Answer:
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On January 1, 20Y2, Hebron Company issued a $175,000, five-year, 8% installment note to Ventsam Bank. The note requires annual payments of $43,830, beginning on December 31, 20Y2.Journalize the entries to record the following:
Answer and Explanation:
The journal entries are shown below:
1. Cash Dr $175,000
To note payable $175,000
(being note payable is issued)
2. Interest expense Dr (8% of $175,000) $14,000
To interest payable $14,000
(being interest expense is recorded)
3. Interest payable $14,000
Note payable $29,830
To cash $43,830
(being cash paid is recorded)
4. Interest expense $6,253
To interest payable $6,253
(being interest expense is recorded)
5. Interest payable $6,253
Note payable $37,577
To cash $43,830
(being cash paid is recorded)
which of the following would be included in the set of electrical plans for individual residence?
A. Individual romex cables
B. Power panels to be installed
C. routes of cables
D. Wire sizes
Answer:
A. Individual romex cables
Explanation:
Individual romex cables would be included in the set of electrical plans for individual residence.
This is because they are a non-metallic sheathed cables, and they are flexible electrical cables which are popularly used in residential setups.
This cable comes with two insulated wires that include a ground copper wire that ensures safe passage of electrical current in case of any unfortunate event.
All of the following are symptoms of organizations struggling with strategy disconnect and unclear priorities EXCEPT Multiple Choice inadequate resources. people are working on multiple projects and feel inefficient. frequent conflicts between managers. confused employees regarding which projects are more important. not enough projects within the portfolio to make a profit.
Answer:
All of the following are symptoms of organizations struggling with strategy disconnect and unclear priorities EXCEPT
not enough projects within the portfolio to make a profit.
Explanation:
Strategy disconnect does not support an organization to be consistent in its actions at every level. However, where the strategy is shared across board, there is an integrated and coordinated attempt at long-term planning with the organization positioned to exceed the needs of its customers and to achieve success. With strategy connect, the organization responds well to changes in its external environment and is able to allocate scarce resources for the improvement of its competitive position.
Granfield Company is considering eliminating its backpack division, which reported an operating loss for the recent year of $42,200. The division sales for the year were $963,800 and the variable costs were $477,000. The fixed costs of the division were $529,000. If the backpack division is dropped, 40% of the fixed costs allocated to that division could be eliminated. The impact on Granfield's operating income for eliminating this business segment would be:__________.
a. $275,200 increase
b. $486,800 decrease
c. $211,600 increase
d. $275,200 decrease
e. $486,800 increase
Answer:
d. $275,200 decrease
Explanation:
Calculation to determine what The impact on Granfield's operating income for eliminating this business segment would be:
Using this formula
Impact on operating income =Saving in relevant fixed cost -loss of Contribution margin of backpack Division
Let plug in the formula
Impact on operating income=($529,000*40%)-($963,800-$477,000)
Impact on operating income=$211,600-$486800
Impact on operating income=$275,200 decrease
Therefore The impact on Granfield's operating income for eliminating this business segment would be:$275,200 decrease
A money market security that has a par value of $10,000 sells for $8,924.70. Given that the security has a maturity of two years, what is the investor's required rate of return?
Answer:
The answer is "5%".
Explanation:
[tex]\to \$8,924.70 = \frac{10,000}{(1 + r )^2}\\\\\to \$8,924.70 (1+r)^2= 10,000\\\\\to (1+r)^2= \frac{10,000}{\$8,924.70}\\\\\to (1+r)^2= \frac{10,000}{\$8,924.70}\\\\\to (1+r)^2= 1.1204\\\\\to (1+r)= 1.05\\\\\to r= 1.05-1\\\\\to r=0.05\\\\\to r=5\%\\\\[/tex]
Along any downward sloping straight-line demand curve: Group of answer choices both the price elasticity and slope are constant. both the price elasticity and slope vary. the price elasticity varies, but the slope is constant. the slope varies, but the price elasticity is constant.
Answer:
the price elasticity varies, but the slope is constant
Explanation:
The demand curve is a curve that shows the relationship between price and quantity demanded. The demand curve is negatively sloped because the higher the price, the lower the quantity demanded. This is in line with the law of demand.
According to the law of demand, the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.
At the midpoint of the demand curve, demand is usually unit elastic. Above the midpoint of the demand curve, demand is elastic and blow the midpoint, demand is inelastic
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
Price elasticity of demand = percentage change in quantity demanded / percentage change in price
Price elasticity of demand = midpoint change in quantity demanded / midpoint change in price
If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.
Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one
Demand is unit elastic if a small change in price has an equal and proportionate effect on quantity demanded.
Infinitely elastic demand is perfectly elastic demand. Demand falls to zero when price increases
Perfectly inelastic demand is demand where there is no change in the quantity demanded regardless of changes in price.
Ames Trading Co. has the following products in its ending inventory.Product Quantity Cost per Unit Market per UnitMountain bikes 11 $600 $550Skateboards 13 $350 $425Gliders 26 $800 $700Compute lower of cost or market for inventory applied separately to each product.
Answer:
Mountain Bikes
Market value is $550 and cost is $600.
Lower is market.
Inventory value is therefore:
= Quantity * Market
= 11 * 550
= $6,050
Skateboards
Market value is $425 and cost is $350.
Cost is lower.
Inventory value is:
= 13 * 350 cost
= $4,550
Gliders
Market value is $700 and cost is $800.
Inventory value is:
= 26 * 700 market value
= $18,200
In the world oil market, oil is supplied up to the point where: Select one: A. the marginal cost of the last barrel is at a maximum B. the marginal cost of the last barrel is the greatest distance from the price buyers are willing to pay for that last barrel C. the marginal cost of the last barrel is zero D. the marginal cost of the last barrel is just equal to the price buyers are willing to pay for that last barrel.
Answer:
D. the marginal cost of the last barrel is just equal to the price buyers are willing to pay for that last barrel.
Explanation:
In the case of the oil market that oil is to be supplied to the point where the marginal cost of the previous barrel should be equivalent to the price where the pruchaser want to pay for that previous barrel
So as per the given situation, the option d is correct
ANd, the rest of the options seems incorrect
How does marketing satisfy your needs as a college student? Are certain aspects of your life influenced more heavily by marketing than others? Provide examples
For February, sales revenue is $250,000; sales commissions are 6% of sales; the sales manager's salary is $50,000; advertising expenses are $15,000; shipping expenses total 1% of sales; and miscellaneous selling expenses are $1,000 plus 1/2 of 1% of sales. Total selling expenses for the month of February are:_______.
a. $65,000.
b. $69,750.
c. $82,250.
d. $84,750.
Answer:
d. $84,750.
Explanation:
Calculation to determine what Total selling expenses for the month of February are:
Sales commissions $15,000
($250,000 ×6%)
Sales manager's salary $50,000
Advertising expenses $15,000
Shipping expenses $2,500
($250,000 × 1%)
Miscellaneous selling expense $2,250
[$1,000 + ($250,000 × 0.5%)]
Total selling expenses $84,750
Therefore Total selling expenses for the month of February are:$84,750
In January, Dieker Company requisitions raw materials for production as follows: Job 1 $970, Job 2 $1,700, Job 3 $790, and general factory use $660. Prepare a summary journal entry to record raw materials used. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Answer:
Dr Work in Process Inventory $3460
Cr Manufacturing Overhead $660
Cr Raw materials Inventory $2,800
Explanation:
Preparation of a summary journal entry to record raw materials used.
Based on the information given the summary journal entry to record raw materials used will be:
Dr Work in Process Inventory $3460
($970+$1700+$790)
Cr Manufacturing Overhead $660
Cr Raw materials Inventory $2,800
($3460-$660)
(To record raw materials used)
When the price of paintings is set at $500, the local art gallery supplies 20 paintings per week. When the price of paintings increases to $750, the gallery supplies 25 paintings. Calculate the price elasticity of supply using the mid-point formula. Instructions: Round your answer to two decimal places. If you are entering a negative number be sure to include a negative sign (-) in front of that number. The price elasticity of supply is: .
