Answer:
Income Statement for the Year ended December 31th,2014
Service revenue 34,600
Rent expense 14,800
Advertising expense 4,410
Supplies expense 1,290
Total expenses 20,500
Net income 14,100
Explanation:
For the incoem statemnt we will only work with revenues and expenses account.
we list all the revenues first.
then, we list and add up all the expenses accout
finally, we subtract from revenues to get the net income.
You borrow money from Fast Eddie’s Fast Cash at 20 percent per year interest and agree to pay $500 at the end of each of the next four years. You must have borrowed approximately:a. $2,000 b. $1,595c. $1,295d. $1,095
Answer:
The answer is C. $1,295
Explanation:
This question wants us to find the prevent value of all the $500 for those for years.
Please find the attached file for the calculation
A company is in its first month of operations. Supplies worth $4,000 were purchased on January 5. At the end of the month supplies worth $3,000 were in hand. What adjusting entry would be made at the end of January?
Answer:
Adjustying Entry at the end of January
Dr. Cr.
Supplies Expense Account $1,000
Supplies Inventory Account $1,000
Explanation:
Opening supplies = 0 (First month of operation)
Purchases on January 5 = $4,000
Supplies on January 31 = $3,000
Closing Inventory = Opening Inventory + Purchase during the month - Expense for the month
$3,000 = $0 + $4,000 - Expense for January
Expense for January = $4,000 - $3,000 = $1,000
Assume that the assumptions of the Expectations Hypothesis are true and that today's one-year risk-free rate is 7%. Moreover, investors expect that the one year rate one year from now will be 8% and the one year rate two years from now will be 9%. Given this information, what should be today's two-year and three-year risk-free rates? Be precise with lots of decimals on your calculator!
Answer:
for two-years: 7.4988372%
for three years: 7.9969135%
Explanation:
the expectation theroy assumes the two year and three year rate will yield the same amount as th expected investment
thus the two-year rate will equivalent to 7% for the first year and then, the expected 8%
[tex](1+0.7)(1.08)=(1+r_{two-year})^2[/tex]
for two-years: 0.074988372 = 7.4988372%
for three years:
[tex](1.07)(1.08)(1.09) = (1 + r_{three-years})^3[/tex]
r3 = 0.079969135
With the assumptions of the Expectations Hypothesis, today's 2-year risk-free rate would be 7.5% and the 3-year risk-free rate would be 8%.
Explanation:Under the assumptions of the Expectations Hypothesis, the forward rates are equal to the future spot rates expected today. Therefore, the 2-year risk-free rate today would be the average of this year's risk-free rate (7%) and next year's expected risk-free rate (8%). This would average to 7.5%.
Then, the 3-year risk-free rate today would be the average of this year's rate (7%), next year's expected rate (8%), and the rate expected two years from now (9%). This would average to 8%. Please note that this calculation assumes that investors are risk-neutral and there is no risk premium. This is typically the assumption under the Expectation Hypothesis.
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Straight Packs manufactures backpacks. Its plant records include the following materials-related data:
Raw Materials Inventory, beginning balance
$31,000
Purchases of canvas, on account
66,000
Purchases of sewing machine lubricating oil, on account
1,100
Material requisitions:
Canvas
60,000
Sewing machine lubricating oil
450
Journalize the entries to record the transactions, post to the Raw Materials Inventory account, and determine the ending balance in Raw Materials Inventory.
Journalize the entries to record the transactions.
Begin by recording the journal entry for the purchases of materials. (Record debits first, then credits. Exclude explanations from any journal entries.)
Answer:
Journalize the entries to record the transactions.
Dr. Cr.
Raw Material Inventory $67,100
( 66,000 + 1,100 )
Account Payable $67,100
Work in Process $60,450
Raw Material Inventory $60,450
Raw Material Inventory Account
Dr. Cr. Balance
Opening Balance $31,000
Purchases (Canvas+oil) $67,100 $98,100
Work in Process $60,450 $37,650
Ending balance in Raw Materials Inventory is $37,650
Explanation:
Raw Material Inventory account is an asset account and Purchases are added in it. Material requisitions are made to transfer raw material from warehouse to other departments for processing so it is transferred to work in process account from Raw material Inventory account.
The journal entries provided will record the transactions and update the balances in the Raw Materials Inventory account.
