Answer:
6-May-18
Dr Accounts receivables $102,000.00
Cr To Sales revenue $102,000.00
1-Jul-18
Dr Note receivables $18,000.00
Cr To Cash $18,000.00
31-Dec-18
Dr Interest receivables $630.00
Cr To Interest revenue $630.00
1-Jul-19
Dr Cash $19,260.00
Cr To Interest revenue $630.00
Cr To Interest receivables $630.00
Cr To Note receivables $18,000.00
Explanation:
Preparation of the journal entries required for Endurance Running Shoes.
6-May-18
Dr Accounts receivables $102,000.00
Cr To Sales revenue $102,000.00
(To record sales revenue)
1-Jul-18
Dr Note receivables $18,000.00
Cr To Cash $18,000.00
(Being loan given)
31-Dec-18
Dr Interest receivables ($18,000*7%*6/12) $630.00
Cr To Interest revenue $630.00
(To record interest accrued)
1-Jul-19
Dr Cash $19,260.00
($18,000+$630+$630)
Cr To Interest revenue $630.00
Cr To Interest receivables $630.00
($18,000*7%*6/12)
Cr To Note receivables $18,000.00
(To record receipt of note at maturity)
Many economists oppose a constitutional amendment that would require a balanced budget for the federal government because it would probably make the business cycle more volatile.
a. True
b. False
Answer:
The statement is False.
Explanation:
What is a constitutional balanced budget amendment?The balanced budget amendment's requirement that total government spending cannot exceed total receipts collected in the same year has far-reaching ramifications for Social Security.
What is Balanced Budget?A balanced budget is one in which total revenues equal or exceed total costs. After a full year of revenues and expenses have been incurred and recorded, a budget can be declared balanced. Budget deficits, according to proponents of a balanced budget, burden future generations with debt.
Example of Balanced Budget-If Michael and Jessica earn $75,000 per year but spend only $70,000, they have a balanced budget because their expenses are equal to or less than their income. They can use the extra $5,000 in their budget to pay off debt or meet their savings goals in this situation.
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Supriya invested $14,320 in a highly rated ETF. At the end of four years, she had $18,434. What was her annual effective yield on this investment
Answer:
6.517%
Explanation:
Present Value PV = $14,320
Future Value FV = $18,434
Number of period Nper = 4
Annual effective yield = Rate(Nper, Pmt, Pv, -Fv)
Annual effective yield = Rate(4, 0, 14320, -18434)
Annual effective yield = 0.06517
Annual effective yield = 6.517%
On December 30, you decide to make a $2,500 charitable donation. (Assume you itemize your deductions.) (a) If you are in the 24 percent tax bracket and you expect to itemize your deductions, how much will you save in taxes for the current year
Answer:
$600
Explanation:
Calculation to determine how much will you save in taxes for the current year
Using this formula
Tax savings = Tax rate × Tax deduction
Let plug in the formula
Tax savings= 0.24 × $2500
Tax savings =$600
Therefore how much will you save in taxes for the current year is $600
An example of fast tracking a project schedule would be to overlap the design and production phases for a design-to-production project, where the conventional approach would be to move on to construction only after completing the design phase.
a. True
b. False
Answer:
a. True
Explanation:
Project management can be defined as the process of designing, planning, developing, leading and execution of a project plan or activities using a set of skills, tools, knowledge, techniques and experience to achieve the set goals and objectives of creating a unique product or service.
Generally, projects are considered to be temporary because they usually have a start-time and an end-time to complete, execute or implement the project plan.
Furthermore, the main purpose of project management is working toward a common goal.
This ultimately implies that, project managers should ensure adequate attention and time is taken to identify, analyze and manage capital, raw materials, people, system of tasks and other resources, so as to effectively and efficiently achieve a common goal with all project stakeholders.
The fundamentals of Project Management includes;
1. Project initiation
2. Project planning
3. Project execution
4. Monitoring and controlling of the project.
5. Adapting and closure of project.
In the execution of a project, delaying a task normally affects the start or finishing time of the other tasks (successors) in a project.
The amount of time that is permitted for an activity to be delayed without delaying the early start date of any immediately following (succeeding) activities refers to the free slack or having an adverse effect on entire project.
A project schedule can be defined as a plan that comprises of the deliverables, activities and milestones with respect to a project, especially by including the intended start and finish dates.
The time for the implementation or execution of a project can be fast-tracked by a project manager.
For example, you can fast-track a design-to-production project by overlapping the design and production phases; especially by moving on to construction only after completing the design phase.
Managerial implications for the SDT theory include: Group of answer choices to motivate high performance for uninteresting jobs make performance contingent on extrinsic rewards. All of these. to motivate high performance for uninteresting jobs make performance contingent on intrinsic rewards. focus on the hygiene factors in order to reduce dissatisfaction and increase intrinsic motivation to enhance intrinsic motivation for interesting jobs be sure individuals receive large pay bonuses for high achievement
Answer:
to motivate high performance for uninteresting jobs make performance contingent on extrinsic rewards.
Explanation:
Extrinsic rewards means the motivation i.e. controlled and produced via payment, awards and appreciations. In the case when the job is not interesting so the motivation level should be high in this situation and when the job is interesting the motivation level should not high
So as per the given situation, the above statement should be considered as an answer
Which of the following is NOT an accurate description of modern marketing?
Marketing involves managing profitable customer relationships.
Marketing involves satisfying customers' needs.
O Marketing is the creation of value for customers.
Marketing emphasizes selling and advertising exclusively.
O Marketing is building value-laden exchange relationships with customers.
I'm stuck between
Marketing is the creation of value for customers and
Marketing emphasizing selling and advertising exclusively l.
E Corporation produces a single product. The cost of producing and selling a single unit of this product at the company's normal activity level of 54,000 units per month is as follows: Per Unit Direct materials $ 49.60 Direct labor $ 9.50 Variable manufacturing overhead $ 2.50 Fixed manufacturing overhead $ 20.10 Variable selling & administrative expense $ 4.60 Fixed selling & administrative expense $ 22.00 The normal selling price of the product is $114.10 per unit. An order has been received from an overseas customer for 3,400 units to be delivered this month at a special discounted price. This order would not change the total amount of the company's fixed costs. The variable selling and administrative expense would be $2.60 less per unit on this order than on normal sales. Suppose there is ample idle capacity to produce the units required by the overseas customer and the special discounted price on the special order is $90.40 per unit. The monthly financial advantage (disadvantage) for the company as a result of accepting this special order should be:
Answer: $91120
Explanation:
The The monthly financial advantage (disadvantage) for the company will be calculated thus:
Incremental revenue = (3400 × $90.40) = $307360
Less: Incremental Cost
Direct material (3400 × $49.60) = $168640
Direct labor (3400 × $9.5) = $32300
Variable manufacturing overhead = (3400 × $2.5) = $8500
Variable selling & administrative expense = (3400 × $2) = $6800
Total incremental Cost = $216240
Therefore, the monthly financial advantage will be:
= $$307360 - $216240
= $91120
A company using the FIFO method had beginning work in process inventory of 10,000 units and completed 75,000 units. They also had 5,000 units in ending work in process inventory. The number of units started and completed equals_________
Answer:
the number of units started and completed is 65,000 units
Explanation:
The computation of the number of units started and completed is given below:
= Units completed - beginning work in process inventory units
= 75,000 units - 10,000 units
= 65,000 units
Hence, the number of units started and completed is 65,000 units
Assume that as their leader, you wanted to influence minimum wage earners in a plastic bottle recycling center to work faster. Which one or two influence tactics are likely to be effective
Answer:
An effective leader is one who is able to influence his team through his communication and interpersonal skills.
In order to achieve greater speed and productivity at work, some influencing tactics that can be effective in a recycling center where workers earn a minimum wage may be associated with the leader's ability to empathize with the team, recognizing the difficulties and challenges of the work, but acting in a comprehensive, ethical way and helping them in their demands, exercising practical leadership, where the leader is the first to set a positive example of what he wants to achieve.
Suppose Cute Camel Woodcraft Company is evaluating a proposed capital budgeting project (project Alpha) that will require an initial investment of $400,000. The project is expected to generate the following net cash flows:
Year Cash Flow
Year 1 $325,000
Year 2 $500,000
Year 3 $400,000
Year 4 $475,000
Cute Camel Woodcraft Company's weighted average cost of capital is 8%, and project Alpha has the same risk as the firm's average project. Based on the cash flows, what is project Alpha's net present value (NPV)?
Answer:
$996,267.41
Explanation:
The Net Present Value of Alpha`s project can be determined by using the CFj Function of a Financial Calculator as follows :
- $400,000 CF0
$325,000 CF1
$500,000 CF2
$400,000 CF3
$475,000 CF4
I/YR = 8%
Then, SHIFT NPV gives $996,267.41
Thus, Alpha's net present value (NPV) is $996,267.41.
In the 2008 global financial crisis, many investors considered the US economy a safe place to move their assets What is the predicted impact of this inflow of financial capital to the US, which is a large, open economy, on the US interest rate and the US exchange rate, holding other factors constant Illustrate your answer graphically and explain in words.
Answer:
Good for US interest rate and the US exchange rate.
Explanation:
The predicted impact of this inflow of financial capital to the United states of America is good for the economy as well as for US interest rate and the US exchange rate when the movement of assets occur to the United states of America. The economy of the United states of America gets to be better due to this action of investors. This 2008 global financial crisis greatly damaged the economy of United states of America so this action bring some betterment in the economy.
In this market, the equilibrium hourly wage is $ , and the equilibrium quantity of labor is thousand workers. Suppose a senator introduces a bill to legislate a minimum hourly wage of $6. This type of price control is called a .
Answer:
The equilibrium hourly wage is the wage where the curve of supply of labor intersects with that of the demand for labor. The same goes for the equilibrium quantity of labor.
The equilibrium hourly wage is $10, and the equilibrium quantity of labor is 450 thousand workers.
If a Senator introduces a minimum hourly wage, this is considered a Price Floor.
Price floors are prices that that the government mandates that one cannot charge below for a good or service. If there is a price floor on cake for instance, a person is not allowed to charge less than that price floor for cake. The Senator's bill is therefore saying that people should not be paid less than $6 an hour.
One of the growers is excited by the price increase caused by the blight because he believes it will increase revenue in this market. As an economics student, you can use elasticities to determine whether this change in price will lead to an increase or decrease in total revenue in this market.Using the midpoint method, the price elasticity of demand for soybeans between the prices of
Full question attached
Answer:
Not elastic
Explanation:
The formula for demand elasticity= percentage change in quantity/percentage change in price
Therefore demand elasticity = Q2-Q1/Q2+Q1/2/P2-P1/P2+P1/2
Using graph of demand attached
= 12-15/12+15/2/21-15/21+15/2
= -3/27/2/6/36/2
=-2/9/1/3
=-2/3
=-0.67
Elasticity is less than one and so demand is inelastic
At the end of business on September 1, the total displayed on the cash register tape shows $1,059 of cash sales for the day. However, when the clerk and the supervisor count the cash in the register, the count reveals that $1,050 was actually collected from customers.
Complete the journal entry.
Answer:
Date Account Title Debit Credit
Sept. 1 Cash $1,050
Cash short and over $ 9
Sales $1,059
Cash short and over is calculated thus:
= 1,059 - 1,050
= $9.00
Bims Corporation uses the weighted-average method in its process costing system. The Assembly Department started the month with 2,400 units in its beginning work in process inventory that were 70% complete with respect to conversion costs. An additional 62,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 20,000 units in the ending work in process inventory of the Assembly Department that were 60% complete with respect to conversion costs. What were the equivalent units for conversion costs in the Assembly Department for the month
Answer:
56,400 units
Explanation:
The computation of the equivalent units for conversion costs in the Assembly Department is given below:
But the transferred units is
= Beginning work in process inventory units + additional units - ending work in process inventory units
= 2,400 units + 62,000 units - 20,000 units
= 44,400 units
Now the equivalent units for conversion costs equal to
= Transferred units × percentage of completion + ending work in process inventory units × percentage of completion
= 44,400 units × 100% + 20,000 units ×60%
= 44,400 units + 12,000 units
= 56,400 units
Compute a three-period moving average forecast given demand for shopping carts for the last five periods. (Round all your answers to two decimal points.) Period Demand 1 58 2 54 3 60 4 53 5 63
Answer:
Computation of a Three-Period Moving Average Forecast
Period Demand 3-period moving average
1 58
2 54
3 60 57.33
4 53 55.67
5 63 58.67
Explanation:
a) Data and Calculations:
Period Demand 3-period moving average
1 58
2 54
3 60 57.33 (58 + 54 + 60)/3
4 53 55.67 (54 + 60 + 53)/3
5 63 58.67 (60 + 53 + 63)/3
b) The three-period moving average is computed by summing the demand for periods 1, 2, and 3 and dividing it by 3. The result becomes the moving average for period 3. This process is repeated by eliminating the first one and adding the next number until the end.
A cleaning product company is having trouble with the pH control of one of their products. The product should be slightly basic but the pH is too high. What could the company try to correct the pH of the product
Answer:
sodium hydroxide to raise and acidic solutions to drop ph
Explanation:
how to lower and make highee
The CEO of Kwikee Shoppe, a chain of convenience stores, believes that some of his managers aren’t making decisions as effectively as they could. He has hired you as a consultant to analyze the types of bias that could be causing poor decisions. If you can identify the biases that may cloud their judgment, then they can be made aware of these tendencies so they can improve their performance. You gather data about Kwikee Shoppe managers’ most recent decisions.
Stella is in charge of the western region, and she has a strong track record of opening new stores that perform well and closing stores that could not contribute satisfactorily to the bottom line. Lately, however, many of her new stores have had below average performance, and she has closed some stores that probably could have been turned around by putting a different store manager in charge, advertising more, or offering more specials on popular products. Nonetheless, Stella knows that she is great at her job. Which of the following would not be a way for Stella overcome this bias?
A. Consult with other regional managers for their opinion before closing stores.
B. Before closing a store, replace the manager with one from a successful store and revisit the decision in 90 days.
C. Create a checklist of items to ask before closing stores, providing weights to each item based on their importance.
D. Focus on the stores that she closed that would not have improved with a different manager in place, additional advertising, or sales.
Answer:
Kwikee Shoppe
The way that Stella would overcome this bias is:
D. Focus on the stores that she closed that would not have improved with a different manager in place, additional advertising, or sales.
Explanation:
The other listed actions would enable Stella to overcome her personal bias, which may be clouding her sense of judgment. The focus on the stores that she had closed would only puff her ego instead of reducing bias. To focus on the past when Stella is proud of her achievements cannot allow her to objectively review the situation in order to improve on her decisions and performance.
Suppose you borrow at the risk-free rate an amount equal to your initial wealth and invest in a portfolio with an expected return of 16% and a standard deviation of returns of 20%. The risk-free asset has an interest rate of 4%. Calculate the expected return on the resulting portfolio.
Answer: 28%
Explanation:
First, we have to make an assumption that the initial wealth is 100, then the weight of the risk free asset will be:
= Amount invested in risk free / Initial wealth
= -100/100
= -1
The weight of the portfolio will be calculated as:
= 1 - weight of risk free asset
= 1-(-1)
= 1 + 1
= 2
Therefore, the expected return on the resulting portfolio will be:
= 2 × 16 + [(-1) × 4]
= 32 - 4
= 28
Which of the strategies to enter global markets do you think would be best for a small, 100 person company manufacturing special dog collars
Answer:
Exporting by means of:
Local representative Online salesExplanation:
It would be best that the company engages in exports for the time being because it dos not require much funds to be used and so expenses are less.
The company could find a local representative in the countries that it would like to sell to and use that representative as a middleman to sell their goods there.
The company could also cut out the middle man and directly sell to consumers on the internet through websites dedicated to the sale of their kind of goods.
A company receives a 10%, 90-day note for $2,700. The total interest due on the maturity date is: (Use 360 days a year.)
Answer:
Interest amount = $67.5
Explanation:
Use the below formula to find the interest amount:
Interest amount = The value of note x Interest rate x (90 / 360)
Given value of note = $2700
Interest rate = 10%
Time = 90/360
Now plug the value in the above formula and solve for the interest due:
Interest amount = The value of note x Interest rate x (90 / 360)
Interest amount = 2700 x 10% x (90 / 360)
Interest amount = $67.5
If the substitution effect of the real interest rate on saving is larger than the income effect of the real interest rate on saving, then a rise in the real interest rate leads to a ________ in consumption and a ________ in saving, for someone who's a lender.
Answer:
rise, fall
Explanation:
In the case when the subsitution effect with respect to the real rate of interest should be saved and more than the income effect on the real rate of interest so if there is an increased in the real rate of interest so there is an increase in the consumption also there is the fall in the savings
Also, if there is a more income effect, the consumption should rise and the savings would decline
Therefore the rise and fall should be considered to fill the blanks
Amanda is playing a game of chance in which she rolls a number cube with sides numbered from to 1 to 6. The number cube is fair, so a side is rolled at random. This game is this: Amanda rolls the number cube once. She wins $1 if a 1 is rolled, $2 if a 2 is rolled, $3 if a 3 is rolled, and 4 if a 4 is rolled. She loses $0,50 if a 4, 5 or 6 is rolled.
(a) Find the expected value of playing the game.
(b) What can Elsa expect in the long run, after playing the game many times?
1) Elsa can expect to gain money. She can expect to win__dollars per roll.
2) Elsa can expect to lose money. She can expect to lose___dollars per roll.
3) Elsa can expect to break even (neither gain nor lose money).
Answer:
a. 0.75
b. elsa can expect to gain money. 0.75$
Explanation:
x = 1/6 = 0.166667
given an outcome of 1,
1$ win * 0.166667 = 0.166667
given an outcome of 2,
$2 win * 0.166667 = 0.33333
given an outcome of 3,
$3 win*0.166667 = 0.5
remember that if she has an out come of 4, 5 and 6 she loses 0.5 dollars
given an outcome of 4,
-$0.5 * 0.166667 = -0.083333
given an outcome of 5,
-$0.5 * 0.166667 = -0.083333
given an outcome of 6,
-$0.5 * 0.166667 = -0.083333
The expected value of playing the game = 0.166667+0.333333+0.5-0.083333-0.083333-0.083333
= 0.750001
expected value of plying game = 0.75
b. in the long run, after playing the game many times, Elsa can expect to gain money. she can expect to win 0.75$ per role. option 1
Alternative Financing Plans
Owen Co. is considering the following alternative financing plans:
Plan 1 Plan 2
Issue 7% bonds (at face value) $5,000,000 $3,400,000
Issue preferred $1 stock, $20 par — 3,600,000
Issue common stock, $25 par 5,000,000 3,000,000
Income tax is estimated at 40% of income.
Determine the earnings per share of common stock, assuming income before bond interest and income tax is $750,000.
Enter answers in dollars and cents, rounding to the nearest whole cent.
Plan 1 $_____________________ Earnings per share on common stock
Plan 2 $_______________________ Earnings per share on common stock
Answer:
Owen Co.
Alternative Financing Plans
Plan 1 Plan 2
Earnings per share $1.20 $1.06
Explanation:
a) Data and Calculations:
Plan 1 Plan 2
Issue 7% bonds (at face value) $5,000,000 $3,400,000
Issue preferred $1 stock, $20 par — 3,600,000
Issue common stock, $25 par 5,000,000 3,000,000
Income tax is estimated at 40% of income.
EBIT = $750,000 $750,000
Interest on bonds 350,000 238,000
Income before taxes $400,000 $512,000
Income tax 160,000 204,800
Net income $240,000 $307,200
Preferred dividend - $180,000
Earnings available to common
stockholders $240,000 $127,200
Outstanding shares 200,000 120,000
Earnings per share $1.20 $1.06
$1.20 ($240,000/200,000) $1.06 ($127,200/120,000)
Preferred stock dividend rate = 5% ($1/$20 * 100)
Preferred stock dividend = $180,000 ($3,600,000/$20 * $1)
or 5% of $3,600,000
Llewelyn Company purchased 1,000 shares of its own $10 par value common stock when the market price of the stock was $36 per share. What journal entries would be used to record the purchase of treasury stock?
Answer: Increase the treasury stock account and decrease the cash account by $36,000.
Explanation:
The journal entries that would be used to record the purchase of treasury stock will be to increase the treasury stock account and decrease the cash account by $36,000.
Note that the $36000 was calculated as:
= 1,000 shares × $36 per share
= $36,000
True or False: It was better for the united states not to receive this foreign investment because it decreases economic growth
Answer:
False
Explanation:
When the foreign investment should received so it generally complement the capital stock of the domestic one. ALso, the foreign investment includes both macro and micro impact. Like for macro, it is good for export, imprort and for micro it improved the labor force quality
So it increased the capital and the new business opportunities
Therefore the given statement is false
A factory wishes to maximize its profit by choosing how many of each of its products to produce every week. The factory cannot produce more than 32 units in total each week. A linear programming problem is formed and the part of the sensitivity report corresponding to this constraint is provided below. If the company could produce 10 more units each week, which of the following can be concluded about the optimal profit?
Nam Final Value Shadow Constraint R.H. Allowable Allowable
Price Side Increase Decrease
Total
Production 32 32 90 15.333 8.667
a. Optimal profit increases by 90.
b. Optimal profit increases by 900.
c. Optimal profit increases by 15.3.
d. Optimal profit increases by 153.3.
e. The impact on optimal profit cannot be determined with the given information.
A bond that pays interest semiannually has a price of $941.35 and a semiannual coupon payment of $26.00. If the par value is $1,000, what is the current yield
Answer:
5.52%
Explanation:
Calculation to determine the current yield
Current yield = ($26.00 × 2)/$941.35
Current yield=$52/$941.35
Current yield= .0552*100
Current yield= 5.52%
Therefore the Current yield is 5.52%
One of the best sources of precall information is a prospect's own salespeople because they empathize with the salesperson's situation.
a. True
b. False
Answer:
a. True
Explanation:
In the case when the information is precalled so here the sources that considered to be best should be the own salespeople as it would emphathize the situation of the sales person
So as per the given situation, the given statement is true
Hence, the option a is correct
Therefore, the second option is wrong
Resource X is necessary to the production of good Y. If the price of resource X falls, the equilibrium price of Y will ______________ and the equilibrium quantity of Y will ________________.
Answer:
fall
rise
Explanation:
If the cost of resource x falls, it becomes cheaper to produce good y. This leads to an increase in supply of y. the supply curve of good y shifts out. As a result, equilibrium price falls and quantity rises
