Answer:
universal needs.
Explanation:
Universal needs products are those that do not require much differentiation because they are products that will generally become other products, that is, steel, bulk chemicals and industrial electronics are used all over the world to build other essential products in the world whole, such as industrial equipment, household appliances, means of transport, etc.
"John is a registered representative who has discretionary options accounts for 25 of his largest customers. John likes the news coming out of ABCD Corporation and decides to buy ABCD calls for some of his clients. He buys 30,000 ABCD call contracts each for 10 out of the 25 discretionary accounts that he manages. The position limit for ABCD is 250,000 contracts on each side of the market. Which statement is TRUE?"
Answer: This is a violation of position limits
Explanation:
When checking to see if there has been a violation of control limits, all the accounts managed by a single entity or all accounts under common control will be added up instead of being evaluated on an individual basis.
John manages 25 accounts out of which he bought calls for 10. He bought 30,000 for each of the 10 which would mean that he bought 300,000 call contracts.
This exceeds the 250,000 contract limit so is a violation of position limits.
Pollo Campero,a chicken restaurant chain based in Central America,is using the following method for expanding operations in the United States:A) joint ventures.B) licensing.C) exporting.D) franchising.E) acquisition.
Answer:
D) franchising.
Explanation:
The franchising is a type of license in which a franchisee party allows the access to his business to the other business person that we called franchisor with respect to the knowledge, trademarks, process in order to sell the product
Here the Pollo Campero expands its business operations in the united states this represents the franchising
Hence, the correct option is B
In the short run, an increase in the aggregate price level caused by a shift in the aggregate demand curve first causes:
Answer: b. movement along SRAS
Explanation:
When the price level changes due to an increase in the demand that forces the Aggregate demand curve to shift rightward, the immediate effect would be that the Aggregate demand curve would intersect the Short Run Aggregate supply at a new point.
This new point will see a movement along the SRAS from its previous equilibrium point to the new equilibrium intersection point with the AD curve. In other words, the new point will be on the same SRAS curve just moving from one point to another.
What other components of security management can be adapted for use in the security management model
Answer:
firewall
Explanation:
Security management model is a term often used in Information Technology (IT) industry that describes the generic steps of what to be done by an organization to ensure a secure environment.
Therefore, a component that could be adapted for use in the security management model is a FIREWALL, which is defined as a kind of network security system that functions as a barrier or guard to trusted internet network, against the incoming and outgoing untrusted external network, like local area network (LAN) and the Internet, which is based on laid down rules dsigned by the IT experts of the organization.
On February 1, 2014, Nelson Corporation purchased a parcel of land as a factory site for $280,000. An old building on the property was demolished, and construction began on a new building which was completed on November 1, 2014. Costs incurred during this period are listed below:
Demolition of old building $20,000
Architect's fees 35,000
Legal fees for title investigation and purchase contract 5,000
Construction costs 1,340,000
(Salvaged materials resulting from demolition were sold for $10,000.)
Nelson should record the cost of the land and new building, respectively, as:_________.
a. $305,000 and $1,365,000.
b. $290,000 and $1,380,000.
c. $290,000 and $1,375,000.
d. $295,000 and $1,375,000.
Answer:
d. The cost of land and building is $295,000 and $1,375,000 respectively
Explanation:
Cost of land = Purchase price + Price for demolishing old building + Legal fee on purchase contract & investigation - Salvage value of demolished material
Cost of land = $280,000 + $20,000 + $5,000 - $10,000
Cost of land = $305,000−$10,000
Cost of land = $295,000
Cost of building = Construction cost + Architect′ s fee
= $1,340,000 + $35,000
= $1,375,000
How might the future economic concerns of other countries differ from those of the United States?
Answer:
The future economic concerns of other countries will differ from those of the United States, mainly according to the degree of economic development of each nation. Thus, for example, countries like Germany or Canada, which have an economic development similar to that of the United States, will have economic and socioeconomic concerns quite similar to the United States (rational use of natural resources, redistribution of income, efficient allocation of public resources, etc.).
On the other hand, less developed nations such as those of Africa, Haiti or Cuba, for example, will have different concerns, such as guaranteeing access to water, food and sanitation for all their inhabitants, or generating foreign investments that provide jobs for their residents.
Evaluate online tutorials and online communities in regard to helping users. Create an argument for the approach you find to be the most effective and explain why.
Explanation:
The most effective approach in my opinion is online tutorials, which are tools used to assist users in various subjects.
On the internet there are a variety of online tutorials to teach subjects such as computers, use of electronic devices, technological systems, etc. Its advantage is the detailed teaching methodology that is usually carried out by the step-by-step method.
This learning methodology can be more beneficial in relation to online communities, which may pose some risks to user data and information.
g Our company reported the following financial numbers for one of its divisions for the year; average total assets of $5,800,000; sales of $5,375,000; cost of goods sold of $3,225,000; and operating expenses of $1,147,000. Assume a target income of 15% of average invested assets. Compute residual income for the division:
Answer:
Residual income = $133,000
Explanation:
Sales $5,375,000
Less: COGS $3,225,000
Gross profit $2,150,000
Less: Operating expense $1,147,000
Net income $1,003,000
Residual income = Net income - (Average operating assets * return)
Residual income = $1,003,000 - (5,800,000 * 15%)
Residual income = $1,003,000 - $870,000
Residual income = $133,000
During the year, we made a payment of long-term notes payable of $45,000 and borrowed $20,000 on a long-term note payable. Which of the following is correct for our statement of cash flows?
A. Net cash used for financing activities is ($25,000).
B. Net cash provided by investing activities is $25,000.
C. Net cash provided by financing activities is $25,000.
D. Net cash used for financing activities is ($45,000).
Answer:
A. Net cash used for financing activities is ($25,000)
Explanation:
Borrowing and repayment of note payable are a financing activity recognized under Cash flow
Borrowed note payable $20,000 (Inflow)
Less : Repayment of Note payable ($45,000) (outflow)
Net Inflow of cash ($25,000)
A company had revenues of $54,000 and expenses of $43,250 for the accounting period. The company paid $5,950 cash in dividends to the owner (sole shareholder). Which of the following entries could not be a closing entry?
A. Debit Income Summary $10,750; credit Retained Earnings $10,750.
B. Debit Income Summary $54,000; credit Revenues $54,000.
C. Debit Revenues $54,000; credit Income Summary $54,000.
D. Debit Income Summary $43,250, credit Expenses $43,250.
E. Debit Retained Earnings $5,950, credit Dividends $5,950.
Answer:B. Debit Income Summary $54,000; credit Revenues $54,000.
Explanation:
The following entries can be a closing entry
a)To record closing entry of revenue account
Account Debit Credit
Revenues $54,000
Income summary $54,000
b)To record closing entry of expense account
Income summary $43,250
Expenses $43,250
c)To record closing entry of income summary account
Income summary ( $54,000- $43,250) $10,750
Retained earnings $10,750
d) to record the closing entry of dividends account
Retained Earnings $5,950
Dividend $5,950
The entry that could not be a closing entry is B. Debit Income Summary $54,000; credit Revenues $54,000 because income summary account should be credited with the revenue amount of $54,000 as Revenue increases the income of every business.
Where should DoD employees look for guidance on safeguarding classified information?
Answer: E.O. 13526 ; DoDM 5200.01
Explanation:
The Department of Defense(DOD) is a federal agency that is responsible for the coordination and the supervision of everything that is related to national security in the United States.
The Department of Defense employees should look at E.O. 13526 and the DoDM 5200.01 for guidance on safeguarding classified information.
DoD employees should look for guidance on safeguarding classified information primarily within the Department of Defense (DoD) policies and regulations.
How is this so?These policies and regulations provide comprehensive guidelines on the handling, storage, transmission, and protection of classified information.
Specifically, employees can refer to documents such as the DoD Manual 5200.01, "DoD Information Security Program," and DoD Directive 5200.01, "DoD Information Security Program and Protection of Sensitive Compartmented Information."
Also, each branch of the military and specific agencies within the DoD may have their own supplemental guidance and regulations that employees should consult for specific requirements and procedures.
