Answer:
$7,450
Explanation:
The computation of Salaries Payable is shown below:-
Gross Payroll $10,000
Less:
Federal income tax withheld $1,800
Social security rate at 6% -$600
Medicare rate at 1.5% -$150
Total deduction -$2,550
Salary Payable $7,450
We simply deduct three above taxes from the gross payroll so that we get to know for the salary payable amount
The purpose of stock valuation isGroup of answer choicesof limited value, since the efficient market hypothesis proves that all common stock is always fairly priced.to find common stocks whose market price equals the intrinsic value.to determine whether the common stock's value is fairly represented by its market price.to set the fair market price for a given common stock.
Question 8 of 25
A factory laying off a lot of workers in a town is most likely to lead to which of
the following?
O A. Economic recovery.
B. A buyer's market.
C. Increase in population density.
O D. Rise in housing investment.
CIT
Answer:
B. A buyer's market
Explanation:
Answer: A buyer's market
Explanation:
Manila Water, the provider of the water and sewerage services in the capital of the Philippines has purchased the government-owned water and sewerage system for the entire country. It promises to make the nation's water and sewerage system run as efficiently and profitably as the one it operates in Manila. The development, maintenance, and allocation of resources to achieve its goal will require:
Answer:
Planning
Explanation:
Planning can be defined as what is needed and required to achieve a desired goal because PLANNING is the first and foremost activity often needed to achieve a desired goal or results reason been that PLANNING involves the creation as well as the maintenance of a plan and it helps to achieve objectives which is why every organization or company always has certain objectives in which they keep on working hard to fulfill these goals and objectives which in turn helps the organization to achieve their aims.
Therefore based on the information given about Manilla water the development, maintenance, and allocation of resources to achieve its goal will require PLANNING.
One of the easiest methods of diversifying away firm-specific risks is to: Multiple Choice build a portfolio with 40 to 55 individual stocks. buy only stocks with a beta of 1.0. purchase stocks that plot above the security market line. purchase the shares of an index fund.
Answer:
Option D. purchase the shares of a Index fund.
Explanation:
The reason is that the index funds are itself a mutual fund investment and they follow preset rules which helps an ordinary investor to understand those rules easily. Furthermore, they are already a diversified investment, hence investing in the shares of mutual fund makes the investment risk diversified investment.
Suppose that Barack and Michelle are duopolists. Barack is producing 300 units of output, and Michelle is producing 400 units of output. When Michelle produces 400 units, Barack maximizes profit by producing 300 units. When Barack produces 300 units of output, Michelle maximizes profit by producing 400 units. Barack and Michelle are
Answer:
Barack and Michelle are at a Nash equilibrium
Explanation:
They are at a Nash equilibrium i.e. they are producing at a point were they will be making a profit of irrespective of the strategy choose by the other firm in the market.
In a Nash equilibrium, every person in a group makes the best decision for herself, based on what she thinks the others will do
On January 1, the Elias Corporation issued 10% bonds with a face value of $113,000. The bonds are sold for $110,740. The bonds pay interest semiannually on June 30 and December 31 and the maturity date is December 31, ten years from now. Elias records straight-line amortization of the bond discount. The bond interest expense for the year ended December 31 of the first year is.
Answer:
The bond interest expense for the year ended December 31, of the first year is $5,650
Explanation:
We will need to calculate the total annual interest expense on the bond which we are given as 10% of the face value. We will then divide the total interest on the bond by 2 because the pays semi-annual interest.
Total interest expense on the bond will therefore be ; 10% × $113,000
= $11,300
Semi-annual interest expense will now be ;
= $11,300/2
= $5,650
Jay Farnswood is the president of a local group of real estate agents. At their monthly luncheon meeting, Farnswood stood and told his colleagues that he simply could not survive by charging the 5 percent commission rate and noted, "I don't know what the rest of you are going to do, but as an organization we all need to start charging 6 percent commission on our listings." Farnswood's statement:
Answer: constitute price fixing
Explanation:
Price fixing is an agreed price by participant on the same party of a market either buying or selling a product or rendering services to the aim of maintaining the stability of the market in it's supply and demand.
Jay is trying to speak with other real estate agents on them having a fixed price to be issued to their clients. This is known as constitute price fixing
A. English Common Law
B.Ethical dilemmas
C.Stare decisis
D.Utilitarian decision making
Answer:
C
Explanation:
no idea what a,b,c, and d are for. no question?
