The cash balance at the end of the year is $11,000.
What is the cash balance at year's end?The Opening Balance is the sum of money available at the beginning of the month (1st day of the month). The amount of money on hand at the month's end is known as the closing balance (the last day of the month). Using the equation below, the closing balance is determined.
The closing balance is equal to the opening balance plus the total income minus the total expenses. You will have the same amount of cash at the conclusion of one accounting period as you will at the start of the subsequent period. You should have $5,000 at the start of January if your cash balance at the end of December was $5,000.
Given:
Cash generated during the year = Cash inflow - Cash Outflow
Cash generated during the year = ($12,000+2,000) - 7,000 = $7,000
Given:
Cash balance at the end of the year = Opening cash balance + Cash generated during the year
So by putting values, we have:
Cash balance at the end of the year = $4,000 + $7,000 = $11,000
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you want to have $35,000 in cash to buy a car 4 years from today. you expect to earn 8 percent, compounded annually, on your savings. how much do you need to deposit today i
Given
Total =$35,000 ,tenure=4, rate=8
Principal = 35,000 / 1.36048896
Principal = 25,726.04
In order to have 35,000 in four years, you would need to deposit $25,762.04 at an interest rate of 8%.
How do you define "deposit"?A deposit is the act of giving money (or money equivalents) to an organization, most frequently a bank or other financial institution. The deposit is a credit for the party that made it (individually or as a group), and it can be refunded (withdrawn) in line with the conditions set forth at the time of deposit, transferred to another party, or applied to a future purchase.
The primary source of funding for banks is typically deposits.
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police power is the right of government to . a. make reasonable rules for the use of land b. assume ownership of property when taxes have not been paid c. take private property for public use d. assume ownership of property when the owner dies without a valid will and without heirs
Police brutality is the government's right to take ownership of property when taxes are not paid. Excessive police crackdowns on violence qualify as compensable expropriation of property.
What are police powers? :The inherent power of a government to exercise reasonable control over persons and property within its jurisdiction in the interest of public safety, health, security, morality and welfare, except where prohibited by law. Example: Police powers include arrest powers, search of persons and property, disturbances, orders to move, arrest of intoxicated persons, and seizure of goods.There are the four police powers: Think PETE, which stands for Police Power, Eminent Domain, Taxation, and Escheat.What is Police Violence in Local Government?Police power is the natural prerogative of a sovereign government. Make laws, make ordinances, and take measures to protect and preserve. Promote public health, safety and welfare.
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often wages of workers with the same skill but employed in different jobs differ because the characteristics of the jobs differ. this is an example of: group of answer choices discrimination. market failure. a compensating wage differential. bad managerial practices.
Often, the wages of workers with the same skill but employed in different jobs differ because the characteristics of the jobs differ, this is an example of compensating wage. The Option C is correct.
What is a compensating wage?Also called a wage differential, in labour economics, is used to analyze the relation between the wage rate and the unpleasantness, risk, or other undesirable attributes of a particular job.
The difference in wage means the additional amount of income that a given worker must be offered in order to motivate them to accept a given undesirable job, relative to other jobs that worker could perform.
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Job Costs Using a Plantwide Overhead Rate
Perrin Company designs industrial prototypes for outside companies. Budgeted overhead for the year was $385,000, and budgeted direct labor hours were 22,000. The average wage rate for direct labor is expected to be $35 per hour. During June, Perrin Company worked on four jobs. Data relating to these four jobs follow:
Job 39 Job 40 Job 41 Job 42
Beginning balance $23,300 $32,700 $15,000 $1,700
Materials requisitioned 18,600 20,800 10,500 15,800
Direct labor cost 9,700 17,900 5,150 6,700
Overhead is assigned as a percentage of direct labor cost. During June, Jobs 39 and 40 were completed; Job 39 was sold at 115 percent of cost. Job 40 is the only job in Finished Goods Inventory and will remain there until the customer accepts delivery and pays. Jobs 41 and 42 remain unfinished at the end of the month.
Required:
1. Calculate the balance in Work in Process as of June 30.
$fill in the blank 1
2. Calculate the balance in Finished Goods as of June 30.
$fill in the blank 2
3. Calculate the cost of goods sold for June.
$fill in the blank 3
4. Calculate the price charged for Job 39. Round your answer to two decimal places.
$fill in the blank 4
5. What if the customer for Job 40 was able to pay for the job by June 30? What would happen to the balance in Finished Goods?
Finished Goods would decrease
What would happen to the balance of Cost of Goods Sold?
