Answer:
A. A belief, a feeling, and a tendency to act
Explanation: Research on humans has shown that
Attitude is made up of three components:
Affective Feelings andemotions about the attitude object; behavioral, that is behavior one exhibits when faced with the object; ( cognitive, the thoughts and beliefs one has about the object )The correct option is A. A belief, a feeling, and a tendency to act are the components of an attitude.
Three elements are believed to make up attitudes: an emotional element of feeling, a behavioral element of how the attitude affects conduct, and an intellectual element of beliefs and knowledge.
What is the importance of attitude?Your viewpoint has a significant impact on a number of things, including your ability to overcome challenges, productivity, earning potential, social life, and more. A positive outlook can make achieving success in these numerous spheres of life much easier, resulting in substantial advantages that can greatly raise your quality of life.
Characteristics of attitude include: Attitudes are the intricate fusion of what we term personality, beliefs, values, behaviors, and motives. Anywhere from highly favorable to very unfavorable can be considered to be where it falls on the continuum. No matter their social standing or intellectual ability, attitudes are a universal human trait.
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If the straight-line depreciation method is used, the annual average investment amount used in calculating the accounting rate of return is calculated as (beginning book value + ending book value)/2.
a. True
b. False
Answer:
The answer is true
Explanation:
Accounting Rate of Return is a financial ratio used in capital budgeting decision making. It is the ratio of estimated accounting profit(net income) of a project to the average investment made in the project.
And average investment is calculated as the sum of the beginning and ending book value of the project/investment divided by 2
Depreciation is termed as the phase of the value of the assets when they keep on decreasing year by year or monthly. It is caused due to the overutilization of the assets for the production function of the firm.
The correct answer is true
An Accounting Rate of Return (ARR) is a financial ratio that is used to make capital budgeting decisions. It is the ratio of a project's estimated retained earnings (retained earnings) to a project's average investment.
Investment is equal to the sum of the project/initial investments and ending book values divided by two.
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Suppose the spot and six-month forward rates on the Norwegian krone are Kr 5.83 and Kr 5.98, respectively. The annual risk-free rate in the United States is 3.63 percent, and the annual risk-free rate in Norway is 5.33 percent.
The six-month forward rate on the Norwegian krone would have to be Kr/$ ........... to prevent arbitrage.
Answer:
The six-month forward rate on the Norwegian krone would have to be Kr/$ 5.93 to prevent arbitrage
Explanation:
In order to calculate the six-month forward rate on the Norwegian krone we would have to calculate the following formula:
six-month forward rate = S (1+id) / (1+if)
According to the given data we have the following:
S=5.83
id=5.33%
if=3.63%
Therefore, six-month forward rate =5.83 (1+5.33%) / (1+3.63%)
six-month forward rate =6.14/1.04 = 5.93
The six-month forward rate on the Norwegian krone would have to be Kr/$ 5.93 to prevent arbitrage
The December 31, 2018, balance sheet of Whelan, Inc., showed $136,000 in the common stock account and $2,610,000 in the additional paid-in surplus account. The December 31, 2019, balance sheet showed $146,000 and $2,910,000 in the same two accounts, respectively. The company paid out $141,000 in cash dividends during 2019.
Required:
What was the cash flow to stockholders for the year?
Answer:
$169,000 negative
Explanation:
Equity = Common stock + Additional paid in surplus
Total equity at beginning= Common stock + Additional paid in surplus
=136,000+2,610,000=$2,746,000
Total equity at end= Common stock + Additional paid in surplus
=146,000+2,910,00)=$3,056,000
Hence new equity = Total equity at End - Total equity at beginning
3,056,000-2,746,000=$310,000
Cash flow to stockholders = Dividends paid - New equity
= 141,000-310,000
= -169,000
=$169,000 negative
Jose has one evening in which to prepare for two exams and can employ one of two possible strategies: Strategy Score in Economics Score in Statistics 1 93 81 2 77 92 The opportunity cost of receiving a 93 on the economics exam is __________ points on the statistics exam. a. 11 b. 81 c. 15 d. 12
Answer:
b. 81
Explanation:
The opportunity cost refers to the cost in which we foregone the options among the available ones. In this we have to sacrificed to gain another thing. We called as a real cost also
Since in the question it is given that the opportunity cost of receiving 93 on the economics exam would lead to 81 points on the statistics exam
hence, the correct option is b. 81
The following are selected 2017 transactions of Sean Astin Corporation.