Explanation:The journal entry to record the purchases of materials for Straight Packs would be:
Debit Raw Materials Inventory for $66,000 for the purchases of canvasDebit Raw Materials Inventory for $1,100 for the purchases of sewing machine lubricating oilCredit Accounts Payable for $66,000 for the purchases of canvas on accountCredit Accounts Payable for $1,100 for the purchases of sewing machine lubricating oil on accountThe journal entries to record the material requisitions would be:
Debit Work in Process Inventory for $60,000 for the requisition of canvasDebit Work in Process Inventory for $450 for the requisition of sewing machine lubricating oilCredit Raw Materials Inventory for $60,000 for the requisition of canvasCredit Raw Materials Inventory for $450 for the requisition of sewing machine lubricating oilThe journal entries provided will record the transactions and update the balances in the Raw Materials Inventory account.
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Following are the transactions of a new company called Pose-for-Pics.
Aug. 1 Madison Harris, the owner, invested $12,000 cash and $51,600 of photography equipment in the company in exchange for common stock.
2 The company paid $2,300 cash for an insurance policy covering the next 24 months.
5 The company purchased office supplies for $2,280 cash. 20 The company received $2,000 cash in photography fees earned.
31 The company paid $881 cash for August utilities.
Prepare an August 31 trial balance for Pose-for-Pics.
a. Debit Credit
b. Cash
c. Offices
d. Prepaid insurance
e. Photography equipment
f. Common stock
g. Photography fees earned
h. Utilities expense
i. Totals
Answer:
Pose-for-Pics
Trial Balance
For the month ended August 31
DEBIT CREDIT
b. Cash 8,539
c. Offices 2,280
d. Prepaid insurance 2,300
e. Photography equipment 51,600
f. Common stock 63,600
g. Photography fees earned 2,000
h. Utilities expense 881
i. Totals 65,600 65,600
Explanation:
In trial balance, all accounts in general either real or nominal is posted here whether on debit or credit side. It shows the balances of debits and credits entries from the transaction of the general journal that the company have made for the period. There are 2 types of trial balance, the unadjusted trial balance and the adjusted trial balance.
Which of the following is not an example of a cost and its related cost driver? Cost Cost Driver A. Rent Square feet B. Transportation Miles driven C. Direct labor hours Indirect labor D. Utilities Machine hours
Option C
Direct labor hours ; Indirect labor is not an example of a cost and its related cost driver
Explanation:
A cost driver triggers a variation in the price of the activity. The idea is everywhere ordinarily employed to allocate aloft prices to the abundance of built assemblies. It can further be related to activity-based costing inquiry to ascertain the circumstances of expenses, which can be done to depreciate overhead prices.
In unusual accounting systems, cost drivers are practically inapplicable in determining the enrichment, Quantity of set-ups, Amount of machine-hours, Amount of labor hours, Abundance of orders bound and uttered.
Diaz Company owns a milling machine that cost $125,100 and has accumulated depreciation of $93,400. Prepare the entry to record the disposal of the milling machine on January 3 under each of the following independent situations.
The machine needed extensive repairs, and it was not worth repairing. Diaz disposed of the machine, receiving nothing in return.
Diaz sold the machine for $17,000 cash.
Diaz sold the machine for $31,700 cash.
Diaz sold the machine for $40,500 cash.
Answer:
Diaz sold the machine for $17,000 cash.
Dr. Cr.
Cash $17,000
Accumulated Depreciation $93,400
Loss on Sale $14,700
Machinery (Asset) $125,100
Diaz sold the machine for $31,700 cash.
Dr. Cr.
Cash $31,700
Accumulated Depreciation $93,400
Machinery (Asset) $125,100
Diaz sold the machine for $40,500 cash.
Dr. Cr.
Cash $40,500
Accumulated Depreciation $93,400
Gain on sale $8,800
Machinery (Asset) $125,100
Explanation:
Diaz sold the machine for $17,000 cash.
Loss on Sale = 125,100 - 93,400 - 17,000 = -14,700
Diaz sold the machine for $31,700 cash.
Loss on Sale = 125,100 - 93,400 - 31,700 = 0
Diaz sold the machine for $40,500 cash.
Loss on Sale = 125,100 - 93,400 - 40,500 = 88,00
Which of the following is part of an economic model? A. norms B. opinions C. preferences of economic agents D. data
Answer:
The correct answer is letter "D": data.
Explanation:
Economic models are abstractions that aim to simplify real-world economic events. Economists base their hypothesis in data collected that allows thinking certain patterns are being repeated and are likely to let verify trends by which those events can be studied and dealt with if occurred again.
A 5-year corporate bond yields 9.70%. A 5-year municipal bond of equal risk yields 6.5%. Assume that the state tax rate is zero. At what federal tax rate are you indifferent between the two bonds?a. 25.40%
b. 29.03%
c. 32.99%
d. 33.98%
e. 27.38%
Answer:
c. 32.99%
Explanation:
Risk yield = bond yield*(1 - Federal tax rate)
6.50% = 9.70%*(1 - Federal tax rate)
1 - Federal tax rate = 6.50%/9.70%
Federal tax rate = 1 - 6.50%/9.70%
= 32.99%
Therefore, The federal tax rate that you are indifferent between the two bonds is 32.99%
Final answer:
At a federal tax rate of 32.99%, you would be indifferent between a 5-year corporate bond yielding 9.70% and a 5-year municipal bond yielding 6.5%, since this is the tax rate that makes the after-tax yield of the corporate bond equal to the tax-free yield of the municipal bond.
Explanation:
To determine at what federal tax rate you would be indifferent between a 5-year corporate bond yielding 9.70% and a 5-year municipal bond yielding 6.5%, we need to calculate the tax equivalent yield of the municipal bond. This can be found using the formula:
Tax Equivalent Yield = Municipal Bond Yield / (1 - Federal Tax Rate)
Since municipal bond interest is federally tax-free, we want to find the federal tax rate at which the after-tax yield of the corporate bond is equal to the tax-free yield of the municipal bond. Setting the corporate bond's after-tax yield to be equal to the municipal bond's yield and solving for the tax rate yields:
6.5% = 9.70% * (1 - Federal Tax Rate)
Solving for the federal tax rate gives:
Federal Tax Rate = (9.70% - 6.5%) / 9.70%
Calculating the above expression, we get:
Federal Tax Rate = 32.99%
So at a federal tax rate of 32.99%, you would be indifferent between the 5-year corporate bond and the 5-year municipal bond.
An increase in the foreign demand for U.S. wheat, combined with improved technology in U.S. wheat production, would cause the domestic equilibrium price of wheat to _________ and the equilibrium quantity to _________.
Answer:
An increase in the foreign demand for U.S. wheat, combined with improved technology in U.S. wheat production, would cause the domestic equilibrium price of wheat to remain unchanged (intermediate) and the equilibrium quantity to increase.
Explanation:
It is worthy of note that as the foreign demand for U.S wheat increases, there was a combined improvement in the technology used in the U.S wheat production. Hence it can be stated that as demand from foreign sources increased, the supply also increased to mop up the effect of this increase in demand, as a result, the domestic equilibrium price remains relatively unchanged. If the production rate had not increased along with demand, there would have been more demand than supply thus, the price of wheat would have increased. On the other hand, the equilibrium quantity of wheat increased due to the improvement in production technology.
Final answer:
An increase in foreign demand for U.S. wheat combined with improved technology in wheat production will likely lead to higher equilibrium quantity. The effect on the domestic equilibrium price of wheat can be ambiguous, as it depends on the relative magnitudes of demand increase and supply increase.
Explanation:
An increase in the foreign demand for U.S. wheat coupled with improved technology in wheat production affects the domestic equilibrium for wheat. Higher foreign demand would increase U.S. wheat exports, leading to a potential increase in the domestic equilibrium price of wheat because there's less supply available for domestic consumers. However, improved production technology increases supply which could mitigate this price increase and lead to a lower equilibrium price than without the technology improvement. As a result, the equilibrium quantity of wheat would increase due to the combined effect of increased foreign demand and a larger supply thanks to the improved technology.
If the U.S exported more to Mexico due to increased demand there, at the same time as U.S farmers are producing more efficiently, we would see conflicting pressures on the U.S. domestic price. Increased exports could raise prices, but higher efficiency could reduce them. Ultimately, the net effect on price could go either way depending on the relative magnitudes of demand increase and supply increase. The equilibrium quantity, on the other hand, is likely to increase, as the higher foreign demand coupled with greater production capacity results in more wheat being sold overall.
Relevance is a critical criterion in formulating a value claim for a positioning statement. The makers of Cialis, an erectile dysfunction (ED) drug, are considering a value claim that it "enhances intimacy and relationship." To assess the relevance of this claim, Cialis must determine if the claim: a. Is unique among value claims of competitor brands. b. Aligns with the specific needs of the target market. c. Can be endorsed by an authority figure or a celebrity. d. Is supportable by scientific evidence.
Answer:
Option D
Explanation:
Claim becomes valid and relevant if it has support of a scientific evidence.
How many months will it take to pay off a $470 debt, with monthly payments of $20 at the end of each month, if the annual interest rate is 15%, compounded monthly?
