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Olenka [21]
3 years ago
14

On December 31, 2020, McDaniel Company had $1,200,000 of short-term debt in the form of notes payable due February 2, 2021. On J

anuary 21, 2021, the company issued 25,000 shares of its common stock for $38 per share, receiving $950,000 proceeds after brokerage fees and other costs of issuance. On February 2, 2021, the proceeds from the stock sale, supplemented by
Business
1 answer:
o-na [289]3 years ago
8 0

Answer and Explanation:

The preparation is presented below:

<u>                                                  McDaniel Company </u>

<u>                                                  Partial balance sheet</u>

Particulars                                      Amount

Current liabilities

Note payable                                 $250,000

Long term debt

Note payable refinance                $950,000

Total liabilities                                $1,200,000

We simply added the long term debt and the current liabilities so that the total liabilities could come

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Your friend Burrell says that the government should hire fewer social workers in order to reduce the cost of federal assistance
BARSIC [14]

Answer: b) peoples' responses to financial incentives.

Explanation:

Burrell would be wrong because the most leakage in federal assistance programs comes from the way people respond to financial incentives.

Some people who have received this assistance from the Federal government have decided that it would be better to keep receiving this assistance instead of working to actually get paid.

This has led to more people seeking assistance thereby increasing the number of people needing assistance and invariably increasing the cost of these federal assistance programs.

4 0
3 years ago
Suppose the Japanese economy has been experiencing slow growth. As a result, the Prime Minister, who thinks John Maynard Keynes
snow_tiger [21]

Answer: The recessionary gap will be equal to 1 trillion yen divided by 2.5 or 0.4 trillion yen

Explanation:

From the question, we are informed that GDP gap of 1 trillion yen and the marginal propensity to consume (MPC) is 0.60. Also, to close the GDP gap, the prime minister has decided to increase government spending. This means that there will be a recessionary gap because the actual GDP will be less than the potential GDP.

Fir the economy to be brought to its potential GDP, the spending of the government will give a stimulus to the economy. Since MPC is 0.6, the multiplier will be:

= 1/1-MPC

= 1/1 - 0.6

= 1/0.4

= 2.5

The government spending will then increase in order to close the recessionary gap as:

∆Y = ∆G × Multiplier

100 = ∆G × 2.5

∆G = 100/2.5

∆G = 40

Therefore, the recessionary gap will be equal to 1 trillion yen divided by 2.5 or 0.4 trillion yen.

4 0
3 years ago
Prepare comparative income statements for the company as a whole under two alternatives: (1) the retention of segment a and (2)
trapecia [35]

Answer:

There is no data given in the question, a similar question is attached with this answer and answer was made accordingly.

Comparative Statement is made in the MS Excel File which is attached with this answer, Please find it.

Explanation:

a.

All the items except the president salary are relevant to the segment A, because these costs are particularly for incurred for Seg. A. A a single unit the Segment A is making the profit of $11,000. Allocation of president salary is the major reason for the loss.

b.

Keeping Segment A makes is a more profitable decision than Eliminating the segment A. because share of president salary associated with segment A is allocated to other segments and Segment A was contributing $11,000 in  the president salary at break-even. This contribution is lost when we Eliminate the Segment A.

6 0
2 years ago
Fixed expenses are $625,000 per month. The company is currently selling 9,000 units per month. The marketing manager would like
Lubov Fominskaja [6]

Answer:

Decrease of $40,800 after introducing new marketing policy

Explanation:

As per the data given in the question,

Profit = Sales - Total cost

= 9,000 × $100 - ( 9,000 × $20 + $625,000)

= $95,000

To calculate new profit:

New unit = 9,000 + 800 = 9,800 units

Selling price = $100 - $6 = $94 per unit

Fixed cost = $625,000 + $46,000

= $671,000

Now Profit = $94 × 9,800 - ($20 × 9,800 + $671,000)

= $54,200

Since, introducing the new marketing policy profit will be decreased = $95,000 - $54,200

= $40,800

Hence, There will be decrease of $40,800

3 0
3 years ago
Bombs Away Video Games Corporation has forecasted the following monthly sales:
levacccp [35]

Answer:

I have attached the excel file which shows the entire calculation of all the parts of your question. Majority of the numbers are linked so that its easy for you to understand. Key points before you look into file.

1) Number of units have derived by dividing revenue over sales price per unit which is $5

2) Production units are calculated by dividing total sales unit by 12 (as mentioned in the question)

3)Keep in mind that 80% of revenue will be received next month of the sales therefore also include in January sales receipt the 80% revenue of previous month

Explanation:

Download xlsx
7 0
2 years ago
Read 2 more answers
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