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In its first year of operations, roma co. earned $45,000 in revenues and received $37,000 cash from these customers. the company incurred expenses of $25,500 but had not paid $5,250 of them at year-end. the company also prepaid $6,750 cash for costs that will not be expensed until the next year. calculate the first year's net income under both the cash basis and the accrual basis of accounting.
Suppose the current spot rate for the Norwegian kroner is $1 = NKr6.6869. The expected inflation rate in Norway is 6 percent and in the U.S. it is 3.1 percent. A risk-free asset in the U.S. is yielding 4 percent. What risk-free rate of return should you expect on a Norwegian security? A.4.5 percent B.4.0 percent C. 6.9 percent D. 5.0 percent E. 3.5 percent
The subjective approach to project analysis: a. Is used regardless of whether a firm has an all-equity capital structure or not. b. Does not use Firm X's WACC as the basis for the discount rate of Firm Y's projects. c. Assigns discount rates to projects at the discretion of senior management. d. Does not allow managers to arbitrarily adjust the discount rate after determining the project's beta. e. Does not necessarily apply a lower discount rate to equity-financed projects compared to those with partial debt financing.
During the current year, the Jules Company incurred the following product costs:Direct materials used in production $250, 00. Direct labor $185, 000. Manufacturing overhead $245, 500. The Jules Company's beginning Work in Process Inventory was $20,000 and its ending Work in Process Inventory amounted to $30,000. What is the company's cost of finished goods manufactured for the year? A) $700,500. B) $690,500. C) $430,500. D) $670,500
The primary goal of the consumer financial protection bureau is everfi answer
Which account offers the most liquidity? a. Certificate of deposit b. Checking account c. Money market account d. Savings account
Farmer and Taylor formed a partnership with capital contributions of $250,000 and $300,000, respectively. Their partnership agreement stipulates that Farmer will receive an annual salary of $80,000. Any remaining income or loss will be divided equally. Assuming the net income for the current year is $195,000, the journal entry to allocate net income would be as follows:
Why is zero unemployment and zero inflation not ideal for the economy
A decision tree algorithm works by splitting a dataset in order to build a model that successfully classifies each record in terms of a target field or variable. True / False.
On July 1 of the current year, Marcia purchases a new home and borrows $320,000. Marcia is required to pay two points on the loan. The loan is secured by the residence and the charging of points is an established business practice in the area. The term of the loan is 20 years, beginning on July 1 of the current year. How much, if any, of the points may Marcia deduct in the current year?a. $0 b. $160 c. $3,200 d. $6,400
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