Answer: 1}ToTAL Activity cost =$23,000
2a) Sales order Processing Activity per unit sale=$6.00
2b)customer return activity per unit sale=$3.20
Explanation:
a. total sales order processing and customer return activity cost for swing sets
Sales order Processing Activity =Number of orders x rate per sales order
=750 x 20 = $15,000
customer return activity = Number of returns x rate per return
= 80 x 100= $8,000
ToTAL Activity cost = Sales order Processing Activity +customer return activity= $15,000 + $8000 = $23,000
b)per-unit sales order processing and customer return activity cost for swing sets
Cost of Sale order processing = $15,000
Number of swing set sold = 2,500
Therefore Sales order Processing Activity per unit sale = Cost of Sale order processing/ Number of swing set sold = $15,000/ 2,500= $6.00
customer return activity cost = $8,000
Number of swing set sold = 2,500
Therefore customer return activity per unit sale= customer return activity cost / Number of swing set sold = $8,000/ 2,500= $3.20
ToTAL Activity cost per unit sale = Sales order Processing Activity cost per unit +customer return activity cost per unit = $6.00 + $3.20 = $9.20
If you were given a personality test as part of an employment application process, would you answer the questions honestly or would you attempt to answer the questions based upon your image of "correct" way to answer? what implications does your response has for the validity of personality testing?
Explanation:
Personality tests are sold on the promise that they are valid (they measure what they say they will measure) and reliable (they produce consistent results). “Many studies over the years have proven the validity of the MBTI instrument,” says the Myers & Briggs FoundationPsychologists seek to measure personality through a number of methods, the most common of which are objective tests and projective measures.Objective tests, such as self-report measures, rely on an individual's personal responses and are relatively free of rater bias.Hope it will help you.I would answer some questions honestly but if there are some questions which i can't tell the truth i will tell some lies. because if u really like this job and don't want to loose it, it's ok to give wrong answers just for once! That's my opinion. :p. But be careful u might get in trouble if they find out ur lying!
For the following transaction, answer the questions that follow in accordance with the rules of journalizing and the double-entry accounting system:
Transaction:
Drawing by owner amounted to $1,500.
Required:
a. Which two accounts are affected ?
b. What kind of accounts are they?
c. Do the account balances increase or decrease?
d. Do we debit or credit the accounts?
Answer and Explanation:
Given that
Drawings by owner for $1,500
The journal entry is
Drawing Dr $1,500
To cash $1,500
(being the amount withdrawn is recorded)
a. Here the two accounts are affected one is drawings account and the second one is the cash account
b. The drawing is the equity account while the cash is the asset account
c. The drawing account is increased and the cash account is decreased
d. The drawing account is debited and cash account is credited
On November 1, Alan Company signed a 120-day, 8% note payable, with a face value of $9,000. What is the maturity value (principal plus interest) of the note on March 1
Answer:
$9,240
Explanation:
Computation of Maturity Value of the note
First step is to find the interest amount using this formula
Interest amount=(Face value *Note payable)*Numbers of days to signed/Numbers of days in a year
Let plug in the formula
Interest Amount = ($9,000*8%)*120/365
Interest amount = $720 * 120 / 360
Interest amount=720*0.33333
$240
Next step is to calculate for the Maturity value using this formula
Maturity Value = Face value +Interest amount
Let plug in the formula
Maturity value =$9,000 + $240
Maturity value = $9,240
Therefore the maturity value of the note on March 1 will be $9,240
Find the operating cash flow for the year for Harper Brothers, Inc. if it had sales revenue of , cost of goods sold of , sales and administrative costs of , depreciation expense of , and a tax rate of .
Answer:
$101,960,000
Explanation:
For the computation of operating cash flow first we need to follow some steps which are shown below:-
Step 1
EBIT = Sales - Cost of goods sold - Sales and administrative costs - Depreciation
= $302,100,000 - $135,900,000 - $39,600,000 - $65,000,000
= $61,600,000
Step 2
Net income = EBIT - Tax
= $61,600,000 - ($61,600,000 × 40%)
= $61,600,000 - $24,640,000
= $36,960,000
and finally
Operating cash flow = EBIT - Taxes + Depreciation
= $61,600,000 - $24,640,000 + $65,000,000
= $101,960,000
The gap between the actual quantity produced by a monopolistically competitive firm and the optimal quantity in a competitive market is known as
Answer:
The correct answer is Excess Capacity.
Explanation:
A monopolistically competitive firm is one that produces and or offers products or services in a market with similar, but not exact or perfect substitutes. A real-world example of a monopolistic competitive firm is Burger King. It competes with McDonald. Both companies sell burger and other types of fast food. However, are not perfect substitutes as there are slight differences, especially in shape and in taste, in the foods they offer.
When there is a gap between the quantity produced and the scale of output that a business or firm has been designed for, Excess Capacity is said to exist. In other words, the actual quantity produced is below what is optimal for the economy.
Cheers!
In a simple random sample of 800 people age 20 and over in a certain country, the proportion with a certain disease was found to be 0.165 (or 16.5%). Complete parts (a) through (c) below. a. What is the standard error of the estimate of the proportion of all people in the country age 20 and over with the disease? (Round to four decimal places as needed.) b. Find the margin of error, using a 95% confidence level, for estimating this proportion. m=______(round to three decimal places as? needed.)c. Report the 95% confidence interval for the proportion of all Americans age 20 and over with diabetes.
Answer and Explanation:
Please find attachment
I'm calculating standard error we used the formula standard deviation/√number of samples. Standard deviation is not known and so it was first calculated
Margin of error and confidence intervals were also calculated using their formulas
The comparative balance sheet of Nathan Company appears below: NATHAN COMPANY Comparative Balance Sheet December 31, Assets 2017 2016 Current assets $420 $333 Plant assets 780 567 Total assets $1,200 $900 Liabilities and stockholders' equity Current liabilities $168 $144 Long-term debt 300 162 Common stock 432 306 Retained earnings 300 288 Total liabilities and stockholders' equity $1,200 $900 Using horizontal analysis, show the percentage change for each balance sheet item using 2016 as a base year. NATHAN COMPANY Comparative Balance Sheet December 31, Assets 2017 2016 Percentage change Current assets $420 $333 % Plant assets 780 567 % Total assets $1,200 $900 % Liabilities and stockholders' equity Current liabilities $168 $144 % Long-term debt 300 162 % Common stock 432 306 % Retained earnings 300 288 % Total liabilities and stockholders' equity $1,200 $900 % Using vertical analysis, prepare a common size comparative balance sheet. (Round percentages to 0 decimal places, e.g. 12.) NATHAN COMPANY Comparative Balance Sheet December 31 2017 2016 Assets Amount Percentage Amount Percentage Current assets $420 % $333 % Plant assets 780 % 567 % Total assets $1,200 % $900 % Liabilities and stockholders' equity Current liabilities $168 % $144 % Long-term debt 300 % 162 % Common stock 432 % 306 % Retained earnings 300 % 288 % Total liabilities and stockholders' equity $1,200 % $900 %
Answer:
NATHAN COMPANY
Comparative Balance Sheet
For the years 2017 and 2016
2017 2018 Change Change
value in %
Assets:
Current assets $420 $333 $87 26.13%
Plant assets $780 $567 $213 37.57%
Total assets $1,200 $900 $300 33.33%
Liabilities and stockholders' equity
Current liabilities $168 $144 $24 16.67%
Long-term debt $300 $162 $138 85.19%
Common stock $432 $306 $126 41.18%
Retained earnings $300 $288 $12 4.17%
Total liabilities and equity $1,200 $900 $300 33.33%
The cash flows associated with each expansion site are summarized below. The expansion is planned for 5 years, and the interest rate is 12% per year. Use the B/C method to determine which site, if any, is the most acceptable. The monetary unit is $ million.
Site A B C
Initial cost, $ 55 70 200
M&O Cost, $/year 3 4 6
Benefits, $/year 20 29 55
Disbenefits, $/year 0.5 2 2.1
A. Site A
B. Site C
C. Site B
D. None
Answer:
C. Site B
Explanation:
A benefit-cost (B/C) method is a decision making techi=niques that uses benefit-cost ratio (BCR) to give a summary of overall relationship between the relative benefits and costs and a project being proposed.