Answer:
the price elasticity of supply is 0.555
Explanation:
The computation of the price elasticity of supply is given below:
= Percentage change in quantity supplied ÷ percentage change in price
= (25 - 20) ÷ (25 + 20) ÷ 2 ÷ (750 - 500) ÷ (750 + 500) ÷ 2
= 5 ÷45 ÷ 250 ÷ 125
= 0.555
Hence, the price elasticity of supply is 0.555
The same is relevant
On whom the trade bill drawn ?
The bill of exchange is drawn by the seller of the goods and is accepted by the buyer.
On January 1, Parson Freight Company issues 7.0%, 10-year bonds with a par value of $4,500,000. The bonds pay interest semiannually. The market rate of interest is 8.0% and the bond selling price was $4,194,222. The bond issuance should be recorded as:
Answer: Debit Cash $4,194,222; Debit Discount on bonds payable $305,778; Credit Bonds payable $4,500,000
Explanation:
Based on the information given in the question, the journal entry will be prepared as follows:
Debit Cash $4,194,222
Debit Discount on bonds payable $305,778
Credit Bonds payable $4,500,000
Note that the discount on Bonds Payable was calculated as:
= $4,500,000 - $4,194,222
= $305,778
The country of Bolivia had a Gross Domestic Product of $79 billion in 2016 and a population of 11 million people, the GDP per capita would be ________.
Answer:
The GDP per capita of country of Bolivia would be $7,181.82.
Explanation:
GDP Per capita refers to a measure that calculates a country's economic output per person by dividing its GDP by its population.
Therefore, we have:
GDP per capita = GDP / Population = $79 billion / 11 million = $79,000,000,000 / $11,000,000 = $7,181.82
Therefore, the GDP per capita of country of Bolivia would be $7,181.82.
Select the market segment that looks the most promising?
1. Luxury trenfollowers
Segment size 5,000(5%)
Growth rate 7%
2. School children
Segment size 35,000 (35%)
Growth rate 1%
3. University students
Segment size 24,099(24%)
Growth rate 5%
4. Outdoor enthusiasts
Segment size 14,000 (14%)
Growth rate 5%
5. Urban commuters
Segment size 20,000 (20%)
Growth rate 3%
Answer:
Luxury Trend followers
Explanation:
The consider which market segment shows the most or higest level of promise, we may have to the growth rate of each segment, which is the percentage change in earnings or revenue over a specific period of time. From the data given, the market segment with the greatest growth rate is the trend followers segment with a growth rate of 7%
Luxury trend followers : 7%
School children : 1%
University students : 5%
Outdoor enthusiasts : 5%
Urban Commuters : 3%
Good afternoon. Kindly assist on the following please. Assignment due by 4:30pm Mike bookshop had the following structure. Share capital 500000 ordinary shares of $1 each. 300000 10% preference of $1 each. Reserves Share premium 200 000 General reserves 100 000 Retained earnings 400 000 8% debenture 100 000 During the year the following transaction took place. 01 January issue of 200 000 $1 ordinary shares at$1,20 and 100 000 preference shares at $2 each. 01 June a 1 for 4 right issue at a premium of $0,10c each per share. 01 December 1 for 5 bonus shares fully paid. All shares issued during the year qualified for bonus and the company wishes to leave the reserves in their flexible form. Required. Balance sheet extract.
Answer:
Mike Bookshop
Balance Sheet Extract as at December 31
Share capital:
1,050,000 ordinary shares of $1 each $1,050,000
400,000 10% preference of $1 each 400,000
Total share capital $1,450,000
Reserves:
Share premium 357,500
General reserves 100,000
Retained earnings 225,000
Total reserves $682,500
8% debenture $100,000
Explanation:
a) Data and Analysis:
Share capital:
500000 ordinary shares of $1 each.
300000 10% preference of $1 each.
Reserves:
Share premium 200 000
General reserves 100 000
Retained earnings 400 000
8% debenture 100 000
During the year the following transaction took place.
01 January Cash $240,000 Ordinary share capital $200 000 Share Premium $40,000
$1 ordinary shares at$1.20 and
01 January Cash $200,000 Preferred share capital $100 000 Share Premium $100,000
01 June Cash $192,500 Ordinary share capital $175,000 Share Premium $17,500
a 1 for 4 right issue at a premium of $0.10c each per share.
01 December Retained Earnings $175,000 Ordinary share capital $175,000
1 for 5 bonus shares fully paid.
Ordinary share capital:
Beginning balance $500,000
January 1 issue 200,000
June 1 rights issue 175,000
Dec. 1 bonus issue 175,000
Ending balance $1,050,000
Preferred share capital:
Beginning balance $300,000
January 1 issue 100,000
Ending balance $400,000
Share Premium:
Beginning balance $200,000
January 1 issues 140,000
June 1 rights issue 17,500
Ending balance $357,500
General reserves $100,000
Retained Earnings:
Beginning balance $400,000
Dec. 1 Bonus issue (175,000)
Ending balance $225,000
Which of the following is not an example of what creates a hostile work environment?
1. Displaying sexually suggestive pictures or posters
2. Making sexual comments to other employees
3. All of these
4.Dispensing Assignments based on merit.
Answer:
4.Dispensing Assignments based on merit.
Explanation:
Dispensing Assignments based on merit is not an example of what creates a hostile work environment.
There are examples of what could cause a hostile work environment which include sexual harassment, use of foul language, etc.
However, giving assignments based on merit is not one of those.
Activity A is worth $100, is complete, and actually cost $150. Activity B is worth $500, is 75% complete, and has actually cost $400 so far. Activity C is worth $500, is 25% complete, and has actually cost $200 so far. What is the estimated cost at completion for this project, assuming current variances are typical of future variances?
Answer:
$1,375
Explanation:
Budget at completion = Worth of activity A + Worth of activity B + Worth of activity C
Budget at completion = $100 + $500 + $500
Budget at completion = $1,100
Earned value = Worth of activity A*% completed + Worth of activity B*% completed + Worth of activity C*% completed
Earned value = $100*100% + $500*75% + $500*25%
Earned value = $100 + $375 + $125
Earned value = $600
Actual cost = Actual cost of Activity A + Actual cost of Activity B + Actual cost of Activity C
Actual cost = $150 + $400 + $200
Actual cost = $750
Cost performance Index = Earned value / Actual cost
Cost performance Index = $600 / $750
Cost performance Index = 0.80
Cost performance Index = 80%
Estimate at completion = Budget at completion / Cost performance Index
Estimate at completion = $1,100 / 0.80
Estimate at completion = $1,375
TeleGlobal is an American firm producing TV sets. TeleGlobal imports TV set components from India and assembles them domestically. Suppose that in the United States, a TV set sells for $400 and that 80% of the TV set’s value comes from the value of the imported components. The United States imposes a 40% tariff on TV sets and a 10% tariff on the TV set’s components. Assume that costs of producing components are the same in the United States and India and that transit costs are nonexistent. Based on the information provided, the effective rate of protection that TeleGlobal receives from the tariff is
Answer:
135 %
Explanation:
Given that,
The selling price of T.V. set in the U.S. = $400
The Tariff imposed on T.V. sets = 30%
The Tariff on its imported components = 10%
To find,
The effective rate of protection gained from tariff = ?
