Answer:
Trademark
Explanation:
The “R” inside the circle stands for “registered.” The “R” and circle together form the federal trademark registration symbol. In commerce, the symbol shows that your business officially owns its trademark by U.S. Patent and Trade Office (pto.gov) standards.
Note:
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How does information management differ from a management information system (MIS) ?
Answer:
the main difference between management information system and decision support system is that the management information system (MIS) supports structured decision making while the decision support system (DSS) provides support for unstructured or semi-structured decisions.
A person who is an entrepreneur is also a businessperson. true or false?
Answer:
False
Explanation:
A person who brings his unique idea to run a startup company is known as an entrepreneur. A businessman is a person who starts a business on an old concept or idea. The businessman is a market player while Entrepreneur is a market leader because he is the first to start such a kind of enterprise.
Ravine Corporation purchased 30 percent ownership of Valley Industries for $94,800 on January 1, 20X6, when Valley had capital stock of $260,000 and retained earnings of $56,000. During the period of January 1, 20X6, through December 31, 20X9, the market value of Ravine's investment in Valley's stock increased by $11,000 each year. The following data were reported by the companies for the years 20X6 through 20X9:
Dividends Declared
Year Operating Income, Ravine Corporation Net Income, Valley Industries Ravine Valley
20X6 $ 140,000 $ 30,000 $ 70,000 $ 20,000
20X7 80,000 50,000 70,000 40,000
20X8 220,000 10,000 90,000 40,000
20X9 160,000 40,000 100,000 20,000
Required:
a. What net income would Ravine Corporation have reported for each of the years, assuming Ravine accounts for the intercorporate investment using the cost method and the equity method?
b-1. Give all appropriate journal entries for 20X8 that Ravine made under the cost method. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Answer:
A. Ravine Corporation net income using the cost method
20X6 Net income=$146,000
20X7 Net income=$92,000
20X8 Net income =$229,000
20X9 Net income=$166,000
Ravine Corporation net income using the equity method
20X6 Net income=$149,000
20X7 Net income=$95,000
20X8 Net income=$223,000
20X9 Net income=$172,000
b-1 Dr Cash $12,000
Cr Dividend income $9,000
Cr Investment in S $3,000
b-2 Dr Cash $12,000
Cr Investment in S $12,000
Dr Investment in Valley stock $3,000
Cr Income from S $3,000
Explanation:
a. Calculation for what net income would Ravine Corporation have reported for each of the years
Ravine Corporation net income using the cost method
20X6 Net income= $140,000 + 0.30($20,000)
20X6 Net income=$146,000
20X7 Net income= $80,000 + 0.30($40,000)
20X7 Net income=$92,000
20X8 Net income= $220,000 + 0.30($30,000)
20X8 Net income =$229,000
20X9 Net income= $160,000 + 0.30($20,000)
20X9 Net income=$166,000
Calculation 20X8 Dividend declared
Dividend declared=($30,000 + $50,000 – $20,000 – $40,000 )+ $10,000
Dividend declared=$20,000+$10,000
Dividend declared=$30,000
Ravine Corporation net income using the equity method
20X6 Net income= $140,000 + 0.30($30,000)
20X6 Net income=$149,000
20X7 Net income= $ 80,000 + 0.30($50,000)
20X7 Net income=$95,000
20X8 Net income=$220,000 + 0.30($10,000)
20X8 Net income=$223,000
20X9 Net income=$160,000 + 0.30($40,000)
20X9 Net income=$172,000
b-1 Preparation of the journal entries for 20X8 that Ravine made under the cost method
Dr Cash $12,000
(0.30*$40,000)
Cr Dividend income $9,000
(0.30*$30,000)
Cr Investment in S $3,000
($12,000-$9,000)
b-2 Preparation of the journal entries for 20X8 that Ravine made under the Equity method
Dr Cash $12,000
Cr Investment in S $12,000
(0.30*$40,000)
Dr Investment in Valley stock $3,000
Cr Income from S $3,000
($12,000-$9,000)
On January 1, 2018, Bradley Recreational Products issued $120,000, 8%, four-year bonds. Interest is paid semiannually on June 30 and December 31. The bonds were issued at $112,244 to yield an annual return of 10%. (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. Prepare an amortization schedule that determines interest at the effective interest rate. 2. Prepare an amortization schedule by the straight-line method. 3. Prepare the journal entries to record interest expense on June 30, 2020, by each of the two approaches. 5. Assuming the market rate is still 10%, what price would a second investor pay the first investor on June 30, 2020, for $12,000 of the bonds
Answer:
Answer is explained in the explanation section below.
Explanation:
Part 1:
Effective Interest Method:
Payment Cash Payment Effective Interest Increase Balance Carrying Value
$$112,244
1. $4,800 $5,612 $812 $113,056
2. $4,800 $5,653 $853 $113,909
3. $4,800 $5,695 $895 $114,804
4. $4,800 $5,740 $940 $115,745
5. $4,800 $5,787 $987 $116,732
6. $4,800 $5,837 $1,037 $117,769
7. $4,800 $5,888 $1,088 $118,857
8. $4,800 $5,943 $1,143 $120,000
Totals $38,400 $46,156 $7,756
Calculations:
Cash payment = $120,000 x 4% = $4,800
Effective interest = Preceding carrying value x 5%
Increase in balance = Effective interest - Cash payment
Carrying value = Preceding carrying value + Increase in balance
Solution to part 2:
Similarly, we will be doing the part 2. Since, it is difficult to put here all the entries of the table. So, I have attached the tabulated part of the solution of part 2 in the attachment. Please refer to it.
Straight Line Method: Please refer to the attachment named Straight Line
Calculations used in the solution of part 2 are:
Cash payment = $120,000 x 4% = $5,600
Increase in balance = [$120,000-$112,244] ÷ 8 payments = $969.50
Effective interest = Cash payment + Increase in balance
Carrying value = Preceding carrying value + Increase in balance
Solution to Part 3:
In this we have to prepare the journal entries by each of the two approaches done above. So, for your ease, I have tabulated it and attached in the attachment below. Please refer to attachment named as Effective Interest Method Solution to part 3 and Straight Line method Solution to part 3:
Solution to part 5:
As, Carrying value of $12000 on June 30,2020 is $116,732
Thus, price of the bonds of $12,000 on June 30,2020 is $11,673
Roscoe Company purchased equipment on November 1, 2020 and gave a 9-month, 5% note with a face value of $42,139 to pay for the equipment. Interest and principle are paid back when the entire loan is due. What is the amount of total cash paid back at the end of the loan, including principle and interest (this is a simple interest loan)
Answer:
$44,070.44
Explanation:
Simple interest formula = P*R*T
Where P = Loan amount = $42,139 , R = Rate on interest = 5% per year, N = 11 month/0.9167
Interest = 42,139*5%*0.9167
Interest = 42,139*0.05*0.9167
Interest = 1931.441065
Interest = $1,931.44
Total amount payable after 11 months = $42,139 + $1,931.44 = $44,070.44
Hochberg Corporation uses an activity-based costing system with the following three activity cost pools: Activity Cost Pool Total Activity Fabrication 50,000 machine-hours Order processing 625 orders Other Not applicable The Other activity cost pool is used to accumulate costs of idle capacity and organization-sustaining costs. The company has provided the following data concerning its costs: Wages and salaries $ 461,000 Depreciation 123,000 Occupancy 207,000 Total $ 791,000 The distribution of resource consumption across activity cost pools is given below: Activity Cost Pools Fabricating Order Processing Other Total Wages and salaries 15% 65% 20% 100% Depreciation 15% 40% 45% 100% Occupancy 20% 75% 5% 100% The activity rate for the Fabrication activity cost pool is closest to:
Answer:
$2.58 per machine hour
Explanation:
The computation of the fabrication activity cost pool activity rate is
= ($461,000 × 15%) + ($123,000 × 15%) + ($207,000 × 20%) ÷ 50,000 machine hours
= ($69,150 + $18,450 + $41,400) ÷ 50,000 machine hours
= $2.58 per machine hour
Conrad, Inc. recently lost a portion of its records in an office fire. The following information was salvaged from the accounting records. Cost of Goods Sold $66,500 Work-in-Process Inventory, Beginning 11,100 Work-in-Process Inventory, Ending 9,300Selling and Administrative Expense 15,750 Finished Goods Inventory, Ending 15,825Finished Goods Inventory, Beginning Direct Materials Used Skipped Factory Overhead Applied 12,300Operating Income 14,165 Direct Materials Inventory, Beginning 11,135 Direct Materials Inventory, Ending 6,105Cost of Goods Manufactured 61,410 Direct labor cost incurred during the period amounted to 1.5 times the factory overhead. The CFO of Conrad, Inc. has asked you to recalculate the following accounts and to report to him by the end of the day. What is the amount in the finished goods inventory at the beginning of the year?
Answer:
$20,915
Explanation:
The computation of the beginning finished goods inventory is shown below:
As we know that
Cost of goods sold = Opening finished goods inventory + Cost of goods manufactured - closing finished goods inventory
$66,500 = Opening finished goods inventory + $61,410 - $15,825
So, the opening finished goods inventory is
= $66,500 - $61,410 + $15,825
= $20,915
What is a bank run?
Select the best answer from the choices provided.
O A when new banks open and give higher interest rates, encouraging customers to rush to the bank and open up savings
accounts
OB. when people, afraid their bank would close, would rush to take their money out of it, causing the bank to collapse
OC when several new banks open in the same region within a short period of time
OD. when multiple banks in the same region all close within a short period of time
Answer:
OB
Explanation:
A bank run occurs when many clients withdraw their money from a bank, because they believe the bank may cease to function in the near future
why the feedback form is so important for the trainer and the training itself?
Answer:
It tells on how he or she can improve his ways of training based on the previous people he or she trained feedbacks.
hmmm.. good question,the feedback means.. like.. what I say is ya it's important words for English I use much these words
Differential Analysis for a Lease or Sell Decision Granite Construction Company is considering selling excess machinery with a book value of $281,300 (original cost of $401,500 less accumulated depreciation of $120,200) for $275,000, less a 5% brokerage commission. Alternatively, the machinery can be leased for a total of $283,300 for five years, after which it is expected to have no residual value. During the period of the lease, Granite Construction Company's costs of repairs, insurance, and property tax expenses are expected to be $26,200. a. Prepare a differential analysis, dated November 7 to determine whether Granite should lease (Alternative 1) or sell (Alternative 2) the machinery. Differential Analysis Lease Machinery (Alt. 1) or Sell Machinery (Alt. 2) November 7 Lease Machinery (Alternative 1) Sell Machinery (Alternative 2) Differential Effect on Income (Alternative 2) Revenues $fill in the blank 12173b05f07a00b_1 283,300 $fill in the blank 12173b05f07a00b_2 275,000 $fill in the blank 12173b05f07a00b_3 Costs fill in the blank 12173b05f07a00b_4 26,200 fill in the blank 12173b05f07a00b_5 fill in the blank 12173b05f07a00b_6 Income (Loss) $fill in the blank 12173b05f07a00b_7 $fill in the blank 12173b05f07a00b_8 $fill in the blank 12173b05f07a00b_9
Solution :
Lease machinery Sell Machinery Differential effect
on income
Revenues $ 283,300 $275,000 $ 8,300
Cost $26,200 $ 13,750 $ 12,450
Income $257,100 $ 261,250 $ 4,150 (loss) (loss)
Since to sell the machinery would be profitable for the company, hence it is advisable for the company to sell the machinery.
Vocabulary - Mortgage-related concepts and terminology Are All Mortgage Loans Alike? In short, the answer is no! Mortgage loans vary with the preferences of the individual lender and the borrower In general, mortgage loans can be differentiated according to their terms of payment, their down payment requirements, and whether they are insured or guaranteed. Mortgage loans, or loans that use as collateral, are made by commercial banks, thrift institutions, and mortgage bankers. In addition to these traditional sources, mortgage brokers also solicit borrowers and originate a large volume of these loans. Brokers often place their loans with these traditional mortgage lenders as well as with Which of the following statements accurately describe the similarities and differences between mortgage bankers and mortgage brokers? Check all that apply. Although mortgage brokers often appear to work on behalf of their borrowing customers, they are ultimately paid by the mortgage lender Mortgage brokers lend their own money to borrowers, while mortgage bankers find borrowers for interested lenders as well as lenders for interested borrowers. Mortgage brokers earn their income from the interest on the mortgage loans, whille bankers earn their income in the form of commissions and loan-origination fees. To review the differences in the characteristics of different types of mortgage loans, match the types of mortgages and related programs listed on the left with their descriptions on the right. Read each description carefully and type the letter of the description in the Answer column next to the correct term. These are not necessarily complete definitions, but there is only one possible answer for each term. Description Answer on the loan for a Making Automobile and Housing Decisions These are not necessarily complete definitions, but there is only one possible answer for each term. Term Answer Description Fixed-rate mortgage
A. This mortgage allows the borrower to pay only the accrued interest on the loan for a specified period of time; after this date, all payments require the payment of both interest and principal Interest-only mortgage
B This mortgage is characterized by an interest rate and monthly payments that can be adjusted over the life of the loan based on movements in market interest rates. VA loan guarantee
C This mortgage is characterized by a constant interest rate and constant monthly payments over the life of the loan. Biweekly mortgage
D. This mortgage allows a borrower to convert from an adjustable-rate loan to a fixed-rater loan during a prespecified time period. Two-step ARM
E. This mortgage uses 26, rather than 12, payments per year to reduce the total amount of interest paid over the life of the loan and accelerate the repayment of the mortgage loan's principal-compared to an otherwise identical fixed-rate mortgage. This adjustable rate mortgage allows for only one rate change: a lower rate remains
F. Adjustable-rate constant for the first five to seven years of the loan's term and then increases to a mortgage higher constant rate that continues throughout the remaining life of the loan. This loan program, offered through a department of the federal government, provides
G. Convertible ARM mortgage insurance to lenders offering mortgage loans with loan-to-value ratios greater than 80% . This loan quarantee is offered by a department of the federal government to lenders
H. Graduated-payment ARM who make qualified loans to eligible veterans of the U.S. Armed Forces and their surviving spouses. This type of mortgage typically requires a down payment of 20% of the value of the
I. FHA mortgage insurance mortgaged property. This mortgage allows borrowers to make smaller-but gradually and constantly
J. Conventional mortgage increasing-payments for the first three to five years. At the end of this period, the payments then stabilize at the higher level and are repaid over the remaining life of the loan.
Answer:
A. Interest-only mortgage
B. Adjustable-rate mortgage
C. Fixed rate mortgage
D. Convertible ARM.
E. Biweekly mortgage
F. Two-step ARM.
G. FHA mortgage insurance.
H. VA loan Guarantee.
I. Conventional mortgage.
J. Graduated-payment ARM
Tammy, a resident of Virginia, is considering whether to purchase a $100, 000 North Carolina bond that yields 4.6% before tax. She is in the 35% Federal marginal tax bracket and the 5% state marginal tax bracket. Tammy is aware that State of Virginia bonds of comparable risk are yielding 4.5%. Virginia bonds are exempt from Virginia tax, but the North Carolina bond interest is taxable in Virginia. Tammy can deduct all state taxes paid on her Federal income tax return. If required, round your computations and answers to the nearest dollar.
Determine the after tax income from each bond.
Virginia Bond: __________
North Carolina Bond: ____________
Which of the two options will provide the greater after-tax return to Tammy?
Answer:
A. Virginia Bond: $4,500
North Carolina Bond: $4,451
B. Virginia Bond
Explanation:
A. Calculation to Determine the after tax income for Virginia Bond
Using this formula
After tax income for Virginia Bond=Face value*Virginia bonds of comparable risk
Let plug in the formula
After tax income for Virginia Bond=$100,000*4.5%
After tax income for Virginia Bond=$4,500
Calculation to Determine the after tax income for North Carolina Bond
Interest income before tax $4,600
(100,000*4.60)
Less State marginal tax ($230)
(5%*$4,600)
Interest income net of state tax $4,370
($4,600-$230)
Add Federal marginal tax $81
(35%*230)
After tax income for Noth Caroline Bond $4,451
Therefore the the after tax income from each bond will be:
Virginia Bond: $4,500
North Carolina Bond: $4,451
B. Based on the above calculation the options that will provide the greater after-tax return to Tammy will be VIRGINIA BOND reason be that it has high After tax income of the amount of $4,500 compare to Noth Caroline Bond which has After tax income of the amount of $4,451.
(Predetermined OH rates; capacity measures) Albertan Electronics makes inexpensive GPS navigation devices and uses a normal cost system that applies over- head based on machine hours. The following 2010 budgeted data are available:
Variable factory overhead at 100,000 machine hours $1,250,000
Variable factory overhead at 150,000 machine hours 1,875,000
Fixed factory overhead at all levels between 10,000 and 180,000 machine hours
1,440,000
Practical capacity is 180,000 machine hours; expected capacity is two-thirds of practical.
a. What is Albertan Electronics’ predetermined variable OH rate?
b. What is the predetermined FOH rate using practical capacity?
c. What is the predetermined FOH rate using expected capacity?
d. During 2010, the firm records 110,000 machine hours and $2,710,000 of overhead costs. How much variable overhead is applied? How much fixed overhead is applied using the rate found in part (b)? How much fixed overhead is applied using the rate found in part (c)? Calculate the total under- or over applied overhead for 2010 using both fixed FOH rates.
Answer:
Albertan Electronics
a. Albertan Electronics’ predetermined variable OH rate is $20.50.
b. The predetermined FOH rate using practical capacity is $8.00.
c. The predetermined FOH rate using expected capacity is $12.00.
d1. The variable overhead applied is $1,375,000.
d2. The fixed overhead applied using the rate in (b) is $880,000.
d3. The fixed overhead applied using the rate in (c) is $1,320,000.
d4. The total under-applied overhead for 2010 at $8.00 FOH rate is $455,000 and the total under-applied overhead for 2010 at $12 FOH rate is $15,000.
Explanation:
a) Available 2010 budgeted data:
Variable factory overhead at 100,000 machine hours $1,250,000 ($12.50)
Variable factory overhead at 150,000 machine hours 1,875,000 ($12.50)
Fixed factory overhead at all levels between 10,000 and 180,000 machine hours = 1,440,000 ($8.00)
Practical capacity is 180,000 machine hours; expected capacity is two-thirds of practical (120,000) = $12 ($1,440,000/120,000)
Predetermined Overhead Rate:
Variable factory overhead = $12.50
Fixed factory overhead = 8.00
Predetermined overhead rate = $20.50
During 2010, the firm records 110,000 machine hours and $2,710,000 of overhead costs. How much variable overhead is applied? How much fixed overhead is applied using the rate found in part (b)? How much fixed overhead is applied using the rate found in part (c)? Calculate the total under- or overapplied overhead for 2010 using both fixed FOH rates.
Variable overhead applied = $12.50 * 110,000 = $1,375,000
Fixed overhead applied with $8 * 110,000 = 880,000
Total overhead applied $2,255,000
Underapplied overhead = ($2,710,000 -2,255,000) 455,000
Variable overhead applied = $12.50 * 110,000 = $1,375,000
Fixed overhead applied with $12 * 110,000 = 1,320,000
Total overhead applied $2,695,000
Underapplied overhead = ($2,710,000 -2,695,000) 15,000
Karen and Anika, the owners of a new personal assistant firm called Assist You 2, are interested in offering their services in a community filled with other start-up firms and local shops. Now that they have completed the segmentation and targeting processes, to ensure that they are best positioning their service within this community, they must next:________
Answer: understand the position of their competitors.
Explanation:
For any company to strive in a particular environment, it is vital for an organization to always look out for its competitors and look for ways to have a competitive edge over them. This is vital in generation of revenue, maximization of profit and achieving organizational goals and objectives.
Therefore, with regards to the question, best positioning their service within this community, they must next understand the position of their competitors.
Panarin Company entered into two contracts on the same date with Hjalmarsson Corporation. Panarin has provided the following analysis of price and cost for the contracts:
Contract A Contract B
Contract price $125,000 $80,000
Cost of related goods 70,000 55,000
Gross profit (loss) $55,000 $25,000
Hjalmarsson, the customer, may cancel both contracts if either of them is not fulfilled by Panarin in a timely manner. Stand-alone prices are typically $120,000 for the goods in Contract A and $80,000 for the goods in Contract B.
Required:
a. Should the two contracts be combined for purposes of applying the 5-step revenue recognition model?
b. What amount of revenue should Panarin associate with each of the contracts?
c. When should revenue be recognized on each of the contracts?
Answer:
a. The 2 contracts should be combined.
b. $123,000 for Contract A
$82,000 for Contract B
c. Revenue should be recognized when control of goods has transferred to the customer.
Explanation:
Part a:
Answer: Yes. The 2 contracts should be combined.
Reasoning:
5-step revenue recognition model indicates identification of contracts with customer in the first step, identification of performance obligations of the contract in the second step, transaction price determination in the third step, allocation of transaction price to the performance obligations to the fourth step and recognition of revenue as the performance obligations in the fifth step. Therefore, two contracts should be combined.
Part b:
Calculate the amount of revenue should P associate with each of the contracts.
There are two performance obligations:
Goods from contract A ($120,000 + ($5000 x 60%)) = $123000
Goods from contract B ($80,000 + ($5000 x 40%)) = $82000
Reasoning: It is given that the stand-alone prices for Contract A is $120,000 and Contract B is $80,000. Contract price of Contract A is $125,000. Thus, the additional $5,000 should be split between the 2 contracts. Hence, the performance obligations for goods from contract A is $123,000 and goods from contract B is $82,000.
Part C:
Revenue should be recognized when control of goods has transferred to the customer.
Reasoning:
Performance obligation is satisfied when transfer the good or service to the customer. Recognize revenue when the performance obligation is satisfied is the fifth step of the 5-step revenue recognition model. Hence, revenue should be recognized when control of goods has transferred to the customer.
The City of Troy collects its annual property taxes late in its fiscal year. Consequently, each year it must finance part of its operating budget using tax anticipation notes. The notes are repaid upon collection of property taxes. On April 1, the city estimated that it will require $2,500,000 to finance governmental activities for the remainder of the fiscal year. On that date, it had $770,000 of cash on hand and $830,000 of current liabilities. Collections for the remainder of the year from revenues other than current property taxes and from delinquent property taxes, including interest and penalties, were estimated at $1,100,000.
Required:
a. Calculate the estimated amount of tax anticipation financing that will be required for the remainder of FY 2017. Show work in good form.
b. Assume that on April 2, 2017, the City of Troy borrowed the amount calculated in part a by signing tax anticipation notes bearing 6 percent per annum to a local bank. Record the issuance of the tax anticipation notes in the general journals of the General Fund and governmental activities at the government- wide level.
c. By October l, 2017, the city had collected a sufficient amount of current property taxes to repay the tax anticipation notes with interest. Record the repayment of the tax anticipation notes and interest in the general journals of the General Fund and governmental activities at the government-wide level.
PAnswer:
A. $1,460,000
B. Dr Cash $1,460,000
Cr Tax anticipation note Payable $1,460,000
C.General fund
Dr Tax anticipation note Payable $1,460,000
Dr Expenditure $43,800
Cr Cash $1,503,800
Government activities
Dr Tax anticipation note Payable $1,460,000
Dr General government interest expense $43,800
Cr Cash $1,503,800
Explanation:
a. Calculation for the estimated amount of tax anticipation financing that will be required for the remainder of FY 2017.
Estimated amount of Tax Anticipation Financing
Budgeted expenditures, remainder of year 2,500,000
Add Current liabilities payable 830,000
Less Estimated Resources Available:
Cash on hand, beginning of year (770,000)
Collections of budgeted revenues and delinquent property taxes (1,100,000)
Estimated Amount of Required Tax Anticipation Note Financing $1,460,000
b. Preparation of the Journal entry to Record the issuance of the tax anticipation notes
Dr Cash $1,460,000
Cr Tax anticipation note Payable $1,460,000
c. Preparation of journal entry to Record the repayment of the tax anticipation notes and interest
General fund
Dr Tax anticipation note Payable $1,460,000
Dr Expenditure $43,800
($1,460,000*6%*6/12)
Cr Cash $1,503,800
($1,460,000+$43,800)
Government activities
Dr Tax anticipation note Payable $1,460,000
Dr General government interest expense $43,800
($1,460,000*6%*6/12)
Cr Cash $1,503,800
($1,460,000+$43,800)
Planning to finance higher education helps people prepare for their financial future because it teaches them about
loans and interest.
savings accounts.
filing taxes
short-term goals.
Answer:
A. loans and interest.Explanation:
'twas the right answer on edge
Select all the correct answers.
Which three statements are true as they relate to supply and demand?
As supply rises, prices generally decrease.
As demand decreases, costs generally increase.
OOOOO
As supply decreases, prices increase.
The average rate of change describes how much a quantity changes as price increases.
As demand rises, the price of the product decreases.
Answer:
As supply rises, prices generally decrease.
As supply decreases, prices increase.
The average rate of change describes how much a quantity changes as price increases.
Explanation:
I beleve these are your 3 answers
Imagine that you own a property that is exactly 2.2 acres large. You want to sell your property, but your realtor tells you that you cannot sell your land by the acre. In order to sell your land you need to determine the area you own in units of square meters. Given that there are 1.6 kilometers in 1 mile and 640 acres in 1 square mile, what is the area of land that you own in
Based on the various conversion factors, the area of the land in square meters is 8,800 m².
You will need to convert the land area in stages from acres to miles squared, to kilometers squared and then to meters squared.
Land area in miles squared= 2.2 acres x ( 1 / 640 acres in one square mile)
= 2.2/640
= 0.0034375 m²
Land in kilometers squared= 0.0034375 x 1.6² kilometers per mile
= 0.0088 kilometers ²
Land in meters squared= 0.0088 x 1,000 m² per kilometer ²
= 8,800 meters ²
In conclusion, the area of the land you own is 8,800 meters²
Find out more on conversion of units at https://brainly.com/question/13654890.
A consumer faces a tradeoff between labor (L) and leisure (R). She consumes a composite good (C). When the consumer works, she earns an hourly wage of $14.00, and she spends a maximum of 24 hours on labor and leisure, but she chooses to work 10.00 hours. Whatever time she does not spend working, she spends on leisure. She starts with an initial endowment of 21.00 units of the composite good, which she can buy and sell freely at a market price of $12.00.
Required:
What is the consumer's real wage?
Answer:
$11.70
Explanation:
composite goods consumed ( C )
She earns an hourly wage of $14
spends maximum of 24 hours on labor and leisure
works = 10 hours
leisure = 14 hours
initial endownment = 21.00 units
price of composite = $12
Determine the consumer's real wage
Real wage per hour = wage per hour / price of composite
= 14 / 12 = $1.17
Hence Total real earnings = Total wage earned / price of composite
Total wage earned = 14 * 10 = $140
Total real earnings = 140 / 12 = $11.7
If you receive a phone call that seeks to verify or update personal information you should: ________
a. ask to speak to a supervisor.
b. ask several questions of the solicitor to verify their authenticity.
c. obtain their name and address in case you need to contact them in the future.
d. obtain their name and phone number and call them back to verify their credentials.
Answer:
B
Explanation:
Buffalo Corporation issues $630,000 of 9% bonds, due in 11 years, with interest payable semiannually. At the time of issue, the market rate for such bonds is 10%. Click here to view factor tables. Compute the issue price of the bonds. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to 0 decimal places e.g. 58,971.) Issue price of the bonds
Answer:
the issue price of the bonds is $593,177
Explanation:
The computation of the issue price of the bonds is shown below:
Particulars Amount PV factorat 5% Present value
Semi-annual interest $28,350 11.68959 $331,400
Principal $630,000 0.41552 $261,778
Total $593,177
hence, the issue price of the bonds is $593,177
Smoky Mountain Corporation makes two types of hiking boots--Xtreme and the Pathfinder. Data concerning these two product lines appear below:
Xtreme Pathfinder
Selling price per unit $140.00 $99.00
Direct materials per unit $72.00 $53.00
Direct labor per unit $24.00 $12.00
Direct labor-hours per unit 2.0 DLHs 1.0 DLHs
Estimated annual production and sales 20,000 units 80,000 units
The company has a traditional costing system in which manufacturing overhead is applied to units based on direct labor-hours. Data concerning manufacturing overhead and direct labor-hours for the upcoming year appear below:
Estimated total manufacturing overhead $1,980,000
Estimated total direct labor-hours 120,000 DLHs
Required:
Compute the product margins for the Xtreme and the Pathfinder products under the company's traditional costing system. (Round your intermediate calculations to 2 decimal places.)
Answer:
Results are below.
Explanation:
First, we need to calculate the predetermined overhead rate:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 1,980,000 / 120,000
Predetermined manufacturing overhead rate= $16.5 per direct labor hour
Now, we can determine the unitary product margin for each product:
Xtreme:
Selling price= 140
Total cost per unit= 72 + 24 + (16.5*2)= (129)
Product margin= $11
Pathfinder:
Selling price= 99
Total cost= 53 + 12 + (16.5*1)= (81.5)
Product margin= $17.5
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:
Crawford Construction has a quick ratio of: 2.00x, $36,225 in cash, $20,125 in accounts receivable, some inventory, total current assets of $80,500, and total current liabilities of $28,175. The company reported annual sales of $100,000 in the most recent annual report.
Over the past year, how often did Crawford Construction sell and replace its inventory?
a. 4.14 x
b. 4.55 x
c. 2.86x
d. 8.01 x
The inventory turnover ratio across companies in the construction industry is 4.55x. Based on this information, which of the following statements is true for Crawford Construction?
a. Crawford Construction is holding less inventory per dollar of sales compared to the industry average
b. Crawford Construction is holding more inventory per dollar of sales compared to the industry average
Answer:
Crawford Construction
1. Crawford Construction sold and replaced its inventory:
a. 4.14 x
2. With Construction Industry Inventory Turnover Ratio as 4.55x, Crawford Construction:
b. Crawford Construction is holding more inventory per dollar of sales compared to the industry average
Explanation:
a) Data and Calculations:
Quick ratio = 2.00x,
Cash = $36,225
Accounts receivable = $20,125
Inventory = x
x= $80,500 - 36,225 - 20,125 = $24,150
Total current assets = $80,500
Total current liabilities = $28,175
Annual sales = $100,000
Using annual sales instead of cost of goods sold to calculate the inventory turnover, = Turnover/Inventory = $100,000/$24,150 = 4.14x
b) Quick ratio equals (Current assets - Inventory)/Current Liabilities. Computing the quick ratio in place of the current ratio can be used to identify how Crawford Construction can meet its current (short-term) debts without selling inventory and recovering funds from the sale.
c) The Inventory Turnover Ratio divides the cost of goods sold by the average inventory. The Sales value can approximate the cost of goods sold. The ratio shows the efficiency of Crawford Construction in handling its inventory. The higher the value of the ratio, the better, showing that Crawford is more efficient when it gets a higher turnover ratio.
Mutual funds _____. a. are investment companies that use funds provided by savers to buy various types of financial assets, including stocks and bonds, in the financial markets b. cater to savers, especially individuals who have relatively small savings or need long-term loans to purchase houses c. are groups of investment banking firms formed to spread the risk associated with the purchase and distribution of a new issue of securities d. are depository institutions that are owned by its depositors, who are often members of a common organization or association e. are organizations that distribute new issues of securities for corporations
Answer:
a)
Explanation:
Mutual funds are investment companies called AMC( asset management companies ) that gather funds from public by issuing units. These funds are then invested in financial securities and financial instruments likes bonds and shares. Mutual funds are managed by financial experts and are less risky for common public than direct investment in stock market.
Aug. 2 Invested $11,080 cash and $2,330 of equipment in the business.
7. Purchased supplies on account for $520. (Debit asset account.)
12. Performed services for clients, for which $1,343 was collected in cash and $628 was billed to the clients.
15. Paid August rent $582.
19. Counted supplies and determined that only $275 of the supplies purchased on August 7 are still on hand.
Required:
Journalize the transactions.
Answer and Explanation:
The journal entries are shown below:
On August 2
Cash $11,080
Equipment $2,330
To Capital $13,410
(Being Cash and equipment invested in the business)
On August 7
Supplies $520
To Accounts payable $520
(Being Purchase of supplies on account)
On August 12
Accounts Receivable $628
Cash $1,343
To Service Revenue $1,971
(Being Service revenue from clients )
On August 15
Rent expense $582
To Cash $582
(Being cash paid)
On August 19
Supplies expense ($520 - $275) $245
To Supplies $245
(Being supplies expense is recorded)
Prepare the journal entries to record the sale of any job(s) during the month. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
No. Account Titles and Explanation Debit Credit
(1)
(To record sale of jobs)
(2)
(To record cost of jobs)
SHOW LIST OF ACCOUNTSLINK TO TEXT
LINK TO TEXT
LINK TO TEXT
LINK TO TEXT
LINK TO TEXT
What is the balance in the Finished Goods Inventory account at the end of the month? What does this balance consist of?
Finished Goods Inventory $
Job No. 50 Job No. 51 Job No. 52 Jobs 50 and 51 Jobs 51 and 52 Jobs 50 and 52
SHOW LIST OF ACCOUNTS
LINK TO TEXT
LINK TO TEXT
LINK TO TEXT
LINK TO TEXT
LINK TO TEXT
What is the amount of over- or underapplied overhead?
Manufacturing Overhead $
Overapplied Underapplied
Complete Question:
Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2017, Job No. 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows:
direct materials $ 22,000 ,
direct labor $ 13,200
manufacturing overhead $ 17,600
As of January 1, Job No. 49 had been completed at a cost of $ 99,000 and was part of finished goods inventory. There was a $ 16,500 balance in the Raw Materials Inventory account.
During the month of January, Lott Company began production on Jobs 51 and 52, and completed Jobs 50 and 51. Jobs 49 and 50 were also sold on account during the month for $ 134,200 and $ 173,800 , respectively. The following additional events occurred during the month.
1. Purchased additional raw materials of $ 99,000 on account.
2. Incurred factory labor costs of $ 77,000 . Of this amount $ 17,600 related to employer payroll taxes.
3. Incurred manufacturing overhead costs as follows: indirect materials $ 18,700 ; indirect labor $ 22,000 ; depreciation expense on equipment $ 13,200 ; and various other manufacturing overhead costs on account $ 17,600 .
4. Assigned direct materials and direct labor to jobs as follows.
Job No. Direct Direct
Materials Labor
50 $ 11,000 $ 5,500
51 42,900 27,500
52 33,000 22,000
Answer:
Lott Company
1. Journal Entries to record the sale of Job 49 and Job 50:
Debit Cost of Goods Sold $175,450
Credit Finished Goods
Job 49 $99,000
Job 50 $76,450
To record the cost of Jobs 49 and 50 sold during the period.
Debit Accounts Receivable:
Job 49 $134,200
Job 50 $173,800
Credit Sales Revenue $308,000
To record the sale of Jobs 49 and 50 during the period.
2. The balance in the Finished Goods Inventory account at the end of the month is:
= $106,150.
This balance consists of Job 51 only.
3. There is no provision of estimated manufacturing overhead. Therefore, there is no overapplied or underapplied overhead in this situation. The manufacturing overhead costs were applied based on the actual costs incurred.
Explanation:
a) Data and Calculations:
Cost of Work-in-Process or Production:
Job No. Direct Direct WIP Overhead
Materials Labor Beginning Costs Closing
50 $ 11,000 $ 5,500 $52,800 $7,150 $76,450
51 42,900 27,500 0 35,750 106,150
52 33,000 22,000 0 28,600 83,600
January 1, Job 50 Cost of WIP:
direct materials $ 22,000
direct labor 13,200
manufacturing overhead 17,600
Beginning WIP of Job 50 $52,800
Manufacturing overhead costs:
indirect materials $ 18,700
indirect labor $ 22,000
depreciation expense
on equipment $ 13,200
other overhead costs $ 17,600
Total overhead costs = $71,500
Allocation of manufacturing overhead costs:
Jobs Direct Labor Overhead Allocation
50 $ 5,500 $7,150 ($5,500 * $1.30)
51 27,500 $35,750 ($27,500 * $1.30)
52 22,000 $28,600 ($22,000 * $1.30)
Total $ 55,000 $71,500
On January 1, Year 1, Poultry Processing Company purchased a freezer and related installation equipment for $69,600. The equipment had a three-year estimated life with a $4,500 salvage value. Straight-line depreciation was used. At the beginning of Year 3, Poultry Processing revised the expected life of the asset to four years rather than three years. The salvage value was revised to $3,500.
Required Compute the depreciation expense for each of the four years, Year 1-Year 4
Depreciation Expense
Year 1
Year 2
Year 3
Year 4
Answer:
Depreciation Expense
Year 1 = $21,700
Year 2 = $21,700
Year 3 = $11,350
Year 4 = $11,350
Explanation:
depreciation expense for years 1 and 2 = ($69,600 - $4,500) / 3 = $21,700
book value at the end of year 2 = $26,200
depreciation expense for years 3 and 4 = ($26,200 - $3,500) / 3 = $11,350
Where can a user adjust the setting for the number of copies to print?
Report Wizard
Print Preview
Page Setup dialog box
Windows Print dialog box
Answer:windows print dialog box (D) on Edg.
Explanation:
Answer:
The answer is D: Windows Print dialog box
Explanation:
A sharp downturn in the U.S. housing market reduced the income of many who worked in the home construction industry. A Wall Street Journal news article reported that Walmart’s wire-transfer business was likely to suffer because many construction workers are Hispanics who regularly send part of their wages back to relatives in their home countries via Walmart. With this information, use one of the principles of economy-wide interaction to trace a chain of links that explains how reduced spending for U.S. home purchases is likely to affect the performance of the Mexican economy.
Answer:
Answer is explained in the explanation section.
Explanation:
If the wages of the Hispanics construction worker in America are less then, they will not have near as much money to send home to their relatives back in Mexico.
And if their families do not have as much as it use to be then they will not be able to buy near as much as they used to.
It means that if the construction workers don't get as much money as they used to then, neither they nor their families will be able to spend as much as they use to which will obviously hurt each of their economies.