Answer:
April 1
Debit : Patent $1,500,000
Credit : Cash $1,500,000
December 31
Debit : Amortization $125,000
Credit : Accumulated Amortization $125,000
December 31
Debit : Impairment loss $6,000,000
Credit : Accumulated Impairment loss $6,000,000
Explanation:
Both the Amortization and Impairment loss reduce the value of assets. They are therefore expenses accounted in Income Statement.
Amortization : is the loss of value of an asset due to passage of time.
Amortization Expense = (Cost - Residual Amount) ÷ Useful Life
= ( $1,500,000 - $ 0) ÷ 12
= $125,000
Impairment loss : is the excess of the Carrying Amount of an Asset over its Recoverable Amount( Higher of Value in Use and Fair Value less Cost to Sell)
Filter Systems produces air filters for domestic and foreign cars. One filter, part number JJ39877, is supplied on an exclusive contract basis to Oil Changers at a constant 200 units monthly. Filter Systems can produce this filter at a rate of 50 per hour. Setup time to change the settings on the equipment is 1.5 hours. Worker time (including overhead) is charged at the rate of $55 per hour, and plant idle time during setups is estimated to cost the firm $100 per hour in lost profit.
Filter Systems has established a 22 percent annual interest charge for determining holding cost. Each filter costs the company $2.50 to produce; they are sold for $5.50 each to Oil Changers. Assume 6-hour days, 20 working days per month, and 12 months per year for your calculations.
Required:
a. How many JJ39877 filters should Filter Systems produce in each production run of this particular part to minimize annual holding and setup costs?
b. Assuming that it produces the optimal number of filters in each run, what is the maximum level of on-hand inventory of these filters that the firm has at any point in time?
c. What percentage of the working time does the company produce these particular filters, assuming that the policy in part (a) is used?
Answer:
a. EOQ = 1449 units are the optimal number of units of Filters to be produced.
b. I = 1400.7 units is the maximum level of on hand inventory any time.
c. Portion of Uptime = 3.3%
Explanation:
Solution:
a.
First of we need to find out the total demand of the filters per year.
D = Demand
D = 200 x 12
Total Demand per year D = 2400 units per year.
Secondly, we need to calculate the production capacity by using the following formula:
PC = Rate of the Production x months in a year x working hours x working days.
PC = 50 x 12 x 6 x 20
PC = 7200 units is the production capacity for a year.
Thirdly, we need to calculate the holding cost by using the following formula:
Holding Cost = Annual interest rate x Production cost per unit.
HC = 0.22 x 2.50
HC = 0.55 is the holding cost
Now, we need to find the modified holding cost as well by using the following formula:
HC' = HC(1- [tex]\frac{D}{PC}[/tex])
Where,
D = Total Demand
PC = Production Capacity per year.
Just Plugging in the values, we get:
HC' = 0.55 x (1 - [tex]\frac{2400}{72000}[/tex] )
HC' = 0.5317 USD per unit.
Finally, for part a, we need to find the Economic Order Quantity, by using the formula:
EOQ = [tex]\sqrt{\frac{2 * D * OC}{HC'} }[/tex]
Where,
OC = Ordering Cost.
Just plugging in the values:
EOQ = [tex]\sqrt{\frac{2 * 2400 * [(100+55)]*1.5}{0.5317} }[/tex]
Hence,
EOQ = 1449 units are the optimal number of units of Filters to be produced.
b.
For this part, firstly, we need to find the inventory at any time:
I = EOQ x (1 - [tex]\frac{D}{PC}[/tex] )
We already know all the values, so just plug in the value into the above equation to calculate inventory at any time:
I = 1449 x ( 1 - [tex]\frac{2400}{72000}[/tex] )
I = 1400.7 units is the maximum level of on hand inventory any time.
c.
For this final part, first we need to find the cycle time as below:
CT = [tex]\frac{EOQ}{D}[/tex]
CT = 1449/2400
Hence, the cycle time is:
CT = 0.60375 per year.
Now, we need to find the uptime:
UT = [tex]\frac{EOQ}{PC}[/tex]
We already know the values, just plug them in:
UT = 1449/72000
UT = 0.0201 per year
Finally, with all the data collected, we can now calculate the portion of cycle time according to uptime in the production process as follows:
Portion of uptime = [tex]\frac{UT}{CT}[/tex]
Portion of Uptime = 0.0201/0.60375
Hence,
Portion of Uptime = 3.3%
Ship A is 15 miles east of P and is moving west at 20 mph; ship B is 60 miles south of P and is moving north at 15 mph. At what rate is the distance between them changing after 1 hour? Is the distance
increasing or decreasing?
14. Two cars start at same time from the junction of two roads one on each road, with uniform speed v m.p.h. If the roads are inclined at 120°, show that the distance between them increases at the rates of√3 v.m.p.h.
Answer:
[tex]please \: refer \: \: to \: the \: attachment \: above[/tex]
Thank U,Next
Employment agencies are either ____ or ____.
professional
public
personal
private
Answer: public or private
Explanation:
List the 5 tests of whether personal property has become a fixture
Answer:
im not sure but there is other questions for you.
Explanation:
Comfort chair company manufacturers a standard recliner. During February, the firm's Assembly Department started production of 73,000 chairs. During the month, the firm completed 78,600 chairs, and transferred them to the Finishing Department. The firm ended the month with 10,100 chairs in ending inventory. There were 15,700 chairs in beginning inventory. All direct materials costs are added at the beginning of the production cycle and conversion costs are added uniformly throughout the production process. The FIFO method of process costing is used by Comfort. Beginning work in process was 35% complete as to conversion costs, while ending work in process was 85% complete as to conversion costs.
Direct materials $24,000
Conversion costs $35,000
Manufacturing costs added during the accounting period:
Direct materials $168,000
Conversion costs $278,000
1. What were the equivalent units for conversion costs during February?
a. 81,500
b. 83,000
c. 73,000
d. 77,500
2. What is the amount of direct materials cost assigned to ending work-in-process inventory at the end of February?
a. $19,000
b. $23,000
c. $25,000
d. $27,000
3. What is the cost of the goods transferred out during February?
a. $417,750.5
b. $454,694.8
c. $476,750.6
d. $505,000.2
Answer:
1. a. 81,500
2. $38,481
3. $461,382
Explanation:
The equivalent units for conversion costs during February.
Conversion Costs = 15,700 x 65% + 62,900 x 100% + 10,100 x 85 %
= 81,690 units
Material Costs = 15,700 x 0% + 62,900 x 100% + 10,100 x 100 %
= 73,000 units
The amount of direct materials cost assigned to ending work-in-process inventory at the end of February.
Step 1 : Determine Cost per Equivalent unit
Conversion Costs = $168,000 ÷ 81,690 units = $2.06
Material Costs = $278,000 ÷ 73,000 units = $3.81
Total Cost = $2.06 + $3.81 = $5.87
Step 2 : Direct Material Cost assigned to ending work-in-process
Ending work-in-process (Material Cost) = 10,100 x $3.81
= $38,481
The cost of the goods transferred out during February.
Cost of the goods transferred out = $5.87 x 78,600
= $461,382
In preparing a company's statement of cash flows for the most recent year using the indirect method, the following information is available:
Net income for the year was $ 52,000
Accounts payable decreased by 18,000
Accounts receivable increased by 25,000
Inventories increased by 5,000
Depreciation expense was 30,000
Net cash provided by operating activities was
A. $34,000.
B. $60,000.
C. $70,000.
D. $80,000.
E. $52,000.
Answer:
A. $34,000.
Explanation:
We can determine the Net cash provided by operating activities by preparing the Cash flow from Operating Activities Section of the Cash flow Statement using the Indirect method as below
Cash flow from Operating Activities
Net income for the year 52,000
Adjustment for Non - Cash items :
Depreciation expense 30,000
Adjustment for Changes in Working Capital items :
Decrease in Accounts payable (18,000)
Increase in Accounts receivable (25,000)
Increase in Inventories (5,000)
Net cash provided by operating activities 34,000
Therefore,
Net cash provided by operating activities was A. $34,000.
On January 1, 2019, Crane Company granted Sam Wine, an employee, an option to buy 1,000 shares of Crane Co. stock for $30 per share, the option exercisable for 5 years from date of grant. Using a fair value option pricing model, total compensation expense is determined to be $5880. Wine exercised his option on October 1, 2021 and sold his 1,000 shares on December 1, 2021. Quoted market prices of Crane Co. stock in 2021 were:
July 1 $30 per share
October 1 $36 per share
December 1 $40 per share
The service period is for three years beginning January 1, 2019. As a result of the option granted to Wine, using the fair value method, Ellison should recognize compensation expense on its books in the amount of:_______
a. $1,800.
b. $600.
c. $450.
d. $0.
