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3 years ago

It is the end of the year but not the end of the pay period. How will this affect the balance sheet?

Business

2 answers:

Nataliya [291]3 years ago

8 0

Answer:

This has no effect on the period-end balance sheet.

Explanation:

A statement of the assets, liabilities, and capital of a business or other organization at a particular point in time, detailing the balance of income and expenditure over the preceding period.

According to the question asked the balanced sheet was prepared before the pay period came so this effect will not affect the balance sheet.

Nataliya [291]3 years ago

6 0

Answer:

its liabilities will be increased because i took the test and the other 3 options were wrong.

Explanation:

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a nurse teaches a client who is being discharge home. the client has a t-tube after an open cholecystectomy. which statement mad

DerKrebs [107]

Answer:

The statement made by the client that I need or require a diet which do not have a lot of fatty foods

Explanation:

After the cholecystectomy, the client or the patient need or require a diet which is nutritious and does not have the excess fat, otherwise a special or a particular diet is not stated for most of the clients.

Under this, the client require to have a good fluid intake, that is healthy for all the people though it is not related to the surgery.

And drinking fluids among the meals helps with the dumping syndrome and the restriction of the sweets is not necessary.

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3 years ago

Problem 4-4 Calculation of Gain or Loss (LO 4.3) Jocasta owns an apartment complex that she purchased 6 years ago for $750,000.

NemiM [27]

Answer:

$671,300

Explanation:

The calculation of adjusted basis in the building is shown below:-

Adjusted basis = Original cost of the property + Cost of capital improvements - Depreciation claimed

= $750,000 + $50,000 - $128,700

= $800,000 - $128,700

= $671,300

Therefore for computing the adjusted basis we simply add original cost of the property with cost of capital improvements and deduct depreciation claimed.

5 0

3 years ago

The world's largest bank, Deutsche Bank, set as its objective to make its brand name as recognizable in the United States as Fed

Gemiola [76]

Answer:

A. Tactical Planning

Explanation:

Tactical planning is a type of an organization's strategic plan used in achieving a specific goal. It's used after an organization outlines a strategic plans indicating general organizational goals and objectives. Tactical plans usually describes the methodology to be used in achieving each of those general goals in the strategic plan. It is done in order to achieve long term goals. Therefore, for Deutsche bank to be able to implement their long range plan, they need to employ the use of tactical planning.

8 0

3 years ago

Nash Co. sells $435,000 of 12% bonds on June 1, 2020. The bonds pay interest on December 1 and June 1. The due date of the bonds

garri49 [273]

Answer:

$\left[\begin{array}{ccccccc}\\ &&$Carrying Value&$Cash&$Int. exp&$Amortization&$E.Carrying\\& 1&493574.88&26100&19743&6357&487217.88\\& 2&487217.88&26100&19488.72&6611.28&480606.6\\& 3&480606.6&26100&19224.26&6875.74&473730.86\\& 4&473730.86&26100&18949.23&7150.77&466580.09\\& 5&466580.09&26100&18663.2&7436.8&459143.29\\& 6&459143.29&26100&18365.73&7734.27&451409.02\\& 7&451409.02&26100&18056.36&8043.64&443365.38\\& 8&443365.38&26100&17734.62&8365.38&435000\\\end{array}\right]$

<u>Journal entries:</u>

cash 493,574.88 debit

bonds payable 435,000.00 credit

premium on bp 58,574.88 credit

--to record issuance--

Interest expense 19743

Amortization 6357

cash 26100

--to record Dec 31st, 2020--

Interest expense 19488.72

Amortization 6611.28

cash 26100

--to record June 30th, 2021--

bonds payable 130,500.00 debit

premium on bp 13,681.98 debit

interest expense 17,400.00 debit

gain on redemption 25,081.98 credit

cash 136,500.00 credit

--to record redemption--

premium on BP 4,813.04 debit

interest expense 13,456.96 debit

cash 18,270 credit

-- to record December 31st, 2021--

Explanation:

First, we solve for the proceeds from the bonds payable:

$C \times \frac{1-(1+r)^{-time} }{rate} = PV\\$

C 26,100 (435,000 x 12% / 2)

time 8 ( 4 years x 2)

yield to maturity 0.04 ( 8% / 2)

$26100 \times \frac{1-(1+0.04)^{-8} }{0.04} = PV\\$

PV $175,724.6412

$\frac{Maturity}{(1 + rate)^{time} } = PV$

Maturity 435,000.00

time 8.00

rate 0.04

$\frac{435000}{(1 + 0.04)^{8} } = PV$

PV 317,850.24

PV c $175,724.6412

PV m $317,850.2392

Total $493,574.8804

We now build the amortization schedule.

