The following trial balance was extracted from the books of Kalekeno, a sole trader, at 31st Dec2018:

Dr Cr

Stock DEC 31st 2017 23,680



Carriage outward 2,000



Carriage inwards 3,100

Returns 2050 3,220

Purchases and sales 118,740 186,000

Salaries and wages 38,620

Rent 3040

Insurance 780

Motor expenses 6,640

Office expenses 2160

Lighting and heating expenses 1,660

General expenses 3140

Premises 50,000

Motor vehicles 18,000

Fixtures and fittings 3,500

Debtors and creditors 38,960 17,310

Cash at bank 4820

Drawings 12,000

Capital 126,360

332,890 332,890

Additional information

i) Closing stock was valued at ksh 29,460 as at 30th June 2018

ii) Mr kalekeno took part of the stock amounting to ksh 3000 for personal use

iii) Salaries and wages amounting to ksh 8,000 were pre-paid and ksh 360 of motor expenses accrued

iv) Bad debts written off amounted to 860

v) Depreciation is to be provided for as follows:

 Premises at 20%

 Fixtures and fittings at 15%

 Motor vehicles at 25%

All of a above asset were depreciated at cost

a) The income statement for the year ended 30 th June 2018 ( 5marks)

b) The statement of financial position (5 Marks)​

Answer:

the diluted earning per share is $17.71

Explanation:

The computation of the diluted earning per share is shown below:

Diluted earning per share is

= (Net income - preference dividend) ÷ ( oustanding common stock shares + convertible shares)

= ($4,500,000 - $250,000) ÷ (200,000 + 40,000)

=  $4,250,000 ÷ 240,000 shares

= $17.71

hence, the diluted earning per share is $17.71

We simply applied the above formula so that the correct value could come

And, the same is to be considered

Answer:

A. choosing the grant date of a stock option retroactively

Explanation:

Stock options are the priviledge that an individual has to purchase a stock at a particular time and date.

Usually it is given to those that already have shared.

Companies give this priviledge to existing shareholders to reduce stock dilution.

Backdating of stock options means that the options grant date can be altered to a time when the option price was lower.

In effect those that practice this get stock at lower prices and make more profit per share.

The grant date is chosen retroactively

Answer:

A. choosing the grant date of a stock option retroactively.

Explanation:

First of all, backdating is usually illegal and sadly, many companies do it to boost employee compensation. This is an example of agency conflicts since management puts their interests ahead of the interests of stockholders.

Backdating refers to retroactively setting the date of a contract in order to benefit one party. If management had done things properly, why would they need to backdate a compensation plan?

Answer:

True

Explanation:

Peter Drucker proposed the idea of knowledge management. He praised knowledge as being the most important factor of production, I guess he associated knowledge with technology. He even used the terms knowledge worker and knowledge productivity. He was one of the most influential authors about management and he focused a lot on continuous learning.

Answer:

the value of the project is $16,096.88

Explanation:

The computation of the value of the project is shown below:

= (Expected amount generated per year × (1 - (1 ++ rate of returm)^-time period )) ÷ rate of return

= $36,950 ×  [1 - 1.1^-6] ÷ 0.1

= $16,0926.88

Hence, the value of the project is $16,096.88

We simply applied the above formula so that the correct value could come

And, the same is to be considered

Answer:

8.16%

Explanation:

Note that when a bond pays a semiannual coupon, coupon payments are made twice a year, hence, in order to determine its annual coupon rate if the coupon is paid once a year, we need to determine its effective annual rate using the formula below:

effective annual rate=(1+coupon rate/n)^n-1

current coupon rate=8%

n=number of times in  a year that coupon payments are made=2

effective annual rate=(1+8%/2)^2-1

effective annual rate=(1.04)^2-1

effective annual rate=8.16%

Answer:

b. 5.23%

Explanation:

The computation of the dividend growth rate is shown below:

As we know that

Value of stock = Current year dividend ÷ (Required rate of return - growth rate)

$82 = $4.65 ÷ (0.109  growth rate)

$8.938 - 82 × growth rate = $4.65

82 × growth rate = 4.288

growth rate = 4.288 ÷ 82

= 5.23%

Hence, the dividend growth rate is 5.23%

Therefore the correct option is b.

