8. Harley paid $200 cash to an assistant for hours worked during the grand opening. 9. Cash received from services provided during the second half of the month was $1,000. 10.
Increase of $8,000 B. Increase of $1,000 C. Decrease of $7,000 D. Decrease of $1,000 47. The following monthly data are available for the Eager Company and its only product: Sales (7,000 units @ $75)………………...$525,000 Variable expenses (7,000 units @ $30)…..$210,000 Total fixed expenses……………………...$180,000 The margin of safety for the company for March was: A. $315,000 B. $225,000 C. $135,000 D.
3.1.10 Cash Budget The cash budget is “an estimation of the cash inflows and outflows for a business for a specific period of time. Cash budget are used to assess whether the entity has sufficient cash to fulfil regular operations and whether too much cash is being left in unproductive capacities”. (Reference 2) The cash budget is prepared in advance for the first 6 months, and a cash deficit of £20,364 and £2,228 were incurred in January and February. A second-hand bottling plant was purchased in January which cost £420,000. The business required £30,000 cash for working capital.
If the company’s opportunity cost is 15 percent, what is the present value of these cash flows? (Round to the nearest dollar.) • $480,906 • $429,560 • $414,322 • $477,235 20. Jack Robbins is saving for a new car. He needs to have $21,000 for the car in three years.
ACCT 323 Week 4 Homework Solutions https://hwguiders.com/downloads/acct-323-week-4-homework-solutions/ ACCT 323 Week 4 Homework Solutions 1) In the current tax year, Gunther earned $125,000 from his job as a civil engineer. In addition, he received $30,000 of income from Activity A, and lost $40,000, and 20,000 from Activities B and C respectively. Activities A, B, and C are passive activities that Gunther acquired in the current year. What amount of loss may Gunther deduct on his current year taxes with respect to each activity? What amount of loss, if any, must be carried over to the subsequent year for each activity?
We estimated how many customers we need to breakeven each year. Cash flow Projection for five years Cash Flow Analysis Year 1 Beginning Balance $0 Capital $10,000 Revenue (10 Clients) 59,700 $66,700 Disposables Purchases 49,700 Administrative $7,400 (Advertising 200, Other costs 200, Airlines 1,000, Office 6000) Wages $4,000 (2,000 each for Benny and Janet) $61,100 Ending Balance $5,600 Year 2 Beginning Balance $5,600 Revenue (15 Clients) $89,550 $93,150
Accounts Payable Home depot reported its January 31, 2010 accounts payable at $4,863,000 and on January 30, 2011 the same was reported the following fiscal year at $4,717,000. There is a loss of ($-146,000) which possibly indicates the repayment of construction loans, now that Home Depot now operates over 2,000 retail locations with 1,976 in the USA, 179 stores in Canada, 85 stores in Mexico and 8 stores in China. (Home Depot, 2011). Total Current Liabilities The total current liabilities for the home depot organization in January 31, 2010 was reported at $10,363,000 and the same was reported the following fiscal year on in January 30, 2011 at $10,122,000, once again there is a decrease from 2010 to 2011. Two Largest Current Liabilities
Amy paid the full amount of property tax of $2,500. Calculate both Paul and Amy’s allowable deductions for the property tax. Assume a 365 day year. Paul lived at the property for 90 days from January 1 to April 1, than Amy lived there for 275 days from April 2 to December 31. Paul is eligible for a deduction of $616 of the property tax (2500*365/90) = 616.43.
Eisenhower communications is trying to estimate the first-year net operating cash flow (at year 1) for a proposed project. The financial staff has collected the following information on the project: Sales revenue $10 million Operating costs (excluding depreciation) $ 7 million Depreciation $ 2 million Interest expense $ 2 million The company has a 40 percent tax rate, and its WACC is 10 percent a. What is the project’s operating cash flow for the first year? b. If this project would cannibalize other projects by $1 million of cash flow before taxes per year.
Accounting and legal fees $150,000 Advertising $125,000 Freight-out $65,000 Interest $80,000 Loss on sale of long-term investments $35,000 Officers’ salaries $200,000 Rent for office space $160,000 Sales salaries and commissions $110,000 One half of the rented premises are occupied by the sales department. How much of the expenses listed above should be included in Perry’s general and administrative expenses for 201X? (TCO C) An income statement shows “income before income taxes and extraordinary items” in the amount of $3,000,000. The income taxes payable for the year are $1,500,000, including $260,000 that is applicable to an extraordinary gain. Thus, what is the “income before extraordinary items”?