Answer: b) $6,700 loss
Explanation:
The bonds were redeemed at 101 so Pharaoh Company paid;
= 1,520,000 * 101/100
= $1,535,200
Gain on bond retirement (loss) = Bond Value + Unamortized premium - Cash paid
= 1,520,000 + 21,900 - 1,535,200
= $6,700
George owns a pizzeria in Queens, and he buys his cheese and dough and sauce from SYSCO. This firm provides its customers with the most widely used source of short-term funding, since it is the least expensive and the most convenient way of buying goods and services and paying for them later. This practice, very popular among small businesses and large businesses alike, is called
Answer:
Trade credit
Explanation:
Trade credit occurs between traders where a trader allows another to purchase goods without paying for them immediately.
It is the cheapest form of short term financing.
This is a form of business to business agreement where payment is set at a later date of 30 days, 90 days or 60 days.
The transaction is recorded by using invoice.
Usually it is a zero percent short term finance. The amount of the good at time of purchase is what is paid at the sure date.
There is no extra payment made by the buyer as interest on the amount agreed.
Why does Steve Jobs perfectly reflect the downside of a charismatic leader? a. After he left Apple in 1985, employees felt too free and became too innovative. b. When he left Apple, 50% of the employees followed him to another business venture. c. After he left Apple in 1985, Apple stagnated. d. After he left Apple in 1985, employees felt a lack of compassion in the company.
Answer: d. After he left Apple in 1985, employees felt a lack of compassion in the company
Explanation:
A Charismatic leader is a form of leader who typically utilizes their persuasiveness, charm and communication skills, to influence other people.
Charismatic leaders are of immense benefit to organizations as they connect well with the people around them on a deep level.
Steve Jobs perfectly reflect the downside of a charismatic leader because he left Apple in 1985, employees felt a lack of compassion in the company. This is because charismatic leaders typically bond well with other workers and motivates them to achieve a particular goal. In this case, the person who motivates them and have a deep connection with them is gone which resulted in the lack of compassion.
Ken consumes two goods, Sprite and potato chips. Sprite costs $1 per can, and he consumes it to the point where the marginal utility he receives from his last Sprite is 3. Potato chips cost $2 per bag, and the relationship between the marginal utility he gets from eating a bag of potato chips and the number of bags he eats per month is as follows:
Bags of Potato chips 1 2 3 4 5 6
Marginal utility 30 20 12 6 2 0
Required:
If Ken is maximizing his utility, how much does he spend on potato chips each month?
a. $2
b. $6
c. $8
d. $10
e. $12
Answer:
The correct option is c. $8.
Explanation:
Ken will maximize utility where the following equation holds:
MU of Sprite / Price of Sprite = MU of potato chips / Price of potato chips ................. (1)
Where;
MU of Sprite = Marginal utility of Sprite = 3
Price of Sprite = $1 per can
From the table in the question, equation (1) holds at the point where Marginal utility of potato chips is 6 since the Potato chips cost $2 per bag.
Substituting the values into equation (1), we have:
MU of Sprite / Price of Sprite = MU of potato chips / Price of potato chips => 3 / 1 = 6 / 2 = 3
Since when the marginal utility of potato chips that maximizes utility is 6, Ken consumes 4 Bags of Potato chips monthly and pays $2 per bag at this point, the amount he spends on potato chips each month can be calculated as follows:
Amount spent on potato monthly = Number of bags of Potato chips consumed monthly * Cost of potato chips per bag = 4 * $2 = $8
Therefore, the correct option is c. $8.
Farm Equipment, Inc., produces tractors and other farm machinery. Each piece of equipment is built to customer specifications. During May, its first month of operations, Farm Equipment, Inc., began working on three customer orders: jobs 1, 2, and 3. The following transactions occurred during May:
Purchased production materials on account totaling $450,000
Processed material requisitions for the following items:
Job 1 direct materials $77,600
Job 2 direct materials $38,600
Job 3 direct materials $45,000
Indirect materials $87,000
Processed timesheets showing the following:
Job 1 direct labor hours (700 hours) $14,800
Job 2 direct labor hours (550 hours) $11,800
Job 3 direct labor hours (300 hours) $ 6,500
Indirect labor $ 9,700
Applied overhead using a predetermined rate of 160 percent of direct labor cost
Completed job 1 and transferred it to finished goods
Delivered job 1 to the customer and billed her $140,000. (Hint: Two entries are required—one for the cost of the goods and another for the revenue.)
Required: Calculate the production costs incurred in May for each of the three jobs. (Answers must be entered as numbers only. No spaces, dollar signs, commas, decimals, etc. Example: 50000)
Job 1
Job 2
Job 3
Total
Direct Materials
A. $
D. $
G. $
$161,200
Direct Labor
B. $
E. $
H. $
$33,100
Manufacturing Overhead
C. $
F. $
I. $
$52,960
Total Cost Per Job:
$116,080
$69,280
$61,900
$247,260
Using the previous information, make the appropriate journal entry for each item described above. Assume all payments will be made next month. You will use the following accounts at least once: Raw Materials Inventory, Accounts payable, WIP Inventory, Manufacturing Overhead, Raw Materials Inventory, Wages Payable. (Answers must be entered as numbers only. No spaces, dollar signs, commas, decimals, etc. Example: 50000)
05/01/20XX
J.
$450,000
K.
$450,000
Purchased Production Materials on Account
05/XX/20XX
WIP Inventory
L. $
Manufacturing O/head
M. $
Raw materials Inventory
$248,200
Transfer Raw Materials into WIP
05/XX/20XX
WIP Inventory
N. $
Manufacturing Overhead
$9,700
Wages Payable
$42,800
Apply labor costs to Inventory
05/01/20XX
WIP Inventory
$52,960
Manufacturing Overhead
$52,960
Apply Man. Overhead to Inventory costs
Answer:
true
Explanation:
kkkkkkkk
Claude received notice that his disability benefits had ended and that he must resume working. Is Claude entitled to a hearing?
Only if Claude can prove that the loss of his benefits involves a liberty or property interest.
Claude is entitled to a hearing whenever any benefits are terminated and he requests one.
Answer:
Claude is entitled to a hearing whenever any benefits are terminated and he requests one.
Explanation:
Benefits like we all know is the financial support offered to someone who is unable to carry out a specific function due to a given constraint. This constraints could be as a result of disability or an illness.
For Claude benefits to be cut off without actual investigation to evaluate if there is need for that was a wrong move. Claude is definitely entitled to a hearing regarding to that suspension of his benefits.
Answer:
Only if Claude can prove that the loss of his benefits involves a liberty or property interest.
Explanation:
I have never.....in a bar before a . working b.work c. worked d .works e been works
Answer:
I think it's c but not sure
You've recently noticed attendance issues with your team and suspect that team mates aren't getting along with one another. This is causing low team morale and associates do not seem to care as much about the team's performance Assuming all options are possible, what would you be most and least likely to do?
A. Set specific objectives for your team. Let them know that you are all in this together and that you will succeed or fail together.
B. Spend time with each of your team members and learn about their perspectives. Incorporate their ideas into an action plan. .
C. Show your confidence in your associates by explaining the problem and challenging them to turn the situation around.
D. Consult with your manager and other leaders from high-performing teams. Ask them for suggestions for working through conflicts within the team.
Answer:
For the issue with the team, the most likely action or decision to take would be:
A. Set specific objectives for your team. Let them know that you are all in this together and that you will succeed or fail together.
On the other-hand, the least likely action to take would be:
D. Consult with your manager and other leaders from high-performing teams. Ask them for suggestions for working through conflicts within the team.
Explanation:
The market interest rate related to a bond is also called the a.stated interest rate b.contract interest rate c.effective interest rate d.straight-line rate
Answer:
The market interest rate related to a bond is also called the
c.effective interest rate.
Explanation:
Another name for the market interest rate is the current interest rate, the yield-to-maturity, or the effective interest rate. One distinguishing factor is that the market interest rate is always changing whereas the stated interest rate does not change. The stated interest rate is the interest rate actually designated on the face of a bond, which determines the amount of interest that the bondholder receives. This means that the market interest rate is just the rate that investors demand to earn for lending their money to the company.
