Answer:
The journal entries will be recorded as follows
Explanation:
1. DR Cash $46,800
CR Capital $46,800
2. DR Sales $6,470
CR Inventory $4,300
CR Profit $2,170
3. DR Inventory $7,450
CR Bank $7,450
14. DR Salaries Expense $900
CR Bank $900
16. DR Account Receivable $810
CR Inventory $605
CR Profit $205
22. DR Cash $8,830
CR Accounts Receivable $8,830
Apple’s Steve Jobs and Tim Cook have different leadership styles. Steve Jobs’ leadership is characterized as ___________ , whereas Tim Cook uses the ___________ style of leadership.
Answer: autocratic; democratic.
Explanation:
Steve Jobs has an autocratic leadership style. This is a type of leader whom dictates policies, controls all activities and decides on the goals that are to be achieved. Such leader has the full control of the team and doesn't consider the input from the subordinates.
On the other hand, Tim Cook uses a democratic leadership style. This is when the leader allows the subordinates participates and values their input. There's brainstorming which helps innovation and us required for decision making.
Retro Rides, Incorporated, operates two divisions: (1) a Management Division that owns and manages classic automobile rentals in Miami, Florida and (2) a Repair Division that restores classic automobiles in Clearwater, Florida. The Repair Division works on classic motorcycles, as well as other classic automobiles. The Repair Division has an estimated variable cost of $60.50 per labor-hour and has a backlog of work for automobile restoration. They charge $80.00 per hour for labor, which is standard for this type of work. The Management Division complained that it could hire its own repair workers for $62.00 per hour, including leasing an adequate work area. What is the minimum transfer price per hour that the Repair Division should obtain for its services, assuming it is operating at capacity?
A) $28.50.
B) $30.00.
C) $39.00.
D) $48.00.
Answer:
D) $48
Explanation:
The minimum transfer price for the Repair division will be the variable cost which is standard for the same type of work. In the given scenario the price is $80 which is the maximum transfer price while $48 will be the minimum transfer price for Repair division.
Helen, age 17, wanted to buy a motorcycle. She did not have the money to pay cash but persuaded the dealer to sell a cycle to her on credit. The dealer did so partly because Helen said that she was 22 and showed the dealer an identification card that falsely stated her age as 22. Helen drove the motorcycle away. A few days later, she damaged it and then returned it to the dealer and stated that she voided the contract because she was a minor. The dealer said that she could not do so because (a) she had misrepresented her age and (b) the motorcycle was damaged. Can she void the contract
Answer:
Yes
Explanation:
Yes, based on the information given SHE CAN VOID THE CONTRACT due to FALSELY MISREPRESENTATION of her age from her real age of 17 to the false age of 22 to the dealer of the motorcycle which therefore means that she have to pay for the motorcycle damages cause by her reason been that only the person who initiated the contract CAN VOID THE CONTRACT due to the fact that its fraudulent.
A $1,000 face value coupon bond will pay 5 percent interest annually for 12 years. What is the percentage change in the price of this bond if the market yield rises to 6 percent from the current level of 5.5 percent
Answer:
-4.26%
Explanation:
The computation of the percentage change in the price of the bond is shown below:
When the rate of interest is 6%, so the present value is
Given that
FV = $1,000
PMT = $50
NPER = 12
RATE = 6%
The formula is shown below;
=-PV(RATE,NPER,PMT,FV,TYPE)
After applying the above formula, the present value is $916.16
Now When the rate of interest is 5.5%, so the present value is
Given that
FV = $1,000
PMT = $60
NPER = 12
RATE = 5.5%
The formula is shown below;
=-PV(RATE,NPER,PMT,FV,TYPE)
After applying the above formula, the present value is $956.61
So, the percentage change in the price is
= ($916.16 - $956.61) ÷ $956.61
= -4.26%
. True / False. The hedonic property value method can be used to estimate lost non-use value associated with oil pollution at remote, uninhabited locations. Explain. (3 points)
Answer:
False.
Explanation:
The hedonic property value method determines the extent that environmental or ecosystem factors affect the price of a home. This implies that the method cannot be used to estimate lost, non-use value associated with oil pollution at remote, uninhabited locations, as stated in the question. Since the hedonic property value method is used to estimate the housing prices that reflect the value of local environmental attributes, it is not useful for uninhabited, remote locations and properties.
Initiate, Inc. a 501 organization, receives the following revenues and incurs the following expenses. Grant from Gates Foundation 70,000 Charitable contributions received 625,000 Expenses in carrying out its exempt mission 500,000 Net income before taxes of landscaping inc. 400,000 a wholly owned for profit subsidiary Landscaping Inc. remits all of its after tax profits each year to Initiate. Calculate the amount of the Federal income tax, if any, for Initiate for Landscaping.
Answer:
136,000
Explanation:
Calculation to the amount of the Federal income tax, if any, for Initiate for Landscaping.
Based on the information given the amount of $400,000 will be subjected to the corporate income tax rates totaling the amount of $136,000 which is calculated as ($400,000 x 34%).
Therefore the amount of the Federal income tax, if any, for Initiate for Landscaping will be $136,000
McPhail Corporation $100 face value fixed-rate perpetual preferred stock pays an annual dividend of $5.75 per share. What is the value of one share of this stock to an investor who requires a rate of return of 6.25%
Answer:
$92
Explanation:
Value per share of preferred stock = Annual dividend / Required rate of return
Annual dividend = $5.75 per share
Required rate of return = 6.25%
Value of one share of this stock = $5.75/6.25%
Value of one share of this stock = $5.75/0.0625
Value of one share of this stock = $92
The Forest Organization successfully manages its prices by creating a pricing infrastructure within the company. Forest managers feel that creating the right pricing strategy is important. The Forest Organization does all of the following EXCEPT _______. a. search for ways to create greater customer value b. define pricing goals c. assign authority and responsibility for pricing decisions d. use traditional tools and systems to maintain current pricing decisions
Answer:
The correct answer is the option D: Use traditional tools and systems to maintain current pricing decisions.
Explanation:
To begin with, in the field of marketing and business the pricing strategy is a very important part of the four "Ps" that involves the marketing campaign that the company has to have in order to launch a product that will impact the market as good as possible. So that is whay that the organization has to have expertis in this area in order to achieve a price that can reflect not just the value of the product but also the purchasing power of the target audience that the company wants to reach. Therefore that the Forest Organization will search for ways to create greater customer value, define pricing goals and assign authority and responsibility for pricing decisions in order to achieve a right pricing strategy.
Lynne is responsible for training in a South Brunswick School District. Her job requirements are not associated with any particular management specialty. Lynne is working in what functional area? A) Operations B) Finance C) Production D) Marketing E) Administration
Answer:
E) Administration
Explanation:
An employee can be defined as an individual who is employed by an employer of labor to perform specific tasks, duties or functions in an organization.
Basically, an employee is saddled with the responsibility of providing specific services to the organization or company where he is currently employed while being paid a certain amount of money hourly, daily, weekly, or monthly depending on the contractual agreement between the two parties (employer and employee).
Hence, while an employer may be the owner of a business firm or company, an employee is a subordinate employed to provide unwavering services to the employer while also, being professional and diligent at all times.
In this scenario, Lynne is saddled with the responsibility of training in a South Brunswick School District.
However, herr job requirements are not associated with any particular management specialty. Thus, Lynne is working in administration.
Administration is typically associated with the smooth tasks of a running a business
A perfectly elastic demand curve implies that the firm Select one: a. The demand curve for a purely competitive firm is downsloping, but the demand curve for a purely competitive industry is perfectly elastic. b. The demand curves are perfectly elastic for both a purely competitive firm and a purely competitive industry. c. The demand curves are downsloping for both a purely competitive firm and a purely competitive industry. d. The demand curve for a purely competitive firm is perfectly elastic, but the demand curve for a purely competitive industry is downsloping.
