Maggie's Muff
Q: Jordan pays $3,000 in tuition to New York University for completion of his Masters in Tax degree.…
A: If you’re self-employed, you can deduct the cost of education for your trade or business on Schedule…
Q: Camilla buys her first property (a house) on 1 January 2018 for $500,000 and she moves into it…
A:
Q: One is not a qualification to be a director: Group of answer choices Resident of Philippines at…
A: qualification to be a director:Should be holding shares in the company.. Not been convicted in the…
Q: or single periodic rental in an instalment sale or finance lease of personal property assuming a…
A: The following is the remedy available::: a.Exact fulfilment of the obligation with right to recovery…
Q: SHUTDOWN OR CONTINUE OPERATIONS DANCING ELF INC. produces white glue (a wood glue) that is used by…
A: Variable cost is the cost that changes with the change in the output level.
Q: Wool Inc purchased a machine on April 1, 2020, for $90,000, with an estimated useful life of 10…
A: Introduction: Depreciation: Decreasing value of fixed assets over its useful life period called as…
Q: How does taxation for the corporate form and taxation for the partnership form diffe
A: A business can be run as various different legal forms. Some of the popular legal form that a…
Q: China Company expects to have a cash balance of $40,000 on January 1, 2017. Relevant monthly budget…
A:
Q: The following balance sheet is for X Company: Balance Sheet January 1, 2021 Assets Equities Cash…
A: Solution: Ending Total assets = Beginning Total assets + Increase in assets during the year -…
Q: For the past 3 years, Warrem has operated a part-time business venture from his home. As of April 1,…
A: Journal: It implies to a primary book of accounting that is used by the business for recording it's…
Q: DATA Dividends declared Dividends payable at the beginning of the year Dividends payable at the end…
A: Calculation of the amount of dividend paid to the shareholders for the year:: Opening balance of…
Q: 14. Given: Bank ending balance of 6250, deposits in transil of 560, outstanding checks of 340, book…
A: Note: Hi! Thank you for the question As per the honor code, We’ll answer the first question since…
Q: Explain the importance of audit documentation please
A: Introduction:- Audit is to ensure that the companies financial statements are free from all material…
Q: Explain the purpose of the statement of cash flows and why it is necessary.
A: A statement of cash flow is a simple financial report that shows a company's cash inflows (cash…
Q: A debit order of R1500 for payment of rates will appear in ____________during the bank…
A: Answer:- Bank reconciliation:- A bank reconciliation is the process of reconciling the bank account…
Q: 5. Never Corp. purchased merchandise during 2014 on credit for P200,000; terms 2/10, n/30. All of…
A:
Q: n 7/2/Y1 Loch Ness, Inc. purchased 50 of the $1,000 face bonds issued by EBerry Corp. Loch Ness paid…
A: Bonds- Bonds and debentures are debt instruments issued by the government or a corporation.…
Q: On June 30, 2021, Moran Corporation issued $13.0 million of its 8% bonds for $11.7 million. The…
A: Lets understand basics. When bond is issued for less than its face value then it is known to be…
Q: Balance of Cash * The trial balance for Ariel Certified Cleaners appears as follows: Ariel Certified…
A: Trial balance shows summary presented for all the general ledger account balances in the business.…
Q: On October 1 of this year, SportsWorld purchased a delivery van for $23,000 with a residual value of…
A: Introduction: Depreciation: Depreciation is a expense to be shown in Income statement. Decreasing…
Q: How does audit risk relate to audit evidence?
