Answer:
The remedies which Frank may not obtain from Cynthia if he prevails in his Anticybersquatting Consumer Protection Act action is:
a. attorney fees and costs
Explanation:
This is because the Anticybersquatting Consumer Protection Act (ACPA) provides that courts may award attorneys' fees for violations of the Act in "exceptional cases" under Section 1117(a). The Anticybersquatting Consumer Protection Act was enacted on November 29, 1999. The law applies to all domain names whether they were registered before the enactment date or after. The Act aims to avoid confusion in domain name registrations.
Suppose Becky earns $650 per week working as an analyst for A-plus Accountants. She uses $10 to order a mojito cocktail at Little Havana. Little Havana pays Alex $250 per week to wait tables. Alex uses $250 to purchase tax services from A-Plus Accountants.
Identify whether each of the following events in this scenario occurs in the resource market or the product market.
a. Alex earns $250 per week working for Little Havana. (Resource Market / Product Market)
b. Becky spends $10 to order a mojito cocktail. (Resource Market / Product Market)
c. Becky earns $650 per week working for A-Plus Accountants. (Resource Market / Product Market)
Which of the elements of this scenario represent a flow from a household to a firm? This could be a flow of dollars, inputs, or outputs. Check all that apply.
( ) The mojito Becky receives
( ) The $250 Alex spends to purchase tax services from A-Plus Accountants
( ) The $250 per week Alex earns working for Little Havana
( ) Becky's labor
Answer:
Resource Market or Product Market
1. Identifying whether each of the following events in this scenario occurs in the resource market or the product market:
a. Alex earns $250 per week working for Little Havana. (Resource Market / Product Market)
b. Becky spends $10 to order a mojito cocktail. (Resource Market / Product Market)
c. Becky earns $650 per week working for A-Plus Accountants. (Resource Market / Product Market)
2. The elements of this scenario that represent a flow from a household to a firm are:
a. The $250 Alex spends to purchase tax services from A-Plus Accountants.
b. Becky's labor
Explanation:
The resource market is the market where firms buy resources for the production of goods and services. This means that the resource market deals in the transfer of inputs: labor, capital, land, and entrepreneurship from households to firms. In the product market, households buy output, i.e. goods and services from firms.
In a market without price controls, producers can charge the _____, so that consumers will buy all of their products. I Need Help Please!!
surplus price
shortage price
equilibrium price
Answer:
equilibrium price
Explanation:
At the equilibrium point, the market does not experience a shortage or excess in either demand or supply. The quantity demanded matches the quantity supplied. The equilibrium price is the price at the equilibrium point where demand and supply meet.
Because there are no shortages or excesses at the equilibrium point, suppliers will sell all their products if they set a selling price equal to the equilibrium price. Buyers will purchase all the quantities supplied at the equilibrium price.
Discuss the entrepreneurial management demands?
Answer:
Entrepreneurial management varies from managing established corporations.
Explanation:
Entrepreneurs must manage the affairs of a startup giving attention to all of the new paperwork filings (ig. Filing corporate charter, articles of incorporation, business license, dba, etc) in a timely manner while getting their new business off the ground. In addition to these tasks, the demands of managing everyday business still scream for attention.
The entrepreneurial demands are the concerns that affect managers of businesses. Some of them include;
Establishing the visions and goals of the business, putting a strategy in place to grow, obtaining capital and funding for the business, acquiring the right human resources to run the business, and setting up a good organizational structure.To run a business effectively, entrepreneurs have several demands of the business that they must settle. Some of these include;
The vision and goals of the business: Putting this in place helps the business to always stay on track and stick to its goals.Business strategy: To stand out from their competition, a strategy ought to be established.Funding: No business runs without money. The entrepreneur must always evaluate the important resources that should be financed to run effectively.Human resources: The right and qualified people should be employed to help in running the business.Organizational Structure: The managers, accountants, assistants, etc., must be drawn up in a good organizational structure profile. This will help people to know their seniors and subordinates and address matters accordingly.Learn more here:
https://brainly.com/question/21012374
The unit of measure concept a.is only used in the financial statements of manufacturing companies b.requires that economic data be reported in yen in Japan or dollars in the United States c.requires that different units be used for assets and liabilities d.is not important when applying the cost concept
Answer: b.requires that economic data be reported in yen in Japan or dollars in the United States
Explanation:
The unit of measure concept simply has to do with the standard convention that is used whereby there must be thesame currency used in recording transactions that takes place.
The concept requires that economic data be reported in yen in Japan or dollars in the United States. Therefore, the correct option is A.
Taylor Company received a gift of land and building from the town of Saunderstown as an inducement to relocate there. The land and buildings have fair values of $39,000 and $395,000. Prepare the appropriate journal entry for this transaction.
Answer:
See below
Explanation:
The donation will increase the assets and the owners' equity. Land and building are assets. An increase in assets is debited.
Donations received are equivalent to 'income' to the business. They add to equity. An increase in equity/capital accounts is credited.
The journal entry will be
Land A/c DR. $39,000
Building A/c DR.$395,000
Donations received A/c CR.$434,000
The Most recent financial statements for Moose Tours, Inc., appear below. Sales for 2016 are projected to grow by 20 percent. Interest expense will remain constant; the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, fixed assets, and accounts payable increase spontaneously with sales.
