Answer:
B. $2,690
Explanation:
Calculation for the amount of taxes that Chuck can deduct on his itemized deductions
State income tax $1,900
Add Real estate tax $ 790
Itemized Deduction $2,690
($1,900+$ 790)
Therefore the amount of taxes that Chuck can deduct on his itemized deductions is $2,690
Which of the following is not a characteristic of a leader
Answer:
reserved nature
Answer:
A few traits typically considered highly important for leadership are optimism, self-confidence, honesty and integrity, and drive.
Explanation:
is it correct?
Entrepreneurs often produce innovations related to?:
A. multiple patents
B. new ways of doing business
C. competitive intelligence
D. market identification
(Small Business Management college course)
Entrepreneurs often produce innovations related to market identification. Thus, option (d) is correct.
Who is Entrepreneurs?
The term “entrepreneur” refers to the person who launches a new business at their own risk and profit basis. The starting up of a new business with a new idea and logic is called entrepreneurship. The entrepreneur's main motive is to set up a business to generate employment.
The entrepreneur is work new idea as called startup company. The entrepreneurs as the startup, the business as the innovations of the consumer problems. The entrepreneur as the search, the market identification of the consumer demand and needs. The entrepreneur as also search the competitors of the market.
As a result, the entrepreneurs as they produced the identification of the market. Therefore, option (d) is correct.
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Which of the following is a skill?
A. Sitting
B. Hearing
C. Dancing
O D. Talking
Answer:
Dancing
Explanation:
Most people are born with the ability to sit, hear, and talk. Dancing is a skill u have to learn.
Testbank Multiple Choice Question 122 On January 1, 2012, Bramble Corp. purchased for $768000, equipment having a useful life of ten years and an estimated salvage value of $36000. Bramble has recorded monthly depreciation of the equipment on the straight-line method. On December 31, 2020, the equipment was sold for $137500. As a result of this sale, Bramble should recognize a gain of
Answer: $28,300
Explanation:
The gain that Bramble will recognize will goes thus:
First and foremost, we have to calculate the accumulated depreciation on the equipment and this will be:
= (768,000 - 36,000)/10 x 9
= 658,800
After that, we would find the value of the net Bmbook value on Dec 31, 2020 and this will be:
= 768,000 - 658,800
= 109,200
The gain will then be:
= Sales value - Net book value
= 137,500 - 109,200
= 28,300
Stallion Corporation sold $100,000 par value, 10-year first mortgage bonds to Pony Corporation on January 1, 20X5. The bonds, which bear a nominal interest rate of 12 percent, pay interest semiannually on January 1 and July 1. The entry to record interest income by Pony Corporation on December 31, 20X7, was as follows:
Note: Assume using straight-line amortization of bond discount or premium.
General Journal Debit Credit
Interest Receivable 6,000
Interest Income 5,750
Investment in Stallion Corporation Bonds 250
Pony Corporation owns 65 percent of the voting stock of Stallion Corporation, and consolidated statements are prepared on December 31, 20X7.
Required:
a. What was the original purchase price of the bonds to Pony Corporation?
b. What is the balance in Pony’s bond investment account on December 31, 20X7?
c. Prepare the worksheet consolidation entry or entries needed to remove the effects of the intercompany ownership of bonds in preparing consolidated financial statements for 20X7. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Solution :
a).
Amortization of the bonds premium semi annually = $ 250
Amortization of the bonds premium annually = 250 x 2
= $ 500
Bond premium = 500 x 10
= $ 5000
Par value bond = $100,000
Premium on the bonds = $ 6000
∴ Original price of the bonds = $ 106,000
b).
Original purchase price = $ 106,000
Semi annually periods from 1 Jan 20X5 to 31 Dec 20X7 = 3 yrs x 2 = 6 periods.
The premium amortization till 31st Dec, 20X7 = $ 250 x 6 = $1500
The balance of the bond investment account = $ 106,000 - $1500
= $ 104,500
c).
Event 1
Accounts Debit Credit
Bonds payable $100,000
Bonds premium (6000-1500) $4500
Interest income (5750 x 2) $ 11500
Investment in the Stallion Bonds $104,500
Interest expenses $ 11500
Event 2
Accounts Debit Credit
Interest payable $ 6000
Interest receivable $6000
Rousey, Inc., had a cash flow to creditors of $16,785 and a cash flow to stockholders of $7,307 over the past year. The company also had net fixed assets of $49,605 at the beginning of the year and $57,010 at the end of the year. Additionally, the company had a depreciation expense of $12,156 and an operating cash flow of $50,868. What was the change in net working capital during the year
Answer:
$7,215
Explanation:
The change in net working capital can be determined using the formula cash flow from assets provided below:
Cash flow from assets=operating cash flows-net capital spending-change in working capital
Cash flow from assets=cash flow to creditors+cash flow to shareholders
Cash flow from assets=$16,785+$7,307=$24,092
operating cash flows=$50,868
net capital spending=$57,010-$49,605+ $12,156=$19,561
$24,092=$50,868-$19,561-change in working capital
change in working capital=$50,868-$19,561-$24,092
change in working capital=$7,215
One of the assumptions underlying the production possibilities curve (or
production possibilities frontier) for any given economy is that
A. all societies will choose to operate at a point inside the curve
B. there is full employment of resources when the economy is on the
curve
C. goods can be produced outside the curve.
D. there is an unlimited supply of resources.
E the state of technology changes
Resources are fully utilized when the economy is on the production possibility curve. Therefore, option B is correct.
What is the Production possibility curve?The production possibilities curve displays different production volume combinations for two items utilizing fixed resources. The idea is that if the production of one commodity rises, the output of the other will fall.
The essential assumptions of the production possibility curve are: Resources are provided and don't change. The technology employed in the manufacturing process doesn't change. The resources are effectively and completely used.
The Production possibility curve is useful for demonstrating the ideas of scarcity, opportunity cost, efficiency, and economic development and contraction.
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What is the expected return on a portfolio that will decline in value by 10% in a recession, will increase by 15% in normal times, and will increase by 20% during boom times? Each scenario has an equal likelihood of occurrence.
Answer:
8.34%
Explanation:
expected return of the stock = ∑(likeliness to occur of every economic state x expected return) = (1/3 x 20%) + (1/3 x 15%) - (1/3 x 10%) = 6.67% + 5% - 3.33% = 8.34%
The value of the expected return is equal to the sum of the individual returns times the percentage of likeliness to occur.
Effective project teams have a results orientation; each person has a strong commitment to accomplishing the project objective . There is a high degree of
Answer:
Effective Project leadership
Explanation:
When working on a project together, everyone has to be on the same page regarding the end goals and the means to reach the end goals. A team can only be called effective if every person is result oriented. If everyone in the team has the same level of commitment towards completing their project and thus accomplishing the objective, it is because of a high degree of Effective project leadership. An effective leader has the quality to work with different type of people and also getting the effective results.
What are causes and effects of increasing marginal returns?
Answer:
the extra output or change in total product caused by adding one more unit of variable input. Increasing marginal returns: as long as each new worker contributes more to total output than the worker before, total output rises at an increasing rate.
Explanation:
Your SWOT analysis reveals no obvious options for growth with your current product lines. So you decide to use some retained earnings the firm has been saving and launch new product lines. After careful analysis you decide to launch two new product lines, one centered on plastic bags (such as trash bags and sandwich bags), the other a line of automobile-care products (such as soaps and waxes). Which corporate-level strategy are you pursuing
Answer:
"Unrelated diversification" is the correct solution.
Explanation:
Unrelated diversification would be a kind of diversification whenever a company introduces additional as well as completely irrelevant product range as well as enters market opportunities. This somehow happens whenever the company starts trying to consolidate into firms that support the concept and among the most commercial reward for something like an institution.Which of the following is an example of physical capital in an economy?
A. A cargo plane
B. A pilot
C. A traveler
D. A mechanic
Answer:
A. A cargo plane
Explanation:
In Economics, factors of production are used for the manufacturing of goods and services in order to meet the unending needs or requirements of the consumers at a specific price and period of time. The four (4) factors of production are;
I. Land.
II. Labor.
III. Entrepreneurship.
IV. Capital.
Physical capital can be defined as any tangible, artificial goods which are typically used for the production of finished goods or services. Therefore, it comprises of building, computer, machinery or equipment, office utilities, cash, vehicles, etc.
Hence, a cargo plane is an example of physical capital in an economy because it is a tangible, man-made equipment used for the transportation of people or goods from one location to another.
Refer to Women's Athletic Wear. One of the biggest differences between men and women consumers is that men tend to stay loyal to a store. Women are much more ready to shop around--perhaps because they demand more from their products than men. Andrea wants to start jogging, but she has been told she needs to find well-fitting jogging underwear. Andrea is at the first stage of the: Group of answer choices product positioning consumer decision-making process selective perception product differentiation market segment
Answer:
consumer decision-making process
Explanation:
When buyers want to make a purchase there are many factors that come into play before he makes a choice on which product to buy.
The process by which a user identifies which product best meets his needs, gathers information on how to solve their needs, examines alternatives, make purchase, and gauge satisfaction from purchase are the processes of consumer decision-making process.
On the given scenario Andrea wants to start jogging, and she has been told she needs to find well-fitting jogging underwear.
This is the the stage of identifying consumer needs, the first stage of consumer decision-making process.
Supervisor: "If you increase your current quality score of 85% by 7%, you will have a
score of
Answer:
90.95% (if you need to round it up, then its 91%)
Explanation:
7% of 85% is 5.95%. You add that to the 85%, and you get 90.95%! :]
Hope this helped!! :]
_____ is the method of determining what a business will get in exchange for its products.
Command
Pricing
Supply
Market
Answer:
pricing
Explanation:
pricing is the amount you pay a buissness for their product.
Answer:
pricing
Explanation:
mainly bc the other person is right
A first saving account pays 5% compounded annually. A second saving account pays 5% compounded continuously. Which of the two investments is better in the long term?
Select the correct answer. Which part of a speech contains the speaker’s arguments, ideas, examples, and proof? A. the title of the speech B. the body of the speech C. the introduction of the speech D. the conclusion of the speech
Answer:
Its in the body o
Explanation:
Answer:
it is b
Explanation:
took the test and got 100%
A manager of Paris manufacturing which produces computer hard drives, is planning to lease a new automated inspection system. The manager believes the new system will be more accurate than the current manual inspection process. The firm has had problems with hard drive defects in the past and the automated system should help catch these defects before the drives are shipped to the final assembly manufacturer. Below are the relevant information:
Current manual inspection system:
annual fixed cost = $35,000
Inspection variable cost per unit = $15 per unit.
New automated inspection system:
Annual fixed cost = $165,000
Inspection variable cost per unit = $0.55 per unit
1- Suppose annual demand is 8000 units. Should the firm lease the new inspection system?
2- NEW-SPEC, a firm that specializes in providing manual inspection processes for other firms, approached Paris manufacturing and offered to inspect parts for $19 each with no fixed costs. It assured Paris manufacturing that the accuracy and quality of its manual inspections would equal that of the automated inspection system. Demand for the upcoming year is forecast to be 8000 units. Should the manufacturer accept the offer?
Answer:
Paris Manufacturing
1. Based on cost considerations, the new inspection system should not be leased.
2. Based on cost considerations, the manufacturer should accept the NEW-SPEC offer.
Explanation:
a) Data and Calculations:
Annual demand for computer hard drives = 8,000 units
Current manual inspection system:
annual fixed cost = $35,000
Inspection variable cost per unit = $15 per unit.
Total cost for manual inspection system:
Variable costs $120,000 (8,000 * $15)
Fixed costs 35,000
Total costs $155,000
New automated inspection system:
Annual fixed cost = $165,000
Inspection variable cost per unit = $0.55 per unit
Total cost for automated inspection system:
Variable costs $4,400 (8,000 * $0.55)
Fixed costs 165,000
Total costs $169,400
Total cost with NEW-SPEC:
Variable costs $152,000 (8,000 * $19)
b) The improved efficiency will surely outrun the cost of the new automated inspection system. Therefore, I recommend that Paris should go ahead with the new system, despite the costs. Accepting the offer from NEW-SPEC provides the best financial efficiency. However, in the long-run, purchasing the automated inspection system might prove to be the best decision.
What is cost opportunity in firm
Answer:nah
Explanation:
Compute the contribution margin ratio using the following data: sales, $4,800; total variable cost, $2,976.
Answer:
the contribution margin is $1,824
Explanation:
The computation of the contribution margin is shown below:
As we know that
Contribution margin is
= $Sales - variable cost
= $4,800 - $2,976
= $1,824
hence, the contribution margin is $1,824
The October transactions were as follows. Oct. 5 Received $1,490 in cash from customers for accounts receivable due. 10 Billed customers for services performed $5,090. 15 Paid employee salaries $1,380. 17 Performed $570 of services in exchange for cash. 20 Paid $1,990 to creditors for accounts payable due. 29 Paid a $260 cash dividend. 31 Paid utilities $340. Prepare a general ledger using T-accounts. Enter the opening balances in the ledger accounts as of October 1.
Answer:
there are no initial balances, but I can still record the journal entries that would go into the general ledger:
Oct. 5 Received $1,490 in cash from customers for accounts receivable due.
Dr Cash 1,490
Cr Accounts receivable 1,490
Oct. 10 Billed customers for services performed $5,090.
Dr Accounts receivable 5,090
Cr Service revenue 5,090
Oct. 15 Paid employee salaries $1,380.
Dr Salaries expense 1,380
Cr Cash 1,380
Oct. 17 Performed $570 of services in exchange for cash.
Dr Cash 570
Cr Service revenue 570
Oct. 20 Paid $1,990 to creditors for accounts payable due.
Dr Accounts payable 1,990
Cr Cash 1,990
Oct. 29 Paid a $260 cash dividend.
Dr Dividends
Cr Cash 260
Oct. 31 Paid utilities $340.
Dr Utilities 340
Cr Cash 340
The most important element of a business plan's financial plan is the cash budget, which shows the salary which the entrepreneur will earn. how much money is needed to start the business and keep it operating. how many units must be sold to recover start-up costs. the tangible assets owned by the firm. how many business units should be opened and the annual tax payment to be made.
Answer:
The correct answer is the second option: How much money is needed to start the business and keep it operating.
Explanation:
To begin with, when we talk about a cash budget that is refered to a financial plan we are talking about the paper that helps the manager to establish how much money will be needed and that it will also show the flow of it in every period select by the person, commonly every month. Moreover, a cash budger is the most important part of a financial plan due to the fact that it will help the entrepreuner to have and idea of how the money is expended and from where it comes from as well so in that way he will understand better the business and its operations.
In your own life, what is important to you to “preserve, protect and/or defend”?
Answer:Um protect or to defend.
Explanation:
Why can internet banks offer better interest rates and lower fees than tradition banks?
A.They value their customers more.
B.They have fewer expenses.
C.They make money in different ways.
Garcia Industries has sales of $167,500 and accounts receivable of $18,500, and it gives its customers 25 days to pay. The industry average DSO is 27 days, based on a 365-day year.If the company changes its credit and collection policy sufficiently to cause its DSO to fall to the industry average, and if it earns 8.0% on any cash freed-up by this change, how would that affect its net income, assuming other things are held constant
Answer:
c. $488.77
Explanation:
Incomplete question "Assume all sales to be on credit. Do not round your intermediate calculations. Hint: focus on the DSO to figure out how much freed-up cash the company will have. Freed-up cash will be invested at 8%. a. $386.13 b. $601.18 c. $488.77 d. $562.08 e. $537.64"
Accounts Receivable (Industry DSO) = Sales Value*Industry Average DSO/Total Days in the Year
Using the values provided in the question in the above formula, we get, Accounts Receivable (Industry DSO) = 167,500*27/365 = $12,390.41
Freed-Up Cash = Value of Accounts Receivable at Company's DSO - Value of Accounts Receivable for Industry Average = 18,500 - 12,390.41 = $6,109.59
Effect on Net Income = Freed-Up Cash*Rate of Return = 6,109.59*8% = $488.77.
The total cost (in dollars) of manufacturing x auto body frames is C(x)=60,000+400x. (A) Find the average cost per unit if 200 frames are produced. (B) Find the marginal average cost at a production level of 200 units. (C) Use the results from parts (A) and (B) to estimate the average cost per frame if 201 frames are produced.
Answer:
a) Average price per unit = 700
b) average marginal cost = -1.5 dollars/frame
c) For 201 frames are produced = $698.5
Explanation:
Given Data:
C(x) = 60000 + 400x
a) Average cost for 200 units:
Total Cost of 200 units will be:
C(200) = 60000 + 400(200)
C(200) = 140,000
Total Cost of 200 units = 140,000
Average price per unit = Total Cost / number of units
Average price per unit = 140,000/200
Average price per unit = 700
b) Marginal Average Cost:
We know that marginal cost = [tex]C^{'}[/tex](x)
And the average marginal cost = [tex]\frac{d}{dx}[/tex] [tex]\frac{C(x)}{x}[/tex]
So,
= the derivative of ([tex]\frac{60,000 + 400(x)}{x}[/tex])
= the derivative of ([tex]\frac{(60,000)}{x} + 400[/tex])
= [tex]\frac{-60,000}{x^{2} }[/tex] + 0
So,
average marginal cost = [tex]\frac{-60,000}{x^{2} }[/tex]
at x = 200 units
average marginal cost = [tex]\frac{-60,000}{200^{2} }[/tex]
average marginal cost = -1.5 dollars/frame
c) Average cost per frame if 201 frames are produced:
We already seen in the part b that, the average marginal cost is decreasing by 1.5 dollars /frame. So,
if 201 frames are produced the instead of 200 then the difference is of 1 frame and we discussed that average marginal cost of 1 frame is decreasing at 1.5 dollars per frame.
So,
As we know the average cost from part a = 700 dollars.
Therefore, for 201 item = 700 dollars -1.5 dollars
For 201 frames are produced = $698.5
On January 1, Boston Enterprises issues bonds that have a $1,650,000 par value, mature in 20 years, and pay 10% interest semiannually on June 30 and December 31. The bonds are sold at par. 1. How much interest will Boston pay (in cash) to the bondholders every six months
Answer:
$82,500
Explanation:
the journal entry to record the bond issuance
Dr Cash 1,650,000
Cr Bonds payable 1,650,000
bonds sold at par
Every 6 months it will pay = $1,650,000 x 10% x 1/2 = $82,500
journal entry to record first coupon payment
Dr Interest expense 82,500
Cr Cash 82,500
Explain in detail the difference between the United States government's budget deficit versus the national debt.
Answer:
The debt is the total the U.S. government owes—the sums it borrowed to cover last year's deficit and all the deficits in years past.
Explanation:
Which of the following statements is true of Islam?
Answer:
Muslims believe that Islam is the complete and universal version of a primordial faith that was revealed many times before through prophets, including Adam, Abraham, Moses, and Jesus. Muslims consider the Quran in Arabic to be the unaltered and final revelation of God.
Explanation:
I didn't get your answer?
The truthful statement about Islam is that it is a faith without a recognized hierarchy.
What is Islam?Islam is an Abrahamic monotheistic religion or sect that is primarily centered on the Quran, which Muslims believe to be the actual words of God (or Allah) as they were spoken to Muhammad, the major and last prophet of Islam.
It is the second-largest religion in the world after Christianity, with between 1 and 1.8 billion followers worldwide, or around one-fourth of the world's population.
Islam holds that God is a benevolent, all-knowing, and singular being who has guided mankind through a variety of prophets, revealed texts, and natural signs, with the Quran acting as the ultimate and all-encompassing revelation and Muhammad as the "Seal of the Prophets" (the last prophet of God).
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fatas Corporation uses the weighted-average method in its process costing system. The Assembly Department started the month with 8,000 units in its beginning work in process inventory that were 20% complete with respect to conversion costs. An additional 95,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department. During the month 102,000 units were completed in the Assembly Department and transferred to the next processing department. There were 1,000 units in the ending work in process inventory of the Assembly Department that were 20% complete with respect to conversion costs. What were the equivalent units for conversion costs in the Assembly Department for the month
Answer:
102,200 units
Explanation:
Equivalent units for conversion costs
Note that the weighted-average method in its process costing system is being used
Units Completed and transferred ( 102,000 x 100%) 102,000
Ending Work in Process (1,000 x 20%) 200
Equivalent Units of Production 102,200
Conclusion
The equivalent units for conversion costs in the Assembly Department for the month is 102,200.