A firm has a beginning inventory of $50,000 and purchases of $290,000 for an accounting period. Sales totaled $400,000, and typical gross margin as a percentage of sales has been 30% using the gross margin method, what is the estimated ending inventory?
B Company purchases a new delivery truck for $20,000. the truck is expected to have a useful life of 90,000 miles before replacement, and a salvage value of $2,000. In its first year the truck was driven 22,000 miles, and a further 19,000 miles in year two. What is the depreciation expense and book value at the end of year two?
P Inc.purchased a $30,000 asset with a salvage value of $1,200 and an estimated useful life of three years. What is the book value at the end of years one and two using the 150%declining balance method?
An asset purchased by A Corporation for $15,000 ON 01/01/1997 also incurred freight charges of $200 and installation cost of $1,000.The asset had a life expectancy of eight years and a salvage value of $2,800.What are the accumulated straight-line depreciation and book value on 01/01/2000?
The Tims Corporation expects earnings of $8,000,000 in the current year on 6,000,000 shares of common stock. The company is considering the effects on expected earnings of issuing an additional 2,000,000 shares of common stock. (a) What will be the initial dilution in earnings per share if the new stock is issued? (b) If
Scott, Inc., manufactures two products, Regular and Deluxe, and applies overhead on the basis of direct labor hours. Anticipated overhead and direct labor time for the upcoming accounting period are $1,600,000 and 25,000 hours, respectively. Information about the company's products follows. Regular-- Estimated production
William received his bank statement from Trader's Bank indicating an ending balance of $6,206.55. William's checkbook showed a balance of $5,549.30. William noticed that $759.00 in checks were outstanding. The bank statement reflected an NSF charge in the amount of $86.75 and a monthly service charge of $15.00. The reconcile
Charles checking account register showed a balance of $2,416.78 on August 1. After reviewing his bank statement he noticed an NSF charge in the amount of $70.25, a service charge of $19.00, and a not collected for $456.00. There was one deposit not yet credited for $155.00 and no checks outstanding. What was his reconciled bala
Banner Mattress and Furniture Company The Banner Mattress and Furniture Company wishes to study the number of credit applications received per day for the last 300 days. The information is reported below: Number of Credit Frequency Applications (Number of Days) 0 50 1 77 2 81 3 48 4 31 5 or mor
At time 0.5, the price of $1 par of a zero maturing at time 1 will be either $0.96 or $0.98. The risk-neutral probability of the each outcome is 50%. The current price of $1 par of a zero maturing at time 0.5 is 0.97. Time 0 Time 0.5 1 Zero maturing at time 0.5 0.97 0.96 Zero maturing at time 1 ? 1 0.
The following trial balance was taken from the books of Fisk Corporation on December 31, 2007. Account Debit Credit Cash $ 12,000 Accounts Receivable 40,000 Note Receivable 7,000 Allowance for Doubtful Accounts $ 1,800 Merchandise Inventory 44,000 Prepaid Insurance 4,800 Furniture and Equipment 125,000
Taylor Flowers' bank statement shows a balance of $135.42 and a service charge of $8.00. The account register shows deposits of $112.88 and $235.45 that do not appear on the statement. The register shows outstanding checks in the amounts of $17.42 and $67.90 and two cleared checks recorded in the account register as $145.69 an
You have administered a standardized test of manual dexterity to two groups of 10 semi skilled workers. One of these two groups of workers will be employed by you to work in a warehouse with many fragile items. The higher the manual dexterity of a worker the less likelihood that worker will break significant inventory. Becaus
1. Suppose you have 2 nickels, 3 dimes, and 8 quarters in your pocket. If you draw a coin randomly from your pocket, what is the probability that a. You will draw a dime? b. You will draw a nickel? c. You will draw a quarter? 2. You are rolling a pair of dice, one red and one green. What is the probability of
Security A has an expected rate of return of 6%, a standard deviation of returns of 30%, a correlation coefficient with the market of -0.25, and a beta coefficient of -0.5. Security B has an expected return of 11%, a standard deviation of returns of 10%, a correlation with the market of 0.75, and a beta coefficient of 0.5.
Better home products Canadian operations are organized into two divisions: west and east. west division sells a component that could be used by east division in making one of the company's principal products. east division has obtained three price quotations from external suppliers for the component: $154, $138, and $143. examin
Problem 13-19 Make or Buy Decision [LO3] Bronson Company manufactures a variety of ballpoint pens. The company has just received an offer from an outside supplier to provide the ink cartridge for the company's Zippo pen line, at a price of $0.63 per dozen cartridges. The company is interested in this offer, since its own prod
Mt. Sinai Hospital in New Orleans is a large, private 600 bed facility, complete with labratories, operating rooms, and x-ray equipment. Mt. Sinai's administration has decided to make a 90-bed addition on a portion of adjacent land currently used for staff parking. The administrators feel that the labs, operating rooms, and x-ra
Discrete Probability Distributions A Tamiami shearing machine is producing 10 percent defective pieces, which is abnormally high. The quality control engineer has been checking the output by almost continuous sampling since the abnormal condition began. What is the probability that in a sample of 10 pieces: a. Exactly 5 w
Investments for Retirement Years Taking into account the value of money over time, discuss an investment one might make for his/her retirement years and the pros and cons of this investment.
The Internet Effect on Business Discuss how the Internet has changed the face of doing business today. What are the positive effects of the Internet on business? What are the negative effects of the Internet on business? Please Reference your source(s).
What is the risk free real rate of return? 1) You read in the Wall Street Journal that 30 day U.S. treasury bills are currently yielding 8%. Your brother in law, a broker, and a broker at Kyoto Securities, has given you the following estimates of current interest rate premiums: Inflation premium = 5.0% Liquidity premium
There are 2 types of storage cabinets, type A and B. The manufacturer applies overhead on all units at rate of $80 per machine hour. Production info is this: Type A Type B Anticipated volume (units) 8,000 15,000 Direct material cost
The following information is available for Small Corporation's first year of operations: Payment for merchandise purchases $250,000 Ending merchandise inventory 110,000 Accounts payable (balance at end of year) 60,000 Collections from cust
How would one find quality control costs under two different product costing systems? If Quality control costs were at 14.5% Monthly direct labor costs were $27,500 And we had ABC information like: Activity Cost Pool Cost Driver Pool Rates Quantity of Driver Incoming Inspection Type of material $11.50 per
I need help on two basic/intermediate finance questions. For computation, please use Excel or Word. I'm not very good with math, so if you use Word, please show step by step on how you obtained the answers. Thanks. 1. Project Evaluation. The following table presents sales forecasts for Golden Gelt Giftware. The unit price is
Canada Bank has $60,000 of 16% (annual interest) bonds outstanding, 1,500 shares of preferred stock paying an annual dividend of $5 per share, and 4,000 shares of common stock outstanding. Assuming a 40% tax rate, compute earnings per share for levels of $24,600, $30,600,and $35,000. I am having a hard time with this and ne
1) You have $10,000.00 to invest. Pick a bank, any bank,(Bank of America, USAA,Wamu, Wells Fargo, ect.) and investigate the details of the mentioned four account types they have. Explain how the various account are set up and what you do and don't get. Do not assume the reader of your paper knows everything about checking, savin
5. The city council of Pine Bluffs is considering increasing the number of police in an effort to reduce crime. Before making a final decision, the council asks the chief of police to survey other cities of similar size to determine the relationship between the number of police and the number of crimes reported. The chief gat
These top firms in industry A have market shares of 30, 25, 10 and 5% respectively. The top four firms in industry B have market shares of 15, 12, 8 and 4 % respectively. To find the four firm concentration ratio, you will add the market shares of the four largest firms in each industry. For Industry A: 30% + 25%