Answer:
a. Compute how much will be withheld during the year for Coach Samson's Social Security and Medicare.
the current social security cap (for 2020) is $137,700. This means that $137,700 x 6.2% = $8,537.40 will be withheld during the year.
but since this question seems to be a little old (2018 actually), the maximum withholding should be $128,400 x 6.2% = $7,960.80 for social security
Medicare withholdings have no limit, but instead people earning above $200,000 must pay an additional 0.9%:
Medicare withholdings = ($200,000 x 1.45%) + ($452,800 x 2.35%) = $13,540.80
b. What matching amount will the employer need to contribute?
the employer must pay the $7,960.80 in social security taxes, but the employer only pays 1.45% for medicare taxes = $652,800 x 1.45% = $9,465.60
Tate Corporation purchased a building for its grocery store for $30,000 in 1970.Based on inflation estimates,the amount of this asset has been adjusted in the accounting records.The building is now reported at $75,000.Which of the following concepts or principles of accounting is being violated?
A) Going-concern concept
B) Stable monetary unit concept
C) Entity concept
D) None of the above
Answer:
B) Stable monetary unit concept
Explanation:
Based on the information given the concepts or principles of accounting that was being violated is called STABLE MONETARY UNIT CONCEPT reason been that this type of accounting principle believe that the dollar purchasing power should often be stable or fixed regardless of the increase or rise in market price which is inflation which is why an accountant will often ignore the impact of inflation on goods and services based on the assumption of the principle of STABLE MONETARY UNIT CONCEPT.
Therefore Tate corporation has violated the accounting principle of STABLE MONETARY UNIT CONCEPT by adjusting the building amount that was purchase in 1970 in the Accounting record from the amount of $30,000 to the amount of $75,000 due to the effect of inflation.
In January, Dieker Company requisitions raw materials for production as follows: Job 1 $950, Job 2 $1,460, Job 3 $710, and general factory use $610. During January, time tickets show that the factory labor of $6,800 was used as follows: Job 1 $2,300, Job 2 $1,800, Job 3 $1,590, and general factory use $1,110.
Required:
Prepare the job cost sheets for each of the three jobs.
Answer:
Cost of Job 1
Materials $ 950
Factory Labor $ 2300
General Factory:
Indirect material $ 610
Indirect labor $ 1110
Total $ 4970
Cost of Job 2
Materials $ 1460
Factory Labor $ 1800
General Factory:
Indirect material $ 610
Indirect labor $ 1110
Total $ 4980
Cost of Job 3
Materials $ 710
Factory Labor $ 1590
General Factory:
Indirect material $ 610
Indirect labor $ 1110
Total $ 4020
Explanation:
Preparation for the job cost sheets for each of the three jobs.
JOB COST SHEETS
Job1 Job2 Job 3
Materials $950 $ 1460 $710
Factory Labor $2300 $ 1800 $1590
General Factory
Indirect material $ 610 $ 610 $610
Indirect labor $ 1110 $ 1110 $1110
Total $4970 $4980 $4020
Cost of Job 1
Materials $ 950
Factory Labor $ 2300
General Factory:
Indirect material $ 610
Indirect labor $ 1110
Total $ 4970
Cost of Job 2
Materials $ 1460
Factory Labor $ 1800
General Factory:
Indirect material $ 610
Indirect labor $ 1110
Total $ 4980
Cost of Job 3
Materials $ 710
Factory Labor $ 1590
General Factory:
Indirect material $ 610
Indirect labor $ 1110
Total $ 4020
Therefore the job cost sheets for each of the three jobs will be:
Cost of Job 1
Materials $ 950
Factory Labor $ 2300
General Factory:
Indirect material $ 610
Indirect labor $ 1110
Total $ 4970
Cost of Job 2
Materials $ 1460
Factory Labor $ 1800
General Factory:
Indirect material $ 610
Indirect labor $ 1110
Total $ 4980
Cost of Job 3
Materials $ 710
Factory Labor $ 1590
General Factory:
Indirect material $ 610
Indirect labor $ 1110
Total $ 4020
Will Mark as Brainliest!!! +40 extra points Spending money on medical expenses is part of this expenditures approach for calculating the GDP.
