Additional data for the current year are as follows: (a) Net income, $75,800. (b) Depreciation reported on income statement, $38,000. (c) Fully depreciated equipment costing $60,000 was scrapped, no salvage, and equipment was purchased for $150,000. (d) Bonds payable for $75,000 were retired by payment at their face amount. (e) 2,500 shares of common stock were issued at $30 for cash. (f) Cash dividends declared and paid, $40,000. (g) Investments of $100,000 were sold for $125,000.
Answers
Answer:
Note: Full question is attached as picture below
Barry Company
Statement of Cash Flows
For the Tear Ended December 31, Year 2
Cash flows from operating activities:
Net income $75,800
Adjustments to reconcile net income to
net cash flow from operating activities:
Depreciation expense $38,000
Gain on sale of investments -$25,000
Changes in current operating
assets & liabilities:
Decrease in Accounts receivable $9,200
Increase in inventories -$16,000
Increase in Accounts payable $12,500
Net cash flow from operating activities $94,500
Cash flows from investing activities:
Sale of investments $125,000
Purchase of equipment -$150,000
Net cash flow used for investing activities -$25,000
Cash flows from financing activities:
Retirement of bonds payable -$75,000
Issuance of common stock $75,000
Payment of dividends -$40,000
Net cash flow used for financing activities -$40,000
Net increase in cash $29,500
Cash at the beginning of the year $42,500
Cash at the end of the year $72,000
Related Questions
In the current year, she sold her interest in Activity D for a $10,000 gain. Activity D, which had been profitable until last year, had a current loss of $1,500. Answer the following questions to determine how the sale of Activity D affects Sarah's taxable income in the current year. a. The amount of suspended losses carried forward to the year of the sale is $fill in the blank 1 20,000 . b. What amount of the suspended losses is allocated to Activity D
Answers
Answer:
a. -$20,000
b. -$2,000
Explanation:
a. The amount of suspended losses carried forward to the year:
= 30,000 + (-30,000) + (-15,000) + (-5,000)
= -$20,000
b. Suspended losses allocated to Activity D:
First find the total amount of losses:
= -30,000 - 15,000 - 5,000
= -$50,000
Activity B accounted for -$5,000 of this loss.
Suspended losses to be allocated to D would therefore be:
= -5,000 / - 50,000 * -20,000
= -$2,000
The options for closing inventory is
A. 10.50
B. 10
C. 10.25
Total cost options are
A. 8,050
B. 8,000
C. 8,200
Answers
Answer:
i think A
Explanation:
I hope this helps:)))
Why would an investor prefer purchasing bonds to purchasing stocks?
A. Unlike stocks, bonds are guaranteed to return a profit to the
investor.
B. Bonds are typically less risky than stocks.
O C. Unlike stocks, when an investor owns bonds, they own a tiny part
of the company
D. Bonds are more likely than stocks to make huge profits.
Answers
Answer:
B. Bonds are typically less risky than stocks.
Explanation:
Answer: B. Bonds are typically less risky than stocks
Explanation:a. p. e. x. (just took the test)
Which account option may require larger money contributions than usual but offers a higher interest rate than traditional savings?
Certificate of deposit
Checking
Money market
Saning
Answers
Answer:
Money Market
Explanation:
I just did this
On January 1, a company issued and sold a $399,000, 9%, 10-year bond payable, and received proceeds of $394,000. Interest is payable each June 30 and December 31. The company uses the straight-line method to amortize the discount. The journal entry to record the first interest payment is:
Answers
Answer:
Cash Interest payable on Bond = $399,000*4.5% = $17,955
Discount to be amortized = ($399,000-$394,000)/20 = $250
Interest expense = $17,955+$250 = $18,205
Date Journal Entry Debit Credit
Interest Expense $18,205
Discount on bonds payable $250
Cash $17,955
Potts company uses a job costing system and had the following data available for 20X9.
Cost of raw materials purchased on account $ 75,000
Cost of raw materials requisitioned(includes
$2,000 of indirect materials) $ 43,000
Direct labor cost incurred $ 75,000
Manufacturing overhead costs incurred $ 95,000
Cost of goods completed $ 226,750
Cost of goods sold $ 138,000
Raw materials inventory, Jan. 1, 20X9 $ 15,000
Work in process inventory, Jan. 1, 20X9 $ 32,000
Finished goods inventory, Jan. 1, 20X9 $ 31,000
Pre-determined manufacturing overhead rate 125% (as a percent of direct labor cost)
Refer to Case 1.
