You are presented with a Trial Balance of Mr. Hugo as on June 30, 1998, showing the credit in excess by $. 415 which has been carried to Suspense Account. On a close scrutiny of the books, the following errors are revealed: (a) A cheque of $. 3,456 received from David, after allowing him a discount of $. 46, was endorsed to joseph in full settlement for $. 3,500. The cheque was finally dishonoured but no entries were passed in the books. (b) Goods of the value of $. 230 returned by Ezra were entered in the Purchases Day Book and posted therefrom to silas as $. 320. (c) Bad Debts aggregating $. 505 were written off during the year in the Sales Ledger but were not recorded in the General Ledger. (d) Bill for $. 750 received from Rowan for repair done to machinery was entered in the Inward Invoice Book as $. 650. (e) Goods worth $. 1,234 purchased from Silas on June 28, 1998, has been entered in the Purchases Day Book and credited to him but were not delivered till July 5, 1998, stock being taken by the purchaser on June 30, 1998. The title of the goods was, however, passed on June 28, 1998. (f) $. 79 paid for freight on Machinery was debited to Freight Account as $. 97. You are required to pass the necessary Journal Entries for correcting the above.

The collecting bank advises the remitting bank on the non-payment of the instrument when the collection letter indicates FATE: non-acceptance and PROTEST: do not protest. Option C.

When a collection letter is prepared and it indicates FATE (non-acceptance) and PROTEST (do not protest), it means that the collecting bank is involved in the process and it is advising the presenting bank or remitting bank about the non-payment of the instrument.

In this case, the collecting bank is informing the remitting bank that the payment for the instrument has not been made.

The term FATE (non-acceptance) refers to the situation where the drawee (the party on whom the instrument is drawn) refuses to accept the instrument, typically a bill of exchange or a promissory note. This indicates that the drawee does not agree to the terms and conditions of the instrument and is unwilling to honor the payment.

The term PROTEST (do not protest) indicates that the collecting bank has decided not to initiate a formal protest against the non-acceptance of the instrument. A protest is a formal legal action taken to document the refusal to accept or pay an instrument and is typically initiated by a notary public.

Therefore, when the collecting bank advises on non-payment and does not initiate a protest, it means that the bank is notifying the remitting bank about the non-payment situation but has chosen not to take formal legal action through a protest. Option C is correct.

For more such question on payment. visit :

https://brainly.com/question/15409535

#SPJ8

The correct reporting on Goodwill Employment's financial statement for the year would be $500,000 donation revenue. The correct answer is d.

On its annual financial statements, Goodwill Employment should note a donation revenue of $500,000 in the income category. This sum represents the unrestricted donations that the organization received over the course of the year. These donations are counted as revenue because the organization is free to use them however it sees fit to support its operations.

The $100,000 in pledges of which it is anticipated that 70% ($70,000) will be collected, cannot be counted as revenue until it has been received. As a result, when the pledges are received in the future, the $70,000 from them should be recorded as revenue. The correct answer is d.

Learn more about income at:

brainly.com/question/2386757

#SPJ4

The demand curve will start at the point (1000, 1000) and end at the point (6000, 6000), forming a straight line. The supply curve will be a horizontal line at the level of 10,000 units.

To plot a demand and supply curve for two-bedroom apartments, we need both the demand and supply information. The table you provided only shows the demand side, so I'll assume that the supply of two-bedroom apartments is perfectly elastic at a quantity of 10,000 units.

Rent (Price)   Quantity Demanded   Quantity Supplied

$1000                      1000                            10,000

$900                        2000                            10,000

$800                        3000                            10,000

$700                        4000                            10,000

$600                        5000                            10,000

$500                        6000                            10,000

To plot the demand and supply curves, we can use a graph with the quantity (Q) on the horizontal axis and the rent (P) on the vertical axis. The demand curve will slope downwards from left to right, representing the negative relationship between rent and quantity demanded. The supply curve will be a horizontal line at the quantity of 10,000 units, indicating that the supply is fixed at that level regardless of the rent.

The demand curve will start at the point (1000, 1000) and end at the point (6000, 6000), forming a straight line. The supply curve will be a horizontal line at the level of 10,000 units. Both curves can be plotted on the graph, and the point at which the demand and supply curves intersect will represent the equilibrium rent and quantity of two-bedroom apartments.

To know more about demand curve, refer to the link below:

https://brainly.com/question/29698190#

#SPJ11

The Water for African Cities' Programme is a comprehensive initiative that recognizes the pressing need to address the challenges related to water and sanitation in urban areas across Africa. One of the key focuses of the program is to improve sanitation conditions among the urban poor, who often lack access to proper sanitation facilities and services. By doing so, the program aims to enhance the overall living conditions and health outcomes of these marginalized communities.

In addition to addressing sanitation issues, the program also emphasizes the importance of enhancing the technical and managerial capacity of local utilities. This is crucial because effective water and sanitation management require not only adequate infrastructure but also skilled personnel and efficient systems. By investing in capacity building, the program aims to empower local utilities to efficiently absorb and manage the resources and responsibilities associated with providing water and sanitation services to urban areas.

Improving technical capacity involves equipping utility staff with the necessary skills and knowledge to design, operate, and maintain water and sanitation infrastructure effectively. This includes training in areas such as engineering, water treatment, wastewater management, and quality control. By building the technical capacity of local utilities, the program aims to ensure that the infrastructure is well-maintained, efficient, and sustainable in the long run.

Furthermore, enhancing managerial capacity involves strengthening the skills of utility managers and staff in areas such as financial management, planning, and governance. Effective management is essential for optimizing resource allocation, promoting accountability, and ensuring that the water and sanitation services are provided in a transparent and sustainable manner. By supporting the development of managerial capacity, the program aims to improve the overall performance and governance of local utilities, leading to better service delivery and customer satisfaction.

In summary, the Water for African Cities' Programme recognizes the interconnected nature of water, sanitation, and capacity building in urban areas. By focusing on improving sanitation among the urban poor and enhancing the technical and managerial capacity of local utilities, the program aims to create sustainable and inclusive water and sanitation systems that contribute to the overall well-being and development of African cities.

for more questions on Africa

https://brainly.com/question/158070

#SPJ11

Much of the re-imaging of future work and workspaces is based on the use of flexible working practices. Critically discuss the tensions that flexible work can create for workers and businesses.

Flexible working is the ability to work when and where employees choose, without restriction. Workspaces are reimagined in accordance with such flexible working practices.

As a result, businesses may find it hard to meet deadlines. Additionally, employees may miss out on team collaboration opportunities and, as a result, become isolated.

Individualism can be isolating: Flexibility can be isolating, and not everyone is cut out for it. It can lead to a lack of sociability in the workplace, as well as difficulties in establishing a sense of community.

People who work remotely or from home have a higher chance of being lonely than those who work in an office.

Work-life balance: Flexible working hours may result in a lack of boundaries between work and personal life. Many people who work from home may experience burnout, particularly when they work longer hours without taking enough breaks.

The fact that employees can work from anywhere means they might be expected to work even when on vacation, adding to their stress.

Final thoughts: It is important to recognize that flexible working may cause stress and anxiety in both employers and employees. Employers should consider implementing additional policies and providing appropriate tools and technology to assist employees in meeting their work deadlines and remaining productive.

In addition, workers should establish personal boundaries and routines, even when working from home, in order to maintain a healthy work-life balance.

To learn more about Flexible working, visit here

https://brainly.com/question/32770773

#SPJ11

To calculate the payback period and net present value (NPV) of the two projects, Project AA and Project BB, the following steps will be used.

Step 1: Determine the Payback Period We can determine the payback period by summing the cash inflows of each project until they equal the initial cost of the projects. The project with the shortest payback period is generally considered the better investment. Project AA Year Cash Inflows ($)Cumulative Cash Inflows ($)11,0001,00029,00034,000The cumulative cash inflows in the second year were $1,000 + $10,000 = $11,000. This amount, when added to the first year's cumulative cash inflow, which is $1,000, equals $12,000. We'll continue doing this till the cumulative cash inflows are equal to the initial cost of the project, which is $38,000. We calculate the same for each year below: Year 3: $12,000 + $16,000 = $28,000Year 4: $28,000 + $18,000 = $46,000Since the cumulative cash inflows of $46,000 at year 4 are greater than the initial cost of $38,000, the payback period for Project AA is less than 4 years. To calculate the exact payback period, we use the following formula: Payback period = A + (B / C)A = Last year with a negative cash flow B = Absolute value of cash flow at the end of that year C = Total cash flow during the year in question

