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4 years ago

Do you believe initiative is an important quality? Defend your answer.

Business

2 answers:

marishachu [46]4 years ago

8 0

Answer: Yes

Explanation:

Initiative is an important quality every one should have especially young people. It is a quality that shows being responsible. It is ones ability to start a thing independently and see that it succeeds. Taking initiative is a quality most employers look out for in an employee

Olegator [25]4 years ago

3 0

Initiative is an important quality because it proves that you want to do your job or task successfully and independently. Lack of initiative shows laziness and/or low confidence in one's skills.

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Wedd corporation uses activity-based costing to assign overhead costs to products. overhead costs have already been allocated to

Anastasy [175]

Billing.cost.price value . products metrial
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4 years ago

Kansas Enterprises purchased equipment for $79,000 on January 1, 2021. The equipment is expected to have a five-year service lif

svetoff [14.1K]

Answer:

Annual depreciation= $14,420

Book value= $50,160

Explanation:

Giving the following information:

Purchase price= $79,000

Useful life= 5 years

Salvage value= $6,900

To calculate the depreciation expense, we need to use the following formula:

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (79,000 - 6,900) / 5

Annual depreciation= $14,420

Now, the book value:

Book value= purchase price - accumulated depreciation

Book value= 79,000 - (14,420*2)

Book value= $50,160

4 0

3 years ago

After deciding to buy a new car, you can either lease the car or purchase it on a four-year loan. The car you wish to buy costs

Akimi4 [234]

Answer:

a. In order to determine the present value of lease we can use the same APR as the car loan (7%). We can use the present value of an annuity formula:

PV = monthly payment x annuity factor

monthly payment = $509
PV annuity factor, 0.58333%, 48 periods = 41.76344

PV of the annuity = $509 x 41.76344 = $21,257.59

total present value of lease contract = $21,257.59 + $109 = $21,366.59

b. the present value of purchasing the car is $40,000 - $28,000/1.07⁴ = $40,000 - $21,361.07 = $18,638.93

c. the break even resale price = (sales price - PV of lease) x (1 + 7%/12)⁴⁸ = ($40,000 - $21,366.59) x (1 + 0.07/12)⁴⁸ = $18,633.41 x 1.32205 = $24,634.37

8 0

3 years ago

The comparative financial statements prepared at December 31, 2015, for Prince Company showed the following summarized data:

slega [8]

Answer:

Prince Company

1. Component percentages for 2015:

Income statement 2015 Percentage

Sales Revenue 190,900 100%

Cost of goods sold 113,000 59% (113,000/190,900 * 100)

Gross Profit 77,900 41% (77,900/190,900 * 100)

Operating expenses and

interest expense 56,700 30% (56,700/190,900 * 100)

Pretax income 21,200 11% (21,200/190,900 * 100)

Income Tax 6,200 3% (6,200/190,900 * 100)

Net Income 15,000 8% (15,000/190,900 * 100)

Balance Sheet 2015 Percentage

Cash $4,600 4.3% (4,600/106,600 * 100)

Accounts Receivable (net) 15,300 14.4% (15,300/106,600 * 100)

Inventory 40,300 37.8% (40,300/106,600 * 100)

Operational Assets (net) 46,400 43.5% (46,400/106,600 * 100)

Total 106,600 100%

Current liabilities (no interest) 15,100 14.2% (15,100/106,600 * 100)

Long-term liabilities (10%interest) 44,900 42.1% (44,900/106,600 * 100)

Common Stock (par $5) 29,900 28% (29,900/106,600 * 100)

Retained Earnings 16,700 15.7% (16,700/106,600 * 100)

Total 106,600 100%

2. Gross profit percentage for 2015: 41%

Explanation:

a) Data and Calculations:

Income statement 2015 2014

Sales Revenue 190,900 167,300

Cost of goods sold 113,000 102,000

Gross Profit 77,900 65,300

Operating expenses and

interest expense 56,700 53,700

Pretax income 21,200 11,600

Income Tax 6,200 3,100

Net Income 15,000 8,500

Balance Sheet

Cash $4,600 $6,500

Accounts Receivable (net) 15,300 16,900

Inventory 40,300 32,600

Operational Assets (net) 46,400 36,400

Total 106,600 92,400

Current liabilities (no interest) 15,100 16,100

Long-term liabilities (10%interest) 44,900 44,900

Common Stock (par $5) 29,900 29,900

Retained Earnings 16,700 1,500

Total 106,600 92,400

3 0

3 years ago

The board of directors of Yancey Company declared a cash dividend of $1.50 per share on 42,000 shares of common stock outstandin

Ivahew [28]

Answer:

Increase to Cash dividends

Explanation:

The entry on declaration of dividend is Retained earnings debit and credit is given to dividend payable. The cash dividend will increase to shareholders as a result of this action. The dividend payable will increase. Cash is not affected when dividends is declared. Cash is affected only when dividend is paid on August 15, 2017. Cash dividend will not decrease since dividend is paid it will increase. There are total 2 entries passed one on July 15th for dividend declaration and on August 15th for dividend payment. The record date of July 31 is only for determining which shareholders are eligible for dividend and no entry is needed.

5 0

3 years ago