Cost of Goods Sold would increase
A Begining Balance 15,000 1,700
B Material Requisitioned 10,500 15,800
C Direct labour cost 5,150 6,700
D= C x 50% Overhead Cost 2,575 3,350
Work in Progress cost 33,225 27,550
Total Work in Progress to be shown as on 30th June = 33,225 + 27,550 = 60,775.
Work or labor (or labour in British English) is intentional activity people perform to support the needs and wants of themselves, others, or a wider community.[1] In the context of economics, work can be viewed as the human activity that contributes (along with other factors of production) towards the goods and services within an economy.[2]
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The ability to identify errors before htey occur recycles scrap material, improves downstream inspections, and will promote profitability
a. True
b. False
The aforementioned claim is False. Profitability will undoubtedly not increase even if faults can be detected early on. This does not recycle waste material and does not improve downstream inspections.
Building a system to manage errorsThe development and execution of an error management system assumes that the executive management is fully on board with this project's plan to handle problems consistently. This is not always the case in reality because many business policies are involved and there may be good reasons to ignore some inaccuracies (e.g. because restructuring is pending).
How do companies deal with mistakes?Recognize Your Errors: The initial step is to own up to your error and accept responsibility.
Examine What Went Wrong: After you own up to your error, consider what went wrong. Examine the past to determine how the situation might have been handled differently.
Fix the Problem and Move Forward: After you've admitted your error and comprehended how it was made, it's time to resolve the issue at hand and move on.
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TRUE/FALSE one argument in favor of activist monetary policy is that the economy does not always equilibrate quickly enough at natural real gdp.
The economy does not always equilibrate at Natural Real GDP rapidly enough, which is one reason in favor of activist monetary policy.
What distinguishes activist from non-activist rule-based monetary policy?Non-activist (rule-based) monetary policy is not flexible, in contrast to activist policy. those who make the case against the intentional use of discretionary fiscal and monetary measures. They support a long-term, dependable, and fiscally regulated structure.
Interest rates in the economy, such as those for mortgages, business loans, and savings accounts, are influenced by monetary policy. Interest rate changes have an impact on how people choose to invest or spend their money, which ultimately has an impact on inflation, economic growth, and employment.
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which colormap would be best to use to show geographic regions that where sales increased or decreased by various amounts? diverging qualitative black and white sequential
a) Diverging colormap would be best to use to show geographic regions where sales increased or decreased by various amounts.
In the field of social studies, a colormap can be described as a map that varies in graphics to show features such as sales, projects, images, etc of a place.
A diverging colormap is used by people in a business to understand the sales and marketing of a specific geographic location.
Any sales that are increasing in this region is shown in grey color and any region that has decreasing sale is shown in white color.
A diverging colormap helps in estimating the sales of a product that can be made in an area.
The question will correctly be written as:
Which colormap would be best to use to show geographic regions that where sales increased or decreased by various amounts?
a) diverging
b) qualitative black
c) white sequential
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the project management institute (pmi) administers a globally recognized, examination-based professional certification program. how many levels are there?
A professional certification program with two levels is administered by the project management institute (PMI) and is widely recognized.
Managing a team's work to fulfil all project goals within the given constraints is the process of project management. These details are often described in the project documentation that is created at the beginning of the development process. Budget, time, and scope are the three basic constraints.
In other words, project management's mission is to efficiently organize and supervise a project such that its stated goals and deliverables are fulfilled. A project's purpose is the anticipated outcome of the endeavour. They are broad statements that give you a general idea of what the project will accomplish.
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Organizational socialization This is the first phase of socialization, which encompasses two key concerns: realism and congruence. Anticipatory socialization / Change and acquisition / Encounter
This is the first phase of socialization, which encompasses two key concerns: Change and acquisition. There are three main stages to socialisation. The school, peer groups, and media all have an impact on secondary socialisation.
Parenthood, marriage, and employment all have an impact on how people socialise as adults. Primary socialisation acquisition in the formative years of childhood and socialization. An individual's essential identity is formed at this time. A person undergoes secondary socialisation throughout their life, both as a youngster and as they interact with new groups. Usually, this procedure involves two steps: From infancy through puberty, a person is socialised on a primary level, and on a secondary level throughout their entire life.
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the earned income tax credit, a government program that supplements the incomes of low-wage workers, is an example of a
The earned income tax credit, a government program that supplements the incomes of low-wage workers, is an example of a wage subsidy. An incentive provided by the government to people or organisations in the form of money, grants, or tax breaks.
In order to increase the supply of particular goods and services is known as a subsidy. Consumers can get cheaper goods and commodities thanks to subsidies tax. The Wage Subsidy Scheme offers subsidies to qualified employers to assist in income an employee's salaries during their initial few months of employment. Through work, the programme assists people with disabilities in developing their skills and expertise.
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in most states, the seller of a new house warrants that it is fit for habitation even if the deed does not include such a warranty. true false
If a vendor is aware of or ought to be aware of the exact justification a customer is buying a certain item, an implied the appropriateness for a particular application is guaranteed. The buyer is then certain that the item is appropriate for that specific application.
A general warranty deed is used to transfer title from the seller to the buyer.The level of ownership interest transferred to the buyer in the habendum is defined by the seller. Habendum is a crucial idea in property and real estate negotiations. It might also be used to other lease and deed-related transactions, such those in the energy industry. In a contract, a habendum clause deals with the rights, interests, and other aspects of ownership that are transferred to the other party. It outlines the type of right and its term in situations when rights are transferred, such as in connection to a coal mine.
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on june 8, williams company issued an $80,000, 5%, 120-day note payable to brown industries. assuming a 360-day year, what is the maturity value of the note? a.$88,200
Option b. 81333 is the correct answer. The maturity value of the note is $81,333
There are multiple accounting concepts discussed in the multiple-choice questions below. A short-term note payable is a current liability that bears interest and is presented on the balance sheet as a liability. Payroll taxes that are the employer's responsibility are presented as an expense on the income statement but payroll taxes that are the employee's responsibility and are merely withheld from an employee's check by a company are presented as a current liability until remitted.
[tex]\$80,000 * 0.05 * (120 / 360) = $1,333\[/tex]
[tex]\$80,000 + $1,333 = $81,333\[/tex]
The maturity value of a note payable is the value at the end of the note with interest included. Since the note is 120 days then the interest needs to be calculated by dividing the 120 days by 360 days since the 5% interest is based on an annual rate.
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Cainas Cookies declares a $10,000 on 10/1/19 for all shareholders of record on 10/31/19, to be paid on 12/31/19. Journal entries are required on: a. 10/1/19 b. 10/1/19 and 10/31/19 c. 10/1/19 and 12/31/19 d. 10/1/19, 10/31/19 and 12/31/19
According to the question Debit: Retained earnings (Dividends) and Credit: Dividends Payable.
What is a debit and credit?
Debits and credits indicate where value is flowing into and out of a business. They must be equal to keep a company's books in balance. Debits increase the value of asset, expense and loss accounts. Credits increase the value of liability, equity, revenue and gain accounts.
What are the 5 rules of debit and credit?
Rules of Debits and Credits: Assets are increased by debits and decreased by credits. Liabilities are increased by credits and decreased by debits. Equity accounts are increased by credits and decreased by debits. Revenues are increased by credits and decreased by debits.
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3. how much do i need to save a month if i would like to take a trip that would cost about $4000 if i am depositing the money into an account making 2.3% compounded monthly.
a covered entity creates a process that ensures that data it receives and transmits is correct and in the same state it was before the transaction. what kind of technical safeguard is this considered to be?
A covered entity that creates a process to ensure the fact that the data received and transmitted is correct and in the same state as before the transaction, it is regarded as an integrity control method of technical safeguard.
Integrity control can be referred to or considered as a security system, which is used to create a sense of confidence in maintenance of correctness of the data. This method or system also ensures that there is no change in the state of the data before and after the transmission of the data has been done.
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which of the following is a channel partner that provides a distribution outlet or link for a company's products and services?
Transactional is a channel partner that provides a distribution outlet or link for a company's products and services.
A channel partner is a business that collaborates with another organization to advertise or sell its services, goods, or technology, such as a reseller, service provider, vendor, retailer, or agent.
To put it briefly, channel partners can offer a quick route to profitability when entering new markets. They increase your total brand recognition among new audiences, which subsequently helps your direct sales.
Value-added resellers (VARs), systems integrators, consultants, managed service providers (MSPs), first-party hardware vendors (OEMs), distributors, and independent software suppliers are examples of channel partners.
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Milton corporation gives the preferred stockholders an annual dividend of $5 per share. Each share of stock sells for $100 and selling costs of $3. What is the company's cost of preferred stock? (round the answer to two decimal places. ).
The Milton corporation's cost of preferred stock would be 5.2%.
What is the preferred stock?A component of share capital known as preferred stock is often regarded as a hybrid instrument since it might have any combination of characteristics that common stock does not, including characteristics of both an equity and a debt instrument.
Computation of cost of preferred stock:
According to the given information,
Annual dividend per share = $5
Selling price of preferred stock = $100
Flotation cost per share = $3
By using the concept of flotation cost, The Company's cost of preferred stock:
Cost of Preferred Stock = Dividend per share/(Selling price—Flotation cost per share)
Cost of Preferred Stock = $5/($100 – $3)
Cost of Preferred Stock = $5/$97
Cost of Preferred Stock = 0.052
Cost of Preferred Stock= 5.2%
The price of preferred shares will be $5 per $100, or 0.05 percent, if the cost of floating was not incurred during the present period.
Therefore, The cost of preferred shares for Milton Corporation would be 5.2%.
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refer to exhibit 23-2. what quantity of output does the profit-maximizing (or loss-minimizing) firm produce? group of answer choices q1, where marginal cost is less than marginal revenue. q2, where marginal cost is equal to marginal revenue. q3, where marginal cost is greater than marginal revenue. q4, which maximizes the difference between marginal cost and marginal revenue.
Q2, where marginal cost is equal to marginal revenue here the market is in equilibrium.
When market supply and demand are in balance, prices become steady. This is known as equilibrium. In general, a surplus of goods or services leads to lower prices, which increases demand, whereas a shortfall or undersupply raises prices, which decreases demand.
The market mechanism is the propensity to move toward equilibrium prices, and the resulting equilibrium between supply and demand is referred to as the market equilibrium. The price mechanism in a free market equalizes supply and demand. Buyers will typically bid the price higher if they want to buy more of a good than is offered at the going rate. Suppliers will lower their pricing if they want to buy less than what is offered at the going rate. Thus, the price mechanism determines how many units of a good will be produced.
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on december 1, watson enterprises signed a $24,000, 60-day, 5% note payable as replacement of an account payable with erikson company. what amount of interest expense is accrued at december 31 on the note? (use 360 days a year.)
Debit Accounts Payable $24,000; Credit Notes Payable $24,000.
What do you mean by a credit note?When the taxable value declared by the provider in the tax invoice exceeds the actual taxable value of the goods or services supplied, a credit note is given. For instance, if a product with a Rs. 100 initial price is mistakenly billed at Rs. 150, a Rs.
How do you calculate the interest expense accrued?Multiplying a company's total debt by the average interest rate on its debts yields the most straightforward way to determine interest expenditure. If a corporation owes $100 million at an average interest rate of 5%, its interest expense would be equal to $5 million ($100 million x 0.05).
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preset costs for delivering a product or service under normal conditions are called: multiple choice fixed costs. variable costs. product costs. period costs. standard costs.
preset costs for delivering a product or service under normal conditions are called Standard Cost.
Standard CostingThe process of creating projected (i.e., standard) costs for certain or all operations inside a corporation is known as standard costing. The main rationale for utilizing standard costs is that it is too time-consuming to gather real costs in a lot of applications, thus standard costs are utilized as a near approximation to actual costs.
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oornima recently graduated from college and is updating the capabilities and skills section of her résumé. what will recruiters look for in this section of poornima’s résumé?
Recruiters will look for the following skills in her resume like computer skills, programming languages, social media, and enterprise software, Problem-solving skills.
A resume, also known as a curriculum vitae (CV), is a record made and utilized by a person to describe their educational history, professional experience, and accomplishments. Although there are several uses for resumes, the most common one is finding new work. A "summary" of relevant work experience and education may be included on most resumes.
When a potential employer is screening applications, the CV is normally one of the first things they will read about the job seeker, along with a cover letter, perhaps an application for employment, and is frequently followed by an interview. A CV is frequently replaced by biodata in South Asian nations including India, Pakistan, and Bangladesh.
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sushil is the director of human resources, and is meeting with several division level managers to plan staffing for the new product launch. which type of team is sushil a part of?
The director of human resources, Sushil, is meeting with a number of managers at the divisional level to plan staffing for the introduction of the new product. He is a member of the team that solves problems.
The group of individuals who work for a given organization, business sector, industry, or economy is referred to as its human resources. Human capital, or the knowledge and abilities that people possess, is a more specific concept.
Human resources can be used to develop, reinforce, or change an organization's culture. HR is responsible for many crucial aspects of business culture, including compensation, performance management and so on.
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rahim is looking for ways to increase communication with customers through his company's website. which of the following would be most helpful?
Adding an instant messaging function would be most helpful.
Applications for IBM® Informix® can exchange data directly with WebSphere® MQ thanks to MQ messaging features.
The stack size for all MQ messaging routines is 64K. These MQ messaging functions should have an explicit or implicit transactional context and can be used within SQL statements.
The only servers that can be used to activate any MQ messaging functions or MQ messaging-based VTI tables are local (sub-ordinator) servers. On a remote server, using MQ messaging functions or MQ messaging-based VTI tables will result in an error. When Informix is taking part as a resource manager in an externally managed global XA transaction, MQ messaging services cannot be used.
The "Informix" is used by MQ messaging functions.
If the optional policy and service parameters are not used, the mqi* service and policy tables will supply default settings.
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when selling the product requires a long selling cycle with a few large sates and considerable time to develop relationships, the compensation system should
When selling the product requires a long selling cycle with a few large sates and considerable time to develop relationships, the compensation system should securing and keeping sales representatives.
What is compensation?
The phrase "compensation" describes something that is provided to a person in exchange for property lost or for injuries sustained on the job. They may be in the form of monetary or intangible remuneration. Employee motivation and productive work are greatly influenced by compensation,
Bonuses, commissions, overtime pay, profit sharing, stock options, and other monetary types of remuneration are examples. Retirement and employment services, health insurance, paid time off, paid holidays, and pension plans are a few examples of non-financial kinds of compensation. Every business requires a pay plan to organise and strategize how they can entice and keep top people while also allowing them to budget effectively.
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government's efforts to stabilize the business cycle through fiscal policy can destabilize the economy due to the presence of:
Government's efforts to stabilize the business cycle through fiscal policy can destabilize the economy due to the presence of:
Business cycles that are closely synchronized to the political cycle.
A different theory known as the political business cycle proposes that after being elected, a government of whatever hue first employs a contractionary policy to reduce inflation and build a reputation for economic competence.
Political business cycle logical preference for short-term political issues over macroeconomic considerations when forming economic policy may also have an influence on general monetary and fiscal policy. Politicians will make an effort to raise the natural or equilibrium rate of employment. As a result, inflation and interest rates will be higher than required. Short-term results of expansionary monetary and fiscal policy include decreased unemployment, economic growth, and advantages from higher government expenditure on public services.
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if it is possible for a perfectly competitive firm to do better financially by producing rather than shutting down, then it should produce the amount of output at which:
Even when a competitive firm has the option of continuing to operate rather than closing, it should do so at the output level where MR = MC.
How can you tell if a business is competitive?A firm inside a market that is competitive is one where there are many of buyers and sellers, lots of similar products being supplied by different vendors, and usually free entry and exit for firms. Figure 2 displays the expense curves for an average firm.
What distinguishes a company from its competitors?A comparative edge is something that gives a business an edge over rivals, enabling it to get more clients and expand its market share. There are three main ways to gain a competitive advantage: Cost advantage refers to manufacturing a good or offering a service for a lower price than rivals.
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if considering international sourcing alternatives, it is important that the decision makers develop a complete understanding of the costs involved with .
It is important that the decision makers develop a complete understanding of the costs involved with ensuring compliance with governmental laws, regulations, and even local business customs.
They take sensible decisions after considering all of their options and the repercussions. Your capacity to choose wisely among several options is demonstrated by your decision-making abilities. Making wise selections as a worker can enable you to forward the objectives of your business. You can make wise selections once you apply these abilities to evaluate all the facts at your disposal and identify any prejudice. Making decisions is crucial since it allows you to select from a variety of possibilities.
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3. think about zara's sourcing (procurement) decisions. what issues would you consider in deciding whether to produce a garment locally (in spain) or outsource it (to china)?
by zara's sourcing (procurement) decisions ,Employment would be a major consideration. Local garment sourcing will increase local job opportunities and can help the national economy.
Zara's product sourcing method is very different from traditional fashion industry methods because the company controls every step of the supply chain. Instead of hiring an outside designer, the company employs 300 in-house designers and heavily relies on store managers for input. Sourcing is an upstream component of the supply chain: it is the process of strategically selecting the services and goods that a company requires to run its operations. Sourcing is also the act of purchasing goods, which includes seller selection, contract negotiation, and measuring your suppliers' long-term performance.
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For a certain firm, the marginal revenue product for the last unit of labor is $60, and the marginal revenue product for the last unit of capital is $100. Which of the following combinations of factor prices would be necessary for the firm to maximize profits?
Price of Labor Price of Capital
a) $2 $5
b) $3 $20
c) $10 $10
d) $2 $25
e) $60 $100
Option E is the correct answer. A combination of $60 and $100 will be used to maximize profits.
In the question, it is stated that the marginal revenue product of a firm for the last unit of labor is $60. Also, the marginal revenue product for the last unit of Capital is $100. Then a combination of the price of labor as $60 and the price of capital as $100 would be necessary prices to maximize profits.
Marginal Revenue can be described as the increase in revenue that results from the sale of one additional unit of output to the sales.
Hence, the correct answer is Option E.
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If the economy is experiencing less than full-employment, the keynesian model recommends that the government.
Answer:
!
Explanation: