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3 years ago

Jones Company has the following liabilities at the end of the current year:

Business

1 answer:

makkiz [27]3 years ago

5 0

Answer:

The amount of long-term liabilities to be reported on the Balance Sheet at the end of the current year is $70.000

Explanation:

Concepts / definitions:

Long-term liabilities or noncurrent liabilities are knowns as obligations that companies have to pay in more than 1 year (12 months) or for some companies, after the company’s operating cycle (it is the time that the company takes to convert their inventory into cash).

Examples: Long term leases and bonds (that are generally are designed to be paid in more than one year).

Classification

Notes Payable (current) $ 10,000

Accounts Payable $ 5,000

Salaries Payable $ 2,000

Sales Tax Payable $ 2,000

Current liabilities $ 19,000

Bonds Payable $ 50,000

Notes Payable (long-term) $ 20,000

Long-term liabilities $ 70,000

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Exercise 16-05 a-b (Video) In Waterway Company, materials are entered at the beginning of each process. Work in process inventor

____ [38]

Answer:

(a) Total units for January = 14,200

Total units for May = 23,260

(b). Conversion cost for :

January = 13,053

March = 13,660

May = 21,688

July = 11,212

Explanation:

As per the data given in the question,

Jan. May

Units to be accounted for

Beginning WIP 0 0

Started into production 14,200 23,260

Total number units 14,200 23,260

Units accounted for

Transferred out 11,100 15,400

Ending WIP 3,100 7,860

Total units 14200 15400

We can calculate the conversion cost by using following formula:

Conversion cost = Transferred out unit + (Work in process unit × conversion cost)

Material Conversion cost

Jan. 14,200 13,053 (11,100 + 3,100 × 63%)

Mar. 15,700 13,660 (12,300 + 3,400 × 40%)

May 23,260 21,688 (15,400 + 7,860 × 80%)

July 12,400 11,212 (10,200 + 2,200 × 46%)

7 0

2 years ago

a business plan that provides information on a company, its products or services, its market, and critical risks to prospective

vladimir1956 [14]

A business plan that provides information on a company, its products or services, its market, and critical risks to prospective business or marketing partners or to prospective key employees is called an invention plan.

Invention Plan informs prospective business or marketing partners or key employees about the company, product/service, market, and critical risks.

This business plan should briefly explain ones corporation, ones brand, the main aspects of ones market research, ones strategic plan, ones management, and ones financial plan.

Learn more on business plan -

brainly.com/question/15826771

#SPJ4

4 0

9 months ago

Chang Industries has 2,000 defective units of product that already cost $14 each to produce. A salvage company will purchase the

tiny-mole [99]

Answer:

Sunk cost

Explanation:

-Incremental cost is the total cost of producing an additional unit.

-Sunk cost is a cost that has already been paid and that it is not possible to get it back.

-Out-of-pocket cost is a cost that requires a direct payment in the actual period.

-Opportunity cost is the cost of not receiving a benefit when you choose an alernative over another one.

-Period cost is a cost that is not associated with the production of goods.

According to this, the answer is that the $14 per unit is a sunk cost because the company has already spent that manufacturing the products and it is not able to recover that money.

6 0

3 years ago

A firm offers a 10-year, zero coupon bond with a face value of $1,000. What is the current market price if the yield to maturity

viva [34]

Answer:

Current market price is 474.30

Explanation:

The current price of the bond can be computed using the pv function in excel as stated thus:

=-pv(rate,nper,pmt,fv)

rate is semiannual yield to maturity which is 7.6%/2

nper is the 10 years of bond tenure multiplied by 2

pmt is the coupon payable which is zero

fv is the face value of the bond which is $1000

=-pv(7.6%/2,20,0,1000)=$ 474.30

7 0

2 years ago

Which statement is generally true of an investment that is highly volatile but has superior, long-term real rates of return?

Elenna [48]

Which statement is generally true of an investment that is highly volatile but has superior, long-term real rates of return?

It has low liquidity because selling would often require selling at a loss.

High volatile investments are investments that always fluctuates in the market. It can generate you very high income or very low income. It has low liquidity because when you sell it right away, you tend to sell at a loss.

6 0

3 years ago