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3 years ago

The following is the ending balances of accounts at December 31, 2018 for the Weismuller Publishing Company.

Business

1 answer:

Crazy boy [7]3 years ago

8 0

Answer:

Weismuller Publishing Company

A Classified Balance Sheet at December 31, 2018

Assets:

Current Assets:

Cash $77,000

Accounts Receivable 172,000

less allowance 22,000 150,000

Investments 152,000

Inventories 291,000

Prepaid Expenses 94,000 $764,000

Long-term Assets:

Prepaid Expenses 66,000

Machinery & Equipment 332,000

less Accumulated Depr. 116,000 216,000 $282,000

Total Assets $1,046,000

Current Liabilities:

Accounts payable $66,000

Interest payable 26,000

Deferred revenue 86,000

Taxes payable 36,000

Notes payable:

Six months 46,000

One year 26,000 72,000 $286,000

Long-term Liabilities:

Notes payable:

Two or more years 52,000

Six years 106,000 $158,000

Total Liabilities $444,000

Equity:

Authorized Common Stock, 700,000 shares

Issued Common Stock $406,000

Retained Earnings 196,000 $602,000

Total Liabilities + Equity $1,046,000

Explanation:

a) Prepaid Expenses are classified as follows:

Current Assets: $160,000 - $66,000 = $94,000

Long-Term Assets = $66,000 ($132,000/2)

Since a year's lease is due in the next year.

b) Investments are classified as current because they include treasury bills maturing on January 30, 2019, and marketable securities saleable next year.

c) Deferred Revenue is a current liability.

d) The classifications of notes payable are indicated in the balance sheet.

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You are bearish on Telecom and decide to sell short 100 shares at the current market price of $50 per share.

Elden [556K]

Answer:

A. $2,500

B. $60

Explanation:

A. Calculation to determine How much in cash or securities must you put into your brokerage account if the broker's initial margin requirement is 50% of the value of the short position

Initial Margin = 100*$50*50%

Initial Margin = $2,500

Therefore The amount of securities that you must put into your brokerage account if the broker's initial margin requirement is 50% of the value of the short position is $2,500

b. Calculation to determine How high can the price of the stock go before you get a margin call if the maintenance margin is 30% of the value of the short position

First step is to calculate the Maintenance Margin per share

Maintenance Margin per share = $50*30%

Maintenance Margin per share =$15

Second step is to calculate the Rise in price required

Rise in price required = $50*50% - $15

Rise in price required= $10

Now let calculate How high can the price of the stock go

Price of stock=$50+$10

Price of stock= $60

Therefore How high can the price of the stock go before you get a margin call if the maintenance margin is 30% of the value of the short position is $60

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3 years ago

Ivanhoe purchased a patent from Vania Co. for $1,240,000 on January 1, 2018. The patent is being amortized over its remaining le

Julli [10]

Answer: $744,000

Explanation:

The amount that should be reported in the balance sheet for the patent, net of accumulated amortization, at December 31, 2020 will be:

First, we have to calculate the amortization recorded up to 2019. This will be:

= (1,240,000 / 10) x 2

= 248,000

The we calculate the amortization to be recognized in 2020. This will be:

= (1,240,000 – 248,000) / 4

= 248,000

The amount that should be reported in the balance sheet for the patent, net of accumulated amortization, at December 31, 2020 will be:

= 1240000 - 248000 - 248000

= $744,000

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3 years ago

C&A sells T-shirts for $20 that cost $5 to produce. The annual holding cost percentage is 10% and the T-shirts turn 25 times

Angelina_Jolie [31]

Answer:

B. $0.02

Explanation:

The computation is shown below:

Since the annual holding cost percentage is 10% and the cost of production is $5. So, the holding cost would be

= $5 × 10%

= 0.5

Now if the t-shirts run 25 times a year, so the holding cost would be

= 0.5 ÷ 25 times

= $0.02

Simply we compute the holding cost based on number of times the t-shirt turns in a year

All other information which is given is not relevant. Hence, ignored it

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3 years ago

The number of shares issued represents the number of shares ______. Multiple choice question. the company is allowed to sell sol

skad [1K]

Answer:

sold

Explanation:

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3 years ago

Has any questions or problems.

bearhunter [10]

Answer:

Customer relationship management (CRM).

Explanation:

CRM is an acronym for customer relationship management and it typically involves the process of combining strategies, techniques, practices and technology so as to effectively and efficiently manage their customer data in order to improve and enhance customer satisfaction. Therefore, these employees are saddled with the responsibility of ensuring the customer are satisfied and happy with their service at all times.

This ultimately implies that, customer relationship is focused on developing an ongoing connection between a business firm (organization) and all of its customers, as well as potential customers. The fundamentals of customer relationship is based on improving marketing communications, sales support, technical assistance and customer service so as to bring satisfaction to the customers.

Hence, the degree of satisfaction received by customers throughout their lifecycle is largely dependent on customer relationship management.

5 0

3 years ago