2015 Income Statement
Sales $751,000
Costs $586,000
Other Expenses$ 22,000
Earings before Interest and taxes $143,000
Interest Expense $18,000
Taxable Income $125,000
Taxes (40%) $50,000
Net Income $75,000
Dividends $30,000
Addition to retained earnings $45,000
Balance Shhet as of December 31,2015
Assets
Current Assets
Cash $21,040
Accounts Receivable $33,360
Inventory $70,230
Total $ 124,720
FIxed Assets
Net Plant and equipment $240,000
Total Assets $364,720
Liabilities and Owner;s Equity
Current liablities
Accouts Payable $55,200
Notes Payable $14,400
Total $69,600
Long Term Debt $134,000
Owners equity
Common Stock and paid in surplus $120,000
Retained Earnings $41,420
Total $161,120
Total liabilities and owner's equity $364,720
If the firm is operating at full capacity and no new debt or equity is issued, what external finaning is needed to support the 20 percent growth rate in sales?
Answer:
$5,006.07
Explanation:
The external financing needed = Projected Increase in Assets - Increase in Liabilities - Increase in Retained Earnings
Projected Increase in Asset = Assets Value*Sales Growth Rate
Projected Increase in Assets = $364,720 * 20%
Projected Increase in Assets = $72,944
Increase in Liabilities = Liabilities * Sales Growth Rate
Increase in Liabilities = $69,600 * 20%
Increase in Liabilities = $13,920
To calculate the Increase in Retained Earning, the below calculations are needed:
a. Profit Margin Rate = Net Income / Sales * 100
Profit Margin Rate = 75,000 / 751,000 * 100
Profit Margin Rate = 9.99%
b. Dividend Payout Ratio = Dividend / Net Income * 100
Dividend Payout Ratio = 30,000 / 75,000 * 100
Dividend Payout Ratio = 0.4
Dividend Payout Ratio = 40%
Retention Rate = 1 - Dividend Payout Ratio
Retention Rate = 1 - 0.40
Retention Rate = 0.60
Retention Rate = 60%
c. Expected Sales = $751,000 * 1.20 = $901,200
So, the Increase in Retained Earning = Expected Sales * Profit Margin * Retention Rate = $901,200 *9.99% * 60% = $54,017.93
Therefore, External Fund Needed = $72,944 - $13,920 - $54,017.93 = $5,006.07
Schedule of Cost of Goods Manufactured and Sold
The following amounts are available for 2016 for Bourne Manufacturing Company:
Administrative salaries (non-factory) $105,000
Administrative rent (non-factory) 52,500
Advertising and promotion expense 61,500
Depreciation-administrative 33,000
Depreciation-factory 45,000
Depreciation-selling 25,500
Direct labor 262,500
Factory rent 27,000
Factory supplies used 18,000
Finished goods inventory (January 1) 85,500
Finished goods inventory (December 31) 78,000
Indirect material used 21,000
Indirect labor 28,500
Materials inventory (January 1) 19,500
Materials inventory (December 31) 30,000
Net delivered cost of materials purchased 207,000
Other factory overhead 39,000
Sales 1,267,500
Sales salaries expense 108,000
Work in process inventory (January 1) 27,000
Work in process inventory ( December 31) 46,500
Using the above data, prepare a schedule of cost of goods manufactured and sold.
Do not use negative signs with any of your answers.
Bourne Manufacturing Company
Schedule of Cost of Goods Manufactured and Sold
For the Year Ended December 31,2016
Direct material:
Beginning materials inventory Answer
Answer Answer
Cost of material available Answer
Less: Answer Answer
Total materials used Answer
Less: Answer Answer
Direct material used Answer
Direct labor Answer
Manufacturing overhead
Indirect material Answer
Indirect labor Answer
Factory supplies used Answer
Factory depreciation Answer
Factory rent Answer
Answer Answer
Total manufacturing overhead Answer
Total manufacturing costs for the year Answer
Add: Answer Answer
Total cost of work in process during the year Answer
Less: Answer Answer
Cost of goods manufactured Answer
Add: Answer Answer
Cost of goods available for sale Answer
Less: Answer Answer
Cost of goods sold Answer
Answer:
Answer:
Cost of goods sold Answer 604,500
Explanation:
Bourne Manufacturing Company
Schedule of Cost of Goods Manufactured and Sold
For the Year Ended December 31,2016
Direct material:
Beginning materials inventory Answer (January 1) 19,500
Net delivered cost of materials purchased 207,000
Cost of material available Answer : 226500
Less: Materials inventory (December 31) 30,000
Total materials used Answer 196500
Less: Indirect material used 21,000
Direct material used Answer 175,500
Direct labor Answer 262500
Manufacturing overhead
Other Factory Overhead 39000
Indirect material Answer 21000
Indirect labor Answer 28500
Factory supplies used Answer 18000
Factory depreciation Answer 45000
Factory rent Answer 27000
Total manufacturing overhead Answer 178500
Total manufacturing costs for the year Answer 616500
Add: Work in process inventory (January 1) 27,000
Total cost of work in process during the year 643,500
Less: Work in process inventory ( December 31) 46,500
Cost of goods manufactured 597000
Add: Finished goods inventory (January 1) 85,500
Cost of goods available for sale Answer 682,500
Less: Finished goods inventory (December 31) 78,000
Cost of goods sold Answer 604,500
We add and subtract the amounts according to the schedule.
In this schedule the indirect material is deducted from the direct materials inventory and added to the factory overhead because it is not treated as a direct expense rather it is an indirect expense.
The following are not related to the cost of manufacturing of products and are excluded from the CGS.
Administrative salaries (non-factory) $105,000
Administrative rent (non-factory) 52,500
Advertising and promotion expense 61,500
Depreciation-administrative 33,000
Depreciation-selling 25,500
Sales 1,267,500
Sales salaries expense 108,000
These are included in the net income statement.
Ed Flavorman, the chief executive of Flavor Best Ice Cream, believes that alternativeplans are almost as important as the primary operational plans because the market is so competitive and unpredictable. Ed endorses:
a. tactical planning.
b. retroactive planning.
c. concurrent planning.
d. contingency planning.
Answer:
D) contingency planning.
Explanation:
from the question we are informed about Ed Flavorman, the chief executive of Flavor Best Ice Cream, who believes that alternativeplans are almost as important as the primary operational plans because the market is so competitive and unpredictable. In this case Ed endorses contingency planning. Contingency planning can be regarded as a type of plan that is been set for an outcome instead of setting it up for usual plan. It is plan that is devices in risk management, and it is usually used by government as well as Businesses
Splish Brothers Inc. reported a net loss of $14400 for the year ended December 31, 2022. During the year, accounts receivable decreased $33600, inventory increased $24000, accounts payable increased by $36000, and depreciation expense of $28800 was recorded. During 2022, operating activities:_____.
a. used net cash of $17,000.
b. used net cash of $29,000.
c. provided net cash of $24,000.
d. provided net cash of $21,000.
who is the billionair peson in the whole world?
i'll gave 50 points
Answer:
Thank you very much
Explanation:
Hello
When growth is driven by factors inside the economy, it is said to be:_______
a. endogenous.
b. exogenous.
c. random.
d. unsustainable.
e. based on luck.
Answer: a. endogenous.
Explanation:
Endogenous growth refers to a phenomenon where growth in the economy is driven by internal factors instead of external ones.
The theory surrounding this type of growth supports investment in human capital in a nation because it believes that if the government and the private sector were to invest in human capital, there would be internal economic growth as the labor will become more productive.
Swifty Design was founded by Thomas Grant in January 2011. Presented below is the adjusted trial balance as of December 31, 2020.
SWIFTY DESIGN
ADJUSTED TRIAL BALANCE
DECEMBER 31, 2020
Debit Credit
Cash $11,210
Accounts Receivable 21,710
Supplies 5,210
Prepaid Insurance 2,710
Equipment 60,210
Accumulated Depreciation-Equipment $35,210
Accounts Payable 5,210
Interest Payable 168
Notes Payable 5,600
Unearned Service Revenue 5,810
Salaries and Wages Payable 1,416
Common Stock 10,210
Retained Earnings 3,710
Service Revenue 61,710
Salaries and Wages Expense 11,510
Insurance Expense 966
Interest Expense 518
Depreciation Expense 7,600
Supplies Expenses 3,400
Rent Expense 4,000
1) Prepare an income statement for the year ending December 31, 2020, Statement of Retained Earnings, Balance Sheet and
2) If the note has been outstanding 6 months, what is the annual interest rate on that note?
3) If the company paid $17,500 in salaries and wages in 2014, what was the balance in Salaries and Wages Payable on December 31, 2013?
Answer:
Swifty Design
1. Income Statement for the year ended December 31, 2020:
Service Revenue $61,710
Salaries and Wages Expense 11,510
Insurance Expense 966
Interest Expense 518
Depreciation Expense 7,600
Supplies Expenses 3,400
Rent Expense 4,000 $27,994
Net income $33,716
b) Statement of Retained Earnings for the year ended December 31, 2020:
Retained Earnings, January 1, 2020 $3,710
Net income 33,716
Retained Earnings, December 31, 2020 $37,426
c) Balance Sheet as of December 31, 2020:
Assets
Current assets:
Cash $11,210
Accounts Receivable 21,710
Supplies 5,210
Prepaid Insurance 2,710
Total current assets $40,840
Long-term assets:
Equipment 60,210
Accumulated depreciation 35,210 $25,000
Total assets $65,840
Liabilities + Equity:
Liabilities:
Accounts Payable $5,210
Interest Payable 168
Notes Payable 5,600
Unearned Service Revenue 5,810
Salaries and Wages Payable 1,416
Total liabilities $18,204
Equity:
Common Stock $10,210
Retained Earnings 37,426 $47,636
Total liabilities + equity $65,840
2. The annual interest would be $518 according to accrual basis of accounting.
3. If the company paid $17,500 in salaries and wages in 2014 (2020), the balance in Salaries and Wages Payable on December 31, 2013(2019) was $7,406.
Explanation:
SWIFTY DESIGN
ADJUSTED TRIAL BALANCE
DECEMBER 31, 2020
Debit Credit
Cash $11,210
Accounts Receivable 21,710
Supplies 5,210
Prepaid Insurance 2,710
Equipment 60,210
Accumulated Depreciation-Equipment $35,210
Accounts Payable 5,210
Interest Payable 168
Notes Payable 5,600
Unearned Service Revenue 5,810
Salaries and Wages Payable 1,416
Common Stock 10,210
Retained Earnings 3,710
Service Revenue 61,710
Salaries and Wages Expense 11,510
Insurance Expense 966
Interest Expense 518
Depreciation Expense 7,600
Supplies Expenses 3,400
Rent Expense 4,000
Totals $129,044 $129,044
Salaries and Wages:
Wages payable, 12/31/2019 $7,406
Salaries expense 11,510
Cash paid in 2020 17,500
Wages Payable, 12/31/2020 $1,416
This is usually a written description of the objectives to be achieved, with a brief statement of the work to be done and a proposed schedule specifying the start and completion dates.
a. Work breakdown structure
b. Task Project milestone
c. Statement of work
d. Work package
Answer:
c. Statement of work
Explanation:
Statement of work is usually a written description of the objectives to be achieved, with a brief statement of the work to be done and a proposed schedule specifying the start and completion dates.
This ultimately implies that, it is a written document that provides detailed information about set objectives and goals to be achieved by a business firm or company. It is essentially important for the growth and development of a business.
Crystal Industries is considering an expansion project with cash flows of -$325,000, $167,500, $216,100, $104,500, and -$92,700 for years 0 through 4. Should the firm proceed with the expansion based on the discounting approach to the modified internal rate of return if the discount rate is 13.4 percent
Answer:
Crystal Industries
NPV = $7,1005.51
The firm should proceed with the expansion because the project will yield a positive net present value.
Explanation:
a) Data and Calculations:
Discount rate = 13.4%
Discount factor = 1/(1 + r)∧n
Calculation of the Net Present Value:
Years Cash flows Discount Factor Present value
0 -$325,000 1 -$325,000.00
1 $167,500 0.8818 147,701.50
2 $216,100 0.7776 168,039.36
3 $104,500 0.7001 73,160.45
4 -$92,700 0.6174 -56,800.80
NPV = $7,100.51
b) Crystal's net present value (NPV) is the difference between the present value of its cash inflows and the present value of its cash outflows over the project's 4 years. The NPV is usually determined in capital budgeting and investment planning as a financial evaluation tool when analyzing the positivity of a project's cash flows. It discounts the future cash flows to today's dollar values, taking into consideration the time value of money.
Joe must pay liabilities of 1,000 due 6 months from now and another 1,000 due one year from now. There are two available investments which may be purchased in any amount:
6-month bond with face amount of 1,000, 8% nominal annual coupon rate convertible semiannually, and 6 nominal annual yield rate convertible semiannually.
1-year bond with face amount of 1,000, 5% nominal annual coupon rate convertible semiannually, and 7% nominal annual yield rate convertible semiannually.
What is the annual effective yield rate for the investment in the bonds required to exactly (absolutely) match the liabilities?
a. 6.5%
b. 6.6%
c. 6.7%
d. 6.8%
e. 6.9%
Answer:
d. 6.8%
Explanation:
The one year bond has a coupon rate of 5% per year.
- For 6 months in order to have a payment of 1000 we need a face value of 1000/1.025 = 975.61.
- Coupon payments of 975.61 x .025 = 24.39 at time 0.5 and time 1,
- Payment of the par amount of 975.61 at time 1.
Total cash flow = 1000.
We compute the price of these bonds by discounting their cash flows at their yields:
1-year bond: Price = 24.39 x 1.035^-1 + 1000 x 1.035^-2 = 957.08
6-month bond: Price = 975.61 x 1.03^-1 = 947.19
Total Price = 957.08 + 947.19
Total Price = 1904.27
So, the required yield for the combined cash flows can be found by solving:
1904.27 = 1000v + 1000v^2
EffectIve rate per 6 months = 3.3332%
Annual effective yield basis = 1.03332^2 - 1
Annual effective yield basis = 1.0677502224 - 1
Annual effective yield basis = 0.0677502224
Annual effective yield basis = 6.8%
Denver Mart is considering a project with a life of 5 years and an initial cost of $136,000. The discount rate is 11 percent. The firm expects to sell 2,200 units a year with a cash flow per unit of $26. The firm will have the option to abandon this project after 3 years at which time it expects it could sell the project for $48,000. The firm is interested in knowing how the project will perform if the sales forecast for Years 4 and 5 of the project are revised such that there is a probability of 50 percent that the sales will be 1,000 units and a probability of 50 percent they will be 2,500 units a year. What is the net present value of this project given your sales forecasts?
