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ahrayia [7]
3 years ago
9

Rodriguez Corporation issues 10,000 shares of its common stock for $196,400 cash on February 20. Prepare journal entries to reco

rd this event under each of the following separate situations.
Business
1 answer:
emmainna [20.7K]3 years ago
3 0
I’m not going to be able to get my homework homework but I’m not gonna be going back to school
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At the beginning of the year, Rangle Company expected to incur $64,000 of overhead costs in producing 6,400 units of product. Th
Studentka2010 [4]

Answer:

$48,000

Explanation:

The total cost of the units produced in the month is the sum of the direct and indirect cost. The indirect cost is also known as the overheads.

The direct cost is the sum of the direct labor and direct material cost.

Total direct cost = 600( $30 + $40)

= $42000

Indirect cost = 600/6400 * $64,000

= $6000

The total cost of the units made in January was

= $42000 + $6000

= $48,000

6 0
3 years ago
Read 2 more answers
The App Store needs to raise $2.8 million for expansion. The firm wants to raise this money by selling 20-year, zero-coupon bond
DENIUS [597]

Answer:

10,064 bonds

Explanation:

Given:

Amount to be raised = $2,800,000

Par value (FV) = $1,000

Maturity (nper) = 20×2 = 40 periods

Yield (rate) = 6.49 ÷ 2 = 3.245% or 0.03245

Coupon payment is 0 as it's a zero coupon bond.

Assume it's compounded semi-annually.

Calculate the price of the bond today using spreadsheet function =PV(rate,nper,pmt,FV)

Price of bond is $278.23

PV is negative as it's a cash outflow.

Number of bonds to be sold = Total amount to be raised ÷ Price of bond

                                                = 2,800,000 ÷ 278.23

                                                = 10,064 bonds

Company should sell 10,064 bonds to raise $2.8 million

5 0
3 years ago
What has been mostly responsible for advancing from the agricultural age to the industrial age?
Ivan
Innovation is the correct answer to this question.
7 0
3 years ago
Read 2 more answers
Black Sparrow Aviation, Inc. is concerned they are not maintaining adequate liquidity. The accounting department has provided yo
viktelen [127]

Answer:

Black Sparrow Aviation, Inc.

1. Indications from ratios about Black Sparrow Aviation:

The current ratio of 4.5 is higher than the industry's norm of 4.0.  This indicates that working capital elements are not being managed properly.  This is supported by the the remaining four ratios.  Inventory level is not optimal.  More inventory is held without being sold to customers.  Obviously, from the inventory turnover of 6.0 translating to approximately 61 days that it takes the company to sell its inventory as against the industry average of 35 days, it shows that the marketing and sales forces lack stamina.  Debt collection from customers is over-delayed, showing poor credit policy and management.  Perhaps, it takes the company many days to issue invoices.  More time than necessary is allowed to customers to pay compared to the industry norm.  In addition, payments are made to suppliers 11 days earlier than the industry average.  Advantage is not being taken of trade credit offered by suppliers.   Trade credit is an important source of funding operations, which every company should utilize to the maximum.

2A.  Based on the above ratios, I would recommend:

1. Minimum inventory should be maintained.

2. Sales efforts should be intensified, so that more sales are made each year than it is currently the case.

3. Debt collection is an important activity for every company that sells on account.  This activity should be taken seriously.  Credit extension to customers should not exceed 50 days.

4. Payments to suppliers can be delayed by more 10 days without offending suppliers.

2B. Results from Recommendations:

1. Working capital is not tied in inventory.

2. More debts are recovered from customers and on time.  Delay increases credit default.

3. More sales are made to customers, increasing the turnover.  The profit is always in the frequency of turnover.

4. Short-term financing is obtained from suppliers, which strengthens liquidity.

Explanation:

Liquidity management is a financial management tool, which describes a company's ability to meet financial obligations through cash flow, funding activities, and capital management in order to minimize the risks associated with illiquidity.

Calculation, analysis, comparison of ratios are some of the ways to make informed decisions on liquidity management.  Ratios should be compared over many periods, with best performing competitors, and the industry norm to ascertain the position of the reporting entity.

8 0
3 years ago
James, a production manager at a growing company, has mastered the processes and procedures of overall management of the ongoing
IgorLugansk [536]

Answer:

Vicarious learning

Explanation:

The learning that comes from the observation of the things are often refered to as vicarious or observational learning. The production manager here observes the processes and procedures involved in production and had learned these as well which is the obsevational learning of James.

3 0
3 years ago
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