A: Audit Evidence The information obtained by the auditor from numerous sources (finance records,…
Q: The following information is provided regarding a company's pension plan: Service cost $640,000…
A: Interest on projected benefit obligation = Projected benefit obligation, Jan. 1 × Interest cost =…
Q: [The following information applies to the questions displayed below.) On March 1, Hugh Corporation…
A: Note payable is one of the important liability of the business, on which regular interest payments…
Q: used. If the desired after-tax return on investment is 10% per year, which de should be chosen?…
A: The net present value is the difference between the present value of cash flow and initial…
Q: which of the following is necessary to solve a discount problem? a.future amount b.interest…
A: In a discounting problem, the present value of future cash flow is calculated. In order to…
Q: 6. Dracaris Inc. purchased an investment and expected to earn: Year Net Cash Flows Php250 Php300 1 3…
A: Net present value- Net present value (NPV) is the distinction among the current value of cash…
Q: Company Name Lowe's Company Part 1 1. Read the business summaries and management’s discussion and…
A: Here given the multi sub part question we will solve for first three sub part question for you. If…
Q: Aldor Corporation opened a new store on January 1, 2014. During 2014, the first year of operations,…
A: Weighted Average - Under the Weighted Average Method, the cost is considered to be average at the…
Q: Zoey Bella Company has a payroll of $5,080 for a five-day workweek. Its employees are paid each…
A: Adjusting entries are those entries which are passed at the end of the period in order to accurately…
Q: n early 2021, Amina Corp. had balances in account receivables of BD 125,000 and allowance for…
A: The net realizable value for account receivables is calculated as difference between gross account…
Q: Required: (a) How many rights are required to purchase one new share? (b) What is the price of one…
A: Number of shares = Desired funds /Subscription price= 22,500,000/ 75= 300,000 shares
Q: ect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is…
A: Statement of cash flows: It is a financial statement that shows the increase or decrease in the cash…
Q: ABC Corporation reports the following information: Correction of overstatement of depreciation…
A: GIVEN Correction of overstatement of depreciation expense in prior years, net of tax $ 430,000…
Q: Adjustments to net Income - indirect method DATA $14,785 $4,500 Depreciation Amortization of patents…
A: Cash Flow from Operating Activities: Under Indirect method of Calculating the cash flow from…
Q: Operating data for Blue Spruce Corp. are presented as follows. 2022 2021 Sales revenue $834,000…
A: Vertical analysis is one of the form of financial statement analysis under which each item is being…
Q: Required: Prepare the journal entries required from the issuance of the note until its maturity on…
A: Note payable is one of the liability of the business, on which regular interest payments needs to be…
Q: Required information [The following information applies to the questions displayed below.] On…
A: Warranty is a form of assurance being given to the buyer by seller that in case product will have…
Q: Swifty Corporation recently performed repair services for acustomer that totaled $600. Somehow the…
A: Direct Labor - Labor directly involved in the manufacturing process and identifiable with relevant…
Q: Rainey Enterprises loaned $50,000 to Small Company on June 1, Year 1, for one year at 7 percent…
A: The journal entries are prepared to record day to day transactions of the business on regular basis.…
Q: Dr. Barrett wants to purchase a new piece of equipment for his practice. The equipment can be…
A: Pay back period refers to method of valuation a capital budget where it is calculated that under in…
Q: The payback period at i= 0% is determined to be years. The payback period at i= 12% is determined to…
A: Payback Period The payback period is the amount of time it would take for an investor to recover a…
Q: Leaf's Paper Company is planning to launch a new notebook product that is water resistant. The…
A: Given information :- Awareness rate = 73% or 0.73 ACV% = 52% or 0.52 Units per trial = 5 Number…
Q: You have been asked by your boss to consider purchasing a new machine to replace an old machine.…
A: Operating cost of old machine is increasing by $5000 straight forward from 2016 to 2021 As per…
Q: Mona moobl3 Ltd operates a standard costing system and absorbs overheads on the basis of standard…
A: Overheads are the indirect costs related with the production and manufacturing. These costs can not…
Q: equired: Prepare the Trial Balance section of a 10-column worksheet. The worksheet covers the year…
A:
Q: prepare the Closing Entries
A: June 18 Furniture Dr. 12000 To cash 12000 (being the purchase of…
Q: For 20Y2, Fielder Industries Inc. initiated a sales promotion campaign that included the expenditure…
A: Vertical analysis: It is a method of analyzing the financial statement in which each item is shows…
Q: A fairly recent technology-related tool that many companies use to solicit feedback from customers…
A: Customer relationship is important factor in business. This says that healthy relations should be…
Q: DIScussion Board #12 What are the primary reasons for a stock split and for treasury stocks?
