campbells is a retail company specializing in men’s hats. Its budget director prepared the list of expected operating expenses that follows. All items are paid when incurred except sales commissions and utilities, which are paid in the month following their incurrence. July is the first month of operations, so there are no beginning account balances.
July August September
Salary expense $ 18,500 $ 18,500 $ 18,500 Sales commissions (4 percent of sales) 2,000 2,000 2,000 Supplies expense 270 300 330 Utilities 1,400 1,400 1,400 Depreciation on store equipment 2,100 2,100 2,100 Rent 7,100 7,100 7,100 Miscellaneous 770 770 770 Total S&A expenses before interest $ 342,140 $ 32,170 $ 32.200
a. Prepare a schedule of cash payments for selling and administrative expenses for July, August, September
Salary expense
Sales commission
Supplies expense
Utilities
Depreciation on store equipment
Rent
Miscellaneuos
Total payments for S&A expenses
b. Determine the amount of utilities payable as of September 30.
Utilities payable = ?
c. Determine the amount of sales commissions payable as of September 30.
Sales commissions payable = ?

Answers

Answer 1

a. To prepare a schedule of cash payments for selling and administrative expenses for July, August, and September, we need to consider the payment timing for each expense category.

July:
Salary expense: $18,500
Sales commission: $0 (paid in August)
Supplies expense: $270
Utilities: $0 (paid in August)
Depreciation on store equipment: $2,100
Rent: $7,100
Miscellaneous: $770
Total payments for S&A expenses: $28,740

August:
Salary expense: $18,500
Sales commission: $2,000 (July's sales commission)
Supplies expense: $300
Utilities: $1,400 (July's utilities)
Depreciation on store equipment: $2,100
Rent: $7,100
Miscellaneous: $770
Total payments for S&A expenses: $32,170

September:
Salary expense: $18,500
Sales commission: $2,000 (August's sales commission)
Supplies expense: $330
Utilities: $1,400 (August's utilities)
Depreciation on store equipment: $2,100
Rent: $7,100
Miscellaneous: $770
Total payments for S&A expenses: $32,200

b. To determine the number of utilities payable as of September 30, we need to consider the utility expense for September, which has not yet been paid.
Utilities payable = $1,400

c. To determine the amount of sales commissions payable as of September 30, we need to consider the sales commissions for September, which have not yet been paid.
Sales commissions payable = $2,000

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Related Questions

You will receive the largest monthly payment under an annuity contract when the annuity disbursement option is the ___________.

Answers

Answer:You will receive the largest monthly payment under an annuity contract when the annuity disbursement option is the "life-only" or "life annuity" option.

The life-only annuity option provides regular payments for the duration of your life, with no guaranteed minimum number of payments. This means that payments will continue as long as you are alive, but there is no provision for payments to be made to beneficiaries after your death. Since the payments are based solely on your life expectancy, the monthly payment amount tends to be higher compared to other options that provide additional features or guarantees.

It's important to note that choosing the life-only annuity option means accepting the risk of outliving your savings, as payments cease upon your death. Therefore, it's crucial to carefully consider your financial needs and circumstances when selecting the annuity disbursement option that best aligns with your goals and priorities.

Learn more about annuity disbursement options and consult with a financial advisor or annuity provider to make an informed decision based on your specific needs.

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You are planning to buy a stock that has just paid a dividend (D0) of $2. In addition, you anticipate the following growth rates:


Year 1 = 121%

Year 2 = 60%

Year 3 = -13%

Year 4 = 0%

Year 5 = 18%

Years 6 through infinity = 5%

Assume a discount rate of 15%. Based on this, what is the value of the stock today? (Round all dividend and price calculations to the nearest cent).

Answers

The value of the stock today is $46.16.You are planning to buy a stock that has just paid a dividend (D0) of $2.

to calculate the value of the stock today, we need to use the dividend discount model, which is given as:

p0 = d1 / (1+r) + d2 / (1+r)² + ... + dn / (1+r)ⁿ + pn / (1+r)ⁿ

where p0 is the stock price today, d1 is the dividend in year 1, r is the discount rate, n is the number of years, and pn is the stock price in year n.

using the given information, we can calculate the dividends for each year as follows:

d0 = $2d1 = d0 x (1 + 121%) = $4.42

d2 = d1 x (1 + 60%) = $7.07d3 = d2 x (1 - 13%) = $6.14

d4 = d3 x (1 + 0%) = $6.14d5 = d4 x (1 + 18%) = $7.25

d6 = d5 x (1 + 5%) = $7.61d7 = d6 x (1 + 5%) = $7.99

d8 = d7 x (1 + 5%) = $8.39d9 = d8 x (1 + 5%) = $8.81

and so on...

to find the stock price today, we need to discount each dividend back to the present using the discount rate of 15%. we can use the formula above to calculate the present value of each dividend, and then add them up to get the total stock price.

p0 = $4.42 / (1+15%) + $7.07 / (1+15%)² + $6.14 / (1+15%)³ + $6.14 / (1+15%)⁴ + $7.25 / (1+15%)⁵ + $7.61 / (1+15%)⁶ + $7.99 / (1+15%)⁷ + $8.39 / (1+15%)⁸ + $8.81 / (1+15%)⁹ + ...

to save time, we can use a financial calculator or spreadsheet software to calculate the present value of each dividend. using a financial calculator, we get:

p0 = $46.16

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Q2. Perform a financial analysis for a project using the format provided in Book (Figure 4-5).(page 164) Assume that the projected costs and benefits for this project are spread over four years as fol

Answers

To perform a financial analysis for a project, the financial costs and benefits must be determined. The format provided in Book (Figure 4-5) page 164 is used for this purpose.The financial analysis is used to evaluate a project's viability, which requires examining the project's costs and benefits.

The costs are subtracted from the benefits to determine the net benefit or cash flow. If the net benefit is positive, the project is likely to be profitable, whereas if it is negative, the project may not be profitable.The financial analysis for a project using the format provided in Book (Figure 4-5) page 164 is done as follows:

Step 1: Determine the present value of the initial investment.The initial investment refers to the amount of money required to start the project. It is essential to determine its present value since its payment is often made at the beginning of the project. The present value of the initial investment is the current value of future cash flows discounted at a specified rate of return.

Step 2: Determine the present value of the project's cash inflows.The present value of the cash inflows is the sum of the discounted future cash flows resulting from the project. These cash inflows must be discounted to reflect their current value.

Step 3: Determine the present value of the project's cash outflows.The present value of the cash outflows is the sum of the discounted future cash outflows resulting from the project. These cash outflows must be discounted to reflect their current value.

Step 4: Determine the net present value of the project.The net present value (NPV) of a project is calculated by subtracting the present value of the project's cash outflows from the present value of its cash inflows. If the NPV is positive, the project is expected to be profitable. If it is negative, the project is expected to be unprofitable.

Step 5: Calculate the project's internal rate of return.The internal rate of return (IRR) is the discount rate that equates the present value of the project's cash inflows with the present value of its cash outflows. It is a measure of the project's expected rate of return. If the IRR is greater than the project's required rate of return, the project is expected to be profitable. If it is less than the project's required rate of return, the project is expected to be unprofitable.

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Complete the sentence describing a type of tax charged by the US government.
The government charges
(what) on public services.

Answers

Taxes are compulsory payments made by a government organization, either local, regional, or federal, to people or businesses. Government operations are supported by tax money.

In what form does the American tax system exist?

The United States has a progressive taxation system as a whole. A progressive tax system is one in which the amount of income that a person (or family) must pay in taxes tends to rise as income does.

What endows the US government with the authority to levies taxes?

The Committee shall have the authority to levy and collect the taxes, duties, imposts, and excises in order to pay for the nation's debts, common defense, and general welfare; however, all duties, imposts, and excises must be uniform across the whole country.

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which of the following challenges facing hr is related to technology becoming more prevalent in many previously unskilled environments? a. shifts in industries/retraining b. baby boomer retirements c. decreased employee loyalty d. differing benefits preferences

Answers

A. Shifts in industries/retraining is the challenge related to technology becoming more prevalent in many previously unskilled environments.

As technology advances, many unskilled jobs are becoming automated, so employees must be retrained in order to remain employable. This can be a daunting and expensive task for employers, as it may require significant investments in employee training and development for certain industries. Additionally, some employers may have difficulty finding qualified workers to replace those who are retiring or being made redundant due to automation.

This creates a wide range of challenges for human resources departments. They must decide how to best allocate resources towards retraining, and find the most cost effective ways to do so. Companies may need to consider new sources of labour, such as contract workers or offshore staff, in order to remain competitive and meet staffing requirements. Additionally, they must ensure compliance with relevant legislation and regulations, while providing a safe and equitable working environment. Furthermore, they must also consider how to ensure that their retraining initiatives are both effective and cost-efficient. HR departments will also need to ensure a smooth transition for those employees who are being retrained, as well as for those who are entering the workforce for the first time.

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The difficulty associated with technology becoming more prevalent in many previously unskilled environments is shifting in industries and retraining. In this case, option A is correct

Many low-skilled jobs are becoming automated as a result of technological advancements, so workers must retrain in order to stay employable. Due to the potential need for significant investments in employee training and development for some industries, this can be a challenging and costly task for employers. Additionally, some employers might have trouble replacing those who are retiring or losing their jobs as a result of automation with qualified workers.For human resources departments, this poses a variety of difficulties. They must choose how to best allocate funds for retraining and identify the most economical strategies for doing so. Companies might need to think about new labor sources.

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If average daily remittances are $6 million, and "extended disbursement float" adds two days to the disbursement schedule, how much should the firm be willing to pay for a cash management system if the firm earns 7% on excess funds

Answers

Answer:

$840,000

Explanation:

Calculation of how much should the firm be willing to pay for a cash management system

Using this formula

Annual return from cash management system = Average daily remittances × 2 days disbursement schedule× Percentage of excess funds

Let plug in the formula

Annual return from cash management system$6,000,000 × 2 days × 7%

Annual return from cash management system= $840,000

Therefore the firm be willing to pay the amount of $840,000 for thebcash management system if the firm earns 7% on excess funds.

what will happen to trade if business is flourishing?​

Answers

Answer:

if the business is florishing, as an example Medical sectors during pandemic they are going to grow till they are in a high demand

which of the following is true of crashing a project? a. it involves the removal of resources from selected project activities to reduce costs. b. it increases the total cost of the project. c. it increases the total time taken to complete the project. d. it is a trade-off between project revenue and additional input costs.

Answers

The option that is true regarding a crashing of the project, it is a trade-off between project revenue and additional input costs. Thus, option D is correct.

What is a project?

A project is any individual or team activity, maybe incorporating research or design, that is deliberately planned to attain a certain aim.

A project may alternatively be described as a collection of inputs and outputs necessary to achieve a certain aim. Projects can be simple or complicated, and they can be handled by one or a hundred people.

The alternative that is true in terms of project crashing is a trade-off between project income and higher input expenses. As a result, option D is correct.

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Jason’s credit card has an APR of 17. 02% and a 30-day billling cycle. The following table details Jason’s transactions with that card in the month of June. Date Amount ($) Transaction 6/1 746. 28 Beginning balance 6/9 140. 00 Payment 6/15 28. 76 Payment 6/18 69. 49 Purchase Between the adjusted balance method and the daily balance method, which method of computing Jason’s June finance charge will result in a greater finance charge, and how much greater will it be? a. The daily balance method will have a finance charge $1. 02 greater than the adjusted balance method. B. The daily balance method will have a finance charge $0. 03 greater than the adjusted balance method. C. The adjusted balance method will have a finance charge $2. 36 greater than the daily balance method. D. The adjusted balance method will have a finance charge $1. 37 greater than the daily balance method.

Answers

D. The adjusted balance method will have a finance charge $1.37 greater than the daily balance method.

The adjusted balance method calculates the finance charge based on the balance at the beginning of the billing cycle after adjusting for payments and returns. In this case, the adjusted balance at the beginning of June would be $746.28.

On the other hand, the daily balance method takes into account the daily balances throughout the billing cycle. It considers the effect of each transaction on the balance each day. Since Jason made a payment of $140.00 on June 9th and another payment of $28.76 on June 15th, the daily balance method will reflect lower balances for those days.

