Answer:
The depreciation expense for 2020 is C. $49,143
Explanations :
Straight line method charges a fixed amount of depreciation for the period of use of an asset.
Depreciation Charge = (Cost - Residual Value) / Estimated useful life
2017
Depreciation Charge = ($530,000 - $14,000) / 7 years
= $73,714.29
2018
Depreciation Charge = $73,714.29
2019
Depreciation Charge = $73,714.29
2020
The estimated useful life is now estimated at 9 years in total (hence 6 years remaining) and the residual value remain unchanged.
Depreciation Charge = (Cost - Accumulated depreciation to date - Residual Value) / Remaining useful life
= ($530,000 - $73,714.29 - $73,714.29 - $73,714.29 - $14,000) / (9 - 3) years
= $294,857.13 / 6 years
= $49,142.855 or $49,143 (to the nearest dollar.)
Conclusion :
The depreciation expense for 2020 is $49,143 (to the nearest dollar.)
Review the following conversation: Marcy: Dana, can I talk to you for a couple of minutes? We’ve been roommates for two years and I think I have a time management problem. I just don’t get enough done in a day. What do you think? Dana: Tell me more. How did you decide that you have a problem? Marcy: I never get everything done on my to-do list. The more I get done, the more I end up adding to the list. Dana: What would solving the problem look like to you? Marcy: Well, I’d get everything done on my list. Dana: Is that
Answer:
Coaching.
Explanation:
Coaching is demonstrated as the method of training in which a more experienced or proficient person provides suggestions and guidance to an individual(employee) with an aim to build and develop his/her skills, competence, performance, and career. The managers are required to be efficient coaches as it helps them in promoting better engagement in the team and enhancing productivity as well as customer support of the organization. It helps the managers to develop the skills in employees and boost their self-confidence which makes them able to overcome challenges effectively, improve their performance, and reach desired goals.
Assume a person saves $62 a month by using coupons and doing comparison shopping. a. What is the amount of annual savings? b. What would be the future value of this annual amount over 10 years, assuming an interest rate of 4 percent? Use Exhibit 1-B. (Round FVA factor to 3 decimal places and final answer to 2 decimal places.)
Answer:
Annual savings= $744
FV= $8,932.54
Explanation:
Giving the following information:
Assume a person saves $62 a month by using coupons and doing comparison shopping.
A. Annual savings= 62*12= $744
B.
i= 0.04
n=10
To calculate the future value, we need to use the following formula:
FV= {A*[(1+i)^n-1]}/i
A= annual saving
FV= {744*[(1.04^10) - 1]} / 0.04
FV= $8,932.54
(1) You go to Greater's Ice Cream and see the price of a cone quoted as $3.00. (2) You buy the cone and pay with $3.00 in cash. In the first instance money serves as ___________, while in the second instance money serves as ___________. Choose one: A. a unit of account; a store of value B. a medium of exchange; a store of value C. a medium of exchange; a unit of account D. a store of value; a unit of account E. a unit of account; a medium of exchange F. a store of value; a medium of exchange
Answer:
The answer is E. a unit of account; a medium of exchange
Explanation:
Because they allows different things to be compared against each other; for example, goods, services, assets, liabilities, labour income, expenses.
A unit of account is a monetary unit of measurement of value or cost.
And the second is a medium of exchange because $3 is being used to buy cone. It exchanged money for cone.
An activity-based costing system ______. requires substantial resources provides benefits of improved accuracy that always outweigh the costs produces different numbers than a traditional system is costly to maintain
Answer:
1. Requires substantial resources.
2. produces different numbers than a traditional system.
3. Is costly to maintain.
Explanation:
Activity-based costing (ABC) system is a method of accounting assigns the total cost of activities such as manufacturing overhead costs and indirect costs necessary to produce a product or provide a service.
Basically, an activity-based costing (ABC) system is focused on the cost drivers associated with the respective activities, which are responsible for cost to be incurred. The cost drivers are activities such as direct labor, purchase order, machine use etc.
Hence, an activity-based costing system requires substantial resources, produces different numbers than a traditional system and is costly to maintain.
An activity-based costing system Requires substantial resources, produces different numbers than a traditional system, and Is costly to maintain. Thus options A, C, and D are correct.
The ABC system (activity-based costing) is an accounting technique that determines the entire cost of activities like manufacturing overhead expenses and indirect costs required to create a good or deliver a service.
An activity-based costing (ABC) system basically focuses on the cost drivers connected to the corresponding actions that cause costs to be incurred. Activities including direct labor, purchase orders, equipment utilization, etc., are the cost drivers.
As a result, an activity-based costing system is expensive to run, takes significant resources, and generates data that differs from that of a typical system.
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Your question seems to be incomplete, but most probably the complete question was:
An activity-based costing system ______.
A. requires substantial resources provides
B. benefits of improved accuracy that always outweigh the costs
C. produces different numbers than a traditional system
D. is costly to maintain
For most producing firms:_______.
a. average total costs decline as output is carried to a certain level, and then begin to rise.
b. marginal cost rises as output is carried to a certain level, and then begins to decline.
c. average total costs rise as output is carried to a certain level, and then begin to decline.
d. total costs rise as output is carried to a certain level, and then begin to decline.
Answer:
letter a is the correct answer
Explanation:
Carl’s business insurance costs $3,000 per year. Carl paid for and purchased a 12-month insurance policy on October 1, Year 1. On October 1, Year 2, Carl’s insurance increased to $3,300 per year. A building contract Carl was working on was delayed when they had to obtain additional permitting. Because cash flow was tight, Carl delayed renewing the insurance policy. Instead of making the payment due on October 1, Year 2, Carl paid 3 months of insurance in arrears on January 1, Year 3. Carl is a cash-method taxpayer and took advantage of the 12-month rule in Year 1 for prepayments. What is Carl’s insurance expense deduction for Year 2?
Answer:
Carl's Insurance Expense Deduction for Year 2
Since he took advantage of the 12-month prepayments rule, his Year 2 Insurance deduction was deducted in Year 1.
While his deduction should have been equal to
= Annual Insurance Expense/12 x 9 = $3,300/12 x 9 = $2,475
In Year 2, it is equal to $0 since he did not make any payment for Insurance.
Explanation:
Under the cash method of accounting, two rules govern how someone can deduct prepaid expenses:
1. The General Rule
2. The 12-Month Rule
1. The General Rule
Under the general rule, you cannot deduct the full amount of an advance payment covering more than 12 months. You must deduct a portion of the payment in the year to which it applies.
Example: The General Rule.
Carl is a cash method taxpayer on a calendar year.
On October 1, 2018 Carl pays $3,600 in advance for business insurance covering three years.
Coverage begins October 1, 2018.
Coverage ends September 30, 2021.
Result:
The general rule applies.
The advance payment covers more than 12 months (36 months).
A portion of the $3,600 must be deducted ratably over the three-year period.
To find the portion of the $3,600 Carl deduct each tax year:
First, divide the $3,600 by 36 (months) to find the monthly premium amount.
Then, multiply the number of months remaining in each tax year by the monthly premium
Monthly premium: $3,600 / 36 = $100 per month.
Oct. 1, 2018 - Dec. 31, 2018: 3 x $100 = $300 deduction for 2018
Jan. 1, 2019 - Dec. 31, 2019: 12 x $100 = $1,200 deduction for 2019
Jan .1, 2020 - Dec. 31, 2020: 12 x $100 = $1,200 deduction for 2020
Jan. 1, 2021 - Sep. 30, 2021: 9 x $100 = $900 deduction for 2021
The 12-Month Rule
The 12-month rule says that Carl may deduct the full amount of an advance payment in the year the payment is made if it creates rights or benefits for the taxpayer that do not extend beyond the earlier of:
12 months after the right or benefit begins, or
The end of the tax year after the tax year in which payment is made.
