Answer:
$132,400
Explanation:
Based on the information given we were told that Sharp make use of job order costing as well as applies manufacturing overhead to jobs which are often based on the direct labor costs, which simply means the amount of direct materials that is been used for the year will be a debit amount of $132,400 in the work in process .
Therefore the amount of direct materials used for the year will be $132,400
you decided to get a summer job since you were 14 as a lifeguard. you have made 2000 each summer. you placed all your earning in your savings account each year. It's 5 years later and you want to determine how much interest you have made. use the calculator to determine this
Answer:
Determine of interest made by placing $2,000 earnings each summer in savings account each year:
Total Interest $1,265.95
at 4% interest per annum.
Explanation:
a) Data and Calculations:
1. Data:
Earnings each summer = $2,000
Period = 5 years
Interest Rate = 4%
2. Using online calculator:
V (Future Value) $11,265.95
PV (Present Value) $9,259.79
N (Number of Periods) 5.000
I/Y (Interest Rate) 4.000%
PMT (Periodic Payment) $2,000.00
Starting Investment $0.00
Total Principal $10,000.00
Total Interest $1,265.95
3. By placing all your earning in your savings account each year after 5 years, you will get an interest of $1,265.95 and a total future value of $11,265.95, having deposited $10,000 ($2,000 each for 5 years).
Which of the following is TRUE regarding a dead weight loss.
a) It refers to the loss producers incur when operating with excess capacity.
b) It is only a feature of perfectly competitive markets.
c) It only occurs when a product sells at below equilibrium price.
d) It never arises in markets where producers have market power.
Answer:
I'm pretty sure the answer is A
A disadvantage of bonds is: Group of answer choices Bonds require payment of periodic interest Bonds require payment of principal Bonds can decrease return on equity Bond payments can be burdensome when income and cash flow are low All of the above
Answer:
All of the above.
Explanation:
A bond can be defined as a debt or fixed investment security, in which a bondholder (investor or creditor) loans an amount of money to the bond issuer (government or corporations) for a specific period of time. The bond issuer are expected to return the principal (face value) at maturity with an agreed upon interest (coupon), which are paid at fixed intervals.
The disadvantages of bonds are listed below as;
1. Bonds require payment of periodic interest.
2. Bonds require payment of principal.
3. Bonds can decrease return on equity.
4. Bond payments can be burdensome when income and cash flow are low.
A share of stock is now selling for $120. It will pay a dividend of $10 per share at the end of the year. Its beta is 1. What must investors expect the stock to sell for at the end of the year? Assume the risk-free rate is 6% and the expected rate of return on the market is 18%. (Round your answer to 2 decimal places.)
Answer:
P1 = 131.6566627 rounded off to $131.66
Explanation:
To calculate the price of the stock at the end of the year or P1, we first need to determine the required rate of return on the stock and the growth rate in dividends.
The required rate of return can be found using the CAPM equation. The formula for required rate of return under CAPM is,
r = rRF + Beta * (rM - rRF)
Where,
rRF is the risk free rate rM is the return on market
r = 0.06 + 1 * (0.18 - 0.06)
r = 0.18 or 18%
Now we assume that the stock is a constant growth stock which means that the growth in dividends is expected to be constant throughout. The price of such a stock is found using the constant growth model of DDM. The formula for price today under the constant growth model is,
P0 = D1 / (r - g)
Where,
P0 is price today D1 is expected dividend for the next period g is the growth rate in dividends
Plugging in the available variables, g is,
120 = 10 / (0.18 - g)
120* (0.18 - g) = 10
21.6 - 120g = 10
g = (10 - 21.6) / -120
g = 0.096667 or 9.6667% rounded off to 9.67%
So to calculate the price at the end of the year or P1, we will use D2.
P1 = 10 * (1+0.0967) / (0.18 - 0.0967)
P1 = 131.6566627 rounded off to $131.66
At what phase should security planning begin in a conceptual and proposed "from the start" international acquisition program?