Answer: A. Because stocks and bonds are negatively correlated

Explanation:

An investment portfolio containing a mix of stocks and bonds is less risky than one containing a single asset class because stocks and bonds are negatively correlated.

In business, diversification of ones portfolio is essential in order to mitigate risks. Stocks and bonds are negatively correlated as one goes up, the other falls. Therefore bonds and stocks compensate each other.

Explanation:

Communication. One of the most important interpersonal skills in any job is communication. Whether you work in IT, customer service, construction, or any other industry, you will need to be able to communicate clearly and effectively with others through both oral and written communications.

Communication is the most important interpersonal skill.

The actions and strategies a man does to communicate with one another successfully are known as interpersonal skills. People constantly contact others when doing so, whether that is at jobs, in social environments, or even within their families.

Communication is one of the most important interpersonal skills that a person can have. As it helps in telling what the person is wanted to tell. It also helps in understanding. It develops empathy as well as emotional intelligence.

As communication is good it would help to convey the message that you want to portray to another being. It helps in developing the personality and to most of the people nowadays used. Communication comes under the category of interpersonal skills.

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Answer:

Jill Bower

Her total investment on the purchase of this stock is:

$9,880.

Explanation:

Number of shares purchased = 320

Share price at purchase = $29

Cost of the purchase = $9,280

Purchase Commission =    300

Total cost =                   $9,580

Sales proceeds =         $11,200

Sales Commission =          300

Net proceeds =           $10,900

Therefore, the total investment will be equal to the purchase cost (initial investment) + the sales commission, which is equal to $9,880.

= $9,580 + $300

= $9,880

Answer:

A disadvantage of flextime plans is that they often: require supervisors and managers to work longer hours.

Explanation:

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Flextime is a work course of action in which employees can select the beginning and wrapping up times of their workday.

Disadvantages of flextime plans are:

Prevent communication between administration and staff. When planning gatherings, interviews, and training sessions, planning issues are unavoidable.

Make periods of understaffing. Flextime may not be open in adequate numbers to cover all necessary assignments if too numerous employees utilize it.

Make it challenging to screen representative hours. It can be challenging to track an employee's hours and make any doubt they are satisfying their commitments on the off chance that they are not pushed to clock in and out.

A rise in the possibility of staff burnout. Giving representatives more noteworthy control over their work-life adjustments through flextime can be a marvelous thought.

It is important to carefully consider the potential disadvantages before implementing a flextime policy for the employees.

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Answer:

Earnings per share is defined as the net earnings/ profit of a company divided by the number of common stock outstanding. It therefore shows just how much the company made per individual share.

Funds from Operations (FFO) on the other hand refer to cashflow from operations of Real Estate Investment Trusts (REITs). REITS use this as their EPS and so it is sometimes quoted per-share.

Adjusted Funds From Operations (AFFO) are calculated in similar fashion to FFOs and used by REITS as well. This one adjusts the FFO for costs incurred which means it is more accurate and so preferred over FFO.

Dividend per share is the amount of dividend that has been paid to each share within a period. This definition means that even interim dividends are included in the calculation which is done by dividing the total dividends over a period by the number of outstanding shares a company has.

