Business

The primary purpose of TV, magazines, movies is to entertain.TrueFalse
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"What is the allowable MACRS depreciation on Evergreens property in the current year if Evergreen does not elect out of bonus depreciation?"
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Forest Components makes aircraft parts. The following transactions occurred in July. Purchased $16,950 of materials on account. Issued $16,780 in direct materials to the production department. Issued $1,340 of supplies from the materials inventory. Paid for the materials purchased in transaction (1) using cash. Returned $2,020 of the materials issued to production in (2) to the materials inventory. Direct labor employees earned $32,500, which was paid in cash. Purchased miscellaneous items for the manufacturing plant for $17,250 on account. Recognized depreciation on manufacturing plant of $36,700. Applied manufacturing overhead for the month. Forest uses normal costing. It applies overhead on the basis of direct labor costs using an annual, predetermined rate. At the beginning of the year, management estimated that direct labor costs for the year would be $434,600. Estimated overhead for the year was $412,870. The following balances appeared in the inventory accounts of Forest Components for July. Beginning EndingMaterials Inventory ? $12,490Work-in-Process Inventory ? 10,560Finished Goods Inventory $2.700 6.930Cost of Goods Sold ? 75,1000a. Prepare Journal Entries to record these transactions (1-9)b. Prepare T-accounts to show the flow of costs during the period from Materials Inventory through Cost of Goods Sold
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World Company expects to operate at 80% of its productive capacity of 67,500 units per month. At this planned level, the company expects to use 32,400 standard hours of direct labor. Overhead is allocated to products using a predetermined standard rate of 0.600 direct labor hour per unit. At the 80% capacity level, the total budgeted cost includes $68,040 fixed overhead cost and $408,240 variable overhead cost. In the current month, the company incurred $472,000 actual overhead and 29,400 actual labor hours while producing 51,000 units. Required:a. Compute the overhead volume variance. b. Compute the overhead controllable variance.
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On December 31, 2017, Wayne Sparks Company had 600,000 shares of common stock issued and outstanding. Sparks issued a 5% stock dividend on June 30, 2018. On September 30, 2018, 20,000 shares of common stock were reacquired as treasury stock. What is the appropriate number of shares to be used in the basic earnings per share computation for 2018
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PLEASE HELP QUICKLY: (FIRST ANSWER GETS BRAINLIEST) 40 POINTSEvery monetary decision we make involves a level of choice, usually of one thing over another. What is the name for this financial trade-off?A. personal risksB. inflationC.opportunity cost
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Fact Pattern: Dori Castings, a job-order shop, uses a full-absorption, standard-cost system to account for its production costs. The O/H costs are applied on a direct-labor-hour basis. The amount of fixed factory O/H that Dori will apply to finished production is the:_______. A. Standard allowed direct labor hours for the actual units of finished output times the standard fixed factory O/H rate per direct labor hour. B. Actual fixed factory O/H cost per direct labor hour times the standard allowed direct labor hours. C. Actual direct labor hours times the standard fixed factory O/H rate per direct labor hour. D. Standard units of output for the actual direct labor hours worked times the standard fixed factory O/H rate per unit of output.
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Which drawback of being an entrepreneur can disrupt your personal life?
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Robert has set-up a start-up business. You have been appointed as an accountant for his business. Prepare journal entries for the followingtransactions1. On January 1, 2015, Robert invested $50,000 in his business.2. On January 4, 2015, Robert bought a laptop for $2,800 for business use.3. On January 20, 2015, Robert received $13,000 for services rendered.4. On January 23, 2015, Robert paid salaries to his staff for $3,500
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Telecomp is a U.S.-based manufacturer of cellular telephones. It is planning to build a new manufacturing and distribution facility in either South Korea, China, Taiwan, Poland, or Mexico. The cost of the facility will differ between countries and will even vary within countries depending on the economic and political climate, including monetary exchange rates. The company has estimated the facility cost (in $ millions) in each country under three different future economic/political climates as follows.Economic/Political Climate Country Decline Same Improve South Korea 21.7 19.1 15.2 China 19.0 18.5 17.6 Taiwan 19.2 17.1 14.9 Poland 22.5 16.8 13.8 Mexico 25.0 21.2 12.5 Determine the best decision using the following decision criteria. (Note that since the payoff is cost, the maximax criteria becomes minimax and maximin becomes minimax.) a. Maximin b. Minimax c. Hurwicz ( 0.40) d. Equal likelihood
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Your parents are giving you $250 a month for 4 years while you are in college. At an interest rate of .57 percent per month, what are these payments worth to you when you first start college
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Donny, of Donny's Doughnuts, bakes and sells 100 dozen doughnuts a day using one mixer and one fryer. His rival, Sunshine, of Sunshine's Doughnuts, produces 180 dozen doughnuts a day using two mixers and two fryers. Both shops use the exact same technology to make doughnuts and have the same number of workers and the same size building. Donny and Sunshine both increase their capital equipment by one mixer and one fryer.
