Allowance for Doubtful Accounts has a debit balance of $900 at the end of the year (before adjustment), and bad debt expense is estimated at 1% of credit sales. If credit sales are $950,000, the amount of the adjusting entry to record the estimate of the uncollectible accounts
a. is $10,400
b. is $9,500
c. is $900
d. is $8,600
Answers
Answer:
a. is $10,400
Explanation:
The adjusting entry is as follows:
bad debt expense Dr ($950,000 × 1% + $900) $10,400
To Allowance for doubtful debts $10,400
(Being bad debt expense is recorded)
here the bad debt expense is debited as it increased the assets and credited the allowance for doubtful debt is credited as it decreased the assets
Therefore the correct option is a.
Related Questions
A teacher buys 4.25 ounces of a compound for an experiment. The compound costs $5.76 per ounce. The teacher pays with a $50 bill. How much change does the teacher receive?
Answers
Answer:
hi!!!
$21.88 is the answer!!!
hope it helps!!!
The demand for a product is unit elastic. At a price of $20, 10 units of a product are sold. If the price is increased to $40, then one would expect sales to equal:
Answers
It should be noted that when demand for a product is unit elastic and one would expect sales to equal: 5 units.
What is elastic demand?An elastic demand can be regarded as the demand whereby change in quantity demanded due to a change in price is large.
An inelastic demand entails change in quantity demanded due to a change in price is small.
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teamwork definition and example
Answers
Defenition - Team work is to work toghether in a team, and acomplish a goal with s teammate/teammates.
Example - Hey Makayla, you and Aiden did great teamwork for the project !!
If I paid 550 dollars every month how much did i pay in the past 7 years?
Answers
Hello!
1 month => 550
1 year = 12months => 550 x 12 =6600
7 year = 6600 x 7 = 46200
The answer is 46200
By comparing prices at different stores, consumers will:
Answers
By comparing prices at different stores, consumers will save money and make informed purchasing decisions.
How can comparing prices at different stores benefit consumers?Comparing prices at different stores allows consumers to make informed purchasing decisions and save money. By taking the time to research and compare prices, consumers can identify the best deals and discounts available for the products they intend to buy.
This practice helps them ensure that they are getting the most value for their money. It can also help consumers uncover any price discrepancies or inflated prices allowing them to avoid overpaying for goods and services.
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At the end of 2016, Sheridan Company has accounts receivable of $665,400 and an allowance for doubtful accounts of $23,480. On January 24, 2017, it is learned that the company’s receivable from Madonna Inc. is not collectible and therefore management authorizes a write-off of $4,415.
(a) Prepare the journal entry to record the write-off. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
(b) What is the cash realizable value of the accounts receivable before the write-off and after the write-off?
Answers
a) Journal entry of write off :
Date account titles and explanation debit credit
Allowance for doubtful accounts 4415
Account receivable 4415
(To record amount write off)
b) Calculate cash realizable value :
Before write off After write off
Account receivable 665400 (665400-4415)=660985
Less: Allowance for doubtful accounts (23480) (23480-4415) = (19065)
Cash realizable value 641920 641920
What is Cash realizable value?
The amount of cash left over after deducting the uncollectible amount from an account receivable is known as the cash realisable value. The balance of accounts receivable and the allowance for doubtful accounts on a company's balance sheet are combined to yield this net amount.
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Economic demand is?
A. the amount of a good or service that consumers are willing and able to buy at one price.
B. the amount of a good or service that consumers are willing and able to buy at various prices.
C.the amount of a good or service that producers are willing and able to produce at various prices.
D. the amount of a good or service that consumers are willing but not able to buy at various prices.
Which of the following is correct?
Answers
The correct answer is B. Economic demand is the amount of a good or service that consumers are willing and able to buy at various prices.
It reflects the relationship between the price of a product and the quantity that consumers are willing to purchase at that price. Demand is influenced by factors such as price, consumer preferences, income levels, and availability of substitutes.
As the price of a product decreases, the quantity demanded generally increases, and vice versa, following the law of demand. The demand curve represents this relationship, showing the quantity of a good or service that consumers are willing and able to buy at different price points.
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Based on the following information, calculate net income for Dana's Dress Shop using the traditional format.Sales $360,000Gross Margin $140,000Contribution Margin $110,000Total Selling & Administrative Exp. $60,000a) $160,000b) $190,000c) $80,000d) $50,000
Answers
According to the provided statement, Dana's Dress Shop's typical net income is $80,000.
What is an example of an income?For many people, an illustration of income would just be their wage from a job. Any money that a person or corporation receives in exchange for labor, the creation of goods and services, or the investment of capital can be considered income.
using the traditional formula to get Dana's Fashion Shop's net income
USING TRADITIONAL FORMAT, NET INCOME
Using this equation
Gross Margin - Total Sale & Administrative Cost = NET INCOME
When the gross margin is $140,000.
$60k in selling and administrative costs.
Let's enter the formula.
Net income is $140,00-$60,000.
$80,000 in net income
As a result, the NET INCOME is $80,000.
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Which of the following animals would be difficult for most large animal veterinarians to treat?
A. pig
B. goat
C. horse
D. zebra
Answers
Explanation- Pigs are strong and very stubborn. They also squirm around a lot and don’t usually sit still.
Answer:
d. zebra
Explanation:
edge 2021
The liabilities of Houle Corporation are $170,000. Houle's share capital is $100,000 and its retained earnings are $90,000. What
is the amount of Houle's total assets?
Total assets
$
Answers
The amount of Houle Corporation's total assets is $360,000.
To determine the amount of Houle Corporation's total assets, we need to understand the equation of the balance sheet, which states that the total assets of a company are equal to the sum of its liabilities and shareholders' equity.
Given:
Liabilities = $170,000
Share capital = $100,000
Retained earnings = $90,000
To find the total assets, we add the liabilities and shareholders' equity:
Total assets = Liabilities + Shareholders' equity
Shareholders' equity is the sum of share capital and retained earnings:
Shareholders' equity = Share capital + Retained earnings
Substituting the values:
Shareholders' equity = $100,000 + $90,000 = $190,000
Now, we can calculate the total assets:
Total assets = Liabilities + Shareholders' equity
Total assets = $170,000 + $190,000
Total assets = $360,000
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What management function is to ensure that all factors of production are available to departments
Answers
a 2% increase in customer retention has the same net effect on a business as decreasing costs by 10%
Answers
Customer retention can increase company revenue by 25-95% with a 5% increase. Customers who are returning buy more frequently and spend more money than new customers. They recognize the worth of a product or service and return time and time again.
What is the customer retention percentage?The percentage of existing clients who remain customers after a certain period is referred to as the customer retention rate. Your customer retention rate can help in understanding what keeps customers coming back to your company and can also indicate opportunities to improve customer service.
Acquiring new customers can cost up to five times as much as satisfying and retaining existing customers. A 2% increase in customer accumulation has the same effect as a 10% reduction in costs. Increasing customer retention by 5% boosts profits by 25 to 95%.
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What dose it mean to be fully human were interacting with others any virtual space like classroom why or why not
Answers
While interacting with others in a virtual space, to be fully human means for instance such as in a classroom, means having the qualities and characteristics inclusive to humanity, even though the medium of communication being virtual.
It involves identifying and embracing our shared humanity and engaging in meaningful connections with other people like friends family colleagues, even though miles apart and can only see by virtual screens.
Emotional connections, sharing knowledge, expression ,communication collaboration cooperation are the various forms. Therefore, virtual experiences though lack sensory and physical aspects of face-to-face interactions, they still provide a platform for human connection, learning, and growth.
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Decker Company has five products in its inventory. Information about the December 31, 2021, inventory follows. Product Quantity Unit Cost Unit Selling Price A 1,000 $ 25 $ 32 B 1,200 31 36 C 1,000 2 6 D 600 5 4 E 1,000 35 32 The cost to sell for each product consists of a 10 percent sales commission. Required: 1. Determine the carrying value of inventory at December 31, 2021, assuming the lower of cost or net realizable value (LCNRV) rule is applied to individual products. 2. Determine the carrying value of inventory at December 31, 2021, assuming the LCNRV rule is applied to the entire inventory. 3. Assuming inventory write-downs are common for Decker, record any necessary year-end adjusting entry based on the amount calculated in requirement 2.
Answers
Answer:
Decker Company
1. The carrying value of inventory with LCNRV applied to individual products = $95,384
2. The carrying value of inventory with LCNRV applied to the entire inventory = $102,200
3. There is no write-down since the total cost is chosen as the LCNRV in requirement 2.
Explanation:
a) Data and Calculations:
December 31, 2021 Inventory:
Product Quantity Unit Cost Unit Selling
Price
A 1,000 $ 25 $ 32
B 1,200 31 36
C 1,000 2 6
D 600 5 4
E 1,000 35 32
Product Quantity Unit Cost Unit Selling Net Realizable LCNRV Total
Price Value
A 1,000 $ 25 $ 32 $29 $25 $25,000
B 1,200 31 36 33 31 37,200
C 1,000 2 6 5.45 2 2,000
D 600 5 4 3.64 3.64 2,184
E 1,000 35 32 29 29 29,000
Carrying value of inventory $95,384
Total cost = (1,000 * $25) + (1,200 * $31) + (1,000 * $2) + (600 * $5) + (1,000 * $35)
= ($25,000) + ($37,200) + ($2,000) + ($3,000) + ($35,000)
= $102,200
Total selling price = (1,000 * $32) + (1,200 * $36) + (1,000 * $6) + (600 * $4) + (1,000 * $32)
= ($32,000) + ($43,200) + ($6,000) + ($2,400) + ($32,000)
= $115,600
= $105,091 ($115,600/1.1)
LCNRV = $102,200
1. The carrying value of inventory on December 31, 2021, is $95,384 for individual products.
2. The carrying value of inventory on December 31, 2021, is $102,200 for the entire inventory.
3. There would be no recording entry.
The carrying value of inventory would be computed as follows in the given table.
Hence, the total carrying value of inventory for the individual product from the table would be:
\(25000+37200+2000+2184+29000\\=95,384\)
Now, computation of carrying value of inventory for the entire inventory would be:
\((1,000 * 25) + (1,200 * 31) + (1,000 * 2) + (600 * 5) + (1,000 * 35)\\=102,200\)
Hence, the lower of cost and net realizable value or LCNRV is $102,200 for the entire product and $95,384 for individual inventory.
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PLEASE BRAINLIEST AND 100 POINTS PLEASE HURRY
Trade School vs. College - How to Decide?
The choice to go to college or choose a trade school is a huge decision you may need to make in the near future. There are a lot of factors to consider when making this choice, so it is a good idea to start reading about the advantages and disadvantages of college and trade schools. Each path can lead to success depending on what you want to do with your life.
After reading the article, make your own list of pros and cons for both trade school and college. Highlight the most important details that will help you make your decision.
Next, develop a basic career and education plan. Your plan should briefly outline the following:
Any long and short-term goals for your education and career future
What high school and college programs might help you reach your goals
This plan can be created in any word processing program.
Once you have completed your list of pros and cons and developed your career and educational plan, answer the following questions:
The article states, “In the past, there may have been some stigma about trade schools not being a viable option to pursue well-paying, long-term careers. However, times have changed! Now more than ever students are looking for alternative education options that allow them to complete school on a faster timeframe with less financial investment.” A stigma is defined as a mark of disgrace associated with a situation or person. What does the author mean by saying that in the past there may have been some stigma about trade schools? Why do you think this stigma existed?
Why do you think this article was written? Does it seem that the author favors trade school and college as equally enriching experiences? Why?
How did the author organize the information? Did the structure of the article help you see the clear pros and cons of trade schools and colleges? Why?
What is the author’s point of view? Analyze and discuss how they distinguish their point of view from others.
What are two (or more) central ideas in this text? How are these ideas developed over the course of the article?
If you had to choose a path right now—college or trade school—which would you choose? Include details from the article that helped sway your decision.
How College Loans Exploit Students for Profit
Explain the issue Samuel discusses that has 40 million Americans in debt.
Samuel mentions three truths that you can’t ignore—briefly explain at least one of the following truths:
What is Income-Based Tuition? Discuss the three advantages to Income-Based Tuition.
4 Pillars of College Success in Science
Why did Hrabowski join the Children’s Crusade in Birmingham? What was the most important lesson that he learned?
Hrabowski states, “…most people don’t realize that it’s not just minorities who don’t do well in science and engineering.” Please explain this statement and give a brief summary regarding how Hrabowski supports this statement.
Why do students who attend the most prestigious universities in our country begin in pre-med or pre-engineering and engineering but end up changing their majors?
Explain the four things that Hrabowski’s university did to help minority students that are now helping all students?
Answers
When deciding between trade school and college, consider your career goals, personal preferences, financial situation, and long-term prospects in the chosen field. It's important to research specific programs, talk to professionals in the field, and weigh the pros and cons to make an informed decision.
Pros of Trade Schools:
1. Practical Skills: Trade schools focus on hands-on training, providing practical skills that are directly applicable to specific professions.
2. Shorter Duration: Trade programs are usually shorter in duration compared to traditional four-year college degrees, allowing students to enter the workforce sooner.
3. Cost-effective: Trade schools are often more affordable than colleges, as the programs are more focused and have lower tuition fees.
4. Job Opportunities: Trade school graduates can find employment in high-demand fields, such as electricians, plumbers, mechanics, and healthcare technicians.
Cons of Trade Schools:
1. Limited Scope: Trade schools offer specialized training, which may limit career flexibility or advancement opportunities in other fields.
2. Earnings Potential: While trade jobs can be financially rewarding, some professions may have lower earning potential compared to careers that require a college degree.
3. Perception: Despite changing attitudes, there may still be some societal stigma associated with trade jobs as being less prestigious than professions requiring a college degree.
Pros of College:
1. Broad Education: College provides a comprehensive education, fostering critical thinking, communication skills, and a broader understanding of various subjects.
2. Career Opportunities: Some careers, such as medicine, law, and engineering, typically require a college degree.
3. Networking and Resources: Colleges offer access to a vast network of alumni, resources, internships, and career services that can enhance job prospects.
4. Personal Growth: College experiences often promote personal growth, independence, and self-discovery.
Cons of College:
1. Lengthy Duration: College programs usually take longer to complete, extending the time before entering the workforce.
2. Financial Burden: College education can be expensive, often requiring students to take on student loans and potentially resulting in significant debt.
3. Unemployment: College graduates may face challenges finding immediate employment in their field of study due to market conditions or competition.
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I need a an idea of followership introduction help me!
Answers
Followership refers to the role, behavior, and actions of individuals who are not in a leadership position, but rather, they support and collaborate with their leaders to achieve shared goals. Followership is an essential aspect of organizational success, as it complements leadership and fosters a harmonious work environment.
Effective followers exhibit characteristics such as being proactive, taking responsibility, and engaging in open communication with their leaders. They also possess the ability to think critically and provide valuable feedback for the betterment of the team. By embracing the principles of followership, individuals contribute positively to the overall performance and morale of the organization.
It is important to note that followership does not imply blind obedience or passivity. Instead, it involves active engagement and collaboration with leaders to achieve common objectives. In this dynamic relationship, leaders and followers must work together, learn from each other, and adapt to changing circumstances.
In conclusion, followership is a vital component of successful organizations and plays a significant role in accomplishing shared goals. By cultivating strong followership skills, individuals can effectively support their leaders, enhance team performance, and contribute to the growth and success of the organization.
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Holloway Company earned $6,800 of service revenue on account during Year 1. The company collected $5,780 cash from accounts receivable during Year 1. Required Based on this information alone, determine the following for Holloway Company. (Hint: Record the events in general ledger accounts under an accounting equation before satisfying the requirements.) (Enter any decreases to account balances with a minus sign.) a. The balance of the accounts receivable that would be reported on the December 31, Year 1, balance sheet. b. The amount of net income that would be reported on the Year 1 income statement. c. The amount of net cash flow from operating activities that would be reported on the Year 1 statement of cash flows. d. The amount of retained earnings that would be reported on the Year 1 balance sheet.
Answers
The further discussion can be defined as follows:
For point A:Calculated to use this formulation is the account receivable
reported on the balance sheets
Using formula:
Admissible Accounts
For point B:The reported net income is revenue from services of \(\$18,000\)
For point C:The reported net cash flow from operations is \(\$14,000\) in
cash from accounts receivables in 1 year.
For point D:Reclaimed revenues are \(\$18,000\) representing the amount of net
income transferred to the retained income account.
So, the final answer is "$4,000, $18,000, $14,000, and $18,000".
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Kris Kerpstra is an employee for General Dynamics. Kris would be considered a human resource.
Answers
Answer:
I NEED THIS ANSWERRR TOOO!!
Explanation:
Answer:
Trisha wishes that she and Bo could become better friends. This is an example of an (Non) economic want.
Explanation:
Its not a economic want
The City of Oxbow General Fund has the following net resources at year-end:
$250,000 unexpended proceeds of a state grand required by law to be used for health education.
$10,000 of prepaid insurance.
$600,000 rainy day fund approved by city council for use under specified circumstances.
$200,000 budget stabilization fund to be used in the event of revenue shortfall.
$275,000 provided for contractual obligations for capital projects.
$26,000 unexpended proceeds of a tax required by law to be used for emergency 911 services.
$1,622,000 total fund balance.
Prepare the fund balance section of the balance sheet.
Answers
Answer:
$1,622,000
Explanation:
Preparation of the fund balance section of the balance sheet.
Partial Balance Sheet-General Fund
As of December 31
FUND BALANCES SECTION OF THE BALANCE SHEET
Nonspendable:
Prepaid Insurance $10,000
Restricted:
Intergovernmental Grants $250,000
Emergency services $26,000
Committed:
Rainy Day Fund $600,000
Capital Projects $275,000
Assigned:
Unassigned $461,000
TOTAL fund balance $1,622,000
Therefore the fund balance section of the balance sheet will be $1,622,000
Given below are some instructions on how to make a sandwich
Answers
A sandwich is a common and popular food that is easy to prepare and eat. It consists of two slices of bread with various fillings, such as vegetables, cheese, or meat, in between them.
Here are the instructions for making a sandwich in the passive voice:
a) Two slices of soft bread should be taken.
b) The crust should be trimmed.
c) Butter should be applied evenly on them.
d) The filling (cucumber or tomato slices, grated cheese, etc.) should be prepared.
e) The filling should be placed on one of the slices and covered with the other.
f) It should be pressed gently and chilled for some time.
g) It should be eaten when ready.
h) It will taste good.
The passive voice is used when the focus is on the action or the object that receives the action, rather than the person or thing performing the action. In the case of making a sandwich, the passive voice is useful for making the instructions clear and easy to understand.
The question was incomplete, Find the full content below:
Given below are some instructions on how to make a 'sandwich'. Read them carefully and then rewrite each of them in the passive voice.
a) Take two slices of soft bread.
b) Trim their crust.
c) Apply butter evenly on them.
d) Prepare the filling (cucumber or tomato slices, grated cheese, etc.)
e) Place filling on one of the slices and cover with the other.
f) Press gently and chill for sometime.
g) Eat it when ready,
h) It will taste good.
Please help me as fast as possible
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Given
Principal = $11,500,
Interest Rate = 10%
Time = 240 days (use ordinary interest)
Partial payments:
On 100th day, $6,000
On 180th day, $3,500
a. Use the U.S. Rule to solve for total interest cost. (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.)
b. Use the U.S. Rule to solve for balances. (Use 360 days a year. Do not round intermediate calculations. Round your answers to the nearest cent.)
c. Use the U.S. Rule to solve for final payment. (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.)
Answers
Total interest=$489.58
Balance after 100th day=$5,819.44
Balance after 180th day=$2,448.77
Final payment=$2,489.58
Compute the total interest, the balances on the 100th and 180th days as well as the final payment of the loan?
In the first place, ordinary interest means simple interest, in other words, the simple interest approach would be used in computing the interest due at every point in time.
Interest=loan balance*interest rate*number of days that interest is due/360 days
Interest on 100th day=$11,500*10%*100/360
Interest on 100th day=$319.444444
balance after 100th day=initial principal+ interest-partial payment
balance after 100th day=$11,500+$319.444444 -$6,000
balance after 100th day=$5,819.444444
Note it has been 80 days since the payment of the last interest on 100th
interest on 180th day=$5819.444444 *10%*80/360
interest on 180th day=$129.320988
balance of the loan on the 180th day=$5,819.444444+$129.320988-$3,500
balance of the loan on the 180th day=$2,448.765432
The final payment would be the balance as of the 180th day plus the interest for the last 60 days(180th-240th)
final interest=$2,448.765432*10%*60/360
final interest =$40.812757
Final payment=$2,448.765432+$40.812757
Final payment=$2,489.58
Total interest=$319.444444+$129.320988+$40.812757
Total interest=$489.58
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Why does GAAP allow for unclear financial statements?
Answers
Answer:
GAAP in accounting helps businesses: Generally accepted accounting principles ensure businesses use a standard method to report financial information. Think of these principles as a rulebook that companies follow when creating financial statements (income statement, balance sheet, and cash flow statement).
Explanation:
Note that common skills are listed toward the top, and less common skills are listed toward the bottom. According to O*NET, what are common skills needed by Postsecondary Education Administrators? Check all that apply.
speaking
active listening
reading comprehension
science
critical thinking
quality control analysis
Answers
According to O*NET, the common skills needed by Post-secondary Education Administrators are: Speaking, Active listening, Reading comprehension, and Critical thinking.
Administrators in postsecondary education help students with a range of activities, including class registration and admissions application completion.
Administrators in postsecondary education are in charge of faculty research, academics, and student services in colleges and universities.
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b. What amount did Lowe's pay in cash to its suppliers during fiscal year ended February 2019?
Answers
Using the T-accounts, the amount Lowe paid in cash to its suppliers during the fiscal year ended February 2019 was B. $29,101 million.
How the amount of payment is determined:From the T-accounts for Merchandise Inventory and Accounts Payable, we can determine the amount paid.
After posting the purchases for the period into the two accounts, the difference between the debit and credit sides of the Accounts Payable gives the amount paid to suppliers.
Merchandise InventoriesAccount Titles Debit Credit
Beginning balance $5,911
Accounts Payable 29,238
Cost of goods sold $28,443
Ending balance $6,706
Accounts PayableAccount Titles Debit Credit
Beginning balance $2,695
Merchandise 29,238
Cash payment $29,101
Ending balance $2,832
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Question Completion with Answer Options:During a recent fiscal year, Lowe's purchased merchandise inventory at a cost of $29,238 ($ millions). Assume that all purchases were made on account and that accounts payable is only used for inventory purchases. The following T-accounts reflect information contained in the company's balance sheets in millions.
What amount did Lowe's pay in cash to its suppliers during the fiscal-year?
Merchandise InventoriesBeginning balance $5,911
Ending balance $6,706
Accounts PayableBeginning balance $2,695
Ending balance $2,832
A. $29,238 million
B. $29,101 million
C. $137 million
D. $2,832 million
The craft wholesaler, Living Arts, offers a 15 percent discount on all Christmas
decorations bought before August 1. If a local crafts shop placed an order on July
11 for $3,300 worth of decorations, what would the discount and final price be?
Answers
Answer:
Discount amount: $495
The final price: $2,805
Explanation:
The local crafts shop made their order before august 1, hence qualifies for the 15% discount.
The discount amount will be 15% of $3,300
=15/100 x $3,300
=0.15 x $3,300
=$495
The final price will be
cost price - discount amount
=$3,300 - $495
=$2,805
Which career requires LESS education than an Auditor?
a) Accountant
b) Bookkeeper
c) Credit Analyst
d) Financial Manager
Answers
Compared to a purely competitive industry, a monopolist will
Select one:
a.
have higher quantity and lower price.
b.
have higher quantity and higher price.
c.
have lower quantity and lower price.
d.
have lower quantity and higher price.
Answers
Compared to a purely competitive industry, a monopolist will have a lower quantity and higher price. Thus the correct option is D.
What is Monopolist?A monopoly is a market structure in which there is just one sizable company that controls the whole sector. The right to manage the product supply and market pricing belong to this one company.
While there are multiple buyers and sellers in a market that is entirely competitive, a monopoly is characterized by a single seller and many buyers, which results in a higher price being set.
Therefore, option D is appropriate.
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The contrast between those with and those without Internet access is known as the __________ divide.
A. technology
B. global digital
C. interspace
D. None of the above
Answers
Answer: It is 100% B. Global digital
Explanation: The answer is on Quizlet.
The contrast between those with and without Internet access is known as the Global Digital divide. Thus option (B) is correct.
What is the Digital Divide?The digital divide refers to the gap between demographics and regions that have access to modern information and communications technology and those that don't.
The digital divide encompasses the technical and financial ability to utilize available technology, along with access(or lack of access) to the internet. It exist between developed and developing, urban and rural populations.
The consequences of the digital divide include isolation, which can affect mental health, educational barriers as postsecondary education increasingly moves online, and worsening gender discrimination, also affects the human and economic development of a nation.
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Miramar Tire and Rubber Company has capacity to produce 119,000 tires. Miramar presently produces and sells 91,000 tires for the North American market at a price of $99.00 per tire. Miramar is evaluating a special order from a South American automobile company, Ria Motors. Rio Motors is offering to buy 11,000 tires for $83.25 per tire. Miramar's accounting system indicates that the total cost per tire is as folows: Direct materials Direct labor Factory overhead (70% variable) Selling and administrative expenses (30% variable) Total 538 23 20 $95 Miramar pa s a sales commiss on equal to 5% of t e seling price on North American arders, whichis n uded in the variable portion of the selling and adm?n strative expenses. However, this special order would not havea sales comm saan. If the order was accepted, the tires would be shipped overseas for an additional shipping cost of $5.00 per tire. In addition, Rio has made the order conditional on Miramar Tire and Rubber Company receiving a Brazilian safety certification. Rio estimates that this certification would cost Miramar Tire $72,800
a. Prepare a differential analysis report for the proposed sale to Rio Motors, Round your answers to the nearest cent.
b. What is the minimum price per unit that would be financially acceptable to mirama?Round your answers to the nearest cent.
Answers
Answer:
a) spare capacity = 119,000 - 91,000 = 28,000 tires
normal sales price $99 per tire
special order for 11,000 at $83.25
Direct materials $38
Direct labor $14
Factory overhead (70% variable) $23
Selling and administrative expenses (30% variable) $20
Total $95
total avoidable costs = ($23 x 30%) + ($20 x 70%) = $20.90
total unavoidable costs = $74.10
additional costs related to the special order $5 per tire (shipping costs) + $72,800 in total
accept special reject special differential
order order amount
sales revenue $915,750 $0 $915,750
variable prod. costs ($815,100) $0 ($815,100)
variable costs ($55,000) $0 ($55,000)
associated to special order
certification costs ($72,800) $0 ($72,800)
associated to special order
total ($27,150) $0 ($27,150)
b) minimum price per unit = ($27,150 / 11,000) + $83.25 = $85.7182 ≈ $85.72
QUESTION ONE
ABC Ltd wishes to expand its business. On 31 Dec 2021, the company had
the following existing and proposed capital structures to support the
expansion programme.
1. The existing 8% debt capital has a book value of Ksh 50 000 000 and
matures in 10 years. The market value of debt at the close of business on
31 Dec 2021 was Ksh 40 000 000
2. A ten year loan of Ksh 300 000 000 is to be raised at an interest of 10
percent p.a. A cost of Ksh 20 000 000 will be incurred in raising this loan
3. A 12% preference stock capital stands in the books at Ksh 100 000 000
( 1 000 000 shares) and has a total market value of Ksh 150 000 000.
4. There are 40 000 000 ordinary shares with a current market price of Ksh
1500 each. The firm’s expected earnings per share (EPS) stand at Ksh
200, its growth rate is 6% and has a dividend payout of 60%.
5. The company plans to issue 10 000 000 ordinary shares at a market price
of Ksh 1 500 per share. The cost of floating the shares is estimated at Ksh
10 000 000.
Required:
i) Firm’s current weighted average cost of capital (10 marks)
ii) Firm’s expected weighted average cost of capital after the expansion
programme (i.e. marginal cost of capital) (5 marks)
QUESTION TWO
An investor intends to place Ksh 112,000,000 in the 91 days Treasury bill at a quoted rate/yield of 7.65%
p.a.
Required:
a) Compute the investor’s return, assuming that he is withholding tax-payer
b) Compute the investor’s return, assuming that he is non-withholding taxpayer (6 marks)
Answers
Answer:
rat
Explanation: