Answer:
c. $25.2 million
Explanation:
Billy's Burgers' Accounts receivable 2011 = Accounts receivable 2010 *(1+Growth rate)
Billy's Burgers' Accounts receivable 2011 = $21,000,000 * (1+0.20)
Billy's Burgers' Accounts receivable 2011 = $21,000,000 * (1.20)
Billy's Burgers' Accounts receivable 2011 = $25,200,000.
Which best explains why there are many job opportunities in the Lodging pathway?
O The pathway requires a college education.
O The pathway offers seasonal positions.
O The pathway includes low-paying jobs.
The pathway has a high turnover rate.
Answer:
the pathway includes low-paying jobs.
Explanation:
The pathway has a high turnover rate. Because there are many job opportunities are there, In the lodging pathway.
What is employment?In most cases, employment refers to the status of having a paid job—of being employed. Employing someone is paying them to work. Employees are employed by an employer. Employment can also refer to the act of hiring individuals, as in We're trying to hire more women.
An excessively high turnover rate indicates that more employees than is typical for your industry to have left the company. Depending on the sector you work in, a high turnover rate can mean different things. The anticipated turnover rates fluctuate between industries and nations.
Therefore. The correct option is (D)
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SY Manufacturers (SYM) is producing T-shirts in three colors: red, blue, and white. The monthly demand for each color is 3,487 units. Each shirt requires 0.75 pound of raw cotton that is imported from the Luft-Geshfet-Textile (LGT) Company in Brazil. The purchasing price per pound is $1.55 (paid only when the cotton arrives at SYM's facilities) and transportation cost by sea is $0.70 per pound. The traveling time from LGT’s facility in Brazil to the SYM facility in the United States is two weeks. The cost of placing a cotton order, by SYM, is $186 and the annual interest rate that SYM is facing is 32 percent of total cost per pound.
a. What is the optimal order quantity of cotton? (Round your answer to the nearest whole number.)
Optimal order quantity pounds
b. How frequently should the company order cotton? (Round your answer to 2 decimal places.)
Company orders once every months
c. Assuming that the first order is needed on 1-Jul, when should SYM place the order?
17-Jun
1-Jul
15-Jul
d. How many orders will SYM place during the next year? (Round your answer to 2 decimal places.)
Number of orders times
e. What is the resulting annual holding cost? (Round your answer to the nearest whole number.)
Annual holding cost $ per year
f. What is the resulting annual ordering cost?
Annual ordering cost $
g. If the annual interest cost is only 5 percent, how will it affect the annual number of orders, the optimal batch size, and the average inventory?
Answer: See explanation
Explanation:
a. The optimal order quantity can be calculated as:
= √2DS/H
where
D = 3 × 12 × 3487 × 0. 75
= 94149
Total cost incurred during purchase
= $1.55 + $0.70
= $2.25
Setup cost (S) = $186
Holding cost
= 32% × $2.25
= 0.32 × $2.25
= $0.72
Optimal order quantity
= √(2 × 94149 × 186)/0.72
= 6974.50
b. This will be calculated as:
Annual demand / EOQ
= 94149/6974.50
= 13.50
The company should order cotton 13.5 times per year.
c. Since the first order is needed on 1-July and lead time is 2 weeks, SYM should place the order before 17th June.
d. This will be:
= Annual demand / EOQ
= 94149/6974.50
= 13.5 orders
e. The resulting annual holding cost will be:
= 0.72 × (6974.50/2)
= 0.72 × 3487.25
= $2510.82
f. The resulting annual ordering will be:
= 94149/6974.50 × $186
= 13.5 × $186
= $2511
3. The last dividend paid by New Technologies was an annual dividend of $1.40 a share. Dividends for the next 3 years will be increased at an annual rate of 8 percent. After that, dividends are expected to increase by 3 percent each year. The discount rate is 16 percent. What is the current value of this stock
Answer:
$12.60
Explanation:
The computation of the current value of the stock is shown below:-
= $1.40 × (1.08) ÷ 1.16 + 1.40 × (1.08)^2 ÷ (1.16)^2 + 1.40 × (1.08)^3 ÷ (1.16)^3 + 1.40 × (1.08)^3 × (1.03) ÷ (0.16 - 0.03) × (1.16)^3
= $1.3034 + $1.2136 + $1.1299 + $8.9520
= $12.60
Therefore for computing the current value of stock we simply solved the above equation.
The following information was taken from the accounts of Green Market, a small grocery store, at December 31, Year 2. The accounts are listed in alphabetical order, and all have normal balances.
Accounts payable $800
Accounts receivable 2,250
Advertising expense 600
Cash 1,850
Common stock 2,000
Cost of goods sold 2,950
Interest expense 120
Merchandise inventory 1,250
Prepaid rent 720
Retained earnings, 1/1/Year 2 2,610
Sales revenue 5,600
Salaries expense 960
Rent expense 510
Gain on sale of land 200
Required:
Prepare an income statement for the year using the single-step and multistep approach.
