AT&T Time Warner Merger Rushil Shah
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The University of Texas at Austin
McCombs School of Business
Fin 370 Grade Sheet
Name ____Rushil Shah ____________________________ Section __
Case___AT&T Merger with Time Warner_________ Quantitative and Qualitative Analysis:
1 2 3 4 5 6
Recommendation - Appropriate and Effective:
1 2 3
Quality and Clarity of Writing (including format):
1 2 3 4
Items you have covered are highlighted below:
Comments: Strategic rationale: vertical integration by adding content and channels to distribution (2 points); positive synergies – adding exclusive content could increase attraction to distribution; elimination of some corporate overhead; access to advertising revenue (2); negative synergies – Warner Brothers might become less available/valuable if AT&T tries to withhold access; competitors could respond negatively (2); cultural fit horrible – AT&T is in commoditized space with expense control, quality and consistency required; TW is in creative space; expenses are justified by creating differentiated content; star power and inconsistency (2).
Intrinsic Valuation
: WACC is 9.80% calculated (2). 2016 FCF is $5,245 MM calculated (2). 7% growth in FCF for 5 years, then 3% thereafter is scenario #1; 8% growth for 5 years then 3% thereafter to include synergies for scenario #2. Correct use of Gordon growth yields share price of $90.34 to $95.44 (with synergies). Cannot come up with a base case from scratch – not enough material. (4). Relative valuation methods
: EV/EBITDA and P/E ratio
. Sum of the divisions required for the EV/EBITDA valuation. (4). Relative valuation – precedent transactions
: Exclude outlier and discuss. Price range of $92.51 to $107.09 – control premium is included which accounts in part for the higher valuation. (4)
Price or price range must be specified. Not simply whether value is correct or incorrect. (2)
Grade _90_________
Scale: 13=100, 12=96, 11= 92, 10=88, 9=84, 8=80, 7=76, 6=72, 5=68, 4=64, 3=60
1
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pject: Company Accour X
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Return on Total Assets
A company reports the following income statement and balance sheet information for the current year:
Net income
$224,540
Interest expense
39,620
000'080
Determine the return on total assets. If required, round the answer to one decimal place.
Average total assets
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Divide the sum of net income and interest expense by average total assets.
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Journalizing Installment Notes
On the first day of the fiscal year, a company issues $52,000, 11%, five-year installment notes that have annual payments of $14,070. The first note
payment consists of $5,720 of interest and $8,350 of principal repayment.
a. Journalize the entry to record the issuance of the installment notes. If an amount box does not require an entry, leave it blank.
38
b. Journalize the first annual note payment. If an amount box does not require an entry, leave it blank.
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ABC 103
CINDAMENTALS OF ABM 1
ST. ANTHONY'S COLLEGE
Business Education Department
San Jose de Buenavista, 5700 Antique
ARTIBUR
Tel. No. (036) S409238; 5400898; 5409971 Tel. No.: (036) 5409196
Website: www.sac.edu.ph Email: Info@sac.edu.ph; bused@sac.edu.ph
In SAC, we carel
Covid Repair Shop
Worksheet
Unadjusted Trial Balance
Deblt
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Credit
Adjusted Trial Balance
Debit
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Account No.
Account Titles
Credit
Debit
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33,450
1,200
15,000
2,000
33,450
1,200
8,500
2,000
1,200
30,000
Cash
Accounts Recelvable
Repair Supplies
Prepaid Rent
Prepaid Advertising
Repair Tools
Accumulated Depreciation-RT
Fumiture & Fixtures
Accumulated Depreciation-F&F
Service Equipment
Accumulated Depreciation-SE
Accounts Payable
Notes Payable
Accrued Interest Expense
Accrued Salaries Expense
Accrued Rent Expense
Unearned Repair Revenues
Covid, Capital
Covid, Drawings
Income Summary
Repair Revenues
Advertising Expense
Rent Expense
Salaries Expense
Utilities Expense
Interest Expense…
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Read and summarise the following standards in not more than 2 pages for each standard. 1. IAS 28 Investment in Associates 2. IFRS 11 Joint Arrangements
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Ch12 Homework
Question 17 of 20
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X Your answer is incorrect.
Elkins and Landry are partners who share income and losses in the ratio of 3:2, respectively. On August 31, their capital balances were:
Elkins, $149000 and Landry, $116000. On that date, they agree to admit Neumark as a partner with a one-third capital interest. If
Neumark invests $98000 in the partnership, what is Landry's capital balance after Neumark's admittance?
O $121000
O $104800
O $116000
O $106800
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Increase by 250.
Decrease by 250.
Increase by 12,000.
Question 5 - Exa x
Decrease by 8,000.
Forrester Company is considering buying new equipment that would increase monthly fixed costs
from $120,000 to $150,000 and would decrease the current variable costs of $70 by $10 per unit.
The selling price of $100 is not expected to change. Forrester's current break-even sales are
$400,000 and current break-even units are 4,000. If Forrester purchases this new equipment, the
revised break-even point in units would:
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Current Position Analysis
The following items are reported on a company's balance sheet:
$365,600
Marketable securities
285,700
Accounts receivable (net)
254,900
Inventory
236,400
Accounts payable
394,000
Determine (a) the current ratio and (b) the quick ratio. Round to one declmal place.
a. Current ratio
b. Quick ratio
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a. Divide current assets by current liabilities.
b. Divide quick assets by current liabilities. Quick assets are cash, temporary investments, and receivables.
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Table of Contents > Week 9: Operational and legal Considerations > Lecture Notes > 09 Operational and Legal Considerations
09 Operational and Legal Considerations -
>
Calculating Capacity
• How many machines do you need?
• You expect your sales to be
3,000,000 granola bars (20g each)
• How large is your plant?
per month
• How many workers do you need?
The machine:
• How much is the investment?
Capacity: 100 kgs per hour
• What are the operating costs?
Requires 2 people to operate it
Takes 8 ft x 40 ft space
• Cost per machine $15,000
Energy and maintenance: $5 per hour
• Cost of material and packaging:
$0.12 per bar
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ACCT-1170-017-Fall 2024-Principles of Managerial Accounting
Question Completion Status:
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QUESTION 1
Take Test: Unit 4 Homework
Relaunch to update:
Freeman Furnishings has summarized its data as shown. Direct labor hours will be used as the activity
base to allocate overhead:
Raw materials purchased
$ 320,000
Raw materials, beginning inventory
Raw materials, ending inventory
15,000
14,000
Work in process, beginning inventory
35,000
0
Work in process, ending inventory
37,000
Estimated overhead
300,000
Depreciation of factory building
50,000
Factory real estate taxes
Factory utility expenses
Indirect materials
7,382
45,000
20,000
Indirect labor
Direct labor cost
Direct labor hours incurred
11,000
100,000
24,000
Estimated direct labor hours
25,000
Compute the cost of goods manufactured.
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The following details relates to the operations of a company for budgeted output of 10000units; selling price- GHC100, total
variable cost- GH¢200000, and total fixed cost- GHC400000. At what quantity and value will the company breakeven?
O A. 5000units and GHC50000
O B. 5000units and GHC55000
OC. 4500units and GHC45000
O D. 4000unit and GHC40000
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Question 8 of 20
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Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of
the transaction. (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 O for the amounts.)
connect
Owner invested $66,500 in exchange for common stock of the corporation.
Hired an employee to be paid $500 per week, starting tomorrow.
Paid two years' rent in advance, $7,100.
Paid the worker's weekly wage.
Recorded service revenue…
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Need an answer for question B (i ii)
(b) Obtain the most recent annual reports for TWO FTSE 100 companies of your choice (NOTE: you need to make sure the companies chosen have more than one operational segment and thus have meaningful segment notes for analysis). Examine the segmental disclosures provided in the segment notes of the annual reports by the selected two companies and comment on the following:i. Based on extracts from the segment notes,• how much and what segmental information is provided in the segment notes?• discuss whether the companies are in compliance with the relevant accounting standard, and• discuss the similarities and differences between their disclosure practices.
ii. Comment on whether the information is useful and sufficient to allow shareholders to make informed investment decisions
Please don't share the answers if possible because it will cause plagiarism. thank you for your support.
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Question 15
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Concord Industries has equivalent units of 7100 for materials and for conversion costs. Total manufacturing costs are $124370. Total
materials costs are $91000. How much is the conversion cost per unit?
O $17.52.
O $4.70.
$12.82.
O $30.33
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A process with no beginning work in process, completed and transferred out 85200 units during a period and had 50100 units in the
ending work in process inventory that were 20% complete. The equivalent units of production for the period for conversion costs were:
O 95220 equivalent units.
O 135300 equivalent units.
O 70200 equivalent units.
O 85200 equivalent units.
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Please do question 1-4. Thanks
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Please create the following:
Marketing Aspect:
• Marketing Segmentation
• Target Markets
• Promotional Activities
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aims to identify, record, and communicate information about
business activities. It helps assess opportunities, products,
investments, and social and community responsibilities.
Users of accounting are both internal and external. Some
users and uses of accounting include (a) managers in
controlling, monitoring, and planning; (b) lenders for
measuring the risk and return of loans; (c) shareholders for
assessing the return and risk of stock; and (d) employees for
judging employment opportunities. Opportunities in
accounting include financial, managerial, and tax accounting.
Csuterstack/Fory burrow
OGlow Asia/Saperstock
130s
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1x
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Knowledge Check 01
Match the term and the definition.
Definition
The recording of transactions and events only, either manually or electronically.
An information and measurement system that identifies, records, and communicates relevant,
reliable, and comparable information about an organization's business activities.
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Oo.54.
Subject:- Account
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Homework: Corporate Reporting X M Question 10 Homework.
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Dorate Reporting and Analysis Problems...
X
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Required information
[The following information applies to the questions displayed below.]
Raphael Corporation's balance sheet shows the following stockholders' equity section.
Preferred stock-5% cumulative, $ par value, 1,000 shares authorized, issued, and outstanding
Common stock-$ par value, 4,000 shares authorized, issued, and outstanding
Retained earnings
Total stockholders' equity
Total amount paid to the preferred shareholders
Total amount paid to the common shareholders
$ 75,000
100,000
400,000
$575,000
2. If two years' preferred dividends are in arrears at the current date and the board of directors declares cash dividends of $23,750,
compute the total amount paid to (a) preferred shareholders and (b) common shareholders.
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Problem 1.
2.
Odette Electronics has 90 operating plants in seven southwestern states. Sales for
last year were P100 million, and the statement of financial position at year-end is
similar in percentage of sales to that of previous years (and this will continue in the
future). All assets (including fixed assets) and current liabilities will vary directly with
sales.
Statement of Financial Position
(in P millions)
Assets
Liabilities and Equity
Cash.....
P2
Accounts payable....
P15
Accounts receivable...
20
Accrued wages....
2
Inventory....
23
Accrued taxes.
8
Current assets..
P45
Current liabilities.
P25
Fixed assets...
40
Notes payable...
10
Ordinary shares.
15
Retained earnings...
35
Total assets..
P85
Total liabilities and equity..
P85
Odette's has an after-tax…
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Please see question in picture attached to fill in table. Thank you
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Question 7 of 13 - Module One
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Module One Problem Set
Question 7 of 13
-/4
==
Your first internship assignment is to prepare two schedules for Windsor Blue Co., a manufacturing company. You have a file that
contains a copy of last year's work for both schedules; you plan to follow the same format as last year, hoping the staff accountant had
it right. You also have access to the full set of financials for Windsor Blue, and you can dig further into any of the accounts via the
accounting system, too.
Here's the information you have pulled, with the same items as last year.
DM Inventory
WIP Inventory
FG Inventory
DM purchases
DL costs
Production supervisor salary
Utility costs in production space
Depreciation on manufacturing facility and equipment
Beginning of Year
End of year
$9,200
$10,000
21,000
13,000
6,300
8,000
153,000
232,000
56,000
14,000
42,000
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$1,900,000.
$2,800,000.
Question 13 - E X
B
During its most recent fiscal year, Dover, Incorporated had total sales of $3,200,000. Contribution
margin amounted to $1,500,000 and income was $400,000. What amount should have been
reported as variable costs in the company's contribution margin income statement for the year?
$1,300,000.
$1,100,000.
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BAB140 Lab#3 Ch4 W2022
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Crane Corporation reports the following adjusted account balances, shown in alphabetical order, at the end of its fiscal year, February
28, 2021:
Accounts payable
12,600
Income tax payable
4,700
Accounts receivable
27,100
Insurance expense
3,400
Accumulated depreciation-equipment
5,400
Prepaid insurance
2,900
Cash
17,600
Rent expense
5,800
Common shares
10,100
Retained earnings
20,100
Depreciation expense
4,400
Salaries expense…
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C Home - my.centennialcollege.ca X DEL Chapter 4 Lab Assignment - 23W X
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Assignment (001 22F)
Question 5 of 7
(a1)
$2,120
49,100
21,300
34.490
Notes payable (long-term)
62,200
Cash
Accounts receivable
Accumulated depreciation-equipment
4,030 D. Pharoah, drawings
Depreciation expense
8,800 D. Pharoah, capital (beginning of the year)
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$1,720
13,000
9,700
6,050
2,980
3,950
Prepare an income statement for the year. (Enter negative amounts using either a negative sign preceding
parentheses e.g. (45).)
49,600
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- pject: Company Accour X DEL. Project Guidelines and Rubric x DEL 7-1 Problem Set: Module Sev X CengageNOWv2 |Online tea x com/ilm/takeAssignment/takeAssignmentMain.do?invoker3D&takeAssignmentSessionLocator3D&inprogress=false eBook 4Show Me How Return on Total Assets A company reports the following income statement and balance sheet information for the current year: Net income $224,540 Interest expense 39,620 000'080 Determine the return on total assets. If required, round the answer to one decimal place. Average total assets Feedback Check My Work Divide the sum of net income and interest expense by average total assets. Check My Work ( Previous *AD dyarrow_forwardage X * Cengage X Cengage X Cengage x MindTar x MindTap X G module x S ACC202 com/ilm/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false eBook Show Me How Journalizing Installment Notes On the first day of the fiscal year, a company issues $52,000, 11%, five-year installment notes that have annual payments of $14,070. The first note payment consists of $5,720 of interest and $8,350 of principal repayment. a. Journalize the entry to record the issuance of the installment notes. If an amount box does not require an entry, leave it blank. 38 b. Journalize the first annual note payment. If an amount box does not require an entry, leave it blank. Previous Next Check My Work 6:34 PM 55°F 11/27/2021arrow_forwardABC 103 CINDAMENTALS OF ABM 1 ST. ANTHONY'S COLLEGE Business Education Department San Jose de Buenavista, 5700 Antique ARTIBUR Tel. No. (036) S409238; 5400898; 5409971 Tel. No.: (036) 5409196 Website: www.sac.edu.ph Email: Info@sac.edu.ph; bused@sac.edu.ph In SAC, we carel Covid Repair Shop Worksheet Unadjusted Trial Balance Deblt Adjustments Credit Adjusted Trial Balance Debit Income Stateme C Debit Account No. Account Titles Credit Debit Credit 33,450 1,200 15,000 2,000 33,450 1,200 8,500 2,000 1,200 30,000 Cash Accounts Recelvable Repair Supplies Prepaid Rent Prepaid Advertising Repair Tools Accumulated Depreciation-RT Fumiture & Fixtures Accumulated Depreciation-F&F Service Equipment Accumulated Depreciation-SE Accounts Payable Notes Payable Accrued Interest Expense Accrued Salaries Expense Accrued Rent Expense Unearned Repair Revenues Covid, Capital Covid, Drawings Income Summary Repair Revenues Advertising Expense Rent Expense Salaries Expense Utilities Expense Interest Expense…arrow_forward
- Question Read and summarise the following standards in not more than 2 pages for each standard. 1. IAS 28 Investment in Associates 2. IFRS 11 Joint Arrangementsarrow_forwardIt says the answer is inarrow_forwardeducation.wiley.com/was/ui/v2/assessment-player/index.html?launchid=81efd2b2-d564-4eeb-b011-67c54ee7e2bb#/question/16 Ch12 Homework Question 17 of 20 > 0/1 View Policies Show Attempt History Current Attempt in Progress X Your answer is incorrect. Elkins and Landry are partners who share income and losses in the ratio of 3:2, respectively. On August 31, their capital balances were: Elkins, $149000 and Landry, $116000. On that date, they agree to admit Neumark as a partner with a one-third capital interest. If Neumark invests $98000 in the partnership, what is Landry's capital balance after Neumark's admittance? O $121000 O $104800 O $116000 O $106800 eTextbook and Media Attempte: 1 of 2uced VO 10:27 !!arrow_forward
- Ourse: ACC_10 X C aterford Applicati... cam Ili 5 SC 04:32:55 Mc Graw McGraw-Hill Edu X ezto.mheducation.com/ext/map/index.html?_con=con&ext... WP WileyPLUS B Bloomberg for Edu... Multiple Choice Increase by 250. Decrease by 250. Increase by 12,000. Question 5 - Exa x Decrease by 8,000. Forrester Company is considering buying new equipment that would increase monthly fixed costs from $120,000 to $150,000 and would decrease the current variable costs of $70 by $10 per unit. The selling price of $100 is not expected to change. Forrester's current break-even sales are $400,000 and current break-even units are 4,000. If Forrester purchases this new equipment, the revised break-even point in units would: Help 0 Save & Exit B Submit X : >>> .co W Vis sec nt w ques pan bor O er uni >que mpa er unit Fixed jess › C ports e followarrow_forward2 Project: Company Accour X D21. 7-1 Problem Set: Module Sev X CengageNOWv2 | Online tea X Cengage Learning +| x Dw.com/ilm/takeAssignment/takeAssignmentMain.do?invoker3&takeAssignmentSessionLocator3D&inprogress%3Dfalse eBook Show Me How Current Position Analysis The following items are reported on a company's balance sheet: $365,600 Marketable securities 285,700 Accounts receivable (net) 254,900 Inventory 236,400 Accounts payable 394,000 Determine (a) the current ratio and (b) the quick ratio. Round to one declmal place. a. Current ratio b. Quick ratio Check My Work a. Divide current assets by current liabilities. b. Divide quick assets by current liabilities. Quick assets are cash, temporary investments, and receivables. Check My Work Previous ELE AD dy f4 f12 prt sc 米arrow_forwardF myCampus Portal Login - for Stu X B 09 Operational and Legal Consid x E (24,513 unread) - sharmarohit81 b My Questions | bartleby A fleming.desire2learn.com/d21/le/content/130754/viewContent/1518900/View?ou=130754 Table of Contents > Week 9: Operational and legal Considerations > Lecture Notes > 09 Operational and Legal Considerations 09 Operational and Legal Considerations - > Calculating Capacity • How many machines do you need? • You expect your sales to be 3,000,000 granola bars (20g each) • How large is your plant? per month • How many workers do you need? The machine: • How much is the investment? Capacity: 100 kgs per hour • What are the operating costs? Requires 2 people to operate it Takes 8 ft x 40 ft space • Cost per machine $15,000 Energy and maintenance: $5 per hour • Cost of material and packaging: $0.12 per bar I Group Project.xlsx Show all 12:35 AM O Type here to search A O 4) ENG 2020-12-09arrow_forward
- > A Blackboard Learn A My Grades - ACCT-1170-017-F X | + 1 U CA k 个 N = X myCT ctccs.blackboard.com/ultra/courses/_209880_1/cl/outline Λ P* ACCT-1170-017-Fall 2024-Principles of Managerial Accounting Question Completion Status: > QUESTION 1 Take Test: Unit 4 Homework Relaunch to update: Freeman Furnishings has summarized its data as shown. Direct labor hours will be used as the activity base to allocate overhead: Raw materials purchased $ 320,000 Raw materials, beginning inventory Raw materials, ending inventory 15,000 14,000 Work in process, beginning inventory 35,000 0 Work in process, ending inventory 37,000 Estimated overhead 300,000 Depreciation of factory building 50,000 Factory real estate taxes Factory utility expenses Indirect materials 7,382 45,000 20,000 Indirect labor Direct labor cost Direct labor hours incurred 11,000 100,000 24,000 Estimated direct labor hours 25,000 Compute the cost of goods manufactured. ہے Click Save and Submit to save and submit. Click Save All…arrow_forward-403-4-S1-2021/tool/212e2e19-3762-49f9-8428-0849d6324b2b/jsf/delivery/deliverAssessment Tube Maps 曲 News Translate I New folder O New folder A 11 Research Propos.. Clicxads.com | Cry.. ACCA TX (F6 UK) N... 国 R Sites JESSE JU Time Remaining: 01:11:58 A Hide Time Remaining A The following details relates to the operations of a company for budgeted output of 10000units; selling price- GHC100, total variable cost- GH¢200000, and total fixed cost- GHC400000. At what quantity and value will the company breakeven? O A. 5000units and GHC50000 O B. 5000units and GHC55000 OC. 4500units and GHC45000 O D. 4000unit and GHC40000 Reset Selection Next Save 11:51 AM 3/18/202 Ps carch hp 立arrow_forwarddoctors EXTRA CREDIT OPPORTUNITY X WP NWP Assessment Player Ul Ap x ← C education.wiley.com/was/ui/v2/assessment-player/index.html?launchid=f9637d14-156f-4cb7-b76a-c0fea4e5b627#/question/7 b bartleby w wiley ←EXTRA CREDIT OPPORTUNITY Question 8 of 20 Current Attempt in Progress 1. 2. 3. CPO 4. bofa workjam (ulta) workjam (ulta) 5. 1. No. Account Titles and Explanation 2. A Player school school b bartleby Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transaction. (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 O for the amounts.) connect Owner invested $66,500 in exchange for common stock of the corporation. Hired an employee to be paid $500 per week, starting tomorrow. Paid two years' rent in advance, $7,100. Paid the worker's weekly wage. Recorded service revenue…arrow_forward
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