Answer:
28 month (approx)
Explanation:
Given
Present value = $470
Monthly Payment = $20
Interest Rate = 15% annual = 15% / 12 = 1.25% monthly
=0.0125
[tex]Present Value = PMT [\frac{1-(1+i)^{-n}}{i}] \\470 = 20 [\frac{1-(1+0.0125)^{-n}}{0.0125}]\\470/20 = [\frac{1-(1+0.0125)^{-n}}{0.0125}]\\23.5 \times 0.0125 =1-(1+0.0125)^{-n}\\1-0.29375= (1+0.0125)^{-n}\\0.70625 = (1+0.0125)^{-n}\\0.70625 =(1.0125)^{-n}\\0.70625= \frac{1}{(1.0125)^{n}}\\(1.0125)^{n}=1.4159292\\n=28(approx)[/tex]The following quote best describes ________. "The marvels of modern technology include the development of a soda can which, when discarded, will last forever, and a car, which when properly cared for, will rust out in two or three years."
A) planned obsolescence
B) product failure
C) deceptive promotions
D) deceptive packaging
E) excessive markups
Answer:
E)excessive markups
Explanation:
the car must was the must to the book
Final answer:
The quote describes planned obsolescence, a business strategy where products are designed to become obsolete quickly, forcing consumers to buy new ones. This practice is common in electronics and fashion, highlighting issues of environmental waste and economic consumption.
Explanation:
The quote “The marvels of modern technology include the development of a soda can which, when discarded, will last forever, and a car, which when properly cared for, will rust out in two or three years” best describes planned obsolescence. Planned obsolescence is a strategy used by companies to create products that are designed to become obsolete or unusable after a certain period, forcing consumers to purchase new ones. This concept is evident in various sectors, from electronics where smartphones and laptops are made with non-upgradeable components or batteries, to the fashion industry with goods like the nylon stockings that wear out quickly. On a wider scale, this practice has significant environmental and economic implications, encouraging a cycle of continuous consumption and waste.
Brief Exercise 4-08 In 2020, Kingbird Corporation reported net income of $1,171,600. It declared and paid preferred stock dividends of $265,400. During 2020, Kingbird had a weighted average of 209,100 common shares outstanding. Compute Kingbird 2020 earnings per share. (Round earnings per share to 2 decimal places, e.g. 1.48.) Kingbird 2020 earnings per share $enter Kingbird's 2017 earnings per share in dollars rounded to 2 decimal places
Answer:
$4.33 per share
Explanation:
Given that,
Net income = $1,171,600
Preferred stock dividends paid = $265,400
weighted average of common shares outstanding = 209,100
Therefore,
Earnings per share:
= (Net income - Preferred stock dividends paid) ÷ weighted average of common shares o/s
= ($1,171,600 - $265,400) ÷ 209,100
= $906,200 ÷ 209,100
= $4.33 per share
Hence, the Kingbird 2020 earnings per share is $4.33.
The last stage of Monsanto’s commercialization path involved Select one: a. sustainability as a corporate goal b. promises of further innovations c. competition from DuPont d. government restrictions
Answer:
The correct answer is c. competition from DuPont
Explanation:
A manager who allows employees to make the decisions necessary to face a rapidly changing environment promotes a culture, which emphasizes an internal focus on the participation of employees to adapt rapidly to change.
True or False?
Explanation:
Yes, the answer is in fact true
All of the following are ethical sources of data for external analysis EXCEPT: a. trade shows. b. a competitor's help-wanted advertisements. c. a competitor's confidential memos. d. a competitor's annual reports.
Answer:
c. a competitor's confidential memos.
Explanation:
Using a competitor's confidential memos for external analysis is not an ethical practice. To use confidential internal memos is unethical and it might be illegal in some situations because you might use an illegal and unethical way to obtain that information. All the other options Trade shows, Advertisements and annual report are the publicized data which could be used. Competitive Intelligence is a practice in the market to to gather competitor's data by using all the public information available which is legal and ethical too.
A competitor's confidential memos are not an ethical source of data for external analysis, unlike trade shows, help-wanted ads, and annual reports, which are publicly available and ethical to use.
The question asks which of the following is not an ethical source of data for external analysis: a. trade shows, b. a competitor's help-wanted advertisements, c. a competitor's confidential memos, d. a competitor's annual reports. The ethical sourcing of data is critical for maintaining professional integrity and adhering to legal standards in business practices. Ethical sources include publicly available information such as data from trade shows, help-wanted advertisements, and annual reports. These sources are openly accessible to the public and do not infringe upon privacy or proprietary rights.
Conversely, a competitor's confidential memos are not an ethical source of data for external analysis. These documents are considered proprietary and confidential, accessing them without permission constitutes a breach of privacy and can result in legal consequences as well as damage to professional relationships and reputation.
Therefore, the correct answer to the question is c. a competitor's confidential memos.
1. ABC Corporation acquires all of the assets and liabilities of XYZ Company, at a price that is significantly higher than the fair value of the identifiable net assets acquired. Four months after the acquisition, a fire destroys some of XYZ's property. How does ABC report this? A. ABC will report a loss on property in income. B. ABC will report more goodwill from the acquisition. C. ABC will not report this event. D. ABC will report less goodwill from the acquisition.
Answer:
A. ABC will report a loss on property in income
Explanation:
The fire made a physical impact on the assets of XYZ
The entry to report the fire in accounting will acknowledge the physical losses in XYZ assets.
Later, at year-end will check the goodwill for impartment and check if the outgoing busines s of XYZ still has that intangible value attached to it or not and, amortize the required amount.
ABC Corporation must report the loss from the fire as a loss on property in income. The loss does not directly impact previously recorded goodwill unless an impairment of the goodwill is specifically attributable to the event.
Explanation:When ABC Corporation acquires all of the assets and liabilities of XYZ Company for a price higher than the fair value of the identifiable net assets acquired, this creates goodwill on ABC's balance sheet. Goodwill represents the excess of the purchase price over the fair value of the net tangible and intangible assets. If, following the acquisition, a fire destroys some of XYZ's property, ABC Corporation must report the event as a loss. Therefore, the correct answer is A. ABC will report a loss on property in income.
This loss acknowledgement would appear as a decrease in the value of the property on ABC's balance sheet, and the company would recognize a loss on the income statement. The loss from the fire does not affect the amount of goodwill recorded earlier unless it is determined that the goodwill itself has been impaired as a direct result of the fire. If goodwill is found to be impaired, it may lead to an impairment charge, which would also be reported on the income statement, and the value of goodwill on the balance sheet would decrease accordingly.
Suppose that towns collect resources from their surroundings. Then, through trade, they attempt to obtain other desirable items. Mortarville, an urban town that specializes in brick and ore, wants wood to build roads so that it can expand and connect to other major cities. Mortarville has a willingness to pay $ 50 $50 for wood, since wood is hard for them to obtain. Mayflair also needs wood to build grain silos for their wheat harvests. Mayflair is willing to pay $ 45 $45 for wood. Timber, the only foresting company, sets the price of wood at $ 60 $60 . The change in total surplus that arises due to trades between TIMBER and and the tows is:________.
-less than zero
-equal to zero
-greater than zero
Answer:
-equal to zero
Explanation:
As the price for wood is above the demand is willing to pay there is no trade.
Either some of the participants will increase their demand and accept the price of 60 dollars; look for another supplier or look into producing for themselves
Also, Timber could lower the prce of wood so trade occurs.
The change in total surplus from the trades between Timber, Mortarville, and Mayflair is negative because Timber's price for wood exceeds both towns' willingness to pay, discouraging trade and decreasing the total surplus.
Explanation:The change in total surplus from the trades between Timber, Mortarville, and Mayflair is less than zero. This is due to the price Timber is charging for the wood it's higher than the willingness to pay of both towns (Mortarville is willing to pay $50 and Mayflar $45 while Timber is charging $60).
None of the towns will make a trade because the cost exceeds their willingness to pay leading to a decrease or negative change in total surplus. This is an example of how supply and demand can influence the market price and whether trades occur in an economy. The surplus is considered the benefit obtained from trading, but because the price is set too high and no trades are happening, there is no benefit, thus the total surplus is negative.
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Fixed Costs,or overhead,are expenses that are the same no matter how much product you sell. Identify the fixed costs for your cafe, estimate the monthly amount for each, and calculate the monthly total.
Answer:
Total cost = $14,720 per month.
Explanation:
There is a kiosk café near my house that runs for 40 hours a week and its fixed cost comprises of basically of rent and labour, it employs a Barista, a baker and a manager. Below is what the total fixed cost looks like
Rent = $8000 Per month
Labour (barista$8, baker$8 and manager$14 all per hour) = $6720(assuming a 160 working hours per month.
Therefore, the overhead cost is $14,720 per month.
Fixed costs for the cafe include rent, insurance, salaries, equipment leases, and utilities. Estimating these monthly expenses helps determine the business's stable operational costs, vital for financial planning.
In your cafe, fixed costs typically remain constant regardless of sales volume. Common fixed costs include rent or lease payments, insurance premiums, salaries of salaried employees, equipment leases, and utilities like internet and phone services.
To estimate the monthly amounts, tally up these expenses from your records or contracts. For instance, if your rent is $2,000, insurance is $300, and utilities cost $500 per month, the total fixed costs would be $2,800 monthly. This calculation helps you understand your baseline operational expenses, allowing you to plan your budget and pricing strategies effectively.
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Yvonne and Garret are looking at information about how their organization's products could fit potential customers' needs. This information deals with demographic characteristics, product benefits sought, lifestyles, geographic factors, brand preferences, and usage rates. They are most likely looking at
Answer:
a market segment profile.
Explanation:
A market segment profile -
It refers to the detailed information and analysis of the market on the wider range of aspects , is referred to as a market segment profile .
It helps of understand the factors in a better manner , which can be advantageous for the company or organisation .
The information is about the brand preference , geographical aspects , benefits of the products etc,.
Hence , from the given scenario of the question,
The correct term is a market segment profile .
George Kyparisis makes bowling balls in his Miami plant. With recent increases in his costs, he has a newfound interest in efficiency. George is interested in determining the productivity of his organization. He would like to know if his organization is maintaining the manufacturing average of a 3% increase in productivity. He has the following data representing a month from last year and an equivalent month this year: Last Year Now Cost Per Input UnitUnits Produced 1,000 1,000 Labor (hours) 280 255 $12Resin (pounds) 48 43 $5Capital Invested ($)9,000 10,000 1%Energy (BTU) 2,900 2,750 $0.50The percent change in productivity for one month last year versus one month this year on a multifactor basis with dollars as the common denominator = ___%?
Answer:
7.313%
Explanation:
In the problem above, the total cost for last year production is equivalent to the addition of labor cost, energy cost, capital cost, and material cost. Thus,
Total cost (last year) = (300*12) + (3000*0.6) + (9000*0.02) + (48*6) = 3600 + 1800 + 180 + 288 = 5868.
Last year productivity = unit produced/total cost = 1000/5868 = 0.17042
Total cost (this year) = (275*12) + (2850*0.60) + (10000*0.02) + (43*6) = 3300 + 1710 + 200 + 258 = 5468
This year productivity = 1000/5468 = 0.18288
%change in productivity = [(0.18288 - 0.17042)/0.17042]*100% = 7.313%
The percent change in productivity for one month last year versus one month this year on a multifactor basis with dollars as the common denominator is 7.313%
The calculation is as follows;
Total cost (last year) is
= (300 × 12) + (3000 × 0.6) + (9000 × 0.02) + (48 × 6)
= 3600 + 1800 + 180 + 288
= 5868.
Now
Last year productivity = unit produced ÷ total cost
= 1000 ÷ 5868
= 0.17042
Now
Total cost (this year) = (275 ×12) + (2850 ×0.60) + (10000 × 0.02) + (43 × 6)
= 3300 + 1710 + 200 + 258
= 5468
Now
This year productivity = 1000 ÷ 5468
= 0.18288
Now
%change in productivity = [(0.18288 - 0.17042) ÷ 0.17042]
= 7.313%
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"Cary’s Carpet Cleaning, Inc. purchased $10,000 of carpet cleaning equipment, paying $2,000 cash and giving an informal promise to pay $8,000 at the end of the month. On April 30, Cary’s Carpeting Cleaning pays $8,000 to the equipment supplier."Prepare the appropriate journal entry for the payment on April 30.
Answer:
Carpet Cleaning, Inc. purchased $10,000 of carpet cleaning equipment.
Cash paid = $2,000
Giving an informal promise to pay at the end of the month = $8,000
The journal entry is as follows:
On April 30,
Accounts payable A/c Dr. $8,000
To cash A/c $8,000
(To record the payment for the equipment on April 30.)
Consider the market for plane tickets to Hawaii. A bad winter in the mainland United States increases demand for tropical vacations, shifting the demand curve to the right. The supply curve stays constant. Total surplus will:
Answer:
Increase
Explanation:
Consumer surplus means the difference between the highest price a consumer is willing to pay and the actual market price of a product
Producer surplus means the difference between the market price and the lowest price a producer is willing to take for his product.
The addition of the two gives total surplus which is also known as economic surplus.
In economics, market price and quantity of a good are obtained when supply and demand curves intersect. The space before the intersection of the two curves is where the consumer is ready to pay higher than the price which suppliers is ready to a given quantity the good. There is therefore surplus for both of them at the market price.
