________ models software in terms similar to those that people use to describe real-world objects.

The following inventory transactions took place near December 31, 2018, the end of the Rasul Company's fiscal year-end:On Decemb

katrin [286]

Answer:

On December 27, 2018, merchandise costing $2,000 was shipped to the Myers Company on consignment. The shipment arrived at Myers's location on December 29, but none of the merchandise was sold by the end of the year. The merchandise was not included in the 2018 ending inventory.

TRANSACTION CORRECTLY ACCOUNTED FOR

On January 5, 2019, merchandise costing $8,000 was received from a supplier and recorded as a purchase on that date and not included in the 2018 ending inventory. The invoice revealed that the shipment was made f.o.b. shipping point on December 28, 2018.

TRANSACTION INCORRECTLY ACCOUNTED FOR, it should have been included in the ending inventory on December 31, 2018, since it was purchased FOB shipping point.

On December 29, 2018, the company shipped merchandise costing $12,000 to a customer f.o.b. destination. The goods, which arrived at the customer’s location on January 4, 2019, were not included in Rasul's 2018 ending inventory. The sale was recorded in 2018.

TRANSACTION INCORRECTLY ACCOUNTED FOR, it should have been included in the ending inventory on December 31, 2018, since it was sold FOB destination.

Merchandise costing $4,000 was received on December 28, 2018, on consignment from the Aborn Company. A purchase was not recorded and the merchandise was not included in 2018 ending inventory.

TRANSACTION CORRECTLY ACCOUNTED FOR

Merchandise costing $6,000 was received and recorded as a purchase on January 8, 2019. The invoice revealed that the merchandise was shipped from the supplier on December 28, 2018, f.o.b. destination. The merchandise was not included in 2018 ending inventory.

TRANSACTION CORRECTLY ACCOUNTED FOR

6 0

4 years ago

In October, Glazier Inc. reports 42,000 actual direct labor hours, and it incurs $194,000 of manufacturing overhead costs. Stand

Olin [163]

Answer:

$18,000 F

Explanation:

Actual overhead– Overhead Budgeted=

Overhead Controllable Variance

Actual overhead=$194,000

Overhead Budgeted=$212,000

$194,000–$212,000

=$18,000 F

(40,000 ×$3.80) + $60,000

=$152,000+$60,000

= $212,000

Therefore the manufacturing overhead controllable variance is $18,000 F

3 0

3 years ago

Stock X has a beta of 0.7 and Stock Y has a beta of 1.3. The standard deviation of each stock's returns is 20%. The stocks' retu

kipiarov [429]

Answer:

e. Portfolio P has the same required return as the market (rM).

Explanation:

The answer is e. Portfolio P has the same required return as the market (rM).

let's find the beta of the portfolio = 0.5 * 0.7 + 0.5 * 1.3 = 1.0

From the information above , the required return on the portfolio = risk free rate + beta * (Expected market return - risk free rate) = risk free rate + 1 * (Expected market return - risk free rate) = Expected market return.

6 0

3 years ago

Thornton, Inc. has budgeted sales for the months of September and October at $ 304 comma 000 and $ 282 comma 000, respectively.

Licemer1 [7]

Answer:

$284,200

Explanation:

The computation of cash collections is shown below:-

Cash sales of October = $282,000 × 80%

= $225,600

Credit sales collection

September = ($304,000 × 20%) × 50%

= $30,400

October = $282,000 × 20% × 50%

= $28,200

Total cash collections for the month of October = Cash sales of October + Credit sales collection of September + Credit sales collection of October

= $225,600 + $30,400 + $28,200

= $284,200

3 0

4 years ago

Tucker Corporation is planning to issue new 20-year bonds. The current plan is to make the bonds non-callable, but this may be c

yKpoI14uk [10]

Answer

d. The required rate of return would increase because the bond would then be more risky to a bondholder.

Explanation

The risk–return spectrum (also called the risk–return tradeoff or risk–reward) is the relationship between the amount of return gained on an investment and the amount of risk undertaken in that investment.

7 0

3 years ago