A: Stock Splits means when one share of the company is being broken into multiple shares which will…
Q: Leyland Realty Company received a check for $18,000 on July 1, which represents a 6-month advance…
A: Adjusting entries are those journal entries which are passed at the end of accounting period in…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Broussard Skateboard’s sales are expected to increase by 15% from $8 million in 2018 to $9.2 million in 2019. Its assets totaled $5 million at the end of 2018. Broussard is already at full capacity, so its assets must grow at the same rate as projected sales. At the end of 2018, current liabilities were $1.4 million, consisting of $450,000 of accounts payable, $500,000 of notes payable, and $450,000 of accruals. The after-tax profit margin is forecasted to be 6%, and the forecasted payout ratio is 40%. Use the AFN equation to forecast Broussard’s additional funds needed for the coming year.Johnny’s Hardware Store’s sales were $550,000 during 2019, and its year-end assets were $440,000. For 2020, sales are expected to grow by 5%, and since the firm is operating at full capacity, its assets must grow in proportion to sales. Its current liabilities consisted of $65,000 of accounts payable, $25,000 of notes payable, and $55,000 of accruals. Its after-tax profit margin is forecasted to be 17%, and the firm plans to pay out 25% of its earnings. Based on the AFN equation, what is the firm’s additional funds needed (AFN) for 2020? (HINT: do notes payable spontaneously increase with sales? Show all work.) -$30,131 -$37,631 -$45,631 -$50,131 -$57,631 2.What types of liabilities, assets, and equity are not assumed to vary directly with sales?Kestus Corporation's sales are expected to increase from $5 million in 2019 to $6 million in 2020, or by 20%. Its assets totaled $5 million at the end of 2019. Kestus is at full capacity, so its assets must grow in proportion to projected sales. At the end of 2019, current liabilities are $1 million, consisting of $250,000 of accounts payable, $500,000 of notes payable, and $250,000 of accrued liabilities. Its profit margin is forecasted to be 6%, and the forecasted retention ratio is 25%. Use the AFN equation to forecast Kestus additional funds needed for the coming year. Write out your answer completely. For example, 5 million should be entered as 5,000,000. Round your answer to the nearest dollar. Now assume the company's assets totaled $3 million at the end of 2019. Is the company's "capital intensity" the same or different comparing to initial situation?
- Mayor company sales are expected to increase by 20% from $5 million in 2018 to $6 million in 2019. Its assets totaled $7 million at the end of 2018. Mayor is already at full capacity, so its assets must grow at the same rate as projected sales. At the end of 2018, current liabilities were $1.2 million, consisting of $500,000 of accounts payable, $300,000 of notes payable, and $400,000 of accruals. The after-tax profit margin is forecasted to be 5%, and the forecasted payout ratio is 60%. a. Use the AFN equation to forecast Mayor’s additional funds needed for the coming year.Broussard Skateboard’s sales are expected to increase by 15% from $8 million in 2019 to $9.2 million in 2020. Its assets totaled $5 million at the end of 2019. Broussard is already at full capacity, so its assets must grow at the same rate as projected sales. At the end of 2019, current liabilities were $1.4 million, consisting of $450,000 of accounts payable, $500,000 of notes payable, and $450,000 of accruals. The after-tax profit margin is forecasted to be 6%, and the forecasted payout ratio is 40%. Use the AFN equation to forecast Broussard’s additional funds needed for the coming year.Carlsbad Corporation's sales are expected to increase from $5 million in 2019 to $6 million in 2020, or by 20%. Its assets totaled $6 million at the end of 2019. Carlsbad is at full capacity, so its assets must grow in proportion to projected sales. At the end of 2019, current liabilities are $1 million, consisting of $250,000 of accounts payable, $500,000 of notes payable, and $250,000 of accrued liabilities. Its profit margin is forecasted to be 7%, and the forecasted retention ratio is 25%. Use the AFN equation to forecast Carlsbad's additional funds needed for the coming year. Write out your answer completely. For example, 5 million should be entered as 5,000,000. Round your answer to the nearest dolla