Learn more about classified information at:
https://brainly.com/question/30099202
#SPJ6
How long should I allow for my CPT application to be processed before contacting the Deptartment of International Graduate Services?
a. 10 business days
b. 3 business days
c. 24 hours
Answer: a. 10 business days
Explanation:
Curricular Practical Training (CPT) refers to a job that will be beneficial to your program of study such as alternate work/study, internship and cooperative education.
When applying for the CPT, one must keep in mind that in general it takes 5 - 10 business days. However, during Peak application times such as April, September and January, it is recommended that you wait the entire 10 business days.
If a company has excess capacity, increases in production level will increase variable production costs but not fixed production costs.
a. True
b. False
Answer; True
Explanation;
When a company has excess capacity, it means that potentially it could produce more than it is producing at the moment. As this potential already takes into account the fixed costs, this means that given the fixed costs it currently has, more goods could be produced on those same fixed costs and they wouldn't increase.
Increasing production level would therefore only increase variable costs which rise whenever production rises as they are directly related to the production of goods.
If a consumer purchases a combination of coffee and football tickets such that Coffee/Coffee = 20 and MU Football tickets/PFootball tickets = 10, to maximize utility, the consumer should by:_________
a. more coffee and more football tickets
b. less coffee and more football tickets
c. less coffee and fewer football tickets
d. more coffee and fewer football tickets
Answer: d. more coffee and fewer football tickets
Explanation:
MU/P refers to the marginal utility gained per dollar of an alternative and rationale consumers are always expected to maximise their utility by picking alternatives that give them more utility as opposed to less.
The MU/P for coffee is 20 whilst that of football tickets in 10. This means that more utility is gained from getting more coffee as opposed to football tickets. The action that would maximise utility would therefore be one where the consumer gets more coffee and fewer football tickets.
Title 10, United States Code (USC), Section 2337 provides requirements and responsibilities for the product support manager (PSM) that include:
A. Conducting appropriate cost analysis to validate the product support strategy.
B. Using predictive analysis and modeling tools that can improve material availability and reliability.
C. Developing and implementing a comprehensive product support strategy for the weapon system.
D. Reviewing all business-case analyses from product support integrators and product support providers every ten years.
The following expenditures are related to land, land improvements, and buildings, which were acquired on November 1, 2013.Cost of real estate acquired for a new manufacturing plant 365000The land is appraised for 262,800 and the building for 102,200Real estate taxes paid by the purchaser 20,000Cost of removing barn 8,500Architect fees for updating building 6750Attorneys fees for closing sale 12500Grading land 3500paving parking lot 7000planting trees and shrubs 9250cost of repairs to building due to storm 1300lights placed on driveway 4750fee to real estate broker 25001: Determine the cost of the land, the building and the improvements (Round to the nearest dollar)2: Prepare journal entries on December 31, 2013 for depreciation assuming the building will have a useful life of 20 years and no residual value. Use double declining balance method and the half-year convention. 3: Depreciate the land improvements using straight-line method, a 5 year life, to the nearest month with zero residual value (to the nearest dollar).
Answer:
1) there is no fixed formula for allocating land costs, specially since you should try to allocate more costs to the building or other depreciable assets than to land, but the IRS is not allowing this anymore. In some places, it is not accepting the old 80/20 rule or even a 60/40 rule for allocating costs, instead it is requiring costs to be allocated based on a professional appraisal.
cost of land:
appraisal value = $262,800real estate taxes = ($262,800 / $365,000) x $20,000 = $14,400fee to real estate broker = ($262,800 / $365,000) x $2,500 = $1,800cost of removing barn = $8,500attorney's fees for closing sale = ($262,800 / $365,000) x $12,500 = $9,000grading land = $3,500total cost of land = $300,000cost of building:
appraisal value = $102,200real estate taxes = ($102,200 / $365,000) x $20,000 = $5,600fee to real estate broker = $700architect's fees for updating building = $6,750attorney's fees for closing sale = $3,500cost of repairs to building due to storm = $1,300total cost of building = $120,050cost of land improvements:
paving parking lot = $7,000planting trees and shrubs = $9,250lights placed on driveway = $4,750total cost of land improvements = $21,0002) if we assume MACRS 20 year property (double declining), half year convention for depreciating the building, the depreciation for 2013 would be 3.75% x $120,050 = $4,501.86 ≈ $4,502
December 31, 2013, depreciation expense
Dr Depreciation expense 4,502
Cr Accumulated depreciation: building 4,502
3) land improvements depreciation expense for year using straight line method = $21,000 / 5 = $4,200 x 2/12 = $700
December 31, 2013, depreciation expense
Dr Depreciation expense 700
Cr Accumulated depreciation: land improvements 700
The Benesch Company expects sales in 2018 of 205,000 units of serving trays. Benesch's beginning inventory for 2018 is 18,000 trays, and its target ending inventory is 27,000 trays. Compute the number of trays budgeted for production in 2018.
Answer:
214,000 trays
Explanation:
Budgeted sales in unit. 205,000
Add: targeted ending inventory 27,000
Total requirements. 232,000
Deduct: beginning inventory (18,000)
Budgeted units to be prod. 214,000
I'm having a difficult time with my accounting workbook. I post the adjusting entries, but my balance sheet never equalizes. Can someone point me where i'm going wrong?
1. A supplier shipped $3,000 of ingredients on 12/29/17. Peyton receives an invoice for the goods, as well as a bill for freight for $175, all dated 12/29/17. Goods were shipped FOB supplier’s warehouse.
2. At 12/31/17, Peyton has $200 worth of merchandise on consignment at Bruno’s House of Bacon.
3. On 12/23/17, Peyton received a $1,000 deposit from Pet Globe for product to be shipped by Peyton in the second week of January.
4. On 12/03/2017, a mixer with cost of $2,000, accumulated depreciation $1,200, was destroyed by a forklift. As of 12/23/17, insurance company has agreed to pay $700 in January, 2018, for accidental destruction.
5. Note about later borrowing financials will show loan from parents repaid and use of bank financing.
PEYTON APPROVED
TRIAL BALANCE
As of December 31, 2017
Unadjusted trial balance Adjusting entries Adjusted trial balance
Dr Cr ref Dr Cr ref Dr Cr
Cash 67,520.04 67,520.04
Accounts Receivable 68,519.91 68,519.91
Other Receivable - Insurance Baking Supplies 15,506.70 15,506.70
Merchandise Inventory 1,238.07 1,238.07
Consignment Inventory Prepaid Rent 2,114.55 2,114.55
Prepaid Insurance 2,114.55 2,114.55
Misc. Supplies 170.49 170.49
Baking Equipment 14,000.00 14,000.00
Accumulated Depreciation 1,606.44 1,606.44
Customer Deposit - Accounts Payable 20,262.11 20,262.11
Wages Payable 3,383.28 3,383.28
Interest Payable 211.46 211.46
Notes Payable 5,000.00 5,000.00
Common Stock 20,000.00 20,000.00
Beginning Retained earnings 50,144.84 50,144.84
Dividends 105,000.00 105,000.00
Bakery Sales 327,322.55 327,322.55
Merchandise Sales 1,205.64 1,205.64
Cost of Goods Sold - Baked 105,834.29 105,834.29
Cost of Goods Sold - Merchandise 859.77 859.77
Rent Expense 24,549.19 24,549.19
Wages Expense 10,670.72 10,670.72
Misc. Supplies Expense 3,000.46 3,000.46
Business License Expense 2,045.77 2,045.77
Misc. Expense 1,363.84 1,363.84
Depreciation Expense 677.86 677.86
Insurance Expense 1,091.08 1,091.08
Advertising Expense 1,549.74 1,549.74
Interest Expense 818.31 818.31
Telephone Expense 490.98 490.98
Gain/Loss on disposal of equipment 429,136.32 429,136.32 - - 429,136.32 429,136.32
Answer:
PEYTON APPROVED
TRIAL BALANCE
As of December 31, 2017
Unadjusted Adjusting Adjusted
Trial balance Entries Trial balance
Dr Cr ref Dr Cr ref Dr Cr
Cash 67,520.04 3 1,000 68,520.04
Accounts Receivable 68,519.91 68,519.91
Other Receivable -
Insurance Baking
Supplies 15,506.70 15,506.70
Merchandise
Inventory 1,238.07 1 3,175 1 4,413.07
Consignment
Inventory 2 200 2 200
Prepaid Rent 2,114.55 2,114.55
Prepaid Insurance 2,114.55 2,114.55
Misc. Supplies 170.49 170.49
Baking Equipment 14,000.00 4 2,000 4 12,000.00
Accumulated Depreciation 1,606.44 4 4 406.44
Customer Deposit
- Accounts Payable 20,262.11 20,262.11
Wages Payable 3,383.28 3,383.28
Interest Payable 211.46 211.46
Notes Payable 5,000.00 5,000.00
Common Stock 20,000.00 20,000.00
Beginning Retained
earnings 50,144.84 50,144.84
Dividends 105,000.00 105,000.00
Bakery Sales 327,322.55 327,322.55
Merchandise Sales 1,205.64 1,205.64
Cost of Goods
Sold - Baked 105,834.29 105,834.29
Cost of Goods
Sold -
Merchandise 859.77 859.77
Rent Exp. 24,549.19 24,549.19
Wages Exp. 10,670.72 10,670.72
Misc. Supplies
Expense 3,000.46 3,000.46
Business
License
Expense 2,045.77 2,045.77
Misc.
Expense 1,363.84 1,363.84
Depreciation
Expense 677.86 677.86
Insurance
Expense 1,091.08 1,091.08
Advertising
Expense 1,549.74 1,549.74
Interest
Expense 818.31 818.31
Telephone
Expense 490.98 490.98
Gain/Loss on
disposal of equipment 429,136.32 429,136.32 - - 429,136.32 429,136.32
Explanation:
a) Data and Calculations:
PEYTON APPROVED
TRIAL BALANCE
As of December 31, 2017
Unadjusted trial balance Adjusting entries Adjusted trial balance
Dr Cr ref Dr Cr ref Dr Cr
Cash 67,520.04 67,520.04
Accounts Receivable 68,519.91 68,519.91
Other Receivable - Insurance Baking Supplies 15,506.70 15,506.70
Merchandise Inventory 1,238.07 1,238.07
Consignment Inventory Prepaid Rent 2,114.55 2,114.55
Prepaid Insurance 2,114.55 2,114.55
Misc. Supplies 170.49 170.49
Baking Equipment 14,000.00 14,000.00
Accumulated Depreciation 1,606.44 1,606.44
Customer Deposit - Accounts Payable 20,262.11 20,262.11
Wages Payable 3,383.28 3,383.28
Interest Payable 211.46 211.46
Notes Payable 5,000.00 5,000.00
Common Stock 20,000.00 20,000.00
Beginning Retained earnings 50,144.84 50,144.84
Dividends 105,000.00 105,000.00
Bakery Sales 327,322.55 327,322.55
Merchandise Sales 1,205.64 1,205.64
Cost of Goods Sold - Baked 105,834.29 105,834.29
Cost of Goods Sold - Merchandise 859.77 859.77
Rent Expense 24,549.19 24,549.19
Wages Expense 10,670.72 10,670.72
Misc. Supplies Expense 3,000.46 3,000.46
Business License Expense 2,045.77 2,045.77
Misc. Expense 1,363.84 1,363.84
Depreciation Expense 677.86 677.86
Insurance Expense 1,091.08 1,091.08
Advertising Expense 1,549.74 1,549.74
Interest Expense 818.31 818.31
Telephone Expense 490.98 490.98
Gain/Loss on disposal of equipment 429,136.32 429,136.32 - - 429,136.32 429,136.32
b) The adjustments are made in the Adjusting entries column and referenced accordingly, while the effect is reflected in the adjusted trial balance column.
The following data relate to labor cost for production of 22,000 cellular telephones:
Actual: 4,220 hrs. at $44.50
Standard: 4,160 hrs. at $46.00
Required:
Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance.
Answer:
Results are below.
Explanation:
Giving the following information:
Production= 22,000 units
Actual: 4,220 hrs. at $44.50
Standard: 4,160 hrs. at $46.00
To calculate the direct labor time and rate variance, we need to use the following formula:
Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate
Direct labor time (efficiency) variance= (4,160 - 4,220)*46
Direct labor time (efficiency) variance= $2,760 unfavorable
Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity
Direct labor rate variance= (46 - 44.5)*4,220
Direct labor rate variance= $6,330 favorable
Total variance= 6,330 - 2,760
Total variance= $3,570 favorable
Western Wholesale Foods incurs the following expenditures during the current fiscal year. How should Wesernaunt for each of these expenditures?
1. Salaries for the repair technicians, $156,000
2. Remodeling of the executive offices, $83,100
3. Annual maintenance costs related to its machinery, $79,400
4. Improvement of the production line resulting in an increase in productivity, $38,500
5. Addition of a sprinkler system to the manufacturing facility to reduce the risk of fire damage, $44,100
Answer and Explanation:
The classification is as follows
1. Since it is a salary for the repair technicians so it would be an expense that is incurred
2. The remodeling should be capitalized and depreciated over their useful life of an asset
3, Since there is an annual maintenance cost, so it would be an expense that is incurred
4. The improvement of the line of production should be capitalized and depreciated over their useful life of an asset
5. Addition of a sprinkler system should be capitalized and depreciated over their useful life of an asset
When two or more firms form a ________ agreement and set price and quantity in unison, economists refer to them as ________. Group of answer choices
Answer: collusive; cartel
Explanation:
A cartel is formed when independent market participants come together and collude so that they will be able to dominate the market and also maximize their profit. Cartels are usually in the same business.
Therefore, When two or more firms form a collusive agreement and set price and quantity in unison, economists refer to them as cartel.
Mark the incorrect answer. Estimated income tax payments:
a. Need not be filed if the estimated tax, after subtracting withholding, can reasonably be expected to be more than $1,000.
b. May be based on the amount of the tax liability for the prior year.
c. If inadequate, may result in nondeductible penalties.
d. Are made in four installments on April 15, June 15, and September 15 of the tax year and on January 15 of the following year.
Answer:
a. Need not be filed if the estimated tax, after subtracting withholding, can reasonably be expected to be more than $1,000.
Explanation:
Mr. Levy's estimated tax is the tax payment method for his income that is not subject to withholding. This income includes the earnings he receives from self-employment, interest, dividends, rents, and alimony. In addition, if Mr. Levy does not choose to have taxes withheld from his other taxable income, he should also make estimated tax payments.
What is another term for accountability?
Answer:
responsibility
liability
answer-ability
reporting
obedience
Explanation:
Answer:
Responsibility
Explanation:
plato
Which of the following is always true:
A) Diluted weighted shares is always less than or equal to basic weighted average shares
B) Diluted weighted shares is always greater than or equal to basic weighted average shares
C) Shares outstanding on the period end date is the value used to calculate Basic EPS
D) Shares outstanding on the period end date is the value used to calculate Diluted EPS
Answer:
B) Diluted weighted shares is always greater than or equal to basic weighted average shares
Explanation:
Basic Earnings per Share = Earnings Attributable to Holders of Common Stock ÷ Weighted Average Number of Common Stocks
Diluted Earnings per Share includes the Potential voting rights in the calculation of Weighted Average Number of Common Stocks and thus its weighted shares is always greater than or equal to basic weighted average shares.
Earnings per Share used Weighted Shares Outstanding at Period End instead of just Outstanding Shares at Period End.
A worker sets up to begin a painting job. He lays down a drop cloth and makes sure that the floor is even so that the ladder is stable. The worker also makes sure that the area around his painting zone is free of clutter or objects lying on the ground. He then stands with both feet on the top step of the ladder and starts to paint. What does the worker do incorrectly?
Answer:
You should never use the top of a ladder as a step. The employer should correct the worker’s behavior and ensure he knows the proper way to use a ladder.
Explanation:
He is standing at the top. He is not suppose to and OSHA does not approve this.
You own a stock portfolio invested 16 percent in Stock Q, 24 percent in Stock R, 36 percent in Stock S, and 24 percent in Stock T. The betas for these four stocks are .94, 1.00, 1.40, and 1.85, respectively. What is the portfolio beta?
Answer:
1.3384
Explanation:
The computation of the portfolio beta is shown below:
= Stock Q × beta of stock Q + Stock R × beta of stock R + Stock S × beta of Stock S + Stock T × beta of Stock T
= 0.16 × 0.94 + 0.24 × 1 + 0.36 × 1.4 + 0.24 × 1.85
= 1.3384
We simply applied the above formula to determine the portfolio beta and the same is to be considered
A company issues 5%, 12-year bonds with a face amount of $70,000 for $64,070 on January 1, 2021. The market interest rate for bonds of similar risk and maturity is 6%. Interest is paid semiannually on June 30 and December 31.
Required:
Record the bond issue and first interest payment on June 30, 2021.
Answer:
Date Particular Debit Credit
Jan 1, 2021 Cash $64,700
Discount on bond payable $5,930
Bond payable $70,000
Jun 30,2021 Interest expense $3,882
Discount on bonds payable $2,132
Cash $1,750
Workings:
Semi annual interest payment = 70,000 x 5% x 6/12
= $1,750
Interest expense on June 30, 2021 = Carrying value of bonds x Market interest rate
= 64,700 x 6%
= $3,882
Discount on bonds payable amortized on June 30, 2021 = Interest expense - Interest payment
= 3,882 - 1,750
= $2,132
The unauthorized use of intellectual property is called a. royalties. b. international franchising. c. foreign licensing. d. counterfeit activity.
Answer:
Option D: Counterfeit activity
Explanation:
Counterfeiting activities refer to the wide range of activities that violate the intellectual property rights of individuals. They range from illegal product duplication to piracy and illegal production and sale of a patented product.
Counterfeiting does not only harm the Intellectual property owner, it also affects the nation. This is because counterfeiting activities discourage creators from investing time and other resources to create novel products for the market that can boost the economy.
The other options are not correct. They mean the following:
Royalties refer to the sum of money that is paid to patent holders over the use f their products.
International franchising refers to the process of given permission to individuals around the world to operate and do business under your brand name, under strict adherence to certain codes of conduct
foreign licensing refers to is the agreement between two companies to sell each other's products outside their home country.
Globus Autos sells a single product. 8,300 units were sold resulting in $84,000 of sales revenue, $24,000 of variable costs, and $18,000 of fixed costs. If Globus reduces the selling price by $1.10 per unit, the new margin of safety is: (Round any intermedary calculations to the nearest cent.) A. 2,872 units B. 8,300 units C. 5,364 units D. 5,428 units
Answer:
Margin of safety= 5,364 units
Explanation:
First, we need to calculate the break-even point in units:
Selling price= 84,000/8,300= $10.12
Unitary variable cost= $2.89
New selling price= 10.12 - 1.1= $9.02
Break-even point in units= fixed costs/ contribution margin per unit
Break-even point in units= 18,000 / (9.02 - 2.89)
Break-even point in units= 2,936 units
Now, the margin of safety:
Margin of safety= (current sales level - break-even point)
Margin of safety= 8,300 - 2,936
Margin of safety= 5,364 units
Which of the following is a true statement?
a) A fiduciary entity is a legal entity that takes possession of property for the benefit of a person.
b) An estate is a fiduciary entity that comes into existence upon a person's death to transfer the decedent's real and personal property.
c) A trust is also a fiduciary entity whose purpose is to hold and administer the corpus for other persons (beneficiaries).
d) An estate exists only temporarily, but a trust may have a prolonged or even indefinite existence.
e) All of the choices are true.
Answer:
e) All of the choices are true.
Explanation:
The definition of a fiduciary are;
a) A fiduciary entity is a legal entity that takes possession of property for the benefit of a person.
b) An estate is a fiduciary entity that comes into existence upon a person's death to transfer the decedent's real and personal property.
c) A trust is also a fiduciary entity whose purpose is to hold and administer the corpus for other persons (beneficiaries).
d) An estate exists only temporarily, but a trust may have a prolonged or even indefinite existence.
Generally, a fiduciary is saddled with the responsibility of providing duties in good faith, ethics and trust.