Answer and Explanation:
The journal entries are shown below:
1. On July 1 2019
Machinery Dr $67,000
Fixture & Fittings Dr $68,000
Vehicles Dr $35,000
Current assets Dr $12,000
Goodwill Dr $28,000
To Current liabilities $18,000
To Share Capital (80,000 × $1 ) $80,000
To Paid in capital in excess of par 112,000 {80,000 × ($2.40 - $1)}
(Being the acquisition is recorded)
For recording this we debited all assets as it increased the values of assets and credited the liabilities and stockholder equity as it also increased
2. On July 1 2019
Paid in capital in excess of par $1,600
To Cash $1,600
(Being the share issuance cost is recorded)
For recording this we debited the paid in capital as it reduced the stockholder equity and credited the cash as it reduced the assets
Working notes:
For goodwill amount
= Purchase consideration - net identifiable assets
= $192,000 - $164,000
= $28,000
The net identifiable asset come from
= $67,000 + $68,000 + $35,000 + $12,000 - $18,000
= $164,000
Answer:
Explanation:
The journal entry to record the note payable at discount
Cash A/c Dr $497,000
Discount on Note payable A/c Dr $12,000
To Note Payable A/c $509,000
(Being the note payable is recorded at discount)
Now we know that the discount is for 3 months but we have to calculated for 2 months only i.e from November 1 to December 31
So, the discount would be
= $12,000 × 2 months ÷ 3 months
= $8,000
And the journal entry is
Interest Expense A/c Dr $8,000
To Discount on Note payable A/c $8,000
(Being the interest expense is recorded)
Answer:
FV= 45,000
I= 9/4=2.25
N=6*4=24
PMT=0
PV=?
Put these in financial calculator
$26,381 is what she should pay for the investment today.
Explanation:
Answer:
Pakistan's GDP is 13.81 trillions of rupees.
Explanation:
GDP = C + I + G + NX
Here:
C = 10.50
I = 1.30
G= 2.80
NX = (1.30 - 2.09) = -0.79
GDP = 10.50 + 1.30 + 2.80 - 0.79
GDP = 13.81
Analyze the inventory accounts to determine:
1. Cost of raw materials purchased during the year.
2. Cost of goods manufactured for the year.
3. Cost of goods sold for the year.
4. Cost of raw materials purchased during the year.
Answer:
Instructions are listed below.
Explanation:
Giving the following information:
True Fit incurred total manufacturing costs of $24.500.000. Of this amount. $3,000,000 was direct materials used and $16, 800,000 was direct labor. Beginning balances for the year were Raw Materials Inventory. $900,000. Work-in-Process Inventory. $600,000; and Finished Goods Inventory. $1, 300,000. At the end of the year, balances were Raw Materials inventory. $800,000; Work-in-Process Inventory. $1, 700,000; and Finished Goods inventory. $390,000.
1) Raw material used= beginning inventory + purchases - ending inventory
3,000,000= 900,000 + purchases - 800,000
2,900,000= purchases
2) cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP
cost of goods manufactured= 600,000 + 24,500,000 - 1,700,000= $23,400,000
3) COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory
COGS= 1,300,000 + 23,400,000 - 390,000= $24,310,000
Answer:
10.00%
Explanation:
Calculation for what will be your rate of return after 1 year if Microsoft is selling at $24
Using this formula
Rate of return = (Current price - Initial price ) /Current price *margin
Let plug in the formula
Rate of return=($25 per share-$24)/$25 per share*0.40
Rate of return=$1/10
Rate of return=0.1*100
Rate of return=10.00%
Therefore what will be your rate of return after 1 year if Microsoft is selling at $24 is 10.00%
In this short sale, the initial selling price of the shares was $15,000. A 40% margin was posted, amounting to $6,000. After the price dropped to $24 per share, the shares were bought back for $14,400. The profit gained, which is $600, is divided by the initial investment to obtain a rate of return of 10%.
In a short sale, the initial transaction involves selling a borrowed stock in the hopes of buying it back later at a lower price to earn a profit. The rate of return in a short sale is calculated using the profit earned from the short sale divided by the amount of capital invested originally.
First, we need to calculate how much the total value of the shares was at the time of selling short, so that’s 600 shares × $25/share = $15,000. You posted a 40% margin for the short sale, which means you committed $6,000 (40% of $15,000).
After one year, the Microsoft stock drops to $24 per share. At that price, you can buy back all 600 shares for 600 shares × $24/share = $14,400. The difference between the amount you sold the shares for and what you bought them back at is $15,000 - $14,400 = $600.
Now to calculate the rate of return, take the profit ($600) and divide by the amount of capital originally committed to the transaction ($6,000), so the rate of return is $600 / $6,000 = 0.10 or 10%.
#SPJ3
a) motivation.
b) organizational citizenship behaviors (OCB).
c) ethical sensitivity.
d) ability.
Answer:
d) ability
Explanation:
Based on the information provided regarding the scenario at hand it seems that Dave is trying to improve his employees' abilities and role-perception. Dave wants this training to allow his employees to gain the knowledge of how to operate correctly and efficiently during work-hours in order to increase overall performance and at the same time customer satisfaction.