Pitbull Construction Corporation applies IFRS, has equipment that it can reliably measure fair value of, and has chosen to apply the revaluation model to valuing this equipment on its accounting records. The carrying value of this equipment on Pitbull's books at the end of last year, December 31, 20X1, was $200,000. At the end of this year, December 31, 20X2, due to decreased demand for the equipment, especially when resold as used, the fair value is $150,000. For the year 20X2, in relation to this equipment for which Pitbull has chosen to apply the revaluation method, Pitbull must:_________

Answer and Explanation:

If there is decrease in fair value of an asset as is seen in the example with Pitbull corporation, we decrease asset revaluation reserve in the balance sheet by the value reduced $50000 here to recognise new carrying value of the asset and then debit the expenses of revaluation to the income statement or profit and loss account. If there was an increase in fair value, revaluation would add to retained earnings in balance sheet and income in income statement

Joni Metlock Inc. has the following amounts reported in its general ledger at the end of the current year.
Organization costs $22,300
Trademarks 12,700
Discount on bonds payable 35,300
Deposits with advertising
agency for ads to promote
goodwill of company 10,300
Excess of cost over fair
value of net identifiable
assets of acquired subsidiary 75,300
Cost of equipment acquired for
research and development projects;
the equipment has an alternative future use 85,300
Costs of developing a secret formula for a
product that is expected to be marketed for
at least 20 years 79,600
On the basis of this information, compute the total amount to be reported by Metlock for intangible assets on its balance sheet at year-end.

A real estate agent is considering changing her land line phone plan. There are three plans to choose from, all of which involve a monthly service charge of $20. Plan A has a cost of $.41 a minute for daytime calls and $.16 a minute for evening calls. Plan B has a charge of $.51 a minute for daytime calls and $.15 a minute for evening calls. Plan C has a flat rate of $80 with 300 minutes of calls allowed per month and a charge of $.38 per minute beyond that, day or evening.
a. Determine the total charge under each plan for this case: 120 minutes of day calls and 40 minutes of evening calls in a month. (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "$" sign in your response.)
Cost for Plan A $
Cost for Plan B $
Cost for Plan C $
b. If the agent will use the service for daytime calls, over what range of call minutes will each plan be optimal? (Round each answer to the nearest whole number.Include the indifference point itself in each answer.)
c. Suppose that the agent expects both daytime and evening calls. At what point (i.e., percentage of total call minutes used for daytime calls) would she be indifferent between plans A and B? (Do not round intermediate calculations. Enter your answer as a percentage rounded to 2 decimal places. Omit the "%" sign in your response.)

In 1993, Tamarisk Company completed the construction of a building at a cost of $2,320,000 and first occupied it in January 1994. It was estimated that the building will have a useful life of 40 years and a salvage value of $68,800 at the end of that time. Early in 2004, an addition to the building was constructed at a cost of $580,000. At that time, it was estimated that the remaining life of the building would be, as originally estimated, an additional 30 years, and that the addition would have a life of 30 years and a salvage value of $23,200. In 2022, it is determined that the probable life of the building and addition will extend to the end of 2053, or 20 years beyond the original estimate.

Required:
a. Using the straight-line method, compute the annual depreciation that would have been charged from 1994 through 2003.
b. Compute the annual depreciation that would have been charged from 2004 through 2022.
c. Prepare the entry, if necessary, to adjust the account balances because of the revision of the estimated.
d. Compute the annual depreciation to be charged, beginning with 2022.

Seiko’s current salary is $85,000. Her marginal tax rate is 32 percent and she fancies European sports cars. She purchases a new auto each year. Seiko is currently a manager for an Idaho Office Supply. Her friend, knowing of her interest in sports cars, tells her about a manager position at the local BMW and Porsche dealer. The new position pays only $75,000 per year, but it allows employees to purchase one new car per year at a discount of $15,000. This discount qualifies as a nontaxable fringe benefit. In an effort to keep Seiko as an employee, Idaho Office Supply offers her a $10,000 raise. Answer the following questions about this analysis.
Problem 12-41
Part a a. Assuming it has a 21 percent marginal tax rate, what is the annual after-tax cost to Idaho Office Supply to provide Seiko with the $10,000 increase in salary?

Ian loaned his friend $20,000 to start a new business. He considers this loan to be an investment, and therefore requires his friend to pay him an interest rate of 7% on the loan. He also expects his friend to pay back the loan over the next four years by making annual payments at the end of each year. Ian texted and asked that you help him calculate the annual payments that he should expect to receive so that he can recover his initial investment and earn the agreed-upon 7% on his investment.

Required:
Calculate the annual payment and complete the following capital recovery schedule:

Year Beginning Amount Payment Interest Paid Principal Paid Ending Balance

economics
Which of the following is LEAST likely to be a cause of long-term secular slowness in increases in U.S. labor productivity? (a) transition of the economy increasingly toward services and away from manufacturing; (b) falling levels of the capital to labor ratio; (c) deglobalization and the shift of production from places outside the U.S. to places within the U.S.; (d) tighter labor markets and the infusion of more and more workers with below-average skills.

We run a delivery service, and we believe our firm has market risk equally between that of UPS and FedEx. We know the following about these 2 firms:______.
Stock Price per share # shares outstanding Market Value of Debt
UPS $65 0.7 billion $ 5 billion
FedEx $55 250 million $ 3 billion
We also have the following data on the securities of these firms:_______.
Beta E Beta D
UPS 0.8 0
FedEx 1.1 0.1
Assume that our firm has risk-free debt with market value $20 million and equity with market value $450 million. Assume that taxes are not relevant. Please estimate our firm’s equity beta

4. If you enter your credit card information as a requirement for a "free trial" there is
a possibility you could be charged automatically after the trial period is up.
True
O
False
HELP ME

Potential Market – the set of consumers who profess some level of interest in a defined market offer Mass Market – the set of consumers who profess some level of interest in and have the requisite income to a defined market offer Available Market – the set of consumers with the interest, requisite income and access to a defined marketQualified Available Market – the set of consumers with the interest, requisite income, access and qualifications for a defined market offer offerHonda Ltd. of Japan is reviewing the motorcycle market of a Mid-Pacific island. A recent study revealed twenty percent (20%) of the island's 1,000,000 population exhibited an interest in owning a motorcycle. Of those interested, only fifty percent (50%) have the requisite income to purchase a Honda motorcycle. Three (3) Honda dealerships provide the island’s entire population with access to the defined market offer. However, twenty-five percent (25%) of the interested individuals with the requisite income and access to the defined market offer do not meet the island's minimum license age requirement of eighteen (18) years of age.Calculate the number, not percentage, of the people in each of the following levels of market definition. (Show calculations)a. Potential Marketb. Mass Marketc. Available Marketd. Qualified Available Market

It is important that marketers be able to identify which strategy a competitor is using so that they better understand how to position their own products and services. You will see a list of recent or potential strategic decisions made by large firms, and your job is to identify which type of strategy was used in each example.

While there are a variety of strategies across industries, most fall under four basic categories.

1. Market penetration strategies emphasize selling more existing products and services to existing customers.
2. Product development strategies involve creating new goods or services for existing markets.
3. Market development strategies focus on selling existing products or services to new customers. The targeted new customers could be a different gender, age group, or international market.
4. Finally, diversification strategies involve offering new products that are unrelated to the existing products produced by the organization.


Select the most appropriate category of emotional intelligence for below mention behaviors.

i. Arm and Hammer selling baking soda for new purposes.

a. Market penetration
b. Product development
c. Market development
d. Diversification

ii. Apple opening mini-stores within Target

a. Market penetration
b. Product development
c. Market development
d. Diversification

iii. Disney purchasing ESPN

a. Market penetration
b. Product development
c. Market development
d. Diversification

What is a good job people do you hear me

Question 5
1 pts
The optimal level of inflation is not zero
True
False

Champion manufactures winter fleece jackets for sale in the United States. Demand for jackets during the season is normally distributed, with a mean of 20,000 and a standard deviation of 10,000. Each jacket sells for $60 and costs $30 to produce. Any leftover jackets at the end of the season are sold for $25 at the year-end clearance sale. Holding jackets until the year-end sale adds another $5 to their cost. A recent recruit has suggested shipping leftover jackets to South America for sale in the winter there rather than running a clearance. Each jacket will fetch a price of $35 in South America, and all jackets sent there are likely to sell. Shipping costs add additional $5 to the cost of any jacket sold in South America, along with the $5 for holding jackets till the end of the season.

Required:
a. Would you recommend the South American option? Support your decision with calculations.
b. How will the South American option affect production and profitability at Champion?
c. On average, how many jackets will Champion ship to South America each season? (Note: you have already calculated this value in order to get the expected profit for the South American option.

What is a compound interest?

( Help please suck on this question !! )
Which of the following challenges will banks continue to tackle over the next few years?
A. Customer engagement
B. Increasing competitive advantage
C. Increasing service offerings
D. Lowering interest rates

Tom and Betsy, who are married filing jointly, reported a standard deduction of $24,000 on their 2018 tax return. They paid $500 to the state for income taxes in 2018. In 2019, they received a $125 refund of state taxes paid in 2018. What is the amount that Tom and Betsy need to report on their 2019 tax return?

During the first month of operations ended August 31, Kodiak Fridgeration Company manufactured 48,000 mini refrigerators, of which 44,000 were sold. Operating data for the month are summarized as follows:

1 Sales $8,800,000.00

2 Manufacturing costs:
3 Direct materials $3,360,000.00
4 Direct labor 1,344,000.00
5 Variable manufacturing cost 816,000.00
6 Fixed manufacturing cost 528,000.00 6,048,000.00 7

Selling and administrative expenses:
8 Variable $528,000.00
9 Fixed 352,000.00 880,000.00

Required:
a. Prepare an income statement based on the absorption costing concept.
b. Prepare an income statement based on the variable costing concept.
c. Explain the reason for the difference in the amount of income from operations reported in (1) and (2).

Way Cool produces two different models of air conditioners. The company produces the mechanical systems in their components department. The mechanical systems are combined with the housing assembly in its finishing department. The activities, costs, and drivers associated with these two manufacturing processes and the production support process follow.

Process Activity Overhead Cost Driver Quantity
Components   Changeover 458,000 Number of batches 810   
   Machining 307,000 Machine hours 7,650   
   Setups 232,000 Number of setups 160   

997,000

Finishing   Welding 188,000 Welding hours 4,100   
  Inspecting 231,000 Number of inspections 835   
  Rework 62,000 Rework orders 150   

481,000   

  Support   Purchasing 143,000 Purchase orders 525   
  Providing space 32,000 Number of units 5,020   
  Providing utilities 61,000 Number of units 5,020   

236,000

Additional production information concerning its two product lines follows.

Model 145 Model 212
Units produced 2,000 3,020
Welding hours 1,200 2,900
Batches 405 405
Number of inspections 465 370
Machine hours 2,350 5,300
Setups 80 80
Rework orders 100 50
Purchase orders 350 175


Required:
Determine departmental overhead rates and compute the overhead cost per unit for each product line.

Select the qualitative characteristics for the following statements.

a. Quality of information that permits users to identify similarities in and differences between two sets of economic phenomena. select a qualitative characteristic.
b. Having information available to users before it loses its capacity to influence decisions.
c. Information about an economic phenomenon that has value as an input to the processes used by capital providers to form their own expectations about the future.
d. Information that is capable of making a difference in the decisions of users in their capacity as capital providers.
e. Absence of bias intended to attain a predetermined result or to induce a particular behavior.

Three explorers are getting kidnapped by an evil tribe deep in the jungle, and their life now depends on their ability to correctly answer the following challenge the evil tribe's chief has for them. The explorers are tied to three trees facing each other and are presented with the chief's 5 wives: 3 brunettes, and 2 blondes. The three explorers are now blindfolded, and the chief picks three of his five wives to stand behind the trees the explorers are tied to, one behind each tree. The remaining two wives disappear from view. Then the blindfolds come off, and each explorer is able to see the two wives that are standing behind his two colleagues, but not the one behind himself. Each explorer now has up to 10 minutes time to think, after which each has to correctly answer what hair color the wife has that is standing behind him, or lose his life. When you, as one of the three explorers, gain your sight after the blindfold comes off, you see two brunettes standing behind your two colleagues. And now your life depends on figuring out who is behind you: a blonde or a brunette?

when pysical changes in materials happened, there is?

I. Formation of new product or material
II. No formation of new product or material
III. Formation of new shape
IV. Formation of new color

A. I, III and IV
B. II only
C. III and IV
D. II, III and IV

​

Waterway Beauty Corporation manufactures cosmetic products that are sold through a network of sales agents. The agents are paid a commission of 21% of sales. The income statement for the year ending December 31, 2020, is as follows.
WATERWAY BEAUTY CORPORATION
Income Statement
For the Year Ended December 31, 2020
Sales $79,000,000
Cost of goods sold
Variable $32,390,000
Fixed 8,750,000 41,140,000
Gross margin $37,860,000
Selling and marketing expenses
Commissions $16,590,000
Fixed costs 10,607,200 27,197,200
Operating income $10,662,800
The company is considering hiring its own sales staff to replace the network of agents. It will pay its salespeople a commission of 9% and incur additional fixed costs of $9,480,000.
A. Calculate the company’s break-even point in sales dollars for the year 2017 if it hires its own sales force to replace the network of agents.
B. Calculate the degree of operating leverage at sales of $78,800,000 if (1) Bonita Beauty uses sales agents, and (2) Bonita Beauty employs its own sales staff.
C. Calculate the estimated sales volume in sales dollars that would generate an identical net income for the year ending December 31, 2017, regardless of whether Bonita Beauty Corporation employs its own sales staff and pays them an 10% commission or continues to use the independent network of agents.

Presented below is information for Headland Company.

1. Beginning-of-the-year Accounts Receivable balance was $21,400.
2. Net sales (all on account) for the year were $105,300. Headland does not offer cash discounts.
3. Collections on accounts receivable during the year were $81,300.

Required:
Compute Headland’s accounts receivable turnover and days to collect receivables for the year.

Presented below is information from Headland Computers Incorporated.
July 1 Sold $22,600 of computers to Robertson Company with terms 3/15, n/60. Headland uses the gross method to record cash discounts. Headland estimates allowances of $1,334 will be honored on these sales.
10 Headland received payment from Robertson for the full amount owed from the July transactions.
17 Sold $256,100 in computers and peripherals to The Clark Store with terms of 2/10, n/30.
30 The Clark Store paid Headland for its purchase of July 17.

The stock of Static Corporation has a beta of 0.7. If the expected return on the market increases by 6%, the expected return on Static Corporation should increase by

Store A charges $20 per t-shirt. They're having a limited "buy 2, get one free"
promotion. You could buy similar t-shirts at Store B, where each shirt is $20 but you have
a coupon for $5 off every shirt. Give one good reason to buy from Store A and one
good reason to buy from Store B.

Juanita is deciding whether to buy a skirt that she wants, as well as where to buy it. Three stores carry the same skirt, but it is more convenient for Juanita to get to some stores than others. For example, she can go to her local store, located 15 minutes away from where she works, and pay a marked-up price of

Sheridan Company sells radios for $50 per unit. The fixed costs are $445000 and the variable costs are 60% of the selling price. As a result of new automated equipment, it is anticipated that fixed costs will increase by $65000 and variable costs will be 50% of the selling price. The new break-even point in units is:

Klean Fiber Company is the creator of Y-Go, a technology that weaves silver into its fabrics to kill bacteria and odor on clothing while managing heat. Y-Go has become very popular in undergarments for sports activities. Operating at capacity, the company can produce 1,031,000 Y-Go undergarments a year. The per unit and the total costs for an individual garment when the company operates at full capacity are as follows.

Per Undergarment Total
Direct materials $2.04 $2,103,240
Direct labor 0.40 412,400
Variable manufacturing overhead 1.04 1,072,240
Fixed manufacturing overhead 1.44 1,484,640
Variable selling expenses 0.34 350,540
Totals $5.26 $5,423,060


The U.S. Army has approached Klean Fiber and expressed an interest in purchasing 250,500 Y-Go undergarments for soldiers in extremely warm climates. The Army would pay the unit cost for direct materials, direct labor, and variable manufacturing overhead costs. In addition, the Army has agreed to pay an additional $1.02 per undergarment to cover all other costs and provide a profit. Presently, Klean Fiber is operating at 70% capacity and does not have any other potential buyers for Y-Go. If Klean Fiber accepts the Army's offer, it will not incur any variable selling expenses related to this order.

Required:
Prepare an incremental analysis for the Klean Fiber.

Connors Bros., a Maritime seafood products manufacturer, hopes to attract Ontario consumers for its Brunswick sardines through a campaign pushing the small fish as a positive food choice. In the campaign, Conner encouraged consumers to buy more sardines. If consumers purchased more sardines, then supermarkets would stock more sardines, thus creating _____ for the small fish.