- Beasley Industries' sales are expected to increase from $5 million in 2019 to $6 million in 2020, or by 20%. Its assets totaled $2 million at the end of 2019. Beasley is at full capacity, so its assets must grow in proportion to projected sales. At the end of 2019, current liabilities are $700,000, consisting of $120,000 of accounts payable, $350,000 of notes payable, and $230,000 of accrued liabilities. Its profit margin is forecasted to be 4%, and its dividend payout ratio is 50%. Using the AFN equation, forecast the additional funds Beasley will need for the coming year. Do not round intermediate calculations. Round your answer to the nearest dollar.Carlsbad Corporation's sales are expected to increase from $5 million in 2019 to $6 million in 2020, or by 20%. Its assets totaled $4 million at the end of 2019. Carlsbad is at full capacity, so its assets must grow in proportion to projected sales. At the end of 2019, current liabilities are $1 million, consisting of $250,000 of accounts payable, $500,000 of notes payable, and $250,000 of accrued liabilities. Its profit margin is forecasted to be 7%, and the forecasted retention ratio is 35%. Use the AFN equation to forecast the additional funds Carlsbad will need for the coming year. Write out your answer completely. For example, 5 million should be entered as 5,000,000. Round your answer to the nearest dollar. i keeo getting it wrong, i got: can you help me walk though it with excel formulas please :) ASSETS $ 4,000,000.00 SALES IN 2019 $ 5,000,000.00 TOTAL LIBS $ 1,000,000.00 SALES IN 2020 $ 6,000,000.00 AP $ 250,000.00 VALUE OF SALES INCEASE $…Carlsbad Corporation’s sales are expected to increase from $5 millionin 2018 to $6 million in 2019, or by 20%. Its assets totaled $3 million at the end of 2018.Carlsbad is at full capacity, so its assets must grow in proportion to projected sales. At theend of 2018, current liabilities are $1 million, consisting of $250,000 of accounts payable,$500,000 of notes payable, and $250,000 of accrued liabilities. Its profit margin is forecastedto be 3%, and the forecasted retention ratio is 30%. Use the AFN equation to forecast theadditional funds Carlsbad will need for the coming year.
- Carlsbad Corporation's sales are expected to increase from $5 million in 2021 to $6 million in 2022, or by 20%. Its assets totaled $3 million at the end of 2021. Carlsbad is at full capacity, so its assets must grow in proportion to projected sales. At the end of 2021, current liabilities are $1 million, consisting of $250,000 of accounts payable, $500,000 of notes payable, and $250,000 of accrued liabilities. Its profit margin is forecasted to be 6%, and the forecasted retention ratio is 30%. Use the AFN equation to forecast the additional funds Carlsbad will need for the coming year. Write out your answer completely. For example, 5 million should be entered as 5,000,000. Round your answer to the nearest dollar. $ What additional funds would be needed if the company's year-end 2021 assets had been $4 million? Assume that all other numbers are the same. Write out your answer completely. For example, 5 million should be entered as 5,000,000. Round your answer to the nearest dollar. $ Is…Broussard Skateboard's sales are expected to increase by 25% from $7.2 million in 2019 to $9.00 million in 2020. Its assets totaled $5 million at the end of 2019. Broussard is already at full capacity, so its assets must grow at the same rate as projected sales. At the end of 2019, current liabilities were $1.4 million, consisting of $450000 of accounts payable, $500000 of notes payable, and $450000 of accruals. The after-tax profit margin is forecasted to be 3%, and the forecasted payout ratio is 55%. Use the AFN equation to forecast Broussard's additional funds needed for the coming year. Enter your answer in dollars. For example, an answer of $1.2 million should be entered as $1,200,000. Do not round intermediate calculations. Round your answer to the nearest dollar.Carston Corporation's sales are expected to increase from $5 million in 2019 to $6 million in 2020, or by 20%. Its assets totaled $4 million at the end of 2019. Carston is at full capacity, so its assets must grow in proportion to projected sales. At the end of 2019, current liabilities are $1 million, consisting of $250,000 of accounts payable, $500,000 of notes payable, and $250,000 of accrued liabilities. Its profit margin is forecasted to be 5%, and the forecasted retention ratio is 40%. Use the AFN equation to forecast the additional funds Carston will need for the coming year. Write out your answer completely. For example, 5 million should be entered as 5,000,000. Round your answer to the nearest dollar.