Answer:
Community Sports Club
a. Adjusting Journal Entries on March 31, 20x3:
Description Debit Credit
Investment Account $7,000
Unrealized Investment Gains $7,000
Depreciation Expense $12,000
Accumulated Depreciation - Building $4,000
Acc. Depreciation - Furniture & Equipment 8,000
House Expenses $9,000
Snack bar & soda fountain 2,000
General and administrative 1,000
Depreciation Expenses $12,000
Cost of Inventory sold $4,000
Inventory $4,000
b. Financial Statement of Activities for the year ended March 31, 20x3:
Cumulative excess of revenue over expenses $12,000
Cost of Inventory Sold (4,000)
Depreciation Expenses:
House Expenses (9,000)
Snack bar & soda fountain (2,000)
General and administrative (1,000)
Cumulative excess of revenue over expenses ($4,000)
Explanation:
Data and Calculations:
1. Community Sports Club
Unadjusted Trial balance for April 1, 20X2:
Debit Credit
Cash $9,000
Investment 58,000
Inventories 5,000
Land 10,000
Building 164,000
Accumulated depreciation---building $130,000
Furniture and equipment 54,000
Accumulated depreciation furniture & equipment 46,000
Accounts payable 12,000
Participation certificates 100,000
Cumulative excess of revenue over expenses 12,000
Total $300,000 $300,000
2. Adjusted Trial Balance for March 31, 20x3:
Debit Credit
Cash $9,000
Investment 65,000
Inventories 1,000
Land 10,000
Building 164,000
Accumulated depreciation---building $134,000
Furniture and equipment 54,000
Accumulated depreciation furniture & equipment 54,000
Accounts payable 12,000
Participation certificates 100,000
Unrealized Investment Gain 7,000
Depreciation Expenses:
House 9,000
Snack bar & Soda Fountain 2,000
General and Administrative 1,000
Cost of Inventory Sold 4,000
Cumulative excess of revenue over expenses 12,000
Total $319,000 $319,000
3. The Club's Statement of Activities is like the income statement of a business entity. This statement reports the revenues and expenses of the club and the changes in the net assets of the company, like depreciation expenses and cost of inventory. Like the income statement it reports the excess of revenue over expenses or vice versa. The resulting figure (difference) is not called the net income or loss, but excess of revenue over expenses.
What are the arithmetic and geometric average time-weighted rates of return for the investor?(Round your year-by-year rates of return and final answer to 2 decimal places. Do not round other calculations.)
1. Managed care has caused the U.S. health care system to:
A. Advance its high-tech capabilities
B. Continuously monitor the efficiency and effectiveness of the care delivered
C. Address the problems of uninsured populations
D. Consider the portability of health insurance
Outdoor Lighting Supply expects the following for 2018: Net cash provided by operating activities of Net cash provided by financing activities of Net cash provided by investing activities of Cash dividends paid to stockholders of Outdoor expects to spend to modernize its showroom. How much free cash flow does Outdoor expect for 2018?
Answer:
The correct option is A. $134,000.
Explanation:
Note: This question is not complete as all the data are omitted. The complete question is therefore provided before answering the question as follows:
Outdoor Lighting Supply expects the following for 2018:
Net cash provided by operating activities of $284,000
Net cash provided by financing activities of $67,000
Net cash provided by investing activities of $76,000
Cash dividends paid to stockholders of $29,000
Outdoor expects to spend $150,000 to modernize its showroom.
How much free cash flow does Outdoor expect for 2018?
Select one:
A. $134,000
B. $112,000
C. $264,000
D. $105,000
The explanation to the answer is now provided as follows:
Free cash flow (FCF) refers to the cash that is generated by a company through its operations minus capital expenditure such as cost of acquiring new assets as well as maintenance Capital expenditure and capital work in progress.
Therefore, free cash flow can be calculated using the following formula:
FCF = NCO - Capital expenditure ..................................... (1)
Where, for Outdoor Lighting Supply;
FCF = Free cash flow = ?
NCO = Net cash provided by operating activities = $284,000
Capital expenditure = Amount expected to spend to modernize showroom = $150,000
Substituting the values into equation (1), we have:
FCF = $284,000 - $150,000
FCF = 134,000
The amount of free cash flow Outdoor expects for 2018 is $134,000. Therefore, the correct option is A. $134,000.
