Answer:
Price of bond = $1,365.54
Explanation:
The value of the bond is the present value (PV) of the future cash receipts expected from the bond. The value is equal to present values of interest payment plus the redemption value (RV).
Value of Bond = PV of interest + PV of RV
The value of bond for Orlando Builders Inc. can be worked out as follows:
Step 1
PV of interest payments
Semi annul interest payment
= 9% × 1000 × 1/2 = 45
Semi-annual yield = 5.80%/2 = 2.9 % per six months
Total period to maturity (in months)
= (2 × 19) = 38 periods
PV of interest =
45 × (1- (1+0.029)^(-21)/0.029)= 1028.087
Step 2
PV of Redemption Value
= 1000 × (1.029)^(-19×2) =337.45
Price of bond
= 1028.08 + 337.45 =1365.54
Price of bond = $1,365.54
The marginal-cost curve intersects the average-total-cost curve at the output level where average fixed costs are zero.
1. True
2. False
Answer:
False
Explanation:
The marginal cost curve intersects across total curve at the options level where average costs are zeo
Work
You need to make 70
servings of Caesar dressing,
Each serving takes 2
teaspoons of crushed garlic,
How many teaspoons of
crushed garlic do you need?
Answer:
Answer:
140 teaspoons of crushed garlic.
Explanation:
Since you're going to make 70 servings and each requires 2 tsp of crushed garlic, we simply multiply 70 x 2.
I hope this helps :)
Local Co. has sales of $ 10.8 million and cost of sales of $ 5.7 million. Its selling, general and administrative expenses are $ 550,000 and its research and development is $ 1.2 million. It has annual depreciation charges of $ 1.2 million and a tax rate of 35 %.
a. What is Local's gross margin? (answer in %, Round to one decimal place.)b. What is Local's operating margin? (answer in %, Round to one decimal place.)c. What is Local's net profit margin? (answer in %, Round to two decimal places.)
Answer:
Gross profit Margin = 47.2%
Operating profit margin = 19.9%
Net Profit Margin = 12.93%
Explanation:
Requirement A: Gross profit margin
Gross Profit = Sales - Cost of sales
Gross Profit = 5.1m
Gross profit Margin = Gross profit/Sales x 100
Gross profit Margin = 5.1/10.8 x 100
Gross profit Margin = 47.2%
Requirement B: Operating profit margin
Operating profit margin = Operating Profit/ Sales x 100
Operating Profit = Gross Profit - selling,general and administrative expense -research and development - depriciation
Operating Profit = 5.1m - 0.55m - 1.2m - 1.2m
Operating Profit = 2.15m
Operating profit margin = 2.15m/10.8m x 100
Operating profit margin = 19.9%
Requirement C: Net profit Margin
Net Profit margin = Net profit / Sales x100
Net Profit = Operating profit - tax
Net Profit = 2.15m - (2.15m x 35%)
Net Profit = 2.15m - 0.7525m
Net Profit = 1.3975m
Net Profit Margin = 1.3975m/10.8m x 100
Net Profit Margin = 12.93%
You are given the following information for Bowie Pizza Co.: Sales = $64,000; Costs = $30,700; Addition to retained earnings = $5,700; Dividends paid = $1,980; Interest expense = $4,400; Tax rate = 22 percent. Calculate the depreciation expense. (Do not round intermediate calculations and round your answer to the nearest dollar.)
Answer:
$18554
Explanation:
The formula for addition to retained earnings can be used to determine the amount of depreciation expense as shown below:
addition to retained earnings=sales-costs-depreciation expense-interest expense-tax paid-dividends
addition to retained earnings=net income-dividends
5700=net income-1980
net income=5700+1980=7680
if tax 22%,net income is 1-22%=0.78
profit before tax=7680 /0.78= 9,846.15
tax = 9,846.15*22%= 2,166.15
using the long formula,we have depreciation expense
5700=64000-30700-depreciation expense-4400-2666.15-1980
depreciation expense=64000-30700-4400-2666.15-1980-5700
depreciatio expense=$18553.85
Macintosh Inc. changed from LIFO to the FIFO inventory costing method on January 1, 2021.
Inventory values at the end of each year since the Inception of the company are as follows:
FIFO LIFO
2019 $196,000 $178,000
2020 392,000 356,000
Required:
Ignoring Income tax considerations. prepare the entry to report this accounting change
Answer:
You only need to adjust the ending inventory for 2020, since the ending inventory for 2019 no effect on the income statement. This happens because FIFO always uses the first units purchased to determine the cost of goods sold, and after one year, there is no real effect on net income.
The adjustment for ending inventory 2020 should be:
Dr Merchandise inventory 36,000
Cr Cost of goods sold 36,000
This adjustment will decrease the expenses during 2020 and increase that year's net income.
The following events took place for Digital Vibe Manufacturing Company during January, the first month of its operations as a producer of a digital video monitor.
a. Purchased $168,500 of materials.
b. Used $149,250 of direct materials in production.
c. Incurred $360,000 of direct labor wages.
d. Incurred $120,000 of factory overhead.
e. Transferred $600,000 of work in process to finished goods.
f. Sold goods for $875,000.
g. Sold goods with a cost of $525,000.
h. Incurred $125,000 of selling expenses.
i. Incurred $80,000 of administrative expenses.
Using the information given, complete the following:
a. Prepare the January income statement for the Digital Vibe Manufacturing Company.
b. Determine the Materials Inventory, Work in Process Inventory, and Finished Goods Inventory balances at the end of the first month of operations.
Answer:
1. Income Statement for Digital Vibe Manufacturing company
For the Month ended January 31
Sales 875,000
Cost of goods sold 525,000
Gross Profit 350,000
Operating Expenses:
Selling expenses 125,000
Administrative expenses 80,000
Total Operating expenses 205,000
Net Income $145,000
B.
1. Ending material inventory = Material purchased - Used material in production
= 168,500 - 149,250
= $19,250
2. Ending work in Process inventory = Material used in production + Direct labor + Factory overhead - Transferred of work in process to finished goods
= 149,250 + 360,000 + 120,000 - 600,000
=$29,250
3. Ending finished goods inventory = Transfer from work in progress - Cost of goods sold
= 600,000 - 525,000
= $75,000
Do you think the Business practices in an Islamic country are likely differ from Business practices in the United States? If so, how?
Explanation:
Yes, the business practices of an Islamic country certainly differ from the business practices of the United States, starting with the significant cultural differences between those countries, including differences in the rules of etiquette, employee benefits, communication, the presence of women in the workplace, etc.
There is also strict government control in companies in Islamic countries, which obliges them to follow certain religious laws and regulations, which prevents them from managing an organization more aggressively with regard to paying interest and establishing a culture geared towards receiving "fair" profits, while business in the United States survives without obligation to comply with religious laws or impede profit.
Acme Inc. has the following information available:
Actual price paid for material $1.00
Standard price for material $0.90
Actual quantity purchased and used in production 100
Standard quantity for units produced 110
Actual labor rate per hour $ 15
Standard labor rate per hour $ 16
Actual hours 200
Standard hours for units produced 220
1. Compute the material price and quantity, and the labor rate and efficiency variances.
2. Describe the possible causes for this combination of favorable and unfavorable variances.
Answer:
1. Computation of variances
a. Material Price Variance = (Actual Price - Standard Price) x Actual Quantity
= ($1 - $0.9) x 100
= $10 U
b. Material Quantity Variance = (Actual Quantity - Standard Quantity) x Standard Price
= (100 - 110) x $0.9
= $9 F
c. Labor Rate Variance = (Actual Rate - Standard Rate) x Actual hours
= ($15 - $16) x 200
= $200 F
d. Labor Efficiency Variance = (Actual hours - Standard hours) x Standard Rate
= (200 - 220) x $16
= $320 F
2. Description of the possible causes for this combination of these variances
a. This could be due to scarcity of resources or major demand for this material, thus prices increasing in the market. Or could be purchase of high quality material than budgeted.
