On January 1, 2021 M.T. Glass purchased the following investments: 1. 7,500 shares (representing 15%) of ZZ Company stock for $98,000 2. 25,000 shares (representing 40%) of AA Company stock for $440,000 M.T. Glass recorded the sale of some of its investments in 2022 as follows: 1. September 1 sold 5,000 shares of the ZZ Company stock for $76,000 2. December 31 sold 4,000 shares of the AA Company stock for $120,000 AA Company and ZZ Company reported the following information for the years 2021 and 2022: AA Company ZZ Company Net income in 2021 $260,000 $200,000 Dividends paid to M.T. Glass in 2021 $24,000 $15,000 Market value at Dec 31, 2021 $27 per share $22 per share Net income in 2022 $160,000 $225,000 Dividends paid to M.T. Glass in 2022 $41,000 $5,000 Market value at Dec 31, 2022 $24 per share $28 per share Calculate the amount of the realized gain reported in M.T. Glass' 2022 income statement resulting from the sale of the AA Company stock.

Answers

Answer 1
Answer:

Answer:

$15000

Explanation:

If the investor the outstanding shares of the other company which is less than 20% then we can report the unrealized gains or losses in the income statement. The unrealized gain can be calculated as follows:

check the attachment below


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Walker Telecommunications has a quick ratio of 2.00x, $35,550 in cash, $19,750 in accounts receivable, some inventory, total current assets of $79,000, and total current liabilities of $27,650. The company reported annual sales of $200,000 in the most recent annual report. Over the past year, how often did Walker Telecommunications sell and replace its inventory?

a) 9.28x b) 8.01x c) 8.44x d) 2.86x

Answers

Answer:

c) 8.44x

Explanation:

Total current assets = cash + account receivable + inventory

⇔ $79,000 = $35,550 + $19,750 + Inventory

⇒ Inventory = $79,000 - $35,550 - $19,750 = $23,700

The inventory circles based on annual sales = Sales/ inventory = $200,000/ $23,700 = 8.44

The calculate how often Walker Telecommunications sold and replaced its inventory over the past year, we can use the Inventory Turnover Ratio formula.

Inventory Turnover Ratio = Cost of Goods Sold (COGS) / Average Inventory

However, we don't have the exact COGS information, but we can use the Cost of Goods Sold to Sales ratio (COGS/Sales) to estimate it.

Given that the company reported annual sales of $200,000, we need to find the COGS.

COGS/Sales = (COGS) / ($200,000)

We can rearrange the formula to find COGS:

COGS = (COGS/Sales) * ($200,000)

To find the average inventory, we can use the following formula:

Average Inventory = (Beginning Inventory + Ending Inventory) / 2

Since we are looking at how often inventory is sold and replaced, we don't need the specific values for beginning and ending inventory.

We can use the total current assets and the quick ratio to estimate the average inventory:

Quick Ratio = (Total Current Assets - Inventory) / Total Current Liabilities

Solving for Inventory:

Inventory = Total Current Assets - (Quick Ratio * Total Current Liabilities)

Now, we can calculate the inventory turnover ratio:

Inventory Turnover Ratio = COGS / Average Inventory

Substitute the values we found:

Inventory Turnover Ratio = (COGS) / [(Total Current Assets - (Quick Ratio * Total Current Liabilities)) / 2]

Inventory Turnover Ratio = [(COGS/Sales) * ($200,000)] / [(Total Current Assets - (Quick Ratio * Total Current Liabilities)) / 2]

Plugging in the given values:

Inventory Turnover Ratio = [(COGS/Sales) * ($200,000)] / [(79,000 - (2.00 * 27,650)) / 2]

Now, calculate the Inventory Turnover Ratio:

Inventory Turnover Ratio ≈ 8.44x

So, over the past year, Walker Telecommunications sold and replaced its inventory approximately 8.44 times.

Therefore, the answer is (c) 8.44x.

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The Refining Department of​ SweetBeet, Inc. had 74,000, tons of sugar to account for in July. Of the 74,000 ​tons, 42,000 tons were completed and transferred to the Boiling​ Department, and the remaining 32,000 tons were 60​% complete. The materials required for production are added at the beginning of the process. Conversion costs are added evenly throughout the refining process. The weightedminus−average method is used. Calculate the total equivalent units of production for direct materials.

Answers

Answer:

The total equivalent units of production for direct materials is 74000 Units.

Explanation:

materials required for production are added at the beginning of the process. So whatever the Total amount of materials required for 74000 Tons as been added at beginning of the Production (in July). For the Purpose of materials we need to consider 100% Completed.

total Equalent Units = Total Units Started

                                 = 74000 Units

Therefore, The total equivalent units of production for direct materials is 74000 Units.

What is reported on the statement of cash flows prepared with the indirect method for the year ended December 31, 2020? Assume there were no retirements of common stock or additional purchases of Treasury Stock during 2020. No dividends were declared in 2020. (A) Financing Activity of $144,000
(B) Operating Activity $16,000
(C) Financing Activity of $161,000
(D) B and C

Answers

Answer:

(C) Financing Activity of $161,000

Explanation:

Financing activities: It records those activities which affect the long term liability and shareholder equity balance. The issue of shares is an inflow of cash whereas redemption and dividend is an outflow of cash.

The missing information is below the question in ask for details

Cash flow from Financing activities  

Issue of common stock $144,000             ($159,000 - $15,000)

Issue of treasury stock $17,000                ($110,000 - $93,000)

Net Cash flow from Financing activities        $161,000

Final answer:

The statement of cash flows with the indirect method will report on operating and financing activities, but given the lack of details in the question, it is impossible to confirm whether the operating activity of $16,000 or financing activity of $161,000 or both are reported.

Explanation:

The student inquired about what is reported on the statement of cash flows prepared with the indirect method as of December 31, 2020. Given there were no transactions involving common stock or Treasury Stock, and no dividends were declared, the potential activities reported would pertain to either operating activities or financing activities. Since the question does not provide specific details about the company’s cash flows from operating activities or financing activities, it is not possible to accurately determine whether option B ($16,000 Operating Activity) or C ($161,000 Financing Activity) is included in the statement of cash flows. Therefore, the question cannot be conclusively answered without additional details. It would be necessary to have the company’s income statement and changes in working capital to determine the cash flows from operating activities, as well as details on any loans or other financing activities to report financing activities.

Learn more about Statement of Cash Flows here:

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The rate on T-bills is currently 5%. P. Tree Company stock has a beta of 1.69 and a required rate of return of 15.4%. According to CAPM, determine the return on the market portfolio.

Answers

Answer:

11.15%

Explanation:

Given that

Risk free rate of return= 5%

Beta = 1.69

Expected rate of return = 15.4%

As per capital asset pricing model

Expected rate of return = Risk free rate of return + Beta × (Market rate of return - risk free rate of return)

15.4% = 5% + 1.69 × (Market rate of return - 5%)

After solving this

Market rate of return = 11.15%

In 2007, the Office of Management and Budget (OMB) defined personally identifiable information (PII) as: "Information which can be used to distinguish or trace an individual’s identity, such as their name, social security number, biometric records, etc. alone, or when combined with other personal or identifying information which is linked or linkable to a specific individual, such as date and place of birth, mother’s maiden name, etc."True or false?

Answers

Answer:

True

Explanation:

Personally identifiable information (PII) is generally considered sensitive information, but not always. It depends on the context and how the information is used. PII is considered sensitive if i can be used to identify, locate or contact and individual and put him/her in danger.

E.g. Social security number  , contact information, bank account information, medical information, employment information, student ID, date of birth, parent names, etc.

A recent study about online shopping asked respondents to indicate their education level on the following scale "Less than High School, " "High School, " "Some College, " "College+". Which of the following statements is (are) I. Education level is a categorical variable.II. Education level is nominal scaled.III. Education level is ordinal scaled. A. I onlyB. III onlyC. Both I and IIID. Both I and III

Answers

Answer:

C. Both I and III.

Explanation:

The education level is categorical variable and is ordinal scaled.

Ordinal level is a second level statistical measurement technique. It allows ranks to the data for its categorization and degree of variation is not determined between data.  Education level is ordinal scale because it provides orders of quantitative data.