Answer:
Part 1
Debit : Depreciation Expense $11,200
Credit : Accumulated Depreciation $11,200
Part 2
Debit : Cash $72,000
Debit : Accumulated Depreciation $88,000
Debit : P & L $15,600
Credit : Cost $175,600
Part 3
Debit : Cash $97,000
Debit : Accumulated Depreciation $88,000
Credit : P & L $9,400
Credit : Cost $175,600
Explanation:
Depreciation = (Cost - Residual Value) / Useful Life
Annual Depreciation = $19,200
to update depreciation in 2021 = $11,200
Accumulated Depreciation = $88,000
Marketers competing on product attributes and image are said to be participating in:
Answer:
nonprice competition
Explanation:
Marketers battling on product characteristics and image is defined as Non-price competition.
What is Non-price competition?Non-price competition is a strategy that implies attracting customers and increasing sales by providing superior product quality, a unique selling proposition, a great location, and excellent service rather than lower prices. It helps brands stand out and win new consumers
It is a type of competitiveness wherein the two or more manufacturers exploit elements such as marketing, transportation, or customer support to raise demand for their products rather than price.
Therefore, it can be concluded that Non-price competition is characterized as manufacturers competing on product qualities and appearance.
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A sales representative lives in Bloomington and must be in Indianapolis next Thursday. On each of the days Monday, Tuesday, and Wednesday, he can sell his wares in Indianapolis, Bloomington, or Chicago. From past experience, he believes that he can earn $12 from spending a day in Indianapolis, $16 from spending a day in Bloomington, and $17 from spending a day in Chicago. Where should he spend the first three days
Answer:
Bloomington.
Explanation:
Since a sales representative lives in Bloomington and must be in Indianapolis next Thursday, and on each of the days Monday, Tuesday, and Wednesday, he can sell his wares in Indianapolis, Bloomington, or Chicago, and from past experience, he believes that he can earn $ 12 from spending a day in Indianapolis, $ 16 from spending a day in Bloomington, and $ 17 from spending a day in Chicago, to determine where he should spend the first three days, the following calculation must be performed:
Indianapolis: 12 x 3 = 36
Bloomington: 16 x 3 = 48
Chicago: 17 x 3 = 51
Thus, in principle, the representative should spend his 3 days in Chicago, but if the cost of travel is discounted, he should spend those 3 days in Bloomington, since he will earn more money than if he moves in advance to Indianapolis.
rationing a product by coupons when recipients are allowed to sell them will cause
We have created the following Planned Production Orders over the planning period: 150 Product A We have the following Raw Materials on hand and available to be dedicated to these Planned Production Orders: Enough Raw Materials to product 90 Product A There are Purchase Orders at our suppliers for the following Raw Materials: 20 Product A
How many products should we order on New Purchase Orders with our suppliers?
Answer: 40 products
Explanation:
There is a need to produce 150 products.
There is enough materials to produce 90 products out of this 150.
There are purchase orders for materials for 20 more products out of this.
Number of products that should be ordered is the remaining figure:
= 150 - 90 - 20
= 40 products
The number of products that should be ordered is 40 products on the new purchase orders with our suppliers. This is part of a planned production order.
What do you mean by planned production?Production planning is the planning of production and manufacturing modules in a company or industry.
As per the question, there is a need to produce 150 products and there are enough materials to produce 90 products out of these 150.
We have purchase orders for materials for 20 more products out of this.
Therefore, the number of products that should be ordered is the remaining figure:
[tex]\rm\,Number \;of \; Products \;that \; should \;be \;ordered = 150 - 90 - 20\\\\\\rm\,Number \;of \; Products \;that \; should \;be \;ordered = 40 \;products[/tex]
Hence, the number of products that should be ordered is 40 products.
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An advantage of a corporation is that
A
owners pay fewer taxes than owners of other forms of business.
B
the business is subject to little government regulation.
с
owners have limited liability for debt.
D
owners have direct and immediate control over daily management of the business.
Answer:
Explanation:
An advantage of a corporation is that owners have limited liability for debt.
The advantage of a corporation is that owners have limited liability for debt. Thus, option (c) is correct.
This means that the corporate entity shields the shareholders from liability beyond the value of their investments, so protecting their personal assets.
When a company regularly assumes significant risks for which it could be held liable, limited liability is a distinct advantage. A corporation also offers protection from personal liability, continuity, and security for the business, quicker access to financing, and simple ownership transfers.
Therefore, option (c) is correct.
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Your sister is thinking about starting a new business. The company would require $425,000 of assets, and it would be financed entirely with common stock. She will go forward only if she thinks the firm can provide a 13.5% return on the invested capital, which means that the firm must have an ROE of 13.5%. How much net income must be expected to warrant starting the business?
Answer:
Net income = $133,875
Explanation:
The amount of net income that must be earned to proceed with the investment is that which produces a return on equity of 13.5%
Return on equity is the proportion of the equity investment that is earned as net income. It is computed as follows:
Return on equity (ROE) = net income /equity capital
Equity capital in this case is the same as the total asset value of 425,000 because the assets were financed entirely with common stock.
We substitute the values as follows:
13.5% = Net income/425,00
Cross multiply
Net income = 0.135 × 425,000 = $133,875
Net income = $133,875
Explain the use of NBT
Pension data for David Emerson Enterprises include the following:
($ in millions)
Discount rate, 10%
Projected benefit obligation, January 1 $320
Projected benefit obligation, December 31 500
Accumulated benefit obligation, January 1 335
Accumulated benefit obligation, December 31 450
Cash contributions to pension fund, December 31 185
Benefit payments to retirees, December 31 61
Required:
Assuming no change in actuarial assumptions and estimates, determine the service cost component of pension expense for the year ended December 31.
Answer:
$209
Explanation:
Calculation to determine the service cost component of pension expense for the year ended December 31
Projected benefit obligation, December 31 500
Add Benefit payments to retirees, December 31 $61
Less Interest cost ($32)
(10%$320)
Less Projected benefit obligation, January 1 ($320)
Service cost $209
($500+$61-$32-$320)
Therefore the service cost component of pension expense for the year ended December 31 will be $209
A businessperson is setting up a new automatic car wash and is choosing between two fully automated machines. The first machine can process up to 2,000 cars per month at a marginal cost of $1 per car. The second machine can also process up to 2,000 cars per month but at a marginal cost of $0.50 per car. The monthly lease for the machine with the higher marginal cost is $1,200. The monthly lease for the machine with the lower marginal cost is $1,590 The car wash can sell car washes for $8 per car. 1. Suppose the businessperson chooses to lease the machine with the higher marginal cost for the first month and does indeed wash 2,000 cars that month. The businessperson earned profits of____________ $ in the first month. 2. Suppose now the businessperson chooses to lease the machine with the lower marginal cost for the second month and again washes 2,000 cars that month. The businessperson earned profits of __________$ in the second month. 3. The car wash would have to wash ____________cars or more per month in order to justify paying the higher-priced machine lease.
Answer:
i wil do it asap asap
Explanation:
asap asap
how can a business deal with employees who have lack of focus and future goals ?
Answer:
motivation
Explanation:
Encourage them,make them see vision .
Why would it be economically efficient to require a natural monopoly LOADING... to charge a price equal to marginal cost? A. Economic efficiency requires natural monopolies to earn zero economic profits. B. Economic efficiency requires the total benefit of producing a good to equal the total cost of producing it. C. Economic efficiency requires the last unit of a good produced to provide an additional benefit to consumers equal to the average cost of producing it. D. Economic efficiency requires the last unit of a good produced to provide an additional benefit to consumers greater than the additional cost of producing it. E. Economic efficiency requires the last unit of a good produced to provide an additional benefit to consumers equal to the additional cost of producing it.
Answer:
Option C is the correct Option.
Explanation:
First of all, let me clear it to you that, it is a multiple choice question with 5 options in it.
Question Statement:
Why would it be economically efficient to require a natural monopoly to charge a price equal to marginal cost?
Solution:
The correct answer to this question is option C .
Option C = Economic efficiency requires the last unit of a good produced to provide an additional benefit to consumers equal to the average cost of producing it
Reasoning:
The marginal value of the last unit of output delivered to consumers is equal to the marginal cost of production. The overall welfare surplus is maximized, including both user and producer surpluses. There is no loss of dead weight.
Mariana works for a large pharmaceutical company. Last week she visited with an advisor at the nearby university because her employer encourages workers to continue their education. The company even gives employees time off to go to academic-related appointments during regularly scheduled work hours. One would assume that management at Mariana's company values the results of the Hawthorne studies, more so than traditional scientific management principles.
a. true
b. false
Nelter Corporation, which has only one product, has provided the following data concerning its most recent month of operations:Selling price $ 122Units in beginning inventory 290Units produced 6,600Units sold 6,590Units in ending inventory 300Variable costs per unit:Direct materials $ 42Direct labor $ 26Variable manufacturing overhead $ 2Variable selling and administrative expense $ 21Fixed costs:Fixed manufacturing overhead $ 151,800Fixed selling and administrative expense $ 46,130The company produces the same number of units every month, although the sales in units vary from month to month. The company's variable costs per unit and total fixed costs have been constant from month to month.Required:a. Prepare a contribution format income statement for the month using variable costing.b. Prepare an income statement for the month using absorption costing.
Answer:
Part a
Nelter Corporation
Contribution format income statement for the month using variable costing
Sales ($ 122 x 6,590) $803,980
Less Cost of Goods Sold
Beginning Inventory $20,300
Add Cost of Goods Manufactured $462,000
Less Ending Inventory ($21,000) ($461,300)
Contribution $342,680
Less Expenses
Selling and administrative expense :
Variable ($21 x 6,590) $138,390
Fixed $46,130
Fixed manufacturing overhead $ 151,800 ($336,320)
Net Income (Loss) $6,360
Part b
Nelter Corporation
Income statement for the month using absorption costing
Sales ($ 122 x 6,590) $803,980
Less Cost of Goods Sold
Beginning Inventory $26,970
Add Cost of Goods Manufactured $613,800
Less Ending Inventory ($27,900) ($612,870)
Gross Profit $191,110
Less Expenses
Selling and administrative expense :
Variable ($21 x 6,590) $138,390
Fixed $46,130 ($184,520)
Net Income (Loss) $6,590
Explanation:
Variable Costing Calculations
Unit Product Cost = Variable Manufacturing Costs
= $ 42 + $ 26 + $ 2
= $ 70
Cost of Goods Manufactured = 6,600 x $ 70 = $462,000
Opening Inventory = 290 x $ 70 = $20,300
Ending Inventory = 300 x $70 = $21,000
Absorption Costing Calculations
Unit Product Cost = Variable Manufacturing Costs
= $ 42 + $ 26 + $ 2 + ($ 151,800 ÷ 6,600)
= $ 42 + $ 26 + $ 2 + $23
= $93
Cost of Goods Manufactured = 6,600 x $93 = $613,800
Opening Inventory = 290 x $93 = $26,970
Ending Inventory = 300 x $93 = $27,900
The Jones Company has a very limited return policy for its products, and a customer can only return an item with a store receipt. The Jones Company has established this return policy without any customer satisfaction research. While the Jones Company thinks its policy is fair, many customers do not. A service-providing firm like the Jones Company that does little or no customer satisfaction research is most likely to experience a gap between _______.
Answer:
the customers' wants and what management thinks customers want.
Explanation:
A warranty can be defined as a written promise or guarantee made by a manufacturer, lessor or seller about the identity or quality of goods and services or a property to a purchaser, promising him or her to repair or replace it if necessary within a specified time frame.
An express warranty is typically considered to be an affirmative promise about the quality or characteristics of an item that is being sold to a buyer and as such it is binding and enforceable by law.
It recognized by the Uniform Commercial Code ("UCC") as explicit, stated promises by a manufacturer.
In this scenario, The Jones Company has a very limited return policy for its products, and a customer can only return an item with a store receipt. The Jones Company has established this return policy without any customer satisfaction research. While the Jones Company thinks its policy is fair, many customers do not. A service-providing firm like the Jones Company that does little or no customer satisfaction research is most likely to experience a gap between the customers' wants and what management thinks customers want.
A quality function deployment can be defined as a measure of customer wants or requirements and developing them into processes (how) that each functional area of the manufacturing firm can understand and work with.
Vince says that the present value of $500 to be received one year from today if the interest rate is 8 percent is more than the present value of $500 to be received two years from today if the interest rate is 4 percent. Terri says that $500 saved for two years at an interest rate of 3 percent has a larger future value than $500 saved for one years at an interest rate of 6 percent. a. Both Vince and Terri are correct. b. Only Vince is correct. c. Only Terri is correct. d. Neither Vince nor Terri is correct.
Answer:
A
Explanation:
To determine if Vince is right, we have to determine the present value of the amounts
Present value is the sum of discounted cash flows
Present value of $500 to be received one year from today500 / 1.08 = $462.96
Present value of $500 to be received two years from today500 / (1.04^2) = $462.28
$462.96 > $462.28 Vince is right
To determine if Terri is right, we have to determine the future value of the amounts
The formula for calculating future value:
FV = P (1 + r)^n
FV = Future value
P = Present value
R = interest rate
N = number of years
500 x (1.03)^2 = $530.45
500 x (1.06) = $530
$530.45 > $530 Terri is right
they are both correct
Asset management ratios are used to measure how effectively a firm manages its assets, by relating the amount a firm has invested in a particular type of asset (or group of assets) to the amount of revenues the asset is generating. Examples of asset management ratios include the average collection period (also called the days sales outstanding ratio), the inventory turnover ratio, the fixed asset turnover ratio, and the total asset turnover ratio. Consider the following case: Graham Pharmaceuticals has a quick ratio of 2.00x, $31, 500 in cash, $17, 500 in accounts receivable, some assets of inventory, total $70,000, and total abilities of $24, 500. The company reported annual sales of $100,000 in the most recent annual report, over the past year, how often did Graham Pharmaceuticals sell and replace its inventory? a. 8.01 x.b. 5.24 x.c. 2.85 x.d. 4.75 x.The inventory turnover ratio across companies in the pharmaceutical industry is 4.05x. Based on this information, which of the following statements is true for Graham Pharmaceuticals? A. Graham Pharmaceuticals is holding less inventory per dollar of sales compared to the industry average. B. Graham Pharmaceuticals is holding more inventory per dollar of sales compared to the industry average. You are analyzing two companies that manufacture electronic toy s-Like Games Inc. and our Play Inc. Like Games was launched eight years ago, whereas Our Play is a relatively new company that has been in operation for only the past two years. However, both companies have an equal market share with sales of $100,000 each. You've collected company data to compare Like Games and our play. Last year the average companies in the coming year. You've collected data from the companies financial statements. This information is listed as follows:Using this information, complete the following statements to include in your analysis. Data collected (in dollars) Like Games Our Play Industary AverageAccounts receivable 2,700 3,900 3,850Net fixed assets 55,000 80,000 216,750Total assets 95,000 125,000 234,6001. A ____ days of sales outstanding represents an efficient credit and collection policy. between the two companies ____ is collecting cash from its customers faster than ____ but both companies are collecting their receivables less quickly than the industry average. 2. Our Play's fixed assets turnover ratio is ___ than that of Like Games. This could be because our play is relatively new company, so the acquisition cost of its fixed assets is ____ than the recorded cost of Like Games's fixed assets. 3. Like Games's total assets turnover ratio is ____ which is ___ than the industry's average total assets turnover ratio. In general, a higher total assets turnover ratio indicates greater efficiency.
Answer:
Asset Management Ratios
Part A:
1. Inventory turnover:
= d. 4.75 x
2. Based on this information, the true statement for Graham Pharmaceuticals is:
B. Graham Pharmaceuticals is holding more inventory per dollar of sales compared to the industry average.
Part B:
1. A __Average__ days of sales outstanding represents an efficient credit and collection policy. Between the two companies _Like Games__ is collecting cash from its customers faster than _Our Play_ but both companies are collecting their receivables less quickly than the industry average.
2. Our Play's fixed assets turnover ratio is _lower__ than that of Like Games. This could be because Our Play is relatively new company, so the acquisition cost of its fixed assets is _higher___ than the recorded cost of Like Games's fixed assets.
3. Like Games's total assets turnover ratio is _1.05x_ which is _higher_ than the industry's average total assets turnover ratio. In general, a higher total assets turnover ratio indicates greater efficiency.
Explanation:
a) Data and Calculations:
Graham Pharmaceuticals
Quick ratio = 2.00x
Cash = $31,500
Accounts receivable = $17,500
Inventory = x
Total current assets = $70,000
Total current liabilities = $24,500
Quick assets = $24,500 * 2 = $49,000 ($31,500 + $17,500)
Inventory (x) = $21,000 ($70,000 - $49,000)
Annual sales = $100,000
Inventory Turnover = $100,000/$21,000 = 4.76x
Part B:
Like Games Our Play Industry Average
Accounts receivable 2,700 3,900 3,850
Net fixed assets 55,000 80,000 216,750
Total assets 95,000 125,000 234,600
Sales revenue 100,000 100,000 100,000
Days Sales Outstanding 9.9 days 14.2 days 14x
Accounts receivable turnover 37x 25.6x 26x
Average Collection Period 9.9 days 14.3 days 14x
Fixed assets turnover ratio 1.82x 1.25x 0.46x
Total assets turnover ratio 1.05x 0.8x 0.43x
Average days of sales outstanding = Average Accounts Receivable/Sales * 365
Accounts receivable turnover = Net Sales/Average Receivable
Average Collection Period = 365/Accounts receivable turnover
Fixed assets turnover ratio = Net Sales/Net Fixed Assets
Total assets turnover ratio = Net Sales/Total assets
On January 1, 2021, the Montgomery Company agreed to purchase a building by making six payments. The first three are to be $37,000 each, and will be paid on December 31, 2021, 2022, and 2023. The last three are to be $52,000 each and will be paid on December 31, 2024, 2025, and 2026. Montgomery borrowed other money at a 11% annual rate. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: 1. At what amount should Montgomery record the note payable and corresponding cost of the building on January 1, 2021
Answer:
cost of the building = $183,331.14
Explanation:
we have to calculate the present value of all the future annual payments using the 11% discount rate:
$37,000 x 2.4437 (PVIFA, 11%, 3 periods) = $90,416.90
($52,000 x 2.4437) / (1 + 11%)³ = $92,914.24
total present value = $183,331.14
Explain what boundaries are and why they are important in decision-making.
Answer:
boundaries are that invisible line in social structure that people try not to cross lest by accident.
Explanation:
When you are making decisions you always have to think of the outcome or else you could end up doing something bad or wrong. Boundaries in decisions making are so you don't just go and do whatever without thinking. we as humans subconsciously try not to cross other people's boundaries for mainly two reasons. The first is it makes people feel uncomfortable. The second is that it brings out our inner guilt. if you cross someone's boundaries you will most likely realize it imededietly and to to back off instinctively.
I hope this helps!
Cale Company buys surgical supplies from a variety of manufacturers and then resells and delivers these supplies to hundreds of hospitals. Cale sets its prices for all hospitals by marking up its cost of goods sold to those hospitals by 7%. For example, if a hospital buys supplies from Cale that cost Cale $100 to buy from manufacturers, Cale would charge the hospital $107 to purchase these supplies.For years, Cale believed that the 7% markup covered its selling and administrative expenses and provided a reasonable profit. However, in the face of declining profits, Cale decided to implement an activity-based costing system to help improve its understanding of customer profitability. The company broke its selling and administrative expenses into five activities as shown:Activity Cost Pool (Activity Measure) Total Cost Total ActivityCustomer deliveries (Number of deliveries) $420,000 5,000 deliveriesManual order processing (Number of manual orders) 624,000 8,000 ordersElectronic order processing (Number of electronic orders)170,000 10,000 ordersLine item picking (Number of line items picked) 675,000 450,000 line itemsOther organization-sustaining costs (None) 650,000 Total selling and administrative expenses $2,539,000 Cale gathered the data below for two of the many hospitals that it serves—Georgetown and Providence (each hospital purchased medical supplies that had cost Cale $38,000 to buy from manufacturers): ActivityActivity Measure University Memorial Number of deliveries 16 28Number of manual orders 0 49Number of electronic orders 18 0Number of line items picked 190 210Required:1. Compute the total revenue that Cale would receive from Georgetown and Providence.2. Compute the activity rate for each activity cost pool.3. Compute the total activity costs that would be assigned to Georgetown and Providence.4. Compute Cale's customer margin for Georgetown and Providence.