To calculated the present values (PV) of Maintenance and Operations (M&O) Cost, Benefits and Disbenefits, we use cumulative discounting factor (CDF) for calculating the present value (PV) of an ordinary annuity as follows:
CDF = [{1 - [1 / (1 + r)]^n} / r] …………………………………. (1)
Where;
r = interest rate = 12%, or 0.12
n = number of years = 5
Substitute the values into equation (1), we have:
CDF = [{1 - [1 / (1 + 0.12)]^5} / 0.12] = 3.60
We can now calculate the B?C of each Site as follows as follows:
a. Calculation of B/C ratio of Site A
Initial cost = $55
PV of M&O Cost = M&O Cost per year * CDF = $3 * 3.60 = $10.80
PV of Benefits = Benefits per year * CDF =$20 * 3.60 = $72.00
PV of Disbenefits = Disbenefits per year * CDF = $0.5 * 3.60 = $1.80
PV of Total Cost = Initial cost + PV of M&O cost + PV of Disbenefits = $55 + $10.80 + $1.80 = $67.60
B/C ratio of Site A = PV of Benefits / PV of tota cost = $72.00 / $67.60 = 1.07
b. Calculation of B/C ratio of Site B
Initial cost = $70
PV of M&O Cost = M&O Cost per year * CDF = $4 * 3.60 = $14.40
PV of Benefits = Benefits per year * CDF =$29 * 3.60 = $104.40
PV of Disbenefits = Disbenefits per year * CDF = $2 * 3.60 = $7.20
PV of Total Cost = Initial cost + PV of M&O cost + PV of Disbenefits = $70 + $14.40 + $7.20 = $91.60
B/C ratio of Site A = PV of Benefits / PV of tota cost = $104.40 / $91.60 = 1.14
b. Calculation of B/C ratio of Site B
Initial cost = $200
PV of M&O Cost = M&O Cost per year * CDF = $6 * 3.60 = $21.60
PV of Benefits = Benefits per year * CDF =$55 * 3.60 = $198.00
PV of Disbenefits = Disbenefits per year * CDF = $2.1 * 3.60 = $7.56
PV of Total Cost = Initial cost + PV of M&O cost + PV of Disbenefits = $200 + $21.60 + $7.56 = $229.16
B/C ratio of Site A = PV of Benefits / PV of tota cost = $198.00 / $229.16 = 0.86
Conclusion
1. Since the B/C ratio of only Site A and Site B are greater than 1, both are acceptable.
2. But since Site B's B/C ratio of 1.14 is greater Site A's B/C ratio of 1.07, Site B is the most acceptable. Therefore, the correct option is C. Site B.
In 2017, Lippart & Sons, a small environmental-testing firm, performed 11,000 radon tests for $330 each and 15,000 lead tests for $240 each. Because newer homes are being built with lead-free pipes, lead-testing volume is expected to decrease by 15% next year. However, awareness of radon-related health hazards is expected to result in a 7% increase in radon-test volume each year in the near future. Jim Lippart feels that if he lowers his price for lead testing to $220 per test, he will have to face only a 4% decline in lead-test sales in 2018.Required:a. Prepare a 2018 sales budget for Hart & Sons assuming that Hart holds prices at 2017 levels. b. Prepare a 2018 sales budget for Hart & Sons assuming that Hart lowers the price of a lead test to $200.
