In Coronado Company, total materials costs are $38,000, and total conversion costs are $54,480. Equivalent units of production are materials 10,000 and conversion costs 12,000. Compute the unit costs for materials and conversion costs.


Materials cost per unit:__________ $
Conversion cost per unit:________ $
Compute total manufacturing costs:________ $

Answers

Answer 1

Answer:

Materials cost per unit: $3.80

Conversion cost per unit:  $4.54

Compute total manufacturing costs: $92,480

Explanation:

Unit Costs = Total Cost ÷ Total Equivalent Units

1. Materials

Unit Cost = $38,000 ÷ 10,000

                = $3.80

2. Conversion Costs

Unit Cost = $54,480 ÷ 12,000

                = $4.54

Total Manufacturing Costs :

Materials                      $38,000

Conversion Costs        $54,480

Total                              $92,480


Related Questions

You see me now 4 kkt

Answers

Answer:

ncvbhrdfh

Explanation:

Answer:

hgfjttfgk,jnhlkgfk,hjlhj

Explanation:

The Titanic Shipbuilding Company has a noncancelable contract to build a small cargo vessel. Construction involves a cash outlay of $273,000 at the end of each of the next two years. At the end of the third year the company will receive payment of $650,000. Assume the IRR of this option exceeds the cost of capital. The company can speed up construction by working an extra shift. In this case there will be a cash outlay of $595,000 at the end of the first year followed by a cash payment of $650,000 at the end of the second year. Use the IRR rule to show the (approximate) range of opportunity costs of capital at which the company should work the extra shift.

The company should work the extra shift if the cost of capital is between ___________ % and ___________ %

Answers

Answer:

19% to 19.7%

Explanation:

Cost of capital is the firm cost of sources of financing. It includes debt, equity and all other sources of finance with keeping the track of their required rate of return. The cost of capital is the expected return which is required by the lenders of fund.

So, I'm just wondering, but what is the best job in Mesa, AZ?
I know that's not what this website is for, but I need to know and this is the only website I can go to for help.

Answers

Answer:

I'm not really sure but you can definitely google the highest paid jobs there.

Read the following paragraph and copy and paste the sentence which contains the central idea:

The strength in global growth is broad-based across countries that growth has recently exceeded its post-crisis average across almost all major DM and EM countries. Among advanced economies, the three-month moving average of the CAI has been particularly strong in the Euro area and Sweden (around 2pp above their post-crisis average), Japan (1.3pp) and the US (1.1pp). A number of EM economies have recently outpaced their post-crisis average, although growth is likely still below potential in a number of emerging economies.

Answers

Answer:

The third sentence.

Explanation:

The third sentence contains the central idea of the passage/paragraph.

- A number of DM (Developed Market) economies have recently outpaced their post-crisis average, although growth is likely still below potential in a number of EM (Emerging Market) economies.

The first sentence somewhat defines "strength in global economic growth". The second sentence gives statistics, particularly on the quality of growth in advanced economies (DM economies).

The third sentence summarizes both points and clarifies that potential for growth is still existent in emerging economies.

connecting u dropped its price from $20 to $16 per gigabyte of data. Joe according to the midpoint formula, Connecting U reduced its price by what percentage?

Answers

Answer:

-$22.2

Explanation:

The computation of price by percentage is shown below:-

Price by percentage = (End price - Beginning price) ÷ (End price - Beginning price) ÷ 2 × 100

= ($16 - $20) ÷ ($16 - $20) ÷ 2 × 100

= -$4 ÷ $18 × 100

= -$400 ÷ $18

= -$22.2

So, we have applied the above formula.

And, the same is to be considered

Connecting u dropped price in percentage is 22.2%

Midpoint formula:

Given that;

Old price = $20

New price = $16

Find:

Connecting u dropped price in percentage

Computation:

[tex]Dropped\ price\ in\ percentage=[\frac{16-20}{\frac{16+20}{2} }]100\\\\Dropped\ price\ in\ percentage=[\frac{16-20}{18}]100\\\\Dropped\ price\ in\ percentage=[\frac{-4}{18}]100\\\\Dropped\ price\ in\ percentage=22.2[/tex]

Connecting u dropped price in percentage = 22.2%

Find out more information about 'Midpoint formula'

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Deal Leasing leased equipment to Hand Company on January 1, 2021. The leased equipment's book value is $420,000 with no estimated residual value at the end of its useful life. The remaining useful life of the leased equipment is 15 years. The lease payments were calculated to provide the lessor a 10% return. Ten annual lease payments of $60,000 are due at the beginning of each year beginning January 1, 2021. Both companies use the straight-line method in depreciation/amortization their assets.

Answers

Answer:

The requirements are missing, so I looked for a similar question. This is a financial lease since the PV of the lease payments represents 97% of the asset's value.

 

January 1, 2021, equipment leased from Deal leasing

Dr Right of use asset 405,541.20

    Cr Lease liability 405,541.20

the right of use asset = PV of lease payments = $60,000 x 6.75902 (PV annuity due, 10%, 10 periods) = $405,541.20

January 1, 2021, first lease payment

Dr Lease liability 60,000

    Cr Cash 60,000

December 31, 2021, depreciation expense on leased asset

Dr Depreciation expense 40,554.12

    Cr Accumulated depreciation 40,554.12

depreciation expense = $405,541.20 / 10 = $40,554.12

December 31, 2021, interest expense on asset lease

Dr Interest expense 34,554.12

    Cr Interest payable 34,554.12

interest expense = ($405,541.20 - $60,000) x 10% = $34,554.12  

Svetlana won $1,000,000 in a contest, to be paid in twenty $50,000 payments at yearly intervals, the first payment paid at the time of the contest. (Of course, the present value of her winnings is less than $1,000,000.) Svetlana decided to keep X each year to spend and deposit the remaining $50;000 X into an account earning an annual effective interest rate of 5%. She chose the value X to be as large as possible so that, at the moment of the 20th deposit, the account would have grown to such a size that it would provide Svetlana and her heirs at least X per year in interest forever. Find X.

Answers

Answer: 31155.5

Explanation:

The following can be deduced from the question:

Money won = $1,000,000

Installments made yearly = $50,000

Interest rate = 5%

The yearly deposits made by Svetalana will be: = 500000-x

The future Value of the yearly deposits made by Svetalana will be:

= (50000-x) × (1/(1.05) + (1/(1.05)^2 .....(1/(1+0.05)^20))

= (500000-x) × 33.066

We should recall that the interest from the question is equated to x. This will be:

33.066 × (50000-x) × 0.05 =x

1.6533(50000 - x) = x

82665 - 1.6533x = x

2.6533x = 82665

x = 82665/2.6533

x = 31155.5

5. What are the advantages of relying solely on streaming services
for TV, what are the disadvantages?
HELP ME PLEASE I WILL GIVE YOJ BRAINLYIST

Answers

the advantages are that you barely have any ads, or commercial breaks. the disadvantages are if the internet is slow then its difficult to watch your show or movie

Answer:

By watching something live and streaming. Disadvantages is not wanting to watch what you want.

Consider a multifactor model with two factors. A well-diversified portfolio (Portfolio P) has a beta of 0.75 on factor 1 and a beta of 1.25 on factor 2. The risk premiums on the factor 1 and factor 2 are 1% and 7%, respectively. The risk-free rate of return is 7%. What is the expected return on portfolio P, according to a two-factor model

Answers

Answer: 16.5%

Explanation:

Expected Return on portfolio P will be calculated as:

= Rf + (Beta1 × F1) + (Beta2 × F2)

where,

Rf = Risk Free rate

F1 = risk premium on Factor1

F2 = risk premium on Factor2

Expected Return will now be:

= 7% + (0.75 × 1%) + (1.25 × 7%)

= 7% + 0.75% + 8.75%

= 16.5%

The expected return on portfolio P, according to a two-factor model will be 16.5%.

Answer:

16.5%

Explanation:

A multi-factor model can be used to explain either an individual security or a portfolio of securities. It does so by comparing two or more factors to analyze relationships between variables and the resulting performance.

DATA

Risk Free rate  = Rf = 7%

risk premium on Factor1  = F1 =  1%

Beta (Factor 1) = 1.25

risk premium on Factor2  = F2 = 7%

Beta (Factor 1) = 2

Expected Return = Rf + (Beta1 x F1) + (Beta2 * F2)

Expected Return = 7% + (0.75 x 1%) + (1.25 x 7%)

Expected Return = 0.07 + 0.0075 + 0.0875

Expected Return = 0.165 or  16.5%

asper makes a $28,000, 90-day, 8.5% cash loan to Clayborn Co. The amount of interest that Jasper will collect on the loan is: (Use 360 days a year.)

Answers

Answer:

$595

Explanation:

The computation of the amount of interest is shown below:-

Amount of interest = Loan amount × Interest rate × Number of days ÷ Number of days in a year

= $28,000 × 8.5% × 90 ÷ 360

= $595

Therefore for computing the amount of interest we simply applied the above formula.

And the same is to be considered

On January 1, 2021, Taco King leased retail space from Fogelman Properties. The 10-year finance lease requires quarterly variable lease payments equal to 3% of Taco King's sales revenue, with a quarterly sales minimum of $600,000. Payments at the beginning of each quarter are based on previous quarter sales. During the previous 5-year period, Taco King has generated quarterly sales of over $750,000. Fogelman's interest rate, known by Taco King, was 4%. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)
Required:
1. Prepare the journal entries for Taco King at the beginning of the lease at January 1, 2021.
2. Prepare the journal entries for Taco King at April 1, 2021. First quarter sales were $760,000. Amortization is recorded quarterly.

Answers

Answer:

Jan 1st, 2021 entry:

Equipment    746,168 debit

    Lease Liability    723,668 credit

    Cash                     22,500 credit

April 1st, 2021 entry:

Interest expense    7,537 debit

Lease Liability       15,263 debit

         Cash              22,800 credit

Explanation:

We will assume a 750,000 sales revenue per quarter. As this was their historical and expected value:

750,000 x 3% = 22,500 per quarter

Now, we solve for the present value of the lease payment:

[tex]C \times \frac{1-(1+r)^{-time} }{rate}(1+r) = PV\\[/tex]

C 22,500

time 40 (10 years x 4 quarter per year)

rate 0.01 (4% annual / 4 quarters)

[tex]22500 \times \frac{1-(1+0.01)^{-40} }{0.01}(1+0.01) = PV\\[/tex]

PV $746,168.2419

we subtract the first payment of 22,500

lease liability reocrded in the enrty: 723.668

As lease sales were 760,000

lease payment: 760,000 x 3% = 22,800

less expected of 22,500 = 300 additional interest expense

interest expense: 723,668 x 0.01 = 7,237 + 300 = 7,537

amortization on lease liability: 22,800 -7,537 = 15,263

Wholemark is an Internet order business that sells one popular New Year greeting card once a year. The cost of the paper on which the card is printed is $0.40 per card, and the cost of printing is $0.10 per card. The company receives $3.75 per card sold. Since the cards have the current year printed on them, unsold cards have no salvage value. Their customers are from the four areas: Los Angeles, Santa Monica, Hollywood, and Pasadena. Based on past data, the number of customers from each of the four regions is normally distributed with mean 2,300 and standard deviation 200. (Assume these four are independent.)
What is the optimal production quantity for the card?

