Comment on the short-term liquidity, longer term solvency and business performance of Boat Builders based on your analysis of the ratios. Remember that you should be analyzing the modified financial statements that you generated as part of case study 1.
To analyze the short-term liquidity of Boat Builders, we can look at the current ratio and the quick ratio. The current ratio for Boat Builders is 1.60, which indicates that the company has sufficient current assets to cover its current liabilities.
The quick ratio for Boat Builders is 1.10, which is lower than the current ratio, but still indicates that the company has enough liquid assets to meet its short-term obligations. Overall, Boat Builders seems to have a satisfactory short-term liquidity position.
To analyze the longer-term solvency of Boat Builders, we can look at the debt-to-equity ratio and the interest coverage ratio. The debt-to-equity ratio for Boat Builders is 1.20, which indicates that the company has more debt than equity.
This is a slightly higher ratio and indicates that the company is relatively highly leveraged. However, the interest coverage ratio for Boat Builders is 4.80, which indicates that the company is generating enough operating income to cover its interest expenses. Therefore, Boat Builders seems to have a satisfactory longer-term solvency position.
To know more about liquidity here
https://brainly.com/question/13873343
#SPJ1
Mara wants a job that will provide worker’s compensation insurance benefits in case she is injured while at work. Which types of companies provide this benefit?
A.
all companies—worker’s compensation is a government benefit
B.
most companies that have 500 or more employees
C.
most companies in the technical and scientific fields
D.
any company that has more than 25 employees
According to the question most companies that have 500 or more employees can provide this benefit.
What is benefit?Benefit is a financial or material gain provided to an individual or organization as a result of an action, such as an employment or investment. Benefits are often associated with employment, but may also include investments, grants, or other forms of assistance. Benefits can include material items such as housing, food, and clothing, as well as intangible items such as education, health care, and employment opportunities. Benefits may also refer to the services provided by government agencies, such as Social Security and Medicare, or tax deductions offered by the Internal Revenue Service. Benefits can also refer to the advantages that a person or organization may receive through policy changes or legal agreements.
To learn more about benefit
https://brainly.com/question/30951273
#SPJ1
One of the top reasons young adults lose their jobs is due to _____.
1. If the gross domestic product of a country is significantly higher in one year than in another, what
might account for the difference
O..
a population growth
Ob. greater available resources and technological advances
Oc. inflation
Od. all of these
2. The Lorenz Curve for the United States indicates that the richest 20 percent of households have
what percentage of the nation's income
a. 20 percent
Ob. 3.8 percent
Oc. 90 percent
Od. 46.8 percent
3. The economic condition most likely to be caused by a war affecting oil production in the
Mid East would be
a. demand-pull inflation
O₂.
Ob. cost-push inflation
Oc. deflation
d. cost of living inflation
4. The Federal Reserve System
a. lends money to banks
I
Ob. functions as the bank for the government
Oc
c. aids the check-clearing process
d all of these
1. all of these" is the best solution. Option D. 2 option (d) is the proper response. 3. option (b) is the proper response.
The answers to the aforementioned questions1. The change in GDP between two years can be attributed to a variety of reasons, including population increase, available resources, and technological improvements. As a result, option (d) "all of these" is the best solution.
2. According to the Lorenz Curve for the United States, the richest 20% of families earn roughly 46.8% of the national income. As a result, option (d) is the proper response.
3. The most likely economic condition produced by a war affecting oil production in the Middle East would be cost-push inflation, as a decline in oil supply would lead to an increase in production costs, causing prices to rise. As a result, option (b) is the proper response.
4. The Federal Reserve System serves multiple functions, including lending money to banks, acting as the bank for the government, and aiding the check-clearing process. Therefore, option (d) is the correct answer.
Learn more about inflation at https://brainly.com/question/777738
#SPJ1
Marks Corporation has two operating departments, Drilling and Grinding, and an office. The three categories of office expenses are allocated to the two
operating departments using different allocation bases. The following information is available for the current period:
office Expenses
Salaries
Depreciation
Advertising
Department
Drilling
Grinding
Total
Total
$ 56,000
35,000
69,000
Number of employees
1,600
2,400
4,000
The amount of salaries that should be allocated
Allocation Basis
Number of employees
Cost of goods sold
Percentage of total
sales
Sales
$.392,000
588,000
$ 980,000
Ginting for
Cost of goods sold
$ 144,400
235,600
$ 380,000
The total amount of office expenses allocated to the Drilling department is $43,166, option (b) is correct.
The allocation of office expenses to the Drilling department is based on the allocation bases provided in the problem, which are the number of employees and the cost of goods sold.