Answer:
Denver Mart
The net present value of this project given the sales forecasts is:
= $98,400.40
Explanation:
a) Data and Calculations:
Project's estimated life = 5 years
Initial project cost = $136,000
Discount rate = 11%
Initial estimated sales = 2,200 at $26
Revenue in years 1, 2, and 3 each = 2,200 * $26 = $57,200
Sales forecast of Year 4 and 5 revised to 1,750 units
Probability of 1,000 * 50% = 500
Probability of 2,500 * 50% 1,250
Total sales forecast = 1,750 units
Revenue in years 4 and 5 each = 1,750 * $26 = $45,500
Present value of revenue:
Year 1, 2, and 3 = $57,200 * Annuity factor
= $57,200 * 3.102 = $177,434.40
Year 4, PV = $45,500 * 0.659 = $29,984.50
Year 5, PV = $45,500 * 0.593 = $26,9815
Year 1 to 5 added = $234,400.40
Present value of revenue = $234,400.40
Present value of costs = 136,000.00
Net present value = $98,400.40
Zugar Company is domiciled in a country whose currency is the dinar. Zugar begins 2017 with three assets: cash of 28,200 dinars, accounts receivable of 82,000 dinars, and land that cost 220,000 dinars when acquired on April 1, 2016. On January 1, 2017, Zugar has a 170,000 dinar note payable, and no other liabilities. On May 1, 2017, Zugar renders services to a customer for 140,000 dinars, which was immediately paid in cash. On June 1, 2017, Zugar incurred a 120,000 dinar operating expense, which was immediately paid in cash. No other transactions occurred during the year. Currency exchange rates for 1 dinar follow:
April 1, 2016 $0.53 = 1 dinar
January 1, 2017 0.56 = 1
May 1, 2017 0.57 = 1
June 1, 2017 0.59 = 1
December 31, 2017 0.61 = 1
Assume that Zugar is a foreign subsidiary of a U.S. multinational company that uses the U.S. dollar as its reporting currency. Assume also that the dinar is the subsidiary’s functional currency. What is the translation adjustment for this subsidiary for the year 2017?
Assume that Zugar is a foreign subsidiary of a U.S. multinational company that uses the U.S. dollar as its reporting currency. Assume also that the U.S. dollar is the subsidiary’s functional currency. What is the remeasurement gain or loss for 2017?
Assume that Zugar is a foreign subsidiary of a U.S. multinational company. On the December 31, 2017, balance sheet, what is the translated value of the Land account? On the December 31, 2017, balance sheet, what is the remeasured value of the Land account?
(Input all amounts as positive.)
Answer:
Accounts Amount (in Dinar)
Cash_________________28,000
Accounts Receivable_____82,000
Land________________220,000
Total Assets__________330.000
Less: Notes Payable___(170,000)
Net Assets___________160,000
The translation adjustment for this subsidiary for the year 2017?
Particulars Amount in Dinar Translation Rate Amount in Dollar
Net assets, 1/1_______160,000__________0.50_______80,000
Add: Rendered services_140,000________0.57________79,000
Less: Incurred expense _(120,000)________0.59_______(70,800)
Net assets, 12/31_______180.000___________________88,200
Net assets, 12/31 at current__180,000______0.61_______109.800
Translation adjustment (positive) ____________________(21,600)
What is the remeasurement gain or loss for 2017
Particulars Amount in Dinar Translation Rate Amount in Dollar
Net Monetary Asset, 1/1 __28,000________0.56_______15,680.00
Add: Rendered services_140,000________0.57________79,000
Less: Incurred expense _(120,000)________0.59_______(70,800)
Add:Accounts Receivable_80,000________0.56______44,800
Less: Accounts Payable_(170,000)________0.56_____(95,200)
Net monetary assets, 12/31_(42,000)______________(26,540.00)
Net monetary assets, 12/31 at current exchange rate
(42,000)_________0.61____(25,620)
Remeasurement gain - - 920.00
Translated value of land is $134,200 ( derived from 220,000 dinar x 0.61)
Remeasured value of land is $116,600 (derived from 220,000 dinar x 0.53)
Explanation:
Accounts Amount (in Dinar)
Cash_________________28,000
Accounts Receivable_____82,000
Land________________220,000
Total Assets__________330.000
Less: Notes Payable___(170,000)
Net Assets___________160,000
The translation adjustment for this subsidiary for the year 2017?
Particulars Amount in Dinar Translation Rate Amount in Dollar
Net assets, 1/1_______160,000__________0.50_______80,000
Add: Rendered services_140,000________0.57________79,000
Less: Incurred expense _(120,000)________0.59_______(70,800)
Net assets, 12/31_______180.000___________________88,200
Net assets, 12/31 at current__180,000______0.61_______109.800
Translation adjustment (positive) ____________________(21,600)
What is the remeasurement gain or loss for 2017
Particulars Amount in Dinar Translation Rate Amount in Dollar
Net Monetary Asset, 1/1 __28,000________0.56_______15,680.00
Add: Rendered services_140,000________0.57________79,000
Less: Incurred expense _(120,000)________0.59_______(70,800)
Add:Accounts Receivable_80,000________0.56______44,800
Less: Accounts Payable_(170,000)________0.56_____(95,200)
Net monetary assets, 12/31_(42,000)______________(26,540.00)
Net monetary assets, 12/31 at current exchange rate
(42,000)_________0.61____(25,620)
Remeasurement gain - - 920.00
Translated value of land is $134,200 ( derived from 220,000 dinar x 0.61)
Remeasured value of land is $116,600 (derived from 220,000 dinar x 0.53)
The following balances have been taken from the general ledger for CCC Manufacturing Company:
Raw Materials Inventory (1-12-2014)
Rs. 40,000
Raw Material Purchases
190,000
Raw Materials Returns
9,000
Carriage Inwards
15,000
Direct Labor
250,000
Indirect Labor
60,000
Depreciation (Machinery)
30,000
Hear, Light and Power
25,000
Factory Rent and Taxes
31,000
Factory Repairs Expense
19,000
Foreman ‘s Salary
25,000
Raw Material (31-12-2014)
58,000
Work in Process (1-12-2014
63,000
The foreman estimates that Rs. 32,000 of Raw Materials and Rs. 25,000 of Direct Labor are to be allocated to the unfinished goods in process on 31-12-2014.
