Randy and Sam orally agree to the sale of 1,000 pencils at $.25 each. This contract is Group of answer choices Enforceable Not enforceable because it is not in writing Enforceable only if Sam is a merchant Enforceable only if both parties are merchants

Answers

Answer 1

Answer:

Enforceable

Explanation:

Statute of frauds are legal requirements that a contract must have before it is considered to be enforceable.

Normally written contracts are required for transactions that are above $500, for sale of land, and transctions that last one year or longer.

The contract amount in the given scenario is (1000 pencils * $0.25) = $250

This amount falls below what is required for a written agreement. So an oral agreement can suffice in this case.

The contract is enforceable


Related Questions

Warehouse operations have shut down at SHXCX Manufacturing suddenly due to a power outage. Warehouse managers are still able to communicate with their home office and their data servers, but unfortunately have no prepared solution to restoring operations. Which of the following controls would be best suited to combat this problem?

a. Validity test
b. Business Continuity Plan (BCP)
c. Disaster Recovery Plan (DRP)
d. Both B and C

Answers

Answer:

d. Both B and C

Explanation:

Business continuity planning and disaster recovery planning main goal is the keeping of a business running in the advent or event of an emergency or interruptions.

Business continuity plan (BCP)

This simply shows the important and essential processes, procedures, and personnel that is to be protected in case of an emergency. It uses the business impact analysis (BIA) to evaluate risks to the organization.

Disaster recovery plan (DRP)

This is simply defined as the known steps and procedures personnel in key departments of an organization must follow in any disaster case within the organization.

Business Continuity Planning has its main focus on sustaining operations and protecting the viability of the business following a disaster and it is a long termed focused. While the Disaster Recovery Planning main goal is to minimize the effects of a disaster and to take the necessary steps to ensure that the resources, personnel and business processes are able to resume operations in a timely manner. Its focus is on immediate aftermath of the disaster and it is a Short Term focused.

You are the regional sales manager for Standard Publishing Co. The company is preparing adjusting entries for the year ended March 31, 2021. On September 1, 2020, customers in your region paid $180,000 cash for three-year magazine subscriptions beginning on that date. The magazines are published and mailed to customers monthly. These were the only subscription sales in your region during the year. What amount should be reported on the income statement for subscription revenue for the year ended March 31, 2021

Answers

Answer:

Standard Publishing Co.

The amount of subscription revenue that should be reported on the income statement for the year ended March 31, 2021 is:

= $35,000.

Explanation:

a) Data and Calculations:

September 1, 2020 Cash receipt for magazine subscriptions for three years = $180,000

This subscriptions is equal to 36 months subscription.

The amount of subscription revenue to report for the year ended March 31, 2021 = $35,000 ($180,000 * 7/36).

From the above calculation, a month's subscription revenue = $5,000 ($180,000/36)

Therefore, seven months' subscription from September 1, 2020 to March 31, 2020 = $35,000 ($5,000 * 7).

The unearned subscription revenue is debited with $35,000, while earned subscription revenue is credited with the same amount.

Evaluate whether all of the following are considered to be investment (I) in calculating GDP.

a. The purchase of a new automobile for private, non-business use
b. The purchase of a new house
c. The purchase of corporate bonds

Answers

Answer:

only the purchase of a new house would be considered investment spending of the three options

Explanation:

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  

Consumption spending includes spending by households on goods and services. Consumption spending includes :  

spending on durables - e.g. laptop  

spending on nondurables - e.g. clothes, food

spending on services  - e.g. payment of hospital bill  

the purchase of a textbook by a student is an example of consumption spending on durable goods

Investment - It includes purchases of goods and services made by businesses in the production of goods and services

Government spending - It includes government consumption expenditure and gross investment.  The purchase of a new  limousine for the president is an example of consumption expenditure

The purchase of a new automobile for private, non-business use is an example of consumption spending on durables

The purchase of a new house is an example of investment spending

The purchase of corporate bonds is not included in the calculation of GDP

Department R had 4,700 units in work in process that were 78% completed as to labor and overhead at the beginning of the period. During the period, 26,200 units of direct materials were added, 28,500 units were completed, and 2,400 units were 32% completed as to labor and overhead at the end of the period. All materials are added at the beginning of the process. The first-in, first-out method is used to cost inventories. The number of equivalent units of production for conversion costs for the period was a.25,602 b.35,600 c.28,500 d.30,302

Answers

Answer: 25602

Explanation:

The number of equivalent units of production for conversion costs for the period will be calculated as follows:

Beginning work in process = 4700 × (100% - 78%) = 4700 × 22% = 1034

Add: Unit started and completed = 28,500 - 4700 = 23800

Add: Ending work in process = 2400 × 32% = 768

The equivalent units of production for conversion costs will be:

= 1034 + 23800 + 768

= 25602

If Marjorie makes an investment of principal, and leaves the full amount, both principal and interest in the account to some time in the future when she withdraws all funds, she is earning what type of interest

Answers

Answer: Compounding

Explanation:

Based on the information given, we can infer that Marjorie earns a compounding interest. The compound interest is the interest on a loan that is calculated based on the initial principal as well as the interest that is accumulated from the previous periods. In compounding interest, the interest is earned on the principal and the interest amount. The compounding interest is also referred to as the interest on interest.

Grays Company has inventory of 25 units at a cost of $6 each on August 1. On August 3, it purchased 35 units at $11 each. 27 units are sold on August 6. Using the FIFO perpetual inventory method, what amount will be reported as cost of goods sold for the 27 units that were sold?

Answers

Answer:

$174

Explanation:

Calculation to determine what amount will be reported as cost of goods sold for the 27 units that were sold

Cost of goods sold=(25 units*$6) + [(25 units -27units)*$12]

Cost of goods sold =$150+$24

Cost of goods sold=$174

Therefore the amount that will be reported as cost of goods sold for the 27 units that were sold is $174

Morgana Company identifies three activities in its manufacturing process: machine setups, machining, and inspections. Estimated annual overhead cost for each activity is $157,500, $421,600, and $60,000, respectively. The cost driver for each activity and the estimated annual usage are number of setups 2,100, machine hours 24,800, and number of inspections 1,200.

Required:
Compute the overhead rate for each activity.

Answers

Answer and Explanation:

The computation of the overhead rate for each activity is shown below:

Machine setup is

= $157,500 ÷ 2,100

= $75 per machine setup

Machining is

= $421,600 ÷ 24,800

= $17 per machine hour

And, for Inspections, it is

= $60,000 ÷ 1,200

= $50 per inspection

In this way it should be calculated

Molander Corporation is a distributor of a sun umbrella used at resort hotels. Data concerning the next month’s budget appear below: Selling price per unit $ 24 Variable expense per unit $ 18 Fixed expense per month $ 4,800 Unit sales per month 950 Required: 1. What is the company’s margin of safety? (Do not round intermediate calculations.) 2. What is the company’s margin of safety as a percentage of its sales?

Answers

Answer:

1.150 units

2. 15.79%

Explanation:

Margin of safety is the difference between the current level of profitability and the break-even level. In other words, it is excess of the current level of sales and the break-even sales computed using the formula below:

the margin of safety in units=current level of sales-breakeven sales

break-even sales=fixed expense/contribution margin

fixed expense=$4,800

contribution margin per unit=selling price-variable cost

contribution margin per unit=$24-$18

contribution margin per unit=$6

break-even sales=$4,800/$6

break-even sales units=800 units

the margin of safety in units=950-800

the margin of safety in units=150 units

the margin of safety as a percentage of its sales=150/950

the margin of safety as a percentage of its sales=15.79%

Suppose you borrow $9,875 and then repay the loan by making 12 monthly payments of $863.58 each. What is the effective annual rate (EAR) you are paying

Answers

Answer:

9.38%

Explanation:

PV = $9,875

PMT = $863.58

NPER = 12

Using the MS Rate Function to derive the Periodic rate

Periodic rate = Rate(NPER, -PMT, PV)

Periodic rate = Rate(12, -863.58, 9,875)

Periodic rate = 0.0075

Periodic rate = 0.75%

Nominal rate = Periodic rate * NPER

Nominal rate = 0.75% * 12

Nominal rate = 9%

Using the MS Effect Function to derive the effective annual rate (EAR)

Nominal rate = 9%

NPER = 12

Effective annual rate (EAR) = Effect(Nominal rate, NPER)

Effective annual rate (EAR) = Effect(9%, 12)

Effective annual rate (EAR) = 0.0938

Effective annual rate (EAR) = 9.38%

So, the the effective annual rate (EAR) you are paying is 9.38%.

Suppose that a competitive​ firm's marginal cost of producing output q​ (MC) is given by MC (q )equals6plus2 q. Assume that the market price​ (P) of the​ firm's product is ​$18 . What level of output​ (q) will the firm​ produce? The firm will produce nothing units of output. ​(Enter your response rounded to two decimal places.​)

Answers

Answer:

The firm will produce 6.00 units of output.

Explanation:

From the question, we have:

MC(q) = 6 + 2q ……………… (1)

P = $18 ………………………. (2)

For any firm, profit is maximized when MC = P. To determine the level of output (q) the firm will produce, we therefore equate equations (1) and (2) and solve for q as follows:

6 + 2q = 18

2q = 18 - 6

2q = 12

q = 12 / 2

q = 6.00

Therefore, the firm will produce 6.00 units of output.

U.S. real gross domestic product changed from $14.6 trillion in 2006 to $14.4 trillion in 2009. During that same time period, the share of manufactured goods (e.g., cars, appliances) of U.S. real gross domestic product was 12.8 percent in 2006 and 12.0 percent in 2009. What was the dollar value of manufactured output Instructions: Enter your responses rounded to two decimal places. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. a. In 2006

Answers

Answer:

Missing word "b. In 2009"

a. Dollar value (2006) = Real GDP (2006) * Share of manufacturing goods (2006) / 100

Dollar value (2006) = 14.6 * 12.8 / 100

Dollar value (2006) = 186.88 / 100

Dollar value (2006) = $1.8688 trillion

Dollar value (2006) = $1.87 trillion

Thus, the dollar value of manufactured output in 2006 is $1.9 trillion

b. Dollar value (2009) = Real GDP (2009) * Share of manufacturing goods (2009) / 100

Dollar value (2009) = 14.4 * 12.0 / 100

Dollar value (2009) = 172.8 / 100

Dollar value (2009) = $1.728 trillion

Dollar value (2009) = $1.73 trillion

Thus, the dollar value of manufactured output in 2009 is $1.7 trillion

During its fiscal year, a Pension Trust Fund buys 1,000 shares of stock, for which it pays $33,000. At year end, the stock has a fair value of $28,000. How should this fact be reported in the Trust Fund's financial statements?a. the investment should be reported at a value of $33,000.
b. the investment should be reported at a value of $33,000, and the loss in market value should be reported in a footnote.
c. the investment should be reported at a value of $30,500.
d. the investment should be reported at a value of $28,000.

Answers

Answer: d. the investment should be reported at a value of $28,000.

Explanation:

Investments should be recorded at their fair value in the financial statements. If a loss is made but the company is still holding on to the investment then the loss is unrealized which is the case here.

When there is an unrealized loss, it is to be debited to the Unrealized loss account and credited to the investment account to show that it is reducing. This will then leave the balance of the investment account at the fair value which in this case is $28,000.

A state's lottery winner is promised $200,000 a year for twenty years (starting at the end of the first year). How much must the state invest now to guarantee the prize if the state can earn annually 7 percent on its funds? How much must the state invest if the annual payments were made at the beginning of the year?

Answers

Answer and Explanation:

The computation is shown below:

The amount that should be invested in the case when it earns 7% on its funds is

Investment = pv(7%,20,200000,0,0)

= $2,118,802.85

ANd, the amount that should be invested at the starting of the year is

= pv(7%,20,200000,0,1)

= $2,267,119.05

The same should be considered

a)What are the expected returns and standard deviations of a portfolio consisting of:1.100 percent in stock A

Answers

Answer:

12%

1.00

Explanation:

Note that the expected return on stock A which is 12% is missing from the question as well as the standard deviation of A which is 1.00

The expected return from stock A with 100% of funds(total amount of investment) invested in stock A is the percentage invested in A multiplied by the expected return of stock  A shown thus:

expected return=100%*12%

portfolio expected return=12%

portfolio standard deviation(if 100% invested in A)=1.00*100%

(True) or (False)? The most common method companies use is double-declining balance, because it allows companies to recognize for depreciation expense up front.

Answers

Answer:

false

Explanation:

my teacher said it was false but she could be wrong

Soft Lumber has bonds, preferred stock and common stock as its capital components. _____________ is the right most apt to be granted to its preferred shareholders.

Answers

Answer: right to share in company profits prior to other shareholders

Explanation:

The preferred shareholders are paid their dividends before dividends are paid to other common shareholders. The preferred stock also gives no voting rights to the shareholders.

Preferred shareholders are known to have priority over the income of a company right to share in company profits prior to other shareholders.

In a slow year, Deutsche Burgers will produce 2.8 million hamburgers at a total cost of $3.4 million. In a good year, it can produce 4.8 million hamburgers at a total cost of $4.6 million.a. What are the fixed costs of hamburger production

Answers

Answer:

the fixed cost is $1.72 million  

Explanation:

The computation of the fixed cost is shown below:

= Total cost - variable cost

= $3.4 million - ($4.6 million - $3.4 million) ÷ $3.4 million - $.1.2 million ÷ $2 million

= $3.4 million - 2.8 million × $0.60 million

= $1.72 million

Hence, the fixed cost is $1.72 million  

Problem 9-1 Comparing Renting and Buying [LO9-2] Rental Costs Buying Costs Annual rent $ 7,380 Annual mortgage payments $ 9,800 ($9,575 is interest) Insurance 145 Property taxes 1,780 Security deposit 650 Insurance/maintenance 1,050 Down payment/closing costs 4,500 Growth in equity 225 Estimated annual appreciation 1,700 Assume an after-tax savings interest rate of 6 percent and a tax rate of 28 percent. (a) Calculate the total rental cost and total buying cost. (Round your intermediate calculations and final answers to the nearest whole number.) (b) Based on the cost criteria, would you recommend buying or renting

Answers

Answer:

        Computation of Rental Costs

Particulars                                        Amount

Rent                                                      $7,380

Insurance                                             $145

Loss of Interest on Security Deposit  $39      ($650*6%)

Total Rental Costs                               $7,564

         Computation of Buying Costs

Particulars                                        Amount

Annual Mortgage Payments              $9,800

Taxes, Insurance and Maintenance  $2,830 ($1,050+$1,780)

Loss of Interest on Down Payment   $270 (4,500*6%)

Growth in Equity                                -$225

Annual Appreciation                         -$1,700

Mortgage Interest Tax Savings        -$2,681 (9,575*28%)

Tax Savings from Property Taxes    -$498   (1,780*28%)

Total Buying Costs                            $7,796

b. Based on the cost criteria, i would recommend renting as it results in lesser cost

When you retire, you wish to have $3 million in your retirement account. You decided to add $2,000 every quarter to your retirement account and invest to generate annualized return of 8% from your investment, how many years do you think it will take to have $3 million in the account

Answers

Answer:

43.35 years

Explanation:

Use the following formula to determine the number of years

Future Value of Annuity = Periodic Annuity x ( 1 + Periodic Interest rate )^numbers of periods ) - 1 / Periodic Interest rate

Where

Future Value of Annuity = $3 million = $3,000,000

Periodic Annuity = $2,000 per quarter

Periodic Interest rate = Interest rate x Quarterly fraction = 8%  x 3/12 = 2%

Numbers of periods = n = ?

Placing values in the formula

$3,000,000 = $2,000 x ( 1 + 2% )^n ) - 1 / 2%

$3,000,000 / $2,000 = ( 1 + 2% )^n ) - 1 / 2%

1,500 =  ( 1.02 )^n ) - 1 / 2%

1,500 x 2% = ( 1.02 )^n ) - 1

30 = ( 1.02 )^n ) - 1

30 + 1 = 1.02^n

31 = 1.02^n

Log 31 = n log 1.02

n = Log 31 / Log1.02

n = 173.41

Now calculat ethe nUmbers of years as follow

Numbers of years = n x 3/12

Numbers of years = 173.41 x 3/12

Numbers of years = 43.35 years

Wildhorse Games Inc. adjusts its accounts annually. The following information is available for the year ended December 31, 2022.

1. Purchased a 1-year insurance policy on June 1 for $2,220 cash.
2. Paid $7,020 on August 31 for 5 months’ rent in advance.
3. On September 4, received $3,960 cash in advance from a corporation to sponsor a game each month for a total of 9 months for the most improved students at a local school.
4. Signed a contract for cleaning services starting December 1 for $1,080 per month. Paid for the first 2 months on November 30. (Hint: Use the account Prepaid Cleaning to record prepayments.)
5. On December 5, received $1,620 in advance from a gaming club. Determined that on December 31, $515 of these games had not yet been played.

Answers

Question Completion:

Prepare the necessary journal entries.

Answer:

Wildhorse Games Inc.

1. June 1: Debit Prepaid Insurance $2,220

Credit Cash $2,220

To record the payment for 1-year insurance policy.

2. August 31: Debit Prepaid Rent $7,020

Credit Cash $7,020

To record the payment for 5 months’ rent in advance.

3. September 4: Debit Cash $3,960

Credit Unearned Game Revenue $3,960

To record cash received in advance to sponsor a game each month for a total of 9 months.

4. November 30: Debit Prepaid Cleaning $2,16

Credit Cash $2,160

To record the payment for cleaning services for two months.

5. December 5: Debit Cash $1,620

Credit Unearned Games Revenue $1,620

Adjustments on December 31:

1. Debit Insurance Expense $1,295

Credit Prepaid Insurance $1,295

To record insurance expense for the period ($2,220 * 7/12).

2. Debit Rent Expense $5,616

Credit Prepaid Rent $5,616

To record rent expense for the period ($7,020 * 4/5).

3. Debit Unearned Games Revenue $1,760

Credit Earned Games Revenue $1,760

To record earned revenue ($3,960 * 4/9).

4. Debit Cleaning Expense $1,080

Credit Prepaid Cleaning $1,080

To record cleaning expense for the period.

5. Debit Unearned Games Revenue $1,105

Credit Earned Games Revenue $1,105

To record earned revenue.

Explanation:

a) Data and Analysis:

1. June 1: Prepaid Insurance $2,220 Cash $2,220 1-year insurance policy

2. August 31: Prepaid Rent $7,020 Cash $7,020 for 5 months’ rent in advance.

3. September 4: Cash $3,960 Unearned Game Revenue $3,960 to sponsor a game each month for a total of 9 months

4. November 30: Prepaid Cleaning $2,160 Cash $2,160

$1,080 per month. Paid for the first 2 months on November 30.

5. December 5: Cash $1,620 Unearned Games Revenue $1,620

Adjustments on December 31:

1. Insurance Expense $1,295 Prepaid Insurance $1,295 ($2,220 * 7/12)

2. Rent Expense $5,616 Prepaid Rent $5,616 ($7,020 * 4/5)

3. Unearned Games Revenue $1,760 Earned Games Revenue $1,760 ($3,960 * 4/9)

4. Cleaning Expense $1,080 Prepaid Cleaning $1,080

5. Unearned Games Revenue $1,105 Earned Games Revenue $1,105

Determine the amount to be added to Allowance for Doubtful Accounts in each of the following cases and indicate the ending balance in each case.
(a) Credit balance of $300 in Allowance for Doubtful Accounts just prior to adjustment. Analysis of Accounts Receivable indicates uncollectible receivables of $8,500.
(b) Credit balance of $500 in Allowance for Doubtful Accounts just prior to adjustment. Uncollectible receivables are estimated at 2% of credit sales, which totaled $1,000,000 for the year.

Answers

Answer:

a. Credit balance in the Allowance for Doubtful Accounts and already balance in Allowance account = $300

Estimated Doubtful accounts and balance maintained with Allowance for Doubtful Accounts= $8,500

Amount added to the Allowance for Doubtful Accounts = $8,500 - $300

Amount added to the Allowance for Doubtful Accounts = $8,200

Ending balance maintained with Allowance for Doubtful Accounts = $8,500

b. Credit balance in the Allowance for Doubtful Accounts and already balance in Allowance account = $500

Estimated Doubtful accounts and balance maintained with Allowance for Doubtful Accounts = $1,000,000 * 2% = $20,000

Ending balance maintained with Allowance for Doubtful Accounts = $20,000 + $500 = $20,500

Rank the following three stocks by their total risk level, highest to lowest. Night Ryder has an average return of 9 percent and standard deviation of 40 percent. The average return and standard deviation of WholeMart are 10 percent and 22 percent; and of Fruit Fly are 15 percent and 45 percent.

a. Fruit Fly, Night Ryder, WholeMart
b. Night Ryder, WholeMart, Fruit Fly
c. Night Ryder, Fruit Fly, WholeMart
d. WholeMart, Fruit Fly, Night Ryder

Answers

A. Fruit fly, mighty Ryder, whilemwrt

Fruit Fly, Night Ryder, WholeMart is the three stocks by their total risk level, highest to lowest. Night Ryder has an average return of 9 percent. Hence, option A is correct.

What is standard deviation?

The term "standard deviation" (or "") refers to a measurement of the data's dispersion from the mean. A low standard deviation implies that the data are grouped around the mean, whereas a large standard deviation shows that the data are more dispersed.

Example: How many people had scores on a recent test that were lower than yours, which was 0.5 standard deviations above the mean? 19.1% falls between 0 and 0.5. 50% is less than zero.

A low standard deviation indicates that the data are tightly grouped around the mean, while a high standard deviation indicates that the data are widely dispersed (less dependable) (more reliable).

Thus, option A is correct.

For more information about standard deviation, click here:

https://brainly.com/question/23907081

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During a period, an RV company purchased three vehicles for $33,000, $46,000, and $24,000, and sold two of them for $125,000. Using the specific identification method of costing inventory, they identified the $46,000 vehicle as still in stock. Calculate the gross profit for the period.

Answers

Answer: $68,000

Explanation:

If the inventory that remains is the $46,000 then that means that the cars costing $33,000 and $24,000 have been sold.

With specific identification, the actual prices of the stock are used so the cost of goods sold is:

= 24,000 + 33,000

= $57,000

The gross profit is therefore:

= Sales - Cost of goods sold

= 125,000 - 57,000

= $68,000

Somerset Computer Company has been purchasing carrying cases for its portable computers at a purchase price of $62 per unit. The company, which is currently operating below full capacity, charges factory overhead to production at the rate of 45% of direct labor cost. The unit costs to produce comparable carrying cases are expected to be as follows:

Direct materials $8.00
Direct labor 12.00
Factory overhead (40% of direct labor) 4.80
Total cost per unit $24.80

If Somerset Computer Company manufactures the carrying cases, fixed factory overhead costs will not increase and variable factory overhead costs associated with the cases are expected to be 25% of the direct labor costs.

Required:
Prepare a differential analysis dated April 30 to determine whether the company should make (Alternative 1) or buy (Alternative 2) the carrying case.

Answers

Answer:

Somerset Computer Company

Differential Analysis dated April 30:

                                                 Make                  Buy      

                                            Alternative 1    Alternative 2    Difference

Variable cost per unit           $23.00                $62.00           $39.00

Explanation:

a) Data and Calculations:

Purchase price per portable computer carrying case = $62

Unit cost of production:

Direct materials                                     $8.00

Direct labor                                            12.00

Factory overhead (40% of direct labor) 4.80

Total cost per unit                              $24.80

Unit cost of production, with overhead broken into fixed and variable:

Direct materials                                     $8.00

Direct labor                                            12.00

Factory overhead

Fixed overhead                                       1.80

Variable overhead                                 3.00

Total cost per unit                             $24.80

b) With a net gain of $39 per unit, the company should make the unit (Alternative 1) instead of buying it (Alternative 2).

​Tri-County G&T sells 145,000 MWh per year of electrical power to Boulder at ​$ per​ MWh, has fixed costs of ​$ million per​ year, and has variable costs of ​$ per MWh. If​ Tri-County has MWh of demand from its customers​ (other than​ Boulder), what will​ Tri-County have to charge to break​ even?

Answers

Answer:

$105.85

Explanation:

Given that :

Fixed cost = $83.1 million

Variable cost = $30 / MWh

Number of demand, $1,000,000 MWh

Variable cost to other customers =[(1,000,000 + 145000) * $30) = $34350000

To break even :

Total Cost = Total revenue

(fixed Cost + variable cost) = total revenue

Let amount per MWh required to break even = x (amount sold to other customers)

(83100000 + 34350000) = (145000*80 + 1000000x)

117450000 = 11600000 + 1000000x

117450000 - 11600000 = 1000000x

105850000 = 1000000x

x = 105850000 / 1000000

x = $105.85

International trade in goods and services is a major component of the globalization process.

a. True
b. False

Answers

it’s true periodddddddddddd

QS 5-6 Perpetual: Inventory costing with weighted average LO P1 A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 350 units. Ending inventory at January 31 totals 150 units. Units Unit Cost Beginning inventory on January 1 320 $ 3.00 Purchase on January 9 80 3.20 Purchase on January 25 100 3.34 Required: Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method. (Round your per unit costs to 2 decimal places.)

Answers

Answer:

Perpetual Inventory Company

The cost assigned to ending inventory based on the weighted average method is:

= $465 ($3.10 * 150)

Explanation:

a) Data and Calculations:

                                                           Units Unit Cost   Total Cost

Beginning inventory on January 1    320   $ 3.00             $960

Purchase on January 9                       80      3.20                256

Purchase on January 25                   100      3.34                 334

Total available for sale                     500       3.10            $1,550

Sale on January 26                         (350)      3.10              1,085

Ending inventory on January 31       150       3.10                465

Suppose you buy some stock in the Alpha Corporation at a price of $45.95 per share. 410 days later you sell the stock for $48.27. During this period you received a per share dividend of $1.20. What is your annualized return on this investment

Answers

Answer: 6.79%

Explanation:

The holding period return is:

= (Current price - Cost price + Dividend) / Cost price

= (48.27 - 45.95 + 1.20) / 45.95

= 7.66%

The annualized return is:

= ( ( 1 + holding period return) ^ number of days in a year/ number of days stock was held - 1)

= ( ( 1 + 7.66%) ³⁶⁵ / ⁴¹⁰ - 1)

= 6.79%

Adonis Corporation issued 10-year, 11% bonds with a par value of $300,000. Interest is paid semiannually. The market rate on the issue date was 10%. Adonis received $318,696 in cash proceeds. Which of the following statements is true?

a. Adonis must pay $300,000 at maturity plus 20 interest payments of $16,500 each.
b. Adonis must pay $300,000 at maturity and no interest payments.
c. Adonis must pay $318,696 at maturity plus 20 interest payments of $16,500 each.
d. Adonis must pay $300,000 at maturity plus 20 interest payments of $15,000 each.
e. Adonis must pay $318,696 at maturity and no interest payments.

Answers

Answer:

a. Adonis must pay $300,000 at maturity plus 20 interest payments of $16,500 each

Explanation:

It should be noted that at maturity bond issuers usually pay back the face value of the bond to bondholders except where they also pay a premium of the face value which is not the case here, hence, the face value of $300,000 would be repaid at maturity.

There would 20 semiannual coupon payments in 10 years bond tenor and the value of each semiannual coupon is computed thus:

semiannual coupon=face value*coupon rate/2

coupon rate=11%(11% bonds means that coupon rate is 11%)

semiannual coupon=$300,000*11%/2

semiannual coupon=$16,500

Use the starting balance sheet and the list of changes to create an updated balance sheet and to answer the question.

Valley Technology Balance Sheet As of December 31, 2020 (amounts in thousands)
Cash 2,200 Liabilities 3,600
Other Assets 2,800 Equity 1,400
Total Assets 5,000 Total Liabilities 5,000

Between January 1 and March 31, 2021:

1. Cash decreases by $200,000
2. Liabilities decrease by $100,000
3. Equity increases by $400,000

What is the value for Other Assets on March 31, 2021?

Answers

Answer: $3,300,000

Explanation:

Accounting formula:

Assets = Equity + Liabilities

Total equity and liabilities on March 31 is:

= Beginning balance - decrease in liabilities + Increase in Equity

= 5,000,000 - 100,000 + 400,000

= $5,300,000

Assets therefore has to be $5,300,000 on the same date.

Assets = New cash balance + Other assets

5,300,000 = (2,200,000 - 200,000) + Other assets

Other assets = 5,300,000 - 2,000,000

= $3,300,000

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