Emmons Lawn Maintenance (ELM) provides lawn and garden care for residential properties. In the current year, ELM maintains 87 properties and earns an average of $7,400 annually for each property. The owner of ELM is planning for the coming year. New building in the area is expected to increase volume by 32 percent. In addition, the owner estimates that the number of homeowners that will want ELM's service will increase by 22 percent. ELM plans to increase the price of service by 18.5 percent to cover expected increased wage and equipment costs. Required: Estimate revenues for Emmons Lawn Maintenance for the coming year. Note: Enter your answer rounded to the nearest whole dollar. Revenues
Q: Tilson Corporation has projected sales and production in units for the second quarter of the coming…
A: The cash disbursement schedule is prepared to estimate the cash payments during the period. The cash…
Q: Suds & Cuts is a local pet grooming shop owned by Collin Bark. Collin has prepared the following…
A: Variance analysis is one of the technique being used in management accounting. Under this, standard…
Q: Which of the following would not be characterized as a cost object? Multiple Choice A vehicle…
A: Answer:- Cost object meaning:- An item to which expenses are attributed is referred to as a cost…
Q: The Allowance for Doubtful Accounts account is a contra-account that offsets: Multiple Choice Bad…
A: Doubtful accounts are those accounts receivables from whom there is doubt on collection of due…
Q: Saunderstown Company reported the following pretax data for its first year of operations. $ 2,950 $…
A: Gross profit is the measure which is used to determine the profitability of the entity. It is…
Q: Standard Direct Materials Cost per Unit Truly Delicious Inc. produces chocolate bars. The primary…
A: The standard cost represents the budgeted cost. The standard cost and actual cost are different. The…
Q: rows $17,250, at 7.5% interest, for 320 days. If th
A: Amount borrowed = $17,250 Interest rate = 7.5% Time = 320 days Interest amount = ?
Q: Vehicles 20% on diminishing balance method/reducing balance. b. Furniture 10% Straight Line method.…
A: A financial document known as a statement of comprehensive income lists a company's revenues, costs,…
Q: Feb. 3. Sept 10 Sold merchandise on account to Dr J Hat $15.160. The cost of the merchandise sold…
A: Journal entries means the primary reporting of the transactions in the books of accounts. These are…
Q: Bramell Park is an amusement park with an entrance fee that allows unlimited rides. Last year, the…
A: Estimated revenue is the revenue that an entity expects to earn at a future date. It is estimated in…
Q: The financial statements of Pouchle Co. Included the following Information for the year ended…
A: A cash flow financial statement is a statement that details the cash inflows that a business…
Q: Anderson Steel Company began 2021 with 500,000 shares of common stock outstanding. On March 31,…
A: Earnings per share refer to the proportion of profit to be earned by each shareholder of the…
Q: Raw materials purchased and used—$3,070. Wages of production workers—$3,550. Salaries of…
A: Particular Amount Raw materials purchased and used $3,070 Wages of production workers $3,550…
Q: 1. Mann, Haney and Young are partners. Haney, who has a capital balance of $140 000, has decided to…
A: A partnership is a form of business, where two or more individuals form together for making profit…
Q: Exercise 12-41 (Algo) Alternative Allocation Bases (LO 12-5) Dill Shipyards operates a dry dock on…
A: Total costs is the combination of variable costs and fixed costs. Variable costs are costs that…
Q: Expected Production 3,500 700 Expected Sa 2,800
A: Budgeted production for August 3500 Direct material per unit 18 Direct material needed for…
Q: The contribution margin ratio of the Parts Department of Buffalo Valley Repair is 40 percent.…
A: Variable costs are costs that varies with the change in the level of output whereas fixed costs are…
Q: Part 1 is incorrect. Could you try the problem ag
A: Profitability index is a financial tool which tells us whether an investment should be accepted or…
Q: 9:17 Problem Set: Module 2 1. EX.03.06 ALGO 2 EX.02.13.BLANKSHEET.ALGO 3. TMM 02.03 17 4. EX 02 11…
A: Overheads means all type of indirect costs and expenses being incurred for production and…
Q: Sales and purchase-related transactions for seller and buyer using perpetual inventory system The…
A: Journal Entry :— It is an act of recording transaction in books of account when transaction…
Q: Print Item Break-even analysis Media outlets such as ESPN and FOX Sports often have websites that…
A: There are two type of costs being incurred in business. One is fixed costs and other is variable…
Q: Prepare the journal entry on the books of the partnership to record the admission of Lars as a new…
A: In a partnership type of business two or more persons come together and forms a business entity. All…
Q: Planet Ltd produces fridges and freezers, which are sold to retailers. The financial statements for…
A: Hi student Since there are multiple subparts, we will answer only first three subparts. Ratio…
Q: Leno Company makes swimsuits and sells these suits directly to retailers. Although Leno has a…
A: Under cost plus pricing method: Markup pricing is another name for cost-plus pricing. This pricing…
Q: Home Hardware paid $125 for a particular type of drill. Expenses are 11% of selling price and the…
A: Break-even sales refer to the level of sales at which a business's revenue equals its total costs.…
Q: Ford Corporation paid $10,200,000 for a 47% interest in Allen Corporation on January 1, 20X1 when…
A: When a company acquires more than 20% but less than 50% in the voting stock of another company, the…
Q: The Chocolate Factory is well known for their famous Chocolate Cakes. The cakes are made by putting…
A: A process costing is particularly applicable where the final product passes through several…
Q: i need details explanatio
A: Under FIFO method, unit purchase first, sold first. Cost of goods sold means we need calculate cost…
Q: Question 24 Senior Company has two products, Alpha and Beta, which emerge from a joint process with…
A: Joint costs are those costs which are incurred simultaneously for more than one product. These costs…
Q: A business operated at 100% of capacity during its first month and incurred the following costs:…
A: To calculate the ending inventory under variable costing, we need to determine the total variable…
Q: Determine the company’s pension expense for the current year. Prepare the journal entries to record…
A: Journal entry is the first stage of accounting process. Journal entry used to record business…
Q: Shawn Bixby borrowed $25,000 on a 120-day, 15% note. After 60 days, Shawn paid $2,800 on the note.…
A: Loan - $25000 Time -120 days Rate- 15% After 60 days, amount paid - $ 2800 On 96th day amount paid…
Q: You are the owner of Caché, a chain of women's clothing boutiques. Your state has a sales tax of 7%,…
A: An organisation need to deposit sales tax to government out of revenue. Sales tax could be sent to…
Q: A few accounting interns were discussing the timing of revenue recognition for long-term…
A: Construction contracts are agreements between a business, organization, or person contracting for a…
Q: c. purchases raw materials on account for use in production. The direct mall $374,300 410,600…
A: Payment made in the month of billing - 35% Payment made in next month - 65% Purchase April=…
Q: Kegler Bowling buys scorekeeping equipment with an invoice cost of $175,000. The electrical work…
A: As per IAS 16 "Property, plant and equipment", PPE should initially needs to record at cost. Cost…
Q: Hilton Holdings has provided the following information regarding its expected activities from July…
A: A financial statement called a planned cash flow statement displays the anticipated inflows and…
Q: Carla Vista Corporation was organized on January 1, 2026 with the authorization of 1300000 shares of…
A: The treasury stock reissued at higher price than cost price leads to increase additional paid in…
Q: Daschle LLC completed some research and development in the US, during June of the current year. The…
A: The usual amortization period for research and development cost which is Capitalized is 60 months/5…
Q: Nervana Soy Products (NSP) buys soybeans and processes them into other soy products. Each ton of…
A: The joint cost is a sunk cost incurred in the past. During decision-making related to further…
Q: Olivet Devices sells two models of fitness devices. The budgeted price per unit for the wireless…
A: Variance arises when there is difference between actual costs and standard costs. The variance is…
Q: ABC Corporation introduced a new line of products in 2023 that carry a two-year warranty against…
A: Warranty is a form of assurance being given by seller to the buyer that in case product will have…
Q: Company K's monthly sales are 20% cash and 80% credit. Of the credit sales, 70% are received in the…
A: Cash receipt means the amount of money received by the entity during a particular period. It could…
Q: The following information has been extracted from the October 2019 records of Lijia's Company: Oct…
A: Inventory valuation process is followed to determine the value of ending inventory and cost of goods…
Q: 103 EZslide snowboards were sold. Buffalo Corp. uses a period anation ntory mases ases ases Units…
A: Ending inventory units = 140 - 103 = 37 units Cost of ending inventory : FIFO LIFO Average…
Q: Jordahl's grocery store has a small bakery that sells a variety of baked goods. Sales from the…
A: Contribution margin is a financial metric that represents the amount of revenue remaining after…
Q: 1. Perform the first stage allocation of costs to the activity cost pools. (Do not leave any empty…
A: Activity rate:— It is the rate used for allocating manufacturing overhead cost to cost objects under…
Q: Shareholders' equity Share capital $10 convertible preferred shares, 10,000 shares authorized, 5000…
A: Common shareholders have voting rights in the company, which they can exercise by casting votes at…
Q: April 1 Inventory balances Raw materials $ 123,700 Work in process 118,700…
A: Particular Amount Beginning raw material $123,700 Raw material purchased $118,800 Raw material…
Q: What are the journal entries for an accrual of rent expenses of P500? DEBIT Prepayments P500, CREDIT…
A: Lets understand the basics. Adjustment entry is required to pass to record correct amount of revenue…
H1.
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
- Emmons Lawn Maintenance (ELM) provides lawn and garden care for residential properties. In the current year, ELM maintains 75 properties and earns an average of $5,000 annually for each property. The owner of ELM is planning for the coming year. New building in the area is expected to increase volume by 20 percent. In addition, the owner estimates that the number of homeowners that will want ELM's service will increase by 10 percent. ELM plans to increase the price of service by 12.5 percent to cover expected increased wage and equipment costs. Estimate revenues for Emmons Lawn Maintenance for the coming year.After seeing its neighboring village obtain a new water tower, the city board of East Dubuque begins planning to replace its water towers. The board estimates that it will need $1,750,000 to build the new water towers in 20 years. At this time, the city board plans to assess its 2753 homeowners with a one-time flat fee surcharge and the n invest the money received in a CD paying 9% interest compounded daily(use n=360) for 20 years. a.) How much money will the board need to raise at this time to meet the city’s water tower needs at the end of 20 years? b.) Before applying the surcharge, the city board receives a federal grant of $100,000 toward the water tower investment. Taking this grant into account, how much should the surcharge be on each homeowner?A new school building was recently built in the area. The entire cost of the project was $26,000,000. The city has put the project on a 30-year loan with an APR of 3.3%. There are 17,000families that will be responsible for making monthly payments towards the loan. Determine the total amount that each family should be required to pay each year to cover the cost of the new school building. Round your answer to the nearest cent, if necessar
- A new school building was recently built in the area. The entire cost of the project was $16,000,000. The city has put the project on a 20-year loan with an APR of 2.6%. There are 15,000 families that will be responsible for making monthly payments towards the loan. Determine the total amount that each family should be required to pay each year to cover the cost of the new school building. Round your answer to the nearest cent, if necessary.The town of Podunk is considering building a new downtown parking lot. The land will cost $25,000, and the construction cost of the lot will be $150,000. Each year, costs associated with the lot will be $17,500. The income from the lot is $18,000 the first year, increasing by $3500 each year for the 12-year expected life of the lot. Determine the B/C ratio if Podunk uses a cost of money of 4%.Temporary Housing Services Incorporated (THSI) is considering a project that involves setting up a temporary housing facility in an area recently damaged by a hurricane. THSI will lease space in this facility to various agencies and groups providing relief services to the area. THSI estimates that this project will initially cost $5 million to set up and will generate $20 million in revenues during its first and only year in operation (paid in one year). Operating expenses are expected to total $12 million during this year and the capital cost allowance will be another $3 million. THSI will require no working capital for this investment. THSI's marginal tax rate is 35%. Assume that THSI's cost of capital for this project is 15%. The net present value (NPV) of this temporary housing project is closest to: $435,000 -$650,000 $1,960,000 -$435,000 $1,250,000