The PW of five independent projects have been calculated at an MARR of 12% per year. Select the best combination at a capital investment limit of (a) $25,000, (b) $49,000, and (c) unlimited.
Initial Life,
Project Investment, Years PW,
S -15,000 6 8,540
A - 26,000 8 12,100
M -10,000 6 3,000
E 25,000 4 10
H -40,000 12 15350
Answer:
Project Investment Years PW,
S -15,000 6 8,540
A - 26,000 8 12,100
M -10,000 6 3,000
E 25,000 4 10
H -40,000 12 15350
I assume that the present worth of the projects is their net present value (NPV), so all the projects have a positive NPV. I believe that there is a mistake on project E since the initial outlay is generally negative, no one will pay you to start a project, although it is also the project with the lowest NPV.
a) If I had $25,000, I would invest in projects S and M which will increase my present wealth by $3,000 + $8,540 = $11,540. If something really strange happened and you would actually receive money for starting a project (project E), I would also take it even if its NPV is only $10, since I'm not spending money, instead I'm receiving money.
b) If I had $49,000, I would invest in projects S and A which will increase my present wealth by $8,540 + $12,100 = $20,640. Again, if something really strange happened and you would actually receive money for starting a project (project E), I would also take it.
c) If I had unlimited resources, I would invest in all the projects since they all have positive NPVs.
A project is expected to generate annual revenues of $119,300, with variable costs of $75,400, and fixed costs of $15,900. The annual depreciation is $3,950 and the tax rate is 34 percent. What is the annual operating cash flow?
Hint: Revenue - FC - VC - Depr. = EBIT. Taxes = EBIT x tax rate. OCF = EBIT + Depreciation - Taxes (same as chapter 2).
a. $61,143
b. $28,000
c. $19,823
d. $31,950
e. $45,243
Answer:
c. $19,823
Explanation:
For the computation of annual operating cash flow first we need to find out the EBIT and Tax which is shown below:-
EBIT = Revenue - Variable cost - Fixed cost - Depreciation
= $119,300 - $75,400 - $15,900 - $3,950
= $24,050
Tax = EBIT × Tax rate
= $24,050 × 34%
= $8,177
Operating cash flow = EBIT + Depreciation - Taxes
= $24,050 + $3,950 - $8,177
= $19,823
Hence, the correct option is c.
What industries are presented in your community. How would you define the economic health of your community based on the industries presents?
Answer:
The healthcare industry can be explained as the medical industry or healthcare industry. It represent to the health economy.
Explanation:
The industries that are represented in the community are the combination of integration aggregation sectors. These sectors provide the economic system to the society or community. For finance, the healthcare industries ae very important. These care the building blocks of economy of a country. The healthcare industry consists of Hospitals, mental and dental practice activities, midwives, nurses, psychologist, psychiatrist. These industries as grow as the people get employment. Healthcare industry is the big tycoon profession that help government in their economic growth. Many employment will occur due to these industries.
Carlson Bottling Corporation is considering the purchase of a new bottling machine. The machine would cost $300,000 and has an estimated useful life of 8 years with zero salvage value. Management estimates that the new bottling machine will provide net annual cash flows of $52,500. Management also believes that the new bottling machine will save the company money because it is expected to be more reliable than other machines, and thus will reduce downtime. (a) What is the net present value of the project? Assume a discount rate of 9%. (b) How much would the reduction in downtime have to be worth in order for the project to be acceptable?
Answer:
a) initial outlay = -$300,000
net cash flows years 1 - 8 = $52,500
discount rate = 9%
using a financial calculator, NPV = -$9,422, this means that the project should be rejected
b) In order for the project to be accepted, its NPV ≥ 0, therefore, the reduction in downtime should be worth at least $9,422 (at present day dollars).
If we analyze it on a yearly basis, the reduction in downtime should be worth $9,422 / 5.5348 (PV annuity, 9%, 8 periods) = $1,702.32
On January 1, 2016, Legion Company sold $200,000 of 10% ten-year bonds. Interest is payable semiannually on June 30 and December 31. The bonds were sold for $177,000, priced to yield 12%. Legion records interest at the effective rate. Legion should report bond interest expense for the six months ended June 30, 2016, in the amount of:_________.A. $8,850B. $10,000C. $10,620D. $12,000
Answer:
C. $10,620
Explanation:
January 1, 2016
Dr Cash 177,000
Dr Discount on bonds payable 23,000
Cr Bonds payable 200,000
discount amortization = ($177,000 x 6%) - $10,000 = $10,620 - $10,000 = $620
June 30, 2016, first coupon payment
Dr Interest expense 10,620
Cr Cash 10,000
Cr Discount on bonds payable 620
The owner of a variable annuity has all of the following rights EXCEPT the right to vote:_________
a. for the Board of Trustees
b. for dissolution of the trust
c. to change the separate account's investment objective
d. for the sales charge imposed by the trust
Answer:
for the sales charge imposed by the trust
Explanation:
A variable annuity has a part of it to be investment and another part as insurance. The gains from it are tax deferred till the money is withdrawn.
The owner of such has the right to vote for options a, b,c that is the Board of Trustees, for trust dissolution, to change in investment objectives. But they cannot vote for for the sales charge imposed by the trust.
Lego Company has used the FIFO method since it began operations in 2023. Lego changed to the weighted average method in 2026. The change was justified. In its 2026 financial statements, Lego included comparative statements for 2025 and 2024. The following are the year-end inventory balances under the FIFO and weighted average methods.
Year FIFO Weighted Average
2023 $108,000 $90,000
2024 $134,000 $122,000
2025 $166,000 $140,000
What adjustment should be made to Cost of Goods Sold retrospectively for the year ended December 31, 2025?
a. $22,000 decrease
b. $8,000 decrease
c. $14,000 increase
d. $18,000 increase
e. $24,000 increase
Answer:
c. $14,000 increase
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True or False: Price equals marginal cost is a sufficient condition for profit maximization.
Answer:
False
Explanation:
The profit maximizing rule is the rule in which the Marginal cost is equivalent to the Marginal revenue
i.e.
Marginal revenue = Marginal cost
MR = MC
In the case of perfect competition,
P = MC
Price = Marginal cost
For the firms that are price maker, in this the demand is downward and the marginal revenue is below to the demand curve
So
in this,
The price > MR = MC
Therefore this is not a sufficient condition
Hence, the given statement is false
The following are the 20X2 transactions of the Midwest Heart Association, which has the following funds and fund balances on January 1, 20X2: Unrestricted net assets $ 281,000 Temporarily restricted net assets 87,000 Permanently restricted (endowment) net assets 219,000
1. Had Unrestricted pledges totaling $700,000, of which $150,000 is for 20X3 and uncollectible pledges estimated at 8 percent.
2. Had restricted use grants totaling $150,000.
3. Collected a total of $520,000 of current pledges and wrote off $30,000 of remaining uncollected current pledges.
4. Purchased office equipment for $15,000.
5. Used unrestricted funds to pay the $3,000 mortgage payment due on the buildings.
6. Received interest and dividends of $27,200 on unrestricted investments and $5,400 on temporarily restricted investments. An endowment investment with a recorded value of $5,000 was sold for $6,000, resulting in a realized transaction gain of $1,000. A donor-imposed restriction specified that gains on sales of endowment investments must be maintained in the permanently restricted endowment fund.
7. Recorded and allocated depreciation as follows:
Community services $ 12,000 Public health education 7,000 Research 10,000 Fund-raising 15,000 General and administrative 9,000 8. Had other operating costs of the unrestricted current fund: Community services $ 250,600 Public health education 100,000 Research 81,000 Fund-raising 39,000 General and administrative 61,000 9. Received clerical services totaling $2,400 donated during the fund drive. These are not part of the expenses reported in item 8. It has been determined that these donated services should be recorded.
Required: a. Prepare journal entries for the transactions in 20X2 b. Prepare a statement of activities for 20X2.
Answer:
Midwest Heart Association
1. Journal Entries:
1. Debit Pledges Receivable $700,000
Credit Pledges Revenue $700,000
To record unrestricted pledges received.
1. Debit Uncollectible Expense $56,000
Credit Allowance for Uncollectibles $56,000
To record 8% of uncollectible pledges.
2. Debit Temporarily restricted net assets $150,000
Credit Pledges Receivable $150,000
To record receipt of restricted use grants.
3. Debit Unrestricted net assets $520,000
Credit Pledges Receivable $520,000
To record current pledges collected
3. Debit Allowance for Uncollectible $26,000
Credit Uncollectible Expense $26,000
To record the write-off of $30,000 remaining uncollected pledges.
4. Debit Office Equipment $15,000
Credit Unrestricted net assets $15,000
To record the purchase of office equipment
5. Debit Building Mortgage $3,000
Credit Unrestricted net assets $3,000
To record the payment of mortgage on buildings.
6. Debit Unrestricted net assets $27,200
Debit Temporarily restricted net assets $5,400
Credit Interest and dividends Revenue $32,600
To record the receipt of interest and dividends.
6. Debit Permanently restricted net assets $1,000
Debit Unrestricted net assets $5,000
Credit Sale of Endowment Investment $6,000
To record the sale and gain of endowment investments.
7. Debit Depreciation Expense:
Community services $ 12,000
Public health education $7,000
Research $10,000
Fundraising $15,000
General and administrative $9,000
Credit Accumulated Depreciation $53,000
To record depreciation expense for the year.
8. Debit Other expenses:
Community services $ 250,600
Public health education $100,000
Research $81,000
Fundraising $39,000
General and administrative $61,000
Credit Unrestricted net assets $531,600
To record other expenses.
Debit Clerical services expense $2,400
Credit Donated clerical services $2,400
To record the receipt of donated clerical services.
b. Statement of Activities for the year ended December 31, 20X2:
Revenue:
Pledges $700,000
Interest and dividends 32,600
Sale of Endowments 6,000 $738,600
Depreciation expense:
Community services $ 12,000
Public health education $7,000
Research $10,000
Fundraising $15,000
General & administrative $9,000 53,000
Other expenses:
Community services $ 250,600
Public health education $100,000
Research $81,000
Fundraising $39,000
General and administrative $61,000 531,600
Clerical services expense $2,400
Change in net assets $151,600
Explanation:
a) Data and Calculations
1. Unrestricted net assets
Beginning balance $ 281,000
Pledges receivable 520,000
Office equipment (15,000)
Building mortgage (3,000)
Interest and Dividends 27,200
Sale of Endowment 5,000
Other expenses (531,600)
Ending balance $278,600
2. Temporarily restricted net assets
Beginning balance $ 87,000
Restricted use grants $150,000
Interest and Dividends 5,400
Ending balance $242,400
3. Permanently restricted (endowment) net assets
Beginning balance $ 219,000
Gain from Endowment 1,000
Ending balance $220,000
b) Midwest Heart Association's Statement of Activities is the financial statement that shows the revenues and expenses of the association, including the change in net assets during a period. It is like the income statement of a profit-making entity that shows revenue and expenses. While the excess in revenue over expenses is called net income for a profit-making entity, it is called change in net assets for a non-profit-making organization like Midwest Heart Association.
In 2019, Crane Company sold 2000 units at $600 each. Variable expenses were $420 per unit, and fixed expenses were $240000. What was Crane’s 2019 net income?
Answer:
Crane's 2019 Net income is $120,000
Explanation:
Given the above information, we can get Crane's net income as shown below.
Sales $1,200,000
(2,000 units × $600)
Less: Variable expenses ($840,000)
(2,000 units × $420)
Contribution margin $360,000
Less: Fixed expenses ($240,000)
Net income. $120,000
Bond prices are _______ sensitive to changes in yield when the bond is selling at a _______ initial yield to maturity.
Answer: more; lower
Explanation:
The yield to maturity is the annual rate of return for a bond which has been estimated as long as the bind is being held by the investor till it matures.
It should be noted that Bond prices are more sensitive to changes in yield when the bond is selling at a lower initial yield to maturity.
A bond with par value of $1,000 has an annual coupon rate of 4.8% and currently sells for $970. What is the bond’s current yield?
Question:
A bond with par value of $1,000 has an annual coupon rate of 4.8% and currently sells for $970. What is the bond’s current yield?
Assuming a maturity period of 10 years (Note the tutor added this)
Answer:
Yield to Maturity =5.18%
Explanation:
The Yield to maturity is the discount rate that equates then price of the bonds to the present of cash inflows expected from the bond
The yield on the bond can be determined as follows using the formula below:
YTM = C + F-P/n) ÷ 1/2 (F+P)
YTM-Yield to maturity-
C- annual coupon
F- Face Value
P- Current Price
n- years to maturity
YTM-?, C- 4.8%× 1000 =60, Face Value - 1,000, P-970, n- 10
YTM = (48 + (1000-970)/10) ÷ ( 1/2× (1000 + 970) )
YTM = 0.0518 × 100 = 5.18%
Yield to Maturity =5.18%
If the liabilities of a business increased $105,000 during a period of time and the Stockholders' Equity in the business decreased $45,000 during the same period, the assets of the business must have
Answer:
Assets increased by $60,000
Explanation:
Accounting information : Stockholders' Equity = Assets - Liabilities
Assets = Stockholders' Equity + Liabilities
$105,000 - $45,000 = $60,000
Assets increased by $60,000
Select the correct answers from the drop-down menus,
The workplace is busy with many conflicting priorities. When communicating with a coworker face-to-face,
it is important to
When communicating with supervisors, it is recommended to
A good rule for communicating with anyone in the workplace is to
When communicating in writing, it is important to be focused, brief, and
POINT
Answer:
Communication Skills
The workplace is busy with many conflicting priorities. When communicating with a coworker face-to-face, be clear and get to the point.
it is important to maintain eye contact.
When communicating with supervisors, it is recommended to be more formal.
A good rule for communicating with anyone in the workplace is to treat others as you want to be treated by them.
When communicating in writing, it is important to be focused, brief, and factually accurate or correct.
Explanation:
Martin Kissey, a busy executive, does not have time for beating about the bush. Therefore, it is important to communicate without wasting his time. Time is very precious for him. And courtesy demands that you do not waste this precious resource.
Oditexo likes to maintain eye to eye contact with the person she is conversing with because she has learned that it delivers a message about being honest. It shows that she is not hiding a skeleton in her cupboard. When you are dishonest, it is very difficult to maintain eye contact. It shows on your face.
Jane's supervisors may be friendly with her. But, Jane should not take it too seriously and allow informal mannerism to seep into communication with her supervisors. She should maintain a formal decorum. There is always time for everything.
I also understand that you want others to respect you and your time, and recognize that you have got your brief to take care of. Show them the same respect and recognition, while communicating within your workplace.
Conciseness is important in all written communications. Deliver the message succinctly without decorating the facts. Others will appreciate you for doing this. Do not allow verbosity to ruin your message.
Answer:
Be clear and get to the point quickly
Be more formal
Treat people as you want to be treated
Factually accurate
Explanation:
Financial statements prepared by a voluntary health and welfare nongovernmental not-for-profit organization must report expenses by the following classification(s):Functional NaturalA. YES YES ï¼ B. Yes NoC. No Yes D. No No
Answer:
A. YES YES
Explanation:
In accordance with Financial Accounting Standards Board guidelines, all nonprofit organizations in the United States are now compelled to report their expenses in accordance with their functional classification and by the natural classification.
Hence, it is true that Financial statements prepared by voluntary health and welfare nongovernmental not-for-profit organization must report expenses both by both functional and natural class.
Suppose you save for a down payment on a house by investing $1200 each quarter into an account that gives 3.6% annual interest, compounded quarterly (four times a year). How much will you have after 5 years?
Answer:
FV= $26,167.17
Explanation:
Giving the following information:
Quarterly deposit= $1,200
i= 0.036/4= 0.009
n= 5*4= 20
To calculate the future value, we need to use the following formula:
FV= {A*[(1+i)^n-1]}/i
A= quarterly deposit
FV= {1,200*[(1.009^20) - 1]} / 0.009
FV= $26,167.17
3. Suppose local governments throughout the United States increase their tax on business inventories. What would you expect to happen to U.S. investment? Why?
Answer:
The investment will fall.