Answer:
i. Single-Step Income Statement
GREEN MARKET
Income Statement
For the Year Ended December 31
Revenues & Gains Amounts$
Sales revenue 5,600
Gain on sale of land 200
Total revenue & gains 5,800
Expenses
Cost of goods sold (2,950)
Advertising expense (600)
Interest expense (120)
Salaries expense (960)
Rent expense (510)
Total cost and expenses (5,140)
Net Income $660
ii. Multistep Income Statement
GREEN MARKET
Income Statement
For the Year Ended December 31
Particulars Amount$
Sales revenue 5,600
Cost of goods sold (2,950)
Gross margin 2,650
Operating expenses
Salaries expense (960)
Advertising expense (600)
Rent expense (510)
Total operating expenses (2,070)
Operating income 580
Non-operating items
Gain on sale of land 200
Interest Expense (120) 80
Net Income $660
Assignment 3 Suggested Length: 750 to 1000 words Ethical Theories to Apply: Golden Rule and Virtue Ethics
1. Task You work in the Ethics Department for ABC Company (ABC). Your department is dedicated to advising its employees about their ethical obligations in the corporate setting. You are an internal consultant who provides advice and most importantly, recommendations for action to employees of the firm. All communications you receive in this capacity are confidential. Luke, an employee of ABC, comes to you with the following scenario and asks for your advice. He wants to fully consider the situation. Your task is to advise and recommend a course of action based on the specified ethical lenses and facts as given. Below are the facts that Luke provides to you. ***** Luke has been asked to work on a project that involves developing land recently purchased by ABC to build an adult entertainment retail store. According to the plan, the land is located on the corner of the neighborhood where Owen, Luke’s brother, lives. Luke knows that as soon as the plans for the store are made public, property values for the surrounding neighborhood will decrease significantly. ABC plans to publicly announce the project one month from today. Luke is concerned about his obligations of confidentiality to his company. However, Luke is also very close to Owen, who recently told Luke that he received an offer to sell his house at an "okay" price given the current real estate market. Owen is considering selling but hasn’t made any final decision yet. He wonders if he might get a better offer a few years from now when the real estate market improves. What is the ethical issue, why is this an issue, and what should Luke do about it?
***** For assignment 3, prepare a memo, setting out your analysis and recommendations, that considers ONLY the following two theories: Golden Rule and Virtue Ethics.
Answer:
My answer is a little long, so you will probably need to summarize it.
The ethical issue here is that you work for a company that is about to open a store that will make the price of your brother's house to plummet. Your brother has the option to sell his house right now, but if you tell him to accept the offer, you will be breaching your employment duties.
Is your duty towards your brother more or less important than the duty towards the company?
We can analyze both possible outcomes:
You do not tell your brother and he does not sell his house. After the store is announced, your brother's house will decrease in value. That means that your brother will lose a lot of money, but you complied with the obligation of confidentiality that you have with your company. The downside is that once your brother knows about it, he will hate you for the rest of his life. And the hatred will probably not be limited to only your brother, most, if not all of your family will be very unpleased and terribly mad at you. Your family will probably wonder why your parents didn't abort you?, or are you adopted?, or do you simply hate humanity? On the other hand, you decide that you value your brother and whole family, and you decide to tell him to accept the offer. You will have breached your confidentiality obligation towards the company, but you will have literally saved your brother's financial situation, and you will have saved any type of relationship that you have with your family. Will the company be hurt by your decision? No, it will not make any difference to them. They are announcing the decision in just a few days, so anything that you tell your brother will not make any difference. Since your brother will try to sell his house, he will keep the information to himself, since telling other people will only ruin any possible sale.If we follow the golden rule: do to others what you would like them to do to you, then obviously we should tell Owen about our company's plans. If we were Owen, that information would be really important for us.
If we follow virtue ethics, then it gets a little bit more complicated. Is telling Owen about the new store a virtuous action? Would a virtuous person do it? To be honest, I'm not really sure what exactly is a virtuous person.
What I understand is that virtue ethics is based on who you are, and not what you really will do. So, the question here would be: Are you a good (or virtuous) brother? Are you a good (or virtuous) employee? In this case, you cannot be a virtuous employee and a virtuous brother at the same time, so it depends on which you value the most. Going back to the possible outcomes, I would prefer to be a virtuous brother in this case.
Karen, an automobile mechanic employed by an auto dealership, is considering opening a fast-food franchise. If Karen decides not to acquire the fast-food franchise, any investigation expenses are:
Answer:
The right solution is "Not Deductible".
Explanation:
If everyone's investigation for a company or starting a company fails, costs classified into two broad categories besides you:
Unless you're a person and your effort to start a company isn't successful, there are 2 kinds of investments you have had in attempting to develop yourself in the company.The expenses clients used to have before you made an intention to open a particular business. These would be personal but non-deductible charges. They include other expenses incurred throughout a regular search for something like a company or equity investment opportunity or perhaps a thorough investigation into it. The expenditures you have in your effort to purchase or launch a particular venture. Such charges are capital expenditures, and that as a capital loss, you will subtract them.The following inventory valuation errors have been discovered for Knox Corporation:
The 2015 year-end inventory was overstated by $23,000
The 2016 year-end inventory was understated by $61,000
The 2017 year-end inventory was understated by $17,000
The reported income before taxes for Knox was:
Year: Income before Taxes:
2015 $138,000
2016 $254,000
2017 $168,000
Required:
Compute what income before taxes for 2015, 2016, and 2017 should have been after correcting for the errors.
