A company has the following liabilities: Accounts payable = $75,000 ⚫ Accrued wages = $25,000 ⚫ Short-term notes payable = $45,000 Accrued taxes = $20,000 Calculate the total current liabilities.
Q: Correct Answer
A: Option A: This option is incorrect because deferred tax assets are not always recognized in full. If…
Q: At the beginning of the year, manufacturing overhead for the year was estimated to be $916,725. At…
A: Explanation of Manufacturing Overhead: Manufacturing overhead includes all indirect costs associated…
Q: Answer? ? Financial accounting
A: Required Rate of Return=Rf+β⋅(Rm−Rf)Where:Rf = Risk-free rate = 4% or 0.04Rm = Expected return…
Q: Provide correct answer general accounting
A: Step 1:Under activity-based costing, the activity rate is calculated by dividing the total activity…
Q: A business reports: ⚫ Net income: $15,000,000 . Total assets: $45,000,000 ⚫ Total debt: $20,000,000…
A: Given:Net income = $15,000,000Total assets = $45,000,000Total debt = $20,000,000 Formula:Return on…
Q: Kindly help me with accounting questions
A: Step 1: Definition of Overhead RateThe overhead rate is the percentage of overhead costs allocated…
Q: Financial accounting question
A: Step 1: Calculation of gross profitGross profit = Sales - Cost of goods soldGross profit = $541,000…
Q: General Account
A: To calculate the product cost per unit, we need to focus only on the costs directly associated with…
Q: Please provide this question solution general accounting
A: Equity Premium=Stock Market Return−Risk-Free RateIn this case:The stock market return is 12.5%.The…
Q: Kindly help me with accounting questions
A: Given:Taxable Income = $800,000Corporate Tax Rate = 30%Calculation:Tax Payable = Taxable Income x…
Q: None
A: Calculation of the expected collections for June:Given:Cash sales from June: 25% of June's…
Q: I need answer of this accounting questions
A: To calculate the corporate tax payable, use the formula: Tax Payable = Taxable Income × Tax Rate…
Q: Accounting cash flow financial accounting
A: Below the correct answer of all questions: Step 1:Question - Accounting: When should…
Q: Safe Bank's loan agreement specifies: principal $50,000, annual interest rate 8%, term 3 months.…
A: To calculate the total interest payable for the loan period, we can use the simple interest…
Q: Give me answer
A: Explanation of Contribution Margin: This is the difference between selling price and variable costs…
Q: Hello tutor please given correct answer general Accounting question
A: Step 1: Define Ratio AnalysisIn management accounting, the ratio analysis is a significant analysis…
Q: Sub: financial accounting
A: Explanation of Variance: This is a statistical measure that quantifies how far numbers in a dataset…
Q: MCQ 4
A: The correct answer is 1) A firm order to buy. A purchase commitment is a legal instrument in which a…
Q: The initial cost the equipment is ?? General accounting
A: To determine the initial cost of the equipment, we need to use the internal rate of return (IRR),…
Q: Accounting
A: Step 1: Understand Absorption CostingAbsorption costing includes all manufacturing costs in the…
Q: Expert please provide answer
A: Challenges and Solutions:1. System CompatibilityChallenge: Different accounting systems might not be…
Q: Abc
A: Step 1: Definition of Accounts Receivable Turnover RatioThe accounts receivable turnover ratio…
Q: You believe the expected return on ABC is 14.70%, and that the variance of ABC's returns is 0.3600.…
A: The coefficient of variation (CV) is calculated as: Coefficient of Variation (CV)=Expected…
Q: Tutor need your guidance
A: To find the number of workdays in an order cycle, we first need to calculate the Economic Order…
Q: I don't need ai answer accounting questions
A: Step 1:Calculate the average accounts receivable as follows:Average accounts receivalbe = (Accounts…
Q: Financial accounting
A: Explanation of Issued Shares:Issued shares represent the total number of shares that a company has…
Q: Need answer
A: Explanation of Predetermined Overhead Rate:The predetermined overhead rate is a standard rate used…
Q: Hi expert provide correct answer
A: Step 1: Definition of Cost of Goods Manufactured (COGM)The cost of goods manufactured (COGM)…
Q: provide correct general account answer goive
A: To calculate the cost of units transferred out of the department, we use the cost reconciliation…
Q: The Aakash Company forecasts that total overhead for the current year will be $17,000,000 and total…
A: The predetermined overhead rate is calculated using the formula: Predetermined overhead rate =…
Q: Calculate the business return on assets? General accounting
A: The Return on Assets (ROA) is calculated using the formula: ROA = (Net Income / Total Assets) × 100…
Q: 4 PTS
A: Why this is the right answer:1) Firm order to buyA purchasing promise is an agreement that is…
Q: Expert need your help
A: FEEL FREE TO ASK FOR CLARIFICATIONS
Q: financial Account
A: To calculate the estimated ending inventory, we can use the gross profit method. This method…
Q: Provide answer
A: ROE=Profit Margin×Total Asset Turnover×Equity MultiplierProfit Margin (PM):PM=Net…
Q: Financial accounting question
A: Step 1: DefinitionStandard Direct Labor Rate Per Hour: The total hourly labor cost for production,…
Q: Subject: Financial Accounting 2.1 Safe Bank's loan agreement specifies: principal $50,000, annual…
A: Concept of PrincipalThe principal refers to the initial amount of money borrowed or invested, before…
Q: Dart Inc
A: Concept of Absorption Costing: Absorption costing refers to a method of accounting for all costs of…
Q: General accounting
A: Step 1: Definition of Accounts Receivable TurnoverThe Accounts Receivable Turnover measures how…
Q: General accounting
A: Step 1: Calculate the Compensating BalanceCompensating Balance = Loan Amount x Compensating Balance…
Q: General accounting
A: Step 1: Definition of Debtors (Accounts Receivable)Debtors are customers to whom a company has made…
Q: provide correct solution in this general account query
A: Step 1:Estimated Ending Inventory can be calculated by subtracting the cost of goods sold from the…
Q: Cinturon Corporation produces high-quality leather belts. The company's plant in Boise uses a…
A: Step 1:DefinitionsDirect Labor Rate Variance (DLRV):Measures the difference between the actual labor…
Q: Which corporate costs should be allocated to division
A: Explanation of Bond Issuance:A bond issuance refers to a method used by corporations to raise funds…
Q: What is the variable electricity cost per unit and the total fixed electricity cost?
A: Step 1: Definition of the High-Low MethodThe High-Low Method is a technique used to separate mixed…
Q: What will be the assets annual depreciation?
A: Step 1: Analysis of information givenCost = $30,000Number of years of useful life = 10Salvage value…
Q: I want to correct answer accounting questions
A: Step 1: Definition of Units-of-Production DepreciationUnits-of-Production Depreciation allocates the…
Q: Please given correct answer general accounting
A: Step 1: Definition of Bad Debt ExpenseThe bad debt expense represents the portion of a company's…
Q: Need answer
A: Explanation of Assets: Assets are economic resources owned or controlled by a business that are…
Q: I need a expert not AI Step Amount Category Inventory 1. Beginning Balance, January 1…
A: 1.The table shows that the variable factory overhead is listed separately in Step 7. Variable…
Please provide this question solution general accounting
Step by step
Solved in 2 steps
- the net realizable value of accounts receivable?Suppose the Schoof Company has this book value balance sheet: $30,000,000 Current assets Fixed assets Total assets Short-term debt Long-term debt Common equity Total capital $ 70,000,000 $ $100,000,000 Current liabilities Notes payable The notes payable are to banks, and the interest rate on this debt is 9%, the same as the rate on new bank loans. These bank loans are not used for seasonal financing but instead are part of the company's permanent capital structure. The long-term debt consists of 30,000 bonds, each with a par value of $1,000, an annual coupon nterest rate of 7%, and a 25-year maturity. The going rate of interest on new long-term debt, rd, is 12%, and this s the present yield to maturity on the bonds. The common stock sells at a price of $60 per share. Calculate the firm's market value capital structure. Do not round intermediate calculations. Round the monetary values to the nearest dollar and percentage values to two decimal places. Long-term debt Common stock (1…The accountant for Jaemin Corporation prepared the following schedule of liabilities as of December 31,2022. Accounts payable and accrued expenses 1,650,000Notes payable — trade 1,200,000Notes Payable — bank 8,000,000Wages and salaries payable 350,000Interest payable ?10% mortgage note payable 6,000,00012% mortgage note payable 4,500,000Bonds payable 10,000,000 The following additional information pertains to these liabilities: a. The bank notes payable include two separate notes payable to Minhyung Bank:(1) A P2,000,000, 8% note issued March 1, 2022, payable on demand. Interest is payable eachsix months. Jaemin already made the first semi-annual interest payment on August 31, 2022. (2) A 2-year, P6,000,000, 11 % note issued January 2, 2021. On December 30, 2022, after paying the accrued interest, Jaemin negotiated a written agreement with the Minhyung Bank to replace this note with a 2-year, P6,000,000, 10% note. The new note was issued January 2, 2023.b. The 10% mortgage note was…
- A business issued a 45-day, 6% note for $210,000 to a creditor. Principal and interest are payable at maturity. How is maturity value calculated in this case? What is the maturity value of the note?-What is XYZ's current ratio on December 31, 2021? -What is XYZ's Accounts Receivables Turnover for 2021? (assume Accounts Receivable, net was $500,000 on December 31, 2020) -What is XYZ's Asset Turnover for 2021? (assume total assets were $14 million on December 31, 2020) Account Balance Data Debit Credit Cash 217,650 Accounts Receivable 545,000 Interest Receivable 1,200 Allowance for Doubtful Accounts 8,450 Merchandise Inventory 778,000 Prepaid Insurance 30,000 Notes Receivable Land 2,000,000 Office Building 4,000,000 Office Equipment 320,000 Store Building 9,000,000 Store Equipment 3,560,000 Accumulated Depreciation - office building and equipment 1,580,000 Accumulated Depreciation - store building and equipment 4,126,000 Goodwill 700,000Sterling Inc. has two long-term notes outstanding. One is a five-year note for $50,000. An equal amount of principal must be repaid each year of the loan. The other is a seven-year note for $210,000. In the next calendar year, the company will pay $21,000 of the principal. What is total amount of the notes that will be reported as current liabilities on its balance sheet? Oa. $229,000 Ob. $31,000 Oc. $71,000 Od. $40,000
- A bank is earning 6% on its $150 million in earning assets and is paying 4.75% on its liabilities. The bank's Net Interest Margin is __________________. A. 6.00% B. 10.75% C. 4.75% D. 1.25%When $8,600 is invested in a savings account paying simple interest for the year, the interest, i in dollars, can be obtained from the equation i=8,600r, where r is the rate of interest in decimal form. Graph i=8,600r, for r up to and including a rate of 16%. If the rate is 7%, how much interest is earned? OA. $6,020 OB. $602 OC. $586 OD. $622please help answer the attached.
- LMN Corp has the following data showing for the current year: Interest on peso savings account, net of tax Interest on dollar savings account, net of tax Interest expense on bank loans RCIT rate applicable 30,000 15,000 60,000 20% How much is the allowable interest expense? 25,000 35,000 60,000 None of the aboveAccounting question: If you are doing a balance sheet with notes payable of 96,600. Assuming 13,600 of the note payable will be paid the following year. Where are how do you enter it. Long Term Liability?What is the correct option? ? General Accounting question