Method:
As we know
Effective rate of protection
= tariff on finished imported good + cost/price of its components * (tariff on imported good - tariff on components imported)/(price of final good - price of its components)
So, by putting the given values in above formulae;
= 40% + 80% of 400 * (40% - 10 %)/(400 - 80% of 400)
= 40 + 320 * (30)/(400 - 320)
= 360 * 30/(80)
= 360 * 30/80
= 135%
The difference between the amount received from issuing a note payable and the amount repaid at maturity is referred to as:
Answer: interest
Explanation:
Notes payable occurs when a promissory note is issued to the bearer by the firm. Notes payable can either be short term which is within a year or long term which is more than a year.
The difference between the amount received from issuing a note payable and the amount repaid at maturity is known as the interest.
How does the design demonstrate the ability to analyze, research, and explore a variety of information sources to adequately address how the target market might interpret a designmessage
Answer:
Design should be analyzed, explored and researched carefully so that it adequately targets the audience.
Explanation:
A design has the ability o inclines people's decisions and allows for interpretation. The design is can be used to tell whether the product is going to stay in the market and helps in the identification of the target audience. The market can interpret the message in design in various ways such as by positive and negative. Thus design should be made keeping in mind the ethics and characteristics of the object. Design should match the traits of people.Company xyz made the following transactions 6 marks
Borrowed loan of ksh 50000 to start a business
Obtained Ksh 150,000 in cash from proceeds of sales
Paid out ksh 240000 in form of salaries
Purchased Ksh 600000 worth of machinery in cash
Purchased a track valued at Ksh 1, 500 000 by paying Ksh 300000 in cash and getting a
loan for the reminder
Paid rent of rent of Ksh 80000 and advertising of ksh 50,000 in cash each
Determine the value of the company’s assets, liability and equity
Answer:
Company XYZ
Total assets ksh 1,030,000
Total liabilities ksh 1,250,000
Total equity ksh (220,000)
Explanation:
a) Data and Analysis:
Cash ksh 50,000 Loan payable ksh 50,000
Cash ksh 150,000 Sales revenue ksh 150,000
Salaries expense ksh 240,000 Cash ksh 240,000
Equipment ksh 600,000 Cash ksh 600,000
Track ksh 1,500,000 Cash ksh 300,000 Loan payable ksh 1,200,000
Rent Expense ksh 80,000 Advertising Expense ksh 50,000 Cash ksh 130,000
Assets:
Cash ksh 50,000
Cash ksh 150,000
Cash ksh (240,000)
Equipment ksh 600,000
Cash ksh (600,000)
Track ksh 1,500,000
Cash ksh (300,000)
Cash ksh (130,000)
Total assets ksh 1,030,000
Liabilities:
Loan payable ksh 50,000
Loan payable ksh 1,200,000
Total liabilities ksh 1,250,000
Equity:
Sales revenue ksh 150,000
Salaries expense ksh (240,000)
Rent Expense ksh (80,000)
Advertising Expense ksh (50,000)
Total equity ksh (220,000)
Organizational learning and creativity play an important role in helping managers improve their decisions. Managers must take steps to promote organizational learning and creativity at individual as well as group levels to improve the quality of decision making. Managers can encourage and promote entrepreneurship that mobilizes resources to take advantage of an opportunity to provide customers with new or improved goods and services. The quality of managerial decision making ultimately depends on innovative responses to opportunities and threats. How can managers increase their ability to make nonprogrammed decisions that will allow them to adapt to, modify, and even drastically alter their task environments so they can continually increase organizational performance
Answer:
Organization learning is the process by which the managers seeks employees desires and ability to understand the task environment.
Explanation:
Organizational learning plays an important role in managers by raising their ability to make programmer decisions that will allow them by adapting to, modifying, and even alter their work environment. Creativity helps managers in thinking and problem solving.What is the reasoning behind having the seven Fed Board of Governors remain for 14 years on the Federal Reserve?
a) Participating in the Fed for the 14 year time period allows the board members to build up seniority and on-the-job understanding
b) Longer terms for board members fosters longer relationships and builds strong networks to push through financial changes to the economy.
c) The longer terms are to insulate the members from immediate political pressures and have them focus solely on economic solutions for the nation.
Answer: c) The longer terms are to insulate the members from immediate political pressures and have them focus solely on economic solutions for the nation.
Explanation:
The Fed is independent of the U.S. Government but can still face significant pressure from the U.S. Government as it is the President that nominates the Board of Governors and the Senate confirms them.
Much like Justices on the Supreme Court who get their positions the same way, these governors have to be protected from being used as political pawns so they are given long terms in office to ensure that they can pursue an independent policy without having to worry about the current administration coming after them if they go contrary to its will.
You are considering purchasing a house in Collin County that costs $350,000. You are debating whether to finance the house for 15 or 30 years. The 15-year mortgage allows you to pay off the house quicker at an interest rate of 2%. However, the 30-year mortgage offers a lower mortgage payment at an interest rate of 2.75%. Which of the following answers is closest to the difference between the 15 and 30-year monthly mortgage payment?
a. 800
b. 600
c. 400
d. 1200
e. 1000
Answer:
d
Explanation:
i believe this should be correct
Your product Belch has an actual market share of 14.2%, and a potential market share of 17.6%. The most likely scenario to explain this situation is:
Answer: Your budget for sales and promo are excessive, and you reached diminishing returns on your spend.
Explanation:
You can check the options online.
The market share refers to the percentage of total sales that is generated by a company in an industry.
If the potential market share is higher than the actual market share, the reason for this will be due to the fact that the budget for sales and promo are excessive, and you reached diminishing returns on your spend.
When the interest rate in an economy decreases, it is likely the result of either a/an ________ or a/an ________.
Answer:
expansionary practice; open market purchase of securities by the Fed.
Explanation:
Fiscal policy in economics refers to the use of government expenditures (spending) and revenues (taxation) in order to influence macroeconomic conditions such as Aggregate Demand (AD), inflation, and employment within a country. Fiscal policy is in relation to the Keynesian macroeconomic theory by John Maynard Keynes.
A fiscal policy affects combined demand through changes in government policies, spending and taxation which eventually impacts employment and standard of living plus consumer spending and investment.
Basically, an expansionary fiscal policy will cause the total increase in aggregate demand to be greater than the initial increase in aggregate demand due to the multiplier process.
Hence, when the interest rate in an economy decreases, it is likely the result of either an expansionary practice or an open market purchase of securities by the Federal Reserve System (Fed).
According to the Keynesian theory, government spending or expenditures should be increased and taxes should be lowered when faced with a recession, in order to create employment and boost the buying power of consumers
Assume Sheryl Jenkins wants to accumulate $ 13,241.39 in two years. She currently has $ 10,621.36 to invest. What interest rate must she earn on her investment (that is, if she deposits $ 10,621.36 today) to have $ 13,241.39 exactly two years from today?
Answer: 11.65%
Explanation:
The $13,241.39 is a future value amount as it is what is to be accumulated in 2 years.
Future value formula therefore applies:
Future value = Current value * ( 1 + interest rate) ^ no. of years
13,241.39 = 10,621.36 * ( 1 + i) ²
(1 + i)² = 13,241.39 / 10,621.36
(1 + i)² = 1.24667556697
1 + i = √1.24667556697
i = 1.116546267 - 1
i = 11.65%
Equivalent Units of Materials Cost The Filling Department of Eve Cosmetics Company had 4,500 ounces in beginning work in process inventory (90% complete). During the period, 74,900 ounces were completed. The ending work in process inventory was 3,700 ounces (40% complete). What are the total equivalent units for direct materials if materials are added at the beginning of the process? fill in the blank 1 units
Answer: 74,100 units
Explanation:
If the materials are added at the beginning of the process then the opening work in process inventory would need to be deducted from the completed inventory for the period. Also there would be no need to multiply the units by their completion level because they are assumed to be at 100% completion because materials were added at the very beginning.
Total equivalent units for direct materials is:
= (Completed units - Opening inventory) + Closing work in process
= (74,900 - 4,500) + 3,700
= 74,100 units
