The net income reported on the income statement of Whispering Winds Corp. for the current year was $1251000. Depreciation recorded on plant assets was $236000. Accounts receivable and inventories increased by $66000 and $44000, respectively. Prepaid expenses and accounts payable decreased by $6000 and $61000, respectively. How much cash was provided by operating activities during the year

Answers

Answer 1

Answer:

$1,454,000

Explanation:

Calculation to determine How much cash was provided by operating activities during the year

Using this formula

Operating activities=Net income+Depreciation+ Increased in Accounts receivable -Increased in inventories + Decreased in Prepaid expenses - Decreased in accounts payable

Let plug in the formula

Operating activities=$1251000 + $236000 -$66000 - $44000 +$6000 - $61000

Operating activities=$1,454,000

Therefore the amount of cash was provided by operating activities during the year is $1,454,000

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Suppose a State of New York bond will pay $1,000 ten years from now. If the going interest rate on these 10-year bonds is 5.5%, how much is the bond worth today

Answers

Answer:

Price of Bond = 585.43

Explanation:

The value of the bond is the present value(PV) of the future cash receipts expected from the bond. The value is equal to present values of interest payment plus the redemption value (RV).

The question does not provide information about interest payment therefore the price of the bond is the present value.

PV of redemption Value

PV = F × (1+r)^(-n)

F-1000, r-0.055, n- 10 ×2

PV = 1,000 × 1.055^(-10)

PV = 585.43

Price of Bond =$ 585.43

Job 607 was recently completed. The following data have been recorded on its job cost sheet:Direct Materials $3,405 Direct Labor Hours 50 labor hoursDirect Labor wage rate $13 per labor hourMachine Hours 158 machine hoursThe company applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $14 per machine-hour. The total cost that would be recorded on the job cost sheet for Job 607 would be:

Answers

Answer:

Total cost= $6,267

Explanation:

Giving the following information:

Direct Materials $3,405

Direct Labor Hours 50 labor hours

Direct Labor wage rate $13 per labor hour

Machine Hours 158

The predetermined overhead rate is $14 per machine-hour.

To calculate the total cost, we need to use the following formula:

Total cost= direct material + direct labor + allocated overhead

Total cost= 3,405 + 13*50 + 14*158

Total cost= $6,267

Final answer:

The total cost recorded on the job cost sheet for Job 607 would be $6,267, as calculated by summing the cost of direct materials, direct labor, and applied manufacturing overhead.

Explanation:

To calculate the total cost that would be recorded on the job cost sheet for Job 607, you must add up all the individual costs associated with the job. This includes the direct materials, direct labor, and applied manufacturing overhead costs.

Direct materials are already given as $3,405. Direct labor can be calculated by multiplying the labor hours by the wage rate ($13 * 50), which gives $650. The manufacturing overhead is calculated by multiplying the machine hours by the predetermined overhead rate (158 * $14), which comes out to $2,212.

So, the total cost for Job 607 is the sum of all these, that is, $3,405 + $650 + $2,212 = $6,267. Thus, $6,267 would be the total cost recorded for Job 607 on the job cost sheet.

Learn more about Job Costing here:

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From Jan. 1, 1960 to Jan. 1, 1985, the historical average annual rate of return in the hypothetical country of Westeros was 12%. The annual standard deviation of the rate of return is 10%. What is the upper bound of the 95.4% confidence interval for the annual rate of return based on this information?a. 16%.
b. 10%.
c. 12%.
d. 14%.
e. 8%.

Answers

Answer:

a. 16%.

Explanation:

According to the given situation, the calculation of the upper bond is shown below:-

Upper bond = Mean return + Z Value (Standard deviation ÷ SQRT(n))

= 12% + 2 × (10% ÷ 5)

= 16%

Note :- 95.4% confidence level has "Z Value" OF 2. (consider cumulative normal distribution table)

Therefore for computing the upper bond we simply applied the above formula.

Calculate the WACC for the following data: A company raised $100,000,000. $50,000,000 came from the sale of bonds which have a current yield of 8%. $25,000,000 came from the sale of common stock which has a cost equal to 9%. The final $25,000,000 came from the sale of preferred stock which has a cost equal to 10%. The company's tax rate is 30%.Question 32 options:

A)
7.55%

B)
9.17%

C)
9.00%

D)
8.00%

Answers

Answer:

WACC = 7.55 %

so correct option is A) 7.55%

Explanation:

given data

company raised = $100,000,000

sale of bonds = $50,000,000

current yield = 8%

sale of common stock = $25,000,000

cost equal = 9%

sale of preferred stock =$25,000,000

cost equal = 10%

tax rate = 30%

to find out

WACC

solution

we get here WACC that is express as

WACC = ( Weight of debt × After tax cost of debt) + (Weight of equity × Cost of equity) + (Weight of preferred stock × cost of preferred stock) ..................1

and cost of debt after tax will be

cost of debt after tax = 8% of ( 1 - 30%)

cost of debt after tax = 5.6%

and Weight of debt = $(50000000)/(100000000)$ = 0.50

and Weight of equity = $(25000000)/(100000000)$ = 0.25

and Weight of preferred stock = $(25000000)/(100000000)$ = 0.25

so WACC = ( 0.50 × 0.056 ) + ( 0.25 × 0.09 ) + ( 0.25 × 0.10 )

WACC = 0.0755

WACC = 7.55 %

so correct option is A) 7.55%

E18-20 (LO3) (Sales with Returns) Organic Growth Company is presently testing a number of new agricultural seeds that it has recently harvested. To stimulate interest, it has decided to grant to five of its largest customers the unconditional right of return to these products if not fully satisfied. The right of return extends for 4 months. Organic Growth estimates returns of 20%. Organic Growth sells these seeds on account for $1,500,000 (cost $750,000) on January 2, 2017. Customers are required to pay the full amount due by March 15, 2017.Prepare the journal entry for Organic Growth at January 2, 2017.

Answers

Answer:

Debit: Accounts receivable with 1,500,000

Sales account with 1,500,000

Explanation:

Journal entry for Organic Growth at January 2, 2017 will appear in the book as follows:

Details DR ($) CR ($)

Accounts receivable 1,500,000

Sales account 1,500,000

Being the sales of Organic Growth on credit

ne year ago, a U.S. investor converted dollars to yen and purchased 100 shares of stock in a Japanese company at a price of 3,150 yen per share. The stock's total purchase cost was 315,000 yen. At the time of purchase, in the currency market 1 yen equaled $0.00952. Today, the stock is selling at a price of 3,465 yen per share, and in the currency market $1 equals 145 yen. The stock does not pay a dividend. If the investor were to sell the stock today and convert the proceeds back to dollars, what would be his realized return on his initial dollar investment from holding the stock

Answers

Answer:

realized loss = -20.31%

Explanation:

stock price ¥3,150, total operation ¥315,000

in US dollars = ¥315,000 x $0.00952 = $2,998.80

current market price ¥3,465, total operation ¥346,500

in US dollars = ¥346,500 / ¥145 = $2,389.66

realized loss = (current value in US dollars - initial investment) / initial investment = ($2,389.66 - $2,998.80) / $2,998.80 = -20.31%

Even though the stock price increased significantly (10%), the yen depreciated against the dollar even more (-38%)

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Strong Metals Inc. purchased a new stamping machine at the beginning of the year at a cost of $1,567,500. The estimated residual value was $82,500. Assume that the estimated useful life was five years and the estimated productive life of the machine was 300,000 units. Actual annual production was as follows: Year Units 1 70,000 2 67,000 3 50,000 4 73,000 5 40,000 Required: 1. Complete a separate depreciation schedule for each of the alternative methods. a. Straight-line. b. Units-of-production. c. Double-declining-balance.

O’Dell Vegetables purchased a harvesting machine on July 1, 2016, for $984,000. The machine was estimated to have a useful life of 8 years with an estimated salvage value of $140,000. O’Dell uses the straight-line method of depreciation. During 2019, it became apparent that the machine would become uneconomical after December 31, 2023, and that the machine would have no scrap value. What should be the charge for depreciation in 2019 under generally accepted accounting principles?

The Skulls, a student social organization, has two different locations under consideration for constructing a new chapter house. The Skulls' president, a POM student, estimates that due to differing land costs, utility rates, etc., both fixed and variable costs would be different for each of the proposed sites, as follows: Location Annual Fixed Variable Alpha Ave. $ 5,000 $ 200 per person Beta Blvd. $ 8,000 $ 150 per person What would be the total annual costs for the Alpha Ave. location with 20 persons living there