Answer:
Quasi contract and unjust enrichment
Explanation:
The correct answer to the given question is Quasi contract and unjust enrichment.
Quasi contract is when no agreement is formed but a party is liable to the other.
Unjust enrichment is that a party benefits from the expense to the other party when there is no such agreement. which is unjust and the party who benefits is held liable.
The balance sheet for Monty Consulting reports the following information on July 1, 2022. Long-term liabilities Bonds payable $1,380,000 Less: Discount on bonds payable 55,200 $1,324,800 Monty decides to redeem these bonds at 102 after paying annual interest. Prepare the journal entry to record the redemption on July 1, 2022.
Answer:
Date Accounts & Explanation Debit Credit
July 1, Bonds payable $1,380,000
2022 Loss on bonds redemption $82,800
Discount on bonds payable $55,200
Cash A/C $1,407,600
[$1,380,000*102%]
(To record the redemption of bond)
Chou Co. has a net income of $57,000, assets at the beginning of the year are $264,000 and assets at the end of the year are $314,000. Compute its return on assets.
Answer:
18.15 %
Explanation:
Return on Assets = net income / total assets x 100
Note : we use the asset value as at balance sheet date (end of period)
therefore,
Return on Assets = $57,000 / $314,000 x 100
= 18.15 %
Which of the following statements regarding culture and government is true? Multiple Choice In the United States, there is a close working relationship between businesses and government. Worker welfare is more important than corporate profit in most U.S. companies. In Europe, bribery and similar approaches for making sales are acceptable. Plant closure laws, layoff regulations, and worker benefits tend to be much higher in the United States than in European countries. Variations in values and behaviors across cultures affect organizations as well as individuals.
Answer:
Variations in values and behaviors across cultures affect organizations as well as individuals.
Explanation:
Culture can be defined as the general way of life of a group of people living together in a particular location or society.
Basically, culture comprises of beliefs, values, behaviors, language, dressing, cuisine, music, symbols, arts, social habits, knowledge, customs, laws pertaining to a particular group of people living together in a society.
This ultimately implies that, culture are acquired and passed from one generation to another.
A cultural trait can be defined as the smallest characteristics of human activity (actions) that is mainly acquired socially and transmitted from one generation to another through various modes of communication. Thus, these unique behavioral informations or characteristics and beliefs acquired by people socially are transmitted from one individual or group of people to another.
Basically, cultural traits play a significant role in the way of life of a group of people in that it is a unique collection of various cultural elements that are closely related such as behaviors and beliefs.
As there are differences in the way and manner in which individuals behave due to their varying cultural background and landscape, this goes a long way to affect organizations.
Hence, the true statement regarding culture and government is that, variations in values and behaviors across cultures affect organizations as well as individuals.
Assume that the yen/dollar exchange rate quoted in London at 3:00 p.m. is ¥115 = $1. Rinaldo finds out that the rate quoted in New York at 10:00 a.m. (3:00 p.m. London time) is ¥135 = $1. Rinaldo decides to buy yen in New York and sell it in London. Rinaldo is engaging in
Answer: arbitrage
Explanation:
Based on the information given in the question, we can infer that Rinaldo is engaging in arbitrage.
This is an example of currency arbitrage as it involves Rinaldo buying and selling the currency pairs that's gotten from different brokers in order to be able to take advantage of mispriced rates.
The options for closing inventory is
A. 10.50
B. 10
C. 10.25
Total cost options are
A. 8,050
B. 8,000
C. 8,200
Answer:
i think A
Explanation:
I hope this helps:)))
Jasper pays a fair price for Rosa's five wooded acres in a valid contract. But, Rosa decides she does not want to give up the land after and will not leave. Jasper can file suit and ask for ______________________ to take the land per the contract. specific performance a recission punitive damages complete performance
Answer:
specific performance
Explanation:
A specific performance is defined as remedy issued by a court when a conflict in contact occurs.
This instructs a particular party to perform a specific task in a contract or complete execution of the contract.
In this instance where Jasper pays a fair price for Rosa's five wooded acres in a valid contract. But, Rosa decides she does not want to give up the land after and will not leave.
Jasper can seek a specific performance to compel Rosa to go through with the sale
What was the overall response to Cornett’s plan to put his city on a diet, both locally and nationwide? What were some things that occurred as a result of the coverage and his website.
Mayor Cornett's initiative was well received nationally and locally because he cared for the public health of citizens in an innovative way.
Who is Michael Cornett?Michael Cornett (1958) is an American politician who served as the mayor of Oklahoma City between 2005 and 2018.
During his tenure, he had an innovative and unconventional initiative that he called This City Is Going On A Diet with which he sought to establish guidelines for good nutrition and a healthy lifestyle to reduce obesity rates in the city.
In general, this initiative was well received by the inhabitants of the city who joined efforts to lose weight. Additionally, this had a positive impact at the national level since the president's wife extolled her positive work for the health of citizens.
In this program, he founded a help website for people who were interested in getting professional weight loss support. There they found healthy food options, tips and other pertinent information to help them lose weight.
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36. Regina Company purchased a Cash register on January 1 for $5,400. This register has a useful life of 10 years and a salvage value of $400. What would be the depreciation expense for the second-year of its useful life using the double-declining-balance method
Answer:
$864
Explanation:
Double-declining-balance charges a higher depreciation in early years of the asset and lower in the later years using the formula :
Depreciation expense = 2 x SLDP x BVSLDP
Where,
SLDP = 100 ÷ useful life
= 10 %
and
BVSLDP = Cost (1st year) and Book Value (any other year)
therefore,
Year 1
Depreciation expense = 2 x 10 % x $5,400
= $1,080
Year 2
Depreciation expense = 2 x 10 % x ($5,400 - $1,080)
= $864
thus
The depreciation expense for the second-year of its useful life using the double-declining-balance method is $864.
The OECD is concerned about transfer pricing practices because ________. a. transfer pricing can help maximize a company's worldwide tax liability b. companies use transfer prices to manipulate prices and, therefore, taxes c. transfer prices tend to be higher in industrial than developing countries d. governments use transfer prices to manipulate companies' investment strategies
Answer:
b. companies use transfer prices to manipulate prices and, therefore, taxes
Explanation:
Organisation for Economic Co-operation and Development was established on the 30th of September, 1961 and it comprises of 38 member countries. It is an intergovernmental organization that is saddled with the responsibility of stimulating economic growth and world trade among member countries.
The OECD is concerned about transfer pricing practices because companies use transfer prices to manipulate prices and, therefore, taxes
Filing Chapter 13 allows you to maintain a sound credit rating because
a. you stand free and clear of debt.
b. your possessions are used to pay your credit obligations.
C. you still fulfill your credit obligations.
d. none of the above.
Answer:
C. you still fulfill your credit obligations.
Explanation:
Under Chapter 13, your debts are reorganized but you still pay them back. Paying your debts later and after getting a court ordered deal is not the best possible scenario, but it is much better than not paying them back at all or simply liquidating assets and see what can be paid or not (Chapter 7).
Robert worked as a campus police officer at Cal Poly Pomona. As part of his union contract, Robert was required to submit to a drug test four times per year. He tested positive for crystal meth (an illegal drug) during one of his regularly-scheduled drug tests. According to the same union contract, a positive test for an illegal drug could result in automatic termination, so Robert was fired from his job. Robert sued Cal Poly Pomona for wrongful employment termination. What should be the result
Answer:
Cal Poly Pomona and Robert
Robert stands terminated according to the employment contract that he signed to.
Explanation:
Robert cannot cite wrongful termination because his termination was not in violation of any federal anti-discrimination laws or based on any breach of his contract with the union. Clearly, Robert was not fired on the basis of his race, gender, ethnic background, religion, or disability, but on the basis of testing positive for an illegal drug. Substance abuse, ordinarily, renders the affected officer unfit for his or her responsibilities.
The result of Robert suing Cal Poly Pomona for wrongful employment
termination will be a negative one and his employment will remain
terminated.
Robert signed an agreement before taking the offer to work as a campus
police officer. Part of the union contract states that a positive test for an
illegal drug will result in automatic termination. This was signed by Robert
which means he agreed to the terms and condition.
Suing Cal Poly Pomona won't yield any positive result because of him
signing the union contract thereby agreeing to that condition.
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Consumer mobility refers to the idea that consumers like to find the same products everywhere. An example of a company that sells products everywhere in the world because its customers are all over the world is:
Group of answer choices.
a. McDonald's Restaurants.
b. Intercontinental Hotels.
c. Fuji Film.
d. All of the above
e. None of the above
Answer:
d. All of the above
Explanation:
A product can be defined as any physical object or material that typically satisfy and meets the demands, needs or wants of customers. Some examples of a product are mobile phones, television, microphone, microwave oven, bread, pencil, freezer, beverages, soft drinks etc.
Consumer mobility can be defined as an idea or situation in which consumers of goods and services like to find the same products they have interest in everywhere i.e across the world.
In this context, some example of a company that sells its products everywhere in the world due to the fact that its customers are found all over the world are: McDonald's Restaurants, Intercontinental Hotels, Apple Inc., Microsoft Inc., and Fuji Film.
Matthew Martin, the sole stockholder of Innovation Consulting, started the business by investing $49,000 cash in exchange for common stock. Identify the general journal entry below that Innovation Consulting will make to record the transaction.
Answer:
Debit Cash $49,000
Credit Common Stock $ 49,000
Explanation:
Based on the information given in a situation where Mathew begin the business by investing the amount of $49,000 cash in exchange for common stock which means that the appropriate general journal entry that Innovation Consulting will make to record the transaction will be:
Debit Cash $49,000
Credit Common Stock $49,000
Bramble sells softball equipment. On November 14, they shipped $4300 worth of softball uniforms to Novak Middle School, terms 3/10, n/30. On November 21, they received an order from Douglas High School for $2500 worth of custom printed bats to be produced in December. On November 30, Novak Middle School returned $450 of defective merchandise. Bramble has received no payments from either school as of month end. What amount will be recognized as accounts receivable, net on the balance sheet as of November 30
Answer:
$3,850
Explanation:
Calculation to determine What amount will be recognized as accounts receivable, net on the balance sheet as of November 30
Using this formula
Accounts receivable=Goods shipped -Defective merchandise return
Let Plug in the formula
Accounts receivable=$4,300-$450
Accounts receivable=$3,850
Therefore What amount will be recognized as accounts receivable, net on the balance sheet as of November 30 is $3,850
The Tinslow Co. has 125,000 shares of stock outstanding at a market price of $93 a share. The company has just announced a 5-for-3 stock split. How many shares of stock will be outstanding after the split
Answer:
Total shares outstanding = 208,333 units
Explanation:
A stock split occurs where a company increases the the total unit of its existing shares by dividing them . It does this to achieve a cheaper nominal price of per unit of share without increasing the total nominal value
Total shares outstanding = 5/3× 125,000= 208,333.
Total shares outstanding = 208,333 units
Gaston Company is considering a capital budgeting project that would require a $2,400,000 investment in equipment with a useful life of five years and no salvage value. The company’s tax rate is 30% and its after-tax cost of capital is 13%. It uses the straight-line depreciation method for financial reporting and tax purposes. The project would provide net operating income each year for five years as follows:
Sales $3,400,000
Variable expenses 1,600,000
Contribution margin 1,800,000
Fixed expenses:
Advertising, salaries, and other fixed out-of-pocket costs $680,000
Depreciation 660,000
Total fixed expenses 1,340,000
Operating income $460,000
Required:
Compute the project's net present value.
Answer:
$1,053,890.40
Explanation:
Net operating income $460,000
Less: Tax at 30% $138,000
After tax income $322,000
Add: Depreciation $660,000
Net cash inflow $982,000
Year Cash inflow PVF(13%) PV of cash-flows
0 ($2,400,000) 1 ($2,400,000)
1-5 $982,000 3.5172 $3,453,890.40
Project's net present value $1,053,890.40
Allesandra would like to work in a school environment, and she knows that she would prefer a career in which she spends lots of work time walking around rather than sitting in an office.
Which education career would be best for Allesandra?
elementary school teacher
administrative support worker
instructional designer
high school principal
Answer:
Elementary school teacher that’s the answer
Explanation:
With regard to a limited partner's capital contribution to the limited partnership: A. the limited partner can only contribute cash. B. a promise by a limited partner to contribute to the limited partnership is not enforceable unless it is in a signed writing. C. if the partner fails to make a promised capital contribution, the limited partnership has no power to hold the partner liable. D. All of these.
Answer:
B. a promise by a limited partner to contribute to the limited partnership is not enforceable unless it is in a signed writing.
Explanation:
A partnership can be defined as a type of business ownership in which two or more individuals come together to start up a business and share the profits made together.
A limited liability company can be defined as a private company in which the owners are legally responsible for the company's debts but only to the amount of capital he or she has invested. The LLC can be referred to as a hybrid business entity that combines the limited liability-shield of a corporation with the pass-through taxation of a sole-proprietorship or partnership business.
In the United States of America, the owner of a LLC is not legally liable for the company's liability or debts.
Limited partnerships have two classes of partners. These two (2) classes are;
1. General partner: it is a type of partnership in which two or more people come together and have an agreement to do business by sharing profits, assets, debts or financial and legal liabilities.
2. Limited partner: it is a type of partnership in which people come together and have an agreement to do business but the involved partners only contribute financially and solely responsible to the amount of money they invested.
Capital resources include the physical assets used for production of goods and services such as equipment, money, plant, etc.
Hence, with regard to a limited partner's capital contribution to the limited partnership, a promise made by one of the limited partners with respect to contributing to the limited partnership isn't enforceable unless it is explicitly and expressly stated in writing with an accompanying signature.
WILL GIVE BRAINLIEST PLS ANSWER (PERSONAL AND FAMILY FINANCE)
Yusef’s financial advisor tells him that he has made a great budget. Why was he MOST likely successful with his budget?
A.
He refused to accept any changes to it.
B.
He did not share the information with his family.
C.
He chose realistic amounts for each category.
D.
He was the only member of the family who crafted it.
Answer: A
Explanation:
Yusef’s financial advisor tells him that he has made a great budget. He is most likely successful with his budget because he refused to accept any changes to it. Option (a) is correct.
What do you mean by Budget?A budget is a financial plan that projects future earnings and costs.
The Personal and Family Finance assessment and certification will cover both foundational skills for personal and family finance careers as well as skills required for success in managing personal and family financial matters in daily life (a necessary skill set to maximize success in all career areas).
The phrase "personal finance" refers to managing your finances as well as saving and investing. It includes financial planning for retirement, taxes, and estates, as well as banking, insurance, mortgages, and investments.
Therefore, Option (a) is correct. He refused to accept any changes to it.
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The transactions of Spade Company appear below. Kacy Spade, owner, invested $16,250 cash in the company in exchange for common stock. The company purchased office supplies for $471 cash. The company purchased $8,986 of office equipment on credit. The company received $1,917 cash as fees for services provided to a customer. The company paid $8,986 cash to settle the payable for the office equipment purchased in transaction c. The company billed a customer $3,445 as fees for services provided. The company paid $515 cash for the monthly rent. The company collected $1,447 cash as partial payment for the account receivable created in transaction f. The company paid a $1,100 cash dividend to the owner (sole shareholder). Required: 1. Prepare general journal entries to record the transactions above for Spade Company by using the following accounts: Cash; Accounts Receivable; Office Supplies; Office Equipment; Accounts Payable; Common Stock; Dividends; Fees Earned; and Rent Expense. 2. Post the above journal entries to T-accounts, which serve as the general ledger for this assignment.
Stock X and Stock Y have a correlation coefficient of .5. Stock X has an expected return of 10% and a standard deviation of 10%. Stock Y has an expected return of 14% and a standard deviation of 21%. What is the portfolio standard deviation if 60% of your wealth is invested in Stock X and 40% in Stock Y
Answer:
12.53%
Explanation:
Since there are only two assets in the portfolio, its standard deviation can be determined using the two-asset portfolio standard deviation provided below;
σP = (wA2 * σA2 + wB2 * σB2 + 2 * wA * wB * σA * σB * ρAB)^(1/2)
wA=proportion of the portfolio invested in X=60%
σA=standard deviation of return on X= 10%
wB=proportion of the portfolio invested in Y=40%
σB=standard deviation of return on Y =21%
ρAB= correlation between X and Y=.5
σP=(60%^2*10%^2+40%^2*21%^2+2*60%*40%*10%*21%*.5)^(1/2)
σP=12.53%
Bustillo Incorporated is working on its cash budget for March. The budgeted beginning cash balance is $54,000. Budgeted cash receipts total $138,000 and budgeted cash disbursements total $133,000. The desired ending cash balance is $78,000. To attain its desired ending cash balance for March, the company needs to borrow:____.
Answer:
$19,000
Explanation:
Calculation to determine To attain its desired ending cash balance for March, the company needs to borrow
First step is to calculate the Actual ending cash balance
Using this formula
Actual ending cash balance = Beginning cash balance + Cash receipts −Cash disbursements
Let plug in the formula
Actual ending cash balance= $54,000 + $138,000 −$133,000
Actual ending cash balance= $59,000
Now let calculate the Amount borrowed
Using this formula
Amount borrowed = Desired ending cash balance −Actual ending cash balance
Let plug in the formula
Amount borrowed = $78,000 −$59,000
Amount borrowed= $19,000
Therefore To attain its desired ending cash balance for March, the company needs to borrow $19,000
A newspaper vendor is trying to determine how many daily papers to order. The cost to the vendor of a single paper is $0.75. The vendor sells each paper for $1.85. The value of the paper will drop to 0 the next day. If the daily demand for papers is normally distributed with a mean of 500 papers and a standard deviation of 100 papers. The newspaper vendor should order how many papers?
a. 500
b. 525
c. 559
d. 795
e. 475
Answer:c
Explanation:cuz it c
910. Show the relationship between short-run MC and MP1, and AYC and AP, mathematically
and graphically (1pts)
Explanation:
MC is at its minimum at the same output for which MP is at its maximum; AVC is at its minimum at the same output for which AP is at its maximum. A technological advance that increases productivity shifts the product curves upward and cost curves downward.
What are the characteristics of Insurance contract
Answer:
Characteristic features of an Insurance Contract
Insurable interest. A person can enter into a contract of insurance only when he has some insurable interest on the life or property which is insured.
Contract of 'Uberrimae fidei' or Contract of Utmost good faith
1:Indemni0
2: Mitigation of Loss
3: Causa proxima
4: Subrogation
5: Contribution
6: Re-insurance
Hope this helps Have a good day
g at the close of its first year of operations, december 31, 2020, delaware company reported net realizable value of accounts receivable of $1,620,000. during 2020,the company had charges to bad debt expense of $270,000 and wrote off, as uncollectible, accounts receivable of $120,000. what should the company report on its balance sheet at december 31, 2020, as accounts receivable before the allowance for doubtful accounts
Answer:
$1,770,000
Explanation:
Given the above information, the computation of accounts receivable before the allowance is shown below;
= Beginning account receivable balance + Bad debt expense - Uncollectible accounts receivables
= $1,620,000 + $270,000 - $120,000
= $1,770,000
The bad debt is an expense hence will be added whereas the account receivable which is yet to be collected should be deducted the computation part.
Customers have become increasingly anxious about breaches of privacy, and it is essential for marketing researchers to _________. Group of answer choices conceal consumers' addresses and phone numbers when they share information share information only with the sales department for follow-up respect and protect the privacy of customers without question refer to the company's code of ethics to determine what information can be released All of these
Answer:
All of these.
Explanation:
Marketing can be defined as the process of developing promotional techniques and sales strategies by a firm, so as to enhance the availability of goods and services to meet the needs of the end users or consumers through advertising and market research.
Market research can be defined as a strategic technique which typically involves the process of identifying, acquiring and analyzing informations about a business. It involves the use of product test, surveys, questionnaire, focus groups, interviews, etc.
Over the years, customers have become increasingly anxious about breaches of privacy and compromise of their data by business firms. Thus, it is essential for marketing researchers to;
I. Conceal or hide consumers' addresses (both work and home) and phone numbers when they share information on any platform.
II. They should only share customer information with the sales department for follow-up.
III. Respect and protect the privacy of all of their customers without question or recourse.
IV They should always refer to the company's code of ethics so as to determine what information are permitted to be released for public consumptions.
Nat is a salesman for a real estate developer. His employer permits him to purchase a lot for $75,000. The employer's adjusted basis for the lot is $45,000, and its normal selling price is $90,000. What is Nat's recognized gain and his basis for the lot
Answer:
Recognized gain = $15,000
Basis for lot = $90,000
Explanation:
According to the scenario, computation of the given data are as follows,
Purchase amount = $75,000
Adjusted basis = $45,000
Normal selling price = $90,000
So, Recognized gain = Normal selling price - Purchase amount
By putting the value, we get
Recognized gain = $90,000 - $75,000
= $15,000
Now, Basis for lot = Purchase amount + Recognized gain
= $75,000 + $15,000
= $90,000
Steinberg Company produces commercial printers. One is the regular model, a basic model that is designed to copy and print in black and white. Another model, the deluxe model, is a color printer-scanner-copier. For the coming year, Steinberg expects to sell 90,000 regular models and 18,000 deluxe models. A segmented income statement for the two products is as follows:
Regular Model Deluxe Model Total
Sales $13,500,000 $12,150,000 $25,650,000
Less: Variable costs 9,000,000 7,290,000 16,290,000
Contribution margin $4,500,000 $4,860,000 $9,360,000
Less: Direct fixed costs 1,200,000 960,000 2,160,000
Segment margin $3,300,000 $3,900,000 $7,200,000
Less: Common fixed costs 1,280,000
Operating income $5,920,000
Required:
1. Compute the number of regular models and deluxe models that must be sold to break even.
2. Using information only from the total column of the income statement, compute the sales revenue that must be generated for the company to break even.
Answer:
1. Regular models 24,000
Deluxe models 3,556
2.17.4354%
Explanation:
1. Computation for the number of regular models and deluxe models that must be sold to break even
REGULAR MODEL:
First step is to calculate the Contribution per unit using this formula
Contribution per unit=Contribution/No.ofunits
Let plug in the formula
Contribution per unit=$4,500,000/90
Contribution per unit=50
Now let calculate the Break even units using this formula
Break even units=Direct fixed costs/Contribution per unit
Let plug in the formula
Break even units=$1,200,000/50
Break even units=24,000
DELUXE MODEL:
First step is to calculate the Contribution per unit using this formula
Contribution per unit=Contribution/No.ofunits
Let plug in the formula
Contribution per unit=$4,860,000/18,000
Contribution per unit=270
Now let calculate the Break even units using this formula
Break even units=Direct fixed costs/Contribution per unit
Let plug in the formula
Break even units=960,000/270
Break even units=3,556
Therefore the number of regular models and deluxe models that must be sold to break even are:
Regular models 24,000
Deluxe models 3,556
2. Computation for the sales revenue that must be generated for the company to break even
First step is to calculate the Break-even sales -
Break-even sales = 16,290,000 + 2,160,000 + 1,280,000
Break-even sales = 19,730,000
Second step is to calculate the Contribution Using this formula
Contribution = Break-even sales - Variable costs
Let plug in the formula
Contribution = 19,730,000 - 16,290,000
Contribution = $3,440,000
Now let calculate the Contribution margin ratio using this formula
Contribution margin ratio=Contribution/Break even sales *100
Contribution margin ratio=$3,440,000/$19,730,000*100
Contribution margin ratio=17.4354%
Therefore the Contribution margin ratio is 17.4354%
Assume that you are on the financial staff of Vanderheiden Inc., and you have collected the following data: The yield on the company’s outstanding bonds is 7.75%, its tax rate is 40%, the next expected dividend is $0.65 a share, the dividend is expected to grow at a constant rate of 6.00% a year, the price of the stock is $19.00 per share, the flotation cost for selling new shares is F = 10%, and the target capital structure is 45% debt and 55% common equity. What is the firm's WACC, assuming it must issue new stock to finance its capital budget?
Answer:
WACC = 7.48%
Explanation:
We can calculate the Firm's WACC by using Excel.
Let's assume this is our Excel Blank Sheet.
A B C D
1 Particulars Rate Weight Weighted rate
2 Debt = 7.75%(1 - 40%) 0.45 =B2×C2
= 4.65%
3 Equity = (0.65/(19 × (1 - 10%)))+6%
= 9.80% 0.55 = B3×C3
4 WACC =SUM(D2:D3)
Output:A B C D
1 Particulars Rate Weight Weighted rate
2 Debt = 4.65% 45% 2.09%
3 Equity = 9.80% 55% 5.39%
4 WACC 7.48%