Answer:
SOX requires the Chief Executive Officer (CEO) and the Chief Financial Officer (CFO) to certify the accuracy of the financial statements.
Explanation:
This requirement ensures the public accountability of the top chief executive officers of publicly-traded companies. The CEO is at the helm of affairs of the company, while the CFO has responsibility for the financial records, which produced the financial statements. This is the reason that the two top managers are required to sign off the financial statements, thus, vouching their accuracy.
Upper Darby Park Department is considering a new capital investment. The following information is available on the investment. The cost of the machine will be $150,000. The annual cost savings if the new machine is acquired will be $40,000. The machine will have a 5-year life, at which time the terminal disposal value is expected to be $20,000. Upper Darby Park Department is assuming no tax consequences. If Upper Darby Park Department has a cost of capital of 10%, which of the following is closest to the net present value of the project?
a. $1,632
b. $12,418
C. $14,060
d. $150,000
Answer:
c.$14,060
Explanation:
I hope my answer is correct
Supplies are assets until they are used. When they are used up, their costs are reported as expenses. The costs of unused supplies are recorded in a Supplies asset account. Supplies are often grouped by purpose—for example, office supplies and store supplies. Office supplies include paper, toner, and pens. Store supplies include packaging and cleaning materials.
Question Completion:
Describe the accounting treatment of Supplies Expenses.
Answer:
Supplies Expenses are debited while the Supplies account is credited with the supplies expenses.
Explanation:
This accounting treatment of Supplies Expenses reduces the balance of the Supplies account by the amount of supplies used during the period. Thus, what is left in the Supplies account is the cost of the unused supplies at the end of the accounting period. The treatment also accords with the accrual concept, which requires that expenses are matched to the revenues that they generate in the period.
On January 1, Year 1, Renquist Corp. borrowed $100,000 by signing a 5-year note payable with annual interest of 8%. The terms of the contract require Renquist to repay the principal over 5 years with a payment of $20,000 made at the end of each year. On December 31, Year Renquist made the first payment plus interest On January 1 Year 2. what portion of the note should be classified as noncurrent liabilities?
a. $60,000
b. $20,000
c. $80,000
d. $100,000
Answer: $60,000
Explanation:
The portion of the note that should be classified as noncurrent liabilities will be calculated thus:
Note payable balance on January 1, year 1 = $100,000
Since the terms of the contract require Renquist to repay the principal over 5 years with a payment of $20,000 made at the end of each year, the note payable repaid on December 31, year 1 will be $20,000
Therefore, the note payable balance on Jan 1, year 2 will then be:
= $100,000 - 20,000
= $80,000
Therefore, from the $80,000 note payable, $20,000 will represent current liabilities. Hence, the non current liabilities will be:
= $80000 - $20000
= $60000
Examine a product that has recently changed prices when you were at the grocery store in the past week. Analyze one determinant of supply and demand that has created the price to increase or decrease in your example. How did the change in demand or supply affect the market price in your example
Answer:
In the store the bread seemed to have a higher demand this week. When we went monday the shelfs were full of bread and the bread was 3.75 and when we went saturday it was 3.99. I think because it was in higher demand the bread went uo in cost so they wouldn't sell out.
As we’re well aware, vending machines are used to sell snacks and beverages, whereas newspapers are sold out of a box that allows anyone to take more than one paper. How does the concept of diminishing marginal utility explain the different distribution techniques for newspapers vs. snacks and beverages? Identify two additional examples of an item whose diminishing marginal utility is high. Remember: Marginal utility is the change in total utility that results from a one-unit increase in the quantity of a good consumed; diminishing marginal utility is the general tendency for marginal utility to decrease as the quantity of a good consumed increases.
Answer:
Because people do not need a second newspaper, it will not bring any more information to their lives, rather than a second soda can or snack.
Explanation:
The law of diminishing marginal utility states that there are some products or services to which an increase in the consumption will not bring the same utility for the user as the right amount, for example, if you eat a slice of pizza, it will bring certain benefit, you'll be less hungry but if you eat 7 slices of pizza at some point you'll no longer be hungry and it will rather make you sick, in this case vending machines have a higher marginal utility, a person could drink 3 or 4 drinks or take 4 or 5 snacks before it makes them feel sick, whilst a person that buys a person buying a newspaper won't need a second one, even if it is for his/her family, a 5 people house has enough newspaper by taking 1 copy of it.
