What are the typical fees banks charge?

YellowCard Company manufactures accessories for iPods. It had the following selected transactions during 2017. (Note: For any pa

jarptica [38.1K]

Answer:

warrant expense 51,000 debit

cash 6,000 credit

warranty liability 45,000 credit

--to record warrant-related accounts--

interest payable 16,667 debit

interest expense 3,333 debit

cash 20,000 credit

--to record interest expense for the loan and installment--

Manufacturing Facilities 5,192,772 debit

Cash 5,000,000 credit

Restoration Liability 192,772 credit

-- to record the payment to contractor--

Explanation:

Warranty: the additional expected expense are considered warranty laibility

Loan: we previously recorded accrued interest from March 1st to Dec 31th

That is: 200,000 x 10% x 10/12 months = 16,667 payable

At February 28th we recognize the last two month of interest

200,000 x 10% x 2/12 months = 3,333 expense

in total we have 16,667 + 3,333 = 20,000 cash outlay

Facility: the asset should add to all the cost necessary to acquire it:

As the conversion into community center is mandatory it is part of the cost:

present value of the 500,000 in ten years:

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

Maturity $500,000.00

time 10.00

rate 0.10000

$\frac{500000}{(1 + 0.1)^{10} } = PV$

PV 192,771.6447

Total cost:

5,000,000 cashg + 192,772 liability = 5,192,772

4 0

2 years ago

Advertising sales agents typically work under the direct supervision of a manager or supervisor.

wolverine [178]

Advertising sales agents typically work under the direct supervision of a manager or supervisor. True.

Initally, an advertising sales agent works under the direct supervision of a manager or supervisor. They are trained and coached by those who are experienced in the field. Once the sales agent has completed a set amount of hours (based on different agency requirements) they are no longer required to complete check-ins as often. These sales agents are then on their own most of the time by setting their own hours for work as long as they meet company goals.

4 0

2 years ago

Employees who work in teams that allow for rapid decision making and a better view of the end product are likely working in what

netineya [11]

Answer:

Horizontal Management

Explanation:

Horizontal management is an organization structure in which there are very few managers, in this type of management authority is given to the employees. This makes the employees to have a sense of empowerment because they can make vital decisions without the approval of a manager.

In horizontal management, decision making happens rapidly with little or no bureaucracy. These companies tend to have a limited amount of projects on which they work, which benefits from the unstructured, open environment since the entire team communicates and share essential information on where the project is and where it is heading to.

8 0

2 years ago

Read 2 more answers

g A foreign factory has offered to supply with ready-made baskets for a price of $12 per basket. Assume that fixed costs are una

cluponka [151]

Answer:

The answer is "$5500".

Explanation:

Analysis Differential:

Make Buy

Cost of variable $800\times 7 \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ = 5600$

Fixed- cost $16000\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 16000$

Purchasing cost $800\times 12\ = 9600$

Cost of opportunity $\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 9500$

Total relevant cost $31100 \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 25600$

Increasing operating income $= 31100-25600 = 5500$

4 0

2 years ago

Use Financial accounting in a sentence

nlexa [21]

Answer:

Explanation:

1. Accounting Theory Accounting theory is conventionally concerned with financial accounting, i.e. with accounting to external providers of finance.

2. Financial accounting information is classified into the categories of assets, liabilities, owner's equity, revenues, expenses, and net earnings (or net loss).

3. So in some course books of financial accounting, the ledger accounts Sales Returns and Allowances, Sales Discounts are called the off-set accounts of Sales Income.

4. For a long time financial accounting serves in keep and accounts.

5. Financial accounting the goal is expected accountant achieves goal or boundary.

6. The financial accounting report in the annual report must be audited by an accounting firm qualified to audit securities and futures business activities.

7. As a branch of financial accounting, accounting for income tax is different frow income tax accounting and it deals with the difference between accounting income and taxable income.

8. Cost measurement covers two different fields: financial accounting and managerial accounting.

9. Among the organizations, International Accounting Standard Committee and Financial Accounting Criterion Committee of U. S.

10. The article analyses the component parts of financial accounting report in detail.

11. The top U.S. accounting rulemaker, the U.S. Financial Accounting Standards Board, will discuss mark-to-market guidance at its board meeting on Monday, according to its website.

12. As contrasted with financial accounting, a managerial accounting information system provides both historical and estimated information that is relevant to the specific plans on more frequent basis.

13. Since the Financial Accounting Standards Board has specifically called for using the title statement of cash flows, title diversity virtually does not exist for this statement.

14. Financial accounting has the function of control.

15. Get the Financial Accounting Standards Board to make public companies disclose one number that's currently not required -- the amount of federal income tax they pay for a given year.

15. Sentencedict.com is a online sentence dictionary, on which you can find excellent sentences for a large number of words.

16. With his support and encouragement I took my first somewhat unsteady steps towards the production of a unit in financial accounting.

17. It is also important to note, at the outset, the distinction between financial accounting and management accounting.

18. Readers interested in further details may consult any standard financial accounting textbook.

19. The term generally accepted accounting principles is somewhat debatable in the field of financial accounting.

20. Under generally accepted accounting principles, companies may use straight-line or one of the accelerated methods of depreciation for financial accounting purposes.

21. What has particularly alarmed some corporations is that Jenkins now is chairman of the Financial Accounting Standards Board.

22. Subject matter includes international accounting, accounting education , information systems, financial accounting, managerial accounting, and legal topics.

23. The CNAO has taken the task of preparing The Interface Standard for Financial Accounting Software Data.

24. Business combinations have caused a series of problems to financial accounting, such as how to recognize the purchase cost, how to measure goodwill, and how to choose accounting methods and theories.

25. Article 4 No organization or individual may instigate, instruct or force an enterprise to compile and tender a financial accounting report which is false or conceals any important fact.

26. Asset measurement is one of the core issues of Financial Accounting, and it is also among the most controversial ones.

27. The company that issues new stocks or bonds in accordance with the law shall also publish its financial accounting report.

28. The paper analyzes the great influence of the intelligence economy on the three factors of financial accounting report.

29. Assist in investment and finance project, providing services and support of financial accounting, cost and sensibility analysis.

30. Securities and Investment is a freely elective course of the Financial Accounting Education specialty.

7 0

3 years ago