Solution :
1. Calculation of total revenue
Total revenue = cost of goods sold + Markup 7% = Revenue
University = 38000 + 2660 = 40660
Memorial = 38000 + 2660 = 40660
Therefore, markup = cost of goods sold x market up
= 38000 x 7%
= 2660
2. Calculations of Activity rates
Activity rate = activity cost pool / total activity = activity rate
Customer deliveries = 420000 / 5000 = 84
Manual order processing = 624000 / 8000 = 78
Ele order processing = 170000 / 10000 = 17
Line time picking = 675000 / 450000 = 1.5
3. Calculations of Activity costs
Activity cost for University
Activity cost pool = Activity x Activity rate
Customer deliveries = 16 x 84 = 1344
Manual order processing = 0 x 78 = 0
Ele order processing = 18 x 17 = 306
Line time picking = 190 x 1.5 = 285
Total activity cost = 1935
Activity cost for Memorial
Activity cost pool = Activity x Activity rate
Customer deliveries = 28 x 84 = 2352
Manual order processing = 49 x 78 = 3822
Ele order processing = 0 x 17 = 0
Line time picking = 210 x 1.5 = 315
Total activity cost = 6489
4. Calculation of Customer margin
University Memorial
Sales revenue 40660 40660
Less : Cost of goods sold 38000 38000
Gross Margin 2660 2660
Less : Activity cost 1935 6489
Customer Margin 725 -3829
Sean and Yvette Durand live in Swarthmore, PA. Yvette's father, Bob, lives in Sweden. For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment (I), government purchases (G), exports (X), or imports (M). Check all that apply.
a. Yvette's father in Sweden orders a bottle of Vermont maple syrup from the producer's website.
b. Sean buys a sweater made in Guatemala.
c. The state of Pennsylvania repaves highway PA 320, which goes through the center of Swarthmore.
d. Sean's employer upgrades all of its computer systems using U.S.-made parts.
e. Yvette gets a new refrigerator made in the United States.
Answer:
Any help
Explanation:
I need acndndndndndndmdndbdbzjdjdbdbddjwbbsbxbxbxbxbdhdbdb
If investing $1,000 for a year, how frequently is simple interest paid on the principal investment?
daily
annually
never
hourly
Answer:
your intrest is probally 5% or 0.5%
Explanation:
The use of planning techniques is an example of
Answer:
whats this a part of anyway
it help with essays & missions thats all i know
Explanation:
Nemo Gill was hired by the Spectacular Tropical Aquarium and agreed to submit any disputes arising out of his employment to binding arbitration. Nemo was fired when he became a Rastafarian and urged his coworkers to become vegetarians and smoke ganja. Without waiting for the results of the arbitration, Nemo filed a complaint alleging religious discrimination with the EEOC. The EEOC quickly filed a lawsuit on his behalf. Spectacular moved to have the EEOC's lawsuit dismissed on the grounds that Nemo signed a valid arbitration agreement.
a. The EEOC cannot bring a lawsuit enforcement action against Spectacular because Nemo signed the mandatory arbitration agreement.
b. The EEOC can bring a lawsuit enforcement action against Spectacular despite Nemo's agreeing to arbitration.
c. The EEOC cannot bring a lawsuit enforcement action against Spectacular because Nemo did not wait for the results of the arbitration.
d. The EEOC cannot bring a lawsuit enforcement action against Spectacular because Nemo's urging his co-workers to smoke ganja and become vegetarians had nothing to do with his job.
Answer:
The correct answer to the question above is OPTION B (The EEOC can bring a lawsuit enforcement action against Spectacular despite Nemo's agreeing to arbitration).
Explanation:
Companies (mostly private) usually desire their employees to sign an arbitration agreement giving the fact that it removes the power of an employee to take the employer to court on certain claims instead the claims go through an arbitration proceeding that happens outside of court.
EEOC (Equal Employment Opportunity Commission) enforces the laws of the state that prohibits discrimination against employees by their employers because of where they come from, their religion, their marital status, sex, their citizenship, and a whole lot more.
So, the EEOC can bring a lawsuit enforcement action against Spectacular despite Nemo's agreeing to arbitration because the EEOC itself was not a party to the arbitration agreement between Spectacular and Nemo, and the U. S. Supreme Court gave EEOC the power to exercise its enforcement powers.
Dwayne Wade Company recently signed a lease for a new office building, for a lease period of 10 years. Under the lease agreement, a security deposit of $12,000 is made, with the deposit to be returned at the expiration of the lease, with interest compounded at 5% per year.
What amount will the company receive at the time the lease expires?
Answer:
The correct answer is "$19,546.74".
Explanation:
The given values are:
Amount,
= $12,000
Years,
= 10
Interest rate,
= 10%
Now,
The future value will be:
⇒ [tex]Future \ value=Amount\times (1+Rate)^{Years}[/tex]
On substituting the given values in the above formula, we get
⇒ [tex]=12000\times (1+5 \ percent)^{10}[/tex]
⇒ [tex]=12000\times (1+0.05)^{10}[/tex]
⇒ [tex]=12000\times (1.05)^{10}[/tex]
⇒ [tex]=19,546.74[/tex] ($)
Leroy ordered a DVD player for his son's birthday. While the manufacturer guaranteed that it would ship the player within ten business days, the player was not shipped until three months after Leroy placed his order. By the time the DVD player arrived, Leroy's son's birthday had long since passed. When the player arrived, Leroy refused to sign for it. Under these circumstances:
A. Leroy holds title to the DVD player.
B. The manufacturer can only regain title if it sues Leroy.
C. Leroy and the manufacture have joint title.
Answer:
C. Leroy and the manufacturer have joint title
Matlock Company uses a periodic inventory system. Its beginning inventory consists of 50 units that cost $ 34 each. On June 3, the company purchased 150 units at $ 34 each. On June 15, the company sold 125 units at $ 50 each. Thecompany closes the books on June 30. The physical counts indicate that 75 units are available in the warehouse on June 30. Journalize the June transactions.
Answer:
Matlock Company
Journal Entries:
June 3: Debit Inventory $5,100
Credit Cash $5,100
To record the purchase of inventory.
June 15: Debit Cash $6,250
Credit Sales revenue $6,250
To record the sale of goods.
June 15: Debit Cost of goods sold $4,250
Credit Inventory $4,250
To record the cost of goods sold.
Explanation:
a) Data and Analysis:
June 3: Inventory $5,100 Cash $5,100
June 15: Cash $6,250 Sales revenue $6,250
June 15: Cost of goods sold $4,250 Inventory $4,250
To conclude, think about the effect on estimated/planned and
actual figures. What about the total variance figure? Are there
external factors that may affected these figures and what
actions could the business take?
How did the Internet help give rise to the “sharing economy?”
By the means of internet apps that rent directly to consumers or connect consumer peer to peer access. For an example eBay was one of the first enablers of the sharing economy since it provided a global marketing where anyone could purchase or sell goods.
06-14 Calculating EAR [LO4] First National Bank charges 13.1 percent compounded monthly on its business loans. First United Bank charges 13.4 percent compounded semiannually. Calculate the EAR for First National Bank and First United Bank. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) As a potential borrower, which bank would you go to for a new loan
Answer:
13.92%
13.85%
Explanation:
Effective annual interest = (1 + periodic interest)^m - 1
m = number of compounding
Periodic interest = annual interest rate / number of compounding
(1 + 0.131/12)^12 - 1 = 13.92%
(1 + 0.134/2)^2 - 1 = 13.85%
Miscavage Corporation has two divisions: the Beta Division and the Alpha Division. The Beta Division has sales of $285,000, variable expenses of $147,600, and traceable fixed expenses of $68,800. The Alpha Division has sales of $595,000, variable expenses of $329,800, and traceable fixed expenses of $129,500. The total amount of common fixed expenses not traceable to the individual divisions is $130,200. What is the company's net operating income
Answer:
$880,000 is the net operating income