Explanation:
The U.S investment will fall because the increase in the tax will reduce its corporate profit and gross domestic investment will fall. Since the primary motive of every firm or company is to earn profit but if their profit decreases then the investor will not invest. Moreover, the company or investor will choose a different country where it can make more profit. Therefore, a rise in tax rate demotivates the investment.
If the local governments increase their tax on business inventories, then, investment will decline.
Basically, when there are increase of tax on business inventories, the country's gross domestic private investment will fall because investor are discouraged to invest.
The gross private domestic investment measure the amount of money that domestic businesses invest within their own country
Hence, the high tax will discourage current and new investors.
In conclusion, If the local governments increase their tax on business inventories, then, investment will decline.
Read more about Tax increase
brainly.com/question/892408
The expected average rate of return for a proposed investment of $5,910,000 in a fixed asset, using straight-line depreciation, with a useful life of 20 years, no residual value, and an expected total net income of $17,730,000 over the 20 years is:________ (round to two decimal points).
a. 30.00%
b. 60.00%
c. 1.50%
d. 15.00%
Answer:
Option A, 30.00%, is the correct answer.
Explanation:
The investment amount = $5910000
Useful life = 20 years
Residual value = 0
Expected net income = $17730000
Use the below formula to find the average rate of return by using the given values.
The average rate of return = Average Annual Net Income / Average investment
Now insert all the given values in the formula in order to compute the average rate of return.
[ ( 17730000 / 20 ) / ( 5910000 / 2 ) ] * 100
[ 886500 / 2955000 ] * 100 =30 %
Name the 3 types of MPA programs offered at Mccombs:
Answer:
Traditional MPA
Integrated MPA
ECON-MPA
Explanation:
The details of the three types of MPA program are mentioned below:
Traditional MPA
This is a one year program (Minimum) and is available to those who hold bachelor's degree in any discipline. This program does not require any prior work experience.
Integrated MPA
Program designed for McCombs undergraduates. in this pathway students earn their Bachelors and Masters (MPA) in just five years, saving them both time and money.
ECON-MPA
This program is developed for current UT undergraduates in economics. This helps them earn a Bachelors degree in economics and MPA degree within their period of study.
Prepare a statement of revenues, expenses, and changes in fund net position. The net position balance at the beginning of the period was $60,129.
Complete Question:
The Town of Elizabeth operates the old train station as an enterprise fund. The train station is on the national register of historic buildings. Since the town has held the building for such a long time, the Central Station Fund has no long-term debt. The only capital assets recorded by the Central Station Fund are machinery and equipment. Businesses rent space in the building and the town provides all services related to the operation and maintenance of the building. Following is information related to the fund's 2017 operating activities:
1. Rental income of $94,444 was accrued. Subsequently, cash in the amount of $90,210 was received on accounts.
2. Cash expenses for the period included: administrative services, $25,205; maintenance and repairs, $72,882; supplies and materials, $7,792 and utilities $30,124.
3. The Central Station Fund received a $60,000 transfer of funds from the General Fund.
4. Adjustments were made for depreciation ($3,519) and for uncollectible accounts ($667).
5. At the end of the period, nominal accounts were closed.
Required: (b only)
Prepare a statement of revenues, expenses, and changes in fund net position. The net position balance at the beginning of the period was $60,129.
Answer:
The Central Station Enterprise Fund
Statement of Revenues, Expenses, and Changes in Fund Net Position for the year ended December 31, 20XX:
Rental Income $90,210
Expenses:
Administrative services 25,205
Maintenance & Repairs 72,882
Supplies & Material 7,792
Utilities 30,134
Total Expenses $136,193
Excess Expenses (45,983)
Transfer from
General Funds 60,000
Beginning balance 60,129
Ending Balance $74,146
Explanation:
The Central Station Enterprise Fund's statement of revenues, expenses, and changes in fund balances is the governmental funds' income statement. It tracks the inflow and outflow of resources. The statement does not only report revenues and expenses, it also reports inflows and outflows of resources like the transfer of funds received from the General Fund, including the beginning fund balance. Together, these will result to an ending fund balance.
Job 607 was recently completed. The following data have been recorded on its job cost sheet:Direct Materials $3,405 Direct Labor Hours 50 labor hoursDirect Labor wage rate $13 per labor hourMachine Hours 158 machine hoursThe company applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $14 per machine-hour. The total cost that would be recorded on the job cost sheet for Job 607 would be:
Answer:
Total cost= $6,267
Explanation:
Giving the following information:
Direct Materials $3,405
Direct Labor Hours 50 labor hours
Direct Labor wage rate $13 per labor hour
Machine Hours 158
The predetermined overhead rate is $14 per machine-hour.
To calculate the total cost, we need to use the following formula:
Total cost= direct material + direct labor + allocated overhead
Total cost= 3,405 + 13*50 + 14*158
Total cost= $6,267
Monopolistically competitive firms are troublesome to regulate for all of the following reasons, EXCEPT:_________.
a. they comprise a large proportion of the economy.
b. their market and political power renders them virtually untouchable.
c. it could result in fewer choices for consumers.
d. regulating prices only magnifies the inefficiency typical of these firms.
e. the government may be forced to subsidize firms to keep them in business.
Answer: b. their market and political power renders them virtually untouchable.
Explanation:
Monopolistically competitive firms typically comprise a large proportion of the economy and are therefore troublesome to regulate due to their sheer number.
Regulating them could also be troublesome for the economy as it might reduce the options that consumers have as well as exacerbate the inefficiencies of said firms.
They are not however, virtually untouchable as there are a myriad of laws that enable the Government to regulate them if the Government feels it is in the best interest of the consumers.
describe the efforts that local governments should make to increase local revenue from the tax sector!
Answer:
I need help too, I'm about to fail this
A budget which estimates the types of selling expenses expected during the budget period is called a]
Answer:
selling expense budget
Explanation:
Selling expenses Budget in finance can be described as the budget that are needed to make the products reach the buyers/ consumers. This selling expenses Budget can range from the salary of the workers that are responsible for making the goods to reach the consumer s, the money paid on advertisement for the goods, all the money spent on promotion and others.
It should be noted that that selling expenses Budget gives estimates of all these afformentioned expenses.
You have observed that your organization is not getting any incoming messages. What would be the most likely problem
Answer:
Port 25 is not open on the firewall
Explanation:
Ports can be open or closed on a computer for security reasons. Usually this is done to block public access to processes running on the computer for example by a malicious software.
If an organisation notice they are not getting incoming mail it is most likely due to port 25 being closed in the firewall.
Port 25 controls sending of mails. So it will need to be opened to allow mails to be sent.
The following procedure can be used to open port 25.
- Open control panel
- Right click on Inbound rule. Select New Rule
- Select the port option
- Click on TCP and Local Ports
- Select action to be taken (Allow connection if it is secure).
- Select the type of connection. That is Private or Public
- Assign a name and click Finish
Assume a project has earnings before depreciation and taxes of $15,000, depreciation of $25,000, and that the firm has a 30% tax bracket. What are the after-tax cash flows for the project
Answer: $12,000
Explanation:
The following information can be gotten from the question:
Earnings before depreciation and taxes = $15,000
Less: depreciation = $25,000
The earnings before tax = -$10,000
Less: taxes at 30% = -$3,000
Earnings after tax = -$13,000
Add: depreciation = $25,000
Cash flow = $25,000 - $13,000
= $12,000
ABC, Inc. is a calendar-year corporation. Its financial statements for the years 2021 and 2020 contained errors as follows:
2021 2020
Ending inventory $9,000 overstated $24,000 overstated
Depreciation expense $6,000 understated $18,000 overstated
Assume that the proper correcting entries were made at December 31, 2020. By how much will 2021 income before taxes be overstated or understated?
A) $15,000 overstated B) $ 3,000 understated
C) $ 6,000 overstated D) $ 3,000 overstated
Answer: A) $15,000 overstated
Explanation:
Ending Inventory is subtracted from Cost of Goods sold so an overstated Ending Inventory would mean a smaller Cost of Goods sold and hence an overstated Income.
An Understated Depreciation amount would have the same effect because Depreciation is an expense so understating it would mean less expenses subtracted from Income leading to an overstated income.
As both of them will overstate income, the total overstatement would be;
= 9,000 + 6,000
= $15,000