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3 years ago

Gilbert City had the following transactions involving resource inflows into its general fund for the year ended June 30, 20X8:

Business

1 answer:

GenaCL600 [577]3 years ago

3 0

Answer:

Gilbert City

A Schedule showing the amount of revenue in the general fund:

1. July 20X7 Property Taxes $2,200,000

2. Apr. 1, 2018 Interest on Advance 1,500

4. 2018 Grant Monies 265,000

5. June 30 Sales Tax 135,000

5. June 30 Additional Sales Taxes 22,000

6. July 20X7 Liquor Licenses 78,000

Total Revenue $2,701,500

Explanation:

Gilbert City, like other government bodies, reports its transactions on the accrual basis. For Gilbert City, this implies that the city will report all revenues receivable, whether actually received or not. And the city only reports the revenues that pertain to the current fiscal period in the current period. Gilbert City's revenues attributed to past and future years do not form part of the revenue for the current period. Gilbert City's reporting basis is in line with the accrual concept and the matching principle of Generally Accepted Accounting Principles.

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Given the following information: Percent of capital structure: Preferred stock 10 % Common equity (retained earnings) 40 Debt 50

sasho [114]

Answer: 8.23%

Explanation:

Firstly, we will calculate the cost of debt which will be:

= Yield (1-Tax rate)

= 9% × (1-0.34)

= 9% × 0.66

= 5.94%

Then, the Cmcost of preferred stock will be:

= 7/(104-9.40)

= 7/(94.6)

= 7.39%

We will also get the value of the cost of equity which will be:

= (Dividend expected common/Price common) + growth rate

= (2.50/76) + 8%

= 3.29% + 8%

= 11.29%

For Debt:

Cost after tax: 5.94

Weight = 50%

Weighted cost = 5.94 × 50% = 2.97

For Preferred stock:

Cost after tax: 7.39

Weight = 1%

Weighted cost = 7.39 × 10% = 0.74

For Common equity

Cost after tax: 11.29

Weight = 40%

Weighted cost = 11.29 × 40% = 4.52

Weighted average cost of capital = 2.97 + 0.74 + 4.52 = 8.23%

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3 years ago

Manufacturing overhead applied on the basis of direct labor-hours was $120,000, while actual manufacturing overhead incurred was

e-lub [12.9K]

Answer:

D) Overhead was underapplied by $4,000.

Explanation:

Overhead is underapplied when the actual balance in the manufacturing overhead control account is larger than the balance in the applied manufacturing overhead account.

In this case, the balance of the manufacturing overhead control is $124,000 while the balance of the applied manufacturing overhead account is $120,000. This means that actual overhead costs were $4,000 higher than budgeted.

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3 years ago

Mengapa Dasar pemerintahan akan menentukan kejayaan sesebuah negara.

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Answer:

The old man was stuck in the rare chance

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3 years ago

During an equal employment opportunity (EEO) investigation, the Equal Employment Opportunity Commission (EEOC) will issue an o

o-na [289]

Answer: Cause or no cause took place

Explanation: There are various steps taken to determine whether there is reasonable cause (evidence exists that workplace discrimination occurred) between employees took place. The EEOC will investigate this situation by applying the following procedures:

1. The EEOC investigator will request that the charging party and the organisation provide information on the situation. The investigator will then go through this info and make a recommendation on if reasonable cause does exist.

2. If the EEOC investigator determines that reasonable cause exists, then this investigator will issue a letter of determination stating this fact, to all parties involved. All the parties including the investigator will then discuss how to resolve this charge through a process known as conciliation.

3. If however it is determined that reasonable cause for workplace discrimination did not take place, then the investigator will issue the charging party and the organisation with a dismissal and notice of rights document. This document stipulates that the charging party has 90 days to file a lawsuit in federal court if he/she decides to take further action against the organisation.

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3 years ago

Betram Chemicals Company processes a number of chemical compounds used in producing industrial cleaning products. One compound i

Dmitry [639]

Answer:

Betram Chemicals Company

1. Relevant benefits and costs for each alternative:

Sale at split-off Sale after

further processing

Revenue $129,420 $238,620

Joint Costs 73,000 73,000

Cost for further processing - 42,000

Gross profit $56,420 $123,620

Additional profit $0 $67,200

2. Further processing of Anderine is more cost-effective by $67,200.

3. Further processing of Anderine is still better by $60,760.

Explanation:

a) Data and Calculations:

Anderine Dofinol Cermine Total Costs

Gallons 5,600 7,600 $73,000 $73,000

Selling price per gal. $13.00 $7.45

Sales revenue $72,800 $56,620 $129,420

Gross profit $56,420

Further processing $42,000

Total costs of production $115,000 $115,000

Output (5,600) 7,600 2,800

Selling price per gallon $7.45 $65

Sales revenue $56,620 $182,000 $238,620

Gross profit $123,620

Profit from further processing:

Gross profit with further processing $123,620

Gross profit before further processing 56,420

Additional profit $67,200

1. Relevant benefits and costs for each alternative:

Sale at split-off Sale after

further processing

Revenue $129,420 $238,620

Joint Costs 73,000 73,000

Cost for further processing - 42,000

Gross profit $56,420 $123,620

Additional profit $0 $67,200 ($123,620 - $56,420)

What if:

Purchasing order cost (5,600/500 * 20 * $10) = $2,240

Quality inspection cost (5,600/500 * 15 * $25) = $4,200

Additional costs = $6,440

Reduced additional profit = $60,760 ($67,200 - $6,440)

4 0

3 years ago