Answer:
$77,000
Explanation:
Calculation to determine what The amount of bad debt expense which should be reported for the year is
Using this formula
Bad debt expense=Allowance for Doubtful Accounts debit balance +Estimated uncollectible receivables
Let plug in the formula
Bad debt expense=$7,000+$70,000
Bad debt expense=$77,000
Therefore The amount of bad debt expense which should be reported for the year is $77,000
As the time frame shifts from the short run to the long run, what happens to consumers who are subject to a binding price floor
Answer:
In simple words, as the frame shifts from short to long run, the costumers who are bidden by the price floor will be more attracted to some substitute good which will further result in more elasticity of the product itself. More elasticity means that the quantity demanded of a product changes to a greater extent in relation to a change in price.
A lease agreement contains a clause that gives the tenant the right to purchase the property at a specified price. This type of agreement is called a
Answer: Finance Lease
Explanation:
There are two main types of leases which are operating leases and finance leases. Operating leases work much like an asset being rented so no ownership is passed from the person leasing to the leasee.
When it comes to finance leases however, the person leasing treats the asset as if it is their own. They record depreciation and list it as an asset in their balance sheets. At the end of the lease term, the leasee then has the option to purchase the asset.
Martinez owns an asset that cost $87,000 with accumulated depreciation of $40,000. The company sells the equipment for cash of $42,000. At the time of sale, the company should record:
Answer:
A loss on sale of $5,000
Explanation:
Calculation to determine what the company should record at the time of sales
First step is to calculate the Book value as on date of sale using this formula
Book value as on date of sale=Cost-Accumulated depreciation
Let plug in the formula
Book value as on date of sale=87,000-40,000
Book value as on date of sale=$47,000
Based on the above calculation the sale proceeds is lower than the book value as on date of sale which indicate a loss
Hence:
Loss =($47,000-$42,000)
Loss=$5000
Therefore At the time of sale, the company should record: A loss on sale of $5,000.
If we plot John's opportunity cost per window on the vertical axis and the number of windows cleaned each day on the horizontal axis, we will have John's ______ curve for window-cleaning services.
Answer:
Supply
Explanation:
The supply curve can be regarded as graphic representation that display
correlation that exist between the cost of a good/service as well as quantity supplied for particular period. on the left vertical axis there is price, while on Horizontal axis there is quantity supplied. The vertical distance between supply curve as well as horizontal axis is the marginal opportunity cost required to add a unit to quantity. The area under the supply curve goes up to quantity supplied is total alternative opportunity cost, and it's Summation of marginal costs.
For instance, If we plot John's opportunity cost per window on the vertical axis and the number of windows cleaned each day on the horizontal axis, we will have John's supply curve for window-cleaning services.
During the period after a real estate sales contract is signed, but before title actually passes, the status of the contract is
Question options:
a. voidable
b. executory
c. unilateral
d. implied
Answer:
b. executory
Explanation:
Executory means something that is yet to be finished or concluded so that it becomes valid. An executory contract is in the process of being completed and is therefore considered invalid until it is fully assuredly finished, signed, sealed and delivered.
An executory contract between two parties means contract has been signed but duties promised by either or both parties is yet to be fulfilled and will be done at a later date for contract to be fully executed.
The Texas Constitution mandates that money spent on debt service cannot exceed more than what percentage of state revenue
Answer:
5 percent
Explanation:
The Texas Constitution mandates that money spent on debt service cannot exceed more than 5 percent. When the state of Texas was established, Texas had very little debt. So, as a result, the Constitution was created and it states that it can not exceed 5%. Therefore, the answer is 5 percent.
Over the last several years, the United States has run a ________ in the goods trade balance and a ________ in the services trade balance.
Answer:
deficit
surplus
Explanation:
When exports exceed import there is a trade deficit and when import exceeds import, there is a trade surplus.
export would comprise of goods and services produced in the US that are been sold to foreign countries
Import would comprise of foreign produced goods and services that are been sold in the US
In 2020, trade deficit was $678.7 billion in 2020
Which section of a business plan gives details about a business’s core products and services?
The section of a business plan talks about a business’s core products and services, and their features and benefits to the consumers.
Answer:
Executive summary.
Explanation:
A business plan can be defined as a formally written document that comprises of the financial and operational objectives (plans) of a business firm.
Basically, a business plan is a roadmap or guide that outline the goals of a business, methods on how to achieve those goals, and the timeframe required to achieve those goals.
A business plan should be written in such a way that it comprises of all the important informations that an investor looks out for, in order to convince him or her to invest money in the business. Thus, the main section (contents) of a business plan include the following;
I. Title page.
II. Market analysis and competition.
III. Industry overview.
IV. Operating plan.
V. Sales and marketing plan.
VI. Financial plan.
VII. Management plan.
VIII. Appendices and exhibits.
IX. Executive summary.
The executive summary section of a business plan talks about a business’s core products and services, and their features and benefits to the consumers. Thus, the executive summary is the most important section of a business plan because it provides a concise summary of the business and it's the first section to be seen by an investor.
Swifty Company developed the following information about its inventories in applying the lower-of-cost-or-net realizable value basis in valuing inventories. Product Cost Net realizable value A $112000 $122000 B 84000 76000 C 153000 156000 If Swifty applies the LCNRV basis, the value of the inventory reported on the balance sheet would be $354,000. $362,000. $341,000. $349,000.
Answer:
$341,000
Explanation:
Calculation to determine what the value of the inventory reported on the balance sheet would be
Inventory value=$112000+ 76000+153000
Inventory value=$341,000
Therefore If Swifty applies the LCNRV basis, the value of the inventory reported on the balance sheet would be $341,000
Sal bought a personal residence for $150,000. He made $150,000 of improvements during the three years he lived in it before he sold it. He sold the home for $750,000 and paid $50,000 in selling expenses, including the broker's commission. On what amount will he pay capital gains tax
Answer: $150,000
Explanation:
It should be noted that when an individual sells a personal residence, there's an exclusion of $250,000 on th capital gains tax.
Therefore, the amount that will be paid for capital gain tax will be:
Sales price = $750,000
Less: Cost price = $150,000
Less: Improvements = $150,000
Less: Selling expenses = $50,000
Less: Exclusion = $250,000
Capital gain tax = $150,000
Based on the above calculation, the capital gain tax is $150,000.
9. A necessary condition for international portfolio diversification to be beneficial is that: a. The various national market returns exhibit low correlation. b. The various national market returns exhibit high correlation. c. The various national market returns are perfectly positively correlated. d. The various national market returns exhibit correlations that are non-unity. e. The various national market returns are perfectly negatively correlated.
Answer:
A
Explanation:
International portfolio diversification is the process by which an investor diversifies her portfolio by holding both domestic and foreign assets in her portfolio. The aim of this strategy is to reduce the risk of the portfolio.
Correlation is a statistical measure used to measure the relationship that exists between two variables.
1. Positive correlation : it mean that the two variables move in the same direction. If one variable increases, the other variable also increases.
For example, there should be a positive correlation between quantity supplied and price
When there is a positive correlation, the graph of the variables is upward sloping
2. Negative correlation : it mean that the two variables move in different direction. If one variable increases, the other variable decreases.
For example, there should be a negative correlation between quantity demanded and price
When there is a negative correlation, the graph of the variables is downward sloping
3. Zero correlation : there is no relationship between the variables
For an international diversified portfolio, the optimal situation is for the domestic and foreign investments to have little or no correlation
Which term is used to designate an economic agent appointed to act on behalf of smaller investors in collecting information
Answer:
Delegated monitor
Explanation:
Delegated monitor is a term used to designate an economic agent appointed to act on behalf of smaller investors in collecting information.
The delegated monitor act as an in intermediary for small investors.
Delegated monitoring means delegating/vesting the role of monitoring with an economic agent. The economic agent is referred to as the delegated monitor.
Based on the substitution effect, which example reflects how people would likely respond to a rise in gas prices
Answer:
People will purchase more fuel efficient cars
Explanation:
People will purchase more fuel efficient cars in order to reduce the consumption of gas.
Better still, this will also leads to increase in the quantity demanded for electric cars; as they did not require gas to operate.