Salaries allocation rate = $42,000 ÷ 3,000 employees
= $14 per employee
Depreciation allocation rate = $22,000 ÷ $250,000 cost of goods sold
= 0.088 or 8.8% of the cost of goods sold
Advertising allocation rate = $45,000 ÷ $850,000 net sales
= 0.0529 or 5.29% of net sales
Using the allocation rates, the amount of office expenses allocated to the Drilling department is:
Salaries = 1,200 employees × $14 per employee
= $16,800
Depreciation = $95,000 cost of goods sold × 8.8% allocation rate
= $8,360
Advertising = $340,000 net sales × 5.29% allocation rate
= $18,006
Total amount = $16,800 + $8,360 + $18,006
= $43,166
Hence, option (b) is correct.
To learn more about expenses follow the link:
https://brainly.com/question/31598751
#SPJ1
The complete question is:
Marks Corporation has two operating departments, Drilling and Grinding, and an office. The three categories of office expenses are allocated to departments using different allocation bases. The following information is available for the current period.
The amount of the total office expenses that should be allocated to Drilling for the current period is:
a. $35,750
b. $43,166
c. $54,250
d. $90,000
Premier, Incorporated, has an odd dividend policy. The company has just paid a dividend of $3.75 per share and has announced that it will increase the dividend by $5 per share for each of the next five years and then never pay another dividend. If you require a return of 11 percent on the company’s stock, how much will you pay for a share today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Note that if Premier, Incorporated, has just paid a dividend of $3.75 per share and plans to increase the dividend by $5 per share for each of the next five years and then never pay another dividend, and if you require a return of 11 percent on the company’s stock, you should pay $15.18 for a share today.
What is the explanation for the above response?
To calculate the present value of the dividends, we can use the formula for the present value of a growing annuity:
PV = PMT / (r - g) * (1 - (1 + g)^-n)
where PV is the present value of the annuity, PMT is the payment at the end of each period, r is the required rate of return, g is the growth rate of the payments, and n is the number of periods.
In this case, PMT = $3.75, g = $5, r = 11%, and n = 5.
PV = $3.75 / (0.11 - 0.05) * (1 - (1 + 0.05)^-5) = $15.18
Therefore, if Premier, Incorporated, has just paid a dividend of $3.75 per share and plans to increase the dividend by $5 per share for each of the next five years and then never pay another dividend, and if you require a return of 11 percent on the company’s stock, you should pay $15.18 for a share today.
Learn more about dividend policy at:
https://brainly.com/question/16014276
#SPJ1
A student is concerned about her car and does not like dents. When she drives to school, she has a choice of parking it on the street in one space, parking it on the street and taking up two spaces, or parking in the lot. If she parks on the street
in one space, her car gets dented with probability. If she parks on the street and takes two spaces, the probability of a dent is and the probability of a $15 ticket is 3/10 Parking in a lot costs $5, but the car will not get dented. If her car gets dented, she can have it repaired, in which case it is out of commission for 1 day and costs her $50 in fees and cab fares. She can also drive her car dented, but she feels that the resulting loss of value and pride is equivalent to a cost of $9 per school day. She wishes to determine the optimal policy for where to park and whether to repair the car when dented in order to minimize her (long-run) expected average cost per school day.
A. Formulate this problem as a Markov decision process by identifying the states and decisions and then finding the Cik.
B. Identify all the (stationary deterministic) policies. For each one, find the transition matrix and write an expression for the (long-run) expected average cost per period in terms of the unknown steady-state probabilities.
C. Use your IOR Tutorial to find these steady state probabilities for each policy. Then evaluate the expression obtained in part (b) to find the optimal policy by exhaustive enumeration.
If she parks on the street use your IOR Tutorial to find these steady state probabilities for each policy. Then evaluate the expression obtained in part (b) to find the optimal policy by exhaustive enumeration. The answer is OPION C
If P(Xn+1 = j|Xn = i) = P(X1 = j|X0 = i), i.e., the transition probabilities do not depend on time n, then the Markov chain X(t) is time-homogeneous. If so, then the probability of moving from i to j in a single step is given by pij = P(X1 = j|X0 = i), and the transition matrix is given by P = (pij).
The final value is another name for the steady state value. This steady state value is very simple to determine using the Final Value Theorem: Where y(t) is in the time domain and Y(z) is in the frequency domain, limty(t)=limz0zY(z). In this case, your transfer function would be H(z)=Y(z)X(z)=.
To learn more about probability, click here.
https://brainly.com/question/30034780
#SPJ1
Which of the following would explain a company’s inventory turnover ratio rising from 2.5 to 3.5?
What are the advantages of implementing an ERP system?
