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Blababa [14]
3 years ago
5

Requirement 1. Identify each account as an asset​ (A), liability​ (L), or equity​ (E). Asset (A), Liability (L), or Equity (E)?

a. Interest Revenue b. Accounts Payable c. Calhoun, Capital d. Office Supplies e. Advertising Expense f. Unearned Revenue g. Prepaid Rent h. Utilities Expense i. Calhoun, Withdrawals j. Service Revenue Requirement 2. Identify whether the account is increased with a debit​ (DR) or credit​ (CR). Increases with a debit (DR) or credit (CR)? a. Interest Revenue b. Accounts Payable c. Calhoun, Capital d. Office Supplies e. Advertising Expense f. Unearned Revenue g. Prepaid Rent h. Utilities Expense i. Calhoun, Withdrawals j. Service Revenue Requirement 3. Identify whether the normal balance is a debit​ (DR) or credit​ (CR). Normal balance is a debit (DR) or credit (CR)? a. Interest Revenue b. Accounts Payable c. Calhoun, Capital d. Office Supplies e. Advertising Expense f. Unearned Revenue g. Prepaid Rent h. Utilities Expense i. Calhoun, Withdrawals j. Service Revenue
Business
1 answer:
motikmotik3 years ago
5 0

Answer:

a. Interest Revenue

Identification: Asset

Increases with: Debit

Normal Balance: Debit

b. Accounts Payable

Identification: Liability

Increases with: Credit

Normal Balance: Credit

c. Calhoun, Capital

Identification: Equity

Increases with: Credit

Normal Balance: Credit

d. Office Supplies

Identification: Asset

Increases with: Debit

Normal Balance: Debit

e. Advertising Expense

Identification: Liability

Increases with: Credit

Normal Balance: Credit

f. Unearned Revenue

Identification: Liability

Increases with: Credit

Normal Balance: Credit

g. Prepaid Rent

Identification: Asset

Increases with: Debit

Normal Balance: Debit

h. Utilities Expense

Identification: Liability

Increases with: Credit

Normal Balance: Credit

i. Calhoun, Withdrawals

Identification: Equity

Increases with: Debit

Normal Balance: Debit

j. Service Revenue

Identification: Asset

Increases with: Debit

Normal Balance: Debit

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You are given the following information for Watson Power Co. Assume the company’s tax rate is 23 percent. Debt: 8,000 5.7 percen
____ [38]

Answer:

the company's WACC is 10.04%

Explanation:

Weighted Average Cost of Capital (WACC) is the minimum return that a project must offer before it can be accepted. It shows the risk of the company.

<em>Capital Source           Market Value        Weight           Cost Total     Weight</em>  

Debt                            $8,400,000            27.71%             4.389 %      1.22%

Common stock           $24,190,000           71.17%              12.2%         8.68%

Preferred stock           $1,400,000              4.12%               3.5%         0.14%

Total                          $ 33,990,000          100.00%                            10.04%

<u><em>Calculation of Market Value and Cost of Debt</em></u>

Market Value = 8,000×($1,000×105%) = $8,400,000

Cost of Debt = interest × (1 - tax rate)

                      = 5.7% × ( 1-0.23)

                      =  4.389 %

<u><em>Calculation of Market Value and Cost of </em></u><u>Common stock</u>

Market Value = 410,000× $59 = $24,190,000

Cost of Common stock = Risk free Rate + Beta × Market Premium

                                       = 4.5% + 1.10× 7%

                                       = 12.2%

<u><em>Calculation of Market Value and Cost of </em></u><u>Common stock</u>

Market Value = 17,500× $80 = $1,400,000

Cost of Preferred stock = 3.5%

7 0
3 years ago
S'Round Sound, Inc. reported the following results from the sale of 24,000 units of IT-54:
Alisiya [41]

Answer:

The correct answer is D.

Explanation:

Giving the following information:

Total Variable manufacturing costs 288,000

Unitary variable costs= 288,000/24,000= $12

Rhythm Company has offered to purchase 3,000 IT-54s at $16 each. No variable selling costs will be incurred.

Because it is a special offer and there is available capacity, we will not have into account the fixed costs.

Effect on income= 3,000*(16-12)= $12,000 increase

3 0
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