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​A company completed these transactions. What will the company’s total

Question ​A company completed these transactions. What will the company’s total assets​ equal?If stockholders invested $54,000 cash and inventory with a fair value of $26,000. Company’s total assets will equal _____?Sales on​ account equalling $23,000. Company’s total assets will equal ______?

Smitty’s Chop Shop normally writes checks in the amount of

Question Smitty’s Chop Shop normally writes checks in the amount of $15,000 each day. It takes five days for these checks to clear through the banking system. The firm also receives checks in the amount of $12,000 daily but loses four days while they are being deposited and cleared. What is the firm’s disbursement float, collections, float, and net float? MUST SHOW WORK

It takes five days from the time customers mail payments

Question It takes five days from the time customers mail payments until Shark Bait Rafts (SBR) deposits them. SBR would like to set up a lockbox collection float by three days. If SBR receives an average of $2,500 in payments per day and its opportunity cost is 18 percent, how much should SBR be willing to pay each month for the lockbox system?

Accounts Payable had a normal beginning balance of $1,100. During

Question Accounts Payable had a normal beginning balance of $1,100. During the​ period, there were debit postings of $600 and credit postings of $1,000. What was the ending​ balance?–$700 debit?or a $1,500 debit?or a $1,500 credit?or a $700 credit?

Question 2 (Total: 14 marks)CLAW Corporation is a manufacturer of

Question Question 2                                                                                                          (Total: 14 marks)CLAW Corporation is a manufacturer of industrial equipment, located in Toronto, Ontario. CLAW has a standard costing system based on direct labour hours (DLHs) as the measure of activity. Data from the company’s flexible budget for manufacturing overhead are given below: Denominator Level of Activity 9,000 DLHs Overhead Costs at the Denominator Activity Level: Variable Overhead Cost $90,700 Fixed Overhead Cost $102,800 The following data pertains to operations for the most recent period: Actual Hours 7,800 DLHs Standard Hours Allowed for the Actual Output 7,765 DLHs Actual Total Variable Overhead Cost $54,210 Actual Total Fixed Overhead Cost $100,200 Required:1.     What was the total predetermined overhead rate?     2.     How much overhead was applied to products during the period?

Ms. Anna Ang, aged 39, recently purchased an endowment plan

Question Ms. Anna Ang, aged 39, recently purchased an endowment plan from an insurer that requires her to set aside $24,000 per year for the next 23 years till she retires at age 62. The first premium payment occurs at the beginning of the period. Assuming an inflation rate of 2% and an estimated rate of return of 4.0% from the endowment plan, what is the estimated future value of Anna’s regular savings at age 62?

Finology Company’s average collection period is 37 days, which is

Question Finology Company’s average collection period is 37 days, which is only 7 days longer than the net 30 terms the company offers credit customers. 50% of Finology’s customers pay on average on Day 20, and 30% pay on Day 40. On what day do the remaining credit customers pay? Assume Finology has no bad credit. MUST SHOW WORK

Question 1 (Total: 20 marks)When analyzing the total variable overhead

Question Question 1                                                                                                          (Total: 20 marks)When analyzing the total variable overhead cost variance into both spending and efficiency variances, it is often assumed that direct labour hours is the sole cost driver.Required:1.     Explain if direct labour costs could ever be a better cost driver of variable overhead costs than direct labour hours.2.     How is the standard variable overhead rate different from the standard labour rate in variance analysis? Please explain.Question 2                                                                                                          (Total: 14 marks)CLAW Corporation is a manufacturer of industrial equipment, located in Toronto, Ontario. CLAW has a standard costing system based on direct labour hours (DLHs) as the measure of activity. Data from the company’s flexible budget for manufacturing overhead are given below: Denominator Level of Activity 9,000 DLHs Overhead Costs at the Denominator Activity Level: Variable Overhead Cost $90,700 Fixed Overhead Cost $102,800 The following data pertains to operations for the most recent period: Actual Hours 7,800 DLHs Standard Hours Allowed for the Actual Output 7,765 DLHs Actual Total Variable Overhead Cost $54,210 Actual Total Fixed Overhead Cost $100,200 Required:1.     What was the total predetermined overhead rate?     2.     How much overhead was applied to products during the period?Question 3                                                                                                          (Total: 30 marks)For the Win (FTW) Corporation uses a standard costing system in the creation of awards and trophies. The Manufacturing overhead costs are applied to products on the basis of machine time.Required:1.     Unfortunately, due to accounting glitches in FTW’s software, several numbers and labels have been omitted from the analysis of fixed overhead below. Supply the missing numbers and labels to help FTW out: Actual Fixed Overhead Cost Flexible Budget Overhead Cost Fixed Overhead Cost Applied to Work in Process  (a) (b) 302,100 MH x $1.08 = (c) Budget variance, $1,880 U (d) Total variance, $388 F (e) 2.     Next, assume that 6 minutes of machine time is standard per unit of production. How many units were actually produced in the situation above?3.     Once again, assume that 6 minutes of machine time is standard per unit of production. How many units of production were assumed when the predetermined application rate for fixed overhead was established?Question 4Orville Company’s standard and actual costs per unit are provided below for the most recent period. During this time period 400 units were actually produced.  Standard Actual Materials: Standard: 2 metres at $1.50 per m. $3.00 Actual: 2.1 metres at $1.60 per m. $3.36 Direct labour: Standard: 1.5 hrs. at $6.00 per hr. 9.00      Actual: 1.4 hrs. at $6.50 per hr. 9.10 Variable overhead: Standard: 1.5 hrs. at $3.40 per hr. 5.10 Actual: 1.4 hrs. at $3.10 per hr. 4.34 Total unit cost $17.19 $16.80 For simplicity, assume there was no inventory of materials at the beginning or end of the period. Required:Given the information above, compute the following variances. Also indicate if the variances are favorable or unfavorable. 1.     Materials price variance2.     Materials quantity variance3.     Direct labour rate variance4.     Direct labour efficiency variance5.     Variable overhead spending variance6.     Variable overhead efficiency variance

Sales for the year = $831,066, Profit margin =18%, and

Question Sales for the year = $831,066, Profit margin =18%, and average Assets during the year = $647,770.Return on Assets (ROA) for the year is:Select one:A. 17.1%B. 23.1%C. 64.0%D. There is not enough information to calculate ROA.E. None of the above

The income statement of a apartment building is:Rents $ 650,000Operating

Question The income statement of a apartment building is:Rents                 $ 650,000Operating expense       350,000Interest expense         100,000Net Income             $ 200,000  Capitalization Rates are 6% Based upon capitalization rates what is the property value ? Select one:a. $4,166,667b. $5,833,333c. $3,333,333d. $5,000,000

JJ’s Jungle equipment decided to sell products on credit. They

Question JJ’s Jungle equipment decided to sell products on credit. They are evaluating 2 credit terms />1.    Net 45, which would generate $50,000 in annual sales and have an average collection period equal to 55 days2.    Net 30, which would generate $48,000 in sales and have an average collection period equal to 36 days. The firms variable cost ratio is 70%, and its average cost of funds 14%Which credit terms should they choose and why? MUST SHOW WORK

Any help would be greatly appreciated in answering this question

Question Any help would be greatly appreciated in answering this question please. Thanks. src=”/qa/attachment/9507751/” alt=”ACCT_211_Problem8.jpg” /> ATTACHMENT PREVIEW Download attachment ACCT_211_Problem8.jpg Required Information [The following information applies to the questions displayed below.] Yi Min started an engineering firm called Min Engineering. He began operations and completed seven transactions in May. which included his initial investment of $18.500 cash. After those seven transactions, the ledger included the following accounts with normal balances. Cash $ 43,539 Office supplies 1, 909 Prepaid insurance 4,380 Office equipment 11, 280 Accounts payable 11, 209 Common Stock 18, 583 Dividends 3,671 Engineering fees earned 42, 809 Rent expense 7,998 The following seven transactions produced the account balances shown above. a. Y. Min invested $18,500 cash in the business in exchange for common stock. b. Paid $7,990 cash for monthly rent expense for May. c. Paid $4,300 cash in advance for the annual insurance premium beginning the next period. d. Purchased office supplies for $1,000 cash. e. Purchased $11,200 of office equipment on credit (with accounts payable). f. Received $42.000 cash for engineering services provided in May. 9. The company paid a $3.671 cash dividend. 2. Prepare a Cash T-account for the above transaction, and compute the ending Cash balance. Code each entry with one of the transaction codes a through g. Cash Beg. Bal. End. Bal.

Which of the following statements best describes the reason why

Question Which of the following statements best describes the reason why some companies are able to take on higher levels of debt than are others? Companies that can sustain higher levels of debt generally operate in consumer products industries.Companies that can sustain higher levels of debt are typically larger companies.Companies that can sustain higher levels of debt are typically those with the most stable and positive cash flows.Companies that can sustain higher levels of debt are generally younger companies whose market values are relatively low and, as a result, cannot raise equity capital.

An investment of cash by stockholders into the business will:–

Question An investment of cash by stockholders into the business will:– decrease total liabilities?– decrease total assets?– have no effect on total assets?– increase​ stockholders’ equity?

On January 2, 2018, Miller Properties paid $23 million for

Question On January 2, 2018, Miller Properties paid $23 million for 1 million shares of Marlon Company’s 6 million outstanding common shares. Miller’s CEO became a member of Marlon’s board of directors during the first quarter of 2018. The carrying amount of Marlon’s net assets was $92 million. Miller estimated the fair value of those net assets to be the same except for a patent valued at $24 million above cost. The remaining amortization period for the patent is 10 years. Marlon reported earnings of $39 million and paid dividends of $6 million during 2018. On December 31, 2018, Marlon’s common stock was trading on the NYSE at $22.50 per share. Required:2. Assume Miller accounts for its investment in Marlon using the equity method. Ignoring income taxes, determine the amounts related to the investment to be reported in its 2018

Drew Castello, general manager of Sunflower Manufacturing, was frustrated. He

Question Drew Castello, general manager of Sunflower Manufacturing, was frustrated. He wanted the budgeted results, and his staff was not getting them to him fast enough. Drew decided to pay a visit to the accounting office, where Jeff Hollingsworth was supposed to be working on the reports. Jeff had recently been hired to update the accounting system and speed up the reporting process.”What’s taking so long?” Drew asked. “When am I going to get the variance reports?” Jeff sighed and attempted to explain the problem. “Some of the variances appear to be way off. We either have a serious problem in production, or there is  an error in the spreadsheet. I want to recheck the spreadsheet before I distribute the report.” Drew pulled up a chair, and the two men went through the spreadsheet together. The formulas in the spreadsheet were correct and showed a large unfavorable direct labor efficiency variance. It was time for Drew and Jeff to do some investigating.After looking at the time records, Jeff pointed out that it was unusual that every employee in the production area recorded exactly eight hours each day in direct labor. Did they not take breaks? Was no one ever five minutes late getting back from lunch? What about clean-up time between jobs or at the end of the day?Drew began to observe the production laborers and noticed several disturbing items. One employee was routinely late for work, but his time card always showed him clocked in on time. Another employee took 10- to 15-minute breaks every hour, averaging about 1½ hours each day, but still reported eight hours of direct labor each day. Yet another employee often took an extra 30 minutes for lunch, but his time card showed him clocked in on time. No one in the production area ever reported any “down time” when they were not working on a specific job, even though they all took breaks and completed other tasks such as doing clean-up and attending department meetings. Requirements1.      How might the observed behaviors cause an unfavorable direct labor efficiency variance?2.      How might an employee’s time card show the employee on the job and working when the employee was not present?3.      Why would the employees’ activities be considered fraudulent? 

I’m having problems with question d. Can someone tell me

Question I’m having problems with question d. Can someone tell me how to calculate this. I’m getting the wrong answer.My journal titles are correct but my debit amount is correct but my credit amounts are off.How do I calculate problem d?Cash 12,600 dr. (this is correct) Gain on settlement of call option Cr. Call option Cr. On August 15, 2016, Culver Co. invested idle cash by purchasing a call option on Counting Crows Inc. common shares for $756. The notional value of the call option is 840 shares, and the option price is $84. The option expires on January 31, 2017. The following data are available with respect to the call option. (a) Investment in call option on Counting Crows shares on August 15, 2016. (b) September 30, 2016—Culver prepares financial statements. (c) December 31, 2016—Culver prepares financial statements. (d) January 15, 2017—Culver settles the call option on the Counting Crows shares. ATTACHMENT PREVIEW Download attachment Screenshot (2109).png A B C D E F 2 Market Time Price of Value of 3 Counting Call 4 Date Crows Shares Option 30-Sep-16 $101 per 5 share $378 31-Dec-16 $97 per 6 share 137 7 15-Jan-17 $99 per share 63 8 9 10 Call Premium 756 11 Notional Shares 840 12 Option Price 84 13Read more

Which of the following is the better measure of management

Question Which of the following is the better measure of management effectiveness? Select one:a. Return on Assets (ROA)b. Return on Equity ( ROE)c. Return on Invested Capital ( ROIC)d. Operating Income Percentage 

“One of the main functions of budgets is evaluating performance.

Question “One of the main functions of budgets is evaluating performance. In this evaluation role, budgets serve as a useful standard of measurement. However, if budget performance is overemphasised when evaluating managers’ performance, the managers might take undesirable actions such as padding the budget. Required:Identify four undesirable actions (other than padding the budget) that managers might take as a result of an overemphasis on budgets as a performance measure. How each action you have identified affects the long-term performance.”Can you please give me some ideas to answer this question?

Which of the following transactions will increase an asset and

Question Which of the following transactions will increase an asset and increase​ stockholders’ equity?– borrowing money from a bank?– purchasing supplies on account?– performing a service on account for a customer?– collecting cash from a customer on an account receivable?

Scott, Inc. plans to manufacture scooters for commuters. The company

Question Scott, Inc. plans to manufacture scooters for commuters.  The company expects to have two models, the “C” and the “R” models.  The company will use activity-based costing to apply its estimated $145,000 of overhead costs to its products.  Information about its overhead follows:Activity (Cost Driver)Estimated MOHExpected Activity Total              C ModelR Model Assembly (Labour Hours)$20,00010,0006,0004,000 Quality control (Inspection Hours)35,0002,0006001,400 Parts Admin (Number of Parts)90,0001004060 $145,000The following cost data is known:C Model      R ModelDirect Materials$600$900Direct Labour 250400Number of units produced250 units150 unitsThe company has not yet determined its planned selling price, but knows that the average price for competitors of the C Model is $1,200. For the R Model, competitors are priced at $1,700 on average.  How do I 1.  Compute the activity rates for each activity., 2. Determine the expected unit cost of each product. and 3. figure out If Scott, Inc. prices its products in line with competitors, what will the margins be on each product?  The largest competitors have gross profit margins of 23%, how does Scott, Inc. compare?

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