Assume that John Smith is a salesperson employed by McCrackin Company. Smith's regular rate of pay is $36 per hour, and any hours worked in excess of 40 hours per week are paid at 1½ times the regular rate. Smith worked 42 hours for the week ended October 27. What are his total earnings for the week?
a. $2,268
b. $1,548
c. $1,512
d. $2,548
Which of the following economic systems best describes the economy of the United States?
O Marxism
O command
o socialism
O free-market capitalism
closed
Answer:
Free-market Capitalism
The BEST description of the economic system of the United States is D. free-market capitalism.
What is free-market capitalism?Free-market capitalism is known for the following features:
Private individuals control the factors of production.It is a purely capitalist economic system.The laws of supply and demand regulate production, labor, and the marketplace.An unregulated system of economic exchange reigns.Non-existence of or minimal presence of centralized economic interventions.The best description of the economy of the United States is not:
MarxismCommandSocialismClosed economic system.But the BEST description of the economic system of the United States is D. free-market capitalism.
Learn more about free-market capitalism at https://brainly.com/question/3369578 and https://brainly.com/question/600577
ruiz company provides the following budgeted sales for the next four months. the company wants to end each month with ending finished goods inventory equal to 30% of next months budgeted unit sales. finished goods inventory on april 1 is 210 units. prepare a production budget for the months of april, may, and june budgeted sales units april, may, and june
The budgeted sales units for April, May, and June will be 546, 600, and 578 respectively.
How to calculate the units to be produced?The unit to be produced in April will be:
= (610 × 22%) + 530 - 106
= 122 + 530 - 106
= 546
The unit to be produced in May will be:
= (560 × 20%) + 610 - 122
= 112 + 610 - 123
= 600
The unit to be produced in June will be:
= (650 × 20%) + 560 - 113
= 130 + 560 + 113
= 578
Learn more about budget on:
https://brainly.com/question/6663636
If a contingent liability is probable and the amount of the liability can be reasonably estimated, it is
a. not recorded but should be disclosed.
b. recorded and disclosed.
c. recorded only.
d. not recorded and not disclosed.
The Americans with Disabilities Act requires that employers make reasonable accommodations for individuals with disabilities. How might this requirement affect law enforcement officers and firefighters
The way in which this requirement would affect law enforcement officers and firefighters is that more disabled persons would be admitted into the force.
What is an Act?This refers to the law passed which gives explicit instructions about a particular thing that has to be carried out and is legally backed.
With this in mind, we can see that the Americans with Disabilities Act mandated that employers make reasonable accommodations for individuals with disabilities and this Act would reduce discrimination against the employment of disabled persons.
Read more about Disabilities Act here:
https://brainly.com/question/14312255
Question 5 of 20
If you invest your money today, your future purchasing power will most likely
A. go up and down
B. stay the same
C. increase
O D. decrease
SUBMIT
When you invest your money, it is likely that in future your purchasing power will A. go up and down.
What will happen to your purchasing power?If you invest your money today, there is a chance that you will get back more money than you deposited, or less than you deposited.
This means that you will either have more money or less money to purchase goods and services. In other words, your purchasing power will go up and down.
Find out more on purchasing power at https://brainly.com/question/2286004.
Which of the maturity lengths between the bonds, bills, and notes would be most advantageous during a bear market?
Answer:
perhaps bonds, but I'm not 100%sure
On December 31, 2015, Sarasota Co. performed environmental consulting services for Hayden Co. Hayden was short of cash, and Sarasota Co. agreed to accept a $160,000 zero-interest-bearing note due December 31, 2017, as payment in full. Hayden is somewhat of a credit risk and typically borrows funds at a rate of 11%. Sarasota is much more creditworthy and has various lines of credit at 6%. Required:
a. Prepare the journal entry to record the transaction of December 31, 2015, for Tran Co. b. Assuming Tran Co.'s fiscal year-end is December 31, prepare the journal entry for December 31, 2016. c. Assuming Tran Co.'s fiscal year-end is December 31, prepare the journal entry for December 31, 2017.
The appropriate journal entry to record the transaction of December 31, 2015, for Tran Co. is: Debit Notes receivable $129,859.2;Credit Service revenue $129,859.2.
Journal entries(a) December 31, 2015
Debit Notes receivable $129,859.2
($160,000 x 0.81162)
Credit Service revenue $129,859.2
(PV of $160,000 due in 2 years at 11%)
(b) December 31, 2016
Debit Notes receivable $14,284.5
($129,859.2 x 11%)
Credit Interest revenue $14,284.5
(c) December 31, 2017
Debit Discount on notes receivable $44,425
[$160,000 - ( $129,859.2- $14,284.5)]
Credit Interest revenue $44,425
Debit Cash $160,000
Credit Notes receivable $160,000
Inconclusion the journal entry to record the transaction of December 31, 2015, for Tran Co. is: Debit Notes receivable $129,859.2;Credit Service revenue $129,859.2.
Learn more about journal entry here:https://brainly.com/question/14279491
Yessica is an exchange student from Spain. She is currently studying at a college in Maryland.
Yessica's primary language is Spanish. Yessica is most likely to experience what type of
common communication barrier?
A) Lack of honesty
B) perception
C) language
D) information medium
The communication barrier Yessica is likely to face as an exchange student from Spain is language.
What is a communication barrier?Communication barrier is a thing or a factor that stands in the way of effective communication. Yessica is from Spain and she is studying in Maryland. In Spain, Spanish is spoken and in Mayland, English is spoken, thus there is a difference in language and this would stand in the way of effective communciation.
To learn more about communication barrier, please check: https://brainly.com/question/25709466
2. If the CPI is 100 in 2004 and 103 in 2005, then what is the inflation rate?
The inflation rate of the country given the CPI IN 2004 and 2005 is 3%.
What is the inflation rate?
Inflation rate is when there is a persistent rise in the general price levels of a country. The consumer price index is used to measure the price level of a basket of goods.
Inflation rate = (CPI in 2005 / CPI in 2004)
(103 / 100 )= 0.03 = 3%
To learn more about, consumer price index, please check: https://brainly.com/question/26382640
Emily works for a small company, where she is the only employee who
handles payroll. What is the best option for the company to ensure that Emily
does not commit payroll fraud?
A. The company should have a different employee handle payroll.
B. The company should conduct an extensive background check.
C. The company should make sure that Emily's office and computer
are monitored.
D. The company should have an outside source review the payroll.
The best option for the company to ensure that Emily does not commit payroll fraud is that the company should have an outside source review the payroll.
What is a payroll fraud?This type of fraud is related to theft of cash from a business via the payroll processing system.
Hence, having an outside source review the payroll to crosscheck the payroll before any payment is made.
Therefore, the Option C is correct.
Read more about payroll fraud
brainly.com/question/26560901
Assume that the pricing manager discovered that more seats went unsold for tuesday night games than for any other night of the week, indicating a lower demand for soccer tickets on tuesdays. The la galaxy could lower the ticket price for future tuesday night games to avoid:.
The la galaxy could lower the ticket price for future tuesday night games to avoid idle production capacity.
What is idle production capacity?
Idle production capacity occurs when the supply of an item exceeds its demand. As a result, there would be a surplus of supply and some of the products would not be utilised by consumers.
To reduce idle production capacity, prices can be reduced. This is because price is inversely related to quantiy demanded.
To learn more about surplus, please check: https://brainly.com/question/12110173
Which of these would Congress look to do during a recession, as it pertains to fiscal policy?
a. Raise taxes
b. Raise government spending
c. Decrease the discount rate
d. Print more money
Answer:
I believe the answer would be A
the amswer is a raise money
8.1. In the article the author confirms that a reduction of the budget deficit is imperative. Briefly discuss the possible methods of achieving this objective which are mentioned by the author as part of his thoughts. (3) 8.2. What is the main conclusion in terms of where to from hereby the author in this article? (3)
The method of achieving the reduction in the budget deficit is to simply reduce expenses and increase tax.
What is a budget deficit?It should be noted that budget deficit simply means when the expenses is more than the revenue.
In this case, the method of achieving the reduction in the budget deficit is to simply reduce expenses and increase tax. This is needed to improve the budget.
Learn more about budget on:
https://brainly.com/question/6663636
It Isn't necessary to consider convenlence Issues when selecting a bank.
O True
O False
Tali has recently joined a sports center as a service assistant. She's asked to set up a phone conference with several people she hasn't met yet. How should Tali begin the meeting to show that she understands professional conduct? O A. She should start off with a joke or a funny story. OB. She should talk about the most recent activities of the sports center. OC. She should introduce herself and explain the purpose of her call. OD. She should ask each person on the call to do a self-introduction.
Answer:
C -- She should introduce herself and explain the purpose of her call.
Explanation:
It is most professional to introduce herself this way. Also, Tali wants to show that she understands professional conduct.
Hope this helps! Please let me know if you need more help or think my answer is incorrect. Brainliest would be MUCH appreciated. Have a wonderful day!
What does it mean when earned value is above planned value?
Answer:
If the Earned Value is less than the Planned Value, you are behind schedule, and if the Earned Value is greater than the Planned Value, you are ahead of schedule. The Earned Value can be compared to the Actual Cost (AC) to determine whether you are above or below budget. An Example from Capital Project Management
Explanation:
Answer: more work has been completed than planed, and the task or project is ahead of schedule.
Explanation:
For the lower costs than planed you are ahead of schedule
Petropoulos Resorts common stock sells for $58.49 per share and pays an annual dividend that increases by 1.3 percent annually. The market rate of return on this stock is 12.6 percent. What is the amount of the last dividend paid
Assuming the market rate of return on this stock is 12.6 percent, the amount of the last dividend paid is $6.52.
DividendUsing this formula
PO=D0(1+g)/k-g
Let plug in the formula
$58.49 = D0× (1 + 0.013) ÷ (0.126 - 0.013)
$58.49 × 0.113 = D0 × (1 + 0.013)
6.60937=D0 × (1 + 0.013)
D0=6.60937/1.013
D0=$6.52
Inconclusion assuming the market rate of return on this stock is 12.6 percent, the amount of the last dividend paid is $6.52.
Learn more about dividend here:https://brainly.com/question/14243512
Sara enters into a contract to sell her vacation condo to Ted for a certain price on a specific day. On that day, Sara unconditionally offers to perform. Sara’s offer
The fact that Sara unconditionally offered to perform according to the contract that she entered into with Ted b. constitutes tender of performance.
What is a tender of performance?A Tender of Performance is the requirement that a person ought to do as a result of them being in a contract, or the law ordering them to do so.
Sara performed her side of the contract which means that she performed her tender of performance according to the terms of the contract with Ted.
Options for this question include:
a. conditions Ted's promise to pay for the property.
b. constitutes tender of performance.
c. excuses the parties' performance under the contract.
d. suspends the parties' contractual obligations.
Find out more on Contracts at https://brainly.com/question/25789642.
The economic inefficiencies of monopolistic competition may be offset by the fact that:.
The economic inefficiencies of monopolistic competition may be offset by the fact that consumers have variations of the product from which to choose from.
What is monopolistic competition?This is a type of market competition that exists given that there are a number of producers that are in competition against each other.
In this type of competition, the products that are selling are not perfect substitutes. Theyu are differentiated from each other.
Read more on monopolistic competition here: https://brainly.com/question/24877850
What is meant by accounting
Answer:
accounting is a process of analysis and summarising business and financial transactions and verifying the reporting the results...
follow me
why do the regular meetings between a portfolio manager and his or her team of analysts take place in what is sometimes called "the war room"?
Important meetings between a portfolio manager and his or her team of analysts take place in what is sometimes called "the war room" because that is where business strategies are discussed and formulated.
What is Business Strategy?This refers to the set plans and actions that a business takes in order to get ahead of its competition and maximize profit.
With this in mind, the strategy room is called a war room because business is effectively war, especially in a capitalist system and the portfolio manager meets with his team of analysts in order to discuss business strategies.
Read more about business strategy here:
https://brainly.com/question/24967768
Microsoft receives a cash payment in advance for cloud services is an example of
a. prepaid expense
b. accrued revenue
c. unearned revenue
d. accrued expense
On December 31st a calendar year corporation
owes employees unpaid payroll
a. prepaid expense
b. accrued revenue
c. unearned revenue
d. accrued expense
"Davcher, Inc. is considering a project for next year, which will cost $5 million. Davcher plans to use the following combination of debt and equity to finance the investment. Issue $1.5 million of 10-year bonds at a price of 101, with a coupon/contract rate of 4%, and flotation costs of 2% of par. Use $3.5 million of funds generated from retained earnings. The equity market is expected to earn 8%. U.S. Treasury bonds are currently yielding 3%. The beta coefficient for Davcher, Inc. is estimated to be .70. Davcher is subject to an effective corporate income tax rate of 30 percent. (8 points) " Compute Davcher's expected rate of return using the Capital Asset Pricing Model (CAPM).
Based on the U.S. Treasury bond rate, the market return and the beta, Davcher's expected rate of return would be 6.5%.
What is the expected rate of return?Using the Capital Asset Pricing Model (CAPM), the expected rate of return would be:
= Risk free rate + Beta x Market premium
Market premium:
= Market return - risk free rate
= 8% - 3% rate of treasury bonds
= 5%
Expected rate of return is:
= 3% + 0.70 x 5%
= 6.5%
Find out more on the Capital Asset Pricing Model at https://brainly.com/question/15851284.
The manager of operations at Beta Industries, has decided to change careers. For years, the company has been a market leader in manufacturing DVD players, but sales—and the manager’s advancement opportunities—have been declining for years. He told his wife, "Recent __________ have allowed smartphones and streaming to emerge as substitutes for DVD players. That's reality, and I need to face it."
The manager of operations at Beta Industries most likely told his wife that smartphones and streaming became substitutes thanks to advances in technology.
Why are smartphones and streaming now considered substitutes?As a result of technological advances which continually strive to improve on what is already there, there have been newer technological devices.
Smartphones and streaming services are examples of some of these advances and they have emerged as strong substitutes to DVD players which are not as mobile.
Find out more on technological advances at https://brainly.com/question/2166344.
Ely Roofing Contractors enters into a lease for the use of new equipment. The term of the lease is three years. The annual lease amount is $6,000. The present value of the lease payments is $50,000. Ely Roofing estimates the economic life of the equipment to be five years. The lease is considered a finance lease. The journal entry to record the initial transaction will include a
The journal entry to record the initial transaction (Right of Use Asset and Lease Liability of $50,000) for Ely Roofing Contractors, who enters into a lease for the use of new equipment for 3 years at an annual lease payment of $6,000 is as follows:
Journal Entry:Debit Right of Use Asset $50,000
Credit Lease Liability $50,000
To record the initial transaction of the Lease Liability and the Right of Use Asset.How to record the initial lease transactions?The present value of annual lease payments is first computed.
With this figure, the recording of the asset and liability is completed by debiting the Right of Use Asset and crediting the Lease Liability account.
Data and Calculations:Annual lease payment = $6,000
Present value of lease payments = $50,000
Economic life of the equipment = 5 years
Lease term = 3 years
Nature of lease = finance lease
Initial Transaction Analysis:Right of Use Asset $50,000 Lease Liability $50,000
Learn more about recording the initial transaction of a finance lease at https://brainly.com/question/16646812
Ethics
AP6-5 Horizon Corporation manufactures personal computers. The company began operations in 2012 and reported
profits for the years 2012 through 2019. Due primarily to increased competition and price slashing in the industry,
2020's income statement reported a loss of $20 million. Just before the end of the 2021 fiscal year, a memo from the
company's chief financial officer (CFO) to Jim Fielding, the company controller, included the following comments:
If we don't do something about the large amount of unsold computers already manufactured, our auditors will require us to
record a write down. The resulting loss for 2021 will cause a violation of our debt covenants and force the company into
bankruptcy. I suggest that you ship half of our inventory to J.B. Sales, Inc., in Oklahoma City. I know the company's
president, and he will accept the inventory and acknowledge the shipment as a purchase. We can record the sale in 2021
which will boost our loss to a profit. Then J.B. Sales will simply return the inventory in 2022 after the financial statements
have been issued
Required:
1. Understand the reporting effect: What is the effect on income before taxes of the sales transaction requested by the
CFO?
2. Specify the options: If Jim does not record the sales transaction requested by the CFO, what is the effect on total
assets and income before taxes of the inventory write-down?
3. Identify the impact: Are investors and creditors potentially harmed by the CFO's suggestion?
4. Make a decision: Should Jim follow the CFO's suggestion?
Based on the effects of what the CFO suggests, the effect on the income before taxes will be an increase.
If Jim does not do what the CFO requests of him, the total assets will increase and the income before taxes will decrease.
The investors and the creditors will be harmed by the CFO's suggestion.
As regards what he should do, Jim should not follow the CFO's suggestion.
What are the effects of the CFO's suggestion?If Jim does what the CFO suggests then income will increase on account of the fake sales increasing the revenue the company gets.
If Jim refuses to do what the CFO suggests, then the computers will remain in inventory which will increase assets as inventory is an asset. Income will however decrease because sales will be less.
Jim should not do what the CFO suggests because it would harm investors who would remain invested in a loss making company that could implode anytime. Same goes for the creditors.
Find out more on bankruptcy at https://brainly.com/question/26392690.
Which of the following is NOT a common way businesses pay employees?
Answer:
yearly
Explanation:
Hope this helps:)...if not then sorry for wasting your time and may God bless you:)
A university’s marketing department typically purchases backpacks with its logo embroidered on them for all incoming freshmen. This year, because faculty have heard complaints, the marketing chair wants to buy similar backpacks but find one that is a little more durable. This is an example of a
A) new buy.
B) make-buy.
C) straight rebuy.
D) standard reorder.
E) modified rebuy.
b) Outline any five factors that an entrepreneur should put into consideration when starting a business.
Consider the need your company meets. Perhaps your product can accelerate a problem or process, prevent a loss, or provide a service that your community needs. Your location may also be important if you can provide services like good food, laundry, or repair to a neighborhood that lacks them.
2) Business StructureConsider whether you will work with others or alone. If you intend to collaborate with others, ascertain what type of business structure best suits your needs. People who want to share decision equally-making and risk should form a partnership. Investors in a corporation or limited partnership have little or no control over business operations.
3) Supplies and sourcingConsider the tools and stuff you will need. Consider your needs for manufacturing and purchasing. A store might need displays, decorations, and a way to pay, while a restaurant needs cooking tools and special storage. Add raw materials and packaging to your list. Your business may require specific phones, computers, or fax machines. If you are going to be away from home, think about how you will get there and what tools you will need.
Consider whether you value local or organic sourcing, vegan processing, or no animal testing in your purchasing decisions. If possible, test or inspect materials before purchasing. Trade shows and free samples may be offered by some suppliers before a purchase is made.
4) LocationThink about where you would like to start your company. When shipping or providing a service, you may be able to operate your business from home. For a storefront, think about how much rent you can afford and how appealing the place is to people. Consider material storage, large equipment, and convenient delivery or shipping locations.
5) MarketingConsider the various ways in which you can spread the word about your venture. Your target market may help you decide where to advertise. An experienced marketing consultant can help you create a comprehensive marketing strategy for your business.
I hope this helps you
:)