The journal entry to record the total materials placed into production would include which of the following?
A) debit to manufacturing overhead for $41,000
B) debit to work in process for $43,000
C) debit to work in process for $41,000
D) credit to manufacturing overhead for $2.000
Refer to Case 2.
The journal entry to record the actual manufacturing overhead costs incurred would include which of the following?
A) debit to manufacturing overhead $95,000
B) debit to work in process for 93.750
B) credit to work in process $95,000
C) credit to manufacturing overhead $93,750
Answers
Answer:
1. C) debit to work in process for $41,000
2. A) debit to manufacturing overhead $95,000
Explanation:
1. The materials that were placed into production are:
= Cost of raw materials requisitioned - indirect materials
= 43,000 - 2,000
= $41,000
This will be debited to the Work in Progress as it is a direct cost.
2. Manufacturing overhead for the period is $95,000 and this will go to the manufacturing overhead account as a debit because it is an expense.
Jane's Donut Co. borrowed $198,000 on January 1, 2021, and signed a two-year note bearing interest at 11%. Interest is payable in full at maturity on January 1, 2023. In connection with this note, Jane's should report interest expense at December 31, 2021, in the amount of: Multiple Choice
Answers
Answer:
$21,780
Explanation:
Calculation to determine what Jane's should report interest expense at December 31, 2021, in the amount of:
Interest expense at December 31, 2021=$198,000 x 11% x 12/12
Interest expense at December 31, 2021= $21,780
Therefore Jane's should report interest expense at December 31, 2021, in the amount of: $21,780
Suppose that an increase in the price of melons from $0.50 to $1.50 per pound increases the quantity of melons that melon farmers produce from 2 million pounds to 4 million pounds. The price elasticity of supply in this case indicates that supply is Group of answer choices
Answers
Answer: elastic
Explanation:
The price elasticity of supply will be:
The percentage change in price will be:
= (1.50 - 0.50)/0.50 x 100
= 1.00/0.50 × 100
= 200
The percentage change in quantity will be:
= (4 -2)/2 x 100
= 2/2 × 100
= 100
Elasticity = % change in quantity/% Change in Price = 200/100 = 2
Since elasticity = 2, this indicates supply is elastic as it's greater than 1.
You enter into a short crude oil futures contract at $43 per barrel. The initial margin is $3,375 and the maintenence margin is $2,500. One contract is for 1,000 barrels of oil. By how much do oil prices have to change before you receive a margin call
Answers
Answer:
The correct answer is "43.875". A further explanation is provided below.
Explanation:
The given values are:
Initial margin,
= $3,375
Maintenance margin,
= $2,500
Barrels of oil,
= 1,000
Now,
The loss on the position will be:
= [tex]3375-2500[/tex]
= [tex]875[/tex] ($)
then,
⇒ [tex]1000 (P - 43) = 875[/tex]
⇒ [tex]1000P-43000=875[/tex]
On adding "43000" both sides, we get
⇒ [tex]1000P-43000+43000=875+43000[/tex]
⇒ [tex]1000P=43875[/tex]
⇒ [tex]P=\frac{43875}{1000}[/tex]
⇒ [tex]=43.875[/tex]
If Serena runs her own business and is responsible for everything, she is a/an
Answers
Answer:An entrepreneur
Explanation:
An entrepreneur is an individual who starts and runs a business with limited resources and planning, and is responsible for all the risks and rewards of her business venture.
Cameron, Inc. held 1,000 shares of its own $10 par value common stock purchased for $20 per share. In March, Cameron sold 10 shares at $20 per share. The journal entry to record the sale of treasury stock would include a (debit/credit) ________ to Treasury Stock in the amount of ________.
Answers
Answer:
Credit, $200
Explanation:
The journal entry would be:
Date Account Debit Credit
Cash $200
(10 shares*$20)
Treasury stock $200
(To record the sale of treasury stock)
A company projects an increase in net income of $135,000 each year for the next five years if it invests $900,000 in new equipment. The equipment has a five-year life and an estimated salvage value of $300,000. What is the annual rate of return on this investment
Answers
Answer:
the annual rate of return is 22.50%
Explanation:
The computation of the annual rate of return is shown below:
Average investment is
= ($900,000 + $300,000) ÷ 2
= $600,000
Now
Annual rate of return is
= Annual net income ÷ Average investment
= $135,000 ÷ $600,000
= 22.50%
hence, the annual rate of return is 22.50%
Blue Corporation purchased a truck at the beginning of 2020 for $61,000. The truck is estimated to have a salvage value of $2,440 and a useful life of 195,200 miles. It was driven 28,060 miles in 2020 and 37,820 miles in 2021. Compute depreciation expense using the units-of-production method for 2020 and 2021.