Answer:
1.Radon Tests $3,884,100
Lead Tests $3,060,000
2.Radon Tests $3,884,100
Lead Tests $2,880,000
Explanation:
1.Preparation for 2018 sales budget for Hart & Sons
Lippart & Sons, 2017 Volume At 2017; Selling Prices
Radon Tests 11,000 $330
Lead Tests 15,000 $240
2018 Expected Change in Volume
Radon Tests 11,000 +7%
Lead Tests 15,000 -15%
Expected 2018 Volume
Radon Tests 11,000 *7% =$770
(11,000 +770)=$11,770
Lead Tests 15,000 *15%=$2,250
15,000-2,250=$12,750
Lippart & Sons Sales Budget For the Year Ended December 31,2018
Selling Price ×Units Sold = Total Revenues
Radon Tests 11,770*330=$3,884,100
Lead Tests 12,750*240=$3,060,000
2.1.Preparation for 2018 sales budget for Hart & Sons
Lippart & Sons, 2017 Volume At 2017; Selling Prices
Radon Tests 11,000 $330
Lead Tests 15,000 $200
2018 Expected Change in Volume
Radon Tests 11,000 +7%
Lead Tests 15,000 -4%
Expected 2018 Volume
Radon Tests 11,000 *7% =$770
(11,000 +770)=$11,770
Lead Tests 15,000 *4%=$600
15,000-600=$14,400
Lippart & Sons Sales Budget For the Year Ended December 31,2018
Selling Price ×Units Sold = Total Revenues
Radon Tests 11,770*330=$3,884,100
Lead Tests 14,400*200=$2,880,000
In Rooney Company, direct labor is $18 per hour. The company expects to operate at 12,000 direct labor hours each month. In January 2017, direct labor totaling $222,400 is incurred in working 12,600 hours.
Prepare a flexible budget report.
Answer:
Flexible budget Report for Rooney Company
Flexed budget Actual Variance
Labour hours 12,600 12,600
Labour cost($) 226,800 222,400 4,400 Favorable
Explanation:
A flexible budget is that which is prepared to reflect the actual activity level achieved.
It is useful for a control purpose; to compare the actual result to the expected performance. The expected performance is the the flexible budget which is a revised master budget.
Also it uses the assumptions of the static budget like standard costs and prices.
Flexed budget for labour = standard hour × actual labour cost
= $18× 12,600 = $ 226,800
Flexible budget Report for Rooney Company
Flexed budget Actual Variance
Labour hours 12,600 12,600
Labour cost($) 226,800 222,400 4,400 Favorable
A bond pays a semiannual coupon, and the last coupon was paid 61 days ago. If the annual coupon payment is $75, what is the accrued interest
Answer:
$12.57
Explanation:
Calculation for the accrued interest
Using this formula
Accrued interest =(Annual coupon payment/2) * (The numbers of days the last coupon was paid/182)
Note that Semiannual means the that annual coupon payment happened twice in a year which is from January to June and from July to December and Secondly let assumed that we have $182 days in the 6 months period.
Let plug in the formula
Accrued interest=(75/2) × (61/182)
Accrued interest=37.5*0.33516
Accrued interest=$12.57
Therefore the Accrued interest will be $12.57
Key facts and assumptions concerning Kroger Company, at December 12, 2007, appear below. Using this information, answer the questions following.
Facts and Assumptions
Yield to maturity on long-term government bonds 4.54%
Yield to maturity on company long-term bonds 6.32%
Coupon rate on company long-term bonds 7.50%
Market price of risk, or risk premium 6.30%
Estimated company equity beta 1.05
Stock price per share $ 25.97
Number of shares outstanding 681.2 million
Book value of equity $ 4,965 million
Book value of interest-bearing debt $ 6,674 million
Tax rate 35.0%
a. Estimate Kroger's cost of equity capital.
b. Estimate Kroger's weighted-average cost of capital. Prepare a spreadsheet or table showing the relevant variables.
Answer:
a. 11.16 %
b. 7.56 %
Explanation:
Cost of equity capital is the return that is required by Common Stockholders.
This can be determined as follows :
1. Growth Model
Cost of equity = Recent dividend / Market Price of Share + Expected Growth Rate
or
2. Capital Asset Pricing Model (CAPM)
Cost of equity = Return on Risk Free Security + Beta × Return on Market Portfolio Security
= 4.54% + 1.05 × 6.30%
= 11.16 %
WACC = Ke × (E/V) + Kd × (D/V) +Kp × (P/V)
Explanation and value of Variables
Ke = Cost of Equity
= 11.16 %
E/V = Weight of Equity
= $ 4,965 ÷ ( $ 4,965 + $ 6,674)
= 42.66 %
Kd = Cost of Debt :
= Interest × (1 - tax rate)
= 7.50% × ( 1 - 0.35)
= 4.875 or 4.88 %
D/V = Weight of Debt
= $ 6,674 ÷ ( $ 4,965 + $ 6,674)
= 57.34 %
Therefore,
WACC = 11.16 % × 42.66 % + 4.88 % × 57.34 %
= 7.56 %
Steelcase Inc. (SCS) is one of the largest manufacturers of office furniture in the United States. In Grand Rapids, Michigan, it assembles filing cabinets in an Assembly Department. Assume the following information for the Assembly Department: Direct labor per filing cabinet 18 minutes Supervisor salaries $250,000 per month Depreciation $18,500 per month Direct labor rate $28 per hourRequired:Prepare a flexible budget for 70,000, 80,000, and 90,000 filing cabinets for the month ending February 28 in the Assembly Department.