b. This could be because of purchase of higher quality material thus lower damages and could also be due to the efficiency of manufacturing plants.
c.This could be because of the use of less qualified cheap labor.
d.This could be due to good management of labors and strict overseeing, co-ordination of their work activities.
a companys sales in year 1 were 250,000 and in year 2 were 287,500. Using Year 1 as the base year, the percetn change for year 2 ompared to the base year is:
Answer:
115%
Explanation:
Computation of the percentage change for year 2 when compared to the base year
Using this formula
Percentage change=(Year 2 Sales /Year 1 Sales )* 100
Let plug in the formula
Percentage change =($287,500/$250,000) * 100
Percentage change =1.15*100
Percentage change = 115%
Therefore the percentage change in year 2 when compared to the base year will be 115%
Question 3
You are the Chief Operations Officer responsible for overall company operations in ATCHULO Company Ltd, a large courier company in Ghana. Your company has 16 regional offices (terminals) scattered around the country in each of the regional capitals and a main office (hub) located in the capital city of the country. Your operations are strictly domestic. You do not accept international shipments.
The day at each terminal begins with the arrival of packages from the hub. The packages are loaded onto trucks for delivery to customers during morning hours. In the afternoon, the same trucks pick up packages that are returned to the terminal in late afternoon and then shipped to the hub where shipments arrive from the terminals into the late evening and are sorted for delivery early the next day for the terminals.
Examiner: Dr. Abubakari Atchulo Page 1 of 2
Each terminal in your company is treated as an investment centre and prepares individual income statements each month. Each terminal receives 30% of the revenue from packages that it picks up and 30% of the revenue from the packages it delivers. The remaining 40% of the revenue from each transaction goes to the hub. Each terminal accumulates its own costs. All costs relating to travel to and from the hub are charged to the hub. The revenue per package is based on size and service type and not the distance the package travels. (There are two services: overnight and ground delivery, which takes between 1 and 7 days, depending on the distance traveled).
All customer service is done through a central service group located in the hub. Customers access this service centre through a toll-free telephone number. The most common calls to customer service include requests for package pickup, requests to trace an overdue package, and requests for billing information. The company has invested in complex and expensive package tracking equipment that monitors the package’s trip through the system by scanning the bar code placed on every package. The bar code is scanned when the package is picked up, enters the originating terminal, leaves the originating terminal, arrives at the hub, leaves the hub, arrives at the destination terminal, and is delivered to the customers. All scanning is done with hand held wands that transmit the information to the regional and then central computer.
The major staff functions in each terminal are administrative (accounting, clerical, and executive), marketing (the sales staff), courier (the people who pick up and deliver the shipments and the equipment they use), and operations (the people and equipment who sort packages in the terminal).
This organisation takes customer service very seriously. The revenue for any package that fails to meet the organisation’s service commitment to the customer is not assigned to the originating and destination terminals.
All company employees receive a wage and a bonus based on the terminal’s economic value added. This system has promoted many debates about the sharing rules for revenues, the inherent inequity of the existing system, and the appropriateness of the revenue share for the hub. Service problems have arisen primarily relating to overdue packages. The terminals believe that most of the service problems relate to wrong sorting in the hub, resulting in packages being sent to the wrong terminals.
Required:
A) Explain why an investment centre is or not an appropriate organisational design in ATCHULO Company Ltd. (15 marks)
B) Assuming that ATCHULO Company Ltd is committed to the current design, how would you improve it? (15 marks)
C) Assuming that ATCHULO Company Ltd has decided that the investment centre model is
unacceptable, what model to performance evaluation would you recommend and why? (15 marks)
Answer:
ATCHULO Company Ltd
A) ATCHULO Company Ltd, as it is currently being operated should not be using an investment center as the appropriate organizational design when a profit center structure could have been applied. However, if it wants to continue the use of the investment center model as a preferred organizational structure, then it should implement the structure fully. For one, an investment center is a division in ATCHULO company that is supposed to be in control of all its investment activities (assets), and is responsible for generating profits (revenue and costs) for its sustenance. Its performance will then be evaluated based on the revenue it generates less the expenses, including the capital costs incurred for generating the revenue.
B) For a better operation of the investment center, revenues generated by the investment centers should be assigned to the investment centers and all their costs will be assigned as well. The investment centers should have their operational assets and make the necessary decisions regarding their use.
The hub should not be sorting packages for the investment centers as each investment center could handle the sorting at their various centers and route packages to appropriate destinations, accordingly. The investment centers should operate their own trucks or outsource such services at some costs. Since packages are sent from one center to the other and vice versa, they can charge for the services they provide for one another. In this way, each investment center's performance will be more accurately evaluated.
C) The investment center approach would have been the best for ATCHULO Company Ltd if it were being properly implemented, both in terms of operational activities and performance evaluation.
However, since ATCHULO Company has decided to change the model, I recommend the centers to be operated as profit centers, because this is the next best thing in terms of performance evaluation. However, each center must be able to make its own revenue and cost decisions, so that it can be assessed based on profit performance.
Explanation:
An investment center in ATCHULO Company should be a unit of the firm that is responsible for its revenue, cost, and investment decisions, with its performance judged based on the overall outcome achieved or the value added to the company.
A profit center in ATCHULO Company is a unit that is only responsible for its revenue and cost decisions, while investment activities are handled from the headquarters. Its performance is evaluated on profits without consideration of the capital costs incurred in generating the profits.
Feather Tissues Inc. decided to change the color of its tissue box from red to blue because blue was thought to be visually pleasing to consumers at the time of purchase. The change in color represents the ________ aspect of packaging.
Answer:
aesthetic
Explanation:
Based on the information provided within the question it can be said that the change in color represents the aesthetic aspect of packaging. An aesthetic aspect refers to making sure that the packaging has an overall pleasant, positive, beautiful, or artful appearance in order to evoke positive emotions on the viewer. Which in this scenario is exactly what Feather Tissues Inc. is trying to accomplish by changing the color from red to blue, in order to please/attract their customers and in term increase sales.
In the long run, when price is less than average total cost for all possible levels of production, a firm in a competitive market will choose to exit (or not enter) the market.
a. True
b. False
Answer:
a. True
Explanation:
A competitive market is a market in which there are many buyers and sellers. Also, sellers have similar goods and and they don't have the power to influence the market. This means that in a competitive market companies have to accept the price define by the market and if the price is less than average total cost for all possible levels of production, a firm in a competitive market will choose to exit (or not enter) the market as it doesn't have the possibility to do something to influence the price and it won't be able to make a profit. According to that, the statement is true.
Assume that the risk-free rate is 4.5% and the required return on the market is 13%. What is the required rate of return on a stock with a beta of 2
Answer:
Required rate of return= 21.5 %
Explanation:
The capital asset pricing model is a risk-based model. Here, the return on equity is dependent on the level of reaction of the the equity to changes in the return on a market portfolio. These changes are captured as systematic risk. The magnitude by which a stock is affected by systematic risk is measured by beta.
Under CAPM, Ke= Rf + β(Rm-Rf)
Rf-risk-free rate, β= Beta, Rm= Return on market.
Using this model,
Ke= 4.5% + 2(13-4.5%)
= 21.5 %
Required rate of return= 21.5 %
Trak Corporation incurred the following costs while manufacturing its bicycles.
Bicycle components $100,000 Advertising expense $45,000
Depreciation on plant 60,000 Property taxes on plant 14,000
Property taxes on store 7,500 Delivery expense 21,000
Labor costs of assembly-
line workers 110,000 Sales commissions 35,000
Factory supplies used 13,000 Salaries paid to sales clerks 50,000
Identify each of the above costs as direct materials, direct labor, manufacturing overhead, or period costs.
Bicycle components
Depreciation on plant
Property taxes on store
Labor costs of assembly-line workers
Factory supplies used
Advertising expense
Property taxes on plant
Delivery expense
Sales commissions
Salaries paid to sales clerks
Answer:
Required: Identify the costs as direct materials, direct labor, manufacturing overhead, or period costs.
They are classified below:
Bicycle components: DIRECT MATERIALS
Depreciation on plant: MANUFACTURING OVERHEAD
Property taxes on store: PERIOD COST
Labor costs of assembly-line workers: DIRECT LABOUR
Factory supplies used: MANUFACTURING OVERHEAD
Advertising expense: PERIOD COST
Property taxes on plant: MANUFACTURING OVERHEAD
Delivery expense: PERIOD COST
Sales commissions: PERIOD COST
Salaries paid to sales clerks: MANUFACTURING OVERHEAD
Definition of terms used:
Period cost is any cost incurred which was not directly involved during production.
Manufacturing overhead can be said to be indirect costs incurred during production.
Direct labour costs involves payment made to workers involved in production.
Direct materials cost are costs of raw materials used in production.
Therefore,
Bicycle components are classified as direct materials.
Depreciation on plant are classified as manufacturing overhead.
Property taxes on store are classified as period cost.
Labor costs of assembly-line workers are classified as direct labour.
Factory supplies used are classified as manufacturing overhead.
Advertising expense is classified as period cost
Property taxes on plant are classified as manufacturing overhead.
Delivery expenseis classified as period cost.
Sales commissions is classified as period cost.
Knowledge Check 01 Cartier Corporation currently sells its products for $50 per unit. The company’s variable costs are $20 per unit. Fixed expenses amount to a total of $5,000 per month. What is the company’s contribution margin ratio?
Answer:
Contribution margin ratio = 0.6 or 60%
Explanation:
The contribution margin per unit is the amount that each unit contributes to covering the total fixed costs. It is the contribution of each unit towards fixed costs after deducting the variable costs per unit from the selling price per unit.
The contribution margin ratio is the unit contribution margin expressed as a percentage of the selling price per unit.
Contribution margin ratio = Contribution margin per unit / Selling price per unit
Where,
Contribution margin per unit = Selling price per unit - Variable cost per unit
Contribution margin per unit = 50 - 20 = $30
Contribution margin ratio = 30 / 50 = 0.6 or 60%
Tate Company purchased equipment on November 1, 2015 and gave a 3-month, 9% note with a face value of $20,000. The December 31, 2015 adjusting entry is
Answer:
Dr Interest expense 300
Cr Interest payable 300
Explanation:
Preparation of December 31, 2015 adjusting entry for Tate Company
Since Tate Company had purchased the equipment on November 1, 2015 in which the company gave a 3-month with 9% note and a face value of $20,000, this means we have to record the transaction by Debiting Interest expense with 300 and Crediting Interest payable with the same amount . The amount of 300 is calculated as 2/12×9%×20,000
Therefore Tmthe December 31, 2015 adjusting entry will be :
Dr Interest expense 300
Cr Interest payable 300
After researching the different forms of business organization, Natalie Koebel decides to operate "Cookie Creations" as a corporation. She then starts the process of getting the business running. In November 2015, the following activities take place.
A. Natalie cashes her U.S. Savings Bonds and receives $520, which she deposits in her personal bank account.
B. She opens a bank account under the name "Cookie Creations" and transfers $500 from her personal account to the new account in exchange for common stock.
C. Natalie pays $65 to have advertising brochures and posters printed. She plans to distribute these as opportunities arise.
D. She buys baking supplies, such as flour, sugar, butter, and chocolate chips, for $125 cash.
E. Natalie starts to gather some baking equipment to take with her when teaching the cookie classes. She has an excellent top-of-the-line food processor and mixer that originally cost her $750. Natalie decides to start using it only in her new business. She estimates that the equipment is currently worth $300. She invests the equipment in the business in exchange for common stock.
F. Natalie realizes that her initial cash investment is not enough. Her grandmother lends her $2,000 cash, for which Natalie signs a note payable in the name of the business. Natalie deposits the money in the business bank account. (Hint: The note does not have to be repaid for 24 months. As a result, the notes payable should be reported in the accounts as the last liability and also on the balance sheet as the last liability.)
G. She buys more baking equipment for $900 cash.
H. She teaches her first class and collects $125 cash.
I. Natalie books a second class for December 4 for $150. She receives $30 cash in advance as a down Natalie pays $1,320 for a one-year insurance policy that will expire on December 1, 2016.
(a) Prepare journal entries to record the November transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
(b) Post the journal entries to general ledger accounts.
(c) Prepare a trial balance at November 30.
Answer:
ANatalie cashes her U.S. Savings Bonds and receives $520, which she deposits in her personal bank account.
Natalie cashes her U.S. Savings Bonds and receives $520, which she deposits in her personal bank account.
A hospital purchased new MRI equipment and intended to be used for 4 years. The information is given below. As part of the warranty agreement, the maintenance costs will be waived for the first 4 years. At MARR of 29% per year, determine the minimum revenue per year to realize the expected recovery and return.
Answer:
the information is missing but I looked for a similar question that can help as an example (hopefully it will be the same):
purchase cost $750,000
useful life 4 years, salvage value $150,000
discount rate 29%
in order to answer this question, we would need to calculate a cash flow that results in NPV = 0
0 = -$750,000 + CF/1.29 + CF/1.29² + CF/1.29³ + (CF + $150,000)/1.29⁴
$750,000 = CF/1.29 + CF/1.29² + CF/1.29³ + (CF + $150,000)/1.29⁴
$750,000 = 0.7752CF + 0.6009CF + 0.4658CF + 0.3611CF + $54,166.70
$695,833.30 = 2.203CF
CF = $695,833.30 / 2.203 = $315,857.15
Stormer Company reports the following amounts on its statement of cash flow: Net cash provided by operating activities was $35,500; net cash used in investing activities was $13,000 and net cash used in financing activities was $16,500. If the beginning cash balance is $6,500, what is the ending cash balance
Answer:
The answer is $38,500
Explanation:
Operating activities: Cash generated or used to run the day-to-day business operations.
Investing activities: Cash used for investing in assets like securities, bonds, equipment, or proceeds from these assets.
Financing activities: Cash generated from loan and/or payments made to reduce loan balances
Ending cash balance = Net Cash from operating activities + net cash from investing activities - net caash from financing activities + Beginning cash balance
Ending cash balance = $35,500 + $13,000 - $16,500 + $6,500
$38,500
When stocks are held in street name, Group of answer choices the investor receives a stock certificate without the owner's street address. the investor does not receive a stock certificate. the broker holds the stock in the brokerage firm's name on behalf of the client. the investor does not receive a stock certificate, and the broker holds the stock in the brokerage firm's name on behalf of the client. the investor receives a stock certificate with the owner's street address.
Answer:
the broker holds the stock in the brokerage firm's name on behalf of the client.
Explanation:
In simple words, A security would be carried in "street name," when that is retained by a fund manager or a brokerage on a client 's behest. The title appearing on such stock or bond certification is the buyer 's definition however the person paying for the shares maintains property rights.
If brokers held the physical access credentials, the danger of psychical damage , loss as well as robbery would boost. Brokerage firms are able to maintain the shares electronically by retaining them in street names.
which 2 statements regarding intuit approved quickbooks online apps are true? Select all that apply 1. It is recommended that the master administrator of the quickbooks company complete the setup. 2.You can sign up for quickbooks payments fro the dashboard in quickbooks online. 3. You can connect an existing qucibooks payments,Go payment or intiut merchant services account 4.it is a best practice for the proadvisor to complete and sign the quickbooks paymment agreement on behalf of client 5. you mus record the receive payment for each invoice paid using the pay on button.
Answer:
1. It is recommended that the master administrator of the quick-books company complete the setup.
3. You can connect an existing quick-books payments, Go payment or intuit merchant services account.
Explanation:
Quickbook is an accounting software which help in recording and processing a financial transaction. This software is best suited for small to medium sized organisations. Master administrator has all the access rights of a company administrator. Master administrator is the one who initially creates the quick book company file and he is then assigned as Master administrator.
The Quickbook is accounting software that helps in recording and processing financial transactions that are in monetary terms. This software is easy to access and therefore best for small and medium-sized business firms.
The 2 statements that are true about the intuit approach in the app are as follows:
1. It is recommended that the master administrator of the quick-books company complete the setup.
3. You can connect an existing quick-books payment, Go payment, or intuit merchant services account.
Under the Quickbook online apps, there is a Master administrator that gives access to all the rights of the business to the operating administrator. The master administrator is known for making or creating the initial book in the Quickbooks company file.
To know more about Quickbook, refer to the link:
https://brainly.com/question/17490243
The absorption-cost approach is used by most companies for all of the following reasons except that:______a) absorption cost information is readily provided by a company’s cost accounting system.b) basing prices on only variable costs could encourage managers to set too low a price to boost sales.c) this approach is more consistent with cost-volume-profit analysis.d) absorption cost provides the most defensible bases for justifying prices to interested parties
Answer:
c) this approach is more consistent with cost-volume-profit analysis.
Explanation:
The absorption costs does not separate the fixed costs and variable cost for profit determination.
This hence, is not adequate for internal purposes of as it does not provide management accountants of the changes in fixed and variable costs that arise as a result of changes in levels of sales demand.
Thus this method is not consistent with cost-volume-profit analysis.
Identify the best definition of money. whatever serves society in three functions: medium of exchange, store of value, and unit of account paper bills and coins metal or paper currency produced by governments to enable the exchange of goods and services the exchange of goods and services enabled via the double coincidence of wants
Answer:
Unit account of paper bills
Explanation:
I took test during school
A post-closing trial balance will reflect balances, after closing entires have been posted to reset the temporary accounts as follows:
A) zero balances for balance sheet accounts.
B) Balances only showing in income statement accounts
C) Balances only showing for balance sheet accounts.
D) zero balances for all accounts.
Answer: C) Balances only showing for balance sheet accounts.
Explanation:
A Post-Closing Trial Balance is used to match debits with credits to ensure that they are equal. It will however contain no items from the Income statement because those were considered to be temporary accounts that are part of the calculation of Retained Earnings and have thus have been dissolved during the Closing process.
This Trial Balance will therefore only have Balance Sheet items listed in it.
The new union president has proposed a couple of ideas that are very unusual: 1. "We should make an effort to help solve problems in the business." 2. "We should encourage our members who have the right experience and training to apply for supervisor jobs." Are these ideas good or not?
Answer:
In simple words, supervisory jobs refers to those jobs in which an individual has to monitor the performance of other individuals working under his or her direction and guidance.
The opinion of the president, therefore, is not bad as an employee with relevant experience gets a certain respect and have adequate level of knowledge for teaching others.
1. A stock has an expected return of 10.2 percent, the risk-free rate is 4.1 percent, and the market risk premium is 7.2 percent. What must the beta of this stock be?
Answer:
Beta is 0.85
Explanation:
The value of Beta can de derived from the CAPM formula of expected return
expected return=risk-free rate+Beta*market risk premium
expected return is 10.2%
risk-free rate is 4.10%
market risk premium is 7.2%
Beta is unknown
10.20%=4.10%+Beta*7.20%
10.20%-4.10%=Beta*7.20%
6.10% ==Beta*7.20%
Beta=6.10% /7.20%
Beta= 0.85
The Maine Media Workshop is similar to____________ because the people who take classes there learn by doing.
1. mentoring,
2. on-the-job training,
3. corporate University
Answer:
On-the-job training
Explanation:
Maine Media Workshop is similar to ON-THE-JOB TRAINING, reason been that the people, employees or workers who take classes there learn by doing.
On the job training can be defined as a training which is provided at the workplace in which the during the training, employees are
familiarized with the working environment which is why On-the-Job Training is tend to be based on the principle of learning by doing because the workers or the empolyees learn the job while performing it within their workplace environment or while the employees are doing the actual job.
Hence ,On-the-job training which is also known as OJT enables or help employees to gain hands on knowledge in their workplace or work environment.
Therefore a Managers who want or desire to keep their employees or workers training costs as low as possible should make use of ON -THE-JOB TRAINING.
Ireland Corporation obtained a $40,000 note receivable from a customer on June 30, 2011. The note, along with interest at 6%, is due on June 30, 2012. On September 30, 2011, Ireland discounted the note at Cloverdale bank. The bank's discount rate is 10%. What amount of cash did Ireland receive from Cloverdale Bank
Answer:
$39,220
Explanation:
The maturity value of the note receivable on June 30, 2012
= Principal + Interest
= $40,000 + $40,000 x 6%
= $40,000 + $2,400
= $ 42,400
The note is discounted on September 30, 2011. Time period remaining to go till maturity as on September 30, 2011
= 12 - 3 months ( July, Aug and Sep)
= 9 months.
Amount of deduction
= $ 42,400 x 10% x 9/12
= $ 3,180
Finally, the Cash received by Ireland will be
= Maturity value - Discount
= $42,400 - $ 3,180
= $39,220
The effective management of diversity can enhance the social responsibility goals of an organization. Other areas where sound management of diverse workforces can improve the effectiveness of an organization and its competitive advantages include all but one of the following?
a. Problem creation
b. Organizational flexibility
c. Marketing
d. Resource acquisition
Answer:
The correct answer is the option A: Problem creation.
Explanation:
To begin with, when it comes to diversity in the organization the right management of it can ensure the fact of increase the development and growth of the company in its whole, and moreover when it comes to areas that are really needed of diversity of thoughts and cultures in general. Therefore that the marketing area, the resource acquisiton and organization flexibility are the areas that obviously would be benefit by the increase of the diversity of the workforce so that the effectiveness of the organization as a whole will be increase as well too.
On December 2, 2018, Eshares, Inc. purchases land. In payment for the land, Eshares, Inc. issues 6 comma 000shares of common stock with $ 10par value. The land has been appraised at a market value of $ 480 comma 000.Which of the following is included in the journal entry to record this transaction?
a. debit Cash $500,000
b. credit Common Stock-$10.00 Par Value for $100.000 and credit Paid-In Capital in Excess of Par-Common $400000
c. $1000 Par Value for S100 000 and debit Paid-In Capital in Excess of Par debit omm on Stock -Common $400,000
d. credit Common Stock--$10 00 Par Value for $500,000 Click to select your answer
Answer:
Credit Common Stock $ 10 Par Value for $ 60,000 and Credit Paid-In Capital in Excess of Par-Common $ 420, 000
Explanation:
Since we were told that On December 2, 2018, Eshares, Inc. purchases a land in which Eshares issues 6 ,000 shares of common stock with $ 10par value and the land was appraised at a market value of $ 480,000 this means the Journal entry will be recorded as:
Credit Common Stock $ 10 Par Value for $ 60,000
Credit Paid-In Capital in Excess of Par-Common $ 420, 000
Calculated as:
Common stock = 6,000 shares x $10 = $60,000
Paid-in Excess of par = $480,000 - $60,000
= $420,000