Katie, a single taxpayer, is a shareholder in Engineers One, a civil engineering company. This year, Katie’s share of net business income from Engineers One is $200,000 (net of the associated for AGI self-employment tax deduction). Assume that Katie’s allocation of wages paid by Engineers One to its employees is $300,000 and her allocation of Engineers One’s qualified property is $150,000 (unadjusted basis of equipment, all purchased within past three years). Assume Katie has no other business income and no capital gains or qualified dividends. Her taxable income before the deduction for qualified business income is $400,000.
Required:
A. Calculate Katie’s deduction for qualified business income.
B. Assume the same facts provided above, except Katie’s net business income from Engineers One is $400,000 (net of the associated for AGI self-employment tax deduction), and her taxable income before the deduction for qualified business income is $350,000.
Answers
Answer:
A) Katie's maximum deduction is $200,000 x 20% = $40,000
But we must check that her deduction meets 3 requirements:
cannot exceed 50% of her earned wages = $300,000 x 50% = $150,000 ✓ requirement metcannot exceed 25% of her earned wages + 2.5% of qualified property = ($300,000 x 25%) + ($150,000 x 2.5%) = $78,750 ✓ requirement metcannot exceed 20% of taxable income = $400,000 x 20% = $80,000 ✓ requirement metB) Katie's maximum deduction is $400,000 x 20% = $80,000, but since her net business income is higher than her taxable income, she must calculate 20% x $350,000 (taxable income) = $70,000 (same as requirement 3 in previous answer)
Related Questions
The _________________________ensures that all vendors who wish to supply are capable of providing quality goods or services, and have technical, commercial, and financial ability, adequate equipment and facilities, good service performance, or any other measures that will ensure quality and reliability in every purchase made.
a.Vendor Accreditation Program
b.Vendor Development
c. Supplier Development
d. Finish Product development
Answers
for individuals the economic term specialization refers to
Answers
In economics, the term "specialization" refers to the process by which individuals, firms, or countries focus their efforts on producing a limited range of goods or services.
It involves concentrating on a specific area of expertise or skill set rather than trying to produce everything that is needed. Specialization is driven by the concept of comparative advantage, which suggests that individuals or entities should allocate their resources to the activities they can perform most efficiently compared to others. By specializing, individuals can take advantage of their unique skills, knowledge, and resources to increase productivity and efficiency.
Specialization often leads to increased productivity because individuals can become more proficient and experienced in their specialized area. This efficiency gains from specialization can be attributed to factors such as the ability to develop specific expertise, use specialized tools or technology, and benefit from economies of scale.
Furthermore, specialization promotes trade and exchange between individuals, firms, or countries. By focusing on what they specialize in, individuals or entities can produce a surplus of goods or services, which they can then exchange with others who specialize in different areas. This exchange of specialized products or services allows for increased economic efficiency and a wider range of goods and services available to consumers.
Overall, specialization plays a vital role in economic development and growth by promoting efficiency, productivity, and trade. It allows individuals and entities to leverage their unique skills and resources, leading to economic specialization at both the individual and aggregate levels.
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Nate received a state tax refund of $590 from his 2020 return in 2021. Nate's filing status was single, and his itemized deductions
were $16,850 on the 2020 return, of which $2,800 was state income taxes. What amount of Nate's state refund will be taxable on the
2021 return?
Select one:
O a. $0
b. $250
c. None of these
d. $2,800
e. $590
Answers
None of these amounts of Nate's state refund will be taxable on the 2021 return. The correct option is C.
How do you calculate itemized deductions?You can deduct what you paid in real estate taxes, personal property taxes, state and local income or sales taxes, mortgage interest, and disaster losses when you itemize your deductions. You can also count charitable contributions and a portion of the money you spent on health and dental care.
Every year, your refund is determined by subtracting your annual federal income tax from the amount of federal income tax withheld.
Thus, the ideal selection is option C.
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the oriole mills company has just disclosed the following financial information in its annual report sales of 1.47 million, cost of goods sold of $817,100, depreciation expenses of $179,600, and interest expenses of $ 94,000. Assume that the firm has an average tax rate of 29 percent. Compute the cash flows to investors from operating activity.
Answers
The cash flows to investors from operating activities for Oriole Mills Company is $543,973.
To compute the cash flows to investors from operating activities, we need to start with the net income and make adjustments for non-cash expenses and changes in working capital. The formula to calculate cash flows from operating activities is as follows:
Cash Flows from Operating Activities = Net Income + Depreciation Expenses + Non-Cash Interest Expenses - Increase in Current Assets + Increase in Current Liabilities + Decrease in Current Assets - Decrease in Current Liabilities
Given the financial information provided, we can calculate the cash flows to investors from operating activities as follows:
Net Income:
Net Income = Sales - Cost of Goods Sold - Depreciation Expenses - Interest Expenses - Taxes
Net Income = $1,470,000 - $817,100 - $179,600 - $94,000 - ($1,470,000 - $817,100 - $179,600 - $94,000) * 0.29
Net Income = $1,470,000 - $817,100 - $179,600 - $94,000 - ($379,300 * 0.29)
Net Income = $1,470,000 - $817,100 - $179,600 - $94,000 - $109,927
Net Income = $269,373
Depreciation Expenses = $179,600
Non-Cash Interest Expenses = $94,000
Changes in Working Capital:
Increase in Current Assets = 0 (no information provided)
Increase in Current Liabilities = 0 (no information provided)
Decrease in Current Assets = 0 (no information provided)
Decrease in Current Liabilities = 0 (no information provided)
Finally, we can calculate the cash flows to investors from operating activities:
Cash Flows from Operating Activities = $269,373 + $179,600 + $94,000 + 0 + 0 + 0 + 0
Cash Flows from Operating Activities = $543,973
Therefore, the cash flows to investors from operating activities for the Oriole Mills Company is $543,973.
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You, a Captain, are a section chief in Military Personnel and 2d Lt Smith’s supervisor. Lt Smith is a Force Support Officer. She has been on active duty for a year and in her present job for 10 months. She supervises 21 enlisted personnel who perform a variety of administrative tasks in support of a tactical fighter wing. She majored in business administration in college, served 3 years as an administrative specialist, and was an E-4 before being accepted for OTS. As an enlisted member, she graduated from technical school as an honor graduate and was cited on numerous occasions for outstanding performance. Her supervisors considered her a valuable asset to the unit and an expert in her area of responsibility. She’s very enthusiastic about her work and plans to make the Air Force a career.
Lieutenant Smith took over her job 2 months after the unit had received a rating of “marginal” by the numbered Air Force Inspector General’s evaluation team. At the end of her first week on the job, Lt Smith called her NCOIC and key supervisors together and told them that she wouldn’t tolerate marginal performance, that she had previous experience in this type of work, and would be looking at the quality of their work very closely. Since that time, Lt Smith has attempted to supervise every phase of work in her office and, at times, has involved herself in even the most routine decisions. Lt Smith assigns people to certain jobs within the office, plans the work schedule, leave schedule, and does most of the counseling in the office.
In the last 6 months, Lt Smith has ordered several people to work overtime to complete routine work ahead of schedule. Each time this has happened, the NCOIC has asked the lieutenant for permission to speak to her immediate supervisor. On each occasion, the lieutenant has told the senior master sergeant he must not take these internal problems to you, because she’ll take care of any problems in her section--and the NCOIC should remember who writes his EPR.
Most of the time, when Lt Smith approaches the work or break area where the workers are congregated, she notices all conversation stops and the personnel won’t talk to her unless she addresses them first. After reviewing a report yesterday, Lt Smith became very impatient. She bypassed his NCOIC and took the report directly to the Airman who had typed it. While Lt Smith was berating the Airman about the typing errors, the NCOIC walked into the office and asked the Airman what the problem was. The lieutenant became flustered, told the NCOIC she was tired of doing his job for him, and shoved the report into his hands. Lt Smith then went into her office and slammed the door.
The NCOIC relayed this situation to you and asked for your help. How will you help? BACKGROUND
*ENVIRONMENT: Airforce Base
*PEOPLE INVOLVE: The Captain, Lt Smith, Airman and NCOIC.
PROBLEM DEFINATION
*Lt Smith Unprofessional Behavior
DIAGNOSIS
*Marginal Performance
*Previous Experience
*Enthusiastic With her Job
*Academic Credibility
Answers
The lieutenant Smith has taken leave, and everything is running smoothly. People are, however, more attentive when she is present. Decisions are being delayed, and morale was low. The and other important supervisors are worried which some people may decide to due to her supervision, leave the service style.
Several issues must be addressed as a result of this case study. Lieutenant Smith's micromanagement technique is causing morale issues and may lead to retention issues, which is one of the main concerns. It's also troubling that she's requesting people to work extra hours without proper authorization or regard for the impact on their personal lives.
As her boss, you ought to tackle these concerns with Lt Smith and advise her on proper supervisory techniques. You could advise her to delegate more responsibilities to her NCOIC and other key supervisors, and to concentrate in strategic planning and decision-making instead of micromanaging every detail. We should also emphasise the significance of adhering to proper procedures for authorising overtime and taking into account the impact on personnel.
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QUESTION 8 of 10: The function of a financial planner is:
Oa) To share in the profit/loss of your investments
b) To convince you to purchase large-cap stocks
c) To design your personal budget plan
Od) To help you define and reach your financial goals
Answers
The function of a financial planner is to help individuals or organizations define and reach their financial goals through a variety of services, including budget planning. So, correct option is D.
Unlike an investment advisor who is primarily focused on managing investments, a financial planner takes a more holistic approach to a client's financial well-being. They work closely with clients to understand their current financial situation, identify their goals and objectives, and develop a personalized financial plan to achieve those goals.
Financial planners do not share in the profit or loss of their clients' investments, nor do they aim to convince their clients to purchase specific stocks. Instead, they provide unbiased advice and recommendations based on their clients' individual needs and objectives.
Ultimately, the goal of a financial planner is to help clients achieve financial security and success by providing expert guidance, ongoing support, and customized solutions to meet their unique financial needs.
So, correct option is D.
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You are interested in investing your m0ney, but don't know much about
individual stocks or bonds. What kind of investment would be best for you?
A. Mutual fund
B. Shares of G0ogle or lBM
C. Treasury Bonds
D. Checking account
Answers
Answer: A. Mutual Fund
Explanation:
Mutual fund is the kind of investment would be best for a person. Thus, option A is correct.
What is the mutual fund?A mutual fund is a pool of money that is professionally managed by a Fund Manager. It is a trust that collects money from a group of investors with similar investment goals and invests it in stocks, bonds, money market instruments, and/or other securities.
A mutual fund is a type of investment vehicle that pools money from investors who share a common investment goal. Mutual funds make money primarily through sales charges that function similarly to commissions and by charging investors a percentage of assets under management (AUM).
Therefore, option A is correct, that a mutual fund is the best type of investment for a person.
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which option is best described as a complementary good for trucks?
A. truck blogs
B. Truck Fuel
C. Truck factories
D. Truck regulations
Answers
The option that is best described as a complementary good for trucks is A. truck blogs.
What is complementary good ?A good that adds value to another good or service is said to be complimentary. To put it another way, they are two items that the client uses in tandem with one another. For instance, cereal and milk or a DVD and a DVD player.
A complementary good in economics is one whose appeal rises along with the appeal of its counterpart. Technically speaking, it exhibits a negative cross elasticity of demand, meaning that when the price of one commodity lowers, demand for it also rises.
Therefore, option A is correct.
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Swifty Corporation produces 5000 units of part A12E. The following costs were incurred for that level of production: Direct materials $50000 Direct labor 155000 Variable overhead 70000 Fixed overhead 175000 O If Swifty buys the part from an outside supplier, $15000 of the fixed overhead is avoidable. If the outside supplier offers a unit price of $60, net income will increase (decrease) by $(25000) $(10000). $110000. $85000.
Answers
The outside supplier offers a unit price of $60, net income will increase (decrease) by $10,000
The computation of net income will increase (decrease) is given below:-
First we need to find out the relevant cost per unit which is shown below:-
Total relevant cost = Direct material + Direct labor + Variable overhead + Fixed overhead
= $50,000 + $155,000 + $70,000 + $15,000
= $290,000
Relevant cost per unit = Total relevant cost ÷ Number of units to be produced
= $290,000 ÷ 5,000
= $58
Price of supplier per unit = $60
Net increase in cost per unit = ($60 - $58) $2
Number of units to be produced = 5,000
Increase/ Decrease in net income = Number of units to be produced × Net increase in cost per unit
= 5,000 × $2
= $10,000
Therefore, the outside supplier offers a unit price of $60, net income will increase (decrease) by $10,000
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QUESTION 3: 3.1 Assume that the South African government have requested you to do a CBA with regard to the two projects. Conduct a research about the two pictures below and answer the questions that follow: PROJECT 1: COSTS AND BENEFIT ANALYSIS PROJECT 2 3.1.1 Identify the TWO projects needed by the South African citizens. 3.1.2 List any TWO private costs that will be incurred in project 2. (2 x 1) (2) (2 x 1) (2) 3.1.3 Why should the government apply the cost benefit analysis for big projects? (8) 3.1.4 Examine the external benefits of Project 1 illustrated above? [20] A Pr
Answers
For the two projects, the South African government has asked for a cost and benefit analysis (CBA), although no precise details or drawings of the projects have been provided.
However, it is clarified that carrying out CBA is important for large scale initiatives as it helps in determining their economic viability and social impact. Decision makers can choose wisely on the basis of net benefit derived from the initiative by weighing the costs and benefits.
The term "external benefit" refers to good outcomes on society as a whole, including social welfare, job growth, environmental sustainability, and infrastructure improvements. But without more details or visuals it's impossible to give specific feedback or evaluate the external benefits of Project 1. It is advised to refer to the actual images and related data to conduct a complete examination.
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The nation of Singapore has no natural resources to speak of, must import its water, and is very small in land mass. However, it has a very high real per capita gross domestic product (GDP) and a literacy rate of over 95%. How can such a small country with no resources be so prosperous
Answers
Answer:
Singapore is rich in other resources, like human capital.
Explanation:
Since in the question it is mentioned that Singapore who has no natural resource but import its water and small portion of the land mass at the same time it has very high GDP and the literacy rate over and above 95%
So in this case, it is rich in the other resources example human capital as it is possible for a small country to make an optimum use of it also it has the nice geographical location.
Therefore the second option is correct
2. Seller is defined as a party that makes, offers or contracts to make a sale to an actual or
potential buyer."
True of false?
Answers
Answer:
True
Explanation:
A seller is a person who agrees to exchange his goods or services with another party for money or other goods. A seller transfers ownership of the products to a buyer in exchange for money or other valuables. It is a person who sells, a salesperson, or a vendor of goods and services.
A seller requires a buyer to complete a sales transaction.
I need help on creating my resume. I’m a high schooler currently in the 11th grade. I haven’t won any awards here at my high school, but I have won awards in the past like in middle school and elementary school. Can I include some of them on to my resume? Please help!!
Awards that I have won are mvp (middle school) leadership (elementary)
Answers
To create an effective resume, you must explain your educational and professional experiences. If you are still a student looking for your first professional opportunity, a good way to attract the attention of recruiters is to include your awards won in the educational environment on your resume.
How to create a good resume?Some tips can be important for you to create an attractive resume. It's always good to align your experiences with the area you want to compete in, that is, include courses, extra curricular experiences and awards that have to do with the field of work that interests you. Other important tips are:
Keep your CV objective and conciseReview your personal dataHighlight your personal achievementsBe honest about the information providedInclude your volunteer workTherefore, for a student to create an effective curriculum, the inclusion of awards and achievements from student life will attract the attention of the recruiter by showing interest, dedication and perspectives of the candidate, being a great opportunity to win a job.
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which of the following are typical perceptions that readers have of a business message that includes exaggeration? (choose every correct answer.)
Answers
When a business message includes exaggeration, readers may have the following typical perceptions.
Skepticism: Exaggeration can make readers suspicious of the credibility of the message and the intentions of the sender.Distrust: Exaggeration can lead to distrust of the sender, especially if the message is found to be false or misleading.Confusion: Exaggeration can create confusion for the reader, making it difficult to differentiate between fact and fiction.Loss of credibility: Overuse of exaggeration can lead to a loss of credibility for the sender and the message.Resistance: Exaggeration can cause resistance from readers who feel that the message is not truthful or relevant to them.In conclusion, exaggeration in business messages should be used with caution, as it can lead to negative perceptions from the reader and harm the credibility of the message and the sender. It is important for business messages to be accurate, relevant, and truthful in order to effectively communicate with the target audience.
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NewTech purchases computer equipment for $255,000 to use in
operating activities for the next four years. It estimates the equipment's
salvage value at $20,000. What’s the year end hook value formula ?
Answers
The year-end book value formula for the computer equipment is given as
Year-End Book Value = Cost of Equipment - Accumulated Depreciation
At the end of the fourth year, the year-end book value will be 0
How to calculate Year-end book valueThe year-end book value formula for the computer equipment as
Year-End Book Value = Cost of Equipment - Accumulated Depreciation
To know the accumulated depreciation for each year, use the following formula:
Annual Depreciation = (Cost of Equipment - Salvage Value) / Useful Life
Where the useful life is the estimated number of years the equipment will be used in the business before it is sold or retired.
With 4 years of use, we can calculate the annual depreciation as follows:
Annual Depreciation = ($255,000 - $20,000) / 4
Annual Depreciation = $63,750
Therefore, the year-end book value formula for the computer equipment at the end of each year would be:
Year 1: $255,000 - $63,750 = $191,250
Year 2: $255,000 - ($63,750 x 2) = $127,500
Year 3: $255,000 - ($63,750 x 3) = $63,750
Year 4: $255,000 - ($63,750 x 4) = $0
At the end of the fourth year, the accumulated depreciation will equal the cost of the equipment minus its estimated salvage value, so the year-end book value will be zero.
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Consider the following BPMN diagram:
Answers
If we look at the process model, we can see that Task A is the first task and must always be completed in order for the model to be run. Further observation reveals that because an exclusive gateway is employed, any of the two jobs, B and C, is carried out individually rather than simultaneously. As we continue to move through the BPMN diagram, we see that task M is the conversing task and is therefore always run along with a networks message flow from it to task F, which is done as soon as a message is received in pool 2 and finishes.
An item of networking hardware or software called a gateway is used in telecommunications networks to allow data to go from one distinct network to another.
The way that gateway differ from routers and switches is that they can join various networks using more than one protocol to communicate and that they can function at any of the seven OSI levels.
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Jimmy export copra to Australia for A $5000 when exchange rate IS KI= A$0.50 What is the total revenue earn from the export?
Answers
The total revenue earned from export is 10,000KI.
To calculate the total revenue earned from the export, multiply the amount of copra exported by the exchange rate.
Given:
Amount of copra exported = A$5000
Exchange rate: 1 KI = A$0.50
Total revenue = Amount of copra exported * Exchange rate
Total revenue = A$5000 * KI/A$0.50
Simplifying the expression:
Total revenue = A$5000 / (A$0.50/KI)
To divide by a fraction, we can multiply by its reciprocal:
Total revenue = A$5000 * (KI/A$0.50)
Calculating the product:
Total revenue = 5,000 * 2KI
Total revenue = 10,000KI
Therefore, the total revenue earned from the export of copra to Australia is 10,000KI.
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The complete income acquired from trade is 10,000KI. To work out the absolute income acquired from the product, duplicate how much copra traded by the swapping scale.
Exchange includes the exchange of labor and products starting with one individual or substance then onto the next, frequently in return for cash. Financial experts allude to a framework or organization that permits exchange as a market.
An early type of exchange, trade, saw the immediate trade of labor and products for different merchandise and services,[1] for example exchanging things without the utilization of money.
Current income merchants by and large haggle through a mode of trade, like cash. Subsequently, purchasing can be isolated from selling, or acquiring. The innovation of cash (and letter of credit, paper cash, and non-actual cash) incredibly streamlined and advanced exchange.
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which situation best describes the role of businesse in the circular flow of goods
Answers
Answer:
A company makes a new line of kitchen appliances
Explanation:
Just did it
operations management course concept
Answers
The operations management course concept refers to the systematic design, direction, and control of the processes that transform inputs such as raw materials, energy, and labor into outputs such as goods and services that satisfy customer needs.
This management process includes inventory management, scheduling, supply chain management, quality control, and more. The goal of operations management is to create efficient processes that maximize productivity while minimizing costs.
Students taking an operations management course learn about these concepts and how to apply them to real-world situations in various industries. They also study topics like process design, project management, lean principles, and decision-making models.
The course is usually offered as a part of business administration, engineering, or industrial technology programs. Graduates of the course may go on to careers as operations managers, logistics managers, supply chain analysts, process improvement specialists, or manufacturing engineers, depending on their areas of focus and interests.
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i am in lutherwood someone help me get out
Answers
In the month of March the Chester Corporation received and delivered orders of 182,000 units at a price of $15.00 for revenue of $2.730mil for their product Cedar. Chester uses the accrual method of accounting and offers 30 day credit terms. By the end of May Chester had collected payments of $2.730mil for the March deliveries. How much of the collected $2.730mil should Chester show on the March 31st income statement and how much on the May 31st income statement?
Answers
When the funds are collect in may the accounts receivable is cleared to cash/Bank
Dr Bank and Cr accounts receivable
How ever since Chester Corp offers only 30 day credit terms the receivable is 30 days late they can Charge late payment fees and recognize the late fees as revenue in May i.e. the month the late fees is recognized
What is an advantage of using Excel’s built-in templates to create invoices?
a The setting and data heading are already made and the data just needs to be inserted.
b A built-in template cannot be modified in any way, so the file’s look will be consistent.
c Only one invoice template is available, so it will be easy to learn how to use a template.
d Templates take a lot of time to set up initially, but then they save time for future applications.
Answers
Answer:
A. The setting and data heading are already made and the data just needs to be inserted.
Explanation:
here's your answer..
Digby's turnover rate for this year is 6.29%. This rate is projected to remain the same next year and no further downsizing will occur from automating. Digby plans to spend an additional $500 beyond the extra amount above the $1000 recruiting base it spent this year. The goal of this additional investment is to improve the quality of applicants. What would the total recruiting cost be for Digby next year?
Answers
Answer:
$208,443
Explanation:
The computation of total recruiting cost be for Digby next year is shown below:-
\(R_1 = (B + R_o + A)\times N\)
as
B indicates baseline spend = $1,000
\(R_o\) indicates current year recruits spend = $5,000
A indicates additional next year spend = $500
N indicates the number of new employees for next year = Total employees × turnover rate
N = 510 × 0.0628787
= 32.0681538
now we will put the values into the above formula.
R1 = ($1,000 + 5000 + $500) × 32.0681538
= $208,443
The total recruiting cost for Digby next year will be $208443.
Based on the information given, the calculation for the total recruiting cost will be:
= (B + To + A) × N
where,
B = $1000
Ro = $5000
A = $500
N = 510 × 0.06288 = 32.068
Now, the total recruiting cost will be:
= (B + To + A) × N
= (1000 + 5000 + 500) × 32.068
= 6500 × 32.068
= 208433
Therefore, the total recruiting cost for Digby next year will be $208443.
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Libby bought 250 stocks of a company named Xylet last year. Xylet’s total earning for the year is $ 4million and it has 1,000,000 outstanding stocks. What is Xylet’s Earning per share (EPS)?
A.
4
B.
0.04
C.
40
D.
400
Answers
Answer:
4
Explanation:
In 2018, Southwestern Corporation completed the treasury stock transactions listed below.
February 2: Reacquired 67,000 shares at $11.70.
March 17: Sold 17,000 treasury shares at $13.85.
May 17: Sold 22,000 treasury shares at $7.85.
Southwestern had issued 100,000 shares of its $1 par common stock for $10 several months ago. Prepare the journal entries to record the above transactions.
Answers
Answer:
realy sorry but i don't know pardon mr for this
soooooooooooorrryyyyyy
Which of the following is not included in the typical pattern of behavior for a poverty-stricken person?
a.
higher crime rate
c.
higher standard of living
b.
higher divorce rate
d.
higher chance of being a victim of crime
Answers
Answer:
its c
Explanation:
got it right on edge
A person is poverty-stricken if they are considered to be very poor. A higher standard of living is not a typical pattern of behavior for a poverty-stricken person.
Who is poverty-stricken poverty?A poverty-stricken person suffers from the effects of extreme poverty: Some beggars are impoverished and homeless.
There are few jobs for farmers who have moved to cities from poverty-stricken areas in search of work.
It is characterized by excessive indulgence, low self-regulation, exploitation of others, and limited motivation and effort.
Therefore, Option B is the correct answer that is a higher standard of living is not a typical pattern of behavior for a poverty-stricken person.
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United Resources Company obtained a charter from the state in January of this year. The charter authorized 218,000 shares of common stock with a par value of $2. During the year, the company earned $494,000 Also during the year, the following selected transactions occurred in the order given:
a. Sold 83,000 shares of the common stock in an initial public offering for $13 per share.
b. Repurchased 23,000 shares of the previously issued shares for $16 per share.
c. Resold 3,000 shares of treasury stock for $19 per share.
Required:
Prepare the stockholders’ equity section of the balance sheet at December 31, 2014. (Amounts to be deducted should be indicated with a minus sign.)
Answers
Answer:
United Resources Company
Stockholders' Equity Section of the Balance Sheet at the end of the year:
Authorized share capital:
Common stock, $2 par, 218,000 shares
Issued and Outstanding shares:
Common stock, $2 par, 66,000 shares $172,000
Additional paid-in capital - common stock 642,000
Treasury stock, $2 par, 20,000 shares (40,000)
Retained earnings 494,000
Total equity $1,268,000
Explanation:
a) Data and Analysis:
Authorized share capital:
Common stock, $2 par, 218,000 shares
Net income for the year = $494,000
Transactions:
a. Cash $1,079,000 Common stock $166,000 Additional Paid-in Capital - Common $913,000
83,000 shares of the common stock in an initial public offering for $13 per share.
b. Treasury stock $46,000 Additional Paid-in Capital- Common stock $322,000 Cash $368,000
23,000 shares of the previously issued shares for $16 per share.
c. Cash $57,000 Common stock $6,000 Additional Paid-in Capital - Common stock $51,000
3,000 shares of treasury stock for $19 per share.
Fickel Company has two manufacturing departments—Assembly and Testing & Packaging. The predetermined overhead rates in Assembly and Testing & Packaging are $19.00 per direct labor-hour and $15.00 per direct labor-hour, respectively. The company’s direct labor wage rate is $21.00 per hour. The following information pertains to Job N-60: Assembly Testing & Packaging Direct materials $ 375 $ 39 Direct labor $ 168 $ 84 Required: 1. What is the total manufacturing cost assigned to Job N-60? (Do not round intermediate calculations.) 2. If Job N-60 consists of 10 units, what is the unit product cost for this job?
Answers
The total manufacturing cost assigned to Job N-60 is $ 696. If Job N-60 consists of 10 units, the unit product cost for this job is $111.00.
How to find the manufacturing costs ?Direct materials (Assembly + Testing & Packaging) = $375 + $39
= $414
Direct labor (Assembly + Testing & Packaging) = $168 + $84
= $252
Overhead applied (Assembly + Testing & Packaging) = $19 * 168 + $15 * 84 = $316 + $126
= $442
Total manufacturing cost = $414 + $252 + $442
= $1110
Unit product cost = Total manufacturing cost / Number of units
= $1110 / 10
= $111.00
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The Sunshine Solar Panel Company is planning a $150 million expansion that will generate cash
flows for 10 years. As an analyst in the company’s Finance Department, you are being tasked to
determine if this expansion is worth doing. To do that, you must go through the following steps. You can use that worksheet to complete tasks 1 through
12. You will need to input values in cells on the worksheet and calculate on your own the
following items in addition to those noted in Tasks 1 through 12:
Step 1: After calculating the company’s 2022 Return on Equity and retention ratio, find
its sustainable growth rate.
Step 2: Will the company need external funding for this expansion?
Step 3: Calculate the company’s current debt to equity ratio and use that to calculate how
much equity and how much debt will be needed to fund the expansion.
Step 4: Using 9.50% as the cost of debt, calculate how much interest on the debt you
found in Step 2 will be paid in each of the 10 years.
Step 5: Using the projected ‘income’ statements for years 1 through 10, calculate each
year’s EBIT using the equation for EBIT. Note: These are not complete income
statements.
Step 6: Add the interest expense calculated in Step 3 to the Interest line in the income
statement. Remember to put this amount as thousands not the actual amount (for
instance, if you calculated $2 million in Step 3, put $2,000 in as interest).
Step 7: Find the company’s 2022 tax rate and use that to determine taxes in the in the
income statement. That tax rate will be in effect for all 10 years.
Step 8: Now that the income statement is complete, determine each year’s operating cash
flow, using the correct equation for operating cash flow.
Step 9: Assuming that the project will need $10 million in working capital at the
beginning, prepare a cash flow from assets statement for the expansion.
(Remember that any net working capital added at the beginning of a project
comes back as a cash inflow at the end of a project.). Note: All values in the cash
flow from assets statement are in terms of thousands, not their actual amounts, so
if you use cell references for the investment and working capital, make sure what
you have in cells C19 and C21 are in thousands.
Step 10: Find the expansion’s internal rate of return using the =IRR function.
Step 11: Using the amount of equity and amount of debt you found in Step 3 and costs of
equity of 18% and pre-tax costs of debt of 9.50%, calculate pre-tax and after tax
weighted average costs of capital. For the tax rate, use the company’s current tax
rate you found in Step 7.
Step 12: Use the pre-tax and after tax weighted average costs of capital to find the
expansion’s net present value.
You can use the following information from Sunshine Solar Panel Company’s 2022 Balance
Sheet and Income Statement for Steps 1 through 3.
Total Assets: $600 million
Total Equity: $430.5 million
Total Debt: $169.5 million
Taxable Income: $102.55 million
Taxes Paid: $ 25.638 million
Dividends Paid: $ 46.148 million
Answers
To determine a company's SGR, the following equation is used:
SGR = (ROE x (1 - Dividend payout ratio))
The formula includes two variables:- ROE, which stands for "Return on Equity," calculated by dividing net income by shareholder's equity
- Dividend payout ratio, arrived at by dividing dividends paid out by net income
Multiplying ROE by (1 - Dividend payout ratio) yields the SGR. This figure represents the maximum achievable growth rate for the company while keeping its financial structure intact over an extended period.
In summary, SGR can be found with this simple calculation and provides a crucial metric in determining a firm's sustainable growth potential without needing to introduce external capital.
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Recently, "de-dollarization" has become a hot topic of global discussion. Recently, a Chinese think tank published an article saying that the trend of global de-dollarization has become very clear, and many countries in the world are working hard to reduce their dependence on the US dollar. The main driving force for this trend is my country's weaponization of its currency through excessive sanctions.
Answers
De-dollarization, or the reduction of dependence on the US dollar in global financial transactions, has indeed gained attention in recent years. While it is true that some countries are actively working to diversify their currency holdings and reduce reliance on the US dollar, it is essential to consider multiple factors that contribute to this trend.
One of the factors that have led to discussions about de-dollarization is the use of economic sanctions by the United States. Economic sanctions can be a powerful tool for a country to exert pressure on another nation, but they can also have unintended consequences. When the US imposes sanctions, it often restricts access to the US financial system, which is heavily reliant on the US dollar. This has prompted some countries to explore alternative methods of conducting international trade and finance to mitigate the impact of sanctions.
China, as a rising economic power, has been at the forefront of efforts to promote de-dollarization. It has taken steps to internationalize its currency, the yuan (also known as the renminbi), and has established currency swap agreements with various countries to facilitate trade settlements in yuan. Additionally, China has been promoting the use of its currency in international transactions through initiatives like the Belt and Road Initiative, which aims to enhance trade connectivity and financial integration among participating countries.
While weaponization of the US dollar through sanctions is indeed a contributing factor to the de-dollarization trend, it is not the sole driver. Other factors include concerns about the long-term stability of the US dollar, efforts by countries to reduce vulnerability to currency fluctuations, and geopolitical considerations. Some countries view de-dollarization as a way to enhance their economic and financial sovereignty, diversify risk, and reduce exposure to potential US policy changes.
It is important to note that the process of de-dollarization is gradual and complex. The US dollar still remains the dominant global reserve currency and the primary currency for international trade. The global financial system has deep-rooted structures and networks that make a rapid shift away from the US dollar challenging. However, as various countries seek to reduce their dependence on the US dollar, we can expect ongoing discussions and actions related to de-dollarization in the global economic landscape.
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