Shakira has a balance of $202.86 in her checking account on Saturday morning. She uses her debit card to pay her cell phone bill of $80.73 over the phone. She then picks up her dry cleaning, dog food at the pet store and groceries for debits of $16.89, $35.24, and $113.92. Shakira’s bank uses a balance system of deducting highest transactions first. The bank will not return amounts up to a total of $50 in overdraft, but they do charge a fee for each overdraft. How many overdraft fees will Shakira incur
Answer:
Shakira's bank will charge her 2 overdraft fees for purchasing dog food and her dry cleaning bill.
Explanation:
Shakira's initial balance $202.86
- groceries $113.92
balance = $88.94
- cell phone bill $80.73
balance = $8.21
- dog food $35.24
balance = $27.03 ⇒ OVERDRAFT 1
- dry cleaning $16.89
balance = $43.92 ⇒ OVERDRAFT 2
The number of overdrafts incurred by Shakira is: Two overdrafts.
Overdrafts and Checking accountsAccording to the question;
She has a balance of $202.86.Hence, upon the cell phone payment and the groceries debit which are first deducted;
New balance = $202.86 - $80.73 - $113.92 = $8.21.Hence; The other debits result in an overdraft as follows;
$8.21 - $16.89 = - $8.68 ....1st overdraft.- $8.68 - $35.24 = -$43.92.....2nd overdraft.Read more on overdraft;
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You are a consultant specializing in estimating the costs after the employees learn how to do a job more efficiently by repetition. Your client can produce a product the first time at a cost of $2,500. If their 65 percent learning curve allows them to reduce their costs on each product, what is the total cost of producing 400 units of the new product?
Answer:
$58,600
Explanation:
The computation of the total cost for producing the 400 units for the new product is shown below:
= Learning curve at 65% for producing 400 units × cost for produced first time
= 23.44 × $2,500
= $58,600
By multiplying the Learning curve at 65% for producing 400 units with the cost i.e produced first time so that the total cost could come and the same is to be considered
Halverstein Company's outstanding stock consists of 7,000 shares of cumulative 5% preferred stock with a $10 par value and 3,000 shares of common stock with a $1 par value. During the first three years of operation, the corporation declared and paid the following total cash dividends.Dividends Declared & PaidYear 1 $ 0Year 2 $ 6,000Year 3 $ 32,000The amount of dividends paid to preferred and common shareholders in Year 2 is:
Answer:
Preferred shareholders $6,000
Common shareholders = $0
Explanation:
Preference Stock holders have preference over Common stock holders when it comes to payment of dividends.
Also if the preference stocks are cumulative, previous dividends in arrears have to be settled before any distributions are made to common stockholders.
Preference Stock dividend per year is constant and is calculated as follows.
Preference Stock dividend = 7,000 × $10 × 5%
= $3,500
Year 1
No dividend was declared and paid.
Preference Stock dividend in arrears is $3,500.
No dividend is available for Common stockholders
Year 2
Dividend declared and paid amount to $6,000
Preference Stock dividend in arrears from first year to be paid is $3,500.
Preference Stock dividend in current year to be paid is $3,500.
This leaves an arrear of $1,000 to be paid to Preference Stock holders after the payments.
Calculation = $6,000 - $3,500 (Year 1) - $3,500 (Year 2) = $1,000 (Arrears)
No distributions are available for Common stockholders.
Conclusion :
The amount of dividends paid to preferred and common shareholders in Year 2 is:
Preferred shareholders $6,000
Common shareholders = $0
Ravina is the owner of a large bakery that specializes in customized cupcakes for special occasions. When she refurnishes her kitchen, she finalizes a layout that groups various kitchen appliances and equipment according to the type of task they perform. According to Ravina, such a layout will help her in customizing small orders. Given this information, it can be inferred that Ravina has chosen a _____ for her kitchen.
Which of the following conditions distinguishes monopolistic competition from perfect competition? a. the freedom of entry and exit by firms in the market b. the number of sellers in the market c. the size of firms in the market d. product differentiation
Answer:
d)product differentiation
Explanation:
monopolism is when only one producer in the area produces the good/service thus there is no competition eg power supply company while perfect competition is when same type of products but different styles are produced making the business environment competitive.
The distinguishes monopolistic competition from perfect competition is product differentiation. The correct option is (d).
What do you mean by the monopolistic competition?When a large number of businesses provide rival goods or services that are comparable but imperfect alternatives, monopolistic competition exists.
A monopolistic competitive industry has minimal entry requirements, and decisions made by any one firm do not immediately affect those of its rivals.
Monopolistic competition is a sort of imperfect competition when numerous manufacturers compete with one another yet sell various items that are not exact substitutes for one another.
Therefore, the distinguishes monopolistic competition from perfect competition is product differentiation.
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Albinson Company paid $96,000 for a two-year insurance policy on October 1 and recorded the $96,000 as a debit to Prepaid Insurance and a credit to Cash. What adjusting entry should Albinson make on December 31, the end of the accounting period (no previous adjustment has been made)
Answer:
Debit Insurance expense $12,000
Credit Prepaid Insurance $12,000
Explanation:
When insurance is paid in advance, the entries required are
Debit Prepaid Insurance
Credit Cash account
As time elapses and the insurance expires,
Debit Insurance expense
Credit Prepaid Insurance
Monthly insurance expense
= 1/24 * $96,000
= $4,000
Between October 1 and December 31 is 3 months
Total insurance expense = 3 * $4,000
= $12,000
For a depository institution, reserves are: liabilities it owes to customers. assets on the balance sheet. borrowings from the central bank. checkable deposits. loans to individuals and businesses
Answer:
assets on the balance sheet.
Explanation:
Reserves are percentages of deposits that are required for depository institutions to keep to meet unforeseen contingency. they are usually kept in bank vaults
they are assets and they cannot be lent out
Why did Krispy Kreme decide to manufacture all the donut mix and distribute it to the stores?
a) it made the products more consistent in various stores
b) franchise law demands is kind of central production
c) It is always cheaper to use this method
d) The company was having problems with distributors
Answer:
Option A
Explanation:
In simple words, Krispy Kreme Doughnuts, Inc. is an American doughnut company and coffeehouse chain owned by JAB Holding Company. Krispy Kreme was founded by Vernon Rudolph, who bought a yeast-raised recipe from a New Orleans chef, rented a building in 1937 in what is now historic Old Salem in Winston-Salem, North Carolina, and began selling to local grocery stores.
They make all their dough of the product by themselves so that the neutrality regarding their consistency remains intact thought the country,
Economist Jones favors a constant-money-growth-rate rule. She says that if the annual money supply growth rate each year is equal to the average annual growth rate in Real GDP, price stability will exist over time. What would economist Smith, who favors activist monetary policy, say to economist Jones?
Answer: d. b and c
Your analysis assumes that velocity is constant, and it is not.
Your analysis assumes that you can correctly define the money supply
Explanation:
Here are the options for the question:
a. Your analysis assumes that Real GDP is constant over time, and it is not.
b. Your analysis assumes that velocity is constant, and it is not.
c. Your analysis assumes that you can correctly define the money supply.
d. b and c
e. a, b and c
According to the constant-money-growth-rate rule, the government should target money growth rate in a way that it will be equal to growth rate of the real GDP.
The likely thing that economist Smith, who favors activist monetary policy would say to economist Jones is that Jones is assuming velocity will be constant, and is also correctly defining the money supply which should not.be the case as velocity isn't always constant.
If a company is considering the purchase of a parcel of land that was acquired by the seller for $87,000 is offered for sale at $154,000, is assessed for tax purposes at $97,000, is considered by the purchaser as easily being worth $144,000, and is purchased for $141,000, the land should be recorded in the purchaser's books at:
Answer:
$141,000
Explanation:
The company must record the land at the price at which it purchases it. In this case, the company purchased the land at $141,000, so following the historical cost principle (accounting principle), that is the value.
The historical cost principal (under US GAAP) states that any asset must be recorded at the price at which is was acquired even if their market value might be different.
Shannon Company segments its income statement into its North and South Divisions. The company’s overall sales, contribution margin ratio, and net operating income are $480,000, 36%, and $9,600, respectively. The North Division’s contribution margin and contribution margin ratio are $92,000 and 40%, respectively. The South Division’s segment margin is $32,500. The company has $62,400 of common fixed expenses that cannot be traced to either division. Required: Prepare an income statement for Shannon Company that uses the contribution format and is segmented by divisions. In addition, for the company as a whole and for each segment, show each item on the segmented income statements as a percent of sales. (Round your percentage answers to 1 decimal place (i.e. 0.1234 should be entered as 12.3
Answer:
Shannon Company
Segmented Income Statement
Total Company North South
Division Division
Total sales 480,000 100% 230,000 47.9% 250,000 52.1%
Variable costs 307,200 100% 138,000 44.9% 169,200 55.1%
Contribution margin 172,800 100% 92,000 53.2% 80,800 46.8%
Traceable fixed 100,800 100% 52,500 52.1% 48,300 47.9%
Segment income 72,000 100% 39,500 54.9% 32,500 45.1%
Common fixed 62,400 100%
Net income 9,600 100%
North's total sales = $92,000 / 40% = $230,000
South's total sales = $480,000 - $230,000 = $250,000
South's contribution margin = $172,800 - $92,000 = $80,800
Total segment income = common fixed + net income = $62,400 + $9,600 = $72,000
Charles wants to survey recent customers about the quality of service they received. He has customers' mailing and e-mail addresses. Charles will likely use an online survey primarily because it offers: Group of answer choices more lying by respondents. a chance to exclusively ask unstructured questions. a more inexpensive and quick way to receive and process results. relatively low response rates. improved question design.
Answer:
a more inexpensive and quick way to receive and process results
Explanation:
Online surveys are cheap because in most cases they can be freely sent and distributed on the internet, for example, to the e-mails of the customers.
And they are also easy to process. Finally, they are likely to be responded by many customers as long as they are not too complicated or bothersome. For this reason, they should be short, have very concise and clear questions, and offer privacy to customers if necessary.
The results can be easily analyzed manually or with specialized software.
Shrives Publishing recently reported $13,000 of sales, $5,500 of operating costs other than depreciation, and $1,250 of depreciation. The company had $3,500 of bonds that carry a 6.25% interest rate, and its federal-plus-state income tax rate was 35%. During the year, the firm had expenditures on fixed assets and net operating working capital that totaled $1,550. These expenditures were necessary for it to sustain operations and generate future sales and cash flows. What was its free cash flow?
Answer: $3762.50
Explanation:
Given the following :
Sales = $13,000
Operating Cost other than Depreciation = $5,500
Depreciation = $1250
Bond value = $3,500
Interest rate = 6.25%
Tax rate = 35%) = 0.35
Expenditure on fixed assets and net operating working capital = $1,550
What was its free cash flow?
Free cash FLOW (FCF) = EBIT(1 - tax rate) + depreciation - ( Expenditure on fixed assets and net operating working capital)
EBIT = Earning before income tax;
EBIT = SALES - Operating Cost other than DEPRECIATION - DEPRECIATION
EBIT = $13000 - $5500 - $1250 = $6250
FCF = $6250(1 - 0.35) + $1250 - $1550
FCF = $6250(0.65) + $1250 - $1550
FCF = $4062.50 + $1250 - $1550
FCF = $3762.50
Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has a debit balance of $992,000 and sales for the year total $11,240,000. The allowance account before adjustment has a credit balance of $13,400. Bad debt expense is estimated at 1/4 of 1% of sales. The allowance account before adjustment has a credit balance of $13,400. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $42,900. The allowance account before adjustment has a debit balance of $5,300. Bad debt expense is estimated at 1/2 of 1% of sales. The allowance account before adjustment has a debit balance of $5,300. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $44,000. Determine the amount of the adjusting entry to provide for doubtful accounts under each of the assumptions (a through d) listed above. a. $ b. $ c. $ d. $
Answer:
a) Bad debt expense is estimated at 1/4 of 1% of sales. The allowance account before adjustment has a credit balance of $13,400.
Dr Bad debt expense ($28,100 - $13,400) 14,700
Cr Allowance for doubtful accounts 14,700
b) The allowance account before adjustment has a debit balance of $5,300.
Dr Bad debt expense ($28,100 - $5,300) 22,800
Cr Allowance for doubtful accounts 22,800
c) Bad debt expense is estimated at 1/2 of 1% of sales.
Dr Bad debt expense ($56,200 - $13,400) 42,800
Cr Allowance for doubtful accounts 42,800
d) An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $44,000.
Dr Bad debt expense ($44,000 - $13,400) 30,600
Cr Allowance for doubtful accounts 30,600
Explanation:
accounts receivable $992,000
total sales for the year $11,240,000
allowance for doubtful accounts $13,400
total estimated bad debt = 0.25% x $11,240,000 = $28,100
total estimated bad debt = 0.5% x $11,240,000 = $56,200
When Callie wants to obtain information to research changes in her market or determine what her customers are likely to want in the future, she relies on the articles and data available in trade journals, feedback from surveys, and personal interviews of her customers. Which of the following statements about Callie's sources of information is most accurate?
A. Callie is relying entirely on primary data for her research needs.
B. Callie is relying entirely on secondary data for her research.
C. The surveys and personal observations provide primary data, while the journals provide secondary data.
D. The surveys and personal observations provide secondary data, while the journals provide primary data.
Answer:
C. The surveys and personal observations provide primary data, while the journals provide secondary data.
Explanation:
Primary data is defined as data obtained from analysis of a sample or population of interest.
Secondary data is one that is obtained from primary data. That is primary data that is put to some use.
In the given scenario the surveys and personal interviews of the customer are a primary source of data. Directly from the customer.
Data from journals is a secondary data source, as this contains information from previous studies (other primary data).
" Brad always buys and uses Nike brand golf balls. If he finds a Titlelist or Callaway ball in the rough, he gives it away. Brand loyal golfers like Brad allow Nike to charge a higher price and not lose many sales. Nike has effectively: "
Answer:
b. reduced the price elasticity of demand for its products.
Explanation:
The price elasticity of demand refers to the relationship between the percentage change in the price of a good and the percentage change in the quantity demanded
Like it in the question, it is mentioned that Nike charged a higher price and does not want to lose many sales which results that it declines the price elasticity of product demands
In one of her weekly live videos, the Federal Reserve Chairman remarked that inflation had begun to tick upward. However, unemployment in the U.S was still quite high and economic growth had slowed. With short-term interest rates close to 0 (zero), the Chair did not visualize that ____________ policy would be able to do anything for the high unemployment problem. She felt that _______ policy would be more useful for bolstering employment, but that would require local and state governments and the federal government to provide tax breaks for corporations.
Answer:
Monetary, Fiscal
Explanation:
Interest rate can be easily be said to be the amount due on an a loan. Monetary policies usually involve rules and regulation regarding money and how it affects the economy and sub-sections of the economy.
In the question, monetary policy h nothing to do to the state of unemployment in the US since no unemployed persons can be taking loans as there would not be a means to pay back.
Fiscal policy on the other hand can be defined as the use of a government's revenue collections and expenditure to influence an economy. This means that the government of any country uses collections such as taxes or tax cuts to improve the situation of the country.
From the above question, a fiscal policy can be used to tackle the unemployment in the US as the government can channel its expenditure and collections to the creation of jobs through establishment of companies and other opportunities.
Cheers.
The fictional school: Oakland Community College increases the income tax rate so that tax revenues increase by $70 million. Government spending also increases by $70 million and consumption falls by $10 million. If GDP remains the same and Oakland Community College is a closed economy, then investment a. increases by $140 million. b. increases by $70 million. c. decreases by $60 million. d. decreases by $80 million.
Answer: c. decreases by $60 million
Explanation:
The formula for Gross Domestic Product (GDP) in a closed economy using the Expenditure method is;
GDP = Consumption + Government Spending + Investment
Therefore;
Investment = GDP - Consumption - Government Spending
GDP remained the same = $0
Consumption fell by $10 million = -$10 million
Investment = 0 - (-10) - 70
Investment = - $60 million
Drs. James and Janet Baker saw that many people experienced difficulty and frustration when typing, some because of physical disabilities. So they invented a voice recognition software to allow users to talk to the computer. Their ideas have become Dragon Naturally Speaking, a popular talk-to-type software application. Which of these statements describes their startup?
A) Borrow heavility from existing products or services.
B) Combine two businesses to create a market opening.
C) Begin with a problem in mind or a pain you can relieve.
D) Recognize a hot trend and ride the wave.
The________includes a message source that encodes an idea into a message and transmits the message through some medium. Marketing messages exploit a variety of appeals and message structures. The message is transmitted using one of several different communications media and is finally delivered to a receiver, who decodes the message and may provide feedback to the source. Anything that interferes with the communication is called noise.
Answer: Traditional communication model
Explanation:
The Traditional Communication Model was mostly a one-way street where advertisers spoke to customers and may or may not have received feedback.
It worked like this;
A advertising agency (source) made up a message ⇒ message is then transmitted through a medium such as a newspaper or television ⇒ message is then seen/ delivered to consumer (receiver).
The consumer may then choose to reply or rather provide feedback through indirect means such as buying the good or service that was advertised.
ullbright Company sold goods to Blue Dirt Company for $400,000 in exchange for a 4-year, zero-interest-bearing note with a face amount of $629,406 (imputed rate of 12%). The goods have an inventory cost on Fullbright’s books of $240,000. What amount of Sales Revenue should Fullbright recognize in 2017?
Answer:
The amount of Sales Revenue Fullbright should recognize in 2017 is $400,000
Explanation:
The total value of $629,406 of the note includes the amount of interest revenue which would be $229,406 which is gotten from (629,406-400,000). The value of sales revenue will be $400,000
The amount of Sales Revenue Fullbright should recognize in 2017 is $400,000
Which of the following does not appear on the asset side of a bank's balance sheet? Question 19 options: a) required reserves b) checkable deposits c) loans d) excess reserves
Answer: b) checkable deposits
Explanation:
Checkable Deposits are the deposits by customers into the bank. The bank uses these funds to make loans that it issues out to others. It is recorded as a liability on a Banks Balance sheet because it represents that the bank owes its customers.