Example 1: The 12-Month Rule.
Carl is a cash basis taxpayer on a calendar year.
On October 1, 2018 he pays $2,000 for business insurance covering one year.
The policy begins October 1, 2018 and ends September 30, 2019.
Result:
The 12-month rule applies.
Deduct the full $2,000 in 2018
The benefit does not extend beyond 12 months after the right to receive the benefit begins - October 1, 2018.
A coffee shop uses an online system to engage customers. After each transaction, customers receive a text asking them to rate their experience with either a smiley, neutral, or sad face emoji. This practice is an example of _______ control. behavioral concurrent bureaucratic feedforward feedback
Answer:
Feedback.
Explanation:
In this scenario, a coffee shop uses an online system to engage customers. After each transaction, customers receive a text asking them to rate their experience with either a smiley, neutral, or sad face emoji. This practice is an example of feedback control.
Feedback can be defined as the information acquired from customers or consumers about their reactions to a particular product bought or service taken. Business firms or entities use informations gathered through feedback to improve on the quality of their products or services being provided to consumers and to measure sales performance.
Florida state saving bond can be converted to $1000 at maturity date of five year from purchase if the state bond are to be competitive with the USA saving bonds which pay 1% interest compounded annually at what price will the state bonds sell
Answer:
The price will the state bonds sell would be $951.46
Explanation:
In order to calculate the price will the state bonds sell we would have to make the following calculation:
price will the state bonds sell=price to be converted/(1+interest rate)∧n
According to given data we have the following:
price to be converted=can be converted to $1,000 at maturity date of five year from purchase
interest rate=1%
n=5
Therefore, price will the state bonds sell=$1,000/(1+1%)^5
price will the state bonds sell=$951.46
The price will the state bonds sell would be $951.46
Mr. Jacob, who is terminally ill, writes a will transferring all his assets to his daughter Silvia, in the event of his death. The doctors say that Mr. Jacob will live for about six months. A day after the will is written, Silvia wishes to transfer her expected inheritance to her son, Jacob Jr. This assignment will be ________.
Answer:
Invalid
Explanation:
Since it is stated in the will, that upon his death should the assets be transferred, it means that Silvia doesn't get anything until Mr Jacob ceases to be alive.
With the new development as regards Mr Jacob living for 6 more months before dying, Silvia has no assets yet and as such cannot transfer anything to Jacob Jnr.
Cheers
Harriet forges a check from her employer’s checkbook. Her sister Ivy deposits the check at the bank. What is the usual term for Ivy’s actions? a. False impersonation. b. Criminal misuse of a financial instrument. c. Uttering. d. Unauthorized abatement.
Answer:
c. Uttering.
Explanation:
In this case, Harriet committed uttering of a forged financial document. Uttering is a crime and it refers to using, trading or offering a forged legal document. In this case, the forged legal document was a check, but uttering can also include forging a high school or college diploma and pretending to have graduated from the institution, and any other forging of legal documents.
An investment adviser structured as a partnership lends money to a customer to buy recommended securities. Under NASAA's Model Rule on Unethical Business Practices of Investment Advisers, Investment Adviser Representatives, and Federal Covered Advisers, this activity is
A) acceptable, provided the securities are used as collateral for the loan and the loan conforms to the provisions of Regulation T.
B) acceptable, provided the loan is made under the provisions of Regulation T of the Federal Reserve.
C) unethical.
D) acceptable, provided the securities are used as collateral for the loan.
Answer: Unethical
Explanation: Based on the model and policy of the North America Securities Administrator's Association, the investment adviser cannot lend money to a customer to purchase recommended securities under the guise of being partners, such behavior is deemed UNETHICAL and in violation of the rule binding the practices and investment advisers and investment adviser representatives.
Customers can purchase securities by taking loans from recommended or regulated lender, broker or bank.
In a closed economy, the values for gdp, consumption spending, investment spending, transfer payments, and taxes are as follows: y = $11 trillion c = $8 trillion i = $2 trillion tr = $1 trillion t = $2 trillion using the information above, what is the value of private saving and public saving?
Answer:
Private saving = $2 trillion
Public saving = $1 trillion
Explanation:
Private saving = GDP - Taxes + Transfer payments - Consumption spending
= Y - T + TR - C
= $11 - $2 + $1 - $8
= $2 trillion
Public saving = Taxes - Government spending - Transfer payments
= T - G - TR
= $2 - $0 - $1
= $1 trillion
Therefore;
Private saving = $2 trillion, Public saving = $1 trillion
Storico Co. just paid a dividend of $3.15 per share. The company will increase its dividend by 20 percent next year and then reduce its dividend growth rate by 5 percentage points per year until it reaches the industry average of 5 percent dividend growth, after which the company will keep a constant growth rate forever. If the required return on the company’s stock is 12 percent, what will a share of stock sell for today?
Answer:
$61.29
Explanation:
Calculation for what Storico Co. Share of stock will sell today.
Since we have a stock that has a normal growth in which the dividend growth changes every year for the first four years. We can therefore find the price of the stock in Year 3 because the dividend growth rate is constant after the third dividend, which means the price of the stock in Year 3 will be the dividend we are going to use in Year 4, we shall then divide it by the required return less the constant dividend growth rate.
Therefore the price in Year 3 will be calculated as :
P3= $3.15(1.20)(1.15)(1.10)(1.05) / (.12 – .05)
P3= $5.020785/0.07
P3=$71.72
Let find the price of stock today using the PV of the first three dividends in addition with the PV of the stock price in Year 3:
Hence,
P0= $3.15(1.20)/(1.12) + $3.15(1.20)(1.15)/1.12^²+ $3.15(1.20)(1.15)(1.10)/1.12^³+ $71.72/1.12^³
P0=$3.78/1.12+$4.347/1.2544+$4.7817/1.404928+$71.72/1.404928
P0=$3.375+3.465+3.4035+$51.048
P0= $61.29
Therefore if the required return on the company’s stock is 12% what the share of stock will sell for today will be $61.29
An employee who just finished an MBA paid for by a firm’s tuition reimbursement program might feel a moral obligation to stay with the employer for at least a few years to repay the debt. This person would be classified by which type of commitment? A. continuance commitment B. none of these C. normative commitment D. affective commitment
Answer:
The answer is C.
Explanation:
Normative commitment refers to the perception of employees about how long they should still stay at their organisation. Normatively committed employees generally feel that they should stay at their organisations.
Because it was the organization that paid for his MBA, the employee might want to repay its employer by staying, working harder, perhaps for a few years.
Great Britain, Denmark, and Sweden have stayed out of the euro zone because of the Multiple Choice dollar peg advocated by some members of the European Union. implied loss of national sovereignty to the European Central Bank. volatility of the euro. reluctance to compete directly against the U.S. dollar. reluctance to be considered an optimal currency area.
Answer:
implied loss of national sovereignty to the European Central Bank
Explanation:
Unlike France, that has adopted the Euro as its currency, Great Britain, Denmark and Sweden have all decided to stay out of the Euro zone. This is because accepting the Euro as their currency will mean that the European Central Bank, through the Euro, has power over their economies as a result of exchange.
Also, staying away from the Euro zone means that the European central bank doesn't have control of their monies among other things.
Cheers
Jamir has decided that he needs a new car. He has found the model and color he wants for a purchase price of $25,838.
To buy the car, he must put 10 percent down, and his loan is for five years with an interest rate of 4.4 percent. His payments are $432.46.
To lease the car, he can sign a three-year contract with payments of $290. He needs to provide $1,500 up front to pay initial fees and his first month's payment. His annual mileage cannot exceed 15,000 miles.
Jamir’s new job is 25 miles away from his home. What is the most important thing he needs to consider before agrees to a lease?
Answer:
he will do more than 15,000 miles a year
Explanation:
Answer:
b) He will have to come up with a bigger down payment. c) His monthly payments will be higher.
Explanation:
can't see my options but got a question like this on edge.
Which of the following damages would be covered under the Liability Coverage of the Personal Auto policy? A Damage to a neighbor's riding lawn mower in the care of the insured B Damage to a rental car rented to the insured C Damage to property being transported by the insured D Damage caused to a rented garage by the insured auto
Answer: Damage caused to a rented garage by the insured auto
Explanation:
Personal Auto insurance policy is a policy that's is bought by vehicle owners in order to mitigate the costs which results from one getting in an accident with the vehicle.
Under the Liability Coverage of the Personal Auto policy, the damage that would be covered will be damage caused to a rented garage by the insured auto.
The two most basic inventory questions answered by the typical inventory model are: Group of answer choices Order quantity and service level Timing and quantity of orders Quantity and cost of orders Ordering cost and carrying cost Timing and cost of orders
Answer:
timing of orders and order quantity.
Explanation:
The economic order quantity is the quantity at which the carrying cost and the ordering cost is equal to each other. It depicts the number of units that added in the inventory and it makes that number of units orders so that it can lowered the total inventory cost i.e purchase cost, carrying cost and the ordering cost
On the other hand, the reorder point is the point at which the firm holds the stock and when it reaches that point at which the firm is able to reorder the items
Therefore the order timings and the quantity orders are the two basic inventory questions i.e to be answered.
I really need help with this question on an ASU leadership online class:
A group will usually only be as good as ____________________________ of the group.
Answer:
the leader
Explanation:
A group will usually be only as good as the leader of the group.
The leader of a group is the person that coordinates and controls the activities of the group. The skills of the leader and the experience he/she has will determine how well-coordinated, or otherwise, the group would be.
Hence, the quality of a leader of a group always rubs off on the general outlook of the group. That is why it is said that a group will usually be only as good as the leader of that group.
Corporate parenting generates corporate strategy by focusing on:_____.
a) differentiating its activities into separate units and integrating these activities through complex integrating mechanisms.
b) the cash flow among its business units.
c) the core competencies of the parent corporation and on the value created from the relationship between the parent and its units.
d) whether a business unit should be growing, stabilizing, or retrenching.
e) acquiring distinctive competencies in the marketplace.
Answer: c) the core competencies of the parent corporation and on the value created from the relationship between the parent and its units.
Explanation:
A _________ is when you take money out of the bank. (Select the best answer.) A _________ is when you take money out of the bank. (Select the best answer.) Withdrawal Deposit Teller Branch
withdraw
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How do economists use economic models
Answer:
Economists use economic models to study particular aspects of economic reality. To do so, they develop a simplified model of reality in which only a few variables are included, and everything else is held constant or ignored.
Explanation:
For example, the most famous economic model is the model of supply and demand, which is used to analyze how consumers and producers interact in the market for a good or service, and how this interaction determines the price.
As we can see, in this economic model of supply and demand, many other things like social class or history are left aside, and only a few variables are included.
Group companies normally trade with each other and are involved in other forms of business relationships. Discuss the impact that this will have on group performance and tell how these transactions are dealt with in the books of the group as a whole
Answer:
Some of the impacts that will have on group performance:
Cost cutting due to transfer pricingRevenue increase due to internal tradingThe internal trading transactions will be separated from the reconciliation statements.
Explanation:
Leo wasn’t planning to buy any clothes when he was out shopping for other things, but then he saw that pants were on a 25 percent off sale, and any shopper who bought three pairs of pants also got a coupon for an additional 25 percent off their next purchase. Leo fell sway to
Answer:
An effective sales strategy
Explanation:
Remember, a sales strategy encompasses all efforts by a retailer or company to successfully sell off their products.
One example of a sales strategy is marketing/promotion. By means of an effective product promotion, the seller was able to attract customers due to the discounts they offered, which captivated Leo. This method was effective because Leo wasn’t planning to buy any clothes when he was out shopping but he ended up doing so.
Definitely, Leo fell sway to That's-not-all technique.
The TNA technique is a promotion techniques that offers the product at an initial price and later improves the deal by reducing the price or adding extra product before the customer responds to initial offer.
The that's-not-all technique entails 2 step procedure for enhancing the compliance
Presentation of an initial large and fair request.Making the request more attractive by reducing it to a modest request before the person can respond to the initial request.In conclusion, Leo fell sway to That's-not-all technique.
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Sal purchased a used toaster at a yard sale. The seller told Sal that although the toaster was more than 10 years old, she had not had any problems with it. Sal takes the toaster home and uses it for a few months. One day, however, as Sal was using the toaster, it malfunctioned and caused a small fire in Sal's kitchen along with significant smoke damage. Sal decides to sue the manufacturer of the toaster and will do so within one month of the fire. What would likely be the manufacturer's best defense in a strict liability in tort action brought by Sal?
Answer:
The manufacturer of the toaster would argue from the point of view of the warranty offered for the toaster. In most electronic products, the manufacturer offers warranty ranging from 1 year to 5 years.
For the toaster to have worked for more than 20 years without any problem shows that it was a good product. And, the warranty must have expired hence the need not to be held responsible for whatever happened to it.
Explanation:
Replay Sports Stores and SportsPower Products, Inc., enter into a contract for a sale of trampolines. SportsPower Products is a merchant who deals in goods of the kind sold. Under the UCC, an implied warranty of merchantability arises
Answer: Automatically
Explanation: The warranty of merchantability could be explained as a guarantee that a product purchased will meet the usual and regular standard or requirement of such product. Under the Uniform Commercial Code, the warranty of merchantability is implied as this automatic unless the defects in the regular nature or specification of the product is clearly stated. In the scenario above, the warranty of implied merchantability automatically arises in the sale of the trampolines and as such, the trampoline must meet the regular standard of the product since no defect is explicitly stated in the regular specification.
Suppose that kyle and lisa are both in the public eye. they get offers to sell secrets of the other to tabloids. if both keep the secrets, they are both better off than if they get exposed. if only one is exposed, the other person is better off than if no one was exposed. thier payoffs from each option are given in the payoff matrix below.
Answer:
Give us more
Explanation:
No payoff matrix included, and no question present.
If I was gonna be a business person what would I be and why?
Answer:
peter druker and write about him and the stuff he did write that he is the person u look up for
Greg and Wanda Sandler purchased their home 35 years ago and it was paid off at the end of thirty years. In order to supplement their fixed income, the Sandlers receive monthly checks from their bank. Most likely, what did they get?
Answer:
Reverse annuity mortgage
Explanation:
A reverse annuity mortgage can be defined as a loan that is been secured against the value of a person home or an individual home reason been that It allows and enables that individual to cash in some of his or her home's equity, without having to sell them or move out.
In another word REVEREE ANNUITY MORTGAGE can be seen a type of mortgage which occured when a homeowner's equity is been gradually depleted due to some series of payments from the mortgage holder to the homeowner which is why this type of mortgage is often used by people that are elderly homeowners who wish and desire to convert or turn all the equity in their homes into a stream of income that will serve as their retirement income payments.
What is the difference between a total and a subtotal?
Explanation:
SUB-TOTAL:
The total for a part of a list of numbers being summed.
TOTAL:
An amount obtained by addition of smaller amounts.
Answer:
subtotal is all the different parts being added together from different list.
total is the all items being added together plus tax.
Explanation: