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3 years ago

WHO IS THE FATHER OF ACCOUNTANCY ?

Business

1 answer:

sveta [45]3 years ago

3 0

Answer:

Luca Pacioli

Explanation:

Luca Pacioli a European accountant is known as The Father of accountancy.

Luca Pacioli introduced the use of journals and ledgers in accounting systems.

His work in accounting was appreciated worldwide. His first book was based on double- entry accounting. He has introduced the concept of Dual Aspects which has paved the way for the double-entry system .

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If demand is inelastic, a drought around the world would ___the total revenue that farmers receive from the sale of grain.

Elena L [17]

Answer:

Raises ;

C. A drought in Kansas is not significant enough to affect the worldwide price of grain.

Explanation:

Drought is a situation where there is shortage of water due to prolong absence of rainfall.

This is because, when Kansas has a drought, purchasers or buyers can substitute wheat from other places for Kansas wheat.

But, when the whole world has a drought, purchasers or buyers have no other suppliers of wheat to substitute. This means that, no area will have wheat so that the buyers can buy, because every area will be affected by the drought.

In this case,the demand for wheat is inelastic in the short run.

7 0

3 years ago

Read 2 more answers

During its most recent fiscal year, Dover, Inc. had total sales of $3,060,000. Contribution margin amounted to $1,430,000 and pr

Ahat [919]

Answer:

$1,135,000

Explanation:

Data provided as per the question

Contribution = $1,430,000

Income = $295,000

The calculation of fixed cost is shown below:-

Income = Contribution - Fixed cost

Fixed cost = Contribution - Income

= $1,430,000 - $295,000

= $1,135,000

Therefore, for computing fixed cost we simply deduct Income from contribution.

7 0

3 years ago

Consider the following information for Evenflow Power Co., Debt: 5,000 6.5 percent coupon bonds outstanding, $1,000 par value, 1

melamori03 [73]

Answer:

WACC 10.07765%

Explanation:

We solve for the cost of debt by solving for the discount rate which makes the future coupon payment and maturity of the bond equal to 1,020

This is solved using excel or a financial calculator

$C \times \frac{1-(1+r)^{-time} }{rate} = PV\\$

C 32.50

time 34

rate 0.03153274

$32.5 \times \frac{1-(1+0.03153274)^{-34} }{0.0315327401919093} = PV\\$

PV $672.0015

$\frac{Maturity}{(1 + rate)^{time} } = PV$

Maturity 1,000.00

time 34.00

rate 0.03153274

$\frac{1000}{(1 + 0.03153274)^{34} } = PV$

PV 348.00

PV c $672.0015

PV m $347.9985

Total $1,020.0000

annual cost of debt:

0.031532 x 2 = 0.063064 = 6.31%

debt outstanding:

5,000 bonds x $ 1,000 x 102/100 = 5,100,000

equity:

105,000 shares x $59 each = 6,195,000

For the equity we solve using CAMP

$Ke= r_f + \beta (r_m-r_f)$

risk free = 0.05

market rate = 0.09

premium market = (market rate - risk free) 0.085

beta(non diversifiable risk) = 1.17

$Ke= 0.05 + 1.17 (0.085)$

Ke 0.14945

Now we solve for the WACC

$WACC = K_e(\frac{E}{E+D}) + K_d(1-t)(\frac{D}{E+D})$

D 5,100,000

E 6,195,000

V 11,295,000

Equity weight 0.5485

Debt Weight 0.4515

Ke 0.14945

Kd 0.0631

t 0.34

$WACC = 0.14945(0.5485) + 0.0631(1-0.34)(0.4515)$

WACC 10.07765%

7 0

3 years ago

Bagley Corporation expects to incur $900,000 of factory overhead and $600,000 of general and administrative costs next year. Dir

Burka [1]

Answer:

Overheads apply = $2,400

Explanation:

given data

factory overhead = $900,000

general and administrative costs = $600,000

per hour = $20

Direct labor costs = $300,000

solution

we know here Total direct labor hours that is

Total direct labor hours = $\frac{$300000}{$20}$

Total direct labor hours = 15,000 direct labor hours

so here Factory overheads per direct labor hour will be

Factory overheads per direct labor hour = $\frac{900000}{15000}$

Factory overheads per direct labor hour = $60 per direct labor hour

so here Overheads applied to Job will be

Overheads apply = 40 direct labor hours × $60 per direct labor

Overheads apply = $2,400

3 0

3 years ago

Southeast Airline had retained earnings of $1.5 million, sales of $5 million and net income of $0.5 million this year. It also p

tatyana61 [14]

Answer:

$1.86 million

Explanation:

Given the above data, we can calculate the retained earning for next year to be;

Retained earning this year end = $1.5 million retained earning at the beginning + $0.5 million net income - $0.2 million dividends

= $1.8 million

8 0

3 years ago

WHO IS THE FATHER OF ACCOUNTANCY ?​

WHO IS THE FATHER OF ACCOUNTANCY ?