Answer:

factor market

Explanation

Lemme know if I'm wrong :/

Answer:

YTM = 0.03495343461 or 3.495343461% rounded off to 3.50%

Explanation:

The yield to maturity or YTM is the yield or return that an investor can earn on the bond if the bond is purchased today and is held till the bond matures. The formula to calculate the Yield to maturity of a bond is as follows,

YTM = [ ( C + (F - P / n))  /  (F + P / 2) ]

Where,

C is the coupon payment

F is the Face value of the bond

P is the current value of the bond

n is the number of years to maturity

Assuming that the bond  pays coupon annually,

Coupon payment = 5000 * 0.065 = $325

Number of periods remaining till maturity = 7

YTM = [ (325 + (5000 - 5937 / 7))  /  (5000 + 5937 / 2)

YTM = 0.03495343461 or 3.495343461% rounded off to 3.50%

Answer:

Oligopolies are prevalent throughout the world and appear to be increasing ever so rapidly. Unlike a monopoly, where one corporation dominates a certain market, an oligopoly consists of a select few companies having significant influence over an industry. Oligopolies are noticeable in a multitude of markets. While these companies are considered competitors within the specific market, they tend to cooperate with each other to benefit as a whole, which can lead to higher prices for consumers.

Explanation:

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The changes in the discount rate affect economic behavior is Raising the discount rate makes individuals less likely to borrow money.

The discount rate is simply known as the interest rate charged to commercial banks and other financial institutions for short-term loans.

Conclusively, The discount rate serves as an main point of the condition of credit in an economy.

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Answer: A. Raising the discount rate makes individuals less likely to borrow money

Answer:

A

Explanation:

Within a sole proprietorship, the single business owner is subject to bankruptcy and even loosing personal belonging to debt if things go wrong. So this form has unlimited liability.

Explanation:

I don't think so because now it is the employers who fixed to pay for a labour

Answer: b. people face trade-offs.

Explanation:

Due to scarcity in the resources that we possess, i.e our resources are not infinite, we are forced to make decisions sometimes that will see us giving up something we want for another thing that we want.

This is called trade-offs and people face them all the time. This man want to wants to buy either a camera or an editor but due to the price can only buy one. He would therefore have to give up one for the other which makes this a trade-off.

Answer:

Perfect Competition, Imperfect Competition, Oligopoly, and Monolopy

Explanation:

There are four basic types of market structures: perfect competition, imperfect competition, oligopoly, and monopoly.

Answer:

$3,533.71

Explanation:

Amount to be lent today = Future value/(1+Interest rate)^Number of years

Amount to be lent today = 3750/(1.02)^3

Amount to be lent today  = 3750/1.061208

Amount to be lent today = $3,533.71

Hence, amount to be lent today = $3,533.71

Answer: A. consult your own attorney as to legal obligations and rights concerning the ethical conflict.

Explanation:

After considering the relevant implications of an ethical dilemma, the final step is to reach out to your own lawyer to find out your legal rights as well as obligations concerning the courses of action that are presenting the dilemma.

The logic is that your own attorney should have your best interests at heart and so will tell you what each action could do to you which will then help you decide which course of action to take.

Answer:

Home Security Systems Division of National Home Products

Predetermined Overhead Rate for the division:

a. Cutting off 5% off the estimated direct labor-hours every year implies that the predetermined overhead rate will be higher than what it is supposed to be.  Thus, as a higher rate is applied to overheads, the division will report over-applied overhead costs, which is used to reduce the Cost of Goods sold at the end of the year, and thus boost the net operating income.

b. Terri Ronsin should not go along with the general manager's request to reduce the direct labor-hours in the predetermined overhead rate computation to 420,000 as it is unethical with self-interest bias.

Explanation:

a) Data and Calculations:

Estimated direct labor-hours = 440,000

5% shaving = 22,000 (440,000 * 5%)

General manager's requested direct labor-hours = 420,000

Difference in estimated and requested = 20,000 direct labor-hours.

b) The predetermined overhead rate = Estimated total manufacturing overhead divided by the estimated total direct-labor-hours

Answer:

C) 5.62 percent

Explanation:

Tax exempt rate = Taxable Rate * (1 - tax rate)

3.82 = Taxable Rate * (1 - 0.32)

3.82 = Taxable Rate * 0.68

Taxable Rate = 3.82 / 0.68

Taxable Rate = 5.617647058823529

Taxable Rate = 5.62%

Answer:

A

Explanation:

the difference between a company's sales and variable costs, expressed as a percentage. This ratio shows the amount of money available to cover fixed costs.

