Answer:
The amount of the prepaid portion that is due back to Ashley using the 12 month, 360 day proration is=$362.34
Explanation:
Step 1: Determine HOA per day
Use the expression below to determine HOA per day;
T=H×N
where;
T=total HOA dues per year
H=HOA per day
N=number of days in a year
In our case;
T=$660
H=unknown
N=360 days
Replacing;
660=H×360
360 H=660
H=660/360
H=$1.83 per day
Step 2: Determine amount of HOA that is due back
Using the same expression;
T=H×N
but;
T=unknown
H=$1.83 per day
N=(June, 15 days)+(July, 30)+(Aug, 31)+(Sep. 30)+(Oct 31)+(Nov 30)+(Dec 31)
N=(15+30+31+30+31+30+31)=198 days
Replacing;
T=(1.83×198)=$362.34
The amount of the prepaid portion that is due back to Ashley using the 12 month, 360 day proration is=$362.34
When the _____ value of debt is the same as its face value, it is said to be selling at _____ value.
Answer:
When the market value of debt is the same as its face value, it is said to be selling at par value.
Explanation:
Face value and par value is same. When market price of the bond is same as the face value of the bond it is said that this debt is trading on its par value. Par or face value is the value on which bond is initially issued and the value mentioned on the face of the bond. So, When the market value of debt is the same as its face value, it is said to be selling at par value.
When preparing a draft of its 2005 balance sheet, Mont, Inc. reported net assets totaling $875,000. Included in the asset section of the balance sheet were the following: Treasury stock of Mont, Inc. at cost, which approximates market value on December 31 $24,000 Idle machinery, 11,200 Cash surrender value of life insurance on corporate executives, 13,700 Allowance for decline in market value of noncurrent equity investments 8,400 At what amount should Mont's net assets be reported in the December 31, 2005 balance sheet?
A. $851,000.
B. $850,100.
C. $842,600.
D. $834,500.
Answer:
A)$851,000
Explanation:
Question: At what amount should Mont's net assets be reported
First, what is the total of the reported net assets (preadjusted)= $875,000
Therefore, Mont's stock will be deducted form the reported net assets to arrive at the correct net assets
= $875,000- $24,000= $851,000
This was done because $24,000 represents the market value of the treasury stock of Mont Inc as at Dec 31. The treasury stock of a firm cannot be considered as an asset because a firm is not expected to own its own stock and reflect it in the books. Hence this was deducted to arrive at the correct net assets.
Final answer:
Mont, Inc. should report its net assets as A)$851,000 on the December 31, 2005, balance sheet, after adjusting for treasury stock, idle machinery, and allowance for decline in market value of noncurrent equity investments.
Explanation:
When preparing the balance sheet for Mont, Inc., certain items need to be adjusted to find the correct total net assets. Mont, Inc. reported net assets totaling $875,000. To find the adjusted net assets, we must subtract the treasury stock and the idle machinery, which are not productive assets, and add back any allowances for losses that do not affect the cash flow, as these are merely adjustments on paper.
So, the calculation would be as follows
Mont's stock will be deducted form the reported net assets to arrive at the correct net assets
= $875,000- $24,000
= $851,000.
Lifetime Television, an American cable television company, specifically targets female viewers. The channel is devoted to movies, sitcoms, and dramas that are either geared toward women or feature women in lead roles. This is an example of a ________ strategy.
A) focused niche B) price leadership C) cost leadership D) market leadership
Answer:
A) focused niche strategy
Explanation:
A niche is a specific section of a market. In this case, the specific section of the market is female viewers.
Lifetime Television has found that tailoring its products to a specific niche (female viewers) is a good strategy. They have decided to do so instead of trying to attract a larger section of ther market (for example, they could be a channel that appeals to both men and women, but they have chosen not to do so).
Lifetime Television's strategy of targeting female viewers is an example of a focused niche strategy.
Explanation:The example of Lifetime Television targeting female viewers can be categorized as a focused niche strategy. This strategy involves targeting a specific segment of the market, in this case, women viewers, and providing content that caters specifically to their interests and preferences.
By focusing on movies, sitcoms, and dramas that are either geared toward women or feature women in lead roles, Lifetime Television is able to differentiate itself from other channels and attract a loyal audience. This targeted approach allows the company to better meet the needs and preferences of its target market, leading to increased viewership and advertising revenue.
The demand schedule for a good Group of answer choices
1. indicates the relationship between the price of the good and the price of other goods.
2. indicates the quantities of the good that people will buy at various prices.
3. illustrates the quantity producers will provide at alternative prices.
4. is determined primarily by the cost of producing the good.
Answer:
2. indicates the quantities of the good that people will buy at various prices.
Explanation:
Demand refers to an individual's willingness to buy a product in consideration for a price.
The law of demand states that more of a good is demanded at a lesser price and vice versa. When price of a good changes with other factors affecting demand remaining constant, the quantity demanded for that good changes which is termed as movement along the demand curve.
A demand schedule for a good represents the tabular relationship which shows the quantity demanded by customers at different price levels.
A demand schedule when represented graphically creates a downward sloping demand curve depicting inverse relationship between price of a good and it's quantity demanded.
A demand schedule indicates the quantities of a good people are willing to buy at different price levels. It's not primarily determined by the cost of producing the good or by the price of other goods. An example provided highlights the inverse relationship between price and demand.
Explanation:The demand schedule for a good Group from the given choices primarily indicates the quantities of the good that people are willing to buy at various prices. It doesn't primarily indicate the relationship between the costs of other goods, nor is it determined by the cost of producing the good itself. Instead, it shows a direct relationship between price and quantity. The higher the price, the less people are willing to purchase, and vice versa.
For instance, if the price of an apple is $1, maybe 100 people are willing to buy. But if the price rises to $2, the number of people willing to buy may decrease to 80. This is depicted by a demand schedule and the corresponding demand curve in economics.
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Indexing Social Security payments:
a. no longer requires a concerted effort on the part of Congress to maintain their real value.
a. still requires a concerted effort on the part of Congress to vote the amount of increase.
c. no longer requires a concerted effort on the part of Congress to maintain their nominal value.
d. still requires a concerted effort on the part of Congress to convert them to their nominal amounts.
Answer:A. No longer requires a concerted effort on the part of Congress to maintain their real value.
Explanation:Social security payments are payments made to retirees or the disabled or aged members of the society in the United States of America. It is manages by the SSA(SOCIAL SECURITY ADMINISTRATION) of the Federal Government.
Social Security indexing is the process of computing a person's benefit, it is done using the national average wage indexing series to index a person's earnings. Such computation ensures that a worker's future benefits shows the rise in the standard of living that took place during his or her working age.
Marketers often scan social media to learn more about what customers think. __________ is a technique in which data from a variety of online sources is used to collect consumer comments about companies and their products.
Answer:
Sentiment analysis
Explanation:
Sentiment analysis -
It is the method of analysis , where the data and information is collected from various sources , is referred to as sentiment analysis .
This method is commonly used for the analysis done on some product or services , where the reviews , comments and the thoughts of the consumers can be collected from the online resources .
Hence , from the given information of the question ,
The correct term is sentiment analysis.
Milo files a suit agsinst Nick in an Obio state court, noting that Nick operates a Web site through which Ohio residents have done substantial business with him. The court is most likely to have jurisdiction over Nick if Milo's claim arises from:_____
a. Nick's Web site activities
b. anything an Ohio resident has done
c. something other than Nick's Web site
d. othing an Olio resident has done.
Answer:
The answer is A.Nick's web site activities.
Explanation:
How is solving the problem of organizing protistan diversity a model for understanding the process of science?
Answer:
Because important answers come from this tiny protist microcosm, as a model system in understanding the process of science.
Explanation:
Solving the problem of organizing protistan diversity as a model for understanding the process of science has been profusely investigated in laboratory as there are many common processes and patterns of biological organization in general variables to be measured that give answers through across‐study comparisons and meta‐analyses with an accuracy that has never been reached before, through standard, detailed protocols methods of the protist microcosm experiments.
Final answer:
Solving the problem of protistan diversity illustrates the dynamic nature of scientific knowledge, where new genetic evidence reshapes our understanding of evolutionary relationships and leads to reclassification within the domain Eukaryota.
Explanation:
Solving the problem of organizing protistan diversity is a model for understanding the process of science because it shows how scientific ideas and classifications evolve with new evidence. Over recent decades, DNA sequence analyses have reshaped our understanding of the relationships among eukaryotes in the domain Eukaryota, particularly protists. This has led to the disassembly of the Kingdom Protista and the formation of six "supergroups". Protists that appear morphologically similar may have evolved analogous structures through convergent evolution, not due to a recent common ancestor, further complicating classification efforts.
The reclassification process demonstrates the dynamic nature of scientific knowledge, where monophyletic groups are redefined based on genetic evidence. Adapting to new information and adjusting biological classifications reflect the self-correcting and evidence-based approach that is inherent to the scientific process. The study of protist classification not only reveals the broader evolutionary relationships within Eukaryota but also reinforces the importance of science being an iterative and collaborative endeavor.
After getting her first job, a college graduate wants to begin saving money so she can pay cash for a new car. She wants to save enough each month to have $21,000 at the end of 4 years, and her savings account pays 4% interest, compounded monthly. How much will she have to save each month to reach her goal? Express your answer in $ to the nearest whole $.
Answer:
The monthly payment for the student willbe of 404.16 dollars
Explanation:
We have to solve for the monthly payment of a future value annuity
[tex]PV \div \frac{(1+r)^{time} -1}{rate} = FV\\[/tex]
FV 21,000
rate 4% / 12
time 4 years x 12 month per year
[tex]21000 \div \frac{1-(1+0.00333)^{-48} }{0.00333} = C\\[/tex]
C $ 404.160
The principle prescribing that financial statements reflect the assumption that the business will continue operating instead of being closed or sold, unless evidence shows that it will not continue is the: A. Going-concern principle B. Business entity principle C. Objectivity principle D. Cost Principle E. Monetary unit principle
Answer:
A. Going-concern principle
Explanation:
The correct Choice is A.
This concept assumes that the business unit will continue operating under the same economic conditions and in the same general environment. But it does not assume that the business unit will be profitable as long as it exists.
Accounting is based on the assumption that business unit will be operating for long. When a business is started , it is assumed that the business will not be dissolved in the near future. The accounting system provides a continuous record of the performance of the business throughout its existence.
Renewable Resources, Inc., files a suit against Sunrich Utility Company and seeks to examine certain documents in Sunrich’s possession. A legitimate reason for this examination is that the documents contain ______.a. information that is relevant to the case.
b. private information about Sunrich's operations.
c. public information about energy generation.
d. irrelevant data that can be eliminated from consideration.
Answer: a) Information that is relevant to the case.
Explanation:
A legitimate reason for this examination of document is because it's the document that's involved or relevant to the case.
"The correct option is (a). The legitimate reason for examining certain documents in Sunrich’s possession would be that the documents contain information that is relevant to the case.
a. information that is relevant to the case.
This process is governed by rules of civil procedure, which generally require that the information sought must be relevant to the claims or defenses of the party seeking the information. Relevance is the key criterion; the information must have the potential to prove or disprove a fact that is important to the case.
Option b, private information about Sunrich's operations, may not necessarily be subject to discovery if it is not relevant to the claims or defenses in the case. Privacy concerns are balanced with the need for relevant evidence, and courts often use protective orders to limit the disclosure of sensitive information.
Option c, public information about energy generation, would not typically be a reason to seek documents in a legal proceeding, as such information is already publicly available and does not need to be obtained through the discovery process.
Option d, irrelevant data that can be eliminated from consideration, is incorrect because the purpose of discovery is to obtain relevant information, not irrelevant data. Irrelevant data is not helpful to the case and would not be a legitimate reason for document examination.
If a $100 drop in the price of a $10,000 car resulted in an increase in the quantity of cars purchased from 100 to 110 and a $100 drop in the price of a $1000 vacation rental resulted in an increase in the quantity of weekly vacation homes rented from 100 to 110, the price elasticity of demand is:
Answer:
Price elasticity of demand is greater for the Car
Explanation:
Price elasticity of Demand = (Q2 - Q1/Q1) ÷ (P2 - P1/P1)
For the car,
PED = (110 - 100/100) ÷ (10000-9900/10000)
= 0.1 ÷ 0.01
= 10
PED = (110 - 100/100) ÷ (1000-900/1000)
= 0.1 ÷ 0.1
= 1
Since 10 > 1, hence the PED of the Car is greater than that of vacation homes.