If a price index rose from 16.2 in 2010 to 22.5 in 2019, what would the inflation rate be over the period
Answer:
3.8%
Explanation:
The price rose from 16.2 to 22.5 from 2010 to 2019
16.2-22.5/16.2 ×100
= 6.3/16.2 × 100
= 0.38×100
= 3.8%
On December 31, 2021, Coolwear Inc. had balances in Accounts Receivable and Allowance for Uncollectible Accounts of $48,000 and $1,400, respectively. During 2022, Coolwear wrote off $625 in accounts receivable and determined that there should be an allowance for uncollectible accounts of $4,100 at December 31, 2022. Bad debt expense for 2022 would be:
Answer:
$3,325
Explanation:
Bad Debt Expense = Allowance for uncollectible accounts 2022 - (Allowance for uncollectible accounts 2021 - Written off in accounts receivable
Bad Debt Expense = $4,100 - ($1,400 - $625)
Bad Debt Expense = $4,100 - $775
Bad Debt Expense = $3,325
So, the bad debt expense for 2022 would be $3,325.
The emphasis of the Second New Deal was on a.economic recovery, creating government programs to address the immediate needs of the unemployed. b.protecting the rights of businesses, especially small businesses. c.economic security, in an effort to protect Americans against poverty and unemployment. d.civil rights for African-Americans.
The correct answer is A) economic recovery, creating government programs to address the immediate needs of the unemployed.
The emphasis of the Second New Deal was on economic recovery, creating government programs to address the immediate needs of the unemployed.
The Second New Deal included new programs to extend federal aid and stimulate the nation's economy, such as the Rural Electrification Administration.
In the decade of 1930s, rural America had no electricity and clear water. The Rural Electrification Administration hired Lester Beall, a graphic designer that created a series of posters describing the benefits of electrification for the communities.
Another example is President Roosevelt’s works progress administration of 1935 that considered many infrastructure programs for the benefit of the U.S. citizens. He also considered the Federal Project Number One. This was a program aimed to help writers, musicians, and artists. Roosevelt aimed to get jobs for these people in order to entertain the American citizens during those difficult times.
Suppose you borrow at the risk-free rate an amount equal to your initial wealth and invest in a portfolio with an expected return of 16 percent and a standard deviation of returns of 20 percent. The risk-free asset has an interest rate of 4 percent. Calculate the expected return and the standard deviation of the resulting portfolio. (2 2)
Answer:
The answer is
2(16) - (4) =28%
The manager of a certain division at Alpha Manufacturing is evaluated on how efficiently the division uses equipment, buildings, and other assets to generate profits. This division is considered a(n): Multiple choice question. cost center investment center profit center asset center
Answer:
investment center
Explanation:
From the question we are informed about The manager of a certain division at Alpha Manufacturing who evaluated on how efficiently the division uses equipment, buildings, and other assets to generate profits. This division is considered a investment center. Investment center can be regarded as business unit in a particular organization , which is able to utilize capital in contributing directly to a profitability of the organization. Organization can evaluate the performance of an investment center by consideration of revenues it generate as regards investments.
The manager of a certain division at Alpha Manufacturing is evaluated on how efficiently the division uses equipment, buildings, and other assets to generate profits which are known as an investment center.
What is an investment center?
The investment center has the responsibility to manage the business funds and capital in a manner that creates huge profit revenues. The center monitors and controls the expenses, revenues, and assets of the business.
Therefore, it has to ensure that all resources are being optimized and are allocated effectively to generate profits.
Learn more about business divisions here:
https://brainly.com/question/1196005
In the context of Web marketing, the _____ is computed by dividing the number of clicks an ad gets by the total impressions bought.
Answer:
Click-through rate
Explanation:
In the context of Web marketing, the click-through rate is computed by dividing the number of clicks an ad gets by the total impressions bought.
Knowledge Check 01 Month Tickets Sold Cost March 1,500 $ 10,000 April 2,000 $ 15,000 May 3,500 $ 19,000 June 2,500 $ 17,000 July 4,000 $ 22,000 The Movie Company has been in business for 5 months and wants to estimate its variable cost of tickets sold. Using the data from this chart and the high-low method, what is the variable cost for the Movie Company
Answer:
Variable cost per unit= $24
Explanation:
Giving the following information:
Month Tickets Sold Cost
March 1,500 $ 10,000
April 2,000 $ 15,000
May 3,500 $ 19,000
June 2,500 $ 17,000
July 4,000 $ 22,000
To calculate the variable cost, we need to use the following formula:
Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)
Variable cost per unit= (22,000 - 10,000) / (4,000 - 3,500)
Variable cost per unit= $24
economic systems from the most government involvement in the economy to least government involvement.
Explanation:
In a command economy, the system is controlled by the government. A mixed economy is partly run by the government and partly as a free market economy, which is an economic system that includes no government intervention and is mainly driven by the law of supply and demand.
A simple, direct space heating system is currently being used in a professional medical office complex. An upgraded "variable air-volume system" retrofit can be purchased and installed for $200,000 (investment cost). Its power savings in the future will be 500,000 kilo-Watt hours per year over its estimated life of 8 years. The cost of electricity is $0.10 per kilo-Watt hour. If the firm’s cost of capital is 12% per year and the residual value of the system in 8 years is $20,000, should the new system be purchased? Use the present worth method.
Answer:
Since the present worth (PW) is $56,459.65 and positive, the new system should be purchased.
Explanation:
C = Cost of the upgraded "variable air-volume system" retrofit = $200,000
S = Residual value of the system = $20,000
n = Estimated life of the upgraded "variable air-volume system" retrofit = 8
r = cost of capital per year = 12%, or 0.12
P = Amount of power savings per year = Number of kilo-Watt hours per year * Cost of electricity per kilo-Watt hour = 500,000 * $0.10 = $50,000
Using the formula for calculating the present value (PV) or ordinary annuity, the PV of P can be calculated:
PV of P = P * ((1- (1/(1 + r))^n) / r) = $50,000 * ((1- (1/(1 + 0.12))^8) / 0.12) = $248,381.99
The PV of the residual value (PV of S) can be calculated as follows:
PV of S = S / (1 + r)^n = $20,000 / (1 + 0.12)^8 = $8,077.66
The present worth (PW) can now be calculated as follows:
PW = PV of P + PV of S - C = $248,381.99 + $8,077.66 - $200,000 = $56,459.65
Since the present worth (PW) is $56,459.65 and positive, the new system should be purchased.
Based on the various costs of the heating system, the savings it will bring, and the present worth method, the system should be purchased.
Why should the system be purchased?It should be purchased if the Net Present Worth is above $0.
Net Present Worth = Present worth of inflows - Present of outflows
Inflows = Savings + Residual value
Savings are:
= 500,000 kilo-wat hours x 0.10 kilo-watt per hour
= $50,000
Net present worth:
= ( (50,000 x (P/A,12%,8 years)) + (20,0000 x (P/F, 12%, 8 years))) - 200,000
= $56,458
In conclusion, the NPW is more than $0 so this system should be picked.
Find out more on the Present Worth/ Value Method at https://brainly.com/question/13228231.
On August 1 of Year 1, an accountant collected cash in exchange for an agreement to provide consulting services for one year beginning immediately. Based on this information, the year-end adjustment required to recognize earned revenue will affect the ______.
Answer: See explanation
Explanation:
Since we are informed that on
August 1 of Year 1, an accountant collected cash in exchange for an agreement to provide consulting services for one year beginning immediately. From this information, the year-end adjustment required to recognize earned revenue will affect the revenue account as there'll be:
• decrease the balance in the unearned revenue account.
• increase the balance in the revenue account.
The percentage of times a customer service representative is able to resolve a customer issue in just one phone call is an example of a ______ used for performance appraisal.
Answer:
quantitative metric
Explanation:
Quantitative metrics can be regarded as click-through rates, as well as time on sites, or some other measure that is used in online marketing which can be well represented numerically. quantitative data is been chosen by Many marketers since it be solve on spreadsheet and creation of statistics and comparison points is possible.
It should be noted that percentage of times a customer service representative is able to resolve a customer issue in just one phone call is an example of a quantitative metric
used for performance appraisal.
Luebke Incorporated has provided the following data for the month of November. The balance in the Finished Goods inventory account at the beginning of the month was $55,000 and at the end of the month was $30,300. The cost of goods manufactured for the month was $213,500. The actual manufacturing overhead cost incurred was $55,900 and the manufacturing overhead cost applied to Work in Process was $59,200. The company closes out any underapplied or overapplied manufacturing overhead to cost of goods sold. The adjusted cost of goods sold that would appear on the income statement for November is:
Answer:
234,900
Explanation:
Calculation to determine what The adjusted cost of goods sold that would appear on the income statement for November is:
First step is calculate the Over applied overhead
Over applied overhead = $59,200-$55,900
Over applied overhead = 3300
Second step is calculate the Unadjusted cost of goods sold
Unadjusted cost of goods sold = 55000+$213,500-30,300
Unadjusted cost of goods sold= 238,200
Now let determine the Adjusted cost of goods sold
Adjusted cost of goods sold = $238,200-3300
Adjusted cost of goods sold= 234,900
Therefore The adjusted cost of goods sold that would appear on the income statement for November is:234,900
The three types of buying situations Question 18 options: are theoretical and have little relation to what happens in the real world. suggest that B2B sellers should develop one marketing mix to use for all situations. require business sellers to be consistent in their marketing mixes. create confusion among B2B sellers. call for different marketing and selling strategies.
Answer:
call for different marketing and selling strategies.
Explanation:
Remember, the three types of buying situations are;
new buys,modified rebuys, andstraight buys.For example, in the new buy situation, a single organization is the first to buy a particular product or service, Hence, we would expect the provision of more product and service descriptions than in a straight rebuy situation where the organization is already familiar with the products and just simply reorders an existing product or service from preferred suppliers.
Pam hires Will to acquire and deliver a shipment of doodlebugs within two weeks, with time being of the essence. Will receives the shipment of doodlebugs, but Tony offers Will more money for the doodlebugs than Pam offered. Will does not expect to receive any more doodlebugs before his delivery date for Pam. Will decides to deliver the doodlebugs to Tony and collect the larger payment. Will's choice is an example of...
Answer:
a violation of the duty to perform in good faith.
Explanation:
Since in the situation it is mentioned that pam hired will for purchasing and delivering the shipment within 2 weeks but at the same time tony offered more money so he decided to delivered to tony and in return he collect the larger payment amount so here will have done the violation with respect to the duty in order to perform in the good faith
H2 O'Yeah has designed a water purification device that is drastically different and far superior to any product currently on the market. Although consumer response was positive to the idea of the new product, management wants to find out more before committing to full-scale production. The next step H2 O'Yeah's marketing department is likely to take is to Multiple Choice locate a low-cost production site. seek a joint venture with a larger competitor. test market the product among potential users. develop an advertising campaign to persuade consumers of the value of the new water purifier system.
Answer:
test market the product among potential users.
Explanation:
In the context, it is given that a water purification device manufacturing company, H2 O'Yeah had designed a purification device which is far more better and efficient than any other water purification device currently present in the market.
The customer response about the design of the new purification device was also positive. But before going for mass production of the device, the company, H2 O'Yeah wanted to find out more about the customer 's response and so they are going to test market the device among the potential customers and will take their feedbacks and advices before full scale production.
It is an efficient way for a successful development of a product and knowing about the feedback about the customers.
Therefore the correct answer is "test market the product among potential users."
One way of dealing with the tradeoff between range and precision is to abandon the concept of a fixed ____________________ point.
Answer:
"Radix" is the correct answer.
Explanation:
An official information type representation over a certain integer with a specific percentage of numbers just after the point (radix), is defined as a fixed point.A symbolic sign for the separation of such an integers component from its population proportion throughout mathematical recognition is termed as a Radix point.Thus the above is the correct answer.
Why is price important to a company?
A.
It covers their costs.
B.
It is a part of the marketing mix.
C.
It makes customers purchase their products.
D.
It brings the company profits and decides its ability to survive in the market.
Answer:
B. It is a part of the marketing mix.
Explanation:
Price refers to the amount of money a customer or consumer buying goods and services are willing to pay for the goods and services being offered. The price of goods and services are primarily being set by the seller or service provider.
Price is important to a company because it is a part of the marketing mix.
Generally, a marketing mix is made up of the four (4) Ps;
1. Products: this is typically the goods and services that gives satisfaction to the customer's needs and wants. They are either tangible or intangible items.
2. Price: this represents the amount of money a customer buying goods and services are willing to pay for it.
3. Place: this represents the areas of distribution of these goods and services for easier access by the potential customers.
4. Promotions: for a good sales record or in order to increase the number of people buying a product and taking services, it is very important to have a good marketing communication such as advertising, sales promotion, direct marketing etc.
Price is generally considered to be a variable in the marketing mix that is most flexible because unlike other elements of production, it can be easily changed. An organization can decide to either raise or lower it's price depending on the nature of the market.
