There is a possibility of a safety hazard for a manufactured product. As yet, no claim has been made for damages, though there is a reasonable possibility that a claim will be made. If a claim is made, it is probable that damages will be paid and the amount of the loss can be reasonably estimated. This possible loss must be:

Answers

Answer 1
Answer:

Answer:

Accrued: No; Disclosed: No

Explanation:

In accrual accounting an expense or revenue is only recorded when incurred and earned respectively.

In this instance there is a possibility of a safety hazard for manufactured product.

Since no claim has been made yet we do not accrued any amount.

The principle of full disclosure requires that a business discloses information that significantly influenced a business's financial statement.

No claims have been made on the safety hazard, although there is reasonable possibility a claim can be made and damages can be estimated.

For the business this is irrelevant to be disclosed as no claim has actually been mad that can affect the business.


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Ramona owns 20% of the stock of Miller, Inc. Miller reports the following items for the current year: Sales $3,400,000 Gain on sale of stock held for 2 years 250,000 Cost of goods sold 1,800,000 Operating expenses 900,000 Dividends paid to stockholders 180,000 What are the effects on Ramona's taxable income if Miller, Inc. is organized as: a. A corporation? b. An S corporation?
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Using the intuitive least cost method for the given transportation problem, answer the following: Cleveland Dayton Erie Supply Allentown $22 $16 $21 100 Philadelphia $28 $27 $18 150 Harrisburg $25 $23 $19 175 Demand 175 175 175 What is the maximum quantity that can be shipped from Allentown to Erie? 100 What is the maximum quantity that can be shipped from Harrisburg to Cleveland? 175 What is the maximum quantity that can be shipped from Harrisburg to Dayton? 75 Which demand location will have an unmet demand? Cleveland Answer 1:

Answers

Answer:

The demand location where demand is unmet is equal to Cleveland. Received only 75 units. 100 units demand is unmet.

Explanation:

Solution

From the example given, we solve for which demand location will have an unmet demand

Now,

The maximum quantity that can be shipped from Allentown to Erie is 100.

The Maximum quantity that can be shipped from Harrisburg to Cleveland is 175

While,

The Maximum quantity that can be shipped from Harrisburg to Dayton is 175

Hence, in case we want an  solution optimum to get the required demand as many as possible with the supply given and with a low costs, then we need to find the optimum solution.

By applying a least cost method called greedy, we need to remove our least costing node and then provide minimum of demand and supply unit a present to each cell.

Thus,

The first least cost is Allentown to Dayton.

From Allentown to Dayton 100 units. Next least cost is Philadelphia to Erie.

From Philadelphia to Erie 150 units. Next least cost is Harrisburg to Erie.

From Harrisburg to Erie 25 units. Next least cost is Harrisburg to Dayton.

From Harrisburg to Dayton 75 units. Next least cost is Harrisburg to Cleveland

From Harrisburg to Cleveland 75 units.

So, for the  optimum solution, the right choice of answer will be

From Allentown to Erie = 0 units

From Harrisburg to Cleveland = 75 units

From Harrisburg to Dayton = 75 units

Therefore, The demand location where demand is unmet  is equal to Cleveland. Received only 75 units. 100 units demand is unmet.

Final answer:

The maximum shipment from Allentown to Erie is 100 units, from Harrisburg to Cleveland is 175 units, and from Harrisburg to Dayton is 75 units. After these shipments, no location has unmet demand.

Explanation:

The problem at hand relates to the Intuitive Least Cost Method which is a method used in the field of operations research for solving transportation problems. The methodology seeks to minimize the total transport cost while meeting the demand and supply constraints at various sites.

From the provided matrix, the maximum quantity that can be shipped from Allentown to Erie is 100 units as indicated by the supply limit of Allentown. Similarly, Harrisburg can ship a maximum of 175 units to Cleveland and 75 units to Dayton, since after fulfilling the Cleveland demand, 75 units remain for Dayton. Finally, observing the demand, we see that Cleveland will still require 175 - 175 = 0 units, Dayton 175 - 100 = 75 units and Erie 175 - 100 = 75 units. Therefore, no location remains with unmet demand.

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Which of the following management actions is permissible during a union certification election? Promising benefits to employees if they reject the union Requiring all employees to attend "captive audience" speeches in the company auditorium regarding the union organizing effort Requiring small groups of employees to meet with management in a supervisor’s conference room to discuss the organizing effort Asking employees in advance of the election how they feel about the union

Answers

Answer:

Requiring all employees to attend “captive audience” speeches in the company auditorium regarding the union organizing effort                            

Explanation:

In simple words, union certification election refers to the electoral process under which the labor force of an organisation chooses its leader for a fixed period of time as determined by the rules. This process is usually seen in large organisations where a thousands of labor workforce is included.

Just like any other process, in these elections also the candidates are supposed to present themselves against the voters and tell them their ideas and the works they are going to perform.

Dillard’s, Inc., operates department stores located primarily in the Southwest, Southeast, and Midwest. In its 2016 third-quarter report, the company reported Cost of Goods Sold of $880 million, ending inventory for the third quarter of $1,900 million, and ending inventory for the previous quarter of $1,500 million. Estimate merchandise purchases for the third quarter.

Answers

Answer:

$1,280 million

Explanation:

The change between the opening inventory balance and the ending inventory balance for a period is as a result of the purchases of inventory and the sale of inventory during the period.

All of these elements are related as;

Opening inventory + purchases - cost of goods sold = ending inventory

As such, to estimate the merchandise inventory purchased,

let the purchase for the period be T

1500 + T - 880 = 1900 (All amounts in millions of $)

T = 1900 + 880 - 1500

= 1280

The merchandise purchases for the third quarter is $1,280 million.

Jack Corporation purchased a 20% interest in Jill Corporation for $1,780,000 on January 1, 2018. Jack can significantly influence Jill. On December 10, 2018, Jill declared and paid $2.4 million in dividends. Jill reported a net loss of $5.4 million for the year. What amount of loss should Jack report in its income statement for 2018 relative to its investment in Jill?

Answers

Answer:

$1,560,000

Explanation:

The computation of the amount of loss related to the investment is shown below:

= Net loss × interest percentage + dividend paid ×  interest percentage

= $5,400,000 × 20% + $2,400,000 × 20%

= $1,080,000 + $480,000

= $1,560,000

We simply added the net loss and the dividend with their interest percentage so that the correct amount can come

All other information which is given is not relevant. Hence, ignored it

Shamrock Company uses the gross profit method to estimate inventory for monthly reporting purposes. Presented below is information for the month of May. Inventory, May 1 $ 161,900
Purchases (gross) 697,000
Freight-in 31,400
Sales revenue 924,000
Sales returns 73,200
Purchase discounts 12,100

Compute the estimated inventory at May 31, assuming that the gross profit is 40% of net sales

Answers

Answer:

The estimated inventory at May 31 is $240,100

Explanation:

The gross profit is the difference between the sales revenue and the cost of good sold.

The gross profit percentage is the ratio of gross profit to net sales expressed as a percentage.

Net sales is the sales less returns and allowances. Similar to net sales is net purchases which is the gross purchase net the allowances and returns.

Net purchases = $697,000 - $12,100

= $684,900

Net sales = $924,000 - $73,200

= $850,800

Gross profit margin percent = gross profit/net sales

gross profit = 0.4 * $850,800

= $212,700

cost of goods sold = $850,800  - $212,700

= $638,100

The movement in the balance of inventory at the start and end of a period is as a result of sales and purchases. While sales reduces the balance in inventory, purchases increases the balance. This may be expressed mathematically as

Opening balance + purchases + freight inward - cost of goods sold = closing balance

$161,900 + $684,900  + $31,400 - $638,100  = Estimated ending inventory

Estimated ending inventory = $240,100

Marcos receives an annuity payment of $2,500, payable every two years, for the next ten years. The next payment is due two years from today. What is the present value of this annuity at a discount rate of 5 percent?

Answers

Answer:

$9,416.75

Explanation:

Present value is the sum of discounted cash flows.

Present value can be calculated using a financial calculator

Cash flow in year 1 = 0

Cash flow in year 2 = $2500

Cash flow in year 3 = 0

Cash flow in year 4 = $2500

Cash flow in year 5 = 0

Cash flow in year 6 = $2500

Cash flow in year 7 = 0

Cash flow in year 8 = $2500

Cash flow in year 9 = 0

Cash flow in year 10 = $2500

Present value = $9416.75

To find the PV using a financial calacutor:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. After inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.

3. Press compute

Final answer:

The present value of the annuity payments that Marcos receives is approximately $11,614.58, using the given 5% discount rate and considering the biennial payment structure.

Explanation:

To calculate the present value of an annuity where payments are made every two years, we can use the present value of an ordinary annuity formula. Since payments are made every two years, we adjust our calculations to reflect this. Given the discount rate of 5% and the next payment due to be in two years, we will use this rate for our calculations.

Here's how to find the present value of the annuity that Marcos receives. We would use the following formula for the present value (PV) of an ordinary annuity:

PV = Pmt * [(1 - (1 + r)^-n) / r]

Where Pmt is the annuity payment, r is the discount rate per compounding period, and n is the total number of compounding periods.

Marcos's annuity:

  • Payment (Pmt) = $2,500
  • Discount rate (r) = 0.05/2 = 0.025 (since payment is every two years)
  • Number of payments (n) = 10/2 = 5

Using these details, we calculate:

PV = $2,500 * [(1 - (1 + 0.025)^-5) / 0.025]

PV = $2,500 * 4.64583... (factor obtained from the formula)

PV ≈ $11,614.58

So the present value of the annuity that Marcos receives is approximately $11,614.58.

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