Answer:
Income +/- inventory adjustment
2015: 138,000 - 23,000 = 115,000
2016: 254,000 + 61,000 = 315,000
2017: 168,000 + 17,000 = 185,000
Explanation:
Inventory Identity:
Beginning + Purchases = Ending + COGS
As the mistake is on the right side it compensates by the other component which is COGS
When the inventory is overstated this means COGS is understated.
We didn't record the cost of good sold thefore our gross profit is higher making the net income higher.
When the inventory is understated this means COGS is overstated.
We record more cost of goods sold thefore our gross profit is lower making the net income fewer as well.
Which of the following influences what you choose to wear
Your activities
All of the Above
Basic needs
Your personal preferences
Answer:
all of the above dnnxndncnvhhdbdbdbd
Four independent situations are described below. Each involves future deductible amounts and/or future taxable amounts produced by temporary differences:
($ in thousands)
Situation
1 2 3 4
Taxable income $84 $216 $196 $260
Future deductible amounts 16 20 20
Future taxable amounts 16 16 28
Balance(s) at beginning of the year:
Deferred tax asset 2 9 4
Deferred tax liability 8 2
The enacted tax rate is 25%.
Required:
For each situation, determine the following:
Situation
1 2 3 4
a. Income tax payable
b. Deferred tax asset - balance
c. Deferred tax asset - change
d. Deferred tax liability - balance
e. Deferred tax liability - change
f. Income tax expense
Answer:
Please see attached detailed solution
Explanation:
a. Income tax payable
b. Deferred tax asset - balance
c. Deferred tax asset - change
d. Deferred tax liability - balance
e. Differed tax liability - change
f. Income tax expense
Please find attached detailed solution to the above questions.
Suppose the classical linear model assumptions hold, and the population model for log(wage) is given by:
Answer:
Throughout the clarification segment down, the definition including its concern is explained.
Explanation:
The query presented seems to be incomplete. Please notice the full issue attachment below.
The classical model relies on either the calculation as well as assumption of "finite sample," suggesting that perhaps the amount of measurements "n" is defined.Present work does not affect salary seems to be:
⇒ H₀ : B₃ = 0
One side of the alterbate theory would be that ceteris paribus, duration at current employment seems to harm incomes.It is possible to state everything as:
⇒ H₁ : B₃<0
R. J. Graziano Wholesale Corp. uses the LIFO method of inventory costing. In the current year, profit at R. J. Graziano is running unusually high. The corporate tax rate is also high this year, but it is scheduled to decline significantly next year. In an effort to lower the current year's net income and to take advantage of the changing income tax rate, the president of R. J. Graziano Wholesale instructs the plant accountant to recommend to the purchasing department a large purchase of inventory for delivery 3 days before the end of the year. The price of the inventory to be purchased has doubled during the year, and the purchase will represent a major portion of the ending inventory value.
Required:
a. What is the effect of this transaction on this year's and next year's income statement and income tax expense? Why?
b. If R. J. Graziano Wholesale had been using the FIFO method of inventory costing, would the president give the same directive?
c. Should the plant accountant order the inventory purchase to lower income? What are the ethical implications of this order?
Answer:
a. What is the effect of this transaction on this year's and next year's income statement and income tax expense? Why?
The inventory account is a permanent asset account in the balance sheet, so it doesn't matter if the company purchases all that it can during the last days of December, it will not affect the income statement, nor their tax liability for the current year. A company only recognizes cost of goods sold when the goods are actually sold, not when they are purchased.
Since the company uses the LIFO (last in, first out) inventory method, all it will do is increase the value of ending inventory which changes into beginning inventory next year. You can reduce next year's income more by purchasing the goods next year.
b. If R. J. Graziano Wholesale had been using the FIFO method of inventory costing, would the president give the same directive?
If the company used the FIFO method, the result will be the same. Inventory is not COGS, whether you use FIFO, LIFO weighted average, specific identification, or any other acronym that you might come up with. At beginning of the year, inventory must be average to determine beginning inventory. it might help to increase COGS a little, therefore, decreasing net income, but the effects shouldn't be significant.
c. Should the plant accountant order the inventory purchase to lower income? What are the ethical implications of this order?
It is useless, and he should know it. The only implication is that this will help him realize his low IQ.
The last in first out is the common method specified by the generally accepted accounting principles (GAAP). It is the method used to maintain the account of inventory. It states that the recently purchased products are expensed at the first expense.
a. The inventory account is a permanent asset account in the balance sheet, so it doesn't matter if the company purchases all that it can during the last days of December, it will not affect the income statement, nor their tax liability for the current year. A company only recognizes the cost of goods sold when the goods are actually sold, not when they are purchased.
b. If the company used the FIFO method, the result will be the same. Inventory is not COGS, whether you use FIFO, LIFO weighted average, specific identification, or any other acronym that you might come up with. At beginning of the year, inventory must be average to determine beginning inventory. it might help to increase COGS a little.
Therefore, decreasing net income, but the effects shouldn't be significant.
c. It is useless, and he should know it. The only implication is that this will help him realize his low IQ.
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This year, Linda Moore earned a $112,000 salary and $2,200 interest income from a jumbo Certificate of Deposit. She recognized a $15,300 capital loss on the sale of undeveloped land.
1. She also recognized a $10,500 capital gain from the sale of corporate stock.
2. She also received a $16,000 capital gain distribution from a mutual fund.
3. She had no other capital transactions this year but has a $17,000 capital loss carryforward from a previous year.
Required:
a. Compute Linda’s AGI and any capital loss carryforward into future years when she also recognized a $10,500 capital gain from the sale of corporate stock.
b. Compute Linda’s AGI and any capital loss carryforward into future years when she also received a $16,000 capital gain distribution from a mutual fund.
c. Compute Linda’s AGI and any capital loss carryforward into future years when she had no other capital transactions this year but has a $17,000 capital loss carryforward from a previous year.
Answer and Explanation:
Please find answer and explanation attached
On July 1, 2020, Culver Inc. made two sales. 1. It sold land having a fair value of $902,220 in exchange for a 4-year zero-interest-bearing promissory note in the face amount of $1,419,656. The land is carried on Culver's books at a cost of $590,900. 2. It rendered services in exchange for a 3%, 8-year promissory note having a face value of $402,150 (interest payable annually). Culver Inc. recently had to pay 8% interest for money that it borrowed from British National Bank. The customers in these two transactions have credit ratings that require them to borrow money at 12% interest.
Record the two journal entries that should be recorded by Sunland Inc. for the sales transactions above that took place on July 1, 2020. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 5,275. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
No. Date Account Titles and Explanation Debit Credit
1. July 1, 2020
2. July 1, 2020
Answer:
1) July 1, 2020, sale of land
Dr Notes receivable 1,419,656
Cr Land 590,900
Cr Discount on notes receivable 517,436
Cr Gain on sale of land 311,320
Discount on notes receivable $1,419,656 - $902,220 = $517,436
Gain on sale of land $902,220 - $590,900 = $311,320
2) July 1, 2020, service revenue
Dr Notes receivable 402,150
Cr Service revenue 342,218.69
Cr Discount on notes receivable 59,931.31
annual interests = $402,150 x 3% = $12,064.50
discount on notes payable = present value of annual interest = $12,064.50 x 4.9676 (PV annuity factor, 12%, 8 periods) = $59,931.31
If the cross-price elasticity of demand between Good A and Good B is 3, the price of Good B increases, and the price elasticity of demand for Good B is inelastic, we can expect to see a(n) ________ change in the quantity demanded for Good A. Group of answer choices
Answer:
INCREASE
There are no options available, but since the cross price elasticity of demand is positive, that means that goods A and B are substitute products. An increase in the price of good B will increase the quantity demanded for good A. If the cross price elasticity had been negative, then they would be complement goods, and an increase in the price of one of them would decrease the quantity demanded of both.
In an example, a local church is made up of people who are very different in their lifestyles and their stages of life. Mary is a 23-year-old single parent who earns the minimum wage. Jonathan is 60 years old, extremely wealthy, and works because he enjoys it. Jane is a 45-year-old lawyer who earns well and is well-respected in her profession. She is extremely career-oriented and is proud of her achievements. Which of the following do you think would motivate Jonathan the most?
a. safety
b. physiological
c. self-actualization
d. growth
e. esteem
Answer:
C) Self actualization
Explanation:
From the question, we are informed about example of alocal church is made up of people who are very different in their lifestyles and their stages of life, we are told if Mary who is is a 23-year-old single parent who earns the minimum wage. Jonathan is 60 years old, extremely wealthy, and works because he enjoys it. Jane is a 45-year-old lawyer who earns well and is well-respected in her profession. She is extremely career-oriented and is proud of her achievements.
In this case, self actualization would motivate Jonathan the most. This is because self actualization can be regarded as self fulfilment, it is when one fully realize his/her potential and gives appreciation, and here
Jonathan is 60 years old, and described as extremely wealthy, and works because he enjoys it. Hence self actualization is the best answer.
As CFO for Everything.Com, you are shopping for 5,000 square feet of usable office space for 25 of your employees in Center City, USA. A leasing broker shows you space in Apex Atrium, a 10-story multi-tenanted office building. This building contains 300,000 square feet of gross building area. A total of 45,000 square feet is interior space and is non-rentable. The non-rentable space consists of areas contained in the basement, elevator core, and other mechanical and structural components. An additional 30,000 square feet of common area is the lobby area usable by all tenants. The 5,000 square feet of usable area that you are looking for is on the seventh floor, which contains 28,000 square feet of rentable area, and is leased by other tenants who occupy a combined total of 20,000 square feet of usable space. The leasing broker indicated that base rents will be $30 per square foot of rentable area.
