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3 years ago

5

Dockside Warehouse has net working capital of $42,400, total assets of $519,300, and net fixed assets of $380,200. What is the v

alue of the current liabilities?
A) $61,700
B) $88,4000
C) $102,900
D) $96,700
E) $111,500

1 answer:

svet-max [94.6K]3 years ago

6 0

Hope this help. Answer will be on image.

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Xtra Company purchased a business from Argus for $96,000 above the fair value of its net assets. Argus had developed the goodwil

vaieri [72.5K]

Answer:

c. goodwill is not amortized

Explanation:

The answer to this question is simply option c. Goodwill is not amortized

The reason for this is that the goodwill is accrued as a result of an entity paying more for an asset they acquired than what is supposed to be their fair value, putting its brand value into consideration. The Amortization of Goodwill is not something that is permitted . In order for a better accounting, the valuation of goodwill of entity should be done yearly so as to determine an impairment whenever it is required.

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3 years ago

Coffman Company sold bonds with a face value of $1,000,000 for $940,000. The bonds have a coupon rate of 10 percent, mature in 1

melomori [17]

Answer:

Journal Entry

January 1

Dr. Cash $940,000

Dr. Discount on Account Receivable $60,000

Cr. Bond Payable Account $1,000,000

Explanation:

The difference between the face value of the bond and the sale value of the bond is known as premium or the discount on the bond. If the face value is higher from the sale value the bond is issued on the discount and if the sale value of the bond is higher than the face value the bond is issued on the premium.

Discount on the Bond = Face value - Sale value = $100,000 - $940,000 = $60,000

The discount amount will be recorded in Discount on Bond Payable Account and will be amortized over the 10 years until the maturity of the bond.

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4 years ago

Who is the First african american millionaire invented black hair care products?

Shalnov [3]

Answer: Madam C. J Walker

Explanation: Madam C.J Walker was an entrepreneur, who made her fortune from the manufacture of hair care product for blacks through her company named Madam C. J Walker manufacturing company situated in Indianapolis, Indiana. She was regarded as the first African American millionaire, earning her fortune through her entrepreneurial skill. She's fondly renowned for her philanthropic accomplishments and contribution towards the African American community.

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3 years ago

1. Imagine you are a mid-level manager for a major international oil company. You have been asked whether an investment in oil e

WARRIOR [948]

Answer:

1. What environmental, social, and political risks might arise in supply chain operations in Haiti?

An enviromental risk is another earthquake. Haiti is a very seismic country, and infraestructure quality is low: it can easily crumble down in the even of a strong earthquake (unlike other highly seismic countries with high quality infraestructure, for example: Japan).

A social risk is the possiblity of workers' revolts. The workers may feel exploited, or not at ease within the company, and decided to revolt. Haiti is a violent country, and the revolt could easily become a full-scale conflict that would result in the closing of most, of all of the firms associated with the supply chain.

A political risk is the possibility of property seizure by the government. Haiti does not rank high in government stability, judicial independence, or property rights protections. A new government could become authoritarian, and decide to seize the firms associated with the supply chain.

2. What are the foreseeable costs and benefits from supply chain operations in Haiti?

Low labor costs: the average per capita income in Haiti is $450, and the poverty rate is over 50%, while the underemployment rate is over 60%. This means that people are willing to work, and will work for very low wages, meaning lower costs accross the supply chain.

Untapped market: Even if Haiti is a very poor country, for the same reason it has a great potential to grow, since poor, developing countries tend to grow faster than advanced nations. If the economy of Haitin turns upwards, the firms along the supply chain will likely benefit from being the first in the new market.

3. How could you ensure that your company’s involvement would play a beneficial role in Haiti’s economic recovery?

Paying fair wages, following the country's laws, avoiding illegal practices such as bribing, and putting aside some of the company's income for social contributions such as donations to schools and hospitals (corporate social responsability).

5 0

3 years ago

Rockville, Inc. which uses a job costing system, began business on January 1, 20X3 and applies to manufacture overhead on the ba

Elan Coil [88]

Answer:

Rockville's ending WIP inventory= $ 135,000

Rockville's COG Manufactured Total Cost of Goods Manufactured = $ 815,000

Net Income $ 793,800

Explanation:

<u>Rockville, Inc. </u>

Budgeted Direct Labor $200,000

Manufacturing Overhead $250,000,

Job number DM DL

#1 $145,000 $35,000

#2 320,000 65,000

#3 55,000 80,000

Rockville's ending WIP inventory= Job#3 = Direct Materials + Direct Labor = 55,000 + 80,000= $ 135,000

Rockville's COG Manufactured

= Job #1 + Job #2= Direct Materials + Direct Labor = $145,000 + $35,000 + 320,000 + 65,000= 565,000

Applied Overhead $250,000

Total Cost of Goods Manufactured = $ 815,000

Less Ending Inventory $ 135,000

Cost of Goods Sold= $ 500,000

Actual Manufacturing Overhead = $ 233,000

Applied Overhead $250,000

Less Over applied Overhead $ 17,000

Adjusted Cost of Goods Sold $ 483,000

Rockville's income statement.

Sales $ 798,000*1.6= $ 1276,800

<u>Less COGS $ 483,000</u>

<u>Net Income $ 793,800</u>

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4 years ago