Answer: $28,000
Explanation:
Jonathan can deduct both the real estate taxes and the state income taxes but the Tax Cuts and Jobs Act cut the deduction one can claim on State and Local taxes to $10,000 from 2018 to 2025.
The total deduction Jonathan can claim is therefore:
= Real estate taxes + Capped state income tax
= 18,000 + 10,000
= $28,000
A year ago, an investor bought shares of a mutual fund at $ per share. This year, the fund has paid dividends of per share and had a capital gains distribution of $ per share. a. Find the investor's holding period return, given that this no-load fund now has a net asset value of $. b. Find the holding period return, assuming all the dividends and capital gains distributions are reinvested into additional shares of the fund at an average price of $ per share.
Complete Question
1. One year ago, an investor bought 200 shares of a mutual fund at $8.50 per share. Over the past year, the fund has paid dividends of $.90 per share and had a capital gains distribution of $.75 per share.
a. Find the investor's holding period return, given that this no-load fund now has a net asset value of $9.10.
b. Find the holding period return, assuming all the dividends and capital gains distributions are reinvested into additional shares of the fund at an average price of $8.75 per share.
Answer:
a. Holding period returns = 26.47%
b. Holding period returns = 27.41%
Explanation:
a) Data and Calculations:
Number of shares bought = 200
Price per share of the mutual fund = $8.50
Dividends per share = $0.90
Capital gains distribution per share = $0.75
Total initial investment cost = $1,700 (200 * $8.50)
Total dividends = $180 (200 * $0.90)
Total capital gains distribution = $150 (200 * $0.75)
Net asset value = $9.10 per share
Total net asset value = $1,820 (200 * $9.10)
Holding period returns:
Dividends $180
Capital gains $150
Price change $120
Total returns = $450
Holding period returns = $450/$1,700 * 100 = 26.47%
Reinvestment of dividends and capital gains distribution:
Initial investment cost = $1,700
Reinvestment cost = 330
Total investment costs = $2,030
Number of additional shares = $330/$8.75 = 38 shares
Total returns = $466 (238 * $9.10) - (200 * $8.50)
Holding period returns in percentage = $466/$1,700 * 100 = 27.41%
Smith Company sells a single product at a selling price of $30 per unit. Variable expenses are $12 per unit and fixed expenses are $115,920. Smith's break-even point is: Multiple Choice 3,864 units 9,660 units 19,320 units 6,440 units
Answer:
6,440 units
Explanation:
Smith's break-even point is: 6,440 units
A zero-coupon bond has a yield to maturity of 5% and a par value of $1,000. If the bond matures in 16 years, it should sell for a price of ________ today. (Hint: use financial calculator to get PV.) $641.11 $458.11 $1,100.11 $789.11
Answer:
$458.11
Explanation:
The computation of the present value is shown below;
As we know that
Present value = Future value ÷ (1 + rate of interest)^number of years
= $1,000 ÷ (1 + 0.05)^16
= $1,000 ÷ 1.05^16
= $458.11
Hence, the bond should be sell at a price of today is $458.11
Therefore the second option is correct
The same would be considered and relevant
Lore Co. changed from the cash basis to the accrual basis of accounting during 2005. The cumulative effect of this change should be reported in Lore's 2005 financial statements as a Group of answer choices Prior period adjustment resulting from the correction of an error. Prior period adjustment resulting from the change in accounting principle. Adjustment to retained earnings for an accounting principle change. Component of income after extraordinary item.
Answer: Prior period adjustment resulting from the correction of an error.
Explanation:
The Cash basis method is not acceptable under both IFRS and U.S. GAAP accounting principles and these are the principles followed by the majority of the world so Lore Co. was using the cash basis in violation of both conventions which means that their accounting records before the change are considered wrong and full of errors.
In changing to the acceptable principles, they are correcting that error and need to adjust prior periods for that error as well.
Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person's status as employed, unemployed, "not in the labor force" (if not in the civilian labor force but still part of the adult population), or "not in the adult population" if not in the civilian adult population.
a. Van is a 22-year-old professional tennis player. When he's not competing, he works as a coach at a local tennis club.
b. Amy is a 42-year-old autoworker who was just laid off by her employer. She is trying to find any kind of job to help make ends meet.
c. Carlos is a 42-year-old accountant who has been out of work for almost a year. He became so discouraged that he gave up on his job search a couple of months ago.
d. Janet is a 26-year-old who lost her job as a copy editor for a local newspaper. She has spent the past few weeks out of work and interviewing for other editing jobs. She is thinking about going back to grad school if her job search doesn't succeed after a few more weeks.
Answer:
employed
unemployed
not in the labour force
unemployed
Explanation:
The labour force consists of those who are between the ages of 18 - 60 who are either employed or unemployed but are seeking employment
The labour force does not include a discouraged worker
A discouraged worker is a worker that after searching for a job for a long period and does not find a job gets discouraged and stops seeking employment
An employed person is person with a job while an unemployed person does not have a job
Gain contingencies usually are recognized in a company's income statement when: Multiple Choice The gain is reasonably possible and the amount is reasonably estimable. The gain is certain The amount is reasonably estimable. The gain is probable and the amount is reasonably estimable.]
Answer: The gain is certain
Explanation:
A Gain contingency means that the company stands to make a gain in future if a certain event happens such as the company winning a lawsuit that would result in a good settlement figure for them.
According to U.S. GAAP, gain contingencies are not to be recognized unless it is certain that the gain is coming. If the gain is not certain and is recorded, the income is considered overstated.
n Corporation budgeted fixed manufacturing costs of $34,000 during 2020. Other information for 2020 includes: The budgeted denominator level is 2,000 units. Units produced total 1,800 units. Units sold total 1,200 units. Beginning inventory was zero. The company uses absorption costing and the fixed manufacturing cost rate is based on the budgeted denominator level. Manufacturing variances are closed to cost of goods sold. The production−volume variance is ________. (Round any intermediary calculations to the nearest cent and your final answer to the nearest dollar.)
Answer:
The answer is "[tex]\$3,400[/tex]"
Explanation:
Using formula:
[tex]\text{Production Volume Variance = Budgeted O/H cost -Absorbed cost}[/tex]
[tex]\text{Budgeted O/H cost} = 34000\\\\\text{O/H Rate = Bdt OH/Bdt units}\\\\[/tex]
[tex]= \frac{34000}{2000}\\\\= \frac{34}{2} \\\\ = 17[/tex]
[tex]\text{Absorbed cost }= 1800\ units \times 17 \ = 30,600\\\\Variance = 34,000 -30,600 = 3,400[/tex]
On October 1, 2014, Balkan, Inc. accepted from another corporation a 1-year note receivable in the amount of $15,000, with an interest rate of 6%. On December 31, 2014, Balkan accrued the interest income earned to date. How did this accrual affect Balkan's financial statements
Answer:
Balkan, Inc
The accrual effects on Balkan's financial statements are:
1. Income Statement: The interest income is increased by $225.
2. Balance Sheet: The current assets (interests receivable) are increased by $225.
3. Statement of Cash Flows: The operating cash flow is reduced by $225.
Explanation:
a) Data and Calculations:
Note receivable accepted on October 1, 2014 = $15,000
Interest rate on the note = 6%
Interest accrued on December 31, 2014 = $225 ($15,000 * 6% * 3/12)
Under the indirect method of preparing the Statement of Cash Flows, when a current asset increases, it signifies the use of funds (non-collection of funds).
Top Line Electronics has a piece of machinery that costs $600,000 and is expected to have a useful life of 4 years. Residual value is expected to be $100,000. Using the double-declining-balance method, what is depreciation expense for the first year
Answer:
Annual depreciation= $250,000
Explanation:
Giving the following information:
Purchase price= $600,000
Salvage value= $100,000
Useful life= 4 years
To calculate the annual depreciation, we need to use the following formula:
Annual depreciation= 2*[(book value)/estimated life (years)]
Annual depreciation= 2*[(600,000 - 100,000) / 4]
Annual depreciation= $250,000
Robinson spends all his income on mangos and bananas. Mangos cost $3 per pound. Robinson's marginal utility is 30 for the last pound of mangos purchased and 10 for the last pound of bananas. If Robinson maximizes his utility from consuming these goods, the price of bananas is
Answer:
$1 per pound
Explanation:
Marginal utility is defined as the additional satisfaction that a person gains from consumption of an additional unit of a product.
Since Robinson spends all of his money on mangoes and bananas his the marginal utility per price of each product will be equal.
This is called equi marginal utility (Gossens second law).
Marginal utility of mango ÷ price of mango = marginal utility of banana ÷ price of banana
30 ÷ 3 = 10 ÷ price of mango
10 = 10 ÷ price of mango
Cross multiply
Price of mango * 10 = 10
Price of mango = 10 ÷ 10 = $1 per pound
Brief Exercise 24-06 In October, Sheridan Company reports 20,900 actual direct labor hours, and it incurs $122,990 of manufacturing overhead costs. Standard hours allowed for the work done is 25,100 hours. The predetermined overhead rate is $4.95 per direct labor hour. Compute the total overhead variance
Answer:
Total overhead variance = $1,255 F
Explanation:
Total overhead variance is the sum of the expenditure variance and efficiency variance of overhead.
Absorbed overhead = Predetermined overhead rate per hour× Actual labour hour
Expenditure variance
$
standard cost of actual hours
= (20,900× $4.95) 103,455
Actual overhead = 122,990
Under-absorbed overhead 19,535 Adverse
Efficiency variance
(Standard hours - Actual hours)× pre-determined rate
(25,100- 20,900)× $4.95 = $20,790 Favorable
Total overhead variance = 20,790 F + 19,535 A =$1,255 F
Total overhead variance = $1,255 F
All of the following are examples of retailers EXCEPT?
A. A famer sells his produce at a roadside stand.
B. A fisherman sells his fish at the dock to local residents
C. A woman sells cosmetics to consumers during a theme party.
D. A pipe producer sells pipes to plumbers to use in remodeling a home
Answer:
your answer is c.
Explanation:
it says they all sell their own products except c, which says they sell consmetics, not retailing their own
A woman who sells cosmetics to consumers during a theme party is not an example of a retailer because here there is no channel of distribution mentioned and even the purpose is not commercial.
Who is called a retailer?A retailer, or retailer, is a business that sells goods such as clothing, groceries, or cars directly to consumers through various distribution channels for the purpose of making a profit.
This merchant can work in real estate or online.
Thus, Option C is the correct choice.
To know more about retailers refer:
https://brainly.com/question/25376778
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Exercise 14-27 (Algorithmic) (LO. 3) On May 9, 2020, Glenna purchases 500 shares of Ignaz Company stock for $14,400. On June 30, 2020, she writes a call option on the stock, giving the grantee the right to buy the stock for $18,000 during the following 12-month period. Glenna receives a call premium of $144 for writing the call. The call is exercised by the grantee on December 15, 2020. a. What is the amount and character of Glenna's gain or loss
Answer: uh huh, this my sh
All the girls stomp your feet like this
A few times I've been around that track
So it's not just gonna happen like that
'Cause I ain't no hollaback girl
I ain't no hollaback girl
A few times I've been around that track
So it's not just gonna happen like that
'Cause I ain't no hollaback girl
I ain't no hollaback girl
Ooh, ooh, this my sh, this my sh
Ooh, ooh, this my sh, this my sh
Ooh, ooh, this my sh, this my sh
Ooh, ooh, this my sh, this my sh
I heard that you were talking sh
And you didn't think that I would hear it
People hear you talking like that
Getting everybody fired up
So I'm ready to attack, gonna lead the pack
Gonna get a touchdown, gonna take you out
That's right, put your pom-poms downs
Getting everybody fired up
A few times I've been around that track
So it's not just gonna happen like that
'Cause I ain't no hollaback girl
I ain't no hollaback girl
A few times I've been around that track
So it's not just gonna happen like that
'Cause I ain't no hollaback girl
I ain't no hollaback girl
Ooh, ooh, this my sh, this my sh
Ooh, ooh, this my sh, this my sh
Ooh, ooh, this my sh, this my sh
Ooh, ooh, this my sh, this my sh
So that's right dude, meet me at the bleachers
No principals, no student-teachers
Both of us want to be the winner, but there can only be one
So I'm gonna fight, gonna give it my all
Gonna make you fall, gonna sock it to you
That's right I'm the last one standing, another one bites the dust
Few times I've been around that track
So it's not just gonna happen like that
'Cause I ain't no hollaback girl
I ain't no hollaback girl
A few times I've been around that track
So it's not just gonna happen like that
'Cause I ain't no hollaback girl
I ain't no hollaback girl
Ooh, ooh, this my sh, this my sh
Ooh, ooh, this my sh, this my sh
Ooh, ooh, this my sh, this my sh
Ooh, ooh, this my sh, this my sh
Let me hear you say, this sh is bananas
B-A-N-A-N-A-S
This sh is bananas
B-A-N-A-N-A-S
Again, the sh is bananas
B-A-N-A-N-A-S
This sh is bananas
B-A-N-A-N-A-S
A few times I've been around that track
So it's not just gonna happen like that
'Cause I ain't no hollaback girl
I ain't no hollaback girl
A few times I've been around that track
So it's not just gonna happen like that
'Cause I ain't no hollaback girl
I ain't no hollaback girl
Ooh, ooh, this my sh, this my sh
Ooh, ooh, this my sh, this my sh
Ooh, ooh, this my sh, this my sh
Ooh, ooh, this my sh, this my sh
ssued 10,800 shares of common stock at $6.00 per share. Issued 20,400 shares of common stock at $8.20 per share. Reported a net income of $108,000. Paid dividends of $59,000. Purchased 3,100 shares of treasury stock at $10.20 (part of the 20,400 shares issued at $8.20). What is total shareholders' equity at the end of 2021
Answer:
$249,460
Explanation:
Calculation to determine total shareholders' equity at the end of 2021
Issued of stock $64,800
( 10,800 shares *$6.00 per share)
Issued of stock $167,280
(20,400 shares *$8.20 per share)
Net income of $108,000
Less Dividends ( $59,000)
Less Treasury stock ($31,620)
( 3,100 shares $10.20)
2021 Ending total shareholders' equity $249,460
Therefore The total shareholders' equity at the end of 2021 is $249,460
Black Corporation had a 1/1/17 balance in the Allowance for Doubtful Accounts of $21,000. During 2017, it wrote off $15,120 of accounts and collected $4,410 on accounts previously written off. The balance in Accounts Receivable was $420,000 at 1/1 and $504,000 at 12/31. At 12/31/17, Black estimates that 5% of accounts receivable will prove to be uncollectible. What should Black report as its Allowance for Doubtful Accounts at 12/31/17
Answer:
$25,200
Explanation:
Calculation to determine What should Black report as its Allowance for Doubtful Accounts at 12/31/17
Using this formula
12/31/17 Allowance for Doubtful Accounts=12/31 Accounts Receivable Balance*Estimated Uncollectibles accounts receivable percentage
Let plug in the formula
12/31/17 Allowance for Doubtful Accounts=$504,000*5%
12/31/17 Allowance for Doubtful Accounts=$25,200
Therefore What Black should report as its Allowance for Doubtful Accounts at 12/31/17 is $25,200
The following T-account is a summary of the Cash account of Tamarisk, Inc.. Cash (Summary Form) Balance, Jan. 1 8,200 Receipts from customers 362,100 Payments for goods 294,200 Dividends on stock investments 6,700 Payments for operating expenses 139,800 Proceeds from sale of equipment 36,300 Interest paid 10,400 Proceeds from issuance of bonds payable 500,400 Taxes paid 8,100 Dividends paid 60,400 Balance, Dec. 31 400,800 What amount of net cash provided (used) by financing activities should be reported in the statement of cash flows?
Answer:
$440,000
Explanation:
What amount of net cash provided (used) by financing activities should be reported in the statement of cash flows?
Cash-flow from Financing activities
Particulars Amount
Proceeds from issuance of bonds payable $500,400
Dividends paid -$60,400
Net cash provided by financing activities $440,000
g granted options on January 1, 2021, that permit executives to purchase 23 million of the company's $1 par common shares within the next eight years, but not before December 31, 2023 (the vesting date). The exercise price is the market price of the shares on the date of grant, $20 per share. The fair value of the options, estimated by an appropriate option pricing model, is $6 per option. No forfeitures are anticipated. The options are exercised on April 2, 2024, when the market price is $23 per share. By what amount will VF's shareholder's equity be increased when the options are exercised
Answer:
$460
Explanation:
Calculation to determine what amount will VF's shareholder's equity be increased when the options are exercised
First step is to calculate the fair value of award using this formula
Fair value of award=Fair value per option×Options granted
Let plug in the formula
Fair value of award=$138
Based on the above calculation the amount of $138 million total compensation will be expensed equally over the vesting period of 3 years thereby increasing the balance in the PAID-IN CAPITAL-STOCK OPTIONS ACCOUNT
Dr Cash $460
($20 exercise price × 23 million shares)
Dr Paid-in capital - stock options (account balance)138
(6*23)
Cr Common stock 23
(23 million shares at $1 par per share)
Cr Paid-in capital—excess of par (remainder)575
Now let calculate the Increase in shareholder's equity
Increase in shareholder's equity=$575 + $23 - $138
Increase in shareholder's equity= $460
Therefore The amount that VF's shareholder's equity will increased when the options are exercised is $460
The severalty owner of a parcel of land sells it to a buyer. The buyer insists that the owner's wife join in signing the deed. The purpose of obtaining the wife's signature is to
Answer:
waive any marital or homestead rights
Explanation:
In the case when the owner of the parcel of land sold to the buyer so the buyer insist to the wife of the owner to sign the deed. Here the motive to receiving the signature of the owner wife is to be waived off the rights of martial or homestead
So the above represent the answer
hence, the same would be relevant
Sheffield Corp. sold $134000 of goods and accepted the customer's $134000 9%, 1-year note receivable in exchange. Assuming 9% approximates the market rate of return, what would be the debit in this journal entry to record the sale
Answer:
Debit Notes Receivable for $134,000
Explanation:
Based on the information given what would be the debit in this journal entry to record the sale will be DEBIT NOTES RECEIVABLE FOR $134,000 as we were told that the amount of $134,000 9%, 1-year NOTE RECEIVABLE in exchange was accepted from the customer which therefore means that we are going to DEBIT NOTES RECEIVABLE FOR the amount of $134,000.
What should a colleague do if a box that looks like it’s leaking ?
Answer:
It might be something scary, like a health situation you've been ignoring while hoping it.
Explanation:
On February 28, Memory Inc's board of directors declares a $100,000 dividend, payable to all shareholders as of March 10. The dividend is paid in cash on March 20. What, if any, is Memory's journal entry on February 28
Answer:
The journal entry for February 28 should be:
Dr Retained earnings 100,000
Cr Dividends payable 100,000
Cash dividends are declared
February 28 is called the dividend declaration date and at that moment, the cash dividend becomes a reality even if it is going to be paid later, and therefore, it must be reported.
Inventory records for Marvin Company revealed the following: Date Transaction Number of Units Unit Cost Mar. 1 Beginning inventory 900 $ 7.26 Mar. 10 Purchase 520 7.76 Mar. 16 Purchase 452 8.36 Mar. 23 Purchase 510 9.06 Marvin sold 1,760 units of inventory during the month. Ending inventory assuming FIFO would be: (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.)
Answer:
Ending inventory cost= $5,556.92
Explanation:
Giving the following information:
Mar. 1 Beginning inventory 900 $ 7.26
Mar. 10 Purchase 520 7.76
Mar. 16 Purchase 452 8.36
Mar. 23 Purchase 510 9.06
Units sold= 1,760
Under the FIFO (first-in, first-out) method, the ending inventory is calculated using the costs of the last units incorporated into inventory:
Units in ending invnetory= 2,382 - 1760= 622
Ending inventory cost= 510*9.06 + 112*8.36
Ending inventory cost= $5,556.92
indirect materials are those used that enter into and become a major part of the finished product true or false
Consider a stock with current year dividend equal to $2.00 per share. You believe the dividend will grow 15% per year for 10 years and 4% per year thereafter.The required equity rate of return (and your hurdle rate) is 10%. What is the fair price of the stock? Assuming the market price of the stock is $70, what is the expected return?
Answer:
a. Fair price of the stock = $79.82
b. The expected return is 7.29%
Explanation:
a. What is the fair price of the stock?
Note: See the attached file for the calculation of present values (PV) of dividends for year 1 to 10.
From the attached excel file, we have:
Previous year dividend in year 1 = Current year dividend = $2
Total of dividends from year 1 to year 10 = $25.74793130208810
Year 10 dividend = $8.09111547141582
Therefore, we have:
Year 11 dividend = Year 10 dividend * (100% + Dividend growth rate in year 11) = $8.09111547141582 * (100% + 4%) = $8.41476009027245
Share price at year 10 = Year 11 dividend / (Required equity rate of return - Perpetual dividend growth rate) = $8.41476009027245 / (10% - 4%) = $140.246001504541
PV of share price at year 10 = Price at year 10 / (100% + required equity rate of return)^Number of years = $140.246001504541 / (100% + 10%)^10 = $54.0709047493998
Therefore, we have:
Fair price of the stock = Total of dividends from year 1 to year 10 + PV of share price at year 10 = $25.74793130208810 + $54.0709047493998 = $79.82
b. Assuming the market price of the stock is $70, what is the expected return?
This can be calculated using the dividend discount model formula as follows:
P = D1 / (r - g) ............................ (1)
Where,
P = Market price of the stock = $70
D1 = Next dividend = Current dividend * (100% + Dividend growth rate in perpetuity) = $2 * (100% + 4%) = $2.30
r = Expected return = ?
g = Dividend growth rate in perpetuity = 4%, or 0.04
Substituting the values into equation (1) and solve for r, we have:
70 = 2.30 / (r - 0.04)
70(r - 0.04) = 2.30
70r - 2.80 = 2.30
70r = 2.30 + 2.80
70r = 5.10
r = 5.10 / 70
r = 0.0729, or 7.29%
Therefore, the expected return is 7.29%.
A project is chartered to determine new ways to extend the product life of one of the company's medium-producing products. The project manager comes from the engineering department, and the team comes from the product management and marketing departments. The project scope statement and project planning are completed when a stakeholder notifies the team that there is a better way to complete one of the work packages. The stakeholder supplies a technical review letter from his department proving that the new way to complete the work package will actually be faster than the old way. The project manager has had similar experiences with this department on other projects, and was expecting this to happen on this project. What is the first thing the project manager should do
Answer: A. Look for how this change will impact the cost to complete the work package and the quality of the product of the work package.
Explanation:
More efficiency in the company's operations is always welcome so if the stakeholder has an idea that can make things better, it should be considered.
It should however, only be considered if it meets certain criteria such as: having a cost that will not significantly impart the cost to complete the work package or at least if it did, its contributed to the quality of the work package should be such that it is significant enough to cover the increased costs.
oetz Corporation has gathered the following data on a proposed investment project (Ignore income taxes.): Investment required in equipment $ 30,000 Annual cash inflows $ 6,000 Salvage value of equipment $ 0 Life of the investment 15 years Required rate of return 10 % The company uses straight-line depreciation on all equipment. Assume cash flows occur uniformly throughout a year except for the initial investment. Refer to Exhibit 12B-1 and Exhibit 12B-2, to determine the appropriate discount factor(s) using the tables provided. The internal rate of return of the investment is closest to:
Answer:
10.25%
Explanation:
Internal rate of return is the discount rate that equates the after-tax cash flows from an investment to the amount invested
IRR can be calculated with a financial calculator
Cash flow = cash inflow - cash outflow
cash outflow = depreciation expense
Straight line depreciation expense = (Cost of asset - Salvage value) / useful life
$30,000 / 15 = $2000
Cash flow = $6000 - 2000 = $4000
Cash flow in year 0 = $-30,000
Cash flow in year 1 to 15 = 4,000
IRR = 10.24%
To find the IRR using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. After inputting all the cash flows, press the IRR button and then press the compute button.
Suppose the exchange rate is such that 1 U.S. dollar equals 1 euro in New York and 0.9 euros in Paris. An arbitrageur would sell euros _____ a. in New York and buy U.S. dollars in Paris. b. in both Paris and New York at different prices. c. in New York while buying them in Paris. d. in Paris while buying them in New York. e. at the same price in both cities.
Answer: d. in Paris while buying them in New York.
Explanation:
An arbitrageur aims to make a profit by trading in different markets where prices are different.
To take advantage of this opportunity, the arbitrageur would sell Euros in Paris where they know they will be able to get more U.S. dollars because the dollar is weaker there.
Once they get more dollars in Paris than they would have gotten in New York, they will then take those dollars to new York where they will be able to buy more Euros than they sold because the dollar is now on par with the Euro.
Gain:
In Paris using 1 Euro they were able to buy = 1 / 0.9 = $1.11
In New York they bought back the 1 Euro for $1.
Gain = 1.11 - 1 = $0.11
When the general level of prices rises, the economy is experiencing ____.
What is a financial agreement to pay off cars and other household appliances?
Credit
Tax debt
Interest
Installment Agreement
Answer:
Installment Agreement
Explanation:
Larance Detailing's cost formula for its materials and supplies is $1,910 per month plus $10 per vehicle. For the month of November, the company planned for activity of 86 vehicles, but the actual level of activity was 51 vehicles. The actual materials and supplies for the month was $2,430. The materials and supplies in the flexible budget for November would be closest to:
Answer:
$2,420
Explanation:
Calculation to determine what The materials and supplies in the flexible budget for November would be closest to:
Using this formula
Cost = Fixed cost + (Variable cost per unit × q)
Let plug in the formula
Cost= $1,910 + $10 × 51
Cost= $2,420
Therefore The materials and supplies in the flexible budget for November would be closest to:$2,420