A new $300,000 mortgage purchased by Fannie Mae in the secondary mortgage market is an example of a Conforming loan.
What are Conforming loans?Conforming loans are those that meet the guidelines established by Fannie Mae and Freddie Mac, the government-sponsored entities (GSEs) that purchase loans from mortgage lenders. They are the most prevalent type of loan for homeowners, particularly those who require a loan that exceeds the conventional mortgage loan limit, which is $548,250 for a single-family house in most areas. Borrowers must have a credit score of at least 620 and a debt-to-income ratio of less than 43% to be eligible for a conforming loan. Conforming loans are essential because they ensure the liquidity of the mortgage market by allowing lenders to sell their loans to investors.
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use a 5-year study period, an effective tax rate of 44%, an after-tax minimum acceptable rate of return (marr) of 11% per year, and an assumption of classical straight line depreciation (no half-year convention) to perform an after-tax aw-based replacement study. the annual worth of the defender is determined to be $ ____. the annual worth of the challenger is determined to be $ _____. since the annual worth of the defender is smaller, it is retained.
To perform an after-tax AW-based replacement study, given a 5-year study period, an effective tax rate of 44%, an after-tax minimum acceptable rate of return (MARR) of 11% per year, and an assumption of classical straight-line depreciation (no half-year convention), the annual worth of the defender is determined to be $144,432.16, and the annual worth of the challenger is determined to be $148,506.09.
Therefore, since the annual worth of the defender is smaller, it is retained. The given information is used to perform an after-tax AW-based replacement study. The approach involves computing the annual worth of both the existing and the new equipment. If the annual worth of the existing equipment is larger than that of the new equipment, it is retained.
If the annual worth of the new equipment is larger than that of the existing equipment, then the new equipment is accepted. Here, the annual worth of the defender is compared with that of the challenger. The annual worth of the defender is given as follows: AW (defender) = - P - AW (EAC) + P(A/P, 11%, 5)Where, P = $70,000 is the purchase price of the existing equipment, AW (EAC) = $23,306.32 is the annual worth of the existing equipment, and A/P, 11%, 5 = 3.0373 is the arithmetic gradient factor.
AW (defender) = - 70,000 - 23,306.32 + 70,000(3.0373) = $144,432.16The annual worth of the challenger is computed as follows: AW (challenger) = - P + S(A/P, 11%, 5) - AW (EAC) + T(S - P)(1 - 0.44)Where, S = $95,000 is the salvage value of the new equipment, T = 44% is the effective tax rate, and A/P, 11%, 5 = 3.0373 is the arithmetic gradient factor.AW (challenger) = - 95,000 + 95,000(3.0373) - 23,306.32 + 0.44(95,000 - 70,000) = $148,506.09Since the annual worth of the defender is smaller, it is retained. Hence, the annual worth of the defender is $144,432.16, and the annual worth of the challenger is $148,506.09.
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an investor purchases a zero coupon bond with 21 years to maturity at a price of $326.28. the bond has a par value of $1,000. what is the implicit interest for the first year? assume semiannual compounding.
For the given zero-coupon bond, the implicit interest for the first year of the is 5.48%.
We need to determine the implicit interest for the first year of a zero coupon bond. A zero-coupon bond is a bond that pays no periodic interest but instead pays a fixed amount at maturity. Therefore, the interest rate of a zero-coupon bond is implicit since it is not explicitly stated but is rather calculated from the bond's price and the principal amount.
Here, the investor purchases a zero-coupon bond with 21 years to maturity at a price of $326.28. The bond has a par value of $1,000. We need to determine the implicit interest for the first year, assuming semiannual compounding.
The formula to calculate the present value of a zero-coupon bond is:
Present value = Par value / (1 + r)^n
where Par value = $1,000, n = number of years to maturity, r = semiannual interest rate.
To find the semiannual interest rate, we can use the above formula in reverse to get:
r = (Par value / Present value)^1/n - 1
Let's put the values given in the question and calculate the semiannual interest rate:
r = (1000/326.28)^1/42 - 1
r = 2.7%T
he semiannual interest rate is 2.7%.
Since compounding is semiannual, we can find the annual interest rate as follows:
Annual interest rate = (1 + Semiannual interest rate)^2 - 1
Annual interest rate = (1 + 0.027)^2 - 1
Annual interest rate = 0.05478 or 5.48%
Thus, the implicit interest for the first year of the zero-coupon bond is 5.48%.
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Bob wants to sell his recreational vehicle (rv) for $21000. He emails curt with an offer -, but mistakenly types that the price is $20100. Curt says he accepts the offer and pays Bob $19.100 Bob or curt
- Can avoid the deal due to a mistake of value
- Can avoid the deal due to a unilateral mistake
- Must deliver the RV
- Can avoid the deal due to a bilateral mistake
In the following question, option 2). Bob wants to sell his recreational vehicle for $21000. emails curt with an offer -, but types that the price is $20100. Curt says he accepts the offer and pays Bob $19.100 Bob or Curt "can avoid the deal due to a unilateral mistake."
What is a unilateral mistake? A unilateral mistake occurs when one of the parties in a contract is mistaken about the terms of the contract. The other party is aware of the mistake but does not tell the mistaken party. A unilateral mistake does not give the mistaken party the right to cancel the contract. However, the contract can be avoided if the mistaken party can show that the mistake was caused by the other party's fraud, duress, or undue influence. In the given scenario, Bob wants to sell his recreational vehicle (RV) for $21,000.
He mistakenly types the price as $20,100 while emailing Curt with an offer. Curt accepts the offer and pays Bob $19,100. Bob or Curt can avoid the deal due to a unilateral mistake. Since Bob mistakenly mentioned the price and Curt accepted the offer without correcting the mistake, Curt can avoid the deal.
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Using the AD/AS model, what would be an explanation for observing an increased price level and a decreased real GDP?o wages have increased.o the money supply has decreased.o productivity has increased.o the money supply has increased.
The aggregate demand curve would be shifted to the left by a reduction in the money supply, which would result in a decline in real GDP and the price level.
A fall in the money supply might also result in a reduction in company investment spending, in addition to the aforementioned effects. This is due to the possibility that firms may have a harder time obtaining funding for their investments, which will lead the level of investment to decline. Additionally, as people may be more cautious with their purchasing owing to the unpredictability of the economy, a decline in the money supply might also result in a decline in consumer confidence. The economy's demand for products and services may be further decreased as a result, which would lower prices and real GDP. Overall, the economy may be negatively impacted by a decline in the money supply.
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Which of the following is a marketing format that uses banner ads and pop-ups with interactive features?a. video adsb. search engine adsc. rich media adsd. e-mail adse. display ads
The marketing format that uses banner ads and pop-ups with interactive features is called rich media ads. option (c) is the correct answer.
Banner ads are the most popular type of online advertising because they are cost-effective and have a high reach. Pop-up ads are ads that appear in a new browser window when a user clicks on a hyperlink or when a page is loading.
They can be very annoying, and users usually close them immediately. However, pop-ups can be useful if they provide relevant information or offer a discount or free trial to users who complete a short survey or enter their email address. Pop-ups can also be used to promote events or new products or services.
Rich media ads are a type of online advertising that uses banner ads and pop-ups with interactive features.
Search engine advertising is a type of online advertising that appears on search engine results pages (SERPs).
Email ads are ads that are sent to users’ email inboxes.
Therefore option C is the correct answer rich media ads.
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the nurse is seeing a client who has lost 5 lbs in the second trimester of her pregnancy. which statement by the pregnant woman indicates that she may be experiencing pica?
The nurse is seeing a client who has lost 5 lbs in the second trimester of her pregnancy. The statement by the pregnant woman that indicates that she may be experiencing pica is "I love eating ice.
Pica is a condition in which an individual, typically pregnant women, has an intense craving for non-food items. Pica is a term used to describe the desire for non-food substances such as ice, paper, clay, chalk, or even paint chips.
A woman who is pregnant may begin to have an intense desire for non-food substances, which can be a sign of an underlying medical condition. The nurse should be aware of this condition and monitor the pregnant woman's behavior.
Pica can be challenging to diagnose because many people do not consider their cravings for non-food items to be abnormal or may not report them to their healthcare provider. Therefore, a nurse should be vigilant about the signs and symptoms of pica during prenatal care visits.
If a pregnant woman reports cravings for non-food substances, the nurse should ask about her dietary habits and suggest a complete blood count to evaluate for any nutritional deficiencies.
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on april 1, 2024, washtenaw corporation realizes that one of its main suppliers is having difficulty meeting delivery schedules, which is hurting washtenaw's business. the supplier explains that it has a temporary lack of funds that is slowing its production cycle. washtenaw agrees to lend $420,000 to its supplier using a 12-month, 12% note. required: record the following transactions for washtenaw corporation: the loan of $420,000 and acceptance of the note receivable on april 1, 2024. the adjusting entry for accrued interest on december 31, 2024. cash collection of the note and interest on april 1, 2025.
The transactions that Washtenaw Corporation needs to record are the loan of $420,000 and acceptance of the note receivable on April 1, 2024, the adjusting entry for accrued interest on December 31, 2024, and cash collection of the note and interest on April 1, 2025.
Transaction 1: April 1, 2024 was the date on which Washtenaw Corporation lent a loan of $420,000 to its supplier using a 12-month, 12% note. It's recorded as follows: Notes Receivable$420,000 Cash$420,000
Transaction 2: December 31, 2024 :The adjusting entry for accrued interest on December 31, 2024, needs to be made. The company needs to accrue interest revenue for the nine months that have passed since the initial loan. The adjusting entry will appear in the following way: Interest Receivable$37,800 ([$420,000*12%]*9/12)Interest Revenue$37,800
Transaction 3: On April 1, 2025, Washtenaw Corporation will receive a cash collection of the note and interest. In the company's accounts, this will appear as follows: Cash $472,800 (Interest of $37,800 + the principal amount of $420,000) Notes Receivable $420,000 Interest Receivable $37,800 (Interest due on the note up to April 1, 2025) Interest Revenue $37,800 (Interest earned for the full year) .
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In the following case, either a recessionary or inflationary gap exists. Assume that the aggregate supply curve is horizontal so that the change in real GDP arising from a shift of the aggregate demand curve equals the size of the shift of the curve. Calculate the magnitude of both the change in government purchases of goods and services and the change in government transfers necessary to close the gap c. Real GDP equals $180 billion, potential output equals $100 billion, and the marginal propensity to consume is 0.8 gap. Economy faces ____ gap. To close the gap, government spending and/or transfers would need to _______
Spending would need to change by $ ____ billion (in absolute value) to close the gap.
Transfers would need to change by $ ____ billion (in absolute value) to close the gap.
The economy faces an inflationary gap. To close the gap, government spending and/or transfers would need to increase. Spending would need to change by $80 billion (in absolute value) to close the gap. Transfers would need to change by $20 billion (in absolute value) to close the gap.
In the following case, either a recessionary or inflationary gap exists. Assume that the aggregate supply curve is horizontal so that the change in real GDP arising from a shift of the aggregate demand curve equals the size of the shift of the curve.
Calculate the magnitude of both the change in government purchases of goods and services and the change in government transfers necessary to close the gap c. Real GDP equals $180 billion, potential output equals $100 billion, and the marginal propensity to consume is 0.8 gap.
Economy faces a recessionary gap. To close the gap, government spending and/or transfers would need to increase. Spending would need to change by $40 billion (in absolute value) to close the gap. Transfers would need to change by $50 billion (in absolute value) to close the gap.
The aggregate demand is equal to the total output of an economy in a given period. It represents the number of goods and services that the people of the economy are willing to purchase at various price levels. The aggregate supply curve is an economic theory that measures the sum of goods and services that businesses within a national economy produce and supply.
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. Manson Industries incurs unit costs of $8 ($5 variable and $3 fixed) in making a subassembly part for its finished product. A supplier offers to make 10,000 of the assembly part at $6 per unit. If the offer is accepted, Manson will save all variable costs but no fixed costs. Prepare an analysis showing the total cost saving, if any, Manson will realize by buying the part.
In the given problem, Manson Industries will save $20,000 by buying 10,000 subassembly parts from the supplier.
How to Prepare the Analysis?To determine the cost saving, we need to compare the total cost of producing 10,000 subassembly parts in-house versus buying them from the supplier.
Total cost of producing 10,000 subassembly parts in-house:
Variable cost per unit = $5
Fixed cost per unit = $3
Total cost per unit = $5 + $3 = $8
Total cost of producing 10,000 units = $8 x 10,000 = $80,000
Total cost of buying 10,000 subassembly parts from the supplier:
Cost per unit = $6
Total cost of buying 10,000 units = $6 x 10,000 = $60,000
Cost saving = Total cost of producing 10,000 units - Total cost of buying 10,000 units
= $80,000 - $60,000
= $20,000
Therefore, Manson Industries will save $20,000 by buying 10,000 subassembly parts from the supplier.
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Because attempting to define a particular market can be difficult and controversial, the Federal Trade Commission has begun to look less at market share and more at the data on actual market definition competition between businesses selective anti-competitive industry practices Herfindahl Hirschman Index numbers You are a birder (birdwatcher) and your neighbor has put up several birdhouses in her yard and also planted trees and flowers that attract birds. Is this an example of a negative or a positive externality? neither a positive nor a negative externality positive externality negative externality both a positive and negative externality Which of the following is considered to be one of the shortcomings of command-and- control regulations? They provide incentives for a firm to go beyond the pollution limits set by the government. They can specify what type of pollution-control technologies must be used. They often have politically motivated loopholes. They specify how much pollution can be emitted.
This is an example of a positive externality.
Positive externalities occur when the actions of one party generate a benefit for other parties.
In this case, your neighbor's actions are providing an additional benefit of attracting birds, which creates a positive benefit for birders in the area.
A shortcoming of command-and-control regulations is that they often have politically motivated loopholes, as the regulations are often established through legislative or executive action and may contain exemptions or exceptions that can be taken advantage of.
Additionally, they specify the maximum amount of pollution that can be emitted without providing incentives to go beyond those limits.
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the ethical issue(s) of top concern within the marketing function of a firm include multiple choice customer privacy, especially for children. honesty and transparency in advertising. consumer health and safety. all of these choices are correct.
The ethical issues of top concern within the marketing function of a firm include multiple choices such as customer privacy, especially for children, honesty and transparency in advertising, and consumer health and safety.
Why are these issues critical?These issues are critical because they directly impact the reputation of the firm and its relationship with customers. For example, violating customer privacy can lead to loss of trust and legal consequences. Similarly, dishonest advertising can mislead consumers and harm their health and safety.
Therefore, it is essential for marketers to prioritize ethical considerations in their strategies and ensure that they comply with industry regulations and best practices.
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Fundamental analysis shows that XYZ Company is fairly valued. Then XYZ Company unexpectedly improves its production techniques and unexpectedly hires a new CEO away from another very successful competitor. Suppose this has no effect on the price of the stock of XYZ Company. a. Fundamental analysis would now show the firm is overvalued. The fact that the price was unchanged is consistent with the efficient markets hypothesis. b. Fundamental analysis would now show the firm is overvalued. The fact that the price was unchanged is not consistent with the efficient markets hypothesis. c. Fundamental analysis would now show the firm is undervalued. The fact that the price was unchanged is consistent with the efficient markets hypothesis. d. Fundamental analysis would now show the firm is undervalued. The fact that the price was unchanged is not consistent with the efficient markets hypothesis.
The correct answer is option d: Fundamental analysis would now show the firm is undervalued. The fact that the price was unchanged is not consistent with the efficient markets hypothesis.
Fundamental analysis is a method of evaluating a company's intrinsic value by examining its financial and economic factors such as earnings, cash flows, and industry trends. If a company unexpectedly improves its production techniques and hires a new CEO from a successful competitor, it would likely have a positive impact on its future earnings and cash flows, and thus increase its intrinsic value.
If the stock price of XYZ Company does not change in response to these positive developments, it suggests that the market has not fully incorporated this new information into its valuation of the company. This is not consistent with the efficient markets hypothesis, which states that all available information is immediately reflected in the market price of a security.
Therefore, fundamental analysis would indicate that the firm is undervalued because its intrinsic value has increased due to the positive developments, but the market has not fully recognized this increase in value.
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carol was asked by her boss to develop a master budget for the company she works for, ''the big spoon.'' she doesn't know where to start with this project. which budget would you suggest she start with, and why?
Carol should begin her master budget for "The Big Spoon" by creating an operational budget. An operational budget will help Carol organize the company's expenses and anticipate the necessary funding for upcoming operations. It also helps provide a financial forecast to ensure the company meets its financial goals.
An operational budget should include an estimate of fixed and variable costs, such as personnel costs, rent, taxes, and other expenses. Carol should also account for any changes that may occur in the market, such as increases in the price of raw materials, changes in demand, or new taxes. This will ensure that the budget she creates is flexible and adaptable.
Additionally, Carol should consider the company's current financial situation. This will help her identify any potential financial risks and take the necessary steps to mitigate them. She should also create a timeline of milestones that she will need to achieve in order to complete the budget. This will help her stay organized and on track.
Overall, creating an operational budget is a good starting point for Carol's master budget for "The Big Spoon." By carefully analyzing the company's expenses and considering changes in the market, she can create a budget that is both accurate and flexible. Additionally, creating a timeline of milestones will help her stay organized and on track.
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if a payroll system continues to pay employees who have been terminated, control weaknesses most likely exist because
If a payroll system continues to pay employees who have been terminated, control weaknesses most likely exist because there were inadequate manual controls maintained outside the computer system.
What is payroll system?This is a significant problem in any organization because it may lead to financial losses and other legal problems. However, a payroll system is software that organizations use to process and manage employee payrolls. Payroll software can be cloud-based or installed on a company's server.
The goal of payroll software is to simplify and automate the payroll process, which reduces the possibility of errors and saves time and effort. Payroll software typically includes the following features: Automatic calculations for employee payments, such as wages, overtime, taxes, and benefits.
Administration of direct deposits and paper checks. Track and record employee hours, leave, and vacation time. Generate payroll reports and tax forms to assist with compliance. Management of employee records and data.
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reverse logistics: group of answer choices calculates total delivery cost from customer to producer is the return of goods is easily automated is always done by a company's carrier selection is best applied to small diverse markets
Reverse logistics is the process of returning goods from the customer to the producer.
This process includes calculating the total delivery cost, which can easily be automated. However, it is not always done by a company's carrier selection, and is best applied to small, diverse markets.
For example, if a customer returns an item from a small store, a reverse logistics system could be used to ensure the return is handled efficiently.
The system would calculate the delivery cost and the producer could manage the return easily.
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which industry accounts for about 80 percent of world trade? multiple choice question. telecommunications and transportation services insurance and banking products manufactured goods and commodities education and tourism services
The industry that accounts for about 80 percent of world trade is manufactured goods and commodities.
What are manufactured goods and commodities?Manufactured goods are those products created from the conversion of raw materials and semi-manufactured products. Commodities are products that have a broad market, are interchangeable with other similar products, and whose price is determined by supply and demand.
Examples of manufactured goods are cars, computers, and appliances, while commodities include crude oil, metals, coffee, and sugar. So, the industry that accounts for about 80 percent of world trade is manufactured goods and commodities.
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hich of the followings is incorrect? assets can be either tangible or intangible all items in the common-size balance sheet are expressed as a percentage of total assets there is generally a bigger difference between the book value and the market value of fixed assets as compared to cash based on generally accepted accounting principles, asset
The statement that is incorrect is: "Based on generally accepted accounting principles, assets are recorded on the balance at their current market value."
That statement is incorrect because according to generally accepted accounting principles, assets are recorded on the balance sheet at their historical cost, not their current market value. Historical cost refers to the amount of money that was paid to acquire the asset or the cost of producing the asset, whereas market value is the amount that the asset could be sold for in the current market.
Generally, assets can be either tangible or intangible. Tangible assets are physical assets, such as land, buildings, equipment, and inventory, while intangible assets are non-physical assets, such as patents, trademarks, copyrights, and goodwill.
All items in the common-size balance sheet are expressed as a percentage of total assets. This is a commonly used method of analyzing financial statements that help to identify trends and changes in the balance sheet over time.
There is generally a smaller difference between the book value and the market value of fixed assets as compared to cash. This is because fixed assets are typically long-term assets that are not subject to significant fluctuations in value, whereas cash is a highly liquid asset that can be affected by changes in interest rates and other economic factors.
Your question is incomplete. The completed one should be:
which of the following is incorrect?
assets can be either tangible or intangible.all items in the common-size balance sheet are expressed as a percentage of total assets.there is generally a bigger difference between the book value and the market value of fixed assets as compared to cashBased on generally accepted accounting principles, assets are recorded on the balance at their current market value.Learn more about generally accepted accounting principle at https://brainly.com/question/28345482
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Use the following information to answer this question.Windswept, Inc.2017 Income Statement($ in millions)Net sales $ 9,600 Cost of goods sold 7,550 Depreciation 380 Earnings before interest and taxes $ 1,670 Interest paid 95 Taxable income $ 1,575 Taxes 551 Net income $ 1,024 Windswept, Inc.2016 and 2017 Balance Sheets($ in millions)2016 2017 2016 2017 Cash $ 200 $ 230 Accounts payable $ 1,410 $ 1,542 Accounts rec. 950 850 Long-term debt 1,040 1,273 Inventory 1,690 1,625 Common stock 3,200 2,950 Total $ 2,840 $ 2,705 Retained earnings 510 760 Net fixed assets 3,320 3,820 Total assets $ 6,160 $ 6,525 Total liab. & equity $ 6,160 $ 6,525 What is the equity multiplier for 2017?
The equity multiplier for Windswept, Inc. in 2017 is approximately 1.76.
To find the equity multiplier for Windswept, Inc. in 2017, we will use the following formula:
Equity Multiplier = Total Assets / Total Stockholders' Equity First, we need to find the Total Stockholders' Equity for 2017.
This can be calculated by adding Common Stock and Retained Earnings: Total Stockholders' Equity = Common Stock + Retained Earnings Total Stockholders' Equity
= $2,950 million + $760 million Total Stockholders' Equity = $3,710 million
Now, we can use the Equity Multiplier formula: Equity Multiplier = Total Assets / Total Stockholders' Equity Equity Multiplier = $6,525 million / $3,710 million
Equity Multiplier ≈ 1.76
The equity multiplier for Windswept, Inc. in 2017 is approximately 1.76.
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sundance systems has the following transactions during july. july 5purchases 42 lcd televisions on account from red river supplies for $2,600 each, terms 2/10, n/30. july 8returns to red river four televisions that had defective sound. july 13pays the full amount due to red river. july 28sells remaining 38 televisions from july 5 for $3,100 each on account.
As per the given transactions for Sundance Systems during July, the step-by-step explanations are mentioned below:On July 5th, Sundance Systems purchased 42 LCD televisions on account from Red River Supplies for $2,600 each, terms 2/10, n/30.
Sundance Systems Account is debited with $109,200 [$2,600 x 42] and Red River Supplies Account is credited with the same amount. Sundance Systems will also record the accounts payable for $109,200 until the payment is made.
On July 8th, Sundance Systems returned four televisions to Red River Supplies that had defective sound.Red River Supplies Account is debited with $10,400 [$2,600 x 4] and Sundance Systems Account is credited with the same amount.
On July 13th, Sundance Systems pays the full amount due to Red River Supplies.Sundance Systems will record a reduction in accounts payable of $98,800 [$109,200 - $10,400] and Cash Account will be debited with $98,800.
On July 28th, Sundance Systems sells the remaining 38 televisions from July 5th for $3,100 each on account.Sundance Systems Account is credited with $117,800 [$3,100 x 38] and Accounts Receivable Account is debited with the same amount until the payment is received.Note: Sundance Systems will record a purchase discount if the payment is made within the discount period, which is 2/10, n/30. In this scenario, no purchase discount is mentioned.
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If you wanted to move some money from your checking account to your savings account, what button would you select in a mobile banking app?
answer choices
Transfer
Deposit
Deposit
Account
To move money from checking to savings in a mobile banking app, you would select the "Transfer" button and follow the prompts to indicate the amount and the accounts involved.
In mobile banking software, you would usually choose the "Transfer" button to transfer money from your checking account to your savings account. Probably a screen will appear where you can select the accounts you want to move money to and the sum you want to transfer.
Another choice you may have is to set up recurring transfers or plan the move for a later time. Before completing the transfer, it's crucial to validate that you've picked the right accounts and input the right amount.
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in data-driven decision-making, a person who is very familiar with the business problem is known as a subject-matter expert.T/F
True. A subject-matter expert is a person with extensive knowledge and experience in a specific profession or industry who can offer insightful advice and direction for data-driven decision-making.
What does "subject matter expert" mean?A subject matter expert (SME) is a person who possesses in-depth knowledge in a certain field. These skills are frequently earned through years of training and education in their profession.
What does an Accenture subject matter expert do?The subject matter expert will offer practical assistance for policy-related incidents, requests, and concerns. In order to quickly handle requests issues while maintaining proper documentation, communication, escalation, and tracking, he or she will coordinate with other support teams or product teams as necessary.
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When an auditor of a nonissuer becomes aware that one or more auditing procedures that the auditor considered necessary in the circumstances existing at the time of the audit were omitted from the audit of the financial statements,
The US GAAS guidance relevant to this matter relates to the period subsequent to the audit report RELEASE date regarding when the auditor became aware of the omission
The auditor must re-perform the omitted procedures and consider any findings in evaluating the financial statements and in forming the opinion.
The US Generally Accepted Auditing Standards (GAAS) guidance relevant to this matter states that when an auditor of a nonissuer becomes aware that one or more auditing procedures that the auditor considered necessary in the circumstances existing at the time of the audit were omitted from the audit of the financial statements, they must take certain action within a certain period after the audit report's release date. The auditor must re-perform the omitted procedures and consider any findings in evaluating the financial statements and in forming the opinion.
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pelcher co. maintains a $405 petty cash fund. on january 31, the fund is replenished. the accumulated receipts on that date represent $111 for office supplies, $142 for merchandise inventory, and $71 for miscellaneous expenses. there is a cash overage of $5. the journal entry to replenish the fund on january 31 is:
The cash fund currently holds $405 and the accumulated receipts total $324. The breakdown of the receipts is $111 for office supplies, $142 for merchandise inventory, and $71 for miscellaneous expenses. The journal entry to replenish the petty cash fund on January 31 is a debit of $405 to the Petty Cash account and a credit of $400 to the Cash account.
To replenish the petty cash fund, a journal entry is necessary. The entry should be recorded as a debit to the Petty Cash account and a credit to the Cash account. The debit to the Petty Cash account is for $405, which is the total amount of the fund.
The credit to the Cash account is for $405 minus the average of $5, which is $400. This entry records the replenishment of the fund and reflects the total amount of receipts accumulated during the month.
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Using the PV function, if the interest rate is an annual rate and the payments are quarterly, what should you type after the cell address?A. /12B. /6C. /4D. /2
To adjust the interest rate from an annual rate to a quarterly rate when using the PV function, you should type "/4" after the cell address.
What is the PV function?The PV (Present Value) function is used in financial analysis to calculate the present value of an investment or a series of payments based on a given interest rate and a number of periods.
When the interest rate is an annual rate and the payments are made quarterly, you need to adjust the interest rate accordingly to get an accurate result. This is because the PV function assumes that the interest rate is based on a single payment period, which is usually a year.
Therefore, To adjust the interest rate, you need to divide it by the number of payment periods per year. For example, if the interest rate is 8% per year and payments are made quarterly, you would divide 8% by 4 to get a quarterly interest rate of 2%.
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The EU is an example of a trading bloc, or a______________, which has a common external tariff, no internal tariffs and the coordination of laws to facilitate trade between member countries.a) common marketb) multinational export assistance centerc) strategic allianced) joint venture
In the following question, among the given options, "option a". The EU is an example of a trading bloc, or a "common market," which has a common external tariff, no internal tariffs, and the coordination of laws to facilitate trade between member countries.
What is a common market? A common market refers to a type of trading bloc in which countries reduce internal barriers to trade while also having a shared external trade policy. Member countries maintain distinct economies while eliminating tariffs on goods that cross borders and, in some cases, coordinate fiscal and monetary policies.What is a trading bloc?A trading bloc refers to a group of countries that work together to increase trade between them by lowering trade barriers such as tariffs, import quotas, and export subsidies. Trading blocs, also known as regional trade agreements, are formed with the aim of reducing trade restrictions and promoting economic growth and cooperation. The European Union (EU), the North American Free Trade Agreement (NAFTA), and the Association of Southeast Asian Nations (ASEAN) are some of the most well-known trading blocs.
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In the cost-volume-profit graph,a.the break-even point is found where the total revenue curve crosses the x-axis.b.the area of profit is to the left of the break-even point.
c.the area of loss cannot be determined.
d.both the total revenue curve and the total cost curve appear.
e.neither the total revenue curve nor the total cost curve appear.
In the cost-volume-profit graph, both the total revenue curve and the total cost curve appear. (option d)
In the cost-volume-profit (CVP) graph, the break-even point is where the total revenue curve intersects with the total cost curve, which means that the company has reached a point where it is neither making a profit nor incurring a loss.
The area of profit is to the right of the break-even point, which indicates that the company is generating a profit. The area of loss is to the left of the break-even point, indicating that the company is incurring losses.
Both the total revenue curve and the total cost curve appear on the graph, and they intersect at the break-even point.
Therefore the correct answer is option d.
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The total, or market, curve for a specific resource shows the various total amounts of the resource that firms will purchase or hire at various resource prices, other things equal is called___
The total, or market, curve for a specific resource that shows the various total amounts of the resource that firms will purchase or hire at various resource prices, other things equal is called the supply curve.
A supply curve is a graph that shows the quantity supplied of a good or service at different prices. The supply curve is generally upward-sloping since as prices rise, suppliers are willing to produce and sell more goods or services.
The supply curve is an essential concept in economics since it reflects the connection between price and the quantity supplied.
The supply curve is based on the assumption that all other factors affecting supply, such as production costs and technology, are held constant.
This means that as prices rise, suppliers will be encouraged to produce more goods or services, resulting in an increase in supply.
This concept is fundamental to understanding how the market works, particularly in situations where there is competition between different producers.
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according to the heckscher-ohlin theory, it is expected that the united states would export capital-intensive goods and import labor-intensive goods, but the opposite was found to be true. this became known as the
According to the Heckscher-Ohlin theory, it is expected that the United States would export capital-intensive goods and import labor-intensive goods, but the opposite was found to be true. This became known as the Leontief paradox.
What is the Heckscher-Ohlin theory?Heckscher-Ohlin theory is the theory of international trade. The theory seeks to explain why countries trade with each other. In this theory, countries have different resources available for them. Resources include capital, land, and labor. Countries tend to produce and export goods that require resources that are abundant and cheap in that country. They tend to import goods that require resources that are scarce in their own country.
The Leontief Paradox according to the Heckscher-Ohlin theory, the US should have been an exporter of capital-intensive goods and an importer of labor-intensive goods. Instead, the opposite was found to be true. This became known as the Leontief paradox. In 1953, Wassily Leontief, an economist, showed that the US was exporting labor-intensive goods and importing capital-intensive goods. This result was surprising and unexpected because it was contrary to the predictions of the Heckscher-Ohlin theory.
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Which of the following statement is the best regarding JIT?I. It is a philosophy that relates to the way in which a manufacturing company organizes and operate its business.II. It is a set of techniques to make manufacturing more productive.III. It is concerned with adding value to the product. 14.00 stion Select one:A. all the above are trueB. only I and II are trueC. only I and III are trueD. only II and Ill are true
The phrase "a theory that relates to the method in which a manufacturing organisation organises and manages its business" best sums up JIT (Just-In-Time). As a result, only assertion I is accurate.
What is the just in time (JIT) systems' guiding principle?JIT manufacturing is a strategy built on decreasing waste, increasing overall quality control, and lowering manufacturing costs. JIT's key goal is to produce the appropriate amount of product at the appropriate time and location while keeping a small amount of work-in-process and finished work in stock.
What does the term "just" in JIT manufacturing mean?A production strategy known as "just-in-time manufacturing" (JIT manufacturing) relies on the idea that goods should only be produced when they are actually needed.
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Suppose you are given the following demand data for a product.
PriceQuantity Demanded$1030940850760670
The price elasticity of demand (based on the midpoint formula) when price increases from $7 to $9 is
rev: 05_14_2018
Multiple Choice
◉ -.63.
◉ -1.16.
◉ -1.60.
◉ -2.27.
The price elasticity of demand (based on the midpoint formula) when price increases from $7 to $9 is -1.60.
Price elasticity is the percentage change in the quantity demanded of a commodity caused by the percentage change in the price of the commodity itself, or the proportional change in the quantity demanded divided by the proportional change.
This can be calculated using the following formula:
Price Elasticity of Demand = (change in Quantity Demanded/ (change in Price) * (Average Price/Average Quantity Demanded))
= ( (740 - 850) / (9 - 7) * ((9 + 7) / (740 + 850)) )
= -1.6
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