Answer:
Notes Receivables 40,000 debit
Sales revenue 40,000 credit
-- to record the sale and the accepted promissory note--
interest receivables 1,000 debit
interest revenue 1,000 credit
--to adjust for interest at year-end ---
Cash 41,500 credit
Notes Receivables 40,000 credit
Interest receivables 1,000 credit
Interest revenue 500 credit
--to record the maturity and honor of the note--
If we didn't make the adjusting entr. the 2021 income will be understated by 1,000 and the 2022 overstated by 1000
as we assing the 6 month of interest from 2021 into 2022 accounting period.
Explanation:
We record the sales reveneu for the nominal. over time we are going to accrue interest.
principal x rate x time = interest
we should express rate and time in the same metric, in this case as teh rate is annual we express time in portion of a year (X month / 12)
Adjusting entry at year-end
40,000 x 5% x 6 /12 = 1,000 interest revenue
At maturity:
40,000 x 5% x 3/12 = 500 interest revenue
And we have to write-of the note receivable and the interest receivables.
1) Journal Entry to Record Sale of Merchandise on June 30, 2021: Accounts Receivable - 40,000, Sales – 40,000. 2. Journal Entry for December 31, 2021 Interest Accrual: Interest Receivable - 1000, Notes Receivable - 40000 and Cash – 41000. 2) Income before income taxes will be understated by $1,000 in 2021 and there will be no impact on income before income taxes in 2022.
Part 1: Prepare Journal Entries
1. Journal Entry to Record Sale of Merchandise:
[tex]\[ \text{Accounts Receivable} \quad \quad \quad 40,000 \][/tex]
[tex]\[ \text{Sales} \quad \quad \quad \quad \quad \quad \quad 40,000 \][/tex]
To record the sale of merchandise on June 30, 2021.
2. Journal Entry for December 31, 2021 Interest Accrual:
To calculate interest accrued from June 30, 2021, to December 31, 2021:
[tex]\[ \text{Interest} = \text{Principal} \times \text{Annual Interest Rate} \times \text{Time} \][/tex]
Where:
Principal = $40,000
Annual Interest Rate = 5% = 0.05
Time = 6/12 = 0.5 year (from June 30 to December 31)
[tex]\[ \text{Interest Accrued} = 40,000 \times 0.05 \times 0.5 = 1,000 \][/tex]
Journal entry to record the interest accrual:
[tex]\[ \text{Interest Receivable} \quad \quad \quad 1,000 \][/tex]
[tex]\[ \text{Interest Revenue} \quad \quad \quad \quad 1,000 \][/tex]
To accrue interest revenue for the period from June 30, 2021, to December 31, 2021.
3. Journal Entry for March 31, 2022 Collection:
On March 31, 2022, the note plus accrued interest will be collected:
[tex]\[ \text{Accounts Receivable} \quad \quad \quad 41,000 \][/tex]
[tex]\[ \text{Interest Receivable} \quad \quad \quad \quad \quad \quad (1,000) \][/tex]
[tex]\[ \text{Notes Receivable} \quad \quad \quad \quad \quad \quad (40,000) \][/tex]
[tex]\[ \text{Cash} \quad \quad \quad \quad \quad \quad \quad \quad \quad 41,000 \][/tex]
To record the collection of the note and interest on March 31, 2022.
Part 2: Impact on Income Before Income Taxes
If the adjusting entry for the interest accrual on December 31, 2021, is not prepared, the impact on income before income taxes in 2021 and 2022 would be as follows:
2021:
Without the interest accrual entry, interest revenue of $1,000 would not be recognized.
Income before income taxes in 2021 would be understated by $1,000.
2022:
If the interest accrual is not adjusted, there would be no impact on 2022 since the interest would be recognized upon collection.
10. ABC Company uses a job-order costing system and computes its predetermined overhead rate annual on the basis of direct labor-hours. At the beginning of 2018, it estimated the direct-labor hours for the upcoming year to be 10,000 direct labor-hours. ABC Company also estimated $50,000 of fixed overhead and $40,000 of variable overhead for the year. The actual fixed overhead for the year was $60,000, and the actual variable overhead was $35,000. The actual labor-hours for the year turned out to be 9,000. Compute the predetermined overhead rate for 2018.
Answer:
Predetermined overhead rate is $9 per labor hour
Explanation:
Estimated Direct-labor hours = 10,000
Estimated Manufacturing overheads = Estimated Fixed overheads + Estimated variable overheads
Estimated Manufacturing overheads = $50,000 + $40,000
Estimated Manufacturing overheads = $90,000
Predetermined overhead rate = Estimated Manufacturing overheads / Estimated Direct-labor hours
Predetermined overhead rate = 90,000 / 10,000 = $9 per labor hour
The valuation of an MNC should rise when an event causes the expected cash flows from foreign to ____ and when foreign currencies denominating these cash flows are expected to ____.
Answer:
Decrease, Depreciate.
Explanation:
Suppose the American Medical Association announces that men who shave their heads are less likely to die of heart failure. We could expect the current demand for Question 34 options: a) hair gel to increase. b) razors to increase. c) combs to increase.
Answer:
b) razors to increase.
Explanation:
The announcement by the American Medical Association will cause an increase in demand for razors since the perception will be men that shave their hair are less likely to die of heart attack.
There will be a shift in demand to the right, resulting in increase in demand at all prices.
A shift in demand occurs when other factors except for price causes a change in demand of a good.
The shift in demand is illustrated in the attached diagram.
If a firm's expected growth rate increased then its required rate of return would a. increase. b. possibly increase, possibly decrease, or possibly remain constant. c. decrease. d. fluctuate more than before. e. fluctuate less than before.
Answer:
The correct answer is option (B).
Explanation:
According to the scenario, the rate of return would possibly increase, possibly decrease, or possibly remain constant because of the following reasons :
In an organization, the rate of return depends on many terms i.e stock rate, dividends, etc. The rate of return increases when dividends do not increase with the growth rate. The rate of return decreases when dividends increase with the growth rate.
You just got hired as a quality intern for a small startup making 3D printers. Each printer uses a number of small motors and one of your jobs is to make sure that these motors, received from a small supplier, meet your RPM (revolutions per minute) specifications. The supplier sends you an mean chart (x-bar chart) with each batch of motors to show you that the average RPMs for each batch meets your specifications. Notwithstanding this information from the supplier, you are seeing some unexpected inconsistent performance among the motors within each batch. What should be your first step to help you and the supplier get to the bottom of this issue?
You just got hired as a quality intern for a small startup making 3D printers. Each printer uses a number of small motors and one of your jobs is to make sure that these motors, received from a small supplier, meet your RPM (revolutions per minute) specifications. The supplier sends you an mean chart (x-bar chart) with each batch of motors to show you that the average RPMs for each batch meets your specifications. Notwithstanding this information from the supplier, you are seeing some unexpected inconsistent performance among the motors within each batch. What should be your first step to help you and the supplier get to the bottom of this issue?
A. Make sure the supplier's manufacturing process is capable of meeting your design specifications
B. Instruct the supplier to send you a range chart with each batch and to not send you any more mean charts
C. In addition to a mean chart, have the supplier create and send you a range chart with each batch
D. Have the supplier create and send you a p-chart with each batch so that you can understand what proportion of all motors are bad
Answer:
Option C is correct.
Explanation:
Range chart is also known as a variable control chart which the range of the subgroup is used to establish instantaneous variation and used to evaluate how stable the variability is.
An investment will pay $200 at the end of each of the next 3 years, $300 at the end of Year 4, $500 at the end of Year 5, and $800 at the end of Year 6. If other investments of equal risk earn 5% annually, what is its present value? Round your answer to the nearest cent. $ 2255.30 What is its future value? Round your answer to the nearest cent. $ 3022.32
Answer:
Present value = $1,780.20
Future value = $2,385.64
Explanation:
Years Annual cash flows Discount factor @5% Present value
1 $200.00 0.9523809524 $190.48
2 $200.00 0.9070294785 $181.41
3 $200.00 0.8638375985 $172.77
4 $300.00 0.8227024748 $246.81
5 $500.00 0.7835261665 $391.76
6 $800.00 0.7462153966 $596.97
Present value $1,780.20
Now the future value is
Future value = Present value × (1 + interest rate)^number of years
= $1,780.20 × (1 + 0.05)^6
= $1,780.20 × 1.3400956406
= $2,385.64
Franco breeds a wide variety of fish. For the last nine years he has been going to Fins-to-You, a local pet store that specializes in tropical fish and aquarium supplies, for all of his needs. He buys everything from fish food to aquarium heaters to replacement fish from this store. Which of the following terms best describes the relationship Franco has with Fins-to-You?
functional relationship
Functional relationship best describes the relationship Franco has with Fins-to-You.
Explanation:
A functional relationship connects roles or administrative structures at varying management categories based on the specialization aspect of a role for which equal responsibility is exchanged.
The relationship between time and distance is a true example of a functional relationship. We are all mindful that travel distances take time and it takes some time to do so when we drive some distance (or stand still). A practical interaction is the relationship between distance and time.
Nadal Corporation manufactures custom molds for use in the extrusion industry. The company allocates manufacturing overhead based on machine hours. Selected data for costs incurred for Job 532 are as follows: Direct materials used $ 5 comma 100 Direct labor cost $ 36 comma 900 Predetermined manufacturing overhead rate based on machine hours $ 18 Direct labor hours worked 4 comma 000 Machine hours used 230 What is the manufacturing cost of Job 532?
Answer:
Manufacturing cost of job 532 = $46140
Explanation:
Given Data:
Direct Material Cost= $5,100
Direct Labor Cost=$36,900
Predetermined manufacturing overhead rate based on machine hours=$18
Direct labor hours worked =4,000
Machine hours used= 230
Required:
Manufacturing cost of Job 532=?
Solution:
Manufacturing cost=Direct Material Cost+Direct Labor Cost+(Manufacturing overhead rate * Machine hours used)
Manufacturing cost= $5,100+$36,900+($18*230)
Manufacturing cost= $46140
The total manufacturing cost of Job 532 is $46,140, calculated by adding up the costs of direct materials ($5,100), direct labor ($36,900), and manufacturing overhead ($4,140).
Explanation:The total manufacturing cost for Job 532 includes the costs of direct materials, direct labor and overhead. The direct materials cost is $5,100 and direct labor cost comes to $36,900. The predetermined overhead rate is $18 per machine hour, therefore the overhead cost is the predetermined rate times the number of machine hours used, which equals to $18 x 230 = $4,140. Once you add up these three costs, you'll have the total manufacturing cost of Job 532, which is $5,100 (Direct material) + $36,900 (Direct labor) + $4,140 (Overhead) = $46,140.
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g Salmont Corporation uses the FIFO method in its process costing system. The company reported 28,000 equivalent units of production for materials last month. The company's beginning work in process inventory consisted of 7,500 units, 40% complete with respect to materials. The ending work in process inventory consisted of 5,500 units, 70% complete with respect to materials. The number of units started during the month was:
Answer:
25,150 units
Explanation:
The question is to determine the number of production units that were started during the month.
Note that the company uses the First In First Out method for Process costing
Description Units in Process completion (%) Equivalent
completed (units)
The Equivalent Units 28,000 100 28,000
Subtract:
Opening Work-in- progress 7,500 60 4,500
Closing Work in Progress 5,500 70 3,850
Equivalent Units Started and Completed 19,650
Step 2: Equivalent Units Started
= Eqivalent Units started and completed + Total Ending Units
= 19,650 + 5,500 = 25,150 units
Guggenheim offers a bond with annual payments and a coupon rate of 5 percent. The yield to maturity is 5.62 percent and the maturity date is 9 years away. What is the market price of a $1,000 face value bond?
Answer:
$957.12
Explanation:
In this question we have used the formula of the present value which is shown in the attachment
The NPER is a time period and the PMT is the monthy payments
Provided that,
Future value = $1,000
Rate of interest = 5.62%
NPER = 9 years
PMT = $1,000 × 5% = $50
The formula is shown below:
= -PV(Rate;NPER;PMT;FV;type)
So, after solving this, the answer is $957.12
You have a partnership stake in a business that pays you equal payments of $3,000 at the end of each year for the next seven years. If the annual interest rate stays constant at 6%, what is the value of these payments in today’s dollars? Round your answer to the nearest whole dollar. $16,747 $17,752 $14,235 $20,934
Answer:
The correct answer is A.
Explanation:
Giving the following information:
You have a partnership stake in a business that pays you equal payments of $3,000 at the end of each year for the next seven years. The annual interest rate stays constant at 6%.
To calculate the present value we need to use the ner present value formula:
NPV= ∑[Cf/(1+i)^n]
Cf= cash flow
For example:
Year 1= 3,000/1.06^1
Year 3= 3,000/1.06^3
Year 6= 3,000/1.06^6
NPV= $16,747.14
The value of the partnership's annual payments of $3,000 for seven years at a 6% interest rate, when calculated as the present value of an annuity, is roughly $16,747.
Explanation:This question pertains to the calculation of the present value of a series of equal annual payments, also known as an annuity. The present value (PV) is calculated as PV = Pmt / i * (1 - (1 + i)^-n), where 'Pmt' represents the value of each annual payment, 'i' the annual interest rate, and 'n' the number of years or payments. In this case, Pmt = $3,000, i = 0.06 (6% expressed as a decimal), and n = 7 years. Substituting these values in, we get PV = $3,000 / 0.06 * (1 - (1 + 0.06)^-7), which equates to approximately $16,747.
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Direct materials for the month amounted to $111,500. Direct labor for the month was $206,500. During the month, 12,500 units were produced. Required: a. No changes are expected in these cost relations next month. The firm has budgeted production of 16,250 units. Provide an estimate for total production cost for next month. b. Determine the cost per unit of production for the previous month and the next month.
Answer:
1. Total Production Cost = $413400
2. Cost per unit of production for the previous month = $25.44
Cost per unit of production for the next month = $25.44
Explanation:
GIVEN:
Direct Material for 12,500 unit = $111,500
Direct Labor for 12,500 unit = $206,500
Calculate:
Direct Material for 16,250 unit = $111,500*16,250/12,500 = $144,950
Direct Labor for 16,250 unit = $206,500*16,250/12,500 = $268,450
Total Production Cost = Direct labor + Direct materials + Factory OverheadsTotal Production Cost = $144,950 + $268,450
Total Production Cost = $413,400
Cost per unit of production = Total Production Cost / Total unit
For Previous month = ($111,500 + $206,500) / 12,500
= $318000/ 12,500
= $25.44
For Next month = ($413400) / 16,250
= $25.44
Item10 Time Remaining 24 minutes 35 seconds00:24:35Item 10Item 10 Time Remaining 24 minutes 35 seconds00:24:35A(n) ________ includes people who work together and possess similar skills or use the same knowledge, tools, or techniques to perform their jobs.
Answer:
A function
Explanation:
A function is defined as a set of activities carried out by a particular department that involves process initiation, transform information, and follow procedures to give an output.
Business functions encourage specialisation, examples include cash management, invoicing, loan disbursement,customer care and so on.
If an organization needs to plan for resumption and cannot justify the expense of an exclusive-use strategy, it can choose a shared-use option.
A(n) ____________________ operates like an exclusive-use site but it is leased in conjunction with a business partner or sister organization.
A time-share operates like an exclusive-use site but it is leased in conjunction with a business partner or sister organization.
Explanation:
Time-share is one of the shared-use resumption strategy. It is the leased site shared with organizations to provide assistance in case of disasters.More than one organization may use the site simultaneously.Company C expects to have sales of $12 million. Costs other than depreciation are expected to be 75% of sales, and depreciation is expected to be $1.5 million. All sales revenues will be collected in cash, and costs other than depreciation must be paid for during the year. The company's federal plus state tax rate is 40% and it has no debt. What is Company C's expected cash flow
Answer:
Company C's expected cash flow is $2,400,000
Explanation:
Costs other than depreciation of Company C = 75% x $12,000,000 = $9,000,000
Income before tax = Sales - Costs other than depreciation - Depreciation expense = $12,000,000 - $9,000,000 - $1,500,000 = $1,500,000
The company's federal plus state tax rate is 40%,
Tax = $1,500,000 x 40% = $600,000
Company C's expected cash flow = Sales - Costs other than depreciation - Tax = $12,000,000 - $9,000,000 - $600,000 = $2,400,000
Note: Depreciation is a non-cash accounting expense, so it doesn't involve cash flow
Suppose Waterman Cable Company lent $125,000 to Comcast. On December 31, 2015, Comcast paid back the $125,000 and also paid $3,000 interest to Waterman Cable Company. Under U.S. GAAP, what would be the impact of the repayment on Waterman Cable Company's statement of cash flows using the direct method? a. The $125,000 would be shown as an increase in the funds in the Financing Section but the $3,000 would be shown as an increase in the Investing Section.b. The $128,000 would be shown as an increase in the funds in the Operating Section.c. The $125,000 would be shown as an increase in the funds in the Investing Section but the $3,000 would be shown as an increase in the Operating Section.d. The $128,000 would be shown as an increase in the funds in the Investing Section.
Final answer:
Under U.S. GAAP, the repayment of the loan principal would appear as an increase in the Investing Section, while the interest received would be reflected in the Operating Section of Waterman Cable Company's statement of cash flows.
Explanation:
The repayment of a loan by Comcast to Waterman Cable Company would affect the statement of cash flows for Waterman Cable Company under U.S. GAAP. When using the direct method, the repayment of the principal amount of the loan ($125,000) would be reflected as an increase in the Investing Section of the cash flow statement. This is because the principal repayment of a loan made to another entity is considered an investing activity. On the other hand, the interest received ($3,000) is considered an operating activity, as it is part of the company's primary revenue-generating activities, and thus it would be shown as an increase in the Operating Section.
Therefore, the correct answer to the student's question is C. The $125,000 would be shown as an increase in the funds in the Investing Section, but the $3,000 would be shown as an increase in the Operating Section.
The _____ depicts the degrees and kinds of involvement a consumer brings to the purchase decision for different products. It also recognizes that people can be cognitively and affectively involved at the same time.
Answer: Kim-Lord model
Explanation: Some purchases made by consumers require a high degree of involvement such as cars, mobile phones etc on both cognitive and affective levels. Others do not. This phenomenon is explained by the Kim-Lord grid model of cognitive response from highly effective advertisements. The model states that purchase related decisions of consumers are based on or is highly influenced by affective and cognitive factors and that all aspects of advertising should be focused on these areas.
A building owner is evaluating the following alternatives for leasing space in an office building for the next five years:
(a) Net lease with steps. Rent will be $15 per square foot the first year and will increase by $1.50 per square foot each year until the end of the lease. All operating expenses will be paid by the tenant.
(b) Net lease with CPI adjustments. The rent will be $16 psf the first year. After the first year, the rent will be increased by the amount of any increase in the CPI. The CPI is expected to increase by 3 percent per year.
(c) Gross lease. Rent will be $30 psf each year with the lessor responsible for payment of all operating expenses. Expenses are estimated to be $9 psf during the first year and increase by $1 psf per year thereafter. Gross lease with expense stop and CPI adjustment. Rent will be $22 the first year and increase by the full amount of any change in the CPI after the first year with an expense stop at $9 psf. The CPI and operating expenses are assumed to change by the same amount as outlined above.
How would you rank the alternatives in terms of risk to the property owner?
Answer:
Explanation:
The lease rent that depends upon CPI rate and operating expenses has more risk than normal increase in value rent alternatives. Reason being that CPI can be increased or decreased in future and this will affect the builder's cashflow.
Likewise, operating expense is also an increase or decrease because the builder's cashflow can increase or decrease .
The risk level of all the four alternatives is shown below
Net lease with steps- Less risky
Net lease with CPI - Highly risky
Gross lease - Moderately risky
Gross lease with CPI - Highly risky
Leasing alternatives are ranked from lowest to highest risk based on cost predictability and expense responsibility. Net leases present less risk to property owners, while gross leases with operating expense responsibilities are riskier. Leases with CPI adjustments offer moderate risk due to potential variability in inflation.
Explanation:The ranking of lease alternatives in terms of risk to the property owner depends primarily on the volatility of costs and the certainty of revenue over time. For instance:
Net lease with steps: This lease has increasing rent but transfers all operating expenses to the tenant, representing a lower risk since the income increases over time, and there's no risk associated with operating costs.
Net lease with CPI adjustments: This lease option also transfers all operating expenses to the tenant and adjusts rent based on CPI, which can be more uncertain depending on inflation rates, resulting in moderate risk.