The price elasticity of demand for both the car and vacation rental is 1, indicating unitary elasticity.
Explanation:The price elasticity of demand measures how responsive the quantity demanded of a good is to changes in its price. It is calculated as the percentage change in quantity demanded divided by the percentage change in price. In this case, the $100 drop in price resulted in a 10% increase in quantity for both the car and vacation rental. Therefore, the price elasticity of demand for both goods is 1, indicating unitary elasticity.
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Two airlines serve the route between Tampa and Houston. What will happen to one airline if the other one raises its prices? A. There will be a movement downward, to the right, along its initial demand curve. B. There will be a movement upward, to the left, along its initial demand curve. C. Its demand curve will shift to the left. D. Its demand curve will shift to the right
Answer:
D. Its demand curve will shift to the right
Explanation:
If two airlines are competing for the same market, and airline A raises its price, the airline B will benefit because now it will be cheaper compared to the other one.
This means that more people will be willing to purchase tickets from airline B at any given price (in this case, the same price as before), shifting the demand curve of airline B to the right.
When one airline raises its prices, the demand curve for the other airline will shift to the left, causing a decrease in the quantity demanded of air travel.
Explanation:When one airline raises its prices on the route between Tampa and Houston, it will affect the other airline in the following way:
Answer choice C is correct. The demand curve for the other airline will shift to the left. This means that the quantity demanded of air travel on that airline will decrease at each price level.
In other words, fewer people will choose to fly with that airline because of the higher prices.
In 1969, frustrated by the lack of progress in LAFTA, Bolivia, Chile, Colombia, Ecuador, and Peru joined in creating the Andean Group, which aimed to create economic integration through reduced taxes, a common external tariff, and investment in the poorer industrial areas of their respective countries.
a. True
b. False
Answer:
TRUE
Explanation:
Later, Venezuela joined the group in 1973 and quit in 2006 under Chavez's administration. As Colombia and Peru signed treaty's with the US
Chile also quit under Pinochet administration in 1976
The free trade enter zone entered into full operation in 1993 and a year later 1994 the commopn external tariff
Eddie Falco went to a grocery store to buy his favorite brand of ice cream. However, the store was temporarily out of that brand, so he looked over the other familiar brands and decided to try a well-advertised brand. This case illustrates:______________
Answer:
limited problem solving
Explanation:
Limited problem solving -
It refers to the process of buying certain goods and services , when the person have only limited knowledge about the product , is referred to as limited problem solving .
People having lack of knowledge may even end up buying the wrong product .
Hence , from the given scenario of the question ,
The correct term is limited problem solving .
On July 1, Runner's Sports Store paid $14,000 to Corona Realty for 4 months rent beginning July 1.Prepaid Rent was debited for the full amount. If financial statements are prepared on July 31, the adjusting entry to be made by Runner s Sports Store is:
The question is incomplete. Choose fron the following;
A)Debit Prepaid Rent, $3,500; Credit Rent Expense, $3,500.
B)Debit Rent Expense, $14,000; Credit Prepaid Rent, $14,000.
C)Debit Rent Expense, $3,500; Credit Prepaid Rent, $3,500.
D)Debit Rent Expense, $14,000; Credit Prepaid Rent, $3,500.
Answer:
The answer is C)Debit Rent Expense, $3,500; Credit Prepaid Rent, $3,500.
Explanation:
The rent expense for the month ending July 31 was 14000/ 4 = $3500.
Answer:
C) Debit Rent Expense, $3,500; Credit Prepaid Rent, $3,500.
Explanation:
The journal entry for July 1 was:
July 1, rent paid in advance for 4 months.
Dr Prepaid rent 14,000
Cr Cash 14,000
Since one month has passed, the prepaid rent account must be adjusted:
July 31, expense recognition of one month of rent.
Dr Rent expense 3,500 (=14,000 / 4)
Cr Prepaid rent 3,500
Since prepaid rent is an asset account, when it is credited it will decrease. Expense accounts all have a debit balance.
Information collected from multiple sources such as suppliers, customers, competitors, partners, and industries that analyzes patterns, trends, and relationships for strategic decision-making
a) true
b) false
Answer:
A. True
Explanation:
The term business intelligence refers to the plans, process through which the raw data is to be converted into meaningful information that became relevant for the ethical decision making so that the goals and the objectives of the company could be accomplished.