Given that the adjusted balance method starts with a higher balance, it will result in a greater finance charge compared to the daily balance method. The exact difference is $1.37, as stated in option D.

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what is the meaning of market variable in maketing​

Answers

Answer:

market is for people low budget and the markering is people qho want earn money in online

John buys a used car for $5,400 and spends $600 on new parts, made in the U.S., to fix the car. The end result of these two transactions isa. U.S. consumption purchases increase by $5,400 and U.S. GDP increases by $5,400.b. U.S. consumption purchases increase by $6,000 and U.S. GDP increases by $6,000.c. U.S. consumption purchases increase by $600 and U.S. GDP increases by $600.d. U.S. consumption purchases increase by $600 and U.S. GDP increases by $6,000.

Answers

Answer:

C

Explanation:

Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year

GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export

Net export = exports – imports

When exports exceed import there is a trade deficit and when import exceeds import, there is a trade surplus.  

Items not included in the calculation off GDP includes:  

1. services not rendered to oneself

2. Activities not reported to the government  

3. illegal activities

4. sale or purchase of used products

5. sale or purchase of intermediate products

As a producer, you are willing to supply the most goods at the highest price. This is because the highest
price earns you the

most demand
highest costs
most profits

Answers

Answer: most profits

Explanation:

The answer is C. The most profit

What is the difference between gross pay and net pay?

Answers

Answer:

Net pay describes your pay after deductions; gross pay is before.

Explanation:

everyone here is a pleb

Answers

Noooo




Step by step explanation:

Answer:

no no no no no no no no no no no                                                                                            

Harper has shown promise, and her manager has suggested that she be paired up with another experienced professional for faster skill development.
What coaching method does the manager use in Harper’s case?
is the training technique that Harper’s manager is using. In this technique, Harper will work with an experienced and already trained employee to develop her skills faster.

Answers

Answer:

i’m pretty sure it’s mentoring

Explanation:

plato

Answer:

Shadowing answer on plato

Explanation:

The elements of products that may be changed to meet customer needs are features, usage, and _______. a. qualityb.promotionc.protectiond.production

Answers

The elements of products that may be changed to meet customer needs are features, usage, and C. protection. It is because the market taste is change in the periodic time based on their necessary.

In the term of economic market and also business, The changes in consumer taste generally can be defined as an increase in e-commerce as well as more demand for sustainable and inclusive products. The change in the economic market is the impact of the emergence of Gen-Z who cares more about the environment and social issues, businesses with a vision aligned with them will benefit greatly. The change in the watch market is significant because the market tastes will continue to change, whether by changing in the features, usage, or also protection.

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If the exchange rate​ rises, then the quantity of dollars demanded​ ________ because with the higher u. S. Exchange​ rate, u. S. Exports​ ________.

Answers

If the exchange rate rises, the quantity of dollars required decreases along the demand curve for dollars.

Demand curve for dollars

The demand curve for dollars illustrates the relationship between the amount of dollars and the exchange rate between pesos and dollars. It descends downward because Mexicans demand more dollars as the price descents. A fall in price signifies that the dollar is devaluating in value relative to the peso.

The demand curve for the foreign exchange is shown in where the pace of foreign exchange and the quantity of foreign exchange required have been shown on the Y axis and X axis respectively.

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what are the features of business environment​s?

Answers

Explanation:

All the external forces: Business Environment includes all the forces, institutions and factors which directly or indirectly affect the Business Organizations.

Specific and general forces: ...

Inter-relation: ...

Uncertainty: ...

Dynamic: ...

Complex: ...

Relativity:

1. All the external forces: Business Environment includes all the forces, institutions and factors which directly or indirectly affect the Business Organizations.

2. Specific and general forces: Business environment includes specific forces such as investors, customers, competitors and suppliers. Non-human or general forces are Social, Legal, Technological, Political, etc. which affect the Business indirectly.

(Sorry only got two, hope this is okay!)

would you recommend that urban farmz use promotional pricing at the farmers’ markets where it regularly sells its products? if so, which techniques would you suggest, and why?

