Answer:
The accounting equation holds as follows:
Assets = Liabilities + Shareholders' Equity = $102,000
Explanation:
Note: This question not complete as the requirement is omitted. The requirement is therefore provided to complete the question before answering the question as follows:
Required:
Record the preceding transactions in the horizontal statements model. Also, in the Cash Flows column, classify the cash flows as operating activities (OA), investing activities (IA), or financing activities (FA).
The explanation of the answer is now provided as follows:
Note: See the attached excel file for the the horizontal statements in which the transactions are recorded.
From the attached excel file, we have:
Assets = Cash + Land = $49,000 + $53,000 = $102,000
Liabilities = Notes Payable = $30,000
Shareholders' Equity = Common Stock + Retained Earnings = $50,000 + $22,000 = $72,000
Liabilities + Shareholders' Equity = $30,000 + $72,000 = $102,000
Therefore, the accounting equation holds as follows:
Assets = Liabilities + Shareholders' Equity = $102,000
Also note that no figure is recorded for "Determined that the market value of the land is $75,000" because it does affect the horizontal statement since an asset must be recorded at the historical cost.
Ludwig borrowed $700,000 for a
period of 2 years. His interest rate is
10%. How much interest will
Ludwig pay in all?
$[?]
Answer:
$140000
Explanation:
Principle = $700000
Rate = 10%
Time = 2 years
Simple interest = P x R x T / 100
Simple interest = 700000 x 10 x 2 / 100
Simple interest = 70000 x 2
Simple interest = $140000
Leo's Lawncare purchased equipment on January 1. The cost was $15,000, and the equipment had a residual value [salvage value] of $5,000. The equipment was given a useful life of 10 years. After the end of two years, it was determined that the equipment would be obsolete in 5 more years and the residual value would still be $5,000. What will be the depreciation under the straight-line method to the nearest dollar be for the third year
Answer:
$1,600
Explanation:
The computation of the depreciation expense for the third year is shown below:
The yearly depreciation expense is
= ($15,000 - $5,000) ÷ $10
= $1,000
For two years is should be
= $1,000 × 2
= $2,000
Now the depreciation expense for the third year is
= ($15,000 - $2,000 - $5,000) ÷ 5 years
= $1,600
Whenever Josh goes to his favorite restaurant, he wants to buy tiramisu, his favorite dessert. Despite the fact that he would enjoy the flavor of the tiramisu the same amount every time, Josh only buys it when others are having dessert and never buys it if he would be the only one having dessert. Behavioral economists would say that Josh's decision is affected by confirmation biases. framing effects. the self-serving bias. the availability heuristic.
Answer:
Framing effects.
Explanation:
Framing effect in psychology is the cognitive bias whereby an individual makes decisions based more on the information presented than on one's own choice. In other words, when someone makes a decision that is influenced more by the effects of the information on others than on one's own opinions.
In the given scenario, Josh's decision to have tiramisu only when others are having dessert and not if he would be the only one having dessert is affected by the framing effect. This is because his decision is influenced by the way others behave rather than his desire to eat even his favorite dessert.
Thus, the correct answer is the framing effect.
Which of these correctly describes the statute of limitations as it applies to real estate? Unset starred question A wronged party can initiate a court action at any time after closing but before reselling the property. The buyer has the time between the inspection and closing to initiate a court action against the seller. There’s a time limit for a wronged party (buyer or seller) to initiate a court action. The seller has a limited time after closing to disclose any known defects with the property.
Answer:
There’s a time limit for a wronged party (buyer or seller) to initiate a court action.
Explanation:
The best statement that correctly describes the statute of limitations as it applies to real estate is the "There’s a time limit for a wronged party (buyer or seller) to initiate a court action."
This is evident in the fact that depending on the bone of contention or the main issues, there are certain but limited times required for the wronged party to go through litigation to resolve the issue.
For example in California, United States, there are Six Primary Statutes of Limitation apply in Real Estate Sales Transactions and Litigation and each has limited time with 4years of Limitations for Breach of Contract, and 2 years for Limitations for Actions Against a Real Estate Broker Agent, etc.
Eloise, a medical equipment sales rep, purchases a quick snack to eat on the way to work. She buys lunch while on the road visiting customers, and grabs bread and milk on the way home when she stops to buy gas. Eloise probably does the majority of this shopping at a
Answer:
convenience store
Explanation:
A convenience store is a retail store that usually sells a large range of everyday items to customers.
The amounts of these products are usually in small amounts (not wholesale).
Items sold could include drinks, coffee, snacks, over the counter drugs, milk, bread, and so on.
In the given scenario Eloise purchases a quick snack, lunch, bread,, milk, and gas during the day.
She is most likely making purchases from a convenience store
ASAP PLEASEEE!!! If the price level were to rise from 160 to 200, in what direction and by how much would the value of a dollar change?
Answer:
- Downward direction
- The change in dollar value is 0.00125
Explanation:
Given
[tex]P_1 = 160[/tex]
[tex]P_2 = 200[/tex]
Required
Direction and value of dollar change
Value is calculated using
[tex]V = \frac{1}{P}[/tex]
When [tex]P_1 = 160[/tex], the value is:
[tex]V_1 = \frac{1}{160}[/tex]
[tex]V_1 = 0.00625[/tex]
When [tex]P_2 = 200[/tex], the value is:
[tex]V_2 = \frac{1}{200}[/tex]
[tex]V_2 = 0.005[/tex]
So, we have:
[tex]V_1 = 0.00625[/tex]
[tex]V_2 = 0.005[/tex]
Notice that [tex]V_1 > V_2[/tex]
i.e. the initial value is greater than the new value
Hence, the value of dollar moves down
The change in value is:
[tex]\triangle V = |V_2 - V_1|[/tex]
[tex]\triangle V = |0.005 - 0.00625|[/tex]
[tex]\triangle V = |- 0.00125|[/tex]
Remove absolute sign
[tex]\triangle V = 0.00125[/tex]
The change in dollar value is 0.00125
When money is used in a trade instead of the direct exchange of goods, it acts as a __________.
Answer:
bartar system
Explanation:
Barter is a system of exchange where goods or services are directly exchanged for other goods or services without using a medium of exchange, such as money. It is distinguishable from gift economies in many ways; one of them is that the reciprocal exchange is immediate and not delayed in time.
When money is used in a trade instead of the direct exchange of goods, it acts as a Barter system.
What is Barter System?The Barter System is the name given to a transaction in which two or more parties exchange equal-value products and services without the use of money.
Even though it is one of the oldest forms of commerce, people and businesses still use it to order products and services when they do not have enough cash or money to make purchases. A form of exchange called barter allows for the direct exchange of one commodity or service for another without the need of a medium of exchange like money. It differs from gift economies in a number of ways, one of which is that the reciprocal transaction takes place right away rather than later.
Learn more about Barter system here:
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Skysong Company is considering two capital investment proposals. Estimates regarding each project are provided below: Project Soup Project Nuts Initial investment $400000 $600000 Annual net income 18000 34000 Net annual cash inflow 96000 119000 Estimated useful life 5 years 6 years Salvage value 0 0 The company requires a 10% rate of return on all new investments. Present Value of an Annuity of 1 Periods 9% 10% 11% 12% 5 3.89 3.791 3.696 3.605 6 4.486 4.355 4.231 4.111 The annual rate of return for Project Soup is
Answer:
20%
Explanation:
Calculation to determine The annual rate of return for Project Soup is
Annual rate of return = [(Current Value of Investment - Initial Investment for one year )/Initial Investment for one year )]*100
Let plug in the formula
Annual rate of return= (($96000 - $80000) / $80000) * 100
Annual rate of return= ($16000 / $80000) *100
Annual rate of return= 20%
Workings:
Calculation to determine the Initial Investment for one year
Initial Investment for one year = $400000 / 5 year
Initial Investment for one year = $80000
Therefore The annual rate of return for Project Soup is 20%
Machvile Corporation, a robotics company, decides to acquire Chancera Inc., a start-up company that operates within the same industry. To better assess its decision, the management of Machvile Corporation needs to find out the value of Chancera Inc.'s total assets. The management has information regarding Chancera Inc.'s liabilities and stockholders' equity. In this scenario, the management should most likely use the _____ to get the required information.
Answer: Accounting equation
Explanation:
The accounting equation is a proposition or formula that accesses a company's assets by summing up it's equity and liabilities. It means that the equity of a company would equal it's assets minus liabilities.
Machvile Corporation can access properly the worth of Chancera Inc.'s by using the Accounting equation, weighing their assets and leaving out their liabilities.
If a business is using factors of production 100% efficiently, the plot will be on the curve. However, most business efficiency falls inside the
curve. Why is this?
A. They are not making efficient use of their factors
of production.
B. They are making over 100% efficient use of their
factors of production.
C. They are making inequitable use of their factors
of production.
Answer: A. They are not making efficient use of their factors of production.
Explanation:
Production Possibilities Curve helps in capturing opportunity cost and scarcity when an economy produces two goods or services.
It should be noted that the points on the interior of the PPC simply means that the economy is inefficient. The points on the PPC implies that the economy is efficient, while the points beyond the PPC simoky means that they are unattainable.
Based on the question, the production points inside the curve simply implies that the economy isn't producing at its comparative advantage, and therefore, they are not making efficient use of their factors of production.
Which of the following is the best example of the use of automation?: (A) A garment sewn by an operator at a sewing machine. (B) A letter written by a secretary using a computer. (C) An automobile painted by a computer-directed robot on an assembly line. (D) A medical assistant drawing blood from a patient's arm.
Answer:
c
Explanation:
no humans
In Sam's greenhouse operation, labor is the only short term variable input. After completing a cost analysis, if the marginal product of labor is the same for each unit of labor, this will imply that
A. the average product of labor is always equal to the marginal product of labor.
B. the average product of labor is always greater that the marginal product of labor.
C. the average product of labor is always less than the marginal product of labor.
D. as more labor inputs are used, the average product of labor inputs will fall.
Answer:
i think the answer is C. the average product of labor is always less than the marginal product of labor.
Explanation:
:)
which of the following strategies for conflict managment assumes that many conflicts are win-win conflicts
Answer: resolving
Explanation:
Conflict resolution refers to the process whereby two or more parties find a peaceful solution to a conflict. There are several ways to resolve conflict such as arbitration, negotiation, and mediation.
Resolving of a conflict is a win-win situation for both parties. This is because both parties eventually have a satisfactory outcome.
Aesha works for a moderately priced running shoe manufacturer and while their products are lower in cost, there is a high degree of consumer pressure to create the best quality running shoes possible and to constantly innovate with new designs. Which aspect of Porter’s Diamond does this demonstrate
Answer:
Demand conditions
Explanation:
Demand conditions means the size and the nature of the customer base for the products that could result in innovation and the improvement related to the product.
Since in the given situation it is mentioned that their products contains less cost but they develop the best quality shoes also they innovate the products from time to time so this represent the demand conditions
16. The ape ……………………. from branch to branch in search of food.
1) lopes 2) swings 3) swoops 4) leaps
Answer: swings
Explanation:
Answer:
swings
Explanation:
The United States Food and Drug Administration requires manufacturers of processed foods to publish nutrition information on the packaging at a considerable cost to the firms. How does this requirement affect economic​ efficiency? A. It moves the market toward economic efficiency because the additional information represents a positive externality that the FDA is forcing firms to internalize. B. It moves the market toward economic efficiency by reducing the market failure caused by a lack of​ information, enabling consumers to make better informed decisions regarding nutrition. C. It moves the market away from economic efficiency because the additional cost of​ labeling, which is not accounted for in the market​ price, creates a market failure. D. It moves the market away from economic efficiency because the additional cost of labeling adds little value but raises the price of food above marginal cost.
Answer:
A. It moves the market toward economic efficiency because the additional information represents a positive externality that the FDA is forcing firms to internalize.
Explanation:
The US food and drug administration needs to follow some standard procedure such as the placing of labels and identifying marks on the products so as to provide additional information to the consumers and clients. This helps both consumers and the company by setting up goodwill and enhances their productivity.Wolfe Company purchased a truck for $62,000, with an estimated useful life of 8 years and a salvage value of $10,000. The company uses the double-declining-balance method of depreciation; however, after year 3 they switch to the straight-line method. There is no change to the estimated useful life or salvage value. What is the accumulated depreciation balance at the end of year 5 (round to the nearest dollar)
Answer:
$42306
Explanation:
Depreciation expense using the double declining method = Depreciation factor x cost of the asset
Depreciation factor = 2 x (1/useful life) = 2/8
Depreciation expense in year 1 = 2/8 x 62,000 = 15500
Book value at the beginning of year 2 = 62,000 - 15500 = 46500
Depreciation expense in year 3 = 2/8 x 46500 = 11625
Book value at the beginning of year 3 =46500 - 11625 = 34,875
Depreciation expense in year 3 =34,875 x 2/8 = 8718.75
Book value at the beginning of year 4 = 34,875 - 8718.75 = 26156.25
Straight line depreciation expense = (book value of asset - Salvage value) / useful life
26156.25 - 10,000 / 5 = 16156.25 / 5 = 3231.25
Depreciation expense for the remaining 2 years = 3231.25 x 2 = 6462,50
total depreciation = sum of year 1 to 5 depreciation = 6462,50 + 15500 + 11625 + 8718.75 = $42306
pls help
Your lifestyle desires should be a big part of choosing your career.
Is this statement true or false?
true
false
Answer:
True
Explanation:
You should incorporate your life desires into choosing a career choice because if you are not happy with your job or you don't feel fulfilled with what you are doing then you are only harming yourself mentally and sometimes physically by continuing to do something that doesn't fit with your desires.
Fredrick purchased a property worth $150,000 on mortgage. He paid $30,000 as a down payment on this property. However, a recent slump in real estate prices forced Fredrick to sell the property for $115,000 only 2 months later. This sale is termed a(n): Group of answer choices
Answer:
Real estate short sale
Explanation:
Real estate is defined as a piece of land and any attached property that is constructed on it.
In real estate business a real estate short sale occurs when the person that owns a property decides to sell the property at a price that is less than the amount on the mortgage.
This usually occurs as a result of financial distress of the owner.
In the given scenario the property has a mortgage value of $150,000 and down payment of $30,000 has been made.
The mortgage amount is now $150,000 - $30,000 = $120,000
However they now sell the property for $115,000 which is less than the remaining mortgage value of $120,000.
This is and example of real estate short sale.
After creating awareness that the firm's products or services exist, the next goal of integrated marketing communications is to generate consumer action. increase the level of interest among consumers. determine the level of desire needed to sustain action. gain the attention of the consumer. create intentions to purchase the product.
Answer:
increase the level of interest among consumers.
Explanation:
Integrated marketing communications has this basic idea the basic idea is to make sure they're all types of communications and messages I welded together they have to be well link together so that all promotional tools can work together in harmony.
The aims of integrated marketing communication includes
1. The creation of a brand awareness
2. Generating interest for products among the customers
3. Raising desire for the product
4. Trying to create sales of these products.
The answer to this question is increase the level of interest among consumers.
Game theory is Group of answer choices The study of price-fixing and collusion. The study of decision making in situations where strategic interaction occurs between rivals. An explanation of how oligopolists become monopolists. Practiced by perfectly competitive firms.
Answer:
The study of decision making in situations where strategic interaction occurs between rivals.
Explanation:
Game theory looks at the interactions between participants in a competitive game and calculates the best choice for the player.
Game theory is usually practiced by firms in an oligopoly
An Oligopoly is when there are few large firms operating in an industry. While, a monopoly is when there is only one firm operating in an industry.
Oligopolies are characterised by:
price setting firms
product differentiation
profit maximisation
high barriers to entry or exit of firms
downward sloping demand curve
Abba, Inc. is considering dropping a product line. During the prior year, the line had sales of $207,000 and a contribution margin of $124,000. Fixed expenses consist of: Salaries $60,000 Rent 50,000 Advertising 20,000 Administrative 35,000 Total fixed expenses $165,000 The product line manager's $60,000 salary is avoidable as is the $20,000 of advertising. Of the administrative expenses, $10,000 is avoidable. The rest are general allocated expenses that will not change if the product is dropped. The rent expense is allocated to product lines based on sales and represents a share of the total cost for the building. If this product line is dropped overall net operating income will:
Answer:
Overall net income will decrease by $34,000.
Explanation:
Calculation to determine net operating income
Using this formula formula
Net operating income=Contribution margin -Avoidable costs
Where,
Contribution margin =$124,000
Avoidable costs= Salaries $60,000
+Advertising $20,000+Administrative expenses $10,000
Let plug in the formula
Net operating income=$124,000-($60,000+$20,000+$10,000)
Net operating income=$124,000-$90,000
Net operating income=$34,000 Decrease
Therefore If this product line is dropped overall net operating income will:decrease by $34,000
write the importance of profession education
Answer:
The educational program which helps to acquire necessary theoretical knowledge and practical skills to develop a good career is called professional education. It is also called career education.
Capital budgeting decisions ______. Multiple select question. involve an immediate cash outlay in order to obtain a future return are day-to-day decisions made by managers require little or no thought before being made require a great deal of analysis prior to acceptance
Answer:
involve an immediate cash outlay in order to obtain a future return
require a great deal of analysis prior to acceptance
Explanation:
A capital budgeting decision refers to an investment and the financial commitement. If we considered a project so here the business is making the financial commitment and at the same time it invest in the longer period that have an influence on the future projects
So it is an instant cash outflow for gaining a future return and also have a great deal before accepting it
Mark Green is considering buying a new Honda Accord. The purchase price of the car is $21,000 but Mark has a trade-in worth $4500. Mark needs a loan to buy the car and knows that his local bank requires him to put down 10% of the purchase price after the value of the trade-in is considered. Mark also knows that bank will charge 8% for the loan and require monthly payments over the next 4 years. What is the minimum down payment that Mark can make
Answer:
the minimum down payment that Mark can make is $1,650
Explanation:
The computation of the minimum down payment that Mark can make is given below:
Purchase price $21,000
Less: Trade In -$4,500
Net price $16,500
So, the down payment needed should be
= 10% of $16,500
= $1,650
Hence, the minimum down payment that Mark can make is $1,650
The Splash clothing brand has been in business for 30 years. People wear the clothes because they embody independence and strength. Even when the company faced allegations of child labor, the public defended the company and bought Splash jeans in support of the company. In the 90s, as prices soared and many competitors entered the market, people flocked to Splash stores in record numbers. What has the Splash brand created
Answer:
18s I think is that 70 it will be 1870
The invisible hand principle indicates that competitive markets can help promote the efficient use of resources Group of answer choices only if buyers and sellers really care, personally, about economic efficiency. even when each market participant cares only about their own self interest rather than about the overall efficiency of resource use. even if business firms fail to produce goods efficiently. if, and only if, businesses recognize their social obligation to keep costs low and use resources wisely.
Answer:
even when each market participant cares only about their own self interest rather than about the overall efficiency of resource use.
Explanation:
A capitalist economy also referred to as free-enterprise system, pure capitalism, or free market can be defined as a type of economy in which prices, products and services are being determined by the market rather than the government. Thus, a capitalist economy is devoid (free) of government regulations, interference or control because the market (enterprises) are the ones who are saddled with the responsibility of determining the market forces.
Simply stated, a capitalist economy is a type of economy that is completely driven by demand and supply of goods and services.
The invisible hand principle indicates that competitive markets can help promote the efficient use of resources even when each market participant such as producer and suppliers cares only about their own self interest rather than about the overall efficiency of resource use.
The "invisible hand" concept asserts that, the self-interest by producers and suppliers of resources in a market system will automatically promote the public interest as well.
This ultimately implies that, public and private interest will always coincide assuming there exist competition in a free market system.
In conclusion, the invisible hand concept is a metaphorical description of the unforeseen forces that typically moves a free market system or economy.
An investor wishes to construct a portfolio consisting of a 70 percent allocation to a stock index and a 30 percent allocation to a risk-free asset. The return on the risk-free asset is 4.5 percent, and the expected return on the stock index is 12 percent. The standard deviation of returns on the stock index is 6 percent. Calculate the expected standard deviation of the portfolio.
Answer:
the standard deviation is 4.2%
Explanation:
The computation of the standard deviation of the portfolio is given below:
expected standard deviation of the portfolio is
= Allocation percentage of stock index × standard deviation of returns on the stock index
= 0.70 × 6%
= 4.2%
Hence, the standard deviation is 4.2%
Historically, investments in the ________ have experienced the greatest returns.
Bond market
Real estate market
Stock market
Money market
Answer:
C. Stock market.
Explanation:
Stock market have experienced the greatest returns, even tho they are long term. ♥
Jay Bird is a partner in Soundview Partnership. The adjusted basis of his interest is $19,000, of which $15,000 represents his share of partnership liabilities. Jay's share of the partnership's unrealized receivables is $6,000. The partnership has no substantially appreciated inventory items. Jay sold his partnership interest for $28,000 cash plus $15,000 of his liability relief. What is the amount and character of his gain
Answer:
Ordinary income of $6,000; Capital gain of $18,000
Explanation:
Calculation to determine the amount and character of his gain
First step is to calculate the The total gain on the sale of his partnership
Using this formula
Total gain on the sale of his partnership = ( Cash + Relief of his share of liabilities -Basis )
Let plug in the formula
Total gain on the sale of his partnership=$28,000+$15,000+$19,000
Total gain on the sale of his partnership=$24,000
Now let determine the amount and character of his gain
The UNREALIZED RECEIVABLES amount of $6,000 will be the ORDINARY INCOME while the remaining amount of $18,000 Calculated as ($24,000-$6,000) will be the CAPITAL GAIN.
Therefore the amount and character of his gain will be: Ordinary income of $6,000; Capital gain of $18,000