Other examples of this can be a vacuum cleaner, you don't need a second one if you already have one, or a house buying a second house ain't as necessary as the first one.
If a company is going to use this method of dealing with surplus employees effectively, it must protect the bottom line and the corporate brand, pay attention to survivors, and identify the work that is core to sustaining a profitable business.
a. Attrition
b. Downsizing
c. Voluntary separation
d. Reducing compensation
Answer: Downsizing
Explanation:
Downsizing refers to the permanent reduction in the labor force of a company. Downsizing is common in organizations as it is associated with failing businesses and economic downturns.
Since the company is going to downsize, it must protect the bottom line and the corporate brand, and pay attention to survivors. The brand of the company should be protected as he downsizing might generate bad news hence it should be protected.
the black shoe company produces its famous madison shoe, which sell for $60m per pair, the operating income for 2020 is as follows: Revenues $300,000 Variable costs $120,000 Fixed costs $108,000
What is the break-even point in units?
actor Co. can produce a unit of product for the following costs: Direct material $ 8.60 Direct labor 24.60 Overhead 43.00 Total product cost per unit $ 76.20 An outside supplier offers to provide Factor with all the units it needs at $48.40 per unit. If Factor buys from the supplier, the company will still incur 60% of its overhead. Factor should choose to:
Answer:
Relevant cost to make = Direct materials + Direct labor + Variable overhead
Relevant cost to make = $8.60 + $24.60 + $43.00 (1-60%)
Relevant cost to make = $8.60 + $24.60 + $17.20
Relevant cost to make = $50.40
Outside supplier cost ($48.40) < Relevant cost to make ($50.40). So, Factor should choose to buy because the relevent cost is less than outside supplier cost.
A business manager finds that the building expense each month is completely uncorrelated with revenue levels. What should the business manager assume about this cost?
Answer:
The business manager should assume that the building expense is fixed.
Explanation:
Fixed costs are not correlated with the revenue levels. Within the relevant range, fixed costs remain constant. They do not vary with the activity levels as variable costs do. For example, a manufacturer must pay for rent, repairs and maintenance, and utility bills irrespective of the revenue levels at which it is operating. This is why the business manager always discovers that the building expense each month does not correlate with the revenue levels, unlike the product's variable costs.
name two product with an inelastic demand
Answer:
everything can be found in the picture
Which of the following is the best definition of transferable skills?
Answer:
Skills that you may have learned in one context that you can take with you to many other contexts and industries.
Explanation:
Considering the available options, the best definition of transferable skills is "Skills that you may have learned in one context that you can take with you to many other contexts and industries."
This is based on the fact that transferable skills are skills and talents or proficiency that are considered suitable and valuable across different situational roles, including social context, and professional context. Good examples are creativity, leadership, and time management.
A small firm builds television antennas. The investment in plan and equipment is $200,000. The variable cost per television antenna is $500. The price of the television antenna is $1000. How many television antennas would be needed for the firm to break even
Answer:
Break-even quantity is 400 units.
Explanation:
Below is the calculation for the number of television antennas:
At break-even, the firm's total revenue is equal to the total cost.
Cost of investment (fixed cost) = $200000
Variable cost = $500
Pirce of television antenna = $1000
At break-even, TR = TC
(P x Q) = (TFC + TVC)
1000Q = 200000 + 500Q
10000Q-500Q = 200000
500Q = 200000
Q = 200000 / 500
Q = 400 units
Thus break-even quantity is 400 units.
Companies in the same industry often select very different distribution networks, because the choice of the distribution network can be used to achieve a variety of supply chain objectives ranging from low cost to high responsiveness.
a. True
b. False
Answer:
T
Explanation:
Bono was kicked out of the band U2 for failing to attend rehearsals on time and constantly cutting the strings of Adam Clayton bass guitar. For the purposes of this question Bono was an employee of U2 which is an American company. Bono applies for unemployment insurance. Provided that he is actively attending auditions to display his willingness and ability to seek future employment he will receive state administered unemployment benefits.
A. True
B. False
Answer:
B
Explanation:
He was fired for constantly missing rehearsals which is a duty of his role as an employee of U2
He was fired for constantly missing rehearsals which is a duty of his role as an employee of U2. As the Bono is fired because of his continuous mistakes, and he is not liable to get the unemployment insurance.
What is unemployment insurance?Unemployment insurance benefits are offered by the U.S. Federal Government to enrollees who become jobless absolutely no fault of their own and fulfill some other rules.
Unemployment insurance is a state-federal program that pays financial compensation to workers who are unemployed.
Thus, option B is correct.
For more details about unemployment insurance, click here:
https://brainly.com/question/20397924
#SPJ2
Which statement is true of the relationship between risk and return?
O The grear the risk, the greater the potential return.
O The relationship between risk and return varies.
The greater the risk, the lower the potential return.
O The relationship depends on the individual investment.
Answer:
the relationship depends on the individual investment
Answer:
The relationship depends on the individual investment
how to calculate current ratios
Answer:
Current ratios = [tex]\frac{Current Assets}{Current Liabilities}[/tex]
radar plumbers do plumbing for household.Their service for the year bought in an income of R86000 .They paid out R36 200 for material ,R12400 for water and electricity,R3 800 for telephone and R18 900 for other expenses.. calculate whether the business make profit or loss
Answer:
the business is making a profit of R14700
Explanation:
A business earns a profit if total cost is less than revenue and a business earns a loss of total cost exceeds revenue
total cost = R36 200 + ,R12400 + ,R3 800 + R18 900 = 71,300
total revenue = R86000
revenue exceeds cost, so a profit is being made
profit = R86000 - 71,300 = R14,700
Prepare journal entries to record each of the following four separate issuances of stock.
a. A corporation issued 3,000 shares of $10 par value common stock for $36,000 cash.
b. A corporation issued 1,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $23,000. The stock has a $2 per share stated value.
c. A corporation issued 1,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $23,000. The stock has no stated value.
d. A corporation issued 750 shares of $75 par value preferred stock for $79,250 cash.
Answer:
Transaction a
Debit : Cash $36,000
Credit : Common Stock (3,000 x $10) $30,000
Credit : Common Stock - Paid in excess of par $6,000
Transaction b
Debit : Cash $23,000
Credit : Common Stock $23,000
Transaction c
Debit : Cash $23,000
Credit : Common Stock $23,000
Transaction d
Debit : Cash $79,250
Credit : Preferred Stock (750 x $75) $56,250
Credit : Preferred Stock - Paid in excess of par $23,000
Explanation:
The journal entries to record each of the following four separate issuances of stock have been prepared above.
Step 1 : Distinguish if Stock has par value or not
For par value stock, any amount paid in excess of par value is places in a reserve - Paid in Excess of Par on issuance.
For non par value stocks, we value stocks at market price of item exchanged
Step 2 : Recording
On Issuance, Cash is increasing so we debit Cash Account. The Stock Account as well as the Reserve - Paid in Excess (if applicable) both increases on the credit side, so that will be a Credit entry
Instead of investing a lump of sum of $25000,Brittany Royer decides to svae the money in a vault for 2years. Assuming the inflation being 2.5%per year,how much will her purchasing power decline in 2years
Answer:
$1265.63
Explanation:
Inflation is a persistent rise in the general price levels
Types of inflation
1. demand pull inflation – this occurs when demand exceeds supply. When demand exceeds supply, prices rise
2. cost push inflation – this occurs when the cost of production increases. This leads to a reduction in supply. Higher prices are the resultant effect
Loss in purchasing value = future value of the amount saved - amount saved
The formula for calculating future value:
FV = P (1 + r)^n
FV = Future value
P = Present value
R = interest rate
N = number of years
$25000 (1.025)² = $26.265.625
Amount lost = $26.265.625 - $25,000 = $1265.63
g Privett Company Accounts payable $33,411 Accounts receivable 66,433 Accrued liabilities 6,512 Cash 22,494 Intangible assets 37,191 Inventory 89,982 Long-term investments 110,819 Long-term liabilities 75,872 Marketable securities 34,976 Notes payable (short-term) 29,393 Property, plant, and equipment 671,232 Prepaid expenses 1,809 Based on the data for Privett Company, what is the quick ratio, rounded to one decimal point
Answer:
1.79
Explanation:
Quick ratio = (Current assets - Inventory - Prepaid expenses) / Current liabilities
Quick ratio = (Account Receivable + Cash + Marketable securities) / (Account Payable + Accrued liabilities + Notes payable)
Quick ratio = (66,433 + 22,494 + 34,976) / (33,411 + 6,512 + 29,393)
Quick ratio = $123,903 / $69,316
Quick ratio = 1.78751
Quick ratio = 1.79
Sam and Sally Green have a standard homeowners policy with no endorsements. The dwelling is insured for its full value. Indicate whether or not each of the following losses is covered and under what coverage. Specify why each loss is covered or not covered.
a. The Green's valuable dog is stolen from their back yard.
b. Sally takes off her wedding ring in a public restroom to wash her hands. She accidentally leaves the ring behind.
c. While the Green's are vacationing in Europe, their hotel room is robbed. The thief gets away with jewels and cash.
d. While practicing his chip shot in the yard, Sam accidentally sends a golf ball crashing through the dining room window.
Answer:
a. Not covered
b. Not covered
c. Covered
d. Covered
Explanation:
Sam and Sally have standard homeowner policy. There are no endorsements to the policy. The standard policy will cover the house damage due to accident or some other reasons unintentionally. When dog is stolen this is not covered in the policy as there is no endorsement for the dog security insurance in the policy. Sally has left her ring due to her carelessness and thus this is also not covered in the policy. When Sam accidentally breaks dining room window this will be covered in the basic policy.
Helppppppp pleaseeee
Answer:
B
Explanation:
I think but i may be wrong
You own a portfolio equally invested in a risk-free asset and two stocks. If one of the stocks has a beta of 1.27 and the total portfolio is equally as risky as the market, what must the beta be for the other stock in your portfolio
Answer:
the beta be for the other stock in your portfolio is 1.73
Explanation:
The computation of the beta be for the other stock in your portfolio is shown below:
Given that
risk free asset contains the beta of 0
And,
market beta = 1
Now
1 = 1 ÷ 3 × 0 + 1 ÷ 3 × 1.27 + 1 ÷ 3 × beta
The beta of other stock = 1.73
hence, the beta be for the other stock in your portfolio is 1.73
Here we assume that one-third should be invested in all 3 things each
The difference between new classical theory and new Keynesian theory is that Question 2 options: in new classical theory wages are assumed to be flexible, and in new Keynesian theory wages are assumed to be somewhat inflexible.
Group of answer choices.
A. in new classical theory wages are assumed to be flexible, and in new Keynesian theory wages are assumed to be somewhat inflexible.
B. in new classical theory wages are assumed to be somewhat inflexible, and in new Keynesian theory wages are assumed to be flexible.
C. adaptive expectations is the dominant expectations theory in new classical theory, and rational expectations is the dominant expectations theory in new Keynesian theory.
D. in new Keynesian theory the short-run aggregate supply curve is vertical, and in new classical theory the short-run aggregate supply curve is upward sloping.
Answer:
A. in new classical theory wages are assumed to be flexible, and in new Keynesian theory wages are assumed to be somewhat inflexible.
Explanation:
The new classical theory (neoclassical view) posits that long-term expansion of potential Gross Domestic Products (GDP) due to economic growth will determine the size of a country's economy but the economy cannot sustain production above its potential Gross Domestic Products (GDP) in the long run.
John Maynard Keynes was a British economist born on the 5th of June, 1883 in Cambridge, England. He was famous for his brilliant ideas on government economic policy and macroeconomics which is known as the Keynesian theory. He later died on the 23rd of April, 1946 in Sussex, England.
According to the new Keynesian theory, government spending or expenditures should be increased and taxes should be lowered when faced with a recession, in order to create employment and boost the buying power of consumers.
Hence, the difference between the new classical theory (neoclassical view) and new Keynesian theory is that, in new classical theory wages are assumed to be flexible by economists while in new Keynesian theory wages are assumed to be somewhat inflexible.
ways an entrepreneur can attain objectives of being self employed
Answer:
An entrepreneur can achieve his objectives of being self employed in the following ways.
1 Works Hard. ...
2 When he/she is Energetic. ...
3 Wants Financial Success. ...
4 Has Family Support:
5 Takes Risks: ...
6 Sacrifices Employment Benefits: ...
7 Has a Need to Achieve: ...
8 Has Business Experience:
Otto invests $ 600 in an account that pays 7.3 % interest compounded annually. How much is in Otto's account after 3 years
Answer:
$741.23
Explanation:
The formula for calculating future value:
FV = P (1 + r)^n
FV = Future value
P = Present value
R = interest rate
N = number of years
600(1.073)^3 = $741.23
Weighted Average Cost Flow Method Under Perpetual Inventory System The following units of a particular item were available for sale during the calendar year:
Jan. 1 Inventory 4,000 units at $40
Apr. 19 Sale 2,500 units
June 30 Purchase 4,500 units at $44
Sept. 2 Sale 5,000 units
Nov. 15 Purchase 2,000 units at $46
Required:
The firm uses the weighted average cost method with a perpetual inventory system. Determine the cost of goods sold for each sale and the inventory balance after each sale.
Answer:
Cost of goods sold:
Apr. 19 = $100,000
Sept. 2 = $215,000
Inventory Balance on:
Apr. 19 = $60,000
Sept. 2 = $43,000
Explanation:
a) Data and Calculations:
Date Description Units Unit Price Inventory Cost of Sales
Jan. 1 Inventory 4,000 $40 $160,000
Apr. 19 Sale 2,500 $40 $60,000 $100,000
June 30 Purchase 4,500 $44 $258,000 ($44 * 4,500 + $60,000)
Sept. 2 Sale 5,000 $43 $43,000 $215,000
Nov. 15 Purchase 2,000 $46 $135,000 ($46 * 2,000 + $43,000)
The Federal Arbitration Act (FAA) allows for arbitration clauses in employment contracts. False True
Answer:
True
Explanation:
It is TRUE that the Federal Arbitration Act (FAA) allows for arbitration clauses in employment contracts.
The above statement is echoed in the Epic Systems Corp. v. Lewis on May 21, 2018, where the Supreme Court gave its ruling that the FAA is totally enforceable in the individual arbitration agreements contracts.
Similarly, in the case of American Express Co. v. Italian Colors Restaurant, the court ruled that necessary arbitration clauses are legal.
Agee Technology, Inc., issued 9% bonds, dated January 1, with a face amount of $1,840 million on July 1, 2021, at a price of $1,810 million. For bonds of similar risk and maturity, the market yield is 10%. Interest is paid semi-annually on June 30 and December 31.
Prepare the journal entry to record interest at the effective interest rate at December 31. What would be the amount(s) related to the bonds that Agee would report in its statement of cash flows for the year ended December 31, 2018, if it uses the direct method?
Answer:
Part 1
Journal entry to record interest at the effective interest rate at December 31.
Debit : Interest expense $181.45
Credit : Bond Payable $181.45
Part 2
the amount(s) related to the bonds that would be recorded in statement of cash flows
Cash flow from Operating Activities - Interest expense $181.45
Cash flow from Financing Activities - Repayment of Bond $18.55
Explanation:
The bond amortization table is the only tool that can supply us with further information about the Bond Interest, Bond Capital Repayment and Balance after Installment.
We can simply construct an amortization by entering the following data in the financial calculator,
FV = $1,840 million
PV = - $1,810 million
PMT = ($1,810 million x 9%) ÷ 2 = $81.45
I/YR = 10 %
P/YR = 2
N = 3.14
then, SHIFT Amort gives,
Bond Amortization table (extract)
Date Principle Interest Balance
December 31, 2018 $18.55 $181.45 $1.828
A short-term financial decision based on an MNC management's expectation that the local foreign currency will appreciate may be
Answer:
increasing local accounts receivable and decreasing local accounts payable
Explanation:
In simple words, accounts receivables refers to the amount that the company will receive from its debtors and accounts payable is the amount that the company will pay to its creditors. Thus, if the local currency appreciates , the company will receive a higher amount but will be obligated to pay a lower amount.
