Answer:
It will take 337.18 years before you have enough to buy the car.
Explanation:
This can be calculated using the future value (FV) formula as follows:
FV = PV * (1 + r)^n ...................... (1)
Where:
FV = future value or the price of Ferrari = $180,000
PV = present value or thee amount you have today = $29,000
r = annual interest rate = 3.6%, or 0.036
n = number of years = ?
Substituting the values into equation (1) and solve for n, we have:
$180,000 = $29,000 * (1 + 0.036)^n
$180,000 - $29,000 = 1.036^n
151,000 = 1.036^n
Loglinearizing, we have:
log151,000 = nlog1.036
5.17897694729317 = n * 0.0153597554092142
n = 5.17897694729317 / 0.0153597554092142
n = 337.18
Therefore, it will take 337.18 years before you have enough to buy the car.
Consumers buy goods or services they want or need.
True
False
Answer:
True
Explanation:
The maximum one-day loss computed for the value-at-risk (VaR) method does not depend on: a. the current level of interest rates. b. the standard deviation of the daily percentage changes in the currency over a previous period. c. the confidence level used. d. the expected percentage change in the currency for the next day
Answer:
a. the current level of interest rates
Explanation:
The current interest rate represent the factor that does not based upon the rate of interest as it does not modify on the frequentyly basis such as the price of the stock or the current price. In the case when we do the trasing in the stock market so the standard deviation would be used in order to get to know the stock volatility
Hence, the option a is correct
As a marketing term, __________ generally includes not only physical goods, but also services and ideas. Multiple Choice marketing invention merchandise product concept
Answer:
product
Explanation:
The product is an item that the company offer to its customer for buying the product. It is not only the goods that to be kept physically but it also consist of the services and ideas so that it become differentiate with the competitor. The product can be differentiate in terms of cost, quality, quantity, presentable form via having the innovative ideas
So, the 2nd last option is correct
PERSONAL FINANCE 10 POINTS// WILL GIVE BRAINLIEST
What is likely to be TRUE about making financial decisions as people get older?
A.
Financial decisions become bigger and more complex.
B.
Making decisions is easier as there are fewer risks involved.
C.
There are fewer major decisions to make.
D.
Financial situations will be simpler with fewer consequences.
Financial decisions become bigger and more complex.
In response to dwindling sales of organic meats, Hain Celestial executives decided to promote the sale of organically grown nuts as an alternative source of protein, which is an excellent example of a firm's:
Answer:
Product substitute
Explanation:
Product substitute is defined as one that meets similar needs of the consumer. As demand for one of such goods rises the demand of the other tends to fall as the meet similar needs.
In the given scenario organic meats are seen as being substituted by organically grown nuts as a source of protein.
So when Hain Celestial has dwindling sales of organic meats they were considering organically grown nuts as a different product to give to customers
Japan has been one of China's largest sources of imports, along with South Korea and the United States. Because there is still political enmity between China and Japan due to the Japanese occupation of parts of China during World War II, the best explanation for the present Japanese trade relationship with China is
Answer: c. geographical proximity
Explanation:
The Japanese and the Chinese have not been on the best of terms for centuries and this became worse in the 20th century with Japanese attacks on the Chinese and then after those ended with the second world war, Japan was and still is firmly in the U.S. camp which China does not appreciate.
This hasn't stopped Japan and China from trading however because they are so close to each other and so logistical benefits ensure that they are some of each others' biggest trading partners.
Quantum Inc. has warrants outstanding that allow the holder to purchase 1.5 shares of stock per warrant at $30 per share (exercise price). Thus, each individual share can be purchased at $30 with the warrant. The common stock is currently selling for $36. The warrant is selling for $12.
Required:
a. What is the intrinsic (minimum) value of this warrant?
b. What is the speculative premium on this warrant?
c. What should happen to the speculative premium as the expiration date approaches?
Answer:
A. $9.00
B. $3.00
C. Decrease
Explanation:
a. Calculation to determine the intrinsic (minimum) value of this warrant
Using this formula
I = (M – E) × N
Where,
I represent Intrinsic value of a warrant
M represent Market value of common stock
E represent Exercise price of a warrant
N represent Number of shares each warrant entitles theholder to purchase
Let plug in the formula
I=($36 – $30) *1.5
I=$6*1.5
I = $9.00
Therefore the intrinsic (minimum) value of this warrant is $9.00
b. Calculation to determine the speculative premium on this warrant
Using this formula
S = W – I
Where,
S representSpeculative premium
W represent Warrant price
I represent Intrinsic value.
Let plug in the formula
S=$12-[($36 – $30) *1.5]
S=$12 – $9
S = $3.00
Therefore the speculative premium on this warrant is $3.00
c.What should happen to the SPECULATIVE PREMIUM as the expiration date approaches is for it to DECREASE and thereby approach $0.
If 10,000 pounds of direct materials are purchased for $9,300 on account and the standard cost is $.90 per pound, the journal entry to record the purchase is Raw Materials Inventory 9,300 Accounts Payable 9,000 Materials Price Variance 300 Raw Materials Inventory 9,000 Materials Price Variance 300 Accounts Payable 9,300 Work In Process Inventory 9,300 Accounts Payable 9,000 Materials Quantity Variance 300 Raw Materials Inventory 9,300 Accounts Payable 9,300
Answer:
Raw Materials Inventory 9,000 Materials Price Variance 300 Accounts Payable 9,300
Explanation:
Based on the information given journal entry to record the purchase is
Dr Raw Materials Inventory $9,000
(10,000 pounds*$.90 per pound)
Dr Materials Price Variance $300
($9,300-$9,000)
Cr Accounts Payable $9,300
(To record purchase)
According to the text, all of the following are ways managers can improve their writing skills EXCEPT: a. respecting the reader. b. writing lengthy explanations. c. knowing your point and get to it. d. getting a second opinion. e. writing clearly rather than impressively.
Answer:
According to the text, all of the following are ways managers can improve their writing skills EXCEPT:
b. writing lengthy explanations.
Explanation:
The key to successful business reports is writing briefly. Managers who write lengthy explanations will not get the attention of their readers. Business reports should be highly summarized, concise, and be relevant at all times. A brief report respects the reader's time. It shows that the writer knows the relevant points to include.
Brett wants to sell throw blankets for the holiday season at a local flea market. Brett purchases the throws for $15 and sells them to his customers for $35. The rental space is fixed fee of $1,500 for the season. Assume there is no leftover value for unsold units. If he orders 200 and demand is 150, what is the payoff
Answer:
$750
Explanation:
Total cost for Brett = Rental cost + Buying cost for 200 throws
Total cost for Brett = $1,500 + ($15*200)
Total cost for Brett = $1,500 + $3,000
Total cost for Brett = $4,500
Total income for Brett = Demand * Selling cost
Total income for Brett = 150 * $35
Total income for Brett = $5,250
Payoff = Income - Cost
Payoff = $5,250 - $4,500
Payoff = $750
Assume that the Fed increases the money supply when there is substantial unemployment in the economy. According to the quantity theory of money, if velocity is constant, then:
Answer:
Nominal GDP will increase.
Explanation:
Sales-Value-at-Split-off Method Alomar Company manufactures four products from a joint production process: barlon, selene, plicene, and corsol. The joint costs for one batch are as follows: Direct materials $67,900 Direct labor 34,000 Overhead 25,500 At the split-off point, a batch yields 1,400 barlon, 2,600 selene, 2,500 plicene, and 3,500 corsol. All products are sold at the split-off point: barlon sells for $15 per unit, selene sells for $20 per unit, plicene sells for $26 per unit, and corsol sells for $35 per unit.
Required:
Allocate the joint costs using the sales-value-at-split-off method. If required, round allocation rates to four decimal places and round the final allocations to the nearest dollar.
