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3 years ago

Prepare a 2017 balance sheet for Jarrow Corp. based on the following information:

Business

1 answer:

Basile [38]3 years ago

3 0

Answer and Explanation:

The preparation of the balance sheet is presented below:

Assets Liabilities & Equity

Cash $142,000 Account payable $219,500

Account receivable $162,500 Note payable $115,000

Inventory $300,500 Long term debt $860,000

Tangible net fixed assets $1,655,000 Common stock $447,500

(Balancing figure)

Patents & copyrights $630,000 Acc retained earnings $1,248,000

Total assets $2,890,000 Total liabilities & Equity $2,890,000

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Which of these is a major advantage of a market economy?

Fofino [41]

These is a major advantage of a market economy is it can change direction rapidly when needed as markets change. Thus second option is correct.

<h3>What is Market Economy?</h3>

Market Economy refers to the economy in which the prices of the goods and services are determined by the two market forces that are supply and demand.

There is a less control of the government in the market economy and therefore all the decisions are taken by the private individuals. Thus option 1st is incorrect.

The Prices of the goods and services are determined by the supply and demand forces and the prices are kept as per the affordability of the customers. Thus option 3rd is also incorrect.

Therefore the correct option is 2nd one as the market changes the price of the good and services are also effected and get changed.

Learn more about Market economy here:

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5 0

2 years ago

A local bookstand believes that the demand for the Olympic edition of a sports magazine is normally distributed with a mean of 1

atroni [7]

Answer:

1,304 copies

Explanation:

Overage cost (Co) means like cost of over ordering

Co = Cost price - Salvage value

Co = $1.50 - $0 (No salvage value)

Co = $1.50

Underage cost (Cu) means like cost of under ordering

Cu = Selling price - Cost price

Cu = $5.00 - $1.50

Cu = $3.50

Service level = Cu / (Cu + Co)

Service level = $3.50 / ($3.50 + $1.50)

Service level = $3.50 / $5.00

Service level = 0.7

Z-value = NORMSINV (Service level), Using Ms Excel

Z-value = NORMSINV (0.7)

Z-value = 0.52

Optimal Order Quantity (Q) = Mean Demand + (Z-value*Standard deviation)

Optimal Order Quantity Q = 1,200 + (0.52*200)

Optimal Order Quantity Q = 1,200 + 104

Optimal Order Quantity Q = 1,304 copies

7 0

3 years ago

a. Ten years ago today, Excel Corp issued a regular coupon bond that had original maturity of 15 years. The bond pays interest s

Vlad [161]

Answer:

Total $1,271.0564

Explanation:

We have bond of 10 years ago, so the bond is left with 5 years of life

we need to calculate the present value ofthe cuopon payment:

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

C 50 (1,000 x 5%)

time 10 (5 years 2 payment a year)

rate 0.02 (4% annual divide by 2 to get semiannually)

$50 \times \frac{1-(1+0.02)^{-10} }{0.02} = PV\\$

PV $449.1293

and the present value of the principal

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

Maturity 1000

time 5

rate 0.04

$\frac{1000}{(1 + 0.04)^{5} } = PV$

PV $821.9271

We add both to get the present value ofthe bond

PV c $449.1293

PV m $821.9271

Total $1,271.0564

6 0

4 years ago

Block Island TV currently sells large televisions for $380. It has costs of $320. A competitor is bringing a new large televisio

photoshop1234 [79]

Answer:

Effect on income= (2,400,000)

Explanation:

Giving the following information:

Current selling price= $380

New selling price= $360

Unitary cost= $320

Units sold= 150,000*1.1= 165,000

We need to calculate the effect on income:

Effect on income= contribution margin new sales - contribution margin old sales

Effect on income= 15,000*(360 - 320) - 150,000*(380-360)

Effect on income= (2,400,000)

Prove:

New income= 165,000*40= 6,600,000

Actual income= 150,000*(380-320)= 9,000,000

Difference= (2,400,000)

5 0

3 years ago

On July 1, 2014, Dillman Kennels sells equipment for $66,000. The equipment originally cost $180,000, had an estimated 5-year li

vodomira [7]

Answer:

(D) $6,000 gain; (C) $60,000 loss on disposal

Explanation:

In the first question,

Original cost = $180,000

Estimated useful life = 5 years

Expected salvage value = $30,000

Therefore, annual deprecation = (180,000-30,000)/5 = 150,000/5 = $30,000.

With an accumulated depreciation of $105,000 on January 1, 2014 and a sale of the equipment on July 1, 2014, we need to add to the accumulated depreciation the depreciation for the six month period from January 1 to July 1 to determine the accumulated depreciation up to the point of sale.

6 month depreciation = 1 year depreciation/2 = 30,000/2 = 15,000

Therefore, accumulated depreciation up to the point of sale = 105,000 + 15,000 = 120,000.

Therefore, net book value (NBV) at time of sale = original cost - accumulated depreciation

= 180,000 - 120,000 = 60,000.

Thus, given a sale value of 66,000, there gain/(loss) on sale = sale value - NBV = 66,000 - 60,000 = 6,000 gain.

In the Second Question,

Original cost = $225,000

Sale value = $75,000

Accumulated depreciation = $90,000 (up to the point of sale).

Therefore, NBV at the point of sale = original cost - accumulated depreciation = 225,000 - 90,000 = 135,000.

Thus, profit/(loss) on disposal = sale value - NBV = 75,000 - 135,000 = -60,000 = 60,000 loss on disposal.

4 0

3 years ago