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What precaution should a food handler take when cleaning up vomit
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You predict that interest rates are about to fall. Which bond will give you the highest capital gain
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Selected accounts from the ledger of McDaniel Corporation appear below. Indicate the nature of each account. Type Of Account 1. Supplies select a type of account 2. Notes Payable select a type of account 3. Service Revenue select a type of account 4. Dividends select a type of account 5. Accounts Payable select a type of account 6. Salaries and Wages Expense select a type of account 7. Common Stock select a type of account 8. Accounts Receivable select a type of account 9. Equipment select a type of account 10. Notes Receivable select a type of account
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(Bond valuation) You are examining three bonds with a par value of $1 comma 000 (you receive $1 comma 000 at maturity) and are concerned with what would happen to their market value if interest rates (or the market discount rate) changed. The three bonds are Bond Along dasha bond with 5 years left to maturity that has an annual coupon interest rate of 8 percent, but the interest is paid semiannually. Bond Blong dasha bond with 10 years left to maturity that has an annual coupon interest rate of 8 percent, but the interest is paid semiannually. Bond Clong dasha bond with 15 years left to maturity that has an annual coupon interest rate of 8 percent, but the interest is paid semiannually. What would be the value of these bonds if the market discount rate were a. 8 percent per year compounded semiannually? b. 5 percent per year compounded semiannually? c. 15 percent per year compounded semiannually? d. What observations can you make about these
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Task C has two immediate predecessors, Tasks A and B. Task C also has two immediate followers, Tasks D and E. Task A has an early finish time of 3 days, and Task B has an early finish time of 5 days. Task D has a late start time of 10 days and Task E has a late start time of 8 days. Task C is 2 days long. What is the early finish time of Task C
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To raise operating funds, Coyne Incorporated sold its office building to an insurance company on January 1, 2021, for $1,600,000 and immediately leased the building back. The operating lease is for 12 years of the building's estimated 20-year remaining useful life. The building has a fair value of $1,600,000 and a book value of $1,300,000 (its original cost was $2 million). The rental payments of $200,000 are payable to the insurance company each December 31. The lease has an implicit rate of 9%.Prepare the appropriate entries for National Distribution Center on January 1, 2018 and December 31, 2018, to record the sale-leaseback and necessary adjustments.1. Record Sale of Building2. Record the beginning of the lease for National3. Record the lease and interest expense for National4. Record the amortization expense for national
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A 50-kilowatt gas turbine has an investment cost of $40,000. It costs another $14,000 for shipping, insurance, site preparation, fuel lines, and fuel storage tanks. The operation and maintenance expense for this turbine is $450 per year. Additionally, the hourly fuel expense for running the turbine is $7.50 per hour, and the turbine is expected to operate 3,000 hours each year. The cost of dismantling and disposing of the turbine at the end of its 8-year life is $8,000. Required:a. If the MARR is 15% per year, what is the annual equivalent life-cycle cost of the gas turbine? b. What percent of annual life-cycle cost is related to fuel?
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Job seekers often spend a large amount of time writing their rsums and neglect to write quality cover letters. Please select the best answer from the choices provided T or F
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Recording and Reporting Accrued Liabilities and Deferred Revenue with Discussion of Accrual Versus Cash AccountingDuring its first year of operations, Walnut Company completed the following two transactions. The annual accounting period ends December 31. A. Paid and recorded wages of $140,000 during Year 1; however, at the end of Year 1, three days' wages are unpaid and have not yet been recorded because the weekly payroll will not be paid to employees until January 6 of Year 2. Wages for the three days are $4,900. B. Collected rent revenue of $4,800 on December 12 of Year 1 for office space that Walnut rented to another company. The rent collected was for 30 days from December 12 of Year 1 to January 10 of Year 2. Record the collection of rent on December 12.Required:1. With respect to wages, provide the adjusting entry required at the end of year 1 and the journal entry required on January 6 of year 2.2. With respect to rent revenue, provide the journal entry for the collection of rent on December 10 and the adjusting entry required on December 31.
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Read the rejection follow-up letter, and answer the following question. Dear Ms. Gonzalez: Although I am disappointed to hear that you have selected another candidate for the marketing position, I appreciate your prompt and courteous communication. Because I believe I have the organizational and technical skills needed to work in a growing company like EdCo, I hope you will keep my rsum in your active file. My desire to work for your company remains strong. I enjoyed meeting with you, and I appreciate your thorough explanation of your company's growth and future goals. To enhance my qualifications, I have enrolled in a course on Intercultural Communication in the Workplace at ZSU. If you have an opening for a position I am qualified for, please contact me at (345) 435-3532. I will contact you in the next month to discuss employment possibilities. Sincerely, Janet Havasu What is effective about the letter? It uses memo format. It asks specific questions about the position. It refers to specifics in the applicant's interview. When writing a letter turning down a job offer, what guideline should you follow? Include specific reasons why you didn't like the job. Compose your message on personal stationery. Express gratitude and best wishes for the future.
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In a Las Vegas casino, an employee discovered a flaw in the accounting system. The accounts payable clerk discovered that he was able to change the names of vendors in the computer system to his name. As a result, the employee could create false invoices and then cut a check for the false invoice. The name on the check would be changed to the name of the employee. After the check was printed, the name in the system could then be changed back to the appropriate vendor. The check register would show only the name of the vendor. The fraudulent employee had authorization to sign checks under $1,000. By writing small checks, the employee was able to defraud the company of $10,000. This fraud was caught by accident then the employee of another department was looking through the vendor list on her computer after the fraudulent employee had changed the vendor name to his name. A few entries later, the vendor name changed again. She wondered how this could occur and asked her supervisor. Soon after, the fraudulent employee was caught.1. What kind of fraud is being committed?2. What percent of frauds are of this type?3. How could this fraud have been prevented?
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Consider the case of Demed Inc.: Demed Inc. has 9% annual coupon bonds that are callable and have 18 years left until maturity. The bonds have a par value of $1,000, and their current market price is $1,130.35. However, Demed Inc. may call the bonds in eight years at a call price of $1,060. What are the YTM and the yield to call (YTC) on Demed Inc.s bonds? Value YTM YTC If interest rates are expected to remain constant, what is the best estimate of the remaining life left for Demed Inc.s bonds? 18 years 13 years 5 years 8 years If Demed Inc. issued new bonds today, what coupon rate must the bonds have to be issued at par?
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