Sept. 1 Purchased inventory from Encrino Company on account for $50,000. Astin records purchases gross and uses a periodic inventory system.
Oct. 1 Issued a $50,000 12-month, 8% note to Encino in payment of account
Oct. 1 Borrowed $50,000 from the Shore Bank by signing a 12-month, zero-interest-bearing $54,000 note.
Instructions:
(A) Prepare journal entries for the selected transactions above
(B) Prepare adjusting entries at December 31
(C) Compute the total net liability to be reported on the December 31 balance sheet for: The interest-bearing note & the zero-interest-bearing note.
Answer and Explanation:
The Journal entries are shown below:-
A. a. Purchase Dr, $50,000
To Accounts payable $50,000
(Being purchase of inventory is recorded)
b.Accounts payable Dr, $50,000
To Notes payable $50,000
(Being issuance of notes is recorded)
c.Cash Dr, $50,000
Discount on notes payable Dr, $4,000
To Notes payable $54,000
(Being amount borrowed from bank and issued notes is recorded)
B. a. Interest expenses Dr, $1,000 ($50,000 × 8% × 3 ÷ 12)
To Interest payable $1,000
(Being interest expenses is recorded)
b. Interest expenses Dr, $1,000 ($4,000 × 3 ÷ 12)
To Discount on notes payable $1,000
(Being interest expenses is recorded)
C. The Computation of interest-bearing note and the zero-interest-bearing note is shown below:-
Interest-bearing note = Note payable + Interest payable
= $50,000 + $1,000
= $51,000
Zero-interest-bearing note = Note payable - Discount
= $54,000 - ($4,000 - $1,000)
= $54,000 - $3,000
= $51,000
A. The journal entries is the 1st stage of the accounting process, it records the business transactions of monetary nature in a the order of its occurrence.
B. The adjusting entries are the type of journal entries prepared at the end of the financial period to record the amount of expenses and incomes not incurred in the current period.
C. Total net liabilities is $102,000.
Computation:
The journal entries of A and B are shown in the image attached below.
C.
[tex]\begin{aligned}\text{Interest Bearing Note}&=\text{Notes Payable+Interest Payable}\\&=\$50,000+\$1,000\\&=\$51,000\end{aligned}[/tex]
[tex]\begin{aligned}\text{Zero-Interest Bearing Note}&=\text{Notes Payable-Discount}\\&=\$54,000-(\$4,000-\$1,000)\\&=\$51,000\end{aligned}[/tex]
The sum of interest bearing note and zero interest bearing note will be the total amount of net liabilities.
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Accounting software for small businesses has become so sophisticated that most small business owners will never need to consult with an actual accountant or understand accounting information themselves.
a. True
b. False
A capital investment evaluation method that measures the expected time for the present value of the net cash flows to equal the initial cost of the investment is the:
Answer:
The Payback Method.
Explanation:
The pay back period is the length of time required for the total cash flows to equal the initial capital investment.
Thus the Payback Method is the investment evaluation method that measures the expected time for the present value of the net cash flows to equal the initial cost of the investment.
Answer:
The correct answer is: Net present value (NPV)
Explanation:
The information related to interest expense of classic music, inc. is given below:
Net Income $265,000
Income tax expense 105,000
Interest expense 66,000
Based on the above data, which of the following is the times- interest- earned ratio? (round the final answer to two decimal places)
A) 6.61 times
B) 4.15 times
C) 5.02 times
D) 4.02 times
Answer:
The times- interest- earned ratio is 6.61 times. The right answer is A.
Explanation:
In order to calculate the times- interest- earned ratio we would have to make the following calculation:
times- interest- earned ratio=Income before interest and taxes/Interest expense
According to given data
Income before interest and taxes=Net Income+Income tax expense +Interest expense
Income before interest and taxes=$265,000+$105,000+$66,000
Income before interest and taxes=$436,000
Therefore, times- interest- earned ratio=$436,000/$66,000
times- interest- earned ratio= 6.61 times
A company issued 120 shares of $100 par value common stock for $14,200 cash. The total amount of paid-in capital in excess of par is:
Answer:
The answer is simply $2,200.
Explanation:
Par value of common stock means the price of the stock as stated in the company's charter.The amount paid-in capital in excess of par connotes that the actual cash received for the common stock purchased by subscribers is more than the par value by a certain amountBased on the information provided in the question, the total amount of paid-in capital in excess of par is: $14,200 - (120 shares x $100) = $2,200.
Since 2003, Walmart has been a proponent of RFID technology, and the company wanted all of its suppliers to make use of RFID technology.The most likely reason that Walmart is supporting this technology is to help them:
Answer:
Explanation:
The most likely reason for Walmart to support this technology is that it will allow them to track and process items from their suppliers at a much more efficient rate. Since RFID technology uses radio waves to read and capture information stored on a tag attached to an object, providing a unique identifier for an object. These unique tags allow each individual item to be tracked throughout the whole process from supplier to warehouse to client. Thus preventing losses and reducing costs.
The balance in Discount on Bonds Payable
a. would be added to the related bonds payable to determine the carrying amount of the bonds.
b. would be subtracted from the related bonds payable on the balance sheet.
c. should be reported on the balance sheet as an asset because it has a debit balance.
d. should be allocated to the remaining periods for the life of the bonds by the straight-line method, if the results obtained by that method materially differ from the results that would be obtained by the interest method.
Answer:
b. would be subtracted from the related bonds payable on the balance sheet.
Explanation:
A bond is a fixed income instrument that represents the indebtedness of the borrower to the investor or creditor (bond issuer). They're basically loans that are given to large organizations or government.
This ultimately implies that, when an investor or creditor purchases a bond, an agreed amount of money is being borrowed to the issuer as a loan. Consequently, the bond issuer is expected to pay an interest with a return of principal at maturity to the holder (investor or creditor) of the bond.
Hence, bonds payable only arises when a company issues bonds so as to generate cash for its business and plans. Thus, the company is a borrower as the bond issuer while the holder of the bond is a debt-holder (investor or creditor). This further would mean that, the company becomes liable to the investor. Therefore, bonds payable should be recorded on the long-term liability side of the balance sheet being used by the company.
Bonds are issued at par or premium or discount and as such bond issuer records the face value of the bond as bonds payable.
Additionally, the balance in discount on bonds payable would be subtracted from the related bonds payable on the balance sheet because it decreases the value of the bonds.
Mark writes a check to Sally, intending to use it to pay Sally for babysitting Mark's daughter next week. Sally arrives at Mark's house for a visit, and while Mark is in the bathroom, Sally discovers the check on Mark's desk and takes it. She endorses the check over to Bob in exchange for a used tennis racket. Mark ends up not hiring Sally to babysit. When he discovers the check is missing, he stops payment on it. Bob sues Mark to enforce payment of the check. Which of the following statements is true? a. Mark must pay Bob the amount of the check b. Mark could assert the defense of fraud in the inducement against Bob c. Mark can assert the defense of lack of delivery against Bob d. Mark can assert the defense of failure of consideration against Bob
Answer:
Bob sues Mark to enforce payment of the check
d. Mark can assert the defense of failure of consideration against Bob.
Explanation:
Failure of consideration means that there was no consideration since intended contract between Mark and Sally which would have established the consideration upon Sally's performance was frustrated. The contract did not take effect. It is an established point in contract law that there must be consideration for a contract to be valid and enforceable. Since the contract was not finalized and no performance of consideration was carried out by Sally, she had no legal right to collect Mark's check and endorse it to Bob.
Moreover, any potential contract would have been between Bob and Sally and not Mark. So, Mark can plead failure of consideration in the relationship between him and Sally, thus rendering the check's endorsement to a third party, null and void.
On August 1, 2016, Rocket Retailers adopted a plan to discontinue its catalog sales division, which qualifies as a separate component of the business according to GAAP regarding discontinued operations. The disposal of the division was expected to be concluded by June 30, 2017. On January 31, 2017, Rocket's fiscal year-end, the following information relative to the discontinued division was accumulated: Operating loss February 1, 2016 – Jan. 31, 2017 $132,000 Estimated operating losses, Feb. 1 – June 30, 2017 84,000 Impairment of division assets at Jan. 31, 2017 25,000 In its income statement for the year ended January 31, 2017, Rocket would report a before-tax loss on discontinued operations of:
Answer:
before-tax loss on discontinued operations = $157,000
Explanation:
Operating loss February 1, 2016 - January 31, 2017, $132,000
Impairment of division assets at January 31, 2017, $25,000
Rocket retailers must report a before tax loss = $132,000 + $25,000 = $157,000
Since the income statement is presented on January 31, 2017, it can only include the loss incurred until that date. Any estimated future losses will be included in future income statements.
Dansko Integrated Balance Sheet As of January 24, 2020 (amounts in thousands) Cash 9,900 Accounts Payable 2,700 Accounts Receivable 4,500 Debt 3,500 Inventory 3,800 Other Liabilities 1,000 Property Plant & Equipment 16,800 Total Liabilities 7,200 Other Assets 1,600 Paid-In Capital 8,000 Retained Earnings 21,400 Total Equity 29,400 Total Assets 36,600 Total Liabilities & Equity 36,600 Record the transactions in a journal, transfer the journal entries to T-accounts, compute closing amounts for the T-accounts, and construct a balance sheet to answer the question. Jan 25. Pay $4,000 owed to a supplier Jan 26. Issue $90,000 in stock Jan 27. Buy $16,000 worth of manufacturing supplies on credit Jan 28. Purchase equipment for $49,000 in cash Jan 29. Borrow $65,000 from a bank What is the final amount in Total Equity?
Answer:
What is the final amount in Total Equity?
$119,400Explanation:
January's balance:
Paid-In Capital 8,000
Retained Earnings 21,400
Total Equity 29,400
Jan 25. Pay $4,000 owed to a supplier
Dr Accounts payable 4,000
Cr Cash 4,000
Jan 26. Issue $90,000 in stock
Dr Cash 90,000
Cr Paid in capital 90,000
Jan 27. Buy $16,000 worth of manufacturing supplies on credit
Dr Inventory 16,000
Cr Accounts payable 16,000
Jan 28. Purchase equipment for $49,000 in cash
Dr Equipment 49,000
Cr Cash 49,000
Jan 29. Borrow $65,000 from a bank
Dr Cash 65,000
Cr Debt 65,000
Dansko Integrated
Balance Sheet
For the Month Ended January 31, 202x
Assets:
Cash $111,900
Accounts Receivable $4,500
Inventory $19,800
Property Plant & Equipment $65,800
Other Assets $1,600
Total Assets $203,600
Liabilities and equity:
Liabilities:
Accounts Payable $14,700
Debt $68,500
Other Liabilities $1,000
Total Liabilities $84,200
Equity:
Paid-In Capital $98,000
Retained Earnings $21,400
Total Equity $119,400
Total Liabilities & Equity $203,600
For each of the following, compute the future value (Do not round intermediate calculations and round your final answers to 2 decimal places. (e.g., 32.16)): Present Value Years Interest Rate Future Value $ 2,250 11 13 % $ 8,752 7 9 76,355 14 12 183,796 8 6
Answer:
1. $8,630.69
2. $15,999
3. $373,155.46
4. $292.942.90
Explanation:
The formula for calculating future value = P(1 + r)^n
P = Present value
R = interest rate
N = number of years
1. $ 2,250 (1 + 0.13)^11 = $8,630.69
2. 8,752 (1 + 0.09)^7 = $15,999
3. 76,355 (1 + 0.12)^14 = $373,155.46
4. 183,796(1 + 0.06)^8 = $292.942.90
I hope my answer helps you
For each of the following, the future value can be computed as:
1. $8,630.69
2. $15,999
3. $373,155.46
4. $292.942.90
The worth of a present asset at some point in the future based on an estimated rate of growth is known as future value (FV). For investors as well as financial planners, the future value is crucial because they use it to predict the amount an investment made now is going to be worth throughout the future. Investors may make wise investment choices based on their projected demands by knowing the future worth.
future value = P(1 + r)^n
P = Present value
R = interest rate
N = number of years
1. $ 2,250 (1 + 0.13)^11 = $8,630.69
2. 8,752 (1 + 0.09)^7 = $15,999
3. 76,355 (1 + 0.12)^14 = $373,155.46
4. 183,796(1 + 0.06)^8 = $292.942.90
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The table below shows the values for several different components of GDP.
Component Value (billions of dollars)
Consumer durables $1,329.0
Consumer nondurables 2,679.0
Services 8,112.3
Business fixed investment 2,850.0
Residential fixed investment 578.0
Inventories 93.3
Exports 2,352.3
Imports 2,901.5
Government purchases 3,189.3
Requried:
What is the value of total gross investment?
Answer:
$3,521.30
Explanation:
The computation of value of total gross investment is shown below:-
Total gross investment = Business fixed investment + Residential fixed investment + Inventories
= $2,850.0 + $578.0 + $93.3
= $3,521.30
Therefore for computing the total gross investment we simply applied the above formula and ignore all other values as they are not relevant.
31) Owen expects to receive $30,000 at the end of next year from a trust fund. If a bank loans money at an interest rate of 8.2%, how much money can he borrow from the bank on the basis of this information? A) $2460 B) $13,863 C) $27,726 D) $32,460
Answer:
c. $27,726
Explanation:
The money he can borrow using this information is
=30,000 /( 1+8.2%)
=30,000 / (1+0.082)
=30,000 / 1.082
=27726.432
=$27,726
There is demand for and supply of dollars and a demand for and supply of pesos. Under a flexible exchange rate system, if income growth in the United States is greater than income growth in Mexico, then the
Answer:
There is demand for and supply of dollars and a demand for and supply of pesos. Under a flexible exchange rate system, if income growth in the United States is greater than income growth in Mexico, then the dollar would increase its value over the peso.
Explanation:
Given that in the situation in question the quantities supplied and demanded of both currencies remain stable, in principle there should be no valuation of one over the other for reasons of supply and demand.
Now, since the economic growth in the United States that sustains the value of the dollar is greater than that growth in Mexico that sustains the value of the peso, the greater the value of the dollar in international markets. This will necessarily imply a higher valuation of the American currency, which will widen the gap in the exchange rate with respect to the peso, which instead will remain stable in global markets.
A drought decreases the supply of agricultural products, which means that at any given price a lower quantity will be supplied; conversely, especially good weather would shift the __________________ . Group of answer choices
Answer:
supply curve to the right.
Explanation:
A drought decreases the supply of agricultural products, which means that at any given price a lower quantity will be supplied; conversely, especially good weather would shift the supply curve to the right. Drought refers to a period characterized by little or no rainfall in a geographical location over a specific period of time. When there's a drought, the production of agricultural products will be very much affected, thereby causing a decrease in the quantity of farm products.
On the other hand, a good weather would cause an increase in the quantity of farm products and as a result of this, the supply curve would shift rightward because there's enough product to meet the customer's demands or needs.
True or false: The plantwide overhead rate method uses multiple rates to allocate overhead costs to products.
Answer:
Flase.
Explanation:
The plantwide overhead rate method uses multiple rates to allocate overhead costs to products.
False.
As the name indicates, the plantwide overhead rate uses a single rate to allocate overhead. When the predetermined overhead rate is calculated using the activity base method, you have as many predetermined rates as activities.
To calculate a plant-wide overhead rate, you need to use the following formula:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
True or False: If a firm changes its credit policy and allows customers to pay in 90 days instead of 60 days, and everything else remains the same, the net cash flow in the next quarter is likely to decrease.
Answer:
True
Explanation:
by increasing the time customers can pay to 90 days, the amount of cash inflows is likely to reduce. thus, the net cash flow in the next quarter is likely to decrease.
The following data relate to direct labor costs for the current period: Standard costs 7,000 hours at $11.40 Actual costs 6,400 hours at $10.10 What is the direct labor rate variance
Answer:
Direct labor rate variance= $8,320 favorable
Explanation:
Giving the following information:
Standard costs 7,000 hours at $11.40 Actual costs 6,400 hours at $10.10
To calculate the direct labor rate variance, we need to use the following formula:
Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity
Direct labor rate variance= (11.4 - 10.1)*6,400
Direct labor rate variance= $8,320 favorable
Three grams of musk oil are required for each bottle of Mink Caress, a very popular perfume made by a small company in western Siberia. The cost of the musk oil is $1.50 per gram. Budgeted production of Mink Caress is given below by quarters for Year 2 and for the first quarter of Year 3:
Year 2 Year 3
First Second Third Fourth First
Budgeted production, in bottles 60,000 90,000 150,000 100,000 70,000
Musk oil has become so popular as a perfume ingredient that it has become necessary to carry large inventories as a precaution against stock-outs. For this reason, the inventory of musk oil at the end of a quarter must be equal to 20% of the following quarters production needs. Some 36,000 grams of musk oil will be on hand to start the first quarter of Year 2.
Required:
Prepare a direct materials budget for musk oil, by quarter and in total, for Year 2. (Round "Unit cost of raw materials" answers to 2 decimal places.)
Answer:
1. Direct Materials Budget Units( bottles) 66,000 102,000 140,000 94,000 Total 452,000
2. Costs Raw Materials $ 297,000 $ 459,000 $ 630,000 $ 423,000
Total 2034,000
Explanation:
Direct Materials Budget in Bottles & Grams
Year 2 Year 3
First Second Third Fourth First
Budgeted production, 60,000 90,000 150,000 100,000 70,000
Desired Ending Inventory
20 % 0f the Production 18,000 30,000 20,000 14,000
Less Beginning Inventory
36,000/ 3 12,000 18,000 30,000 20,000 14,000
D. Materials Budget 66,000 102,000 140,000 94,000
Grams in a Bottle 3 3 3 3
Raw Materials gms 198,000 306,000 420,000 282,000
Costs $1.50 $1.50 $1.50 $1.50
Costs Raw Materials $ 297,000 $ 459,000 $ 630,000 $ 423,000
We add the desired ending inventory to the budgeted production and subtract the beginning inventory to get the direct materials budget in bottles. This is again multiplied with 3 gms and the cost per gram to get the total costs of the total grams. Each bottle contains 3 grams.
Direct Materials Budget in Bottles & Grams
Year 2
First Second Third Fourth Total
Budgeted production, 60,000 90,000 150,000 100,000 450,000
Add Desired Ending Inventory
20 % 0f the Production 18,000 30,000 20,000 14,000 82,000
Less Beginning Inventory
36,000/ 3 12,000 18,000 30,000 20,000 80,000
D. Materials 66,000 102,000 140,000 94,000 452,000
Grams in a Bottle 3 3 3 3 3
Raw Materials 198,000 306,000 420,000 282,000 1356,000
Costs $1.50 $1.50 $1.50 $1.50 1.50
Costs Raw Materials $ 297,000 $ 459,000 $ 630,000 $ 423,000
Total $ 2034,000
Part 1:
Direct Materials Budget in Bottles & Grams
Year 2
First Second Third Fourth Total
Budgeted production, 60,000 90,000 150,000 100,000 450,000
Add Desired Ending Inventory
20 % 0f the Production 18,000 30,000 20,000 14,000 82,000
Less Beginning Inventory
36,000/ 3 12,000 18,000 30,000 20,000 80,000
D.
Materials 66,000 102,000 140,000 94,000 452,000 Grams in a Bottle 3 3 3 3 3 Raw Materials 198,000 306,000 420,000 282,000 1356,000 Costs $1.50 $1.50 $1.50 $1.50 1.50 Costs Raw Materials $ 297,000 $ 459,000 $ 630,000 $ 423,000
Total Cost of Raw Material = $ 2,034,000
Part 2:
"Unit cost of raw materials"Direct Materials Budget in Bottles & Grams
Year 2 Year 3
First Second Third Fourth First
Budgeted productionProduction = 60,000 90,000 150,000 100,000 70,000
Desired Ending Inventory
20 % of the Production = 18,000 30,000 20,000 14,000
Less Beginning Inventory
Musk oil 36,000/3 = 12,000 18,000 30,000 20,000 14,000
D.
Materials Budget = 66,000 102,000 140,000 94,000
Grams in a Bottle = 3 3 3 3
Raw Materials gms = 198,000 306,000 420,000 282,000
Costs(given) = $1.50 $1.50 $1.50 $1.50
Costs Raw Materials for 4 years is = $ 297,000 $ 459,000 $ 630,000 $ 423,000
Therefore, the correct answer are :
Total Cost of Raw Material = $ 2,034,000
Cost of Raw Materials for 4 years is = $ 297,000 $ 459,000 $ 630,000 $ 423,000
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virginia has a financial responsibilty law this makes all registered motor vehicle owners responsible for any damage or personal they cause
Answer:
property, injury
Explanation:
The financial responsibility law refers to the law in which the businesses and individuals has to proof or make an assurance that they have sufficient money or assets for covering any damages that arise from an accident
Therefore in the given case, the owners of motor vehicles are responsible for any property damage or the personal injury they case
Parent Company holds 75 percent of Surrogate Company’s voting common shares. On December 31, 20X8, Parent recorded a loss of $20,000 on the sale of equipment to Surrogate. At the time of the sale, the equipment’s estimated remaining economic life was eight years. Required: a. Will consolidated net income be increased or decreased when consolidation entries associated with the sale of equipment are made at December 31, 20X8? By what amount?
Answer:
Net Increase in Net Income will be $18,125
Explanation:
In simple words, when we consolidate accounts we NEVER take account of inter-company transactions which leads to profits OR losses.
So now we will eliminate the effect of the loss recognized by the parent company and the entry would be as under:
Dr Depreciation for the year At Parent percentage XX
Dr Retained Earnings (Balancing figure) XX
Cr Loss from sale of Equipment XX
The debit balance of depreciation at the parent percentage shows that the equipment is still 75% owned by the parent company. Hence the 75% of the per year depreciation must be recognized for the year.
Increase as the loss is added back to Net Income = $20,000
Less Depreciation for the year At Parent percentage = $20,000/8 * 75%
= ($1,875)
Net Increase in Net Income = $20,000 - $1,875 = $18,125
And Double Entry is as under:
Dr Depreciation for the year At Parent percentage $1,875
Dr Retained Earnings (Balancing Earnings) $18,125
Cr Loss from sale of Equipment $20,000
The depreciation and the loss will be settle in the Cost of Goods Sold in the consolidated income statement.
A project that costs $2,000 to install will provide annual cash flows of $510 for the next 5 years. The firm accepts projects with payback periods of less than 4 years.
Required:
a. What is this project's payback period?
b. What is project NPV if the discount rate is 3%?
c. What is project NPV if the discount rate is 10%?
Answer:
3.92
NPV when I is 3% = $335.65
NPV when I is 10% = $-66.70
Explanation:
Pay back period is the amount of time it takes to recover the amount invested in a project to be recovered from the cumulative cash flows.
Payback period = amount invested / cash flow = $2000 / $510 = 3.92
Net present value is the present value of after tax cash flows from an investment less the amount invested.
NPV can be calculated using a financial calculator
Cash flow in year 0 = $-2000
Cash flow each year from year 1 to 5 = $510
NPV when I is 3% = $335.65
NPV when I is 10% = $-66.70
To find the NPV using a financial calacutor:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. After inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
I hope my answer helps you
Assume you are holding a business meeting with five people, each from a different continent (North America, South America, Europe, Africa and Asia), you being one of them. Which steps would you take to ensure that everyone is comfortable and that communication is good between everyone?
Explanation:
Holding a meeting with people from different cultures can be a big challenge, so it is necessary to organize the meeting to ensure that the different approaches and needs of each person are taken into account by the leader who will conduct the business meeting.
It is necessary to think of ideas, decisions and conduct that make all participants comfortable and are not a factor that interferes with the positive flow of the meeting. It is therefore important to develop cultural intelligence, which is an essential skill for leaders of large companies who wish to operate in the globalized market.
Cultural intelligence can be defined as the ability of a person to relate and work between different cultures, adapting and increasingly developing that intelligence (cultural quotient) in motivational, behavioral and metacognitive aspects. Through cultural intelligence it is possible for the individual to get involved efficiently in any environment, in business it is an essential skill for survival in the global market.
1. A complaint of sexual harassment by a part-time worker in a hardware business was upheld when the Tribunal found that the employer had failed to take sufficient action in relation to the employee's report of inappropriate behaviour. The alleged sexual harassment included kissing, touching her breasts and leg, persistent requests to have a drink outside work hours despite an ongoing refusal, asking for cuddles, telephoning her at home and making repeated unsolicited sexual remarks. Based on any four ethical theories, explain how these acts constitute unethical behaviours at the workplace
Answer:
Sexual harassment is an unethical behavior both at or outside workplace and this can be explained using these ethical theories; DEONTOLOGY, UTILITARIANISM, INDIVIDUAL CHARACTER ETHICS, WORKPLACE INDIVIDUAL ETHICS
1. DEONTOLOGY: This ethical theory states that a person's actions are either bad or good depending on sets of rules, actions are morally right if it is in accordance with the rules, rights et cetera. in this case the behavior does not follow any rules and there is no right given to anybody to harass a woman. This theory shows that these acts were unethical.
2. UTILITARIANISM: this theory supports actions and behaviors that brings happiness and joy to others and frowns at actions that brings sadness and unhappiness to people around us. In this case the employee is harassed which makes her unhappy so this theory labels sexual harassment as an unethical behavior.
3. INDIVIDUAL CHARACTER ETHICS: It says that there are certain qualities of a person that determine their ethics, this includes; gratitude, benevolence, respect but in this case the individual has no such traits present in him because of his disrespect towards a woman, so this theory shows how unethical those acts were.
4. WORKPLACE INDIVIDUAL ETHICS: It says that the development or presence of certain traits show the work ethics of an individual and the traits are honor, work pride, trustworthiness but in this case he has proved that there is no such trait present in him so it constitute unethical behavior at workplace.
Power Company issued a $ 1,000,000, 5 %, 10-year bond payable at at face value on January 1, 2016. Requirements
1. Journalize the issuance of the bond payable on January 1, 2016.
2. Journalize the payment of semiannual interest on July 1, 2016. (Record debits first, then credits. Select explanations on the last line of the journal entry.)
Answer and Explanation:
The journal entries are shown below:
1. Cash Dr $1,000,000
To Bond payable $1,000,000
(Being the issuance of the bond is recorded)
For recording this we debited the cash as it increased the assets and credited the bond payable as it also increased the liabilities
2. Interest Expense Dr ($1,000,000 × 5% × 1 ÷ 2) $25,000
To Cash $25,000
(Being the interest expense is recorded)
For recording this we debited the interest expense as it increased the expense and credited the cash as it decreased the asset
The Dean Company has sales of $500,000, and the break-even point in sales dollars of $300,000. What is the company’s margin of safety percentage? _________________________
Answer:
40%
Explanation:
The Dean company have a sales of $500,000
The break-even point in sales dollar is $300,000
Therefore, the company's margin of safety can be calculated as follows
Margin of safety= Sales-break-even sales/sales
= $500,000-$300,000/$500,000
= $200,000/$500,000
= 0.4×100
= 40%
Hencethe company's margin of safety percentage is 40%