Answer: State the name and purpose of the Loan documents
Explanation:
A Notary Signing Agent refers to the agent who's charged with the responsibility of obtaining a formal signature of an appearer to a document.
Since Notary Signing Agent has reviewed and is completely familiar with all the documents in a loan package, it should be noted that when meeting with the borrower, the Notary Signing Agent may now state the name and purpose of the Loan documents
Analysis of Adjusting Entry for Supplies: Analyze each situation and indicate the correct dollar amount for the adjusting entry. (Trial balance is abbreviated as TB.)
1. Ending inventory of supplies is $239.
(Balance Sheet) (Income Statement)
Supplies Supplies Expense
TB 599
Bal.___
2. Amount of supplies used is $235.
(Balance Sheet) (Income Statement)
Supplies Supplies Expense
TB 470
Bal.___
ANALYSIS OF ADJUSTING ENTRY FOR INSURANCE: Analyze each situation and indicate the correct dollar amount for the adjusting entry
1. Amount of insurance expired is $970.
(Balance Sheet) (Income Statement)
Prepaid Insurance Insurance Expense
TB 1,450
2. Amount of unexpired insurance is $565.
(Balance Sheet) (Income Statement)
Prepaid Insurance Insurance Expense
TB 1,350
POSTING ADJUSTING ENTRIES: Two adjusting entries are in the following general journal. Post these adjusting entries to the four general ledger accounts. The following account numbers were taken from the chart of accounts: 141, Supplies; 219, Wages Payable 511, Payable; 511, working pan Wages Expense; and S23, Supplies Expense. If you are nor using the he entrs: Supolt accompany this text, enter the following balances before posting s that es: Supplies, $200 Dr ies, $200 Dr; Wages Expense, $1,200 Dr.
Question Completion:
POSTING ADJUSTING ENTRIES Two adjusting entries are in the following general journal. Post these adjusting entries to the four general ledger accounts. The following account numbers were taken from the chart of accounts: 141, Supplies; 219, Wages Payable 511, Wages Expense; and 523, Supplies Expense. If you are not using the working papers that accompany this text, enter the following balances before posting the entries: Supplies, $200 Dr; Wages Expense, $1,200 Dr
Answer:
1. Ending inventory of supplies is $239.
(Balance Sheet) (Income Statement)
Supplies $239 Supplies Expense $360 ($599 - $239)
TB 599
Bal.___ $239
2. Amount of supplies used is $235.
(Balance Sheet) (Income Statement)
Supplies $235 Supplies Expense $235
TB 470
Bal.___$235
ANALYSIS OF ADJUSTING ENTRY FOR INSURANCE: Analyze each situation and indicate the correct dollar amount for the adjusting entry
1. Amount of insurance expired is $970.
(Balance Sheet) (Income Statement)
Prepaid Insurance $480 Insurance Expense $970
($1,450 - $970)
TB 1,450
2. Amount of unexpired insurance is $565.
(Balance Sheet) (Income Statement)
Prepaid Insurance $565 Insurance Expense $785 ($1,350 - $785)
TB 1,350
141, Supplies
Account Titles Debit Credit
523, Supplies Expense $200
219, Wages Payable
Account Titles Debit Credit
511, Wages Expense $1,200
511, Wages Expense
Account Titles Debit Credit
219, Wages Payable $1,200
523, Supplies Expense
Account Titles Debit Credit
141, Supplies $200
Explanation:
a) Required chart of accounts:
141, Supplies
219, Wages Payable
511, Wages Expense
523, Supplies Expense
Adjusting entries:
Supplies, $200 Dr; Wages Expense, $1,200 Dr
The world's average (mean) GDP per capita is $10,515. There are roughly 7 billion people in the world. About 20% of the world's population produces 50% of the world's total GDP. How much GDP does the top 20% produce
Answer:
$36.802.50 billion
Explanation:
GDP per capita measures the standard of living of the people in a country. The higher the GDP per capita, the higher the standard of living
GDP per capita = GDP / population
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export
$10,515 = GDP / 7 billion
GDP = $10,515 x 7 billion
GDP = 73,605 billion
GDP of the top 20% = 50% x 73,605 billion = $36.802.50 billion
Assume one person drives 10,000 miles per year, at 20 miles per gallon of gasoline (mpg ), and the Federal gas tax is 20 cents/gallon. How much does the driver contribute to the Federal Trust Fund
Answer: $100
Explanation:
Since the person drives 10,000 miles per year, at 20 miles per gallon of gasoline (mpg ), then the number of gallons used for the year will be:
= 10000/20
= 500 gallons
Since the Federal gas tax is 20 cents/gallon, then the amount contributed by the driver to the Federal Trust Fund will be:
= 20cents × 500
= 10000 cents
Since 100 cents = $1
Then, 10000 cents will be:
= 10000/100
= $100
Given the points (-4,8) and (6,-12)
Answer:
N/A
Explanation:
What is the question. There is nothing to answer.
Differentiate between a defined contribution pension plan and a defined benefit pension plan. Explain how the employer's obligation differs between the two types of plans.
Answer:
Differences Between a Defined Contribution Pension Plan and a Defined Benefit Pension Plan.
With a defined contribution pension plan, the benefit that will accrue to the employee is not known or defined ahead of her retirement. But the contributions that will be made by the employer and the employee to fund the pension are clearly spelt out.
With a defined benefit pension plan, the benefit (i.e. the monthly payment to the retiree) is stated ahead of the pension time. It is based on the employee's tenure and salary. Employees do not contribute to the plan but are entitled to lifetime monthly payments.
Explanation:
The employer and each employee contribute some certain percentages to each worker's individual retirement account (IRA) under the defined contribution pension plan. Under the defined benefit pension plan, the employer is solely responsible for funding the plan and the employee benefits via a monthly payment from the funding plan during retirement.
g If total liabilities decreased by $46,000 during a period of time and stockholders' equity increased by $60,000 during the same period, the amount and direction (increase or decrease) of the period's change in total assets is a
Answer:
$14,000
increase
Explanation:
Assets - liabilities = stockholders equity
Asset - (-46,000) = +60,000
Asset + 46,000 = +60,000
Assets = 60,000 - 46,000 = +14,000
Del Gato Clinic's cash account shows a $11,905 debit balance and its bank statement shows $10,732 on deposit at the close of business on June 30. Outstanding checks as of June 30 total $1,264. The June 30 bank statement lists a $70 bank service charge. Check No. 919, listed with the canceled checks, was correctly drawn for $589 in payment of a utility bill on June 15. Del Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $598. The June 30 cash receipts of $2,376 were placed in the bank night depository after banking hours and were not recorded on the June 30 bank statement.
1. Prepare the adjusting journal entries that Del Gato Clinic must record as a result of preparing the bank reconciliation.
2. Prepare a bank reconciliation for Del Gato Clinic using the above information.
Answer:
Del Gato Clinic
1. Adjusting Journal Entries:
Debit Bank service charge $70
Credit Cash $70
To record bank service charge for the month.
Debit Cash $9
Credit Utilities $9
To correct overstated check No. 919.
2. Bank Reconciliation Statement as of June 30
Balance as per adjusted cash account $11,844
Add Outstanding checks for the month 1,264
Less Uncredited deposits (2,376)
Balance as per bank statement $10,732
Explanation:
a) Data and Calculations:
Cash account debit balance = $11,905
Bank statement balance = $10,732
Outstanding checks for the month = $1,264
Bank service charge = $70
Overstated check No. 919 = $9 ($598 - $589)
Uncredited deposits = $2,376
Cash Account Adjustments:
June 30 Balance = $11,905
Bank service charge = (70)
Overstated check No. 919 = 9
Adjusted cash account balance $11,844
The Jackson-Timberlake Wardrobe Co. just paid a dividend of $2.15 per share on its stock. The dividends are expected to grow at a constant rate of 4 percent per year indefinitely. Investors require a return of 10.5 percent on the company's stock. a. What is the current stock price
Answer:
the current stock price is $34.40
Explanation:
The computation of the current stock price is shown below:
Current price is
= D1 ÷ (Required return - Growth rate)
= (2.15 × 1.04) ÷ (0.105 - 0.04)
= $34.4
Hence, the current stock price is $34.40
We simply applied the above formula so that the correct answer could come
The company that you manage has invested $5 million in developing a new product, but the development is not quite finished. At a recent meeting, your salespeople report that the introduction of competing products has reduced the expected sales of your new product to $3 million. If it would cost $1 million to finish development and make the product, youshould go ahead and do so. The most you should pay to complete development is $2.0 million.
Answer:
Yes; $2.0 million
Explanation:
Yes, SHOULD YOU GO AHEAD and do so reason been that the TOTAL LOSS would then be the amount of $3 million instead of the amount of $5 million which therefore means that The MOST YOU SHOULD PAY in order to complete the development would be the amount of $2 million calculated as ($5 Million-$3 Million).
n economy has three industries, farming, building, and clothing. For every dollar of food produced, the farmers use $0.1, the builders use $0.05, and the tailors use $0.05. For every dollar of building, the builders use $0.05, the farmers use $0.11, and the tailors use $0.13. For every dollar of clothing produced, the tailors use $0.06, the builders use $0.15, and the farmers use $0.1. If the external demand for food is $260 million, for building is $200 million, and for clothing is $120 million, what should be the total production for each industry
Answer:
Please find the complete question for the solution:
Explanation:
Using formula:
[tex]\text{Production for each industry = External demand} \div \%\ \text{to meet external demand}[/tex]
[tex]- \ \ \ \ \ \ \ \ \ \ Farming \ \ \ \ \ \ \ \ \ \ Building \ \ \ \ \ \ \ \ \ \ Clothing \ \ \ \ \ \ \ \ \ \ \text{Remaining \% to meet external demand}\\\\\text{For every \$ of:}\\\\\\ Food \ produced \ \ \ \ \ \ 7\% [(\frac{\$0.07}{\$1})\times 100] \ \ \ \ \ \ 3\% [(\frac{\$0.03}{\$1})\times 100] \ \ \ \ \ \ \ 6\% [(\frac{\$0.06}{\$1})\times 100 \ \ \ \ \ 84\%\\\\[/tex]
[tex]Building\ \ \ \ \ \ \ \ 5\% [(\frac{\$0.05}{\$1})\times 100] \ \ \ \ \ \ \ \ 5\ [\frac{\$0.05}{\$1})\times 100] \ \ \ \ \ \ \ \ \ \ 13\% [(\frac{\$0.13}{\$1})\times 100]\ \ \ \ \ \ \ \ \ \ 77\%\\\\Clothing\ produced \ \ \ 18\% [(\frac{\$0.18}{\$1})\times 100]\ \ \ 4\% [(\frac{\$0.04}{\$1})\times 100]\ \ 13\% [(\frac{\$0.13}{\$1})\times 100] \ \ 65\%\\\\[/tex]
So, the answer is:
[tex]\text{Farming production} (\$170\ mil \div 84\%)\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \$202.38\ million\\\\\text{Building production} (\$140\ mil \div 77\%)\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \$181.82 \ million\\\\\text{Clothing production} (\$240\ mil \div 65\%)\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \$369.23\ million\\\\[/tex]
The total production for each industry is as follows:
Food Building Clothing
(Million) (Million) (Million)
Total production $325 $281.69 $173.91
How is total production determined?The total production for each industry is determined by dividing the external demand by external usage per dollar.
The external usages per dollar are the differences between what the primary producers consumed or used and the total production per dollar.
Data and Calculations:Food Building Clothing
Farmers' usage $0.1 $0.11 $0.10
Builders' usage $0.05 $0.05 $0.15
Tailors' usage $0.05 $0.13 $0.06
External usage $0.80 $0.71 $0.69
External demand $260 $200 $120
Total production $325 $281.69 $173.91 ($120/$0.69)
Thus, the total production for each industry is Food, $325 million, Building, $281.69 million, and Clothing, $173.91 million.
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Mass customization is ______. Group of answer choices the redesign of components found to be faulty in earlier versions of a product the mass production of individually customized products the reuse of components discarded from scrapped products the production of each product by hand for specific custom
Answer:
production of individually customized products
Explanation:
Mass customization can be described as when a company produces and delivers market goods and services that are suited to meet the needs of individual customers
It combines the benefit of low cost associated with mass production with the customization of goods.
An example of a product that is mass customized is the mobile phone. A mobile phone is mass produced but due to its software, users are able to modify or customize their phone to suit their needs
Types of Mass customization
Collaborative customization: In this type of Mass customization, customers and the company work together to create a good or service that meets the unique needs of the consumer. Adaptive customization: the good or service created can be further customized by the consumer to suit their needs. Transparent customization: unique products are made for each consumer . Cosmetic customization: different types of standardized products are made for various groups of customers.Advantages of Mass customization
Customer satisfaction increasesGoods are produced at lower costsDisadvantages of Mass customization
It would be difficult for the company to build up stock ahead of time due to the unique needs of the customersthere would be an increased wait time from the time the order is made till when it is deliveredThe journal entry to record the accrual of factory utilities is to: Multiple choice question. debit Factory Overhead and credit Utilities Payable debit Utilities Payable and credit Factory Overhead debit Factory Overhead and credit Cash debit Cash and credit Factory Overhead
Answer:
debit Factory Overhead and credit Utilities Payable
Explanation:
The journal entry to record the accrual of factory utilities is to: Debit Expense Account - Factory Overhead and Credit Liability Account -Utilities Payable.
The master budget includes individual budgets for sales, production or merchandise purchases, various expenses, capital expenditures, and cash.
A. True
B. False
Answer: True
Explanation:
The statement that the master budget includes the individual budgets for the sales, production or merchandise purchases, various expenses, capital expenditures, and cash is true.
It should be noted that the master budget consists of the budgets of the lower-level that can be found in an organization, the cash flow forecasts, and a financial plan.
The master budget gives firm a wider view of its finances and is used in making organizational decisions.
New Express had 400 multi-function centers machines in stock at the end of the year. Inventory records for the year are as follows:
DATE QUANTITY COST TOTAL
January 1 Beginning Inventory 50 $142 $7,100
August 5 Purchase 100 269 26,900
October 19 Purchase 100 233 23,300
November 23 Purchase 300 189 56,700
December 16 Purchase 200 157 31,400
Total available for sale 750 $145,400
Using the average cost method of inventory pricing calculate the dollar value of the ending inventory.
a. $69,200.00.
b. $79,200.00.
c. $77,548.00.
d. $85,650.00.
Answer:
c. $77,548.00.
Explanation:
The computation of the ending inventory using the average cost method is as follows;
But before that following calculations need to be done
The Average cost for the fax machines is
= [(50 × 142) + (100 × 269) + (100 × 233) + (300 × 189) + (200 × 15) ] ÷ 750
= 145400 ÷ 750
= $193.86666667
= 193.87
= 400 × 193.87
= $ 77,548
Future Value of Multiple Annuities Assume that you contribute $150 per month to a retirement plan for 20 years. Then you are able to increase the contribution to $350 per month for another 20 years. Given an 8 percent interest rate, what is the value of your retirement plan after 40 years
Answer:
$641,455.26
Explanation:
Calculation to determine the value of your retirement plan after 40 years
First step is to determine FV Using financial calculator
N = 40*12 = 480
I = 8%/12 = .6667
PV = 0,
PMT = $150
CPT FV =$523,651.17
N = 20*12 = 240
I = 8%/12 = .6667
PV = 0
PMT = $200 ($350 - $150)
CPT FV =$117,804.08
Now let determine the value of your retirement plan after 40 years
Sum of FV =$523,651.17+$117,804.08
Sum of FV =$641,455.26
Therefore the value of your retirement plan after 40 years will be $641,455.26
Do we have to show repair expense of abnormal loss in consignment account.If yes,how ?
Answer:
yes
Explanation:
to see the income and costs of the business
Financial statement data for the years 20Y5 and 20Y6 for Black Bull Inc. follow:
20Y5 20Y6
Net income $1,508,000 $2,676,000
Preferred dividends $60,000 $60,000
Average number of
common shares outstanding 80,000 shares 120,000 shares
a. Determine the earnings per share for 20Y5 and 20Y6.
b. Is the change in the earnings per share from 20Y5 to 20Y6 favorable or unfavorable?
Answer and Explanation:
a. The computation of the earning per share is given below:
As we know that
Earning per share = (Net income - preference dividend) ÷ (average no of common shares oustanding)
For 20Y5
= ($1,508,000 - $60,000) ÷ 80,000 shares
= $18.1
For 20Y6
= ($2,676,000 - $60,000) ÷ 120,000 shares
= $21.8
b. Since the earning per share is increased from 20Y5 to 20Y6 so it is favorable
What is the initial selling price needed to obtain a target profit of $50,000 using the manufacturing cost markup method
Answer:
$15 per unit
Explanation:
Note "The full question is attached as picture below"
Markup = (Fixed Costs + Desired Profit) / Units produced
Markup = ($300,000 + $150,000 + $50,000) / 50,000
Markup = $500,000 / 50,000 units
Markup = $10 per unit
Variable cost per unit = Variable cost / Quantity
Variable cost per unit = ($200,000 + $50,000) / 50,000
Variable cost per unit = $5 per unit
Sales price = Variable cost + Markup
Sales price = $5 per unit + $10 per unit
Sales price = $15 per unit
So, the initial selling price needed to obtain a target profit of $50,000 using the manufacturing cost markup method is $15 per unit.
a T-bill money market fund that yields a sure rate of 4.6%. The probability distributions of the risky funds are: Expected Return Standard Deviation Stock fund (S)166%Bond fund (B)70%The correlation between the fund returns is 0.0800. What is the Sharpe ratio of the best feasible CAL
Answer:
The Sharpe ratio of the best feasible CAL is 0.3167.
Explanation:
Note: This question is not complete as some data are omitted. The complete qustion is therefore provided before answering the question. See attached pdf file for the complete question.
Risk-free rate = Sure rate of the T-bill money market fund = 4.6%, or 0.046
Sharpe ratio of a fund = (Expected return - Risk-free rate) / Standard Deviation …………. (1)
Using equation (1), we have:
Sharpe ratio of Stock fund = (16% - 4.6%) / 36% = 0.3167
Sharpe ratio of Bond fund = (7% - 4.6%) / 30% = 0.08
Since Sharpe Ratio of Stock Fund (S) is higher than Sharpe Ratio of Bond Fund (B), this implies that the best option is to invest in Stock Fund (S).
Therefore, the Sharpe ratio of the best feasible CAL is 0.3167.
Your project is split into two teams across two different continents. They understand the work to be completed, as well as communication processes. But they still often argue about how the work should be accomplished and who should make decisions. Given what you know, what is the most likely cause for these issues?
Answer:
Your project is split into two teams across two different continents. They understand the work to be completed, as well as communication processes. But they still often argue about how the work should be accomplished and who should make decisions. Given what you know, what is the most likely cause for these issues?
cultural differences
Explanation:
Assuming no interactions, the main effects analysis of a one-half fractional factorial experiment compared to a comparable full factorial experiment yields which of the following outcomes?
a. Only the full factorial is accurate
b. The one-half factorial gives one-half of the final outcome
c. Both can be calculated but computer software is required
d. Both results are approximately the same
Answer:
d. Both results are approximately the same
Explanation:
As there is no interaction
One-half factorial will give half of the result of the experiment.
When there is a lack of resources, we also do the one-half factorial to complete the full factorial experiment.
Hence, both provide the approximately same outcomes of the experiment.
Debra is always praised by her faculty as a hard worker.Since she is praised for hard work versus intelligence,Debra is more likely to lead a ______. A)left-brain mindset B)a low tolerance for risk C)a growth mindset D)a fixed mindset
Answer:
left _brain mindset (it is the aswer)
i love you so much
Since she is motivated for the hard work that versus for intelligence so here she would lead to a left-brain mindset.
The following information for left-brain mindset is:
In this, the people should be analytical, logical.Moreover, they have numerically oriented, and believe in facts and details oriented.Therefore, all the other options are incorrect.
Thus, we can conclude that since she is motivated for the hard work that versus for intelligence so here she would lead to a left-brain mindset.
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The demand for fax machines has been estimated to be Q = 1,000 – P + 40 L, where P is the price of the machines and L is the average cost of a 10-minute midday call from Los Angeles to New York. At a fax machine price of $400 and a phone call cost of $10, the cross-price elasticity of demand for fax machines with respect to the price of phone service is:
Answer:
Cross-price elasticity of demand for fax machine with respect to the price of phone service is 0.412
Explanation:
+ If the cost of a phone call is $10, according to the equation, fax machines demand would be: 1000 - 400 + 40 * 10 = 1,000
+ If the cost of the call is to be increase by 10% which is 10 x 1.1 = $11, fax machines demand would be : 1000 - 400 + 40 *1.1 = 1,040
+ Cross-price elasticity of demand for fax machine with respect to the price of the phone services is calculated as: % change in demand / % change in price; in which:
% change in price = (change in price) / [( original price + price after change)/2] = 1 / [(10+11)/2] = 9.52%
% change in quantity = (change in quantity) / [ (original quantity + quantity after change)/2] = 40 / [ (1000 +1040) /2 ] = 3.92%
So, cross price elasticity = 3.92% / 9.52% = 0.412.
After issuing its financial statements, a company discovered that its beginning inventory was overstated by $150,000. Its tax rate is 25%. As a result of this error, net income was:
Answer:
Understated by $112,500
Explanation:
Calculation to determine the Net income
Using this formula
Net income=Overstated beginning inventory×(1-Tax rate)
Let plug in the formula
Net income=$150,000 x (1-25%)
Net income=$150,000×.75
Net income= $112,500 Understated
Therefore As a result of this error, net income was:Understated by $112,500
Financial statement data for Delicious Dishes, Inc. are given below. All figures are in dollars. Use this data to construct an Income Statement for the year ending December 31, 2015 and use your constructed statement to answer the following 4 questions.
Advertising 384,000
Beginning of year inventory 1,243,000
Depreciation 350,000
End of year inventory 1,128,000
General and administrative expenses 1,184,000
Gross sales 28,242,000
Interest expense 150,000
Lease payments 148,000
Management salaries 4,253,000
Purchases 18,243,000
Research and development 324,000
Returns and allowances 564,000
Taxes 925,000
What was gross profit from income statement for the year ending December 31, 2015?
What was operating profit (i.e., EBIT) from Delicious Dishes income statement for the year ending
December 31, 2015?
What was profit before taxes (i.e., EBT) from Delicious Dishes income statement for the year ending December 31, 2015?
What was net income from Delicious Dishes income statement for the year ending December 31, 2015?
Answer:
Gross profit from Delicious Dishes income statement for the year ending December 31, 2015 = $9,320,000
Operating profit (i.e., EBIT) from Delicious Dishes income statement for the year ending December 31, 2015 = $2,677,000
Profit before taxes (i.e., EBT) from Delicious Dishes income statement for the year ending December 31, 2015 = $2,527,000
Net income from Delicious Dishes income statement for the year ending December 31, 2015 = $1,602,000
Explanation:
Note: See the attached excel file for Delicious Dishes income statement for the year ending December 31, 2015.
From the attached excel file, we have:
Gross profit from Delicious Dishes income statement for the year ending December 31, 2015 = $9,320,000
Operating profit (i.e., EBIT) from Delicious Dishes income statement for the year ending December 31, 2015 = $2,677,000
Profit before taxes (i.e., EBT) from Delicious Dishes income statement for the year ending December 31, 2015 = $2,527,000
Net income from Delicious Dishes income statement for the year ending December 31, 2015 = $1,602,000
Suppose you have $100 of endowment, and you are offered a chance to buy a lottery which costs $36. The lottery has 43% of chance to win a prize of $G, or you just lose and get nothing. Suppose your utility function on wealth is u(w)=w^1/2. What is the least prize size G that you will be willing to buy the lottery? (Round to the second digit after decimal point.)
Answer:
96.02
Explanation:
Lottery's Expected utility = [tex]\sqrt{100}[/tex] = 10
Income in good state = 100 - 36 + G = 64 + G
Income in bad state = 100 - 36 = 64
Probability in good state = 43%
Probability in bad state = 100% - 43% = 57%
Expected utility = Probability in good state x [tex]\sqrt{(64 + G )}[/tex] + Probability in bad state x [tex]\sqrt{64\\}[/tex]
10 = 43% x [tex]\sqrt{(64 + G )}[/tex] + 57% x 8
10 = 43% x [tex]\sqrt{(64 + G )}[/tex] + 4.56
10 - 4.56 = 43% x [tex]\sqrt{(64 + G )}[/tex]
5.44 = = 43% x [tex]\sqrt{(64 + G )}[/tex]
5.44 / 43% = [tex]\sqrt{(64 + G )}[/tex]
12.65 = [tex]\sqrt{(64 + G )}[/tex]
[tex]12.65^{2}[/tex] = [tex](\sqrt{(64 + G )})^{2}[/tex]
160.0225 = 64 + G
G = 160.0225 - 64
G = 96.0225
G = 96.02
On January 1, Wei company begins the accounting period with a $33,000 credit balance in Allowance for Doubtful Accounts. On February 1, the company determined that $7,400 in customer accounts was uncollectible; specifically, $1,200 for Oakley Co. and $6,200 for Brookes Co. Prepare the journal entry to write off those two accounts. On June 5, the company unexpectedly received a $1,200 payment on a customer account, Oakley Company, that had previously been written off in part a. Prepare the entries to reinstate the account and record the cash received.
Answer and Explanation:
The journal entries are shown below:
a.
Feb 1
Allowance for doubtful accounts $7,400
To Account receivable-Oakley Co $1,200
To Account receivable-Brookes Co $6,200
(being written off is recorded)
b)
On June 5
Account receivable-Oakley CO $1,200
To Allowance for doubtful accounts $1,200
(Being amount reinstated is recorded)
On June 5
Cash $1,200
Account receivable-Oakley CO $1,200
(Being the cash received is recorded)
On November 1, clients of Great Designs Company prepaid $4,250 for services to be provided in the future at a rate of $85 per hour. a. Journalize the receipt of cash. If an amount box does not require an entry, leave it blank. Nov. 1 fill in the blank 15e2fafaf020002_2 fill in the blank 15e2fafaf020002_3 fill in the blank 15e2fafaf020002_5 fill in the blank 15e2fafaf020002_6 b. As of November 30, Great Designs shows that 15 hours of services have been provided on this agreement. Journalize the necessary adjusting entry. If an amount box does not require an entry, leave it blank. Nov. 30 fill in the blank 55e33803103f004_2 fill in the blank 55e33803103f004_3 fill in the blank 55e33803103f004_5 fill in the blank 55e33803103f004_6 c. Determine the total unearned fees in hours and dollars at November 30. Unearned fees in dollars $fill in the blank b5fba80a1040fa8_1 Unearned fees in hours fill in the blank b5fba80a1040fa8_2 hours
Answer:
Total unearned fees in dollars at November 30 = $2975
Total unearned fees in hours at November 30 = 35 hours
Explanation:
There is a bond that has a quoted price of 103.203 and a par value of $2,000. The coupon rate is 6.81 percent and the bond matures in 23 years. If the bond makes semiannual coupon payments, what is the effective annual interest rate
Answer: 6.53%
Explanation:
You can use an Excel worksheet to solve this.
The bond pays semi-annual coupons so you need to convert these measures to periodic measures:
Coupon = 6.81% * 2,000 * 0.5 = $68.10
Maturity term = 23 * 2 = 46 semi annual periods
Present value = 2,000 * 103.203 quoted price = $2,064.06
Use the Rate function as attached:
Periodic rate = 3.2694%
Annual rate = 3.2694 * 2
= 6.53%
If Medicaid is expanded to cover a greater percentage of the population: the public debt will immediately increase. implicit liabilities will increase. implicit liabilities will decrease. implicit liabilities will be unaffected.
Answer: implicit liabilities will increase.
Explanation:
Implicit liabilities are incurred by government as a result of them having to take care of their citizens. Medicaid is one such liability.
If the government were to expand the percentage of people in the country that are to be covered by medical aid, this would mean that more Medicaid will be paid by the government which means that the implicit liabilities will increase.