a. consumer spending
b. gross exports
c. sum of all the country's businesses spending on capital
d. sum of government spending
e. gross imports
Answer A
Explanation:
An animator needs a laptop for audio/video editing, and notices that he can pay $2600 for a Dell XPS laptop, or lease from the manufacturer for monthly payments of $75 each for four years. The designer can borrow at an interest rate of 14% APR compounded monthly. What is the cost of leasing the laptop over buying it outright
Answer:
C) Leasing costs $145 more than buying
Explanation:
Calculation for the cost of leasing the laptop over buying it outright
First step is to get find the Present value (PV) using financial calculator
Rate =1.17% ( ⁴ 14% ÷ 12 months)
NPER=48 months ( 4 years × 12 month)
PMT=$75
FV=$0.00
Hence,PV will be :.
PV=$2,744.59
Now let calculate the cost of leasing
Cost of leasing= $2,744.59 - $2,600
Cost of leasing= $144.59
Cost of leasing=$145 Approximately
Therefore the cost of leasing the laptop over buying it outright will be $145
The following information pertains to Havana Corporation's defined benefit pension plan:
($ in thousands) 2021
Beginning balances 2022
Beginning balances
Projected benefit obligation $ (7,500 ) $ (8,004 )
Plan assets 7,200 7,836
Prior service cost–AOCI 750 700
Net loss–AOCI $ 870 $ 950
At the end of 2021, Havana contributed $755 thousand to the pension fund and benefit payments of $744 thousand were made to retirees. The expected rate of return on plan assets was 10%, and the actuary's discount rate is 7%. There were no changes in actuarial estimates and assumptions regarding the PBO.
What is the 2021 pension expense for Havana’s plan?
A. $735 thousand.
B. $593 thousand.
C. $688 thousand.
D. None of these are correct.
Answer:
B
Explanation:
From the information given:
Service Cost = PBO Ending + Retire benefits - interest cost - PBO beginning
Particulars Amounts($)
PBO Ending 8004.00
Add:
Retire Benefits 744.00
Less:
Interest Cost (7500 × 7%) 525.00
PBO beginning 7500.00
Service Cost 723.00
Assume that the actual return is y;
Then;
The plan assets ending bal. = beginning bal. + actual return + cash contributions - retire benefits
7836 = 7200 + y + 755 - 744
y = 7836 - 7200 - 755 + 744
y = $625
Actual return = $625
Plan assest loss = (7200 × 0.10) - 625
= $95
Thus; the pension expenses for year 2021 is as follows:
Particulars Amounts($)
Service Cost 723
Interest Cost 525
Less:
Expected return on plan
assets ($7836 - $7200) 720
Add:
Amortization of prior service
cost (525 × 0.10) 50
Add:
Net loss (95 -(950-870) 15
Pension expenses for 2021 593
Identify which department has stewardship over the following journals, ledgers, and files.
a. Customer open order file
b. Sales journal
c. Journal voucher file
d. Cash receipts journal
e. Inventory subsidiary ledger
f. Accounts receivable subsidiary ledger
g. Sales history file
h. Shipping report file
i. Credit memo file
j. Sales order file
k. Closed sales order file
Answer:
a. Customer open order file ⇒ SALES ORDER DEPARTMENT
This department deals with customer orders so they open the customer open order file.
b. Sales journal ⇒ BILLING DEPARTMENT.
In order the know how much to bill customers, this department does the sales journal.
c. Journal voucher file ⇒ BILLING DEPARTMENT
Journal voucher file is derived from the sales journal so it also falls under the billing department.
d. Cash receipts journal ⇒ CASH RECEIPTS DEPARTMENT
Cash receipts department are in charge of cash transactions that involve receipts so they are in charge of making the relevant journal.
e. Inventory subsidiary ledger ⇒ INVENTORY CONTROL DEPARTMENT
f. Accounts receivable subsidiary ledger ⇒ ACCOUNT RECEIVABLE DEPARTMENT
As the department in charge of transactions related to the Account receivables, this department is in charge of the ledger that records these receivables.
g. Sales history file ⇒ SALES DEPARTMENT
h. Shipping report file ⇒ SHIPPING DEPARTMENT
The shipping report file shows details of goods shipped to customers and so this falls under the responsibility of the shipping department.
i. Credit memo file ⇒ CREDIT DEPARTMENT
j. Sales order file ⇒ SALES DEPARTMENT
k. Closed sales order file ⇒ SALES DEPARTMENT
The sales department is in charge of these last two because everything that has to do with sales falls under the Sales department except for when the sale is first ordered.
