A loan is amortized over five years with monthly payments at an annual nominal interest rate of 9% compounded monthly. The first payment is 1000 and is to be paid one month from the date of the loan. Each succeeding monthly payment will be 2% lower than the prior payment. Calculate the outstanding loan balance immediately after the 40th payment is made.

Answer:

$3.00

Explanation:

Calculation for the Cost per equivalent unit for Material Q under the weighted-average method

First step is to calculate the Units transferred

Units transferred= 28000 + 72000 - 16000

Units transferred= 84,000

Second step is to calculate Equivalent units of material P

Equivalent units of material P= 84,000 + 16000

Equivalent units of material P= 100,000 Units

Now let calculate the Cost per Equivalent Units

Cost per Equivalent units of Material P

Beginning WIP Inventory Cost $120,000

Add Cost incurred during period $ 180,000

Total Cost to be accounted for $ 300,000

($300,000+$120,000)

÷Total Equivalent Units 100,000

=Cost per Equivalent Units $3.00

($300,000÷$100,000)

Therefore the Cost per equivalent unit for Material Q under the weighted-average method will be $3.00

Answer:

the gain on retirement bond is $100,000

Explanation:

The computation of the gain or loss recognized on the bond retirement is shown below;

= Book value - paid at redemption

= ($1,500,000 + $157,500) - ($1,500,000 × 105%)

= ($1,657,500) - ($1,575,000)

= $100,000

hence, the gain on retirement bond is $100,000

The same is to be considered and relevant too

Answer: First-In, First-out; Last-in, First-out

Explanation:

First-In, First-out(FIFO) and Last-in, First-out(LIFO) are both methods of inventory valuation that are used to assume the cost of inventory such that Cost of Goods sold can be calculated.

FIFO works by assuming that the oldest inventory purchased by the company is the one that was sold first while LIFO works by assuming that the newest inventory is sold first.

Using FIFO therefore will result in lower inventory costs because it is using old prices as opposed to LIFO which would reflect the increase in inventory prices as it is using recent prices.

Answer:

Dr Trucks (New) $41,160

Dr Accumulated Depreciation $9,604

Dr Loss on Disposal $4,116

Cr Cash $25,480

Cr Trucks (Old)$29,400

Explanation:

Preparation of the Journal entry to record the trade-in

Dr Trucks (New) $41,160

Dr Accumulated Depreciation $9,604

($29,400-$5,880*49 months/120 months)

Dr Loss on Disposal $4,116

($29,400-$9,604-$15,680)

Cr Cash $25,480

Cr Trucks (Old)$29,400

Answer: The supplier position model aids the organization to rate their supplies based on the amount of spent when considering how and who it was supplied through

Explanation:

The supplier position model aids the organization to rate their supplies based on the amount of spent when considering how and who it was supplied through. It also gives a clue to the susceptibility level and the level of vulnerability that the business would be exposed to when the supplier fails.

In summary, it affects how a getting manager plans to try and do business with suppliers.

Answer:

Customer-sustaining cost

Explanation:

Cost of sales visits are costs associated with sales efforts. They can include direct labour, overheads, and direct materials.

This is regarded as a consumer sustaining cost because it is incurred in service to the customer.

Sales visits along with travelling cost are a way to ensure customer is satisfied and keeps coming back for more products.

Customer sustaining activities enables a business more effectively serve the customer with a view of maintaining their loyalty.

Answer: Understated by $7 million

Explanation:

Cost of goods old is calculated by deducting the closing balance of inventory from the Opening balance and the Purchases for the period in the manner:

Cost of Goods sold = Opening inventory + Purchases - Closing stock.

Going by the formula, if the opening inventory is understated by $7 million, the cost of goods sold will be understated by the same amount because opening inventory adds to Cost of goods sold.

Answer:

in folklore, a narrative containing information about actual persons and events. Originating from the tales of eyewitnesses, the traditional account departs from its original factual basis when retold and becomes subject to free poetic interpretation.

Answer:

This means that there is an increase in cash(cash has been collected). And for the unearned revenue which is a liability, there is an increase in the liability

Explanation:

This means that there is an increase in cash(cash has been collected). And for the unearned revenue which is a liability, there is an increase in the liability.

Note: Debit side increases asset(cash) and expenses while credit side decreases liability,income and equity.

Credit side decreases asset(cash) and expenses while debit side increases liability,income and equity.

Answer: 16.88%

Explanation:

Going by the Dupont 3 step method to calculate Return on Equity, the formula for ROE is:

ROE = Net Profit Margin * Assets turnover * Equity Multiplier

= 6.25% * 1.5 * 1.8

= ‭0.16875‬

= 16.88%

Answer:

Benjamin and Amelia Hopkins

The Hopkins can claim on their 2020 tax return child tax credit of $2,000 for Harper only.

