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Your automatic payment option pays bills of $23.17, $55.67, $2,345.15, $575.25 and $1.15. How much was the mean payment?
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The independent cases are listed below includes all balance sheet accounts related to operating activities: Case A Case B Case C Net income $ 303,000 $ 11,500 $ 413,000 Depreciation expense 33,000 143,000 73,000 Accounts receivable increase (decrease) 86,000 (193,000) (13,000) Inventory increase (decrease) (43,000) 28,000 43,000 Accounts payable increase (decrease) (43,000) 113,000 63,000 Accrued liabilities increase (decrease) 53,000 (213,000) (33,000)Required:1. Show the operating activities section of cash flows for each of the given cases. (Amounts to be deducted should be indicated with minus sign.) Case A Case B Case C Net Income Adjustments to Reconcile Net income to Net Cash Provided by Operating Activities Depreciation Changes in Assets and Liabilities Accounts Receivable Inventory Accounts PayableAccrued Liabilities Net Cash Provided by Operating Activities
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The Laser world income Statement for 2021 is as follows: Sales revenue $198,000 Cost of sales 108,900 Gross profit 89,100 Operating expenses 69,000 Net income $20,100 Other Facts:Included in operating expenses: Depreciation Expense 7500 Vehicle expense 2800 Interest Expense 15600 Gain on Sale of Asset 5000 Pension Contribution 7500 Other: Dividends 13800 Cash Rec'd From Sale of Assets 35000 Basis of Assets Sold 30000Required:1. Jornalize the above transactions.
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In its 2015 fiscal year annual report, Texas Roadhouse reports net operating income after tax (NOPAT) of $102,495 thousand. As of the beginning of fiscal year 2015 it reports net operating assets of $596,104 thousand. a. Did Texas Roadhouse earn positive residual operating income (ROPI) in 2015 if its weighted average cost of capital (WACC) is 7%. Explain1. TXRH earned a negative ROPI because the realized NOPAT exceeds the expected NOPAT. 2. TXRH earned a positive ROPI because the realized NOPAT was less than the expected NOPAT. 3. TXRH earned a positive ROPI because the realized NOPAT exceeds the expected NOPAT.V 4. TXRH earned a negative ROPI because the realized NOPAT was less than the expected NOPAT.b. At what level of WACC would Texas Roadhouse not report positive residual operating income for 2015?
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Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson issued $800,000 of 10-year, 6% bonds on May 1 of the current year at face value, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year. May 1. Issued the bonds for cash at their face amount. Nov. 1. Paid the interest on the bonds. Dec. 31. Recorded accrued interest for two months. Journalize the entries to record the above selected transactions for the current year. If an amount box does not require an entry, leave it blank. May 1 Nov. 1 Dec. 31
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At the beginning of the month, the Forming Department of Martin Manufacturing had 14,000 units in inventory, 40% complete as to materials, and 20% complete as to conversion. During the month the department started 64,000 units and transferred 68,000 units to the next manufacturing department. At the end of the month, the department had 10,000 units in inventory, 85% complete as to materials, and 60% complete as to conversion. If Martin Manufacturing uses the weighted-average method of process costing, compute the equivalent units for materials and conversion respectively for the Forming Department.
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The management of Shatner Manufacturing Company is trying to decide whether to continue manufacturing a part or to buy it from an outside supplier. The part, called CISCO, is a component of the companys finished product. The following information was collected from the accounting records and production data for the year ending December 31, 2020. 1. 7,900 units of CISCO were produced in the Machining Department. 2. Variable manufacturing costs applicable to the production of each CISCO unit were: direct materials $4.58, direct labor $4.51, indirect labor $0.45, utilities $0.41. 3. Fixed manufacturing costs applicable to the production of CISCO were: Cost Item Direct Allocated Depreciation $1,900 $860 Property taxes 530 320 Insurance 870 610 $3,300 $1,790All variable manufacturing and direct fixed costs will be eliminated if CISCO is purchased. Allocated costs will have to be absorbed by other production departments.4. The lowest quotation for 7,900 CISCO units from a supplier is $63,200.5. If CISCO units are purchased, freight and inspection costs would be $0.60 per unit, and receiving costs totaling $1,270 per year would be incurred by the Machining Department.Required:a) Prepare an incremental analysis for CISCO.
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On April 1, 2021, Shoemaker Corporation realizes that one of its main suppliers is having difficulty meeting delivery schedules, which is hurting Shoemaker's business. The supplier explains that it has a temporary lack of funds that is slowing its production cycle. Shoemaker agrees to lend $490,000 to its supplier using a 12-month, 10% note.Required:The loan of $490,000 and acceptance of the note receivable on April 1, 2021.The adjustment for accrued interest on December 31, 2021.Cash collection of the note and interest on April 1, 2022.Record the above transactions for Shoemaker Corporation. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)Record the loan of $490,000 and acceptance of the note receivable on April 1, 2021.Note: Enter debits before credits.Date General Journal Debit CreditApril 01, 2021 Record the adjusting entry for accrued interest.Note: Enter debits before credits.Date General Journal Debit CreditDecember 31, 2021 Record the cash collection.Note: Enter debits before credits.Date General Journal Debit CreditApril 01, 2022
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The following are Silver Corporation's unit costs of making and selling an item at a volume of 8,000 units per month (which represents the company's capacity): Manufacturing: Direct materials $4 Direct labor $5 Variable overhead $2 Fixed overhead $8 Selling and administrative: Variable $1 Fixed $6 Present sales amount to 7,000 units per month. An order has been received from a customer in a foreign market for 1,000 units. The order would not affect regular sales. Total fixed costs, both manufacturing and selling and administrative, would not be affected by this order. The variable selling and administrative costs would have to be incurred for this special order as well as all other sales. Assume that direct labor is a variable cost. Assume the company has 50 units left over from last year which have small defects and which will have to be sold at a reduced price for scrap. The sale of these defective units will have no effect on the company's other sales. Which of the following costs is relevant in this decision?a. $19 unit product costb. $11 variable manufacturing costc. $26 full costd. $1 variable selling and administrative cost
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The office product division in Hyacinth Company reported $11,250 net operating income with $75,000 average operating assets this year. The office product division has a new investment opportunity that would increase net operating income by $4,375 with $35,000 additional investment. 1. Which of the following statements is TRUE given that the company's minimum required rate of return is 10%? Multiple Choice: O Regardless of whether the division is evaluated on the basis of ROI or Residual income, the manager will not accept the new investment because it is bad for the company. O If the division is evaluated on the basis of Residual income, the manager of the office product division would not accept the new investment because it is bad for the company. O If the division is evaluated on the basis of Residual income, the manager of the office product division would accept the new investment because it is good for the division. O If the division is evaluated on the basis of ROI, the manager of the office product division would accept the new investment because it is good for the division. O If the division is evaluated on the basis of ROI, the manager of the office product division would not accept the new investment because it is bad for the company.
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Assume that on September 1, Office Depot had an inventory that included a variety of calculators. The company uses a perpetual inventory system. During September, these transactions occurred:Sept. 6 Purchased calculators from Crane Co. at a total cost of $1,610, terms n/30. 9 Paid freight of $40 on calculators purchased from Crane Co. 10 Returned calculators to Crane Co. for $52 credit because they did not meet specifications. 12 Sold calculators costing $580 for $760 to Fryer Book Store, terms n/30. 14 Granted credit of $45 to Fryer Book Store for the return of one calculator that was not ordered. The calculator cost $32. 20 Sold calculators costing $650 for $800 to Heasley Card Shop, terms n/30.Instructions: Journalize the September transactions.
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As a project manager, what advantages could you have with the hospital COO being the project sponsor?
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An on-demand printing company has monthly overhead costs of $1,900 in rent, $450 in electricity, $80 for phone service, and $230 for advertising and marketing. The printing cost is $40 per thousand pages for paper and ink. The average cost for printing x thousand pages can be represented by the function C(x) = (2,660+40x) / x. For a given month, if the printing company could print an unlimited number of pages, what value would the average cost per thousand pages approach? What does this mean in the context of the problem? Select one: a. The average cost would approach $0 per thousand pages. The more pages the company prints, the lower the average cost. b. The average cost would approach infinity. The more pages the company prints, the higher the average cost. c. The average cost would approach $40 per thousand pages or equivalently $0.04 per page. This is the cost per page in the absence of fixed costs. d. The average cost would approach $2.660 per thousand pages. This is the total of the fixed monthly costs.
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Tullius Corporation has received a request for a special order of 8,000 units of product C64 for $50.00 each. The normal selling price of this product is $53.25 each, but the units would need to be modified slightly for the customer. The normal unit product cost of product C64 is computed as follows:Direct materials $18.10Direct labor 7.40Variable manufacturing overhead 5.20Fixed manufacturing overhead 4.80Unit product cost $35.50Direct labor is a variable cost. The special order would have no effect on the company's total fixed manufacturing overhead costs. The customer would like some modifications made to product C64 that would increase the variable costs by $5.00 per unit and that would require a one-time investment of $43,000 in special molds that would have no salvage value. This special order would have no effect on the company's other sales. The company has ample spare capacity for producing the special order.Required:How much is the 'effect' (incremental net operating income) on the company's total net operating income through accepting the special order?
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Johnson Corporation unadjusted trial balance at year-end include the following accounts. Compute the uncollectible account expense, and make the appropriate journal entry, for the current year assuming the uncollectible account expense is determined as follows: A. Without considering the balance in the Allowance for Doubtful Accounts, income statement approach, 1% of total sales. B. Without considering the balance in the Allowance for Doubtful Accounts, income statement approach, 1.5% of credit sales. C. Considering the balance in the Allowance for Doubtful Accounts, balance sheet approach. The estimate based on an aging of accounts receivable is that an allowance of $12,000 would be appropriate.
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This week's assignment is to pretend that the career services office at your university wants to develop a system that collects student resumes and makes them available to students and recruiters over the Web. Students should be able to input their rsum information into a standard resume template. The information then is presented in a rsum format, and it also is placed in a database that can be queried through an online search form. You have been placed in charge of the project.a. Create the work breakdown structure (WBS) listing the tasks that will need to be completed to meet the project's objectives.
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Suppose the marginal damage and marginal benefit curves in a pol- luted neighborhood are MD = P/3 and MB = 4 P. Also, suppose that transactions costs are low, so that the neighborhood residents and the firm can bargain. We saw that in this case, the socially optimal level of pollution is achieved. Start by computing the socially optimal P. Then, for each of the following cases, compute the amount of money trans- ferred through the bargaining process, and indicate who pays whom (i.e., whether consumers pay the firm, or vice versa). Also, compute the gains to each party relative to the status quo (i.e., the starting point of the bargaining process). (a) Residents have the right to clean air; firm is dominant in the bar- gaining process. (b) Residents have the right to clean air; residents are dominant in the bargaining process. (c) Firm has the right to pollute; firm is dominant in the bargaining process. (d) Firm has the right to pollute;residents are dominant in the bargain- ing process.
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Recording Journal Entries Nathanson Corporation was organized on May 1. The following events occurred during the first month. A. Received $68,000 cash from the five investors who organized Nathanson Corporation. Each investor received 101 shares of $10 par value common stock. B. Ordered store fixtures costing $12,000. C. Borrowed $20,000 cash and signed a note due in two years. D. Purchased $17,000 of equipment, paying $1,900 in cash and signing a six-month note for the balance. E. Lent $1,400 to an employee who signed a note to repay the loan in three months. F. Received and paid for the store fixtures ordered in (b).Prepare journal entries for each transaction.
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Thrifty Co. reported net income of $573,650 for its fiscal year ended January 31, 2020. At the beginning of that fiscal year, 100,000 shares of common stock were outstanding. On October 31, 2019, an additional 30,000 shares were issued. No other changes in common shares outstanding occurred during the year. Also during the year, the company paid the annual dividend on the 40,000 shares of 6%, $50 par value preferred stock that were outstanding the entire year.Required:a. Calculate basic earnings per share of common stock for year ended January 31, 2020. b. If Thrifty Co.s preferred stock were convertible into common stock, what additional calculation would be required?
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The following information relates to the manufacturing operations of the Abbra Publishing Company for the year: Beginning Ending Raw materials inventory $563,000 $626,000 The raw materials used in manufacturing during the year totaled $1,098,000. Raw materials purchased during the year amount to:a. $955,000.b. $892,000.c. $1,565,000.d. $408,000.e. $1,081,000.
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Pacific Bank provides loans to businesses in the community through its Commercial Lending Department. Small loans (less than $100,000) may be approved by an individual loan officer, while larger loans (greater than $100,000) must be approved by a board of loan officers. Once a loan is approved, the funds are made available to the loan applicant under agreed-upon terms. Pacific Bank has instituted a policy whereby its president has the individual authority to approve loans up to $5,000,000. The president believes that this policy will allow flexibility to approve loans to valued clients much quicker than under the previous policy. As an intern auditor of Pacific Bank, how would you reposnd to this change in policy?
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The following information applies to the questions displayed below. The December 31, 2021, unadjusted trial balance for Demon Deacons Corporation is presented below. Debit $ 8,400 13,400 5,280 2,400 Accounts Credit Cash Accounts Receivable Prepaid Rent Supplies Deferred Revenue Common Stock Retained Earnings Service Revenue Salaries Expense 1,400 11,000 4,400 39, 680 27,000 $56,480 $56,480 At year-end, the following additional information is available 1. The balance of Prepaid Rent, $5,280, represents payment on October 31, 2021, for rent from November 1, 2021, 2. The balance of Deferred Revenue, $1,400, represents payment in advance from a customer. By the end of the . 3. An additional $700 in salaries is owed to employees at the end of the year but will not be paid until January 4 4. The balance of Supplies, $2,400, represents the amount of office supplies on hand at the beginning of the year to April 30, 2022 year, $350 of the services have been provided. 2022 of $900 plus an additional $1,500 purchased throughout 2021. By the end of 2021, only $640 of supplies remains.
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Thunder Bolt Inc., is a manufacturer of the very popular G36 motorcycles. The management at Thunder Bolt has recently adopted absorption costing and is debating which denominator-level concept to use. The G36 motorcycles sell for an average price of $8,200. Budgeted fixed manufacturing overhead costs for 2012 are estimated at $6,480,000. Thunder Bolt Inc., uses subassembly operators that provide component parts. The following are the denominator-level options that management has been considering:a. Theoretical capacity--based on three shifts, completion of five motorcycles per shift, and a 360-day year--3 x 5 x 360 = 5,400.b. Practical capacity--theoretical capacity adjusted for unavoidable interruptions, breakdowns, and so forth--3 x 4 x 320 = 3,840.c. Normal capacity utilization--estimated at 3,240 units.d. Master-budget capacity utilization--the strengthening stock market and the growing popularity of motorcycles have prompted the marketing department to issue an estimate for 2012 of 3,600 units.Required:1. Calculate the budgeted fixed manufacturing overhead cost rates under the four denominator-level concepts.2. What are the benefits to Thunder Bolt, Inc., of using either theoretical capacity or practical capacity?3. Under a cost-based pricing system, what are the negative aspects of a master-budget denominator level? What are the positive aspects?
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The financial statements for Dividendosaurus, Inc., for the current year are as follows: Balance Sheet Statement of Income and Retained Earnings Cash $100,Sales $3,000 Accounts receivable 200,Cost of goods sold (1,600),Inventory 50,Net fixed assets 600,Gross profit $1,400,Operations expenses (970),Total $950,Operating income $430 Accounts payable $140, Interest expense (30) ,Long-term debt 300,Income before tax $400,Capital stock 260 ,Income tax (200), Retained earnings 250 ,Net income $200 ,Total $950 Add: Jan.1 retained earnings 150 Less: dividends (100) Dec.31 retained earnings $250,Dividendosaurus has a dividend-payout ratio of:_______. A. 19.6% B. 28.6%C. 40.0% D. 50.0%
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