g 447,000 397,000 397,000 317,000 79,250 $2,333,000 $1,510,000 $1,361,500 $1,395,500 $715,750 3. Each contract is with a different customer. 4. Any work remaining to be done on the contracts is expected to be completed in 2022. Compute the amount of income (or loss) before selling, general, and administrative expenses for the year ended December 31, 2021, which would be reported under:
Answer:
$225,000 income
Explanation:
The company is using percentage of completion technique for the valuation of construction contracts. It expects the revenue of $1,725,000 for a three year contract whose services are to be delivered every year. The company should record its revenue every year whose services are delivered at the end of the year. The company will only record its revenue as unearned revenue at the start of the year.
Tim Urban, owner/manager of Urban's Motor Court in Key West, is considering outsourcing the daily room cleanup for his motel to Duffy's Maid Service. Tim rents an average of 50 rooms for each of 365 nights (365 times 50 equals the total rooms rented for the year). Tim's cost to clean a room is $12.50. The Duffy's Maid Service quote is $18.50 per room plus a fixed cost of $25, 000 for sundry items such as uniforms with the motel's name. Tim's annual fixed cost for space, equipment, and supplies is $61, 000. Based on the given information related to costs for each of the options, the crossover point for Tim = _________room nights (round your response to the nearest whole number). If the number of room nights is less than the crossover point, then_________ is the best option available to Tim. Based on the given room nights that Tim expects to rent (18, 250), the best option is to___________
Answer:
Based on the given information related to costs for each of the options, the crossover point for Tim = 6,000 room nights (round your response to the nearest whole number). If the number of room nights is less than the crossover point, then OUTSOURCING (Duffy's Maid Service) is the best option available to Tim. Based on the given room nights that Tim expects to rent (18, 250), the best option is to keep doing the service INSOURCING (doing it himself).
Explanation:
Currently, before outsourcing, Tim's total cost = $228,125 + $61,000 = $289,125. On average, he spends $15.84247 per room.
The Duffy's Maid Service offer would represent a total cost of $337,625 + $25,000 = $362,625 for the same occupation level.
the crossover point for Tim:
12.5x + 61,000 = 18.5x + 25,000
36,000 = 6x
x = 6,000 room nights
(6,000 x 12.50) + 61,000 = (6,000 x 18.50) + 25,000 = $136,000
QUESTION 4. Consider the following game. Player 1’s payoffs are listed first, in bold: Player 2 X Y Player 1 U 100 , 6 800 , 4 M 0 , 0 200 , 1 D 10 , 20 20 , 20 a. Imagine that Player 1 makes a decision first and Player 2 makes a decision after observing Player 1’s choice. Write down every subgame-perfect Nash equilibrium of this game. b. Does the outcome above differ from the Nash equilibrium (if the game were played simultaneously)? Carefully explain why, intuitively, the result differs or does not differ.
Answer:
attached below is remaining part of the detailed solution
A) SPNE = ( M,Y )
B) PSNE = ( U,Y )
Explanation:
A) write down every subgame-perfect Nash equilibrium of the game
attached below
The second player can observe the first player's choice before making his own choice and the first player will always play M knowing that the second player will observe him, also the second player will play Y
Therefor the SPNE of the game will be : ( M,Y )
B) If the game were played simultaneously the results will be different and this is because the second player doesn't have the information of what the first player played
Therefore the PSNE of the game will be : ( U,Y )
Med Max buys surgical supplies from a variety of manufacturers and then resells and delivers these supplies to dozens of hospitals. In the face of declining profits, Med Max decided to implement an activity-based costing system to improve its understanding of the costs incurred to serve each hospital. The company broke its selling and administrative expenses into four activities as shown below: Activity Cost Pool Activity Measure Total Cost Total ActivityCustomer deliveries Number of deliveries $ 361,900 4,700Manual order processing Number of manual orders 266,400 3700 Electronic order processing Number of electronic orders 191,540 12200 Line item picking Number of line items picked 518,000 370000 Total selling and administrative expenses $ 1,337,840 Med Max gathered the data below for two of the many hospitals that it servesâCity General and County General: Activity Activity Measure City General County GeneralNumber of deliveries 15 30Number of manual orders 0 60 Number of electronic orders 20 0 Number of line items picked 130 290 Required: 1. Compute the activity rate for each activity cost pool. 2. Compute the total activity costs that would be assigned to City General and County General.
Answer:
Results are below.
Explanation:
First, we need to calculate the predetermined overhead rate for each activity:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Customer deliveries= 361,900/4,700= $77 per delivery
Manual order processing= 266,400/3,700= $72 per manual order
Electronic order processing= 191,540/12,200= $15.7 per electronic order
Line item picking= 518,000/370,000= $1.4 per line item picked
Now, we can allocate costs to each hospital:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
City general:
Customer deliveries= 77*15= 1,155
Electronic order processing= 15.7*20= 314
Line item picking= 1.4*130= 182
Total costs= $1,651
County General:
Customer deliveries= 77*30= 2,310
Manual order processing= 72*60= 4,320
Line item picking= 1.4*290= 406
Total costs= $7,036
Update the balance sheet above to reflect the transactions below, which occur on January 6, 2020 1. Issue $80,000 in stock 2. Borrow $65,000 from a bank 3. Receive payment of $12,000 owed by a customer 4. Pay $6,000 owed to a supplier 5. Buy $17,000 worth of manufacturing supplies on credit 6. Purchase equipment for $47,000 in cash 7. Pay $8,000 owed to a supplier What is the final amount in Cash?
Answer:
Ending cash balance = $14,196,000
Explanation:
Full question is as follow "Acme Company Balance Sheet As of January 5, 2018 (amounts in thousands) Cash 14,100 Accounts Payable 1,900 Accounts Receivable 3,200 Debt 3,600 Inventory 4,900 Other Liabilities 2,000 Property Plant & Equipment 16,300 Total Liabilities 7,500 Other Assets 500 Paid-In Capital 7,200 Retained Earnings 24,300 Total Equity 31,500 Total Assets 39,000 Total Liabilities & Equity 39,000 Update the balance sheet above to reflect the transactions below, which occur on January 6, 2018 1. Issue $80,000 in stock 2. Borrow $65,000 from a bank 3. Receive payment of $12,000 owed by a customer 4. Pay $6,000 owed to a supplier 5. Buy $17,000 worth of manufacturing supplies on credit 6. Purchase equipment for $47,000 in cash 7. Pay $8,000 owed to a supplier What is the final amount in Cash?"
Calculation of final amount in cash
Particulars Amount
Beginning cash balance $14,100
Add: 1. Cash received through the issue of stock $80
Add: 2. Cash received from the bank $65
Add: 3. Cash received from the customer $12
Less: 4. Cash paid to the supplier $6
Less: 6. Cash paid to purchase equipment $47
Less: 7. Cash paid to the supplier $8
Ending cash balance (final amount in cash) $14,196
Stage 1 ABC at a College: Assigning Costs to Activities
An economics professor at Prince Town University devotes 50 percent of her time to teaching, 35 percent of her time to research and writing, and 15 percent of her time to service activities such as committee work and student advising. The professor teaches two semesters per year. During each semester, she teaches one section of an introductory economics course (with a maximum enrollment of 50 students) and one section of a graduate economics course (with a maximum enrollment of 30 students). Including course preparation, classroom instruction, and appointments with students, each course requires an equal amount of time. The economics professor is paid $165,000 per year.
Determine the activity cost of instruction per student in both the introductory and the graduate economics courses.
Round answers to two decimal places.
Answer:
ABC at a College: Assigning Costs to Activities
Prince Town University
The Activity cost of instruction per student:
Introductory Economics = $13,750/50 = $275 per year and $137.50 per semester
Graduate Economics = $13,750/30 = $458.33 per year and $229.17 per semester
Explanation:
a) Data and Calculations:
50% teaching
35% research and writing
15% service activities (committee work and student advising)
Students in Introductory Economics = 50 per semester 100 per annum
Students in Graduate Economics = 30 per semester and 60 per annum
Total number of students taught per year = 160
Salary per year = $165,000
Teaching consumes $82,500 ($165,000 * 50%)
Instruction consumes $27,500 ($82,500/3)
Introductory Economics consume $13,750 ($27,500/2)
Graduate Economics consume $13,750 ($27,500/2)
The Activity cost of instruction per student:
Introductory Economics = $13,750/50 = $275 per year and $137.50 per semester
Graduate Economics = $13,750/30 = $458.33 per year and $229.17 per semester
Remember that some of the messages you send will be passed along to other people. Thus, you may have to consider a secondary audience as well as a primary one. Read the following scenario, and answer the question. You just wrote the following message to your supervisor regarding an incident of possible industrial espionage you witnessed. Dear Mr. Helmsley, We have a problem. The other day I saw one of my coworkers loading boxes into the trunk of her car. I offered to help because I thought she was taking work home. The lid slipped off one of the boxes, and I realized it was full of photocopied plans from our latest prototype. Sheâs not on the development team, so thereâs no reason she should have these documents. Iâm not sure what, if anything, I should do about this. Before sending the message, it occurs to you that your e-mail will probably be forwarded to the legal team. What will you need to change to make the message appropriate for both your supervisor and the legal team?
Answer:
I Will have to give more specific information including dates and names
Explanation:
This message is going to be sent to the supervisor and also the legal team. So it is very necessary that more specific details are provided concerning the circumstances I witnesses. It would be good to provide Dates, names and Even possible conversations that occurred. This will be a form of evidence and with the information I have given, there may be further investigations and the supervisor may decide to take further and necessary action.
You discover the engine-oil additive your scientists developed three years ago makes a great men’s after-shave once diluted properly using certain chemicals. How should you treat the original $125,000 of R&D expenditures that went into developing the engine-oil additive for your present decision regarding whether or not to begin production of the after-shave? a. Treat it as a cash outflow three years ago for the current project; that is, find the future value today of the $125,000 spent three years ago.
Answer: e. As a sunk cost since the R&D expenditure has no bearing on today's investment decision.
Explanation:
Sunk Costs are not to be factored in when making decisions because they have already been incurred and cannot be recovered.
This R&D expense should therefore be treated as a sunk cost because it has already been incurred and expensed and does not contribute to the decision today to embark on the men's after-shave venture.
What internal dimensions of the company were part of the problems that
occurred?
2. Which aspect of professionalism do you feel that you are strongest at? Explain why you think so. (1-3 sentences. 2.0 points)
Answer:
I feel like my strongest aspect of professionalism would be communication. My career interests require lots of communication with customers. I would need to be able to communicate with the customer’s feelings and needs for whichever situation they are in and what they want to accomplish.
Explanation:
Assume that on September 1, Office Depot had an inventory that included a variety of calculators. The company uses a perpetual inventory system. During September, these transactions occurred. Sept. 6 Purchased calculators from Dragoo Co. at a total cost of $1,800, terms n/30. 9 Paid freight of $50 on calculators purchased from Dragoo Co. 10 Returned calculators to Dragoo Co. for $51 credit because they did not meet specifications. 12 Sold calculators costing $460 for $670 to Fryer Book Store, terms n/30. 14 Granted credit of $40 to Fryer Book Store for the return of one calculator that was not ordered. The calculator cost $28. 20 Sold calculators costing $560 for $780 to Heasley Card Shop, terms n/30.
Journalize the September transactions. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)
Answer and Explanation:
The journal entries are shown below:
1. Inventory $1,800
Accounts Payable $1,800
(Being purchased on account)
2. Inventory $50
To Cash $50
(being freight paid)
3. Accounts Payable $51
To Inventory $51
(being the returned calculator is recorded)
4. Accounts Receivable $670
To Sales Revenues $670
(Being sales is recorded)
5. Cost of Goods Sold $460
To Inventory $460
(Being cost of goods sold is recorded)
6. Sales returns $40
To Accounts Receivable $40
(being sales return is recorded)
7. Inventory $28.20
To Cost of Goods Sold $28.20
(Being cost return is recorded)
8. Accounts Receivable $780
To Sales Revenues $780
(Being the sales is recorded)
9. Cost of Goods Sold $560
To Inventory $560
(Being the cost of goods sold is recorded)
Which of the following are benefits of private student loans?
-Can get a better rate with a parent co-signing the Lon
-Applications and processing time is very short, which means students get money faster
-Loans can be larger to cover the actual cost of attendance
-Borrowers can receive additional discounts such as good discount for good grades
-All the above
Answer:
Try all of the above. I hope this helped!
Big Foot produces sports socks. The company has fixed expenses of $80,000 and variable expenses of $0.80 per package. Each package sells for $1.60. The number of packages Big Foot needed to sell to earn a $24,000 operating income was 130,000 packages. If Big Foot can decrease its variable costs to $0.70 per package by increasing its fixed costs to $95,000, how many packages will it have to sell to generate $24,000 of operating income? Is this more or less than before? Why? Begin by identifying the formula to compute the sales in units at various levels of operating income using the contribution margin approach. ( Fixed expenses + Operating income ) ÷ Contribution margin per unit = Sales in units (Round your answer up to the nearest whole unit.) Big Foot will have to sell packages to generate $24,000 of operating income.
Answer:
1. Big Foot will have to sell 132,222 packages to generate $24,000 of operating income
2. The News Sales in units of 132,222 packages is greater than 130,000 packages it had before by 2,222 packages.
3. The reason is that fixed expenses of $80,000 it had before is lower than the New Fixed expenses of $95,000, and also because variable expenses of $0.80 per package it had before is higher than the new variable expenses per package of $0.70.
Explanation:
From the question, we have:
New Fixed expenses = $95,000
New variable expenses per package = $0.70
New operating income to generate = $24,000
Selling price per package = $1.60
New contribution margin per package = Selling price per package - New variable expenses per package = $1.60 - $0.70 = $0.9
News Sales in units = (New Fixed expenses + New Operating income ) / New contribution margin per package ....................(1)
Substituting relevant values into equation (1), we have:
News Sales in units = ($95,000 + $24,000 ) / $0.9 = $119,000 / $0.9 = 132,222 packages
Therefore, we have:
1. Big Foot will have to sell 132,222 packages to generate $24,000 of operating income
2. The News Sales in units of 132,222 packages is greater than 130,000 packages it had before by 2,222 packages.
3. The raason is that fixed expenses of $80,000 it had before is lower than the New Fixed expenses of $95,000, and also because and variable expenses of $0.80 per package it had before is higher than the new variable expenses per package of $0.70.
Which of the following statements is true? Group of answer choices The production function shows the trade-off between producing different kinds of outputs. The short-run production function includes both fixed and variable inputs. The short-run production function includes both fixed and variable costs. The production function shows the trade-off in inputs that produce the same amount of output. An inefficient firm is unable to achieve as much output as the production function shows.
Answer: An inefficient firm is unable to achieve as much output as the production function shows.
Explanation:
The Production function shows the maximum amount of output that can be produced by a company given the a certain number of inputs which are usually capital and labor.
At each combination of the input therefore, the function shows how much a company should be able to produce. If a company is therefore inefficient and unable to use its inputs effectively, it will be unable to produce at the point it is to be producing at given the combination of inputs they are using.
Identify at least five different careers within the Business, Management, and Administration and Finance career clusters that you could pursue in your home state, and choose the three that appeal to you the most. Of the three, write a one-page essay describing which one would be your career choice and the educational pathway that you would have to follow in order to obtain that career. Finally, identify at least three colleges, universities, or training programs that are suited to that career choice. You can use the following resources to help you
Answer:
Five careers within the Business, Management, and Administration or Finance clusters that would be interesting to me are treasurer, underwriter, debt counselor, corporate trainer, and public relations specialist. Of those careers, the three that I think would be best suited to my skills and interests are underwriter, corporate trainer, and public relations specialist.
As a public relations specialist, I would work to create positive relationships with the media, community leaders, special interest groups, and others to help boost the image of the company for which I work. I would write press releases, speeches, and other documents as the liaison to the media. As such, it would be important for me to have excellent writing, time management, public speaking, and interpersonal skills. Because the median salary is $55,680 with an average increase in employment from 2012–2022, it could be a great starting-off point that would allow me to get into the field of public relations.
To become a public relations specialist, I would need to start by getting a bachelor’s degree in public relations. Three schools that I would consider attending to get my degree are the University of Southern California–Los Angeles, University of Texas–Austin, and the University of Tennessee. Each of these schools has established programs that offer hands-on experience in the public relations field. They also offer master’s programs in communications, so I could work toward a master’s degree, as well.
Explanation:
Answer:
Of all the jobs within the Agriculture, Food, and Natural Resources and Energy clusters, I think that the following would be the most interesting for me: seismic technician, food scientist, nursery manager, weatherization manager, and zoologist. Of these career options, I think zoologist, food scientist, and nursery manager are the ones that I would consider pursuing. I would truly enjoy being a nursery manager.
I’ve always considered myself to be someone with a “green thumb.” I enjoy gardening, so I think I would love to make a career out of working in a greenhouse with various plants. I would need to learn about the various plants in the nursery: how to care for them, how to identify when they have a disease or pest, and how to treat problems that arise. As the manager, I would also need to supervise the people working in the nursery.
Some of the skills that will help me find success as a nursery manager are creativity and excellent communication, teamwork, leadership, and problem-solving skills. I would also need to complete on-the-job training and an apprenticeship. I think it would be great to get a job working in a nursery while in high school, so I can start training while I’m still in school. It would give me an opportunity to learn from someone with experience in the field.
Although many nursery-related careers require only a certification or on-the-job training, a manager can benefit from getting a bachelor’s degree in horticulture science. Some of the best programs for horticulture science are through Washington State University, University of Florida, or Cornell University. After completing the program, I would hope to open my own nursery where I could sell plants to homeowners, landscapers, or commercial industries.
Explanation:
As an amputee herself, Morgan works in a lab experimenting with new technology that can allow a prosthetic to be attached to living cells. The Health Science career pathway Morgan works in is _____.
Support Services
Biotechnology Research and Development
Health Informatics
Diagnostic Services
Answer:
Biotech R&D
Explanation:
My mom does that
Raby, Inc. acquires all of the outstanding stock of Fletcher Corporation on January 1, 2017. At that date, Fletcher owns only three assets and has no liabilities: Book Fair Value Value Land $ 40,000 $ 50,000 Equipment (10-year life) 80,000 75,000 Building (20-year life) 200,000 300,000 24. If Raby pays $450,000 in cash for Fletcher, what amount would be represented as the subsidiary’s Building in a consolidation at December 31, 2019, assuming the book value of the building at that date is still $200,000? A. $200,000. B. $295,000. C. $290,000. D. $285,000.
Answer:
D. $285,000
Explanation:
When a company is acquired by another company, the parent company (the new owner) must report the assets at fair market value - amortization.
FV = $300,000
amortizable value = $100,000
depreciation for 3 years (2017, 2018 and 2019) = ($100,000 / 20) x 3 = 415,000
reported value = $300,000 - $15,000 = $285,000
In risk management, what does risk evaluation involve?
A risk management planning
B. risk resolution
C.l risk priorization
D. risk monitoring
Answer:
A- risk management planning
Explanation:
This is because risk assessment is a term used to describe the overall process or method where you: Identify hazards and risk factors that have the potential to cause harm (hazard identification). Analyze and evaluate the risk associated with that hazard (risk analysis, and risk evaluation)
In risk management, risk prioritizing management planning will be required. Thus, option C is correct.
What is the risk?For the purposes of health as well as environmental regulations, the risk is widely taken into consideration. It is an event occurring and the seriousness of its effect may lead to disagreement.
In the process of risk management, it is very necessary that risk is mentioned is addressed first. This will help to make sure that the things or the task that are required immediate attention will be given first.
This will help in a magazine went as well as this planning will make sure that business or the organization is done smoothly. As the serious ones are the ones that need to be addressed first. Therefore, option C is correct.
Learn more about risk, here:
https://brainly.com/question/17284407
#SPJ2
The ethical dilemma in the Getaway Cruise Lines case can best be described as: The external auditors are being blocked by the client in attempting to verify accounting treatment of surplus electricity and water provided by the client to the local government The external auditors question the requirement to make facilitating payments to the local authorities The Director of International Accounting questions the requirement to provide surplus electricity and water to the local government The Director of International Accounting questions the requirement to provide surplus electricity and water and make facilitating payments to the local authorities
Answer:
The Getaway Cruise Lines
The ethical dilemma in the Getaway Cruise Lines case can best be described as:
The Director of International Accounting questions the requirement to provide surplus electricity and water and make facilitating payments to the local authorities
Explanation:
Kirsten as the Director of International Accounting faces an ethical dilemma or with the difficult choice of assuaging the demands of the Brazilian authorities or complying with her company's high ethical standards, including the issue of foreign bribes in the US.
For example, an ethical dilemma or moral judgement call is required when Kirsten is faced with the difficult choice of two courses of action, either of which entails transgressing a moral principle.
erdue Company purchased equipment on April 1 for $36,180. The equipment was expected to have a useful life of three years, or 7,020 operating hours, and a residual value of $1,080. The equipment was used for 1,300 hours during Year 1, 2,500 hours in Year 2, 2,100 hours in Year 3, and 1,120 hours in Year 4. Required: Determine the amount of depreciation expense for the years ended December 31, Year 1, Year 2, Year 3, and Year 4, by (a) the straight-line method, (b) units-of-activity method, and (c) the double-declining-balance method. Note: FOR DECLINING BALANCE ONLY, round the multiplier to four decimal places. Then round the answer for each year to the nearest whole dollar. a. Straight-line method
Answer:
Perdue Company
Depreciation expense for the years ended December 31:
Year 1 Year 2 Year 3 Year 4
a) Straight-line method $11,700 $11,700 $11,700 $0
b) Units-of-activity method $6,500 $12,500 $10,500 $5,600
($5 x 1,300) ($5 x 2,500) ($5 x 2,100) ($5 x 1,120)
c) Double-declining method $24,121 $8,040 $2,939 $0
1st year = $36,180 * 0.6667 = $24,121
2nd year = $12,059 * 0.6667 = $8,040
3rd year = ($36,180 - 24,151 - 8,040 - 1,080) = $2,939
Explanation:
a) Data and Calculations:
April 1 Purchased Equipment = $36,180
Useful life = 3 years or 7,020 operating hours
Residual value = $1,080
Depreciable amount = $35,100
Under Straight-line method, depreciation rate per annum = $11,700 ($35,100/3).
Under the units-of-activity method, the depreciation rate per hour = $5 ($35,100/7,020).
Under the double-declining method, the depreciation percent = 0.6667 (100/3) * 2.
The double-declining method does not consider the residual value at the beginning, but at the end of the computation.
Select the correct answer from each drop-down menu.
As a sales executive at a large corporation, Sonya earns____
the company's finance department as an accountant, earns
for every big sale she makes. Jessica, who works full time in the company’s finance department as an accountant, earns ____
1. a) a bonus
b) a commission
c) hourly pay
2. a)a bonus
b)a commission
c) a fixed salary
The Answer of First question is option B "a Commission", and answer for second question is option C "A Fixed Salary".
Types of EarningIn a Corporate and private sector, there are many different kinds of earning, such as a fixed salary, a commission or a bonus depends upon the job a person has.
In the First question Sonya is a sales executive, and we know sales is a commission based job, hence the correct option would be A Commission. A bonus is given for completing overall job target.
In the second question, Jessica who works full time as an Accountant which means her job is based on a fixed salary rather than a commission because she is providing professional service to the company. Hence the correct option would be Option C Fixed Salary.
Learn more about Professional Service here:
https://brainly.com/question/4884763
A restaurant manager wanted to get a better understanding of the tips her employees earn, so she decided to record the number of patrons her restaurant receives over the course of a week, as well as how many of those patrons left tips of at least 15%. The data she collected is in the table below.
Day Mon. Tue. Wed Thu. Fri Sat Sun.
Patrons 126 106 103 126 153 165 137
Tippers 82 87 93 68 91 83 64
Which day of the week has the lowest experimental probability of patrons tipping at least 15%?
a. Sunday
b. Saturday
c. Friday
d. Thursday
Answer:
a. Sunday
Explanation:
Probability ranges from 0-1. 0 being the least chance and one being completely sure.
The probability of receiving a tip of at least 15% for the different days is as follows
Monday : 82/126 = 0.65
Tuesday: 87/106= 0.82
Wednesday: 93/103= 0.90
Thursday : 68/126 = 0.54
Friday :91/153= 0.59
Saturday: 83/156 = 0.53
Sunday: 64/137= 0.46
The day with the lowest probability is Sunday.
Answer:
A. Sunday
Explanation:
I got it right on edge :)
explain the characteristics strengths, weaknesses of quantitative
hope it helps...
PLEASE MARK AS BRAINLIEST
Christie temporarily lends her car to her friend, Matt. Subsequently, Matt is involved in an accident while driving Christie’s car. Matt and Christie have personal auto insurance policies with liability insurance limits of $200,000 and $50,000, respectively. The courts awarded a liability judgement of $80,000 against Matt. How much will each insurance policy pay? A. Matt's insurance is primary and will cover the entire $80,000. B. Christie's insurance is primary and will cover $50,000. Mark's insurance is excess and will cover the remaining $30,000. C. The policies will split the losses on a pro-rata basis, with Matt's and Christie's insurers covering $64,000 and $16,000, respectively. D. Each policy will pay $40,000.
Answer:
The correct approach will be Option A.
Explanation:
Liability insurance on something like a subjective insurance plan implements the driver no matter with whom the automobile would be conducted, actually given it's an allowed to sign up the vehicle. Liability insurance safeguards insurance premiums whenever an automobile controlled by somebody else is operated either by the insured. They would also normally be compensated according to their car insurance policies in a somewhat circumstance.Besides, the compensation he maintains through his automobile is liability coverage for such a covered by insurance operating everyone else's vehicle. In many of these instances, even before driving on a highway, he doesn't own the subjective coverage could very well be implemented by the driver. Throughout the scenario mentioned, Matt was indeed killed in an accident whilst also trying to drive his friend's Christie vehicle. Hence, Matt's homeowner's insurance liability coverage would then kick through first. The gross amount of liabilities is $80,000, according to the verdict. The personal injury allowance of Matt becomes limited to $200,000, adequate to be insured.The latter choice does not fit the instance in question. So, "A. Matt's premium is primary and therefore will cover the full $80,000," is the right response.
One of the most important applications of ratio analysis is to compare a company’s performance with that of other players in the industry or to compare its own performance over a period of time. Such analyses are referred to as a comparative analysis and trend analysis, respectively. A common size analysis requires the representation of financial statement data relative to a single financial statement item (or base account or value). What is the most commonly used base item for a common size balance sheet? Net income Earnings before interest and taxes Total assets Net sales
Answer:
The most commonly used base item for a common size balance sheet is:
Total assets.
Explanation:
The use of the total assets as an analytical base is because they are always equal to the two sides of the balance sheet in accordance with the accounting equation. This equation states that the Assets = Liabilities and Shareholders' Equity. A company can gain proper and good understanding of its performance by performing some financial analyses. Examples include comparative analysis (external-focused), trend analysis (internal-focused), and common size analysis (financial statement-focused).
The focus on traditional financial statements is accounting data rather than cash flow. However, cash flow is important to investors, managers, and stock analysts. Therefore, corporate decision makers and security analysts need to modify accounting data provided to them. An important modification is the concept of free cash flow (FCF). Many analysts regard FCF as being the single and most important number that can be developed from the accounting statements, even more important than net income. The equation for free cash flow is:
Answer and Explanation:
According to the given scenario the equation for free cash flow is shown below:-
Free cash flow = (Earnings before interest and tax × (1 - Tax) + Depreciation and amortization) - (Capital expenditure + Net operating working capital)
In this we considered the five items like earnings before interest & tax , tax rate, depreciation & amortization, capital expenditure and net operating working capital
The above equation represents the free cash flow equation
Olivia enjoys watching little birds at the many feeders in her yard. She counts how many of them she can see in her yard every morning before she leaves for school. Her data for two weeks can be seen below. Day Sun Mon Tue Wed Thu Fri Sat Week 1 31 36 24 34 45 27 41 Week 2 16 34 20 18 25 38 31 What is the mean of the number of little birds that Olivia sees in her yard each morning? Round to the nearest bird, if necessary.
a. 34
b. 31
c. 30
d. 26
Answer:
C.30
Explanation:
Add all of the numbers together, then divide by 14 (how many pieces of data there are).
The median is the middle value in a set of data.
What is the meaning of Median?The midway number in a set of data is known as the median. The data should first be arranged and ranked from smallest to greatest. Divide the total number of observations by two to get the midway value. The value in that location is the median if there are an odd number of observations; otherwise, round the number up.
The median is the value that divides a data sample, a population, or a probability distribution's upper and lower halves in statistics and probability theory. It could be referred to as "the middle" value for a data set.
A data set's median value is the point where 50% of the data points have a value that is smaller than or equal to the median.
Learn more about the Median here:
https://brainly.com/question/28060453
#SPJ1
Schedule of Cash Collections of Accounts Receivable Pet Supplies Inc., a pet wholesale supplier, was organized on January 1, 2016. Projected sales for each of the first three months of operations are as follows: January $370,000 February 450,000 March 660,000 All sales are on account. 56% of sales are expected to be collected in the month of the sale, 40% in the month following the sale, and the remainder in the second month following the sale. Prepare a schedule indicating cash collections from sales for January, February, and March.Pet Place Supplies Inc.
Schedule of Collections from Sales
For the Three Months Ending July 31, 2016
May
June
July
May sales on account:
Collected in May
Collected in June
Collected in July
June sales on account:
Collected in June
Collected in July
July sales on account:
Collected in July
Total cash collected
Answer:
Results are below.
Explanation:
All sales are on account.
56% of sales are expected to be collected in the month of the sale
40% in the month following the sale
4% in the second month following the sale.
Cash Collection January:
Sales on account January= 370,000*0.56= $207,200
Total cash collection= $207,200
Cash Collection February:
Sales on account January= 370,000*0.44= $162,800
Sales on account February= 450,000*0.56= $252,000
Total cash collection= $414,800
Cash Collection March:
Sales on account January= 370,000*0.04= $14,800
Sales on account February= 450,000*0.44= $198,000
Sales on account March= 660,000*0.56= $369,600
Total cash collection= $582,400
Answer:
Correct
Explanation:
The Aggie Graphics Company was organized on January 1, 2017.The trial balance before adjustment at December 31, 2017 contained the following account balances:Cash $9,500 Accounts Receivable 4,000 Prepaid Insurance 1,800 Equipment 45,000 Accumulated Depreciation 4,500Accounts Payable 3,500Notes Payable 18,000Common Stock 5,000Retained Earnings 12,000Dividend 2,000 Graphic Fees Earned 52,100Consulting Fees Earned 5,000Salaries Expense 30,000 Supplies Expense 2,700 Advertising Expense 1,900 Rent Expense 1,500 Utilities Expense 1,700 $100,100 $100,100Analysis reveals the following additional data: (Assume the books are only closed at year end)(A) The $2,700 balance in Supplies Expense represents supplies purchased in January. At December 31, there was $1,200 of supplies on hand.(B) The note payable was issued on September 1. It is a 3% 6-month note.(C) The balance in Prepaid Insurance is the premium paid on a one-year policy, dated March 1, 2017.(D) Consulting Fees are credited to revenue when received. At December 31, consulting fees of $1,000 contracted for January, 2017 have yet to be performed.(E) The equipment was purchased on January 1, 2017. It has a 10-year useful life and no salvage value.The entry to record (A) above would include a debit to: (Assume the company is only making one adjusting entry to record this information)A. Supplies for $1,500B. Supplies for $1,200C. Supply Expense for $1,200D. Prepaid Supply Expense for $2,7001 points QUESTION 2What is the balance in the interest payable account after adjustment?A. $ 45B. $180C. $90D. $2701 points QUESTION 3The correct entry to record (E) above is:A. Depreciation Expense 4,500Accumulated Depreciation 4,500B. Depreciation Expense 9,000Accumulated Depreciation 9,000C. Depreciation Expense 9,000Equipment 9,000D. Depreciation Expense 9,000Accumulated Depreciation 4,500Equipment 4,500
Answer: 1. B. Supplies for $1,200
2. $180
3. A. Depreciation Expense 4,500
Accumulated Depreciation 4,500.
Explanation:
• 1: The entry to record (A) above would include a debit to supplies for $1,200. It should be noted that all the supplies that were recorded by the company in January were recorded as supply expenses and supplied in hand were $1200 as at December 31st. This will be shown in the balance sheet as the supplies expenses will be reduced by $1200 which means supplies will be debited.
•2: The balance in the interest payable account after adjustment will be:
= $18,000 × 3% × 4/12
= $18000 × 0.03 × 1/3
= 180
Note that 4months out of 12 months was used as notes were issued on September 1 which is 4 months till December.
• 3: The correct entry to record (E) above is:
A. Depreciation Expense 4,500
Accumulated Depreciation 4,500
A clearing corporation agent or depository for securities transactions A) can never be a corporation. B) must be a broker-dealer. C) can be a commercial bank. D) can be a bank or corporation only if they are also a broker-dealer.
Answer: can be a commercial bank
Explanation:
It should be noted that clearing agent are usually broker-dealer but apart from the fact that clearing agents are broker dealers, it should be noted that they can also be commercial banks.
Commercial banks perform roles of clearing agents as they can help in clearing transactions that have to do with securities and also help in keeping such securities.