Answers

Yes, I would recommend that Urban Farmz use promotional pricing at the farmers' markets where it regularly sells its products. Promotional pricing is an effective way to attract new customers and increase sales. It can also help to differentiate the brand from competitors and create a sense of urgency to buy.

What are thenpromotional pricing techniques that Urban Farmz

Some promotional pricing techniques that Urban Farmz could use include:

1. Bundling: Offering discounts when customers purchase multiple products together. For example, Urban Farmz could offer a discount when customers buy a combination of vegetables and herbs.

2. Limited time offers: Creating a sense of urgency by offering discounts for a limited time only. This can encourage customers to make a purchase quickly, rather than waiting and potentially forgetting about the product.

3. Volume discounts: Offering discounts for larger purchases. For example, Urban Farmz could offer a discount for customers who buy a certain amount of produce in a single transaction.

4. Seasonal discounts: Offering discounts on products that are in season or abundant. This can help to increase sales of products that may not be as popular during other times of the year.

Overall, promotional pricing can be a valuable tool for Urban Farmz to increase sales and attract new customers at farmers' markets. By using a combination of techniques, they can create a sense of urgency, encourage larger purchases, and differentiate themselves from competitors.

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For applying the equity method, we assess whether the
investor company enjoys significant influence over the investee
company or not . Access the FASB Codification and describe what the
guidance of FASB?

Answers

According to the search results, FASB provides guidance on how to determine whether an investor company has significant influence over an investee company in order to apply the equity method. Accounting Standards Codification (ASC) 323-10-15 provides guidance on this matter.

ASC 323-10-15 explains that an investor company should use judgment to determine whether it has the ability to exercise significant influence over the investee company. The guidance includes factors that should be considered in making this determination, such as the investor company's representation on the investee company's board of directors, the investor company's participation in the investee company's policy-making process and the extent of intercompany transactions.

Once significant influence is determined to exist, the investor company should use the equity method to account for its investment in the investee company. The equity method requires the investor company to recognize its share of the investee company's net income or losses in the investor company's income statement, and to adjust the carrying amount of the investment for the investor company's share of the investee company's changes in equity.

It is important to note that the guidance provided in ASC 323-10-15 is not exhaustive, and that judgment needs to be exercised in each specific case to determine if the investor company has significant influence over the investee company.

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Name and explain the four main functions of managing a successful business.

Answers

Answer:

Integrity, Persistence, Focus, and inspiration.

Explanation:

Before I go on to explain to you why I believe these are the four main personal functions and understanding for managing a successful business I have to tell you this is my opinion and I believe that you will gain much more knowledge on this question if you continue to ask and talk to people on the functions of managing a successful business.

Integrity. Having integrity is an important skill in life and the business world. You have to have a lot of self control and have the strong integrity to be able to handle the losses and wins of your business. There are people who are much harder to work with after a loss in their business and they cannot think as rationally as they could be thinking without that loss. If you have the proper integrity you would think of that loss as a new challenge that you have to get through and power over, you would learn from your mistake and try to solve it and stay strong through it, there is no option for success if you don't have integrity.

Persistence. You need to have persistence to lead a business and have the motivation for success. With persistence to succeed you are willing to do what you need to do and more to make it. A common trait of successful business men and women is persistence and knowing what they need to do to make it in the business world. There are countless motivational speakers that teach aspiring entrepreneurs. When your peers are out partying on the weekends you have to be on the top of your game, that is the difference of winners and losers. You are willing to work and put in the hours for your passion you will one day be able to go out and do what you want with the people you want because you worked when others partied. There is a difference with comparing yourself to others in the world but in the business world you must compare your business and the ethics and what you are doing that you could do better.

Focus. Focus is a skill inside and outside of the business world. Like integrity with focus you have an important skill that other competitors may not have. You are able to focus and analyze the competition, what you are doing right and wrong and taking the time and focus to understand what to do. As an entrepreneur you may want to take days where you focus and read in on the market and it will benefit you greatly.

Inspiration. Inspiration can lead you to do better, when you are inspired to do great and you find the purpose to succeed you will realize why you want to start a business. You will understand how hard it will be and the endless nights of working, you may be working 100 hour weeks. But when you find the inspiration and your purpose you will succeed.

