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elixir [45]
3 years ago
10

When the trial balance extracted from the books of Keman Enterprises at the year-end failed to balance, the difference was place

d in a Suspense account. Identify the amount that would have been placed in suspense as a result of each of the following errors; GH₵ 2,400 pre-paid insurance has been brought forward from the previous year as a credit balance.
A. Dr 4,800
B. None
C. Cr 2,400
D. Dr. 1,500​
Business
1 answer:
Ugo [173]3 years ago
8 0

Answer:

The answer is option (A) Dr 4,800

Explanation:

Solution

From the given question, the prepaid insurance normally is having a debit  balance.

When it is brought forward to next year, this GH₵ 2,400 has to be cancelled once by debiting to suspense account.

Also. it want 2400 to credit the balance in prepaid insurance ledger, it need or require to be credited and debited to suspense account with 2400 balance.

Now, this combined debit to suspense account will result to 4800 (2400 +2400).

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You own a portfolio that has a total value of $215,000 and it is invested in Stock D with a beta of .86 and Stock E with a beta
babunello [35]

Answer:  BP = BD(WD) + BE(WE)

                   1 = 0.86(1-WE) + 1.39WE

                   1 = 0.86-0.86WE + 1.39WE

                   1 = 0.86 + 0.53WE

                 -0.53WE = -0.14

                  0.53WE  = 0.14

                         WE   = 0.14/0.53

                         WE   = 0.2641509434

                         WD = 1 - WE

                         WD = 1 - 0.2641509434

                         WD = 0.7358490566

The dollar amount of investment in stock D = 0.7358490566 x $215,000

                                                                         = $158,207.54

Explanation: The beta of the portfolio is 1, which corresponds to the beta of the market. The beta of the portfolio equals beta of each stock multiplied by the percentage of fund invested in each stock(weight). The weight of stock D is equal to 1 - weight of stock E. Therefore, we need to make weight of stock E the subject of the formula by solving the problem mathematically and collecting the like terms. The weight of stock E is 0.2641509434. The weight of stock E will be subtracted from 1 so as to obtain the weight of stock D, which is 0.7358490566. The dollar amount of stock D equal to $215,000 multiplied by 0.7358490566, which is $158,207.54.

4 0
2 years ago
Galvanized Products is considering purchasing a new computer system for their enterprise data management system. The vendor has
alekssr [168]

Answer:

The present worth of this investment = -$31,204.78

Explanation:

Note: See the attached excel file for the calculation of the present worth of this investment (in bold red color).

In the attached excel file, the following are used:

Loan from bank = Purchase price * (1 / 4) = $130,000 * (1 / 4) = $32,500

Initial cost = Purchase price - Loan from bank = $130,000 - $32,500 = $97,500

The annual required equal loan payments is calculated using the formula for calculating loan amortization as follows:

P = (A * (r * (1 + r)^n)) / (((1 + r)^n) - 1) .................................... (1)

Where,

P = Annual required equal loan payment = ?

A = Loan amount from bank = $32,500

r = interest rate = 12%, or 0.12

n = number of payment years = 3

Substituting all the figures into equation (1), we have:

P = Annual required equal loan payment = ($32,500 * (0.12 * (1 + 0.12)^3)) / (((1 + 0.12)^3) - 1) = $13,531.34

From the attached excl file, the present worth of this investment is equal to -$31,204.78

Download xlsx
3 0
3 years ago
Indirect costs incurred in a manufacturing environment that cannot be traced directly to a product are treated as a.period costs
Dima020 [189]

Answer:

Indirect costs incurred in a manufacturing environment that cannot be traced directly to a product are treated as Product costs and expenses when the goods are sold, Option D.

Explanation:

Indirect costs are also manufacturing overheads which cannot be directly put on the product but they have to be allocated in some way. So, these are treated as 'product costs' and 'expenses' when the goods are sold. They are not period costs as per Option A and option C. Option B which says that it is product costs when incurred, which is also incorrect.

Examples of indirect costs can be accounting and legal expenses, rent, telephone expenses, salaries of administrative.

Direct costs includes the costs of direct 'labor', materials and commissions.

8 0
3 years ago
Items such as cookies, crackers, and potato chips have separate schemas. However, these can be clustered into one category becau
r-ruslan [8.4K]

Answer:

The answer is A. Taxonomic categories

Explanation:

Taxonomy can be defined as the system of classification of various things based on their similarities or differences.

In the question above, cookies, crackers and potato chips are different products, but they all share a similarity, which is that they're all snack foods and therefore are under the same taxonomic category.

3 0
2 years ago
A U.S. firm sells merchandise today to a British company for £150,000. The current exchange rate is $1.55/£ , the account is pay
Andre45 [30]

Answer:

b

Explanation:

4 0
3 years ago
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