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3 years ago

Classify each of the following as:___________

Business

1 answer:

FrozenT [24]3 years ago

8 0

Answer:

1. Ordinary maintenance and repairs.

a) Adding refrigerant to an air conditioning system.

b) Fixing damage due to a car accident.

e) Exterior and interior painting.

2. Assets improvements

c) Installing a new air conditioning system in an old building.

d) Paving a new parking lot.

h) New landscaping.

3. Extra ordinary repairs.

f) Overhauling an engine in a large truck.

g) Resurfacing a pool in an apartment building.

Explanation:

Assets improvements: this are improvements carried out on an assets for comfort and ease of use of such assets. Example is the installation of air conditioning unit in an old building.

Ordinary maintenance and repairs: this are maintenance and repairs carried out on machines, equipment and tools to bring them to the required working conditions or standard.

Extraordinary repairs: unlike ordinary maintenance and repairs this requires overhauling or changing of heavy components parts of a machine or equipment.

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On October 10, the stockholders’ equity of Sherman Systems appears as follows. Common stock–$10 par value, 77,000 shares authori

Vikki [24]

Answer:

See the explanation below:

Explanation:

1. Prepare journal entries to record the following transactions for Sherman Systems

a. Purchased 5,500 shares of its own common stock at $30 per share on October 11.

Details Dr ($) Cr ($) 

Treasury Stock (5,500 × 30) 165,000

Cash 165,000

To record the repurchase of own common stock

b. Sold 1,125 treasury shares on November 1 for $36 cash per share.

Details Dr ($) Cr ($)

Cash (1,125 × 36) 40,500

Treasury Stock (1,125 × 30) 33,750

Paid-in Capital from Sale of Treasury Stock 6,750

To record the sale of treasury stock.

c. Sold all remaining treasury shares on November 25 for $25 cash per share.

Details Dr ($) Cr ($) 

Cash (4,375 × 25) 109,375

Paid-in Capital from Sale of Treasury Stock 6,750

Retained Earnings 15,125

Treasury Stock 99,000 (4,375 × 30) 131,250

To record the sale of the remaining treasury shares

Kindly note that there is a balance of $6,750 in the Treasury Stock Paid-in Capital account. Since it is utilized, the remaining deficit will show in Retained Earnings.

2. Prepare the stockholders' equity section after the October 11 treasury stock purchase.

Details $

77,000 issued authorized common stock–$10 par value 770,000

Paid-in capital in excess of par value, common stock 241,000

Retained earnings 904,000

Treasury stock (165,000)

Total stockholders’ equity 1,750,000

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3 years ago

Rent controls force landlords to price apartments below the equilibrium price level. An immediate effect is a shortage (excess d

IrinaK [193]

Answer:

Option (a) and (c) are correct.

Explanation:

We know that rent control is an example of price ceiling. If the price of apartments set below the equilibrium price level then there is increase in the demand for apartments. So, the demand for apartments exceeds quantity supplied at the prevailing market price.

(a) Therefore, the quality of rental housing falls because of the lower price of the apartment. As this will become less profitable for the landlords, so they are least interested in the maintenance of the apartments.

(b) This will also lead to develop black market. The landlords are trying to fool the higher authorities and rent their apartments at a higher cost because this will be done without any type of legal documentation of the apartments or results from the manipulation of the rules.

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3 years ago

A new assessment tool does a good job of differentiating those who later will be depressed and those who will not be depressed,

Marina CMI [18]

Answer:

A. predictive validity.

Explanation:

The tool has predictive-validity because it can assess, or predict, out of a sample, which subjects will be depressed in the future, and which subjects will not, producing similar results to other tools that also measure depression, something that gives it credibility.

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3 years ago

Problem 9-18 Comprehensive Variance Analysis [LO9-4, LO9-5, LO9-6]

Thepotemich [5.8K]

Answer:

1 a. Materials price and quantity variances.

Material price variance = (Actual price - Standard price) * Actual Quantity purchased

= ($2.45 - $2) * 15,800

= $0.45 * 15,800

= $7110 (Unfavorable)

Materials Quantity variance = (Actual Quantity used - Standard Quantity allowed) * Standard price

(10600 - 3000 * 3.6) * $2

= (10,600 - 10,800) * $2

= 200 * $2

= 400 (Favorable)

b. Labor rate and efficiency variances.

Labor rate variance = (Actual rate - standard rate) * Actual hours

= (6.30 - 6.6) * 2,100

= 0.3 * 2,100

= 630 (Favorable)

Labor Efficiency variance = (Actual hours - standard hours allowed) * Standard rate

= (2100 - 3000 * 0.5) * 6.6

= (2,100 - 1,500) * 6.6

= 600 * 6.6

= 3960 (Unfavorable)

c. Variable overhead rate and efficiency variances

Variable overhead rate variance = (Actual rate - Standard rate * Actual machine hours)

= 3000 - (2.10 * 1200)

= 3,000 - 2,520

= 480 Unfavorable

Variable overhead Efficiency variance = (Actual hours - standard hours allowed)* Standard rate

= (1200 - 3000 * 0.3) * 2.10

= (1200 - 900) * 2.10

= 300 * 2.10

= 630 (Unfavorable)

2. Variances Amount

Material price variance 7,110 U

Material quantity variance 400 F

Labor rate variance 630 F

Labor efficiency variance 3,960 U

Variable overhead rate variance 480 U

Variable overhead efficiency variance 630 U

Net variance 11,150 U

The net variance of all the variance of the month is 11,150 (Unfavorable)

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3 years ago

Price elasticity of demand is defined as: a. the slope of the demand curve. b. the slope of the demand curve divided by the pric

Mandarinka [93]

Answer: Option D

Explanation: In simple words, price elasticity refers to the degree of change in demand of a commodity with respect to change in its price. It generally shows the fact that when the price of a commodity rises the demand for ti decreases due to various phenomenon coming into force such as income effect etc.

The price elasticity is calculated by dividing the change in quantity demanded with the change in price.

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3 years ago