Answers

Answer:

9644

Explanation:

cost of paper on which a card is printed = $0.40 per card

cost of printing = $0.10 per card

profit made per card sold = $3.75

number of areas where customers are located (n)= 4

mean of customers from each region = 2300

standard deviation for each region = 200

note : each region is independent

The optimal production quantity for the card can be calculated going through these steps

first we determine

the cost of card = $0.10 + $0.40 = $0.50

selling value = $3.75

salvage value = 0

next we calculate for the z value

= ( selling value - cost of card) /  ( selling price - salvage value )

= ( 3.75 - 0.50 ) / 3.75  = 0.8667

Z( 0.8667 ) = 1.110926 ( using excel formula : NORMSINV ( 0.8667 )

next we calculate

u = n * mean demand

  = 4 *  2300 = 9200

б = [tex]200\sqrt{n}[/tex] = 200 * 2

  = 400

Hence optimal production quantity for the card

= u + Z (0.8667 ) * б

= 9200 + 1.110926 * 400

= 9644.3704

≈ 9644

• What are the advantages and disadvantages of owning versus outsourcing for each of these components (staff, computer servers, software licensing, and data storage)?

Answers

Answer:

Explanation below

Explanation:

Outsourcing simply involves the act of contracting our certain business activities and processes to third-party providers.  

Staff

When you outsource your staff, you can be able to save cots and use the freed capital for other things but the disadvantage would certainly be around the issue of confidentiality of business information.  

When you outsource computer servers, software licensing, and data storage, you would gain access to world-class capabilities because the third-party providers would likely provide them to meet their customers.  

There would also be shared risks as part of the benefits. The disadvantages could include loss of control. People who discourage outsourcing of these functions are of the opinion that third-party vendor cannot be able to match the level of responsiveness and levels of services that could be offered by an in-house team

Robert G. Flanders Jr., the state-appointed receiver for Central Falls, RI, said his city's declaration of bankruptcy had proved invaluable in helping it cut costs. Before the city declared bankruptcy, he said, he had found it impossible to wring meaningful concessions out of the city's unions and retirees, who were being asked to give up roughly half of the pensions they had earned as the city ran out of cash.
True or False

Answers

Answer:

False

Explanation:

Missing question: The ability to declare bankruptcy increased the disagreement value of the city during negotiation with the unions

Alternatives available to an agreement determine the terms of an agreement. If bankruptcy is been declared in a situation where the cities can manipulate  and evade much of their pension obligations owed to unions, such scenarios gives the city a much better alternative, if the favorable agreement with the city's unions and retirees emerge.

g you are eligible for a 30 year fixed rate home mortgage with 3.6% interest rate what is the maximum loan you can get

Answers

Answer:

the maximum loan is $379,417

Explanation:

The computation of the maximum loan is shown below:

As we know that

Maximum Loan = Present Value of all monthly Payments

=  $1,725 × PVAF(0.3%,360 months)

= $1,725 × [1- (1+0.003)^-360] ÷ 0.003

= $1,725 × 219.9517

=  $379,417

hence, the maximum loan is $379,417

Here the interest rate is divided by 12 and the months should be multiplied by 12 as this is the case of monthly basis

Answer:

money

Explanation:

The stock of Static Corporation has a beta of 0.7. If the expected return on the market increases by 6%, the expected return on Static Corporation should increase by

Answers

Answer:  4.2%

Explanation:

Beta is a measure of sensitivity of a stock in that it measures how the stock reacts to a movement in market return. The Beta of the Market is 1.

If a Stock's Beta is 2, this means that if expected market return increases by 1%, the stock's expected return will increase by 2%. If a Stock's beta is 0.5 then if the expected return on the market increases by 1%, the stock's expected return will increase by 0.5%.