Depreciation expense for 2020
Depreciation expense for 2021
Answers
Answer:
Depreciation expense for 2020 = $8,418
Depreciation expense for 2021 = $11,346
Explanation:
Depreciation expense using the units-of-production method is determined as follows :
Depreciation expense = Depreciation rate x annual usage
where,
Depreciation rate = (Cost - Salvage Value) ÷ Estimated usage
= ($61,000 - $2,440) ÷ 195,200 miles
= $0.30 per mile
thus,
Depreciation expense for 2020
Depreciation expense = $0.30 per mile x 28,060 miles
= $8,418
Depreciation expense for 2021
Depreciation expense = $0.30 per mile x 37,820 miles
= $11,346
Suggest strategies to succeed in outsourcing its HR services
Answers
Answer:
The answer is below.
Explanation:
The strategies of a company to succeed in outsourcing its HR services
1. Internal Analysis and Baselining: this involves the cost and value analysis of using internal HR vs Outsourcing HR
2. Understanding Cost vs. Value of HR: knowing what the cost and value of outsourcing entails can go a long way in determining whether it offers the value the company wants
3. Identifying Core Competencies: realizing the competencies of outsourcing HR particularly in the area of competitive advantage of the company.
4. Aligning Technology to Support Operational Objectives: utilization of outsourcing HR technology and operational support ensure the company doesn't cure additional coast
5. Agreeing on Expectations with HR Outsourcer: knowing what to expect and agreed on the outcome of the outsourcing process is one of the key strategies.
6. Addressing and Enforcing Performance Metrics: Also, the expected performance and what is needed to be achieved should be discussed and ensured it is ultimately accomplished.
If we add successive laborers to work a given amount of land on a wheat farm, eventually:____.
a. the increases in wheat harvested will get larger and larger.
b. average total cost will fall to zero.
c. the increases in wheat harvested will rise at a constant rate.
d. the increases in wheat harvested will get smaller and smaller.
Answers
Answer:
d. the increases in wheat harvested will get smaller and smaller.
Explanation:
A marginal rate of technical substitution (MRTS) can be defined as an economic principle which is typically used to represent the rate at which a factor such as capital must decrease so that the same level or quantity of production is maintained when another factor such as labor is changed (increased).
An isoquant is the slope of a marginal rate of technical substitution (MRTS) which connects the two input factors provided that the level of output or production is the same.
Also, the diminishing marginal rate of technical substitution refers to the decline (fall) in marginal rate of technical substitution (MRTS) along an isoquant that produces the same quantity (level) of output.
When an isoquant has a diminishing marginal rate of technical substitution, the corresponding isoquants are convex to the origin. Thus, the marginal rate of technical substitution (MRTS) would continue to diminish as more of a factor such as capital is used.
If we add successive laborers to work a given amount of land on a wheat farm, eventually the increases in wheat harvested will get smaller and smaller.
Answer:
d. the increases in wheat harvested will get smaller and smaller.
Explanation:
If we add successive laborers to work a given amount of land on a wheat farm, eventually: the increases in wheat harvested will get smaller and smaller.
nm bn nb nbg ghcgfhjhibhjbhj
Answers
Umm Chile... anyway so
MAD Inc. has a capital structure consisting of 40 percent debt and 60 percent common equity financing. The company has $400 million in net income and plans to pay out 25 percent of their earnings as dividends. What is the maximum amount of new financing that the company can raise without selling new common stock
Answers
Answer:
$500 million
Explanation:
Retained earnings = Income * (1 - Dividend payout percentage)
Retained earnings = $400 million * (1-0.25)
Retained earnings = $400 million * 0.75
Retained earnings = $300 million
Amount that can be raise without selling new stock: Retained earnings / % of equity financing in total capital
= $300 million / 60%
= $300 million / 0.60
= $500 million
Which government agency oversees &
provides information on identity theft?
O Department of the Treasury
O Federal Communications Commission
O Major League Baseball
O Federal Trade Commission
Answers
Sage Company is operating at 90% of capacity and is currently purchasing a part used in its manufacturing operations for $16.00 per unit. The unit cost for the business to make the part is $20.00, including fixed costs, and $11.00, excluding fixed costs. If 32,842 units of the part are normally purchased during the year but could be manufactured using unused capacity, what would be the amount of differential cost increase or decrease from making the part rather than purchasing it
Answers
Answer:
$164,210 decrease
Explanation:
Calculation to determine what would be the amount of differential cost increase or decrease from making the part rather than purchasing it
Differential cost increase or decrease=(32,842 * 16)- (32,842 * 11)=
Differential cost increase or decrease=$525,472-$361,262
Differential cost increase or decrease=$164,210 decrease
Therefore what would be the amount of differential cost increase or decrease from making the part rather than purchasing it is $164,210 decrease
Customers have become increasingly anxious about breaches of privacy, and it is essential for marketing researchers to _________. Group of answer choices conceal consumers' addresses and phone numbers when they share information share information only with the sales department for follow-up respect and protect the privacy of customers without question refer to the company's code of ethics to determine what information can be released All of these
Answers
Answer:
All of these.
Explanation:
Marketing can be defined as the process of developing promotional techniques and sales strategies by a firm, so as to enhance the availability of goods and services to meet the needs of the end users or consumers through advertising and market research.
Market research can be defined as a strategic technique which typically involves the process of identifying, acquiring and analyzing informations about a business. It involves the use of product test, surveys, questionnaire, focus groups, interviews, etc.
Over the years, customers have become increasingly anxious about breaches of privacy and compromise of their data by business firms. Thus, it is essential for marketing researchers to;
I. Conceal or hide consumers' addresses (both work and home) and phone numbers when they share information on any platform.
II. They should only share customer information with the sales department for follow-up.
III. Respect and protect the privacy of all of their customers without question or recourse.
IV They should always refer to the company's code of ethics so as to determine what information are permitted to be released for public consumptions.
MFK Corp. wants to raise capital and is considering an offer of bonds and debentures. It is not sure of a particular disclosure requirement, so MFK poses its question to the SEC and requests an interpretation letter. If the SEC issues an interpretive letter addressing MFK's question and MFK follows the statements contained in the letter, MFK cannot be penalized should the advice be incorrect.
a. True
b. False
Answers
Answer:
B FALSEEEEEEEEEEEEEEEEEEEE
910. Show the relationship between short-run MC and MP1, and AYC and AP, mathematically
and graphically (1pts)
Answers
Explanation:
MC is at its minimum at the same output for which MP is at its maximum; AVC is at its minimum at the same output for which AP is at its maximum. A technological advance that increases productivity shifts the product curves upward and cost curves downward.
WILL GIVE BRAINLIEST PLS ANSWER (PERSONAL AND FAMILY FINANCE)
Yusef’s financial advisor tells him that he has made a great budget. Why was he MOST likely successful with his budget?
A.
He refused to accept any changes to it.
B.
He did not share the information with his family.
C.
He chose realistic amounts for each category.
D.
He was the only member of the family who crafted it.
Answers
Answer: A
Explanation:
Yusef’s financial advisor tells him that he has made a great budget. He is most likely successful with his budget because he refused to accept any changes to it. Option (a) is correct.
What do you mean by Budget?A budget is a financial plan that projects future earnings and costs.
The Personal and Family Finance assessment and certification will cover both foundational skills for personal and family finance careers as well as skills required for success in managing personal and family financial matters in daily life (a necessary skill set to maximize success in all career areas).
The phrase "personal finance" refers to managing your finances as well as saving and investing. It includes financial planning for retirement, taxes, and estates, as well as banking, insurance, mortgages, and investments.
Therefore, Option (a) is correct. He refused to accept any changes to it.
Learn more about Budget, here;
https://brainly.com/question/15683430
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This year Andrews achieved an ROE of 30.2%. Suppose management takes measures that increase Asset turnover (Sales/Total Assets) next year. Assuming Sales, Profits, and financial leverage remain the same, what effect would you expect this action to have on Andrews's ROE
Answers
Answer:
The answer is " Andrews ROE increases."
Explanation:
Please find the complete question in the attached file.
Using formula:
[tex]\text{ROE = Profit Margin} (\frac{Profit}{Sales}) \times \text{Total Asset Turnover} (\frac{Sales}{Assets}) \times \text{Equity Multiplier} (\frac{Assets}{Equity})[/tex]
As total asset sales (sales/assets) decline whereas other items remain constant, ROE decreases. Or we could assume that growth of asset turnover would result in increased ROE, culminating in much more sales per unit of asset held by the firm.
Assume that Saudi Arabia has production possibilities to produce either 100 barrels of oil using 100 worker hours or 25 bushels of corn using 100 worker hours. If it decides to produce 60 barrels of oil, how many bushels of corn can it produce
Answers
Answer: 10 bushels
Explanation:
If they produce 100 barrels of oil using 100 worker hours, it means that the number of work hours taken for 1 barrel is:
= 100 / 100
= 1 work hour
For bushels however, 1 worker hour produces:
= 25 / 100
= 0.25 bushels of corn
If 60 barrels of oil are produced, it means 60 worker hours were used which would leave 40 worker hours.
Bushels of corn produced is therefore:
= 40 * 0.25
= 10 bushels
Suppose you borrow $8,000 of principal that must be repaid at the end of two years, along with interest of 4 percent a year. If the annual inflation rate turns out to be 6 percent,
Instructions: Enter your responses rounded to the nearest whole number. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers.
a. What is the real rate of interest on the loan?
b. What is the real value of the principal repayment?
Hint: Future value = Present value × (1 + Growth in prices)t, where t is the number of years evaluated, e.g., The real value of loan repayment = Amount of loan × (1 + Real interest rate)t
c. Who loses, the debtor or the creditor?
Answers
I do not know, i just need points :/
A company with 100,000 authorized shares of $7 par common stock issued 46,000 shares at $16. Subsequently, the company declared a 2% stock dividend on a date when the market price was $30 per share. What is the amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend
Answers
Answer:
$27,600
Explanation:
Amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend:
= Shares issued * Percentage of stock dividend * Market price
= 46,000 shares * 2% * $30
= 46000*0.02*$30
= $27,600
g at the close of its first year of operations, december 31, 2020, delaware company reported net realizable value of accounts receivable of $1,620,000. during 2020,the company had charges to bad debt expense of $270,000 and wrote off, as uncollectible, accounts receivable of $120,000. what should the company report on its balance sheet at december 31, 2020, as accounts receivable before the allowance for doubtful accounts
Answers
Answer:
$1,770,000
Explanation:
Given the above information, the computation of accounts receivable before the allowance is shown below;
= Beginning account receivable balance + Bad debt expense - Uncollectible accounts receivables
= $1,620,000 + $270,000 - $120,000
= $1,770,000
The bad debt is an expense hence will be added whereas the account receivable which is yet to be collected should be deducted the computation part.
Rhoda Morgenstern just settled an insurance claim. The settlement calls for increasing payments over a 20-year period. The first payment will be paid one year from now in the amount of $50,000. The following payments will increase by 2 percent annually. What is the value of this settlement to Rhoda today if she can earn 5 percent on her investments
Answers
Answer:
PV = $733,271
Explanation:
From the given information:
The annual payment (P) = $50,000
number of years (n) = 20
The growth percentage = 2% = 0.02
Rate of percentage earned = 5% = 0.05
Using the formula illustrated below to determine the Present Value (PV) of a growing annuity;
[tex]PV = \dfrac{P}{r-g}\Big ( 1 - \Big ( \dfrac{1+g}{1+r} \Big) ^n \Big)[/tex]
[tex]PV = \dfrac{50000}{0.05-0.02}\Big ( 1 - \Big ( \dfrac{1+0.02}{1+0.05} \Big) ^{20} \Big)[/tex]
[tex]PV = \dfrac{50000}{0.03}\Big ( 1 - \Big ( \dfrac{1.02}{1.05} \Big) ^{20} \Big)[/tex]
[tex]PV =1666666.667 \Big ( 1 - \Big ( 0.9714285714 \Big) ^{20} \Big)[/tex]
[tex]PV =1666666.667 \Big ( 1 -0.5600379453 \Big)[/tex]
[tex]PV =1666666.667 \Big (0.4399620547 \Big)[/tex]
[tex]PV =\$733270.0913 \\ \\ \mathbf{PV \simeq \$733,271}[/tex]
examples of veriable costs
Answers
Answer:
Exmples are : labor wage, cost of inputs
Explanation:
Variable cost are the costs that are changing with changing in inputs or production.