If the demand curve shifts to the right while the supply curve remains constant, the market price will rise and this will lead to increase both consumer and producer surplus increase. By implication, total surplus will rise since it is the addition of both consumer and producer surplus.
Therefore, total surplus will increase if a bad winter in the mainland United States increases demand for tropical vacations, which shifts the demand curve to the right while the supply curve stays constant.
I wish you the best.
Answer:
increase because both consumer and producer surplus increase
Jim was a crook. He embezzled $450,000 from his employer. When his employer found out about his misdeeds, before even conducting a thorough investigation, he went and gave all the details to a local newspaper agency. The next day Jim read his own story, with his own name, in the newspaper. Which of the following is correct? a. Publishing the story in the newspaper was a wrong thing to do because Jim's family will be embarrassed. b. Jim may have been misrepresented in the story by the newspaper agency and the company might face legal consequences. c. The company did the right thing by publishing Jim's identity in the newspaper because it punished him for stealing as well as served a warning to his neighbors who might also be at the risk of being defrauded. d. The company should not have put Jim's name and story in the paper because when other employees will come to know about it, they might leave the organization.
Answer:
b. Jim may have been misrepresented in the story by the newspaper agency and the company might face legal consequences.
Explanation:
Jim has the right to take legal action against the company for releasing the story. The investigation had not been completed and all facts had not been established by the company.
Also the newspaper did not contact Jim to get his own side of the story before publishing, that could have revealed pertinent information about the case.
In the context of strategic approaches to international staffing, which of the following is TRUE of the ethnocentric policy? a. This policy primarily aims at easing transfer of policies from subsidiary to headquarters. b. This policy encourages host-country nationals to staff key positions. c. This policy primarily encourages third-country nationals to fill key positions. d. This policy supports the view that managers from headquarters should staff key positions.
Answer:
d. This policy supports the view that managers from headquarters should staff key positions.
Explanation:
ethnocentric policy refers to employing managers based at headquarters
of the multinational company for heading the subsidiary units at different countries instead of employing local managers at local level units.
Find the amount to which $600 will grow under each of these conditions: 12% compounded annually for 8 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ 12% compounded semiannually for 8 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ 12% compounded quarterly for 8 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ 12% compounded monthly for 8 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ 12% compounded daily for 8 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ Why does the observed pattern of FVs occur
Answer:
1. = $1,485.58
2. = $1,524.21
3. = $1,545.05
4. = $1,559.56
Explanation:
The amount the $600 will grow can be calculated using the following compounding formula:
A = P × [1 + (r ÷ n)]^nt ............................................. (1)
where:
P = Initial or original amount = $600
A = new amount
r = interest rate = 12% = 0.12
n = compounding frequency
t = overall length of period the interest is applied
Equation can then be applied as follows:
1. For 12% compounded annually for 8 years
P = Initial or original amount = $600
r = interest rate = 12% = 0.12
n = compounding frequency = annually = 1
t = overall length of period the interest is applied = 8
Therefore,
A = $600 × [1 + (0.12 ÷ 1)]^(1 × 8)
= $600 × [1 + (0.12)]^8
= $600 × (1.12)^8
= $600 × 2.47596317629481
= $1,485.58
2. For $12% compounded semiannually for 8 years.
P = Initial or original amount = $600
r = interest rate = 12% = 0.12
n = compounding frequency = semiannually = 2
t = overall length of period the interest is applied = 8
Therefore,
A = $600 × [1 + (0.12 ÷ 2)]^(2 × 8)
= $600 × [1 + (0.06)]^16
= $600 × (1.06)^16
= $600 × 2.54035168468567
= $1,524.21
3. For $12% compounded semiannually for 8 years.
P = Initial or original amount = $600
r = interest rate = 12% = 0.12
n = compounding frequency = quarterly = 4
t = overall length of period the interest is applied = 8
Therefore,
A = $600 × [1 + (0.12 ÷ 4)]^(4 × 8)
= $600 × [1 + (0.03)]^32
= $600 × (1.03)^32
= $600 × 2.57508275568511
= $1,545.05
4. For $12% compounded monthly for 8 years.
P = Initial or original amount = $600
r = interest rate = 12% = 0.12
n = compounding frequency = quarterly = 12
t = overall length of period the interest is applied = 8
Therefore,
A = $600 × [1 + (0.12 ÷ 12)]^(12 × 8)
= $600 × [1 + (0.01)]^96
= $600 × (1.01)^96
= $600 × 2.59927292555939
= $1,559.56
The observed pattern of FVs occur because of the different compounding frequency.
