________ is an activity that provides financial and nonfinancial information to an organization's managers and other internal decision makers.
What will be an ideal response?
Managerial accounting
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Assume a corporation has 3,000 shares of $4 par common stock outstanding. The corporation declares a 28% stock dividend. At the time of declaration, the market value of their stock was $6 . What is the appropriate journal entry?
a. Debit Stock Dividends $5,040, credit Stock Dividends Distributable $5,040. b. Debit Stock Dividends $3,360, credit Stock Dividends Distributable $3,360. c. Debit Stock Dividends Distributable $3,360, debit Paid-in Capital in Excess of Par-Common Stock $1,680 and credit Stock Dividends $5,040. d. Debit Stock Dividends Distributable $3,360, credit Stock Dividends $3,360. e. Debit Stock Dividends $5,040, credit Stock Dividends Distributable $3,360 and credit Paid-in Capital in Excess of Par-Common Stock $1,680.
Demographic segmentation divides markets by
A. geographic location. B. consumer attitudes. C. characteristics such as loyalty and price sensitivity. D. characteristics such as age, gender, and income. E. psychological traits.
Amy Plisko is 23 years old and plans to retire in 32 years when she is 55 years old. Amy just graduated from a university in the West
Upon graduation, she took a job with a starting annual salary of $50,000. Amy asks you to answer the following two questions: 1. If her salary increases at a rate roughly equal to the U.S. long-run average annual rate of inflation over the past 80 years (about 3% per year), how large will her annual salary be in her last year before retirement? (Use 32 years.) 2. If her salary increases at a rate roughly equal to the U.S. long-run average annual rate of return on common stocks over the past 80 years (about 10.5% per year), how large will her annual salary be in her last year before retirement? (Use 32 years.) After hearing your answers, Amy says, "WOW! That's quite a difference." She decides that she would like an income of $500,000 per year each year in retirement, provided in equal annual end-of-the-year cash flows. These cash flows need to last for 40 years, and her investments would earn an annual rate of return of 7% during her retirement. Amy's final question to you is how much money must she save in equal annual end-of-the-year cash flows for the next 32 years to provide for her desired retirement, if her investments earn roughly the same rate of return as those earned by U.S. small stocks over the last 80 years (geometric average is about 12% per year). Use a calculator to determine the answers to the different parts of the problem. What will be an ideal response?
Dilly Farm Supply is located in a small town in the rural west. Data regarding the store's operations follow:•Sales are budgeted at $290,000 for November, $310,000 for December, and $210,000 for January. •Collections are expected to be 65% in the month of sale and 35% in the month following the sale. •The cost of goods sold is 80% of sales. •The company desires to have an ending merchandise inventory at the end of each month equal to 70% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase. •Other monthly expenses to be paid in cash are $21,100. •Monthly depreciation is $21,000. •Ignore taxes. Balance SheetOctober 31Assets Cash$25,000Accounts receivable 77,000Merchandise inventory 162,400Property, plant
and equipment, net of $624,000 accumulated depreciation 1,026,000Total assets$1,290,400 Liabilities and Stockholders' Equity Accounts payable$239,000Common stock 740,000Retained earnings 311,400Total liabilities and stockholders' equity$1,290,400?The cost of December merchandise purchases would be: A. $248,000 B. $117,600 C. $232,000 D. $192,000