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2 years ago

13

Controllable margin is defined as A.sales minus variable costs. B.sales minus contribution margin. C.contribution margin less co

ntrollable fixed costs. D.contribution margin less noncontrollable fixed costs.

1 answer:

Naya [18.7K]2 years ago

5 0

Answer:

answer d is correct is correct

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Prepare the general journal entries for Culver Company for____________.(a) The 2020 adjusting entry.(b) The sale of the Gordon s

-Dominant- [34]

Answer:

a) Debit fair value loss $7,900 Credit Investment $7,900

b) Debit Bank $66,300, Debit Fees $1,200 Credit investment $67,500

c) Debit investment $53,800, Credit Fees $1,300 Credit Bank $52,500

d) Debit Fair value loss $10,400 Credit Investment $10,400

Explanation:

c) the purchase of stock include fees and the fees are included in the cost of the shares and increase the cost of the asset hence they are capitalised on the cost. The fees are an expense directly associated with the purchase therefore are attributable costs.

the completed question

E17-15

(Equity InvestmentsTrading) Culver company has the following securities in its trading port- folio of securities on December 31, 2020.

Investments (Trading) Cost Fair Value

1,500 shares of Gordon, Inc., Common $73,500 $ 69,000

5,000 shares of Wallace Corp., Common 180,000 175,000

400 shares of Martin, Inc., Preferred 60,000 61,600

$313,500 $305,600

All of the securities were purchased in 2020.

In 2014, Culver completed the following securities transactions.

March 1Sold the 1,500 shares of Gordon, Inc., Common, @ $45 less fees of $1,200

April 1 Bought 700 shares of Earnhart Corp., Common, @ $75 plus fees of $1,300

Culver Companys portfolio of trading securities appeared as follows on December 31, 2021

Investments (Trading) Cost Cost Fair Value

5,000 shares of Wallace Corp., Common $180,000 $175,000

700 shares of Earnhart Corp. Common 53,800 $50,400

400 shares of Martin, Inc. Preferred 60,000 $58,000

293,800 283,400

Instructions

Prepare the general journal entries for Culver Company for:

(a)The 2020 adjusting entry.

(b) The sale of the Gordon stock.

(c)The purchase of the Earnhart stock.

(d) The 2021 adjusting entry for the trading portfolio

3 0

3 years ago

A severe freeze has damaged the Florida orange crop. The impact on the market for orange juice will be a leftward shift of

EastWind [94]

Group of answer choices.

A. the supply curve, resulting in a lower equilibrium price.

B. the supply curve, resulting in a higher equilibrium price.

C. the demand curve, as consumers try to economize because of the shortage.

D. the demand curve, resulting in a price ceiling in the market.

Answer:

B. the supply curve, resulting in a higher equilibrium price.

Explanation:

In this scenario, a severe freeze has damaged the Florida orange crop. Thus, the impact on the market for orange juice will be a leftward shift of the supply curve, resulting in a higher equilibrium price.

An equilibrium price can be defined as the price at which the quantity of goods demanded is equal to the quantity of goods supplied.

Additionally, the equilibrium price is generally said to be stable because at this price, the quantity of goods or services demanded is equal to the quantity of goods or services supplied to the consumers.

7 0

2 years ago

Ploeger Corporation has provided the following contribution format income statement. Assume that the following information is wi

Crazy boy [7]

Answer:

Break-even point (dollars)= $234,000

Explanation:

Giving the following information:

Sales (4,000 units) $ 240,000

Variable expenses 156,000

Fixed expenses 81,900

To calculate the break-even point in dollars, first, we need to determine the selling price and unitary variable cost:

Selling price= 240,000/4,000= $60

Unitary variable cost= 156,000/4,000= $39

Now, we can calculate the break-even point:

Break-even point (dollars)= fixed costs/ contribution margin ratio

Break-even point (dollars)= 81,900/ [(60 - 39) / 60]= $234,000

8 0

3 years ago

Bruce is the owner of Orion Inc., a manufacturer of electronic gadgets. He wants to hire the most honest job applicants as marke

Evgesh-ka [11]

In the context of employee selection, it can be inferred that Bruce is likely to employ an integrity test .

<u>Explanation: </u>

The integrity test is a particular kind of psychological test intended to assess whether the individual is trustworthy, truthful and reliable. The lack of integrity is related to fraud, crime, vandalism, disciplinary issues, and absences.

Two main categories of honesty assessments are covert (character-based) tests that assess features relevant to obedience to rules; and transparent measures that analyze a candidate's attitudes to different CWBs explicitly.

Integrity tests can sometimes be reasonable job performance measurements all in all. This isn't shocking, because honesty is strongly linked to perception, which is a strong indicator of overall employment success.

When tandem with cognitive skills tests, credibility assessments may provide considerable value to a selection process as others ' personality characteristics.

6 0

3 years ago

a. The Gap purchased inventories totaling $10,438 million during fiscal 2015. Use the financial statement effects template to re

BartSMP [9]

Question Completion:

The GAP is a global clothing retailer for men, women, children, and babies. The following information is taken from The Gap's fiscal 2015 annual report.

Selected Balance Sheet Data ($ millions)

2015 2014

Inventories $1,901 $1,861

Accounts Payable 1,140 1,145

Answer:

The Gap

a) Cost of Goods Sold: $10,398

The cost of goods sold increases the Expenses and reduces the Net Income in the Income Statement.

b) The cash paid to suppliers is $10,443.

Explanation:

Data and Calculations:

Accounts Payable

Beginning balance $1,145

Purchases 10,438

Payment 10,443*

Ending balance 1,140

*Payment = Beginning balance Plus Purchases Minus Ending balance.

Cost of Goods Sold:

Beginning Inventories $1,861

Purchases 10,438

Ending Inventories (1,901)

Cost of goods sold $10,398

6 0

2 years ago