Explanation:

a) Data and Calculations:

Benjamin and Amelia Hopkins = Married and Filing Jointly

Benjamin = a U.S. citizen with a valid Social Security number

Amelia = a resident alien with an Individual Taxpayer Identification Number (ITIN)

Benjamin's 2020 earned wages = $25,000

Amelia's 2020 earned wages = $15,000

Total gross income = $40,000

Dependent children = Harper, 9 and Evelyn, 12

Harper = a U.S. citizen with a valid Social Security number (SSN)

Evelyn = a resident alien and has an ITIN

b) Benjamin and Amelia cannot claim the child tax credit for Evelyn since she does not have the SSN even though she has an ITIN. They can claim for Harper, who has an SSN.  Harper is a  qualifying child and eligible for the child tax credit (CTC) of $2,000 per child.

Answer: Cheaper exports

Explanation:

A large part of the Chinese economy is dependent on the foreign trade it initiates with the rest of the world. Having a weak currency can aid that.

Export prices are quoted in the currency of the country doing the exporting so if their currency is weaker relative to a country they are exporting to, their goods will be cheaper in that market which will make people want to buy their goods more.

This is why China would deflate its currency. Having a weaker currency means their exports are cheaper which will increase the amount of it bought.

Answer:

Compounding is the addition of the Interests to the Present Value to arrive at the Future Value. While discounting is the deduction of interest charges from thee Future Value to arrive at the Present Value.

Explanation:

Compounding is the addition of the Interests to the Present Value to arrive at the Future Value. While discounting is the deduction of interest charges from thee Future Value to arrive at the Present Value.

Answer:

Management's assessment of the design and operation of the company's internal controls over financial reporting should be:

integrated.

Explanation:

A company's assessment of internal controls over financial reporting should be integrated to focus on the effectiveness of internal controls and the reliability of the financial statements.  The effectiveness of internal controls reduces the risk of fraudulent activities by all internal parties. Similarly, the reliability of the financial statements will ensure public confidence and engender unbiased, error-free, and faithful representation of financial performance and position to aid decision making by market participants.

Answer:

The added benefit is $200.

Explanation:

Amount on the pre-existing contract = $10,750

Total current market price for scrap aluminum = Pounds of scrap aluminum to purchase *  Current market price of scrap aluminum per pound = 10,000 * $0.83 = $8,300

Total current market price for scrap lead = Pounds of lead aluminum to purchase *  Current market price of scrap lead per pound = 2,500 * $1.06 = $2,650

Added benefit (cost) = Total current market price for scrap aluminum + Total current market price for scrap lead - Amount on the pre-existing contract = $8,300 + $2,650 - $10,750 = $200

Since the amount is positive which indicates that the addition of total current market price for scrap aluminum and total current market price for scrap lead is greater the amount on the pre-existing contract, the added benefit is therefore $200.

Answer:

discount; 1.8%

Explanation:

Calculation for the forward rate using this formula

forward rate=(F/S) - 1

Let plug in the formula

forward rate= ($1.60/$1.63) - 1

forward rate= -1.8 percent.

Therefore The forward DISCOUNT is 1.8 percent.

The forward rate at a discount or a premium:

Formula :

Forward rate=(F/S) - 1

Therefore, the forward discount is 1.8 percent.

Learn more :

https://brainly.com/question/20630008?referrer=searchResults

Answer:

Traditional volume-based job costing will not usually provide the needed cost accuracy.

Explanation:

Cost leadership strategy basically means that the company will try to sell its products and services at the lowest possible price. This should increase total sales volume, but in order to be profitable, the production and operational costs must be very low. Actually, the company needs to continuously find ways to keep their costs under control or decrease them if possible.

Answer:

e.None of these choices are correct.

Explanation:

The flax tax system means the tax system that impose  the similar level of tax for each and every household ignoring the income bracket Also it does not provide any kind of deduction or exemptions. It is necessary to file the tax. It is not a consumer tax.

So according to the given situation the last option is correct

The same is considered

Answer:

the effective rate of interest on the debt is 6.38%

Explanation:

The computation of the effective rate of interest on the debt is shown below:

Effective rate of interest is

= ($400,000 × 6%) ÷ ($400,000 × 0.94)

= $24,000 ÷ $37,600

= 6.38%

Hence, the effective rate of interest on the debt is 6.38%

It could be determined by applying the above formula so that the correct rate could come

Answer:

time and money

Explanation:

The two main general tradeoffs that you're making are time and money. You are using your valuable time pursuing that degree as well as spending money on tuition and other expenses. This therefore, becomes an opportunity cost since you could have spent that time and money doing other things such as travelling to see the world, creating a business, investing, or even learning something else. Anything that you could think of would be an opportunity cost of deciding to use your time and money to pursue that degree.

