Answer:
B. one firm has the exclusive ownership of a scarce resource.
Explanation:
Monopoly can be regarded as market structure whereby a single seller thrives, this is a structure whereby the seller sells a unique product in the market. As far as monopoly market is concerned, no competition is been encontered by the manufacturer , because he is the only one selling goods with no close substitute. As a result of this there is restrictions of the entry of other sellers in the market.
It should be noted that monopoly may exist because one firm has the exclusive ownership of a scarce resource.
Answer:
b) one firm has the exclusive ownership of a necessary resource
Explanation:
A monopoly is a situation where a single supplier of a commodity.
This gives the supplier the benefit of fixing a price that maximises profit for them. Consumers have no alternative so they pay the high price for the commodity.
There is no substitute good so there is no competition from other firms. Price is usually set at a high level so that the monopoly enjoys profit high above its marginal cost.
Monopolies exist because one firm has the exclusive ownership of a necessary resource not available to other firms.
Joan has the following assets and liabilities: Credit card balance $1,000 Cash $200 Government bonds $3,000 Checking $300 Car loan balance $10,000 Car $15,000 What is Joan's money demand?A) $200 B) $300 C) $500 D) $1,000 E) $11,000
Answer:
C. $500
Explanation:
Money demand can be defined as the part of an assets in which a person is ready to hold as cash . The money can however be used to purchase goods or services.
Money demand can be denoted as
= Cash balance + Checking account balance.
Given that;
Cash balance = $200
Checking account balance = $300
Money demand = $200 + $300
Money demand = $500
Therefore, Joan's money demand is $500.
ABC company had 8,000 in accounts receivable on Dec. 31, 2019. However, the company estimated that 2,000 of them would become bad debt. The company recorded the 2,000 as bad debt. What is the impact on the financial statement?
Answer:
Net income is reduced by 2,000 and the net value of receivables on balance sheet reduced by 2,000
Explanation:
Since it is given that there is $8,000 in account receivable out of which $2,000 would be estimated and recorded as a bad debt
So here the bad debt expense is recorded that means the expenses are increased that ultimately reduced the net income also at the same time the amount of receivable would also decreased by $2,000
Therefore the same is to be considered
Printers today have many features that include improved quality, photo printing capabilities, digital camera connectivity, built-in flash memory card readers, wireless connectivity, and faster speed. Suppose you are in the market for a new personal printer. Make a list of the most important features needed to meet your needs, and then research printers to identify the best printer for your needs. Be sure to consider both the price of the printer and the price of consumables (such as paper and ink/toner) in your evaluation process
Answer:
A printer is a device that accepts text and graphic output from a computer and transfers the information to paper, usually to standard size sheets of paper. Printers vary in size, sophistication, speed, and cost. In general, more expensive printers are used for higher-resolution color printing.
Printers today have many features that include improved quality, photo printing capabilities, digital camera connectivity, built-in flash memory card readers, wireless connectivity, and faster speed.
The Six important printer qualities are:
Color: It is important for users who need to print pages for presentations or maps, photos and other pages where color is part of the information. Color printers can also be set to print only in black-and-white. Color printers are more expensive to operate since they use two ink cartridges (one color and one black ink, toner) that need to be replaced after a certain number of pages. Users who don't have a specific need for color and who print a lot of pages will find a black-and-white printer cheaper to operate. Resolution: Printer resolution (the sharpness of text and images on paper) is usually measured in dots per inch (dpi). Most inexpensive printers provide sufficient resolution for most purposes at 600 dpi. Speed: If you do much printing, the speed of the printer becomes important. Inexpensive printers print only about 3 to 6 sheets per minute. Color printing is slower. More expensive printers are much faster.Memory: Most printers come with a small amount of memory (for example, one megabyte) that can be expanded by the user. Having more than the minimum amount of memory is helpful and faster when printing out pages with large images or tables with lines around them (which the printer treats as a large image). Wireless connectivity : Specialized printer nowadays have wireless connectivity which allows user to communicate with the machine without physical operation. Like one can just give command to the printer to print their projects using their mobile phone while sitting on the couch. This feature might add extra bucks to the bill but its worth it. Printer languages The commands from the computer to the printer to tell the printer how to format the document being printed. These commands manage font size, graphics, compression of data sent to the printer, color, etc. The two most popular printer languages are Postscript and Printer Control Language.Conclusively the best printer will be the one which will provide pleasant color contrast, good resolution, enough memory, wireless connectivity and have better language settings.
Bravo's complete assets and liabilities are Accounts Receivable $800, Equipment $10,000, Accounts Payable $4,200, Prepaid Rent $2,000, Supplies $400, Bank Loan $1,600, and Tools $300. Bravo's total assets are:_____.a. $11,100.b. $13,500.c. $11,500.d. $13,100.e. none of these.
Answer:
b $13,500
Explanation:
Assets are items that are used by a business organization for positive economic value .
Given that;
Accounts receivable = $800
Equipment = $10,000
Accounts payable = $4,200
Prepaid rent = $2,000
Supplies = $400
Bank loan = $1,600
Tools = $300
Total assets = Accounts receivable + Equipment + Prepaid rent + Supplies + Tools
Total assets = $800 + $10,000 + $2,000 + $400 + $300
Total assets = $13,500
Therefore, Bravo's total assets is $13,500.
A portfolio has 70 shares of Stock A that sell for $30 per share and 125 shares of Stock B that sell for $17 per share. (a) What is the portfolio weight of Stock A?(b) What is the portfolio weight of Stock B?
Answer:
Portfolio weight of Stock A=49.70%
Portfolio weight of Stock A=50.29%
Explanation:
Calculation for the portfolio weight of Stock A and Stock B
First step is to calculate the total amount invested in both portfolio weight of Stock A and Stock B
Stock A and Stock B Total amount invested=
(A 70 shares*$30 per share)+ (B 125 shares*$17 per share)
Stock A and Stock B Total amount invested=$2,100+$2,125
Stock A and Stock B Total amount invested=$4,225
Now let calculate the PORTFOLIO WEIGHT OF STOCK A
Using this formula
Portfolio weight of Stock A=Stock A/Stock A and Stock B Total amount invested
Let plug in the formula
Portfolio weight of Stock A=(70 shares*$30 per share)/$4,225
Portfolio weight of Stock A=$2,100/$4,225
Portfolio weight of Stock A=0.4970*100
Portfolio weight of Stock A=49.70%
Therefore the Portfolio weight of Stock A
will be 49.70%
Calculation for PORTFOLIO WEIGHT OF STOCK B
Using this formula
Portfolio weight of Stock B=Stock B/Stock A and Stock B Total amount invested
Let plug in the formula
Portfolio weight of Stock B=(125 shares*$17 per share)/$4,225
Portfolio weight of Stock B=$2,125/$4,225
Portfolio weight of Stock B=0.5029*100
Portfolio weight of Stock B=50.29%
Therefore the Portfolio weight of Stock will be 50.29%
A company issued.. A company issued 10-year, 6.00% bonds with a face value of $100,000. The company received $97,767 for the bonds. Using the straight-line method of amortization, the amount of interest expense for the first interest period is:________.a) $2.233.00 b) $5,776.70 c) $6,000.00 d) $6,223.30
Answer:
d) $6,223.30
Explanation:
Interest payable in cash = 100000*6% = $6000
Amortization of bond discount (Straight line) = Discount in issue of bond / number of years
Amortization of bond discount = (100000 - 97,767) / 10
Amortization of bond discount = 2233 / 10
Amortization of bond discount = 223.3
Amount of interest Expense = 6000 + 223.3
Amount of interest Expense = $6,223.30
Suppose an increase in the demand for dollars has caused an appreciation of the dollar. According to the purchasing power parity theorem, the value of the dollar in the future will:
Answer:
Appreciate more
Explanation:
Suppose an increase in the demand for dollars has caused an appreciation of the dollar. According to the purchasing power parity theorem, the value of the dollar in the future will appreciate more. This is because the shift in demand and supply will cause an increase in the value of the dollar. Purchasing power parity (PPP) is a theory which states that exchange rates between currencies are in equilibrium when their purchasing power is the same in each of the two countries.
I purchased my home for $297,000 in 2015. Today it is worth approximately $520,000. What has my compounded annual rate of return been on this investment over the five years that I have owned my home?
a. 68.35%
b. 13.67%
c. 10.98%
d. 54.9%
Answer:
A because Brainly is here for kids to cheat on.
Explanation:
Match the jobs with the career clusters
FOR PLATO EXPLORING CAREER OPTIONS POST TEST!
Health Science
Hospitality and Tourism
Human Services
List of Careers:
- Radiologist
-Sociologist
-Concierge
-Nurse Practitioner
-Meeting Planner
-Adult Care Counselor
?
Answer:
Health Science - Radiologist, Nurse Practitioner
Hospitality and Tourism - Concierge, Meeting Planner
Human Services - Sociologist, Adult Care Counselor
There are different career: Health Science: Nurse Practitioner, radiologist. Hospitality and Tourism: meeting planner, concierge. Human Services: adult care counselor and sociologist.
Various occupations connected to healthcare and medicine are included in the health science career cluster. Radiologist and Nurse Practitioner are two professions that fall within this cluster.
The hospitality and tourism career cluster covers a variety of occupations that are connected to the management, marketing, and operation of eateries, accommodation, attractions, leisure activities, and travel-related services.
The human services career cluster encompasses a variety of occupations dedicated to helping people and communities.
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100 points
Think of two methods used to improve productivity in business. Discuss your reasons for choosing these methods.
Answer:
Improve workplace conditions
Explanation:
environment that’s too hot or too cold distracts from concentration, as employees will spend more time walking around to get their coats or an electric fan. Ensure both heating and air-conditioning systems are in working order for when the relevant season comes around
Answer:
Improve workplace conditions
Explanation:
In a single period system, the target ________ is the balancing point between shortage costs and excess costs.
Answer: service level
Explanation:
A single period inventory model typically occurs to the organizations that order one-time items. In this case, such organizations can only get the right quantity when they order once in order to prevent loss.
In a single period system, the target service level is the balancing point between shortage costs and excess costs.
Identify an activity that may not affect independence of mind but is likely to affect independence in appearance.
a. Payment of high audit fees dependent upon profitable financials.
b. Engagement of the CPA and payment of audit fees by a third party.
c. Dependence upon a client for a large percentage of audit fees.
d. Ownership of an immaterial indirect financial interest in the audited client.
e. Performance of valuation services and actuarial services for the same company.
Answer:
c. Dependence upon a client for a large percentage of audit fees.
Explanation:
The independence in appearance means that the auditor integrity, objectivity is compromised and the people have the faith in the auditor and it is based on the other interpretation
While on the other hand, the independent of mind means the auditor is fully independent and unbiased for taking the decisions
Therefore according to the given options, the option c is correct as the appearance of independent is impacted due to the more percentage in the audit fees
A college education fund is to be accumulated by twenty level semi-annual deposits, the first due on Jan. 1, 2011. The fund is to provide sixteen quarterly withdrawals of $1000 each, the first due on Oct 1, 2020. The nominal annual rate of interest is 10% convertible semi-annually. What is the amount of each deposit?
Answer:
$395.74
Explanation:
the college fund requires 20 equal semiannual payments starting January 1, 2011 and the last one should be made on July 1, 2020.
first we must determine the effective rate of the fund:
effective rate = (1 + 10%/2)² - 1 = 10.25%
now we must determine the quarterly rate:
quarterly rate = (1 + r)¹/⁴ - 1 = 2.47%
the present value of the annuity:
PV = distribution x annuity factor
distribution = $1,000PV annuity factor, 2.47%, 16 periods = 13.08553PV = $1,000 x 13.08553 = $13,085.53
that means that by July 1, 2020, you need to have $13,085.53 in your college fund
FV of an annuity = contribution x annuity factor
FV = $13,085.53FV annuity factor, 5%, 20 periods = 33.066contribution = FV / annuity factor = $13,085.53 / 33.066 = $395.74
When operating in a constrained environment, which products should be produced? a. products with the highest contribution margin per unit b. products with the highest contribution margin per unit of the constrained process c. products with the highest selling price d. products with the lowest allocated joint cost
Answer: B. products with the highest contribution margin per unit of the constrained process.
Explanation:
When operating in a constrained environment, the products that should be produced are the products with the highest contribution margin per unit of the constrained process.
This is essential for the company to maximize its total contribution margin. This in turn will help the company in realizing revenue and also maximizing profit.
Which of the following best explains how the rise of machinery created an unfriendly relationship between industrialists and their employees?
A. The industrialist earned his income from the work of others.
B. There was a lack of unions.
C. The employees were underpaid.
Answer:
C
Explanation:
In as much as these are the only options given, then there has to be an answer there. Even though I fancy there being another answer.
But I'd say, the closest to the reason from the aforelisted is that the employees were underpaid. Since the advent of machineries, truth is that there wasn't going to be need for employees. This is because machines tend to have a much better output, better efficiency and won't need to be paid monthly in wages.
Since there isn't need for employees again, the industrialist tend to underpay the employees because they don't see their useful in the first instance
The rise of the use of machine is on the increase. The best explanation as to how the rise of machinery created an unfriendly relationship between industrialists and their employees is the employees were underpaid.
The industrialists did treat their workers bad. They make sure to keep wages as low as ever. Their attitude towards their employee was like if employee did not like the pay, the long hours and other working conditions he could quit and go to other places.
They were super-rich, living in great homes, living life lavishly abut their employees were paid little sum as if they do not have any choice.
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Van Hookie, Inc. issued bonds with a maturity amount of $200,000 and a maturity ten years from the date of issue. If the bonds were issued at a premium, this indicates that:________
a. the effective yield or market rate of interest exceeded the stated (nominal) rate.
b. the stated rate of interest exceeded the market rate.
c. the market and stated rates coincided.
d. no necessary relationship exists between the two rates
Answer:
c
Explanation:
An increase in a firm's tax rate will__________ if the firm has debt capital in its capital structure:
a. increase both the cost of preferred stock and debt.
b. decrease the cost of preferred stock.
c. increase the firm's WACC.
d. decrease the firm's WACC.
Answer:
d. decrease the firm's WACC.
Explanation:
As per WACC formula
WACC = ( Weight of Common Equity x Cost of Common Equity ) + ( Weight of Common Debt x Cost of Common Debt x ( 1 - Tax rate ) ) + ( Weight of Preferred Equity x Cost of Preferred Equity )
By assuming the values to prove the answer
Weights
Common equity = 55%
Preferred Equity = 15%
Debt = 30%
Costs
Common equity = 15%
Preferred Equity = 8%
Debt = 12%
Tax rate is 15%
Placing values in the formula
WACC = ( 55% x 15% ) + ( 30% x 12% x ( 1 - 15% ) ) + ( 15% x 8% )
WACC = 8.25% + 3.06% + 1.2% = 12.51%
Keeping others values constant, Now increase the Tax rate to 25% and placing vlaues in the formula
WACC = ( 55% x 15% ) + ( 30% x 12% x ( 1 - 25% ) ) + ( 15% x 8% )
WACC = 8.25% + 2.7 + 1.2% = 12.15%
Hence the WACC is decreased from 12.51% to 12.15% when the tax rate is increased from 15% to 25% keeping other values constant.
Terri Ronsin had recently been transferred to the Home Security Systems Division of National Home Products. -Shortly after taking over her new position as divisional controller, she was asked to develop the division's predetermined overhead rate for the upcoming year. The accuracy of the rate is important because it is used throughout the year and any overapplied or under- applied overhead is closed out to Cost of Goods Sold at the end of the year. National Home
Products uses direct labor-hours in all of its divisions as the allocation base for manufacturing overhead. To compute the predetermined overhead rate, Terri divided her estimate of the total manufacturing overhead for the coming year by the production manager's estimate of the total direct labor-hours for the coming year. She took her computations to the division's general manager for approval but was quite surprised when he suggested a modification in the base. Her conversation with the general manager of the Home Security Systems Division, Harry Irving, went like this:
Ronsin: Here are my calculations-for next year's predetermined overhead rate. If you approve, we can enter the rate into the computer on January 1 and be up and running in the job-order costing system right away this year. Irving: Thanks for coming up with the calculations so quickly, and they look just fine. There is, however, one slight modification I would like to see. Your estimate of the total direct labor- hours for the year is 440,000 hours. How about cutting that to about 420,000
hours?
Ronsin: I don't know if I can do that. The production manager says she will need about 440,000 direct labor-hours to meet the sales projections for the year. Besides, there are going to be over 430,000 direct labor-hours during the current year and sales are projected to be higher next year.
Irving: Teri, I know all of that. I would still like to reduce the, direct labor-hours in the base to something like 420,000 hours. You probably don't know that I had an agreement with your predecessor as divisional controller to shave 5% or so off the estimated direct labor-hours every year. That way, we kept a reserve that usually resulted in a big boost to net operating income at the end of the fiscal year in December. We called it our Christmas bonus. Corporate headquarters always
seemed as pleased as punch that we could pull off such a miracle at the end of the year. This system has worked well for many years, and I don't want to change it now.
Required:
a. Explain how shaving 5% off the estimated direct labor-hours in the allocation base for the predetermined overhead rate usually results in a big boost in net operating income at the end of the year.
b. Should Terri Ronsin go along with the general manager's request to reduce the direct labor- hours in the predetermined overhead rate computation to 420,000 direct labor-hours?
Answer:
Home Security Systems Division of National Home Products
Predetermined Overhead Rate for the division:
a. Cutting off 5% off the estimated direct labor-hours every year implies that the predetermined overhead rate will be higher than what it is supposed to be. Thus, as a higher rate is applied to overheads, the division will report over-applied overhead costs, which is used to reduce the Cost of Goods sold at the end of the year, and thus boost the net operating income.
b. Terri Ronsin should not go along with the general manager's request to reduce the direct labor-hours in the predetermined overhead rate computation to 420,000 as it is unethical with self-interest bias.
Explanation:
a) Data and Calculations:
Estimated direct labor-hours = 440,000
5% shaving = 22,000 (440,000 * 5%)
General manager's requested direct labor-hours = 420,000
Difference in estimated and requested = 20,000 direct labor-hours.
b) The predetermined overhead rate = Estimated total manufacturing overhead divided by the estimated total direct-labor-hours
Miller Nwagi will not ride in elevators because he perceives them to be confining boxes that could fall. He refused to visit a store, which was selling his favorite brand of pipe tobacco, because the store could only be reached with an elevator. This would be an example of how _____ influences determine consumer buying decisions
Answer:
Psychological influence
Explanation:
During consumption people sometimes experience Internal influences that are basically stemmed from their own lifestyle and also their way of thinking. These influences arise out of their personal thoughts, their self-concepts, their feelings and also attitudes, lifestyles, motivation and memory. We refer to these internal influences as psychological influences.
Psychological influences is why miller would not ride in elevators due to the perception he has formed internally about elevators. And hence the reason he wouldn't use one.
Pablo owns a record store. His total costs are $1.2 million per year, his variable costs are $750,000, and his fixed costs are $450,000 per year. Last year, Pablo sold 1,200 records. If Pablo sells 1,250 records this year (50 more than last year) and his average total cost increases to $1.28 million, we know that the: ________
a. average variable cost of selling records has decreased.
b. marginal cost of those 50 records is $80,000.
c. average fixed cost of selling records is unchanged.
d. marginal cost of those 50 records is $1.28 million.
e. average total cost of selling 1.250 records is $1,000.
Answer:
b. marginal cost of those 50 records is $80,000.
Explanation:
The computation is shown below:
The average cost of selling 1,200 records is
= $1,200,000 ÷ 1,200
= $1,000
Now
The average total cost of selling 1,250 records is
= $1,280,000 ÷ 1,250
= $1,024
Now for the extra 50 records, the marginal cost is
= $1,280,000 - $1,200,000
= $80,000
Hence, the correct option is b.
Economies of scale occur when a firm's long-run average total cost curve is ___________________. a. upward sloping.b. vertical.c. downward sloping.d. horizontal.
Answer:
The correct answer is the option C: Downward sloping.
Explanation:
To begin with, the concept known as "Economies of Scale" is a vary famously term in the microeconomics theory due to the fact that it refers to the particular situation that a company achieves when their costs are at the lowest possible point in the long run becuase of the great volumen in production that the organization is starting to handle so that means that the more they start to produce the less the amount that the company will have to spend in the costs. Therefore that the curve in the graphic will be downward sloping due to the decrease of the prices in the costs implicating the amount that the company is handling.
Agency employees interact with Taco Bell employees across job types because they need knowledge about the products and plans, increasing their:________
a. boundary spanning.
b. hierarchical sensitivity.
c. decision informity.
d. staff validity.
e. task validity.
Answer:
c. decision informity.
Explanation:
Since in the question it is mentioned that there is a interaction of Agency employees with the employees of Taco bell for different types of job as they need the knowledge regarding the product and plans that increased the decision informity
As if you have great knowledge and information so you are able to take the right decision i.e. ultimately good for a company
Therefore the option c is correct
Honolulu, Inc. sells its product for $22 per unit. Variable costs are $8 per unit, and fixed costs are $6,000 per month. If the firm expects to sell 2,000 units next month, what is its margin of safety in dollars of sales revenue?A $34,562.B. $12.571.C. $1.571.D 56,000.
Answer:
the correct option is A. $34,562
Explanation:
The computation of the margin of safety in sales dollars is shown below:
As we know that
Margin of safety = Actual sales - break even sales
where,
Actual sales units is 2,000
And, the break even sales is
= Fixed cost ÷ contribution margin per unit
= $6,000 ÷ ($22 - $8)
= $6,000 ÷ $14
= 429
Now margin of safety in dollars is
= (2,000 - 429) × $22
= $34,562
Hence, the correct option is A. $34,562
*economics*
How do changes in the discount rate affect economic behavior?
A. Raising the discount rate makes individuals less likely to borrow
money
B. Lowering the discount rate encourages banks to keep more money
in reserve.
C. Raising the discount rate prevents investors from buying treasury
securities
D. Lowering the discount rate makes businesses less likely to hire
new employees
The changes in the discount rate affect economic behavior is Raising the discount rate makes individuals less likely to borrow money.
A reduction in the discount rate makes it cheaper for commercial banks to borrow money, which can an increase in available credit and lending work throughout the economy.The discount rate is simply known as the interest rate charged to commercial banks and other financial institutions for short-term loans.
The interest rate used in discounted cash flow (DCF) analysis to determine the present value of future cash flows.Conclusively, The discount rate serves as an main point of the condition of credit in an economy.
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Answer: A. Raising the discount rate makes individuals less likely to borrow money
If people's trust in the banking system is reduced due to a surge in bank failures, the money expansion resulting from a new deposit will:____________
a) increase
b) decline
c) not be affected
d) none of the above
Answer:
b) decline
Explanation:
If people's trust in the banking system is reduced due to a surge in bank failures, the money expansion resulting from a new deposit will decline. This happens because people lost trust and hastily withdrawn their money deposited with the bank.
Using the gross method of recording sales, what sales price should be recorded when an item with an $1,100 list price is sold with a 15% trade discount? The sales invoice includes the terms 2/10, n/30?
Answer:
Use percentage value new value and old value
Many businesses borrow money during periods of increased business activity to finance inventory and accounts receivable. For example, Mattel builds up its inventory to meet the needs of retailers selling to Christmas shoppers. A large portion of Mattel's sales are on credit. As a result, Mattel often collects cash from its sales several months after Christmas. Assume on November 1, 2018, Mattel borrowed $6 million cash from Metropolitan Bank and signed a promissory note that matures in six months. The interest rate was 8.0 percent payable at maturity. The accounting period ends December 31.
Required:
1, 2 & 3. Prepare the required journal entries to record the note on November 1, 2018, interest on the maturity date, April 30, 2019, assuming that interest has not been recorded since December 31, 2018
Answer:
1. Nov 1, 2018
Cash 6,000,000
Notes Payable (short-term) 6,000,000
2. Dec 31, 2018
Interest Expense 80,000
Interest Payable 80,000
3. Apr 30, 2019
Notes payable (short-term) 6,000,000
Interest Payable 80,000
Interest Expense 160,000
Cash 6,240,000
Explanation:
1. $6,000,000 cash Mattel acquired from Metropolitan Bank for signing a short-term note (matures in six months).
2. 6,000,000 x .08 x 2/12 = 80,000
2 months (Nov and Dec) time that Mattel accrued $80,000 worth of interest.
3. The note was signed for 6,000,000.
Interest payable is the amount that was accrued from the last year, but hasn't been paid yet for $80,000.
Interest expense is the interest amount that is from the current year and is being repaid for $160,000.
Cash is the total (the principal payment and the interest) that Mattel is paying the bank back for borrowing for $6,240,000.
The journal entries of the given case are given in the image below.
What is journal entry?Journal entry is the systematic record of the accounting transactions that is commenced under the usual business in cash. It is the financial transactions.
It is also referred to as the primary accounting procedure, means the financial statement is prepared on the basis of journal entry.
Computation of the amount of journal entry:
On November 2018, the amount of $6,000,000 cash Mattel grown from Metropolitan Bank for signing a short-term note that matures in 6 months.
On December 31, 2018, Mattel accrued $80,000 worth of interest, means :
[tex]= \$6,000,000 \times .08 \times \dfrac{2}{12} \\= \$80,000[/tex]
Then the amount of Cash is the total, means the principal payment and the interest is that Mattel is paying the bank back for borrowing for $6,240,000 ( [tex]\$6,000,000 + \$80,000 + \$160,000[/tex]).
Therefore, the journal entries of the above transactions are given in the image below.
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4. When the actual price of a good is above its equilibrium market price, competition
among
A. buyers will force the actual price upward.
B. sellers will force the actual price upward.
C. sellers will force the actual price downward.
D. buyers will force the actual price downward.
E none of the above.
Answer:
C.
Explanation:
Because naturally within a market the equilibrium price is trying to be reached, (besides price ceilings and floors imposed by the government), Sellers will naturally push the price downwards because they must compete with each other to make a living. Thus answer C. is correct.
Donnegan Company reported operating expenses of $325,000 for 2020. The following data were extracted from the company’s financial records: 12/31/19 12/31/20 Prepaid Expenses $ 60,000 $69,000 Accrued Expenses 210,000 255,000 Accounts Payable 300,000 350,000 On a statement of cash flows for 2020, using the direct method, cash payments for operating expenses should be:___________.
Answer:
cash payments for operating expenses should be $329,000
Explanation:
Cash Payments for operating expenses is included in the Cash Flow from Operating Activity Section of the Statement of Cash Flows when the Direct Method of preparing this statement is selected.
This is calculated as follows :
Cash Payments for operating expenses
Operating expenses $325,000
Adjustment of changes in Working Capital
Increase in Prepaid Expenses ($69,000 - $ 60,000) $9,000
Increase in Accrued Expenses ($255,000 - $210,000) $45,000
Increase in Accounts Payable ($350,000 - $300,000) ($50,000)
Cash payments for operating expenses $329,000
If the European subsidiary of a U.S. firm has net exposed assets of 750,000 Euros, and the euro drops in value from $1.30/euro to $1.20/ Euro the U.S. firm has a translation:__________
a. gain of $75,000
b. loss of $75,000
c. gain of $65,000
d. loss of 546,923