Business

The underlying principle of the temporal method is Group of answer choices all balance sheet accounts are translated at the current exchange rate, except stockholder equity. monetary balance sheet accounts should be translated at the spot rate; nonmonetary accounts are translated at the historical rate in effect when the account was first recorded. monetary accounts are translated at the current exchange rate; other accounts are translated at the current exchange rate if they are carried on the books at current value; items carried at historical cost are translated at historic exchange rates. assets and liabilities should be translated based on their maturity.
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During January, Luxury Cruise Lines incurs employee salaries of $2.4 million. Withholdings in January are $183,600 for the employee portion of FICA, $360,000 for federal income tax, $150,000 for state income tax, and $24,000 for the employee portion of health insurance (payable to Blue Cross Blue Shield). The company incurs an additional $148,800 for federal and state unemployment tax and $72,000 for the employer portion of health insurance.Record the employee salary expense, withholdings, and salaries payable. This is what i have so far please help!Debit 2MillionCredit FICA 153,000Credit Income Tax 425000Credit Account payable ????Credit Salaries Payable ????
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Newspapers in the nation of Hasalot report a significant increase in money supply during the past few months. This information indicates that Hasalot may experience a serious recession in the near future.t or f
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Which of the followings are true or false.a. Under regional trade agreements, several countries eliminate tariffs among themselves and lower tariffs against all other countries. b. Regional trade agreements contradict GATTs most favored nation principle. c. Each NAFTA member country keeps its own tariffs with the countries outside NAFTA. d. A good imported into Mexico from China will not be granted duty-free access to the U.S. market if no value is added to this good in Mexico. e. Rules of origin specify the types of goods that can be shipped duty-free within a free trade area. f. Rules of origin specify the types of goods that can be shipped duty-free within a customs union.
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Sunland Company purchased a new machine on October 1, 2022, at a cost of $80,360. The company estimated that the machine has a salvage value of $7,910. The machine is expected to be used for 70,800 working hours during its 7-year life. Compute the depreciation expense under the straight-line method for 2022 and 2023, assuming a December 31 year-end.
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In the current year, Jeanette, an individual in the 24% marginal tax bracket, recognized a $20,000 long-term capital gain. Also in the current year, Parrot Corporation, a calendar year C corporation, recognized a $20,000 long-term capital gain. Neither taxpayer had any other property transactions in the year. What tax rates are applicable to these capital gains
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Stretch goals are the Multiple Choice targets that are exceptionally demanding and novel. set of goals whose primary focus is to protect organizations from being sustainable. targets that merely exhort employees in general terms to improve performance and start doing their best. goals that conflict with people's personal values and interests. goals that are high enough to inspire better performance but at the same time are always unattainable.
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The price of money is known as __________. interest inflation insanity bond
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Returns Outwards is the same as purchases returns.2 pointsTrueFalseWhich of the followin
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Adkins Bakery uses the modified half-month convention to calculate depreciation expense in the year an asset is purchased or sold. Adkins has a calendar year accounting period and uses the straight-line method to compute depreciation expense. On March 17, 2018, Adkins acquired equipment at a cost of $220,000. The equipment has a residual value of $43,000 and an estimated useful life of 4 years. What amount of depreciation expense will be recorded for the year ending December 31, 2018
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Raspberry Company's actuary has computed its prior service cost to be $8,000,000. Raspberry amortizes the prior service cost by the straight-line method over the remaining 20-year service life of its active employees. During the current year, Raspberry also recognizes service cost of $560,000 and interest cost of $100,000. At the beginning of the year, the plan assets were $1,500,000, and the company expects to earn 10% on its plan assets. Compute Raspberry's pension expense for the current year.
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The OYB Company is performing an annual evaluation of two of its suppliers: X Company and the Y Company. You have collected the following information: Performance Criteria X Company Score Y Company Score Weight Product Availability 75 80 0.25 Responsive 75 80 0.10 On-time delivery 80 85 0.25 % of Delivery Correct/No Damage 90 95 0.15 Communication of Delays 95 65 0.15 Business (Info Sharing/Attitudes) 85 75 0.10 Total Score 82.5 80.75 Which statements are true? Group of answer choices If OYB designates scores of 70-90 as "Certified: meeting performance standards", both companies are "Certified" suppliers. X Company has a higher evaluation. Y Company moves to the "Preferred" category since the most important parameters, on-time delivery and product availability, are higher with Y Company. b and c only a and b only
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Financial analysts have estimated the returns on shares of the Goldday Corporation and the overall market portfolio under two economic states nature as follows. For Goldday the state dependent returns are -0.04 in recession, and 0.10 in an economic boom. For the market the state dependent returns are -0.06 in recession,and 0.14 in boom. The analyst estimates that the probability of a recession is 0.50 while the probability of an economic boom is 0.50. Compute the covariance between Goldday and the market.'
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Which of the following principles are important to keep in mind when establishing a forecasting process within your organization: A) Convergence: Allowing individuals within your organization to discuss and brainstorm together as a group before submitting their forecasts to ensure that they have as much relevant information as possible. B) Incentives: Ensuring that individuals are incentivized to report their forecast accurately. C) Diversity: Invite a diverse set of individuals from across the company to participate in the forecasting process.
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Contribution Income Statement and Operating Leverage Willamette Valley Fruit Company started as a small cannery-style operation in 1999. The company now processes, on average, 20 million pounds of berries each year. Flash-frozen berries are sold in 30 pound packs to retailers. Assume 650,000 packs were sold for $75 each last year. Variable costs were $42 per pack and fixed costs totaled $14,250,000.Enjoy the berry best blueberries in the world!" The selling price is $90 per crate, variable costs are $80 per crate, and fixed costs are $280,000 per year. In the year 2017, Stateline Berry Farm sold 50,000 crates.Prepare a contribution income statement for the year ended December 31, 2017. HINT: Use a negative sign with both "costs" answers.STATELINE BERRY FARMContribution Income StatementFor the Year Ended December 31, 2017Sales Variable costs Contribution margin Fixed costs Net income
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Suppose all firms follow similar financing policies, face similar risks, have equal access to capital, and operate in competitive product and capital markets. However, firms face different operating conditions because, for example, the grocery store industry is different from the airline industry. Under these conditions, firms with high profit margins will tend to have high asset turnover ratios, and firms with low profit margins will tend to have low turnover ratios.a. Trueb. False
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Arizona Desert Homes (ADH) constructed a new subdivision during 2020 and 2021 under contract with Cactus Development Co. Relevant data are summarized below: Contract amount $ 3,000,000 Cost: 2020 1,200,000 2021 600,000 Gross profit: 2020 800,000 2021 400,000 Contract billings: 2020 1,500,000 2021 1,500,000 ADH recognizes revenue over time with respect to these contracts. What would be the journal entry made in 2020 to record revenue
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Dana Co. had a deferred tax liability balance due to a temporary difference at the beginning of 2019 related to $900,000 of excess depreciation. In December of 2019, a new income tax act is signed into law that lowers the corporate rate from 40% to 30%, effective January 1, 2021. If taxable amounts related to the temporary difference are scheduled to be reversed by $450,000 for both 2020 and 2021, Dana should increase or decrease deferred tax liability by what amount
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11) Domergue Corp. currently has an EPS of $3.76, and the benchmark PE for the company is 21. Earnings are expected to grow at 5.1 percent per year. (4 pts.) a) What is your estimate of the current stock price? b) What is the target stock price in one year? c) Assuming the company pays no dividends, what is the implied return on the companys stock over the next year?
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What does the CVS Health Corporate Integrity agreement reinforce?
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Under the perpetual inventory system, Village Fabrics purchased 25 yards of blue plaid fabric at a cost of $2.00 per yard on June 1; on June 3, 22 yards were sold of the blue plaid; a new shipment came in with 25 more yards at a cost of $2.25 per yard on June 5; on June 15, 17 yards of the blue plaid fabric were sold; Village Fabrics purchased another 25-yard bolt at a cost of $2.50 per yard on June 19; on June 27, 6 more yards had been sold. No inventory was on hand at the beginning of the month. What is the cost of merchandise sold and cost of inventory under the FIFO method for June
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at a higher price the quantity supplied of a product typically ishigher or lower
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helppppp due in 1 minute!!!!A bush pilot was asked to fly the perimeter of a state park to look for black bears. The state park is a rectangular shape 20 miles wide and 32 miles long. What is the perimeter of the state park? A 52 miles B 104 miles C 320 miles D 640 miles
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Lewis Co. reports the following results for May. Prepare a flexible budget report showing variances between budgeted and actual results. Budgeted Actual Sales 950 per unit $1,470,000Variable expenses 380 per unit 588,000Fixed expenses (total) $144,500 135000Units produced and sold 1,530 1,330 List variable and fixed expenses separately.
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