Diaz Company owns a milling machine that cost $126,600 and has accumulated depreciation of $92,600. Prepare the entry to record the disposal of the milling machine on January 3 under each of the following independent situations.

1. The machine needed extensive repairs, and it was not worth repairing. Diaz disposed of the machine, receiving nothing in return.

Record the disposal of the machine receiving nothing in return.

2. Diaz sold the machine for $17,500 cash.

Record the sale of the machine for $17,500 cash.

3. Diaz sold the machine for $34,000 cash.

Record the sale of the machine for $34,000 cash.

4. Diaz sold the machine for $40,900 cash.

Record the sale of the machine for $40,900 cash.

Answer:

Explanation:

1. Calculate ending inventory        Rate per unit       Total cost

                         number of units        ($)                          ($)

Beg bal (April1)  450                         2.19                       985.50

Add:purchases  

April 20             410                            2.69                      1102.90

-----------------------------------------------------------------------------

Total goods

av for sale         860                                                          2088.40

Less: Sales:

During April       590

--------------------------------

Ending inventory 270

2. Cost of ending inventory = 270*2.19=$591.3

Answer:

Many a times enterprises create too many disparate and unrelated data marts without much benefit. It can become a big hurdle to maintain.

Explanation:

A data mart is an Information technology structure or pattern specific to data warehouse environments.

Data mart is an element of data warehouse. It is used to retrieve data related to client-facing activities and is usually designed specifically for the needs of its users.

Based on the options given, the disadvantage of data mart is that many a times enterprises create too many disparate and unrelated data marts without much benefit. It can become a big hurdle to maintain.

It should be noted that statement that doesn't belong to advantages of a data warehouse over a data mart is

A data mart can be regarded as structure  which is been to data warehouse environments, and it act as avenue for retrieving client-facing data.

with data Mart there us usually  faster access of Data and easy use of it because it is specifically designed for the needs of its users.

Therefore,  one disadvantages of a data warehouse over a data mart is many a times enterprises create too many disparate and unrelated data marts without much benefit.

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Answer:

Part A:

Labur Productivity:

For US=5.14,         LDC=1.35

Capital Productivity:

For US=1.72          LDC=4.31

Part B:(Multi factor productivity)

For US=1.29         LDC=1.03

Part C: (Raw material productivity)

For US=4.90        LDC=10.02

Explanation:

Part A:

Labur Productivity:

For US:

[tex]Partial Labor Productivity=\frac{Sale(units)}{Labour(hours} \\Partial Labor Productivity=\frac{100505}{19550} \\Partial Labor Productivity=5.14[/tex]

For LDC:

[tex]Partial Labor Productivity=\frac{Sale(units)}{Labour(hours} \\Partial Labor Productivity=\frac{19600}{14550} \\Partial Labor Productivity=1.35[/tex]

Capital Productivity:

For US:

[tex]Capital Productivity=\frac{Sale(units)}{Capital Equipment} \\Capital Productivity=\frac{100505}{58600}\\Capital Productivity=1.72[/tex]

For LDC:

[tex]Capital Productivity=\frac{Sale(units)}{Capital Equipment} \\Capital Productivity=\frac{19600}{4550}\\Capital Productivity=4.31[/tex]

Part B:

For US:

[tex]Multifactor Productivity=\frac{Sales(units)}{labour(Hours) + Capital Equipment(hours)}\\ Multifactor Productivity=\frac{100505}{19550+58600} \\Multifactor Productivity=1.29[/tex]

For LDC:

[tex]Multifactor Productivity=\frac{Sales(units)}{labour(Hours) + Capital Equipment(hours)}\\ Multifactor Productivity=\frac{19600}{14550+4550} \\Multifactor Productivity=1.03[/tex]

Part C:

For US:

[tex]Raw material productivity=\frac{Sales(Hour)}{Raw Material} \\ Raw material productivity=\frac{100505}{20500} \\ Raw material productivity=4.90[/tex]

ForLDC:

Converting Raw material FC into $ (1$=10FC)

Raw Material =19550/10=$1955

[tex]Raw material productivity=\frac{Sales(Hour)}{Raw Material} \\ Raw material productivity=\frac{19600}{1955} \\ Raw material productivity=10.02[/tex]

Answer:

The correct answer is letter "C": businesses-to-consumer.

Explanation:

Businesses-to-consumer (B2C) sales are those in which the manufacturer or firm directly offers its product or services to the final users. The advantage of this practice is charging higher since companies do not have to consider a special price for suppliers to earn profits. The drawback lays in the fact that en users usually purchase items in small sizes.

Answer:

The correct answer is letter "B": direct.

Explanation:

Direct Costs for finished goods refer to the items and services directly used in production. Other costs such as rent and insurance for the production site are indirect costs. Examples of direct costs are direct labor and materials, manufacturing supplies or even commissions out of sales.

Answer:

B. Costs outweigh benefits by $1,600

Explanation:

Total costs are comprised by software costs ($10,300), employee training costs ($8,200) and hardware upgrades costs ($12,000).

[tex]C = \$10,300+\$8,200+\$12,000\\C=\$30,500[/tex]

The benefits from the new system are $29,000.

Therefore, costs outweigh benefits by the following amount:

[tex]C-B = \$30,500-\$29,000 = \$1,600[/tex]

B. Costs outweigh benefits by $1,600.

Answer:

1. Overtime= $1,000

2. Gross Pay= $10,000

3. State Income Taxes = $400

4. Total Deductions= $2,483

5/ Salaries and wages expenses = $10,000 (Gross Pay)

Explanation:

The question says to find the following:

1. Overtime

2. Total

3. State Income Taxes

4. Total Deductions

5. Salaries and Wages Expense

1. Overtime

Overtime is derived after calculating the total Gross Pay (2nd question)

Total Gross Pay= Regular + Overtime

$10,000= $9,000 + Overtime

Therefore, Overtime = $10,000-$9,000

Overtime= $1,000

2. Total Gross Pay (this should be treated before the 1st which is overtime)

= Gross Pay =

= calculated as FICA tax expense /the percentage of FICA taxes

FICA tax expense = $765

% of FICA taxes = 7.65

Gross Pay= $765 / 7.65% (0.0765)

= $10,000

3. State Income Tax

The state Income Taxes is derived as follows

Gross Pay x the given percentage (4%)

State Income taxes = $10,000 x 0.04

State Income taxes = $400

4. Calculate the total deductions

Total Deductions are the sum of the following

FICA taxes + federal Income taxes + State Income taxes + Union dues

= $765+ $1,128+$400+$190

= $2,483

5. Salaries and Wages Expense

The answer to this is simply the derived total gross pay (regular + overtime) Calculated in step 2

Gross pay= salaries and wages expense= $10,000

Answer:

B) the wages received for the fifth day of work.

Explanation:

Marginal benefit is the increment in benefit generated by an increase by one unit of output. In this situation, the marginal benefit is given by difference in wage of working five days a week from the wage of working four days a week. Therefore, the marginal benefit is the wage received for the fifth day of work.

The answer is alternative B)

Answer:

1) The account will be worth $328,983 after 45 years.

Explanation:

If we make 9.75% annually for 45 years our account will be worth 5000 compounded at 9.75% for 45 years. So account worth after 45 years =

5000*1.0975^45=328,983

Assuming an annual interest rate of 9.75%, a $5,000 retirement contribution would grow to approximately $304,481.79 in 45 years if no additional contributions are made. If you waited 10 years to contribute, the amount would be approximately $105,878.60 after 35 years. This highlights the strategy of investing early.

To calculate the value of your retirement account in 45 years, you would use the formula for compound interest, which is A=P(1+r/n)^(nt), where 'A' is the amount of money accumulated after n years, including interest, 'P' is the principal amount (the initial amount of money), 'r' is the annual interest rate (in decimal), 't' is the time the money is invested for in years, and 'n' is the number of times that interest is compounded per year.

Assuming your annual rate is 9.75% (or 0.0975 in decimal form), and you make no additional contributions, your $5,000 would grow to approximately $304,481.79 in 45 years. If you wait 10 years before you make your first contribution, the total amount after 35 years would be approximately $105,878.60.

This exercise suggests that the sooner you start investing, the more time your money has to grow. Through the power of compound interest, even a small initial investment can grow significantly over time. This suggests a strategy of starting to invest as early as possible in order to maximize potential returns.

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The trade-off between having more now and having more later involves sacrificing current consumption to invest in capital goods, which can increase future production and consumption.

The trade-off between having more now and having more later is one central to economics, involving current consumption versus future wealth. It is characteristic of capital goods that they are not used up in the short run. A society can choose to sacrifice some quality of life now—fewer consumer goods—in order to build up its stock of capital goods. This will lead to an increase in production—and more consumer goods—later on. This is because capital goods, like machinery and factories, are used to produce consumer goods. By sacrificing immediate consumption and investing in these capital goods instead, a society can increase its future production capacity.

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The trade-off between immediate consumption and future benefits is a decision-making process where present luxuries are sacrificed to improve future living standards through investments in capital goods and human capital.

The trade-off between having more now and having more later involves decision-making where present consumption is sacrificed to enhance future production. It is characteristic of capital goods that they are not used up in the short run. A society can choose to forego some quality of life now—fewer consumer goods—in order to build up its stock of capital goods. This will lead to a higher standard of living—and more consumer goods—later on.

By investing in capital goods and education, which increases human capital, societies make a conscious choice to delay immediate gratification for a potentially more prosperous future. This concept highlights the importance of resource allocation between current consumption and future growth opportunities. For individuals, like college students, investing time and money in education can mean short-term sacrifices for the prospect of a higher income and thus greater consumption in the future.

Answer:

c. Convenience

Explanation:

The convenience product is that product which is routinely or immediately purchased. The Dannon yogurt is easy to buy, as it has a very low price so every class can be purchased.  

The Dannon yogurt is a perishable commodity that is perishable in nature and is to be consumed daily.  

Examples of this convenience product include yogurt, milk, juices, candy,etc.

Answer:

The correct answer is letter "D": Speed.

Explanation:

The speed at which companies perform their activities is vital and can take a big role in determining the profits or losses of the business. Firms must be one step ahead in their production process to make sure deadlines are met and to predict failures to solve the issues immediately minimizing the output damages.

Answer:

D. Speed

Explanation:

Procrastination destroys human personal life as well as business. It separates the serious-minded and hardworking from the slothful and lazy, it separates the successful from the failure and separates the winners from the losers

Answer:

For an organization to survive, it must exchange information with it's external environment. An organization has no control over it's external environment, hence, it as to use the information of it's external environment for planning.

Explanation:

Wells Fargo, was one of the most valued bank, that operated a successful open system, before the scandal became public. However, it could not survive it's complex external environment, as the scandal had damaged the reputation of the bank, which largely affected the bank's market share.

Final answer:

Wells Fargo effectively interacted with its external environment as an open system by adapting to economic variables and customer demands. However, the scandal revealed inadequacies in its function as a complex adaptive system, marked by a failure to internalize and adapt to ethical standards and regulatory compliance.

Explanation:

Organizations such as Wells Fargo interact with their external environment through open system and complex adaptive system frameworks. Open systems partake in mutual exchange with external environments and are characterized by adaptability and response to external changes. As a complex adaptive system, an organization demonstrates the capacity to evolve its internal structure and behaviors in reaction to the external environment, thereby showcasing resilience and flexibility in the face of systemic pressures and changes. Prior to the public scandal, Wells Fargo was effective as an open system in its ability to engage with and adapt to external economic variables and customer demands. However, its effectiveness as a complex adaptive system was ultimately compromised by internal dysfunctions, leading to the scandal's emergence. These dysfunctions demonstrate a failure in the system's ability to adequately adapt and evolve its internal processes and cultural norms to maintain ethical standards and regulatory compliance, which is critical for the long-term resilience and survival of a complex adaptive system.

Answer:

Fewer study guides being sold.

Explanation:

The textbook and the study guides are the material or the books which help the student in order to gain knowledge by going through or study the textbook as well as the guide.

The study guide and the textbooks are complements means that the study guide is the supplement the textbooks as the study guide has the solutions for the questions of the textbooks.

But when there is increase in the price of the textbooks, the demand for the study guides will be decrease as the textbooks will not be purchased by the students which result in fewer study guides being sold in the market.

If textbooks and study guides are complements, then an increase in the price of textbooks will result in B. A decrease in the demand for study guides.

When textbooks and study guides are complements, it means that they are typically used together or are consumed together in some way.

For example, students often purchase study guides to supplement their learning from textbooks.

When the price of textbooks increases, it becomes more expensive for students to purchase textbooks.

As a result, students may be less inclined to spend additional money on study guides, especially if they are already facing higher costs for textbooks. This leads to a decrease in the demand for study guides because students are less willing to purchase them at the higher price.

In economic terms, the increase in the price of textbooks leads to a decrease in the demand for study guides, as the two goods are complements and their consumption patterns are interrelated.

Full question

If textbooks and study guides are complements, then an increase in the price of textbooks will result in:

A. An increase in the demand for study guides.

B. A decrease in the demand for study guides.

C. No change in the demand for study guides.

D. An increase in the price of study guides.

The operating cash flow for Pompeii, Inc. can be calculated by first determining earnings before tax, calculating the tax payment, and then using the formula OCF = (Sales - Costs) + Depreciation - Taxes. This results in an OCF of $25,662.50.

The question involves calculating the operating cash flow (OCF) for Pompeii, Inc. To determine OCF, we apply the following formula:

OCF = (Sales - Costs) + Depreciation - Taxes

First, we need to calculate the company's earnings before tax and the tax payment:

Now, we can calculate the operating cash flow (OCF):

Therefore, the operating cash flow for Pompeii, Inc. is $25,662.50.

Answer:

1. -$1,716,410.40

2. destroying wealth

Explanation:

The formula to compute EVA is shown below:

1. = Net operating income or earnings after taxes - (total capital employed × actual cost of capital)

= $14,107,956 - ($131,869,720 × 12%)

= $14,107,956 - $15,824,366.40

= -$1,716,410.40

2. As we see that the amount comes in negative that represent the wealth is destroyed

Answer:

1. Bad debt expense A/c Dr $3,250

      To Account receivable A/c $3,250

(Being the uncollectible receivables are recorded)

2. $27,750

Explanation:

1. The adjusting entry is shown below:

Bad debt expense A/c Dr $3,250

      To Account receivable A/c $3,250

(Being the uncollectible receivables are recorded)

2. The computation of ending balance of account receivable is shown below:

Ending account receivable balance = Beginning account receivable + credit sales - collections - written off amount

= $22,000 + $25,000 - $16,000 - $3,250

= $27,750

Answer:

PART 1: Wilson Trucking Company reported Net Income of $15,854  for the year ended December 31, 2017.

PART 2: As per the statement of changes in equity, K. Wilson Capital Account Balance as at December 31, 2017 is $190,124

* Please note that figures in brackets represent negative values.

Explanation:

PART 1    

                                           Wilson Trucking Company

                     Income Statement for the year ended December 31, 2017

Revenue

Trucking Fees                                                         $115,500  

Less Expenses:  

Depreciation expense of Trucks                                  $(26,043)

Salaries expense                                                          $(54,170)

Office supplies expense                                          $(9,500)

Repairs expense -Trucks                                          $(9,933)

Net Income                                                                 $15,854  

PART 2  

                                        Wilson Trucking Company

     Statement of changes in Equity for the year ended December 31, 2017

K. Wilson Capital Account Balance as at December 31, 2016  $193,270  

Add: Net Income for the year                                                          $15,854  

Less: K. Wilson withdrawals during the year                                  $(19,000)

K. Wilson Capital Account Balance as at December 31, 2017  $190,124  

To prepare the income statement, subtract the total expenses from the revenue to calculate the net income. For the statement of owner’s equity, start with the beginning balance of capital, add the net income, and subtract withdrawals to find the ending balance of Capital.

To prepare the income statement first you need to calculate the net income which is the total revenue minus total expenses. In this case, trucking fees earned ($115,500) is the revenue. The total expenses are the sum of all expenses which include salaries expense ($54,170), office supplies expense ($9,500), repairs expense - trucks ($9,933), and depreciation expense - trucks ($26,043). When you subtract the total expenses from the revenue, you get the net income.

For the statement of owner’s equity, you start with the beginning balance of K. Wilson, Capital ($193,270), then add the net income and subtract withdrawals made by K. Wilson ($19,000) within the year to reach the ending balance of K. Wilson, Capital.

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Answer:

From the information, observe that there is a relationship between the fuel economy and engine size.

The regression model is,

Mpg = 36.25 – 3.867 Engine size

The residual is the difference between the actual value and predicted value.

Residual = y - ŷ

Here, y is the actual value and ŷ is the predicted value.

The car gets positive residual, if the actual value is greater than the predicted value.

Therefore, in this context, a certain car has a positive residual means that the actual mileage of that particular car is greater than the predicted mileage.

A positive residual in a regression model measuring fuel economy based on engine displacement means the car's actual fuel economy is better than predicted. This can be confirmed by a residual plot showing data points above the zero line. Residuals need to be random, and patterns may indicate model issues.

If a regression model is predicting the fuel economy of a car based on its engine displacement, a positive residual indicates that the actual fuel economy of the car is better than what the model predicted. In more technical terms, the residual is the difference between the observed value, which is the actual fuel economy, and the predicted value, given by the regression equation (ŷ = bo + b₁x).

The presence of a positive residual suggests that the car is more fuel-efficient than its engine displacement would suggest according to the model. This can be visualized in a residual plot, where a positive residual is represented by a data point above the horizontal line at zero, which denotes no deviation from the predicted value.

When analyzing a residual plot, it is important to ensure that there is no pattern indicating systematic errors. Residuals should appear randomly distributed around the zero line, with no clear trends or patterns. If a trend is observed, this may indicate an issue with the model's assumptions such as non-linearity or heteroscedasticity.

Answer:

a. Cash Asset (Balance sheet, Statement of cash flow)

b. Expenses (Income Statement)

c. Noncash Assets (Balance sheet)

d. Contributed capital (Balance Sheet, Statement of stockholder's equity)

e. Cash outflow for capital expenditures (Statement of cash flow)

f. Retained earnings (Balance Sheet, Statement of stockholder's equity)

g. Cash inflow for stock issued (Statement of cash flow, Statement of stockholder's equity)

h. Cash outflow for dividends (Statement of cash flow, Statement of stockholder's equity)

i. Net income (Income statement, Statement of stockholder's equity, Statement of cash flow)

Explanation:

Balance sheet: This provides a statement of liabilities, assets, the business capital at any point in time. Its shows the difference between income and expenditure over a period of time.

Statement of Cash flows: This statement breaks down financial analysis into investing, operating and financing activities.

Statement of Stockholders' Equity: A finance document that is issued by a company as a part of the balance sheet. Also shows any increase or decrease in shareholder's equity for an accounting period.

Income Statement: This is a major financial statement that clearly shows how healthy an organization is performing over an accounting period.

Answer:

$3,100

Explanation:

Step 1: Draw up the Accounts Receivable Account

Opening Balance  $600          Allowance for Doubtful debt   $200

Sales                       $3,200       Cash Collected                        $3,100

                                                   Closing Balance                       $500

                                $3,800                                                         $3,800    

To calculate the cash collected from customers

first, add the debit side of the accounts receivable which is a sum of the opening balance and sales= 3,800

Secondly, add the figures in the credit side including allowance for doubtful debt and closing balance= $700

Thirdly, Subtract the lesser side from the greater, $3,800 - $700 = $3,100

$3,100 was cash collected from the customers in 2016

Answer:

$218

Explanation:

Answer:

Stockholder wealth growth should continuously be supposed of long term goal. It is in notice of shareholder or depositor that his prosperity continues to grow with smallest risk. Action which keeps stock at 20$ for numerous year and then increased to 40$ in year 5 is desirable as the wealth of the stockholder increases.

Sometime company capitalize in building dimensions so that it can yield more units of its product thus growing the sale. When the corporation is doing capex, stock price will remain stationary and as soon as its capex ends stock price will rise at fast pace.

The second course of action that keeps the stock at $20 for many years and then rises to $40 in the 5th year is better as the wealth of the stockholder maximizes at a steady rate.

Wealth Maximization is the concept of ​​increasing the value of a business in order to increase the number of shares held by shareholders.

The growth of shareholders' wealth should continue to be a long-term goal. It is up to the shareholder or investor to determine if his or her fortune will continue to grow at a very small risk.

Sometimes a company makes money by building size so that it can produce more units of its product and thus increase sales. When a company makes a capital expenditure the stock price will remain stagnant and as soon as the capital expenditure ends the stock price will rise sharply.