Answer:
Material Solution Analysis
Explanation:
This is a phase in which potential solutions are accessed and analyzed for an Initial Capabilities Document (ICD) and to meet the criteria for the next program of the MDA.
This planning stage of MSA is necessary to choose the best available technology that would meet the needs of a client.
Therefore, the phase that security planning begins in a conceptual and proposed "from the start" international acquisition program is Material Solution Analysis.
You just sold 500 shares of Wesley, Inc. stock at a price of $30.92 a share. Last year, you paid $32.04 a share to buy this stock. What is your capital gain on this investment
Answer:
-$560
Explanation:
The computation of capital gain on this investment is shown below:-
Capital gain = (Stock price - Paid shares) × Sold shares
where,
The Stock price is $30.92
Paid shares is $32.04
And, the sold shares is 500 shares
Now placing these values to the above formula
So, the capital gain on this investment is
= ($30.92 - $32.04) × 500
= -$1.12 × 500
= -$560
On January 1, 2021, Kendall Inc. began construction of an automated cattle feeder system. The system was finished and ready for use on September 30, 2022. Expenditures on the project were as follows:January 1, 2021 $290,000 September 1, 2021 $408,000 December 31, 2021 $408,000 March 31, 2022 $408,000 September 30, 2022 $290,000 Kendall borrowed $786,000 on a construction loan at 12% interest on January 1, 2021. This loan was outstanding throughout the construction period. The company had $4,680,000 in 9% bonds payable outstanding in 2021 and 2022.Interest capitalized for 2021 was:__________
Answer:
Interest capitalized for 2021 was $51,120.
Explanation:
To calculate this, we use the weighted-average method of calculating capitalized interest which is calculated as the multiplication of interest rate and the sum of the weight of each expenditure based on the number of months within a year. This can be stated mathematically as follows:
Therefore, the interest capitalized for 2021 can be calculated as follows:
Weighted expenditure from January 1, 2021 to December 31, 2021 = $290,000 * (12 months / 12 months) = $290,000.
Weighted expenditure from September 1, 2021 to December 31, 2021 =$408,000 * (4 months / 12 months) = $136,000.
Weighted expenditure from December 31, 2021 to December 31, 2021 = $408,000 * (0 months / 12 months) = $0.
Sum of weighted expenditure for for 2021 = $290,000 + $136,000 + $0 = $426,000
Interest capitalized for 2021 = Sum of weighted expenditure for for 2021 * Interest on construction loan = $426,000 * 12% = $51,120
Therefore, interest capitalized for 2021 was $51,120.
Knowledge Check 01 On December 31, 2019, Wintergreen, Inc., issued $150,000 of 7 percent, 10-year bonds at a discount of $10,125. The bonds pay interest semiannually. Wintergreen uses the straight-line bond amortization method. The entry to record each interest payment includes a debit to Bond Interest Expense for $5,756, a credit to Discount on Bonds Payable for $506, and a credit to Cash for $5,250. At December 31, 2020, the carrying value of the bonds will equal _____.
Answer:
Carrying value of bond = $140,887 .50
Explanation:
Balance in discount on bonds account as on Dec 31, 2019 = Total discount on bonds - amortized discount on 30 June, 2019 - discount amortized on Dec 31, 2019
= $10,125 - $506.25 -$506.25
= $9,112.50
Carrying value of the bond = Face value of bond - Balance in discount on bonds account.
= $150,000 - $9,112.50
= $140,887 .50
Note:
Amortization of discount on bonds = Total discount on bond / total number of interest payments
= $10125/(10×2)
= $10125/20
= $506.25
_____ media are specifically designed to help bring customers eyeball to eyeball with the product--often at the point of sale or close to it.
Answer:
This question is incomplete, the options are missing. The options are the following:
a) Exhibitive.
b) Transit.
c) Direct mail.
d) Outdoor.
e) Print.
And the correct answer is the option A: Exhibitive.