Answer: D. is appropriate when units are sold/used as they are produced

Explanation:

The economic production quantity model is sometimes referred to as the EPQ model and it is used to know the amount of goods or services that a company should order so that the total inventory costs can be reduced.

From the options given, it should be noted that the economic production order quantity is appropriate when units are sold/used as they are produced.

Therefore, the correct option is D.

Answer:

0.92%

Explanation:

To find the answer, we use the Yield to Maturity Formula (YTM):

YTM = [C + (F-P)/n] / [(F+P)/2]

Where C is coupon, F is face value or par value, n is years to maturity, and P is price.

now we plug the amounts into the formula

YTM = [90 + (1,000-980)/12] / [(1,000+980)/2]

YTM = 0.0092

YTM = 0.92%

So the YTM of this bond is only 0.92%, which is a very low YTM, typical of very safe securities like government bonds.

Answer:

$135,000

Explanation:

Calculation for What is the margin of safety in dollars

First step

2,400 x $75

= $180,000

4,200 x $75

= $315,000

The margin of safety $315,000 - $180,000

The margin of safety = $135,000

Therefore the margin of safety in dollars is $135,000

Answer:

An increase in dividends account

Explanation:

In accounting, a debit is used to record an increase in asset, an increase in expense and a decrease in liability.

With regards to the above, the correct option is an increase in dividends account because dividend is a current asset hence a debit records an increase in assets. Dividend is the returns paid to an investor or shareholder who invest or buys shares in a company. It is the reward paid to an investor for investing in a company.

Answer: All of the options are reasons for credit card use

Explanation:

By using credit cards to facilitate sales, sellers do not need to evaluate a customer's credit standing for each sale because the credit card pays.

By extension, the seller would not have to worry about extending credit to less creditworthy customers because this risk is passed on to the credit card company.

Using credit cards also increases receipt of cash from the sale because the credit card actually pays the seller.

Answer:

1. The question that you should ask during the development of strategic goals for the organization is:

a. Should our company focus more on giving things away, or on selling things for a reduced price to those in need?

2. The time-frame that the group should consider for this plan is:

b. Long-term (Five years or more)

Explanation:

A strategic plan is made up of the organization's mission, vision, and values, as well as its long-term goals.  These are backed up with the action plans for attaining the long-term goals.  A strategic plan should involve the whole of the organization and remain futuristic.  It does not concentrate on short-term objectives.  Instead, a strategic plan concentrates on long-term goals with its duration period lasting five years or more.

Answer:

Recruitment

Explanation:

Companies or organizations goes through the process of looking for candidates that best suites the vacant position in their organization ; hence encouraging such candidates to apply.

When there are openings in an organization, usually, lots of people would like to fill in such opening , but as an organization with a focus for hiring best hands, it is normal for them to ask for candidates that are qualified for such vacant position. The process of identifying suitable candidates and encouraging them to apply for a vacant post or job openings in an organization is called recruitment.

Answer:

3

Explanation:

If I am wrong I am sorry.

Answer:

3 I guess

Explanation:

hope its t

right

Answer:

Reinhardt Furniture Company

The dividends per share for preferred and common stock for each year:

                            Year 1               Year 2              Year 3

Preferred             $3.00                $3.00                $3.00

Common stock     $0                    $0.30                $2.00

Explanation:

a) Data and Calculations:

Cumulative preferred 2% stock = 40,000 shares

Cumulative preferred 2% share capital = $6,000,000 ($150 * 40,000)

Common stock = 100,000 shares

Common stock share capital = $500,000 ($5 * 100,000)

Cumulative preferred 2% annual dividend = 2% of $6,000,000 = $120,000

                          Total dividends   Preferred dividends  Common dividends

Amount distributed:

Year 1                    $70,000               $70,000 ($50,000)                       $0

Year 2                  200,000              $170,000                                 $30,000

Year 3                  320,000              $120,000                              $200,000

b) Dividend per share for preferred stock is $120,000/40,000 = $3.00 per annum.  This is the amount of dividend per share because the shares are cumulative.  The holders will always get paid at the next period when enough dividends are declared.  For the common stock, the dividend per share depends on the actual dividends distributed to the holders, divided by 100,000 shares.