Determine the FOH Rate based on direct labor cost.
Answer:
FOH rate based on direct labor cost is 22.8%.
Explanation:
The computation of the factory overhead rate based on the direct labor cost is as follows:
Factory Overhead (FOH) Rate on Direct Labor Cost is
= Total Estimated Factory Overheads ÷ Direct Labor Cost × 100
= [$32,000 + $25,000] ÷ $250,000 × 100
= $57,000 ÷ $250,000 × 100
= 22.8%
Therefore, FOH rate based on direct labor cost is 22.8%.
Suppose Suzuki has the following demand and supply function for Cultus VXL: Qd = 55 - 5P Qs = -50 + 10P After the government decided to impose tax on the production of Cultus VXL, the new supply function: Qs = -60 + 10P Given the information above answer the following questions: Find out the equilibrium price and quantity before tax. Find consumer and producer surplus before tax. Determine government revenue and dead weight loss after tax.
Answer:
Explanation:
From the information given:
The equilibrium price before tax creates an intersection between the demand and supply.
Qd = 55 -5 P Qs = -50 + 10 P
i.e.
55 - 5P = -50 + 10P
55 + 50 = -5P +10P
110 = 5P
P = 110 / 5
P' = 7
replacing the value of P into the demand equation; we have
Qd = 55 - 5P
Qd = 55 - 5(7)
Qd = 55 - 35
Q' = 20
This tells us that the equilibrium quantity = 20 prior to the equilibrium price which is 7 before tax.
Consumer Surplus = [tex]\dfrac{1}{2} Q' \times (P-P')[/tex]
= [tex]\dfrac{1}{2}\times 20 \times (11 -7)[/tex] (∵ if P is the intercept of the demand and Q is set to be 0, P =11)
Consumer Surplus = 40
Producer surplus = [tex]\dfrac{1}{2}Q^*(P^*-P')[/tex]
here;
P' = y-intercept of supply curve = 5 since we set Qs to be 0
[tex]=\dfrac{1}{2}\times 20 \times (7-5)[/tex]
Producer surplus = 20
Thus prior to commencement of the tax consumer surplus and producer surplus are 40 and 20 respectively.
After-tax:
Qd = 55 - 5p Qs = -60 + 10 P
55 -5 P = -60 + 10 P
115 = 15P
P** = 23/3
Replacing this into the demand
Qd = 55 - 5P
Qd = 55 - 5(23/3)
Qd = 50/3
Thus, after-tax equilibrium quantity = 50/3 and equilibrium pric = 23/3.
Government revenue = (Tax)Q**
Here;
Q** = (P** - P'')
i.e.
P** = after tax equilibrium price
P'' = price suppliers received when Q** is determined in the previous supply curve =20/3
Government Tax revenue = (23/3 - 20/3) × 50/3
Government Tax revenue = 50/3
Dead weight loss = 1/2 × Tax × (Q* - Q**)
Dead weight loss [tex]=\dfrac{1}{2} * (\dfrac{23}{3} -\dfrac{20}{3}) * (20 -\dfrac{250}{3})[/tex]
Dead weight loss = 5/3
The following table describes the production possibilities of two cities in the country of Baseballia:
Pairs of Red Socks per Worker per Hour Pairs of White Socks per Worker per Hour
Boston 3 6
Chicago 5 4
Without trade, the price of a pair of white socks (in terms of red socks) in Boston is_______ of red socks, and in Chicago it is ___________ of red socks. _________has an absolute advantage in the production of red socks, and _________ has an absolute advantage in the production of white socks. ___________has a comparative advantage in the production of red socks, and______ has a comparative advantage in the production of white socks.
If the cities trade with each other, Boston will export _________socks, and Chicago will export _________socks.
The price of white socks can be expressed in terms of red socks. The highest price at which white socks can be traded that would make both cities better off is _________of red socks per pair of white socks, and the lowest price that makes both cities better off is ________of red socks per pair of white socks.
Answer:
All the blanks are filled with explanation below.
Explanation:
Solution:
Let's extract the meaning of data from the data given.
Boston produces 3 red socks per worker per hour and 6 white socks per worker per hour
B = 1 worker = 1 hour = produces 3 pairs Red Socks
B = 1 worker = 1 hour = produces 6 pairs white socks
Boston = whites socks in terms of red socks
6 white socks = 3 red socks
white socks = 3/6 red socks
white socks = 0.5 pairs of red socks.
Chicago = white socks in terms of red socks
4 white socks = 5 red socks
white socks = 5/4 red socks
white socks = 1.25 red socks
C = 1 worker = 1 hour = produces 5 pairs Red socks
C = 1 worker = 1 hour = produces 4 pairs white socks
It means in Boston, we have advantage of producing white socks and in Chicago we have advantage of producing red socks.
Fill in the blanks: (Note: Bold words are blanks filled)
1. The price of pair of white socks (in terms of red socks) in Boston is 0.5 pairs of red socks of red socks, and in Chicago it is 1.25 red socks of red socks.