Thus, the second course of action is better as it slowly and steadily increases the value of stock price from $20 to $40 in 5 years.

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Answer:

0.1125 or 11.25% for each firm

Explanation:

Given that,

Each has $10 million in invested capital,

$1.5 million of EBIT

25% federal-plus-state tax bracket

ROIC for LL:

= [EBIT × (1 - tax rate)] ÷ invested capital

= [1.5 × (1 - 25%)] ÷ 10

= 0.1125 or 11.25%

ROIC for HL

= [EBIT × (1 - tax rate)] ÷ invested capital

= [1.5 × (1 - 25%)] ÷ 10

= 0.1125 or 11.25%

Therefore, the return on invested capital (ROIC) for each firm is 11.25%

Answer:

A. How much capital do I need?

Explanation:

The question is incomplete with regards to the options.please refer below the complete question:

All of the following are questions an opportunity assessment plan might answer except:

A. How much capital do I need?

B. What market need does it fill?

C. What business skills do I have?

D. Can a patent be obtained?

Answer:

 $12,000  

Explanation:

The total product cost for artinez Manufacturing Inc. can be determined using the following formula:

Direct materials                                                             $7,000

Direct labor                                                                   $3,000

Manufacturing overhead                                             $2,000

Total product cost for last month                               $12,000                          

Answer and explanation:

Job research should be taken seriously if individuals want to match their expectations with what a company may offer. Otherwise, disappointments will arise leading them to start a job and quitting after a short period. In the long run, that scenario will not help professionals to make a path career. So, common questions that must be asked while identifying a personal interest in job research are:

Answer:

(a) 3,250 units

(b) 5,750 units

Explanation:

(a) BEP(units):

= fixed cost ÷ contribution margin per unit

= $52,000  ÷ ($18 - $2)

= 3,250 units

Therefore, the 3,250 units must Warner sell per month to break even.

(b) BEP(units):  

= (fixed cost + target profit) ÷ contribution margin per unit

= ($52,000 + $40,000) ÷ $16

= 5,750 units

Therefore, the units must Warner sell per month to make an operating profit of $40,000 is 5,750 units.

Warner Clothing needs to sell 3,250 units per month to break even and 5,750 units per month to generate an operating profit of $40,000. These numbers were calculated using principles of break-even analysis in business.

In the context of business, break-even analysis is a tool to determine how many units of a product must be sold to cover the costs of production. To calculate the break-even point, we use the formula: Fixed Costs ÷ (Selling Price per Unit - Variable Cost per Unit). Given the values: Fixed Costs = $52,000, selling price per unit = $18, variable costs = $2, the calculation would be as follows: $52,000 ÷ ($18 - $2) = 3,250 units. Therefore, Warner Clothing must sell 3,250 baseball hats per month to break even.

To calculate the number of units needed to make a certain profit, you use the formula: (Fixed Costs + Desired Profit) ÷ (Selling Price per Unit - Variable Cost per unit). Thus, for Warner to make an operating profit of $40,000, the calculation is: ($52,000 + $40,000) ÷ ($18 - $2) = 5,750 units. In summary, Warner Clothing needs to sell 5,750 baseball hats per month to make a profit of $40,000.

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Answer:

C. termination of employment.

Explanation:

When someone repeatedly violates an organization policies, or has a severe violation, their contract is terminated.

Let's look at some National Football League(NFL) examples.

In case of repeated violations, you have Antonio Brown on the Raiders. He was released(fired) with no pay.

In case of a severe violation, you have the Patriots releasing(firing) Aaron Hernandez when he was arrested for the murder of Odin Lloyd.

In a daily job, if you arrive repeatedly late, or assault other employee, you are also going to be fired.

So the correct answer is:

C. termination of employment.

Answer: The income tax expense $100,800, net income $252,000

Explanation:

To calculate net income

Income from continuing operation before income tax - income before tax-loss on discontinued operation

= 315,000 - 63,000

= 252,000

To calculate line item amount for income tax expense ,we use the formula

Income tax expense = Taxable income × tax rate

Taxable income = $252,000 , Tax rate = 40% ( 40 ÷ 100) = 0.4

= 252,000 × 0.4

= $100,800