We take this value, we multiply by the interest rate and then, solve for amortization and ending carrying value.

<u>To record the redemption:</u>

accrued interest:

435,000 x 0.12 x 4/12 (months from June to oct) = 17,400

premium:

480,606.6 - 435,000 = 45,606.6

proportional of premium:

45,606 / 435,000 x 130,500 = 13.681,98

we now solve for the gain/loss on redemption:

130,500 + 13,681.98 + 17,400 = 161.581,9 value redeem

for cash 136,500

gain on redemption 25.081,98

bonds payable 130,500.00 debit

premium on bp 13,681.98 debit

interest expense 17,400.00 debit

gain on redemption 25,081.98 credit

cash 136,500.00 credit

Now, we solve for Dec 31st, 2021 entry.

bonds payable: 435,000 - 130,500 = 304,500

premium: 45,606 - 13,681.98 = 31.924,02

interest expense:

(304,500 + 31,924.02) x 0.04 = 13,456.96

cash outlay:

304,500 x 0.06 = 18,270

amortization 18,270 - 13,456.96 = 4,813.04

6 0

3 years ago

Way Cool produces two different models of air conditioners. The company produces the mechanical systems in its components depart

Arlecino [84]

Answer:

Way Cool

1. Overhead Cost per unit for each product line:

Model 145 Model 212

Overhead cost per unit $434.97 $457.59

2. Total cost per unit for each product line:

Model 145 Model 212

Total cost per unit $634.97 $569.59

3. The profit or loss per unit for each model:

Model 145 Model 212

Market price 515.95 303.34

Loss per unit $119.02 $266.25

Explanation:

a) Data and Calculations:

Process Activity Overheads Driver Quantity Components O/H rates

Changeover $ 627,450 Number of batches 890 $705

Machining 379,155 Machine hours 8,050 $47.10

Setups 108,000 Number of setups 60 $1,800

Total $ 1,114,605

Finishing

Welding $ 220,580 Welding hours 4,100 $538

Inspecting 254,200 Number of inspections 820 $310

Rework 47,200 Rework orders 160 $295

Total $ 521,980

Support Purchasing $ 158,600 Purchase orders 488 $325

Providing space 30,900 Number of units 8,400 $3.68

Providing utilities 126,180 Number of units 8,400 $15.02

Total $ 315,680

Additional production information concerning its two product lines follows.

Model 145 Model 212

Units produced 2,800 5,600

Welding hours 800 3,300

Batches 445 445

Number of inspections 510 310

Machine hours 2,750 5,300

Setups 30 30

Rework orders 90 70

Purchase orders 325 163

Model 145 Model 212

Units produced 2,800 5,600

Welding hours $430,400 (800*$538) $1,775,400 (3,300 * $538)

Batches 313,725 (445*$705) 313,725 (445*$705)

Number of inspections 158,100 (510*$310) 96,100 (310*$310)

Machine hours 129,525 (2,750*$47.10) 249,630 (5,300*$47.10)

Setups 54,000 (30*$1,800) 54,000 (30*$1,800)

Rework orders 26,550 (90*$295) 20,650 (70*$295)

Purchase orders 105,625 (325*$325) 52,975 (163*$325)

Total overhead costs $1,217,925 $2,562,480

Units produced 2,800 5,600

Overhead cost per unit $434.97 $457.59

Direct labor and materials 200.00 112.00

Total cost per unit $634.97 $569.59

Market price 515.95 303.34

Loss per unit $119.02 $266.25

4 0

3 years ago