- A manufacturing company has determined that it will need $700,000 in 6 years for a new roof on its southeastern regional warehouse. A sinking fund is established for the roof at 3.6% compounded semiannually. What equal payments (in $) are required every 6 months to accumulate the needed funds for the roof? (Round your answer to the nearest cent.)Temporary Housing Services Incorporated (THSI) is considering a project that involves setting up a temporary housing facility in an area recently damaged by a hurricane. THSI will lease space in this facility to various agencies and groups providing relief services to the area. THSI estimates that this project will initially cost $4 million to set up and will generate $20 million in revenues during its first and only year in operation (paid in one year). Operating expenses are expected to total $8 million during this year and depreciation expense will be another $2 million. THSI will require no working capital for this investment. THSI's tax-rate is 20% Assume that THSI's cost of capital for this project is 15%. The net present value (NPV) of this temporary housing project is closest to:Temporary Housing Services Incorporated (THSI) is considering a project that involves setting up a temporary housing facility in an area recently damaged by a hurricane. THSI will lease space in this facility to various agencies and groups providing relief services to the area. THSI estimates that this project will initially cost $4.87 million to setup and will generate $20 million in revenues during its first and only year in operation (paid in one year). Operating expenses are expected to total $12 million during this year and depreciation expense will be another $3 million. THSI will require no working capital for this investment. THSI's marginal tax rate is 35%. Assume that THSI's cost of capital is 14.6% p.a. Compute the NPV of the temporary housing facility to the nearest dollar
- The college is considering funding options for new engineering building on campus. The money has been raised for the construction costs and now the focus is raising funds for the annual upkeep and maintenance (U&M) expenses. For this building, contractors will be hired with a series of 3-year agreements over the 30 years. Under each contract the university will pay $125,000 at the beginning of each 3-year agreement to cover all U&M building expenses over that 3-year period. The first 3-year agreement begins when the building opens. A wealthy alumnus (you one day) has agreed to donate enough at the building opening to cover the U&M expenses over the 30- year term. If money invested by the school's engineering foundation earns 6% interest compounded quarterly, how much must be donated. (Hint: Build a spreadsheet like the one below) Year 0 3 6 9 12 15 18 21 24 27 Cost Rate Cash Flow FERH $125,000 $ 125,000.00 Present Worth 6% $125,000 3 year U&M Contract Cost Annual Interest Rate…You are an employee of University Consultants, Ltd., and have been given the following assignment. You are to present an investment analysis of a new small residential income-producing property for sale to a potential investor. The asking price for the property is $1,250,000; rents are estimated at $200,000 during the first year and are expected to grow at 3percent per year thereafter. Vacancies and collection losses are expected to be 10 percent of rents. Operating expenses will be 35 percent of effective gross income. A 70 percent loan can be obtained at 11 percent interest for 30 years. The property is expected to appreciate in value at 3 percent per year and is expected to be owned for five years and then sold. a. What is the investor’s expected before-tax internal rate of return on equity invested (BTIRR)?b. What is the first-year debt coverage ratio?c. What is the terminal capitalization rate?d. What is the NPV using a 14 percent discount rate? What does this mean?The city of Oak Ridge is evaluating three mutually exclusive landscaping plans for refurbishing a public greenway. Benefits to the community have been estimated by a landscaping committee, and the costs of planting trees and shrubbery, as well as maintaining the greenway, are summarized below. The city’s discount rate is 8% per year, and the planning horizon is 10 years. Solve, a. Use the B–C ratio method to recommend the best plan when annual maintenance expenses offset annual benefits in the numerator. b. Repeat Part (a) when annual maintenance expenses add to total costs in the denominator. Which plan is best? c. Should the recommendations in Part (a) and (b) be the same? Why or why not?