Step 2: Calculate the Net Present Value (NPV)We can determine the net present value (NPV) of each project by discounting the cash inflows at the required yearly rate of return (R) and then subtracting the initial cost of the projects from the present value of the cash inflows. Project AA Discount factor = 1 / (1 + R)^n, where n = number of years Year Cash Inflows ($)Discount Factor (8%)Present Value ($)1 6,0000.9266,958.142 10,0000.8579,115.643 16,0000.79313,092.684 18,0000.73513,231.30Net Present Value (NPV) of Project AA = $6,397.76 - $38,000Net Present Value (NPV) of Project AA = -$31,602.24Project BBD is count factor = 1 / (1 + R)^n, where n = number of years Year Cash Inflows ($)Discount Factor (8%)Present Value ($)1 18,0000.92616,684.802 16,0000.85713,712.643 10,0000.7937,930.694 6,0000.7354,410.00Net Present Value (NPV) of Project BB = $42,737.14 - $38,000Net Present Value (NPV) of Project BB = $4,737.14Therefore, Project BB is preferred over Project AA based on the net present value (NPV) of each project.

To know more about present value refer to :

https://brainly.com/question/15904086

#SPJ11

The document that initiates shipment of goods and indicates the description of the merchandise, the quantity shipped, and customer name and address is known as a bill of lading.

A bill of lading is a legal document that serves as proof of shipment of goods from a carrier to a shipper. The term is derived from the word "lade," which means "to load." A bill of lading typically includes information such as the type and quantity of goods, the name of the shipper, the name of the carrier, the destination, and the delivery instructions.A bill of lading is not only a receipt for the goods being shipped, but it also serves as a contract between the shipper and the carrier. The document outlines the carrier's obligation to deliver the goods to their destination in the same condition they were in when they were loaded onto the carrier's transport vehicle.

In addition, the document indicates the customer name and address, the quantity shipped, and the description of the merchandise.

Learn more about bill of lading visit:

brainly.com/question/28231278

#SPJ11

When an Obligor to a contract is not given notice of the new oblige, the assignor might assign the same rights to multiple people.

As a result, the Obligor is unable to identify which party he should pay. The main issue that arises when this occurs is confusion among the parties. The Obligor may refuse to pay the assigned rights, believing that they have already been paid, or may pay one party but then be forced to pay the same amount to another party, causing financial loss for the Obligor.

In addition, assigning the same rights to multiple people creates uncertainty regarding who has the right to perform the obligations under the contract, which may cause further disputes between the parties. In short, lack of notice to the Obligor regarding the new oblige may result in multiple claims of the same rights, financial loss, and disputes between the parties.

To know more about Obligor visit:

https://brainly.com/question/31925558

#SPJ11

The nominal cost of credit can be calculated using the following formula: = discount rate / (1 - discount rate) * (365 / (full payment days - discount payment days) Thus, option c is accurate.

How to determine the trade credit cost

1. Establish the discount percentage.

2. Subtract 100 from the discount rate.

3.Subtract the difference from the discount.

4. Subtract the payment days from the discount days.

5.Subtract the difference from 360.

6. Add together these results.

There are two methods for figuring out the trade credit costs. Nominal rate: It is determined by taking industry interests and inflation rates into account. Effective rate: It is computed by dividing the discount percentage by one less than the discount percentage, then multiplying the result by 360 divided by the number of discount-reduced days.

To learn more about trade credit , click here.

https://brainly.com/question/28178211

#SPJ4

TORO's return on assets (ROA) Inc at year-end 2021 with a net income $2 million, total debt $12 million, and debt-to-equity 0.60 times, for 2021 is 6.25%.

To calculate TORO's return on assets (ROA), we need to estimate its total equity and total assets.

The debt-to-equity ratio is calculated as total debt divided by total equity:

Debt-to-equity ratio = Total debt / Total equity

0.60 = $12 million / Total equity

Solving for Total equity:

Total equity = $12 million / 0.60

Total equity = $20 million

Now, to estimate total assets, we can use the equation:

Total assets = Total equity + Total debt

Total assets = $20 million + $12 million

Total assets = $32 million

Finally, we can calculate ROA using the formula:

ROA = Net income / Total assets

ROA = $2 million / $32 million

ROA = 0.0625 or 6.25%

Therefore, TORO's ROA for 2021 is 6.25%.

Learn more about equity at https://brainly.com/question/1957305

#SPJ4

The operating ratio for your trucking firm is 80%. The operating ratio is the proportion of a company's operating expenses to its net sales. It can be used to evaluate a company's performance and efficiency.

We must divide operating expenses by operational revenue and then convert the result to a percentage to determine the operating ratio for your trucking company.

operating income of $20M

operating costs: $16 million

Operating Ratio is defined as (Operating Expenses / Operating Revenue) * 100

Operating Ratio is defined as (16 / 20) * 100 Operating Ratio is defined as 0.8 * 100 Operating Ratio is defined as 80%

As a result, your trucking company's operating ratio is 80%. The operating ratio is a metric for operational effectiveness that shows how much operating costs are in relation to operating revenue.

The operational ratio in this instance is 80%, which means that $0.80 of every dollar of income is used to pay operating expenses.

For more such questions on operating ratio

https://brainly.com/question/24077007

#SPJ8

So, the interest expense per semiannual period on the bond sold at 97 is $7,760 and on the bond sold at 105 is $8,400.

Bond issue date = January 1, 2017.Par value = $200,000.

Coupon rate = 8%

(The bonds pay interest semiannually on June 30 and December 31.)The bonds are sold to Brown Corporation and are issued at different prices, so the amount of interest paid on the bond changes accordingly.

We will first calculate the amount of interest on the bond sold at 97 and then on the bond sold at 105.Bond issued at 97:Total proceeds = Par value × Issue price = $200,000 × 0.97 = $194,000.

Interest payable annually = Coupon rate × Par value = 8% × $200,000 = $16,000.

Interest payable semiannually = $16,000 ÷ 2 = $8,000.Interest expense per semiannual period = $194,000 × 8% ÷ 2 = $7,760.

Bond issued at 105:

Total proceeds = Par value × Issue price = $200,000 × 1.05 = $210,000.

Interest payable annually = Coupon rate × Par value = 8% × $200,000 = $16,000.

Interest payable semiannually = $16,000 ÷ 2 = $8,000.

Interest expense per semiannual period = $210,000 × 8% ÷ 2 = $8,400.

To know more about bond issue refer here : brainly.com/question/30645421

#SPJ11

Labor Supply Curve (LS): The labor supply curve represents the relationship between the quantity of labor supplied by individuals and the real wage rate. It slopes upward, indicating that as the real wage rate increases, individuals are more willing and able to supply labor.

Labor Demand Curve (LD): The labor demand curve represents the relationship between the quantity of labor demanded by firms and the real wage rate. It slopes downward, indicating that as the real wage rate increases, firms are less willing and able to hire additional workers.

Equilibrium Point (e1): The equilibrium quantity of labor and the equilibrium real wage rate occur at the intersection of the labor supply curve (LS) and the labor demand curve (LD). This point represents the market equilibrium, where the quantity of labor demanded by firms matches the quantity of labor supplied by individuals.

Effect of an Increase in Labor Productivity: An increase in labor productivity shifts the labor demand curve (LD) to the right. This shift occurs because firms can produce more output with the same amount of labor input. As a result, the equilibrium quantity of labor increases, and the equilibrium real wage rate increases as well.

New Equilibrium Point (2): The new equilibrium quantity of labor and the equilibrium real wage rate occur at the intersection of the shifted labor demand curve (LD) and the labor supply curve (LS). This point represents the new market equilibrium after the increase in labor productivity.

Increase in Potential GDP: An increase in labor productivity leads to an increase in potential GDP. This occurs because firms can produce more output with the same amount of labor input. As a result, the economy's productive capacity expands, and potential GDP increases.

I hope this description helps you visualize the labor market dynamics and understand the effects of an increase in labor productivity.

In mainstream economic theory, the labor of supply is the number of hours workers are willing to work at a given real wage level.

Learn More About Labor Supply at https://brainly.com/question/29450818

#SPJ11

The journal entry on July 1, 2022, records the receipt of cash for the 2-year insurance contract, while the adjusting entry on December 31, 2022, recognizes the portion of the contract that has been earned and adjusts the revenue accordingly.

On July 1, 2022, the journal entry for Cullumber Company would be as follows:

Date: July 1, 2022

Account                             Debit ($) Credit ($)

Cash                             22,000

Unearned Service Revenue           22,000

This journal entry records the receipt of $22,000 in cash from Sandhill Co. for the 2-year insurance contract. The amount received is considered unearned revenue at this point because the services (insurance coverage) have not yet been provided.

On December 31, 2022 (adjusting entry), the journal entry for Cullumber Company would be as follows:

Date: December 31, 2022

Account                               Debit ($)           Credit ($)

Unearned Service Revenue 2,750

Service Revenue                                      2,750

This adjusting entry reflects the portion of the insurance contract that has been earned during the fiscal year ending December 31, 2022. The $2,750 represents the earned portion of the contract based on the passage of time (6 months out of the 24-month contract). The entry reduces the unearned service revenue account and recognizes the corresponding amount as service revenue.

In conclusion, the journal entry on July 1, 2022, records the receipt of cash for the 2-year insurance contract, while the adjusting entry on December 31, 2022, recognizes the portion of the contract that has been earned and adjusts the revenue accordingly.

Learn more about journal entry here:

brainly.com/question/28390337

#SPJ11

The manager is open to the gender aspect of a diverse workforce. A diverse workforce includes individuals from various backgrounds, including ethnicity, sexual orientation, age, and gender.(A,B,C,D)

In this case, the manager is concerned with the underrepresentation of women in the organization and is willing to take steps to increase their number. This demonstrates a commitment to gender diversity in the workforce.

Gender diversity is important in any organization as it ensures equal representation of men and women, and the organization can benefit from the different perspectives, skills, and experiences that women can bring to the workplace.

The manager's observation about the workforce's gender distribution indicates that the organization lacks gender diversity. The organization's workforce comprises more men than women.

To address this, the manager intends to increase the number of women hired, indicating a commitment to gender diversity. A diverse workforce is beneficial to an organization in many ways. (A,B,C,D)

It provides different perspectives and ideas, improves productivity and morale, and fosters innovation and creativity. By prioritizing gender diversity, the manager is creating an inclusive work environment that values all employees equally.

To know more about gender diversity click on below link:

https://brainly.com/question/19953310#

#SPJ11

The concept of natural rights and social contract pertains to the basic human rights that every individual possesses and the agreement that individuals make to establish a society governed by laws that protect these rights.

Natural rights are inherent and inalienable, such as the right to life, liberty, and property, and exist independent of society. Social contract, on the other hand, is the agreement that individuals make to establish a society and surrender some of their natural rights to a government in exchange for the protection of their remaining rights.

In today's society, natural rights and social contract exist to some extent, but not all individuals are treated equally, and some individuals' natural rights are violated. Although the Constitution and the Bill of Rights were created to protect the life, liberty, and property of all Americans, not all individuals are guaranteed these rights due to systemic inequalities and discrimination. It is necessary to work towards creating a society where all individuals are treated equally and their natural rights are protected.

In response to my classmates, I agree with their points regarding the importance of natural rights and social contract in today's society. I also agree that the Constitution and the Bill of Rights are crucial in protecting the life, liberty, and property of all Americans. However, I believe that there is still a long way to go in terms of ensuring that all individuals are guaranteed these rights, and we must work towards creating a more just and equal society.

Know more about the Natural rights click here:

https://brainly.com/question/20887193

#SPJ11

A legal document that summarizes the rights and privileges of bondholders as well as the obligations and commitments of the issuing company is called a bond indenture.

A bond indenture is a legal document that outlines the terms of a bond issue. The document includes important information such as the bond's maturity date, interest rate, and repayment terms. It also outlines the rights of the bondholders and the obligations of the issuer. The bond indenture serves as a contract between the issuer and the bondholders, and it is a legally binding agreement.

The document is created by the issuer of the bonds and is reviewed by legal counsel to ensure that it meets all legal requirements. Once the bond indenture is approved, it is made available to potential investors. The document helps investors make informed decisions about whether to invest in the bond issue. Bond indentures are an important part of the bond market, and they help ensure that bond issuers meet their obligations to bondholders.

To know more about indenture visit:

https://brainly.com/question/30657542

#SPJ11

The correct option for the question "Level Grade Engineering, Inc., sometimes uses explosives to prepare land for construction projects. The correct option is C.

Strict liability is imposed on this activity because" is C) the activity is of a dangerous nature.  Level Grade Engineering, Inc., sometimes uses explosives to prepare land for construction projects. Strict liability is imposed on this activity because the activity is of a dangerous nature.

Strict liability refers to the responsibility or accountability imposed upon a person or entity irrespective of their negligence or intention when such liability arises out of their actions or omissions.

There are specific conditions that must be met before strict liability can be imposed on any activity. One of such conditions is that the activity must be of a dangerous nature. This condition is fulfilled in this scenario as the company uses explosives to prepare land for construction projects, which is, by all means, a dangerous activity. Therefore, the imposition of strict liability on this activity is justified.

To know more about Strict liability visit:

https://brainly.com/question/30638370

#SPJ11

The amount in the account 26.00 years from today will be $58,345.16.

The present value of annuity is $5,264.00, with a term of 5, an interest rate of 5.00%, and a payment frequency of two. The future value of annuity is $8,497.79, with a term of 5, an interest rate of 5.00%, and a payment frequency of two.

Therefore, we can use the formula to calculate the future value of the annuity:

FV of annuity = Annuity (1+i)^n-1/i, where Annuity = $5,264.00, i = 5.00%, n = 5/2 = 2.5 (because there are five annuity payments but they are made every other year, thus they are spread over ten years, so n = 5/2 = 2.5)

FV of annuity = $5,264.00 (1+0.05)^2.5-1/0.05FV of annuity = $25,854.18

We will use the future value of the annuity to calculate the future value of the deposit.

FV of deposit = $13056.00 (1+0.05)^24FV of deposit = $32,490.98

Now, we can use the future value of annuity and deposit to calculate the future value of the account, which is:

FV of account = FV of deposit + FV of annuity

FV of account = $32,490.98 + $25,854.18

FV of account = $58,345.16

Learn more about annuity at:

https://brainly.com/question/30905110

#SPJ11

To find the 80th percentile, you would need a dataset or grouped data. Once you have the data, follow these steps:

1. Arrange the data in ascending order.

2. Calculate the cumulative relative frequency for each data point. The cumulative relative frequency represents the proportion of data points that are less than or equal to a given value.

3. Create a cumulative relative frequency polygon by plotting the cumulative relative frequencies against the corresponding data points. This polygon shows the cumulative distribution of the data.

4. Locate the 80th percentile on the plot, which corresponds to the value below which 80% of the data falls.

5. Compare the 80th percentile value with the rest of the data points to understand its position within the dataset.

Please note that without the actual data, I can only provide general guidance on how to calculate and interpret percentiles. If you have the dataset or grouped data, you can perform the calculations and create the cumulative relative frequency polygon to determine the 80th percentile and compare it with the rest of the data points.

In statistics, the k-th percentile, also known as the score percentile or percentile, is the score below a certain k percentage of the scores in its frequency distribution or the score at or below a certain percentage decrease.

Learn More About percentile at https://brainly.com/question/28839672

#SPJ11

The competitive price is $2, and the firm will produce 10 units.

Given demand curve, p=12−q and total cost, TC=2qMonopoly:Let the profit of a monopolist be,π = R(q) - C(q)So, R(q) = p * q = (12 - q)q = 12q - q²Therefore, π = 12q - q² - 2q = 10q - q²Monopolist’s MR = dR(q) / dq= 12 - 2qMonopolist’s MC = dC(q) / dq= 2For the profit maximization, a monopolist equates MR = MC12 - 2q = 22q = 5.5

Thus, the monopolist produces 5.5 units per period Competitive price is P = MC = $2 and demand is Q = 12 - 2 = 10 units Given: Competitive price is $2Hence, the answer is $2.

Learn more about the Monopoly:

brainly.com/question/7217942

#SPJ11

The cash flows from operating activities are:$154,000 for Power Corporation$118,750 for Surge Company.

a) Cash received from customers using the direct method of computing cash flows from operating activities:

The formula to calculate the cash received from customers using the direct method is:

Cash received from customers = Sales + decrease in accounts receivable+ increase in accounts payable.

Cash received from Power Corporation = $330,000 + (-$16,000) - $11,000 = $303,000

Cash received from Surge Company = $230,000 - (-$9,000) + $6,000 = $235,000

b) Cash payments to suppliers using the direct method of computing cash flows from operating activities:

The formula to calculate the cash payments to suppliers using the direct method is:

Cash payments to suppliers = cost of goods sold + increase in inventory - decrease in accounts payable.

Cash payments made by Power Corporation = $170,000 - $32,000 + $11,000 = $149,000

Cash payments made by Surge Company = $109,250 + $13,000 - $6,000 = $116,250

c) Cash flows from operating activities using the direct method:

To calculate the cash flows from operating activities, we need to subtract the cash payments to suppliers from the cash received from customers. Thus,

Cash flows from operating activities = cash received from customers - cash payments to suppliers

Cash flows from operating activities of Power Corporation = $303,000 - $149,000 = $154,000

Cash flows from operating activities of Surge Company = $235,000 - $116,250 = $118,750

For more about cash flows:

https://brainly.com/question/27994727

#SPJ11

Crane Industries should plan to maintain its cash balance equal to or greater than the sum of its monthly cash disbursements for each of the three months since the amount collected in each month will not be equal to the amount of credit sales, resulting in a shortfall that must be covered.

Crane Industries expects credit sales for January, February, and March to be $281.600, $332,800, and $384.000, respectively. It is expected that 75% of the sales will be collected in the month of sale.Crane Industries expects credit sales for January, February, and March to be $281.600, $332,800, and $384.000, respectively. It is expected that 75% of the sales will be collected in the month of sale.

This implies that for January, out of the total credit sales of $281,600, 75% of the amount would be collected in the same month which is

0.75 x $281,600 = $211,200 and the balance amount will be collected in the subsequent month.

Similarly, for February, out of the total credit sales of $332,800, 75% of the amount would be collected in the same month which is

0.75 x $332,800 = $249,600

and the balance amount will be collected in the subsequent month.

Finally, for March, out of the total credit sales of $384,000, 75% of the amount would be collected in the same month which is

0.75 x $384,000 = $288,000 and the

balance amount will be collected in the subsequent month.

Crane Industries must maintain a minimum cash balance to ensure that it can cover its expenses, debt obligations, and other cash outflows. A business requires a particular amount of cash balance to operate successfully, which is referred to as a minimum cash balance.

to know more about sales visit:

https://brainly.com/question/29436143

#SPJ11

Net income under cash basis will be $16,500, and Net income under accrual basis will be $21,700.

Net income under cash basis

Revenue: $45,000

Expenses: $28,500

Net income: $16,500

Net income under accrual basis

Revenue: $53,700

Expenses: $32,000

Net income: $21,700

The difference between the two net income figures is due to the fact that the accrual basis of accounting recognizes revenue and expenses when they are earned or incurred, regardless of when the cash is received or paid.

In this case, $8,700 of revenue was earned but not yet collected, and $3,500 of expenses were incurred but not yet paid.

Calculation of net income under accrual basis

Revenue: $53,700

Expenses: $32,000

Net income: $21,700

Explanation:

Revenue: $53,700

$45,000 cash collected from customers

$8,700 revenue earned but not yet collected

Expenses: $32,000

$28,500 cash paid for expenses

$3,500 expenses incurred but not yet paid

Net income: $21,700

$53,700 revenue - $32,000 expenses = $21,700 net income

To know more about Net income under cash basis, refer here:

https://brainly.com/question/7278018#

#SPJ11

(i) A renounceable rights offer means that existing shareholders of CJ Patel Ltd have the option to exercise their rights to purchase additional shares at a specified price or transfer/sell their rights to other investors. The offer is made to existing shareholders.

(ii) The price of the right is $0.30.

(iii) The theoretical ex-rights share price is $1.65.

a)(i) A renounceable rights issue offer means that existing shareholders have the option to either exercise their rights and purchase additional shares at a specified price or sell their rights to someone else. The offer is made to the existing shareholders of CJ Patel Ltd, giving them the opportunity to maintain their proportional ownership in the company by subscribing to additional shares.

(ii) To calculate the price of the right, we can determine the subscription price per right. In this case, the offer is a two-for-six pro-rata issue, which means for every six existing shares, shareholders are entitled to purchase two additional shares at the offer price.

Subscription price per right = Offer price per share / (Number of rights per share + 1)

Subscription price per right = $1.65 / (2 + 1)

Subscription price per right = $1.65 / 3

Subscription price per right ≈ $0.55

Therefore, the price of the right is approximately $0.55.

(iii) The theoretical ex-rights share price is the expected price of CJ Patel Ltd's shares after the rights issue has taken place. To calculate this, we subtract the subscription price per right from the current share price.

Theoretical ex-rights share price = Current share price - Subscription price per right

Theoretical ex-rights share price = $1.95 - $0.55

Theoretical ex-rights share price ≈ $1.40

Therefore, the theoretical ex-rights share price is approximately $1.40.

For more such questions on rights issue

https://brainly.com/question/29561785

#SPJ11

In an open economy with flexible exchange rates, a tax cut will lead to a decrease in interest rates and an increase in output. The correct answer to this question is option 4, more than one answer is correct.

In an open economy, the variables that can be affected by fiscal policies, such as a tax cut, include exports, imports, interest rates, and output. It is important to note that these variables are interrelated and changes in one can lead to changes in the others.

In this case, a tax cut would lead to an increase in disposable income for individuals and businesses, which would lead to an increase in consumption and investment spending.

This would lead to an increase in demand for goods and services, which would lead to an increase in output. At the same time, an increase in demand for goods and services would lead to an increase in imports, which would lead to a decrease in net exports.

An increase in demand for goods and services would also lead to an increase in demand for money, which would lead to an increase in interest rates. Therefore, a tax cut would lead to a decrease in net exports and an increase in output and interest rates.

So, option 4 is the correct answer.

Learn more about tax here,

https://brainly.com/question/30021670

#SPJ11

Based on the given information, the unadjusted trial balance of Jacob's Event Planning Service shows the following balances:

To prepare the adjusted trial balance, we need to consider any adjustments that need to be made to these accounts. However, no adjustments are provided in the given information. Therefore, the adjusted trial balance will be the same as the unadjusted trial balance:

Please note that without any additional adjustments, the balances remain the same in the adjusted trial balance.

Payment is the voluntary surrender of money or an equivalent or something of value by one party to another in return for goods or services provided by them or to fulfill a legal obligation.

Learn More About Payment at https://brainly.com/question/29475683

#SPJ11

A. Net income flowing to people: Not determinable without disposable personal income and personal tax payments data.

B. Disposable personal income: Not determinable without personal income and personal savings data.

C. Personal income: Not determinable from the given information.

D. Personal savings: Not determinable from the given data. Per-capita income * Population: Not calculable without the per-capita income and population estimate data.

A. The net income flowing to people can be obtained by subtracting the personal tax payments by people from the disposable personal income.

The net income flowing to people can be calculated by subtracting the personal tax payments by people from the disposable personal income. The disposable personal income is not explicitly provided in the given information, so we cannot determine the net income flowing to people without that data.

B. The disposable personal income can be calculated by subtracting the personal tax payments by people and the personal savings from the personal income.

To calculate the disposable personal income, we need to subtract the personal tax payments by people and the personal savings from the personal income. However, the personal income and personal savings are not provided in the given information, so we cannot determine the disposable personal income without that data.

C. The personal income is not explicitly mentioned in the provided information, so it cannot be determined from the given data.

D. The personal savings cannot be determined from the given data as it is not provided.

Per-Capita Income * Population: To calculate the per-capita income, we need to divide the net income flowing to people by the population estimate.

learn more about "income":- https://brainly.com/question/30157678

#SPJ11

The total cost accounted for equals the total cost incurred in production during the given period. Therefore, the total cost accounted for = Total cost transferred out + Total cost in ending WIP. Total cost accounted for = $476,446 + $49,734 = $526,180.

The number of units of the products processed in a given period is the equivalent units of production. It is a system that converts partially completed unit inventories into equivalent finished units. The conversion cost is the direct and indirect production costs that are incurred while changing raw materials into finished products.

the equivalent units of production for materials and conversion costs are determined as follows:Equivalent Units of Production = Transferred out Units + Ending WIP Units - Beginning WIP Units

For materials: Equivalent Units of Production = 29,480 + 2,680 - 0 = 32,160 units

For conversion costs: Equivalent Units of Production = 29,480 + 2,680 - 0 = 32,160 units

The Unit Costs of Production are determined as follows:Unit Cost = (Total Cost / Equivalent Units of Production)

For materials: Unit Cost = $265,320 / 32,160 units = $8.25 per unit

For conversion costs: Unit Cost = ($71,824 + $151,152) / 32,160 units = $6.56 per unit

The costs to be assigned to the units transferred out and in process for June are computed as follows:Transferred out = Units Transferred Out x Unit Costs. Transferred out = 29,480 x ($8.25 + $6.56) = $476,446

Work in process, June 30 = Units in Ending WIP x Unit Costs. Work in process, June 30 = 2,680 x ($8.25 + $6.56) = $49,734

The cost reconciliation schedule is as follows: Total cost accounted for = Total cost transferred out + Total cost in ending WIP. Total cost accounted for = $476,446 + $49,734 = $526,180. The total cost accounted for equals the total cost incurred in production during the given period. It is equal to the total cost incurred and is accounted for in the cost reconciliation schedule.

For more such questions on cost accounted, click on:

https://brainly.com/question/28044915

#SPJ11

The specific values for average total cost, marginal cost, and average variable cost at quantities of 25 and 35 cheeseburgers per hour. It also explains about Average total cost, Marginal cost, Average variable cost

1. Average total cost (ATC) is calculated by dividing the total cost of production by the quantity of output. It represents the average cost per unit of production.

2. Marginal cost (MC) is the additional cost incurred by producing one additional unit of output. It is calculated by dividing the change in total cost by the change in quantity.

3. Average variable cost (AVC) is calculated by dividing the total variable cost (costs that vary with the quantity of output) by the quantity of output. It represents the average variable cost per unit of production.

Without the specific data from the figure, I cannot provide the exact values for the given quantities. However, by analysing the average and marginal cost curves, one can determine the respective costs at those quantities.

Learn more about Average total cost here: brainly.com/question/28941573

#SPJ11