A company purchased property for $100,000. The property included a building, a parking lot, and land. The building was appraised at $57,000; the land at $49,000, and the parking lot at $19,000. Land should be recorded in the accounting records with an allocated cost of:
Answer:
the land recorded with an allocated cost is $39,200
Explanation:
The computation of the land recorded with an allocated cost is
Total appraised value is
= $57,000 + $49,000 + $19,000
= $125,000
Now for land, the allocated value is
= $100,000 × 49000 ÷ 125000
= $39,200
Hence, the land recorded with an allocated cost is $39,200
The same is to be considered by doing above calculations
Economic ordering quantity with safety stock (LO5) Diagnostic Supplies has expected sales of 84,100 units per year, carrying costs of $5 per unit, and an ordering cost of $10 per order.
a. What is the economic order quantity?
b. What is the average inventory? What is the total carrying cost?
c. Assume an additional 80 units of inventory will be required as safety stock. What will the new average inventory be? What will the new total carrying cost be?
Answer:c. Assume an additional 80 units of inventory will be required as safety stock. What will the new average inventory be? What will the new total carrying cost be?
Explanation:
Answer:
"Diagnostic Supplies has expected sales of 84,100" units per year, carrying costs of $5 per unit, and an ordering cost of $10 per order.
Explanation:
A firm that has recently experienced an enormous growth rate is seeking to lease a small plant in Memphis, TN; Biloxi, MS; or Birmingham, AL. Prepare an economic analysis of the three locations given the following information:
Memphis Beloxi Birmingham
Annual costs for building, equipment, and administration $40,000 $60,000 $100,000
Labor and materials are expected to be (per unit) $8 $4 $5
Increase system transportation costs (per year), Expected annual volume is 10,000 units. $50,000 $60,000 $25,000
Answer:
Memphis $170,000
Biloxi $160,000
Birmingham $175,000
Explanation:
Preparation of an economic analysis of the three locations
Memphis economic analysis using this formula.
Economic analysis=(Building, equipment, administration costs+Increased transportation costs+(Expected volume *Labor and materials per units)
Let plug in the formula
Memphis Economic Analysis = $40,000 + $50,000 + (10,000 units *$8/unit )
Memphis Economic Analysis = $40,000 + $50,000 + $80,000
Memphis Economic Analysis = $170,000
Therefore Memphis Economic Analysis is $170,000
Preparation of Biloxi Economic Analysis
Biloxi Economic Analysis = $60,000 + $60,000 + (10,000 units *$4/unit )
Biloxi Economic Analysis = $60,000 + $60,000 + $40,000
Biloxi Economic Analysis = $160,000
Therefore Biloxi Economic Analysis is $160,000
Preparation of Birmingham Economic Analysis
Birmingham Economic Analysis = $100,000 + $25,000 + (10,000 units *$5/unit )
Birmingham Economic Analysis = $100,000 + $25,000 + $50,000
Birmingham Economic Analysis = $175,000
Therefore Birmingham Economic Analysis is $175,000
Therefore the summary of the economic analysis of the three locations are:
Memphis $170,000
Biloxi $160,000
Birmingham $175,000
the amount of accelarated death benefits that will be paid to an insured
Answer:
hope this will help you
Explanation:
Accelarated death benefits can be as high as 95% of the death benefits. Typically the insurance company sets a maximum benefit account based on life expectancy and , the policyholder make the final decision of how much a finanical advance they require. Accelarated death benefits are not taxed
If the nominal interest rate is 2.5 percent and the inflation rate is 2 percent, what is the real interest rate?
a) 0.5%
b) 1.25%
c) 4.5%
d) none of above is correct
Answer: a) 0.5%
Explanation:
The real interest rate is simply the nominal interest rate adjusted for inflation.
Real interest rate = Nominal rate - Inflation
= 2.5 - 2
= 0.5%
Jarvis Corporation makes an investment in 100 shares of Saxton Company's common stock. The stock is purchased for $45 a share plus brokerage fees of $280. The entry for the purchase is
Answer:
Dr Stock Investments - Saxton company 4,780
Cr Cash 4,780
Explanation:
Based on the information given we were told that Jarvis Corporation invested in 100 shares of the common stock of Saxton Company which means that if the stock is purchased for the amount of $45 a share plus brokerage fees of the amount of $280. The journal entry for the purchase will be:
Dr Stock Investments - Saxton company 4,780
Cr Cash 4,780
[(100 shares*$45) +$280]
Determine the interest on the following notes: (a) $5,000 at 6% for 90 days. (b) $800 at 9% for 5 months. (c) $6,000 at 8% for 60 days (d) $1,600 at 7% for 6 months
Answer:
a. Notes Value = 5000
Interest = 6%
Days/Months = 90 Days
Months = 3
Annual Interest= 5000*6/100
Annual Interest = $300
Interest =300*3/12
Interest = $75
b. Notes Value = 800
Interest = 9%
Days/Months = 5 Months
Months = 5
Annual Interest = 800*9/100 = $72
Interest =72*5/12 = $30
c. Notes Value = 6000
Interest = 8%
Days/Months = 60 Days
Months = 2
Annual interest = 6000*8/100 = $480
Interest = 480*2/12
Interest = $80
A trial period of work is referred to as
O probationary period
trial period
prework
o on-the-job-training period
Answer:
O probationary period
Explanation:
Probation refers to the set amount of time that an employee needs work before they are made permanent. The objective of the probation period is to give the employee time to learn the business process and procedure. Probation enables employers to evaluate the new employees' work rate, discipline, habits, and attitudes before deciding whether to hire them as permanent workers or not.
From the data collected at probation, the employer may decide to promote the employee to permanent status, extend the probation period, or discontinue the worker. An employee under probation enjoys a salary and other benefits as the employer may decide.
A large human population, both globally and within individual countries, has been a concern since the time of Thomas Malthus. Country X is 95% desert. The government of Country X is concerned about not having enough arable land (land capable of being used to grow crops) in the country to produce the food needed to feed its population without increasing food imports. One government official proposes a project to irrigate large areas of the desert to convert these areas of desert to agricultural fields.
Required:
Describe one potential benefit of this proposed project.
Answer and Explanation:
The one potential benefit for the proposed project is that to irrigate the areas i.e. large in term of the desert that represent the growth of the agricultural crops. It would not only help the human feeding but the possibililty of the rain in that region would also be increased
So the above represent the potential benefit
A large population of humans both globally and individually within countries has been found since the time of Thomas Malthus.
Country X has 95% of the desert and they have no arable land for the growth of crops. So the food need to feed the population is imported from outside and this increases the nation's imports.In order to make the land arable, there is a need for an irrigation project in order to convert the desert land to Agri fields. This would require a large amount of time and effort but will lead to long-term benefits.Hence there will be organisms that will be able to interact with each other and will be easier to live and share the land with other communities.
Learn more about the human population, within individual countries, has been a concern since the time of Thomas Malthus.
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In most business environments, who is responsible for coordinating, controlling, and managing the database
Answer:
The database administrator
Explanation:
DATABASE ADMINISTRATOR is a person who sole responsibility is to help manage, control and coordinate everything that has to do with a business, company or an organization database by backing up data and ensuring that all the data are often made available when needed which is why in most business environments DATABASE ADMINISTRATOR are mostly an important role because they help to plan, manage , Create backup as well as monitor and optimized the database’s performance.
Therefore in most business environments the person who is responsible for coordinating, controlling, and managing the database is called
DATABASE ADMINISTRATOR
X Corporation and its two divisions, Domestic and Foreign, appear below:
Sales revenues, Domestic $640,000
Variable expenses, Domestic $371,300
Traceable fixed expenses, Domestic $76,500
Sales revenues, Foreign $493,900
Variable expenses, Foreign $281,800
Traceable fixed expenses, Foreign $63,900
In addition, X's common fixed expenses totaled $173,300 and were allocated as follows: $90,000 to the Domestic division and $83,300 to the Foreign division.
What is the segment margin for the Domestic division?
a. $178,700
b. $371,300
c. $102,200
d. $192,200
Answer: $192,200
Explanation:
Based on the information that have been provided in the question, the segment margin for the domestic division will be calculated as:
Segment Margin = Segment Sales Revenue - Segment Variable Expenses - The Traceable Fixed Cost
= $640,000 - $371,300 - $76,500
= $192,200
Heedy Company is trying to decide how many units of merchandise to produce each month.The company policy is to have 20% of the next month's sales in inventory at the end of each month.Projected sales for August, September, and October are 30,000 units, 20,000 units, and 40,000 units, respectively.How many units must be produced in September?A) 24,000B) 18,000C) 28,000D) 22,000
Answer:
Production= 24,000 units
Explanation:
Giving the following information:
Desired ending inventory= 20% of next month's sales
Sales:
August= 30,000
September= 20,000
October= 40,000
To calculate the production for September, we need to use the following formula:
Production= sales + desired ending inventory - beginning inventory
Production= 20,000 + 40,000*0.2 - 20,000*0.2
Production= 24,000 units
Cohlsen Corporation has a favorable materials quantity variance. Which department would likely be asked to explain the cause of this variance
Answer:
b. None, because the variance is favorable.
Explanation:
As in the given question it is mentioned that the Cohlsen corporation has the favorable variance of material quantity so due to the variable there would be no department involved
But in the case when there is an unfavorable material quantity variance so the production department would be held responsible for the same in order to maintain the quantity with the standards
Therefore the correct option is b.
Marketing managers need to consider many factors to find the best way of communication and budget allocation decisions. During this decision strategy, companies must consider the audience, the objectives of the promotion, the media, the budget, as well as the Unique Selling Proposition (USP) of the product
a. True
b. False
Answer:
a. True
Explanation:
In the case to find the best way of communication and the decisions regarding the allocation of the budget, the managers are required to considered various factors. In the decision process, the companies considered the audience, promotion objective, media, budget and the product characteristic i.e. why it is purchased by the consumer etc
So the given statement is true
As while taking the decisions the above things are relevant
Sewtfi861 Corporation makes an extra large part to use in one its fabulous products. A total of 16,000 units of this extra large part are produced and used every year. The company's costs of producing the extra large part at this level of activity are below:
Per Unit
Direct materials $3.50
Direct labor $8.10
Variable manufacturing overhead $8.60
Supervisor's salary $4.00
Depreciation of special equipment $2.40
Allocated general overhead $7.60
An outside supplier has offered to make the extra large part and sell it to Sewtfi861 for $32.70 each. If this offer is accepted, the supervisor's salary and all of the variable costs, including the direct labor, can be avoided. The special equipment used to make the extra large part has no salvage value or other use. The allocated general overhead represents fixed costs of the entire Sewtfi861 company, none of which would be avoided if the part were purchased instead of produced internally. In addition, the space used to make the extra large part could be used to make more of one of the company's other fabulous products, generating an additional segment margin of $35,000 per year for that product.
Required:
What would be the annual financial advantage (disadvantage) for Sewtfi861 Corp. as a result of buying the extra large part from the outside supplier?
Answer:
The annual financial disadvantage is $62,560
Explanation:
Analysis of the Costs of Producing Internally and Buying from External Supplier.
Producing Internally External Supplier
Direct materials $3.50 $0
Direct labor $8.10 $0
Variable manufacturing overhead $8.60 $0
Supervisor's salary $4.00 $0
Depreciation of special equipment $2.40 $0
Allocated general overhead $7.60 $7.60
Extra contribution $0 ($2.19)
Purchases Cost $0 $32.70
Product Cost $34.20 $38.11
Conclusion :
We can see that the Product Cost to produce the part internally costs $3.91 less than the cost to purchase from external supplier. Therefore Sewtfi861 Corp has a disadvantage.
