Prepare journal entries to record the following transactions for Sherman Systems.
A. Purchased 7,200 shares of its own common stock at $47 per share on October 11.
B. Sold 1,550 treasury shares on November 1 for $53 cash per share.
C. Sold all remaining treasury shares on November 25 for $42 cash per share.
Answers
A. October 11: Debit Treasury Stock $338,400, Credit Cash $338,400
B. November 1: Debit Cash $82,150, Credit Treasury Stock $82,150
C. November 25: Debit Cash $x (depends on the number of remaining treasury shares), Credit Treasury Stock $x
A. On October 11, Sherman Systems purchased its own common stock by debiting Treasury Stock for $338,400 and crediting Cash for the same amount.
B. On November 1, Sherman Systems sold 1,550 treasury shares at $53 per share, resulting in a debit to Cash for $82,150 and a credit to Treasury Stock for the same amount.
C. On November 25, Sherman Systems sold all the remaining treasury shares at $42 per share. The specific debit and credit amounts depend on the number of remaining shares, but Cash will be debited and Treasury Stock will be credited.
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Related Questions
Journal entry
Paid Rs. 28000 to Sansee stores in full settlement of Rs. 30000 by cheque
please help me .
Answers
Answer:
Bank A/c. Dr. 28000
Discount allowed A/c. Dr. 500
To Urmila A/c. 28500
a parent borrows $14,000 today at 5% interest compounded annually to buy a used car for their 16 year old. two years later the student receives a graduation gift of $3,000 and pays this gift toward the loan balance. approximately how much money will the parents still owe after that $3,000 payment?
Answers
Answer:$12,435
Explanation:
Principle=$14000
Rate=5% per annum compounded annually
n=2 yrs
A=P [1+(R%/100)]^2
14000 [(1+5/100)]^2
14000 (21/20)^2
14000 (21/20 * 21/20)
140 (21/2*21/2) {zeros get cancelled}
(140*441)/4
15435
Graduation gift=$3000
=15435-3000
=$12435
A furniture manufacturer must pay $16.91 to make a certain kind of chair, which it can sell for $55.75. If the manufacturer has starting overhead costs of $18,340, not including production costs, how many chairs must it sell to realize a profit of $24,850, to the nearest chair?
a. 1, 112
b. 918
C. 775
d. 640
Answers
Answer:
It is 1,112
Explanation:
I just took the test as well like the person above me
To earn a profit of $24,850, it must sell 1, 112 chairs. Thus, choice (A) is the appropriate one.
What do you meant by production costs?A company incurs production expenses, sometimes referred to as product costs, when it produces a good or offers a service. These fees cover a range of costs. Manufacturers, for instance, incur manufacturing expenses for the labor and raw materials required to generate the product.
Industries that provide services have production costs associated with the labor needed to provide the service and any materials costs associated with providing the service. The government's taxes and the royalties that resource extraction businesses are required to pay are also considered production expenses.
When a product is finished, the business records its worth in its financial accounts as an asset until the product is sold. The company's objective is achieved by listing a finished good as an asset.
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what is the formula for activity ratio
Answers
Answer:
The ratio is calculated by dividing the net sales by the working capital. The ratio helps you figure out the net annual sales generated by the average amount of working capital during a year.
Explanation:
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Answer:
The ratio is calculated by dividing the net sales by the working capital. The ratio helps you figure out the net annual sales generated by the average amount of working capital during a year.
Which of the following techniques helps a company learn more about its target market?
1. Market research
2. Publicity
3. Personal selling
4. Market segmentation
Answers
Answer:
Market research
Explanation:
moreover, dunn and bradstreet found that 20 to 25 percent of all outsourcing relationships fail within and nearly half fail within years. this implies that the likelihood of incurring these expenses again, or experiencing costs associated with reinternalizing an outsourced activity, is . another critical financial consideration with outsourcing is the impact on the .
Answers
According to research by Dunn & Bradstreet, 20 to 25 percent of all outsourcing relationships end in failure after two years, and almost half do so after five.
This suggests that there is a strong possibility that similar costs will be incurred again, as well as expenditures related to re-internalizing an outsourced operation. The effect on the internal workforce when outsourcing is a crucial financial factor.
This outsourcing model focuses on how the customer and their third-party supplier handle both ownership and accountability during the course of the collaboration.
Because another organization can complete these minor jobs more effectively than the company itself, outsourcing non-core operations can increase productivity and efficiency. Additionally, this approach may boost industry competition, shorten turnaround times, and reduce overall operating costs.
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common lit capataliasmn-Which phrase best describes the relarionship between workers and bussiness owners in capatalists cociety
Answers
Answer:
In order for the government to be able to help with a problem, the problem must be brought to the proper of government and the proper.In order for the government to be able to help with a problem, the problem must be brought to the proper of government and the proper.
Explanation:
Find the effective rate corresponding to the given nominal rate. (Use a 365-day year.) 2%/year compounded semiannually
Answers
The effective rate corresponding to the nominal interest rate of 2% compounded semiannually is 2.01%.
To find the effective rate corresponding to a given nominal rate compounded semiannually, we can use the formula:
Effective Rate = (1 + (Nominal Rate / n))ⁿ⁻¹
Where:
Nominal Rate = 2% per year
n = number of compounding periods per year
In this case, the nominal rate is given as 2% per year, and it is compounded semiannually. Since compounding is done semiannually, we have two compounding periods per year.
Substituting the values into the formula, we have:
Effective Rate = (1 + (0.02 / 2)) ²⁻¹
Calculating this expression, we find:
Effective Rate = (1 + 0.01) ²⁻¹
Effective Rate = 1.01²⁻¹
Effective Rate = 1.0201 - 1
Effective Rate = 0.0201
Therefore, the effective rate corresponding to a nominal rate of 2% per year compounded semiannually is approximately 0.0201 or 2.01%.
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3. Someday, Liam would like to be a master electrician. In order to achieve his goal, what would be a good job for Liam to take along
his career pathway?
apprentice to a residential electrician
internship at an architecture firm
junior mechanic for a machine rental agency
All changes saved
receptionist for a site project manager
Answers
A good job for Liam along his career pathway to becoming a master electrician would be an apprentice to a residential electrician (A). An apprenticeship would provide Liam with hands-on training and experience working with an experienced electrician, which would be valuable in helping him to develop the skills and knowledge necessary to become a master electrician.
Answer:
a
Explanation:
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The Shirt Works sells a large variety of tee shirts and sweatshirts. Steve Hooper, the owner, is thinking of expanding his sales by hiring high school students, on a commission basis, to sell sweatshirts bearing the name and mascot of the local high school.
These sweatshirts would have to be ordered from the manufacturer six weeks in advance, and they could not be returned because of the unique printing required. The sweatshirts would cost Hooper $16.00 each with a minimum order of 203 sweatshirts. Any additional sweatshirts would have to be ordered in increments of 203.
Since Hooper’s plan would not require any additional facilities, the only costs associated with the project would be the costs of the sweatshirts and the costs of the sales commissions. The selling price of the sweatshirts would be $32.00 each. Hooper would pay the students a commission of $7.00 for each shirt sold.
Required:
1. What level of unit sales and dollar sales is needed to attain a target profit of $7,308?
2. Assume that Hooper places an initial order for 203 sweatshirts. What is his break-even point in unit sales and dollar sales? (Round your intermediate calculations, round "Break-even point in unit sales" up to the nearest whole unit and round "Break-even point in dollar sales" to the nearest whole dollar.)
3. How many sweatshirts would Hooper need to sell to earn a target profit of $8,222? (Round final answer up to the nearest whole unit.)
Answers
1. The unit and dollar sales levels needed to attain a target profit of $7,308 are 812 and $25,984.
2. The break-even point with 203 sweatshirts is $4,669.
3. The unit sales level needed to attain a target profit of $8,222 is 914.
What is the break-even point?The break-even point represents the required sales units for no profit or loss to be achieved.
At the break-even point, the total revenue equals the total costs (fixed and variable).
Data and Calculations:Selling price per sweatshirt = $32
Variable cost per unit = $23 ($7 + $16)
Contribution margin per unit = $9 ($32 - $23)
Contribution margin ratio = 0.28125 ($9/$32)
Fixed costs = $0
Target profit = $7,308
1. Sales level to attain a target profit of $7,308 = 812 units ($7,308/$9)
And $25,984 ($7,308/0.28125)
2. Break-even point with 203 sweatshirts = $4,669 ($23 x 203)
3. Target profit = $8,222
Sales level to attain a target profit of $8,222 = 914 units ($8,222/$9)
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The Federal Reserve has recently added new rules pertaining to Debit Cards. One of the new rules is that:
A. you need to be 21 to have a debit card.
B. overdraft protection is now mandatory for consumers.
C. overdraft protection is now the consumer's choice.
D. banks can no longer charge late fees on debit card accounts.
Answers
The Federal Reserve has recently added new rules pertaining to Debit Cards. One of the new rules is overdraft protection is now the consumer's choice.
Not all checking bills price a rate for overdraft safety transfers. But after they do, the price is normally considerably much less than paying an overdraft rate. It may also permit tests to clear, which in flip will let you keep away from lower back take a look at charges from merchants. It can offer get entry to finances in instances of emergency.
If a renter with overdraft safety writes an $800 take a look at on an account with a stability of $650, the overdraft safety from their related account kicks in as quickly because the take a look at is cashed—and the take a look at clears as opposed to bouncing because of inadequate finances.
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the financial institution most likely to charge the highest rate for a loan would be a
Answers
They also frequently lend to borrowers who pose a higher risk of default, making them non-deposit taking institutions like finance companies or loan sharks that must charge higher interest rates to offset the higher risk.
A finance company? What do visitors mean by that?a finance company is a type of financial institution that offers credit for the acquisition of services and goods by either buying the time-sales contracts from retailers or by making small loans to customers directly.
What is an illustration of a finance companyFor instance, many customers of General Motors who buy cars get their loans from General Electric Acknowledgement Corporation (GMAC). Ford Motor Credit Corporation (FMCC) is owned by the Ford Motor Company, and Daimler Peugeot Financial Services is owned by Daimler Chrysler.
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A $10,000 federal subsidy per student in higher education would benefit
a. a student by exactly $10,000
b. a university by exactly
c. the student and the university in such a way that they would split the $10,000.
d. the student and the university in such a way that they would each get $10,000.
Answers
A $10,000 federal subsidy per student in higher education would benefit a student by exactly $10,000. The correct option is a.
The federal subsidy for higher education of $10,000 per student would directly benefit each student by giving them $10,000. By lessening the student's financial responsibility, the subsidy aims to increase access to and affordability of higher education. The government normally offers a subsidy to aid students in their pursuit of higher education; however, it is not always directly monetarily advantageous to the university.
Thus, the ideal selection is option a.
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when best buy provides a loyal customer with a relevant coupon on their mobile phone, based on previous purchases, while the customer is in the store, this is an example of which element of the 4e framework?
Answers
List the six areas of interest.
Answers
Answer:
Six areas of interest are: building,thinking,creating,holding, persuading and organizing.
Explanation:
The total greenhouse gas emissions generated by people, things, events, or groups are called _____ footprints.
Answers
The answer is carbon footprints I think
Many politicians have degrees in business or law.
True
False
Answers
Discuss strategies whereby the government (federal, state, or local) could reduce unemployment in or among (a) depressed industries, (b) unskilled workers, (c) depressed geographical regions, (d ) teenagers. Include comments on the type of unemployment you would expect to see in these various groups, as well as on the relative duration of unemployment spells that should exist among these groups
Answers
The government can reduce unemployment by employing different strategies, which depend on the group in question.
The following strategies can be used by the federal, state, or local government to reduce unemployment among (a) depressed industries, (b) unskilled workers, (c) depressed geographical regions, (d) teenagers:
Reducing Unemployment in Depressed Industries :The government can encourage investors to invest in depressed industries. Also, government intervention in research and development in depressed industries can help increase demand.
Reducing Unemployment among Unskilled Workers : The government can provide training programs to equip unskilled workers with the skills they need to enter the labor market. These training programs can help reduce unemployment and increase the skills of workers.
Reducing Unemployment in Depressed Geographical Regions : The government can implement policies that provide tax incentives to companies that invest in depressed regions. It can also provide subsidies to businesses that set up shop in such areas. By providing these incentives, the government can encourage companies to create jobs that are suitable for teenagers.The government can also provide training programs that equip teenagers with the skills needed to find jobs. These programs can help increase the productivity of teenagers, making them more attractive to potential employers.
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At most grocery stores, you can find food offerings from different parts of the world. whether in the international aisle or other parts of the store, these products offer consumers delicious options that can transport them a world away in one bite. however, there is a lack of international food options for shoppers who specifically want to purchase organic food. for this challenge, we would like to hear your ideas for organic food offerings that could be sold in the international aisle or other areas of the grocery store. your idea should focus on either asian cuisine or hispanic cuisine. also, we are open to all sorts of food offerings (ex. prepared items, frozen food, produce, meat, sauces, condiments, etc.) feel free to let your creativity go wild!
Answers
Most grocery stores do not offer organic food especially Asian cuisine or Hispanic cuisine on their international aisle because of the Unavailability of organic foods in the local markets.
Two ways in which such grocery stores can get access to organic foods include the following
Grocery Stores can partner with farmersGrocery Stores can venture into organic food farmingWhat are Organic Foods?Organic foods refer to those food which have been grown on land where no prohibited substances such as synthetic fertilizers or pesticides have been applied on.
The usually time frame for this assessment is to ensure that the land has been free from the application of the aforementioned substances for at least 3 years before the harvest of the the plants.
Organic farming ensures that resources are recycled, it promotes ecological balance, and conserve biodiversity.
According to the question, grocery stores can offer organic foods if they partner with farmers or if they venture into organic food farming.
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calculate the intrinsic value of rio tinto in each of the following scenarios by using the three-stage growth model of spreadsheet 18.1. treat each scenario independently. a. the terminal growth rate will be 10.40%.
Answers
The Intrinsic value is $98.63 billion terminal growth rate will be 10.40%. The Intrinsic value is $97.51 billion if Rio Tinto's actual beta is 1.03 and the Terminal value is $174.56 billion.
a. The terminal growth rate is 10.40%.
The three-stage growth model can be calculated by the following formula:
Intrinsic value = (F1 / (1 + r)^1) + (F2 / (1 + r)^2) + (F3 / (1 + r)^3) + (PV of terminal value)
Terminal value = FCF3 * (1 + g) / (r - g)
g = Terminal growth rate
Let us assume that the free cash flow for Rio Tinto for the next three years is $8 billion, $10 billion, and $12 billion. The discount rate is 8%.
Terminal value = $12 billion * (1 + 10.40%) / (8% - 10.40%)
Terminal value = -$223.53 billion
PV of terminal value = -$223.53 billion / (1 + 8%)^3
PV of terminal value = -$167.05 billion
Intrinsic value = ($8 billion / (1 + 8%)^1) + ($10 billion / (1 + 8%)^2) + ($12 billion / (1 + 8%)^3) + (-$167.05 billion)
Intrinsic value = $98.63 billion
b. The following formula is used to calculate the required rate of return for Rio Tinto using the CAPM is,
r = Rf + β x (Rm - Rf)
Let us assume that the Expected market return is 11.30%
r = 2% + 1.03 * (11.30% - 2%)
r = 11.49%
Terminal value = $12 billion * (1 + 10.40%) / (11.49% - 10.40%)
Terminal value = $251.81 billion
PV of terminal value = $251.81 billion / (1 + 11.49%)^3
PV of terminal value = $168.61 billion
Intrinsic value = ($8 billion / (1 + 11.49%)^1) + ($10 billion / (1 + 11.49%)^2) + ($12 billion / (1 + 11.49%)^3) + $168.61 billion
Intrinsic value = $97.51 billion
c. The intrinsic value of Rio Tinto can be calculated using the same free cash flow projections.
Terminal value = $12 billion * (1 + 10.40%) / (8.30% - 10.40%)
Terminal value = $174.56 billion
Therefore we can conclude that the Intrinsic value is $98.63 billion terminal growth rate will be 10.40%. The Intrinsic value is $97.51 billion if Rio Tinto's actual beta is 1.03 and the Terminal value is $174.56 billion.
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The complete question is-
calculate the intrinsic value of Rio Tinto in each of the following scenarios by using the three-stage growth model of spreadsheet 18.1. treat each scenario independently.
a. the terminal growth rate will be 10.40%.
b. Rio Tinto's actual beta is 1.03
c. The market risk premium is 9.30%
How do the different auto loan factors impact monthly payments?
Answers
which of the following is not an element of structural quality in child care programs
Answers
Answer:
The correct answer is ''Parent-caregiver relationships.''
Bonds issued by raxin accounting have a total yield of 11.4% annually, while raxin accounting stocks have a total yield of 14.4% annually. if you invest $2,600 in raxin accounting bonds and $2,000 in raxin accounting stocks, which investment will have a greater return after nine years, and how much greater will it be? a. the bonds will show a profit that is $75.60 greater than that of the stocks. b. the bonds will show a profit that is $67.60 greater than that of the stocks. c. the stocks will show a profit that is $8.00 greater than that of the bonds. d. the stocks will show a profit that is $524.40 greater than that of the bonds.
Answers
If amounts of $2600 and $2000 are invested in raxin accounting bonds and stocks respectively, bonds will give a return over such investment that is more than $158 compared to that of stocks.
What is return on investment?Using the given information, it can be calculated that the returns generated by bonds over an investment of $2600 for nine years will be $6870; whereas that for stocks will be $6712 for an investment of $2000.
\(\rm Better\ Return\ on\ Investment= Returns\ over\ Bonds – Returns\ over\ Stocks\\\\\rm Better\ Return\ on\ Investment= 6870-6712\\\\\rm Better\ Return\ on\ Investment= \$158\)
Hence, it has been computed that bonds have a generated a better return on investment at the rate of 11.4 percent for a period of nine years that is more by $158 than that of returns by stock investments.
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Answer:
Its A) 75.60 greater than that of stocks
Explanation:
ON EDGE
T/F : states may tax the portion of an interstate business that is produced within its borders
Answers
True. States have the authority to tax the portion of an interstate business that is produced within their borders.
Under the principle of "nexus," states have the power to impose taxes on businesses that have a substantial presence or connection within their jurisdiction.
This includes the ability to tax the portion of an interstate business that is produced within their borders.
This principle is based on the understanding that the state provides infrastructure, services, and a conducive business environment that contributes to the business's ability to operate and generate revenue.
The extent to which a state can tax an interstate business depends on the concept of "apportionment," which determines the proportion of a business's income or activity that is subject to taxation in each state.
States use various methods, such as the apportionment formula, to allocate taxable income based on factors like sales, payroll, and property within their jurisdiction.
Therefore, the statement that states may tax the portion of an interstate business that is produced within their borders is true. This taxation authority allows states to collect revenue and maintain a fair distribution of tax burdens among businesses operating within their jurisdiction.
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What is a scenario in Excel 2016?
Answers
Answer:
In Excel, a scenario is a set of data inserted in the spreadsheet that is being used, which forms a variable that can be modified and, therefore, replaced in said spreadsheet together. Thus, for example, if cells A1: D4 contain data that is specific to an eventual particular situation that can occur in 3 different ways, there will be 3 scenarios containing data in that range of cells that can be modified, thus modifying the final results of spreadsheet.
Answer:
C. a set of input values that produce a result
Explanation: edg
The population of a small country increases according to the function b = 1,800,000e0.02t, where t is measured in years. how many people will the country have after 9 years?
Answers
The given function that represents the population growth of a small country is b = 1,800,000e0.02t, where t is measured in years. To find out how many people the country will have after 9 years, we need to substitute the value of t into the equation and solve for b.
Substituting t = 9 into the equation, we have:
b = 1,800,000e0.02(9) First, we calculate the exponent:
0.02(9) = 0.18 Next, we substitute the exponent back into the equation:
b = 1,800,000e0.18 Using the exponential function, we find:
e^0.18 ≈ 1.197
Now, we multiply this value by 1,800,000:
b ≈ 1,197 × 1,800,000 Calculating this, we get:
b ≈ 2,156,573.13 Therefore, after 9 years, the country will have approximately 2,156,573 people.
In conclusion, the population of the small country will be more than 2,156,573 people after 9 years.
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list different types (models) of diffusion and provided examples/illustrations of each in the real world.
Answers
The different types of diffusions are
Expansion Diffusion
Contagious Diffusion.
Hierarchical Diffusion.
Stimulus Diffusion.
Expansion diffusion is while innovations unfold to new places even as staying sturdy in their original places. For instance, Islam has unfold at some point of the sector, but stayed sturdy in the center East, wherein it became based.
Expansion diffusion happens when the spreading phenomenon has a supply and diffuses outwards into new areas, an instance being a spreading wildfire. Relocation diffusion takes place while the spreading phenomenon migrates into new areas, leaving at the back of its beginning or source of the sickness.
Expansion Diffusion is the spread of a concept through a population wherein the amount of these influences grows continuously large. There are 3 sub-styles of growth diffusion: Stimulus, Hierarchical, and Contagious.
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Which of the following statements is false?
a. The purpose of investing in a closed-end or open-end mutual fund is to earn a financial return.
b. Income dividends are the earnings that a fund pays to shareholders from its dividend and interest income.
c. Capital gain distributions are the payments made to a fund's shareholders that result from the sale of securities in the fund's portfolio.
d. It is possible to make money on a mutual fund by purchasing shares at a high price and then selling them at a low price at a later date.
e. All of the above statements are true.
Answers
The false statement in this case is option d. It is not possible to make money on a mutual fund by purchasing shares at a high price and then selling them at a low price at a later date. This is because mutual funds are long-term investments, and the value of the shares may fluctuate over time.
However, it is important to hold onto the shares for an extended period to benefit from the financial returns of the fund. Options a, b, and c are all true statements and are important concepts to understand when investing in mutual funds. Investing in mutual funds can be a great way to grow your wealth, but it is crucial to understand the risks and potential benefits before investing.
The correct approach to making money on a mutual fund is to buy shares at a low price and sell them at a higher price later on. This allows you to realize capital gains and potentially earn a profit. The other statements (a, b, and c) are true, as they accurately describe the purpose of investing in mutual funds, income dividends, and capital gain distributions.
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Type the correct answer in the box. Spell all words correctly.
What need is influenced by an individual’s personality, culture, and environment?
______ are needs that are influenced by an individual’s personality, culture, and environment, while needs are essential to human life.
Answers
Answer:
WANTS are those needs(things that u don't need that moment like cars etc) which influence one personality, culture and environment.7.)
The capital structure for Tenet is provided below. If the firm has a 3.5% after tax cost of debt, 6% commercial loan rate, a 13.5% cost of preferred stock, and an 18% cost of common stock, what is the firm's weighted average cost of capital (WACC)? [a]
Note: format is xx.xx%
Capital Structure (in K's)
Bonds $ 1,083
Commercial Loans $ 2,845
Preferred Stock $ 268
Common Stock $ 3,681
Answers
The weighted average cost of capital (WACC) for Tenet is 10.32%.
The weighted average cost of capital (WACC) is a measure of the overall cost of financing for a company, taking into account the cost of each component of its capital structure. To calculate the WACC, we need to determine the weights and costs of each source of financing and then calculate the weighted average.
First, we calculate the weights for each component of the capital structure. The weight of each component is calculated by dividing its value by the total value of the capital structure. In this case, the total value of the capital structure is the sum of the values of bonds, commercial loans, preferred stock, and common stock.
Weight of Bonds = $1,083 / ($1,083 + $2,845 + $268 + $3,681) = 0.136
Weight of Commercial Loans = $2,845 / ($1,083 + $2,845 + $268 + $3,681) = 0.359
Weight of Preferred Stock = $268 / ($1,083 + $2,845 + $268 + $3,681) = 0.034
Weight of Common Stock = $3,681 / ($1,083 + $2,845 + $268 + $3,681) = 0.471
Next, we calculate the cost of each component. The cost of debt is given as a 3.5% after-tax rate. The cost of preferred stock is 13.5%, and the cost of common stock is 18%.
Weighted Cost of Debt = Weight of Bonds * Cost of Debt = 0.136 * 3.5% = 0.476%
Weighted Cost of Preferred Stock = Weight of Preferred Stock * Cost of Preferred Stock = 0.034 * 13.5% = 0.459%
Weighted Cost of Common Stock = Weight of Common Stock * Cost of Common Stock = 0.471 * 18% = 8.478%
Finally, we sum up the weighted costs of each component to calculate the WACC:
WACC = Weighted Cost of Debt + Weighted Cost of Preferred Stock + Weighted Cost of Common Stock
= 0.476% + 0.459% + 8.478%
= 9.413%
Therefore, the firm's weighted average cost of capital (WACC) is 9.413%, which can be approximated as 9.41% to two decimal places.
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