Explanation:
To begin with, the term known as "Exhibitive Media", in the field of marketing and business, refers to the strategy used by the companies whose approach is in the point of sale marketing. This type of strategy focus on exhibiting the product to the costumer the closer as possible so it will generate an impulse on the client of buying the product without having it thought before seeing the product. A very common example of this strategy is the situation in where the supermarkets fill their lines to the cashier with other retails that have product that are attractive at first sight.
Suppose you observe the following situation: Security Beta Expected Return A 1.16 .1137 B .92 .0984 Assume these securities are correctly priced. Based on the CAPM, what is the return on the market
Answer: 10.35%
Explanation:
The Capital Asset Pricing Model is used to calculate the expected return of a security with the expression
Expected return = Risk free rate + Beta ( Market return - risk free rate)
( Market return - risk free rate) is also known as the market premium and can be calculated by;
= [tex]\frac{Expected return on A - Expected return on B}{Beta for A - Beta for B}[/tex]
= [tex]\frac{0.1137 - 0.0934}{1.16 - 0.92}[/tex]
= 0.0153/0.24
= 6.375%
= 6.38%
Expected return A = Risk free rate + Beta A ( Market return - risk free rate)
0.1137 = Risk free rate + 1.16 (6.38%)
Risk free rate = 0.1137 - 1.16(6.38%)
Risk free rate = 3.97%
Market Expected return = Market Risk Premium + risk free rate
= 6.38% + 3.97%
= 10.35%
Investing activities on the statement of cash flows generate cash inflows and outflows related to borrowing from and repaying principal to creditors and completing transactions with the company’s owners such as selling or repurchasing shares of common stocks and paying dividends.
A. True
B. False
Answer: False
Explanation:
The cash flow from investing activities is a cash flow section that shows cash generated or the cash that is spent which relates to activities involving investment and this include buying physical assets, the investments in securities, or sale of assets or securities.
Therefore, the above analysis I the question is wrong.
(A) What price should the company charge for the phones, and how many phones should be produced to maximize the weekly revenue? What is the maximum weekly revenue?
Answer:
2500 phones produced at $250 per phone
Max weekly revenue would be $625,000.
Explanation:
p = 500 - 0.1x
p is the price per unit
revenue = quantity * price/unit
R(x) = revenue = p(x)*x = 500x - 0.1x²
p(x) maximum when first derivative is set to 0
500 - 0.2x = 0 ==> x = 500/0.2 = 2500 quantities
price/unit : p = 500 - 0.1*2500 = 500 - 250 = 250
revenue :
r(2500) = 500*2500 - 0.1*2500²
r(2500) = 2500(500 - 250) = 625000
The company should produce 2500 phones each week at a price of $250
The maximum weekly revenue is $625000
Assuming that the firm is maximizing profits, the marginal cost of the last unit produced equals:________
Price Quantity Total cost
10 10 80
9 20 100
8 30 130
7 40 170
6 50 230
5 60 300
4 70 380
a. $4
b. $40
c. $5
d. $50
e. $6
Answer: b. $40
Explanation:
A firm maximises its profits where Marginal Revenue equals marginal cost.
Marginal revenue is the additional revenue gained by selling one more unit of production.
At 40 units, the marginal revenue is equal to;
= Total revenue at 40 units - total revenue at 30 units
= ( 7 * 40) - ( 8 * 30)
= 280 - 240
= $40
At 40 units the marginal cost is;
= total cost at 40 units - total cost at 30 units
= 170 - 130
= $40
MR=MC which is $40.
The Clifford Corporation has announced a rights offer to raise $17 million for a new journal, the Journal of Financial Excess. This journal will review potential articles after the author pays a nonrefundable reviewing fee of $6,000 per page. The stock currently sells for $42 per share, and there are 2.9 million shares outstanding. a. What is the maximum possible subscription price? What is the minimum? (Leave no cells blank - be certain to enter "0" wherever required.) b. If the subscription price is set at $34 per share, how many shares must be sold? How many rights will it take to buy one share? (Do not round intermediate calculations. Round your rights needed answer to 2 decimal places, e.g., 32.16.) c. What is the ex-rights price? What is the value of a right? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) d. A shareholder with 2,000 shares before the offering has no desire (or money) to buy additional shares offered as rights. What is his portfolio value before and after the rights offer? (Do not round intermediate calculations and round your answers to nearest whole number, e.g., 32.)
Answer:
A.Maximum possible subscription price $42 per shares
Minimum price $0
B.Number of new shares $500,000
Numbers of right needed 5.8
C.Ex-rights price $40.82
Value of a right $1.18
D.Portfolio value before the right offer $84,000
Portfolio value after the right offer $84,000
Explanation:
A.
The maximum possible subscription price based on the information given will be $42 per Shares
The minimum price will be anything that is greater or higher that $0
B. Calculation for how many shares must be sold
Using this formula
Number of new shares =Journal of Financial Excess amount /Subscription price per share
Let plug in the formula
Number of new shares=$17,000,000/ $34 per share
Number of new shares=$500,000
Calculation for how many rights will it take to buy one share
Using this formula
Numbers of right needed=Shares Outstanding/Number of new Shares
Let plug in the formula
Numbers of right needed=$2,900,000/$500,000
Numbers of right needed=5.8
C. Calculation for the ex-rights price
Using this formula
Ex-rights price=(Numbers of right needed*Maximum possible subscription price +Subscription price per share)/(Numbers of right needed+ One shares)
Let plug in the formula
Ex-rights price=(5.8*$42+$34)/(5.8+1)
Ex-rights price=$277.6/6.8
Ex-rights price=$40.82
Calculation for the value of a right
Using this formula
Value of a right =maximum possible subscription price-Ex-rights price
Let plug in the formula
Value of a right=$42-$40.82
Value of a right=$1.18
D. Calculation for What is his portfolio value before the right offer
Using this formula
Portfolio value before the right offer= Shareholders Shares *Maximum possible subscription price
Let plug in the formula
Portfolio value before the right offer=2,000*42
Portfolio value before the right offer=$84,000
Calculation for What is his portfolio value after the right offer
Using this formula
Portfolio value after the right offer=(Shareholders Shares*Ex-rights price) +(Shareholders Shares*Value of a right)
Let plug in the formula
Portfolio value after the right offer=(2,000*40.82)+(2,000*1.18)
Portfolio value after the right offer=$81,640+$2,360
Portfolio value after the right offer=$84,000
Which of the following is true regarding the trial balance? Select all that apply. The trial balance includes all of the accounts needed to create the balance sheet and the income statement.
Complete Question:
Which of the following is true regarding the trial balance? Select all that apply.
a) The trial balance includes all of the accounts needed to create the balance sheet and the income statement.
b) The trial balance is much less detailed than the balance sheet and income statement.
c) The accounting principle of materiality says that the information on the trial balance can be combined and simplified into more general reporting items.
d) The accounting principle of money measurement says that the information on the trial balance can be combined and simplified into more general reporting items.
e) The trial balance shows only nominal accounts.
Answer:
a) The trial balance includes all of the accounts needed to create the balance sheet and the income statement.
Explanation:
Company XYZ's trial balance summarizes all the general ledger account balances with the assets and expenses on the debit side and the liabilities, equity, and income on the credit side. It is extracted from the general ledger for all accounts that do not have equal debit and credit sides. It is one of the ways to ensure that proper double entry system of bookkeeping has been followed. That the two sides are in balance does not mean that the trial balance or the general ledger from which it is prepared is error-free. It simply means that the two sides agree in total. XYZ can prepare the trial balance at any time, not necessarily at the end of the period.
February 1, 2018, Salisbury Company purchased land for the future factory location at a cost of $112,000. The dilapidated building that was on the property was demolished so that construction could begin on the new factory building. The new factory was completed on November 1, 2018. Costs incurred during this period were: Item Amount Demolition dilapidated building $2,000 Architect Fees $11,250 Legal Fees - for title search $1,450 Interest During Active Construction Period $5,025 Real estate transfer tax $975 Construction Costs $605,000 Using this information, how much should be recorded as the cost of the land?
Answer:
The cost of the land should be recorded as $108,350
Explanation:
Land cost = $112,000
Demolition dilapidated building = $2,200
Legal fees - title search = $1,450
Cost of land = Land cost - Demolition dilapidated building - Legal fees - title search
Cost of land = $112,000 - $2,200 - $1,450
Cost of land = $108,350
Online content created by an individual outside of a professional or commercial organization is a criterion of
Answer:
This question is incomplete, the options are missing. The options are the following:
a) Online advertisements
b) User Generated Content (UGC)
c) Blogs
d) Wikis
And the correct answer is the option B: User Generated Content (UGC).
Explanation:
To begin with, the name of "User Generated Content" or UGC refers specifically to the content that is generated by an user who uploaded online on the social medias or web sites with the purpose of creating a content that mainly may promote a product from a firm. In addition to that, the firms are the ones who stimulate this type of content due to the fact that tends to be very cheap for them and sometimes may reach a large audience as the same time that increase the credibility of the products to the fact that the consumers themselfs are the ones who promote the product.
MAD’s target capital structure is 60 percent debt and 40 percent equity. The yield to maturity on the company’s new debt will be 10 percent. MAD’s beta is 1.7, the risk free rate is 4% and the required market return is 12%. If the company’s tax rate is 30 percent, then which of the projects will be accepted?
Answer: D) Projects A and C
Explanation:
The projects to be taken should have a higher IRR than the company's Weighted Average Cost of Capital.
Cost of Equity
= Risk free rate + beta( market return - risk free rate)
= 4% + 1.7 (12% - 4%)
= 17.6%
After tax cost of debt
= Yield ( 1 - tax rate)
= 10% * ( 1 - 30%)
= 7%
WACC = (Weight of debt * after tax cost of debt) + (weight of equity * cost of equity)
= (0.6 * 7% ) + ( 0.4 * 17.6%)
= 4.2% + 7.04%
= 11.24%
Projects A and C both have IRR higher than the company's WACC and so should be accepted.
Shaw and Maya agree to a total contract price of $920,000. How much of the contract price should Maya allocate to the machine, installation, and training, respectively?
Answer: $736,000; $92,000; $92,000
Explanation:
The amount allocated will be proportional based on the cost of each when in a separate contracts.
Total when in separate contracts = 800,000 + 100,000 + 100,000
= $1,000,000
Proportion of Machine = 800,000/1,000,000
= 8/10
Proportion of Installation = 100,000/1,000,000
= 1/10
Proportion of Training = 100,000/1,000,000
= 1/10
Cost to allocate to Machine
= 8/10 * 920,000
= $736,000
Cost to allocate to Installation
= 1/10 * 920,000
= $92,000
Cost to allocate to Training
= 1/10 * 920,000
= $92,000
Answer: $736,000; $92,000; $92,000
Consider the relative liquidity of the following assets:
Assets
1. The funds in a money market account
2. A $5 bill
3. A share in a publicly traded company
4. Your house
Select the assets in order of their liquidity, from most liquid to least liquid.
Most Liquid
Second-Most Liquid
Third-Most Liquid
Least Liquid
Answer:
Liquidity of an asset refers to how easily convertible the asset is to cash or so called liquid money.
Most Liquid - A $5 bill
This is already cash so it is the most liquid there is.
Second-Most Liquid - The funds in a money market account
Funds in a money market account are the second most liquid because most often they can simply be withdrawn from the fund. There might be limits on the number of withdrawals allowed though within a period.
Third-Most Liquid - A share in a publicly traded company
A share in a publicly trade company ranks here because to realize the cash, one would need to sell the share first.
Least Liquid - Your house
Your house will be the most difficult of these to liquidate as it will involve a much longer process to eventually get it sold and realize cash. The process will include but will not be limited to, advertising, hiring realtors, inspection etc.
TB MC Qu. 8-187 The Charade Corporation is preparing its ... The Charade Corporation is preparing its Manufacturing Overhead budget for the fourth quarter of the year. The budgeted variable manufacturing overhead is $5 per direct labor-hour; the budgeted fixed manufacturing overhead is $95,000 per month, of which $17,000 is factory depreciation. If the budgeted direct labor time for November is 9,000 hours, then the total budgeted manufacturing overhead for November is:
Answer:
Allocated MOH= 140,000
Explanation:
Giving the following information:
The budgeted variable manufacturing overhead is $5 per direct labor-hour
The budgeted fixed manufacturing overhead is $95,000 per mont
The budgeted direct labor time for November is 9,000 hours
To allocate overhead, we need to use the following formula:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= (5*9,000) + 95,000
Allocated MOH= 140,000
Lense Laboratories' net income was $260,000. Given the account information below, what is the net cash flows from operating activities for Lense Laboratories?
Answer:
The question is incomplete, below is the completed question:
Lense Laboratories' net income was $250,000. Given the account information below, what is the net operating cash flows for Lense Laboratories?
Increase In Accounts Receivable...$60,000
Increase In Salaries Payable...$50,000
Decrease In Inventory...$30,000
Depreciation Expense...$45,000
Increase In Prepaid Insurance...$3,000
a. $152,000.
b. $278,000.
c. $312,000.
d. $438,000.
The correct answer is:
$312,000 (c.)
Explanation:
operating cash flow is the number of cash generated by a business' regular operating activities within a specific time period.
The formula for net operating cash flow is as follows:
Operating cash flow = Net income + Non-cash expenses - increase in working capital
Net income = $250,000
Non-cash expenses = increase in salary payable + decrease in inventory + depreciation in expenses
Non-cash expenses = 50,000 + 30,000 + 45,000 = $125,000
increase in working capital = increase in accounts receivable + increase in prepaid insurance
increase in working capital = 60,000 + 3,000
increase in working capital = $63,000
∴ Operating cash flow = 250,000 + 125,000 - 63,000 = $312,000
Cash flow from activities = $312,000
The price of oil in the United States has been very volatile over the last 50 years, with the real price of oil showing a few dramatic swings. When did these swings occur, and what can explain them? The first dramatic swing happened in the 1970s when there was a sharp ▼ drop rise in the real price of oil caused by ▼ a large financial crisis the formation of OPEC increased demand from emerging economies . The second swing happened in the 2000s when there was a sharp ▼ rise drop in the real price of oil caused by ▼ increased demand from emerging economies a large financial crisis the formation of OPEC . The most recent swing happened in 2008 when there was a sharp ▼ rise drop in the real price of oil caused by
Answer:
The first dramatic swing happened in the 1970s when there was a sharp rise in the real price of oil caused by the formation of OPEC.
In 1973, the World saw it's first oil spike when members of the Organization of Oil Exporting Countries (OPEC) being mostly Muslims, decided to punish the Western World for their perceived support of the Israelis in the Yom Kippur War. They placed an embargo on the sale of oil to the West and because they controlled 56% of the then World supply, this was enough to force the price of oil up due to the reduction in demand.
The second swing happened in the 2000s when there was a sharp rise in the real price of oil caused by increased demand from emerging economies.
From the early 2000s to 2008, the price of oil kept rising steadily till it reached around $147.30 in July 2008. This rise in prices was due to increased demand from newly industrialized and emerging nations like China that needed the oil to maintain their rapid growth.
The most recent swing happened in 2008 when there was a sharp drop in the real price of oil caused by a large financial crisis.
By December 2008, the price of oil had fallen to $32 and this was down to the global recession that was ravaging the World known as the Great Recession. As the world saw economic output fall, demand for oil decreased sharply thereby forcing the price of oil to fall dramatically.
July 1 Purchased merchandise from Boden Company for $6,300 under credit terms of 2/15, n/30, FOB shipping point, invoice dated July 1.
2 Sold merchandise to Creek Co. for $1,000 under credit terms of 2/10, n/60, FOB shipping point, invoice dated July 2. The merchandise had cost S567.
3 Paid $115 cash for freight charges on the purchase of July 1.
8 Sold merchandise that had cost $2, 100 for $2, 500 cash.
9 Purchased merchandise from Light Co. for $2, 700 under credit terms of 2/15, n/60, FOB destination, invoice dated July 9.
11 Received a $700 credit memorandum from Light Co. for the return of part of the merchandise purchased on July 9.
12 Received the balance due from Creek Co. for the invoice dated July 2, net of the discount.
16 Paid the balance due to Boden Company within the discount period.
19 Sold merchandise that cost $1,000 to Art Co. for $1, 500 under credit terms of 2/15, n/60, FOB shipping point, invoice dated July 19.
21 Issued a $250 credit memorandum to Art Co. for an allowance on goods sold on July 19.
24 Paid Leight Co. the balance due after deducting the discount.
30 Received the balance due from Art Co. for the invoice dated July 19, net of discount.
31 Sold merchandise that cost $5, 600 to Creek Co. for $7, 500 under credit terms of 2/10, n/60, FOB shipping point, invoice dated July 31.
Required:
Prepare journal entries to record the above merchandising transactions of Blink Company, which applies the perpetual inventory system.
Answer:
July 1 Purchased merchandise from Boden Company for $6,300 under credit terms of 2/15, n/30, FOB shipping point, invoice dated July 1.
Dr Merchandise inventory 6,300
Cr Accounts payable 6,300
July 2 Sold merchandise to Creek Co. for $1,000 under credit terms of 2/10, n/60, FOB shipping point, invoice dated July 2. The merchandise had cost S567.
Dr Accounts receivable 1,000
Cr Sales revenue 1,000
Dr Cost of goods sold 567
Cr Merchandise inventory 567
July 3 Paid $115 cash for freight charges on the purchase of July 1.
Dr Merchandise inventory 115
Cr Cash 115
July 8 Sold merchandise that had cost $2, 100 for $2, 500 cash.
Dr Cash 2,500
Cr Sales revenue 2,500
Dr Cost of goods sold 2,100
Cr Merchandise inventory 2,100
July 9 Purchased merchandise from Light Co. for $2, 700 under credit terms of 2/15, n/60, FOB destination, invoice dated July 9.
Dr Merchandise inventory 2,700
Cr Accounts payable 2,700
July 11 Received a $700 credit memorandum from Light Co. for the return of part of the merchandise purchased on July 9.
Dr Accounts payable 700
Cr Merchandise inventory 700
July 12 Received the balance due from Creek Co. for the invoice dated July 2, net of the discount.
Dr Cash 980
Dr Sales discounts 20
Cr Accounts receivable 1,000
July 16 Paid the balance due to Boden Company within the discount period.
Dr Accounts payable 6,300
Cr Cash 6,174
Cr Purchase discounts 126
July 19 Sold merchandise that cost $1,000 to Art Co. for $1, 500 under credit terms of 2/15, n/60, FOB shipping point, invoice dated July 19.
Dr Accounts receivable 1,500
Cr Sales revenue 1,500
Dr Cost of goods sold 1,000
Cr Merchandise inventory 1,000
July 21 Issued a $250 credit memorandum to Art Co. for an allowance on goods sold on July 19.
Dr Sales returns and allowances 250
Cr Accounts receivable 250
July 24 Paid Leight Co. the balance due after deducting the discount.
Dr Accounts payable 2,000
Cr Cash 1,960
Cr Purchase discounts 40
July 30 Received the balance due from Art Co. for the invoice dated July 19, net of discount.
