Bramble Corp. purchased a truck at the beginning of 2020 for $109000. The truck is estimated to have a salvage value of $3700 and a useful life of 121000 miles. It was driven 21000 miles in 2020 and 29000 miles in 2021. What is the depreciation expense for 2021
Answer:
2020 = 18275.206
2021 = 25237.190
Explanation:
Cost of truck at beginning of 2020 = $109,000
Salvage value = $3700
Useful life = 121,000 miles
Miles driven in 2020 = 21000
Miles driven in 2021 = 29000
Depreciation expense 2020:
((Cost of asset - salvage value) / useful life) * miles driven in 2020
((109,000 - 3700) / 121000) * 21000
0.8702479 * 21000 = 18275.206
Depreciation expense 2021:
((109,000 - 3700) / 121000) * 29000
= 25237.190
MANAGING THE HEWLETT-PACK..
William R. Hewlett and David Packard, two organisational leaders who demonstrated
a
Eventually they built a very successful company that now produces more than 10,000
products, such as computers, peripheral equipment, test and measuring instruments, and
handheld calculators. Perhaps even better known than its products is the distinct managerial
style preached and practiced at Hewlett-Packard (HP). It is known as the HP way.
The values of the founders - who withdrew from active management in 1978 - still
permeate the organization. The HP way emphasizes honesty, a strong belief in the value of
people, and customer satisfaction. The managerial style also emphasizes an open-door policy,
which promotes team effort. Informality in personal relationships is illustrated by the use of
first names. Management by objectives is supplemented by what is known as managing by
wandering around. By strolling through the organization, top managers keep in touch with
what is really going on in the company.
This informal organizational climate does not mean that the organization structure has
not changed. Indeed, the organizational changes in the 1980s in response to environmental
changes were quite painful. However, these changes resulted in extraordinary company
growth during the 1980s.
Questions :
1.Is the Hewlett-Packard way of managing creating a climate in which employees are
motivated to contribute to the aims of the organization? What is unique abot the HP way?
2.Would the HP managerial style work in any organization? Why, or why not? What are
the conditions for such a style to work
Answer:
Hewlett-Packard (HP)
1. Yes. The HP way of managing is creating a climate in which employees are motivated to contribute to the organizational goals, aims, and objectives. The HP way encourages informality in personal relationships.
2. The HP managerial style would work in any organization if the organization's culture is developed to accept the style. This implies that if the organization's culture does not promote informality, it may not work.
Explanation:
Every organization develops its own cultural practices to suit its climate and structure. These will detect how the organization achieves its objectives and goals. Some organizations develop very formal structures, while others work better in informal climates. The choice depends on the business strategy that the organizations adopt to pursue their business goals.
Brad's Diner is expanding and expects operating cash flows of $32,000 a year for 4 years as a result. This expansion requires $39,000 in new fixed assets. These assets will be worthless at the end of the project. In addition, the project requires $3,000 of net working capital throughout the life of the project. What is the net present value of this expansion project at a required rate of return of 12 percent
Answer: $57,101.73
Explanation:
First find the present value of the cash inflows. The $32,000 is a constant payment so is an annuity. The net working capital will be realized at the end of the project as well.
Present value of cash inflows = (32,000 * Present value interest factor of an annuity, 4 years, 12%) + 3,000/ (1 + 12%)⁴
= (32,000 * 3.0373) + 1,906.55
= $99,101.73
NPV = Present value of inflows - Outflows
= 99,100.15 - (39,000 + 3,000)
= $57,101.73
Bantam company calculated its net income to be $77,600 based on the unadjusted trial balance. The following adjusting entries were then made for: Salaries and wages owed but not yet paid of $795. Interest earned but not received from investments of $755. Prepaid insurance premiums amounting to $555 have expired. Deferred revenue in the amount of $755 has now been earned. Required: Determine the amount of net income (loss) that will be reported after the adjustments are recorded.
Answer:
$77,760
Explanation:
After adjustment items of expenses will be deducted from the Net income, and items of income will be added to the net income.
Item of expenses = unpaid salary + Prepaid insurance (Expired)
Item of income = Interest earned + revenue
Net income after deduction = 77,600 - 795 - 555 + 755 + 755
Net income after deduction = $77,760
A company expects a shortage of raw materials required for production. What kind of factor is influencing its buying decision?
A.
individual
B.
interpersonal
C.
environmental
D.
organizational
Answer:
C.) Enviromental
Explanation:
Got this right on plato
Answer:
C
Explanation: I got it right on edmentum
Which factor would credit card companies most likely use to determine an
applicant's creditworthiness?
A. Hourly wages
B. Languages spoken
C. Political party
D. Size of family
A factor that credit card companies would most likely use to determine an applicant's creditworthiness is Hourly wages.
Credit card issue
When you apply for a credit card, you’re required to share an array of personal information on your application. This will include details like your name, address, Social Security number and current employment status. You’ll also be asked to list your income on your application, although the type of income card issuers ask for can vary depending on the card issuer.
Determination of hourly wages
Not all credit card issuers will ask for your annual net income. Some may explicitly ask for your gross income. If you are paid an hourly wage, on the other hand, you may need to figure out your gross income using last year’s tax return or by multiplying your gross weekly income by the number of weeks you work within a year.
Thus, A factor that credit card companies would most likely use to determine an applicant's creditworthiness is Hourly wages.
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What are the step(s) when using the Sales with Payment customer
workflow?
Answer:
Option (d) is correct
Explanation:
Create Invoice > Receive Payment deposited to the Undeposited Funds account > Create Bank Deposit.
Hope this provides to your accomplishment. Hit Same to stimulates the specialists to provide characteristic explications.
Although In Case you are not 100% convinced with the explanation, Feel available to comment, We will attempt to resolve the matter ASAP.
Ben sells stock (adjusted basis of $25,000) to his son, Ray, for its fair market value of $15,000. Ray sells the stock to his neighbor, Trish, for $26,000. Which of the following statements are most accurate?a. Ben’s recognized loss is $0 and Ray’s recognized gain is $1,000.b. Ben’s recognized loss is $10,000 and Ray’s recognized gain is $10,000.c. Ben’s recognized loss is $10,000 and Trish’s recognized gain is $1,000.d. Ray’s recognized gain is $11,000 and Trish’s basis is $26,000.e. None of the above
Answer:
Ray’s recognized gain = $11,000
Trish’s basis = $26,000.
Option "D" is the correct answer.
Explanation:
Given:
Adjusted value of stock = $25,000
Market vale = $15,000
Sales price = $26,000
Find:
Ray’s recognized gain
Trish’s basis
Computation:
Ray’s recognized gain = Sales price - Market vale
Ray’s recognized gain = $26,000 - $15,000
Ray’s recognized gain = $11,000
Trish’s basis = $26,000.
Beginning inventory, purchases, and sales data for prepaid cell phones for May are as follows: Inventory Purchases Sales May 1 1,300 units at $36 May 10 650 units at $38 May 12 910 units May 20 585 units at $40 May 14 780 units May 31 390 units Assuming that the perpetual inventory system is used, costing by the LIFO method, determine the cost of merchandise sold for each sale and the inventory balance after each sale. Under LIFO, if units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Merchandise Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column.
Answer:
total cost of goods sold = $78,520
Explanation:
Inventory Purchases Sales
May 1 1,300 units at $36
May 10 650 units at $38
May 12 910 units
Cost of goods sold = (650 x $38) + (260 x $36) = $34,060
May 20 585 units at $40
May 14 780 units
Cost of goods sold = (585 x $40) + (195 x $36) = $30,420
May 31 390 units
Cost of goods sold = 390 x $36 = $14,040
total cost of goods sold = $34,060 + $30,420 + $14,040 = $78,520
Newton Manufacturing has 31,000 labor hours available for producing M and N. Consider the following information: Product M Product N Required labor time per unit (hours) 2 3 Maximum demand (units) 6,500 8,000 Contribution margin per unit $ 5 $ 5.70 Contribution margin per labor hour $ 2.50 $ 1.90 If Newton follows proper managerial accounting practices in terms of setting a production schedule, how much contribution margin would the company expect to generate
Answer:
total contribution margin = $68,500
Explanation:
31,000 hours of labor available
Product M Product N
Required labor time per unit (hours) 2 3
Maximum demand (units) 6,500 8,000
Contribution margin per unit $5 $5.70
Contribution margin per labor hour $2.50 $1.90
since the constraint here is the total number of labor hours, the company must first produce the product that generates the highest contribution margin per labor hour = product M.
total units produced of product M = 6,500
total labor hours required = 6,500 x 2 = 13,000
contribution margin product M = 13,000 x $2.50 = $32,500
remaining labor hours = 31,000 - 13,000 = 18,000
total units of product N produced = 18,000 / 6 = 6,000
contribution margin product N= 18,000 x $2 = $36,000
total contribution margin = $68,500
how the consumer motivated to purchase product. what are the critaria and decision making
Answer:
In plain terms, the consumer motivation is the set of cognitive factors driving a customer's determination to make a single sale. The payment is the ultimate product of a "Purchaser's Process" scheme, a three-stage mechanism consisting of:
1.Awareness.
2.Interest.
Determination
On January 1, 2020, Novak Corp. had inventory of $56,500. At December 31, 2020, Novak had the following account balances.
Freight-in $4,800
Purchases 509500
Purchase discounts 8000
Purchase returns and allowances 2700
Sales revenue 807000
Sales discounts 6000
Sales returns and allowances 10,900
At December 31, 2020, Novak determines that its ending inventory is $66,500.
Required:
Compute Novak's 2020 gross profit.
Compute Novak's 2020 operating expenses if net income is $143,000 and thre are no nonoperating activities.
Answer:
Gross Profit ⇒ $296,500Operating expenses ⇒ $153,500Explanation:
Gross Profit;
= Net sales - Cost of Goods sold
Net sales = Sales revenue - sales discounts - sales returns and allowances
= 807,000 - 6,000 - 10,900
= $790,100
Cost of Goods sold
= Opening balance + Purchases + Freight-in - Purchase discounts - Purchase returns and allowances -closing balance
= 56,500 + 509,500 + 4,800 - 8,000 - 2,700 - 66,500
= $493,600
Gross Profit = 790,100 - 493,600
= $296,500
Operating Expense
Net Income = Gross profit - operating expenses
143,000 = 296,500 - operating expenses
Operating expenses = 296,500 - 143,000
= $153,500
Three years ago, Adrian purchased 430 shares of stock in X Corp. for $70,950. On December 30 of year 4, Adrian sells the 430 shares for $64,070. (Leave no answers blank. Enter zero if applicable. Loss amounts should be indicated with a minus sign.)
a. Assuming Adrian has no other capital gains or losses, how much of the loss is Adrian able to deduct on her year 4 tax return?
Answer:
6,880
Explanation:
You are planning to save for retirement over the next 25 years. To do this, you will invest $820 per month in a stock account and $420 per month in a bond account. The return of the stock account is expected to be 10.2 percent, and the bond account will pay 6.2 percent. When you retire, you will combine your money into an account with a return of 7.2 percent. How much can you withdraw each month from your account assuming a 20-year withdrawal period
Answer:
$10,460
Explanation:
You will contribute 25 x 12 = 300 monthly payments to your savings accounts. In order to determine their future value, we must first determine the effective interest rates:
stock account = 1.102 = (1 + r)¹²
¹²√1.102 = ¹²√(1 + r)¹²1.008127 = 1 + rr = 0.008127 = 0.81% monthly ratebond account = 1.102 = (1 + r)¹²
¹²√1.062 = ¹²√(1 + r)¹²1.0050 = 1 + rr = 0.005 = 0.5% monthly rateIn 25 years, you will have:
stock account = $820 x 1,265.21433 (PV annuity factor, 0.81%, 300 periods) = $1,037,475.75bond account = $420 x 692.99396 (PV annuity factor, 0.5%, 300 periods) = $291,057.46total = $1,328,533.21using the payout annuity formula:
P₀ = [d (1 - (1 + r/x)⁻ⁿˣ)] / (r/x)
P₀ = $1,328,533.21d = monthly withdrawal = ? r = annual interest rate = 0.072 x = number of compounding periods = 12n = number of years = 20$1,328,533.21 = [d (1 - (1 + 0.072/12)⁻²⁴⁰)] / (0.072/12)
$7,971.20 = d (1 - 0.23795)
$7,971.20 = d (0.762)
d = $7,971.20 / 0.762 = $10,460
Pacifica Industrial Products Corporation makes two products, Product H and Product L. Product H is expected to sell 40,000 units next year and Product L is expected to sell 8,000 units. A unit of either product requires 0.4 direct labor-hours.
The company's total manufacturing overhead for the year is expected to be $1,632,000.
Required:
1-a. The company currently applies manufacturing overhead to products using direct labor-hours as the allocation base. If this method is followed, how much overhead cost per unit would be applied to each product? Product H Product L Overhead cost per unit
1-b. Compute the total amount of overhead cost that would be applied to each product Product H Product L Total Total overhead cost
2. Management is considering an activity-based costing system and would like to know what impact this change might have on product costs. For purposes of discussion, it has been suggested that all of the manufacturing overhead be treated as a product-level cost. The total manufacturing overhead would be divided in half between the two products, with $816,000 assigned to Product H and $816,000 assigned to Product L If this suggestion is followed, how much overhead cost per unit would be assigned to each product? (Round your answers to 2 decimal places.)
Product H Product L
Overhead cost per unit
Answer:
1a. Product H $16,000
Product L $3,200
1b. Product H $1,360,000
Product L $272,000
Total $1,632,000
2. Product H $20.40
Product L $102.00
Explanation:
1-a. Calculation for how much overhead cost per unit would be applied to each product
Product H Product L
Number of units produced 40,000 8,000( a)
Direct labor-hours per unit (b) 0.40 0.40 (b)
(a) × (b)=Total direct labor-hours 16,000 3,200 Total =$19,200
Therefore Amount of hoverhead cost per unit applied to each product is :
Product H $16,000
Product L $3,200
1-b. Computation for the total amount of overhead cost that would be applied to each product
Product H Product L Total
Manufacturing overhead applied per unit
0.40 DLH per unit × $85.00 per DLH= $34.00 (a)
Number of units produced 40,000 8,000 (b)
(a) × (b)=Total manufacturing overhead applied $1,360,000 $272,000
Total=Product H $1,360,000+Product L $272,000
Total= $1,632,000
Predetermined overhead rate of $ 85.00 per DLH is calculated as:
Total manufacturing overhead $ 1,632,000(a)
Total direct labor-hours 19,200 DLHs(b)
(a) ÷ (b) =Predetermined overhead rate $ 85.00 per DLH
Therefore the total amount of overhead cost that would be applied to each product is :
Product H $1,360,000
Product L $272,000
Total $1,632,000
C. Calculation for how much overhead cost per unit would be assigned to each product
Product H Product L Total
Total manufacturing overhead assigned (a)
$816,000 $816,000 =$1,632,000
Number of units produced (b) 40,000 8,000
(a) ÷ (b) =Manufacturing overhead per unit $20.40 $102.00
Therefore the amount of overhead cost per unit would be assigned to each product is :
Product H $20.40
Product L -$102.00
Present owners of a network good receivegreater benefits as new buyers purchase the good. How do network externalities help a monopoly retain its market power? By exploiting network externalities, a firm can become a natural monopoly. If there are strong network externalities associated with a good, other goods are poor substitutes for it. Goods with network externalities are more likely to receive a government patent.
Answer:
How network externalities help a monopoly retain its market power:
By exploiting network externalities, a firm can become a natural monopoly.
Explanation:
In economics, Network externality describes a situation whereby the demand for a product depends on the demand of other consumers buying that product. This implies that the value of the product to the consumer is increased because others are joining as buyers. The present owners of a network product will actually gain more benefits as new buyers purchase the good because the fixed costs of rendering the service or providing the good are not increased with increasing buyers, but remain the same over a relevant range.
Assume that the accounts receivable (in millions) were $1,308 at the beginning of
1. Compute the accounts receivable turnover for Year 2 and Year 1. Round to two decima
Best Buy, Media Play,
Buy reported the following (in millions):
Sales
Accounts receivable at end of year
fiscal Year 1.
Year 2
$39,528
1,162
Year 1
$40,339
1,280
places.
2. Compute the days' sales in receivables at the end of Year 2 and Year 1. Use 365 dans
and round to one decimal place.
3.
What conclusions can be drawn from (1) and (2) regarding Best Buys
efficiency in collecting receivables?
4.
What assumption did we make about sales for the Best Buy ratio computa-
tions that might distort the ratios and therefore cause the ratios not to be comparable
for Year 2 and Year 1?
Answer:
hhhhhhhhhhhhhhhhggggggg
Mini, Inc., earns pretax book net income of $1,900,000 in 2019. Mini deducted $196,400 in bad debt expense for book purposes. This expense is not yet deductible for tax purposes. Mini reports $1,995,000 of pretax book net income in 2020. Mini did not recognize any bad debt expense for book purposes in 2020 but did deduct $147,300 in bad debt expense for tax purposes. Mini reports no other temporary or permanent differences. The applicable U.S. Federal corporate income tax rate is 21%, and Mini earns an after-tax rate of return on capital of 8%. Enter below the 2020 end-of-year balance in Mini's deferred tax asset and deferred tax liability balance sheet accounts.
If an amount is zero, enter "0". If required, round your answers to the nearest dollar.
2020
a. Deferred tax asset account balance $
b. Deferred tax liability account balance $
c. In time value of money terms, what has been the cost to Mini of the deferred tax deduction for bad debts? The present value factor at 8% is 0.9259.
Answer:
a. $10,311
b. $0
c. $9,546.95
Explanation:
a. Deferred tax asset account:
= Deferred tax asset 2019 + Deferred tax asset 2020
Deferred tax asset 2019 = Bad debt for book purposes * tax rate
= 196,400 * 21%
= $41,244
Deferred tax asset 2020 = Bad debt for tax purposes * tax rate
= 147,300 * 21%
= -$30,933
Deferred tax account balance = 41,244 + (- 30,933)
= $10,311
b. Deferred tax liability account = $0
From the given details there are no tax liabilities.
c. Cost to Mini;
= Deferred tax asset * Present value factor
= 10,311 * 0.9259
= $9,546.95
The amount of income tax payable in future years or subsequent periods in respect of taxable transitory differences is referred to as the deferred tax liability. To put it another way, deferred tax (DT) is a tax that is due in the future.
The answers for questions a, b, and c are $10,311, no tax liabilities ($0), and $ 9.546.95 respectively.
a. Computation of Deferred tax asset (DT) account:
[tex]= \text{DT of 2019} + \text {DT of 2020}\\\text{DT of 2019}= \text{ Bad debts for book purchases} \text{ x } \text{Tax rate}\\\text{DT of 2019}= 196,400 \text{ x } 0.21\\\text{DT of 2019}= 41,244\\\\\text{DT of 2020}= \text{ Bad debts for book purchases} \text{ x } \text{Tax rate}\\\text{DT of 2020}= 147,300 \text{ x } 0.21\\\text{DT of 2020}= 30,933\\\\\text{ DT balance}= 41,244 + (-30,933) \\\text{ DT balance}=10,311[/tex]
b. Deferred tax liability account = $0
There are no tax liabilities based on the information provided.
c. Computation of the cost to Mini;
DT = Deferred Asset Tax
PV = Present value factor
[tex]=\text{DT} \text{ x } \text{PV}\\\= 10,311 \text{ x } 0.9259\\\=9,546.95[/tex]
Therefore, the deferred tax deduction for bad debts is $9,546.95
For more information regarding deferred tax computations, refer to the link:
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why does this app suck i a way? i looked at this question: The managers want to know how many boxes of 12 cookies can be filled with the 3,258 cookies that have been baked. Fatima starts by subtracting the largest number of boxes she can easily calculate. She knows that 100 boxes of 12 cookies can be put into one crate. How many crates can be filled from the total of 3,258 cookies?
then an expert verified its 3 so i put it in and it said incorrect. am i not getting something or is it maybe incorrect in my platform?
Answer:
this app is fine, it has helped me a lot
Explanation:
BUT, you shouldnt rely on it all the time, unless you're genuinely struggling on grasping a topic I suggest trying to teach to yourself.
A project with a zero net present value indicates that it is acceptable. unacceptable. going to have an acceptable cash payback period. profitable.
Answer:
acceptable.
Explanation:
Project management can be defined as the process of designing, planning, developing, leading and execution of a project plan or activities using a set of skills, tools, knowledge, techniques and experience to achieve the set goals and objectives of creating a unique product or service.
Generally, projects are considered to be temporary because they usually have a start-time and an end-time to complete, execute or implement the project plan.
The net present value (NPV) of a project can be defined as the difference between present value of cash-inflow into a project and that of cash-outflow over a specific period of time. Thus, it is simply the value of all cash-flows for a project with respect to its life span.
A project with a zero net present value indicates that it is acceptable.
This ultimately implies that, investors and project managers are advised to only invest in projects that are having a positive net present value that is greater than or equal to zero.
Solve for the unknown number of years in each of the following (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.):
Present Value Years Interest Rate Future Value
$600 8% $1,393
850 12 2,330
18,800 18 367,247
21,900 14 382,983
Answer:1)10.94years , 2.) 8.90 years 3) 17.96years 4) 21.84years
Explanation:
Using the formula
FV = PV (1 + r)ⁿ
where
PV=present value
r=interest rate
n =number of periods
FV = future value.
Present Value Years Interest Rate Future Value
$600 ? 8% $1,393
850 ? 12 2,330
18,800 ? 18 367,247
21,900 ? 14 382,983
Using FV = PV (1 + r)ⁿ, The number of years can be calculated
FV/PV = (1 + r)ⁿ
FV/PV/ 1+r = eⁿ
In FV/PV / In ( 1+ r) = n
1)
n ( Number of years )=In FV/PV / In ( 1+ r)
=In ( 1,393/600) / In ( 1+ 0.08)
0.84228/0.07696
=10.94years
2.
n ( Number of years )=In FV/PV / In ( 1+ r)
=In (2330/850) / In ( 1+ 0.12)
1.00837625/0.113328685
=8.90 years
3.
n ( Number of years )=In FV/PV / In ( 1+ r)
=In (367,247/ 18,800) / In ( 1+ 0.18)
2.97217778/0.165514438
=17.96years
4.
n ( Number of years )=In FV/PV / In ( 1+ r)
=In ( 382,983/ 21,900) / In ( 1+ 0.14)
2.86150396/0.131028262
=21.84 years
MacKenzie Corporation currently has 10 million shares of stock outstanding at a price of $40 per share. The company would like to raise money and has announced a rights issue. Every existing shareholder will be sent one right per share of stock that he or she owns. The company plans to require ten rights to purchase one share at a price of $40 per share. How much money will it raise if all rights are exercised
Answer: $40,000,000
Explanation:
There are 10 million shares and the company plans to require ten rights to purchase one share.
Number of shares to be purchased will be;
= 10,000,000/10
= 1,000,000 shares
Shares are to be sold at $40 so;
= 1,000,000 * 40
= $40,000,000
Cabell Products is a division of a major corporation. Last year the division had total sales of $21,720,000, net operating income of $1,346,640, and average operating assets of $4,778,400. The company's minimum required rate of return is 15%. The division's margin is closest to: Dacker Products is a division of a major corporation. The following data are for the most recent year of operations:
Sales $38,380,000
Net operating income $ 3,758,960
Average operating assets $ 9,900,000
The company's minimum required rate of return 15%
The division's residual income is closest to:
Agustin Industries is a division of a major corporation. Data concerning the most recent year appears below:
Sales
Net operating income
Average operating assets $17,540,000 $ 648,980 $ 4,560,000
The division's return on investment (ROI) is closest to:
Agustin Industries is a division of a major corporation. Data concerning the most recent year appears below:
Sales $ 17,810,000
Net operating income $ 783,640
Average operating assets $ 4,640,000
The division's turnover is closest to:__________.
