Answer:
Jesse's brother total debt limit =$24,750 x 20% = $4,950
his monthly payment should not exceed ($24,750 / 12) x 10% = $206.25
Jesse's sister total debt limit = $35,800 x 20% = $7,160
her monthly payment should not exceed ($35,800 / 12) x 10% = $298.33
the 20/10 rule is a rule of thumb, meaning that it is not exact, it only gives us a parameter.
Hollins Company uses the FIFO method to compute equivalent units. It has 2,000 units in beginning work in process, 20% complete as to conversion costs, 25,000 units started and completed, and 3,000 units in ending work in process, 30% complete as to conversion costs. All units are 100% complete as to materials. Equivalent units for materials and conversion costs are, respectively:_______.
a) 28,000 and 26,600.b) 28,000 and 27,500.c) 27,000 and 26,200.d) 27,000 and 29,600.
Answer:
Hollins Company
Equivalent units for materials and conversion costs are, respectively:_______.
b) 28,000 and 27,500.
Explanation:
a) Data and Calculations:
Units Materials Conversion
Beginning WIP 2,000 0 1,600 (2,000 * 80%)
Started and
completed 25,000 25,000 25,000 (100%)
Ending WIP 3,000 3,000 900 (3,000 * 30%)
Equivalent units 28,000 27,500
b) To calculate the equivalent units using the FIFO method involves determining the equivalent units of the following: Beginning Work-in-Process, Units Started and Completed, and Ending Work-in-Process with respect to work done during the current period.
Which of the following is not an element of the financial statements as covered in the "Conceptual Framework for Financial Reporting"?
a. Equity
b. Assets
c. Liabilities
d. Profits
Answer:
d. Profits
Explanation:
Financial statement is a statement written in accordance to the conceptual framework for financial reporting which shows the financial position, performance and profit or loss of an entity.
The statements that would reflect in the financial statement of an entity are:
i. statement of profit or loss
ii. statement of change in equity
iii. statement of cash flow
iv statement of financial position
v. notes to the financial statement
All these statements are written considering the assets, liabilities, equity, income and expenses of the entity.
what is the difference between hire purchase and differed payment?
Explanation:
In deferred payment, the borrower will agreed to pay certain amount of money on the promised date. ... In hire purchase, the purchaser will be getting the belongings without paying the full price of the item. The purchasers would make down payment and the balance is paid in installments.
Explanation:
Hire purchase is a system by which one pays for a thing in regular installments while having the use of it but deferred payments are payments that are completely or partially postponed for financial reasons
What is the underlying premise of the resource-based view? Group of answer choices Firms generally have very similar capabilities stemming from almost identical resources Imitation of resources is the best way to achieve competitive advantages Firms differ in fundamental ways because each firm possesses a unique bundle of resources Firms' intangible resources can be very difficult to imitate
Answer:
Firms differ in fundamental ways because each firm possesses a unique bundle of resources
Explanation:
The resource-based view can be regarded as managerial framework utilized in finding strategic resources that can be exploited by a firm so that sustainable competitive advantage can be achieved. It should be noted that the underlying premise of the resource-based view is that Firms differ in fundamental ways because each firm possesses a unique bundle of resources
explain the difference between a flat tax and a graduated income tax. in your own words.
Answer:
flat tax is a set percentage that dies not change
graduated tax changes according to the amount being taxed. usually, the higher the amount, the higher the tax rate is.
what is 4 P's in entrepreneur
Answer:
passion, persistence, perseverance, and preparation
Explanation:
Vivian owns a sunglass store in Key West, Florida. This store can sell 100 pairs of sunglasses per month. Currently, the sunglass cost $20 each pair and it takes 5 days to receive an order. Vivian pays the cost of $30 for each time she submits an order. Vivian uses 25% of item costs to compute annual holding costs and works 240 days in a year.
Which statement is Not correct?