The department that has stewardship over the following journals, ledgers, and files will be:
a. Customer open order file - Sales order departmentb. Sales journal - Billing departmentc. Journal voucher file - Billing department.d. Cash receipts journal - Cash receipt department.e. Inventory subsidiary ledger - Inventory control department.f. Accounts receivable subsidiary ledger - Account receivable department.g. Sales history file - Sales departmenth. Shipping report file - Shipping department.i. Credit memo file - Credit departmentj. Sales order file - Sales departmentk. Closed sales order file - Sales department.It should be noted that the sales department is in charge of sales in the organization. The cash receipt department is in charge of cash transactions that have to do with receipts.
Read related link on:
https://brainly.com/question/20592368
Carolyn is a server at Olive Garden restaurant and enjoys meeting new people who dine at the restaurant. Recently, an elderly couple visited, and Carolyn overheard them talking about their financial struggles. They asked Carolyn for refills of salad and extra breadsticks that they could take home with them. Carolyn agreed even though it was against corporate policy. What Carolyn exhibited conforms to the ethical theory of:_________
Answer:
act utilitarianism
Explanation:
Act utilitarianism is defined as an ethical view that weighs the level of happiness or best possible results in a given situation.
For example of selling soda during the summer will make people happier then it is morally right compared to staying home and watching television.
In the given scenario Carolyn agreed to give the elderly couple refills of salad and extra breadsticks that they could take home with them.
Although this is against corporate policy, she justified it by thinking it's the best for them considering their financial struggle.
This is an example of act utilitarianism where Carolyn's action was against corporate policy but she considered it ethical because it was for the greater good of the elderly couple
Consumers having more money to purchase computers will most likely result in?
a- decrease in prices for computers and computer accessories.
an increase in prices for computers and computer accessories.
a decrease in prices for computers, but not computer accessories.
an increase in prices for computers, but not computer accessories.
Answer:
an increase in prices for computers and computer accessories
Explanation:
An increase in income leads to increased demand for products and services. Consumers can afford to buy more products because their disposable income has increased. Should demand increase without a corresponding increase in supply, prices are likely to rise.
Computers and computer accessories are complementary products. These are goods that are used together. An increase in demand for one product results in increased demand for the other. Should consumers have more money to buy computers, the demand for computers will increase, and their prices will also increase.
Answer:
B} an increase in prices for computers and computer accessories.
Most social assistance workers are employed by what type of organization? local government state government federal government private businesses
Answer:
D. Private business
Explanation: correct on e2020
Answer:
d : private businesses
Explanation:
got it right
Bill Company paid a previously unrecorded utility bill of $1,000 on January 31st for the month of January.
Which of the following is included in the journal entry on January 31st?
Group of answer choices
A DEBIT Utility Payable $1,000
A DEBIT Utility Expense $1,000
A CREDIT Prepaid Utility Expense $1,000
A CREDIT Utility Expense $1,000
A DEBIT Prepaid Utility Expense $1,000
A CREDIT Utility Payable $1,000
Answer:
A DEBIT Utility Expense $1,000
Explanation:
Utilities are expenses to a business. The unrecorded utility bill increases the amount of business expenses. As per the accounting principles, an increase in expenses is debited. The utility expenses account will be debited by $1000.
in a free-market economic system if the consumers perceive the price
Answer:
for a state-of-the-art smartphone as too high for the value received, they are likelyto avoid buying it. In the same light, if theMultiple Choiceseller's price is too low, consumers will definitely consider it to be poor quality.
which of the following subject lines would be best for this email
In preparation for developing its statement of cash flows for the year ended December 31, 2021, Rapid Pac, Inc., collected the following information:
($ in millions)
Fair value of shares issued in a stock dividend $108.0
Payment for the early extinguishment of long-term bonds (book value: $91.0 million) 96.0
Proceeds from the sale of treasury stock (cost: $27.0 million) 32.0
Gain on sale of land 3.6
Proceeds from sale of land 10.8
Purchase of Microsoft common stock 162.0
Declaration of cash dividends 61.0
Distribution of cash dividends declared in 2020 58.0
Required:
a. In Rapid Pac's statement of cash flows, what were net cash inflows (or outflows) from investing activities for 2016?
b. In Rapid Pac's statement of cash flows. what were net cash inflows (or outflows) from financing activities for 2016?
Answer:
a. In Rapid Pac's statement of cash flows, what were net cash inflows (or outflows) from investing activities for 2016?
Proceeds from sale of land $10.8
Purchase of Microsoft common stock -$162.0
net outflow = -$151.2 million
b. In Rapid Pac's statement of cash flows. what were net cash inflows (or outflows) from financing activities for 2016?
Payment for the early extinguishment of long-term bonds (book value: $91.0 million) -$91.0
Proceeds from the sale of treasury stock (cost: $27.0 million) $32.0
Distribution of cash dividends declared in 2020 -$58.0
net outflow = -$117 million
An application of the Law of Supply is,
Answer:The law of supply says that a higher price will induce producers to supply a higher quantity to the market. Supply in a market can be depicted as an upward sloping supply curve that shows how the quantity supplied will respond to various prices over a period of time.
Explanation:
The demand curve is ?
sloping.
Answer:
u used my post for points so im doing the same
Explanation:
Suppose that one were to observe an economy in which fluctuations in output and fluctuations in employment are positively correlated. Based upon your answers to parts e and f, can you unambiguously choose either fluctuations in total factor productivity or in consumption utility weight as the source of the fluctuations in output and employment?
Answer:
I can unambiguously choose fluctuations in total factor productivity as the source of the fluctuations in output and employment.
Explanation:
Total factor productivity refers to the measure of economic efficiency based on the ratio of total outputs to total inputs used in the production of goods and services. The total factor productivity is obtained by dividing output by the weighted average of labor and capital input, with the standard weights of 0.7 assigned to labor and 0.3 assigned capital. Increasing total factor productivity in an economy yields higher output with the same resources, and therefore drive economic growth, leading to high levels of employment. Therefore, total factor productivity is contrasted to consumption utility weight, which measures consumers' satisfaction with goods and satisfaction.
Miller Corporation has a premium bond making semiannual payments. The bond has a coupon rate of 8 percent, a YTM of 6 percent, and 18 years to maturity. The Modigliani Company has a discount bond making semiannual payments. This bond has a coupon rate of 6 percent, a YTM of 8 percent, and also has 18 years to maturity. Both bonds have a par value of $1,000.
Required:
a. What is the price of each bond today?
b. If interest rates remain unchanged, what do you expect the price of these bonds to be 1 year from now? In 9 years? In 13 years? In 17 years? In 18 years?
Answer:
The function/formula for PV is PV(Rate,Nper,PMT,FV) where Rate = YTM, Nper = Period, PMT = Coupon Payment and FV = Face Value of Bonds.
a. Miller Bond
Here, Rate = 6%/2 = 3%, Nper = 18*2 = 36, PMT = 1,000*8%*1/2 = $40 and FV = $1,000 [we use 2 since the bond is semi-annual]
Bond Price = PV(3%,36,40,1000)
Bond Price = $1,218.32
Modigliani Bond
Here, Rate = 8%/2 = 4%, Nper = 18*2 = 36, PMT = 1,000*6%*1/2 = 30 and FV = $1,000 [we use 2 since the bond is semi-annual]
Bond Price = PV(4%,36,30,1000)
Bond Price = $810.92
b. 1 Year from Now
Miller Bond
Here, Rate = 6%/2 = 3%, Nper = 18*2 = 34, PMT = 1,000*8%*1/2 = $40 and FV = $1,000 [we use 2 since the bond is semi-annual]
Bond Price = PV(3%,34,40,1000)
Bond Price = $1,211.32
Modigliani Bond
Here, Rate = 8%/2 = 4%, Nper = 17*2 = 34, PMT = 1,000*6%*1/2 = 30 and FV = $1,000 [we use 2 since the bond is semi-annual]
Bond Price = PV(4%,34,30,1000)
Bond Price = $815.89
9 Years from Now
Miller Bond
Here, Rate = 6%/2 = 3%, Nper = 9*2 = 18, PMT = 1,000*8%*1/2 = $40 and FV = $1,000 [we use 2 since the bond is semi-annual]
Bond Price = PV(3%,18,40,1000)
Bond Price = $1,137.54
Modigliani Bond
Here, Rate = 8%/2 = 4%, Nper = 9*2 = 18, PMT = 1,000*6%*1/2 = 30 and FV = $1,000 [we use 2 since the bond is semi-annual]
Bond Price = PV(4%,18,30,1000)
Bond Price = $873.41
13 Years from Now
Miller Bond
Here, Rate = 6%/2 = 3%, Nper = 5*2 = 10, PMT = 1,000*8%*1/2 = $40 and FV = $1,000 [we use 2 since the bond is semi-annual]
Bond Price = PV(3%,10,40,1000)
Bond Price = $1,085.30
Modigliani Bond
Here, Rate = 8%/2 = 4%, Nper = 5*2 = 10, PMT = 1,000*6%*1/2 = 30 and FV = $1,000 [we use 2 since the bond is semi-annual]
Bond Price = PV(4%,10,30,1000)
Bond Price = $918.89
17 Years from Now
Miller Bond
Here, Rate = 6%/2 = 3%, Nper = 1*2 = 2, PMT = 1,000*8%*1/2 = $40 and FV = $1,000 [we use 2 since the bond is semi-annual]
Bond Price = PV(3%,2,40,1000)
Bond Price = $1,019.13
Modigliani Bond
Here, Rate = 8%/2 = 4%, Nper = 1*2 = 2, PMT = 1,000*6%*1/2 = 30 and FV = $1,000 [we use 2 since the bond is semi-annual]
Bond Price = PV(4%,2,30,1000)
Bond Price = $981.14
18 Years
Miller Bond
Here, Rate = 6%/2 = 3%, Nper = 1*2 = 2, PMT = 1,000*8%*1/2 = $40 and FV = $1,000 [we use 2 since the bond is semi-annual]
Bond Price = PV(3%,0,40,1000)
Bond Price = $1,000
Modigliani Bond
Here, Rate = 8%/2 = 4%, Nper = 0, PMT = 1,000*6%*1/2 = 30 and FV = $1,000 [we use 2 since the bond is semi-annual]
Bond Price = PV(4%,0,30,1000)
Bond Price = $1,000
Following are the transactions of a new company called Pose-for-Pics
Aug.
1 Madison Harris, the owner, invested $6,500 cash and $33,500 of photography equipment in the company in exchange for como stock.
2 The company paid $2,100 cash for an insurance policy covering the next 24 months
5 The company purchased office supplies for $880 cash
20 The company received $3,331 cash in photography Tees earned.
31 The company paid $675 cash for August utilities.
Required:
1. Post the transactions to the T-accounts.
2 Use the amounts from the T-accounts in Requirement to prepare an August 31 trial balance for Pose for Pics.
Answer:
Pose-for-Pics
1. T-accounts:
Cash
Date Accounts Titles Debit Credit
Aug. 1 Common stock $6,500
Aug. 2 Prepaid Insurance $2,100
Aug. 5 Office supplies 880
Aug. 20 Photography Fees 3,331
Aug. 31 Utilities 675
Aug. 31 Balance $6,176
Common Stock
Date Accounts Titles Debit Credit
Aug. 1 Cash $6,500
Aug. 1 Photography Equipment 33,500
Aug. 31 Balance $40,000
Photography Equipment
Date Accounts Titles Debit Credit
Aug. 1 Common stock $33,500
Prepaid Insurance
Date Accounts Titles Debit Credit
Aug. 2 Cash $2,100
Office Supplies
Date Accounts Titles Debit Credit
Aug. 4 Cash $880
Photography Fees
Date Accounts Titles Debit Credit
Aug. 20 Cash $3,331
Utilities
Date Accounts Titles Debit Credit
Aug. 31 Cash $675
2. Pose-for-Pics
Trial Balance
As of August 31:
Accounts Titles Debit Credit
Cash $6,176
Common stock $40,000
Equipment 33,500
Prepaid Insurance 2,100
Office supplies 880
Photography Fees 3,331
Utilities expense 675
Totals $43,331 $43,331
Explanation:
T-accounts are the general ledger accounts where the transactions of Pose-for-Pics are summarized. From the T-accounts, the Trial Balance can be prepared to show the list of account balances from the general ledger. The Trial Balance forms the first basis for the preparation of financial statements after adjustments have been made for accruals, prepayments, deferred revenue, and depreciation expenses. The Trial Balance may also show that the accounts have been correctly posted with corresponding debit and credit entries.
One of the technical evaluators on a multi-million dollar source selection just told you that her husband was just offered a job with one of the competing contractors. the job offer was unsolicited, tripled his current salary, and was contingent on the company getting the contract award. which administrative remedy should you pursue against this contractor?
Answer:
The correct administrative remedy against such a contractor is to have them suspended.
Explanation:
The role of a technical evaluator is sensitive as it means that he or she would be privy to almost if not all information that has to do with the contract.
In the information provided, the technical evaluator's husband was offered a job at a company competing or bidding for a multi-million dollar contract she was also evaluating.
Their husband didn't ask for the job. They offered it so that they might gain information to their advantage.
The action of this contractor can be classified as fraudulent. One of the administrative actions that can be taken against such is to have them suspended with a threat to have their license permanently revoked if they should make a similar attempt again.
Cheers
Gambino Construction adds materials at the beginning of production and incurs conversion cost uniformly throughout manufacturing. Consider the data that follow.
Units
Beginning work in process 20,000
Started in August 60,000
Production completed 55,000
Ending work in process,40% complete 25,000
Conversion cost in the beginning work-in-process inventory totaled $120,000, and August conversion cost totaled $270,000. Assuming use of the weighted-average method, which of the following choices correctly depicts the number of equivalent units for conversion cost and the conversion cost per equivalent unit?
Equivalent Units Materials Conversion Cost Per Equivalent Unit
a. 69,800 $4.31
b. 80,560 $4.28
c. 80,560 $5.40
d. 96,700 $4.28
e. 96,700 $5.40
Answer:
Gambino Construction
1. The number of equivalent units for conversion cost = 65,000 units
2. The conversion cost per equivalent unit = $6.00 per unit.
Explanation:
a) Data and Calculations:
Beginning work in process 20,000 units
Started in August 60,000 units
Production completed 55,000 units
Ending work in process,40% complete 25,000 units
Conversion cost:
Beginning work in process = $120,000
August conversion cost = $270,000
Total conversion costs = $390,000
Method = Weighted-average
Equivalent unit of Conversion:
Started and completed = 55,000 units 100% complete = 55,000
Ending inventory = 25,000 units 40% complete = 10,000
Total equivalent units during August = 65,000 units
Cost per equivalent unit = $390,000/65,000 = $6.00
b) Under the weighted-average method, the equivalent units do not include the beginning unit of work-in-process, but the total cost that determines the costs of the units started and completed and the ending work-in-process includes the cost of the beginning work-in-process.
A manufacturing company is using a two container kanban system between a downstream and an upstream work center. Each container holds 25 parts. The using work center can handle 100 parts per day. The average elapsed time for the entire cycle is currently 0.4 days. The company is concerned about the efficiency and safety stock policy) of the operation.
Required:
If the safety stock factor is changed to 0.1 and the number of parts per container is increased to 44, how many containers will be needed?
Answer:
a. 1 container
Explanation:
Options are " 1 container, 2 containers, 3 containers, 4 containers"
Safety stock factor = (Number of container*Container size - Daily demand*Elapsed time) / (Daily demand*Elapsed time)
0.1 = (Number of container*44 - 100*0.4) / (100*0.4)
0.1 = (Number of container*44 - 40) / 40
0.1 * 40 = Number of container*44 - 40
4 = Number of container*44 - 40
4 + 40 = Number of container*44
44 = Number of container*44
Number of container = 44 / 44
Number of container = 1
Banks are like other businesses. While businesses sell services or physical things, banks sell money in the form of loans and credit cards. Banks earn their income in part on the interest they charge on loans. That interest is higher than the interest they pay on depositors' accounts. For example, if you deposit your money in a bank, it may pay you 2 percent interest. So for $100 of your money, it will pay you $2. Then let's say a bank customer wants to borrow $100. The bank might charge that person 10 percent interest on that loan, meaning the borrower would have to pay back $110 after a year. The bank will earn $10 on the $100 it loaned, and it only paid you $2 for that $100. It made a profit of $8.
Which statement summarizes the paragraph?
A
People who take out a $100 loan from the bank at a 10 percent interest rate will pay the bank an extra $10.
B
People who deposit $100 into their account can usually expect to earn 2 percent from their deposit, or $2.
C
Banks are businesses that make money by selling credit cards to people who pay interest on them.
D
Banks make money by charging a higher interest on loans than the interest they pay on depositors' accounts.
Answer:
D. Banks make money by charging a higher interest on loans than the interest they pay on depositors' accounts.
Explanation:
Commercials banks are intermediaries of credit. They connect the supply side and demand side of credit. Banks accept deposits and use them to create loans for other customers.
Interest earned from loans is the primary source of revenue for banks. Interest from loans is earned when banks charge higher interest on loans than they pay for deposits.
Which of the following would an entrepreneur do first when starting a new venture?
A. borrow money
B. find the necessary land resources
C. identify an unmet want
D. compare pes of competing goods and services
Answer:
I'm not sure but try B seems like the right place to start
Klingon Cruisers, Inc., purchased new cloaking machinery four years ago for $12 million. The machinery can be sold to the Romulans today for $11.2 million. Klingon's current balance sheet shows net fixed assests of 9.2 million, current libabilities of $820,000, and net working capital of $222,000. If all the current account were liquidated today, the company would receive $1.04 million cash.
what is the book value of Klingon's total assets today?
What is the sum of the market value of the NWC and the market value of fixed assets?
Answer:
1. $10,242,000
2. $11,420,000
Explanation:
1. Calculation for what is the book value of Klingon's total assets today
First step is to calculate Current Assets using this formula
Current Assets = current liabilities + Net Working Capital (NWC)
Let plug in the formula
Current Assets= $820,000+$222,000
Current Assets=$1,042,000
Now let calculate Book value of total assets using this formula
Book value of total assets =Net fixed assets+Current Assets=
Let plug in the formula
Book value of total assets=$9,200,000+$1,042,000
Book value of total assets = $10,242,000
Therefore the book value of Klingon's total assets today will be $10,242,000
2.Calculation for the sum of the market value of the NWC and the market value of fixed assets
First step is to calculate Market value of NWC using this formula
Market Value of NWC =Current Assets -Current Liabilities
Let plug in the formula
Market Value of NWC=$1,040,000-$820,000
Market Value of NWC = $220,000
Now let calculate the sum of the market value of the NWC and the market value of fixed assets
Sum of market value of NWC and Fixed Assets =$11,200,000+$220,000
Sum of market value of NWC and Fixed Assets = $11,420,000
Therefore the sum of the market value of the NWC and the market value of fixed assets will be $11,420,000
Apply concepts suppose a friend is trying to decide whether to purchase a car. Use what you know about opportunity cost to help your friend arrived at a wise decision.
Answer:
see below
Explanation:
Opportunity cost refers to the forfeited benefits as a result of preferring one option over others. When deciding between several choices, one has to weigh the gains associated with each option.
When a choice is made, one foregoes the benefits from the options not preferred. The friend needs money to buy a car. Naturally, they have several options to spend that money other than buying a car. For example, they can invest in stocks, take a holiday, or buy a house. All the alternatives have their uniques benefits. If they buy a car, they forego the advantages of the other options. Opportunity cost is measured as the benefits of the next best alternative
Cartwright's, a home-improvement store chain, reported these summarized figures: (Click the icon to view the income statement.)
(Click the icon to view the balance sheets.)
Compute the following:
a. The rate of inventory turnover for .
b. Days' sales in average receivables during . Assume all sales are on credit.
a. Compute the rate of inventory turnover for . First enter the formula, then compute the inventory turnover for . (Round your answer to two decimal places.) Cost of goods sold / Average inventory = Inventory turnover $21,766,030 / $4,433,000 = 4.91
b. Compute the days' sales in average receivables during . Enter the formula, then compute the days' sales in average receivables during .
(Round your answer to two decimal places.)
Answer:
a. 4.91
b. 2.50 days
Explanation:
a. Inventory turnover
= Cost of goods sold / Average inventory
Average inventory =( Ending inventory + Opening inventory) / 2
= (4,676,000 + 4,190,000) / 2
= $4,433,000
Inventory turnover = 21,766,030 / $4,433,000
= 4.91
b. Days' sales in average receivables
= Average Account Receivables / Average daily sales
Average account receivables = (Ending receivables + Opening receivables) / 2
= (100,800 + 378,500) / 2
= $239,650
Average daily Sales = Sales / 365
= 34,988,900 / 365
= $95,860
Days' sales in average receivables = 239,650 / 95,860
= 2.50 days
You sell short 600 shares of Microsoft that are currently selling at $25 per share. You post the 40% margin required on the short sale. If you earn no interest on the funds in your margin account, what will be your rate of return after 1 year if Microsoft is selling at $24? (Ignore any dividends.) Multiple Choice 10.00% 7.50% 17.50% 5.00%
Answer:
10.00%
Explanation:
Calculation for what will be your rate of return after 1 year if Microsoft is selling at $24
Using this formula
Rate of return = (Current price - Initial price ) /Current price *margin
Let plug in the formula
Rate of return=($25 per share-$24)/$25 per share*0.40
Rate of return=$1/10
Rate of return=0.1*100
Rate of return=10.00%
Therefore what will be your rate of return after 1 year if Microsoft is selling at $24 is 10.00%
ISS policies must set rules for users, define consequences of violations, and minimize risk to the organization. There are typically five different types of documents in a policy framework: 1) Principles; 2) Policy; 3) Standard; 4) Procedure, and 5) Guideline
a. True
b. False
Answer:
b. False.
Explanation:
A business strategy sets the overall direction for a business firm or company because it focuses on defining how a business would achieve its goals, objectives, and mission; as well as the funds and material resources required to implement or execute the business plan.
Issues specific standards (ISS) policies must set rules for users, define consequences of violations, and minimize risk to the organization. There are typically six (6) different types of documents in a policy framework:
1) Principles;
2) Policy;
3) Standard;
4) Procedure.
5) Guideline
6. Definitions.
Your friend says that Company A is doing a great job for shareholders. He says that their ROA is high. You point out that shareholders tend to like debt and the Company A has low debt. Furthermore, ROA is biased towards companies with low debt. You suggest that ________
Answer:
Your friend says that Company A is doing a great job for shareholders. He says that their ROA is high. You point out that shareholders tend to like debt and the Company A has low debt. Furthermore, ROA is biased towards companies with low debt. You suggest that __ROE______ is a better measure of the job management is doing for shareholders.
Explanation:
Company A's Return on Equity (ROE) is a financial measure that investors use to gauge how their equity investments in the company are generating income. The Return on Assets (ROA) helps the same investors to measure how management is using Company A's assets or resources to generate more income. Company A's ROE is determined by dividing its net income by the equity, while its ROA is determined by dividing its net income by the assets. If the ROE equals the ROA, it shows that there is no leverage (debts) held by Company A.
Barnegat Light sold 190,000 shares in an initial public offering. The underwriter's explicit fees were $68,000. The offering price for the shares was $38, but immediately upon issue, the share price jumped to $45. What is the best estimate of the total cost to Barnegat Light of the equity issue? Multiple Choice $68,000 $1,262,000 $1,398,000 $1,330,000
Answer:
$1,398,000
Explanation:
Calculation for What is the best estimate of the total cost to Barnegat Light of the equity issue
Total cost = $68,000 + ($45 - $38)190,000 shares
Total cost = $68,000+($7)190,000 shares
Total cost = $68,000+$1,330,000
Total cost =$1,398,000
Therefore the best estimate of the total cost to Barnegat Light of the equity issue will be $1,398,000