Gross lease: The owner is responsible for operating expenses, which increases the risk if these expenses rise faster than the fixed rent received.
Gross lease with expense stop and CPI adjustment: This mitigates risk by having an expense stop, but variability in the CPI still introduces some risk.
In these scenarios, a step lease tends to offer more predictability and thus lower financial risk. The gross lease poses the highest risk since the owner must absorb any increases in operating expenses beyond the first year. Lastly, leases tied to the CPI can vary in risk depending on economic conditions.
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Which of the following circumstances must be present for departmental overhead allocation to be favored over a traditional overhead allocation method? A. Each department incurs different types and amounts of manufacturing overhead. B. Each product, or job, uses the department to a different extent. C. Both A & B D. None of the above. Traditional overhead allocation is more accurate than departmental overhead allocation.
Answer:
B. Each product, or job, uses the department to a different extent.
Explanation:
Departmental overhead rates uses a standard charge that is based on produced units attributed to a department.
Costs are applied with high precision.
When this model is used, the standard rate is multiplied by the number of units produced in the department, so there is no over allocation of resources.
For example if we consider the hours a machine operates. With a standard rate of $10 per hour, machine operation of 6 hours will give $10* 6 hours= $60
Department B had a beginning inventory balance of 150 units. During the accounting period, the department started an additional 950 units and 975 units were completed and transfered out. Department B had an ending balance of ________ units.
Answer:
Department B had an ending balance of 125 units.
Explanation:
Ending inventory balance of Department B = beginning inventory balance + additional units - transfered out units.
Department B had a beginning inventory balance of 150 units. During the accounting period, the department started an additional 950 units and 975 units were completed and transfered out.
Ending inventory balance of Department B = 150 + 950 - 975 = 125 units
Answer :
Department B had an ending balance of 125 units.
What units are made by the department of inventory balance.?Explanation :
As per the question, the Ending inventory balance of the Department of B equals to the beginning of inventory balance plus the additional units minus the transferred out units.
Department B has a beginning inventory balance of about 150 units. At period, the department started with 950 units, and the 975 units were completed. Hence the ending inventory balance of
Department B = 150 + 950 - 975 = 125 units.
Find out more information about the inventory.
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Which of the following is true of strategic plans? a. They are developed by middle- and lower-level managers b. They have a short time horizon. c. They have specific and concrete focus.
Answer:C
Explanation:
They have specific and concrete focus
A strategic plan is typically developed by top-level management, has a long-term focus, and provides a broad outline of the company's goals and how they can be achieved
Explanation:Strategic plans are typically developed by top-level executives and decision-makers in a company, so, option 'a' might not be entirely true. A strategic plan generally has a long-term perspective, usually 3 to 5 years or even more, hence, statement 'b' is not accurate. Option 'c' is also not completely accurate because a strategic plan is not typically very specific or concrete, it is often general and broad, providing a big picture outlook for the company it is planned for.
A strategic plan is a document used by businesses to outline their overall goals and the steps they plan to take to achieve these goals. The plan serves as a roadmap for the organization and helps to align the various parts of the organization. It's a critical tool for guiding the decisions and actions of the business and ensuring that everyone is on the same page.
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ne day, Barry the Barber, Inc., collects $400 for haircuts. Over this day, his equipment depreciates in value by $50. Of the remaining $350, Barry sends $30 to the government in sales taxes, takes home $220 in wages, and retains $100 in his business to add new equipment in the future. From the $220 that Barry takes home, he pays $70 in income taxes. Based on his information, compute Barry's contribution to the following measures of income: gross domestic product, net national product, national income, personal income, disposable personal income.
Answer:
a) $400 b)$350 c) $350 d)$220 e) $150
Explanation:
The question is divided into 5 parts:
Part a) Determine the Gross Domestic Product Contribution by Barry's company
GDP represents a total of goods and services consumed within a nation's borders within a certain period of time. Barber, Inc contribution is the value of haircut service rendered to the citizens which is $400
Part b) Net National Product This represents Barry's total income when the depreciation is subtracted from the income.
Income is $400 and equipment depreciation is $50
Net national Product = $400 - $50 = $350
Part c) Barber Inc's contribution to national income: The national income represents the total income earned by the resident of a country and it is usually calculated as the same value as the Net National Product. The contribution to national income = $350
Part d) Personal Income: this is seen as Barry the Barber, inc's income. The figure usually excludes indirect business taxes as well as retained earnings. The formula is= national Income - Retained earnings - Sales tax
= $350- 100-30 = $220
Part e) Disposable Personal Income: This represents the income left to a business after it has paid government dues such as personal taxes.
It is calculated as Personal Income- personal tax
=220-70 = $150
According to economic historians, modern economic growth first happened in a. 1776, when Scottish inventor James Watt perfected a powerful and efficient steam engine b. 1701, when Jethro Tull Invented the seed drill. c. 1765, when Ell Whitney invented the cotton gin. d. 1776, when the American colonies declared their freedom.
Modern economic growth is attributed to the perfection of the steam engine by James Watt in 1776, marking the start of the Industrial Revolution by transitioning from manual to mechanized production.
Explanation:According to economic historians, modern economic growth first happened in 1776, when Scottish inventor James Watt perfected a powerful and efficient steam engine. This invention marked a pivotal moment in history, as it catalyzed the Industrial Revolution, transforming manufacturing processes and transportation. Watt’s steam engine not only made it possible to operate machinery without relying on water power or manual labor but also played a crucial role in improving the production and use of iron, facilitating a surge in industrial productivity and economic growth across Britain and eventually the world.
The choices provided in the question highlight various significant inventions and historical events, but the direct answer aligns with the advancements brought about by James Watt’s steam engine. This invention encapsulates the essence of the Industrial Revolution, making option a the correct answer. It underscores the transition from manual labor to mechanized production, representing a leap towards modern economic dynamics and industrialization.
Phil, a quality assurance expert, recently left his position in the automotive industry and now works in construction equipment manufacturing. He needs to become familiar with who his company's competitors are, their competitive advantages, their locations, their product lines, and anything else he can learn about them. Phil is seeking ____________.
A. core competency
B. trade secrets
C. competitive intelligence
D. a means-end chain
E. corporate espionage
Answer:
C. competitive intelligence
Explanation:
Phil is seeking competitive intelligence because he is trying to find important information about the company's competitors.
The main reason why is tasked with finding information about competitor's locations, advantages and product lines is because his company wants to use that information for their own advantage, in order to gain a competitive edge over the other companies, or close the gap in case it is lagging behind.
Answer:
The correct answer is letter "C": competitive intelligence.
Explanation:
Competitive intelligence refers to the process of gathering external information in an attempt to improve a company's competitive advantage. That information is mainly related to the activity of competitors and the surrounding environment of the business which can also help to identify opportunities and threats.
You just won $70,000 on a scratch-off lottery ticket. You plan to save the money in a retirement account expected to return 8% per year. If you intend to retire in 45 years, how much are these lottery winnings expected to be worth when you retire? a. $942,089 b. $2,234,431 c. $4,788,067 d. $1,260,147 e. $2,615,364
Answer:
The correct answer is B.
Explanation:
Giving the following information:
You just won $70,000 on a scratch-off lottery ticket. You plan to save the money in a retirement account expected to return 8% per year.
The number of years is 45.
We need to use the following formula for future value:
FV= PV*(1+i)^n
FV= 70,000*(1.08)^45= $2,234,431.46
Tamarisk Leasing Company signs a lease agreement on January 1, 2017, to lease electronic equipment to Carla Vista Company. The term of the non-cancelable lease is 2 years, and payments are required at the end of each year. The following information relates to this agreement:1. Carla Vista has the option to purchase the equipment for $24,500 upon termination of the lease. It is not reasonably certain that Carla Vista will exercise this option.2. The equipment has a cost of $290,000 and fair value of $319,000 to Tamarisk Leasing. The useful economic life is 2 years, with a residual value of $24,500.3. Tamarisk Leasing desires to earn a return of 5% on its investment.4. Collectibility of the payments by Tamarisk Leasing is probable.Prepare the journal entries on the books of Tamarisk Leasing to reflect the payments received under the lease and to recognize income for the years 2017 and 2018. (
Answer:
a. $46,000
see the other answers in the explanation
Explanation:
(a) Fair value of leased asset to lessor $245,000
Less: Present value of unguaranteed residual value $24,335 X .63017
(present value of 1 at 8% for 6 periods) $15,335
Amount to be recovered through lease payments $229,665
Six periodic lease payments $229,665 ÷ 4.99271 $46,000*
*Present value of an annuity due of 1 for 6 periods at 8%.
b.
