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Murrr4er [49]
2 years ago
10

ABC Corporation reports the following information:

Business
1 answer:
Tpy6a [65]2 years ago
7 0

Answer:

$480,000

Explanation:

Data provided as per the question below:-

Net income = $380,000

Depreciation = $70,000

Decrease in accounts receivable = $30,000

The computation of cash provided by operating activities is shown below:-

= Net income + Depreciation + Decrease in accounts receivable

= $380,000  + $70,000  + $30,000

= $480,000

Therefore we applied the above formula.

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Beau said to a close friend, "I am fed up with my company's continual disregard for the environment. They secretly dispose of ha
RideAnS [48]

Answer:

Beau's decision to tell somebody about his company's actions is an example of: whistle blowing

Explanation:

Ethics is the study of moral human behavior. Ethical behavior usually varies with different areas. What is considered ethical is always subject to the cultural standards of that particular place. In a company environment, there are ethical standards that are supposed to be met on the part of the company and also individuals working in the company.

One major ethical standard that companies must maintain is environmental protection. This is more prevalent in manufacturing companies that have to release toxic waste to the environment in the form of fumes to the atmosphere or liquid waste to rivers and water bodies. The environment is used by all living beings and therefor it needs to be protected. Ethical standards dictate that industrial waste should be kept below toxic levels before being released into the environment.

It is also ethical for any individual working in a company and has information about unethical practices of a company to publicly expose the company so that they can be held accountable for their actions. This is referred to as whistle blowing. Beau's decision to inform a newspaper reporter about the actions of the company in destroying the environment is an example of whistle blowing. Her decision is a typical example of ethical behavior.

8 0
3 years ago
Multiple Choice Question 71 Boswell Company manufactures two products, Regular and Supreme. Boswell’s overhead costs consist of
seropon [69]

Answer:

Allocated MOH=  $5,250,000

Explanation:

Giving the following information:

Overhead costs:

Machining = $5,000,000

Assembling= $2,500,000

Regular:

Direct labor hours= 10,000

Machine hours= 10,000

Number of parts= 90,000

Supreme:

Direct labor hours= 15,000

Machine hours= 30,000

Number of parts= 160,000

First, we need to calculate the estimated overhead rate for each department. For Machining, we will use the machine hours. For Assembling, we will use the direct labor hours.

To calculate the estimated manufacturing overhead rate we need to use the following formula:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

<u>Machining:</u>

Estimated manufacturing overhead rate= 5,000,000/ (10,000 + 30,000)= $125 per machine hour

<u>Assembling:</u>

Estimated manufacturing overhead rate=  2,500,000/(25,000)= $100 per direct labor hour

Now, we can allocate overhead to supreme.

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= (125*30,000) + (100*15,000)= $5,250,000

6 0
2 years ago
Career Services, Incorporated sold some office equipment for $52,000 on December 31, 2021. The journal entry to record the sale
Papessa [141]

Answer:

Date of selling machine is 31 Dec 2021, then gain of $47,000

If date of selling this machine is 31 Dec 2012 (used tenor: 4 years), then gain of 2,000

Explanation:

Depreciation per year = (original cost $80,000  - residual value $5,000)/ useful life of 10 years

= $7,500 per year

Date of purchase: January 1, 2009

Date of sold:  December 31, 2021

⇒ Actual life of this machine = 13 years, but the maximum depreciation as accounting rule is for 10 year only

After 13 years, the book value = original cost - depreciation booked

= $80,000 - $7,500*10 = $5,000

Gain/ Loss =  sold price - boo value = $52,000 - $5,000 = $47,000

If date of selling this machine is 31 Dec 2012 (used tenor: 4 years), then we have:

Gain/ Loss = sold price - book value

= $52,000 - ($80,000 - $7,500*4) = 2,000

4 0
3 years ago
Use the compound interest formula to determine the accumulated balance after the stated period. ​$60006000 invested at an APR of
My name is Ann [436]

Answer:

The final value of the investment after 3 years is $7,146.10

Explanation:

Giving the following information:

Investment= $6,000

Interest rate= 6​% compounded annually

The number of years= 3 years.

To calculate the final value, we need to use the following formula:

FV= PV*(1+i)^n

FV= 6,000*(1.06^3)

FV= $7,146.10

The final value of the investment after 3 years is $7,146.10

3 0
3 years ago
Mills Corporation acquired as a long-term investment $200 million of 7% bonds, dated July 1, on July 1, 2018. Company management
Evgen [1.6K]

Answer:

investment on bonds   200 millions

premium on bonds         40 millions

                        cash                            240 millions

to record the purchase of bonds

cash                             7 millions

      interest revenue             6 millions

      premium on bonds         1 million

interest proceeds of december 31th

Balance sheet:

bonds      200

premium    39

net            239

cash                                             250 millions

              investment on bonds                         200 millions

              premium on bonds                               39 millions

              gain on sale of invesment                    11   millions

to record the sale of bonds

                       

Explanation:

<u>recording the bonds:</u>

acquisition             240

bonds face value (200)

premium                  40

It is a premium, as the bonds where purchased at higher price than face value

<u>Interest at December 31th</u>

To calculate the interest, we will calcualte the interest per payment:

7% annual coupon rate /2 payment per year = 3.5% semi-annual rate

5% market rate /2 payment per year = 2.5% semi-annual market rate

cash proceeds: 200 x 3.5% = 7

interest revenue:

carrying value x market rate

240 x 2.5% = 6

amortization 7 - 6 = 1

<u>Value in the balance sheet:</u>

the net value of the bond will be the face value plus the carrying value of the premium

<u>Sale of the bonds:</u>

selling price                           250

carrying value of the bonds (239)

gain on sale of bonds              1 1

It is a gain, as the bonds are being sold at a higher price than his carrying value.

7 0
3 years ago
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