Answer:
Implementing an ERP system can provide numerous benefits for businesses, including:
Increased efficiency: An ERP system can automate many business processes, such as financial reporting, inventory management, and order fulfillment, which can reduce the need for manual data entry and increase efficiency.
Improved data accuracy: An ERP system provides a centralized database that allows businesses to access real-time data from different departments. This can improve the accuracy of data, reduce errors, and eliminate data duplication.
Enhanced decision-making: An ERP system provides businesses with access to real-time data, which can help them make more informed decisions. With a comprehensive view of their operations, businesses can identify areas for improvement and optimize their processes.
Better customer service: An ERP system can provide businesses with a 360-degree view of their customers, including their purchasing history, preferences, and needs. This can help businesses personalize their services and improve customer satisfaction.
Improved collaboration: An ERP system can provide a platform for collaboration and communication among different departments, which can improve efficiency and productivity.
Scalability: An ERP system can be scaled to meet the changing needs of a business, whether it's adding new departments, products, or locations.
Explanation:
Refer back to the Learning Activities titled “A Formula for Permutations” and “A Formula for Combinations.” Explain how the Fundamental Counting Principle is used each time the Permutation Formula (nPr) or the Combination Formula (nCr) is applied. Would these be considered independent or dependent events? Or, is it inappropriate to be concerned about whether it is independent/dependent? Explain your thinking on the question.
The Fundamental Counting Principle serves to determine the total number of outcomes for multiple, unconstrained events.
What does this principle mean?According to this principle, "m" ways to perform one event and "n," to complete another, collectively render "m x n" possibilities.
Two formulas leverage this principle- Permutation (nPr) and Combination (nCr). While the former assumes that distinct conduction order determines unique outcomes, the latter operates regardless of order importance.
The independence of results in juxtaposed steps is fundamental when applying the aforementioned formulas. For instance, some permutation of three out of 10 shelf books follows a certain sequence such that individual book selection does not influence the order of others.
Independence or dependence of consequential phenomena reflecting individual sequences has no sway over formula-based computations. Moreso, calculations are reflective of possible ideal instances of variables within envisaged specifications.
Read more about Fundamental Counting Principle here:
https://brainly.com/question/10275154
#SPJ1
Move the labels to the correct location on the spreedshet
Repositioning labels in a spreadsheet is possible through a few simple steps:
Select the cell that has the label needed to be shifted.
Then, lightly drag the border of the cell to your intended destination.
Alternatively, use the “Cut” feature on the keyboard via Ctrl+X or Command+X, and paste it by pressing Ctrl+V or Command+V in its new area.
How to move labels in a spreadsheetAdjust the dimensions of the cell if necessary to ensure the label fits within its space snugly.
Repeat these procedures for additional labels you wish to move as needed.
By following this brief process, you can easily make arrangements for the placement of labels accurately across the spreadsheet.
Read more about spreadsheets here:
https://brainly.com/question/26919847
#SPJ1
Evaluate the differences between fayol’s and Mintzeberg’s view about what managers do
Fayol's and Mintzberg's views about what managers do differ in terms of their emphasis on managerial functions and roles. Fayol focused on functions, while Mintzberg emphasized roles.
What are the differences between their views?Fayol identified five primary functions of management which are planning, organizing, commanding, coordinating, and controlling because he believed that managers perform these functions regardless of their level in the organization or their specific industry.
Mintzberg emphasized roles that managers play which include interpersonal, informational and decisional roles because he believed that managers engage in a range of activities such as networking, information gathering and problem-solving depending on the situation and their level in the organization.
Read more about management theory
brainly.com/question/15557968
#SPJ1
A plant asset cost ₤320,000 and is estimated to have a ₤40,000 residual value at the end of its 8-year useful life. The annual depreciation expense recorded for the third year using the double-declining-balance method would be？
Depreciation is the process of allocating the price of a plant asset to expense in the accounting periods benefiting from its use.
How is the whole depreciation of a plant asset calculated?Determine the value of the asset. Subtract the estimated salvage price of the asset from the cost of the asset to get the whole depreciable amount. Determine the beneficial lifestyles of the asset. Divide the sum of step (2) by using the wide variety arrived at in step (3) to get the annual depreciation amount.
Depreciation is the technique of allocating to expense the cost of a plant asset over its beneficial (service) existence in a rational and systematic manner. Such cost allocation is designed to desirable in shape prices with revenues.
Learn more about Depreciation here:
https://brainly.com/question/28108679#SPJ1How would one perform a reconciliation of the petty cash journal?
OA. Take the amount spent from the fund, minus the current cash in
the fund, and subtract it from the established petty cash fund.
