Answer:
Cash and cash equivalents = $20,217
Explanation:
Larkspur Company
Cash and Cash Equivalent
Transaction No. Particulars $
1. Petty Cash Fund 52
2. Treasury Bill 10,200
3. Deposit-In-Transit 255
Cash-in-Bank:
5. Checking account 3,360
6. Savings account 6,350
Total Cash & Cash Equivalent 20,217
Transaction #4. Since it did not post during April, therefore, it could not be a cash item.
Transaction #7. It is an expense.
Transaction #8. IOU is a receivable.
Answer:
a. $1.2800
Explanation:
The AUD/SF cross exchange rate is as computed below:
==> AUD/$ ÷ SF/$
==> $1.60 / $1.25
==> $1.2800
So, the AUD/SF cross exchange rate is $1.2800
Answer:
Demand would have to drop by 27,500 units and above
Explanation:
<em>With a proposed increase in price of 10%, Calypso would like break-even, that to ensure that its total revenue covers its total fixed costs. . This would mean the minimum quantity should be that which will produce a total contribution that covers the total fixed cost. And would produce a profit of zero.</em>
<em>New selling price after 10% Increase = 110% × $30 =</em><em> $33</em>
Minimum quantity = Total fixed / contribution per unit
<em>Contribution per unit = selling price - variable cost per unit</em>
= $33 - $25
= $8 per unit
<em>Minimum quantity = Total fixed cost/contribution per unit</em>
= 180,000/ 8
= 22,500 units
<em>The decrease in demand = Current quantity - minimum quantity</em>
= 50,000 - 22,500
= 27,500 units
Demand would have to drop by 27,500 units and above
Answer:
A. Debit to salaries and wages expense for 64,000
Credit to FICA taxes payable for 4,896
Credit to Federal Income Tax Payable for 7,500
Credit to State Income Tax Payable for 3,100
Credit to Union Dues Payable for 400
Credit to Salaries and Wages Payable for 48,104
B. Debit to payroll tax expense for 5,596
Credit to FICA tax payable for 4,896
Credit to State Unemployment for 700
Answer:
a. $141,086,622.46.
Explanation:
Calculation for how much must it deposit today
Using this formula
Present Value = Future Value / [ ( 1 + r) n]
Where,
Future Value = 440,000,000
r = rate of Interest= 4%
n = Number of years = 29
Let plug in the formula
Present Value = 440,000,000 / [ ( 1 + 0.04)29]
Present Value= 440,000,000 / 3.1186514519
Present Value= $141,086,622.46
Therefore the amount it must deposit today to fund this liability will be $141,086,622.46
