Selected transactions for D. Reyes, Inc., an interior decorating firm, in its first month of business, are as follows. Jan. 2 Invested $10,000 cash in the business in exchange for common stock. 3 Purchased used car for $4,000 cash for use in business. 9 Purchased supplies on account for $500. 11 Billed customers $1,800 for
Mary Close is the bookkeeper for Mendez Company. Mary has been trying to get the balance sheet of Mendez Company to balance. Below is a balance sheet but it is not correct and needs to be fixed. harmony harris: MENDEZ COMPANY Balance Sheet December 31, 2008 Assets Liabilities Cash $15,000 Accounts payable $20,000 Supplies
The following information relates to Linda Stanley Co. for the year 2008. Retained earnings, January 1, 2008 $ 48,000 Advertising expense $ 1,800 Dividends during 2008 6,000 Rent expense 10,400 Service revenue 62,500 Utilities expense 3,100 Salaries expense 30,000 Instructions After analyzing the data, prepare an income st
There are two stocks, stock A and stock B. The price of stock A today is $70. The price of stock A next year will be $50 if the economy is in recession, $80 if the economy is normal and $95 if the economy is expanding. The attendant probabilities of recession, normal times, and expansion are 0.2, 0.6, 0.2, respectively. Stock A
Following are selected accounts and their balances for a company after the adjustments as of May 31, the end of its fiscal year. (All accounts have normal balances.) J. Mark, Capital J. Mark, Withdrawals
Exercise Description Solutions or Answer here Find the mean of the following set of numbers. 7, 10, 9, 13, 6 A) 9 B) 10 C) 8 D) 9.2 A) Use the table, showing the yearly food costs of a family, below this table to answer questions 2a and 2b: A) In what year was the cost of food the greatest? B) What
In the space provided, classify each as it would be reported on a balance sheet. Use the following code: A -----Asset L -----Liability SE ------ stockholders' equity _____1. Accounts Payable _____2. Accounts Receivable _____3. Buildings _____4. Cash _____5. Contributed Capital _____6. Land _____7. Merchandise Inv
Here is the info I have for the problem I need to solve: You have two investment opportunities. One will have a 10% rate of return on an investment of $500; the other will have an 11% rate of return on a principal of $700. You would like to take an advantage of the higher yield investment but have only $500 available.
Smith uses a perpetual inventory system. Determine the costs assigned to cost of goods sold and ending inventory using (a) FIFO and (b) LIFO. Compute the gross margin for each method.
Smith Company reported the following current-year data for its only product: Jan. 1 Beginning Inventory 200 Units @ $10 $2,000 Mar. 14 Purchase 350 Units @ $15 5,250 Jul. 30 Purchase 4 50 Un
Evaluate each (separate) inventory error and determine whether it overstates or understates each item.
Evaluate each (separate) inventory error and determine whether it overstates or understates each item. Inventory Error Cost of Goods Sold Net Income Understates beginning inventory Understates ending inventory Overstates beginning inventory Overstates
Rockness Recycling refurbishes rundown business students. The process uses a moving belt, which carries each student through the five-step process in sequence. The steps are as follows: Step Description Time Required per Student 1 Unpack and place on belt 1.0 minutes 2 Remove off bad habits 1.0 minutes 3 Scrub and clean
Please provide input / answers to the question below. 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
The return an investor earns on a bond over a period of time is known as the holding period return, defined as interest income plus or minus the change in the bond's price, all , all divided by the beginning bond price. A. What is the holding period return on a bond with a par value of $1,000 and a coupon rate of 6 percent o
II. You are working for an investment firm and have been asked to analyze and explain investments to your boss and clients who do not understand the various aspects of your job. You are working with the analysis of stocks, bonds and mutual funds. The following questions are examples of some of the analysis type problems that you
Sherman Brothers, Inc., sold 4 million shares in its IPO, at a price of $18.50 per share. Management negotiated a fee (the underwriting spread) of 7% on this transaction. What was the dollar cost of this fee?
The company will provide fresh cookies to starving students late at night. You need to evaluate the preliminary design for the company's production process. Business Concept Your idea is to bake fresh cookies to order, using any combination of ingredients that the buyer wants. The cookies will be ready for pick-up at you
1. If I bought 400 shares of AllTell stock for $15 per share and one year later, sold the stock for $21 per share, and receive a $0.90 cash dividend: a.What is the total dollar return earned for the year? b.What is the rate of return (percentage) earned? 2. If Michelle purchased 100 shares of Home Depot common stock at
Please apply quantitative methods for the following case. A pharmaceutical company conducted a study to evaluate the effect of an allergy relief medicine. 250 patients with symptoms that included itchy eyes and a skin rash received the new drug. The results of the study are as follows: 80 of the patients treated experien
APPENDIX... Use to calculate ratios Income Statement 2007 Sales 3,000 Cost of Goods (1,350) Sell,Admin,Gen'l Expenses (1,050) Interest Expense (150) Profit Before Tax 450 Tax (180) Profit after Tax 270 Bal
If a 22 year (Sam) invested $4,000/year into a Roth IRA until his 30th year, what will the value of that IRA be in the 65th year, assuming 8% per year? If his brother (Winston) waited until his 31 year to start investing $4,000 into his Roth IRA and continued making this $4,000 annual investment until he was 65 - who would have
The company is "Ties for U" and my boss wants to estimate profits for next year(2008) and then determine the percentage growth from 2007 to 2008. Some assumptions: - The marketing folk expect the total market for ties in 2008 to be 10 million ties. - The expect "Ties for U" to capture 20% of the market next year.(how many t
Given the following information, [TABLE] Calculate: A. Retained Earnings Breakpoint: ________________________ B. Assume the firm goes to raise $250 Mil, what is the weighted average cost of capital: _____________________ C. Assume the firm goes to raise $500 Mil, what is the weighted average cost of capital:
1 year ago I purchased 150 shares of common stock for $30 per share. During the year I noticed that the value of the stock decreased to $22.50 per share. If the stock paid a dividend of $0.80 during the year, what is the return on the investment? Please provide me step by step instructions on how to solve this problem.
Here are the problems Which of the following is not an indirect cost of bankruptcy? Legal Fees Delayed Liquidation Costs to Creditors Loss of Customers Which of the following is not an indirect cost of bankruptcy? Loss of Suppliers Fire Sales of Assets Costs of Appraisers Loss of Emplo
Acme Manufacturing makes a variety of household appliances at a single manufacturing facility. The expected demand for one of these appliances during the next four months is shown in the following table along with the expected production costs and the expected capacity for producing these items. Month 1 2 3 4 Demand 420 580 3
You just turned 25. you plan on saving a equal amount in your 401K at the of each year for 40 years (your 65th birthday). You expect to earn 9% pa during this time frame. at 65 you will begin drawing down on this account $75,000 annually. You expect to live to be 90 years old (25 years). You earn 5% on the account during your re
Pick a country of your choice that is experiencing population growth.(I picked Mexico City,Mexico;18,131,000 in 2007, r is 1.7% expected to double in 40 years (0.69/0.017=40.6) pop. growth rate 1.142%(2008 est)(www.indexmundi.com/mexic/population-growth-rate.html)-I don't know what to do here...find the most recent population co
Marshall, McManus, & Viele text Ch. 6, problem P6-26 a, b, c, and d only Present value calculations. Using a present value table, your calculator, or a computer program present value function, answer the following questions: Required: a. What is the present value of nine annual cash payments of $4,000, to be paid at the e
12. Neutron Company issued $1,500,000, 10%, 20-year bonds on December 31, 2005, for $1,460,000. Interest is payable semiannually on June 30 and December 31. Neutron uses the straight-line method of amortization and has a calendar year end. Instructions Prepare the appropriate journal entries on: (a) December 31, 2005. (b)
The Barnett Clinic purchased a new surgical laser for $64,000. The estimated salvage value is $4,000. The laser has a useful life of five years and the clinic expects to use it 10,000 hours. It was used 1,600 hours in year 1; 2,100 hours in year 2; 2,400 hours in year 3; 1,900 hours in year 4; 2,000 hours in year 5. Instructio