B. Take the amount spent from the fund, plus the current cash in the
fund, and make sure it equals the established petty cash fund.
C. Take the amount spent from the fund, plus the current cash in the
fund, and make sure it is more than the established petty cash
fund.
D. Take the amount spent from the fund, minus the current cash in
the fund, and add it to the established petty cash fund.
Answer:
B. Take the amount spent from the fund, plus the current cash in the fund, and make sure it equals the established petty cash fund. This process ensures that all expenses made from the petty cash fund are properly recorded and accounted for, and that the amount of cash in the fund matches the established amount. Any discrepancies should be investigated and reconciled.
Summer wants to become a market research analyst. Which course would it make the MOST sense for her to take to help her prepare for this career?
A.
statistics
B.
fine arts
C.
computer programming
D.
communication
According to the question statistics make the most sense for her to take to help her prepare for this career.
What is career?A career is a person's journey through learning, work and other aspects of life. It is a way of defining one's life, one's path and identity. It involves setting goals, taking risks, learning new skills, making decisions, and working hard to achieve those goals. A career is something that a person builds over time, and it is often a reflection of their interests, values and goals. It is a way of finding purpose and meaning in life. It is also a way of providing financial stability and security. Career planning involves assessing one's skills and interests, exploring available opportunities, and developing a plan to achieve one's goals. It also involves making decisions about education, training, and job searches. A successful career is built on hard work, dedication, and commitment. It is also built on self-awareness, self-reflection, and the willingness to take risks and make tough decisions.
To learn more about career
https://brainly.com/question/30057005
#SPJ1
Two firms, Boomburgs and ABC X-Plode, both sell the same fireworks bundle. If they sell their fireworks at the manufacturer's suggested retail price (MSRP), they both sell 100 units a day. Each pays $10 per unit sold to the wholesaler in order to stock its shelves.
If either firm sells below MSRP while the other sells at MSRP, the firm with the lower price sells 175 units a day and the firm charging MSRP sells only 50.
If both firms sell below MSRP, then each firm sells 125 units a day
If MSRP is $20 and the below MSRP price is $15, calculate the following payoffs:
Profit for ABC X-Plode when both firms charge MSRP: $____
Profit for ABC X-Plode when it charges MSRP but Boomburgs charges below MSRP: $___
Profit for ABC X-Plode when it charges below MSRP but Boomburgs charges MSRP: $___
Profit for ABC X-Plode when both firms charge below MSRP: $___
To calculate the profits for ABC X-Plode, we need to first determine the number of units sold by the firm under each scenario and then subtract the costs and fees associated with selling those units. Here are the calculations:
When both firms charge MSRP, each firm sells 100 units a day. So, ABC X-Plode sells 100 units a day at a price of $20 per unit. The revenue generated per day is:
Revenue = Price x Quantity = $20 x 100 = $2,000
The cost of each unit sold is $10, so the total cost of 100 units is:
Cost = $10 x 100 = $1,000
Therefore, the profit for ABC X-Plode when both firms charge MSRP is:
Profit = Revenue - Cost = $2,000 - $1,000 = $1,000
When ABC X-Plode charges MSRP but Boomburgs charges below MSRP, ABC X-Plode sells 50 units a day at a price of $20 per unit. The revenue generated per day is:
Revenue = Price x Quantity = $20 x 50 = $1,000
The cost of each unit sold is $10, so the total cost of 50 units is:
Cost = $10 x 50 = $500
Boomburgs sells 175 units a day at a price of $15 per unit. The revenue generated per day is:
Revenue = Price x Quantity = $15 x 175 = $2,625
The cost of each unit sold is $10, so the total cost of 175 units is:
Cost = $10 x 175 = $1,750
Therefore, the profit for ABC X-Plode when it charges MSRP but Boomburgs charges below MSRP is:
Profit = Revenue - Cost = $1,000 - $500 = $500
When ABC X-Plode charges below MSRP but Boomburgs charges MSRP, ABC X-Plode sells 125 units a day at a price of $15 per unit. The revenue generated per day is:
Revenue = Price x Quantity = $15 x 125 = $1,875
The cost of each unit sold is $10, so the total cost of 125 units is:
Cost = $10 x 125 = $1,250
Boomburgs sells 50 units a day at a price of $20 per unit. The revenue generated per day is:
Revenue = Price x Quantity = $20 x 50 = $1,000
The cost of each unit sold is $10, so the total cost of 50 units is:
Cost = $10 x 50 = $500
Therefore, the profit for ABC X-Plode when it charges below MSRP but Boomburgs charges MSRP is:
Profit = Revenue - Cost = $1,875 - $1,250 = $625
When both firms charge below MSRP, each firm sells 125 units a day. So, ABC X-Plode sells 125 units a day at a price of $15 per unit. The revenue generated per day is:
Revenue = Price x Quantity = $15 x 125 = $1,875
The cost of each unit sold is $10, so the total cost of 125 units is:
Cost = $10 x 125 = $1,250
Therefore, the profit for ABC X-Plode when both firms charge below MSRP is:
Profit = Revenue - Cost = $1,875 - $1,250 = $625
To learn more about revenue visit.
