1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
andre [41]
3 years ago
12

Carlisle State College had the following account balances for the year ended and as of June 30, 2018. Debits are not distinguish

ed from credits, so assume all accounts have a "normal" balance.
Additions to permanent endowments 400,000
Auxiliary enterprise revenue 4,200,000
Capital grants and gifts 300,000
Depreciation expense 1,400,000
Employee Benefits 1,975,000
Federal grants and contracts revenue 2,000,000
Gifts 700,000
Interest on capital-related debt 450,000
Investment income 220,000
Net position, beginning of year 11,450,000
Nonexempt wages 1,500,000
Other operating expenses 900,000
Salaries-exempt staff 2,300,000
Salaries-faculty 6,500,000
Scholarship tuition and fee contra revenue 300,000
Scholarships and fellowships expense 315,000
State and local grants and contracts revenue900,000
State appropriation for operations 4,970,000
State appropriations for capital additions 250,000
Student tuition and fee revenue 8,450,000
Required
Prepare, in good form, a Statement of Revenues, Expenses, and Changes in Net Position for Carlisle State College for the year ended June 30, 2017.
Business
1 answer:
Dennis_Churaev [7]3 years ago
8 0

Answer:

Statement of Revenues, Expenses, and Changes in Net Position

Particulars                                                             Amount $

Operating revenue

Auxiliary enterprise revenue                               4,200,000

Student tuition and fee revenue                         8,450,000

Scholarship tuition and fee contra revenue       300,000

State and local grants and contracts revenue   <u>900,000</u>

Total Operating revenue                                    13,850,000

Operating Expenses

Depreciation expense                                         1,400,000

Employee Benefits                                                 1,975,000

Nonexempt wages                                                 1,500,000

Other operating expenses                                     900,000

Salaries-exempt staff                                            2,300,000

Salaries-faculty                                                      6,500,000

Scholarships and fellowships ex                             315,000

Total Operating Expenses                                  <u>14,890,000</u>

Operating Profit                                                   (1,040,000)

Non-Operating Revenue / (Expenses)

State appropriation for operation                         4,970,000

State appropriations for capital additions               250,000

Gifts                                                                            700,000

Interest on capital-related debt                               (450,000)

Federal grants and contracts revenue                 2,000,000

Investment income                                                    220,000

Additions to permanent endowments                     400,000

Capital grants and gifts                                             300,000

Total non-operating income/expenses               <u>(8,390,000)</u>

Net Position                                                            7,350,000

(Total non-operating income - Operating Profit)  

Net position, beginning of year                           <u>11,450,000</u>

Net Position at the end of the year                     <u>18,800,000</u>

/

You might be interested in
When deciding on output levels, members of a cartel A. Set their output where MR=MC B. Produce the same level of output as if th
siniylev [52]

Answer: Option(D) is correct.

Explanation:

Correct option:  Act as if they were monopolies.

Cartel is a group of few firms that work towards the common goal. Because all the cartel members works together, that's why they act like a monopolies.

They decided to produce at a level where their combined marginal revenue is equal to the combined marginal cost.

Because they behave like a monopolist, so they sell lesser quantity at a higher prices than would be in a perfectly competitive market.

3 0
3 years ago
Which of the following factors is unique to B2B buying and is not typically found in B2C buying?
Arisa [49]

Answer:

There are limited number of large buyers, often geographically

Explanation:

3 0
3 years ago
Look at the sales prices change that is being suggested. In particular, Winetki talks about one of the product's prices as doubl
PilotLPTM [1.2K]

The calculation of a revised break-even point in units for the firm as a whole, using the weighted-average contribution margin approach is 1,155,556 units.

<h3>What is the weighted-average contribution margin?</h3>

The weighted-average contribution margin shows the average amount that a group of products or services contribute to meet the fixed costs.

The weighted-average contribution margin can be computed as Aggregate sales - Aggregate variable expenses) ÷ Number of units sold.

<h3>Data and Calculations:</h3>

Aggregate sales revenue = $1,800,000

Aggregate variable costs = $1,125,000

Aggregate contribution margin = $675,000 ($1,800,000 - $1,125,000)

Total units sold = 1,500,000

Total fixed costs = $520,000

Weighted average contribution margin = $0.45 ($675,000/1,500,000)

Break-even point in units = 1,155,556 units ($520,000/$0.45)

Thus, the calculation of a revised break-even point in units for the firm as a whole, using the weighted-average contribution margin approach is 1,155,556 units.

Learn more about break-even analysis at brainly.com/question/21137380

#SPJ1

4 0
1 year ago
Kenny Electric Company's noncallable bonds were issued several years ago and now have 20 years to maturity. These bonds have a 9
murzikaleks [220]

Answer:

d. 5.08%

Explanation:

We have to first calculate the YTM of the bond, and then apply the tax shield.

To get the YTM we have to calculate the rate of return of an annuity of 46.25 for 20 years compounding semiannually at IRR rate and the present value of the face value redeem in 20 years.

C \times \frac{1-(1+r)^{-time} }{rate} +Face\:Value/(1+rate)^{time}= PV\\

46.25 \times \frac{1-(1+IRR/2)^{-20*2} }{rate} + 1000/(1+IRR)^{20}= 1075\\

IRR = 0.084656891 (it should be done using financial calculator or excel or a similar software program)

then we apply the shield tax to the IRR:

IRR x (1 - tax-rate) = Cost of debt

0.084656891 * ( 1 - 0.4) = 5.0794= 5.08

3 0
3 years ago
Use the following selected 2016 balance sheet and income statement information for Home Garden Supply Co. (in millions) to compu
zepelin [54]

Answer:

3.76 times

Explanation:

The computation of the asset turnover is shown below:

Asset turnover = Net sales ÷ Average total assets

= $1,356,504 ÷ $360,600

= 3.76 times

By dividing the net sales from the average total assets, the asset turnover could arrive i.e 3.76 times

This is the answer but the same is not provided in the given options

8 0
3 years ago
Other questions:
  • Which account is used with a periodic inventory system?
    9·1 answer
  • What is an advantage of government bonds?
    6·2 answers
  • Weighted Average Cost Flow Method Under Perpetual Inventory System The following units of a particular item were available for s
    9·2 answers
  • Assume that kubin company produced 20,000 units and expects to sell 19,800 of them. if a new customer unexpectedly emerges and e
    8·1 answer
  • The following data (in thousands of dollars) have been taken from the accounting records of Rayburn Corporation for the current
    15·1 answer
  • A company purchased a 3-acre tract of land for a building site for $480,000. The company demolished the old building at a cost o
    12·1 answer
  • E7.5 (LO 2) (Recording Sales Gross and Net) On June 3, Arnold Company sold to Chester Company merchandise having a sale price of
    7·1 answer
  • On November 10 of the current year, Flores Mills sold carpet to a customer for $8,000 with credit terms 1/10, n/30. Flores uses
    7·1 answer
  • Which of the following best describes nationalization? (as opposed to nationalism!) Group of answer choices outsourcing of gover
    6·1 answer
  • The Big Black Bird Company​ (BBBC) has a large order for special​ plastic-lined military uniforms to be used in an urgent milita
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!