The cape cod cotton candy company had the following information available. The effect on net income will be $200.
Net income refers to the quantum an individual or business makes after abating costs, allowances and levies. In commerce, net income is what the business has left over after all charges, including payment and stipend, cost of goods or raw material and levies.
Calculating the problem:
Selling cost per unit = $ 200,000 ÷ $ 100,000
= 2
Variable cost per unit = $ 100,000 ÷ 100,000
= 1
sales = 100,200× 2 = 200 ,400
Variable cost = 100,200 × 1
= 100,200
Contribution margin = 100,200
Fixed cost = 50,000
Net income = 50,200
So , net increase is $ 200.
Generally, net income is synonymous with profit since it represents the final measure of profitability for a company. Net income is also appertained to as net profit since it represents the net quantum of profit remaining after all charges and costs are abated from profit.
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al jafar jewel co. purchased a crystal extraction machine for $50,000 that has an estimated salvage value of $10,000 at the end of its 8-year useful life. compute the depreciation schedule using: (a) straight-line depreciation (b) double declining balance depreciation (c) 100% bonus depreciation (d) macrs depreciation
The depreciation schedule for the following methods is shown below
Depreciation is a non-cash expense, which is the cost of the wear and tear of the company's fixed assets. The book value of a fixed asset reduces over time, and the reduction of value is recognized through depreciation expense.
Part a:
Calculate the annual depreciation expense using the following formula:
Annual depreciation=Initial cost−Salvage value/Useful life
=50,000−10,000/8
=40,000/8
=5,000
The annual depreciation of the machine under the straight-line method is $5,000
The table below shows the depreciation table of the machine under the straight-line method
Year Initial Cost Depreciation expense Accumulated depreciation Book value
1 50,000 5,000 5,000 45,000
2 50,000 5,000 10,000 40,000
3 50,000 5,000 15,000 35,000
4 50,000 5,000 20,000 30,000
5 50,000 5,000 25,000 25,000
6 50,000 5,000 30,000 20,000
7 50,000 5,000 35,000 15,000
8 50,000 5,000 40,000 10,000
Part b:
Calculate the annual depreciation rates under the double declining balance depreciation method.
Depreciation rates=1/Useful life×2
=1/8×2
=.25
The depreciation rate of the machine under the double declining balance depreciation method is 25%
The table below shows the depreciation schedule of the machine
Year Beginning book value Depreciation rates Depreciation expense Accumulated depreciation Ending book value
1 50,000 25% 12,500 12,500 37,500
2 37,500 25% 9,375 21,875 28,125
3 28,125 25% 7,031 28,906 21,094
4 21,094 25% 5,273 34,180 15,820
5 15,820 25% 3,955 38,135 11,865
6 11,865 25% 1,865 40,000 10,000
7 10,000 25% - 40,000 10,000
8 10,000 25% - 40,000 10,000
Part c:
Under the sum-of-years digit depreciation, the depreciation rate of the machine for each year is based on the fraction of its current period in descending order against the total sum of the useful life. The equation below calculates the total sum of years.
Sum of years=8+7+6+5+4+3+2+1=36
The table below shows the depreciation table of the machine under sum of years digits depreciation method
Year Net cost of Machine (Cost - Salvage value) Depreciation rates Depreciation expense Accumulated depreciation Book value
1 40,000 8/36 8,889 8,889 31,111
2 40,000 7/36 7,778 16,667 23,333
3 40,000 6/36 6,667 23,333 16,667
4 40,000 5/36 5,556 28,889 11,111
5 40,000 4/36 4,444 33,333 6,667
6 40,000 3/36 3,333 36,667 3,333
7 40,000 2/36 2,222 38,889 1,111
8 40,000 1/36 1,111 40,000 -
Part d:
In contrast to another type of depreciation method, MACRS depreciation has pre-defined depreciation rates sets by the IRS. The depreciation rates are posted in the depreciation rates column in the table below:
Year Initial Cost Depreciation rates (%) Depreciation expense Accumulated depreciation Book value
1 50,000 14.29% 7,145 7,145 42,855
2 50,000 24.49% 12,245 19,390 30,610
3 50,000 17.49% 8,745 28,135 21,865
4 50,000 12.49% 6,245 34,380 15,620
5 50,000 8.93% 4,465 38,845 11,155
6 50,000 8.92% 1,155 40,000 10,000
7 50,000 4.49% - 40,000 10,000
8 50,001 - - 40,000 10,001
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noah jupe, a minor, enters into a contract to buy a car from shia labeouf, an adult. if the deal is set aside, restoring noah and shia to their original positions prior to a contract is a. restitution. b. emancipation. c. ratification. d. disaffirmance.
Noah jupe, a minor, enters into a contract to buy a car from shia labeouf, an adult. if the deal is set aside, restoring noah and shia to their original positions prior to a contract is a. restitution.
Hence, option A is correct.
Explain in detail.
Restitution is a type of gain-based recovery under which a court may order a defendant to forfeit their gains in favor of the claimant. Contrast that with the law of compensation, often known as the law of loss-based recovery, when a judge orders the defendant to compensate the claimant for their loss.Restitution examples include a shoplifter who is required to reimburse a store owner for the cost of a stolen item or an attacker who is required to cover their victim's medical costs following a severe assault. Even burial expenses may be covered by restitution in homicide situations.To know more about Restitution here
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sandra company entered into a purchase commitment. at the end of the accounting period, the contract is still outstanding and the contract price exceeds the current market price. sandra expects that a loss will be incurred. sandra should recognize a
If the market price on the purchase date has not decreased from the year-end price, a journal entry should be made for purchase obligations. Negative stock (accounting cost).
Which of the following line items on the financial statement will be impacted by an exaggerated ending inventory?The income statement of a company will be impacted by overstating the ending inventory. As a result of the inflated ending inventory, the cost of the products sold will be lower by the same amount, which lowers the expense listed on the income statement.
What is a typical way to precisely determine cost per unit when making a lump sum purchase?Add all of your variable and fixed costs together, then divide that number by the overall number of units you produced during that time period to determine the cost per unit.
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if interest rates in the overall economy decrease to 4 percent, which one of the following is most likely to be the approximate market value of a $1,000 corporate bond with a fixed interest rate of 6 percent?
If interest rates in the overall company decrease to 4%, the approximate market value of a $1,000 corporate bond with a fixed interest rate of 6% is $1,500.
It is the amount a lender charges a borrower and is a percentage of the principal - the amount loaned.
What it the connection between interest rate and bonds?
Bond prices have an inverse relationship with interest rates. It means that if the interest rate go up, then the bond prices will go down and if the interest rate go down, then the bond prices will go up.
How to calculate the market value?
Bond price
= Face value * (Coupon rate / Interest rate)
= 1000 * (6% / 4%)
= 1000 * 1.5
= 1,500
Therefore, the market value of a corporate bond is $1,500.
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Larue buys an iPod for $150 and a new laptop for $1,200, and signs a one-year employment contract for a $4,800 monthly salary to start at the beginning of the next month. The Statute of Frauds coversa. the employment contract, and the laptop and iPod purchases.b. the employment contract and the laptop purchase only.c. the employment contract only.d. the laptop and iPod purchases only.
Larue buys an iPod for $150 and a new laptop for $1,200 and signs a one-year employment contract for a $4,800 monthly salary to start at the beginning of the next month. The Statute of Frauds covers the employment contract, and the laptop and iPod purchases.
In regulation, fraud is intentional deception to comfortable unfair or unlawful advantage, or to deprive a sufferer of a felony proper. Fraud can violate civil law (e.g., a fraud sufferer can also sue the fraud culprit to keep away from the fraud or recover economic repayment) or crook law (e.g., a fraud perpetrator can be prosecuted and imprisoned by the governmental government), or it can purpose no lack of cash, assets, or felony proper however nonetheless be an element of some other civil or criminal wrong.
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sometimes a member of an audit engagement team may wish to leave their audit firm and seek employment with their client. do some research on this topic. what did you discover?
There is a defense that an auditor wouldn't be impartial if they hired someone from their client. But as long as the auditor was not a partner or engagement leader in a senior position at the audit firm.
For example, this is generally regarded as being acceptable. In this case, the previous engagement leader may have a significant impact on future decisions made by the audit team or may have a thorough understanding of the audit team's general operating procedures.
There is less chance that a member of the audit engagement team who is less senior will be able to affect current choices going forward. The audit team member applying for a job with the firm is typically seen as reasonable and acceptable in these circumstances.
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The second lesson from studying capital market history states that the _____ the potential reward, the _____ the risk
The second lesson from studying capital market history states that greater the potential reward, the less the risk.
What are capital markets?In the capital market, bonds, stocks, and other financial instruments are bought and sold by buyers and sellers. Participants in the trade include both individuals and institutions. Most securities traded on the capital market are long-term ones. In contrast to a money market, where short-term debt is purchased and sold, a capital market is a financial market where long-term debt or equity-backed securities are bought and sold. Borrowers, stockholders, and savers—also known as investors—are the three key players in the capital markets. The stock market, bond market, and other associated markets are all included in the phrase capital market.
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In the activity rate for the Customer Orders activity pool is $20 per order and there are 400 customer orders, the total overhead cost assigned to this cost pool is $__.
400x20=8000
In the activity rate for the Customer Orders activity pool is $20 per order and there are 400 customer orders, the total overhead cost assigned to this total cost pool is $ 400x20=8000.
Total cost (TC) in economics is the least expensive way to produce a certain amount of output. This is the entire economic cost of production and consists of fixed costs that are incurred regardless of the amount of a thing produced and include inputs such as buildings and machinery, possibly including sunk costs, and variable cost, which varies depending on the quantity of a good produced and includes inputs like labor and raw materials. In economics, the total cost of each item of production includes the entire opportunity cost as one of its fixed or variable costs.
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if abc is more accurate, why would a manufacturing company implement traditional costing over activity based costing?
Compared to conventional costing methods, activity-based costing(ABC) solutions are more accurate. This is because they provide a more precise analysis of indirect expenses. ABC systems are more difficult and expensive to deploy, though.
What is activity-based costing(ABC)?⇒An organization's activities area unit known victimization the activity-based cost accounting (ABC) technique, that then allocates the value of every activity to every product and repair looking on what proportion of every is really consumed. this system allocates a lot of indirect prices (overhead) into direct prices than ancient cost accounting will.
ABC is associate degree approach to the cost accounting and watching of operations that contains following resource consumption and cost accounting final outputs, per CIMA, the leased Institute of Management Accountants. Resources area unit allotted to activities and activities to value objects supported consumption estimates. The latter do therefore by ligature activity prices to outputs through value drivers.
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a manager is putting together a proposal for the planning, implementation, and evaluation of a new call light system after gathering data from the current system. what type of planning strategy is this manager demonstrating?
Strategic planning is this manager demonstrating.
A manager is a expert who takes a management role in an enterprise and manages a team of employees. regularly, managers are responsible for coping with a specific branch in their enterprise. there are numerous varieties of managers, but they normally have duties like undertaking overall performance critiques and making selections.
Maintains workforce by using recruiting, deciding on, orienting, and schooling personnel. guarantees a secure, comfy, and prison paintings environment. Develops personal growth possibilities. Accomplishes staff outcomes by means of speaking activity expectancies; planning, monitoring, and appraising task outcomes.
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when using the direct method, why is a decrease in accounts receivable added to sales revenue when computing cash collected from customers? multiple choice question. there were fewer cash sales than credit sales during the year. there were more collections of accounts receivable than there were sales on account during the year.
marta has a tight marketing budget and needs to use a strategy that can drive customers to her website for a set cost. which bidding strategy has the potential to meet marta's needs?
Maximize clicks bidding strategy has the potential to meet Marta's needs and increase marketing.
What is Maximize clicks?An automated bid strategy that sets your bids automatically can help you obtain the most clicks for your money.
The website will try to collect as many clicks as it can while using your daily budget when you use the Maximize Clicks feature.
This approach can work wonders if you're looking to increase traffic to your website for branding and list-building purposes, or if you have excellent conversion rates and need to discover more volume.
An automated bidding approach, although not a smart bidding strategy, is to maximize clicks. Simply said, employ it while attempting to maximize clickthrough rates while staying inside your budget.
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person 1 is busy finishing up a project plan when their colleague comes in and delivers a contribution to the project. the deadline hasn’t passed yet, and there is still ample time to finish the project. however, person 1 found that their colleague didn’t complete the work the way that person 1 had asked. what is the most reasonable course of action for person 1?
The project's success is crucial, hence every attempt should be taken to incorporate the contribution from Person 1's colleague if doing so will improve the project.
What do you mean by effective teamwork?Effective teamwork entails everyone being dedicated to and working toward a common objective. Teamwork maximises the individual strengths of team members to bring out their best.
As there is still plenty of time to finish the project, Person 1 should instruct their colleague to do the necessary work so that it can be added to the project before the deadline passes.
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Kirk Minerals processes materials extracted from mines. The most common raw material that it processes results in three joint products: Spock, Uhura, and Sulu. Each of these products can be sold as is, or each can be processed further and sold for a higher price. The company incurs joint costs of $180,000 to process one batch of the raw material that produces the three joint products. The following cost and sales information is available for one batch of each product.
Sales Value at
Split-Off Point Allocated
Joint Costs Cost to Process
Further Sales Value of
Processed Product Spock $210,000 $40,000 $110,000 $300,000 Uhura 300,000 60,000 85,000 400,000 Sulu 455,000 80,000 250,000 800,000 Determine the incremental profit or loss that each of the three joint products. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
Spock Uhura Sulu Incremental profit (loss) $Kirk Minerals processes materials extracted $Kirk Minerals processes materials extracted $Kirk Minerals processes materials extracted Indicate whether each of the three joint products should be sold as is, or processed further.
Spock Kirk Minerals processes materials extracted sold as isprocess further Uhura Kirk Minerals processes materials extracted process furthersold as is Sulu Kirk Minerals processes materials extracted sold as isprocess further
Kirk Minerals processes materials extracted from mines. The most common raw material that it processes results in three joint products.Sales Value at Allocated Joint Costs at Split-Off Point Value of Processed Product after Additional Sales at Cost.
Spock $210,000 $40,000 $110,000 $300,000
Uhura 300,000 60,000 85,000 400,000
Sulu 455,000 80,000 250,000 800,000
determining each of the three combined products' incremental profit or loss.Profit under processing is subtracted from the present profits to determine incremental profit or loss.For example, incremental profit or loss equals profit being processed minus current profit.$210,000 - $40,000 = $170,000 is the current profit.$300,000 - $40,000 - $110,000 = $150,000 is the profit under processing.
Profit or Loss Incremental = $150,000 - $170,000
Current Profit = $300,000 - $60,000 = $240,000; Incremental Profit or Loss =-$20,000 — Loss for Uhura.
Incremental Profit or Loss = $255,000 - $240,000 Profit Under Processing = $400,000 - $60,000 - $85,000.Profit for Sulu; Incremental Profit or Loss = $15,000.Current Profit = $455,000 - $80,000 = $375,000.Profit Under Processing equals $800,000 - $80,000 - $250,000 = $470,000 Incremental Profit or Loss equals $470,000 - $375,000 Incremental Profit or Loss equals $95,000 —Profit.
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consensus, majority, averaging and authority rule with discussion are all examples of what? a. modes of team action b. team leadership structures c. team leader attributes d. team report headings
Consensus, majority, averaging and authority rule with discussion are all examples of team decision making.
Managers use decision-making as a leadership competency to analyze a situation and choose how the organization should move forward. The subsequent actions are part of the decision-making process: recognizing the difficulty In this phase, the manager finds a problem and establishes the circumstances that gave rise to it.
You give coworkers the chance to share ideas, learn from one another, and work toward a common objective by involving them in the decision-making process. In turn, you encourage teamwork and aid in dismantling organizational silos.
The given question is incomplete, the complete question is:
consensus, majority, averaging and authority rule with discussion are all examples of what? a. modes of team action b. team leadership structures c. team leader attributes d. team report headings e. team decision making.
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a firm in a purely competitive industry has a typical cost structure. the normal rate of profit in the economy is 6 percent. this firm is earning $18 on every $200 invested by its founders.
a firm in a purely competitive industry has a typical cost structure.
a) fee of return = incomes/Investment
earning =$18
Investement = $2 hundred
charge of return = 18/200 = 9%
b) fee of earnings of financial system = 7%
company fee of income = nine%
employer price of income - charge of profit of economy = nine%-7% = 2% >zero
So, a corporation is an income a monetary profit of two%.
c. As the enterprise is only competitive in nature, it's going to be like big numbers of manufacturers competing with each different to meet the want and desires of a large variety of consumer. in this industry, there can be barriers to entry or exit. In flawlessly competitive markets, there aren't any obstacles to entry or go out. this is a first-rate important characteristic of flawlessly aggressive markets because agencies are capable of freely inputting and exiting in reaction to capacity profit.
So, the sure industry might see a lot of access or exit.
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how do distribution channels improve product distribution? group of answer choices channel intermediaries perform all of the functions needed to get the product from its raw material state into the hands of its final user. distribution channels eliminate the need to store products. distribution channels reduce the number of transactions needed to get the product from the manufacturer to the consumer channel intermediaries eliminate the need for the manufacturer to provide customer service. channel intermediaries take title to the products as they move through distribution channels.
The members of the channel that play a role in getting the final product to the end user are referred to as channel intermediaries.
In the first stage, the manufacturer converts the raw material into finished goods, which are then transferred to wholesalers, who send the finished goods to retailers for sale to the product's intended customers. Their functions are accordingly defined and managed. As a result, channel intermediaries effectively manage all of these functions.
How does distribution increase a product's value?A product or service gains value through distribution because it gives consumers access to space, possession, and time. Customers have easier access to goods and services as a result. To get their products to retailers, distributors need the best wholesalers and transportation systems.
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a stock had a return of 9.7 percent last year. if the inflation rate was 2 percent, what was the approximate real return?
7.5% is the real rate of return
real rate of return = (1+NominalRate) ÷ (1+InflationRate)-1
real rate of return= [(1 + 0.097) / (1 + 0.02)] -1
real rate of return = 0.075 or 7.5%
What is real rate of return?
The annual rate of return that is taken into account after taxes and inflation is known as the real rate of return. A nominal rate of return, on the other hand, is one that excludes taxes and inflation. Similar to this, the real rate of return is one that accounts for taxes or inflation in its computation.
How do you calculate the real rate of return?
The real rate of return formula is: (1+NominalRate) ÷ (1+InflationRate)-1. This calculation determines the cash value of your investment after accounting for the impact of inflation and taxes.
Stellar Co. follows the practice of valuing its inventory at the lower-of-cost-or-market. The following information is available from the company's inventory records as of December 31, 2020. Replacement Cost/Unit Estimated Selling Price/Unit $11.24 Item Unit Cost Quantity 1,800 Completion & Disposal Cost/Unit $1.61 0.96 Normal Profit Margin/Unit $1.93 1.28 A $8.99 $8.03 8.77 B 1,500 8.45 10.06 с 5.99 5.78 1.23 0.64 1,700 1,700 D 0.86 7.70 6.74 7.17 4.07 6.85 1.61 4.49 6.74 E 2,100 0.75 1.07 Greg Forda is an accounting clerk in the accounting department of Stellar Co., and he cannot understand why the market value keeps changing from replacement cost to net realizable value to something that he cannot even figure out. Greg is very confused, and he is the one who records inventory purchases and calculates ending inventory. You are the manager of the department and an accountant.
When determining an asset's value for inventory accounting, the NRV method is frequently utilised. Accounts receivable and inventory are two of the biggest assets that a firm may disclose on a balance sheet. Both of these asset classes are valued using the NRV method.
The NRV adheres to a more traditional method of accounting. In circumstances where professional judgement is necessary for the appraisal of the transactions, the conservatism approach instructs accountants to adopt valuation methods that yield a smaller profit and do not overestimate the worth of the assets.
In the lower cost or market method of accounting reporting, net realisable value is a crucial measure. The inventory of the company must be reported on the balance sheet at a lower value than either the historical cost or the market value under the market method reporting technique. The net realisable value can be used as an approximation of the market value if the inventory's market value is uncertain.
For the given question, the solution is attached in the form of image.
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Disclaimer: Your question is incomplete. Please write th complete question by looking over the internet.
Fixed Overhead Variances Assume that ExxonMobil uses a standard cost system for each of its refineries. For the Houston refinery, the monthly fixed overhead budget is $8,300,000 for a planned outputs of 5,000,000 barrels. For September, the actual fixed cost was $8,650,000 for 5,100,000 barrels.a. Determine the fixed overhead budget variance. $Answer Favorable or Unfavorable?b. If fixed overhead is applied on a per-barrel basis, determine the volume variance. Favorable or Unfavorable?
Solution a:
Fixed overhead budget variance = Budgeted fixed overhead - Actual fixed overhead
= $8,300,000 - $8,650,000 = $350,000 Unfavorable
Solution b:
Predetermined overhead rate per barrel = $8,300,000 / 5000000 = $1.66 per barrel
Fixed overhead applied = 5100000*$1.66 = $8,466,000
Fixed overhead volume variance = Fixed overhead applied - Budgeted fixed overhead
= $8,466,000 - $8,300,000 = $166,000 Favorable
A budget is a calculation plan, normally but not usually economic, for a described length, regularly three hundred and sixty five days or a month. A budget may also consist of anticipated income volumes and sales, resource portions including time, expenses and costs, environmental influences which include greenhouse gas emissions, different influences, assets, liabilities and cash flows. corporations, governments, households, and other corporations use budgets to explicit strategic plans of sports in measurable phrases. A price range expresses intended expenses along with proposals for a way to meet them with resources.
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The greater the volume of the process being targeted for inspection, the more attractive __________ inspection is.controlledautomatedperiodicmonitoredvariable
The greater the volume of the process being targeted for inspection, the more attractive inspection is automated.
Most often, a formal examination or evaluation exercise is what is meant by an inspection. Measurements, tests, and gauges are used to assess specific qualities of an object or activity during engineering inspection. To determine if the item or activity is in line with these aims, the outcomes are typically compared to the requirements and standards given, frequently using a Standard Inspection Procedure to ensure consistent checking. Regularly, non-destructive inspections are conducted.
Inspections may be carried out visually or with the aid of sensing technologies like ultrasonic testing. They may also be carried out in person or remotely, as in the case of a remote visual inspection. Inspections may also be carried out manually or automatically, as in the case of an automated optical inspection.
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Standardized agreements to buy or sell a specified amount of currency at a date in the future at a pre-determined price are called_____.
Currency futures contracts are standard contracts to buy or sell a certain amount of currency at a future date for a predetermined price.
What is a futures contract on a currency?"Currency futures" are futures contracts for currencies that describe the price of exchanging one currency for another at a later date. For the purpose of determining the rate for currency futures contracts, the spot rates of the currency pair are employed. Currency futures can be used to hedge against the risk of receiving payments in a different currency.
What benefits may you get from buying a currency futures contract?A currency futures contract is an agreement to buy or sell a specific amount of money at a specific price at a later date. This contract provides protection from the risk of changing foreign exchange rates by defining the cost of acquiring a currency.
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harper is saving for retirement. she deposits $350 each month at 4.9% annual interest for 30 years. according to her calculations, at the end of 30 years, she should have $285,963.16 in her account. how much of this did harper contribute and how much of this is interest?
The amount contributed by Harper is equal to $12600 and the interest is equal to $$159963.16.
People often save money for future by making investments in the form of deposits in banks. The banks give some amount of interest on the deposited amount which are the extra amount earned as profit. Harper also saves money for retirement and deposits $350 each month for 30 years. Now to find the amount contributed by Harper we multiply per month amount to number of years and months that is
Amount contributed = $350 × 30 × 12
Amount contributed = $126000
Now we find the interest earned by Harper as
Interest amount = Amount in bank - Amount contributed
Interest amount = $285963.16 - $126000
Interest amount = $159963.16
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after reading netflix case 11 on page c-140 what forces do you believe are driving change in this global industry? are the combined impacts of these driving forces likely to be favorable or unfavorable in terms of their effects on competitive intensity and future industry profitability?
Numerous factors influence the movie rental business. The opportunity for new players to enter this market is a constant force for change.
What are riving forces?
There are minimal barriers preventing rivals from entering the movie rental sector, which is expanding quickly. This may easily dilute the market and eventually cause a problem. The competition between businesses is another element guiding the sector. The industry is seeing a rapid increase in rivals.
It is challenging for this industry to compete for clients because the items offered have little to no distinctions and the consumer's cost of switching providers is relatively low. The driving force behind something in motion; for example, He was unquestionably the new administration's driving force. This phrase refers to the process of transferring an engine's or a vehicle's driving force to other businesses. One of the first to utilize it metaphorically was Ralph Waldo Emerson (English Traits, 1856): "The ability of its journals is the driving force."
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what are the goods and tools that are used to make products?
Capital
Labor
Synthetic resources
None of the above
The goods and tools that are used to make products are capital. The majority of fixed assets that the producer purchases in order to generate consumer goods are considered capital goods. The correct option is (A).
What is capital?The total amount of financial resources needed to produce goods or services is referred to as capital in the business world. These cash may be employed to start up operations, cover ongoing costs, or develop and extend the company.
Buildings, machinery, equipment, vehicles, and tools are examples of capital goods.
The inputs required to create a good or service in order to generate revenue are known as the elements of production. Land, labor, capital, and entrepreneurship are the four components of production according to economists.
Therefore, the goods and tools that are used to make products are capital. The majority of fixed assets that the producer purchases in order to generate consumer goods are considered capital goods.
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alice took out a loan for $19,500 at 13 1/2% on nov 4, 2018 which will be due on january 14, 2019. using ordinary interest, what will be the interest cost and what amount will alice pay back on january 14, 2019?
The required answer is $20,019.19.
Interest that is calculated and paid back using a 360-day calendar year rather than a full 365 days is termed as ordinary interest. Even while there isn't much of a difference in the computation, there may be a significant difference in the amount, particularly in large loan transactions.
Banks and business organisations frequently employ ordinary interest. When there is an issue with exact interest, it is specified that exact interest is needed; otherwise, ordinary interest is assumed to be the type of interest necessary.
In the given question,
Principle, P = $19,500
Rate of interest, R = 13 1(/2)% = 0.135
Time period, T = 71/360 year (Ordinary interest)
We know that,
Interest = (P x R x T)/100
= 19,500 x 0.135 x 71/360
= $519.19
Therefore, Alice needs to pay back $20,019.19 ($19,500 + $519.19).
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at the end of the first year of operations, gaur manufacturing had gross accounts receivable of $251,000. gaur's management estimates that 6% of the accounts will prove uncollectible. what journal entry should gaur record to establish an allowance for uncollectible accounts?
The journal entry to establish an allowance for uncollectible accounts is as follows
Bad debt expense A/c Dr $15,060
To Allowance for doubtful debts $15,060
(Being bad debt allowance recorded)
The bad debt expense is calculated as shown below, as 6% of the accounts are proven uncollectible.
$251,000x 6/100
$2510x 6
=$15,060
In order to make the proper posting, we debited the bad debt expense and credited the allowance for doubtful debts account.
A bad debt expense is recognized when a receivable is no longer collectable as a result of a customer's inability to pay an outstanding debt due to bankruptcy or other financial troubles.
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because our flight monitor product is the best on the market, we are certain you will place an order next month. one of our representatives will be coming by next tuesday to complete your order. too pushy too general too timid
Because our flight monitor product is the best on the market, we are certain you will place an order next month. one of our representatives will be coming by next tuesday to complete your order. The issue here is that it is too pushy. Option A.
What does it mean for a request to be too pushy?A person who is deemed to be excessively aggressive, forceful, or insistent is referred to as pushy. Individuals who strive to persuade others to comply with their demands or to agree with them are often those who are referred to as pushy.
They are sending a representative to complete the order without taking the customer's perspective into account or providing them the opportunity to ask questions about the goods.
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Read the following closing of a persuasive request, and then identify what is wrong with it.
Because our flight monitor product is the best on the market, we are certain you will place an order
representatives will be coming by next Tuesday to complete your order.
Too pushy
Too timid
Too general
suppose that you are a member of the board of governors of the federal reserve system. the economy is experiencing a sharp rise in the inflation rate. what change in the federal funds rate would you recommend? how would your recommended change get accomplished? what impact would the actions have on the lending ability of the banking system, the real interest rate, investment spending, aggregate demand, and inflation? what other tools of monetary policy could you use and how?
The federal funds rate, also known as the federal funds target rate or the fed funds rate, is determined by the Federal Open Markets Committee
What is the rate?A number, amount, or degree measured in relation to another object. She typed at a speed of 80 words per minute. : a charge or payment based on another quantity. more specifically: the premium per insurance unit. A rate in mathematics is the comparison of two related values expressed in different units. The numerator of the ratio expresses the corresponding rate of change in the other (dependent) variable.
(FOMC) to regulate overnight lending among American banks. It has been set as a range between two limits, upper and lower. Currently, the federal funds rate ranges from 3.75% to 4%.
The cost of borrowing money will normally decrease if the federal funds rate decreases. Consumers might be more inclined to take out loans to finance larger purchases or small businesses, which can help the economy get moving.
Therefore, The rate, also known as the federal funds target rate or the fed funds rate
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qzuilet which of the following best describes upics? a. upics are federally funded. b. upics are paid by grant monies. c. upics only cover certain states where fraud is prevalent. d. upics are private companies contracted by cms.
CMS uses private companies as its Unified Program Integrity Contractors (UPIC).
What is the purpose of a UPICs?The primary goal of UPIC is to look into allegations of fraud, waste, and abuse in Medicare or Medicaid claims. In order to stop the wrongful payment of funds from the Medicare Trust Fund, they conduct early and prompt investigations and take immediate action.
What place in society do Medicaid Integrity Contractors (MICs) have?For the purpose of conducting post-payment audits of Medicaid providers, CMS has agreements with businesses referred to as Audit Medicaid Integrity Contractors (Audit MICs). Finding overpayments and ultimately reducing the payment of false Medicaid claims are the main goals of provider audits.
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