All the best.
The following information is available for the preparation of the government-wide financial statements for the City of Southern Springs as of April 30, 2017:
Cash and cash equivalents, governmental activities $3,640,000
Cash and cash equivalents, business-type activities 832,000
Receivables, governmental activities 615,000
Receivables, business-type activities 1,259,000
Inventories, business-type activities 492,000
Capital assets, net, governmental activities 10,030,000
Capital assets, net, business-type activities 10,740,000
Accounts payable, governmental activities 615,000
Accounts payable, business-type activities 624,000
Noncurrent liabilities, governmental activities 5,160,000
Noncurrent liabilities, business-type activities 3,039,000
Net position, net investment in capital assets, governmental activities 4,870,000
Net position, net investment in capital assets, business-type activities 7,701,000
Net position, restricted for debt service, governmental activities 714,000
Net position, restricted for debt service, business-type activities 211,000
From the above information, prepare a Statement of Net Position for the City of Southern Springs as of April 30, 2017.
The Statement of Net Position for the City of Southern Springs includes cash and cash equivalents, receivables, capital assets, accounts payable, noncurrent liabilities, and net position for both governmental and business-type activities.
Explanation:Statement of Net Position for the City of Southern Springs as of April 30, 2017
Governmental Activities:
Cash and cash equivalents: $3,640,000Receivables: $615,000Capital assets, net: $10,030,000Accounts payable: $615,000Noncurrent liabilities: $5,160,000Net position, net investment in capital assets: $4,870,000Net position, restricted for debt service: $714,000Business-Type Activities:
Cash and cash equivalents: $832,000Receivables: $1,259,000Inventories: $492,000Capital assets, net: $10,740,000Accounts payable: $624,000Noncurrent liabilities: $3,039,000Net position, net investment in capital assets: $7,701,000Net position, restricted for debt service: $211,000Learn more about Statement of Net Position here:https://brainly.com/question/32370618
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The T-account balance sheet for the bank lists reserves, government bonds, and loans as assets, totaling $620. The only liability listed is deposits at $400. The bank's net worth, calculated as total assets minus total liabilities, is $220.
Explanation:Bank's T-Account Balance SheetTo create a T-account balance sheet for the bank, we list assets on the left side and liabilities plus equity on the right side:
AssetsReserves: $50Government Bonds: $70Loans: $500Liabilities and EquityDeposits: $400The net worth or equity of the bank is the difference between the total assets and total liabilities. In this case:
Total Assets = $50 (reserves) + $70 (bonds) + $500 (loans) = $620
Total Liabilities = $400 (deposits)
Net Worth (Equity) = Total Assets - Total Liabilities = $620 - $400 = $220
Therefore, the bank's net worth is $220.
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What are some events that have significantly influenced and changed the sport industry? Please explain.
Answer: WORLD WAR 1 AND II
BICYCLE CRAZE
ENDORSING.
Explanation:World war 1 is also known as the FIRST WORLD WAR it took place between 1914-1918, it made sports Competition popular among soldiers such as Football, Athletics etc the love of sports led to the creation of leagues among soldiers and war criminals. World war II significantly affected the sports as.moat of the plays were called-off,sports men were recruited to fight etc.
The bicycle craze had a great significant in sports as the urge for bicycle rasing started immediately after the invention of bicycles in the 1800s.
ENDORSING have impacted sports greatly as many multinationals have been involved in endorsing spots men and women,this has helped to increase the urge for sporting activities.
The sport industry has been significantly influenced by the establishment of professional leagues, worldwide sporting events like the Olympic games, and advancements in technology such as broadcast media and digital platforms.
Explanation:There are several key events that have significantly influenced the sport industry. The establishment of professional leagues like the NFL, NBA, and FIFA strongly altered the business structure of sports, prompting a shift from an amateur outlook to a professional one. Furthermore, the inception of worldwide sport events such as the Olympic games has a profound impact on international unity and diversity, economically and culturally. Lastly, advancements in technology have played an indispensable role in the evolution of sports, enhanced performances, created new sports, and revolutionized the experience for spectators with broadcast media and digital platforms.
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When Target Corporation attempted to expand into the Canadian market in 2013 to establish itself as an international firm, it was adopting a stance toward the global retail environment.
Answer:
proactive
Explanation:
The Target Corporation tried to be proactive in nature instead of just relying on the response to an unsuitable market conditions. The company created a series of proactive measures for the global retail environment. This helped the company to be able to respond to the change in the conditions of the Canadian market due to change in demand and supply.