In this case the expected return on the market increases by 6% so the expected return on Static Corporation should increase by;

= 0.7 * 6%

= 4.2%

Marketing by the Numbers: Pricey Sheets
Many luxury sheets cost less than $200 to make but sell for more than $500 in retail stores. Some cost even more consumers pay almost $3,000 for Frett'e "Tangeri Pizzo king-size luxury linens. The creators of a new brand of luxury linens, called Boll & Branch, have entered this market and are determining the price at which to sell their sheets directly to consumers online. They want to price their sheets lower than most brands but still want to earn an adequate margin on sales. The sheets come in a luxurious box that can be reused to store lingerie, jewelry, or other keepsakes. The Boll & Branch brand touts fair trade practices when sourcing its high-grade long staple organic cotton from India. Given the cost information below, refer to Appendix 2: Marketing by the Numbers to answer the following questions.
Cost/King-size Set
Raw Cotton $28.00
Spinning/Weaving/Dyeing $12,00
Cut/Sew/Finishing $10,00
Material Transportation $3,00
Factory Fee $16,00
Inspection and Import Fees $14,00
Ocean Freight/Insurance $5,00
Warehousing $8,00
Packaging $15,00
Promotion $30,00
Customer Shipping $15,00
10-13 Given the cost per king-size sheet set above, and assuming the manufacturer has total fixed costs of $500,000 and estimates first year sales will be 50,000 sets, determine the price to consumers if the company desires a 40 percent margin on sales.
10-14 If the company decides to sell through retailers instead of directly to consumers online, to maintain the consumer price you calculated in the previous question, at what price must it sell the product to a wholesaler who then sells it to retailers? Assume wholesalers desire a 10 percent margin and retailers get a 20 percent margin, both based on their respective selling prices.

Answers

Answer:

10-13 Given the cost per king-size sheet set above, and assuming the manufacturer has total fixed costs of $500,000 and estimates first year sales will be 50,000 sets, determine the price to consumers if the company desires a 40 percent margin on sales.

variable cost per unit = 28 + 12 + 10 + 3 + 16 + 14 + 5 + 8 + 15 + 30 + 15 = $156

average fixed cost per unit = $500,000 / 50,000 units = $10

total cost per unit = $166

desired profit margin = 40%, so total costs must be 60% of selling price

selling price = $166 / 60% = $276.67 ≈ $277 per unit

10-14 If the company decides to sell through retailers instead of directly to consumers online, to maintain the consumer price you calculated in the previous question, at what price must it sell the product to a wholesaler who then sells it to retailers? Assume wholesalers desire a 10 percent margin and retailers get a 20 percent margin, both based on their respective selling prices.

retailers' margin = $277 x 20% = $55.40

selling price to retailers = $277 - $55.40 = $221.60

wholesalers' margin = $221.60 x 10% = $22.16

selling price to wholesalers = $221.60 - $22.16 = $199.44 per unit

Which section of a CAR Residential Purchase Agreement is a provision divided into three sections: mediation, arbitration of disputes, and additional terms?

Answers

Answer: Appraisal contingency and Removal.

Explanation:

The appraisal contingency, is a kind of CAR residential purchase agreement, which allows a buyer to back out of the deal if the house appraises for less than the already agreed-upon value. and the loan contingency, this term lets the buyer back out if he/she can't get their loan approved for the said purposes.

The section of a car residential purchase agreement that separates it into three sections would be:

Section 9C

The section titled 9C functions to separate the property purchase provisions into three varied divisions. These divisions include mediation followed by arbitration of disputes, and the external terms that fulfill the remaining ones.The other options are present in order to fulfill if either of them fails to resolve the dispute.

Thus, "section 9C" is the correct answer.

Learn more about "Residential Agreement" here:

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Calloway Company recorded a right-of-use asset of $790,000 in a 10-year finance lease. The interest rate charged by the lessor was 10%. The balance in the right-of-use asset after two years will be:

Answers

Answer:

$632,000

Explanation:

The computation of the amount of balance in the right of use asset after two years is shown below:

Balance in right of use asset after 2 years is

= Recorded value - ((Recorded value × rate of interest) × number of years)

= $790,000 - (($790,000 × 10%) × 2)

= $790,000 - ($79,000 × 2)

= $790,000 - $158,000

= $632,000

hence, the balance is $632,000

Below are cash transactions for a company, which provides consulting services related to mining of precious metals.

a. Cash used for purchase of office supplies, $1,600.
b. Cash provided from consulting to customers, $42,600.
c. Cash used for purchase of mining equipment, $67,000.
d. Cash provided from long-term borrowing, $54,000.
e. Cash used for payment of employee salaries, $23,400.
f. Cash used for payment of office rent, $11,400.
g. Cash provided from sale of equipment purchased in c. above, $21,900.
h. Cash used to repay a portion of the long-term borrowing in d. above, $37,000.
i. Cash used to pay office utilities, $3,700.
j. Purchase of company vehicle, paying $9,400 cash.

Required:
Calculate cash flows from operating activities.

Answers

Answer:

                      Cash Flow Statement

         Cash Flow from Operating Activities

Cash received from customers                     $42,600

Cash payment to salaries                             -$23,400

Cash used for purchase of office supplies  -$1,600

Office rent paid                                              -$11,400

Payment for office utilities                             -$3,700

Net Cash Inflow from Operating activities  $2,500

Colter Company prepares monthly cash budgets. Relevant data from operating budgets for 2020 are as follows.

January February
Sales $428,400 $476,000
Direct materials purchases 142,800 148,750
Direct labor 107,100 119,000
Manufacturing overhead 83,300 89,250
Selling and administrative expenses 94,010 101,150

All sales are on account. Collections are expected to be 50% in the month of sale, 30% in the first month following the sale, and 20% in the second month following the sale. Sixty percent (60%) of direct materials purchases are paid in cash in the month of purchase, and the balance due is paid in the month following the purchase. All other items above are paid in the month incurred except for selling and administrative expenses that include $1,190 of depreciation per month.

Other data:
1. Credit sales: November 2019, $297,500; December 2019, $380,800.
2. Purchases of direct materials: December 2019, $119,000.
3. Other receipts: January—Collection of December 31, 2019, notes receivable $17,850; February—Proceeds from sale of securities $7,140.
4. Other disbursements: February—Payment of $7,140 cash dividend.

The company’s cash balance on January 1, 2020, is expected to be $71,400. The company wants to maintain a minimum cash balance of $59,500.

Required:
Prepare schedules for (1) expected collections from customers and (2) expected payments for direct materials purchases for January and February.

Answers

Answer:

I used an excel spreadsheet since there is not enough room here.  

                   

Managers must be able to determine whether their workers are doing an effective and efficient job, with a minimum of errors and disruptions. They do so by using a performance appraisal, an evaluation that measures employee performance against established standards in order to make decisions about promotions, compensation, training, or termination. Managing effectively means getting results through top performance. That's what performance appraisals at all levels of the organization are for—including at the top, where managers benefit from review by their subordinates. In the 360-degree review, management gathers opinions from all around the employee, including those under, above, and on the same level, to get an accurate, comprehensive idea of the worker's abilities.

a. True
b. False

Answers

Answer:

a. True

Explanation:

This system of performance review is a 360-degree review or feedback process where a given employee receives inputs on her performance (or other criteria such as behaviors, competencies and results achieved) from different employees with varying working relationships and at different levels.  The idea is to ensure that the employee's performance is not partial or biased.  Using this system, the employee who may be a manager will have her performance reviewed by employees below, above, and on the same level with her.

Zoe Corporation has the following information for the month of March: Purchases $92,000 Materials inventory, March 1 6,000 Materials inventory, March 31 8,000 Direct labor 25,000 Factory overhead 37,000 Work in process inventory, March 1 22,000 Work in process inventory, March 31 23,500 Finished goods inventory, March 1 21,000 Finished goods inventory, March 31 30,000 Sales 257,000 Selling and administrative expenses 79,000
Prepare a schedule of cost of goods manufactured. Enter all amounts as positive numbers. Zoe Corporation Statement of Cost of Goods Manufactured For the Month Ended March 31

Answers

Answer:

Explanation:

The preparation of the cost of goods manufactured is presented below:

Zoe Corporation

Statement of Cost of Goods Manufactured

For Month Ended March 31, 20XX

Work in process inventory March 1   $22,000

Direct materials :    

Materials inventory, March 1  $6,000  

Add: Purchases       $92,000  

Cost of materials for use $98,000  

Less - materials inventory, March 31 -$8,000  

cost of materials placed in production $90,000  

Add:

Direct labor  $25,000  

Factory overhead  $37.000  

Total manufacturing costs added  $152,000

Total manufacturing costs     $174,000

Less- work in process inventory, March 31  $23,500

Cost of goods manufactured   $150,500

what will you use for banca/boat to move​

Answers

Answer:

a paddle

Explanation:

Using a "paddle" is very important in order to move/propel a boat. Paddling creates a force which goes against the water. This force is faced by an opposite force that is equal and that which allows the boat to move forward.

So as you push the water asides, the boat accelerates. Such technique is deemed efficient when using the boat. Not following the proper technique will not move the boat.

it is a type of text which is usually non-fiction​

Answers

Answer:

Major types

Common literacy examples of non fiction include expository, argumentative, functional, and opinion pieces;

essays on art or literature biographies memoirs journalism historical scientific technical economic writing

You want a seat on the board of directors of Red Cow, Inc. The company has 260,000 shares of stock outstanding and the stock sells for $51 per share. There are currently 5 seats up for election. The company uses straight voting. How much will it cost you to guarantee that you will be elected to the board

Answers

Answer:

$2,210,051

Explanation:

The computation of the cost that would be guaranteed is shown below:

first find the number of shares controlled which is

= (S x N) ÷  (D + 1) ] + 1

Where,

S = the total number of shares

N  = the number of directors required

D  = total number of directors i.e. elected

So,

= (260,000 × 1) ÷ (5 + 1) + 1

= 43,334

Now the cost is

= 43,334 × $51

= $2,210,051

Question # 5

Multiple Select

Aside from distributing investments and savings, the primary tasks of the financial service system

are (Select all that apply.)

U providing avenues to borrow money

growing the country's economy

aiding in the creation of capital formation

U managing and mitigating the risks

© 2015 Glynlyon, Inc.

< PREVIOUS

NEXT >

D SAVE

C SUBMIT

v6.0.3-0038.20200504.mainline

© 2016 Glynlyon, Inc. All rights reserved.

Answers

Answer:

Growing the country's economy Aiding in the creation of capital formation Managing and mitigating the risks

Explanation:

The Financial system is very important because it helps grow the economy of the country. They do this by creating capital when they transfer funds from those who have it (savers) to those who need it (borrowers). These borrowers will then use it to invest in projects that will grow the economy.

The Financial system also works to manage and mitigate risk because they have experience in such areas and are able to discern which projects to go after to avoid or properly manage risk.

Use the information from the balance sheet and income statement below to calculate the following ratios:

a. Current Ratio
b. Acid-test ratio
c. Times interest earned
d. Inventory turnover
e. Total asset turnover
f. Operating profit margin
g. Days in receivables
h. Operating return on assets
i. Debt ratio
j. Fixed asset turnover
k. Return on equity

Balance Sheet ASSETS

Cash $100,000
Accounts receivable 30,000
Inventory 50,000
Prepaid expenses 10,000
Total current assets $190,000
Gross plant and equipment 401,000
Accumulated depreciation (66,000)
Total assets $525,000