Answer: d. The demand curve for a purely competitive firm is perfectly elastic, but the demand curve for a purely competitive industry is downsloping.
Explanation:
In a purely competitive market, all the firms are selling the same product so there is a lot of competition. The market sets the price in this industry at the point where quantity demanded equals quantity supplied and the demand curve for the whole industry is downward sloping.
When it comes to the demand curve for the individual firm however, it is elastic because price is not set by the firm. This perfectly elastic demand shows that if the firm tries to sell at a price that is different from the market, quantity demanded from that firm would change by infinity because people would prefer the market price.
Miscavage Corporation has two divisions: the Beta Division and the Alpha Division. The Beta Division has sales of $305,000, variable expenses of $153,600, and traceable fixed expenses of $70,800. The Alpha Division has sales of $615,000, variable expenses of $337,800, and traceable fixed expenses of $132,700. The total amount of common fixed expenses not traceable to the individual divisions is $134,200. What is the company's net operating income
Answer:
$2,000
Explanation:
net operating income = total contribution - common fixed expenses
Estimated manufacturing overhead for the year $30,000 Estimated direct labor hours for the year 2,000 Two jobs were worked on during the year: Job A-101 and Job A-102. The number of direct labor-hours spent on Job A-101 and Job A-102 were 1,200 and 1,000, respectively. The actual manufacturing overhead was $37,000. What is the predetermined manufacturing overhead rate per direct labor hour for the year
Answer:
$15.00 per direct labor hour
Explanation:
predetermined manufacturing overhead rate = Budgeted overheads ÷ Budgeted Activity
= $30,000 ÷ 2,000 hours
= $15.00
thus,
The predetermined manufacturing overhead rate per direct labor hour for the year is $15.00 per direct labor hour
Following is information from Best Industries for Year 1. Total Year 1 revenue $1,977,040 Projected revenue growth rate, for next five years 3% Terminal revenue growth rate, after year 5 1% Net operating profit margin (NPM) 6.4% Net operating asset turnover (NOAT) 2.35 Projected Year 3 total revenue would be Select one:
Answer: $2,097,442.2
Explanation:
Projected Year 3 total revenue would be calculated thus:
Since the revenue will increase at the rate of 3% for every year and year 3, there'll be 2 years from year 1, this will then be expressed as:
= Total Year 1 revenue × (1 + 3%)²
= $1,977,040 × (1 + 0.03)²
= $1,977,040 × 1.03²
= $1,977,040 × 1.0609
= $2,097,442.2
In the current year, the not-for-profit organization (NFP) How to Read Government Financial Reports received both cash of $1,000 and pledges of $2,000 to be used for teaching citizens how to read government financial reports. During the year the organization spent $1,500 teaching citizens to read financial statements. Assuming the NFP has a policy of spending its restricted resources first, in the current year what amount of contributions can be reclassified as unrestricted
Answer:
$ 1,000
Explanation:
When the NFP organizations spends any amount of money for the purpose of an external donor that is intended, the expense is reported as the decrease in the unrestricted of net assets.
In the context, it is given that cash received = $ 1000
Pledges to be used for the teaching citizens for the financial reports = $ 2,000
Amount spent by the organization = $ 1500
Therefore, as per the policy of the spending in the restricted resources, the amount of contributions in the current year that can be reclassified as unrestricted amount = $ 1,000.00
You are cautiously bullish on the common stock of the Wildwood Corporation over the next several months. The current price of the stock is $64 per share. You want to establish a bullish money spread to help limit the cost of your option position. You find the following option quotes:
Wildwoood Corp Underlying Stock price: $64.00
Expiration Strike Call Put
June 59.00 9.90 3.40
June 64.00 5.20 4.40
June 69.00 2.70 8.90
Suppose you establish a bullish spread with the puts. In June the stock's price turns out to be $58. Ignoring commissions, the net profit on your position is__________.a. $100.b. $185.c. $628.d. $528.
Answer:
a. $100.
Explanation:
The wildwood Corp will consider the spot price to find the difference in call and put. The maximum price for profit is either 0 or $58 - $64
Profit = [ $58 - $64 - $69 - $64 ] * 100
Blue Lite manufactures decorative weather vanes that have a standard materials cost of two pounds of raw materials at $2 per pound. During November 500 pounds of raw materials costing $4 per pound were used in making 450 weather vanes. The materials price and quantity variance are: Group of answer choices
Answer: See explanation
Explanation:
The material price variance will be calculated as:
= (Standard price - Actual price) × Actual quantity of material used
= ($2 - $4) × 500
= -$2 × 500
= $-1000
= $1000 Unfavourable
The material quantity variance will be:
= Standard quantity - Actual quantity) × Standard price
=[(450 × 2) -500] × $2.00
= (900 - 500) × $2.00
= 400 × $2.00
= $800 Favorable
What is the decrease in the overall value of an asset called?
A.
depreciation
B.
deceleration
C.
amortization
D.
disinvestment
Hamix Co. is evaluating a new 4-year project. The equipment necessary for the project will cost $3,550,000 and can be sold for $720,000 at the end of the project. The asset is in the 5-year MACRS class. The depreciation percentage each year is 20.00 percent, 32.00 percent, 19.20 percent, 11.52 percent, and 11.52 percent, respectively. The company's tax rate is 35 percent. What is the aftertax salvage value of the equipment?
Answer:
3845y6374556439
Explanation:
A company’s flexible budget for last month shows that actual indirect materials cost, an overhead variable cost, was $31,178, and that the rate variance for indirect materials cost was $2,261 unfavorable. The company uses machine hours as its cost-allocation base for allocating manufacturing overhead. During that month, the company worked 11,900 machine-hours. Budgeted activity for the month had been 12,200 machine-hours. What must have been the standard rate per machine-hour for indirect materials?
Answer:
The right answer is "$2.43".
Explanation:
The given values are:
Overhead material cost,
= $31,178
Rate variance (unfavorable),
= $2,261
Company worked,
= 11,900 hours
Budgeted activity,
= 12,200 hours
Now,
The budgeted material cost will be:
= [tex]Overhead \ material \ cost-Rate \ variance[/tex]
= [tex]31178-2261[/tex]
= [tex]28917[/tex] ($)
hence,
For indirect materials, the rate per machine hour will be:
= [tex]\frac{Budgeted \ materials \ cost}{Company \ worked \ hours}[/tex]
= [tex]\frac{28917}{11900}[/tex]
= [tex]2.43[/tex]
Which economic goal is encroached upon when the government taxes your wages in order to provide unemployment
benefits to help those out of work?
A. economic equity
B. economic stability
C. economic freedom
D. economic efficiency
Yasmin Company manufactures luggage sets. Yasmin sells its luggage sets to department stores. Yasmin expects to sell 1,750 luggage sets for $210 each in January and 2,000 luggage sets for $210 each in February. All sales are cash only. Prepare the sales budget for January and February.
Answer:
January = $367,500
February = $420,000
Explanation:
The Sales Budget shows the Estimated Revenue for a Particular Period.
Estimated Revenue = Units Sold x Unit Price
therefore,
January = $367,500
February = $420,000
The degree of customer contact measuresthe amount of time the customer is separated from the service delivery system.the amount of time the customer is in the service delivery system.the customization abilities of the service system.The content of service-product bundle.
Answer:
the amount of time the customer is in the service delivery system.
Explanation:
In the case when there is a degree of contacting the customer determined that the value of the time that the customer would be in the system that represent the delivery of the service at the time when the service is generally produced or
So as per the given situtaion, the above statement represent the answer
Beyer Company is considering the purchase of an asset for $185,000. It is expected to produce the following net cash flows. The cash flows occur evenly within each year. Assume that Beyer requires a 12% return on its investments. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.) Year 1 Year 2 Year 3 Year 4 Year 5 Total Net cash flows $ 87,000 $ 46,000 $ 72,000 $ 132,000 $ 41,000 $ 378,000 a. Compute the net present value of this investment. b. Should Beyer accept the investment
Answer:
a. $87,750.56
b. Accept the investment, because it gives a positive net present value.
Explanation:
the net present value is the today`s value of future cash flows. We determine the net present value by discounting the future cash flow using the required return or the cost of capital.
Using a Financial calculator this can be determined as :
- $185,000 CF0
$ 87,000 CF 1
$ 46,000 CF 2
$ 72,000 CF 3
$ 132,000 CF 4
$ 41,000 CF 5
i/yr = 12%
Then, SHIFT NPV gives $87,750.56
We accept an investment only and only if it has a positive net present value.
Impact of globalization on HR
Example of job analysis template with answers
Olsen Company paid or collected during 2020 the following items: Insurance premiums paid $ 30,800 Interest collected 69,800 Salaries paid 280,400 The following balances have been excerpted from Olsen's balance sheets: December 31, 2020 December 31, 2019 Prepaid insurance $ 2,400 $ 3,000 Interest receivable 7,400 5,800 Salaries and wages payable 24,600 21,200 The interest revenue recorded in the income statement for 2020 was
Answer:
See below
Explanation:
Given the above information, first we will calculate the current year expenses paid in the current year
= $280,400 - $21,200
= $259,200
Next is to compute expense of current year not paid
= $259,200 + $24,600
= $283,800
What are the implications of CIC’s approach to staffing project teams? Is the company using project teams as training grounds for talented fast-trackers, or as dumping grounds for poor performers?
Answer:
CIC's methodology to projects team employment is based on functional structure. It gathers team individuals from several departments. They grant team players very little influence. They are not permitted to review the effectiveness of task team participants however, operational heads are permitted to do so.
Training under this approach is a very positive thing and should be welcomed by the individuals. It gives the the candidates to enhance their skill and become appropriate for the job environment.
Sue purchased a stock for 45 a share, held it for one year received a 2.34 divided and sold the stock for 46.45. what nominal rate of return did she earn?
Answer:
8.4
Explanation:
nominal return - price return + dividend yield
price return = 46.45 /45 - 1 = 3.2%
dividend yield = 2.34 / 45 = 5.2%
On March 1, year 1, a suit was filed against Dean Company for patent infringement. Dean's legal counsel believes an unfavorable outcome is probable, and estimates that Dean will have to pay between $500,000 and $900,000 in damages. However, Dean's legal counsel is of the opinion that $600,000 is a better estimate than any other amount in the range. The situation was unchanged when the December 31, year 1 financial statements were released on February 24, year 2. How much of a liability should Dean report on its balance sheet at December 31, year 1 in connection with this suit
Answer:
$600,000
Explanation:
Based on the information given in a situation where the amount of $600,000 was a better estimate than any other amount given in the range by the legal counsel ( Dean) which means that the amount of LIABILITY that Dean should report on its balance sheet at December 31, year 1 in connection with this suit will be the estimated amount of $600,000.
Bronks Co. had pension plan assets and PBO of $160,000 on 1/1/19. Service cost for the year was $40,000. It contributed $30,000 during the year and paid benefits of $20,000. The interest rate was 10%. The actual return was $15,000. Compute pension expense, PBO and PA at the end of the year.
Answer:
Pension expense:
= Service cost + Interest on PBO - actual return
= 40,000 + (10% * 160,000) - 15,000
= $41,000
PBO at end of year:
= Beginning PBO+ Service cost + Interest on PBO - Benefits paid
= 160,000 + 40,000 + (10% * 160,000) - 20,000
= $196,000
Pension Assets at end of year:
= Beginning PBO + Return + Contribution - Benefits
= 160,000 + 15,000 + 30,000 - 20,000
= $185,000