Swifty Corporation gathered the following reconciling information in preparing its October bank reconciliation: Cash balance per books, 10/31 $12800 Deposits in transit 500 Notes receivable and interest collected by bank 2600 Bank charge for check printing 60 Outstanding checks 6100 NSF check 520 The adjusted cash balance per books on October 31 is

Answer:

13.4%

Explanation:

Calculation to determine the cost of external equity capital using the dividend capitalization model approach

Using this formula

Cost of external equity capital = (D1/Pnet) + g

Let plug in the formula

Cost of external equity capital =[$3.50(1.05)/$44] + 0.05

Cost of external equity capital= 0.1335 *100

Cost of external equity capital= 13.4%

Therefore the cost of external equity capital using the dividend capitalization model approach is 13.4%

Answer:

A. $25,200

B. Accounts Receivable $770,000

Allowance for Doubtful Accounts $32,200

Bad Debt Expense $25,200

C. $744,800

Explanation:

a. Calculation to Determine the amount of the adjusting entry for uncollectible accounts using this formula

Uncollectible accounts Adjusting entry= Allowance for Doubtful Accounts - Credit balance on Allowance for doubtful accounts

Let plug in the formula

Uncollectible accounts Adjusting entry=$32,200 - $7,000

Uncollectible accounts Adjusting entry= $25,200

Therefore the amount of the adjusting entry for uncollectible accounts is $25,200

B. Based on the information given the adjusted balances of Accounts Receivable will be $770,000

Based on the information given the adjusted balances of Allowance for Doubtful Accounts will be $32,200

Bad Debt Expense = $32,200 - $7,000

Bad Debt Expense= $25,200

c. Calculation to Determine the net realizable value of accounts receivable

Using this formula

Net realizable value of accounts receivable = Accounts receivables - Bad debt

Let plug in the formula

Net realizable value of accounts receivable= $770,000 - $25,200

Net realizable value of accounts receivable=$744,800

Therefore Net realizable value of accounts receivable is $744,800

Answer:

because...

Explanation:

if you act confidence it gives your audience more sense of pleasure as they have the feeling you know what you are talking about and makes them better trust you. It makes it seem you know what you are doing and you will more likely get a better grade or results depending on the situation.

Answer:

It's just like writing a letter!

Explanation:

You don't add the date, here's a format to go by:

Dear {Recipient},

{Body paragraph}

Thanks/Best Regards/Sincerely,

{Your name}

EXMAPLE:

To: (email)

Subject: Ice Cream

Email: Father and Mother, I was wondering if you would consider buying me ice cream. I understand I haven't been a good 5 - year - old, but may you consider the benefits of buying me ice cream?

Thank you,

                      5 - year - old

Answer:

a. Adjusting entry is the bad debt expense:

= Sales * Percent of sales for bad debt

= 2,770,000 * 1.1%

= $‭30,470‬‭

b.

Accounts Receivable will remain the same as it has already been adjusted for bad debt = $615,000

Allowance for Doubtful Accounts

= Bad debt + Credit balance

= 30,470 + 5,500

= $35,970

Bad Debt Expense = $30,470

Answer:

St. Vincent

1. Contribution margin with sales of 80,000 sheets at $8.00 each:

Sales revenue $640,000

Cost of sales       64,000

Contribution   $576,000

2. Percentage decrease in selling price:

Old price =  $8.00

New price =  7.00

Decrease = $1.00

Decrease in percentage = $1/$8 * 100

= 12.5%

3. Percentage increase in sales units:

New sales units = 93,600

Old sales units =  80,000

Increase in units   13,600

Increase in percentage = 13,600/80,000 * 100

= 17%

4. Contribution margin with sales of 93,600 sheets at $7.00 each:

Sales revenue   $655,200

Cost of sales         64,000

Contribution      $591,800

Old contribution 576,000

Increase =           $15,200

5. Contribution per margin (new price) = $6.20 ($7.00 - $0.80)

Units to sell to equal the total contribution margin earned at the higher price of $8.00 = 92,903 ($576,000/$6.20)

6. Percentage increase in the number of sheets sold at $7.00 to equal the total contribution margin earned at the higher price of $8.00:

New units = 92,903

Old units =  80,000

Increase =   12,903

Percentage increase = 12,903/80,000 * 100

= 16.129

= 16.13%

7. The common fixed costs do not vary according to the units sold.  Allocating a portion of the fixed costs to the alternatives does not make the comparison more accurate.

Explanation:

a) Data and Calculations:

Cost of a souvenir = $0.80

Selling price per souvenir = $8.00

Sales units = 80,000

Selling price of a new souvenir = $7.00

Sales units of the new souvenir = 93,600

This question is incomplete, the complete question is;

Transfer Pricing: Various Computations

Corning Company has a decentralized organization with a divisional  structure. Two of these divisions are the Appliance Division and the Manufactured Housing Division. Each divisional manager is evaluated on the basis of ROI.

The Appliance Division produces a small automatic dishwasher that the Manufactured Housing Division can use in one of its models. Appliance can produce up to 20,000 of these dishwashers per year. The variable costs of manufacturing the dishwashers are $98.The Manufactured Housing Division inserts the dishwasher into the model house and then sells the manufactured house to outside customers for $73,000 each. The division's capacity is 4,000 units. The variable costs of the manufactured house (in addition to the cost of the dishwasher itself) are $42,600.  

Required:

Assume each part is independent, unless otherwise indicated.

1) Assume that all of the dishwashers produced can be sold to external customers for $320 each. The Manufactured Housing Division wants to buy 4,000 dishwashers per year. What should the transfer price be?

2) Refer to Requirement 1. Assume $24 of avoidable distribution costs. Identify the maximum and minimum transfer prices.  

3) Assume that the Appliance Division is operating at 75 percent capacity. The Manufactured Housing Division is currently buying 4,000 dishwashers from an outside supplier for $290 each. Assume that any joint benefit will be split evenly between the two divisions. What is the expected transfer price?

Answer:

a) The transfer price TP is the market ( $ 320 )

b)

- minimum transfer price : $ 296

- maximum transfer price : $ 320

c) the expected transfer price is $ 194

Explanation:

Given the data in the question;

a) What should the transfer price be?

The transfer price TP is the market ( $ 320 ) as all the dishwashers produced will be sold to the external customers for $ 320 .

b) Identify the maximum and minimum transfer prices?

Refer to question 1 above and assuming $24 of avoidable distribution costs.

the maximum and minimum transfer prices will be;

- minimum transfer price : $ 320 - $ 24 = $ 296

- maximum transfer price : $ 320

c) What is the expected transfer price?

given that; the variable costs of manufacturing the dishwashers are $98.

The Manufactured Housing Division is currently buying 4,000 dishwashers from an outside supplier for $290 each.

so potential gain = $290 - $98

= $ 192

thus, share of gain of each division will be;

⇒ $ 192 / 2 = $ 96

so the transfer price will be;

⇒ $ 98 + $ 96

= $ 194

Therefore, the expected transfer price is $ 194

Answer:

price of the bonds:

$1,000,000 / (1 + 6%)⁶ = $704,961

$50,000 x 4.9173 (PVIFA, 6%, 6 periods) = $245,865

August 1, 2019, bonds sold at a discount

Dr Cash 950,826

Dr Discount on bonds payable 49,174

    Cr Bonds payable 1,000,000

Assuming straight amortization of discount = $49,174 / 6 = $8,195.67

February 1, 2020, first coupon payment

Dr Interest expense 58,196

    Cr Cash 8,196

    Cr Discount on bonds payable 50,000

August 1, 2020, second coupon payment

Dr Interest expense 58,195

    Cr Cash 8,195

    Cr Discount on bonds payable 50,000

October 1, 2020

Dr Bonds payable 200,000

Dr Interest expense 3,879

Dr Loss on redemption of bonds 24,667

    Cr Cash 228,000

    Cr Discount on bonds payable 546

Answer and Explanation:

The preparation of the statement of cash flows is presented below:

Cash flows from operating activities

Net income $13,500

Add: depreciation expense $8,700

Add: loss on sale of equipment $2,200

Less: increase in inventory  $3,900

Less: increase in prepaid expense -$800

Add: decrease in account receivable $1,700

Net cash provided by operating activities  $19,900

Cash flows from investing activities

receipt from sale of equipment, $2,700

Less: payment for purchase of building, $29,000

Net cash used by investing activities -$26,300

Cash flows from financing activities

receipt from issuance of bonds, $8,000

Less: payment of dividends, $5,200

Net cash provided by financing activities $2,800

Net decrease in cash -$3,600

Add: opening cash balance $10,200

Ending cash balance $6,600

Answer:

a. The regression equation required is Y = 915.18 – 0.2819X.

b. b-1. Correlation coefficient (r) = –0.9423

b-2. Coefficient of determination = r^2 = 88.80%

b-3. The negative correlation coefficient of -0.9423 implies that increase in X mostly causes a decrease in Y. The coefficient of determination implies that 88.80% variation in Y is explained by X.

c. The manufacturing cost per gallon is $823.56.

Explanation:

Note: See the attached excel file for the calculation of Mean of X and Y and other values.

a. Develop a regression equation to forecast the cost per gallon as a function of the number of gallons produced.

The regression can be written as follows:

Y = bo + b1X ………………… (1)

b1 = (Sum of (Y - Mean of Y) * (X - Mean of X)) / (Sum of (X - Mean of X)^2) = –34,273.08 / 121,585.14 = –0.2819

b0 = Mean of Y – (b1 * Mean of X) = 1,018.20 - (365.44 * 0.2819) = 915.18

Substituting b) and b1 values into equation (1), regression equation to forecast the cost per gallon as a function of the number of gallons produced can be written as follows:

Y = 915.18 – 0.2819X ……………………….. (2)

Equation (2) is the regression equation required.

b. What are the correlation coefficient and the coefficient of determination? Comment on your regression equation in light of these measures.

b-1. Correlation coefficient (r) can be calculated using the following formula:

r = (Sum of (Y - Mean of Y) * (X - Mean of X)) / ((Sum of (Y - Mean of Y)^2) * (Sum of (X - Mean of X)^2))^0.5 = –34,273.08 / (10,879.60 * 121,585.14)^0.5 = –0.9423

b-2. Coefficient of determination = r^2 = –0.94^2 = 0.8880, or 88.80%

b-3. The negative correlation coefficient of -0.9423 implies that increase in X mostly causes a decrease in Y. The coefficient of determination implies that 88.80% variation in Y is explained by X.

c. Suppose that the market survey indicates a demand of 325,000 gallons in the Bucyrus Ohio, area. Estimate the manufacturing cost per gallon for a plant producing 325,000 gallons per year.

Since X and Y are in thousands, 325,000 gallons implies we have:

X = 325

Substitute X = 325 into equation (2), we have:

Y = 915.18 - (0.2819 * 325)

Expressing in full form, we have:

Y = $823

Therefore, the manufacturing cost per gallon is $823.56.

Answer:

On October 31, Debit Cash for $5,520,000; and Credit Unearned ticket revenue for $5,520,000.

On November 5, Debit Unearned ticket revenue for $1,380,000; and Credit Ticket revenue for $1,380,000.

Explanation:

The journal entries will look as follows:

Date            Description                               Debit ($)         Credit ($)      

Oct 31          Cash                                       5,520,000

                    Unearned ticket revenue                              5,520,000

                    (To record ticket revenue received in advance.)                

Nov 5           Unearned ticket revenue     1,380,000

                     Ticket revenue (w.1)                                      1,380,000

                    (To record revenue ticket revenue earned.)                      

Workings:

w.1. Ticket revenue = Unearned ticket revenue * (1 / 4) = $5,520,000 * (1 / 4) = $1,380,000

Answer:

190.27 days

Explanation:

Average accounts receivable = (Ending accounts receivable 2018 + Ending accounts receivable 2019) / 2

Average accounts receivable = ($46,000 + $48,000)/2

Average accounts receivable = $47,000

Average accounts payable = (Ending accounts payable 2018 + Ending accounts payable 2019) / 2

Average accounts payable = ($38,000 + $36,000)/2

Average accounts payable = $37,000

Average inventory = (Ending inventory 2018 + Ending inventory 2019) / 2

Average inventory = ($154,000 + $149,000)/2

Average inventory = $151,500

Days sales outstanding = (Average accounts receivable*365 days)/Sales

Days sales outstanding = ($47,000*365 days)/$413,000

Days sales outstanding = $17,155,000/$413,000

Days sales outstanding = 41.54 days

Days payable outstanding = (Average accounts payable*365 days)/Cost of goods sold