2.Chicago has an absolute advantage in the production of red socks, and Boston has an absolute advantage in the production of white socks.
3. Chicago has a comparative advantage in the production of red socks, and Boston has a comparative advantage in the production of white socks.
4. If the cities trade with each other, Boston will export white socks, and Chicago will export red socks.
5. The price of white socks can be expressed in terms of red socks. The highest price at which white socks can be traded that would make both cities better off is 1.25 of red socks per pair of white socks, and the lowest price that makes both cities better off is 0.5 of red socks per pair of white socks.
After reviewing your research, your team agrees that a market penetration strategy would be best for the ShipShape. Given the strategy your team has chosen, which of the following should you recommend to YelloW?
a. Develop a new product that features a dehydration detection system. Serious athletes would be interested in this new item.
b. Start selling the ShipShape using an online direct-from-manufacturer channel.
c. Add mp3 capabilities so users can listen to music from their ShipShape. Call it the ShipShape2.
d. Launch an ad campaign for the Shipshape that shows baby boomers using the product to monitor weight loss activities
Answer: b. Start selling the ShipShape using an online direct-from-manufacturer channel
Explanation:
Market penetration strategy is typically used by a company that wants to enter a new market. It is the sale of a product in a particular market.
Since the team has chosen the market penetration strategy, the option that should be recommended to YelloW would be to start selling the ShipShape using an online direct-from-manufacturer channel.
Which is a true statement?
O A real interest rate that is equal to current inflation is desirable,
O A real interest rate that is higher than current inflation is desirable,
O A nominal interest rate that is equal to current inflation is desirable,
O A nominal interest rate that is lower than current inflation is desirable
Answer:
O A real interest rate that is higher than current inflation is desirable,
Explanation:
The real rate is the nominal rate of interest after considering the inflation rate. The nominal rate is the interest rate quoted by financial institutions. It shows the percentage of return expected on a deposit or loan. The inflation rate communicates the rate at which prices are increasing in the economy.
The real rate is equivalent to the nominal minus the inflation rate. An ideal situation is when the real rate is higher than the inflation rate. In such a situation, the rate of money growth is higher than the price increases. It means the invested amount will increase in value. At the end of a period, the invested amounts will buy more goods and services than
Answer:
A real interest rate that is higher than current inflation is desirable.
Explanation:
I did the test and got it right.
Presented below are selected account balances for Tamarisk Co. as of December 31, 2020.
Inventory 12/31/20 $60,770
Cost of Goods Sold $229,017
Common Stock 74,170
Selling Expenses 16,133
Retained Earnings 45,080
Administrative Expenses 37,525
Dividends 17,873
Income Tax Expense 30,300
Sales Returns and Allowanes
11,908
Sales Discounts 15,070
Sales Revenue 408,750
Prepare closing entries for Tamarisk Co. on December 31, 2020.
Answer and Explanation:
The closing entries for the following accounts are presented below:
1. Sales Revenue A/c Dr $408,750
To Income Summary $408,750
(Being revenue account closed)
2. Income summary A/c Dr $323,830
To Cost of Goods Sold $229,017
To Sales Returns and Allowances $11,908
To Sales Discounts $15,070
To Selling Expenses $16,133
To Administrative Expenses $37,525
To Income Tax Expense $30,300
(Being expenses accounts are closed)
3. Income summary A/c Dr $84,930 ( $408,750 - $323,830)
To Retained earning $84,930
(Being the difference is credited to retained earning)
4. Retained earnings A/c Dr $17,873
To Dividend A/c $17,873
(Being dividend account is closed)
Which of the following will cause the supply curve to move outward all else being equal
Wilson Products uses a plantwide predetermined overhead rate of $10 per direct labor-hour. Direct material and direct labor associated with Job X23 are $4,000 and $1,200, respectively. If Job X23 used 100 direct labor-hours to produce 50 audio controllers, what is this job’s unit product cost (per audio controller)?
Answer:
the job unit product cost is $124
Explanation:
The computation of the job unit product cost is as follows:
= Total cost assigned ÷ number of audio controllers produced
= ($4,000 + $1,200 + $10 × 100) ÷ (50)
= ($4,000 + $1,200 + $1,000) ÷ (50)
= $6,200 ÷ 50
= $124
hence the job unit product cost is $124
On April 1, Garcia Publishing Company received $33,480 from Otisco, Inc. for 36-month subscriptions to several different magazines. The company credited Unearned Fees for the amount received and the subscriptions started immediately. Assuming adjustments are only made at year-end, what is the adjusting entry that should be recorded by Garcia Publishing Company on December 31 of the first year?
Answer:
Unearned Fees A/c Dr. $8,370;
Fees Earned A/c Cr. , $8,370.
Explanation:
The amount of $33,480 paid is for 36 months. Subscription per months will be $33,480 divided by 36 months
=$33,480 / 12
=$930
The subscription was paid on April 1st. Between April 1st and December 31st, there were 9 months.
The subscriptions for that year will be
= $930 x 9
=$8,370
The journal entries will be as follow
Unearned Fees A/c Dr. $8,370;
Fees Earned A/c Cr. , $8,370.
