Answer:
d. $67 million.
Explanation:
The asset is not impaired because the fair value is higher than the book value. Therefore, the only operating loss of $67,000,000 can be reported.
Particulars Amount
Operating Loss(Jan 1 to 31 Dec 2021 $67,000,000
Before Tax loss on discontinued operation $67,000,000
Hence, Jamison would report a before-tax loss on discontinued operations of $67,000,000.
Answer:
0.25 or 25%
Explanation:
The computation of the gross profit rate is shown below:
Gross profit rate = Gross profit ÷ Net sales revenue
where,
Net sales revenue = Sales revenue - Sales Returns and Allowances - Sales Discounts
= $2,000,000 - $250,000 - $50,000
= $1,700,000
And, the Cost of goods sold is $1,275,000
So, the gross profit is
= $1,700,000 - $1,275,000
= $425,000
So, the gross profit rate is
= $425,000 ÷ $1,700,000
= 0.25 or 25%
Answer:
$95,400
Explanation:
Step 1 : Find the equivalent units of production in Ending Work in Progress
Materials = 18,000 x 100 % = 18,000 units
Conversion costs = 18,000 x 60 % = 10,800 units
Step 2 : Calculate the Cost of units in Ending Work in Progress
Cost of units in Ending Work in Progress = 18,000 x $2.75 + 10,800 x $4.25
= $95,400
Conclusion :
The ending work in process inventory was $95,400.
Answer:
$106,595
Explanation:
Given:
Initial market rate = 9%
Dropped market interest rate, r = 7% per year
or
= 7% × [6 ÷ 12]
= 3.5% = 0.035
Remaining time, n = 9 years = 18 semi annual periods
Now,
Value of the bond at the retirement
= [ PVAF × Interest payment] + [ PVF × face value]
here,
Present value of annuity factor, PVAF = 
or
PVAF = 
or
PVAF = 13.189
And,
Interest payment = $100,000 × 8% × [6 ÷ 12 ] [since, 8% bonds]
= $4000
Present value factor = 
= 0.538
par value = $100,000
= [13.189 × $40] + [0.538 × 100,000]
= 52,758.7316 + 53,836.114
= $106,595
Hence,
The correct answer is option $106,595
(a) Discount amount = Face value - Price of t-bills = $1,000-$996 = $4
(b) Amount received at maturity = Face value = $1,000 (Note: T-bills are guaranteed and thus one of the safest investment).
(c) Current yield, R = Discount amount/Face value * 360/t, where t = 52 weeks = 360 days.
Then,
R = (4/1000)*(360/360)*100 = 0.4%
