Answer:
$18,880
Explanation:
Current Liabilities are those liabilities which need to be paid within on year time. These liabilities are also called short term liabilities.
Following Liabilities are considered as the current liabilities because these needs to be paid within one year.
Accounts Payable $13,000
Employee Health Insurance Payable $450
Employee Income Tax Payable $400
Estimated Warranty Payable $600
FICA—OASDI Taxes Payable $560
Sales Tax Payable $370
Current Portion of Long-Term Notes Payable $3,500
Total Current Liabilities $18,880
Following are all the Non current liabilities balances:
Long-Term Notes Payable(Due 2019) 33,000
Mortgage Payable(Due 2020) 6,000
Bonds Payable(Due 2021) 53,000
b. $50,000
c. $75,000
d. $75,000
Answer:
Cost of hedging = $24,000
Explanation:
cost of hedging = 1,200,000 * ($0.80 - $0.82) = 1,200,000 * $0.02 = -$24,000
Since the actual forward rate was higher than th eexpected forward rte, the coampny lost money by hedging the operation. The cost of hedging the operation was $24,000.
Answer:
c. initially decreases the firm's taxes
Explanation:
Accelerated depreciation provides for a higher rate of capital allowance on the assets that is New and Unused and brought in the business for use in manufacturing for the first time. This allowance then lowers for the other years. The purpose of this is to encourage investment in plant and equipment as it initially decreases the firm's taxes.
Using accelerated depreciation initially decreases the firm's taxes. The method increases the firm's expenses in the early years, reducing taxable income and therefore the tax owed. It neither initially increases profits nor discourages investment in plant and equipment.
The use of accelerated depreciation primarily has the following effect: it initially decreases the firm's taxes. When a business uses accelerated depreciation, a larger portion of a plant or equipment's total cost is expensed in the early years of its useful life.
This initially increases the company's expenses, thereby reducing the firm's taxable income and consequently, the amount of taxes that it owes. Over time, however, the amount of depreciation would decrease, but in the beginning, the tax burden is significantly lowered.
This method does not increase the firm's profits initially, nor does it discourage investment in plant and equipment. Instead, it promotes such investments as it offers tax advantages.
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Answer:
Check the explanation
Explanation:
Kindly check the attached image below to see the step by step explanation to the question above.
a. Determine the balance in the Retained Earnings account as of January 31, Year 1.
b. Determine the balance in the Revenue and Expense accounts as of January 31, Year 1.
c. Determine the balance in the Retained Earnings account as of December 31, Year 1, before closing.
d. Determine the balances in the Revenue and Expense accounts as of December 31, Year 1, before closing.
e. Determine the balance in the Retained Earnings account as of January 1, Year 2.
f. Determine the balance in the Revenue and Expense accounts as of January 1, Year 2.
Answer:
a. $2,700
b. Revenue = $7,500 and Expenses = $4,800
c. $37,700
d. Revenue = $93,500 and Expenses = $55,800
e. $37,700
f. Revenue = $0 and Expenses = $0
Explanation:
a. Balance in the Retained Earnings account as of January 31, Year 1.
Revenue $7,500
Less Expenses ($4,800)
Net Profit $2,700
Retained Earnings Balance = Opening Retained Earnings + Profit - Dividends
= $ 0 + $2,700 - $ 0
= $2,700
b. Balance in the Revenue and Expense accounts as of January 31, Year 1.
Revenue = $7,500
Expenses = $4,800
c. Balance in the Retained Earnings account as of December 31, Year 1, before closing.
Retained Earnings Balance = Opening Retained Earnings + Profit - Dividends
= $2,700 + ($86,000 - $51,000) - $0
= $37,700
d. Balances in the Revenue and Expense accounts as of December 31, Year 1, before closing.
Revenue ($7,500 + $86,000) = $93,500
Expenses ($4,800 + $51,000) = $55,800
e. Balance in the Retained Earnings account as of January 1, Year 2.
Retained Earnings of December 31, Year 1 = Retained Earnings of January 1, Year 2
= $37,700
f. Balance in the Revenue and Expense accounts as of January 1, Year 2.
Revenue = $0
Expenses = $0
Answer:
APR is 17.16 percent
Explanation:
APR means annual percentage rate and is calculated annually.
APR = 1.43 percent * 12 months = 17.16 percent
The Annual Percentage Rate (APR) for a credit card that charges a monthly interest rate of 1.43 percent is approximately 17.16 percent. This is calculated by multiplying the monthly rate by the number of months in a year.
The Annual Percentage Rate (APR) is the yearly rate charged for borrowing and is expressed as a percentage that represents the actual yearly cost of funds over the term of a loan. The APR on your credit card takes into consideration a monthly interest rate, which in your case is 1.43 percent.
To calculate the APR, you need to multiply your monthly interest rate by the number of months in a year. Thus, 1.43 percent (or 0.0143 in decimal form) multiplied by 12 months gives you an APRof approximately 17.16 percent.
So, the APR on your credit card, if it charges you 1.43 percent per month, would be around 17.16 percent.
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Answer:
a) 6+/- 2%; 3+/- 2%
b) 8+/- 2%; 1+/- 2%
c) 3+/- 2%
Explanation:
The market equilibrium price is $5 per bushel. With the price floor of $8 per bushel, the quantity sold is 4 thousand bushels, creating a surplus.
The market equilibrium is determined by the intersection of demand and supply curves. At this point, the price and quantity are in balance. In this case, the equilibrium price is $5 per bushel and the equilibrium quantity is 2 thousand bushels.
With the price floor set at $8 per bushel, the price is held above the equilibrium price. This leads to a surplus, where the quantity supplied exceeds the quantity demanded. The price will remain at $8 per bushel, and the quantity sold will be 4 thousand bushels.
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