Answer:
next year total cost = $41,800 is the cost to render the decision indifferent.
Explanation:
given data
cost = $38,000
interest rate = 10% per year
time period = 1 year
solution
we get here total cost of remodelling next year that is here
total cost = P + (PNR) ÷ 100 ............1
here P is present cost and N term and R interest rate.
and we take here interest for 1 year first that is
interest = PNR ÷ 100 = 38,000 x 1 x 10 ÷ 100 = $3,800
so as that next year cost will be
next year total cost = 38,000 + 3,800
next year total cost = $41,800 is the cost to render the decision indifferent.
DRK, Inc., has just sold 100,000 shares in an initial public offering. The underwriter’s explicit fees were $60,000. The offering price for the shares was $40, but immediately upon issue, the share price jumped to $44. a. What is the total cost to DRK of the equity issue? b. Is the entire cost of the underwriting a source of profit to the underwriters? multiple choice Yes No
Answer: a. $460,000 ; b. No
Explanation:
a. What is the total cost to DRK of the equity issue?
First, we calculate the implicit cost per share which will be:
= $44 - $40 = $4.
Therefore, the total implicit cost will be:
= $4 × 100,000
= $400,000
Therefore, total cost to DRK of the equity issue will be:
= Implicit cost + Explicit cost
= $400,000 + $60,000
= $460,000
b. Is the entire cost of the underwriting a source of profit to the underwriters?
No. The entire cost of the underwriting would not be a source of profit to the underwriters. This is because the cost of underpricing isn't included.
Use two correctly labeled side-by-side graphs of the loanable funds market in the United States and China to show how a higher interest rate in the United States will lead to capital flows between the two countries. On your graphs, be sure to label the equilibrium interest rate in each country in the absence of international cap- ital flows, the international equilibrium interest rate, and the size of the capital inflows and outflows.
Answer:
Figure is given below.
Explanation:
The graph of United states and china is as follows :
Equilibrium is a condition in which market demand and supply or market forces are balanced, resulting in steady prices. Demand and supply balance each other out, resulting in a condition of equilibrium.
The international interest rate of equilibrium is set at 4%. The chart also shows capital inflows and outflows, as well as the United States and China's off-balance interest rates.
The image is attached below to show the equilibrium graphs.
For more information regarding US and China equilibrium, refer to the link:
https://brainly.com/question/6870263
Analysis of a company's financial statements: Below are simplified versions of the balance sheet and income statement for Toys by Tom, Inc. Use this information to answer the following question. A 15% increase in inventory turns for Toys by Tom, Inc. would bring this ratio to ____, suggesting ________ in ________.
Answer: 3.9 times; an improvement; efficiency
Explanation:
Inventory turns is calculated by the formula:
= COGS / Inventory
= 8.4 / 2.50
= 3.36
Increased by 15%:
= 3.36 * (1 + 15%)
= 3.864
= 3.9 times
Inventory turns is used to show how often the inventory was sold in a period. A higher ratio therefore presents increased efficiency and is desired.
Radek Company estimates its uncollectible accounts by aging its accounts receivable and applying percentages to various aged categories of accounts. Radek computes a total of $3,200 in estimated uncollectible accounts as of its current year-end. Its accounts receivable has a balance of $73,000, and its allowance for uncollectible accounts has an unused balance of $900 before any year-end adjustments. What amount of bad debts expense will Radek Company report in its income statement for the current year
Answer:
the bad debt expense that reported in the income statement is $2,300
Explanation:
The computation of the bad debt expense that reported in the income statement is as follows;
= Total estimated uncollectible accounts - unused balance
= $3,200 - $900
= $2,300
Hence, the bad debt expense that reported in the income statement is $2,300
It is reported that a 99-year license to use a parking spot at 42 Crosby in New York City is priced at $1 million. The licensee will have to cease using the parking spot thereafter. If the interest rate is fixed at 0.5% per month for the next 99 years, what is the fixed monthly payment on an equivalent 99-year mortgage to finance this purchase
Answer:
$13.39
Explanation:
future value of an annuity = monthly payment x FV annuity factor
monthly payment = future value / FV annuity factor
future value = $1,000,000
FV annuity factor = [(1 + 0.5%)¹¹⁸⁸ - 1 ] / 0.5% = 74,670.60843
monthly payment = $1,000,000 / 74,670.60843 = $13.39
Bridges and Lloyd, an accounting firm, provides consulting and tax planning services. For many years, the firm's total administrative cost (currently $250,000) has been allocated to services on the basis of billable hours to clients. A recent analysis found that 65% of the firm's billable hours to clients resulted from tax planning services, while 35% resulted from consulting services. The firm, contemplating a change to activity-based costing, has identified three components of administrative cost, as follows: Staff Support $ 180,000 In-house computing charges 50,000 Miscellaneous office costs 20,000 Total $ 250,000 A recent analysis of staff support found a strong correlation between the number of staff personnel and the number of clients served (consulting, 20; tax planning, 60). In contrast, in-house computing and miscellaneous office cost varied directly with the number of computer hours logged and number of client transactions, respectively. Consulting consumed 30% of the firm's computer hours and had 20% of the total client transactions. If Bridges and Lloyd switched from its current accounting method to an activity-based costing system, the amount of administrative cost chargeable to consulting services would:
Answer: Decrease by $23,500
Explanation:
The Consulting cost under their current accounting system is:
= 250,000 * 35%
= $87,500
Under Activity based:
Staff support for Consulting:
20 goes to Consulting, 60 to tax planning.
Total = 20 + 60 = 80
Consulting is 20/80 of Staff support amount
= 20/80 * 180,000
= $45,000
In house computing charges for Consulting
Consulting consumed 30% of the firm's computer hours.
= 30% * 50,000
= $15,000
Miscellaneous office costs
Consulting consumed 20% of total client transactions
= 20% * 20,000
= $4,000
Total cost for Consulting under Activity based = 45,000 + 15,000 + 4,000
= $64,000
Difference = 87,500 - 64,000
= $23,500
The Commonwealth of Virginia filed suit in October 2019 against Northern Timber Corporation, seeking civil penalties and injunctive relief for violations of environmental laws regulating forest conservation. When the 2020 financial statements were issued in 2021, Northern had not reached a settlement with state authorities, but legal counsel advised Northern Timber that it was probable the ultimate settlement would be $1,056,000 in penalties. The following entry was recorded:
Loss-litigation 1,650,000
Liability-litigation 1,650,000
Late in 2016, a settlement was reached with state authorities to pay a total of $1,120,000 to cover the cost of violations.
Required:
1. Prepare any journal entries related to the change.
2. Would a disclosure note be required for the change in estimate?
Answer:
Dr Liability - Litigation 530,000
Cr Gain - Litigation 530,000
Explanation:
Preparation of any journal entries related to the change.
Based on the information given journal entries related to the change will be:
Dr Liability - Litigation 530,000
Cr Gain - Litigation 530,000
(1,650,000-$1,120,000)
The Mazzanti Wholesale Food Company's fiscal year-end is June 30. The company issues quarterly financial statements requiring the company to prepare adjusting entries at the end of each quarter. Assume all quarterly adjusting entries were properly recorded.
1. On December 1, 2020, the company paid its annual fire insurance premium of $7,200 for the year beginning December 1 and debited prepaid insurance.
2. On August 31, 2020, the company borrowed $115,000 from a local bank. The note requires principal and interest at 8% to be paid on August 31, 2021.
3. Mazzanti owns a warehouse that it rents to another company. On January 1, 2021, Mazzanti collected $26,400 representing rent for the 2021 calendar year and credited deferred rent revenue.
4. Depreciation on the office building is $19,200 for the fiscal year.
5. Employee salaries for the month of June 2021 $19,500 will be paid on July 20, 2021.
Required:
Prepare the necessary year-end adjusting entries at the end of June 30, 2018, for the above situations.
Answer:
1. Dr Insurance expense 1,800
Cr Prepaid insurance 1,800
2. Dr Interest expense 2,300
Cr Interest payable 2,300
3. Dr Deferred rent revenue 6,600
Cr Rent revenue 6,600
4. Dr Depreciation expense 4,800
Cr Accumulated depreciation—building 4,800
5. Dr Salaries and wages expense 19,500
Cr Salaries and wages payable 19,500
Explanation:
Preparation of the necessary year-end adjusting entries at the end of June 30, 2018, for the above situations
1. Dr Insurance expense 1,800
Cr Prepaid insurance 1,800
($7,200 × 3/12)
2. Dr Interest expense 2,300
Cr Interest payable 2,300
($115,000× 8% × 3/12)
3. Dr Deferred rent revenue 6,600
Cr Rent revenue 6,600
($26,400 × 3/12)
4. Dr Depreciation expense 4,800
Cr Accumulated depreciation—building 4,800
($19,200 × 3/12)
5. Dr Salaries and wages expense 19,500
Cr Salaries and wages payable 19,500
Why is it important for business professionals to take an active role in developing and managing information systems? A. They know how to create a database and configure computers. B. They are the people who know how to build networks. C. They know whether a system meets their needs and requirements. D. They are the lone users of information systems.
Answer:
C. They know whether a system meets their needs and requirements.
Explanation:
An information system can be defined as a set of components or computer systems, which is used to collect, store, and process data, as well as dissemination of information, knowledge, and distribution of digital products.
Generally, it is an integral part of human life because individuals, organizations, and institutions rely on information systems in order to perform their duties, functions or tasks and to manage their operations effectively. For example, all organizations make use of information systems for supply chain management, process financial accounts, manage their workforce, and as a marketing channels to reach their customers or potential customers.
Additionally, an information system comprises of five (5) main components;
1. Hardware.
2. Software.
3. Database.
4. Human resources.
5. Telecommunications.
Hence, it is important for business professionals to take an active role in developing and managing information systems because it helps them to know whether a system meets their needs and requirements.
Leo is a recruitment executive for a large company. He has identified new labor resource requirements in both the marketing and production departments. What should be his first step in recruiting candidates for the positions?
A.
conduct background checks of candidates
B.
make job offers
C.
arrange interviews
D.
conduct reference checks
E.
place job ads on job sites
Answer:
E. place job ads on job sites
Explanation:
The first step for Leo is to place the Job advertisement on the various job sites. Advertising is making the public aware of the vacancy. The purpose of going public is to attract as many qualified candidates as possible. Having a large pool of candidates increases the possibility of getting the right person for the job.
The capital balance for Messalina is $210,000 and for Romulus is $140,000. These two partners share profits and losses 60 percent (Messalina) and 40 percent (Romulus). Claudius invests $100,000 in cash in the partnership for a 20 percent ownership. The bonus method will be used. What are the capital balances for Messalina, Romulus, and Claudius after this investment is recorded
Answer: $216,000 , $144,000 , $90,000
Explanation:
The capital balances for Messalina, Romulus, and Claudius after this investment is recorded will be calculated thus:
Messalina:
Capital balance: $210,000
Bonus share: 60% × $10000 = $6,000
New capital balance: $216,000
Romulus:
Capital balance: $140,000
Bonus share: 40% × $10000 = $4,000
New capital balance: $144,000
Claudius:
Capital balance: $100,000
Bonus share: 10% × $10000 = ($10,000)
New capital balance: $90,000
The answer is $216,000 , $144,000 , $90,000
The trial balance before adjustment of Taylor Swift Inc. shows the following balances.
Dr. Cr.
Accounts Receivable $90,000
Allowance for Doubtful Accounts 1,750
Sales Revenue (all on credit) $680,000
Instructions Give the entry for estimated bad debts assuming that the allowance is to provide for doubtful accounts on the basis of (a) 4% of gross accounts receivable and (b) 5% of gross accounts receivable and Allowance for Doubtful Accounts has a $1,700 credit balance. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.
No. Account Titles and Explanation Debit Credit
Answer:
A. Dr Bad Debt Expense$5,350
Cr Allowance for Doubtful account$5,350
B. Dr Bad Debt Expense $2,800
Cr Allowance for Doubtful account$2,800
Explanation:
Preparation of the journal entry for the estimated bad debts
A. Based on the information given the Journal entry for estimated bad debts assuming that the allowance is to provide for doubtful accounts will be:
Dr Bad Debt Expense$5,350
Cr Allowance for Doubtful account$5,350
[(4%*90,000)-1,750]
B. Based on the information given the Journal entry for estimated bad debts assuming that the allowance is to provide for doubtful accounts will be:
Dr Bad Debt Expense $2,800
Cr Allowance for Doubtful account$2,800
[(5%*90,000)-1,700]
Select the term in the blank space beside the definition that it most closely matches.
1. A type of business that earns income by buying and selling merchandise.
2. Inventory is updated for purchases and sales of inventory only at the end of a period.
3. Inventory is updated for each purchase and each sale of inventory.
4. The expense of purchasing and preparing the merchandise sold during a period.
5. Seller's description of a cash discount granted to buyers in return for early payment.
6. The amount of time allowed by a seller before payment is due from the buyer.
7. Time period in which a cash discount is available.
8. Refers to credit terms where goods in transit are owned by the seller.
Answer:
1. Merchandiser
2. Periodic inventory system
3. Perpetual inventory system
4. Cost of goods sold
5. Sales discount
6. Credit period
7. Discount period
8. FOB destination
Explanation:
1. Merchandiser: A type of business that earns income by buying and selling merchandise.
2. Periodic inventory system: Inventory is updated for purchases and sales of inventory only at the end of a period.
3. Perpetual inventory system: Inventory is updated for each purchase and each sale of inventory.
4. Cost of goods sold: The expense of purchasing and preparing the merchandise sold during a period.
5. Sales discount: Seller's description of a cash discount granted to buyers in return for early payment.
6. Credit period: The amount of time allowed by a seller before payment is due from the buyer.
7. Discount period: Time period in which a cash discount is available.
8. FOB destination: Refers to credit terms where goods in transit are owned by the seller.
The following accounts are taken from the ledger of Crane Company at December 31, 2017. Notes Payable $19,600 Cash $5,900 Common Stock 24,500 Supplies 4,900 Equipment 74,500 Rent Expense 2,000 Dividends 7,800 Salaries and Wages Payable 2,900 Salaries and Wages Expense 37,200 Accounts Payable 8,800 Service Revenue 84,300 Accounts Receivable 7,800
Prepare a trial balance.
CRANE COMPANY
Trial Balance
For the Month Ended December 31, 2017For the Year Ended December 31, 2017December 31, 2017
Debit Credit
$ $
$ $
Answer:
DEBIT SIDE $140,100
CREDIT SIDE $140,100
Explanation:
Preparation of a trial balance.
CRANE COMPANY Trial Balance For the Month Ended December 31, 2017
DEBIT SIDE
Equipment $74,500
Accounts receivable $7,800
Cash $5,900
Supplies $4,900
Dividends $7,800
Salaries and Wages Expense $37,200
Rent Expense $2,000
TOTAL DEBIT SIDE $140,100
CREDIT SIDE
Common stock $24,500
Notes payable $19,600
Salaries and wages payable $2,900
Accounts payable $8,800
Service Revenue $84,300
TOTAL CREDIT SIDE $140,100
Therefore Prepare a trial balance CRANE COMPANY Trial Balance will have both. DEBIT and CREDIT BALANCE of $140,100
Yekutia has the resources to manufacture 320 motorcycles or 570 lawn-mowers per year. The country of Bezanitia, has the capability of producing 230 motorcycles or 410 lawn-mowers per year. Which country has the largest opportunity cost to produce one more motorcycle and what is the opportunity cost to that country?
Answer:
Bezanitia,
1.782609
Explanation:
Opportunity cost is the cost of the next best option forgone hen one alternative is chosen over another alternative.
By choosing to produce one more motorcycle, the countries would be giving up the opportunity to produce one more unit of lawn mowers
Yekutia's opportunity cost in the production of motor cycle = 570 / 320 = 1.781250
Bezanitia's opportunity cost in the production of motor cycle = 410 / 230 = 1.782609
Market intelligence research defines the____ and_____ of a market.
A.size and location
B.size and scope
C.location and scope
D.location and area
help
Answer:
dja-xizd-mku G meet code
Cost of goods manufactured during the year is $240,000, and work in process inventory on December 31 is $50,000. Work in process inventory during the year decreased by 60%. Total manufacturing costs incurred are
Answer:
$165,000
Explanation:
The first step is to calculate the work in process inventory
= 50,000/40/100
= 50,000/0.4
= 125,000
Therefore the total manufacturing cost can be calculated as follows
= 240,000-125,000+50,000
= 115,000+50,000
= 165,000
Hence the total manufacturing costs is $165,000
View Policies Current Attempt in Progress At December 31, 2019, Wildhorse Corporation had the following stock outstanding. 10% cumulative preferred stock, $100 par, 107,579 shares $10,757,900 Common stock, $5 par, 4,074,720 shares 20,373,600 During 2020, Wildhorse did not issue any additional common stock. The following also occurred during 2020. Income from continuing operations before taxes $21,919,000 Discontinued operations (loss before taxes) $3,300,700 Preferred dividends declared $1,075,790 Common dividends declared $2,181,700 Effective tax rate 35 %
Compute earnings per share data as it should appear in the 2020 income statement of Wildhorse Corporation. (Round answers to 2 decimal places, e.g. 1.48.)
Earnings Per Share
$
$
Answer:
Wildhorse Corporation
Income Statement (Partial)
For the year ended Dec 31, 2020
Particulars Amount
Net Income
Income from continuing operation $21,919,000
before income tax
Income Tax (35%) $7,671,650
Income from continuing operation $14,247,350
Discontinued operations
Losses before taxes $3,300,700
Less: Income tax (35%) $1,155,245 $2,145,455
Net Income $12,101,895
Preferred dividend declared $1,075,790
Weighted average common share outstanding 4,074,720 shares
Earning per share
Income from continuing operation $3.23
($14,247,350 - $1,075,790)/4074720
Less: Discontinued operation, net of tax -$0.53
($2,145,455/4074720)
Net Income $2.71
($12,101,895 - $1,075,790) / 4074720
Webber Technologies is an emerging manufacturer of 3.5 inch diagonal touch screens for mobile communication devices/media players. 2011 industry sales were reported at 17.50 million units. This number represents an 17.7 % increase over 2010 industry sales. Webber Technologies had a 2010 market share of 5.9 %, compared with a 2011 market share of 4.2%. What was the change in unit sales for Webber Technologies, from 2010 to 2011, attributable to the change in industry sales
Answer:
Industry Sales (2011) = 17,500,000
Industry Sales (2010) = Sales of 2011/1+growth = 17,500,000/1+17.7% = 17,500,000/1.177 = $14868309.26083263 = $14,868,309.26
Company Sales (2011) = 17,500,000 * 4.2% = $735,000
Company Sales (2010) = 14,868,309.26 * 5.9% = $877,230.25
Change in units = Company sales in 2011 - Company Sales in 2010 = $735,000 - $877,230.25 = $142,230.25
Change due to change in Industry growth = Company Sales in 2010 * 17.7% = $877,230.25 * 17.7% = 155,269.75
So, there is net increase of 155,269.75 units of sales due to industry growth.
Presented below are selected account balances for Tamarisk Co. as of December 31, 2017.
Inventory 12/31/17 $60,050
Cost of Goods Sold $229,610
Common Stock 74,370
Selling Expenses 15,940
Retained Earnings 45,010
Administrative Expenses 37,625
Dividends 17,920
Income Tax Expense 29,930
Sales Returns and Allowances 12,116
Sales Discounts 14,740
Sales Revenue 410,200
Prepare closing entries for Tamarisk Co. on December 31, 2017. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.)
No.
Account Titles and Explanation
Debit
Credit
1. (To close accounts with credit balances)
2. (To close accounts with debit balances)
3. (To close net income / (loss))
4. (To close dividends)
Answer:
No. Account Titles and Explanation Debit Credit
1 Sales Revenue $410,200
Income Summary $410,200
(To close accounts with credit balances)
2. Income Summary $339,961
Sales return & Allowance $12,116
Sales Discounts $14,740
Cost of Goods Sold $229,610
Selling Expense $15,940
Administrative expense $37,625
Income tax expense $29,930
(To close accounts with debit balances)
3. Income Summary $70,239
Retained Earnings $70,239
(To close net income / (loss))
4. Retained Earnings $17,920
Dividends $17,920
(To close dividends)
Dollar General sells convenience items such as light bulbs, laundry detergent, and milk at a lower price than a customer pays at a grocery store, but the company is still able to maintain satisfactory profit margins. Dollar General is an example of _______ in the convenience store industry.
Answer:
cost leadership
Explanation:
Here are the options to this question :
Group of answer choices
reengineering
cost leadership
production innovations
efficient labor
A cost leader sells at a lower price when compared to its competitors
You are considering an investment in Cruise, Inc. and want to evaluate the firm's free cash flow. From the income statement, you see that Cruise earned an EBIT of $203 million, paid taxes of $50 million, and its depreciation expense was $74 million. Cruise's gross fixed assets increased by $71 million from 2017 to 2018. The firm's current assets decreased by $11 million and spontaneous current liabilities increased by $6.1 million. What is Cruise's operating cash flow, investment in operating capital and free cash flow for 2018, respectively in millions
Answer: See explanation
Explanation:
Cruise's operating cash flow would be calculated as:
= EBIT + Depreciation + Taxes
= 203 + 74 - 50
= $227 million
Cruise's investment in operating capital will b calculated as:
= 71 - 11 - 6.1
= $53.9 million
Cruise's free cash flow for 2018 will be calculated as:
= operating cash flow - investment in Operating capital
= 227 - 53.9
= $173.1 million
Answer and Explanation:
The computation is shown below:
Operating cash flow = EBIT - taxes + depreciation expense
= $203 million -$50 million + $74 million
= $227 million
The investment in operating capital is
= Gross fixed asset - decrease in current asset + increase in current liability
= $71 million - $11 million + $6.1 million
= $66.1 million
And, the free cash flow is
= Operating cash flow - investment in operating capital
= $227 million - $66.1 million
= $160.90 million
ABC Services reported the following transactions for September, 2013. A) The owner opened the business with a capital contribution of $23,500 cash. It was credited to Capital. B) The business purchased office equipment for $11,500. The business paid $2,500 cash down and put the balance on a note payable. C) The business paid insurance expense of $1,350 cash. D) The business paid a utility bill for $980 cash. E. The business paid $2,000 cash for September rent. F. The business had sales of $12,000 in September. Of these sales, 60% were cash sales, and the balance was credit sales. G. The business paid $9,700 cash for office furniture. What are the total liabilities at the end of September, 2013
Answer:
ABC Services
The total liabilities at the end of September, 2013
= $9,000
Explanation:
a) Data and Calculations:
Capital contribution = $23,500
Equipment = $11,500
Cash payment for equipment = $2,500
Note payable on equipment = $9,000
Insurance expense paid = $1,350
Utility expense paid = $980
Rent paid = $2,000
Sales = $12,000
Cash Sales = $7,200 (60% of $12,000)
Credit Sales = $4,800 (40% of $12,000)
Office furniture paid = $9,700
Therefore, total liabilities at the end of September, 2013 = $9,000. This represents the note payable for the office equipment purchased in B.
The following cost information shows that as production increases, Quantity produced/day Total Cost 0 $2,000 1 $2,500 2 $2,800 3 $3,300 4 $4,100 5 $5,300 6 $7,000 Group of answer choices average total cost decreases and then increases. average fixed cost increases. Total cost is increasing slower and slower. marginal cost falls.
Answer:
The following cost information shows that as production increases, the
average total cost decreases and then increases.
Explanation:
a) Data and Calculations:
Quantity Total Cost Marginal Average
produced/day Cost Total Cost
0 $2,000 $2,000 $0
1 $2,500 $500 $2,500
2 $2,800 $300 $1,400
3 $3,300 $500 $1,100
4 $4,100 $800 $1,025
5 $5,300 $1,200 $1,060
6 $7,000 $1,700 $1,167
b) The average total cost is the total cost divided by the quantity produced per day. When no unit was produced, the company still incurred some cost, known as fixed cost for production infrastructure, etc. As the quantity produced increases, the average total cost tends to decrease until the quantity increased to 5 units. Perhaps, the factory capacity was exceeded at this point. No wonder the entity recorded an increase in the average total cost.
Based on this model, households earn income when _______purchase______ in factors markets.
Suppose Eileen earns $600 per week working as a corporate attorney for Rowan and Martin Associates. She uses $8 to buy a box of aspirin at Pillmart Pharmacy. Pillmart Pharmacy pays Clancy $350 per week to work the cash register. Clancy uses $175 to purchase legal service from Rowan and Martin Associates Identify whether each of the following events in this scenario occurs in factor market or the product market.
Event Factor Market Product Market
Clancy earns $350 per week working for Pillmart Pharmacy.
Eileen earns $600 per week working for Rowan and Martin Associates
Clancy spends $175 to purchase legal service from Rowan and Martin Associates.
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.
a. The $350 per week Clancy earns working for Pillmart Pharmacy
b. The $175 Clancy spends to purchase legal service from Rowan and Martin Associates
c. The aspirin Eileen receives
d. Eileen's labor
Answer:
Based on this model, households earn income when FIRMS purchase SERVICES in factors markets.
Identify whether each of the following events in this scenario occurs in factor market or the product market.
Event Factor Market Product Market
Clancy earns $350 per week working for Pillmart Pharmacy. FACTOR MARKET
Eileen earns $600 per week working for Rowan and Martin Associates FACTOR MARKET
Clancy spends $175 to purchase legal service from Rowan and Martin Associates. 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.
b. The $175 Clancy spends to purchase legal service from Rowan and Martin Associates PRODUCT MARKET, HOUSEHOLD PURCHASES PRODCUTS
d. Eileen's labor FACTOR MARKET, HOUSEHOLDS SELL SERVICES TO FIRMS
Company C had the following investment. Help them determine the financial statement implications of the investment. Tax rate 21% Estimated tax payment 21,000 Investment cost and ending fair values for 20X1 and 20X2: 20X1 20X2 Cost 100,000 100,000 Fair value 110,000 134,000 Total gain 10,000 34,000 20X1 income statement information: Sales 1,670,200 Expenses 1,536,600 Assuming the investement is short-term, what is the ending balance of taxes payable on the 20X1 balance sheet?
Answer:
$9,156
Explanation:
Income = (Sales-expenses) + $10,000
Income = ($1,670,200 - $1,536,600) + $10,000
Total income = $143,600
Tax = Income * Tax Rate = $143,600 * 0.21 = $30,156
Now, total taxes payable is $30,156,but they estimated that payment to be $21,000, So company C has reserved $21,000 for future tax payments
So, Net deferred tax payable = $30,156 - $21,000 = $9,156. Therefore, ending balance of taxes payable on the 20X1 balance sheet is $9,156.
In 2008, Lower Case Productions had cash flows from investing activities of $85,000 and cash flows from financing activities of $93,000. The balance in the firm's cash account was $94,000 at the beginning of 2018 and $72,000 at the end of the year. What was Lower Case's cash flow from operations for 2018
Answer:
-$200,000
Explanation:
The cash balance in the cash account at the end of the year is shown by the formula below:
Cash balance at the end of the year=cash flows from operations+cash flow investing activities+cash flows from financing activities+beginning cash balance
Cash balance at the end of the year=$72,000
cash flows from operations=X
cash flow investing activities=$85,000
cash flows from financing activities= $93,000
beginning cash balance=$94,000
cash flow investing activities+cash flows from financing activities+beginning cash balance=$85,000+$93,000+$94,000=$272,000
$72,000=X+$272,000
The above shows that cash flows from operations is a cash outflow not an inflow
X=$72,000-$272,000=-$200,000
In a market system, the allocation of scarce goods involves the consideration of multiple choice 1 what must be sacrificed in using a resource for its next-best use. identifying the possibility of professional advancement. the time required to pursue an economic activity. the dollar cost of any good or service.
Answer:
what must be sacrificed in using a resource for its next-best use
Explanation:
The market cost would be managed by the clients also it would remember the advantage that is best Also it is remembered in order to support the satisfaction to their own decisions.
So in the case of the market system, the allocation of the scarcity goods would be based on the opportunity cost i.e. to be sacrificed for the next best usage
Oscar owns a bulldog. Another dog owner filed a lawsuit against Oscar alleging that his bulldog injured her pet poodle in a dog park fight. Despite evidence that his bulldog was not present at the dog park when a dogfight broke out, the jury found Oscar liable for injuries caused to the poodle. Based on these facts, Oscar has the legal option to do which of the following?
1) Make a peremptory challenge ((has to do with a juror))
2) File a motion for a judgment notwithstanding the verdict
3) Motion that the court nullify the verdict based on res judicata(no this has to do with not refiling the case)
4) File a motion for a directed verdict at the end of trial testimony before the case goes to the jury that argues that no reasonable jury could find for opposing party and therefore the judge should make a ruling on the case accordingly
Answer:
File a motion or a judgement notwithstanding the verdict
Explanation:
Answer:
File a motion or a judgement notwithstanding the verdict
Explanation:
The board of directors of a corporation:________.
a) Are elected by the corporate registrar.
b) Are responsible for day-to-day operations of the business.
c) Do not have the power to bind the corporation to contracts, due to lack of mutual agency.
d) May not also be executive officers of the corporation, due to the separate entity principle.
e) Are responsible for and have final authority for managing corporate activities.
Answer:
e) Are responsible for and have final authority for managing corporate activities.
Explanation:
A corporation can be defined as a corporate organization that has facilities and owns or controls assets used for the production of goods and services in at least one country other than its headquarter (home office) located in its home country.
This ultimately implies that, a corporation is a corporate organization that owns or controls its business in two or more countries.
Some examples of multinational firms are Ap-ple, Volkswagen, Go-ogle, Shoprite, Nestlé, Accenture, Shell BP, Chevron etc.
An owner of a corporation is known as a stockholder and he or she can decide to sell the corporation through stocks or shares as a publicly traded firm.
Basically, the board of directors who are representing the stockholders of a corporation are responsible for and have final authority for managing corporate activities because they are typically considered to be a governing body saddled with oversight functions and responsibilities.