Required:
a. Calculate total rentable area in the building as though it would be rented to one tenant.
b. Calculate the load factor and common area on the seventh floor only.
c. Calculate the rentable area, including the load factor for common areas on the seventh floor and the total rent per square foot that will be paid by Everything.Com for the coming year if it chooses to lease the space.
d. Adjust (b) assuming that the owner adjusts the load factor for other common areas in the building.
e. Calculate total rent per square foot, assuming that adjusted load factors are applied to usable area for both the common areas in the building lobby and on the seventh floor.
Answer and Explanation:
Please find answer and explanation attached
Last week, an investigative reporter for a major metropolitan newspaper discovered that the doctors conducting clinical trials of a new cancer treatment drug are also the principal shareholders in Cancer Solutions Inc. (CSI). CSI is the company developing and attempting to market the drug. Upon being interviewed by federal authorities, the doctors acknowledged their conflict of interest but reported that they were sold the shares at a 75% discount by CSI's chief financial officer. The CFO was concerned that CSI might not be able to meet its annual performance objectives and in turn pay his anticipated multimillion-dollar bonus.
Does an agency conflict exist between CSI's CFO and the company's shareholders?
a. Yes; CSI's CFO engaged in unethical conduct to manipulate the firm's short-term earnings and improve the likelihood of receiving his annual bonus.
b. Yes; the shares should not have been sold at a 75% discount, which is price discrimination.
c. No; professionals, such as doctors and professional money managers, would not participate in unethical activities.
d. No; in general, shareholders are satisfied with company officers engaging in any type of legal or illegal activity to ensure the chances of them receiving greater dividend payments.
Which of the following actions will help ease agency conflicts and better align managers' objectives with the firm's shareholder wealth?
a. Pay the manager a combination of salary and stock options (phased in over several years) that reward him or her for consistently increasing shareholder wealth.
b. Pay the manager a large base salary with a huge stock option package that matures on a single date.
Amalgamated Metals Corporation's stockholders are mostly individual investors, and there is relatively little institutional ownership. If several pension and mutual funds were to take large positions in Amalgamated Metals Corporation's stock, direct shareholder intervention would be___________ likely to motivate the firm's management.
Answer:
FIRST QUESTION
A)Yes; CSI's CFO engaged in unethical conduct to manipulate the firm's short-term earnings and improve the likelihood of receiving his annual bonus.
SECOND QUESTION
A)Pay the manager a combination of salary and stock options (phased in over several years) that reward him or her for consistently increasing shareholder wealth.
LAST QUESTION
MORE likely
Explanation:
We are informed from the question about an investigative reporter for a major metropolitan newspaper discovery about the doctors conducting clinical trials of a new cancer treatment drug are also the principal shareholders in Cancer Solutions Inc. And how The CFO was concerned that CSI might not be able to meet its annual performance objectives and in turn pay his anticipated multimillion-dollar bonus.
In this case there is an agency conflict that exist between CSI's CFO and the company's shareholders, this is because the, CSI's CFO engaged in unethical conduct to manipulate the firm's short-term earnings and improve the likelihood of receiving his annual bonus.
Agency conflict in finance, is also regarded as conflict of interest, usually occur between the management and the shareholders of that company, it is conflict that usually emerge when those that are required for certain responsibility like interest of principal decide to divert the the authority for their own benefits. However,agency conflict can be minimized by allowing transparency and some ways.
It should be noted here that the CSI's CFO engaged in unethical conduct to manipulate the firm's short-term earnings and improve the likelihood of receiving his annual bonus which is the reason behind the conflict because he act on his own interest.
SECOND QUESTION,
Which of the following actions will help ease agency conflicts and better align managers' objectives with the firm's shareholder wealth?
From the explanation of Agency conflict from First question it should be noted that there are some actions that will help to ease agency conflicts and better align managers' objectives with the firm's shareholder wealth such as
Payment of the manager a combination of salary and stock options (phased in over several years) that reward him or her for consistently increasing shareholder wealth.
The payment of the stock options to the manager will allow selling of stock at agreed price as well as date.
LAST QUESTION
Amalgamated Metals Corporation's stockholders are mostly individual investors, and there is relatively little institutional ownership. If several pension and mutual funds were to take large positions in Amalgamated Metals Corporation's stock, direct shareholder intervention would be__MORE__ likely to motivate the firm's management.
What was the intrinsic value of SmileWhite Co. stock when the analyst was evaluating the stock (that is in year 2008)
Answer: $28.96
Explanation:
Using the Dividend discount model, the intrinsic value will be a sum of the present values of the dividends in addition to the present value when the dividends become constant.
First use CAPM to calculate the required return
= Risk free rate + Beta * (market return - risk free rate)
= 4.5% + 1.15 * (14.5% - 4.5%)
= 16%
The required return will be used to discount the dividends.
2009 dividends = 1.72 * 1.12 = $1.93
2010 = 1.93 * 1.12 = $2.16
2011 = 2.16 * 1.12 = $2.42
Dividends grow at 9% from 2011
Stock terminal value in 2011 = (2.42 * 1.09) / (16% - 9%) = $37.68
[tex]= \frac{1.93}{1.16} + \frac{2.16}{1.16^{2} } + \frac{2.42}{1.16^{3} } +\frac{37.68}{1.16^{3}}\\\\= 28.959397679[/tex]
= $28.96
today ,I am happy I help my grandma
A credit granted to a customer for returned goods requires a debit to a. Accounts Receivable and a credit to a contra-revenue account. b. Cash and a credit to Sales Returns and Allowances. c. Sales Revenue and a credit to Cash. d. Sales Returns and Allowances and a credit to Accounts Receivable.\
Answer:
d. Sales Returns and Allowances and a credit to Accounts Receivable.
Explanation:
The entry to record credit granted to customer entails :
Decrease the Assets of Accounts Receivable (credit entry) and Decrease the Sales Revenue (debit entry).
The Recognition of Sales Return and Allowance decreases Sales Revenue.
Darnell is buying salad and pizza for a company lunch. Suppose that a bowl of salad costs $4.00, and a slice of pizza costs $2.00. Let E be the amount in dollars that Darnell spends on salad and pizza. If Darnell buys S bowls of salad and P slices of pizza, then the total amount of money he spends ( E ) can be represented by the equation . Now rearrange the equation you wrote above so that P is written in terms of E and S. The quantity of pizza he buys can be represented by the equation . Suppose Darnell has $40.00 to spend on salad and pizza; that is, E=$40.00.
Complete the following table with values of S or P that make the equation true.
To complete the first row, determine the number of pizza slices Paolo can purchase with $40.00, when the number of salad bowls he purchases is 0.
Budget (Dollars) Salad (Bowls) Pizza (Slice)
40.00 0 _____
40.00 4 _____
40.00 _____ 0
Answer:
1. If Darnell buys S bowls of salad and P slices of pizza, then the total amount of money he spends ( E ) can be represented by the equation;
E = 4S + 2P
2. Now rearrange the equation you wrote above so that P is written in terms of E and S. The quantity of pizza he buys can be represented by the equation;
E = 4S + 2P
2P = E - 4S
P = (E - 4S)/2
3. Budget = $40.00. No salad purchased
Pizza = (E - 4S)/2
= (40 - 0)/2
= 20 pizzas
Budget = $40.00. 4 salads purchased
Pizza = (E - 4S)/2
= (40 - 4 * 4)/2
= 12 pizzas
Budget = $40.00. 0 Pizzas.
Salads = 40/4
= 10 salads
Match each trade organization or agreement with its description.
a. Oversees trade agreements among over 150 member nations and arbitrates trade disagreements among member countries.
b. Created a free-trade zone consisting of the United States, Canada, and Mexico with the purpose of eliminating trade barriers between these countries.
c. An agreement between over 25 nations, which abolished tariffs among member countries and standardized policies on agriculture, transportation, and business practices.
1. World Trade Organization
2. North American Free Trade Agreement
3. The European Union
Answer:
1. World Trade Organization
2. North American Free Trade Agreement
3. The European Union
Explanation:
a. World Trade Organization (WTO): Oversees trade agreements among over 150 member nations and arbitrates trade disagreements among member countries. The world trade organization (WTO) is an intergovernmental organization that set rules, policies and regulates global trade across the world. It was established officially on the 1st of January, 1995.
b. North American Free Trade Agreement (NAFTA): Created a free-trade zone consisting of the United States, Canada, and Mexico with the purpose of eliminating trade barriers between these countries. It officially became effective on the 1st of January, 1994.
c. The European Union (EU): An agreement between over 25 nations, which abolished tariffs among member countries and standardized policies on agriculture, transportation, and business practices. It was established officially on the 1st of November, 1993. Some of its member countries are Sweden, Italy, Germany, Portugal, Croatia, Russia, France, Spain, Netherlands etc.
The Senate, the legislature of the fictional country of Romange, is considering legislation that will generate benefits of $30 million and costs of $34 million. For perspective, Romange's population is 50 million. Passing the legislation is _____________ , and if everyone in Romange shared equally in both its benefits and its costs, the Senate will vote ____________ the legislation. If the costs of the legislation are concentrated among a few people instead of widespread among the population, those people will be willing to spend up to ___________ lobbying the Senate against the legislation. (Note: Assume that the benefits are widespread; therefore, you can ignore them in the calculations of the few who experience the costs.) The more widely spread are the benefits of the legislation, the _____________is the likelihood of lobbying for the legislation by those who will incur its benefits.
Suppose that, as before, the costs of the legislation are concentrated among a small group, but the benefits of the legislation are concentrated among another small group, and the Senate is responsive to lobbying. The people who will benefit from the legislation will be willing to spend on lobbying up to______________ , in which case the Senate will likely vote ___________ the legislation.
Answer:
Passing the legislation is INEFFICIENT, and if everyone in Romange shared equally in both its benefits and its costs, the Senate will vote AGAINST the legislation.
Costs are higher than benefits, so it should be rejected.If the costs of the legislation are concentrated among a few people instead of widespread among the population, those people will be willing to spend up to 34 MILLION lobbying the Senate against the legislation.
The more widely spread are the benefits of the legislation, the LOWER is the likelihood of lobbying for the legislation by those who will incur its benefits.
Sadly, when public goods tend to benefit everyone equally, people do not pay attention to them. One sad example, is the current state of the country's road system which is probably the worst among developed nations. Since everyone benefits form roads, everyone complains, but the vast majority of the people do not do anything but complain to themselves or their families when travelling. This is something that has been going on for decades now, and really very few people care. Even public health care, which is one of the most basic duties of a government is something that only a few really pay attention to. Only in Switzerland (which subsidizes and deducts all health spending), does a similar system works. In no other developed, or even in most developing nations would their citizens even consider not having 100% public health care.The following information was drawn from the Year 1 accounting records of Ozark Merchandisers: Inventory that had cost $15,000 was sold for $27,000 under terms 2/20, net/30. Customers returned merchandise to Ozark five days after the purchase. The merchandise had been sold for a price of $660. The merchandise had cost Ozark $400. All customers paid their accounts within the discount period. Selling and administrative expenses amounted to $2,835. Interest expense paid amounted to $200. Land that had cost $6,000 was sold for $6,900 cash.
Required
a. Determine the amount of net sales. (Round your intermediate calculations and final answer to the nearest whole dollar amount.)
b. Prepare a multistep income statement. (Round your intermediate calculations and final answer to the nearest whole dollar amount. Amounts to be deducted and losses should be indicated with a minus sign.)
c. Where would the interest expense be shown on the statement of cash flows?
Operating activities
Investing activities
Financing activities
d. How would the sale of the land be shown on the statement of cash flows?
A. The full sales price of the land, $9,250, would be shown as a cash inflow from financing activities on the statement of cash flows.
B. The full sales price of the land, $9,250, would be shown as a cash inflow from investing activities on the statement of cash flows.
C. The full sales price of the land, $9,250, would be shown as a cash inflow from operating activities on the statement of cash flows
Answer: See explanation
Explanation:
a. Sales = $27000
Less: sales returned = -$660
Less: discount at 2% = ($27000 - $660) × 2% = -$526.8
Net sales = $25813.2
b. Net sales = $25813.2
Less: cost of goods sold = $15000 - $400 = -$14600
Gross profit = $11213.2
Operating expense:
Less: Selling and administrative expenses = -$2835
Operating income = $8378.2
Non-operating items:
Less: Interest expense = ($200
Add: Gain on land Sales = $900
Net Income= $9078.2
c. The interest expense be shown on the statement of cash flows in the operating expenses section. It'll be recorded in the operating activities.
d. The sale of the land would be under the investing activity as it's capital asset of the business. Therefore, the full sales price of the land, $9,250, would be shown as a cash inflow from investing activities on the statement of cash flows.
Option B is the correct answer.
Consider the following data on U.S. GDP:
Year Nominal GDP (Billions of dollars) GDP Deflator (Base year 2009)
2015 17,947 109.8
1995 7,664 75.3
The growth rate of nominal GDP between 1995 and 2015 was _____, and the growth rate of the GDP deflator between 1995 and 2015 was _____.
Measured in 2009 prices, real GDP was _____ billion in 1995 and _____ billion in 2015.
The growth rate of real GDP between 1995 and 2015 was _____.
The growth rate of nominal GDP between 1995 and 2015 was _____ than the growth rate of real GDP.
Answer:
The growth rate of nominal GDP between 1995 and 2015 was 4.35%
Growth rate over a period is calculated as;
= 100 * (((Current variable/initial variable)^1/n) - 1)
= 100 * (((17,947 / 7,664) ^1/20) -1)
= 4.35%
Growth rate of the GDP deflator between 1995 and 2015 was 1.90%.
= 100 * (((109.8/75.3)^1/20) -1)
= 1.90%
Measured in 2009 prices, real GDP was $ 10,177.95 billion in 1995 and $ 16,345.17 billion in 2015.
Real GDP = (Nominal GDP / GDP Deflator) * 100
1995 = (7,664/75.3) * 100
= $ 10,177.95
2015 = (17,947/109.8) * 100
= $ 16,345.17
The growth rate of real GDP between 1995 and 2015 was 2.397% .
= 100 x (((16,345.17 / 10,177.95)^1/20) -1)
= 2.397%
The growth rate of nominal GDP between 1995 and 2015 was more than the growth rate of real GDP.
Nominal GDP growth was 4.35% whilst Real GDP was 2.397%.
Pooling has been used for a long time by businesses as a way to reduce risk. Imagine that years ago a small paint factory employed 200 people, each with an annual salary of $600/year. The factory owner knew from experience that 4 percent of workers were being injured each year, becoming unable to work. The factory owner decided to set up a fund to pay injured workers three months of salary to help their families and build good will with employees. The owner did not contribute to the injury fund. The workers themselves contributed a fixed amount each year to fund the plan. Answer the following questions (1 point each):_____.
1. How much did the owner need to collect from employees in total to fully fund the plan each year?
2. How much did each employee have to contribute each year to fully fund the plan?
3. What percentage of salary did each employee contribute to have an injury fund like this?
Answer:
1. Amount required to fund the plan = % of injured*Total employees* Annual salary
Amount required to fund the plan = 4%*200 people* $600
Amount required to fund the plan = $4800
2. Amount contributed by each employee = Amount required to fund the plan / Number of employees
Amount contributed by each employee = $4800/200
Amount contributed by each employee = $24
3. Percentage of salary = Amount contributed by each employee / Salary
Percentage of salary = 24/600
Percentage of salary = 0.04
Percentage of salary = 4%
QUESTION 19
¿Cuál de las siguientes descripciones representa la dimensión masculinidad-feminidad de Hofstede?
01. La dependencia de las decisiones del grupo frente a la dependencia de las decisiones individuales.
2 Todo el mundo debería tener los mismos derechos dente a los que tiene er control para poder tener derecho a los privilegios.
3. La voluntad de tomar niesgos frente a la preocupación con la seguridad en la vida.
4. La asertividad y las preocupaciones materiales frente a la preocupación por las relaciones humanas y los sentimientos.
5. El tiempo es libre versus el tiempo es dinero
Answer:
4. La asertividad y las preocupaciones materiales frente a la preocupación por las relaciones humanas y los sentimientos.
Explanation:
The correct answer for the given question is:
4. La asertividad y las preocupaciones materiales frente a la preocupación por las relaciones humanas y los sentimientos.
Women care more about relationships as compared to men who are assertive in nature and does not care on a priority for a relationship.
Broussard is already at full capacity, so its assets must grow at the same rate as projected sales. At the end of 2019, current liabilities were $1.4 million, consisting of $450,000 of accounts payable, $500,000 of notes payable, and $450,000 of accruals. The after-tax profit margin is forecasted to be 4%, and the forecasted payout ratio is 45%. Use the AFN equation to forecast Broussard's additional funds needed for the coming year. Enter your answer in dollars. For example, an answer of $1.2 million should be entered as $1,200,000.
Do not round intermediate calculations. Round your answer to the nearest dollar.
Answer: $412,600
Explanation:
AFN = Increase in assets - Increase in Liabilities - Addition to Retained Earnings
Increase in Assets
= 5,000,000 * 15%
= $750,000
Increase in Liabilities
Only use Accruals and Accounts Payable
= (450,000 + 450,000) * 15%
= $135,000
Additional to Retained Earnings
= After tax Profit
= 9,200,000 * 4%
= $368,000
Addition to retained earnings = 368,000 * ( 1 - payout ratio)
= 368,000 * ( 1 - 45%)
= $202,400
Additional Funds Needed (AFN) = 750,000 - 135,000 - 202,400
= $412,600
Organizations are often divided into units or departments. Which of these is NOT a common way to organize a company?
Group of answer choices
By function
By product
By employee compensation
By customer
Answer: By employee compensation
Explanation:
In an organization, it should be noted that an organization can be grouped based on the roles performed e.g in an organization, you can find he employees that are related to accounting of the company in the account department, employees involved in sales in the sales department etc.
Employee can also be grouped based on the product sold or based on customers but employees can't be grouped based on employee compensation. Employee compensation is the compensation that an employee gets for working for a particular company.
Financial Assertions and Audit Objectives. You are engaged to examine the financial statements of Spillane Company for the year ended December 31. Assume that on November 1, Spillane borrowed $500,000 from Second National Bank to finance plant expansion. The long-term note agreement provided for the annual payment of principal and interest over five years. The existing plant was pledged as security for the loan. Due to the unexpected difficulties in acquiring the building site, the plant expansion did not begin on time. To use the borrowed funds, management decided to invest in stocks and bonds and on November 16, invested the $500,000 in publicly traded securities
Required:
Develop specific assertions (audit objectives) related to securities (assets) based on management’s five (PCAOB) general assertions.
Answer:
Assertion 1) Existence or occurrence: the company must provide the loan documents along with proof that they actually purchased the stocks and bonds using the loan money. It would also help to have a document explaining why the building site couldn't be acquired as planned.
Assertion 2) Rights and obligations: all the legal paperwork regarding the loan, the mortgage on the existing plant and the stocks and bond paperwork must be presented.
Assertion 3) Completeness: all the relevant information must be readily available including building titles, inventories, equipment, cash receipts, etc. The auditor should be allowed to physically visit the plant and confirm the documents.
Assertion 4) Valuation and allocation: information regarding the current market values of the building, inventories and equipment should be given. The auditor should be able to confirm if the depreciation values and market values are consistent. Also, the auditor must have access to accounts receivables and should be able to analyze them to check for any inconsistencies.
Assertion 5) Presentation and disclosure: the auditor should be able to check expense accounts and capitalization accounts, and analyze them. E.g. equipment or machinery repairs must be treated as expenses and not capitalized.