Answer:
The Compromise effect
Explanation:
Heuristic is a modelling that explains the two fundamental ways of processing information while making up an opinion.
Data and information can be processed diligently in order to form an opinion which is a more accurate way than the other type known as heuristics .This explains that opinions can also be formed based on just a mere perception of issues or based on the opinion of other people or experts , which in most cases may not give a true representation of the situation at hand.
However , it forms a part of human daily activities and can also be useful in forming the required opinions in the course of daily activities.
One of the effect as seen in the question is bias attitudes or the compromise effect.
What is the purpose of internal controls? Managers utilize internal controls as a basis of employee performance reviews. Internal controls are used by managers as a way to reduce outstanding customer balances. Companies use strong internal controls to guarantee that loss is eliminated. To help managers know if the business is receiving the assets and services it has paid for.
Answer:
Companies use strong internal controls to guarantee that loss is eliminated.
Explanation:
Internal controls can be defined as the policies, set of rules, and procedures implemented or put in place by an organization to protect its assets, boost efficiency, enhance financial accountability, enforce adherence to company policies and prevent fraudulent behaviors among the employees.
The purpose of internal controls is that companies use strong internal controls to guarantee that loss is eliminated as there's an accurate and reliable accounting system.
An internal control involves the timely use of both internal and external sources of auditing or financial reporting and as such enhance the maintenance of accurate and proper financial records which would also improve their operational efficiency.
Hence, internal controls if properly executed helps to increase operational efficiency, protect and safeguard assets, provides accurate financial information, prevents fraudulent or unlawful behaviors, timeliness of financial records and reporting.
Answer: To help managers know if the business is receiving the assets and services it has paid for.
Explanation:
Using the post-closing trial balance, calculate the total assets, liabilities, and equity, and enter those amounts in the basic accounting equation.
SMART TOUCH LEARNING
Post-Closing Trial Balance December 31, 2016
Balance
Account Title Debit Credit
Cash 32900
Accounts Receivable 6300
Office Supplies 400
Prepaid Insurance 10900
Prepaid Rent 10,900
Furniture 38,700
Accumulated Depreciation-- 13100
Furniture Accounts Payable 17500
Salaries Payable 2600
Utilities Payable 1300
Interest Payable 1700
Unearned Revenue 33200
Common Stock 8400
Retained Earnings 22300
Total 1001,00 100100
Answer:
Assets= Liabilities + Owner's Equity
87,000= 56,300 + 30,700
87,000= 87000
Explanation:
SMART TOUCH LEARNING
Balance Sheet
Cash 32900
Accounts Receivable 6300
Office Supplies 400
Prepaid Insurance 10900
Prepaid Rent 10,900
Furniture 38,700
Accumulated Depreciation-- 13100
Total Assets $ 87,000
Furniture Accounts Payable 17500
Salaries Payable 2600
Utilities Payable 1300
Interest Payable 1700
Unearned Revenue 33200
Total Liabilities $ 56,300
Common Stock 8400
Retained Earnings 22300
Owner's Equity / Retained Earnings $30,700
Total Liabilities and Owner's Equity $ 87,000
The accounting equation is
Assets= Liabilities + Owner's Equity
87,000= 56,300 + 30,700
87,000= 87000
32900+ 6300+400 + 10900+ 10900+25600 = 17500 + 2600 + 1300 + 1700 + 33200 + 8400 22300
The total of Assets of a company are always equal to the total Liabilities and Owner's Equity.
Adding the assets we get $ 87,000 which is the same as the total of Liabilities and Owner's Equity.
Your job pays you only once a year for all the work you did over the previous 12 months. Today, December 31, you just received your salary of $57,000 and you plan to spend all of it. However, you want to start saving for retirement beginning next year. You have decided that one year from today you will begin depositing 5 percent of your annual salary in an account that will earn 10 percent per year. Your salary will increase at 6 percent per year throughout your career. How much money will you have on the date of your retirement 45 years from today?
Answer:
The money will you have on the date of your retirement 45 years from today is $4,465,480.95
Explanation:
In order to calculate the money that you will have on the date of your retirement 45 years from today we would have to calculate the following formula:
money that you will have on the date of your retirement 45 years from today=PV(1+r)∧n
To calculate the PV first we need to calculate the deposit amount as follows:
deposit=5%*($57,000+($57,000*6%)
deposit=$3,021
Hence, PV would be calculated as follows:
PV=$3,021*(1-(1+6%/1+10%)∧45/10%-6%
PV=$3,021*1-(0.9636363636)∧45/10%-6%
PV=$3,021*0.81116038/0.04
PV=$61,262.88
Therefore, money that you will have on the date of your retirement 45 years from today=$61,262.88*(1+10%)45
Therefore, money that you will have on the date of your retirement 45 years from today=$4,465,480.95
The money will you have on the date of your retirement 45 years from today is $4,465,480.95
" By adding new product lines like MP3 and X-Box beyond their core business of computer operating systems, Microsoft primarily benefits by: "
Answer:
creating diversification and reducing risk
Explanation:
By adding these new product lines Microsoft primarily benefits by creating diversification and reducing risk. Adding these new products allows Microsoft to enter new markets in which they can implement different strategies in order to dominate those markets with their new products and hopefully profit largely from them. This in term also provides a safety net in which, if one product fails they still have other products profiting that can make up for the loss.
Both nondeductible contributions to a traditional IRA and contributions to a Roth IRA are similar in the sense that neither provides a tax deduction at the date of contribution. Which of the two types would be most advantageous to taxpayers and why? Your client is about to establish his own business and hires at least 10 employees. They ask you for advice concerning establishing a qualified versus a non-qualified retirement plan. What do you advise your client? Would your answer change if you were a potential employee? Why or why not
Answer:
The answer to this question can be defined as follows:
Explanation:
In part A
When Most citizens can't deductible in tax and their daily IRA donation, when the revenue is higher then all thresholds refer to specific levels. So, It can also pay to save for a non-deductible IRA to your withdrawal. Even if your IRA is not exempt.
Regulations on IRA Revenue:
When a company provides individuals or their spouse has been decided to hire by users have a 401(k) or 403(b) employee withdrawal account, experience some IRA depreciation contribution limits donations.
For an alternative to Roth IRA:
Most individuals have incomes above limits and the Roth IRA may indeed meet the criteria for a frequent IRA tax benefit and the higher level donation.
In part B
I will also take a glance at the answer from a tax viewpoint if a competent payment decreases subject to tax salaries and further decreases taxable income. It is a great way for both management and workers and employers receive big profits without taxation. Its value of a qualified retirement benefit provided for both the worker increases the amount that can be spent on behalf of the company by providing an eligible program.
Slide Corporation reported net income for the current year of $370,000 and paid cash dividends of $50,000. Power Company holds 40 percent of the outstanding voting stock of Slide. However, another corporation holds the other 60 percent ownership and does not take Power’s input into consideration when making financing and operating decisions for Slide. What investment income should Power recognize for the current year?
Answer:
$20,000
Explanation:
Since Slide Company does not have any controlling interest which is ability to influence the decision making.
In Power Company, it should recognize the amount of below as dividend income in the current year,
50,000 * 40% = $20,000
Elliott Company produces large quantities of a standardized product. The following information is available for its production activities for March. Units Costs Beginning work in process inventory 2,000 Beginning work in process inventory Started 20,000 Direct materials $ 2,500 Ending work in process inventory 5,000 Conversion 6,360 $ 8,860 Status of ending work in process inventory Direct materials added 168,000 Materials—Percent complete 100 % Direct labor added 199,850 Conversion—Percent complete 35 % Overhead applied (140% of direct labor) 279,790 Total costs to account for $ 656,500 Ending work in process inventory $ 84,110 Prepare a process cost summary report for this company showing costs charged to production, unit cost information, equivalent units of production, cost per EUP, and its cost assignment and reconciliation. Use the weighted-average method. (Round "Cost per EUP" to 2 decimal places.)
Answer: kindly check attached picture
Explanation:
Production activities for MARCH:
Beginning work in process inventory = 2000
Units started in March = 20,000
Therefore, total units to account for :
(2,000 + 20,000) units = 22,000 units
Total units transferred out :
Total units to account for - Ending work in process:
(22,000 - 5,000) units = 17,000 units
Check attached picture for further explanation
How many Colgate options were outstanding as of December 31, 2013? Please provide your answer in thousands, without comma separator or decimal (Ex: 23456)
Answer:
68000
Explanation:
Colgate has options outstanding amount to 68000 in 2013. The weighted average exercise price of sock option outstanding is $47.15. Out of 68000 the 54800 option are available for issuance and rest 13000 are restricted stock which are ready for issuance under Incentive Compensation Plan.
The stockholders' equity of TVX Company at the beginning of the day on February 5 follows.
Common stock—$10 par value, 150,000 shares
authorized, 62, 000 shares issued and outstanding $620,000
Paid—in capital in excess of par value, common stock 423,000
Retained earnings 552,000
Total stockholders ' equity 1595,000
On February 5, the directors declare a 2% stock dividend distributable on February 28 to the February 15 stockholders of record. The stock's market value is $31 per share on February 5 before the stock dividend.
Required:
Prepare the stockholders' equity section after the stock dividend is distributed. (Assume no other changes to equity.)
Answer:
TVX Company
Stockholders Equity Section of the Balance Sheet, February 28
Common stock $632,400
Paid in capital in excess of par value, Common stock $449,040
Retained earnings $513,560
Total Stockholders Equity $1,595,000
Workings
Common Stock
= Common Stock + Dividends Declared
= 620,000 + ( 2% * 62,000 shares * $10 par value)
= 620,000 + 12,400
= $632,400
Paid in capital in excess of par value, Common stock
Dividends were declared based on current market value of $31 not par value of $10 so the differnce will be catered for here.
= Balance + Dividends Declared
= 423,000 + (2% * 62,000 * $21 which is differnce between par value and market value)
= 423,000 + 26,040
= $449,040
Retained earnings
= Retained Earnings - Dividends distributed
= 552,000 - (2% * 62,000 * $31)
= 552,000 - $38,440
= $513,560
Customer service representatives (CSRs) often conceal their frustration when serving an irritating customer. This behavior from the CSRs is an example of
Answer:
emotional labor
Explanation:
This form of behavior or concealment of their frustrations demonstrated by the CSRs is an example of emotional labor. When in a workplace, employees are expected to conceal their emotions and instead display compassion to an ill patient, patience and understanding with an angry customer, or even enthusiasm in a long and boring meeting, even if they are fake reactions. These are all forms of emotional labor.
On January 2, Year 1, Jones Corporation purchased a truck for $39,000. The truck has a 5-year estimated life and a $4,000 estimated salvage value. Jones expects to drive the truck 100,000 miles during its useful life. Prepare the depreciation schedule for Year 1 through Year 5 using each of the following depreciation methods; Straight-line method, 200 declining balance method, and Sum-of-years-digits method. You have to construct the depreciation schedules to answer this question. Make sure that all of your calculations should be done on the excel formula bar to show how you obtained your answers.
Answer:
Straight-line method:
depreciation expense year 1 = ($39,000 - $4,000) / 5 = $7,000depreciation expense year 2 = $7,000depreciation expense year 3 = $7,000depreciation expense year 4 = $7,000depreciation expense year 5 = $7,000200 declining balance method:
depreciation expense year 1 = 2 x 1/5 x $39,000 = $15,600depreciation expense year 2 = 2 x 1/5 x $23,400 = $9,360depreciation expense year 3 = 2 x 1/5 x $14,040 = $5,616depreciation expense year 4 = 2 x 1/5 x $8,424 = $3,369.60depreciation expense year 5 = $5,054.40 - $4,000 = $1,054.40Sum-of-years-digits method:
depreciation expense year 1 = 5/15 x $35,000 = $11,666.67depreciation expense year 2 = 4/15 x $35,000 = $9,333.33depreciation expense year 3 = 3/15 x $35,000 = $7,000depreciation expense year 4 = 2/15 x $35,000 = $4,666.67depreciation expense year 5 = 1/15 x $35,000 = $2,333.33signed a CIF contract
Answer:
In a CIF contract, the price paid by the buyer would normally be inclusive of all costs up to the agreed port of destination at which point the buyer has a duty to receive the goods. This type of contract as can be seen from above frees the buyer form the seller's local export customs.
Explanation:
This was from lawteacher.net
Your bank is offering you an account that will pay 23 % interest (an effective two-year rate) in total for a two-year deposit. Determine the equivalent discount rate for the following periods: a. Six months b. One year c. One month (Note: Be careful not to round any intermediate steps less than six decimal places.)
Answer:
Determining equivalent discount rate for the following periods:
a. Six months:
= 23%/24 x 6 = 5.75%
b. One year:
= 23%/24 x 12 = 11.50%
c. One month:
= 23%/24 x 1 = 0.96%
Explanation:
The equivalent discount rate is the rate that is applied as if it were on a period basis, like 24 months or 2 years, 12 months or 1 year, 6 months or 1/2 year, etc. It is a way of determining interest for a period that is more or less than a year. It helps in the calculation of interest so that the rate applied conforms with the period covered by the interest.
Suppose a U.S. treasury bond will pay $2,500 five years from now. If the going interest rate on 5-year treasury bonds is 4.25%, how much is the bond worth today
Answer:
Worth of the Bond today = $2,030.3
Explanation:
The worth the bond today is the present value of the expected future lump sum cash receivable in year 5 discounted at the going interest rate of 4.25%.
The formula below would be of help to resolve this ;
PV = FV× (1+r)^(-n)
PV- Present Value/Worth of the Bonds- ?
FV- Future value i.e expected cash receivable- 2,500
r- discount rate - 4.25%
n- maturity period of the bond- 5
PV = 2,500 × (1+0.0425)^(-5)
PV = 2,030.29
Worth of the Bond today = $2,030.3
Myca Corp. has a project with the following cash flows. What is the value of the cash flows today assuming an annual interest rate of 9.5 percent?Year Cash Flow1 $ 1,720 2 2,150 3 2,465 4 2,475 a. $6,189.26b. $7,886.46c. $8,810.00d. $6,962.92e. $7,624.40
Answer:
Total PV= $6,962.93
Explanation:
Giving the following information:
Annual interest rate= 9.5%
Cf1= $1,720
Cf2= $2,150
Cf3= $2,465
Cf4= $2,475
To calculate the present value, we need to use the following formula on each cash flow:
PV= FV/(1+i)^n
Cf1= 1,720/1.095= 1,570.78
Cf2= 2,150/1.095^2= 1,793.12
Cf3= 2,465/1.095^3= 1,877.48
Cf4= 2,475/1.095^4= 1,721.55
Total PV= $6,962.93
Which of the following justifications is the lobbyist using to argue for the trade restriction on steel rods? Low foreign wages argument Saving domestic jobs argument Foreign export subsidies argument Infant industry argument National defense argument
Answer: Foreign Export Subsides Argument
Explanation:
Export Subsidies are a method of encouraging companies to try to export by Governments by giving them subsidies for the goods they exported. This therefore makes the good they export cheaper because the subsidies the Producers/ exporters receive from the Government can offset their costs so they will be able to charge lower prices without making losses.
The Foreign Export Subsides Argument is that Domestic producers in the countries being exported to should not have to be competing with foreign companies that have export subsidies because it is unfair competition.
Perteet Corporation's relevant range of activity is 3,000 units to 7,000 units. When it produces and sells 5,000 units, its average costs per unit are as follows:
Average Cost per Unit
Direct materials $6.70
Direct labor $3.25
Variable manufacturing overhead $1.60
Fixed manufacturing overhead $3.00
Fixed selling expense $0.70
Fixed administrative expense $0.40
Sales commissions $0.50
Variable administrative expense $0.55
If 4,000 units are produced, the total amount of manufacturing overhead cost is closest to:__________
a. $28,000
b. $14,800
c. $21,400
d. $18,100
Answer:
Total overhead cost= $21,400
Explanation:
Giving the following information:
When it produces and sells 5,000 units, its average costs per unit are as follows:
Variable manufacturing overhead $1.60
Fixed manufacturing overhead $3.00
First, we need to calculate the total fixed manufacturing overhead:
Fixed overhead= 3*5,000= $15,000
Now, we can calculate the total overhead cost for 4,000 units.
Total overhead cost= total variable cost + total fixed cost
Total overhead cost= 1.6*4,000 + 15,000
Total overhead cost= $21,400
Squirrel Tree Services reports the following amounts on December 31.
Assets Liabilities and Stockholders’ Equity
Cash $ 8,300 Accounts payable $ 11,500
Supplies 2,400 Salaries payable 4,100
Prepaid insurance 4,100 Notes payable 26,000
Building 78,000 Common stock 40,000
Retained earnings 11,200
In addition, the company reported the following cash flows.
Cash Inflows Cash Outflows
Customers $ 96,000 Employee salaries $ 40,000
Borrow from the bank (note) 38,000 Supplies 22,000
Sale of investments 35,800 Dividends 15,500
Purchase building 98,000
Required:
1. Prepare a balance sheet.
2. Prepare a statement of cash flows. (Cash outflows and decreases in cash should be indicated by a minus sign.)
1. The preparation of the balance sheet is shown below.
2. The preparation of the cash flow statement is shown below.
1. Balance sheet:Squirrel Tree Services
Balance Sheet
For the year ended 31st December
Assets Amount Liabilities Amount
Cash $8,300 Accounts payable $11,500
Supplies $2,400 Salary payable $4,100
Prepaid insurance $4,100 Notes payable $26,000
Building $78,000
Total liabilities $41,600
Common stock $40,000
Retained earning $11,200
Total stockholder
equity $51,200
Total liabilities and
Total assets $92,800 stockholder equity $92,800
B. Cash flow statement:
Squirrel Tree Services
Cash flow
For the year ended 31st December
Particulars Amount
Cash flow from operating activities
Cash inflow from customers $96,000
Cash outflow for salaries ($40,000)
Cash outflow for supplies ($22,000)
Net cash flow from operating activities $34,000
Cash flow from investing activities
Sale of investment $35,800
Purchase of building ($98,000)
Net cash flow from investing activities ($62,200)
Cash flow from financing activities
Borrow from bank $38,000
Dividends ($15,500)
Net cash flow financing activities $22,500
Net increase in cash ($5,700)
Beginning cash of the year $15,200
Ending cash of the year $9,500
Working note
we deduct the cash inflow from cash outflow and add cash to reach the beginning cash of the year.
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Deborah currently earns a____________ wage of $12.00 per hour; in other words, the amount of her paycheck each week is $12.00 per hour times the number of hours she works. Suppose the price of milk is $2.40 per gallon; in this case, Deborah's_______________ wage, in terms of the amount of milk she can buy with her paycheck, is______________ gallons of milk per hour.
Answer:
Deborah currently earns a_____hourly_______ wage of $12.00 per hour; in other words, the amount of her paycheck each week is $12.00 per hour times the number of hours she works. Suppose the price of milk is $2.40 per gallon; in this case, Deborah's______hourly_________ wage, in terms of the amount of milk she can buy with her paycheck, is______5________ gallons of milk per hour.
Explanation:
The wage is calculated on hourly basis per day, so Deborah currently earns a hourly wage. Unlike a salary, wage is paid per day, or per week.
If milk costs $2.40 per gallon, and
Deborah earns $12.00 per hour, then...
Deborah's hourly wage in terms of the amount of milk she can buy is
==> $12.00 ÷ $2.40 = 5 gallons of milk per hour.
You own a portfolio that is 34 percent invested in Stock X, 22 percent invested in Stock Y, and 44 percent invested in Stock Z. The expected returns on these three stocks are 11 percent, 18 percent, and 14 percent, respectively. What is the expected return on the portfolio
Answer:
13.86%
Explanation:
34% was invested into stock X with an expected return of 11%
22% was invested into stock Y with an expected return of 18%
44% was invested into stock Z with an expected return of 14%
The expected return on the portfolio can be calculated using the formula below
Expected return= Sum of ( weight of stock×return of stock)
= (0.34×11%)+(0.22×18%)+(0.44×14%)
= 3.74+3.96+6.16
= 13.86%
Hence the expected return on the portfolio is 13.86%
Yasmin offers to landscape Bert's property for $2,000. Two days after making the offer, Yasmin changes her mind and mails Bert a letter revoking her offer. The next day, Bert, who has not received Yasmin's letter, calls Yasmin and accepts her offer. Does a contract exist?
Answer:
Yes, a contract exists. Yasmin made a valid offer to Bert, and Bert accepted the offer before he was notified that it was revoked. In order for a revocation to be valid, the offeree (Bert) must be notified about it. If the offeree has accepted the offer before he/she is notified about the revocation, the acceptance is valid and the revocation is not valid.
Reunion Corporation provides the following information. March 31, 2018 March 31, 2019 Net Income Preferred Dividends Total Stockholders' Equity Stockholders' Equity attrbutable to Preferred $425,500 $4.380,00 $5,1320 $5,132,000 Stock Number of Common Shares Outstanding 294464 195,1 Based on the information provided above, compute the earnings per share of Reunion Corporation as of March 31, 2019. (Round any intermediate calculations and your final answer to the nearest cent.)A) $1.22 B) $2.18 C) $1.74 D) $1.46
Answer:
C) $1.74
Explanation:
2018 2019
Net Income $358,000 $425,500
Preferred Dividends $0 $0
Total Stockholders' Equity Stockholders' $4,380,000 $5,132,000
Equity attributable to Preferred Stock $0 $0
Number of Common Shares Outstanding 294,464 195,168
earnings per share = (net income - preferred dividends) / average outstanding shares
net income 2019 = $425,500preferred dividends 2019 = $0average number of common stocks = (294,464 + 195,168) / 2 = 244,816EPS = $425,500 / 244,816 = $1.738 ≈ $1.74
Check my work Check My Work button is not enabled Item 1Item 1 1.11 points QS 7-9 Identifying journal of entry LO P1, P2, P3, P4 Peachtree Company uses sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Identify the journal in which each of the transactions should be recorded.
Answer:
Purchases and Sales made on account/ bought on credit will go to the Purchases or Sales journal respectively. When transactions are done in cash, payments go to the Cash Payments Journal and cash received goes to the Cash Receipts Journal.
May 1 - Purchase Journal. May 8 - Sales Journal. May 14 - Purchases Journal May 17 - Purchase JournalMay 24 - Cash Receipt JournalMay 28 - Cash Payments JournalMay 29 - Cash Payments JournalOn January 1, 2021, White Water issues $600,000 of 7% bonds, due in 10 years, with interest payable semi annually on June 30 and December 31 each year.
Required: Assuming the market interest rate on the issue date is 7%, the bonds will issue at $600,000. Record the bond issue on January 1, 2021, and the first two semiannual interest payments on June 30, 2021, and December 31, 2021.
Answer:
When the bonds are issued on January 1, 2021
Investment in Bonds $600,000 (debit)
Cash $600,000 (credit)
When the first interest accrues - June 30, 2021
Investment in Bonds $21,000 (debit)
Interest Income $21,000 (credit)
When the first interest accrues - December 31, 2021
Investment in Bonds $21,000 (debit)
Interest Income $21,000 (credit)
Explanation:
Construct the bond amortization schedule using the following parameters extracted from the question.
Pv = - $600,000
Pmt = ($600,000 × 7%) / 2 = $21,000
P/yr = 2
N = 10 × 2 = 20
Fv = $600,000
YTM = 7 %
Bastille Corporation prepares monthly cash budgets.
Here are relevant operating budgets for 2017:
January February
Sales $360,000 $400,000
Purchases 120,000 130,000
Salaries 84,000 81,000
Administration expenses 72,000 75,000
Selling expenses 79,000 88,000
All sales and purchases are on account.
Budgeted collections and disbursement data are given below.
All other expenses are paid in the month incurred.
Administrative expenses include $1,000 of depreciation per month.
Other data:
1. Collections from customers: January $326,000; February $378,000.
2. Payments for purchases: January $110,000; February $135,000.
3. Other receipts: January - collection of December 31, 2016 notes receivable $15,000; February - proceeds from sale of securities $4,000.
4. Other disbursements: February $10,000 cash dividend.
The company's cash balance on January 1, 2017 is expected to be $46,000. The company wants to maintain a minimum cash balance of $40,000.
Required:
Prepare a cash budget for January and February.
Answer and Explanation:
The Preparation of the cash budget for January and February is prepared below:-
Bastille Corporation
Cash budget
for the month of January and February
Particulars January February
Beginning cash balance $46,000 $43,000
Add: Receipts
Customer collection $326,000 $378,000
Notes receivable collection $15,000 $0
Sale of marketable securities 0 $4,000
Total receipts $341,000 $382,000
Total cash available $387,000 $425,000
Less:
Cash payments during the
year
Purchases $110,000 $135,000
Salaries $84,000 $81,000
Administrative expenses $71,000 $74,000
Selling expenses $79,000 $88,000
Dividends 0 $10,000
Disbursement total $344,000 $388,000
Excess of cash
available $43,000 $37,000
Financing
Borrowings 0 $3,000
Repayments 0
Ending cash balance $43,000 $40,000
Note: February beginning balance is the balance of ending cash balance.
Where can a food worker wash his hands?
O a. A mop sink
O b. A handwashing sink
O c. A food preparation sink
O d. A three-compartment sink
Answer:
b. A handwashing sink
Explanation:
Food workers with dirty hands are one of the easiest ways to increase the spread of food borne diseases in a country.
Hence, the most effective step to take as a restaurant owner to mitigate the spread of any food related diseases, bacteria or food contamination within the kitchen where the food are being prepared, is to ensure a handwashing sink is installed as well as having a continuously running water system with disinfectants and antiseptic soap placed on the handwashing sink. Therefore, this would simply help food workers to wash their hands as at every given opportunity or when deemed necessary.
According to the Food Drugs and Administration (FDA) code, it is very important that restaurant owners install at least a handwashing sink at the entrance of the kitchen where food are been prepared or inside the kitchen area itself.
Additionally, the FDA prohibits food workers from washing their hands in mop sink, food preparation sink, three-compartment sink, sinks etc.
In a nutshell, a food worker can wash his hands in a handwashing sink so as to avoid contamination of the food being prepared.
A food worker can wash his hands in a handwashing sink. One of the simplest ways to accelerate the spread of foodborne illnesses in a nation is for food workers to have unclean hands. Thus, option C is correct.
Therefore, the best action a restaurant owner can take to prevent the spread of any food-related illnesses, bacteria, or food contamination in the kitchen where the food is being prepared is to make sure a handwashing sink is installed, along with a continuously running water system, disinfectants, and antiseptic soap placed on the handwashing sink.
Therefore, this would only assist food service employees in washing their hands as possible or as needed. The Food Drugs and Administration (FDA) rule mandates that restaurant operators install a handwashing sink at the very least.
Therefore, option C is the ideal selection.
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Suppose that is placed in a savings account at an annual rate of , compounded semiannually. Assuming that no withdrawals are made, how long will it take for the account to grow to
Answer:
6 months
Explanation:
Savings accounts earn compound interest, where the interest is calculated based on the principal and all accumulated interest. Usually, savings accounts average percentage yield is 1% and is compounded onto the principal amount every cycle. These cycles can be annually or semiannually. Therefore since this account is compounded semiannually, the account total will grow by 1% every 6 months.
Xminus−Industries manufactures 3minus−D printers. For each unit, $ 3 comma 000$3,000 of direct material is used and there is $ 2 comma 000$2,000 of direct manufacturing labor at $ 20$20 per hour. Manufacturing overhead is applied at $ 25$25 per direct manufacturing labor hour. Calculate the profit earned on 5050 units if each unit sells for $ 9 comma 000$9,000.
Answer:
$75,000
Explanation:
The computation of profit earned is shown below:-
Sales revenue = $ 9,000 × 50 = $450,000
Direct material = $3,000 × 50 = $ 150,000
Direct labor = $2,000 × 50 = $100,000
Now
Number of direct labor hour per unit is
= $2,000 ÷ $20
= $100
Manufacturing overhead per unit is
= $25 × $100
= $2,500
So,
Manufacturing overhead for 50 units is
= $2,500 × 50
= $125,000
And, finally
Profit = Sales revenue - Direct material - Direct labor - Manufacturing overhead
= $450,000 - $100,000 -$150,000 - $125,000
= $75,000
What is a reason that governmental accounting is different from business accounting?
Answer:
Governments are expected to have a long-life.
Explanation:
Cost-Based Pricing and Markups with Variable Costs Compu Services provides computerized inventory consulting. The office and computer expenses are $600,000 annually and are not assigned to specific jobs. The consulting hours available for the year total 20,000, and the average consulting hour has $30 of variable costs. (a) If the company desires a profit of $160,000, what should it charge per hour?
Answer:
$68 per hour
Explanation:
Profit = Revenue - Variable Costs - Fixed Costs.
Where, Revenue = Quantity * Selling price per unit ; Variable Costs = Quantity * Variable Cost per unit
Profit= 160,000
Revenue= 20,000 * x
Variable Costs = 20,000 * 30
Fixed Costs = 600,000
Let, the cost per hour be x
160,000 = 20,000x - (20,000*30) - $600,000
160,000 + 600,000 + 600,000 = 20,000x
20,000x = 1,360,000
x= 1,360,000 / 20,000
x = 68
X= $68 per hour
Conclusion: The charge per hour should be $69 for a desired profit of $160,000