Answer:
Total department cost of 70,000 units = $856,500
Total department cost of 80,000 units = $940,000
Total department cost of 90,000 units = $1,024,500
Explanation:
Note: See the attached excel file for the flexible budget.
A flexible budget is a budget that changes, flexes or adjusts as the volume, activity or unit of production changes.
For this question, the direct labor cost for each unit can be calculated as follows:
Direct labor time per filing cabinet in minutes = 18
Number of minutes in one hour = 60
Direct labor rate per minute = Direct labor rate per hour / Number minutes in one hour = $28 / 60 = $0.466666666666667
Direct labor cost per filing cabinet = Direct labor time per filing cabinet in minutes * Direct labor rate per minute = 18 * $0.466666666666667 = $8.40
Direct labor cost of a particular units of production = Direct labor cost per filing cabinet * Number of units of production ................... (1)
Using equation (1), the Direct labor cost of different units of production used in the attached excel file is calculated as follows:
Direct labor cost of 70,000 units = $8.40 * 70,000 = $588,000
Direct labor cost of 80,000 units = $8.40 * 80,000 = $672,000
Direct labor cost of 90,000 units = $8.40 * 90,000 = $756,000
Dinklage Corp. has 7 million shares of common stock outstanding. The current share price is $68, and the book value per share is $8. The company also has two bond issues outstanding. The first bond issue has a face value of $70 million, a coupon rate of 6 percent, and sells for 97 percent of par. The second issue has a face value of $40 million, a coupon rate of 6.5 percent, and sells for 108 percent of par. The first issue matures in 21 years, the second in 6 years. Suppose the most recent dividend was $3.25 and the dividend growth rate is 5 percent. Assume that the overall cost of debt is the weighted average of that implied by the two outstanding debt issues. Both bonds make semiannual payments. The tax rate is 21 percent. What is the company’s WACC?
Answer:
WACC = 8.98%
Explanation:
total value of equity = $68 x 7,000,000 = $476,000,000
cost of equity:
$68 = $3.4125 / (rrr - 5%)
rrr - 5% = 5.02%
rrr = 10.02%
total value of debt:
$70 million x 0.97 = $67,900,000
YTM = {60 + [(1,000 - 970)/21]} / [(1,000 + 970)/2] = 61.43 / 985 = 6.24%
$40 million x 1.08 = $43,200,000
YTM = {65 + [(1,000 - 1,080)/6]} / [(1,000 + 1,080)/2] = 51.67 / 1,040 = 4.97%
weighted cost of debt = ($67,900,000 / $111,100,000 x 6.24%) + ($43,200,000 / $111,100,000 x 4.97%) = 3.81% + 1.93% = 5.74%
total value of the firm = $476,000,000 + $67,900,000 + $43,200,000 = $587,100,000
equity weight = $476,000,000 / $587,100,000 = 0.81076
debt weight = 1 - 0.81076 = 0.18924
WACC = (0.81076 x 10.02%) + (0.18924 x 5.74% x 0.79) = 8.12% + 0.86 = 8.98%
A Japan-based company, Sumo Gyms, Inc., issues a 35-year, semi-annual coupon bond, with a ¥300 million par value. The coupon rate is given as 5.90%, and the yield to maturity is 6.70. a. What is the value of the semi-annual coupon on the bond?
Answer:
per*
Explanation:
2. Using semiannual compounding, what is the value to you of a 9% coupon bond with a par value of $10,000 that matures in 10 years if you require a 7% return
Answer:
The Value of the Bond, PV is $10.962.65
Explanation:
The Value of the Bond (PV) can be determined as follows :
PMT = ($10,000 × 9%) ÷ 2 = $450
P/YR = 2
N = 10
Required Return (YTM) = 7 %
FV = $10,000
PV = ?
Using a Financial Calculator, the Value of the Bond, PV is $10.962.65
As the workforce becomes more diverse, why does performance appraisal become a more difficult process?
Answer:
Performance appraisal in a company with diverse workforce becomes difficult because of some cultural biases that may exist between the manager, who is doing the appraisal, and the diverse workforce. This problem becomes more acute if the manager is culturally biased and discriminatory by practise.
Explanation:
Company A can have a diverse workforce if it is made up of employees from culturally different places working together in the same workplace. Bias often arises due to human cultural nuisances. This becomes more obvious where managers are from some particular cultures while the employees are from mixed cultures. In such situations, the managers need to be retrained to enable them embrace cultural diversity in the workplace and in performance evaluation.
The key cause due to which the performance appraisal becomes problematic due to diversity in the workforce would be:
- Cultural bias
What is performance appraisal?
Performance appraisal is described as the process of reviewing the performances done by the employees in a particular organization to attain its goals and reward them accordingly.
When the workforce of a particular company or organization becomes exceedingly diverse, it becomes problematic to do performance appraisals.
The reason behind this is that this diversity gives rise to cultural biases and may result in discrimination.
Learn more about "Performance" here:
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Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $21,200, direct labor $12,720, and manufacturing overhead $16,960. As of January 1, Job 49 had been completed at a cost of $95,400 and was part of finished goods inventory. There was a $15,900 balance in the Raw Materials Inventory account.
During the month of January, Lott Company began production on Jobs 51 and 52, and completed Jobs 50 and 51. Jobs 49 and 50 were also sold on account during the month for $129,320 and $167,480, respectively. The following additional events occurred during the month.
1. Purchased additional raw materials of $95,400 on account.
2. Incurred factory labor costs of $74,200. Of this amount $16,960 related to employer payroll taxes.
3. Incurred manufacturing overhead costs as follows:
Indirect materials $18,020
Indirect labor $21,200
Depreciation expense on equipment $12,720
Various other manufacturing overhead costs on account $16,960.
4. Assigned direct materials and direct labor to jobs as follows.
Job No. Direct Materials Direct Labor
50 $10,600 $5,300
51 41,340 26,500
52 31,800 21,200
Calculate the predetermined overhead rate for 2020, assuming Lott Company estimates total manufacturing overhead costs of $ 882,000, direct labor costs of $735,000, and direct labor hours of 21,000 for the year.
Answer:
Predetermined manufacturing overhead rate= $1.2 per direct labor dollar
Explanation:
Giving the following information:
Company estimates total manufacturing overhead costs of $882,000 and, direct labor costs of $735,000
To calculate the predetermined overhead rate, we need to use the following formula:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 882,000/735,000
Predetermined manufacturing overhead rate= $1.2 per direct labor dollar
0.69 points eBookPrintReferences Check my work Check My Work button is now enabledItem 1Item 1 0.69 points Fresh Veggies, Inc. (FVI), purchases land and a warehouse for $410,000. In addition to the purchase price, FVI makes the following expenditures related to the acquisition: broker's commission, $21,000; title insurance, $1,100; and miscellaneous closing costs, $4,200. The warehouse is immediately demolished at a cost of $21,000 in anticipation of building a new warehouse. Determine the amount FVI should record as the cost of the land.
Answer:
$457,300
Explanation:
Calculation to determine the amount FVI should record as the cost of the land.
COST OF LAND
Land and warehouse $410,000
Add Expenditure:
Broker's commission $21,000
Title insurance $1,100
Miscellaneous closing costs $4,200
Warehouse demolished cost $21,000
Cost of land $457,300
Therefore the cost of land will be $457,300
What describes minerals that are deemed real property, such as gold and silver, until they are removed from the earth and become personal property?
A. Mineral rights.
B. Nutrients.
C. Synthetics.
D. Solid minerale.
Answer:
The correct answer is D
Explanation:
Solid minerals contained in the land
(Coal, iron, ore, gold or silver)
Hope this helps! （づ￣3￣）づ╭❤～
Minerals known as real property such as gold and silver are known as Solid minerale before they later become personal property.
What is a Solid minerale?These are mineral that is natural occurring in a solid and inorganic state and are representable by a chemical formula.
An example of Solid minerale includes Talc, Gold, Clay, Lithium, Kyanite, Wolframite, Gemstones etc
Therefore, the Option D is correct.
Read more about Solid minerale
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A customer buys 100 shares of ABC at $17 as the initial transaction in a new margin account. The customer must deposit:______
Answer:
$1,700
Explanation:
Although the minimum equity to open a long margin account is $2,000. However, this does not apply if the securities in the account are paid fully.
It will amount to potential loss if a customer is asked to deposit more than 100% when buying. Since the customer wants to buy 1,700 of stock, it means that 100% or $1,700 (100 shares × $17) must be deposited.
Crane Sales Company uses the retail inventory method to value its merchandise inventory. The following information is available for the current year:
Cost Retail
Beginning inventory $ 30,000 $ 45,000
Purchases 190,000 260,000
Freight-in 2,500 —
Net markups — 8,500
Net markdowns — 10,000
Employee discounts — 1,000
Sales revenue — 205,000
If the ending inventory is to be valued at the lower-of-cost-or-market, what is the cost-to-retail ratio?
a) $220,000 ÷ $315,000
b) $222,500 ÷ $305,000
c) $222,500 ÷ $313,500
d) $222,500 ÷ $303,500
Answer:
C. $222,500 ÷ $313,500
Explanation:
Calculation for cost to retail ratio
COST
Beginning inventory $30,000
Add; Purchases $190,000
Add: Freight in $2,500
Cost $222,500
RETAIL
Beginning inventory $45,000
Add: Purchases $260,000
Add: Net mark ups $8,500
Retail $313,500
Therefore, the cost to retail ratio will be
$222,500 $313,500
a regional manager for a pet supply chain, is responsible for keeping his employees updated on changes in diversity policies. Jared plays the role of a _______ in managing diversity. disseminator leader liaison figurehead communicator
Answer: disseminator
Explanation:
A disseminator is a person who spread news to others.A leader is a person to lead a group.Liaison is a cooperation that keeps a close working relationship between the people.figurehead - a leader without any power.communicator- person who communicates with others.Here, regional manager acts like a disseminator who keeps his employees updated on changes in diversity policies.
Hence, the correct answer is "disseminator ".
According to the statement as per the question, Jared plays the role of a DISSEMINATOR in managing diversity.
What is Disseminator?
When A disseminator in an organization's setting, is known as an individual who passes or communicates vital or useful information to colleagues and also teammates.
A disseminator may be one who spread the news to others.
A leader may be a person to guide a bunch.
Liaison could be a cooperation that keeps an in-depth working relationship between the people.
Figurehead - a frontrunner with no power.
Communicator- one that communicates with others.
Although, the region of the manager acts as sort of a disseminator who keeps his employees updated on changes in diversity policies.
Therefore, the right answer is "disseminator ".
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Tadpole Learning Systems Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows: March $165,800 April 152,500 May 138,800 Depreciation, insurance, and property taxes represent $35,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28, and property taxes for the year will be paid in November. 59% of the remainder of the expenses are expected to be paid in the month in which they are incurred, with the balance to be paid in the following month.Required:Prepare a schedule indicating cash payments for selling and administrative expenses for March, April, and May.
Answer:
Tadpole Learning Systems Inc.
Schedule of Cash Payments for Selling and Administrative Expenses:
March April May
59% paid in the month $77,172 $69,325 $61,242
Balance in the following month $53,628 $48,175
Total $77,172 $122,953 $109,417
Explanation:
a) Data and Calculations:
March April May
Selling and admin. expenses $165,800 $152,500 $138,800
Depreciation, insurance, and
property taxes 35,000 35,000 35,000
Remainder $130,800 $117,500 $103,800
59% paid in the month $77,172 $69,325 $61,242
Balance in the following month $53,628 $48,175
Total $77,172 $122,953 $109,417
Suppose that we have the following information concerning the government's finances and the macroeconomy for a given year: Government Debt: $12 trillion Inflation: 10% Nominal Deficit: $1.5 trillion What is the real deficit for the year
Answer: $300 billion
Explanation:
The real deficit that a Government has is one that has been adjusted for inflationary effects. It is calculated by subtracting the inflation rate times the total debt from the nominal deficit.