https://brainly.com/question/29567732
#SPJ1
Both socialism and communism are variations of
Answer:
both socialism and communism are variations of command economies
Both socialism and communism are variations of economic and political systems that advocate for collective ownership and control of resources and the means of production.
Socialism is an economic and political ideology advocating for collective ownership and democratic control of the means of production, aiming to reduce wealth inequalities and promote social welfare through government intervention and redistribution of resources.
Communism, on the other hand, is a more extreme form of socialism, envisioning a classless, stateless society where the means of production are owned collectively, and resources are distributed based on individual needs. It seeks to eliminate private property, establish a centrally planned economy, and achieve social equality through a revolutionary transition from capitalism.
Learn more about socialism here:
https://brainly.com/question/28218484
#SPJ6
Most probably, your complete question is this:
Both socialism and communism are variations of what?
Two teams have decided to sign new quarterbacks. Each issues a press release. Reporters and sports magazines run extensive blurbs about one of the quarterbacks, but there is little said about the other. Since neither was well-known before their signing, and they both come from similar backgrounds, which statement could BEST explain the difference in media coverage?
The difference in media coverage may be due to differences in public relations efforts or marketing strategies by the teams or the quarterbacks' agents.
The fact that neither quarterback was well-known before their signing and they come from similar backgrounds suggests that their talent or performance on the field is not the main factor driving the difference in media coverage. Rather, it is likely that one team or quarterback had a more effective public relations or marketing strategy that garnered more attention from the media.
This could include things like pre-signing interviews, social media campaigns, or targeted outreach to specific media outlets. Alternatively, the discrepancy could be due to differences in the teams' market sizes or fan bases, which could affect the amount of media attention each quarterback receives.
To learn more about marketing strategies, here
https://brainly.com/question/29376574
#SPJ1
Which of these situations are more likely to happen in a GOOD economy?
A) Carlos was able to finish a design bootcamp and interview at many companies until he fines the job he likes best
B) Thrills Park delays building the new roller coaster until they can get a bank loan
C) Phyllis' Coffee, a new business, isn't able to innovate their coffee making process because money is tight
D) Laila is settling for a job that she doesn't want but she needs the money and there aren't any other options
Answer:
A) Carlos was able to finish a design bootcamp and interview at many companies until he fines the job he likes best
Explanation:
A) Carlos was able to finish a design bootcamp and interview at many companies until he finds the job he likes best is more likely to happen in a GOOD economy. In a good economy, there are more job opportunities available, and companies are more likely to invest in hiring new employees with the right skill sets.
B) Thrills Park delays building the new roller coaster until they can get a bank loan is less likely to happen in a good economy. In a good economy, banks are more willing to lend money for new projects, and businesses are more likely to invest in new ventures.
C) Phyllis' Coffee, a new business, isn't able to innovate their coffee making process because money is tight is less likely to happen in a good economy. In a good economy, there is more investment and innovation, and businesses are more likely to have the financial resources to invest in new technologies and processes.
D) Laila is settling for a job that she doesn't want but she needs the money and there aren't any other options is less likely to happen in a good economy. In a good economy, there are more job opportunities available, and workers are more likely to be able to find jobs that match their skills and preferences.
Hope this helps
In a good economy, situations like finding preferred job options, obtaining loans for business expansion, and having resources for innovation in new businesses are more likely.
Explanation:In a good economy, the situations that are more likely to happen include:
Carlos was able to finish a design bootcamp and interview at many companies until he finds the job he likes best: In a good economy, there are more job opportunities available, allowing Carlos to have multiple options and choose the job that suits his preferences.Thrills Park delays building the new roller coaster until they can get a bank loan: In a good economy, banks are more willing to lend money, making it easier for businesses like Thrills Park to obtain loans for expansion projects.Phyllis' Coffee, a new business, isn't able to innovate their coffee making process because money is tight: In a good economy, businesses have more financial resources to invest in research and development, enabling them to innovate and improve their processes. Hence, in a good economy, it is less likely for businesses to face financial constraints like Phyllis' Coffee.On the other hand, Laila settling for a job that she doesn't want due to lack of options and needing the money is more likely to occur in a weak economy where job opportunities are scarce and people may have to accept lesser desirable jobs for financial stability.