Days payable outstanding = ($37,000*365 days)/$281,000

Days payable outstanding = $13,505,000/$281,000

Days payable outstanding = 48.06 days

Days inventory outstanding = (Average inventory*365 days)/Cost of goods sold

Days inventory outstanding = ($151,500*365 days)/$281,000

Days inventory outstanding = $55,297,500/$281,000

Days inventory outstanding = 196.79 days

Cash cycle = Days sales outstanding + Days inventory outstanding - Days payable outstanding

Cash cycle = 41.54 days + 196.79 days - 48.06 days

Cash cycle = 190.27 days

Hence, the cash cycle for 2019 based on a 365-day year is 190.27 days

Answer:

$ 2,100.00 F

Explanation:

Preparation of the report showing the company's revenue and spending variances for August.

QUILCENE OYSTERIA

REVENUE AND SPENDING VARIANCES

For the Month Ended August 31

Actual Results Flexible Budget

Revenue and Spending Variances

Pounds 8,000 8,000

Revenue ($4.00q) $

35,200- $32,000 =$3,200 F

Expenses:

Packing supplies ($0.50q)

4,200-4,000=200 U

Oyster bed maintenance ($3,200)

3,100-3,200=100 F

Wages and salaries ($2,900 + $0.30q) 5,640-5,300=340 U

Shipping ($0.80q)

6,950-6,400=550 U

Utilities ($830) 810-830=20 F

Other

($450 + $0.05q) 980 -850=130 U

TOTAL EXPENSE

21,680 20,580 1,100 U

NET OPERATING INCOME

$ 13,520 $ 11,420 $ 2,100 F

(35,200-21,680=$ 13,520)

($32,000-20,580=$11,420)

($3,200-1,100=$2,100)

Summary:

Quilcene Oysteria

Revenues and Spending Variance

For the Month ended August 31

Revenue $ 3,200.00 F

Expenses:

Packing supplies $ 200.00 U

Oyster Bed Maintenance $ 100.00 F

Wages and Salaries $ 340.00 U

Shipping $ 550.00 U

Utilities $ 20.00 F

Other $ 130.00 U

Total Expenses $ 1,100.00 U

Net Operating Income $ 2,100.00 F

Therefore the company's revenue and spending variances for August will be :$ 2,100.00 F

The calculation of finding the revenue and spending variances and the net increase in Q Company’s operating income for Quilcene Oysteria in August, is shown in the attached image below.

Operating income, also known as operating profit or operating earnings, is a measure of a company's profitability that reflects the results of its core operations. It represents the income generated from the company's primary business activities, excluding non-operating items such as interest income, interest expense, and income taxes. Operating income provides insight into the profitability and efficiency of a company's core operations, independent of its financing and tax-related activities.

Learn more about operating income here:

https://brainly.com/question/30400720

#SPJ6

Answer:

Snipes Company

Effects of each transaction on the accounts and the financial statements of Snipes Company:

                           Balance Sheet    Income Statement           Statement of

                                                                                                    Cash Flows

      Assets = Liabilities + Equity   Revenue - Expense = Profit

+ $18,250  =     0        + $18,250  + $18,250 - 0            + $18,250

Accounts receivable $18,250 Sales revenue $18,250

      Assets = Liabilities + Equity   Revenue - Expense = Profit

   -$10,000 =     0        - $10,000     0          - $10,000

Cost of goods sold $10,000 Inventory $10,000

      Assets = Liabilities + Equity   Revenue - Expense = Profit

  -$400             0           -$400          0         -$400              -$400 Operating activity

Transportation-out expense $400 Cash $400

Explanation:

a) Data and Analysis:

Accounts receivable $18,250 Sales revenue $18,250

Cost of goods sold $10,000 Inventory $10,000

Transportation-out expense $400 Cash $400

Answer:

146

Explanation:

The computation is shown below

Particulars       Surgical         Surgical     Rehab                Rehab    

                        Equipment    Supplies    Equipment        Supplies

Cost (A)              151                    103            256                    153

Selling price       272                  135            342                    153

Less:

cost to sell            18                   10                 18                    7

Net realizable

value (B)                254             125                   324             146

Lower of A & B     151                 103                256                146

Answer:

in the money; out of the money.

Explanation:

Secondary market can be defined as a market where various investors sell and buy securities from other investors.

Some examples of secondary market around the world are New York Stock Exchange (NYSE), NASDAQ, London Stock Exchange (LSE) and National Stock Exchange (NSE).

On the other hand, the primary market refers to the market where these securities that are being sold are issued or created.

In trading and investment, a stock option can be defined as a contract that states that the buyer as the right to buy (call) or sell (put) an asset at a particular price at any time but necessarily obligational. Thus, it is strictly at the discretion of the buyer (investor).

Generally, in a long (buy) position, a buyer hopes that the price of stocks will rise because he or she will typically profit from a rise in price.

However, a short (buy) position, a buyer hopes that the price of stocks will fall because he or she will typically profit from a fall in price.

A spot rate is the cash or exchange rate placed on a contract in the stock exchange market.

When the existing spot rate exceeds the exercise price, a call option is in the money, and a put option is out of the money.

Answer:

a a b c

Explanation:

Answer:

Annual Cash Dividends

a. = $347,645.10

b. = $145,450

c. = $317,200

Explanation:

a) Data and Calculations:

1. $3.30 Cumulative Preferred Stock:

Authorized shares = 210,000

Issued shares =        146,000

Treasury shares =     40,653

Outstanding shares 105,347

Cash dividend = $347,645.10 ($3.30 * 105,347)

2. 5% Preferred Stock, $40 par value:

Authorized shares = 293,000

Issued shares =         165,000

Outstanding shares   72,725 * $40 = $2,909,000

Cash dividend = $145,450 ($2,909,000 * 5%)

3. 12.2% cumulative preferred, $100 stated value, $108 liquidating value:

Authorized shares =   81,000

Issued shares =         42,000

Outstanding shares  26,000 * $100 = $2,600,000

Cash dividend = $317,200 ($2,600,000 * 12.2%)

Answer:

Part a

Debit  : Work in Process - Rolling Department $510,000

Credit : Work in Process - Casting Department $510,000

Part b

Debit  : Work in Process - Overheads $54,700

Debit  : Work in Process - Direct labor $26,500

Credit : Accounts Payable $81,200

Part c

Debit  : Finished Goods Inventory $553,200

Credit : Work in Process - Rolling Department $553,200

Part d

Debit  : Finished Goods Inventory $553,200

Credit : Work in Process - Rolling Department $553,200

Part e

$18200 credit

Explanation:

Ending Balance = Opening Balance + Additions - Transfers out

therefore,

Rolling Department balance = $25,000 + $510,000 - $553,200

                                               = ($18200)

Also see journal prepared above.

Answer:

Income tax cuts reduce the amount individuals and families pay on wages earned. When people can take home more of their paychecks, consumer spending increases.

Explanation:

Hope it helps you! Correct me if I am wrong!

I'm sure about my answer!

If you dont mind can you please mark me as brainlest?

Its ok if you don't want to!

But hopefully it helps you!

Answer: B.  January 1, 20X1, through May 1, 20X3

Explanation:

The management representation letter should cover all the periods that will be in the auditor's report not just the periods that the current management team was in effect in.

Even though the financial statements are for the years ended December 31, 20X1 and 20X2, the auditor has a responsibility to include the events that happened all the way up to the date the reports will be released on May 20X3.

This is why the management representation letter needs to include the entire period of January 1, 20X1, through May 1, 20X3 because those will be in the audit report.

Answer:

$30,000

Explanation:

According to the scenario, computation of the given data are as follows,

Total number of pieces per year = 1,000

Selling price per piece = $100 per piece

So, Total revenue = $100 × 1,000 = $100,000

Raw material = $20,000

Investment = $100,000

So, interest on investment = 10% × $100,000 = $10,000

Opportunity cost = $40,000

So, we can calculate the economic profit by using following formula,

Economic profit = Total revenue - Raw material - interest on investment - Opportunity cost

By putting the value, we get

Economic profit = $100,000 - $20,000 - $10,000 - $40,000

= $30,000

Answer and Explanation:

The preparation of the production budget is presented below;

Expected sales units 800,000 candles

Add: Desired closing inventory, Dec 31 20,000 units  

Total units available 820,000 units  

Subtract: Estimated opening inventory,Jan 1 -35,000  units

Total units to be produced 785,000  units

Hence, the above format should be prepared for the production budget

Answer:

c. 93.

Explanation:

The computation of the conversion equivalent units under FIFO method is given below:

= Beginning work in process + unit started & completed + ending work in process

= 30 × 30% + (105 - 30) × 100% + 15 × 60%

= 9 units + 75 units + 9 units

= 93 units

Hence, the third option is correct

Answer:

Product costs refer to the costs incurred to produce a good while period costs are more like general expenses incurred during a period.

a. Wheat used to make flour at General Mills. ⇒ PRODUCT COST. DIRECT MATERIAL.

Wheat is a main ingredient in producing flour so it is a product cost. It is also a direct material cost because it is directly involved in the making of flour which is the main product of General Mills.

b. Sales commissions paid to sales personnel at Gap retail stores. ⇒ PERIOD COST.

Sales commissions have nothing to do with the production of the goods so is a period cost that relates to general expenses incurred in a period.

c. Costs incurred by General Motors to ship automobile seats purchased from the Lear Corporation to GM assembly plants. ⇒ PRODUCT COST. DIRECT MATERIAL COST.

The automobile seats are necessary for the production of cars which makes them a product cost. Cars are the main product of GM and chairs are necessary for that so this is a direct material.

d. Insurance paid on the Target retail stores in Michigan. ⇒ PERIOD COST.

General period expense.

Answer:

a)   84,000 units  ( materials )

     82,000 units ( conversion )

b) $6.5

c)  $494,000 ( material )

   $494,000 ( conversion )

Explanation:

a) Calculate the equivalent unit of production

applying the weighted average method

for the units completed and transferred out

= 5000 + 79000 - 8000 = 76000 ( material ) , Conversion = 76000

For ending work in process

= 8000 ( material ) , conversion = 8000 * 75% = 6000

∴ equivalent units of production

= 76000 + 8000 = 84,000 units  ( materials )

and

= 76000 + 6000 = 82,000 units ( conversion )

B) calculate the unit production costs

Total cost incurred till date = beginning work in process + current period cost  

 = 30,000 + 390,000 = 420,000 ( material )

(conversion) = 123,000.

Equivalent units = 84,000 ( materials ) , 82,000 ( conversion )

cost per unit = 420,000 / 84000 ,   123000/ 82,000

                     = 5 , 1.5

Hence Total unit cost = $6.5 ( i.e. 1.5 + 5 )

C) cost to be assigned

76000 * 6.5 = $494,000 ( material )

76000 * 6.5 = $494,000 ( conversion )

Answer:

It Depends.

Explanation:

It really depends on what poem you are writing. If it is a sad poem, chose words or phrases with a sad connotation. If it is a netrual poem, chose words with a neutral connotation. It is very hard to give you an answer because you gave very little explanation about what the poem is about, but at the end of the day, name the poem based on what you think it is about.

Answer:

if it is about music entitle it whatever the poem is about like if it about depression entitle it: feelings slide over me

Explanation:

Answer:

Electric Division Should be Kept

Explanation:

Analysis of the decision is as follows :

                                                                  Kept                   Eliminated

Sales                                                      $72,000

Expenses :

Direct Expenses                                                                       $1,250

Indirect Expenses                                                                    $1,600

Service Department Costs                                                      $1,430

Cost of Goods Sold                              $56,000

Total Expenses                                     $56,000                   $4,280

Net Income (Loss)                                 $16,000                  ($4,280)

Conclusion :

Electric Division Should be Kept since it is contributing tp the whole company profit than its taking from it.

A prosecutor is a legal representative of the prosecution in countries with either the civil case inquisitorial system, they represents the government in the case brought against the accused person

Answer:

same as the answer of her/him

Explanation:

shhsjaajakzmzmmKaakak

Answer:

see the explanation

Explanation:

A species can be defined as a group of organisms with similar features, and these organisms are capable of breeding and produce fertile offspring. You are probably aware of the fact that horses and donkeys belong to the same kingdom, phylum, class, order, family as well as genus but they are from different species.