Allocated Joint Cost
Barlon $
Selene
Plicene
Corsol
Total $
Answer:
Alomar Company
Allocation of Joint Costs:
Barlon = $10,270
Selene = $25,431
Plicene = $31,789
Corsol = $59,910
Total = $127,400
Explanation:
a) Data and Calculations:
Joint costs:
Direct materials $67,900
Direct labor 34,000
Overhead 25,500
Total joint costs $127,400
Joint Products Barlon Selene Plicene Corsol Total
Batch output units 1,400 2,600 2,500 3,500 10,000
Selling price per unit $15 $20 $26 $35
Sales value $21,000 $52,000 $65,000 $122,500 $260,500
Allocation of Joint Costs:
Barlon = $10,270 ($21,000/$260,500* $127,400)
Selene = $25,431 ($52,000/$260,500* $127,400)
Plicene = $31,789 ($65,000/$260,500* $127,400)
Corsol = $59,910 ($122,500/$260,500* $127,400)
Wayne owns a 30% interest in the capital and profits of Emerald Company (a calendar year partnership). For tax year 2020, the partnership earned revenue of $900,000 and had operating expenses of $660,000. During the year, Wayne withdrew from the partnership a total of $90,000. He also invested an additional $30,000 in the partnership. For 2020, Wayne's gross income from the partnership is: a.$162,000. b.$72,000. c.$132,000. d.$90,000.
Answer:
$72,000
Explanation:
Calculation to determine what Wayne's gross income from the partnership is:
Using this formula
Gross income=Interest in the capital×(Partnership earned revenue -Operating expenses )
Let Plug in the formula
Gross income=30% ×($900,000 – $660,000)
Gross income = $72,000
Therefore Wayne's gross income from the partnership is:$72,000
i am meeting my new team, which I will directly supervise for the first time. I introduce myself and jump right into the agenda items for the jobs each team member will be assigned. I am using ______.
In its first month of operations, Cheyenne Corp. made three purchases of merchandise in the following sequence: (1) 185 units at $5, (2) 570 units at $6, and (3) 130 units at $7.Assuming there are 260 units on hand, compute the cost of the ending inventory under the (a) FIFO method and (b) LIFO method. Cheyenne uses a periodic inventory system.
Answer:
a. $1,375
b. $1,240
Explanation:
FIFO method
FIFO assumes that the inventory to arrive first will be sold first. Inventory values depend on earlier purchases
Inventory = 185 x $5 + 75 x $6
= $1,375
LIFO method
LIFO assumes that the inventory to arrive last will be sold first. Inventory values depend on recent purchases
Inventory = 130 x $7 + 55 x $6
= $1,240
A very large company would be most likely to have a(n) ___ at the ahead of its accounting department.
A. Executive vice president
B. Controller
C. Chief financial officer
D. Accounting manager
A very large company would be most likely to have a Chief financial officer as the head of its accounting department.
The Chief Financial Officer (CFO) would most likely be in charge of the accounting division of a very large corporation. A company's Chief Financial Officer (CFO) is in charge of all financial operations, including accounting, budgeting, financial reporting, and forecasting. The day-to-day accounting activities of a corporation are managed by the controller, who holds a mid-level role. The basic duties of the accounting manager include leading a group of accountants and supervising the creation of financial statements and reports. Even though the executive vice president may be in charge of the entire organization, they could not have specific knowledge of accounting and finance.
A Chief Financial Officer (CFO) is a senior executive accountable for directing the financial actions of a firm. Monitoring cash flow, assessing the firm's financial advantages and disadvantages, and creating strategies for financial expansion are all tasks assigned to the CFO. Also, they are in charge of supervising the creation of predictions and current financial reports. In conclusion, the CFO is essential to the efficient management of a company's finances.
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Lake Incorporated purchased all of the outstanding stock of Huron Company paying $961,000 cash. Lake assumed all of the liabilities of Huron. Book values and fair values of acquired assets and liabilities were: Book Value Fair Value Current assets (net) $ 130,300 $ 124,700 Property, plant, equip. (net) 614,000 769,000 Liabilities 151,800 175,000 Lake would record goodwill of:
Answer:
$242,300
Explanation:
Goodwill = Purchase Price - Net Assets taken over at Fair Value
where,
Purchase Price = $961,000
Net Assets taken over at Fair Value = $ 124,700 + $769,000 - $175,000 = $718,700
therefore,
Goodwill = $961,000 - $718,700 = $242,300
conclusion :
Lake would record goodwill of $242,300
If reserves increase by $12 billion, what is the difference in the resulting change in checkable deposits when the required reserve ratio is 10 percent compared to when it is 8 percent
Answer:
$30 billion
Explanation:
Calculation to determine the difference in the resulting change in checkable deposit
Using this formula
Difference in checkable deposit=Increase in reserve/(1* Reserve ratio 8%)-Increase in reserve/(1* Reserve ratio 10%)
Let plug in the formula
Difference in checkable deposit=$12 billion/(1*8%)-$12 billion/(1*10%)
Difference in checkable deposit=$12 billion/0.08-$12 billion/0.10
Difference in checkable deposit=$150 billion-$120 billion
Difference in checkable deposit=$30 billion
Therefore the difference in the resulting change in checkable deposit is $30 billion
A division of Frank Clothiers had 36 openings for assistant store manager last year. As part of their voluntary affirmative action plan, they filled the vacancies with 16 African-Americans, 10 Hispanics, and 10 Whites. The selection process was a multiple-hurdle approach which began with an application form and a test of basic verbal and math skills called the Wonderlic Personnel Test. Applicants who scored 25 (out of 50) or higher on the test were then given an interview with the store managers. Based on the interview performances, the vacancies were filled. The numbers of African-Americans, Hispanics, and Whites who passed the test were as follows:_______.
Test ScoresAfrican-AmericansHispanicsWhites# scoring 25 or more252874# scoring less than 25262029Totals5148103Dennis Goebel, one of the African-American applicants who scored 19 on the test, filed a suit on behalf of all African-American applicants who failed. Mr. Goebel claimed race discrimination based upon Title 7. Frank Clothiers argued that more African-Americans were actually hired than any other protected class. Thus, the company asserts, there is obviously no racial discrimination in the selection process.Can disparate impact theory be used in cases involving subjective selection processes like interviews? What Supreme Court case supports your decision?
Answer:
Explanation:
Yes, Disparate Impact Theory can be used in this case relating to the processes of subjective selection such as interrogations. If a discriminatory workplace practice has an unfair and aggressive impact on minorities, it may be in violation of Title VII. Professional individual employees who support on the basis of discretionary judgments without intending to do so are engaging in biased conduct.
The case of Watson V. Fort Worth Bank & Trust will be used to support my claim. Clara Watson turned down a promotion that was contingent on an interview under this scenario.
The U.s. Supreme Court Declared that a Title VII claim to a strategy of subjection enforcement can only be investigated under the unequal care principle. In the majority decision, the Court allowed the principle of (disparate effects) to apply to arbitrarily defined work practices.
A tax on a good Group of answer choices gives buyers an incentive to buy less of the good than they otherwise would buy. gives sellers an incentive to produce more of the good than they otherwise would produce. creates a benefit to the government, the size of which exceeds the loss in surplus to buyers and sellers. All of the above are correct.
Answer:
gives buyers an incentive to buy less of the good than they otherwise would buy
Explanation:
The tax on the product means that it provided the inventive to the buyer in the case when the buyer purchase less of the product as compared when they purchase in other way
So according to the given situation, the tax on a good fits to the first option only
Therefore only first option is correct
Hence, the other options seems incorrect
An organization with customer-focused design with the inverted organization structure puts the empowered front-line workers at the top of the pyramid. A good example of this form of organization includes _____.
Answer:
tellers at JP Morgan Chase branches.
Explanation:
The organization i.e. customer focused along with it, it is inverted organization that empowered the front line workers at the upper level of the pyramid so this organization form represent the example of the tellers at the branches of JP Morgan chase where the same thing happen
So the same is to be considered
On October 1, Swifty's Painting Service borrows $101000 from National Bank on a 3-month, $101000, 4% note. The entry by Swifty's Painting Service to record payment of the note and accrued interest on January 1 is
Answer:
Dr notes payable $101,000
Dr interest payable $1010
Cr cash $102,010
Explanation:
The accrued interest to be recognized on 31 December after 3 months have passed since the borrowing took place is computed thus:
3-month accrued interest=principal borrowed*interest rate*3/12
principal borrowed=$101000
interest rate=4%
3-month accrued interest=$101,000*4%*3/12
3-month accrued interest=$1,010
Initially, when the borrowing was taken, the note payable account would have been credited with $101,000 while cash was debited since cash as an asset has increased.
On December 31, we would record interest of $1,010 as expense while interest payable is credited
Amount paid at maturity=principal+interest
Amount paid at maturity=$101,000+$1010
Amount paid at maturity=$102,010
Which one of the following statements is correct with respect to coinsurance used with commercial insurance policies? A. The rates ordinarily used for insuring buildings and personal property are calculated with the assumption that they will be used with a 100 percent coinsurance clause. B. When a policy requires a coinsurance percentage higher than 80 percent, the 80 percent coinsurance rate remains the same. C. When the coinsurance requirement is less than 80 percent, the rate is decreased. D. The 80 percent coinsurance rate is reduced when a policy requires a higher coinsurance percentage.
Answer:
D. The 80 percent coinsurance rate is reduced when a policy requires a higher coinsurance percentage.
Explanation:
Coinsurance is the amount which is fixed cost payable by the insurance seeker in order to provide claim against the risk. The coinsurance rate is decided based on the risk nature. If the risk is high the coinsurance rate will be higher so that insurance coverage is maximum.
Question Help At the Wild Cat Group Company, the cost of the library and information center has always been charged to the various departments based upon number of employees. Recently, opinions gathered from the department managers indicate that the number of engineers within a department might be a better predictor of library and information center costs. Total library and information center costs are $213,000. Department A B C Number of employees 145 540 140 Number of engineers 0 85 40 If the number of employees is considered the cost driver, what amount of library and information center costs will be allocated to
Answer:
$37,436.36
Explanation:
The computation of the amount of library and information center costs will be allocated to department A is shown below;
= Total library and information center costs × department A employees ÷ total number of employees
= $213,000 × 145 ÷ (145 + 540 + 140)
= $213,000 × 145 ÷ 825
= $37,436.36
hence, the amount would be $37,436.36
Net income was $503,000 in 2020, $473,000 in 2021, and $521,000 in 2022. What is the percentage of change from (a) 2020 to 2021, and (b) from 2021 to 2022
Answer and Explanation:
The computation of the percentage of change is as follows;
a. For 2020 to 2021
= (Net income in 2021 - net income is 2020) ÷ (net income in 2020)
= ($473,000 - $503,000) ÷ ($503,000)
= -5.96% decrease
b .For 2021 to 2022
= (Net income in 2022 - net income is 2021) ÷ (net income in 2021)
= ($521,000 - $473,000) ÷ ($473,000)
= 10.15% increase
In this way it is calculated
Sales revenue $440,000 Advertising expense 60,000 Interest expense 10,000 Salaries expense 55,000 Utilities expense 25,000 Income tax expense 45,000 Cost of goods sold 180,000 What is operating income
Answer:
Lake's operating income is $120000
Explanation:
Operating income is the income generated by the operations of company less its operating cost. Another name that is used for operating income is Earnings before interest and tax (EBIT). The charges or income relating to non operating or financing activities is not included in the operating income and nor is the tax deduction included.
The formula for operating income = Sales - Cost of Sales - operating expenses.
The operating expenses here, are = Advertising + Salaries + Utilities
Thus, operating expenses = 60000 + 55000 + 25000 = $140000
The Operating Income = 440000 - 180000 - 140000 = $120000
Operational income is calculated as follows: sales, cost of sales, and operational expenditures.
Here, the running costs are calculated as follows: marketing + salaries + utilities
Operating expenditures thus equal $60,000 plus $55,000 plus $25,000 for a total of $140000.
Operating Income: ($120000) = (440,000 - 188,000 - 148,000)
An accounting concept known as operational income assesses the amount of profit generated by a company's activities after operating costs like salaries, depreciation, and cost of goods sold (COGS) have been subtracted.
Operating income, also known as income from operations, is calculated by deducting all operating costs from a company's gross income, which is equal to total sales less COGS. Operating costs are those incurred by a business during regular business operations and include things like office supplies and electricity.
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Peter, Paul, and Mary go to an all-you-can-eat buffet. The normal entrance fee is $20, but Peter gets in free because it is his birthday and they have a special. Paul uses a coupon and only pays $10. Mary is the only one to pay the full $20. They are all equally hungry and have an equally large appetite. If they are all rational decision makers, the person who should eat the most is:
Answer:
mary
Explanation:
A rational consumer would consume up to the point that marginal benefit equal marginal cost
Mary paid $20. this means that she places a value of $20 on the meal.
Paul paid $10. this means that he places a value of $10 on the meal
The value Mary places is 20, so she places a higher value and she would consume the most
Peter enters free and thus there is no marginal cost attached to this decision. He should consume the least
Corporations whose stock is traded in a public market must report earnings per share on their a.balance sheet. b.statement of stockholders' equity. c.Earnings per share is not reported on the financial statements. d.income statement.
Answer:
d.income statement.
Explanation:
A corporation can be defined as a corporate organization that has facilities and owns or controls assets used for the production of goods and services in at least one country other than its headquarter (home office) located in its home country.
This ultimately implies that, a corporation is a corporate organization that owns or controls its business in two or more countries.
One of the advantage of a corporation is that, owners have limited liability for debt to the extent to which they have invested and as such are not personally liable for some of debt owed by corporation.
Generally, it is considered to be one of the most complicated and expensive type of organization. Generally, a corporation is considered to be perpetual in nature and it is a body that comprises of a group of people such as directors, shareholders etc., who act as a single entity. Also, corporations can be sold through stocks or shares, as a public entity.
A corporation that its stock is being traded in a public market is required to report earnings per share on their income statement.
Aquamarine Corporation, a calendar year C corporation, makes the following donations to qualified charitable organizations during the current year: Adjusted Basis Fair Market Value Painting held four years as an investment, to a church, which sold it immediately $21,120 $35,200 Apple stock held two years as an investment, to United Way, which sold it immediately 55,440 123,200 Canned groceries held one month as inventory, to Catholic Meals for the Poor 7,140 11,900 Determine the amount of Aquamarine Corporation's charitable deduction for the current year. (Ignore the taxable income limitation.) Painting: The amount of the contribution is basis . Stock: The amount of the contribution is fair market value . Groceries: The amount of the contribution is basis plus 50% of the appreciation on the property . Therefore, the total charitable contribution is $fill in the blank 4 .
Answer:
$153,840
Explanation:
Calculation to determine Determine the amount of Aquamarine Corporation's charitable deduction for the current year.
Using this formula
Total charitable deduction= PAINTING: basis
+STOCK: fair market value+GROCERIES: basis + 50% appreciation on property
Let plug in the formula
Total charitable deduction = $21,120 + 123,200 + 7,140 + 0.5(11,900-7,140)
Total Charitable deduction= $21,120 + 123,200 + 7,140 + 0.5(4,760)
Total charitable deduction= $21,120 + 123,200 + 7,140 + 2,380
Total charitable deduction=$153,840
Therefore the amount of Aquamarine Corporation's charitable deduction for the current year is $153,840
As a general construction contractor, WDF INC. contracted to renovate schools in New York City. WDF subcontracted with JLG Architectural Products, LLC to supply windows for the renovation. Under the subcontract, a company called East Coast Window Installers Inc. was designated to install the windows for the project. The subcontract provided that JLG Architectural Products and East Coast Window Installers would perform and complete the subcontract work together. The subcontract also specifically acknowledged that JLG Architectural Products proposed the work in partnership with East Coat Window Installers. After completion of the project, a dispute over payment and the quality of workmanship arose between the parties. WDT claimed that JLG Architectural Products and East Coast Window Installers should be jointly and severally liable for any liability found against either party, because the two were partners in the window installation project. Was WDF correct
Answer:
WDF Inc. is correct. From the fact that JLG Architectural Products and East Coast Window Installers Inc. were partners in the window installation subcontract, they should be jointly and severally held liable for any liability arising from the window installation project unless they have contrary agreements clearly differentiating their liabilities in the partnership.
Explanation:
WDF Inc. = main contractor
JLG Architectural Products = subcontractor and partner to East Coast
East Coast Window Installers Inc. = subcontractor and partner to JLG
JLG Architectural Products and East Coast Window Installers Inc have formed a partnership when they come together to form a business or execute a business transaction jointly. A joint venture is a kind of partnership.