(c)
1/1/17
Lease Receivable 245,000
Cost of Goods Sold 229,665
Sales Revenue 229,665
Inventory 245,000
1/1/17
Cash 46,000
Lease Receivable 46,000
12/31/17
Lease Receivable 15,920
Interest Revenue 15,920
1/1/18
Cash 46,000
Lease Receivable 46,000
12/31/18
Lease Receivable 13,514
Interest Revenue 13,514
Juan Garza invested $112,000 10 years ago at 8 percent, compounded quarterly. How much has he accumulated? Use Appendix A for an approximate answer but calculate your final answer using the formula and financial calculator methods. (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
Answer:
$247,300
Explanation:
Given that
Invested amount = Present value = $11,2000
Time = 10 years × 4 quarter = 40
The rate = 8% ÷ 4 = 2%
So, we have to applying the future value formula which is presented below:
Future value = Present value × (1 + interest rate)^ time period
= $112,000 × (1 + 0.02)^40
= $112,000 × 1.02^40
= $112,000 ×2.2080396636
= $247,300
To calculate the amount accumulated by Juan Garza, we can use the formula for compound interest and the financial calculator method. The final amount accumulated by Juan Garza is approximately $251,829.05.
Explanation:To calculate the amount accumulated by Juan Garza, we can use the formula for compound interest: A = P(1 + r/n)^(nt), where A is the final amount, P is the principal (initial investment), r is the annual interest rate (as a decimal), n is the number of times the interest is compounded per year, and t is the number of years. In this case, P = $112,000, r = 0.08 (8% as a decimal), n = 4 (quarterly compounding), and t = 10 years.
Using the formula: A = 112000(1 + 0.08/4)^(4*10), we can calculate the final amount accumulated by Juan Garza.
Financial Calculator Method:
Using a financial calculator, we can input the values P = $112,000, r = 8%, n = 4, and t = 10, and calculate the accumulated amount directly.
Approximate Answer using Appendix A:
If you're looking for an approximate answer, you can use the values from Appendix A. From Appendix A, you can find the factor for 8% compounded quarterly over 10 years, which is approximately 2.208.
Final Calculation:
Using the formula: A = 112000(1 + 0.08/4)^(4*10), we find that the final accumulated amount by Juan Garza is approximately $251,829.05.
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how would you handle a situation in which the supervisor of another department approaches you with a strong complaint about one of your employees?
Answer:
i would ask for more proof and check on that employee
Explanation:
To issue new guidelines and opinions regarding employment practices that result from newly passed laws, t the Equal Employment Opportunity Commission (EEOC) frequently uses the _____.
Answer:
The correct answer is "Federal Register"
Explanation:
In the Federal Register we can find the rules of government agencies and public notices.
This is an approach that the government uses so that people have knowledge about new laws and regulations, requirements and guidance of the government. All proposed and approved government regulations are published in the Federal Register. For this reason, the Equal Employment Opportunity Commission is based on the Federal Register.
Which of the following is an example of haptic perception? a. A consumer smelling a new brand of perfume b. A consumer touching a new brand of bath towels c. A consumer watching a new video game in the market d. A consumer enjoying the ambiance at a store e. A consumer listening to a new audio clip in the market
Answer:
Correct Answer is "B"
b. A consumer touching a new brand of bath towels
Explanation:
To understand the answer, we should know about the meaning of Haptic Perception
It means ability to hold or grasp something.
Haptic perception refers to our sense of touch. In the given context, the example related to haptic perception would be a consumer touching a new brand of bath towels.
Explanation:In the context of the given question, haptic perception refers to the ability to interpret the world around us through the sense of touch. Hence, an example of haptic perception would be a consumer touching a new brand of bath towels. This involves feeling the texture of the towel, which is a key aspect of haptic perception. Other senses such as smelling, watching, enjoying ambiance, or listening are not related to haptic perception because they do not involve the sense of touch.
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