Answer:
$83,107.20
Explanation:
Amount available for monthly house payment = [$ 2000 * 35% ] - $ 150
= $700 - $150
= $550
Effective rate per month = 6.95% / 12 months = 0.00579 = 0.579%
No of periods = 30 years * 12 months = 360 months
Present Value = Amount available for monthly house payments * [P/A,0.579%,360]
[P/A,0.579%,360] =[(1 + i)^n - 1] / [( 1 + i)^n * I]= [(1 + 0.00579)^360 - 1] / [( 1 + 0.00579)^360 * 0.00579]
P/A,0.579%,360 = [7.99158 - 1] / [ 7.99158 * 0.00579]
P/A,0.579%,360 = 6.99158 / 0.04627
P/A,0.579%,360 = 151.104
Present Value = Amount available for monthly house payments * [P/A,0.579%,360]
Present Value = $550 * 151.104
Present Value = $83,107.20
Thus, the max amount she can par for the house is $83,107.20
McDonald's is a major company in the restaurant business
An increase in the firms receivable turnover ratio means that:
Answer:
interest generated in a business
Turner Company owns 10% of the outstanding stock of ICA Company. During the current year, ICA paid a $5.10 million cash dividend on its common shares.
What effect did this dividend have on Turner's 2021 financial statements? (Enter your answers in whole dollars, not in millions. Amounts to be deducted should be indicated with a minus sign.)
Balance Sheet
Cash $510,000
xxxx $
Income Statement
Dividend Revenue $510,000
I do not know what the second Balance Sheet account should be and the amount.
Answer:
Turner Company
The effect that this dividend had on Turner's 2021 financial statements are:
Balance Sheet
Cash $510,000
Retained Earnings $510,000
Income Statement
Dividend Revenue $510,000
Explanation:
a) Data and Calculations:
Shareholding in ICA Company = 10%
ICA paid cash dividend amounting to $5.10 million
Turner's share of the dividend = $510,000 ($5,100,000 * 10%)
b) The receipt of the cash dividend by Turner will increase its Cash balance by $510,000. It will also increase the Dividend Revenue by $510,000, thereby increasing the profit for the year. If Turner does not pay dividends, it will also increase the Retained Earnings by the same amount.
In order to implement expansionary policy, the goverment and Central Bank must government spending, taxes, and interest rates. A increase, increase increase B. increase decrease, decrease C. decrease increase increase D. decrease decrease, decrease
Answer:
B. increase decrease, decrease
Explanation:
Expansionary policies are measures aimed at stimulating economic growth. They are applied during times of recession and depression. Expansionary policies work by increasing the money supply in the economy. These policies increase liquidity in the market, thereby increasing the demand for goods and services.
Increasing government spending is an expansionary fiscal policy. Increased spending means releasing more money into the economy. Decreasing taxes imply individuals and business will pay lower taxes than before. The results in an increase in disposable income and an increase in demand.
The interest rate represents the cost of borrowing money. When the interest rates are high, individuals and businesses find borrowing uneconomical. When the interests are decreased, the cost of borrowing reduces, which encourages increased borrowing for consumption and investments.
When an organization must deal with a problem that repeats itself over and over again management should take a:
a) Customized tailored approach to solving each variation of the problem.
b) One solution fits all approach to the problem.
c) Must concentrate on perfecting the technology and business processes associated with the problem.
Answer:
Must concentrate on perfecting the technology and business processes associated with the problem.
A rise in the market interest rate will cause the market value of a financial instrument such as a bond to rise. Select one: True False
Answer:
False
Explanation:
As we know that there is an opposite relationship between the price of the bond and the market interest rate. That means if there is a rise in the market interest rate so the price of the bond decreased
And, on the other hand if there is a decrease in the market interest rate so the price of the bond is increased
hence, the given statement is false
I NEED HELP!! THIS IS SO CONFUSING!!
Explanation:
AD decreas price level increases and real GDP increase
This credit is a non-refundable tax credit for qualified higher education tuition and
expenses paid for an eligible student.
A) American Opportunity Tax Credit (AOTC)
B) Lifetime Learning Credit (LLC)
C) Adding Brain Credit (ABC)
D) College Discount Credit (CDC)
18
E) 4 Year College Credit (4Y2C)
Answer:
b
Explanation:
Even if a company has accurate sales forecast information calculated from multiple methods and based on solid data, the company should:
Answer:
prepare for multiple possible scenarios so it can react to whatever happens in the market
Explanation:
Sales forecast is a method of predicting futures sales volumes and patterns. It is used by businesses to make informed decisions on resource allocation.
Sales forecast determines short term and long term performance of the business.
However having accurate sales forecast information calculated from multiple methods and based on solid data does not give full assurance based on fluctuating market forces.
The business will need to prepare for multiple possible scenarios so it can react to whatever happens in the market.
A company should be prepared by ensuring proactiveness to other possible
conditions not contained in the forecast.
A company having accurate sales forecast information calculated from
multiple methods and based on solid data doesn't guarantee that deviations
can't occur. Sales information can only be forecasted and other activities can alter the speculated sales information.
For example, the lockdown during the cov-id era caused most
shops to be shut down as a result of the self isolation carried out in
respective homes. This is a deviation in the norm and companies who
weren't prepared for it ran into debts and became liquidated.
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Raymond purchased a utility trailer on 2/18/2018. The trailer was delivered on 3/10/2018. He added side rails and a lift to the bed of the trailer. The work was completed and the trailer ready for use on 4/2/2018. What is the date placed in service?
a. 02/18/2018
b. 03/10/2018
c. 04/02/2018
d. 01/01/2018
Answer:
B. 03/10/2018
Explanation:
The date placed in service is 03/10/2018 since this was the date that this trailer or machine was delivered for use according to the question.
The date in service can be defined to be the date that an inventory item such as this machine was made available for service or in other words made available for use. We use this date to calculate the depreciation on the serial inventory.
Answer:
i think its d
Explanation:
California Company uses a predetermined overhead rate based on machine hours to apply overhead. The company has the following estimated costs for next year:
Direct materials: 10,000
Direct labour: 30,000
Sales commissions: 40,000
Salary of production supervisor: 20,000
Indirect materials: 4000
Advertising expense: 8000
Rent on factory equipment: 10000
California Company estimates that 10,000 machine hours will be worked during the year. The predetermined overhead rate per machine hour will be:__________
Answer:
$3.40 Per Machine Hour
Explanation:
The computation of the predetermined overhead rate is shown below:
As we know that
Predetermined overhead rate is
= Estimated manufacturing overhead ÷ estimated machine hours
where,
Estiamted Manuafctuing overheads is
= Salary of Prodcution Supervisior + Indirect Material + rent on Factory Equipment
= $20,00 + $4,000 + $10,000
= $34,000
And, the estimated machine hours is 10,000
So, the predetermined overhead rate is
= $34,000 ÷ 10,000
= $3.40 Per Machine Hour
Market power is_____________
Incurring an expense for advertising on account would be recorded by:
a. Is the primary standard-setting body in the United States.
b. Is governed by the U.S. Securities and Exchange Commission.
c. Can overrule the FASB when their policies disagree.
d. Promotes the use of high-quality, understandable global accounting standards.
Complete Question:
Incurring an expense for advertising on account would be recorded by:
Group of answer choices
A) Debiting a liability account.
B) Crediting an asset account.
C) Debiting an expense account.
D) Debiting an asset account.
Answer:
C) Debiting an expense account.
Explanation:
Incurring an expense for advertising on account would be recorded by debiting an expense account.
This ultimately implies that, when a business firm incurs an expense such as on advertising its goods or services, the appropriate account on the balance sheet to record this will be to debit the advertising expense account and then credit the account payable.
Offering customers different sized garbage bins for different disposal fees/prices, is one form of _______________ system.
Answer: VARIABLE-RATE OR “PAY-AS-YOU-THROW”
Explanation:
Offering customers different sized garbage bins for different disposal fees/prices, is one form of variable rate system.
Who are customers?
Customers are individuals or organizations who purchase goods or services from a seller or provider. They are the people or entities who pay for and use the products or services that a business offers.
Customers can be individuals, households, businesses, or government entities, and they may make purchases for personal or professional reasons.
The relationship between a business and its customers is a crucial aspect of its success, as satisfied customers are more likely to return for future purchases and recommend the business to others.
Giving customers different sized garbage bins for different disposal fees/prices. It is one form of variable rate system.
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If you earned a 2.6% return on your savings with a 25% tax rate, what is your after-tax rate of return?
Answer: 1.95%
Explanation:
Your after-tax return can be calculated by the formula;
= return * ( 1 - tax rate)
= 2.6% * ( 1 - 25%)
= 1.95%
You believe you will spend $240,000 a year for 25 years once you retire in 17 years. If the interest rate is 3.90% per year. (Do not round intermediate calculations. Round your answer to 2 decimal places.) a. How much must you need saved once you reach retirement. $ b. how much must you save each year until retirement to meet your retirement goal
Answer:
Results are below.
Explanation:
First, we need to calculate the money required at the time of retirement:
FV= 240,000*25= $6,000,000
Now, using the following formula, we can determine the annual investment:
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
Isolating A:
A= (FV*i)/{[(1+i)^n]-1}
A= (6,000,000*0.039) / {[(1.039^17) - 1]
A= $255,373.88
Employees view budgeting more positively when goals are established for them by senior management.
a. True
b. False
Answer:
true
Explanation:
i think true
The new owner of a beauty shop is trying to decide whether to hire one, two, or three beauticians. She estimates that profits next year (in thousands of dollars) will vary with demand for her services, and she has estimated demand in three categories, low, medium, and high. NUMBER OF BEAUTICIANS DEMAND LOW MEDIUM HIGH One 50 75 100 Two 0 100 100 Three (100 ) 70 300 If she feels the chances of low, medium, and high demand are 50 percent, 20 percent, and 30 percent respectively, what are the expected annual profits for the number of beauticians she will decide to hire?
Answer:
the expected annual profit for the number of beauticians is $70,000
Explanation:
The computation of the expected annual profit for the number of beauticians is shown below:
= 50 × 0.50 + 75 × 0.20 + 100 × 30
= 25 + 15 + 30
= 70
= $70,000
hence the expected annual profit for the number of beauticians is $70,000. The same is to be considered
All other information that are mentioned should be ignored
5. Discuss the effects of various forms of technology on international business. What role does the Internet play? Where is this all leading? Explain the meaning of “appropriability of technology.” What role does this play in international competitiveness? How can managers protect the proprietary technology of their firms?
Answer:
The internet has radically affected international business.
Explanation:
First, the internet has made it easier for firms to engage in international business and trade because it reduces barriers to entry, facilitates communications, and becomes a vehicle for the creation of new economic sectors.
Second, the internet has made competition between companies more stiff in some sectors, but has resulted in the formation of oligopolies, duopolies, and even monopolies in other sectors, especially those that are very intensive in all kinds of capital, from human capital to technological capital, to financial capital.
Third, the internet has made the concept of appropriability more important because intellectual property has gained more importance, and also because the internet has made it easier to engange in intellectual property theft.
Finally, managers can protect the proprietary technology of their firms by using the most advanced tools of virtual security and protection, this is why many computer scientists are hired in this sector.
Consider Tralfamadore, a hypothetical country that produces only burritos. In 2018, a burrito is priced at $4.00.
Complete the first row of the table with the quantity of burritos that can be bought with $300.
Hint: In this problem, assume it is not possible to buy a fraction of a burrito, and always round down to the nearest whole burrito. For example, if
your calculations result in 1.5 burritos, the answer should be 1 burrito.
Price of a Burrito Burritos Bought with $300
Year (Dollars)
(Quantity)
2018
4.00
2019
4.80
Answer:
price of a burrito in 2018 = $4.00
In 2018, you could purchase $300 / $4 = 75 burritos.
Since the money supply increased by 20% during 2019 and money neutrality holds, the price of burritos will increase by 20% to $4.80.
In 2019, you could purchase $300 / $4.80 = 62.5 ≈ 62 burritos.
By printing more money to pay its debts, the government simply increased the inflation rate and devaluated its currency.
The number of burritos can be bought by $300 in year 2018 and 2019 is 75 and 62 burritos respectively.
A hypothetical country produces only Burritos.
In 2018, a burritos price = $4
In 2019, a burritos price = $4.8
So, in 2018 the number of burritos can be bought by $300 = [tex]\bold {\dfrac{300} {4} }[/tex]
= 75 burritos
in 2018 the number of burritos can be bought by $300 =[tex]\bold {\dfrac{300} {4.8} }[/tex]
= 62.5 = about 62 burritos.
Therefore, the number of burritos can be bought by $300 in year 2018 and 2019 is 75 and 62 burritos respectively.
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The accounting effects of inventory sales across companies within a consolidated entity are removed when preparing consolidated financial statements because:_______
Answer:
The accounting effects of inventory sales across companies within a consolidated entity are removed when preparing consolidated financial statements because:
- usually from a consolidated statements, transactions with outside parties are only reflected.
- usually from a consolidated perspective, there is neither a sale nor a purchase has occurred.