Answer:
Godfrey Corporation
GOLDFREY CORPORATION
Balance Sheet (Partial)
December 31, 2017
Noncurrent assets:
Investments:
Investment In Stock, at fair value $64,100
Stockholders' Equity:
Common stock
Retained earnings
Less :
Unrealized loss $4,900
Explanation:
a) Data and Calculations:
Long-term investment available for sale:
Cost = $69,000
Fair value 64,100
Unrealized loss $4,900
b) The correct entry would have been to reduce the net income by the unrealized loss. However, for simplicity, this is showed as a reduction of the Retained Earnings in the balance sheet.
Production process involves different type of cost and expenses, manufacturing overhead account is one and it is debited when overhead applied is less than the actual overhead costs incurred.
<h3>What is manufacturing overhead cost?</h3>
It is the sum of all the indirect costs that were spent while manufacturing a product.
The amount in the manufacturing overhead account can either be a debit or credit.
It is a debit when the overhead is less than the actual overhead costs that were spent.
Therefore, The manufacturing overhead account is debited when the overhead applied is less than the actual overhead costs incurred.
Learn more manufacturing overhead accounts here
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Answer:
c) a firm does not have sufficient time to change the level of use some of its inputs.
Explanation:
The definition of short-run in economics is not a term to be used for a specific certain period of time but it means that the period of time is too short that the firms cannot change the level they are using of some of their inputs or costs. It means they do have fixed costs they cannot change. For example, all machinery installed, a yearly rent paid, electricity or others that the firm cannot change unless there is sufficient time. In a short period of time, it will have those costs anyway. The firm cannot change the level of that input. And it is short run of at least one input. It may be many. But it is not necessary to have all inputs unchanged to consider that period of time as short-run.
However, firms can change level of inputs if they have more time. That is cost the long run. All costs are variable costs when we are in long run.
Answer:
The correct answer is C. Is top management committed to the study?
Explanation:
Market research is the process that includes the actions of identification, collection, analysis and dissemination of information with the purpose of improving marketing decision making. Its implementation occurs basically for two reasons:
1. to solve problems, for example, determine the potential of a market.
2. to identify problems, for example, to know why a product does not have the expected consumption. In essence, it seeks to meet the customer thus complying with the first premise of marketing.
That is why managers and researchers continually focus on the search for those practices that will allow them to improve the organization and direction of their processes and therefore increase their likelihood of success.
Answer:
Monthly deposit= $164.24
Explanation:
Giving the following information:
Future value= $1,000,000
Interest rate= 0.118/12= 0.00983
Number of periods= 35*12= 420 months
<u>To calculate the monthly deposit, we need to use the following formula:</u>
FV= {A*[(1+i)^n-1]}/i
A= monthly deposit
Isolating A:
A= (FV*i)/{[(1+i)^n]-1}
A= (1,000,000*0.00983) / [(1.00983^420) - 1]
A= $164.24