The following table describes the production possibilities of two cities in the country of Baseballia: Pairs of Red Socks per Worker per Hour Pairs of White Socks per Worker per HourBoston 3 6Chicago 5 4Without trade, the price of a pair of white socks (in terms of red socks) in Boston is_______ of red socks, and in Chicago it is ___________ of red socks. _________has an absolute advantage in the production of red socks, and _________ has an absolute advantage in the production of white socks. ___________has a comparative advantage in the production of red socks, and______ has a comparative advantage in the production of white socks. If the cities trade with each other, Boston will export _________socks, and Chicago will export _________socks. The price of white socks can be expressed in terms of red socks. The highest price at which white socks can be traded that would make both cities better off is _________of red socks per pair of white socks, and the lowest price that makes both cities better off is ________of red socks per pair of white socks.
Answer:
1. (0.5 pairs of red socks) and (1.25 pairs of red socks)
2. (Chicago) and (Boston)
3. (Chicago) and (Boston)
4. (White socks) and (Red Socks)
5. (1.25) and (0.5)
Explanation:
Let's extract the meaning of data from the data given.
Boston produces 3 red socks per worker per hour and 6 white socks per worker per hour
B = 1 worker = 1 hour = produces 3 pairs Red Socks
B = 1 worker = 1 hour = produces 6 pairs white socks
Boston = whites socks in terms of red socks
6 white socks = 3 red socks
white socks = 3/6 red socks
white socks = 0.5 pairs of red socks. It means, Boston will be producing double the amount of white socks than red socks. Hence, white socks production advantage in Boston.
Chicago = white socks in terms of red socks
4 white socks = 5 red socks
white socks = 5/4 red socks
white socks = 1.25 red socks , it means Chicago will produce greater amount of red socks than white socks. Hence, red socks production advantage in Chicago.
C = 1 worker = 1 hour = produces 5 pairs Red socks
C = 1 worker = 1 hour = produces 4 pairs white socks
It means in Boston, we have advantage of producing white socks and in Chicago we have advantage of producing red socks.
Fill in the blanks:
1. (0.5 pairs of red socks) and (1.25 pairs of red socks)
2. (Chicago) and (Boston)
3. (Chicago) and (Boston)
4. (White socks) and (Red Socks)
5. (1.25) and (0.5)
Hot and Cold has annual sales of $982,000, annual depreciation of $127,000, and net working capital of $243,000. The tax rate is 34 percent and the profit margin is 6 percent. The firm has no interest expense. What is the amount of the operating cash flow
Answer:
$185,920
Explanation:
Calculation for What is the amount of the operating cash flow
Using this formula
Operating cash flow=(Sales *Profit margin)+Depreciation
Let plug in the formula
Operating cash flow=($982,000*6%)+$127,000
Operating cash flow=$58,920+$127,000
Operating cash flow=$185,920
Therefore the amount of the operating cash flow will be $185,920
anyone pls give me a buisenss plan pls I really don't have a time to do it
Answer:
Explanation:
1.Start up business plan
startup businesses draft a business plan for three specific reasons: to articulate their vision for the business, to document how they plan to solve key challenges, and to pitch their business idea to potential investors.
2. Internal Business plan
This document will describe the company's current state, including operational costs and profitability, then calculate if and how the business will repay any capital needed for the project. Internal plans provide information about project marketing, hiring and tech costs.
3. Strategic Business plan
A strategic plan for a business will include the company's mission and vision statement, as well as its goals and objectives and the action plans to achieve them. ... A strategic plan outlines the strategy for growth and success in the future by using existing resources.
4. Feasibility business plan
A feasibility business plan is a study conducted prior to initiating a business plan. Whether you're an established business launching a new product or an individual with a new idea, a feasibility plan is that part of a business plan that will help you and your investors determine if your idea will thrive.
5. Operation business plan
Operational planning is the process of planning strategic goals and objectives to technical goals and objectives.
6. Growth business plan
Business growth plans are short-term outlines for where a company sees itself in the next one to two years. ... A business growth plan is beneficial to a company as a whole, but the main purpose is to write it with investors in mind. Investors want an outline of how your company plans to build sales in the coming months.
Julie Whiteweiler made $930 this week. Only social security (fully taxable) and federal income taxes attach to her pay. Whiteweiler contributes $100 each week to her company's 401(k) plan and has $25 put into her health savings account (nonqualified) each week. Her employer matches this $25 each week.
Determine Whiteweiler's take-home pay if she is single and claims 4 allowances (use the wage-bracket method).
Enter deductions beginning with a minus sign (-). Round your calculations and final answers to the nearest cent.
Using the WagesTables for Dec 31, 2016
Gross pay $
HSA contributions
401(k) deductions
OASDI tax
HI tax
FIT
Net pay
Answer:
Explanation:
According to the wage bracket method used for tax withholding in 2016;
For a married individual and a situation whereby the number of withholding allowances claimed is four, no federal taxes have to be withheld since the salary is $930.
Also, the OASDI insurance rate = 6.2%
∴
The wages Table for Dec 31, 2016 is as follows:
Particulars Calculation Total in $
Gross Pay 930.00
Less:
HSA Contributions 50.00
401(k) deductions 100.00
OASDI tax (930 - 100) × 6.2% 51.46
HI tax as given -
FIT -
Net Pay 728.54
