Answer:
$50
Explanation:
Solution
Recall that:
The company plans on giving out $50 million by repurchasing stock hence, number of stock to be purchased = 50/50 = 1 million
The Number of share bought back = 300-1 = 299
Thus
$20,000 + $1,000 - $6000 = $15,000
$15,000 / 300 shares = $50
Before Repurchase After the repurchase
Value of operations 20000 20000
Short-term investments 1000 950
Less : Debt 6000 6000
Intrinsic value of equity 15000 14950
Number of shares 300 299
Intrinsic value per share 50 50
Therefore the intrinsic per share stock price be immediately after the repurchase is $50
2 Hired a secretary-receptionist at a salary of $320 per week payable monthly.
3 Purchased supplies on account $830. (Debit an asset account.)
7 Paid office rent of $630 for the month.
11 Completed a tax assignment and billed client $1,360 for services rendered. (Use Service Revenue account.)
12 Received $3,940 advance on a management consulting engagement.
17 Received cash of $2,950 for services completed for Ferengi Co.
21 Paid insurance expense $150.
30 Paid secretary-receptionist $1,280 for the month.
30 A count of supplies indicated that $130 of supplies had been used.
30 Purchased a new computer for $7,000 with personal funds. (The computer will be used exclusively for business purposes.)
Journalize the transactions in the general journal. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.)
Answer:
Cash 34,830
Equipment 15,540
Capital Account 50,370
no entry needed
supplies 830
account payable 830
rent expense 630
cash 630
account receivable 1,360
service revenue 1,360
cash 3,940
unearned revenue 3,940
cash 2,950
service revenue 2,950
insurance expense 150
cash 150
wages expense 1,280
cash 1,280
supplies expense 130
supplies 130
Equipment- Computer 7,000
Capital Account 7,000
Explanation:
We must always o debit = credit
and record the entries to reflect the reality.
Prepare a direct materials budget for the second quarter.
Answer and Explanation:
The Preparation of direct materials budget for the second quarter is prepared below:-
Rida, Inc.,
Direct materials budget
For the second quarter
Particulars Amount
Production Unit 240,000
Raw material per unit 0.60
Raw material needed for production 144,000
(240,000 × 0.60)
Add: Desired ending inventory 9,450
(52,500 × 0.6 × 30%)
Total amount 153,450
Less: Beginning inventory ($43,200)
Direct material purchase $110,250
Cost per pound $175
Direct material purchase cost $19,293,750
Therefore to reach at direct material purchase cost we simply multiply the direct material purchase cost with cost per pound.
Answer:
The correct answer is letter "B": False.
Explanation:
Kantian ethics, named after Immanuel Kant (1724-1804), propose that actions such as theft or lying are absolutely forbidden even when the action brings the individual certain level of happiness. The Utilitarian Approach pursues obtaining maximum satisfaction by minimizing harm. Though, that minimal harm is subjective since it could represent greater harm for the individuals affected.
Thus, in both Kantian and utilitarian approaches ethical wrong is committed by deceiving consumers, producers, and the overall market efficiency.
Answer:
1. Budgeted manufacturing overhead rate = Budgeted manufacturing overhead costs / Budgeted machine-hours
Budgeted manufacturing overhead rate = $3,800,000 / 200,000
Budgeted manufacturing overhead rate = $19
2. The manufacturing overhead allocated during 2017 = Actual machine-hours * Budgeted manufacturing overhead rate
Manufacturing overhead allocated = 196,000 * $19
Manufacturing overhead allocated =$3,724,000
3. Manufacturing overhead costs over-allocated = Manufacturing overhead allocated during 2017 - Actual manufacturing overhead costs
Manufacturing overhead costs over-allocated = $3,724,000 - $3,660,000
Manufacturing overhead costs over-allocated = $64,000
a. 2/3 gallon
b. 5/7 gallon
c. 1 1/2 gallons
d. 1 2/5 gallons
of root beer, and Susan's opportunity cost of making a pizza is ?
a. 2/3 gallon
b. 5/7 gallon
c. 1 1/2 gallons
d. 1 2/5 gallons
of root beer.
Who has an absolute advantage in making pizza, and who has a comparative advantage in making pizza?
Answer:
Explanation:
1. Megan takes 3 hours to brew a gallon of root beer and 2 hours to make a pizza.
If she makes a pizza therefore, that is 2 hours that could have been used to make a gallon of root beer. However, it takes 3 hours to make a complete gallon so in those 2 hours only;
= 2/3 gallons would have been made
2. Susan takes 7 hours to brew a gallon of root beer and 5 hours to make a pizza.
Like Megan above, the 5 hours that would be used for Pizza would have gone towards making a gallon of beer. If it takes 7 hours to make a gallon then those 5 hours would have made;
= 5/7 gallons of root beer.
3. Absolute Advantage: Megan
The person with the absolute advantage is the person that can produce more goods with the same amount of costs. Megan can make more pizza in a smaller amount of time than Susan so she has Absolute advantage.
Comparative Advantage: Megan
The person with a Comparative advantage is the one that has the lowest opportunity cost when producing a good. Megan again has a lower opportunity cost with an opportunity cost of 2/3 gallons.