Data + Process = Information
Collection of information through internal and external parties would also help to analyze the trends, patterns for better decision making.
Therefore, the given statement is true.
a. A detailed record of all increases and decreases that have occurred in a particular asset, liability, or equity during a period
b. The record holding all the accounts of a business, the changes in those accounts, and their balances
c. A journal entry that is characterized by having multiple debits and/or multiple credits
d. A record of transactions in date order
e. Left side of a T-account
f. Side of an account where increases are recorded
g. Transferring amounts from the journal to the ledger
h. Right side of a T-account
i. A list of all accounts with their balances at a point in time
j. A list of all accounts with their account numbers
Answer and Explanation:
Account
In commerce, an account is a record that has a list and store business transactions.
Ledger
ledger is a document that includes records in which the recorded and compiled information material is recorded as debits and credits.
Compound Journal Entry
A compound journal entry is a financial reporting entry that contains more than one debit and one credit.
Journal
The location where journal entries are registered before they are added to the ledger accounts.
Debit side
A debit is a left-hand entry of a dual-entry bookkeeping scheme that reflects the increase of an asset or cost or a decrease in debt.
Normal balance
It is part of the book-keeping procedure for double entries. Each account has the balance either of credit or debit. To order to increase the amount of an account with a credit balance, one would be crediting the account.
Posting
Posting is the process of transferring debit and credit balances to their respective ledgers.
The right side of the t-chart
The credit side is always the right-hand side of the T account
Trial balance
A trial balance is a collection of all the ledger accounts included in a company's ledger of accounts
Chart of accounts
it is a generated collection of the accounts that a company uses to describe each type of items that pay or receive money or its relative for.
The subject of this question is Business, and it relates to accounting and bookkeeping terms. The student is asking for definitions, and the answer provides explanations and examples for terms such as ledger, compound entry, journal, T-account, posting, trial balance, and chart of accounts.
Explanation:The subject of this question is Business. The student is asking for definitions related to accounting and bookkeeping. Let's define each term:
A detailed record of all increases and decreases that have occurred in a particular asset, liability, or equity during a period is called a ledger.The record holding all the accounts of a business, the changes in those accounts, and their balances is also referred to as a ledger.A journal entry that is characterized by having multiple debits and/or multiple credits is known as a compound entry.A record of transactions in date order is called a journal.The left side of a T-account is called the debit side.The side of an account where increases are recorded is referred to as the credit side.Transferring amounts from the journal to the ledger is known as posting.The right side of a T-account is called the credit side.A list of all accounts with their balances at a point in time is called a trial balance.A list of all accounts with their account numbers is referred to as a chart of accounts.Learn more about Accounting and Bookkeeping here:https://brainly.com/question/31628212
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Explain how the competitive labor market functioned before the buyout of the independent farms. How was the wage rate and quantity of workers employed in the market determined?
Answer: The wage rate and quantity of workers employed in the market is determined by the forces of demand and supply
Explanation:
The competitive labour market is a market where we have so many employers alongside many employees in which one employer can not influence the wage rate unilaterally. In a competitive labour market, the wage rate is determined by the forces of demand and supply. In a competitive labour market ,if demand for labour is more than the supply for it ,the wage rate will rise,on the other hand, if the supply is more than the demand for labour the wage rate will fall. If both demand and supply is at equilibrium in the market, the wage rate will be to the benefit of both the employers and the employees.
In order for a country to be economically efficient and operate at a point beyond the production possibilities frontier curve, the country would have to do which of the following? A improve technology in the future B Reallocate its workers C Experience increasing marginal costs D Become technically efficient
Answer:
The country would have to;
A improve technology in the future
Explanation:
A production possibilities frontier is a curve the shows the relationship between the varying amounts of two products that can be produced if the products depend on the same limited resources for their production. It is also used in economics to illustrates the point where the economy's production reaches the most efficient level in terms of the choice of goods it decides to produce and the ones it decide to trade from other countries to satisfy it's needs.
To understand the production possibilities frontier, one needs to know that it is the point where the production of goods and services are efficient due to an effective allocation of resources. When the country is operating below the production possibilities frontier, it means that they are not yet efficient in terms of production and resource allocation therefor they can still improve on resource allocation and production methods. A country that is operating on the production possibilities frontier is operating at it's peak efficiency in terms of production and allocation of resources. For an economy to move beyond it's production possibilities frontier, the technology has to be improved in the future.
If Quincy can invest at an opportunity cost rate equal to 12 percent compounded monthly, what lump-sum amount should he invest today so that he has $22,000 to buy a new car in three years?
To calculate the lump-sum amount Quincy should invest today, we can use the formula for the future value of a lump-sum investment. We can plug in the values into the formula and solve for present value.
Explanation:To calculate the lump-sum amount Quincy should invest today, we can use the formula for the future value of a lump-sum investment:
FV = PV × (1 + r/n)^(nt)
In this formula, FV represents the future value, PV represents the present value (which is what we're trying to solve for), r is the interest rate, n is the number of times interest is compounded per year, and t is the number of years. Given that Quincy wants to have $22,000 in 3 years, an investment opportunity cost rate of 12% compounded monthly, we can plug in these values into the formula and solve for PV:
FV = $22,000r = 12% = 0.12n = 12 (compounded monthly)t = 3 yearsPlugging in these values into the formula:
$22,000 = PV × (1 + 0.12/12)^(12 × 3)
Simplifying the exponent:
$22,000 = PV × (1.01)^36
And now we can isolate PV:
PV = $22,000 / (1.01)^36
Calculating this expression gives the lump-sum amount that Quincy should invest today to have $22,000 in 3 years.
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First Simple Bank pays 6.4 percent simple interest on its investment accounts. If First Complex Bank pays interest on its accounts compounded annually, what rate should the bank set if it wants to match First Simple Bank over an investment horizon of 10 years?
Answer:
rate set by first complex bank is = 5.07 %
Explanation:
given data
simple interest = 6.4 %
investment time = 10 year
solution
we consider here first total interest on the amount $100 paid as simple interest is for 10 year will be
interest = $100 × 6.4% × 10
interest = $64
so future value will be = $100 + $64 = $164
so now we consider rate of interest = r
so that now we apply here future value formula
future value = investment × [tex](1+r)^{t}[/tex] ...............1
$164 = $100 × [tex](1+r)^{10}[/tex]
1.64 = [tex](1+r)^{10}[/tex]
solve it we get
r = 0.05071
so rate set by first complex bank is = 5.07 %
First Complex Bank should set an annual compound interest rate of 0% to match the 6.4% simple interest rate offered by First Simple Bank over a 10-year investment horizon.
To match the simple interest rate of 6.4% offered by First Simple Bank over an investment horizon of 10 years, First Complex Bank needs to calculate the equivalent annual compound interest rate.
Using the formula for compound interest:
[tex]\[ A = P \times \left(1 + \frac{r}{n}\right)^{nt} \][/tex]
Where:
- A is the future value of the investment,
- P is the principal investment amount (which we can set as 1 for simplicity),
- r is the annual interest rate (what we're solving for),
- n is the number of times interest is compounded per year (for annual compounding, ( n = 1 ),
- t is the time the money is invested for in years (in this case, t = 10).
Given that A = 1 (as we're considering a principal investment amount of 1), n = 1 , and t = 10, we can rearrange the formula to solve for r :
[tex]\[ 1 = 1 \times \left(1 + \frac{r}{1}\right)^{1 \times 10} \]\[ 1 = (1 + r)^{10} \][/tex]
Now, we solve for r :
[tex]\[ (1 + r)^{10} = 1 \]\[ 1 + r = \sqrt[10]{1} \]\[ 1 + r = 1 \]\[ r = 1 - 1 \]\[ r = 0 \][/tex]
Therefore, the annual compound interest rate that First Complex Bank should set to match the 6.4% simple interest rate of First Simple Bank over a 10-year investment horizon is 0%.
Vision Tech’s stock price is currently trading at $17 per share. The consensus among analysts is that the intrinsic value of Vision Tech’s stock is $27 per share. Is Vision Tech more or less likely to receive a hostile takeover bid?a. Less likely b. More likely
Answer:
b. More likely
Explanation:
Vision Tech's stock is currently being undertraded and investors will see this as an opportunity to take over the company at a cheaper cost ($17 per share) and make a profit at the higher intrinsic value ($27 per share).
Gaining $10 per share on Vision Tech is a very high return on prospective investor's funds. So it is more likely that a hostile takeover bid will be received by Vision Tech.
In late April, the Acme Construction Co. submitted a $1,200,000 progress billing on a construction contract.On May 2, the bill was approved for payment, subject to a ten percent retention, as provided by the contract. Construction expenditures should be debited when ______
A. The bill is paid (except for the ten percent retention).
B. The final ten percent of the bill is paid.
C. The contract is signed.
D. The bill is approved for payment.
Construction expenditures should be debited when D. The bill is approved for payment.
Explanation:
In the above scenario, Acme Construction Co. submitted bill amount of $1,200,000 on a construction contract. The payment of the bill was approved on May 2. According to the contract, 10% was subject to retention.
This construction expenditure is debited when the bill is approved for payment. Contract includes all the details regarding payment and terms and conditions between the companies or parties.
Once the bill submitted by company is approved, then the retention amount will be automatically debited.
On July 1, 2018, Nall Co. issued 2,500 shares of its $10 par common stock and 5,000 shares of its $10 par convertible preferred stock for a lump sum of $140,000. At this date Nall's common stock was selling for $24 per share and the convertible preferred stock for $18 per share. The amount of the proceeds allocated to Nall's preferred stock should be __________.a. $70,000.
b. $84,000.
c. $90,000.
d. $77,000.
Answer:
B) $84,000.
Explanation:
2,500 common stock x $24 market price per stock = $60,000
5,000 preferred stock x $18 market price per stock = $90,000
total market price = $150,000
since only $140,000 was received, the stock price must be adjusted by $140,000 / $150,000 = 93.33%
common stock = $60,000 x 93.33% = $56,000preferred stock = $90,000 x 93.33% = $84,000Which of these best describes the tax rates shown in the graph?
As income increases, the percentage of tax paid decreases.
As income increases, the percentage of tax paid increases.
For all income levels, the percentage of tax paid is about 20 percent.
For all income levels, the percentage of tax paid is less than 20 percent.
Answer:
As income increases, the percentage of tax paid increases.
Explanation:
Which of these best describes the tax rates shown in the graph?
As income increases, the percentage of tax paid decreases.
As income increases, the percentage of tax paid increases.
For all income levels, the percentage of tax paid is about 20 percent.
For all income levels, the percentage of tax paid is less than 20 percent.
One way Chip's Coffee House retains staff is by offering two-weeks paid vacation and health insurance benefits for part-time employees. Which of Bossidy and Charan's core processes is this business focusing on?a. productions
b. operations
c. strategy
d. people
Answer: d. People
Explanation:
Bossidy and Charan understand if they treat their employees well it would greatly affect the business as workers will work their very best and customers would be treated properly.
Final answer:
Chip's Coffee House's strategy of providing benefits to part-time employees focuses on 'people,' reflecting a commitment to a people-oriented culture similar to Starbucks, which aids in employee retention and satisfaction.
Explanation:
Chip's Coffee House is focusing on people as one of Bossidy and Charan's core processes by offering two-weeks paid vacation and health insurance benefits for part-time employees. This approach demonstrates an investment in people-oriented culture, which is known for valuing fairness, supportiveness, and respect for individual rights. Companies like Starbucks have shown that providing such benefits can lead to a lower turnover rate and make the company an attractive place for both current and prospective employees. Additionally, leadership development is a critical part of maintaining such a healthy organizational culture, which is why it is so important to Starbucks, as it ensures the company's core values are continued with each new generation of leaders.
Allen Company bought a new copy machine to be depreciated straight line for three years for use by sales personnel. Where would this purchase be reflected on the Statement of Cash Flows?
Answer:
Investing activity
Explanation:
Investing activities: It reports activities that involves buying and selling long-term assets. The buying or acquiring or purchasing is a cash outflow whereas the sale is a cash inflow
Since in the given situation, the purchase of a new copy machine would be reflected under the investing activity as it is to be shown with the negative sign due to outflow of the cash
1. cosystems include hydrothermal vent communities in the deep ocean bottom.
2. Rocky shorelines that are home to sea stars, mussels, crabs, and anemones and experience fluctuating water levels are ecosystems.
3. ecosystems are being affected by the process of ocean acidification, which threatens their long-term existence.
4. Floating brown algae that provide food and shelter for a diversity of animals characterize ecosystems.
5. ecosystems occur where fresh water from rivers mixes with saltier marine waters to produce a highly productive ecosystem with varying salinity levels.
6. Salt-tolerant grasses and shrubs dominate ecosystems, which occur on the coast at temperate latitudes.
Ecosystems come in diverse forms, from extreme deep-sea vents to dynamic rocky shorelines, and they face various challenges, including ocean acidification. Understanding and protecting these ecosystems is crucial for preserving biodiversity and maintaining the health of our planet.
Ecosystems are complex, interconnected communities of organisms and their physical environments. The statements provided encompass various examples of ecosystems and the challenges they face:
1. Hydrothermal vent communities in the deep ocean bottom represent extreme ecosystems. These are characterized by high-pressure, high-temperature conditions and rely on chemosynthetic bacteria to convert minerals and chemicals into energy, forming the base of the food chain. These ecosystems are unique and support remarkable biodiversity.
2. Rocky shorelines are dynamic ecosystems that endure fluctuating water levels due to tides. They are home to a diverse array of species, including sea stars, mussels, crabs, and anemones. The constant changes in water levels create selective pressures that shape the adaptations of the organisms living there.
3. Ocean acidification is a serious threat to marine ecosystems. Increased atmospheric CO2 levels are causing the oceans to become more acidic, which can harm calcifying organisms like corals and shellfish. This disrupts the balance of marine ecosystems and affects the long-term survival of many species.
4. Floating brown algae play a crucial role in supporting marine ecosystems. They provide food and shelter for various animals, including fish and invertebrates. These kelp forests are vital for maintaining biodiversity in coastal areas.
5. Estuarine ecosystems occur at the interface of freshwater and saltwater, creating a unique environment with varying salinity levels. These ecosystems are highly productive and serve as nurseries for many marine species.
6. Salt-tolerant grasses and shrubs dominate coastal ecosystems in temperate latitudes. These ecosystems are vital for stabilizing coastlines, providing habitat for wildlife, and protecting against erosion.
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Ecosystems are a subject in biology that involve communities of organisms interacting with each other and their environment. They can occur in various locations and are affected by processes like ocean acidification. Floating brown algae and salt-tolerant grasses and shrubs are examples of organisms that can characterize ecosystems.
Explanation:Ecosystems are a subject in biology that refer to a community of organisms interacting with each other and their environment. They can be diverse and can range from hydrothermal vent communities in the deep ocean bottom to rocky shorelines, from freshwater-saltwater mixing zones to coastal areas dominated by salt-tolerant grasses and shrubs. Ocean acidification is a process that affects ecosystems, threatening their long-term existence. Floating brown algae can also characterize ecosystems by providing food and shelter for a variety of animals.
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What's the accounting recording process for transactions? Group of answer choices
1. Transfer journal information to ledger accounts, enter transaction in a journal, analyze
2. the transaction Enter transaction in a journal, transfer journal information to ledger accounts, analyze
3. the transaction Analyze the transaction, enter transaction in a journal, transfer journal information to ledger accounts.
Answer:
3. The transaction Analyze the transaction, enter transaction in a journal, transfer journal information to ledger accounts.
Explanation:
According to accounting recording process for transactions the sequence is as follows:
1. Prepare Transaction
2. Analyze the the transaction
3. Enter the transaction in the journal
4.Transfer it to ledger accounts
5. Prepare trial balance
6. Prepare financial statements
So the option 3 is correct.
The accounting recording process involves analyzing the transaction, recording it in a journal, and then transferring the information to the ledger accounts. This process helps in maintaining a systematic and accurate record of all business transactions.
Explanation:The accounting recording process for transactions typically involves the following three steps:
Analyze the transaction - This involves identifying the accounts that are involved in the transaction and determining how the transaction changes the account balances.Enter the transaction in a journal - The journal is the book of original entries where every transaction is recorded in chronological order. Each entry details the date of the transaction, the accounts affected, the amounts debited or credited, and a short description.Transfer journal information to ledger accounts - This is the process of posting where the entries in the journal are transferred to the respective accounts in the ledger. The ledger is the book of final entry.This process ensures a systematic and accurate record of business transactions and forms the basis for preparing financial statements.
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