The Medicare Supplement Right of Return Provision (Free Look Period) allows the buyer a period of ________ to return a policy and receive a full refund.

Answers

Answer 1

Answer:

30 days

Explanation:

This right of return provision allows the buyer a period of 30 days. This period is referred to as the free look period. It is a must that these Medicare supplement policies have notices that that are boldly written on the number one page of the policy that states that the policy holder have the right to return the policy during a period of 30 days from when it was delivered and for the person to receive full refund.


Related Questions

2. Which of the following is not an accurate statement as concerns competing in the markets of foreign countries? A. A multi-country strategy is generally superior to a global strategy. B. There are country-to-country differences in consumer buying habits and buyer tastes and preferences. C. A company must contend with fluctuating exchange rates and country-tocountry variations in host government restrictions and requirements. D. Product designs suitable for one country are often inappropriate in another. E. Market growth rates vary from country to country.

Answers

Answer:

A. A multi-country strategy is generally superior to a global strategy.

Explanation:

Foreign countries are the countries that are established in a foreign. Each and every foreign country has different consumer preference, buying power, taste and preferences.

Also there are no fixed exchanged rates plus the designs of the product are not fixed for another country as it depends on the customer demand which type of product they needed. Moreover, the growth rate is also different in different countries

Hence, option A is correct

ABC Corporation has the following information: Total market value of a company’s stock: $650 million Total market value of the company’s debt: $150 million Cost of Equity: 10% Cost of Debt: 8% Corporate tax rate is 35 percent What is the WACC of ABC Corporation?

Answers

Answer:

WACC of ABC Corporation is 91%

Explanation:

WACC = Kd * (1+T) * Debt/Debt+Equity + Ke * Debt/Equity

Kd = Cost of debt

T = Corporate tax rate

WACC = 0.08*(1-0.35)*(150m/150m+650m) + 0.10*(650m/150m+650m)

WACC = 0.08 *0.65*0.1875 + 0.10*0.8125

WACC = 0.00975 + 0.08125

WACC = 0.091

WACC = 91%

Therefore, the WACC of ABC Corporation is 91%

Carr Company is considering two capital investment proposals. Estimates regarding each project are provided below: Project Soup Project Nuts Initial investment $400,000 $600,000 Annual net income 30,000 46,000 Net annual cash inflow 110,000 146,000 Estimated useful life 5 years 6 years Salvage value -0- -0- The company requires a 10% rate of return on all new investments. Present Value of an Annuity of 1 Periods 9% 10% 11% 12% 5 3.890 3.791 3.696 3.605 6 4.486 4.355 4.231 4.111 "The net present value for Project Nuts" is Group of answer choices

Answers

Answer:

NPV = $35,868.06

Explanation:

Net present value is the present value of after tax cash flows from an investment less the amount invested.  

NPV for Project Nuts

NPV can be calculated using a financial calculator  

Cash flow in year 0 = $-600,000

Cash flow each year from year 1 to 6 = 146,000

I = 10%

NPV = $35,868.06

To find the NPV using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.  

3. Press compute  

The Sisyphean Company has a bond outstanding with a face value of $1,000 that reaches maturity in 8 years. The bond certificate indicates that the stated coupon rate for this bond is 8​% and that the coupon payments are to be made semiannually. Assuming the appropriate YTM on the Sisyphean bond is 9.6​%, then this bond will trade at

Answers

Answer:

this bond will trade at $912.05.

Explanation:

There is an Inverse relationship between the yield and the price of bond.

As the yield goes up, the price of bond goes down, that is trade at discount.Whereas, as the yield goes down, the price of bond goes up, that is trade at a premium.

The Bond investment in Sisyphean Company is trading at a discount.

The Price of the Bond, PV can be determined as follows..

PV = ?

FV = $1,000

PMT = ($1,000 × 8​%) ÷ 2 = $40

P/yr = 2

YTM = 9.6​%

n = 8 × 2 = 16

Using a Financial Calculator, the Price of the Bond, PV  is $912.05.

Hsung Company accumulates the following data concerning a proposed capital investment: cash cost $175, 846, net annual cash flows $37, 300, and present value factor of cash inflows for 10 years 5.02 (rounded). (If the net present value is negative, use either a negative sign preceding the number eg -45 or parentheses eg (45).)
Determine the net present value, and indicate whether the investment should be made?

Answers

Answer:

NPV = $11400

As the NPV from the project is positive, the investment should be made.

Explanation:

The NPV or net present value is an important metric that is used for project and investment evaluation. The NPV is the present value of the series of cash flows provided by the project less the initial cost incurred to undertake the project. NPV can be calculated as follows,

NPV = (Annual Cash Flow * Present value factor) - Initial cost

NPV = (37300 * 5.02)  -  175846

NPV = $11400

As the NPV from the project is positive, the investment should be made.

A small firm intends to increase the capacity of a bottleneck operation by adding a new machine. