Homework Answers
a) Journal entry disposal of truck :
| Date | accounts & explanation | debit | credit |
| Cash | 15400 | ||
| Accumlated depreciation | 33600 | ||
| Delivery truck | 49000 | ||
| (To record disposal of truck) | |||
b) Journal entry disposal of truck :
| Date | accounts & explanation | debit | credit |
| Cash | 16000 | ||
| Accumlated depreciation | 33600 | ||
| Gain on disposal of delivery truck | 600 | ||
| Delivery truck | 49000 | ||
| (To record disposal of truck) | |||
c) Journal entry disposal of truck :
| Date | accounts & explanation | debit | credit |
| Cash | 12700 | ||
| Accumlated depreciation | 33600 | ||
| Loss on disposal of delivery truck | 2700 | ||
| Delivery truck | 49000 | ||
| (To record disposal of truck) | |||
The following transactions were completed by the company. a. The owner invested $15,400 cash in the...
The following transactions were completed by the company. a. The owner invested $15,400 cash in the company in exchange for its common stock. b. The company purchased supplies for $600 cash. c. The owner invested $10,200 of equipment in the company in exchange for more common stock. d. The company purchased $220 of additional supplies on credit. e. The company purchased land for $9,200 cash. Required: Enter the impact of each transaction on individual items of the accounting equation. (Enter...
On June 30, B&B Inc. a food catering service in Plano had billable revenue of $15,400...
On June 30, B&B Inc. a food catering service in Plano had billable revenue of $15,400 for the month of June, cost of goods sold of $14,200. B&B also collected $11,800 of cash for walk in sales for the month and had Administrative Expenses of $400. Under point-of-sale revenue recognition, how much gross profit will B&B recognize during the year? A. $15,400 B. $12,600 C. $11,800 D. $13,000
CASH FLOW DIAGRAMS (10 points each) 1. A company made an investment of $16,000 in a...
CASH FLOW DIAGRAMS (10 points each) 1. A company made an investment of $16,000 in a machine to manufacture a new product. The sale of the product is expected to provide uniform annual revenue of $8,000 for 6 years. Annual operating and maintenance expenses are $2,000. The salvage value of the machine at the end of years is $7,000. Draw the Cash flow diagram, and net cash flow diagram.
The following transactions were completed by the company. a. The owner invested $15,400 cash in the...
The following transactions were completed by the company. a. The owner invested $15,400 cash in the company in exchange for its common stock. b. The company purchased supplies for $600 cash. c. The owner invested $10,200 of equipment in the company in exchange for more common stock. d. The company purchased $220 of additional supplies on credit. e. The company purchased land for $9,200 cash. Required: Enter the impact of each transaction on individual items of the accounting equation. (Enter...
Question 14 1 pts Project ELI's only cash outflow is its cost of $16,000. The project...
Question 14 1 pts Project ELI's only cash outflow is its cost of $16,000. The project has a net present value NPV of $20,000. Its profitability index [PVcash inflows) / PV cash outflows)] is O 1.25 O 0.80 2.00 2.25 None of the above Question 15
The following information reflects Walczak Company's job order production activities for May. $16,000 15,400 Raw Material...
The following information reflects Walczak Company's job order production activities for May. $16,000 15,400 Raw Material Purchases Factory Payroll Cost Overhead Costs incurred: Indirect Materials Indirect Labor Other Factory OH 5,000 3,500 9,500 Walczak's predetermined OH rate is 150% of DL cost. Costs are allocated to the three jobs worked on during May as follows: Job 401 Job 402 Job 403 WIP inventory, April 30 DM DL Applied Overhead $3,600 1,700 2,550 DM DL Applied Overhead STATUS ON MAY 31...
A project has the following cash flows: Year Cash Flow 65,500 165,500 0 1 39,000 -33,600...
A project has the following cash flows: Year Cash Flow 65,500 165,500 0 1 39,000 -33,600 a. What is the IRR for this project? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.a.. 32.16.) b. What is the NPV of this project if the required return is 5 percent? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to 2 decimal...
106) Consider the following two mutually exclusive projects: 14 Year Cash Flow (A) - 54,000 12,700...
106) Consider the following two mutually exclusive projects: 14 Year Cash Flow (A) - 54,000 12,700 23,200 27,600 46,500 Cash Flow (B) -$ 23,000 11,600 11,200 12,500 6,000 0 1 2 3 4 Whichever project you choose, if any, you require a rate of return of 14 percent on your investment. If you apply the payback criterion, you will choose Project IRR criterion, you will choose Project Based on your first four answers, which project will you finally choose? А)...
Builtrite has calculated the average cash flow to be $16,000 with a standard deviation of $4000....
Builtrite has calculated the average cash flow to be $16,000 with a standard deviation of $4000. What cash flow would represent the top 3%? (Assume a normal distribution.) Group of answer choices A.$8,480 B.$14,850 C.$23,520 D.$27,450
Find the equivalent resistance between points A and B in the drawing 2.00 Ω 6.00 Ω...
Find the equivalent resistance between points A and B in the
drawing
2.00 Ω 6.00 Ω 1.00 Ω wongan 4.00 Ω 3.00Ω 2.00 Ω B 3.00 Ω
The following transactions were completed by the company. a. The owner invested $15,400 cash in the company in exchange for its common stock. b. The company purchased supplies for $600 cash. c. The owner invested $10,200 of equipment in the company in exchange for more common stock. d. The company purchased $220 of additional supplies on credit. e. The company purchased land for $9,200 cash. Required: Enter the impact of each transaction on individual items of the accounting equation. (Enter...
CASH FLOW DIAGRAMS (10 points each) 1. A company made an investment of $16,000 in a machine to manufacture a new product. The sale of the product is expected to provide uniform annual revenue of $8,000 for 6 years. Annual operating and maintenance expenses are $2,000. The salvage value of the machine at the end of years is $7,000. Draw the Cash flow diagram, and net cash flow diagram.
The following transactions were completed by the company. a. The owner invested $15,400 cash in the company in exchange for its common stock. b. The company purchased supplies for $600 cash. c. The owner invested $10,200 of equipment in the company in exchange for more common stock. d. The company purchased $220 of additional supplies on credit. e. The company purchased land for $9,200 cash. Required: Enter the impact of each transaction on individual items of the accounting equation. (Enter...
Question 14 1 pts Project ELI's only cash outflow is its cost of $16,000. The project has a net present value NPV of $20,000. Its profitability index [PVcash inflows) / PV cash outflows)] is O 1.25 O 0.80 2.00 2.25 None of the above Question 15
The following information reflects Walczak Company's job order production activities for May. $16,000 15,400 Raw Material Purchases Factory Payroll Cost Overhead Costs incurred: Indirect Materials Indirect Labor Other Factory OH 5,000 3,500 9,500 Walczak's predetermined OH rate is 150% of DL cost. Costs are allocated to the three jobs worked on during May as follows: Job 401 Job 402 Job 403 WIP inventory, April 30 DM DL Applied Overhead $3,600 1,700 2,550 DM DL Applied Overhead STATUS ON MAY 31...
A project has the following cash flows: Year Cash Flow 65,500 165,500 0 1 39,000 -33,600 a. What is the IRR for this project? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.a.. 32.16.) b. What is the NPV of this project if the required return is 5 percent? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to 2 decimal...
106) Consider the following two mutually exclusive projects: 14 Year Cash Flow (A) - 54,000 12,700 23,200 27,600 46,500 Cash Flow (B) -$ 23,000 11,600 11,200 12,500 6,000 0 1 2 3 4 Whichever project you choose, if any, you require a rate of return of 14 percent on your investment. If you apply the payback criterion, you will choose Project IRR criterion, you will choose Project Based on your first four answers, which project will you finally choose? А)...
Find the equivalent resistance between points A and B in the
drawing
2.00 Ω 6.00 Ω 1.00 Ω wongan 4.00 Ω 3.00Ω 2.00 Ω B 3.00 Ω
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