Answer:
reseller
Explanation:
A resller is a person that purchases finished goods and sells them again to customers in order to earn a profit. Resellers do not make changes or modify the products they buy. Resellers can be wholesalers or retailers.
i hope my answer helps you
A product found in homes built before 1978 is harmful to children. It can lead to birth defects and is generally hazardous. It should only be cleaned up by specialists, and is a required disclosure for sales of real property. What environmental hazard is this?
Answer:
Asbestos
Explanation:
This environmental hazard is asbestos. Exposure to asbestos especially for a long term period is very detrimental to health. It's fibres can be easily inhaled to the lungs which is dangerous and can cause fibrotic lung disease and also lung cancer. It can lead to defects in birth when inhaled by a pregnant woman and many other health problems. During sales of property it is very important that such hazard is disclosed to the other party.
Refer to the following list of liability balances at December 31, 2019.
Accounts Payable $13,000
Employee Health Insurance
Payable 1,150
Employee
Income Tax Payable 1,200
Estimated Warranty Payable (Due 2020) 1,500
Long-Term Notes Payable (Due 2022) 41,000
FICA-OASDI Taxes Payable 1,160
Sales Tax Payable 770
Mortgage Payable (Due 2023) 8,000
Bonds Payable (Due 2024) 59,000
Current Portion of Long - Term Notes Payable 5,500
What is the total amount of long-term liabilities?
A. $100,000
B. $108,000
C. $41,000
D. $49,000
Answer:
B. $108,000
Explanation:
The computation of the total amount of long-term liabilities is shown below:-
Total amount of long-term liabilities = Long term notes payable (Due 2022) + Mortgage payable (Due 2023) + Bonds payable (Due 2024) + Long term liabilities
= $41,000 + $8,000 + $59,000
= $108,000
Therefore for computing the total amount of long-term liabilities we simply applied the above formula and we have not considered as they are not relevant and not covered into long-term liabilities as they all are current liabilities
Griffin's Goat Farm, Inc., has sales of $604,000, costs of $255,000, depreciation expense of $53,000, interest expense of $35,000, and a tax rate of 23 percent. What is the net income for this firm
Answer:
The answer is $200,970
Explanation:
Solution
Given that
Now
Sales =$604,000
Costs= $255,000
Depreciation=$53,000
Thus
EBIT (Earnings before taxes and interest)=$296,000
The interest Expense = $35,000
Taxable income =$200,970
Taxes($261,000 * 23% =$60,030
The net income = $200,970
Therefore the net income for the firm is $200,970
Answer:
$200,970
Explanation:
Hope this helps
Suppose the wealth effect is such that a $10 change in wealth produces a $2 change in consumption at each level of income. Assume real estate prices tumble such that wealth declines by $160. Instructions: Enter your answers as whole numbers. a.What will be the new level of consumption at the $680 billion level of disposable income
Answer: $632 billion
Explanation:
The wealth effect is such that a $10 change in wealth produces a $2 change in consumption. This means that for every change in wealth, we can expect a change of;
= 2/10
= 20 % of the wealth figure in consumption.
Real Estate prices have tumbled and prices decreased by $160.
That means that consumption decreased by;
= 160 * 20%
= $32
At the $680 billion level of disposable income, Consumption was $664 billion. The new Consumption figure is therefore;
= 664 - 32
= $632 billion
Arjun, a U.S. citizen, is a product manager who moved to Argentina to work at the South American office of Senlot Corporation, an American company. Based on this information, Arjun is a(n) ________ manager.
Answer:
The correct answer will be "Expatriate manger".
Explanation:
Expatriate managers may be described among those who don't seem country's citizens whereby they operate and were appointed due to various their advanced organizational skills but rather because of certain employment organization expertise.They support their businesses to develop international operations, reach international markets as well as transition expertise and competencies to business relationships of their corporations.So that Arjun is an Expatriate manger,
A coin collector treasures his 1969minusS doubled die obverse Lincoln cent because he found it in his pocket change, rather than purchasing it. He can sell it on the open market for $35,000, but would only sell it for at least twice that price, due to its sentimental value to him. It is anticipated that the coin will increase in market value in the foreseeable future. What is the value of the coin?
Answer:
$35,000
Explanation:
The value of the coin is equivalent to the selling price i.e $35,000
As it is mentioned in the question that coin would be sell in the open market instead of purchasing it
Since the coin is sold at the open market so the same is to be considered
And, therefore the value of the coin is $35,000
Hence, the first option is correct
A real estate office handles a 80-unit apartment complex. When the rent is $560 per month, all units are occupied. For each $45 increase in rent, however, an average of one unit becomes vacant. Each occupied unit requires an average of $50 per month for service and repairs. What rent should be charged to obtain a maximum profit
Answer:
$2,090 should be charged as rent to obtain maximum profit.
Explanation:
Let's assume x is the number of occupied apartment.
Therefore, the total rent the company is getting can be represented as;
{(560 + 45(80-x)}x-50x
Y=560x + 3600x - 45x^2 - 50x
Y=4110x - 45x^2
Y^'=(4110x - 45x^2)^'
Y=4110 - 90x
Y=0
4110-90x = 0
90x = 4110
x = 45.67
Rent is therefore;
560 + (80 - 46)45
=560 + 1530
=$2,090
$2,090 should be charged as rent to obtain maximum profit.
The calculation is as follows:
Let's us assume x is the number of occupied apartment.
The total rent the company can be expressed as {(560 + 45(80-x)}x-50x
Y=560x + 3600x - 45x^2 - 50x
Y=4110x - 45x^2
Y^'=(4110x - 45x^2)^'
Y=4110 - 90x
Y=0
4110-90x = 0
90x = 4110
x = 45.67
Rent is therefore;
560 + (80 - 46)45
=560 + 1530
=$2,090
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Honda’s BP program involves: a. A formalized approach for teaching the supplier to improve its own processes b. Tight control of suppliers c. Elimination of the bottom 10% of suppliers at the end of the program d. All of the above e. Only a and b
Answer:
a.
Explanation:
A BP Program or Best Practices Program is one that focuses on the process of reviewing different policy alternatives that have been proven to be effecting when dealing with certain issues in the past that have reoccurred in the present and applying them. Honda's unique BP program involves a formalized approach for teaching the supplier to improve its own processes in order for them not to have to outsource.
Bob and Alice want to remodel their bathroom in 4 years. They estimate the job will cost $35,000. How much must they invest now at an annual interest rate of 4% compounded quarterly to achieve their goal? The Morenos invest $9000 in an account that grows to $11,000 in 4 years. What is the annual interest rate r if interest is compounded
a. Quarterly
b. Continuously
A) a. 2.192% b.2.179%
B) a. 4.5432% b.4.5153%
C) a. 6.0576% b. 6.0204%
D) a. 5.048% b.5.017%
Answer:
Bob and Alice want to remodel their bathroom in 4 years. They estimate the job will cost $35,000. How much must they invest now at an annual interest rate of 4% compounded quarterly to achieve their goal?
we need to use the present value formula:
present value = future value / (1 + interest rate)ⁿ = $35,000 / (1 + 1%)¹⁶ = $29,848.74
The Morenos invest $9000 in an account that grows to $11,000 in 4 years. What is the annual interest rate r if interest is compounded
a. Quarterly
$9,000 = $11,000 / (1 + r)¹⁶
(1 + r)¹⁶ = $11,000 / $9,000 = 1.2222
¹⁶√(1 + r) = ¹⁶√1.2222
1 + r = 1.01262
r = 0.01262 = 1.26% ⇒ quarterly interest rate
annual interest rate = 1.26% x 4 = 5.048%
b. Continuously
future value = present value x eᵃⁿ
future value = $11,000present value = $9,000e = 2.718a = interest rate ???n = 4 years$11,000 = $9,000 x 2.718⁴ⁿ
2.718⁴ⁿ = $9,000 / $11,000 = 0.818181818
⁴√2.718⁴ⁿ = ⁴√0.818181818
2.718ⁿ = 0.95107
nlog2.718 = log0.95107
n 0.434249452 = -0.021787543
n = -0.021787543 / 0.434249452 = -0.05017, since n must be positive, then
n = 0.05017 = 5.017%
D) a. 5.048% b. 5.017%
g "Which philosophy in setting budgeted amounts assumes both the complete elimination of inefficiencies and a level of absolute efficiency?"
Answer:
The total quality management approach
Explanation:
This philosophy is the total quality management approach.
Total quality management has to do with the efforts to enforce and make sustainable climate where employees can continuous to improve their ability to provide on demand products and give those services that customers perceive to be of particular value when they demand for them.
Job 303 includes direct materials costs of $550 and direct labor costs of $400. If the predetermined overhead allocation rate is 40% of direct labor cost, what is the total cost assigned to Job 303
Answer:
180
Explanation: Divide 550 and 400 and equal 40% over x
2. Explain how advertising and sales practices fed consumer demand during the late 1800s. What were the specific tactics used
Answer with its Explanation:
In the 1800s, advertising was done in local newspapers and in a number of magazines. The cost of advertising in newspapers was very high in those days because the only source of communication with the public was newspaper and magazines.
The designing of copying and opting to art was very common in those days which was adopted to attract key customers and placement of the advertisements in a specific place which would result in higher sales was also common to attract customer attention.
The telephone was invented in 1876, but still telemarketing started in 1970s. So the primary source of advertising and sales promotions was either by newspaper and magazines or face to face selling.
Answer:
B. The way enslaved children were fed
Explanation:
The demand and supply for catnip are given by the following tables: Demand Price Quantity Supply Price Quantity $1.50/lb 2.00 2.50 3.00 3.50 4.00 10 lb 9 8 7 4 3 $1.50/lb 2.00 2.50 3.00 3.50 4.00 4 lb 5 6 7 10 11 What quantity is sold in equilibrium, and at what price
Answer:
7
$3
Explanation:
Equilibrium is the point where Quanitity supplied equals quantity demanded. The price at this point is known as the equilibrium price and the Quanitity at this point is known as equilibrium Quanitity.
Quanitity demanded is equal to Quanitity supplied at 7 units. Price at this point is $3
Please check the attached image for a clearer image of this question.
I hope my answer helps you
Answer:
What that guy said above me
Explanation:
Assume a companys income statefor year 9 is as follows:
Year 9
Income Statement Data in 000s
Total Revenues $650,000
Cost of Goods Sold 380,000
Delivery Costs 45,000
Marketing Costs 53,000
Administrative Expenses 11,000
Operating Profit (Loss) 161,000
Other Income (Expense) 2,600
Interest Income (Expense) 10,800
Pre-tax Profit (Loss) 147,600
Income Taxes 44,280
Net Profit (Loss) $103,320
Based on the above income statement data the companys interestcoverate ratio is:_______.
a. 14.91 and 20.2%.
b. 13.67 and 15.9%.
c. 16.71 and 23.3%.
d. 17.22 and 24.6%.
e. 19.29 and 21.4%.
Answer:
14.91 and 24.77%
Explanation:
The computation of the company interest coverage ratio is shown below:-
Interest coverage ratio = Earning before interest and tax ÷ Interest
= $161,000 ÷ $10,800
= 14.91
Operating profit margin = (Earning before interest and tax ÷ Revenue) × 100
= $161,000 ÷ $650,000 × 100
= 24.77%
Therefore we have applied the above formula and hence option is not available.
Explain the provisions of section 302 of the Sarbanes-Oxley Act including obligations of officers; nature and scope of assertions; accounting requirements; and legal liability of officers.
Answer:
"Section 302 of the Sarbanes-Oxley Act states that the CEO and CFO are directly responsible for the accuracy, documentation and submission of all financial reports as well as the internal control structure to the SEC," according to sarbanes-oxley-101.com. So, Section 302 is essentially about the responsibilities of principal officers of the company, especially the principal executive and financial officers.
1. Obligations of officers: To certify each annual and quarterly report. To ensure that the issued financial statements and other financial information are not misleading. To ensure that the information is fairly presented.
2. Nature and Scope of Assertions:
a) That the information presented are fairly presented with no misleading statements
b) That the internal controls are in place and operating effectively
c) To asset that they are aware of all material information relating to the issuing company
d) That they have evaluated internal controls, their effectiveness, and changes in controls.
3. Accounting requirements:
a) Ensure effective internal accounting controls
b) Disclose all material financial information to auditors and audit committee
c) File periodic reports to SEC in compliance with section 13(a) and 15(d) of the SEC Act of 1934.
4. Legal liability of officers: This is covered in Section 906 of the Sarbanes-Oxley Act. The section prescribes that officers are liable for "penalties upward of $5 million in fines and 20 years in prison" for any violation of the Act.
Explanation:
The Sarbanes-Oxley Act of 2002 is a federal law which was made in response to the accounting scandals following the collapse of Worldcom and Enron. The purpose of the Act was to safeguard shareholders, employees, and the public from accounting errors and fraudulent financial practices by listed companies. According to sarbanes-oxley-101.com, the Act requires "all financial reports to include an Internal Controls Report," to prove the accuracy and adequacy of controls for ensuring that financial information is not misleading.
In the United States banking policies and procedures are set by the:
-president
-senate
-House of representatives
-federal reserve
Answer:
Federal Reserve.
Explanation:
Federal Reserve is a large central bank in Washington, D.C. that was founded in 1913. It lends money to other, smaller banks.
Inventory records for Dunbar Incorporated revealed the following: Date Transaction Number of Units Unit Cost Apr. 1 Beginning inventory 470 $ 2.37 Apr. 20 Purchase 410 2.72 Dunbar sold 580 units of inventory during the month. Ending inventory assuming FIFO would be:
Answer:
Ending inventory= $816
Explanation:
Giving the following information:
Apr. 1 Beginning inventory 470 $2.37
Apr. 20 Purchase 410 $2.72
Dunbar sold 580 units of inventory during the month.
To calculate the ending inventory under the FIFO (first-in, first-out) method, we need to use the cost of the last units incorporated into inventory.
Units in ending inventory= 880 - 580= 300
Ending inventory= 300*2.72= $816
Mark recently graduated with honors from his college. He has bragged to his friends that his academic performance has prepared him so well for a successful career that he can forget school or training in his future. In evaluating the future of the workplace, Mark is:_______.
a. exactly right. His past performance should carry him to success.
b. completely wrong. Studies show that a college education has little to do with success.
c. over confident. Global competition means that continuous learning will be needed in the future to adapt to rapid changes. probably right.
d. probably right. Specialized training today is a key to continued success in the future.
Watters Umbrella Corp. issued 20-year bonds 2 years ago at a coupon rate of 6.4 percent. The bonds make semiannual payments. If these bonds currently sell for 110 percent of par value, what is the YTM
Answer:
2.78%
Explanation:
The YTM formula is:
YTM = {coupon + [(face value - market value)/n]} / [(face value + market value)/2]
coupon = $32face value = $1,000market value = $1,000 x 110 = $1,100n = 18 x 2 = 36YTM = {$32 + [($1,000 - $1,100)/36]} / [($1,000 + $1,100)/2] = $29.222 / $1,050 = 2.78%
The Internet helps consumers make well-informed decisions because of
which of the following?
