Answer:
the money supply would increased by 98
Explanation:
The computation of the maximum amount by which the money supply could increase is shown below;
= Deposit × 1 ÷ Reserve ratio
= 44 × 1 ÷ (0.35 + 0.10)
= 44 × 1 ÷ 0.45
= 44 × 2.2222
= 98
Hence, the money supply would increased by 98
It could be determined by applying the above formula
MedTech Corp. stock was $50.95 per share at the end of last year. Since then, it paid a $0.45 per share dividend. The stock price is currently $62.50. If you owned 500 shares of MedTech, what was your percent return
Answer: 23.55%
Explanation:
Based on the information given in the question, first, we've to calculate the dollar return which will be:
= (Ending value - Beginning value) + Income
= ($62.50 × 500) - ($50.95 × 500 + $0.45 × 500)
= $6000
The percent return will then be:
= $6000 / (50.95 × 500)
= 23.55%
Munson Co. uses a job order cost system. The following data summarize the operations related to production for July:
July 1 Materials purchased on account, $225,750
2 Materials requisitioned, $217,600, of which $17,600 was for general factory use
31 Factory labor used, $680,000, of which $72,300 was indirect.
31 Other costs incurred on account for factory overhead, $330,000; selling expenses, $180,000; and administrative expenses, $126,000
31 Prepaid expenses expired for factory overhead, $27,500; for selling expenses, $8,100; and for administrative expenses, $5,250
31 Depreciation of office building was $44,500; of office equipment, $16,800; and of factory equipment, $55,100
31 Factory overhead costs applied to jobs, $548,000
31 Jobs completed, $1,140,000
31 Cost of goods sold, $1,128,000
Required:
Journalize the entries to record the summarized operations.
Answer and Explanation:
The journal entries are given below:
a. Materials $225,750
To Accounts Payable $225,750
(Being material purchased on account is recorded)
b. Work in Process $200,000
Factory Overhead $17,600
Materials $217,600
(Being requisitioned of the material is recorded)
c. Work in Process $607,700
Factory Overhead $72,300
Wages Payable $680,000
(Being wages payable is recorded)
d. Factory Overhead $330,000
Selling Expenses $180,000
Administrative Expenses $126,000
Accounts Payable $636,000
(Being account payable is recorded)
e. Factory Overhead $27,500
Selling Expenses $8,100
Administrative Expenses $5,250
To Prepaid Expenses $40,850
(Being prepaid expense expired is recorded)
f. Depreciation Expense- Office Building $44,500
Depreciation Expense- Office Equipment $16,800
Factory Overhead $55,100
Accumulated Depreciation - Building & equipment $116,400
(Being the depreciation expense is recorded)
g. Work in Process $548,000
Factory Overhead $548,000
(Being work in process is recorded)
h. Finished Goods $1,140,000
Work in Process $1,140,000
(Being job completed is recorded)
i. Cost of Goods Sold $1,128,000
Finished Goods $1,128,000
(Being cost of goods sold is recorded)
Other financial data for the year ended December 31, 2020: Included in accounts receivable is $1,200,000 due from a customer and payable in quarterly installments of $150,000. The last payment is due December 29, 2022. During the year, estimated tax payments of $525,000 were charged to income tax expense. The current and future tax rate on all types of income is 30%. In Reese's December 31, 2020 balance sheet, the current liabilities total is
Answer:
$2,500,000
Explanation:
Calculation for the current liabilities total
Account payable and Accrued Liabilities $1,761,000
Add Income tax payable $654,000
Add Deferred income tax liability $85,000
Current liabilities total $2,500,000
($1,761,000+$654,000+$85,000)
Therefore the Current liabilities total is $2,500,000
If the pure expectations theory is correct (that is, the maturity risk premium is zero), which of the following is CORRECT? a. A 5-year T-bond would always yield less than a 10-year T-bond. b. The yield curve for corporate bonds may be upward sloping even if the Treasury yield curve is flat. c. An upward-sloping Treasury yield curve means that the market expects interest rates to decline in the future. d. The yield curve for stocks must be above that for bonds, but both yield curves must have the same slope. e. If the maturity risk premium is zero for Treasury bonds, then it must be negative for corporate bonds.
Answer:
The answer is A
Explanation:
I know this because i did this awhile back have a good day:)
XYZ stock price and dividend history are as follows: Year Beginning-of-year Price Dividend paid at Year-End 2010 $100 $4 2011 $110 $4 2012 $90 $4 2013 $95 $4 What is the arithmetic average rate of return for the period from the beginning of 2010 to the end of 2012
Answer:
3.15%
Explanation:
The computation of the arithmetic average rate of return is shown below:
Arithmetic mean = (Year 1 + year 2 ...... Year n return) ÷ (Total number of years)
The rate of return is
= (Capital gain + dividend) ÷ Price
For 2010 - 2011 = ($110 - $100 + 4) ÷ $100 = 14%
For 2011 - 2012 = ($90 - $110 + $4) ÷ $100 = -14.55%
For 2012 - 2013 = ($95 - $90+ 4) ÷ $90 = 10%
Now the arithmetic average rate of return is
= (14% - 14.55% + 10%)
= 3.15%
Marginal cost is ________ average variable cost when ________. A) equal to; average total cost is minimized B) less than; total cost is maximized C) greater than; average fixed cost is minimized D) equal to; average variable cost is minimized
Answer:
D) equal to; average variable cost is minimized
Explanation:
Marginal cost is equal to average variable cost when average variable cost is minimized.
The relationship between marginal cost and average variable cost is identical to the relationship between marginal cost and average cost. Marginal cost is a cost of an extra unit and an average variable cost is a per-unit cost as the average is equal to extra unit cost when the average is minimum so the MC=AVC at a minimum of AVC.
Assuming the same facts as those in E6.18 except that the payments must begin now and be made on the first day of each of the 15 years, what payment method would you recommend
Answer:
credit card
Explanation:
In the case of a recurring payment such as is needed in this scenario, the best payment option is a credit card. Credit Cards will allow the payment to go through automatically without the need for manual approval. This also applies regardless of your current bank balance. The payment will go through on the first day of each of the 15 years as long as the credit card is still active and you can pay the credit card bill when it arrives. That way it will not matter if you forget about paying it exactly on the first day of the year.
g will shut down for sure when the market price is _____.A.less than $ a B.less than the marginal costC.greater than the marginal costD.less than average total costE.$ a
Answer:
B. less than the marginal cost
Explanation:
In the short run, a firm should shut down if price is less than average variable cost or marginal cost. the firm should shut down because it is making losses. When the firm shuts down, it still incurs some fixed cost such as rent but it would not incur variable cost e.g. wages.
The firm should exit the market in the long run if price is less than average total cost
Suppose you will receive $500 in one year and the risk-free interest rate (rf) is 5%. The equivalent value today is closest to:
Answer:
$525
Explanation:
Calculation for The equivalent value today
Equivalent value=$500 × (1+.05)
Equivalent value=$500 × (1.05)
Equivalent value= $525
Therefore The equivalent value today is closest to:$525
Suppose in 2016 , the cost of a market basket of goods was $1 ,958 . In 2018 , the cost of the same market basket of goods was $2,107 . Calculate the price index for 2018 , using the price index formula, assume 2016 is the base year. nothing
Answer:
107.60
Explanation:
The formula for calculating the price index is as below
price index = current market price/ base year price x 100%
price index = $2107/$1958 x 100
price index = 1.076098059 x 100
price index = 107.6098059
A company pays it's workers 20$ a day .
Is it a fixed cost or variable cost ??
Answer:
Examples of variable costs are sales commissions, direct costs, cost of materials used in production, and utility costs. ૮(0w0)
Explanation:
Fixed costs remain the same, whether production increases or decreases. Wages paid to workers for their regular hours are a fixed cost. Any extra time they spend on the job is a variable cost. In a factory that makes dresses, the variable costs are the fabric and the used to make the dresses.
Dilts Company has a unit selling price of $650, variable costs per unit of $460, and fixed costs of $326,800. Compute the break-even point in units using (a) the mathematical equation and (b) unit contribution margin.
Answer:
a. 1,720 units
b. 1,720 units
Explanation:
Breakeven Point is the level at which a company makes neither a profit nor a loss, therefore, the Profit will be $0 at this point.
(a) the mathematical equation
Profit = Contribution - Fixed Cost
$0 = ($650 - $460) × units sold - $326,800
Units Sold = $326,800 ÷ ($650 - $460)
= 1,720 units
(b) unit contribution margin
Break even Point (units) = Fixed Costs ÷ Contribution per unit
= $326,800 ÷ ($650 - $460)
= 1,720 units
Written notice of an Investigative Report must be given within ______ advance notice before the report beings.
Answer:
3 days.
Explanation:
An Investigative report can be defined as a report prepared by a forensic expert or professional in the unraveling of a crime or issue.
Written notice of an Investigative Report must be given within 3 days advance notice before the report beings.
Basically, an investigative report is required or expected to give an insured person not more than 3 days advance written notice before the report will begin.
How can gross interest income rise while the net interest margin remains somewhat stable for a particular bank?
Answer:
A bank acts like an intermediary between depositors and creditors. If the market interest rates increase, gross interest income will rise, but all gross interest expense. They will charge higher rates to borrowers, but also must pay higher rates to depositors. The spread probably remains unchanged because both sides increased.
Tampa Tribune's dominant strategy is ____________ (low price, high price, it has no dominant strategy).
Answer:
Low price
Explanation:
Tampa tribune dominant strategy is low price. If the company keeps its prices high it can get maximum revenue of $88 whereas if the company keeps its prices low it can make maximum revenue of $120. The difference of $32 is gained when the prices are kept and this is dominant strategy for Tampa Tribune.
which economies would you expect to rely LESS on foreign trade as a percentage of their economic activity
Answer: А. large, more heavily populated, economies like China
Explanation:
Larger countries like China and the US have a higher population which will mean that domestically, they produce quite a lot and so percentage wise would be able to rely less on foreign trade as they will produce a lot of things for themselves.
Smaller countries like Singapore however, will be unable to produce much of what they need and so will have to engage in foreign trade more than larger countries, percentage wise.
Mathematically speaking. Percentage wise, larger countries will rely less on foreign trade because foreign trade will be less compared to their large economies. The reverse is true for smaller countries.
Rorry Company uses a job cost system. Labor costs for the period were $21,000, of which $3,000 were indirect. The journal entry is:'
Answer:
The journal entry is :
Debit : Work In Process $21,000
Credit : Direct Labor Cost $18,000
Credit : Indirect Labor Cost $3,000
Explanation:
The Work In Process Account is used to accumulate the manufacturing costs during the production period. Debit this Account with any costs incurred in manufacturing to show increase in the Product Cost and Credit the respective labor accounts to show decrease or utilization of these accounts. Note the remainder of costs of $18,000 goes to direct labor.
explain which types of organizations (if any) will traditional HRM fit most and which types of organizations (if any) will strategic HRM fit most
Answer:
The types of organization that fits the traditional HRM most are functional, divisional, and matrix organizational structures, which have hierarchical and centralized departments, where the HRM process is reactive, and staff specialists manage the human resources.
On the other hand, the types of organizations that fit the strategic HRM most are horizontal, flat, team-based, and networked organizational structures, which do not have hierarchical and centralized departments, where the HRM process is proactive, and line managers manage the human resources.
Explanation:
Traditional Human Resource Management (HRM) concentrates more on fulfilling their narrow mandates and carrying out core human resource activities. It is unlike strategic HRM, which integrates and aligns its activities with the business strategies in order to achieve organizational goals.
The definition of ethics provided in the book focuses on _______. Group of answer choices a) organization b) culture c) business d) conduct
Answer:
d) conduct
Explanation:
Ethics can be defined as a code of conduct that serves as a parameter to guide the behaviors and moral values present in a society.
Therefore, in business, it is essential that the code of ethics represents a conduct of positive behavior that helps to preserve values such as justice, integrity and equality of employees. Ethics assists in maintaining positive organizational values, in building a work environment focused on cooperation, respect and development of individual and general skills.
A 7-year municipal bond yields 4.80%. Your marginal tax rate (including state and federal taxes) is 32.00%. What interest rate on a 7-year corporate bond of equal risk would provide you with the same after-tax return
Answer:
the Interest rate on corporate bond is 7.06%
Explanation:
The computation of the rate of interest is shown below:
As we know that
The Interest rate on corporate bond × (1 - tax rate) = Municipal bond yield
The Interest rate on corporate bond × (1 - 0.32) = 4.80%
The Interest rate on corporate bond × 0.68 = 4.80%
The Interest rate on corporate bond = 4.80% ÷ 0.68
= 7.06%
Hence, the Interest rate on corporate bond is 7.06%
What is the most important source of revenue and the ma- jor type of expenditure at the Federal level
Answer: See explanation
Explanation:
The most important source of revenue is the income tax and the major type of expenditure at the Federal level is the pension and income security.
Income tax is the tax that the government of a particular country levies on the personal income of the people in the country. The main reason for taxation is to generate revenue which can be sued by the government to meet its expenses like the payment of pension and income security.
How would a mining company try to restore the land back to its original state after extraction of the ore was completed
Answer:
by completely cleaning up the land and paying for damages
Explanation:
The way that mining companies accomplish this is by completely cleaning up the land and paying for damages. These damages include anything that was destroyed in order for the mining to take place, including buildings, houses, parks, etc. This money goes to the city or individuals in charge of the land which they can use to rebuild on top of the clean land and shape it as they see fit. This entire process is usually known as land reclamation.
if the nominal interest rate is 8% and expected inflation is 2.5% then what is the real interest rate
Answer:
Explanation:
[tex]According \ to \ Fischer's \ exact \ formula[/tex]
[tex]r = \dfrac{i-e}{1+e}[/tex]
[tex]here; \\ \\ real \ interest \ rate \ (r) \ = ??? \\ \\ inflation \ rate \ (e) \ = 2.5%[/tex]
[tex]nominal \ interest \ rate \ (i) = 8%[/tex]
[tex]r = \dfrac{0.08-0.025}{1+0.025}[/tex]
[tex]r = \dfrac{0.055}{1.025}[/tex]
[tex]r = 0.0537 \\ \\ r = 5.37 \%[/tex]
[tex]According \ to \ Fischer's \ approximation \ formula: \\ \\ r = i- e \\ \\ r = (8 -2.5) \% \\ \\ r= 5.5 \%[/tex]
What is the total manufacturing overhead for the current product order if the firm uses a plantwide rate based on direct labor-hours
Answer:
$44,268
Explanation:
Calculation for What is the total manufacturing overhead for the current product order if the firm uses a plantwide rate based on direct labor-hours
First step is to calculate the Plant-wide Overhead Rate using this formula
Plant-wide Overhead Rate = Total Overhead / Total Direct Labor Hours
Let plug in the formula
Plant-wide Overhead Rate = $632,400 / 4,800 hours
Plant-wide Overhead Rate = $131.75
Now let calculate the total manufacturing overhead for the current product order
Using this formula
Current product order Total Manufacturing Overhead = Plant-wide Overhead Rate * Direct Labor Hours
Let plug in the formula
Current product order Total Manufacturing overhead= $131.75 *336 hours
Current product order Total Manufacturing overhead= $44,268
Therefore the total manufacturing overhead for the current product order if the firm uses a plantwide rate based on direct labor-hours will be $44,268
Prices tend to be sticky because Multiple Choice government controls most prices. foreign competition discourages domestic firms from price changes. firms are worried that frequent price changes would annoy consumers. most firms have agreements with each other to fix prices at profit-maximizing levels.
Answer:
firms are worried that frequent price changes would annoy consumers.
Explanation:
A price is said to be sticky when there are resistance in market price to change immediately even when changes in the economy of a particular country entails differing price of products is optimal.
In Economics, when there are monetary disturbances and a great level of macroeconomic factors in the economy of a particular country, this usually result in prices of goods and services being sticky.
Hence, prices tend to be sticky because firms are worried that frequent price changes would annoy consumers. This ultimately implies that, price stickiness arises due to the fact that business firm or entity are very much concerned or worried that a frequent change in the price of goods and services would make the consumer annoyed.
Foxx Corporation acquired all of Greenburg Company's outstanding stock on January 1, 2019. for $600.000 cash. Greenburg's accounting records showed net assets on that date of \$470,000 , although equipment with a 10-year remaining life was undervalued on the records by \$90,000 . Any recognized goodwill is considered to have an indefinite life Greenburg reports net income in 2019 of \$90,00 and 5100,000 in 2020. The subsidiary declared dividends of \$20,000 in each of these two years Account balances for the year ending December 31, 2021, follow. Credit balances are indicated by parentheses. Revenues Cost of goods sold Depreciation expense Investment Income net income Metained earnings, 1/1/21 Net income Dividends declared Retained earnings, 12/31/21 Current senate Investment in subsidiary Equipment (net) Buildings (net Land Total assets Liabilities Common stock hantering Total liabilities and equity Greenbure (00,000) S (600.000) 100.000 300.000 120.000 150.000 350.000 (420.000) (100,000) \$(1,100,000) (420,000) 120.000 3(1,400,000) 5 320,000) (100,000) 20.000 (400,000) 300.000 300.000 400.000 3,2~00,000 $ 1,200,000 100.000 $ 900,000) 5 (500,000) 900.000 (300,000) 1.400.000 (400,000) 50.200.000 1~(1,200,000) a. Determine the December 31, 2021 consolidated balance for each of the following accounts: nces
Question Completion:
Foxx Corporation acquired all of Greenburg Company's outstanding stock on January 1, 2019. for $600.000 cash. Greenburg's accounting records showed net assets on that date of $470,000 , although equipment with a 10-year remaining life was undervalued on the records by \$90,000 . Any recognized goodwill is considered to have an indefinite life Greenburg reports net income in 2019 of $90,00 and $100,000 in 2020. The subsidiary declared dividends of $20,000 in each of these two years Account balances for the year ending December 31, 2021, follow.
Foxx Greenburg
Revenues $800,000 $600,000
Cost of goods sold 100,000 150,000
Depreciation expense 300,000 350,000
Investment income 20,000 0
Net income 420,000 100,000
Retained earnings, 1/1/21 1,100,000 320,000
Net income 420,000 100,000
Dividends paid 120,000 20,000
Retained earnings 1,400,000 400,000
Current assets 300,000 100,000
Investment in subsidiary 600,000 0
Equipment 900,000 600,000
Buildings 800,000 400,000
Land 600,000 100,000
Total assets 3,200,000 1,200,000
Liabilities 900,000 500,000
Common stock 900,000 300,000
Retained earnings 1,400,000 400,000
Total liabilities + equity 3,200,000 1,200,000
a. Determine the December 31, 2021 consolidated balance for each of the following accounts:
Depreciation Expense
Dividends paid
Revenue
Equipment
Buildings
Goodwill
Common Stock
Answer:
a. Determination of the December 31, 2021 consolidated balance for each of the following accounts:
Depreciation Expense = $650,000
Dividends paid = $120,000
Revenue = $1,400,000
Equipment = $1,500,000
Buildings = $1,200,000
Goodwill = $40,000
Common Stock = $900,000
Explanation:
Foxx Greenburg Consolidated
Depreciation Expense 300,000 350,000 $650,000
Dividends paid 120,000 20,000 $120,000
Revenues $800,000 $600,000 $1,400,000
Equipment 900,000 600,000 $1,500,000
Buildings 800,000 400,000 $1,200,000
Goodwill 40,000 40,000
Common Stock 900,000 300,000 $900,000
Goodwill:
Investment in Greenburg = $600,000
Net assets of Greenburg = 560,000 ($470,000 + 90,000)
Goodwill acquired = $40,000
Describe a decision that you or your company made that involved opportunity costs that should have been considered. Why did your company make the decision
Answer:
Yes, once I was working in a clothing retail store as a manager and my company wanted to expand their business by opening another outlet. We had two locations in out mind but the funds were enough to open only one. After a thorough analysis we decided to open it near the central station of the city.
The opportunity cost of the decision is the income lost from the other location that was near the biggest mall of he city. The only reason behind choosing the first alternative is the potential footfall near the location.
What would the Bates' total itemized deductions be if all three church pledge payments were made in 2019
Question Completion:
Each year, Tom and Cindy Bates (married filing jointly) report itemized deductions of $20,000 (which includes an annual $4,000 pledge payment to their church). Upon the advice of a friend, they do the following: In early January 2019, they pay their 2018 pledge; during 2019, they pay the 2019 pledge; and in late December 2019, they prepay their 2020 pledge. a. What are the Bateses trying to accomplish? To have their itemized deductions exceed the standard deduction . b. What would the Bates' total itemized deductions be if all three church pledge payments were made in 2019?
Answer:
The Bates' total itemized deductions would be $20,000 if all three church pledge payments were made in 2019 (including $12,000 for the three years in church pledges and another $8,000 for other deductions).
Explanation:
It is assumed that the Bates' Adjusted Gross Income for 2019 is within the range of $100,000 to $200,000, which enables them to make charitable contributions up to $4,155 per annum. Since taxation uses the cash basis, it is possible for the Bates to claim the $12,000 cash in pledges for the current year when payment is made in the year.
Process cost systems are used in all of the following industries except: Oil refining. Steel. Home building. Chemicals. Textiles.
Answer:
Ship building
Explanation:
As the process of the ship building includes the different kind of activities that are complex also the volume are so big also each one would be customized according to the customer needs and considered as a distinct job
So as per the given situation the process cost system would not be used for the ship building
And for the other industries it should be used
The first stage in the month-end process is reviewing transactions and recognizing any possible issues. What are the 2 open issues that can be viewed from the Transaction review tab?
Answer:
The correct 2 open issues are uncategorized transactions and transactions without payees
Explanation:
In the transaction review tab the two open issues that could be seen is non-categorization of the transactions and the transactions done without payees also it depicts the incomplete information and in this case it can be seen that there is a blank line in the column now for correcting it choose the transaction and then correct it
Therefore The correct 2 open issues are uncategorized transactions and transactions without payees