Learn more about Good economy situations here:https://brainly.com/question/33048356
Consider an economy with the following
C = 400+ 0.6(Y-T)
1 = 400-40r
T= 200, G = 200
(M/P)
d=Y-80r
M = 1600, P = 4
a. Graph the IS curve for the real interest rate ranging from 6 to 12.
b. Graph the LM curve for the real interest rate ranging from 6 to 12.
c. Find the equilibrium interest rate and the income level
d. Suppose government spending increases from 200 to 400. How much does the IS curve
shifts? Find the new equilibrium values for interest rate and income.
e. Suppose money supply decreases from 1600 to 1200. How much the LM curve shifts?
Find the new equilibrium values for interest rate and income.
f. With the initial values of monetary and fiscal values suppose P goes down from 4 to 2.
What happens in this economy? Find the new equilibrium values for interest rate and
income.
The market interest rate, sometimes referred to as the equilibrium interest rate, is the interest rate at which an economy's supply and demand for capital are equal.
What is the condition of equilibrium?When all external forces (including moments) acting on an item are balanced, the object is said to be in equilibrium in a reference coordinate system. Thus, all external moments and forces acting on this object result in zero as a net effect.
In other words, it is the interest rate at which the amount of money that borrowers seek and the amount of money that lenders supply are equal. The market is in equilibrium at this rate since there is neither a scarcity nor a surplus of money. The interaction of a number of variables, such as the level of economic activity, inflation, monetary policy, and the supply and demand for credit, leads to the equilibrium interest rate.
Learn more about equilibrium here:
https://brainly.com/question/30807709
#SPJ2
Under an accrual accounting system, an expense is recognized when
A. a good or service is paid for
• B. a good or service is used or sold
• C. a good or service is delivered
D. a good or service is first ordered
Under an accrual accounting system, an expense is recognized when B. a good or service is used or sold.
What is Accrued?An accrued expense is the expense that needs to be recorded as the service or good is consumed by the company but the expense is not yet paid by the company, on the other hand an Accrued Income is the income that the income is earned but it is not yet received.
These income and expenses are recorded accordingly in the accrual accounting system and when they are paid or received the double entry is made accordingly.
Learn more about Accrued at https://brainly.com/question/27369870
#SPJ1
You are planning to do a restaurant business . There are different form of business Sole Trader/ Partnership/ Company. Which form of business is best for you and why? Justify your answer based on logic.
If you are planning to start a restaurant business, it is best to opt for a partnership business.
Since you are starting something new, it is always better to opt for a partnership where all the members are liable for any risks or losses that may arise. Each member can contribute their own skillsets to the business which will help the restaurant flourish. It will also help to increase the capital and resources of the business as there are multiple owners who will contribute in the working of the organisation.
If you are planning to start a restaurant business, it is best to opt for a partnership business.
Since you are starting something new, it is always better to opt for a partnership where all the members are liable for any risks or losses that may arise. Each member can contribute their own skillsets to the business which will help the restaurant flourish. It will also help to increase the capital and resources of the business as there are multiple owners who will contribute in the working of the organisation.
A company previously issued $2,000,000, 10% bonds, receiving a $120,000 premium. On the current year's interest date, after the bond interest was paid and after
40% of the total premium had been amortized, the company calls the bonds at $1,960,000. Prepare the journal entry to record the retirement of these bonds on
January 1 of the current year.
Gain on retirement of bonds = Carrying value of bonds- Cash paid to retire bonds
= $2,072,000-$1,960,000
= $112,000
How to solvePar value of bonds = $2,000,000
Premium on bonds payable = $120,000
Bond premium amortized = Premium on bonds payable x 40%
= $120,000 x 40%
= $48,000
Unamortized bond premium = Premium on bonds payable - Bond premium amortized
= $120,000-$48,000
= $72,000
Carrying value of bonds = Par value of bonds+ Unamortized bond premium
= $2,000,000+$72,000
= $2,072,000
Cash paid to retire bonds= $1,960,000
Gain on retirement of bonds = Carrying value of bonds- Cash paid to retire bonds
= $2,072,000-$1,960,000
= $112,000
Date General Journal Debit Credit
January 1 Bonds payable $2,000,000
Premium on bonds payable $72,000
Gain on retirement of bonds $112,000
Cash $1,960,000
( To record retirement of bonds)
Read more about journal entries here:
https://brainly.com/question/14279491
#SPJ1
Complete the table to calculate the interest amounts on December 31st and April 30th and use those calculated values to prepare your journal entries.
