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3 years ago

These are selected account balances on December 31, 2017.

Business

1 answer:

lesantik [10]3 years ago

5 0

Answer:

D. $1,725,000

Explanation:

Given the above information,

Total amount of property, plant and equipment = land (location of the office building) + office building + equipment + office furniture - Accumulated depreciation

= $150,000 + $1,200,000 + $675,000 + $150,000 - $450,000

= $1,725,000

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San Francisco Corporation uses two materials in the production of its product. The materials, X and Y, have the following standa

levacccp [35]

Answer:

(1) Material usage variance for X: 1,500 (Favorable)

(2) Material usage variance for Y: -19,500 (Adverse)

Explanation:

Material usage variance for X:

Standard Mix for actual Yield:

= (Standard mix of material X ÷ Yield) × Yield actual mix

= (3,500 ÷ 4,000) × 36,000

= 31,500

Material Usage Variance:

= (Standard Mix for actual Yield- Actual Mix) × Standard unit price

= (31,500-30,000) × $1

= 1,500 (Favorable)

Material usage variance for Y:

Standard Mix for actual Yield:

= (Standard mix of material Y ÷ Yield) × Yield actual mix

= (1,500 ÷ 4,000) × 36,000

= 13,500

Material Usage Variance:

= (Standard Mix for actual Yield- Actual Mix) × Standard unit price

= (13,500 - 20,000) × $3

= -19,500 (Adverse)

Total = (19,500) + 1,500

= (18,000) [Adverse]

4 0

3 years ago

Assuming the company uses US GAAP standards, what is the total cash flow from financing activities?

saveliy_v [14]

Answer:

$30

Explanation:

The cash flows from financing activities will include:

+ issuance of preferred stock

+ issuance of bonds

- paid off long-term bank borrowings

- repurchase of common stock

- dividends paid

cash flows from financial activities = $35 + $50 - $15 - $30 - $10 = $30

The $45 resulting from the debt retired through issuance of common stock was not a financial operation, therefore it is not included in the cash flow form financial activities.

6 0

3 years ago

A firm has sales of $68,400, costs of $42,900, interest paid of $2,100, and depreciation of $6,500. The tax rate is 34 percent.

tankabanditka [31]

Answer:

9.04

Explanation:

TIE ratio = profit excluding interest/interest

expense

Putting value in above equation;

TIE ratio = 68400-42900-6500/2100

TIE ratio = 9.04

7 0

3 years ago

Which of the following statements concerning the reduction of Social Security benefits is (are) correct?

tatiyna

Answer:

b) 2 only

Explanation:

The Social Security Act set up the Old Age and Survivors Insurance Trust Fund (OASI), from which retired individuals receive their payments. These benefits are subject to taxes, and can be withheld if a debt is incurred or an over-payment occurs.

5 0

3 years ago

When going into a partnership, you should always:_________.

Lena [83]

Answer: A. put all terms of the partnership into writing in a partnership agreement.

Explanation:

The most important terms in a partnership agreement is ensuring that all terms are noted down and binded legally, this is to help partners know when need to do something and don't feel cheated or be cheated by someone or something. Avoidance of reaching out to terms noted down will further make things complex either when the business is growing or when there is need to shutdown or during operations.

8 0

3 years ago