Dr Cash 1,225
Dr Sales discounts 25
Cr Accounts receivable 1,250
July 31 Sold merchandise that cost $5, 600 to Creek Co. for $7, 500 under credit terms of 2/10, n/60, FOB shipping point, invoice dated July 31.
Dr Accounts receivable 7,500
Cr Sales revenue 7,500
Dr Cost of goods sold 5,600
Cr Merchandise inventory 5,6000
Which of the following statements regarding fiscal policy are true according to the macroeconomic consensus in the United States?
a. Congress, not the Federal Reserve, should be in charge of monetary policy.
b. Expansionary monetary policies should be used to keep unemployment below its natural rate.
c. Monetary policy should focus on price stability.
Answer: Monetary policy should focus on price stability.
Explanation:
The statements regarding fiscal policy that is true according to the macroeconomic consensus in the United States is that monetary policy should focus on price stability.
The statements that Congress, not the Federal Reserve, should be in charge of monetary policy and that Expansionary monetary policies should be used to keep unemployment below its natural rate are both wrong.
Martin Shkreli, former CEO of pharmaceutical company Retrophin,, has many traits of a leader. He is very intelligent, brash, extroverted, and driven to succeed. But he lacks the key trait to keep the confidence of others, which eventually led to a fraud conviction. He lacks
Answer:
Integrity.
Explanation:
In this scenario, Martin Shkreli, former CEO of pharmaceutical company Retrophin, has many traits of a leader. He is very intelligent, brash, extroverted, and driven to succeed. But he lacks the key trait to keep the confidence of others, which eventually led to a fraud conviction. Hence, he lacks integrity.
Integrity can be defined as an attribute which involves being honest, sincere, upright, adherence to strong moral and ethical principles or morally based values.
In this context, Martin Shkreli was eventually convicted for fraud because he lacked the quality of being trustworthy, truthful, honest and keeping the confidence of others.
Because of higher gasoline prices, firms using gasoline intensively in the production or distribution of their goods have experienced:_______.
Answer:
An upward shift in their MC, AVC, and ATC curves.
Explanation:
g how much money should be deposited today in account that earns 5% compounded interest quarterly so that it will accumulate to 7600 in 9 years
Answer:
Present value of 7600 in 9 years at 5% compounded quarterly = 4,859.51
Explanation:
You will need to invest $4,859.51 at the beginning to reach the future value of $7,600.00 in 9 years at 5% compounded quarterly.
Using an online financial calculator:
FV (Future Value) = $7,600
PV (Present Value) = $4,859.51
N (Number of Periods) = 36 quarters (9 x 4)
I/Y (Interest Rate) = 1.250% (5%/4)
PMT (Periodic Payment) = $0.00
Starting Investment = $4,859.51
Total Principal = $4,859.51
Total Interest = $2,740.49
The compound interest rate is divided into the number of quarters, which is 4 and the number of periods will become 9 x 4 = 36. Then the present value of $7,600 is determined using the PV table or an online calculator, as above.
Group-oriented negotiators are concerned about their own interests above all else. Is this statement true or false?
Answer: False
Explanation:
Negotiation is a dialogue taht takes place between two to more individuals so that a common stand can be reached on a subject.
Group-oriented negotiators are concerned about the interest of their teams or groups and not their own interests. Therefore, the above question is wrong.
When Marine Midland Bank sent market researchers with surveys door-to-door in the neighborhoods of their branch banks to ask people with savings accounts why they did not also have checking accounts and credit cards with Marine Midland, they were gathering __________ data.
Answer:
questionnaire
Explanation:
In the scenario being described, the researchers were gathering questionnaire data. A questionnaire is a research instrument that consists of a set of questions that are asked to the individual with hopes of collecting that respondent's information regarding the subject. Which in this scenario, the subject in question is why the individual does not have checking accounts and credit cards with the company. These answers are usually used by the company in order to better their services and provide a better customer experience.