The Fairmont Hotels chain of hotels and resorts has a practice of inputting information about a guest's preferences into a database, which is referred to by the employees the next time the guest returns to the hotel. Philip, who is a regular customer of Fairmont Banff Spring. He On arrival, he gets out of the cab, enters the hotel, goes to the guest desk, and talks to the guest executive about his room. These customer interactions are referred to as _____.

Answers

Answer:

Touch points

Explanation:

Touch points of a business are the points at which there are contact with the customer in the course of a business providing service to the customer.

For example a customer may encounter a business brand on its website, through add, or calls to its customer service.

In the given scenario Fairmont Hotels inputs information about a guest's preferences into a database, which is referred to by the employees the next time the guest returns to the hotel.

This is a record of touch points with customer to guage how to give him better service in the future

Why is it important to have communication in a job ?

Answers

Answer:

Good communication can boost teamwork and lead to better project collaboration.

Answer:

- Good communication can boost teamwork and lead to better project collaboration. It applies to practically every industry.

- Workplace communication is important for streamlining internal communication. Maintaining effective communication ensures that management and the team below them are on the same page

- It disseminates the information needed by employees to get things done and builds relationships of trust and commitment.

- Workplace communication is vital to an organization's ability to be productive and operate smoothly.

- Workplace communication improves worker productivity.

I hope my answer helps you.

An architect’s functions may include which of the following? (SELECT ALL THAT APPLY.)

-planning and designing houses, commercial buildings, and other structures
-ensuring worksite safety
-collaborating with engineers
-acting as a construction manager and supervising contractors

Answers

The answer is a b and d

Answer:

the answer is planning, ensuring, and acting

1. Describe what is meant by wealth?
2. What is wealth and how do you think it relates to budgeting?
3. Identify a wealthy person; a.what makes this person wealthy?
b.How did they earn their wealth?

Answers

Answer:

All the answers of the asked question are discussed below in detailed explanation.

Explanation:

Wealth includes the evaluation of all the items of merit occupied by an Individual, society, corporation, or nation. ... Fundamentally, wealth is the collection of limited resources. Particular people, corporations, and countries are assumed to be wealthy when they are able to acquire many necessary resources or goods.

Within the communication process, decoding can best be described as ______.

Answers

In the communication process, decoding can best be described as the process of interpreting or understanding the message that has been received.

Decoding is an essential component of the communication process. The message that is encoded by the sender must be appropriately received and understood by the recipient. The success of the communication process relies heavily on the decoding process. It is vital to note that the decoding process is not always accurate, and several factors can influence it. These factors may include the sender's use of language, the context of the message, the recipient's background and experience, and the recipient's mood or emotional state. All these factors can affect how the message is decoded and, therefore, affect the effectiveness of the communication process.

The communication process involves several steps that include encoding, decoding, feedback, noise, and the medium. Encoding is the process of creating the message, while decoding is the process of interpreting or understanding the message. Feedback is the response that is sent by the recipient, while noise refers to any interference that can disrupt the message's flow. The medium refers to the channel that is used to transmit the message.

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The manufacturing overhead account is debited when ______.

Answers

Production process involves different type of cost and expenses, manufacturing overhead account is one and it is debited when overhead applied is less than the actual overhead costs incurred.

What is manufacturing overhead cost?

It is the sum of all the indirect costs that were spent while manufacturing a product.

The amount in the manufacturing overhead account can either be a debit or credit.

It is a debit when the overhead is less than the actual overhead costs that were spent.

Therefore, The manufacturing overhead account is debited when the overhead applied is less than the actual overhead costs incurred.

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What are the two dimensions in the DEA strategic matrix? a. Efficiency and profit b. Efficiency and quality c. Profit and quality d. Profit and location.

Answers

The two dimensions in the DEA strategic matrix are efficiency and quality. Efficiency refers to the ability of an organization to utilize its resources effectively to achieve maximum output with minimum input. The Correct answer is option A



In the DEA strategic matrix, organizations are positioned based on their performance in these two dimensions. Those that score high in both efficiency and quality are positioned in the upper right quadrant of the matrix, indicating that they are both efficient and effective in delivering high-quality products or services.



Organizations that score high in efficiency but low in quality are positioned in the lower right quadrant, indicating that they are efficient but may not meet customer expectations in terms of quality. Similarly, organizations that score high in quality but low in efficiency are positioned in the upper left quadrant, indicating that they deliver high-quality products or services but may not be utilizing their resources efficiently.



Finally, organizations that score low in both efficiency and quality are positioned in the lower left quadrant, indicating that they have significant room for improvement in both dimensions. The DEA strategic matrix is a useful tool for organizations to evaluate their performance and identify areas for improvement in terms of efficiency and quality. The Correct answer is option A

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Emil Corp. produces and sells wind-energy-driven engines. To finance its operations, Emil Corp. issued $15,000,000 of 20-year, 9% callable bonds on May 1, 20Y1, at their face amount, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year.

Answers

Answer and Explanation:

The Journal entry is shown below:-

1. Cash Dr, $15,000,000

      To Bonds payable $15,000,000

(Being issue of bonds is recorded)

2. Interest expense on bonds Dr, $675,000

        To cash $675,000 ($15,000,000 × 9% × 6 ÷ 12)

(Being payment of interest is recorded)

3. Bonds payable Dr, $15,000,000

       To Gain on redemption of bonds $600,000

       To Cash ($15,000,000 × 0.96) $14,400,000

(Being redemption on bonds is recorded)

Emil Corp. produces and sells wind-energy-driven engines. To finance its operations, Emil Corp. issued

Case Study #1
Dan is a 40 year-old with Spina-Bifida and inability to walk. He uses a wheelchair for mobility. He is unable to transfer from his chair and requires personal assistance for dressing, using the toilet and transferring from his chair. He has attempted to work several times, but has not held jobs due to a number of factors- transportation, time demands for dressing, eating and being transported to work. He currently is in a volunteer job with the sheriff's office doing routine filing and other clerical tasks. He has average intelligence, but lacks confidence due to low self-esteem, which has been reinforced, by his lack of success in employment.
1. Is he eligible for DVR services?
2. Is he eligible for Supported Employment?
3. Develop an outline for an IPE to address Dan's employment related needs.
4. List the extended ongoing support services he will need to maintain employment.

Answers

1. Is he eligible for DVR services?

Yes, Dan is eligible for DVR services. DVR stands for Disability and Rehabilitation Services. It is a federal program that provides employment-related services to people with disabilities. Dan's disability, Spina Bifida, would qualify him for DVR services.

2. Is he eligible for Supported Employment?

Yes, Dan is eligible for Supported Employment. Supported Employment is a type of DVR service that provides ongoing support to people with disabilities who are trying to find and keep jobs. Dan's need for personal assistance and transportation would make him a good candidate for Supported Employment.

3. Develop an outline for an IPE to address Dan's employment related needs.

An IPE is an Individualized Plan for Employment. It is a document that outlines the employment-related goals and services that a person with a disability will receive. An IPE for Dan would include the following:

Goals: The IPE would identify Dan's employment goals, such as finding a job, getting promoted, or starting his own business.

Services: The IPE would list the services that Dan would need to achieve his goals, such as job training, job placement, or transportation assistance.

Timeline: The IPE would set a timeline for achieving Dan's goals.

Evaluation: The IPE would include a plan for evaluating Dan's progress and making adjustments to the plan as needed.

4. List the extended ongoing support services he will need to maintain employment.

The extended ongoing support services that Dan will need to maintain employment include:

Personal assistance: Dan will need personal assistance to help him with dressing, using the toilet, and transferring from his chair.

Transportation: Dan will need transportation to and from work.

Flexible work schedule: Dan may need a flexible work schedule to accommodate his personal assistance needs.

Ongoing training: Dan may need ongoing training to keep his skills up-to-date.

Support from his employer: Dan will need support from his employer to be successful in his job. This may include providing him with a workspace that is accessible to his wheelchair and making sure that his co-workers are aware of his disability.

Learn more about support services for individuals with disabilities in the workplace here:

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