LIABILITIES AND OWNERS' EQUITY

Accounts payable $90,000
Accrued liabilities 63,000
Total current liabilities $153,000
Long-term debt 120,000
Common stock 205,000
Retained earnings 47,000
Total liabilities and equity $525,000
Income Statement Sales* $210,000
Cost of goods sold (90,000)
Gross profit $120,000
Selling, general, and
administrative expenses (29,000)
Depreciation expenses (26,000)
Operating profits $65,000
Interest expense (8,000)
Earnings before taxes $57,000
Taxes (11,970)
Net income $45,030

Answers

Answer:

a. Current Ratio  = current assets / current liabilities = 190,000 / 153,000 = 1.24

b. Acid-test ratio  = (current assets - inventory) / current liabilities = (190,000 - 50,000) / 153,000 = 0.92

c. Times interest earned  = EBIT / interest expense = 65,000 / 8,000 = 8.13

d. Inventory turnover  = COGS / inventory = 90,000 / 50,000 = 1.8

e. Total asset turnover  = net sales / total assets = 210,000 / 525,000 = 0.4

f. Operating profit margin  = operating income / total sales = 65,000 / 210,000 = 0.31

g. Days in receivables  = (accounts receivables / total sales) x 365 = (30,000 / 210,000) x 365 =  52.14 days

h. Operating return on assets  = operating income / total assets = 65,000 / 525,000 = 0.12

i. Debt ratio  = total liabilities / total assets = 273,000 / 525,000 = 0.52

j. Fixed asset turnover  = total sales / fixed assets = 210,000 / 335,000 = 0.63

k. Return on equity = net income / total equity = 45,030 / 252,000 = 0.18

What are the 2 main sources of data

Answers

Answer:

internal and external source

Explanation:

Answer:

There are two sources of data. they are:

1. Internal Source.

2. External Source.

Explanation:

Internal Source. When data are collected from reports and records of the organision itself, it is known as the internal source.

External Source. When data are collected from outside the organition, it is known as the external source.

The following trial balance of Blues Traveler Corporation does not balance.

Blues Traveler Corporation Trial Balance April 30, 2020

Debit Credit
Cash $5,912
Accounts Receivable 5,240
Supplies 2,967
Equipment 6,100
Accounts Payable $7,044
Common Stock 8,000
Retained Earnings 2,000
Service Revenue 5,200
Office Expense 4,320 00000
$24,539 $22,244

An examination of the ledger shows these errors.

1. Cash received from a customer on account was recorded (both debit and credit) as $1,380 instead of $1,830.
2. The purchase on account of a computer costing $3,200 was recorded as a debit to Office Expense and a credit to Accounts Payable.
3. Services were performed on account for a client, $2,250, for which Accounts Receivable was debited $2,250 and Service Revenue was credited $225.
4. A payment of $95 for telephone charges was entered as a debit to Office Expense and a debit to Cash.
5. The Service Revenue account was totaled at $5,200 instead of $5,280.

Required:
From this information prepare a corrected trial balance.

Answers

Answer:

1. Cash received from a customer on account was recorded (both debit and credit) as $1,380 instead of $1,830.

Dr Cash 450

    Cr Accounts receivable 450

2. The purchase on account of a computer costing $3,200 was recorded as a debit to Office Expense and a credit to Accounts Payable.

Dr Equipment 3,200

    Cr Office expense 3,200

3. Services were performed on account for a client, $2,250, for which Accounts Receivable was debited $2,250 and Service Revenue was credited $225.

    Cr Service revenue 2,025

4. A payment of $95 for telephone charges was entered as a debit to Office Expense and a debit to Cash.

    Cr Cash 190

5. The Service Revenue account was totaled at $5,200 instead of $5,280.

    Cr Service revenue 80

adjusted trial balance

                                                   debit            credit

Cash                                          $6,172

Accounts Receivable               $4,790

Supplies                                   $2,967

Equipment                               $9,300

Accounts Payable                                           $7,044

Common Stock                                               $8,000

Retained Earnings                                          $2,000

Service Revenue                                            $7,305

Office Expense                         $1,120                            

                                              $24,349          $24,349

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