Annual disadvantage = 16,000 units × $3.91
= $62,560
If equilibrium GDP is $250 billion less than the targeted level of GDP, and the Multiplier Model has an mpe of 0.75, then we can predict that the targeted level of GDP can be attained by_______ government spending______billion.
a. decreasing; $62.5
b. increasing; $95.5
c. increasing; $62.5
d. increasing; $250
Answer:
c. increasing; $62.5
Explanation:
The computation is shown below;
As we know that
Multiplier = 1 ÷ 1 - MPC
= 1 ÷ 1 - 0.75
= 1 ÷ 0.25
= 4
Now if the equilibrium GDP is $250 billion less than the expected level of GDP
So, the government spending would be increased by
= $250 billion ÷ 4
= $62.5
Hence, the correct option is c.
Types of Stock Mutual Funds. List and briefly describe the different types of stock mutual funds. Match the different types of stock mutual funds with the appropriate description.
Answer:
Money Market Funds: funds that invest in short-term, liquid assets like short-term government or corporate bonds.
Fixed income funds: funds that invest in all types of bonds, but tend to prefer investment in longer-term, higher yield, riskier bonds.
Equity funds: funds that invest in all types of stocks. Hence the name (stock is equity).
Balanced funds: funds that invest some of their money in high risk securities, and some other money in low risk securities.
Index Funds: these are funds whose performance is the same as the performance of some stock market index, like the s&p index.
Specialty funds: these funds that only invest in special types of markets and securities, like real estate, or enviromental sectors.
The first-year NOI for an office building is $150,000. A lender is willing to provide financing up to a 1.5 debt-coverage ratio. If the mortgage has a 5-year maturity, 25-year amortization period, and 6% rate of interest, what is the maximum loan size that you can obtain assuming that payments are made on an annual basis?
Answer:
the maximum loan size is $1,278,335.62
Explanation:
The computation of the maximum loan size is as follows:
= (NOI first year ÷ debt coverage rate) × 1 ÷ (rate of interest) × (1 - 1 ÷ (1 + rate of interest)^number of years)
= ($150,000 ÷ 1.5) × 1 ÷ (6%) × (1 - 1 ÷ (1 + 6%)^(25))
= $1,278,335.62
hence, the maximum loan size is $1,278,335.62
We simply applied the above formula
On September 1, Home Store sells a mower (that costs $310) for $610 cash with a one-year warranty that covers parts. Warranty expense is estimated at 9% of sales. On January 24 of the following year, the mower is brought in for repairs covered under the warranty requiring $43 in materials taken from the Repair Parts Inventory.
Required:
Prepare the September 1 entry to record the mower sale (and cost of sale) and the January 24 entry to record the warranty repairs.
The preparation of the September 1 entry to record the mower sale (and cost of sale) and the January 24 entry to record the warranty repairs is as follows:
Journal Entries:September 1:
Debit Cash $610
Credit Sales Revenue $610
To record the sales for cash.Debit Cost of goods sold $310
Credit Inventory $310
To record the cost of goods sold.Debit Warranty Expense $55
Credit Warranty Liability $55
To record the warranty expenses and liability.January 24:
Debit Warranty Liability $43
Credit Repair Parts Inventory $43
To record the warranty liability incurred.Transaction Analysis:September 1: Cash $610 Sales Revenue $610
Cost of goods sold $310 Inventory $310
Warranty Expense $55 Warranty Liability $55 ($610 x 9%)
January 24: Warranty Liability $43 Repair Parts Inventory $43
Learn more about recording warranty transactions at https://brainly.com/question/17310475
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A common approach of estimating the variability of returns involving the forecast of pessimistic, most likely, and optimistic returns associated with an asset is called ________. Group of answer choices marginal analysis scenario analysis sensitivity analysis break-even analysis
Answer:
.,............. ....................................................
On November 19, Nicholson Company receives a $15,000, 60-day, 8% note from a customer as payment on account. What adjusting entry should be made on the December 31 year-end
Answer:
Dr Interest Receivable $140
Cr Interest Revenue $140.
Explanation:
Based on the information given we were told that On November 19 the Company receives the
amount of $15,000 which includes a 60-day, 8% note from a customer which means that the adjusting Journal entry that should be made on the December 31 year-end will be :
Dr Interest Receivable $140
Cr Interest Revenue $140
(15,000*8%*42days/360 days)
Note that November 19 to December 31 will gives us 42 days while 360 days represent the numbers of days in a year
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Answer:
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Explanation:
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