Answer:
the journal entry to record bond issuance:
Dr Cash 1,444,000
Dr Discount on bonds payable 76,000
Cr Bonds payable 1,520,000
amortization of discount on bonds payable = $76,000 / 5 = $15,000
coupon payment = $91,200
total interest expense per year = $106,200
total interest expense for the 5 year period = $106,200 x 5 years = $531,000
The basic purpose of the securities laws in the United States is to regulate the issuance of investment securities by:_____.A. Providing a regulatory framework in those states which do not have their own securities laws.
B. Requiring disclosure of all relevant facts so that investors can make informed decisions.
C. Prohibiting the issuance of securities which the Securities and Exchange Commission determines are not of investment grade.
D. Channeling investment funds into uses which are economically most important.
Answer:
B. Requiring disclosure of all relevant facts so that investors can make informed decisions.
Explanation:
The Securities and Exchange Commission (SEC) is a governmental agency saddled with the sole responsibility of regulating the securities or capital markets, as well as protecting investors in a country.
In the United States of America, the Securities and Exchange Commission (SEC) as an independent government agency was established under the Securities Act of 1933 and the Securities and Exchange Act of 1934 of the United States of America. It has the power to propose securities rules and regulations, and enforce federal securities law in the securities market.
The basic purpose of the securities laws in the United States is to regulate the issuance of investment securities by requiring disclosure of all relevant facts so that investors can make informed decisions.
Some of the forms to be filled as required by the United States of America, Securities and Exchange Commission (SEC) includes;
1. Form 10-K.
2. Form 10-Q.
3. Form 8-K.
On January 1, 2022, Siewart, Inc. granted 14.5 million of its $1 par common shares to executives, subject to forfeiture if employment is terminated within four years. The common shares have a market price of $6 per share on the grant date. Ignoring taxes, and assuming that Siewart has a December 31st year end, what is the effect of this grant on Siewart's 2023 earnings?
Answer and Explanation:
The computation of the impact of the grants on 2023 earnings is as follows:
The Total value of shares is
= 14.5 million per share × $6 per share
= $87 million
Now for one year it is
= $87 ÷ 4 years
= $21.75 million
By this same amount i.e. $21.75 would be reduced in the first years and reduced in future years accordingly
do some quick math to compare how much alana should be making per month and to compare it to how much she’s spending to determine why alana’s concerned.
Question Completion:
Alana earns $150 per week. She spends a total of $524 per month. She plans to save $200 per month. Out of her total spending, her real needs are as follows:
Car Insurance - $70
Gas for Car - $70
Cell phone - $50
Shoes - $60
Wants:
Coffee - $40
Movies - $36
The remainder of her expenses is on frivolities (called miscellaneous expenses).
Answer:
1. Alana should be making $600 ($150 * 4) per month.
2. Alana is not spending $76 ($600 - $524) per month.
3. She is concerned because she is not meeting her savings goal of $200 per month. If she concentrates her expenses per month on her needs and wants only, she will be spending only $326. This will enable her to save $274 per month, thereby exceeding her target.
Explanation:
a) Data and Calculations:
Car Insurance = $70
Gas for Car = $70
Cell phone = $50
Shoes = $60
Wants:
Coffee = $40
Movies = $36
Total expenses $326
Oriole Company sells merchandise on account for $7800 to Sunland Company with credit terms of 2/13, n/30. Sunland Company returns $1200 of merchandise that was damaged, along with a check to settle the account within the discount period. What is the amount of the check?
a. $6468
b. $7668
c. $7644
d. $6600
Answer:
a. $6468
Explanation:
Calculation for the amount of the check
Based on the information given we were told that Oriole Company sells merchandise on account for the amount of $7800 to Sunland Company with credit terms of 2/13, n/30 in which Sunland Company returns the amount of $1200 of merchandise that was damaged which means that the amount of the check will be calculated as:
Amount of the check=[($7,800 - $1,200) *(100%-2%) ]
Amount of the check=$6,600*0.98
Amount of the check=$6,468
Therefore the Amount of the check will be $6,468
Given the following, calculate total manufacturing costs: Direct materials cost: $62,000 Direct labor cost: $78,000 Manufacturing overhead applied: $46,000 Actual manufacturing overhead: $51,000 Beginning Work in process inventory: $32,000 Ending Work in process inventory: $35,000 a) $186,000 b) $188,000 c) $191,000 d) $183,000
Answer:
a) $186,000
Explanation:
The computation of the total manufacturing cost is shown below:
= Direct material cost + direct labor cost + manufacturing overhead applied
= $62,000 + $78,000 + $46,000
= $186,000
Hence, the total manufacturing cost is $186,000
Therefore the correct option is A.
We simply applied the above formula so that the correct value could come
And, the same is to be considered
Carla Vista Co. has a tax rate of 30% and income before non-operating items of $1392000. It also has the following items (gross amounts). Unusual loss $222000 Discontinued operations loss 605000 Gain on disposal of equipment 46500 Change in accounting principle increasing prior year's income 317500What is the amount of income tax expense Carla Vista would report on its income statement?A. $162,400.B. $185,600.C. $124,000.D. $198,400.
Answer: $364950
Explanation:
Based on the scenario and information that have been provided in the question, the amount of income tax expense that Carla Vista would report on its income statement will be calculated as:
= (Income before non-operating items - Unusual loss + Gain on disposal of equipment) × Tax rate
= ($1392000 - $222000 + $46500) × 30%
= $1216500 × 0.3
= $364950
Austere Realty, a real estate company, ensures that its web page always shows up high among the list of results whenever a user looks for information related to property and housing on the Internet. In this scenario, Austere Realty is actively engaged in _____.A. geotargeting
B. web scraping
C. search engine optimization
D. organic linking
Answer:
The correct answer is the option C: Search engine optimization.
Explanation:
To begin with, the name of "Search Engine Optimization" or SEO refers to the process used by companies that focus on improving the quality and quantity of the website traffic related to a website that comes from search engines. Meaning that this process seeks for the way to get those websites to be find more easily by the consumers depending on how much related they are to what the consumers look for on the engine searchers. That is why that in this case, Austere Realty is actively engaged in search engine optimization due to the fact that they always ensure that its web page shows up high amoing the list of results of the search engine.
Trade deficits usually occur when crops are in short supply.
O True
O False
Whispering Winds Corp. purchased a delivery van with a $52000 list price. The company was given a $4200 cash discount by the dealer and paid $2700 sales tax. Annual insurance on the van is $1400. As a result of the purchase, by how much will Whispering Winds Corp. increase its van account?
Answer:
$50,500
Explanation:
Calculation for by how much will Whispering Winds Corp. increase its van account
Using this formula
Increase in Van account =List price- Cash discount + Sales tax paid
Let plug in the formula
Increase in Van account=$52,000-$4,200+2,700
Increase in Van account=$50,500
Therefore by how much will Whispering Winds Corp. increase its van account will be $50,500
What is the net effect on a firm's working capital if a new project requires: $40,013 increase in inventory, $30,461 increase in accounts receivable, $35,000.00 increase in machinery, and a $43,704 increase in accounts payable?a) +10,000.
b) +55,000.
c) +20,000.
d) -5,000.
Answer: +$26,770
Explanation:
The Net Working capital is the difference between a company's current assets and its current liabilities.
Net Working capital = (Inventories + Accounts Receivables) - Accounts payable
= (40,013 + 30,461) - 43,704
= $26,770
= +$26,770
The options are probably not for this question in particular.
Don't forget to write down and keep your work so you can compare your answers to the solutions 2 pts D Question 3 Builtrite's common stock is currently selling for $46 a share and the firm just paid an annual dividend of $1.90 per share. Management believes that dividends and earnings should grow at 9% annually Based on this, and a marginal tax rate of 34%, what is the cost of common stock (also known as the cost of retained earnings)? A. 13.1% B. 8.65% C. 8.91% D. 13.5%
Answer:
D. 13.5%
Explanation:
Price = D0 * (1 + g)/(r - g)
46 = 1.90 * (1 + 0.09)/(r - 0.09)
46 = 2.071/(r - 0.09)
r - 0.09 = 2.071/46
r - 0.09 = 0.04502173913
r = 0.04502173913 + 0.09
r = 0.1350217391
r = 13.5%
Thus, the cost of common stock is 13.5%
At the end of March, the unadjusted trial balance of Tutor, Inc. included the following accounts:
Tutor uses the balance sheet approach in estimating uncollectible accounts expense, and aging the accounts receivable indicates the estimated uncollectible portion to be $8,600. What is the amount of uncollectible accounts expense recognized in Tutor's income statement for March?
A. $8,600
B. $6,800
C. $10,400
D. $1,800
Answer:
A. $8,600
Explanation:
the journal entry to record uncollectible accounts expense is:
March 31, 202x, bad debt expense
Dr Bad debt expense 8,600
Cr Allowance for uncollectible accounts 8,600
Allowance for uncollectible accounts is a contra asset asset that decreases the net balance of accounts receivable. While bad debt expense is a temporary account that is included under operating expenses in the income statement.
Charging a higher price for a motel room to customers with dogs or cats than to customers with no pets is most likely an example of:________. A. actual cost differences. B. seconddegree price discrimination. C. firstdegree price discrimination. D. thirddegree price discrimination.
Answer:
A)Actual cost differences
Explanation:
Actual cost in domain of finance can be explained as the actual cost that are needed to make a unit of product in an organization that are producing. It could be the actual cost of direct labor
overhead as well as direct materials.
The difference that exist in between actual cost and standard cost in a business can be regarded as variance, whenever standard cost is low compare to actual cost then variance become unfavorable.It should be noted that an example of Actual cost differences is
Charging a higher price for a motel room to customers with dogs or cats than to customers with no pets
In January, Knox Company requisitions raw materials for production as follows: Job 1 $936, Job 2 $1,690, Job 3 $767, and general factory use $667.
Prepare a summary journal entry to record raw materials used:
DEBIT CREDIT
Work in Process Inventory
Jan 31. Manufacturing Overhead
Raw Materials Inventory
Answer:
Materials used in production go to Work in Process so;
= 936 + 1,690 + 767
= $3,393
The materials used in the general factory will go to Manufacturing Overhead.
Date Debit Credit
Jan 31 Work in Process $3,393
Manufacturing Overhead $ 667
Raw Materials Inventory $4,060
in your own idea, are "doing good for others" and "doing well for oneself" conflicting ideas? Which would you choose and why?
Answer:
The "Invisible Hand" orden a sus In his 1776 book The Wealth of Nations, Adam Smith first noted that the operation of a market system creates a curious unity between private interests and social interests. Firms and resource suppliers, seeking to further their own self-interest and operating within the framework of a highly competitive market system, will simultaneously, as though guided by an “invisible hand," promote the public or social interest. For ex- ample, we have seen that in a competitive environment, businesses seek to build new and improved products to increase profits. Those enhanced products increase society's well-being. Businesses also use the least costly combination of resources to produce a specific output because it is in their self-interest to do so. To act otherwi forgo profit or even to risk business failure. But, at the same time, to use scarce resources in the least costly way is clearly in the social interest as well. It "frees up" resources to produce something else that society desires. Self-interest, awakened and guided by the competitive market system, is what in- duces responses appropriate to the changes in society's wants. Businesses seeking to make higher profits and to avoid losses, and resource suppliers pursuing greater mon- etary rewards, negotiate changes in the allocation of resources and end up with the output that society wants. Competition controls or guides self-interest such that self- interest automatically and quite unintentionally furthers the best interest of society The invisible hand ensures that when firms maximize their profits, and resource SP ety's output and and pliers maximize their incomes, these groups also help maximize society income.
Compound interest is usually better than simple interest because it pays interest on the principal and the interest earned in each period. interest on the entire principal rather than the interest in each period. more, as it is matched by an employer’s 401k contribution. more often throughout the year rather than once a year.
Answer:
A) interest on the principal and the interest earned in each period
Interest is the return of an amount over the payment of principal by a lender or payment financial company to a creditor or bondholder at a set rate. It is not to be confused with a fee that the borrower may pay to the creditor or a potential buyer.
The correct option is interest on the principal and the interest earned in each period.
The reason for the correct answer is:
The original investment of a debt or investment is the main attribute to calculate simple interest. Compound interest is calculated by using the principal sum and the curiosity that accumulates on it over time.
Simple interest is easier to compute as compared to compound interest because it is calculated on the principal balance of the loan or bank.
The simple interest is calculated as:
[tex]\text{Simple interest} = P \times R \times T[/tex]
On the other hand, the compound interest is calculated as:
[tex]\text{Compound Interest} = P\times (1+r)^{t} -P[/tex]
To know more about the simple and the compound interest, refer to the link below:
https://brainly.com/question/11203691
The manager of Marigold is given a bonus based on net income before taxes. The net income after taxes is $50490 for FIFO and $40200 for LIFO. The tax rate is 30%. The bonus rate is 20%. How much higher is the manager's bonus if FIFO is adopted instead of LIFO?
Answer:
$2,058
Explanation:
the bonus when FIFO method is used = $50,490 x 20% = $10,098
the bonus when LIFO method is used = $40,200 x 20% = $8,040
the difference = $10,098 - $8,040 = $2,058
First in. first out (FIFO) method assigns cost of goods sold based on the price of the oldest units purchased, while last in, first out (LIFO) assigns cost of goods sold based on the price of the last units purchased. When the cost of merchandise increases during the year, FIFO method will result in lower COGS and higher net income.
Explain how the tariff affects the price paid by consumers in the importing country and the price received by producers in the exporting country. Use graphs to illustrate how the prices are affected if:
a. the export supply curve is very elastic (flat)
b. the export supply curve is inelastic (steep).
Answer and Explanation:
The tariff price is divided between the producer i.e. in the exporting country and the consumer i.e. importing country. In the case when the supply curve is very elastic so the producer could beer the tariff grunt and the importer could remained non-scathed.
On the other hand if the country wants to inflict a tariif on that good that contains non-elastic supply curve so in this case the consumer who he in the importing company would have to pay the larger share of the tariff
In this way it should be illustrated.
Synovec Corporation is expected to pay the following dividends over the next four years: $5.20, $16.20, $21.20, and $3.00. Afterward, the company pledges to maintain a constant 5.5 percent growth rate in dividends forever. If the required return on the stock is 9 percent, what is the current share price?
Answer:
Present value = $92.6899 rounded off to $92.69
Explanation:
Using the dividend discount model, we calculate the price of the stock today. It values the stock based on the present value of the expected future dividends from the stock. To calculate the present value of the next four dividends, we will use the following formula,
Present value = D1 / (1+r) + D2 / (1+r)^2 + D3 / (1+r)^3 + D4 / (1+r)^4 +
[(D4 * (1+g) / (r - g)) / (1+r)^4]
Where,
r is the required rate of return g is the constant growth rate in dividends
Present value = 5.2 / (1+0.09) + 16.2 / (1+0.09)^2 + 21.2 / (1+0.09)^3 +
3 / (1+0.09)^4 + [(3 * (1+0.055) / (0.09 - 0.055)) / (1+0.09)^4]
Present value = $92.6899 rounded off to $92.69
Merger Co. has 10 employees, each of whom earns $1,700 per month and has been employed since January 1. FICA Social Security taxes are 6.2% of the first $132,900 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to each employee.
Prepare the March 31 journal entry to record the March payroll taxes expenses. (Round your answers to 2 decimal places.)
Answer:
Date Description Debit Credit
March, 31 Payroll Tax expense $2,320.50
FICA Social Security taxes $1,054
FICA Medicare taxes $ 246.50
FUTA taxes $ 102
SUTA taxes $ 918
Working
FICA Social Security taxes = 1,700 * 10 * 6.2% = $1,054
FICA Medicare taxes = 1,700 * 10 * 1.45% = $246.50
FUTA Taxes = 1,700 * 10 * 0.6% = $102
SUTA Taxes = 1,700 * 10 * 5.4% = $918
Payroll Tax expense = 1,054 + 246.50 + 102 + 918 = $2,320.50
What spending category claimed the largest share of federal outlays during the 1960s? How about during the most recent decade?
The question is incomplete, below is the complete question.
Summarize how Federal spending priorities has changed since the 1960s.
(Changing budget priorities) What spending category claimed the largest share of federal outlays during the 1960s? How about during the most recent decade?
Answer:
A) Addressing on a national defence,largest share of federal outlays was claimed during the 1960s.
So to say,during the said 1960s, what contributed between 40 to 50 percent of federal outlays is spending on national defence.
B) Following the coming decade, that is during the most recent decade, Federal government having moved it's focus of spending from national defense to income redistribution. Some programs like Medicare,social security as well as other welfare related programs now account for federal spending.
Recently in this decade,just Medicare accounts for up to 30 percent of the federal outlays and when combined with welfare spending,up to 50% percent big outlays is visibly seen for these programs.
Moreover, spending on national defense has always been fixed in recent decades at about 18%.
ABC Inc. custom makes furniture. It has 20 workers who produce 135 units per quarter each. The cost per unit is $2500.00. If a pure chase strategy is used, how many workers are fired or hired during quarter 2?
Be as close as possible.The quarterly demand information is provided below.
Q1:3,000 units, Q2:500 units, Q3:4,500 units, Q4:6,000 units
A) Hired 20 workers
B) Hired 5 workers
C) Fired 19 workers
D) No one is hired
In the Plan Risk Responses process, an accept strategy for a negative risk or threat indicates that the project team has decided:________.
A. To agree with the project manager.
B. To eliminate a specific risk or threat, to reduce the probability and / or impact of an adverse risk event to be within acceptable threshold limits, or to pursue an opportunity actively.
C. Not to change the project management plan to deal with a risk, or it is unable to identify any other suitable response strategy.
D. To purchase insurance, or to require performance bonds, warranties, and guarantees.
Answer:
C. Not to change the project management plan to deal with a risk, or it is unable to identify any other suitable response strategy.
Explanation:
If the risk-free rate is 5.60 percent and the risk premium is 4.6 percent, what is the required return?
Answer:
Required return = 10.2 %
Explanation:
Given:
Risk-free rate = 5.6 %
Risk premium = 4.6 %
Find:
Required return
Computation:
Required return = Risk-free rate + Risk premium
Required return = 5.6 % + 4.6 %
Required return = 10.2 %
Pharoah Company had beginning inventory of $18600 at March 1, 2022. During the month, the company made purchases of $80600. The inventory at the end of the month is $21450. What is cost of goods sold for the month of March? A. $99200 B. $102050 C. $80600 D. $77750
Answer:
D. $77,750
Explanation:
Cost of goods sold is calculated as;
= Beginning inventory + Purchases - Ending inventory
Given that;
Beginning inventory = $18,600
Purchases = $80,600
Ending inventory = $21,450
Cost of goods sold
= $18,600 + $80,600 - $21,450
Cost of goods sold = $77,750
Cost of goods sold for the month of March is $77,750
Anita wants to start an online business and not use her real name. What type of form
will Anita need to complete when opening a business? Choose the answer.
corporation
franchise
DBA (doing business as)
trademark
Answer:
trademark
Explanation:
Over the first four years of a company's life, it earned the following net income (loss):______.
$6,000; $4,000; $9,000, and ($3,000).
If the company's ending retained earnings is $10,000 after year 4, what is the average amount of dividends paid per year?
Answer:
$700
Explanation:
The computation of the average dividend amount paid is as follows:
Total net income for first four years is
= $6,000 + $4,000 + $7,000 - $3,000
= $14,000
And, the ending retained earning balance after 4 years is $11,200
So, the dividend payment would be
= $14,000 - $11,200
= $2,800
For per year it would be
= $2,800 ÷ 4 years
= $700
Project L costs $30,000, its expected cash inflows are $8,000 per year for 8 years, and its WACC is 10%. What is the project's discounted payback? Do not round intermediate calculations. Round your answer to two decimal places.
Answer:
4.93 Years
Explanation:
Detailed calculation of the answer is given below. Note the following:
1) The Cash flows and Cumulative Cash flows are written without rounding off (as mentioned in question not to round off intermediate calculations)
2) The final answer is given in two decimal places (as mentioned in question)
Year Cash flows ($) Cumulative Cash flows ($)
0 (30,000) (30,000)
1 7,272.727272727 (22,727.272727272)
2 6,611.570247933 (16,115.702479338)
3 6,010.518407212 (10,105.182072126)
4 5,464.107642920 (4,641.076429205)
5 4,967.370584473 326.294155267
6 4,515.791440430 4,842.085595697
7 4,105.264945845 8,947.350541543
8 3,732.059041677 12,679.409583221
Discounted Payback Period = 4 + (4641.076429205/4967.370584473)
= 4.93 Years
Southland Company is preparing a cash budget for August. The company has $18,100 cash at the beginning of August and anticipates $123,000 in cash receipts and $136,700 in cash payments during August. Southland Company wants to maintain a minimum cash balance of $10,000. To maintain the minimum cash balance of $10,000, the company must borrow:A. $0.B. $10,000.C. $6,700.D. $7,000.E. $27,700.
The options provided are incorrect. The correct answer is given below.
Answer:
The company needs to borrow $5600 to maintain the desired ending balance of $10000
Explanation:
To calculate the amount that Southland will need to borrow, we must first calculate the ending cash balance for the month of August. The ending cash balance can be calculated as follows,
Ending balance = Opening balance + Receipts - Payments
Plugging in the values for beginning balance, receipts and payments for the month, we calculate the ending balance to be,
Ending balance = 18100 + 123000 - 136700
Ending balance = $4400
Difference between desired and ending balance = 10000 - 4400 = 5600
So, the company needs to borrow $5600 to maintain the desired ending balance of $10000
11. Do you think consistent increase in a country's imports has a favourable impact on its production and employment? WHY?
Answer:
A country induce imports mainly due to two strategies. First is when the needs is to be satisfied for a commodity that cannot be produced domestically or to foster competition in the domestic country.
When the imports increase the domestic industries tries to improve their operations by increasing efficiency which leads to better economic growth and employment opportunities.