Item18 Time Remaining 22 minutes 25 seconds00:22:25 eBookItem 18Item 18 Time Remaining 22 minutes 25 seconds00:22:25 Moore Company purchased an item for inventory that cost $20 per unit and was priced to sell at $34. It was determined that the cost to sell is $22 per unit. Using the lower of cost or net realizable value rule, what amount should b
Answers
Answer:
$12
Explanation:
Moore Company purchased an item for inventory that cost $20 per unit and was priced to sell at $34. It was determined that the cost to sell is $22 per unit. Using the lower of cost or net realizable value rule, what amount should be?
Cost per Unit = $20
Sale per unit = $34
Disposal cost = $22
Net realizable value per unit = Sale per unit - Disposal cost
Net realizable value per unit = $34 - $22
Net realizable value per unit = $12
Using the LCM method, $12 should be reported on the balance sheet for inventory.
Related Questions
One billion hours of labor are available for making products in Mandovia, and 2 billion hours of labor are available for making products in Ducennia. In a no-trade world, let’s assume that half the labor in each country gets used to make each product. Calculate the output of rotids and taurons, rounding to one decimal place.
Answers
Answer:
Mandovia
Rotid
Mandovia total labor hours is 1 billion which is to be divided equally to make one product so 500 million hours per product. It takes 50 hours to make one rotid so with 500 million;
= 500,000,000/50
= 10,000,000 rotids
Taurons
= 500,000,000/100
= 5,000,000 taurons
Ducennia
Rotids
Ducennia total labor hours is 2 billion which is to be divided equally to make one product so 1 billion hours per product. It takes 150 hours to make one rotid so with 1 billion hours will be;
= 1,000,000,000/150
= 6,666,666.7
= 6.7 million rotids
Taurons
= 1,000,000,000/20
= 50,000,000 taurons
A clothing eCommerce comapny has an Average Order Value of $65. It costs the company $35 to produce the clothes in the average order and $15 to ship it to the customer. What is the Average Order's Gross Profit? * $65 $50 $30 $15
Previous question
Answers
The average order's gross profit for the ecommerce company is $15. The Option D is correct.
What is the calculation for the gross profit?To calculate the average order's gross profit, we will subtract the total cost of producing and shipping the clothes from the revenue generated by the order.
Revenue generated by the order is $65.
The total cost of producing and shipping the clothes is:
= $35 + $15
= $50.
The gross profit of the average order is:
= $65 - $50
= $15.
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How can the government drive their policies using income tax?
Answers
Answer: The government can use income tax to drive their policies by (1) encouraging behaviors, (2) discouraging behaviors, and (3) distributing money and wealth.
Explanation: The government can use income tax to drive their policies in numerous ways, the most outstanding being:
(1) Encouraging behaviorsThe government can drive their policies by using tax deductions as an incentive for those who comply with organized policies. An example of incentivizing tax deductions would be the offering of tax breaks to people who use electric-powered vehicles as opposed to gasoline-powered vehicles, which promotes the use of a less polluting form of energy.
(2) Discouraging BehaviorsThe government also can drive their policies by imposing tax penalties on those who engage in activities against what the policy goals strive for. An example of this would be the imposition of tax penalties on people who vandalize or sell drugs because enforcing these penalties dissuades one from doing what they should not; it also promotes social health in the sense that people will have less of a malicious intent with their actions.
(3) Distributing Money and WealthThe government can drive their policies using income tax through the idea of imposing higher tax rates on higher earners because this allows the government to put more money into social programs that benefit people who make less money.
The government can drive their policies by using income tax in numerous ways. It always is important to ensure that these policies are effective and do not affect one more than the other. Impulsive decisions with income tax can emerge conflict and conspiracies, so it is significant that equitability is present.
The government uses income tax to influence economic activity and drive its policies. This is achieved by adjusting tax rates and using tax incentives or disincentives to promote or deter specific activities.
Explanation:The government uses income tax as a tool to influence economic activity and drive policy objectives. For instance, the government can change the tax rates or the way tax is calculated to promote certain activities or deter others. Lowering income tax rates can stimulate economic growth by placing more disposable income in the hands of consumers, resulting in increased spending and investment. In contrast, if the government needs to curb consumption, it can raise tax rates, reducing disposable income levels. Examples of policy maneuvers involving tax include providing tax relief or incentives for industries or activities the government wishes to promote, such as renewable energy.
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The following balances were extracted from the books of VE Enterprise on 31 December 2021.
Particular RM RM
Capital 50,000
Motor vehicles 90,000
Fixtures & fittings 48,500
Inventory as at 1 January 2021 32,200
Allowance for doubtful debts 500
Accumulated depreciations as at 1 January 2021:
Motor vehicles 16,000
Fixtures & fittings 10,400
3% fixed deposit 30,000
4% bank loan 50,000
Sales 199,070
Purchases 73,500
Sales returns 2,050
Purchases returns 2,120
Discount allowed 2,550
Discount received 2,830
Account receivables 37,700
Account payables 48,650
Carriage inwards 3,570
Interest received 450
Commission received 2,600
Salaries 16,100
Electricity bills 5,400
Custom duty on purchases 3,000
Insurances 450
Maintenance expenses 3,300
Drawing 2,300
Cash in hand 6,800
Cash at bank 25,200
Additional information:
1. Inventory as at 31 December 2021 18,180
2. Depreciation for the year ended 31 December 2021 has yet to be provided as follows:
a. Fixtures & fittings: 10% using straight line method
b. Motor vehicles:15% using reducing balance method.
3. Electricity bills was paid in advanced by RM500. Meanwhile RM400 commission are not
received yet.
4. One of the customers Amri Sport Enterprise was declare bankrupt and unable to pay the
debt amount RM700
5. The provision for doubtful debts is to be adjusted to 5% based on remaining account
receivables
6. Salaries are accrued by RM140.
3
7. ‘Purchases’ include goods valued at RM1,040 that were withdrawn by Azwin for her own
personal use.
Required:
a) Prepare Income Statement for the year ended 31 December 2021
(15 marks)
b) Prepare Statement of Financial Position as at 31 December 2021
Answers
a. The Income Statement for the year ended 31 December 2021 is RM80,360.
b. The Statement of Financial Position as at 31 December 2021 is RM206,645.
a) Income Statement for the year ended 31 December 2021:
Sales: RM199,070
Less: Sales returns: RM2,050
Net Sales: RM197,020
Cost of Goods Sold:
Opening Inventory: RM32,200
Purchases: RM73,500
Less: Purchases returns: RM2,120
Add: Carriage inwards: RM3,570
Goods Available for Sale: RM107,150
Less: Closing Inventory: RM18,180
Cost of Goods Sold: RM88,970
Gross Profit: RM197,020 - RM88,970 = RM108,050
Operating Expenses:
Discount allowed: RM2,550
Salaries: RM16,100 + RM140 = RM16,240
Electricity bills: RM5,400 - RM500 = RM4,900
Custom duty on purchases: RM3,000
Insurances: RM450
Maintenance expenses: RM3,300
Total Operating Expenses: RM30,340
Net Profit before Non-operating Items:
Gross Profit - Operating Expenses: RM108,050 - RM30,340 = RM77,710
Non-operating Items:
Interest received: RM450
Commission received: RM2,600 - RM400 = RM2,200
Total Non-operating Items: RM2,650
Net Profit before Tax:
Net Profit before Non-operating Items + Total Non-operating Items: RM77,710 + RM2,650 = RM80,360
b) Statement of Financial Position as at 31 December 2021:
Assets:
Non-current Assets:
Motor vehicles: RM90,000 - (RM90,000 * 15%) = RM76,500
Fixtures & fittings: RM48,500 - (RM48,500 * 10%) = RM43,650
Total Non-current Assets: RM120,150
Current Assets:
Inventory: RM18,180
Account receivables: RM37,700 - (RM37,700 * 5%) - RM700 = RM35,815
Prepaid electricity bills: RM500
Cash in hand: RM6,800
Cash at bank: RM25,200
Total Current Assets: RM86,495
Total Assets: RM206,645
Liabilities and Equity:
Equity:
Capital: RM50,000
Retained Earnings: RM80,360
Total Equity: RM130,360
Current Liabilities:
Account payables: RM48,650
Bank loan: RM50,000
Total Current Liabilities: RM98,650
Total Liabilities and Equity: RM206,645
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The cumulative feature of preferred stock
A) limits the amount of cumulative dividends to the par value of the preferred stock.
B) requires that dividends not paid in any year must be made up in a later year before dividends are distributed to common shareholders.
C) means that the shareholder can accumulate preferred stock until it is equal to the par value of common stock at which time it can be converted into common stock.
D) enables a preferred stockholder to accumulate dividends until they equal the par value of the stock and receive the stock in place of the cash dividends.
Answers
Answer:
B) requires that dividends not paid in any year must be made up in a later year before dividends are distributed to common shareholders.
Explanation:
In cumulative feature of preferred stock, the preference shareholders have priority of shareholders over common shareholders in the year subsequent to the year in which the dividend is not distributed. All other options given in the question are incorrect.
ABC Company has elected to adopt the dollar-value LIFO inventory method when the inventory is valued at $125,000. The adoption takes place as of January 1, 20X1 when the entire inventory represents a single pool. ABC Company determined that the inventory at December 31, 20X1 was $144,375 at current year cost and $131,250 at base year cost using a relevant price index of 1.10. The inventory at December 31, 20X1 under dollar value LIFO is
Answers
Answer:
Explanation:
K
what are the factors which cause change state of matter
Answers
Answer:
Temperature and pressure are the two factors which are responsible for change in state of matter.
Economies of scope A. are cost reductions that flow from cost-saving strategic fits along the value chains of related businesses in the business lineup of a multibusiness corporation. B. arise only from strategic fit relationships in the production portions of the value chains of sister businesses. C. are more associated with unrelated diversification than related diversification. D. are present whenever diversification satisfies the attractiveness test and the cost-of-entry test. E. arise mainly from strategic fit relationships in the distribution portions of the value chains of unrelated businesses.
Answers
Answer:
A. are cost reductions that flow from cost-saving strategic fits along the value chains of related businesses in the business lineup of a multibusiness corporation.
Explanation:
Economies of scope occur when a good is manufactured, the cost of manufacturing a related goods is reduced. It means that there would be reduction in the cost of production of a goods as a result of increase in variety of goods. It is a situation whereby the cost of producing two products is less compare to when that product is produce separately.
It should be noted that economy of scope are cost reductions that flow from cost-saving strategic fits along the value chains of related businesses in the business lineup of a multibusiness corporation.
q Conflict Consequences 2 Difference between critical and Creative thinking. 3. Positive Use & Teisure time 41m Portance & Self Identity Svalues associated with creative Thinking
Answers
Critical thinking involves analyzing and evaluating information, while creative thinking involves generating new ideas and solutions. Positive use of leisure time includes engaging in activities that promote personal well-being, learning, self-improvement, socializing, and exploring new experiences.
Difference between critical and creative thinking:
Critical thinking is a cognitive process that involves analyzing and evaluating information or arguments in a logical and systematic manner. It focuses on objective analysis, reasoning, and problem-solving. Critical thinking requires the ability to question assumptions, recognize biases, and assess evidence to form well-reasoned judgments or decisions.
On the other hand, creative thinking involves generating new ideas, insights, or solutions. It is a process of divergent thinking, breaking away from conventional thoughts and exploring alternative perspectives.
Creative thinking often involves combining different ideas, making connections, and thinking outside the box. It encourages imagination, flexibility, and the ability to embrace uncertainty.
While critical thinking aims to assess and evaluate existing information or arguments, creative thinking aims to generate new possibilities or approaches. Critical thinking seeks to analyze and deconstruct, while creative thinking seeks to synthesize and construct.
Positive use of leisure time:
Leisure time refers to the period when individuals are free from work or other obligations and can engage in activities of their choice. Positive use of leisure time involves engaging in activities that contribute to personal well-being, growth, and fulfillment. Here are some examples:
Pursuing hobbies and interests: Engaging in activities such as painting, playing a musical instrument, gardening, or sports can provide relaxation, personal enjoyment, and a sense of accomplishment.
Learning and self-improvement: Using leisure time to learn new skills, read books, take online courses, or engage in personal development activities can enhance knowledge, broaden perspectives, and foster personal growth.
Physical and mental well-being: Allocating leisure time for exercise, meditation, yoga, or other wellness activities promotes physical fitness, reduces stress, and enhances overall well-being.
Socializing and building relationships: Spending leisure time with family, friends, or participating in community activities helps foster social connections, build relationships, and strengthen support networks.
Exploring new experiences: Traveling, visiting museums, attending cultural events, or trying new cuisines broadens horizons, provides exposure to different cultures, and creates memorable experiences.
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Problem 9-52 Part-b (Static) b. $800 of interest on a short-term loan incurred in September and repaid in November. Half of the loan proceeds was used immediately to pay salaries and the other half was invested in municipal bonds until November After-tax cost
Answers
Answer:
After-tax cost $652
Explanation:
$652 = $800 [1 − (0.5 × 0.370)]. Half of the interest is not deductible because it was used to purchase tax-exempt securities.
practice setting goals for various aspects of your personal life such as academics career preparation family hobbie. set at least two short term goals and at least two Long term goals for each area for these goals that you have set write out plans for achieving those goals.think in terms of what you will have to do to accomplish each
Answers
Certainly, setting goals is an essential practice to achieve success and satisfaction in various aspects of personal life.
Academics:
Short-term goals:
Attend all classes and complete assignments on time.Improve my grade in a specific course by studying regularly. Plan to achieve short-term goals:
Create a daily study schedule and allocate time for reading, writing, and reviewing notes.Seek help from a tutor or professor for difficult concepts.
Long-term goals: Achieve a high GPA to qualify for graduate school. Get accepted into my desired graduate program. Plan to achieve long-term goals: Take challenging courses and attend workshops or seminars to improve academic skills.Research graduate programs and their admission requirements, and prepare for standardized tests if necessary.
Career Preparation:
Short-term goals: Update my resume and cover letter for job applications.Attend a networking event and meet new people in my industry. Plan to achieve short-term goals:Research the latest trends in resume and cover letter writing, and tailor them to specific job applications. Prepare a pitch and networking strategy in advance.
Long-term goals:
Secure a job in my preferred industry and position. Develop new skills and advance in my career.Plan to achieve long-term goals:Attend career fairs, conferences, and other industry events to network and learn about job opportunities.Take online courses or certifications to acquire new skills and knowledge.Seek mentorship or coaching from experienced professionals.
Family:
Short-term goals:Plan a weekend outing with my family.Call or video with a family member living in a different city or country.Plan to achieve short-term goals: Discuss with family members and decide on a fun activity that everyone can enjoy.Schedule a specific time for calling or video chatting, and set reminders if necessary.
Long-term goals:
Spend more quality time with family on a regular basis.Plan and save for a family vacation in the next year.Plan to achieve long-term goals:Create a family calendar or schedule to plan and prioritize events and activities.Set aside a specific amount of money each month for family vacations or other activities.
Hobbies:
Short-term goals:
Practice a new hobby for at least one hour each day.Learn a new technique or skill in my hobby.Plan to achieve short-term goals:Schedule a specific time each day for practicing or learning, and avoid distractions. Research online tutorials or courses, and follow step-by-step instructions.
Long-term goals:
Master a specific hobby and showcase my work publicly.Incorporate my hobby into my career or business.Plan to achieve long-term goals:Attend workshops or conferences to learn from experts and connect with like-minded individuals.Create a portfolio or online gallery to showcase my best work and promote my hobby.
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For an economy, operating outside the production possibilities frontier:
Answers
For operating outside the production possibilities frontier, the economy should not be possible with the present resources & technology.
The information related to the production possibilities frontier should be considered:
It represents the possible combinations of goods that are manufactured with the available resources.If the combinations are on the PPF so it is feasible & efficient.If the combination is not on the PPF i.e. outside so it can't be feasible.If the combination is inside on the PPF so it is feasible but not efficient.Therefore we can conclude that For operating outside the production possibilities frontier, the economy should not be possible with the present resources & technology.
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According to the above material, there exist large differences between economic growth rate using traditional expenditure approach and the satellite night-light data. How do you evaluate the night-light data method? and can you identify several reasons why there exists such differences?
Answers
The use of satellite night-light data as a method to evaluate economic growth has both strengths and limitations. Reasons for Differences between Traditional Expenditure Approach and Night-light Data: Informal Economy, Data Limitations, Urbanization Bias and Structural Changes.
Here is an evaluation of the night-light data method and several reasons for the differences observed between the traditional expenditure approach and the night-light data:
Evaluation of the Night-light Data Method:
Objective and Timely: Satellite night-light data provides an objective and timely measure of economic activity. Wide Coverage: Night-light data can cover large geographical areas, including remote and inaccessible regions. Granularity: The data can be analyzed at a fine-grained level, allowing for detailed spatial analysis of economic patterns. This can help identify pockets of growth and disparities within regions.Reasons for Differences between Traditional Expenditure Approach and Night-light Data:
Informal Economy: The traditional expenditure approach relies on official economic data, which may not fully capture the informal sector. Data Limitations: Night-light data has its limitations. It primarily measures economic activity related to lighting, which may not capture other dimensions of economic growth such as services or knowledge-based industries. Urbanization Bias: Night-light data tends to be more representative of urban areas with higher population density and greater access to electricity. Structural Changes: The traditional expenditure approach focuses on consumption and investment, while night-light data primarily captures the energy consumption associated with lighting.For such more question on economic:
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Neal Kim saw an advertisement for $50 off an all-in-one printer. All printers are marked down 20%. What is the regular selling price of a printer
Answers
Answer:
$62.50
Explanation:
X * (1 -0.20) = 50
0.8X = 50
X = $62.50
$250 is the regular selling price of a printer. Markdown prices are reductions in a product's selling price from its original selling price expressed as a percentage.
What does it mean to mark down a price?A markdown in finance is a decrease in an asset's price and value. With SumUp Invoices, you can make attractive invoices for nothing. Markdowns typically happen when a company can't sell a product for its current price because they are intended to increase sales.
Given
Discounted Price = $50
Discount rate = 20%
Required to calculate regular selling price =?
Regular selling price = Discounted Price x 100% / 20%
= 50 x 100% / 20% = $250
Markdown prices are more commonly referred to as discounts. Companies mark down the prices of their products when they have sales. $250 is the regular selling price of a printer.
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A higher price point should create value for the customer. The buyers need to know that they are paying for __________, or an unforgettable experience. The product itself must live up to these expectations.
Answers
Answer:
Differentiation.
Explanation:
The concept of value for the customer corresponds to the expectation that the product will meet the needs, desires and features that he expects.
The customer's perception of the concept of value is affected in rational and irrational ways, such as brand image, product performance, high price, etc.
Therefore, when a company offers a product at a higher price, it is passing on to the consumer the higher production cost of an item, which has features that add greater value and functionality, such as differentiation, personalization or an unforgettable customer experience.
Differentiated products are those produced in a more heterogeneous way compared to standard products, therefore differentiated products have distinct characteristics that add greater value, such as new features, technology, design, durability, style, etc.
Types of controls used to assess the effectiveness of marketing operations
Answers
Existing customer analysis
Testing research with a focus group
Customer opinions and feedback
Your welcome if this helps
A chair manufacturer has two divisions: framing and upholstering. The framing costs are $100 per chair and the upholstering costs are $200 per chair. The company makes 5,000 chairs each year, which are sold for $500. a. What is the profit of each division if the transfer price is $150? b. What is the profit of each division if the transfer price is $200?
Answers
The profit of each division if the transfer price is $150 is: $50,150 and the profit of each division if the transfer price is $200 is $150, $50.
How to find the profit?a. Profit
Department Framing
Profit = Transfer Price - Cost
Profit = 150 - 100
Profit = 50
Department upholstering
Profit = Market price - ( Framing cost + Upholstering cost)
Profit = 500 - (150 +200)
Profit = 150
b. Profit
Department Framing
Profit = Transfer Price - Cost
Profit = 250 - 100
Profit = 150
Department upholstering
Profit = Market price - ( Framing cost + Upholstering cost)
Profit = 500 - (250 +200)
Profit = 50
Therefore the profit for the two division is $50 and $150; $150 and $50.
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Ana is a supervisor at a hotel. She needs to talk with an employee who has been rude to coworkers and seems uninterested in learning new job duties.
What is the FIRST thing Ana should do before she has this difficult conversation?
She should avoid the underperforming employee for as long as possible in case their behavior improves on its own.
She should see if she can convince someone else on the team to have this difficult conversation with the underperforming employee.
She should decide what the purpose and outcome of the conversation will be-whether she will give the employee a written warning.
for instance
OD. She should make a list of the employee's positive qualities so she doesn't act too harshly or hastily
OA.
B.
C.
Reset
Next
Answers
The first thing that ana should do before she has a difficult conversation with the underperforming employee is to decide what the purpose and outcome of the conversation will be therefore the correct answer is c
What Ana has to doshe should decide what the purpose and outcome of the conversation will be whether she will give the employee a written warning for instance before having a difficult conversation with an underperforming employee
it is important for the supervisor to define the purpose and outcome of the conversation this will help to ensure that the conversation is productive and focused and that the employee understands the expectations and consequences of their behavior
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Item7
Item
Skipped
Item 7
Internet users aged 15 and older are expected to buy about ________ worth of products and services online in 2022 (excluding travel, automobile, and prescription drugs).
Multiple Choice
$200 million
$900 million
$40 billion
$100 billion
$500 billion
Answers
Answer:
$500 billion
Explanation:
Two identical firms compete as a Cournot duopoly. The inverse market demand they face is P = 123 - 3Q. The total cost function for each firm is TC(Q) = 3Q. The price charged in this market will be
Answers
The price changed in this market will be mathematically given as
P=93
What is the price change in this market?P = 123 - 3Q
Generally, the equation for the statement is mathematically given as
P = 123 - 3Q
Therefore
\(\frac{d \pi}{ d \Q1}\)=123-6Q1-30Q2-3=0
Where
Q1=120-3Q2/6
Hence
Q1=120-3(120-3Q1/6)/6
Q1=13.333
In conclusion,
P = 123 - 3(2*13.333)
P=93
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Pra tice
Jordan makes $8.50 per hour. Last week he
worked 55 hours. How much money did he
make?
Answers
Answer:
$467.50
Explanation:
Jordan makes $8.50 per hour. Last week he worked 55 hours. How much money did he make?
8.50 * 55 = $467.50
A(n)
essay expresses and defends an opinion or position.
Answers
Answer: Argumentative
Explanation:
Answer:
Argumentative
Explanation:
EDGE12021
This function of marketing is responsible for identifying and reducing risks associated
with marketing decisions. Choose the answer.
O financing
Opricing
O promotion
Orisk management
Answers
This function of marketing is responsible for identifying and reducing risks associated with marketing decisions is risk management. So risk management is correct option of the given statement.
How does risk management work?IT risk management refers to the use of risk management techniques to handle IT threats. Procedures, guidelines, and tools for evaluating possible risks and weaknesses in IT infrastructure are part of IT risk management.
What function does risk management play in general?The process of discovering, evaluating, and managing risks to people, assets, liabilities, and income is known as risk management. The ultimate purpose of risk management is the preservation of the organization's material and human resources to ensure the smooth continuation of its business operations.
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Answer:
D. Risk Management
Explanation:
This chapter is all about trade--imports and exports and the balance of payments.
Answers
The best place to put your money if you want to be able to withdraw it quickly
is a
account.
Answers
Answer:
true
Explanation:
To speed the process of surveying, surveyors use brass metal plates to record important information. The benchmarks, as they are called, are used to save time so surveyors do not have measure the datum plane each time. Benchmarks refer to what standard of measurement?
Answers
Answer: Construction surveys are those surveys that provide line and grade.
Explanation:
Benchmarks for surveying the construction site involves the fixed reference point along with a precisely published elevation levels. In the given condition, the brass metal plate is used to record and measure parameters from the set benchmark. This will save the time of the survey.
A benefit of a monopoly is：
a. greater creativity by authors who can copyright their novels.
b. a wide variety of similar products.
c. decreasing long-run average total costs.
d. lower prices.
Answers
A benefit of a monopoly is: a. greater creativity by authors who can copyright their novels.
What is monopoly?Because they give artists and innovators the chance to acquire exclusive rights and financial rewards through intellectual property rights, such as copyright protection, monopolies may be an incentive for creativity and innovation.
Knowing that they may enjoy exclusive ownership and possible financial advantage from their works might motivate authors to invest in producing original and distinctive works.
Therefore the correct option is A.
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Which statement does not describe the Linux operating systems?
It is proprietary software.
Its code can be modified by users.
It was developed by Torvalds.
It is an open-source application
Answers
Answer:
c your correct
Explanation:
The McGee Corporation finds it is necessary to determine its marginal cost of capital. McGee’s current capital structure calls for 45 percent debt, 10 percent preferred stock, and 45 percent common equity. Initially, common equity will be in the form of retained earnings (Ke) and then new common stock (Kn). The costs of the various sources of financing are as follows: debt (after-tax), 5.0 percent; preferred stock, 6.0 percent; retained earnings, 11.0 percent; and new common stock, 12.4 percent.
Answers
The marginal cost of capital for McGee Corporation is 9.96%.
The marginal cost of capital (MCC) is the weighted average cost of the different sources of financing used by a company. To calculate the MCC, we need to determine the cost of each source of financing and its respective weight in the capital structure.
Given information:
Debt (after-tax) cost = 5.0%
Preferred stock cost = 6.0%
Retained earnings cost = 11.0%
New common stock cost = 12.4%
Capital structure weights:
Debt weight = 45%
Preferred stock weight = 10%
Common equity weight = 45%
To calculate the MCC, we multiply the cost of each source of financing by its respective weight and sum them up:
MCC = (Debt weight * Debt cost) + (Preferred stock weight * Preferred stock cost) + (Common equity weight * Retained earnings cost)
MCC = (0.45 * 0.05) + (0.10 * 0.06) + (0.45 * 0.11)
= 0.0225 + 0.006 + 0.0495
= 0.078
However, the common equity portion will also include new common stock (Kn) in addition to retained earnings. To account for this, we need to calculate the cost of new common stock (Kn) based on its cost and weight:
New common stock cost = 12.4%
New common stock weight = Common equity weight - Retained earnings weight
= 0.45 - Retained earnings weight
We don't have the information about the retained earnings weight, so we can't calculate the exact MCC. However, we can make an assumption that the retained earnings weight is equal to the common equity weight, which gives us:
New common stock weight = 0.45 - 0.45
= 0
In this case, the MCC would be:
MCC = (0.45 * 0.05) + (0.10 * 0.06) + (0.45 * 0.11) + (0 * 0.124)
= 0.0225 + 0.006 + 0.0495 + 0
= 0.078
Therefore, the marginal cost of capital for McGee Corporation is 9.96% (rounded to two decimal places).
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On January 1, 2018, Alamar Corporation acquired a 45 percent interest in Burks, Inc., for $196,000. On that date, Burks's balance sheet disclosed net assets with both a fair and book value of $350,000. During 2018, Burks reported net income of $81,000 and declared and paid cash dividends of $20,000. Alamar sold inventory costing $28,000 to Burks during 2018 for $41,000. Burks used all of this merchandise in its operations during 2018. Prepare all of Alamar's 2018 journal entries to apply the equity method to this investment.
Answers
Answer:
1. Dr Investment in Burks Inc $196,000
Cr Cash $196,000
2. Dr Investment in Burks Inc $42,300
Cr Investment income in Burks Inc $42,300
3. Dr Cash $9,000
Cr Investment income in Burks Inc $9,000
Explanation:
Preparation for Journal entries
1. Dr Investment in Burks Inc $196,000
Cr Cash $196,000
2. Dr Investment in Burks Inc $42,300
Cr Investment income in Burks Inc $42,300
3. Dr Cash $9,000
Cr Investment income in Burks Inc $9,000
CALCULATION for Journal entry (2)
Unadjusted Net income $81,000
Profit from sale of inventory to burks $13,000
(41,000-28,000)
Adjusted Net Income $94,000
Share of Alamar 45%
Share of Alamar in Burks Inc income $42,300
(94,000*45%)
CALCULATION for Journal entry (3)
Cash dividends $20,000
Share of Alamar 45%
Share of Alamar in Burks Inc dividends $9,000