Answer and Explanation:
The Journal entry is shown below:-
a. 1. Salaries expenses Dr, $8,800 ($22,000 × 5 ÷ 2)
To Accrued salaries $8,800
(Being salaries expense is recorded)
2. Salaries expenses Dr, $13,200 ($22,000 × 5 ÷ 3)
To Accrued salaries $13,200
(Being salaries expense is recorded)
b. 1. Insurance expense Dr, $5,300
To Prepaid insurance $5,300
(Being insurance expense is recorded)
2. Insurance expense Dr, $15,300 ($18,000 - $2,700)
To Prepaid insurance $15,300
(Being insurance expense is recorded)
c. 1. Prepaid license taxes Dr, $54,000
To license taxes $54,000
(being license tax is recorded)
2. Property tax Dr, $4,800
To Property tax payable $4,800
(Being property tax is recorded)
(2) the amount of tax expense for July is $4,800
which of the following is referred to as self service machine a. GSM b. ISO c. ATM d. calculator
Answer:
ATM
Explanation:
Kingbird Company has five employees participating in its defined benefit pension plan. Expected years of future service for these employees at the beginning of 2020 are as follows.
Employee Future Years of Service
Jim 3
Paul 4
Nancy 5
Dave 6
Kathy 6
On January 1, 2020, the company amended its pension plan, increasing its projected benefit obligation by $88,560.
Required:
Compute the amount of prior service cost amortization for the years 2020 through 2025 using the years-of-service method, setting up appropriate schedules.
Answer:
Total number of years remaining for employees = 3 + 4 + 5 + 6 + 6 = 24 years.
Projected benefit of $88,560.
Year Annual Amortization
2020 88,560 * 5/24 $18,450
2021 88,560 * 5/24 $18,450
2022 88,560 * 5/24 $18,450
2023 88,560 * 4/24 $14,760
2024 88,560 * 3/24 $11,070
2025 88,560 * 2/24 $7,380
Total $88,560
Every year the projected benefit is amortized by the number of employees still working divided by the total number of years for all the employees.
Why do you think companies have a sustainable competitive advantage?
Answer:
Sustainable competitive advantage is the key to business success. It is the force that enables a business to have greater focus, more sales, better profit margins, and higher customer and staff retention than competitors.
Explanation:
A great example of a sustainable competitive advantage based on human emotions is Coca-Colabranding. Coca-Cola is successfully positioning its products as happy, meaning that they bring joy, harmony, etc. When you try to serve everyone, you serve no one.
you think the way you talk is important to listener?
Faith Bonds sells furniture and earns nine percent commission on her total sales. Last month she had $33,500 in sales. How much did she earn? *
Answer:
3015
Explanation:
33500*.09=3015
Answer: 2,865
Explanation: To get this answer you would have to divided 33,500 and 9%
In January, Tongo, Inc., a branding consultant, had the following transactions.
a. Received $13,200 cash for consulting services rendered in January.
b. Issued common stock to investors for $8,000 cash.
c. Purchased $11,200 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years.
d. Received $11,800 cash for consulting services to be performed in February.
e. Bought $1,750 of supplies on account.
f. Received utility bill for January for $2,060, due February 15.
g. Consulted for customers in January for fees totaling $19,900, due in February.
h. Received $13,300 cash for consulting services rendered in December.
i. Paid $875 toward supplies purchased in (e).
Account Title Debit Credit
Cash $14,200
Accounts Receivable 17,200
Supplies 1,260
Equipment 4,800
Accounts Payable $6,100
Unearned Revenue 3,250
Note Payable 0
Common Stock 10,000
Retained Earnings 18,110
Service Revenue 0
Utilities Expense 0
Required:
Prepare an unadjusted trial balance for Tongo, Inc. for the month ended January 31.
Answer:
first I will journalize the transactions:
a. Received $13,200 cash for consulting services rendered in January.
Dr Cash 13,200
Cr Service revenue 13,200
b. Issued common stock to investors for $8,000 cash.
Dr Cash 8,000
Cr Common stock 8,000
c. Purchased $11,200 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years.
Dr Equipment 11,200
Cr Cash 2,800
Cr Notes payable 8,400
d. Received $11,800 cash for consulting services to be performed in February.
Dr Cash 11,800
Cr Unearned revenue 11,800
e. Bought $1,750 of supplies on account.
Dr Supplies 1,750
Cr Accounts payable 1,750
f. Received utility bill for January for $2,060, due February 15.
Dr Utilities expense 2,060
Cr Accounts payable 2,060
g. Consulted for customers in January for fees totaling $19,900, due in February.
Dr Accounts receivable 19,900
Cr Service revenue 19,900
h. Received $13,300 cash for consulting services rendered in December.
Dr Cash 13,300
Cr Accounts receivable 13,300
i. Paid $875 toward supplies purchased in (e).
Dr Accounts payable 875
Cr Cash 875
Tongo, Inc.
Unadjusted trial balance sheet
For the month ended January 31, 202x
Debit Credit
Cash $56,825
Accounts Receivable $23,800
Supplies $3,010
Equipment $16,000
Accounts Payable $9,035
Unearned Revenue $15,050
Note Payable $8,400
Common Stock $18,000
Retained Earnings $18,110
Service Revenue $33,100
Utilities Expense $2,060
Totals $101,695 $101,695
Bonita is a licensed dentist. During the first month of the operation of her business, the following events and transactions occurred.
April 1 Invested $18,000 cash in her business.
1 Hired a secretary-receptionist at a salary of $500 per week payable monthly.
2 Paid office rent for the month $1,100.
3 Purchased dental supplies on account from Dazzle Company $4,200.
10 Performed dental services and billed insurance companies $4,700.
11 Received $1,400 cash advance from Leah Mataruka for an implant.
20 Received $2,100 cash for services performed from Michael Santos.
30 Paid secretary-receptionist for the month $2,000.
30 Paid $2,720 to Dazzle for accounts payable due.
(a)
Partially correct answer icon
Your answer is partially correct.
Journalize the transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Date
Account Titles and Explanation
Debit
Credit
choose a transaction date
enter an account title to record the owner’s investment of cash in business
Owner's investment of cash in business
enter a debit amount
$18,000
enter a credit amount
enter an account title to record the owner’s investment of cash in business
enter a debit amount
enter a credit amount
(Owner’s investment of cash in business)
choose a transaction date
enter an account title to record a recruitment of secretary-receptionist
enter a debit amount
enter a credit amount
enter an account title to record a recruitment of secretary-receptionist
enter a debit amount
enter a credit amount
(Hired a secretary-receptionist)
choose a transaction date
enter an account title to record the payment of monthly office rent
enter a debit amount
enter a credit amount
enter an account title to record the payment of monthly office rent
enter a debit amount
enter a credit amount
(Paid monthly office rent)
choose a transaction date
enter an account title to record the purchase of supplies on account from Dazzle Company
enter a debit amount
enter a credit amount
enter an account title to record the purchase of supplies on account from Dazzle Company
enter a debit amount
enter a credit amount
(Purchased supplies on account from Dazzle Company)
choose a transaction date
enter an account title to record billing the clients for services performed
enter a debit amount
enter a credit amount
enter an account title to record billing the clients for services performed
enter a debit amount
enter a credit amount
(Billed clients for services performed)
choose a transaction date
enter an account title to record the receipt of the cash for future service
enter a debit amount
enter a credit amount
enter an account title to record the receipt of the cash for future service
enter a debit amount
enter a credit amount
(Received cash for future service)
choose a transaction date
enter an account title to record the receipt of the cash for services performed
enter a debit amount
enter a credit amount
enter an account title to record the receipt of the cash for services performed
enter a debit amount
enter a credit amount
(Received cash for services performed)
choose a transaction date
enter an account title to record the payment of monthly salary
enter a debit amount
enter a credit amount
enter an account title to record the payment of monthly salary
enter a debit amount
enter a credit amount
(Paid monthly salary)
choose a transaction date
enter an account title to record the payment to Dazzle Company on account
enter a debit amount
$2,720
enter a credit amount
enter an account title to record the payment to Dazzle Company on account
enter a debit amount
enter a credit amount
(Paid Dazzle Company on account)
Answer:
Is this a ligit question even???
Who is the primary regulator over the
mortgage banking industry?
The primary regulator over the mortgage banking industry in the United States is the Office of the Comptroller of the Currency (OCC).
What does the Office of the Comptroller of the Currency (OCC) do?It was established by the U.S. government to oversee all national banks in the United States.
This means that it is the regulatory agency for any type of banking on the national level including mortgage banks.
Find out more on the Office of the Comptroller of the Currency (OCC) at https://brainly.com/question/1075384.
At the end of its first month of operations, a company reported Revenue of $37,000. It also reported Wages Expense, $6,000; Rent Expense, $5,000; and Utilities Expense, $1,000. Calculate net income reported on the income statement at month-end.
Answer:
25,000
Explanation:
The net income reported on the income statement at the end of the month is $25,000.
At the end of its first month of operations, the company reported a Revenue of $37,000. Alongside this, it disclosed various expenses, including Wages Expense of $6,000, Rent Expense of $5,000, and Utilities Expense of $1,000. To calculate the net income reported on the income statement at the month-end, we need to subtract the total expenses from the revenue.
Total Expenses = Wages Expense + Rent Expense + Utilities Expense
Total Expenses = $6,000 + $5,000 + $1,000
Total Expenses = $12,000
Net Income = Revenue - Total Expenses
Net Income = $37,000 - $12,000
Net Income = $25,000
Therefore, the net income reported on the income statement at the end of the month is $25,000.
Learn more about net income here: brainly.com/question/32614743
#SPJ3
Eduardo obtained credit to buy a car. He has failed to make any payments over the past
few months. What is MOST likely to happen?
A. He will make one giant payment to cover the past months without penalty,
B.The lender will take possession of his car.
C. The amount of debt owed will decrease the longer he waits to make a payment.
D.Nothing-people are allowed to miss several payments without consequences.
The lender will most likely take possession of his car when Eduardo failed to make any payments over the past few months on the car credit.
What is a car credit?A car credit is an arrangement of installment payment on a car with an agreement to pay certain amount at regular interval.
Hence, the lender will most likely take possession of his car when Eduardo failed to make any payments over the past few months on the car credit.
Therefore, the Option B is correct.
Read more about car credit
brainly.com/question/24460932
4. Consider the following accounts of the Second National Bank. Assets $mn Liabilities $mn ---------------------------------------------------------------------------------------------------------------- Rate-sensitive assets 50 Rate-sensitive Deposits 30 (Duration 5 years) (Duration 3 years) Fixed Rate Assets 100 Fixed rate Deposits 90 (Duration 5 years) (Duration 3 years) Share Capital 30 ---------------------------------------------------------------------------------------------------------------- a. If the interest rate rises by 5%, what is the impact on the Bank
Answer:
Follows are the solution to this question:
Explanation:
Sensitive rate of assets RA = $50 mn
liabilities or deposits sensitive rate RL = $30 mn
Formula for difference:
[tex]\bold{GAP=RA - RL}[/tex]
[tex]= \$ \ 50 - \$ \ 30 \\\\ = \$ \ 20 \ mn[/tex]
It helps Difference analysis to detect changes throughout the revenue or net earnings of a banks interest rate due to change
The net interest rate of change = GAP [tex]\times[/tex] interest rate of change
As the rate rises, its interest rate changes = +5%
[tex]\text{Net interest rate change} = \$ 20 \ mn \times 5 \%[/tex]
[tex]= \$ 20 \ mn \times \frac{5}{100}\\\\= \frac{5}{5}\\\\= \$ 1 \ millon[/tex]
Due to the 5 percent change in interest rates, GAP research shows that bank net interest revenue rises by $1 millon.
Over the years, the Securities and Exchange Commission (SEC) has delegated its statutory authority to establish accounting principles for publicly traded companies in the United States. This delegated authority impacts which organization(s)
The delegated authority of the Securities and Exchange Commission (SEC) on establishing accounting principles for publicly traded companies in the United States impacts all publicly held companies.
What is the role of the SEC?The Securities and Exchange Commission (SEC) is a well-recognized U.S. government oversight agency.
It is responsible for regulating the securities markets and protecting investors' investments.
It does this, by:
Maintaining fair, orderly, and efficient marketsEnsuring compliance with financial regulationsEnsuring transparency in financial reportingFacilitating capital formation.Thus, the delegated authority of the Securities and Exchange Commission (SEC) on establishing accounting principles for publicly traded companies in the United States impacts all publicly held companies.
Learn more about the Securities and Exchange Commission at https://brainly.com/question/3798508
On June 1, 2018, Andre Company and Agassi Company merged to form Lancaster Inc. A total of 800,000 shares were issued to complete the merger. The new corporation reports on a calendar-year basis. On April 1, 2020, the company issued an additional 400,000 shares of stock for cash. All 1,200,000 shares were outstanding on December 31, 2020. Lancaster Inc. also issued $600,000 of 20-year, 8% convertible bonds at par on July 1, 2020. Each $1,000 bond converts to 40 shares of common at any interest date. None of the bonds have been converted to date. Lancaster Inc. is preparing its annual report for the fiscal year ending December 31, 2020. The annual report will show earnings per share figures based upon a reported after-tax net income of $1,540,000. (The tax rate is 20%.) Determine the following for 2020. (a) The number of shares to be used for calculating
The number of shares to be used for calculating the basic earnings per shares will be 1100000.
How to calculate shares?Based on the information given, the calculation for the shares will be depicted below:
The basic earnings per share will be:
= (800000 × 3/12) + (1200000 × 9/12)
= 200000 + 900000
= 1100000
Learn more about shares on:
https://brainly.com/question/25818989
SecuriCorp operates a fleet of armored cars that make scheduled pickups and deliveries in the Los Angeles area. The company is implementing an activity-based costing system that has four activity cost pools: Travel, Pickup and Delivery, Customer Service, and Other. The activity measures are miles for the Travel cost pool, number of pickups and deliveries for the Pickup and Delivery cost pool, and number of customers for the Customer Service cost pool. The Other cost pool has no activity measure because it is an organization-sustaining activity. The following costs will be assigned using the activity-based costing system:
Driver and guard wages $960,000
Vehicle operating expense 390,000
Vehicle depreciation 270,000
Customer representative salaries and expenses 300,000
Office expenses 160,000
Administrative expenses 460,000
Total cost $2,540,000
The distribution of resource consumption across the activity cost pools is as follows:
Travel Pickup and Delivery Customer Service Other Totals
50% 35% 10% 5% 100%
70% 5% 0% 25% 100%
60% 15% 0% 25% 100%
0% 0% 90% 10% 100%
0% 20% 30% 50% 100%
0% 5% 60% 35% 100%
Required:
Complete the first stage allocations of costs to activity cost pools.
Answer:
attached below is the table showing the first stage of allocations of cost to activity
Explanation:
The first stage of allocations of cost to activity cost pools
is calculated by :
( percentage cost of distribution ) * ( cost assigned )
1) Driver and Guards wages
Travel = 960000 * 50% = $480000
pickup and delivery = 960000 * 35% = $336000
customer service = 960000 * 10% = $96000
other = 960000 * 5% = $48000
Total = $960000
2) Vehicle operating expense
Travel = 390000 * 70% = 273000
pickup and delivery = 390000 * 5% = 19500
customer service = 390000 * 0% = 0
other = 390000 * 25% = 97500
Total = $390000
3) vehicle depreciation
Travel = 270000 * 60% = 162000
Pickup and delivery = 270000 * 15% = 40500
customer service = 270000 * 0% = 0
other = 270000 * 25% = 67500
Total = $270000
4) customer rep salaries and expenses
Travel = 300000 * 0 % = 0
pickup and delivery = 300000 * 0% = 0
customer service = 300000 * 90% = 270000
other = 300000 * 10% = 30000
Total = $300000
5) office expenses
travel = 160000 * 0% = 0
pickup and delivery = 160000 * 20% = 32000
customer service = 160000 * 30% = 48000
other = 160000 * 50% = $80000
Total = $160000
6) Administrative expenses
Travel = 460000 * 0% = 0
pickup and delivery = 460000 * 5% = 23000
customer service = 460000 * 60% = 276000
other = 460000 * 35% = 161000
total = $460000
If a family spends its entire budget in a given time frame, the family can afford either 10 restaurant meals or 30 home meals. Assuming the family spends its entire budget on just these two goods, what is the opportunity cost of one extra restaurant meal in the time frame? (Round your answer to two decimal places.)
The opportunity cost of one extra restaurant meal in the time frame is 3 home meals.
What is opportunity cost?Opportunity cost of the next best option forgone when one alternative is chosen over other alternatives. When the family chooses to go for the restaurant meal, they forgo the opportunity for a home meal.
Opportunity cost = 30 / 10 = 3
To learn more about opportunity cost, please check: https://brainly.com/question/26315727
Marleen is a 52-year-old participant in the XYZ cash balance plan. She has been a participant in the plan for the last twenty years. XYZ, which has over 10,000 employees, is having financial difficulty and Marleen is concerned about the security of her pension. Which of the following is correct? a. The cash balance plan formula cannot be lowered in the future for current participants, but could be changed for new participants. b. The cash balance plan assets may include up to 25% of XYZ stock. c. The cash balance plan and its benefits are fully protected by the PBGC. d. Termination of the plan may affect vesting for some employees, but Marleen's vesting will not be impacted.
Answer:
d)Termination accelerates vesting, but based on Marleen's tenure, she is fully vested already.
Explanation:
We are informed about Marleen a 52-year-old participant in the XYZ cash balance plan. we are told that She has been a participant in the plan for the last twenty years. XYZ, which has over 10,000 employees, is having financial difficulty and Marleen is concerned about the security of her pension.
In this case let us consider the given options one after the other.
OPTION A, The cash balance plan formula cannot be lowered in the future for current participants, but could be changed for new participants.
✓This wrong, here plan sponsor can decide to do some adjustments in benefits in time future.
OPTION B)The cash balance plan assets may include up to 25% of XYZ stock.
✓This is wrong, here plan sponsor's stock can have cash balance plan assets up to 10% put into it.
OPTION C)The cash balance plan and its benefits are fully protected by the PBGC.
✓This is wrong, the PBGC only protect the benefits just for annual limit and not totally.
Hence "OPTION D" which is Termination accelerates vesting, but based on Marleen's tenure, she is fully vested already is correct.
There is a new country called Tiderce where the people's political opinions lead them to divide themselves into five different groups, representing different outlooks on how the legislature should approach public policy. These five groups based on political convictions in turn result in the formation of five political parties (each named after an animal mascot). The five parties are listed below in order from most liberal to most conservative. In the first election for the legislature in this country the people vote for their candidates and/or their parties as follows, with the vote in the whole country being the same as the vote in every part of it:_______.
Lion 20%
Tiger 24%
Bear 13%
Antelope 18%
Gazelle 25%
Which could result in the Gazelle Party’s having exactly 75% of the seats in the legislature?
Proportional representation
single member districts and majority winners
single member districts and plurality winners
Answer:
"Lion and Tiger" is the right choice.
Explanation:
Two sides are joining together in an alliance. Around each other, Lion as well as Tiger have 20 + 24 = 44% elections. Therefore no political party forms the above large percentage throughout the sequential manner. Only within chronology will parties join hands, as they are listed in order from some of the more progressive to many of the conservative, and therefore only platforms based on the common ideologies can show solidarity.Lion and Gazelle, for instance, will not join an alliance because their philosophies remain contrary.
Discuss why South Africa as a country has a scarcity of skilled workers, and how this can be changed more especially in terms of education.Motivate your answer by providing examples to show understanding.
South Africa, as a country still experiences a scarcity of skilled workers. This should not be, given the country's population size.
What is the scarcity of skilled workers?The scarcity of skilled workers means that South African companies cannot attract the manpower they need to power the South African industry and economy.
However, this scarcity can become a thing of the past if many more South African companies can start investing in the education sector by giving out scholarships, grants, and endowing academic chairs in the universities.
This was how the economy of the United States was enabled to flourish until today. South African companies can emulate their footsteps.
Thus, South Africa, given its enormous population, has no business experiencing a scarcity of skilled workers.
Learn more about the scarcity of skilled workers at https://brainly.com/question/1787954
Sunspot Beverages, Ltd., of Fiji uses the FIFO method in its process costing system. It makes blended tropical fruit drinks in two stages. Fruit juices are extracted from fresh fruits and then blended in the Blending Department. The blended juices are then bottled and packed for shipping in the Bottling Department. The following information pertains to the operations of the Blending Department for June. Percent Completed Units Materials Conversion Work in process, beginning 20,000 100 % 75 % Started into production 180,000 Completed and transferred out 160,000 Work in process, ending 40,000 100 % 25 % Materials Conversion Work in process, beginning $ 25,200 $ 24,800 Cost added during June $ 334,800 $ 238,700 Required: 1. Compute the Blending Department's equivalent units of production for materials and conversion for June. 2. Compute the Blending Department's cost per equivalent unit for materials and conversion for June. 3. Calculate the Blending Department's cost of ending work in process inventory for materials, conversion, and in total for June. 4. Calculate the Blending Department's cost of units transferred out to the next department for materials, conversion, and in total for June. 5. Prepare a cost reconciliation report for the Blending Department for June.
Answer:
Explanation:
beginning WIP 20,000
materials 100% completed
conversion 75% completed (25% added in current period 5,000 EU)
started into production 180,000 units
completed and transferred out 160,000 units
units started and transferred out = 180,000 - 20,000 - 40,000 = 120,000 units
ending WIP 40,000 units
materials 100% completed
conversion 25% completed (10,000 EU)
beginning costs:
materials $25,200
conversion $24,800
added during the period:
materials $334,800
conversion $238,700
1. Compute the Blending Department's equivalent units of production for materials and conversion for June.
EUP for materials = 180,000 units
EUP for conversion = 5,000 + 120,000 + 10,000 = 135,000
2. Compute the Blending Department's cost per equivalent unit for materials and conversion for June.
cost per EUP for materials = $334,800 / 180,000 = $1.86
cost per EUP for conversion = $238,700 / 135,000 = $1.768148
3. Calculate the Blending Department's cost of ending work in process inventory for materials, conversion, and in total for June.
materials = 40,000 x $1.86 = $74,400
conversion = 10,000 x $1.768148 = $17,681.50
total = $92,081.50
4. Calculate the Blending Department's cost of units transferred out to the next department for materials, conversion, and in total for June.
materials = (140,000 x $1.86) + $25,200 = $285,600
conversion = (125,000 x $1.7681) + $24,800 = $245,818.50
total = $531,418.50
5. Prepare a cost reconciliation report for the Blending Department for June.
Beginning WIP:
Cost already incurred $50,000
Material cost 0 Conversion Cost = 5,000 x $1.768148 = $8,840.75Total $58,840.75
Started and transferred out
materials 140,000 x $1.86 = $260,400conversion costs 120,000 x $1.768148 = $212,177.75total $472,577.75Total cost of units transferred out $531,418.50
2. The feature of the general version of the arbitrage pricing theory (APT) that offers the greatest potential advantage over the simple CAPM is the: a. Identification of anticipated changes in production, inflation, and term structure of interest rates as key factors explaining the risk-return relationship b. Superior measurement of the risk-free rate of return over historical time periods c. Variability of coefficients of sensitivity to the APT factors for a given asset over time d. Use of several factors instead of a single market index to explain the risk-return relationship
Answer: Use of several factors instead of a single market index to explain the risk-return relationship
Explanation:
Arbitrage pricing theory (APT) is when the return on an asset is forecasted when the linear relationship which exist between the expected return of the asset and the macroeconomic variables are being considered.
Capital Asset Pricing Model (CAPM) helps in showing the relationship that take place between systematic risk and an asset expected return.
The feature of the general version of the arbitrage pricing theory (APT) that offers the greatest potential advantage over the simple CAPM is the use of several factors instead of a single market index to explain the risk-return relationship as it's more robust when compared to the CAPM.
Why is it recommended that you focus more on quadrant 2 (PLAN) to be productive?
a.
Focusing on this quadrant increases planning and helps you meet your goals
b.
Focusing on this quadrant increases stress
c.
Focusing on this quadrant ensures you will never encounter a distraction
d.
Focusing on this quadrant will help you meet other people’s needs
Answer:
The reason that it is recommended to focus more on quadrant 2 (PLAN) to be productive is:
a. Focusing on this quadrant increases planning and helps you meet your goals.
Explanation:
This second quadrant of Stephen Covey's 7 Habits of Highly Effective People focuses on planning. The leader undertakes planning when it is important but not when it is urgent. This means that the leader is enabled to plan in a crisis-free moment and environment. The leader in this quadrant does not act in response to crisis. She is well-prepared for every crisis. It is the most important quadrant that any leader should aspire to be in at all times.
Jordan is 55 and wants to retire in 12 years. His family has a history of living well into their 90s. Therefore, he estimates that he will live to age 97. He currently has a salary of $100,000 and expects that he will need about 82% of that amount annually if he were retired. He can earn 9 percent in his portfolio and expects inflation to continue at 3 percent. Jordan currently has $325,000 invested for his retirement. His Social Security benefit in today's dollars is $30,000 per year at normal age retirement of age 67. How much does he need to save each year at year end to meet his retirement goals? a. $9,252. b. $8,432. c. $6,245. d. $7,659.
Answer:
$9,252.23 ≈ a. $9,252
Explanation:
Jordan will retire at 67 and expects to live 30 more years. Be believes that he will need approximately $82,000 (in current dollars) per year to live while he is retired. his social security benefits are $30,000 (in current dollars) per year, so that means that he needs to cover the remaining $52,000. In order to calculate this, I will assume that Jordan receives his first distribution on his 67th birthday (annuity due) and each distribution is made on an annual basis and received on the subsequent birthdays until he turns 96 (30th distribution).
The $52,000 that Jordan expects to need once he retires must be adjusted to inflation (3%). In 12 years they will equal $52,000 x (1 + 3%)¹² = $74,139.57
Using an excel spreadsheet, I calculated the present value of Jordan's 30 distributions using a 9% discount rate = $1,100,465.22
Jordan currently has $325,000 in his retirement account and in 12 years (age 67), his account will be worth $325,000 x (1 + 9%)¹² = $914,116.05
this means that Jordan will be $1,100,465.22 - $914,116.05 = $186,349.17 short
using the future value of an annuity formula, we can calculate the annual contribution:
annual contribution = future value / annuity factor
future value = $186,349.17 FV annuity factor, 9%, 12 periods = 20.141annual contribution = $186,349.17 / 20.141 = $9,252.23 ≈ $9,252
True or False: Expectations are an important consideration for both demand-pull and cost-push inflation.
Answer:
The correct answer is false
Kane Manufacturing has a division that produces two models of fireplace grates, x units of model A and y units of model B. To produce each model A grate requires 3 lb of cast iron and 6 min of labor. To produce each model B grate requires 4 lb of cast iron and 3 min of labor. The profit for each model A grate is $4.00, and the profit for each model B grate is $4.00. Also, 1000 lb of cast iron and 20 labor-hours are available for the production of fireplace grates per day. Because of a backlog of orders for model A grates, Kane's manager had decided to produce at least 150 of these grates a day. Operating under this additional constraint, how many grates of each model should Kane produce to maximize profit
Therefore, to maximize profit under this additional constraint, the Kane Manufacturing Company should produce:
Model A Model B
Units of products 150 100
What is a constraint in production?A constraint is a factor that hinders production.
A constraint can stop a company from producing the maximum units of each product model.
Constraints can emanate from the availability and quantity of the throughput, operational expense, and inventory.
Data and Calculations:Model A Model B Total Resources
Cast iron required 3 lb 4 lb 1,000 lb
Direct labor 6 min 3 min 20 labor-hours (1,200 min)
Profit per model $4.00 $4.000
Constraint:
Production of 150 of Model A, which consumes 900 minutes
This leaves 300 minutes for Model B.
300 minutes can produce 100 units of Model B (300/3).
Learn more about decision-making under constraints at https://brainly.com/question/27033825
Your uncle has $90,000 that he wishes to invest now in order to use the accumulation for purchasing a retirement annuity in five years. After consulting with his financial adviser, he has been offered four types of fixed income investments, labeled as investments A, B, C, and D. Investments A and B are available at the beginning of each of the next five years (call them years 1 to 5). Each dollar invested in A at the beginning of a year returns $1.20 (a profit of $0.20) two years later, in time for immediate reinvestment. Each dollar invested in B at the beginning of a year returns $1.36 three years later.
Answer:
The question is incomplete, it is missing the last part:
...
Investments C and D will each be available at one time in the future. Each dollar invested in C at the beginning of year 2 returns $1.66 at the end of year 5. Each dollar invested in D at the beginning of year 5 returns $1.12 at the end of year 5.
Your uncle is obligated to make a balloon payment on an existing loan, in the amount of $24,000, at the end of year 3. He wants to cover that payment out of these funds as well.
First of all, you must invest enough money in B in order to pay your debt.
present value = future value / expected return
present value = $24,000 / $1.36 = $17,647.06
you have $90,000 - $17,647.06 = $72,352.94 to invest in A.
at the end of year 2, you will have:
future value = present value x expected return = $72,352.94 x $1.20 = $86,823.53
then you should invest that money ($86,823.53) in invested D and at the end of year 4 you will have:
future value = $86,823.53 x $1.66 = $144,127.06
finally, you should invest $144,127.06 in investment E and at the end of ear 5 you will have:
future value = $144,127.06 x $1.12 = $161,422.31
Concord Company purchases equipment on January 1, Year 1, at a cost of $498,000. The asset is expected to have a service life of 12 years and a salvage value of $44,820.
Required:
a. Compute the amount of depreciation for each of Years 1 through 3 using the straight-line depreciation method.
b. Compute the amount of depreciation for each of Years 1 through 3 using the sum-of-the-years'-digits method.
Answer:
depreciable value = $498,000 - $44,820 = $453,180
a. depreciation expense per year = $453,180 / 12 years = $37,765
depreciation expense year 1 = $37,765
depreciation expense year 2 = $37,765
depreciation expense year 3 = $37,765
b. total digits = 12+11+10+9+8+7+6+5+4+3+2+1 = 78
depreciation expense year 1 = 12/78 x $453,180 = $69,720
depreciation expense year 2 = 11/78 x $453,180 = $63,910
depreciation expense year 3 = 10/78 x $453,180 = $58,100
Which of the following is an example of architecture technology?
A: GPS devices
B: Blueprints
C: Prototypes
Answer:
prototypes
Its a screen that can design tools.
On January 1, 2021, Calloway Company leased a machine to Zone Corporation. The lease qualifies as a sales-type lease. Calloway paid $280,000 for the machine and is leasing it to Zone for $40,000 per year, an amount that will return 11% to Calloway. The present value of the lease payments is $280,000. The lease payments are due each January 1, beginning in 2021. What is the appropriate interest entry on December 31, 2021? Multiple Choice Cash 26,400 Interest receivable 26,400 Cash 30,800 Interest revenue 30,800 Interest receivable 26,400 Interest revenue 26,400 Interest receivable 30,800 Interest revenue 30,800
Answer:
DR Interest receivable 26,400
CR Interest revenue 26,400
Explanation:
As first lease has already been paid, the amount left of the lease is;
= 280,000 - 40,000
=$240,000
Interest is 11% so the interest to be received in December is;
= 11% * 240,000
= $26,400
This will be debited to Interest receivable as it is money owed and credited to Interest revenue as it is money earned.
Marcus is studying networking with an emphasis on cybersecurity at a local university. As part of his research, he wants to visit certain hacker sites but is concerned that his laptop would be vulnerable to passive threats while visiting them. He doesn't have the funds for expensive security equipment.
Required:
What is the least expensive option he has at hand?
The least expensive option that Marcus has is to build a firewall that would help to prevent attacks from the hackers.
What is an internet fire wall?This is also known as a security device. This device would help to safe guard Marcus's computer by filtering the traffic and also blocking any form of public internet.
This option would be the most viable thing for him to do as he continues to carry out this research.
Read more on internet firewall here:
https://brainly.com/question/13693641
I need a congratulations to a department at work for there good work. it's also there 1 yr anniversary at a different sight
need verbiage indicating how proud we are.
Answer:
Happy 1 year anniversary! Relocating can be hard, but you guys made it look effortless. Can you believe that it’s already been a year? This year is abnormal, but you guys came through like always. We are so proud of you guys. We never could have wished for a more hard working team than you guys. Keep up the grind, and you guys will do even better!
Explanation:
I need the answer points but i already wrote something in the comments