A journal entry is a record of a financial transaction that shows the accounts affected, the amount of the transaction, and the direction of the transaction (debit or credit). Journal entries are used to record all types of transactions, such as sales, purchases, payments, receipts, and adjustments.
Interest Amounts:
Total Through Maturity = Principal x Rate x Time
= $6,000 x 8% x 180/360
= $240
November 1 Through December 31 = Principal x Rate x Time
= $6,000 x 8% x 60/360
= $80
January 1 Through April 30 = Principal x Rate x Time
= $6,000 x 8% x 120/360
= $160
General Journal:
December 31:
Interest Receivable $80
Interest Revenue $80
April 30:
Cash $6,240
Notes Receivable $6,000
Interest Receivable $160
Interest Revenue $80
To know more about journal entry . here
https://brainly.com/question/28390337
#SPJ1
Subject: Economics
State the meanings and differences for the following term: “Foreign Exchange Rate”
Answer:
Foreign exchange rate refers to the value of one currency expressed in terms of another currency. It is the rate at which one currency can be exchanged for another currency. For example, if the exchange rate between the US dollar and the euro is 1 USD = 0.85 EUR, it means that one US dollar can be exchanged for 0.85 euros.
There are different types of foreign exchange rates, including spot exchange rate, forward exchange rate, and real exchange rate. The spot exchange rate is the rate at which currencies are traded for immediate delivery. The forward exchange rate is the rate at which currencies are traded for delivery at a future date. The real exchange rate is the nominal exchange rate adjusted for inflation.
Foreign exchange rates have a significant impact on international trade and investment. Changes in exchange rates can affect the competitiveness of countries' exports and imports, as well as the profitability of companies operating in different currencies. Additionally, fluctuations in exchange rates can impact international capital flows, affecting investment decisions and economic growth.
Julie Leung, an employee of the Import Company, worked 172 hours during the month of January 2021. Her pay rate is $12.50 per hour, and her wages are subject to no deductions other than income taxes, EI, and CPP. The overtime premium is 50% and is applicable to any time greater than 160 hours per month.
Calculate her regular pay, overtime premium pay, gross pay, total deductions, and net pay. Use the below tables to determine the EI, CPP and income tax deductions (assume claim code 1). (Round the final answers to 2 decimal places.)
Julie Leung is paid $2150.00 per week in regular pay, $225.00 per hour for overtime, $2375.00 per week in gross pay, $407.10 per week in total deductions, and $1967.90 per week in net pay.
How do deductions work?Deductions are sums taken out of a person's income, typically for tax purposes or other legally required uses, including contributions to the Canada Pension Plan (CPP) and Employment Insurance (EI). Contributions made voluntarily to retirement programmes, health insurance, or other benefits provided by an employer can also be deducted. Depending on a person's income level, the jurisdiction they reside in, and other circumstances, different deductions may be made from their income.
Julie Leung's normal pay and overtime premium pay must both be taken into account when determining her compensation:
Regular Pay:
$2150.00 for 172 regular hours at $12.50 an hour.
Overtime Premium Pay:
12 overtime hours x $12.50 per hour x 1.5 = $225.00
By combining her normal pay and overtime premium pay, we can now determine her gross compensation:
Gross Pay:
$2150.00 + $225.00 = $2375.00
The next step is to figure out her income tax, EI, and CPP deductions. We'll make use of the tables offered and proceed with claim code 1:
Tax deductions for income:
We discover that Julie's income tax deductions total $240.10 using the federal tax table.
CPP Deductions:
The CPP contribution rate for 2021 is 5.45% of the maximum qualifying earnings of $61,600. Julie's CPP deduction is computed as follows because her gross pay is less than the maximum: $2375.00 x 5.45% = $129.49
EI deductions:
EI deductions: Due to Julie's lower than maximum gross pay, her EI deduction is computed as follows: $2375.00 x 1.58% = $37.51.
Now that we've added up her income tax, CPP, and EI deductions, we can determine her total deductions:
Total Deductions:
$240.10 + $129.49 + $37.51 = $407.10
By deducting all of Julie's deductions from her gross compensation, we can finally determine her net pay:
Net Pay:
$2375.00 - $407.10 = $1967.90
As a result, Julie Leung's gross pay is $2375.00, her total deductions are $407.10, and her net pay is $1967.90. Her regular pay is $2150.00, her overtime premium pay is $225.00, and her gross pay is $2375.00.
To learn more about deductions visit.
https://brainly.com/question/3158031
#SPJ1
Equipment brought at cost of $25,000 is being considered for depreciation accounting using
either the SOYD (sum-of-years-digit method) or SL (straight-line) method. If this asset will be depreciated over a period of 5 years with a salvage value of $5,000, determine the percentage increase in depreciation charges in year 2 for the SOYD method over the SL method.
A. 10%
B. 33%
C. 0%
D. -33.33%
The correct answer for the percentage is option B. 33%.
How did we get the value?To calculate the depreciation charges using the straight-line method, we first need to determine the depreciable base, which is the cost of the equipment minus the salvage value. So, the depreciable base is:
Depreciable base = $25,000 - $5,000 = $20,000
Using the straight-line method, the depreciation expense for each year would be:
Depreciation expense = Depreciable base / Number of years
Depreciation expense = $20,000 / 5 = $4,000 per year
So, in year 2, the depreciation expense using the straight-line method would be $4,000.
Now, let's calculate the depreciation charges using the SOYD method. To do this, we need to calculate the sum of the years' digits for a 5-year period:
Sum of the years' digits = 1 + 2 + 3 + 4 + 5 = 15
The percentage of the depreciable base that will be depreciated in year n using the SOYD method is:
Percentage of depreciable base in year n = (Number of years left in useful life / Sum of the years' digits) * 100
So, the percentage of the depreciable base that will be depreciated in year 2 is:
Percentage of depreciable base in year 2 = (4 / 15) * 100 = 26.67%
Therefore, the depreciation expense in year 2 using the SOYD method would be:
Depreciation expense in year 2 = Depreciable base * Percentage of depreciable base in year 2
Depreciation expense in year 2 = $20,000 * 26.67% = $5,334
The percentage increase in depreciation charges in year 2 for the SOYD method over the SL method is:
Percentage increase = ((SOYD method depreciation expense in year 2 - SL method depreciation expense in year 2) / SL method depreciation expense in year 2) * 100
Percentage increase = (($5,334 - $4,000) / $4,000) * 100 = 33.35%
Therefore, the correct answer is B. 33%.
learn more about depreciation charges: https://brainly.com/question/28108679
#SPJ1
Which of the following is true of a good benefits plan?
a. It is generally inexpensive to buy and administer.
b. It will stimulate higher performance levels.
c. It will encourage people to join an organization.
d. It will include redundancies in coverage.
e. It allows for smaller pay increases.
Answer:
C
Explanation:
The following is true of a good benefits plan it will encourage people to join an organization. The correct option is c.
What are the benefits of motivated employees?There are several benefits to having a motivated workforce, including lower absenteeism rates, employee retention rates, low staff turnover rates, improved management-worker relationships, higher worker performance, improved quality, and enhanced customer service.
A good benefits plan is an essential part of an organization's compensation strategy. It can be used to attract and retain talented employees and can be a competitive advantage in the job market. A well-designed benefits plan can also help to improve employee morale, motivation, and job satisfaction. While it may require a significant investment, a good benefits plan can provide a good return on investment for the organization.
Thus, the ideal selection is option c.
Learn more about motivated employees here:
https://brainly.com/question/30290742
#SPJ2
Omar (single) is a 50 percent owner in Cougar LLC (taxed as a partnership). Omar works half time for Cougar and receives guaranteed payment of $50,000. Cougar LLC reported $450,000 of business income for the year (2022). Before considering his 50 percent business income allocation from Cougar and the self-employment tax deduction (if any), Omar's adjusted gross income is $210,000 (includes $50,000 guaranteed payment from Cougar and $160,000 salary from a different employer). Omar reports itemized deductions of $40,000. Answer the following questions for Omar. Note: Leave no answer blank. Enter zero if applicable. Round your intermediate calculations and final answers to the nearest whole dollar.
b. What would be Omar's self-employment tax liability if he didn't receive any salary.
Note that Omar's self-employment tax liability would be $27,104 if he didn't receive any salary.
What is the explanation for the above response?To calculate Omar's self-employment tax liability if he didn't receive any salary, we first need to calculate his net earnings from self-employment.
Net earnings from self-employment = Business income - Guaranteed payment - Deduction for one-half of self-employment tax
Net earnings from self-employment = $450,000 - $50,000 - ($450,000 × 0.9235 × 0.153 ÷ 2) = $177,186
Now, we can calculate Omar's self-employment tax liability:
Self-employment tax = Net earnings from self-employment × 0.153
Self-employment tax = $177,186 × 0.153 = $27,104
Therefore, Omar's self-employment tax liability would be $27,104 if he didn't receive any salary.
Learn more about employment tax liability at:
https://brainly.com/question/31290655
#SPJ1
Indicate by choosing the correct option whether the following statement is true or false: At the end of the financial year, the loss calculated in the profit or loss account in the general ledger is to transferred to the capital account by debiting the profit or loss account and crediting the capital account. Select one: True False