Answer:
$3,122.96
Explanation:
Future value = 5000
i = 8%
n = 6
m = 2
Present Value = FV(1+i/m)^mn
Present Value = 5,000(1+0.08/2)^-2*6
Present Value = 5,000(1.04)^-12
Present Value = 5,000 / (1.04)^12
Present Value = 5,000 / 1.6010322
Present Value = 3122.985284118583
Present Value = $3,122.96
At the end of 2021, Windsor Co. has accounts receivable of $749,900 and an allowance for doubtful accounts of $23,580. On January 24, 2022, it is learned that the company’s receivable from Madonna Inc. is not collectible and therefore management authorizes a write-off of $4,564.
(a)
Prepare the journal entry to record the write-off. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Answer:
DR Allowance for Doubtful Debt $4,564
CR Accounts Receivable $4,564
Using the Allowance method means that an allowance has already been provided from which uncollectible accounts will be deducted from.
When an amount is uncollectible therefore, it will be debited to the Allowance account to reduce it. Accounts receivable will be credited to recognise that a receivable is now uncollectible.
The four people below have the following investments. Invested Amount Interest Rate Compounding Jerry $ 11,400 12 % Quarterly Elaine 14,400 6 Semiannually George 21,400 8 Annually Kramer 17,400 10 Annually Required: 1-a. Calculate the future value at the end of five years
Answer:
Jerry
$20,589.67
Elaine
$19,352.40
George
$31,443.62
Kramer
$28,022.87
Explanation:
Use following formula to calculate the future value
FV = PV ( 1 + r )^n
Where
PV = Present value = Investment
FV = Future value = ?
r = interest rate per compounding period
n= numbers of compounding periods
Jerry
PV = $11,400
r = 12% x 3/12 = 3%
n = 5 years x 12/4 = 20 periods
Placing values in the formula
FV = $11,400 x ( 1 + 3% )^20
FV = $20,589.67
Elaine
PV = $14,400
r = 6% x 6/12 = 3%
n = 5 years x 12/6 = 10 periods
Placing values in the formula
FV = $14,400 x ( 1 + 3% )^10
FV = $19,352.40
George
PV = $21,400
r = 8%
n = 5 years
Placing values in the formula
FV = $21,400 x ( 1 + 8% )^5
FV = $31,443.62
Kramer
17,400 10 Annually
PV = $17,400
r = 10%
n = 5 years
Placing values in the formula
FV = $17,400 x ( 1 + 10% )^5
FV = $28,022.87
The future values of the investments are computed as follows:
Invested Amount Interest Rate Compounding Future Value
Jerry $ 11,400 12% Quarterly $20,589.67
Elaine 14,400 6% Semiannually $19,352.40
George 21,400 8% Annually $31,443.62
Kramer 17,400 10% Annually $28,022.87
Data and Calculations:
Jerry:
N (# of periods) = 20 (5 x 4)
I/Y (Interest per year) = 12%
PV (Present Value) = $11,400
PMT (Periodic Payment) = 0
Results
Future Value = $20,589.67
Total Interest $9,189.6
Elaine:
N (# of periods) = 10 (5 x 2)
I/Y (Interest per year) = 6%
PV (Present Value) = $14,400
PMT (Periodic Payment) = 0
Results
Future Value = $19,352.40
Total Interest = $4,952.40
George:
N (# of periods) = 5 years
I/Y (Interest per year) = 8%
PV (Present Value) = $21,400
PMT (Periodic Payment) = 0
Results
Future Value = $31,443.62
Total Interest = $10,043.62
Kramer:
N (# of periods) = 5 years
I/Y (Interest per year) = 10%
PV (Present Value) = $17,400
PMT (Periodic Payment) = 0
Results
Future Value = $28,022.87
Total Interest = $10,622.87
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Jerry works as an accountant in a manufacturing firm. His firm has sold goods to customers on credit, while the full payment for the goods is expected after a month. In which category should Jerry mention the price of these goods? A. accounts payable B. accounts receivable C. cost of goods sold D. depreciation E. operating expenses
Answer:
If we are talking about the price Jerry and his firm purchased goods for I would say "Cost of goods sold", if we are talking about the revenue that will be collected from customers in the future I would say "accounts recceivable"
Explanation:
Answer:
the answer is b. accounts receivable
Explanation:
a word-for-word copy from edmentum:
"Accounts receivable: Let’s say that a business sells goods to a customer on credit. The customer plans to make the payment a few months later. A business recognizes this amount as a current asset called accounts receivable until it receives the payment."
According to the video, what is the main purpose of Insurance Underwriters’ work?
to protect insurance companies
to investigate insurance claims
to sell insurance policies
to advise individual investors
Answer:
A
Explanation:
just did it lol
Answer:
A. to protect insurance companies
Explanation: Just got done on edge
The following information is available for Silver Company for the three months ended March 31, 2019:
Merchandise inventory, January 1,
2013 $900,000
Purchases 34,00,000
Freight-in 2,00,000
Sales 48,00,000
The gross margin recorded was 25% of sales. What should be the merchandise inventory at March 31, 2019?
a. $700,000
b. $1,125,000
c. $900,000
d. $1,200,000
Answer:
c. $900,000
Explanation:
The ending inventory is calculated as;
Beginning inventory
$900,000
Add: Purchases
$3,400,000
Add: Freight in
$200,000
Total purchase Balance
$3,600,000
Cost of goods available
$4,500,000
Less: Cost of (goods estimated)
($3,600,000)
Ending inventory
$900,000
Therefore, the merchandise inventory at March 31, 2019 is $900,000
Select the benefits of mentoring goal process PLS HELP ASAP
Answer:
Mentoring relationships can result in the following:
Increased knowledge transfer.
Job satisfaction.
Smart succession planning.
Development of leadership skills.
Motivation for professional development and accountability.
Achievement of goals and objectives.
Stronger internal networks.
Increased teamwork.
Explanation:
Hoffman Company purchased merchandise on account from a supplier for $65,000, terms 1/10, n/30. Hoffman Company returned $7,500 of the merchandise and received full credit.
a. If Hoffman Company pays the invoice within the discount period, what is the amount of cash required for the payment?
b. What account is debited by Hoffman Company to record the return?
Answer: a. $56925 ; b. Account payable
Explanation:
a. If Hoffman Company pays the invoice within the discount period, what is the amount of cash required for the payment?
Purchase invoice = $65000
Less: Return = ($7500)
Net Purchase Invoice = $57500
Less: Discount = $57500 × 1% = $575
Cash received = $56925
b. What account is debited by Hoffman Company to record the return?
The account that is debited by Hoffman Company to record the return is the account payable.
10,000 can be invested under two options: Option 1. Deposit the 10,000 into a fund earning an effective annual rate of i; or Option 2. Purchase an annuity-immediate with 24 level annual payments at an effective annual rate of 10%. The payments are deposited into a fund earning an effective annual rate of 5%. Both options produce the same accumulated value at the end of 24 years. Calculate i.
Answer:
I = 0.06894
Explanation:
The investment amount into 2 options is given as 10000
10000x(1+I)²⁴ is the accumulated value of option a
10000x0.10/(1-i)/1.1²⁴/0.05x1.05^24-1
= 49530.62522
To get I
(49530.62522/10000)^1/24-1
= 1.068995077 - 1
= 0.06894
Firm A issued a $1,000,000 bond with a 20-year term at a discount. If the remaining amount of the discount on bonds payable is $100,000 after 10 years and firm A retires the bond at this point at 110 (or for cash of $1,100,000), then what is the loss/gain on this bond retirement?
Answer:
Loss of $200,000
Explanation:
Carrying value of bond = $1,000,000 - $100,000
Carrying value of bond = $900,000
Cash paid on bonds = $1,100,000
Loss on bond = Cash paid on bonds - Carrying value of bond
Loss on bond = $1,100,000 - $900,000
Loss on bond = $200,000
You are an entrepreneur in the cyber security industry seeking to develop alliances in India. India has diverse regions with many different peoples, traditions, and levels of economic development. Which two regions of India may be most conducive to developing your entrepreneurial alliances? Why?
Please limit the length of responses to two paragraphs.
Answer:
Two places to conduct cyber business in India :
1. Bangalore, Karnataka
Bangalore karnataka is the also called the cyber hub of Asia. Due to the continuous work by the Karnantaka government this place has become the prime destination for cyber industries.
2. Gurugram, Haryana
After the division of hyderabad, the second best place to implement the cyber hub is gurugram due to its high availability of labor force and workplaces.
The two regions of India that may be most conducive to developing your entrepreneurial alliances will be Bengaluru and Delhi.
It should be noted that cyber security simply means the practice of defending computers, mobile devices, severs, networks, data, etc from unauthorized use.
Based on the information given, the two regions of India that may be most conducive to developing your entrepreneurial alliances will be Bengaluru and Delhi. The reason for choosing these countries is because they're the major IT hubs in the country.
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A trading arrangement that eliminates most or all barriers to trade among participating nations and utilizes common barriers to trade with other countries outside the group is called a
Answer:
preferential trade agreement
Explanation:
This agreement is known as a preferential trade agreement. It is called this because it tends to make it easier for specific goods to be traded but only to the countries that are part of the group and/or agreement. This agreement also makes it harder for countries that are not part of the agreement to be able to trade with the countries that are in order to maintain the countries within the agreement trading with each other.
Macroeconomic is the branch of economics that focuses on ?
Answer:
economic principles affecting entire countries
Explanation:
Southeast Airline had retained earnings of $1.5 million, sales of $5 million and net income of $0.5 million this year. It also paid dividends of $0.2 million this year. If the sales is projected to increase by 20% next year, what is the projected retained earnings for next year?
Answer:
$1.86 million
Explanation:
Given the above data, we can calculate the retained earning for next year to be;
Retained earning this year end = $1.5 million retained earning at the beginning + $0.5 million net income - $0.2 million dividends
= $1.8 million
How can parties that have unequal bargaining power negotiate meaningfully,
without one party taking advantage of the other?
Answer:
Through Collaborative bargaining
Explanation:
Parties that have an unequal bargaining power can negotiate meaningfully, without one party taking advantage of the other through the method known as collaborative bargaining. In collaborative bargaining, both the involved parties listen to each other’s claims and issues and then collaborate to come to a consensus. There is transparency in the overall bargaining process and hence there is very less probability that one party is taking advantage of the other party.
Who owns the factors of production in a planned economy?
A.
Individuals
B.
Nobody
C.
The church
D.
The government
Answer:
D.
Explanation:
Under a command economy, governments own the factors of production. This is also sometimes referred to as a planned economy. (I like to call it a command economy, but it's the same thing.)
Paradise Corporation budgets on an annual basis for its fiscal year. The following beginning and ending inventory levels (in units) are planned for next year. *Three pounds of raw material are needed to produce each unit of finished product. If Paradise Corporation plans to sell 545,000 units during next year, the number of units it would have to manufacture during the year would be:________
a) 492,000 units
b) 545,000 units
c) 575,000 units
d) 515,000 units
Answer: d. 515,000 units
Explanation:
If they plan to sell 545,000 units then given those beginning and ending balances of finished goods, they will have to manufacture;
= Sales + Ending balance - Beginning balance
= 545,000 + 63,000 - 93,000
= 515,000 units
A firm operated at 90% of capacity for the past year, during which fixed costs were $420,000, variable costs were 40% of sales, and sales were $1,000,000. Operating income was:____________.
a. $420,000
b. $980,000
c. $180,000
d. $1,080,000
Answer:
A
Explanation:
Based on the fixed and variable costs, as well as the sales amount, the operating income was C. $180,000.
What was the operating income?This can be found as:
= Sales - Variable costs - Foxed costs
Solving gives:
= 1,000,000 - (40% x 1,000,000) -420,000
= 1,000,000 - 400,000 - 420,000
= $180,000
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A “new product" can be new to the world, to the market, to the producer or seller, or some combination of these.
True or False
Which financial statement would include a listing of a companies assets
Answer:
Balance Sheet
Explanation:
In accounting, Balance sheet will show a complete listing of assets, liabilities and Equity of a company within a specific time period. (For most companies, the balance sheet will be made at each end of the year)
under the Assets segment, Balance sheet will specify several accounts arranged based on their liquidity. Cash usually put at the top of the list since it's considered as the most liquid assets.
People use balance sheet to give a general measurement on Company's financial health. If for example, they noticed that the liability is significantly larger than their assets, investors might feel discourage to invest in the company.
The manager of Lawn and Garden Services would like to estimate the proportion of her employees' time spent performing various gardening and lawn care activities. She has made 400 random observations of a typical worker, with the following results:
Activity Time Observed
Mowing 200
Trimming 80
Raking 40
Miscellaneous 80
What is the probability that the true proportion of time spent mowing is exactly equal to the sample proportion?
a) 1
b) 0
c) .5
d) .2
e) 1
Answer:
b) 0
Explanation:
In this case, the manager observed that a worker spent 50% of his/her time mowing the garden, but in case this is correct, it would only apply to this worker. She would need to collect data and analyze it from a much larger sample which includes other workers in order to determine if this proportion applies to whole group. You cannot infer a conclusion based on a limited amount of data collected from just one subject. The methodology is incorrect.
International trade specialists that buy goods at a discount from a small businesses and resell them abroad are called
A. commission house brokers
B. exporting trade companies
C. business trade unions
D. domestic channel companies
Answer: B. exporting trade companies
Explanation:
Trade unions are the organisations that are out in place so as to protect the interest of workers. They negotiate for better wages and salaries, provide job security, and seek better working conditions for their workers.
Export trading company is simply referred to as an independent company that helps in the provision of support services to the companies that are involved in the exportation of goods and services.
Commission house brokers is simply an individual who helps in representing people who have properties.
Therefore, the answer is exporting trade companies.
Mario a publicly held corporation with a 21 percent tax rate, has agreed to pay an annual salary of 1.3 million to its employees Mrs. ryman in making your calculations ignore the employer payroll tax
Answer:
ah
Explanation:
Ms. Smith employs 50 salespeople to sell copiers. If she wants information on the typical number of copiers sold by a salesperson, which Data Analysis tool should she use
Answer:
Descriptive statistics
Explanation:
If Ms smith wants information on the typical number of copiers sold by a salesperson she has to use descriptive statistics.
Descriptive statistics is used to describe data. It gives basic summary of the sample and also measures. It entails the usage and analysis of the collected data. Therefore descriptive statistics is the data analysis tool that she would need.
Watters Umbrella Corp. issued 15-year binds two years ago at a coupon rate of 6.2 percent. The bonds make semiannual payments. If these bonds currently sell for 98 percent of par value, what is the YTM?
Answer:
YTM = 6.42%
Explanation:
current market value = $1,000 x 98% = $980
n = (15 - 2) x 2 = 26
coupon = $1,000 x 6.2% x 1/2 = $31
face value = $1,000
YTM = [coupon + [(face value - market value)/n]} / [(face value + market value)/2]
YTM = [31 + [(1,000 - 980)/26]} / [(1,000 + 980)/2]
YTM = (31 + 0.77) / 990 = 31.77 / 990 = 0.03209 x 2 (annual yield) = 0.641818 = 6.42%
A deposit of $1000 is made in a bank account that pays 24% interest per year compounded quarterly. Approximately how much money will be in the account after 10 years
Answer:
$10,285.72
Explanation:
In this scenario, we can use the compound interest formula to calculate the total after 10 years. The formula is the A = P * [tex](1 + r/n)^{nt}[/tex]
where,
A = final value after interest
P = initial investment amount
r = annual interest rate in decimal form
n = number of time the interest is compounded based on t
t = total amount of time
In this case, the interest is compounded quarterly meaning 4 times a year, therefore we can plug all the values into the formula and solve for A
A = P * [tex](1 + r/n)^{nt}[/tex]
A = 1000 * [tex](1 + 0.24/4)^{4*10}[/tex]
A = 1000 * [tex](1.06)^{40}[/tex]
A = 1000 * 10.2857
A = 10,285.72
Therefore after 10 years the account will have a total of $10,285.72
Irfan runs a small business. His business’s total liabilities amount to $200,000. His net profit for the latest accounting period is $50,000. The total value of all the business assets comes to $600,000. What is the debt to asset ratio in the case of Irfan’s business? The debt to assets ratio of Irfan’s business, to two decimal places, is percent.
Small businesses are either services or retail operations like grocery stores, medical stores, tradespeople, bakeries, and small manufacturing units.
What is the meaning of Small businesses?Small companies typically offer services or are retail establishments like grocery stores, pharmacies, tradesmen, bakeries, and micro-manufacturing facilities. Small businesses are privately held companies that need less equipment, labor, and cash than larger companies.
The most straightforward type of business is a sole proprietorship. Small businesses are distinct legal entities such as corporations, partnerships, and sole proprietorships that have fewer employees and/or lower yearly income than a regular-sized company. Businesses are considered "small" if they are eligible for government assistance and favorable tax treatment.
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One of the draw backs of the profitablity index as a criteria for judging whether to accept a capital investment project is that:_______
Answer:
It might lead to over-optimistic projections
Explanation:
In simple words, the problem with using profitability index as the index criteria lies with the procedure of estimating it. In order to consider the business situation, the organisational finance group requires to settle with the corporation supervisors.
Leadership may be too enthusiastic about their assignment, so forecasts for cash flow may be too substantial. Consequently, in predicting the profitability index, there may be an uptrend prejudice.
A manager wishes to build a 3-sigma range chart for a process. The sample size is five, the mean of sample means is 16.01, and the average range is 5.3. What are the UCL and LCL, respectively, for this range chart?
a. 33.9 and 11.2
b. 6.3 and 0
c. 11.2 and 0
d. 33.9 and 0
Answer:
c. 11.2 and 0
Explanation:
The computation of the upper control limit and the lower control limit is shown below:
Average Range = R = 5.3
Now
The Upper control Limit is
= D4 × R
= 2.115 × 5.3
= 11.2095
And,
The Lower control limit is
= D3 × R
= 0 × 5.3
= 0
Hence, the correct answer is Option C i.e. 11.2 and 0
WHAT IS IT?
1.it can be use as thickening agent or as a weak glue
3.a food spread made from dry roasted peanuts
Answer:
I believe its Peanut Butter.
Sheridan Company receives a $14000, 3-month, 8% promissory note from Carla Vista Company in settlement of an open accounts receivable. What entry will Sheridan Company make upon receiving the note?
Answer and Explanation:
The journal entry to record while receiving the note is shown below:
Notes receivable Dr. $14,000
To Accounts receivable $14,000
(Being receiving of the note is recorded)
Here the note receivable is debited as it increased the assets and credited the account receivable as it decreased the assets
The same is to be considered