Answer:
1. Cabell Product Margin = Net operating income / Sales
Cabell Product Margin = 1346640 / 21720000
Cabell Product Margin = 0.062
Cabell Product Margin = 6.20%
2. Dacker Products Residual income = Net operating income - ( Average operating assets * Minimum required rate of return)
Dacker Products Residual income = 3758960 - (9900000*15%)
Dacker Products Residual income = 3,758,960 - 1,485,000
Dacker Products Residual income = 2,273,960
3. Agustin Return on investment = Net operating income / Average operating assets
Agustin Return on investment = 648980 / 4560000
Agustin Return on investment = 0.142320175
Agustin Return on investment = 14.23%
Agustin Turnover = Sales / Average operating assets
Agustin Turnover = 17810000 / 4640000
Agustin Turnover = 3.838362068965517
Agustin Turnover = 3.84
Select the examples of layoffs. Check all that apply. India loses her job as an Urban Planner because the city ran out of funding. Tori loses her job as a Foreign Service Officer because she is not good at communicating with or negotiating with foreign officials. Hunter loses his job as a Tax Examiner because he keeps making mistakes. Fidel loses his job as an Eligibility Interviewer because Legislators decided to cut his department, even though Fidel was very good at his job.
Answer:
Fidel loses his job as an Eligibility Interviewer because Legislators decided to cut his department, even though Fidel was very good at his job.
Explanation:
A layoff refers to the termination of an employment contract due to a shortage of work. Employers initiate layoffs. They may be a temporary suspension of employment or permanent termination.
Layoffs are not a result of an employee's fault or incompetency. They may be caused by declining revenue, some operations' shutdown, automation of processes, and outsourcing of some services.
Fidel's case was a layoff. There was no work available for him after his department was shutdown.
Answer:
A.) India loses her job as an Urban Planner because the city ran out of funding.
D.) Fidel loses his job as an Eligibility Interviewer because Legislators decided to cut his department, even though Fidel was very good at his job.
Explanation:
I don't have an explanation but I did get this right on edge
Mr. Dealer bought a fleet of SUVs (sport utility vehicles) from General Motors (GM) on credit, GM agreeing not to assign the resulting account receivable without Dealer's consent. GM later, without debtor dealer's consent, assigned the account to The Bank of New York (BNY) for consideration. Dealer made payments to BNY, but claimed damages from GM for breach of contract. 1. Could Dealer collect damages from GM
Answer:
Yes, Dealer could collect damages from GM because basically GM breached the contract. Any time a contract is breached, the non-breaching party can sue. But the real question here is what amount could the court assign to Dealer as compensation for damages incurred. If you want to rephrase this question, it would be: What damages did Dealer suffer due to GM's breach.
If the damages are not significant, then the court will probably assign some amount for nominal damages. To be honest, the greatest expenses here are actually the legal costs of the lawsuit. Unless Dealer can prove that assigning the contract actually hurt them (which I doubt), then the court will assign a small amount. Sometimes nominal damages can be very small and mostly symbolic, e.g. $1.
The Dealer could not collect damages from GM because he did not suffer any harm from the assignment of the account receivable.
The Dealer could have refused to pay the Bank of New York and claimed a breach of contract against GM Motors. But it was not a material breach.
Secondly, the sales agreement with GM Motors only required the debtor dealer's consent before the assignment. It did not forbid GM Motors from assigning the account. It does not seem that any penalty was agreed upon for breach of this clause.
Thus, the Debtor Dealer could not collect damages from GM Motors because he cannot substantially prove that GM's action put him in financial loss.
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In the Month of March, Baldwin Corporation received orders of 147 units at a price of $15.00 for their product Bill. Baldwin uses the accrual method of accounting and offers 30 day credit terms. Baldwin delivers 98 units in March and the balance of 49 units in April. They received payment for 49 units in March, 49 units in April, and 49 units in May. How much revenue is recognized on the March income statement from this order
Answer: $1,470
Explanation:
The Accrual method of Accounting means that revenue is to be recognized in the period the product was delivered to the customers.
In March, Baldwin delivered 98 units so the revenue recognized in March is;
= 98 * 15
= $1,470
The table below lists the insurance options offered by AA Auto Insurance. Calculate the monthly payment for an insurance plan including the following options:
Bodily Injury: $50/100,000
Property Damage: $100,000
Collision: $500 deductible
Comprehensive: $100 deductible
AA Auto Insurance
Type of Insurance Coverage
Coverage Limits
Annual Premiums
Bodily Injury
$25/$50,000
$22.50
$50/100,000
$31.75
$100/300,000
$40.25
Property Damage
$25,000
$120.50
$50,000
$144.75
$100,000
$193.00
Collision
$100 deductible
$520.00
$250 deductible
$415.25
$500 deductible
$275.75
Comprehensive
$50 deductible
$110.25
$100 deductible
$100.00
a.
$50.04
b.
$50.90
c.
$54.31
d.
$68.73
Based on the information given, it can be deduced that the monthly payment for the insurance plan will be A. $50.04.
An insurance simply means a protection from financial loss. It's simply used on hedging against the risk of an uncertainty.
A deductible simply means the amount of money that an individual will pay towards an insured loss. From the table, the monthly payment for the insurance plan will be $50.04.
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Answer:
The answer would be A
Explanation: I Took the quiz
Assets Liabilities
Total Reserves $60,000
Demand Deposits $200,000
Loans $140,000
The balance sheet above shows the financial situation for the Car central bank has set a reserve requirement of 10 percent. What is additional money Carland National Bank can create?
a. $600,000.
b. $40,000.
c. $200,000.
d. $60,000.
e. $400,000.
Answer:
b. $40,000
Explanation:
Calculation for What additional money Carland National Bank can create
Using this formula
Additional money=Total Reserves-(Demand Deposits*Reserve requirement percentage)
Let plug in the formula
Additional money = $60,000 -( $200,000*10%)
Additional money = $60,000-$20,000
Additional money = $40,000
Therefore the additional money Carland National Bank can create will be $40,000
During August, Boxer Company sells $360,000 in merchandise that has a one-year warranty. Experience shows that warranty expenses average about 4% of the selling price. The warranty liability account has a credit balance of $12,400 before adjustment. Customers returned merchandise for warranty repairs during the month that used $9,000 in parts for repairs. The entry to record the estimated warranty expense for the month is:
Answer:
Debit Estimated Warranty Liability $12,400
Credit Warranty Expense $12,400
Explanation:
Warranty Expense = 0.04 * Total Sales
Warranty Expense = 0.04 * $360,000
Warranty Expense = $14,400
Warranty Liability Account = Warranty Expense + Opening balance of the Warranty liability Account
Warranty Liability Account = $14,400 + $12,400
Warranty Liability Account = $26,800
The business would incur actual warranty expense of $12,400.
Debit Estimated Warranty Liability $12,400
Credit Warranty Expense $12,400
Your neighbor never mows his lawn. You don’t have any legal right to force him to mow, but the mess in his front yard is making your neighborhood unsightly and reducing the value of your house. The reduction in the value of your house is $5,000, and the value of his time to mow the lawn once a week is $1,000. Suppose you offer him a deal in which you pay him $3,000 to mow. How does this deal affect surplus?
Answer: The deal will have the effect of increasing both your surplus as well as your neighbor's
Explanation:
Assuming your neighbor accepts the deal, you would have paid $3,000 when in fact your house value had reduced by $5,000. This give you a surplus of $2,000 because you paid $2,000 less than the cost to you if your neighbor did not mow the lawn.
Your neighbor also makes a surplus because where normally it would cost them $1,000 to mow the lawn, they got $3,000. They also make a surplus of $2,000 over the cost to mow.