Solution :

a). There are total 5 executives. Therefore the possible sample size of 2 is

[tex]$^nC_r=\frac{n!}{r!(n-r)!}$[/tex]

[tex]$^5C_2=\frac{5!}{2!(5-2)!}$[/tex]

      [tex]$=\frac{5!}{2! \ 3!}$[/tex]

     = 10

So, there are 10 possible ways for selection of sample size of 2.

b).

     Sample          Samples of service length            Sample mean

Snow, Tolson               20, 22                                    (20+22)/2 = 21  

Snow, Kraft                   20, 26                                         23

Snow, Irwin                   20, 24                                         22

Snow, Jones                 20, 28                                         24

Tolson, Kraft                 22, 26                                         24

Tolson, Irwin                 22, 24                                         23

Tolson, Jones               22, 28                                         25

Kraft, Irwin                     26, 24                                         25

Kraft, Jones                   26, 28                                         27

Irwin,Jones                    24, 28                                         26

c). The mean and the standard deviation of the means of the sampling distribution is given by :

[tex]$\bar{X}= \sum_{i-1}^{10}\frac{\bar{x}_i}{n}$[/tex]

   [tex]$=\frac{21+23+22+24+24+23+25+25+27+26}{10}$[/tex]

   [tex]$=\frac{240}{10} $[/tex]  

  = 24

The variance of the sample means :

[tex]$S^2=\frac{1}{n}\sum_{i-1}^{10}\left(\bar x_i - \bar X \right)^2$[/tex]

   [tex]$=\frac{1}{10}\sum_{i-1}^{10}\left(\bar x_i - 24 \right)^2$[/tex]

  [tex]$=\frac{1}{10}\times(30)$[/tex]

  = 3

Therefore the standard  deviation of the sample means is

[tex]$S=\sqrt{variance}$[/tex]

  [tex]$=\sqrt3$[/tex]

  = 1.732

d). The population means is given by:

[tex]$\mu =\frac{20+22+26+24+28}{5}$[/tex]

  [tex]$=\frac{120}{5}$[/tex]

  = 24

Therefore, we can say that the mean of the sample means is a point estimate of the population mean.

Answer:

d) $6,223.30

Explanation:

Interest payable in cash = 100000*6% = $6000

Amortization of bond discount (Straight line) = Discount in issue of bond / number of years

Amortization of bond discount = (100000 - 97,767) / 10

Amortization of bond discount = 2233 / 10

Amortization of bond discount = 223.3

Amount of interest Expense = 6000 + 223.3

Amount of interest Expense = $6,223.30

Answer:

d. are incurred even if nothing is produced.

Explanation:

The fixed cost is the cost which remains the same in the case when the production level is increased or decreased or same

Also if nothing is produced still the fixed cost is incurred

Like: rent, depreciation etc

This would remain the fixed . And also cannot be avoided

Therefore the correct option is d.

And other options are wrong

Answer:

Under/over applied overhead= 13,600 underapplied

Explanation:

First, we need to calculate the predetermined overhead rate:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 266,400/18,500

Predetermined manufacturing overhead rate= $14.4 per machine hour

Now, we can allocate overhead:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 14.4*19,050

Allocated MOH= $274,320

Finally, the over/under allocation:

Under/over applied overhead= real overhead - allocated overhead

Under/over applied overhead= 287,920 - 274,320

Under/over applied overhead= 13,600 underapplied

Answer:

the ending inventory is $1,118.67

Explanation:

The computation of the ending inventory using the average cost method is shown below:

But before that first determined the average cost per unit which is

= Total cost ÷ total number of units

= $4,566 ÷ (43 units + 126 units + 31 units)

= $22.83 per unit

Now there is the ending inventory units i.e. 49 units

So, the ending inventory is

= $22.83 × 49 units

= $1,118.67

Hence, the ending inventory is $1,118.67

Answer:

B

Explanation: