Master Business with Fun Quizzes & Brain Teasers!

Problem 11-7A Calculate operating activitiesdirect method (LO11-4, 11-5, 11-7) The income statement, balance sheets, and additional information for Video Phones, Inc. , are provided. VIDEO PHONES, INC. Income Statement For the Year Ended December 31, 2021 Net sales $ 2,886,000 Expenses: Cost of goods sold $ 1,800,000 Operating expenses 828,000 Depreciation expense 24,000 Loss on sale of land 7,700 Interest expense 13,500 Income tax expense 45,000 Total expenses 2,718,200 Net income $ 167,800 VIDEO PHONES, INC. Balance Sheets December 31 2021 2020 Assets Current assets: Cash $ 196,620 $ 119,460 Accounts receivable 77,700 57,000 Inventory 105,000 132,000 Prepaid rent 10,080 5,040 Long-term assets: Investments 102,000 0 Land 207,000 234,000 Equipment 264,000 207,000 Accumulated depreciation (65,400 ) (41,400 ) Total assets $ 897,000 $ 713,100 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 63,300 $ 78,000 Interest payable 5,700 9,400 Income tax payable 14,700 13,700 Long-term liabilities: Notes payable 279,000 222,000 Stockholders' equity: Common stock 270,000 270,000 Retained earnings 264,300 120,000 Total liabilities and stockholders equity $ 897,000 $ 713,100 Additional Information for 2021: Purchase investment in bonds for $102,000. Sell land costing $27,000 for only $19,300, resulting in a $7,700 loss on sale of land. Purchase $57,000 in equipment by issuing a $57,000 long-term note p
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Wire transferred $100,000 to the director of contracting of toyota international, a japanese corporation, for the purpose of obtaining a supply contract from toyota. if arp was charged with violating the foreign corrupt practices act, the court would most likely
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You work for a nuclear research laboratory that is contemplating leasing a diagnostic scanner (leasing is a common practice with expensive, high-tech equipment). The scanner costs $5,500,000 and would be depreciated straight-line to zero over five years. Because of radiation contamination, it will actually be completely valueless in five years. You can lease it for $1,320,000 per year for five years. Assume that the tax rate is 21 percent. You can borrow at 7 percent before taxes. Calculate the NAL. (Do not round intermediate calculations and round your answer to 2 decimal places, e. G. , 32. 16. )
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Suppose that the reserve requirement in an economy is 0. 35 and the Federal Reserve deposits $550 into commercial banks. What is the maximum possible change in the money supply? (Treat the entire amount of the deposit as the initial excess reserves. ) Round your answer to two decimal places
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You will be answering by filling in the blanks. please be aware that your answer must include any commas or decimals in their proper places in order to becorrect. the dollar signs have been provided. for example, if the answer is $1,860. 78, then you will enter into the blank 1,860. 78. do not place any extraspaces between numbers, commas, or decimal places. round any decimals to the nearest penny when the answer involves money, so that $986. 526 would betyped into the blank as 986. 53 and $5,698. 903 would be typed into the blank as 5,698. 90. using the information from question #14, if you only want to put 50% of your discretionary monies toward the emergency fund each month, how many monthswill it take to fully fund it, excluding interest accrual? (note: round up to the next whole month. )your answer goes here months
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On May 8, 2020, Holly purchased a residential apartment building. The cost basis assigned to the building is $194,600. Holly also owns another residential apartment building that she purchased on August 15, 2020, with a cost basis of $145,500. a. Calculate Holly's total depreciation deduction for the apartments for 2020 using MACRS. b. Calculate Holly's total depreciation deduction for the apartments for 2021 using MACRS
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Prepare a master budget for the months of january, february, and march that has the following budgets:1. sales budgets.2. merchandise purchases budgets.3. selling expense budgets.4. general and administrative expense budgets. hint: depreciation is included in the general and administrative budget for merchandisers.5. capital expenditures budgets.6. cash budgets.7. budgeted income statement for entire quarter (not monthly) ended march 31.8. budgeted balance sheet as of march 31.
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Ideally how does an organization apply the concept of preference to ensuring consistency of decision making across different units of the organization
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2 Part 1: Market Analysis Report [20 points] As a first step, we want to determine if the problem that we have proposed is indeed a relevant one to solve. To do this, we need to identify the market for the proposed problem. The market for us to investigate is: Japanese language learners interested in software solutions. Even if we find a wide market, we also need to know if it makes commercial sense to purse it (even if a software product is potentially very useful, it doesn't matter if no one will actually pay for it). It might be that the market is saturated with existing products, making little sense to develop a new one. This is a research report: you should use your research skills to learn more about the market for Japanese learning software. Note that we aren't expecting a super fancy report - we haven't actually taught you how to do formal market analysis, that will come later in your education - rather we want to start thinking about how we can create value for real customers using the technical skills we've been acquiring. Your report will be comprised of two sections that aim to answer the following: 1. What is the commercial market (if any) for software to aid Japanese learners
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The age discrimination in employment act specifically outlaws hiring practices that discriminate against people:_____.a. who are between 39-69. b. who are under the age of 18.c. who are 40 and over. d. who are between 16 and 20. e. who are younger than 18 and older than 39.
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In a market of the supply price is p=15-0.75q find equilibrium price and quantity, if the government impose a per unit tax of 4cedis. how much of a price rise will this tax mean to the consume, what will be the tax revenue raised
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Tailwind Inc. , produces high-quality but expensive training shoes for runners. The Tailwind show, which sells for $210, contains both gas- and liquid-filled compartments to provide more stability and better protection against knee, foot, and back injuries. Manufacturing the shoes requires 10 separate tasks. There are 400 minutes available for manufacturing the shoes in the plant each day. Daily demand is 60. The information for the tasks is as follows (with time in minutes): What is the system Cycle Time and the minimum number of workstations
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Which type of estimating uses project characteristics in a mathematical model to estimate project costs
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On December 31, 2017, Eppel, Inc. Borrowed $900,000 on an eight percent, 15-year mortgage note payable. The note is to be repaid in equal semiannual installments of $52,047 (payable on June 30 and December 31). Prepare journal entries to reflect (a) issuance of the mortgage note payable, (b) the payment of the first installment on June 30, 2018, and (c) the payment of the second installment on December 31, 2018. Round amounts to the nearest dollar
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A company usually achieves low cost leadership by offering a ________ product or service to a ________ target market using standardization to achieve economies of scale and experience.
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National Electric Company (NEC) is considering a $45. 08 million project in its power systems division. Tom Edison, the companys chief financial officer, has evaluated the project and determined that the projects unlevered cash flows will be $3. 18 million per year in perpetuity. Mr. Edison has devised two possibilities for raising the initial investment: Issuing 10-year bonds or issuing common stock. The companys pretax cost of debt is 7. 7 percent, and its cost of equity is 11. 6 percent. The companys target debt-to-value ratio is 80 percent. The project has the same risk as the companys existing businesses, and it will support the same amount of debt. The tax rate is 34 percent. 1. Calculate the weighted average cost of capital. (Do not round intermediate calculations and round your final answer to 2 decimal places. (e. G. , 32. 16))Weighted average cost of capital %2. Calculate the net present value of the project. (Enter your answer in dollars, not millions of dollars, i. E. 1,234,567. Do not round intermediate calculations and round your final answer to 2 decimal places. (e. G. , 32. 16))Net present value $ 3. Should NEC accept the project?a. Nob. Yes
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On michaela's first day at work, she was introduced to her coworkers, given a tour of the facilities, given information about company procedures and expectations, and was given the opportunity to ask questions. michaela experienced a(n) ________. group of answer choices on-the-job training program orientation program programmed learning program apprentice program job analysis
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Havermill Co. Establishes a $360 petty cash fund on September 1. On September 30, the fund is replenished. The accumulated receipts on that date represent $84 for Office Supplies, $159 for merchandise inventory, and $33 for miscellaneous expenses. The fund has a balance of $84. On October 1, the accountant determines that the fund should be increased by $72. The journal entry to record the establishment of the fund on September 1 is: Multiple Choice Debit Cash $360; credit Petty Cash $360. Debit Petty Cash $360; credit Accounts Payable $360. Debit Miscellaneous Expense $360; credit Cash $360. Debit Petty Cash $360; credit Cash $360. Debit Cash $360; credit Accounts Payable $360
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Christy has many roles in life. She is a college graduate, the youngest child inher family, and a high school teacher. To relax in the evenings, Christy likes towatch sunsets. In an economic sense, in which role is Christy functioning asa worker?
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Margarita, a single taxpayer, operates a sole proprietorship that reports $100,000 of qualified business income after deducting salaries of $300,000 in 2020. The sole proprietorship is not a specified service business. Assume her taxable income before the QBI deduction is $160,000. Margarita's QBI deduction for 2020 is:
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3 If interest rates are currently 3. 5%, and Shaili sold the bond today, would she expect to get more than, less than, or equal to $1000 for it?
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Bravo, Inc. , owns all of the stock of Echo, Inc. For 2021, Bravo reports income (exclusive of any investment income) of $480,000. Bravo has 80,000 shares of common stock outstanding. It also has 5,000 shares of preferred stock outstanding that pay a dividend of $15,000 per year. Echo reports net income of $290,000 for the period with 80,000 shares of common stock outstanding. Echo also has a liability from its 10,000, $100 bonds that pay annual interest of $8 per bond. Each of these bonds can be converted into two shares of common stock. Bravo owns none of these bonds. Assume a tax rate of 21 percent. What amount should Bravo report as diluted earnings per share
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Kathy receives her real estate license. Within a month of receiving her license, she gets a new job offer she cant refuse. She decides to continue to hold a license but not practice or do any real estate work or collect any referrals at this time. She is willing to renew her license, do her continuing education, and pay the same fee for her license. What should Kathy do?
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Suppose company A stock is last time traded at 43. 26$, and our analysis shows that in one year from now,its price would either increase or decrease by 35%. (i. E. D=0. 65, u=1. 35) Assume that risk-free rate is 1%and the company pays no dividend in this time period. 1) What would be the payoff for a European Put Option written on Company A equity, with time to maturityof 1 year, and strike price of 35$? Calculate the payoff for the up and down scenarios
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