A. The annual holding cost is $300.
B. Average inventory level is 60 pairs.
C. Vivian needs to place 10 orders per year.
D. The reorder point is 25 pairs.
E. The average time between two consecutive orders is 20 days.
Answer:
E. The average time between two consecutive orders is 20 days.
Explanation:
Vivian has sunglasses which costs it $20 each. The inventory holding needs to be for 5 days since the lead time is 5 days for each order. The holding cost for the inventory is $500 for the whole year. There will be 10 days in average when two orders are placed for the sunglasses.
When making a choice using the blank a household will choose the combination of labor, leisure, and income that provides the most utility
Answer: hiii lol
Explanation:
Suppose that nominal GDP increases to $30,000, and the GDP deflator increases to 105. What is real GDP? Round your answer to the nearest cent.
Josie is the CRM manager for a toy company. Under what pathway in the Marketing, Sales, and Services career cluster would Josie's job fall?
A. Merchandising
B. Marketing Management
C. Professional Sales
Answer:
B. Marketing Management
Explanation:
Marketing management is a process in which the planning and execution of pricing, promotion, distribution, goods & services in order to exchange and satisfy the individual and organization goals & objectives. It also involved the marketing, sales and services
Therefore option b is correct
Answer:
B
Explanation:
just took the test<3
What are the challenges of Micro, Market and Macro environments?
Explanation:
Micro Environnement : Difficult employees
lack of visions and mission
lack of adequate management skills
Market : Competition
Shortage of supply
Macro : Change in income levels
labour restrictions
The challenges of the Micro environment are
Hardened and difficult workers.Lack of objectives and goals.Lack of appropriate management skills.The challenges of the Macro environment are:Change in the level of income of people.Restriction of labor supplyThe challenges that affect the market environmentLots of market competitionShortage of goods supplyRead more on macro environment here:https://brainly.com/question/26755809
The summarized balance sheets of Goebel Company and Dobbs Company as of December 31, 2014 are as follows:
Goebel Company
Balance Sheet
December 31, 2014
Assets $1,200,000
Liabilities $ 150,000
Capital stock 600,000
Retained earnings 450,000
Total equities $1,200,000
Dobbs Company
Balance Sheet
December 31, 2014
Assets $900,000
Liabilities $205,000
Capital stock 575,000
Retained earnings 120,000
Total equities $900,000
If Goebel Company acquired a 20% interest in Dobbs Company on December 31, 2014 for $175,000 and the fair value method of accounting for the investment were used, the amount of the debit to Equity Investments (Dobbs) would have been:_________
Answer:
$175,000
Explanation:
Based on the information given we were told that in a situation where Goebel Company tend to acquired an interest of 20 percent in Dobbs Company on December 31, 2014 for the amount of $175,000 in which we were told that the fair value method of accounting were used for the Investment which means that the amount of DEBIT TO EQUITY INVESTMENT (Dobbs) would have been $175,000 which was the amount that was used by Goebel Company to acquired an interest of 20 percent in Dobbs Company on December 31,2014.
When you listen carefully to directions you are given, it saves time for _________.
a.
Yourself
b.
The speaker
c.
Both of you
d.
Neither of you
The following information is available for Splish Brothers Corp. for the year ended December 31, 2022.Other revenues and gains 23,600other expenses and losses 4,000costs of good sold 291,000sales discount 4,800sales revenue 759,000operating expenses 220,000sales returns and allowances 10,600Prepare a multiple-step income statement for Splish Brothers Corp. The company has a tax rate of 25%.
Answer:
Splish Brothers Corp.
Multiple-step income statement for the year ended December 31, 2022.
Sales Revenue 759,000
Less sales returns and allowances (10,600)
Net Sales 748,400
Less Costs of Good Sold (291,000)
Gross Profit 457,400
Less Operating Expenses
Operating expenses 220,000
Sales discount 4,800 (224,800)
Operating Profit 232,600
Less Non - Operating Expenses
Other revenues and gains (23,600)
Other expenses and losses 4,000 19,600
Net Profit before tax 252,200
Income tax expense (63,050)
Net Profit after tax 189,150
Explanation:
Multiple-step income statement shows separately the income generated from Primary activities and that generated from Secondary activities as above.
I’ll pay somebody 50$ if somebody do this now.
Instructions: Watch this 40 minute video called “Small Business Revolution - Nyce and clean auto detailing” Season 5, Episode 1 then answer the following questions in the picture I’ll need this by 6:00 or 6:30 please help
Answer:
suck 2 be u
Explanation:
i aint doin it
most ________ do not cover damage by accidents
A. Promotional prices
B. Warranties
C. Assets
D. Generic goods
(Personal finance)
Answer:
warranties b
I searched it up and I told some of my friends and they think that too
hope this helps
The following is a December 31, 2021, post-closing trial balance for Almway Corporation.
Account Title Debits Credits
Cash $ 45,000
Investment in equity securities 110,000
Accounts receivable 60,000
Inventory 200,000
Prepaid insurance (for the next 9 months) 9,000
Land 90,000
Buildings 420,000
Accumulated depreciation—buildings $ 100,000
Equipment 110,000
Accumulated depreciation—equipment 60,000
Patent (net) 10,000
Accounts payable 75,000
Notes payable 130,000
Interest payable 20,000
Bonds Payable 240,000
Common stock 300,000
Retained earnings 129,000
Totals $ 1,054,000 $ 1,054,000
Additional information:
1. The investment in equity securities account includes an investment in common stock of another corporation of $30,000 which management intends to hold for at least three years. The balance of these investments is intended to be sold in the coming year.
2. The land account includes land which cost $25,000 that the company has not used and is currently listed for sale.
3. The cash account includes $15,000 restricted in a fund to pay bonds payable that mature in 2024 and $23,000 restricted in a three-month Treasury bill.
4. The notes payable account consists of the following:
1. a $30,000 note due in six months.
2. a $50,000 note due in six years.
3. a $50,000 note due in five annual installments of $10,000 each, with the next installment due February 15, 2022.
1. The $60,000 balance in accounts receivable is net of an allowance for uncollectible accounts of $8,000.
2. The common stock account represents 100,000 shares of no par value common stock issued and outstanding. The corporation has 500,000 shares authorized.
Required:
Prepare a classified balance sheet for the Almway Corporation at December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.)
Answer:
Almway Corporation
Classified balance sheet as at December 31, 2021.
ASSETS
Non - Current Assets
Land $65,000
Land Held for Sale $25,000
Buildings $420,000
Accumulated depreciation—buildings ($100,000) $320,000
Equipment $110,000
Accumulated depreciation—equipment $60,000 $50,000
Patent (net) $10,000
Investment in equity securities $30,000
Total Non- Current Assets $500,000
Current Assets
Inventory $200,000
Accounts receivable $60,000
Prepaid insurance (for the next 9 months) $9,000
Short term Investment in equity securities $80,000
Cash $45,000
Total Current Assets $394,000
TOTAL ASSETS $894,000
EQUITY AND LIABILITIES
LIABILITIES
Non - Current Liabilities
Notes payable $100,000
Bonds Payable $240,000
Total Non - Current Liabilities $340,000
Current Liabilities
Accounts payable $75,000
Notes payable $30,000
Interest payable $20,000
Total Current Liabilities $125,000
TOTAL LIABILITIES $465,000
EQUITY
Common stock $300,000
Retained earnings $129,000
TOTAL EQUITY $429,000
TOTAL EQUITY AND LIABILITIES $894,000
Explanation:
A Balance Sheet contains Balances in Assets, Liabilities and Equity. A Classified Balance Sheet then Shows different categories and amounts for these Account Balances as shown above.
Stanley receives his degree from OCC. Stanley leaves his job at Trump Organization, paying him $100,000 a year. Stanley uses his life saving of $250,000 that he had deposited at Wells Fargo at an annual rate of 5% to start his own clean-energy company. Stanley’s first year revenue and expenses are as follow, Rent $23,000 Salary 57,000 Utility 22,000 Others 13,000 _________ Total 115,000 _________ Revenue for the year $180,000 11. Stanley’s explicit costs for the year is Group of answer choices $215,000 $112,500 $180,000 $216,250 $115,000
Stanley’s explicit costs for the year is $115,000.
Using this formula
Explicit costs=Rent+ Salary+ Utility+ Others
Where:
Rent=$23,000
Salary=$57,000
Utility=$22,000
Others=$13,000
Let plug in the formula
Explicit costs= $23,000+$57,000+$22,000+$13,000
Explicit costs=$115,000
Inconclusion Stanley’s explicit costs for the year is $115,000.
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Do you agree that the social media channels and content creation technology consumers have at their disposal is actually a good thing as the speaker says? Why or why not?
Answer: Guy on the top is so wrong
Question 7 (3 points)
All of the following are necessary functions of a government EXCEPT?
1) providing a legal system to enforce laws and protect property rights
2) maintaining competition by regulatingg monopolies
3) promoting economic growth at the expense of employment and inflation
4) providing goods that private companies cannot provide
The function of the government does not include 4) providing goods that private companies cannot provide
Functions of government:It gives the legal system for enforcing the laws and protecting property rights. It maintained the competition via regulating the monopolies.Also, it gives the economic growth.Read more about the government here: https://brainly.com/question/24479311
The unit product cost under absorption costing does not include fixed manufacturing overhead cost.
True
False
Answer:
true!
Explanation:
sales dollars are about appropriate allocation base for selling, general, and administrative expenses.
true or false the majority of managerial communication is written in one form or another.
Explanation:
One form of verbal communication is called paralanguage.
True or False
False
Explain the relationship between the FAFSA, the SAR, and the EFC.
Explanation:
The SAR summarizes the information you provided on the FAFSA, and indicates the Expected Family Contribution (EFC). The EFC is the amount of money your family will be expected to contribute to your education. ... The lower your EFC, the more financial aid you will get.
Hope it helps
:>
EFC is an index number that is used to determine the eligibility for federal student financial aid, this number results from the financial information will be provided in FAFSA, then it will be reported on SAR.
What are the FAFSA, the SAR, and the EFC?FAFSA refers to the Free Application for Federal Student Aid, form that is filled by the college students to determine their eligibility for student financial aid in the United States.
SAR refers to the Student Aid Report is a document that gives the basic information about the student's eligibility for federal financial aid.
EFC refers to the Expected Family Contribution is an estimate of a student's eligibility for federal student financial aid.
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Leader Corporation Company uses a job-order costing system with a single plantwide pre-determined overhead rate based on machine-hours. The 98554-CZ company based its pre-determined overhead rate for the current year on the following data:
Total machine-hours 50,000
Total fixed manufacturing overhead cost $400,000
Variable manufacturing overhead per machine-hour $6
Recently, Job D168 was completed with the following characteristics:
Number of units in the job 40
Total machine-hours 100
Direct materials $750
Direct labor cost $2,750
If the company marks up its unit product costs by 60% then the selling price for a unit in Job D168 is closest to:____.
a. $2,505.
b. $3,025.
c. $1,185.
d. $2,360.
Answer:
Selling price per unit= $196
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= (400,000 / 50,000) + 6
Predetermined manufacturing overhead rate= $14 per machine hour
Now, we can allocate overhead and calculate the total cost:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 14*100= $1,400
Total cost= 1,400 + 750 + 2,750
Total cost= $4,900
Finally, the selling price per unit:
Unitary cost= 4,900/40= $122.5
Selling price= 122.5*1.6
Selling price= $196
Assume that you are 25 years old today, and that you are planning on retirement at age 65. You expect your salary to be $55,000 one year from now and you also expect your salary to increase at a rate of 3% per year as long as you work. To save for your retirement, you plan on making annual contributions to a retirement account. Your first contribution will be made on your 26th birthday and will be 12% of this year's salary. Likewise, you expect to deposit 12% of your salary each year until you reach age 65. Assume that the rate of interest is 5%.
The future value (FV) (at age 65) of your retirement savings is closest to:________
a. $1,091,733.20
b. $1,246,723.80
c. $988,452.90
d. $1,225,821.20
Answer:
FV= $1,246,723.8
Explanation:
To calculate the future value of this growing annuity, we need to use the following formula:
FV= A*{[(1+i)^n - (1+g)^n] / (i-g)}
A= annual deposit= 55,000*0.12= 6,600
i= 0.05
g=0.03
n= 40 years
FV= 6,600* {[(1.05^40) - (1.03^40)] / (0.05 - 0.03)}
FV= $1,246,723.8
PLEASE HELP ASAP!! WILL MARK BRAINLIEST!!
How is per capita output determined and used?
Answer:
Real GDP per capita is a measurement of the total economic output of a country divided by the number of people and adjusted for inflation.
Explanation:
I'm not sure if this is what you were looking for but this is my answer.
Effect of transactions on cash flows
State the effect (cash receipt or cash payment and amount) of each of the following transactions, considered individually, on cash flows:
A. Retired $500,000 of bonds, on which there was $4,000 of unamortized discount, for $510,000.
B. Sold 20,000 shares of $5 par common stock for $30 per share.
C. Sold equipment with a book value of $68,900 for $72,400.
D. Purchased land for $825,000 cash.
E. Purchased a building by paying $30,000 cash and issuing a $570,000 mortgage note payable.
F. Sold a new issue of $400,000 of bonds at 98.
G. Purchased 10,000 shares of $10 par common stock as treasury stock at $22.50 per share.
H. Paid dividends of $1.25 per share. There were 1,000,000 shares issued and 180,000 shares of treasury stock.
Solution :
EFFECT AMOUNT ($)
a. Cash payment $510,000
b. Cash receipt $600,000
c. Cash receipt $72,400
d. Cash payment $825,000
e. Cash payment $30,000
f. Cash receipt $390,000
g. Cash payment $225,000
h. Cash payment $1475000
A small foundry agrees to pay $420,000 three years from now to a supplier for a given amount of coking coal. The foundry plans to deposit a fixed amount in a bank account every three months, starting three months from now, so that at the end of three years the account holds $420,000. If the account pays 8.5% APR compounded monthly, how much must be deposited every three months?
a. $31,069.
b. $28,473.
c. $47,943.
d. $35,389.
Answer:
The correct answer is A.
Explanation:
Giving the following information:
Future Value= $420,000
Number of periods (n)= 4*3= 12 quarters
Interest rate (i)= 0.085/4= 0.0213
To calculate the quarterly deposit, we need to use the following formula:
FV= {A*[(1+i)^n-1]}/i
A= quarterly deposit
Isolating A:
A= (FV*i)/{[(1+i)^n]-1}
A= (420,000*0.0213) / [(1.0213^12) - 1]
A= $31,086.79
Explain one disadvantage to a business of being a sole trader.
Answer:
Disadvantages of sole trading include that: you have unlimited liability for debts as there's no legal distinction between private and business assets. your capacity to raise capital is limited. all the responsibility for making day-to-day business decisions is yours.
Explanation:
Other disadvantages of sole proprietorships include a lack of tax flexibility, the increased difficulty of raising money and the potential for weak management if the sole owner doesn't have all the skills or knowledge necessary to lead the company well.
What are some qualities that Glass Blowers need? Check all that apply. And have a Bless day and God bless you all <3
_______________________________________________________
A.) steady hands
B.) strength
C.) leadership
D.) computer literacy
E.) kindness
F.) care
Answer:
A,B,F
Explanation:
They are three are some qualities that Glass Blowers need are:
steady handsstrengthcomputer literacyWhat is Glass Blowers?The term Glass Blowers was the particular type of the art are the used the technique on the artist. It was the techniques id the prepare and shape their glass bowls and the deep of the object. It was the oldest method to used in the artist.
The techniques of the making the glass blowers is the variety of the shapes and the sizes. The another name is the gaffer, blacksmith, and the glassblower. They are the several qualities of the Glass Blowers need are steady hands, strength, computer literacy.
As a result, the significance of the Glass Blowers are the aforementioned. Therefore, option (a), (b) and (f) is correct.
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