A private school wins $90000 in the first year that it established. These revenues increased to $100000 in ten year with uniform increases. What ?is the gradient $1000 O $1111.1 O $2111.1 O $10000. O
Q: On December 31, 2020 you McCormick Ltd. Sells manufacturing equipment to a customer on the following…
A: Journal- A journal keeps track of all of an organization's business transactions. A company may…
Q: Granfield Company has a piece of manufacturing equipment with a book value of $48,500 and a…
A: Working Note: Total savings in variable manufacturing costs = Annual decrease in variable…
Q: Last year, the retailer's weekly variance of demand was 500 units. The variance of orders was 600,…
A: calculation of above requirement are as follows
Q: Fill in the missing amounts in each of the eight case situations below. Each case is independent of…
A: Contribution means the difference between the selling price and variable cost . Fixed cost remain…
Q: Average Rate of Return Determine the average rate of return for a project that is estimated to yield…
A: The average rate of return is an approach of comparison the profit of various selections over the…
Q: Exercise 8-11 Estimating bad debt expense-percentage of sales CHECK FIGURE: d. Accounts…
A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…
Q: The Mazzanti Wholesale Food Company's fiscal year-end is June 30. The company issues quarterly…
A: Journalizing - Journalizing refers to the act of recording the exchange of goods in a journal, and…
Q: Upside Down, Incorporated designs custom storage spaces to eliminate clutter in both residential and…
A: Overhead rate is the per activity rate using which the costs for different activities are computed.
Q: Aaron and Melissa are looking to sell their house for $700,000. They purchased the house seven years…
A:
Q: On January 1, 20X4, Passive Heating Corporation paid $104,000 for $100,000 par value, 9 percent…
A: A consolidated statement is a combined financial statement of the company and its all subsidiary and…
Q: The intangible assets section of Sheffield Company at December 31, 2022, is presented here. Patents…
A: Amortization - The cost of an intangible asset is written down over its usable or legal life,…
Q: Arnold Vimka is a venture capitalist facing two alternative investment opportunities. He intends to…
A: (1) Operating Leverage of Companies (A) Larson Operating Leverage = Contribution÷ EBIT = 72900÷48600…
Q: Describe situations in which you might use a certified check, cashiers check or money order.
A: Certified Check A certified check is a personal check that issued by a drawer in which the payer’s…
Q: The prices of bonds are quoted as a percentage of the bonds' face value. Group of answer choices…
A: Solution: Bonds are debt instrument issued to raise capital that carries fixed rate of interest.…
Q: Stock Split
A: Stock split is a situation where a particular number of shares are offered for each share held of…
Q: The declaration, record, and payment dates in connection with a cash dividend of $108,000 on a…
A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…
Q: On December 31, 2022, Ditka Incorporated had Retained Earnings of $271,800 before its closing…
A: Closing entries are prepared at the year end while preparing financial statements. It is through the…
Q: On Jan 2, 20X1, ABC acquired 20% of the 400,000 ordinary shares of Yellow Co at P30 per share. The…
A: Investment: Investment is the act of acquiring shares of another company by one company. The company…
Q: Which journal entry below would be properly used to record an issuance of an installment note…
A: Notes payable are the negotiable instruments used for deferring payments. In this one-party agree to…
Q: According to IFRS, which accounting policy may an entity apply to measure investment property in…
A: Investment property means any land or building which is neither held for sale nor for the purpose of…
Q: Klamath Company produces a single product. The projected income statement for the coming year is as…
A: Break-even sales revenue produces the net income of $0. Therefore at break-even sales, fixed cost is…
Q: explain why the author's assessment of the appropriateness of the going concern assumptions is so…
A: Going Concern Assumption- As per the going concern assumption business will continue its…
Q: Fanning Corporation estimated its overhead costs would be $22,100 per month except for January when…
A: A budget is an estimation or a financial plan for a defined period, usually one year. It may also…
Q: The following unadjusted trial balance was extracted from the books of KT Supplies at June 30th,…
A: Classified Balance sheet: A financial statement is said to be classified if it contains categories…
Q: The following information relates to Midas Ltd, a small but successful investment holding company.…
A: Here discuss about the details of the investment which are made in the equity for fair value through…
Q: 2. Computer for the Net Present Value using the present value of an annuity. Get the value using…
A: Explanation of the concept Net present value method which is used for decision making for accepting…
Q: When would an auditor be hired to perform a compliance audit.
A: An independent professional who is responsible for the examination of the financial statements of an…
Q: What is the major difference between a periodic and a perpetual inventory system? Oa. Under the…
A: The question is related to Inventory Management. In Perpetual Inventory system the merchandise…
Q: 5. Zebra Company is a diversified entity with nationwide interests in commercial real estate…
A: Provision for employee termination will be included in the income statement of the year ended…
Q: An entity has 20% investment in ordinary shares and 25% investment in preference shares over the…
A: Dividend Income: Returns, in the form of dividends, are delivered to shareholders from the earnings…
Q: Jason's annual CPP contribution, considering a 5.7% deduction is?
A: Given in the question: Work time = 10AM to 6PM It includes 30 Min of unpaid Lunch Hours Worked in a…
Q: 5. Journalize and post the adjusting entries using the following information: a. Insurance expired…
A: Closing Entries - Closing entries are required to close the temporary accounts after making…
Q: During January 2018, Varren, Inc. acquired 30% of the outstanding common stock of Wolf Co. for…
A: A company may invest in another company. The company reports the investment in another company as an…
Q: A company reports the following amounts at the end of the year: Total sales revenue = $560,000;…
A: Net sales is the primary figure or the main figure of importance that accounting and financial…
Q: What amount should be recognized by Naga Company on December 31, 2011 as derivative asset or…
A: Given in the question: Naga has entered into the future contract in order to hedge the cash flow. It…
Q: The Haskins Company manufactures and sells radios. Each radio sells for $32.00 and the variable cost…
A: Contribution per unit is the value which is determined after deducting the variable cost from sale…
Q: Rasmussen Corporation expects to incur indirect overhead costs of $80,000 per month and direct…
A: Manufacturing expenses are simply an expenditure study that estimates how each department in your…
Q: G. Shown below are account balances found in the ledger of Honesty Corporation at the end of year…
A: Disclaimer: Since you have posted a question with multiple sub-parts, we will solve the first three…
Q: Weighted Average Method, Unit Cost, Valuing Inventories Applegate Enterprises produces premier…
A: The equivalent units are calculated on the basis of percentage of the work completed during the…
Q: Crane Company produces golf discs which it normally sells to retailers for $7 each. The cost of…
A: Incremental analysis is considered as one of the comparative decision-making approach. Business…
Q: One of our client companies, EA Community Laundry Chain, asked us for a consultation on their…
A: Net Income- The balance left over after subtracting the cost of products sold and expenses from a…
Q: Prepare the closing entries and post-closing trial balance of MIRAI GENERAL SERVICES as of December…
A: The post-closing trial balance is the trial balance prepared after closing all the temporary…
Q: Why would a company hire internal auditors if they already have an external auditor?
A: Internal audit is basically the internal department of the organisation which performs checks to…
Q: Omicron plc prepares financial statements to 31 December each year. On 1 January 2021, Omicron plc…
A: Here discuss about the details of the contract which are made by the company to sell the product…
Q: In 2020, Susan (who files as single) had silverware worth $10,000 (basis $6,000) stolen from her…
A: Deductions on account of casualty losses such as theft are deductible if caused by federally…
Q: On January 1, 2011, Folk Company changed from the average cost method to the FIFO method to account…
A: To calculate the net income to be reported in 2011 after change of inventory valuation method from…
Q: Lake acquired a controlling interest in Boxwood several years ago. During the current fiscal period,…
A: Income tax payable is the amount which is to be paid to the government after applying the tax rate…
Q: Martin has a controlling interest in Rowen's outstanding stock. At the current year-end, the…
A: d&e. Rowen Tax (380,000 x 21%) $79,800 Martin Tax Tax on operating income…
Q: The fixed costs for the current year are Rs. 100,000. The estimated sales for the period are valued…
A: Note: Hi! Thank you for the question, As per the honor code, we are allowed to answer three…
Q: How much is the total equity of the partnership immediately after the admission of C?
A: Admission of a partner into the partnership means that a new partner is entered into the business…
Step by step
Solved in 2 steps
- On September 1, 2014, a university received a grant of $100,000 from Tajinder. The money is invested at 8% compounded quarterly. The grant is to be used to pay out semi-annual scholarships for 20 years. What is the size of each scholarship if the first one is awarded on September 1, 2016? Need well explained answer, please do not use excel.Norte De University, a proprietary educational institution, has the following selected information for the taxable year 2X18: Tuition Fees P 12,800,000 Miscellaneous Fees 1,800,000 Interest on Bank Deposits 12,300 Rent Income 350,000 Salaries and Bonuses, all personnel 7,500,000 Other Operating Expenses 3,500,000 Quarterly Income Tax Payments 48,000 An additional school building was built and finished on April 1, 2X18 at the cost of P2,000,000 with a depreciable life of 50 years. Compute the income tax payable assuming the university opted to claim the cost of construction as an outright Compute the income tax payable assuming the university opted to capitalize the cost of building construction.A company wants to set up a new office in an area with a corporate tax rate as follows: 15% of the first $50,000 25% of the next $25,000 34% of the next $25,000 39% for anything over It is estimated that they will have gross revenues of $500,000, total costs of $300,000, $30,000 in allowable deductions, and a one-time start up credit of $8,000. What is the taxable income for the first year, and how much should the company expect to pay in taxes?
- A foundation supports an annual campus seminar by using the earnings of a $50,000 gift. It is felt that 10% interest will be realized for 10 years but that plans should be made to anticipate an interest rate of 6% after that time. What uniform annual payment may be established from the beginning, to fund the seminar at the same level into infinity?The University is given a gift of $500000 for the construction of a School of Management building. The University invests the gift into an account for future use. The University receives 8.00% on the money for 7 years then the rate drops to 6.40%. If the building is constructed 23 years after the gift was received, how much is in the fund at that time? S Do not use dollar signs or commas in your answer. Include two decimals. in your answer.December 31, 2020, the following transactions occurred.(INVOLVED COMPANY)1) A business donated rent-free office space to the organization that would normally rent for 35,000 a year2) A fund drive raised 185,000 in cash and 100,000 in pledges that will be paid within one year. A state government grant of 150,000 was received for program operating cost related to public health education.3) Salaries and fringe benefits paid during the year amounted to 208,560. At year-end an additional 16,000 of salaries and fringe benefits were accrued.4) A donor pledged 100,000 for construction of a new building payable over five fiscal years, commencing in 2022. The discounted value of the pledge is expected to be 94,260.5) Office equipment purchased for 12,000. The useful life of the equipment is estimated to be five years. Office furniture with a fair value of 9,600 was donated by a local office supply company. The furniture has an estimated useful life of 10 years. Furniture and equipment are…
- December 31, 2020, the following transactions occurred.(INVOLVED COMPANY)1) A business donated rent-free office space to the organization that would normally rent for 35,000 a year2) A fund drive raised 185,000 in cash and 100,000 in pledges that will be paid within one year. A state government grant of 150,000 was received for program operating cost related to public health education.3) Salaries and fringe benefits paid during the year amounted to 208,560. At year-end an additional 16,000 of salaries and fringe benefits were accrued.4) A donor pledged 100,000 for construction of a new building payable over five fiscal years, commencing in 2022. The discounted value of the pledge is expected to be 94,260.5) Office equipment purchased for 12,000. The useful life of the equipment is estimated to be five years. Office furniture with a fair value of 9,600 was donated by a local office supply company. The furniture has an estimated useful life of 10 years. Furniture and equipment are…December 31, 2020, the following transactions occurred.(INVOLVED COMPANY)1) A business donated rent-free office space to the organization that would normally rent for 35,000 a year2) A fund drive raised 185,000 in cash and 100,000 in pledges that will be paid within one year. A state government grant of 150,000 was received for program operating cost related to public health education.3) Salaries and fringe benefits paid during the year amounted to 208,560. At year-end an additional 16,000 of salaries and fringe benefits were accrued.4) A donor pledged 100,000 for construction of a new building payable over five fiscal years, commencing in 2022. The discounted value of the pledge is expected to be 94,260.5) Office equipment purchased for 12,000. The useful life of the equipment is estimated to be five years. Office furniture with a fair value of 9,600 was donated by a local office supply company. The furniture has an estimated useful life of 10 years. Furniture and equipment are…December 31, 2020, the following transactions occurred.(INVOLVED COMPANY)1) A business donated rent-free office space to the organization that would normally rent for 35,000 a year2) A fund drive raised 185,000 in cash and 100,000 in pledges that will be paid within one year. A state government grant of 150,000 was received for program operating cost related to public health education.3) Salaries and fringe benefits paid during the year amounted to 208,560. At year-end an additional 16,000 of salaries and fringe benefits were accrued.4) A donor pledged 100,000 for construction of a new building payable over five fiscal years, commencing in 2022. The discounted value of the pledge is expected to be 94,260.5) Office equipment purchased for 12,000. The useful life of the equipment is estimated to be five years. Office furniture with a fair value of 9,600 was donated by a local office supply company. The furniture has an estimated useful life of 10 years. Furniture and equipment are…
- broadband service company borrowed $ 2 mil lion for new equipment and repaid the loan in amounts of $ 200,000 in years 1 and 2 plus a lump sum amount of $ 2.2 million at the end of year 3 . What was the interest rate on the loan ? 6.17 A permanent endowment at the University of Alabama is to award scholarships to engineering students two times per year ( end of June and end of December ) . The first awards are to be made beginning 5-1 / 2 years after the $ 20 million lump sum donation is made . If the interest from the endowment is to fund 100 students each semester ( i.e. , twice a year ) in the amount of $ 5000 each semester , what semiannual rate of return must the endowment fund earn ? Identify three possible difficulties with rate of return analyses compared to PW , AW , or FW analyses .A school district’s property tax rate rises from 2.5% to 2.7% to cover a 300,000 budget deficit. What is the value of the property in the school district to the nearest dollar?The firm invests $1,000 today, and realizes after tax cashflows in the amounts of $110, $660, and $880 at the ends of years 1-3, respectively. WACC=10%. Find NPV.