= Nominal deficit - (Inflation rate * Total debt)
= 1.5 trillion - ( 10% * 12 trillion)
= 1.5 trillion - 1.2 trillion
= $300 billion
Consider two projects. The first project pays benefits of $85 today and nothing else. The second project pays nothing today, nothing one year from now, but $104 two years from now. a. Which project would be preferred if the discount rate were 0%? b. What if the rate increased to 10%? c. Find the Internal Rate of Return.
Answer:
Explanation:
a )
Discount rate is 0%
NPV of first project = 85
NPV of second project = 0 + 0 + 104 = 104
second project is preferrable .
b )
if discount rate is 10%
NPV of first project = 85
NPV of second project = 104 / 1.1²
= 85.95
Their NPV is almost the same so anyone can be preferred .
c ) IRR can not be calculated unless the cost of project or cash outflow is given .
Georgia is the primary shareholder in Acme, Inc., a small corporation. After its corporate certificate was issued by the state, there were no other formalities or documentation. In fact, Georgia does not keep separate books for the corporation, and sometimes combines her personal assets with those of the corporation. If she is sued individually by a corporate creditor, what would be the likely outcome
Answer:
The likely outcome would be the judgement debt being settled from her personal assets.
Explanation:
Georgia being a primary shareholder in the small corporation, it was expected that she should keep accounts that differentiate the corporation from her personal expenses. Unfortunately such didn't happen.
Since she was sued individually by a corporate creditor, it was expected that the judgement debt should be settled from her individual account which is quite different form the corporate account.
Answer: Georgia would likely be liable
Explanation:
Based on the scenario that have been provided in the question, Georgia would likely be liable because the creditors can end up piercing the corporate veil.
This means that Georgia would be held responsible for the activities of the organization.
If an economist wishes to determine whether there is evidence that average family incomes in a community exceeds $25,000:_______
a. either a one-tailed or two-tailed test could be used with equivalent results.
b. a one-tailed test should be utilized.
c. a two-tailed test should be utilized.
d. None of the above.
Answer: one tailed test should be utilized
Explanation:
From the question, we are informed that an economist wishes to determine whether there is evidence that average family incomes in a community exceeds $25,000.
A one tailed test should be utilized because the region of rejection will just have to be based on one side.
You sold a car and accepted a note with the following cash flow stream as your payment. What was the effective price you received for the car assuming an interest rate of 6.0%?
A. Year 0-$0.
B. Year 1-$1,000.
C. Year 2-$2,000.
D. Year 3-$2,000 and Year 4-$2,000.
Answer:
year two
Explanation:because less time still you'll have 2,000
Entries for Investments in Bonds, Interest, and Sale of Bonds Kalyagin Investments acquired $220,000 of Jerris Corp., 7% bonds at their face amount on October 1, 20Y2. The bonds pay interest on October 1 and April 1. On April 1, 20Y3, Kalyagin sold $80,000 of Jerris bonds at 103.
Journalize the entries to record the following:
a. The initial acquisition of the Jerris Corp. bonds on October 1, 20Y2.
b. The adjusting entry for three months of accrued interest earned on the Jems Corp. bonds- or December 11, 20Y2.
c. The receipt of semiannual interest on April 1. 20Y3.
d. The sale of 580,000 of Jerris Corp. bonds on April, 20Y3, at 103.
Answer:
a. Investments in Jerris Corp. bonds (Dr.) $220,000
Cash (Cr.) $220,000
b. Interest Receivable (Dr.) $3,850
Interest received (Cr.) $3,850
c. Cash (Dr.) $7700
Interest Received (Cr.) $3,850
Interest Receivable (Cr.) $3,850
d. Cash (Dr.) $80,000
Investment in Jerris Corp. bonds (Cr.) $80,000
Explanation:
Interest received is the amount interest that is accrued on the bond over the period of time.
Interest accrued = Amount of investment * Coupon rate * time proportion
Interest accrued = 220,000 * 7% * 3/12
Interest accrued = $3,850.
