On January 1, 2020, a company purchased equipment and signed a 6 year mortgage note for $160,000 at 15%. The note will be paid in equal installments of $42,278 beginning January 1, 2021. On January 1, 2021, the journal entry to record the first installment payment will include a Group of answer choices debit to Interest Expense for $24,000 credit to Cash for $18,278 debit to Mortgage Payable for $42,278 credit to Mortgage Payable for $42,278

Answer:

All of the above are correct.

Explanation:

A price floor is when the government or an agency of the government sets the minimum price of a product. A price floor is binding if it is set above equilibrium price.

Because price is set above equilibrium price, quantity supplied would exceed quantity demanded and there would be a surplus.

Because price is set above equilibrium price, quantity demanded will decrease

Answer: d. Even if no money is spent on advertising, the company realizes $500 of sales.

Explanation:

In a regression model, the intercept term tells us the value of y when the value of x is zero.

According to this model, the y value here is the forecasted sales. The x value is the advertising dollars spent and the intercept is $500.

This therefore means that when no money is spent on advertising i.e. x = 0, the sales(y) would be $500 which is the intercept term.

Hi, you've asked an incomplete question. However, I provided some explanation about what monopoly entails.

Explanation:

Note that the term monopoly basically refers to a market environment in which an entity or enterprise is the only producer of a particular commodity.

In such a situation, the monopolist firm has a market advantage of being able to choose what price to sell its products without been concerned about the price of the competitor's products.

Answer: See explanation

Explanation:

a. 1 jan 2020

Debit Cash $10,900

Credit Unearned revenue $10,900

31st dec 2020

Debit Unearned revenue $10,900

Credit Service revenue $10,900

1 jan 2020

Debit Cash $10,900

Credit Unearned revenue $10,900

31st dec 2020

Debit Unearned revenue $10,900

Credit Service revenue $10,900

b. 1 Jan 2021

Debit Cash $30500

Credit Unearned revenue $30500

31st dec 2020

Debit Unearned revenue $7,625

Credit Service revenue $7,625 ($30500/4)

c. 1 Jan 2020

Debit Cash $30500

Credit Unearned revenue $30500

31st Dec 2020

Debit Unearned revenue $8,700

Credit Service revenue $8,700

Answer: magnifies spending-income changes into greater changes in aggregate demand, causing demand-pull inflation

Explanation:

The spending multiplier is the ratio of the change in GDP to the change in the autonomous expenditure.

The spending income multiplier magnifies spending-income changes into greater changes in aggregate demand, causing demand-pull inflation. In a situation whereby there's a reduction in the investment spending, there'll be a recession.

Explanation:

Juice division at Coca Cola is not an example of cost center.

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Stay Safe!シ︎

Answer:

Explanation:

Lease Liability on January 1, 2020 = Present Value of Annual lease payments discounted at 6%

Annual Interest 6%

Number of Lease payments in 3 years 3

Annual payment $23,000

Lease Liability on January 1 $65,168

*(using PV function Rate=0.04. Nper=3, Pmt=-23,000,Type=1(Payment at beginning of period)

Journal entry

Date Account Titles and Explanations Debit Credit

01-01-2020 Right of use of assets $65,168

To, Lease Payable $65,168

( To record the lease liability)

01-01-2020 Lease Payable $23,000

To, Cash $23,000

(To record the payment of lease rental)

12/31/20 Lease Expense 23,000

Lease Liability 2,530

[(65,168 - 23,000) x 6%]

Right-of-use Asset 20,470

( To record the lnterest expenses)

Answer:

$5,325

Explanation:

Disposable personal income is the income that remain after paying all personal taxes and purchase of final expenditure on goods and services.

Disposable personal Income = Personal Income of the consumers - Personal Taxes paid by the consumers

Disposable personal Income = $7,863 - $2,538

Disposable personal Income = $5,325

So, the disposable personal Income for the individual is $5,325.

Answer:

The answer is "116 doorknobs".

Explanation:

The standard deviation of the demand before the (four weeks) protection intervals = [tex]\sigma-d \times (\sqrt{L}) = 100 \ units\\[/tex]

The desired cycle service level is [tex]99\%[/tex].Therefore, [tex]z = 2.33[/tex]

The safety stocks for the four-weeks protecting interval are:

Safety stock [tex]= z\times [ \sigma-d \times (\sqrt{L})][/tex]

                     [tex]= 2.33 \times 100 \\\\= 233\ door\ knobs[/tex]

The safety stocks require for the one-week protection interval are: [tex]\sigma-dLT = \sigma-dt \times (\sqrt{L}) = \sigma-dt \times (\sqrt{4}) = 100\ door\ knobs\\\\\sigma-d = \frac{100}{(\sqrt{4})} = \frac{100}{2} = 50 \ door\ knobs\\\\[/tex]

Safety stock [tex]= z\times \sigma-dt = 2.33 \times 50 = 116.5 \ or\ 117 \ door\ knobs\\\\[/tex]

Safety stock reduction[tex]= 233 -117 = 116 \ door\ knobs[/tex]

Answer:

the amount of the concord company check is $2,548

Explanation:

The computation of the amount of the concord company check is shown below:

= Sale value of the merchandise - discount

= $2,600 - ($2,600 × 2%)

= $2,600 - $52

= $2,548

Hence, the amount of the concord company check is $2,548

The same should be considered

Answer:

Promissory agreement.

Explanation:

A promissory agreement can be defined as an evidence of a debt and as such involves the use of a legal financial tool such as a promissory note as a written promise to declare that a party (borrower) would pay another (lender) at a specific period of time.

Thus, when goods are sold to a customer by a business entity and the customer promises to pay an amount of money at a certain future time period it is known as a promissory agreement.

A promissory note can be defined as a signed document that contains a written promise by a customer to pay a specific amount of money to an individual or business firm, on demand or at a certain future time period, for the goods or services purchased.

Answer and Explanation:

Property, Plant and Equipment(PPE) are reported are reported at book value in the balance sheet statement. Over it's useful life, depreciation is allocated as expense to PPE and accumulated depreciation is calculated for total of depreciation expense to get net book value(cost less depreciation expense). PPE is only reported at fair value when it is going to be sold or it is damaged/impaired asset. Otherwise it is not useful to report PPE at fair value in the statement.

Answer:

$2,969.22

Explanation:

Equal principal repayment=$2,500/5

Equal principal repayment=$500

The fact that Jeremy's son repaid $517.50 at the end of the 5th year, means that the interest paid in year 5 is the difference between the amount repaid($517.50) and the equal principal repayment($500)

interest paid in year 5=$517.50-$500=$17.50

That also means that the balance outstanding at the beginning of year 5( at the end of year 4) is $500, which effectively means that the interest rate on the loan is the determined thus:

interest paid in year 5=balance at the end of year 4*interest rate

$17.50=$500*interest rate

interest rate=$17.50/$500

interest rate=3.50%

The schedule of repayment is attached

The first repayment would be invested for 4 years, since it is occurring at the end of year 1( in years 2-5), the year 2 repayment would be invested for only 3 years and so on.

FV value of reinvestment of repayment=$587.50*(1+3.50%)^4+$570.00*(1+3.5%)^3+$552.50*(1+3.5%)^2+$535.00*(1+3.5%)^1+$517.50

FV value of reinvestment of repayment=$2,969.22

Answer:

The amount the fund accumulated to by the end of the 5 years is $2,648.23.

Explanation:

Step 1: Calculation of interest rate

The interest rate can be calculated using the following RATE function in Excel:

Interest rate = RATE(nper,pmt,-pv,fv,type) .............(1)

Where;

nper = number of periods = number of years = 5

pmt = Fixed annual payments = Amount repaid by his son at the end of the 5th year = $517.50 = 517.50

pv = present value = Loan amount = $2,500 = 2500

fv = future value = desired cash balance after last payment = 0

type = when payments are due (0 = end of period. 1 = beginning of period) = 0

Substituting the values into equation (1), we have:

Interest rate RATE(5,517.50,-2500,0,0)  .................. (2)

Inputting =RATE(5,517.50,-2500,0,0) into a cell in an excel sheet (Note: as done in the attached excel file), we have:

Interest rate = 1.16%

Step 2: Calculation of the amount the fund accumulated to by the end of the 5 years

This can be calculated using the formula for calculating the Future Value (FV) of an Ordinary Annuity as follows:

FV = M * (((1 + r)^n - 1) / r) ................................. (3)

Where,

FV = Future value = The amount the fund accumulated to by the end of the 5 years =

M = Fixed annual payments = $517.50

r = Interest rate = 1.16%, or 0.0116

n = number of years = 5

Substituting the values into equation (3), we have:

FV = $517.50 * (((1 + 0.0116)^5 - 1) / 0.0116)

FV = $517.50 * 5.11735342258641

FV = $2,648.23

Therefore, the amount the fund accumulated to by the end of the 5 years is $2,648.23.

Answer:

It has been a well known fact that competitive strategy creates a unique value for a target set of movie customers. However, it is not able to predict nor explain the outcome due to the fact that Marvel only focused on trying to compete to be the best in comic and superhero films which thus resulted in basically a case whereby there was a competition in which one participant wins totally and another loses without gaining any objectives and thus they were not able to win.

Explanation:

This question is taken from a book titled "The Marvel Way: Restoring a Blue Ocean". It was written by W. Chan Kim, Renee Mauborgne, Michael Olenick. The central theme of the book was about one of the greatest turnarounds in modern business history by the then Marvel CEO with the name Peter Cuneo who was responsible for turning the business around and succeeded in launching a blue ocean.

From the question, neither predicts nor explains the outcome because;

It has been a well known fact that competitive strategy creates a unique value for a target set of movie customers. However, it is not able to predict nor explain the outcome due to the fact that Marvel only focused on trying to compete to be the best in comic and superhero films which thus resulted in basically a case whereby there was a competition in which one participant wins totally and another loses without gaining any objectives and thus they were not able to win.

Answer: c. would negatively affect producers but positively affect consumers because producers must accept lower prices.

Explanation:

Deflation refers to the reduction in the general price level of the goods and the services in an economy. It takes place when inflation rate is below 0%.

Deflation increases the value of a currency. This would negatively affect producers but positively affect consumers because producers must accept lower prices.

Answer:

b. All companies, regardless of the strategy being employed, should pursue actions to manage employee compensation and labor productivity in a manner that results in labor costs per pair produced that are equal to (or very close to) the industry-low in each region where the company has plants.

Explanation:

The less labor cost of production per pair could be attained in following two ways

1. The productivity level is icnreased

2. The compensation should be managed and it provides the combination of both fixed and variable. Also it pays the high compensation but at the more productivity rate due to which the labor cost per pair would fall

So as per the given situation, the option b is correct

Answer: Hello your question has some missing details

Their goals are as follows:

• Create brand and product awareness

• Engage with users

• Increase website traffic and conversions

answer :

Tools : Qwaya , Ads A/B Testing , AD roll

" A social media platform " can be used to achieve these goals

Explanation:

Booktix goals been  

to Create brand and product awareness ,  Engage with users  and Increase website traffic and conversions

some of The best tools that they can use are:

Qwaya : This is an all in one software that can help Brook tix achieve all their goals in one place

Ads A/B Testing; this tool is used to test for the results of adverts been run. the main purpose of this tool is to help you know where to channel your resource for future adverts .

AD roll ; A tool used for the purpose of retargeting potential and existing clients

The platform I would recommend for Booktix is " A social media platform "

Answer:

the current yield on the stock is 3.42%

Explanation:

the computation of the current yield on the stock is shown below:

Current yield = Annual dividends paid ÷ Current market closing price

= ($0.27 + $0.15) ÷  $12.27

= $0.42 ÷ $12.27

= 3.42%

hence, the current yield on the stock is 3.42%

we simply applied the above formula to determine the current yield on the stock

Answer:

a) attached below

b) Wheat production

c) Yes there is a possible trade that benefits both countries

d) attached below

Explanation:

Opportunity cost can be expressed as

= Value/cost of alternative / value/cost of chosen alternative

a) Draw each country's production possibility curve

attached below

b) United state have a comparative advantage in Wheat production because of lower opportunity cost

c) The possible trade that would benefit both countries is when  both countries trade on goods that they have lower comparative opportunity cost

i.e. Japan producing just Bolt cloths while United states produce Wheat alone

d) combined production possibility curve

attached below

Answer:

Journal Entries:

Jul. 2 Debit Accounts Receivable (Intelimate, Inc.) $1,900

Credit Sales Revenue $1,900

To record the sales on credit, terms n/30

Debit Cost of goods sold $300

Credit Inventory $300

To record the cost of goods sold.

Jul. 3 Debit Cash $55

Credit Office supplies $55

To record the sale of office supplies to a staff.

Jul. 7 Debit Cash $2,100

Credit Sales Revenue $2,100

To record a cash sale.

Debit Cost of goods sold $1,640

Credit Inventory $1,640

To record the cost of goods sold.

Jul. 9 Debit Accounts Receivable (A.C. Malloy) $7,000

Credit Sales Revenue $7,000

To record the sale of goods on account, terms n/30

Debit Cost of goods sold $5,600

Credit Inventory $5,600

To record the cost of goods sold.

Jul. 10 Debit Cash $11,000

Credit Land $11,000

To record the sale of land for cash.

Jul. 11 Debit Accounts Receivable (Super Electric) $5,300

Credit Sales Revenue $5,300

To record the sale of goods on account, terms n/30

Debit Cost of goods sold $3,520

Credit Inventory $3,520

To record the cost of goods sold.

Jul. 12 Debit Cash $1,900

Credit Accounts Receivable (Intelimate, Inc.) $1,900

To record the receipt of cash in full settlement.

Jul. 14 Debit Cash $2,200

Credit Sales Revenue $2,200

To record the sale of goods for cash.

Debit Cost of goods sold $1,600

Credit Inventory $1,600

To record the cost of goods sold.

Jul. 15 Debit Accounts Receivable (Westin Partnership) $5,000

Credit Sales Revenue $5,000

To record the sale of goods on credit, terms n/30

Debit Cost of goods sold $3,000

Credit Inventory $3,000

To record the cost of goods sold.

Explanation:

a) Data and Analysis:

Jul. 2 Accounts Receivable (Intelimate, Inc.) $1,900 Sales Revenue $1,900 on credit, terms n/30

Cost of goods sold $300 Inventory $300

Jul. 3 Cash $55 Office supplies $55

Jul. 7 Cash $2,100 Sales Revenue $2,100

Cost of goods sold $1,640 Inventory $1,640

Jul. 9 Accounts Receivable (A.C. Malloy) $7,000 Sales Revenue $7,000  on account, terms n/30 Cost of goods sold $5,600 Inventory $5,600

Jul. 10 Cash $11,000 Land $11,000

Jul. 11 Accounts Receivable (Super Electric) $5,300 Sales Revenue $5,300  on account, terms n/30

Cost of goods sold $3,520 Inventory $3,520

Jul. 12 Cash $1,900 Accounts Receivable (Intelimate, Inc.) $1,900  

Jul. 14 Cash $2,200 Sales Revenue $2,200

Cost of goods sold $1,600 Inventory $1,600

Jul. 15 Accounts Receivable (Westin Partnership) $5,000 Sales Revenue $5,000 on credit, terms n/30

Cost of goods sold $3,000 Inventory $3,000 ($5,000 and $3,000 imagined).

Answer:

integrated Marketing communication

Explanation:

This method is used by firms and companies to brand their communications and also in their coordination. It makes sure that all the various forms of communications are well linked together. This would create a unified communication channel for the consumer during their interactions with the enterprise. the aspects it integrates includes, advertising, public relations, social media and promotion of sales.

Answer:

0.811

Explanation:

Calculation to determine What is the stock's beta

Using this formula

Stock's beta=Market correlation*Stock standard deviation*Market standard deviation/Market standard deviation^2

Let plug in the formula

Stock's beta=(0.64)(0.38)(0.30)/0.30^2

Stock's beta=0.07296/0.09

Stock's beta=0.811

Therefore the stock's beta is 0.811

Answer: $25078

Explanation:

Firstly, we'll find the real interest rate which will be:

(1 + R) = (1 + r)(1 + h)

(1 + 10%) = (1 + r)(1 + 4.8%)

(1 + 0.1) = (1 + r)(1 + 0.048)

1.1 = (1 + r)(1.048)

r = 4.96%.

Now the annual deposit will be gotten by using the annuity future value which will be:

3 million = C(1.0496^40-1) / 0.0496

3 million = C(5.3995) / 0.0496

3 million = 119.627C

C = 3 million/119.627

C = 25078

Therefore, the real amount that must be deposited each year to achieve the goal is $25078

Answer:

The residuary clause

Explanation: As Mary would like to leave the balance of her estate to her brother tom this will fall under the  residuary clause.

Answer:

Wolfe Company

The amount of:

                                      LIFO         FIFO    Weighted Average

Ending inventory      $50,500    $65,100        $58,005

Cost of goods sold  $113,200   $98,600       $105,698

Explanation:

a) Data and Calculations:

Date Transaction             Number of units   Unit Cost   Cost Value

1/1     Beginning inventory             2,000        $22.00    $44,000

4/12  Purchase No. 1                      2,300        $26.00      59,800

7/11   Purchase No. 2                        800        $28.00      22,400

10/5 Purchase No. 3                      1,250        $30.00      37,500

Total inventory available              6,350                       $163,700

Wolfe sold                                      4,100

Ending Inventory                          2,250

LIFO

Ending Inventory = $50,500 (250 * $26 + 2,000 * $22)

Cost of goods sold:

4/12  Purchase No. 1                      2,050        $26.00      53,300

7/11   Purchase No. 2                        800        $28.00      22,400

10/5 Purchase No. 3                      1,250        $30.00      37,500

Total cost of goods sold =            4,100                        $113,200

FIFO:

Ending Inventory = Cost of goods available for sale - Cost of goods sold

= $65,100 ($163,700 - $98,600)

Cost of goods sold:

1/1     Beginning inventory             2,000        $22.00    $44,000

4/12  Purchase No. 1                      2,100        $26.00        54,600

Total cost of goods sold = $98,600

Weighted average:

Weighted average cost = $25.78 ($163,700/6,350)

Ending inventory = $58,005 (2,250 * $25.78)

Cost of goods sold = $105,698 (4,100 * $25.78)

Answer and Explanation:

The adjusting journal entry is given below;

Unearned fee revenue $7,050 ($14,530 - $7,480)

           To Fee revenue  $7,050

(Being the fees revenue is recorded)

here the unearned fees revenue is debited as it decreased the liabilities and credited the fees revenue as it increased the revenue

Answer:

that most likely occurred before the date of the financial statements

Explanation:

Financial accounting is an accounting technique used for analyzing, summarizing and reporting of financial transactions like sales costs, purchase costs, payables and receivables of an organization using standard financial guidelines such as Generally Accepted Accounting Principles (GAAP) and financial accounting standards board (FASB).

Basically, financial statements are formally written records of the business and financial activities of a business entity or organization. The four (4) main types of financial statements are; cash-flow statement, balance sheet, statement of changes in equity and income statement.

Furthermore, there are two (2) main methods used in financial accounting for analyzing financial statements and these are;

I. Vertical analysis.

II. Horizontal analysis.

A Type I subsequent event refers to an event that most likely occurred before the date of the financial statements. Thus, it must have been reported or posted before the date of publishing a financial statement.

On the other hand, any event that is most likely to occur after the date a financial statement is issued, is referred to as a Type II subsequent.

Answer:

Using the weighted average method, the Equivalent units for material is:

= Units completed and transferred out + Equivalent closing material

= 375,000 + (97,000 units * 80% complete with respect to materials)

= 375,000 + 77,600

= 452,600 units

Equivalent units for conversion:

= Units completed and transferred out + Equivalent closing units with respect to conversion

= 375,000 + (97,000 * 30%)

= 375,000 + 29,100

= 404,100 units

Answer:

A. True

Explanation:

A financial statement is a written report that quantitatively describes a firm's financial health. Under the financial statements is a cash-flow statement, which is used to record the cash inflow and cash equivalents leaving a business firm.

Cash flow statement, also known as the statement of cash flows, contains financial information about operating, financial and investing activities.

Basically, financial statements are formally written records of the business and financial activities of a business entity or organization.

There are four (4) main types of financial statements and these are;

1. Cash flow statement: it contains financial information about operating, financial and investing activities.

2. Statement of changes in equity: it contains financial information about profits or loss, dividends, etc.

3. Income statement: it contains financial information about the income and expenses of an organization.

An income statement comprises of the financial information about the income and expenses of an organization over a specific period of time.

4. Balance sheet: it contains financial information about assets, liability, and equity.

Furthermore, the amount of a cash dividend liability is expected to be recorded on the particular date of record because it is this date that identify the persons or entities who receives the dividend.

Answer:

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