Answer:
b. $600
Explanation:
Calculation for what Ellison should recognize
as compensationn expense on its books
Based on the information given if the total compensation expense was the amount of $1,800 in which The service period is for three years which begins from January 1, 2010 which means that the Compensation for 2010 will be calculated by Using this formula
Compensation for 2010= Total compensation / 3 years
Let plug in the formula
Compensation for 2010 = $1,800 / 3 years
Compensation for 2010 = $600
Therefore Ellison should recognize compensation expense on its books in the amount of $600
Due to the secret nature of performance standards, employees are only permitted to review these standards at the time when they receive their appraisal.
t or f
Angela Lansbury Company deposits all receipts and makes all payments by check. The following information is available from the cash records.
June 30 Bank Reconciliation
Balance per bank
$14,728
Add: Deposits in transit
3,240
Deduct: Outstanding checks
(4,208
)
Balance per books
$13,760
Month of July Results
Per Bank
Per Books
Balance July 31 $18,199 $19,462
July deposits 9,468 12,224
July checks 8,416 6,522
July note collected (not included in July deposits) 3,156
July bank service charge 32
July NSF check from a customer, returned by the bank (recorded by bank as a charge) 705
Exercise 7-24 Angela Lansbury Company deposits all
Exercise 7-24 Angela Lansbury Company deposits all
Prepare a bank reconciliation going from balance per bank and balance per book to correct cash balance.
Angela Lansbury Company
Bank Reconciliation
July 31
Deposits in transitOutstanding checksBalance per books, July 31Bank service chargeNSF checkCorrect cash balance, July 31Balance per bank statement, July 31Collection of note
$
LessAdd
:
Deposits in transitUnderstated check for suppliesBalance per books, July 31Collection of noteBank service chargeCorrect cash balance, July 31NSF checkBalance per bank statement, July 31
LessAdd
:
NSF checkBank service chargeCorrect cash balance, July 31Balance per bank statement, July 31Understated check for suppliesBalance per books, July 31Collection of noteOutstanding checks
Deposits in transitBank service chargeBalance per books, July 31Balance per bank statement, July 31Outstanding checksCollection of noteNSF checkCorrect cash balance, July 31
$
Balance per bank statement, July 31NSF checkDeposits in transitBank service chargeCorrect cash balance, July 31Outstanding checksBalance per books, July 31Collection of note
$
AddLess
:
Collection of noteBalance per books, July 31Balance per bank statement, July 31Bank service chargeNSF checkCorrect cash balance, July 31Deposits in transitOutstanding checks
LessAdd
:
Deposits in transit Outstanding checks Correct cash balance, July 31 Balance per bank statement, July 31 Balance per books, July 31 Collection of note Bank service charge NSF check
$
Balance per bank statement, July 31 Bank service charge Deposits in transit Outstanding checks NSF check Balance per books, July 31 Collection of note Correct cash balance, July 31
Balance per bank statement, July 31NSF checkCorrect cash balance, July 31Deposits in transitBank service chargeBalance per books, July 31Outstanding checksCollection of note
$
SHOW LIST OF ACCOUNTS
LINK TO TEXT
Exercise 7-24 Angela Lansbury Company deposits all
Exercise 7-24 Angela Lansbury Company deposits all
Prepare the general journal entry to correct the Cash account. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
Account Titles and Explanation
Debit
Credit
Answer:
a. Adjusted Balance = Adjusted Balance = $21,881.
b. See the journal below.
Explanation:
Note: The actual data needed to answer this question are merged together. They are therefore sorted before answering the question. See the attached pdf file for the complete question with the sorted data that are actually needed.
Explanation of the answers is now given as follows:
a. Prepare a bank reconciliation going from balance per bank and balance per book to correct cash balance.
Angela Lansbury Company
July 30 Bank Reconciliation
Details Amount ($)
Balance as per bank 18,199
Add:
Deposit In transit ($3,240 + $12,224 - $9,468) 5,996
Less:
Outstanding Checks ($4,208 + $6,522 - $8,416) (2,314)
Adjusted Balance 21,881
Balance as per book 19,462
Add:
Note Collected 3,156
Less:
Bank Service charge (32)
NSf Check (705)
Adjusted Balance 21,881
b. Prepare the general journal entry to correct the Cash account.
The journal entries will look as follows:
Particulars Debit ($) Credit ($)
Cash 3,156
Note Collected 3,156
(To record note collected by bank.)
Bank Service charge 32
Cash 32
(To record Bank Service charge.)
Account Receivable 705
NSf Check 705
(To record NSf Check.)
Fulbright Corp. uses the periodic inventory system. During its first year of operations, Fulbright made the following purchases (listed in chronological order of acquisition): 53 units at $139 per unit 135 units at $142 per unit 183 units at $122 per unit Sales for the year totaled 335 units, leaving 36 units on hand at the end of the year. In comparing the ending inventory balances of FIFO and LIFO, the ending inventory value under FIFO less the ending inventory balance under LIFO results in a difference of:
Answer:
The difference is $612
Explanation:
By using the Periodic inventory system Fulbright Corp. calculates its Cost of Sales and Inventory at the end of a certain period. In this case at year end.
FIFO
FIFO assumes that the units to arrive first will be sold first. Meaning inventory will be valued using recent prices.
FIFO inventory = 36 units x $122 = $4,392
LIFO
LIFO assumes that the units to arrive last will be sold first. Meaning that the inventory will be valued using earliest (old) prices.
LIFO inventory = 36 units x $139 = $5,004
Conclusion
Difference = LIFO inventory - FIFO inventory
= $5,004 - $4,392
= $612
Daniel and Melissa just bought a new house for $200,000. Each quarter, they now have to pay $4,000 in taxes. Which type of tax are they MOST
likely paying because of this purchase?
OA estate
OB
inheritance
Ос
real estate property
OD.
income
Answer:Real estate property
Explanation:Real estate property
Daniel and Melissa have to pay real estate property tax for purchasing new house. The correct option is (c).
What is real estate property tax?Real estate property tax refers to that amount which is paid by the owner of the property holder to the local government or Municipal Corporation according to the law of their country.
Real estate property refers to office buildings, commercial buildings, property, residential homes that are rented out to the third parties all these are considered under it. Householders pay this tax every year to the local government.
Calculate the property tax:
Property tax = base value × built up area ×age factor× type of building × category of use × floor factor.
Daniel and Melissa pay the property tax because it comes under the residential property. This tax shall be go to the local government. This real estate property tax paid by every year.
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Fogel Co. has $2,500,000 of 8% convertible bonds outstanding. Each $1,000 bond is convertible into 30 shares of $30 par value common stock. The bonds pay interest on January 31 and July 31. On July 31, 2010, the holders of $800,000 bonds exercised the conversion privilege. On that date the market price of the bonds was 105 and the market price of the common stock was $36. The total unamortized bond premium at the date of conversion was $175,000. Fogel should record, as a result of this conversion, aa. credit of $136,000 to Paid-in Capital in Excess of Par.b. credit of $120,000 to Paid-in Capital in Excess of Par.c. credit of $56,000 to Premium on Bonds Payable.d. loss of $8,000.
Answer:
a. credit of $136,000 to Paid-in Capital in Excess of Par
Explanation:
Based on the information given Fogel should record, as a result of this conversion, a CREDIT of the amount of $136,000 to Paid-in Capital in Excess of Par which is calculated as:
Paid-in Capital in Excess of Par=800,000 + ($175,000 × .32) – (800 × 30 × $30)
Paid-in Capital in Excess of Par= $136,000
Fogel should record the conversion as A. credit of $136,000 to Paid-in Capital in Excess of Par.
Based on the information that was given, the paid in capital in excess of par will be calculated thus:
= $800000 + ($175000 × 0.32) - (800 × 30 × 30)
= $136000
Therefore, from the calculation above, the recording will be a credit of $136,000 to Paid-in Capital in Excess of Par.
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This ratio is anticipated and expected to be announced at shareholder meetings, since as a stock continues to increase in value, the shareholders are not as concerned about dividend payouts. The ratio is _____.
price-to-book value ratio
price-to-cash flow ratio
price-to-sales ratio
price-to-earnings ratio
Answer:
Price to book value ratio is the answer
Answer:
Price-to-earning ratio
Explanation:
Edge 2021
Money serves a good store of value unless an economy experiences a period of rapid inflation.
True
False
Uing the direct method, and the information in the exhibits, prepare the financing activities section of the statement of cash flows for Alaskan Travels, Inc., as of December 31, Year 2. In the first column, from the option list provided, select the description for cash flows that are clearly from financing activities. In the second column, enter the amounts that will be reported in the financing activities section of the statement of cash flows. Indicate negative numbers by using a leading minus (-) sign.
Cash flows from financing activities: Net cash provided by (used in) financing activities:
1.
2.
3.
4.
5.
Total:
Answer:
1. Dividends Paid - $8,900
2. Short term borrowing $5,500
3. Interest Paid - $1,208
4. Increase in Share capital $10,000
5. Long term borrowings Repayment - $7,250
Explanation:
Cash flows statements are important for a business as this clears out company position in terms of cash. The cash inflows and outflows are reported in the statement. There are three different categories in which cash is reported, Operating activities, Investing Activities and Financing Activities.
Financing activities shows cash flows which are used to fund the business. This part of cash flow shows the net cash generated from different sources of finance.
what is limited writing system
Limited writing refers directly to the object or idea portrayed. Pictograms or ideograms call to mind an image or concept that may be expressed in language. The reader does not need to know the language of the writer to translate the signs into his or her own language.
the summary of important trends in retailing are
Answer:
1 Investment in omni channel retail strategies
2 provide a personalized retail experience
3 Attend to the growing culture of immediacy
4 Expand into emerging markets and create a new channel
provide one to two strategies you might incorrect to ensure effectiveness of persuasive message in business.
provide one to two strategies to help ensure the most polite professional and appropriate manner to deliver bad news in business.
Explanation:
Persuasive message:
A persuasive message in business has as its main objective to convince the public to act or do something, such as carrying out tasks, engaging in a project or closing sales. So two effective strategies could be:
speak or write about the advantages that the public will have in carrying out what is being asked for or sold. have good oratory and convincing skills when using mental triggers and persuasive techniquesDeliver bad news in business:
In order to deliver negative messages to an organization, the communication process must be carried out with great caution, since negative news are generally received with dissatisfaction by the public and if they are not passed on effectively they can cause conflicts and other problems in the organizational environment. Some strategies for delivering negative messages would therefore be:
Using an indirect approach to cushion bad news, this approach aims to not speak the news right at the beginning of the message, but to list the facts that have led to a negative situation, so there is a greater sense of understanding by the audience and cushioning the central news. Be as transparent as possible, recognizing the difficulties that the company will face at the moment but using positive elements in the message that reiterate the union and the overcoming of the whole company.Outdoor Expo provides guided fishing tours. The company charges $200 per person but offers a 10% discount to parties of four or more. Consider the following transactions during the month of May.
May 2 Charlene books a fishing tour with Outdoor Expo for herself and four friends at the group discount price ($900 = $180 × 5). The tour is scheduled for May 7.
May 7 The fishing tour occurs. Outdoor Expo asks that payment be made within 30 days of the tour and offers a 5% discount for payment within 15 days.
May 9 Charlene is upset that no one caught a single fish and asks management for a discount. Outdoor Expo has a strict policy of no discounts related to number of fish caught.
May 15 Upon deeper investigation, management of Outdoor Expo discovers that Charlene’s tour was led by a new guide who did not take the group to some of the better fishing spots. In concession, management offers a sales allowance of 40% of the amount due.
May 20 Charlene pays for the tour after deducting the sales allowance.
Required:
a. Record the necessary transaction(s) for Outdoor Expo on each date.
b. Calculate net sales.
c. Show how Outdoor Expo would present net sales in its income statement.
Answer:
a. Recording of transactions:
May 7, Accounts Receivable (Dr.) $900
Sales Revenue (Cr.) $900
May 15, Customer service Expense (Dr.) $360
Sales Allowance (Cr.) $360
May 20, Cash (Dr.) $495
Cash Discount (Dr.) $45
Sales Allowance (Dr.) $360
Accounts receivable (Cr.) $900
Explanation:
b. Net Sales :
Total Quote ($180 * 5 ) = $900
Less : Cash Discount 5% = 45
Less : Sales Allowance 40% = 360
Net Sales = $495
c. Outdoor expo will record sales after deducting the cash discount. This discount is availed by customer as repayment is made within 15 days. The sales allowance is subtracted from the gross sales as the compensation is made from the outdoor expo due to mistake from their guide on tour. The net sales reported in Income statement will be $495.
explain the role of beliefs, customs and attitudes in communication and how it acts as an input communication
Answer and Explanation:
An individual's customs beliefs and attitudes are directly related to the culture to which they belong and that culture is able to determine the forms of communication that an individual can present, showing how to behave and how to start a communication. Thus, these factors determine the beginning and the entire development of input comunication, as well as the elements that compose it.
The explanation regarding the role of beliefs, customs & attitudes in communication should be described below:
The customs, beliefs, & attitudes of an individual should be related to the culture from which it belongs and the culture should be measurable in the terms of communication.In this, the individual should be presented, how to begins with the communication. Without an individual, the communication should not be done.In this way, it should be explained.
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On January 1, the Matthews Band pays $65,800 for sound equipment. The band estimates it will use this equipment for four years and after four years it can sell the equipment for $2,000. Matthews Band uses straight-line depreciation but realizes at the start of the second year that this equipment will last only a total of three years. The salvage value is not changed.
Answer:
$15,950
$15,950
Explanation:
Here is the full question :
On January 1, the Matthews Band pays $65,800 for sound equipment. The band estimates it will use this equipment for four years and after four years it can sell the equipment for $2,000. Matthews Band uses straight-line depreciation but realizes at the start of the second year that this equipment will last only a total of three years. The salvage value is not changed. Compute the revised depreciation for both the second and third years.
The step to answering this question :
1. calculate the depreciation expense using the initial useful life
2. calculate the book value for year 2
3. calculate the depreciation expense for year 2 and 3 using the revised useful life and year 2 book value
Straight line depreciation expense = (Cost of asset - Salvage value) / useful life
1. ($65,800 - $2000) / 4 = $15,950
Book value = $65,800 - $15,950 = $49,850
($49,850 - $2000) / 3 = $15,950
The depreciation expense in year 2 and 3 would be $15,950
You have emerged as the leader of your business finance group project in class. Your group has been working together for five weeks on the major part of the project, the in-class group presentation. One group member has missed quite a few group meetings lately and is minimally contributing to the ideas and final product for the in-class presentation. This group member is a junior in finance with a minor in communications and stated that she is an expert in PowerPoint and multimedia presentations. Based on SLII, which leadership style should you exhibit?
Answer:
Based on SLII, the leadership style you should exhibit in this case is:
Directing.
Explanation:
Directing as a leadership style should not be done in total isolation of the other leadership styles. While the junior member can be delegated to handle the organization of the PowerPoint presentation, there is need to initially direct, coach, and support this member to ensure that group objectives are attained.
Directing ensures that this junior member is properly instructed and supervised.
Coaching ensures that the junior member, having shown some level of competence, is fully engaged to develop all the required skill-set.
Supporting enhances the competence level of the junior group member. This can be achieved through the active participation of the leader in the junior's assignments.
Delegating ensures that the ultimate leadership goal is attained, and this happens when the junior's competence cannot be questioned.
Which of the following statements is correct?
A. All else the same, an investor will require less return to invest in a callable bond than one that is not callable.
B. All else the same, an investor will require more return to invest in a callable bond than one that is not callable.
C. The call feature does not impact the return that investors demand.
D. We would need to know the current level of interest rates to answer this question.
Answer:
B. All else the same, an investor will require more return to invest in a callable bond than one that is not callable.
Explanation:
A callable bond is a bond that is redeemable. Before this bond gets to when it is matured, it could be redeemed. Bonds of these nature can give better rates of interest or return or coupon rates based on the fact that they are callable.
the answer to this question therefore is that an investor is going to need more return to invest in this type of bond than one that is not callable.
What is Growth-oriented definition of Economics? Explain the main virtues of this definition.
Growth Definition (1948) According to Prof. Paul A Samuelson “ Economics is the study of how men and society choose with or without the use of money, to employ the scarce productive resources which have alternative uses, to produce various commodities over time and distribute them for consumption now and in future.
Sarah has investments in four passive activity partnerships purchased several years ago. Last year the income and losses were as follows:
Activity Income (Loss)
A $30,000
B (30,000)
C (15,000)
D (5,000)
In the current year, she sold her interest in Activity D for a $10,000 gain. Activity D, which had been profitable until last year, had a current loss of $1,500. Answer the following questions to determine how the sale of Activity D affects Sarah's taxable income in the current year.
a. The amount of suspended losses carried forward to the year of the sale is: ______________.
b. What amount of the suspended losses is allocated to Activity D?
Answer:
Ist B
Explanation:
Ist b
If you were charged $1152 in taxes on a $2560 purchase. What percent tax were you charged
Answer:
Percent tax = 45%
Explanation:
Given:
Amount of tax charged = $1,152
Amount of purchase = $2,560
Find:
Percent tax
Computation:
Percent tax = [Amount of tax charged / Amount of purchase]100
Percent tax = [1152 / 2560]100
Percent tax = 45%
Darius Rucker is leaving Theta Tech after several years. During his time at Theta he accumulated a deferred payroll benefit. He must choose between a lump-sum distribution or annual payments over the next 10 years, with his first payment deposited today. He believes he can invest any sum received at 4.95% for the next ten years. The annual payments are $20,311 and the lump-sum distribution is $165,000. To the nearest dollar, the more valuable choice is __________.
Darius Rucker is leaving Theta Tech after several years. During his time at Theta he accumulated a deferred payroll benefit. He must choose between a lump-sum distribution or annual payments over the next 10 years, with his first payment deposited today. He believes he can invest any sum received at 4.95% for the next ten years. The annual payments are $20,311 and the lump-sum distribution is $165,000. To the nearest dollar, the more valuable choice is the Lump Sum distribution.
What is Lump Sum Payments?A lump-sum payment is a sum of money that is frequently paid in one major payment rather than in several smaller ones.
In relation to loans, it is often referred to as "bullet repayment." They are sometimes connected to pension plans and other types of retirement accounts, such 401(k), when retirees opt for a smaller upfront lump-sum payment over a larger amount distributed gradually. These are frequently paid out when debentures occur.
What are Annual Payments?Annual payments are sums of money given to someone or something for the duration of an entire year, or sums of money given to someone or something for the duration of an entire year.
Annual Payments are the payments paid by the City under this Support Agreement as described in Section 4.1(a), which are equivalent to half of the principal and interest payments due on the Bond for each Fiscal Year.
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If overhead applied is less than actual overhead incurred, it is:
Fully applied
Answer:
under applied overhead
Explanation:
In the case when the applied overhead i.e. computed by mutiplying the actual direct labor or actual machine hours with the predetermined overhead rate is lower than the actual overhead so this represent the under applied overhead
Hence, the given situation represent the under applied overhead
Turnbull Corporation is constructing an office building that it will use in its business. Construction of the building started in the current accounting period Turnbull paid its builder $250,000 toward construction of the building. During the period Turnbull had outstandingjilebt of $200,000 with an interest rate of 6% and pays interest at the end of the period. What amount of interest should Turnbull include in the cost of the building from the current period?
A. $0
B. $3,000
C. $12,000
D. $15,000
Answer: $12000
Explanation:
The amount of interest should Turnbull include in the cost of the building from the current period will be calculated as the outstanding debt multiplied by the interest rate. This will be:
= $200,000 × 6%
= $200,000 × 6/100
= $200,000 × 0.06
= $12,000
Therefore, the correct option is C.
We discussed that President Roosevelt shifted SRAS to the left when he cartelized industries and boosted prices, making the economic downturn really bad. While some of government spending went to social programs, a rather large amount of government activity involved creating inflation. There are other things he could have done to mitigate, rather than exacerbate, the problem. Which of the following would have instead brought the economy back to full employment? (Check all that apply.)
A. Increase business taxes.
B. Reduce business regulations.
C. Strengthen labor unions
D. Spend money only on social programs.
Answer:
One of the things President Roosevelt could have done to mitigate, rather than exacerbate inflation or economic downturn was:
B. Reduce business regulations.
Explanation:
During his tenure government obtained the legal backing to regulate businesses. We are aware of the detrimental effects of business regulations by government, which skyrocketed from 1936 at the height of the New Deal measures, thereby increasing the compliance burden on businesses. Some of the newest regulations include the Federal Trade Commission (FTC), the Fair Packaging and Labeling Act of 1966, Fair Labor Standards Act (FLSA), The Employee Retirement Income Security Act (ERISA), the Environmental Protection Agency (EPA), and several Privacy laws.