O A. It speeds up the pace of both production and consumption
B. It provides the information that is crucial for making good choices
O O
O c. Private financial information can be handled more securely.
D. E-commerce makes it more convenient to purchase goods.
Answer:
B. It provides the information that is crucial for making good choices
Explanation:
The internet is mainly a worldwide network where information flows between all the participants (internet users). For this reason, the Internet has a great flow of information about consumer goods that individuals use to make well-informed purchase decisions.
Answer: The answer is B. or "It provides the information that is crucial for making good choices."
Explanation: It took the test or at least a very similar test.
identify this financial statement: which financial statement would best display a companys plant propery and equipment use in their factory everyday to help generate a slaes revenue
Answer: C) Balance Sheet
Explanation:
The Plant, Property and Equipment (PPE) that a company owns are reported in the Balance Sheet under Fixed Assets.
These Assets are considered investments because of their long term use and they help a company in generating it's sales Revenue.
They are also depreciated as well to account for the period they are in action and are usually recorded in the Balance Sheet at their Net amounts (depreciated amounts).
A good manager can be flexible when it comes to sticking to the original plan; to get good results, the intended strategy has to become the realized strategy.
a. True
b. False
Answer:
False
Explanation:
Hope this helps my loves :)
McCarthy Company has inventory... McCarthy Company has inventory of 8 units at a cost of $200 each on October 1. On October 2, it purchased 20 units at $205 each. 11 units are sold on October 4. Using the FIFO perpetual inventory method, what is the value of inventory after the October 4 sale
Answer:
Ending inventory= $3,485
Explanation:
Giving the following information:
Beginning inventory= 8 units for $200 each
On October 2= purchased 20 units at $205 each.
11 units are sold on October 4.
under the FIFO (first-in, first-out) inventory method, the ending inventory is calculated using the cost of the last units incorporated into inventory.
Ending inventory= 17*205= $3,485
Nordstrom, Inc. operates department stores in numerous states. Suppose selected financial statement data (in millions) for 2014 are presented below.
End of Year Beginning of Year
Cash and cash equivalents $ 795 $ 72
Accounts receivable (net) 2,035 1,942
Inventory 898 900
Other current assets 326 303
Total current assets $4,054 $3,217
Total current liabilities $2,014 $1,601
For the year, net credit sales were $8,258 million, cost of goods sold was $5,328 million, and net cash provided by operating activities was $1,251 million.
Instructions:
Compute the current ratio, current cash debt coverage, accounts receivable turnover, average collection period, inventory turnover, and days in inventory at the end of the current year.
Answer:Please see explanation for answers
Explanation:
A) Current Ratio = Current Assets / Current Liabilities
Total Current Assets = $4,054million
Total Current Liabilities = $2,014million
Current Ratio = 4,054 / 2,014 = 2.01 : 1
B. Current Cash Debt Coverage Ratio = Cash flow Provided by Operating Activities / Average Current Liabilities
Average Current Liabilities = 2,014 + 1,601= 3,615 / 2 = $1,807.5
Current Cash Debt Coverage Ratio = 1,251 / 1,807.5 = 0.6921
C. Accounts receivable Turnover = Net Sales / Average Accounts Receivables
Average Account Receivable = 2,035 + 1,942= 3,977 / 2 = $1,988.50million
Net Sales = $8,258million
Account Receivable Turnover = 8,258million / 1,988.50million = 4.15 Times
D. Average Collection Period: 365 / Account Receivable Turnover
Average Collection Period = 365 / 4.15 = 87.95 Days
E. Inventory Turnover = Cost of Goods Sold / Average Inventory
Cost of Goods Sold = 5,328million ,
Average Inventory = 898 + 900 =1,798 / 2 = 899
Inventory Turnover = 5,328 / 899 = 5.93 Times
F. Days in Inventory = 365 / Inventory Turnover Ratio
Days in Inventory = 365 / 5.93 = 61.55 Days
Jose Ruiz manages a car dealer’s service department. His department is organized as a cost center. Costs for a recent quarter are shown below. Cost of parts $ 22,400 Mechanics’ wages 14,300 Manager’s salary 8,000 Building depreciation (allocated) 4,500 Shop supplies 1,200 Utilities (allocated) 800 Administrative costs (allocated) 2,200 Calculate the total costs that would appear on a responsibility accounting report for the service department.
Answer: Total Cost = $37,900
Explanation:
Responsibility accounting refers to a system where managers of different departments in a company are responsible and held accountable for the management of the controllable costs in their department.
Here the controllable costs on the manager, Jose Ruiz are Cost of parts, the Mechanics wages and Shop supplies.
Calculating the total costs that would appear on a responsibility accounting for the service department would be :
Particulars Amount
Cost of parts $22,400
Mechanics’ wages $14,300
Shop supplies $1,200
Total Cost $37,900
You have an opportunity to invest in Australia at an interest rate of 8%. Moreover, you expect the Australian dollar (A$) to appreciate by 2%. Your effective return from this investment is
Answer:
10.16%
Explanation:
The computation of the effective return for this investment is shown below:
Let us assume that we invested an amount in Australian dollars 100
The return is 8%
After one year, the amount is 108
Now the converting amount is 110.16 (108 × 102%)
Now the effective rate for this investment is
= 110.16 - 100
= 10.16%
In order to find the future worth, F, from a present amount, P, 5 years from now at an interest rate of 6 % per year, compounded quarterly, what interest rate must be used in the F/P factor, (F/P,i%,n), when n is 20 quarters
Answer:
Interest rate = 1.5%
Explanation:
Given:
Future value = F
Present value = P
Number of Year (n) = 5 year × 4 quarters = 20
Interest rate = 6 % per year = 6 / 4 = 1.5% = 0.015
Computation:
Future value = Present value[tex](1+i)^n[/tex]
F/P = (1+0.015)²⁰
F/P = 1.34685501
When n = 20 quarters
F/P = (1+i)²⁰
1.34685501 = (1+i)²⁰
i = 0.015
Interest rate = 1.5%
Mitch likes his coworkers, thinks his pay is fair, and appreciates the interesting assignments his boss gives him, so Mitch is likely to have high A. emotional stability, B. self-management, C. self-awareness, D. job satisfaction
Answer:
D. job satisfaction
Explanation:
Job satisfaction measures how contented a staff is with his job. It measures how the employee feels about his job.
Mitch likes his job, his co workers and his salary. Mitch is likely to have a high job satisfaction
I hope my answer helps you
15. Magic Inc. has a DSO of 35 days, and its annual sales are $4,000,000. What is its accounts receivable balance
Answer:
$383,565
Explanation:
For the computation of accounts receivable balance first we need to find out the number of days which is shown below:-
Number of a day = Sales ÷ Number of days in a year
= $4,000,000 ÷ 365
= $10,959
Now
Accounts receivable balance
= Days × Number of day s
= 35 × $10,959
= $383,565
Therefore for computing the accounts receivable balance we simply applied the above formula.
Here we assume the number of days in a year is 365
Seashore Home provides house-sitting for people while they are away on vacation. Some of its customers pay immediately after the job is finished. Some customers ask that the business send them a bill. As of the end of the year, Seashore Home has collected $3,200 from cash-paying customers. Seashore Home’s remaining customers owe the business $1,380. Seashore Home recorded $3,200 of service revenue for the year.
If Seashore Home had recorded their service revenue using the other method, how much service revenue would they have recorded for the year?
Answer:
$4,580
Explanation:
Cash method:
Currently, Seashore is recording revenue on a cash basis and recorded $3,200 from the customers.
Accrual Method(Other Method)
So r\the revenue recorded by seashore using the accrual method would be the sum of both cash and credit customers.
Revenue = $3,200 + $1,380
Revenue = $4,580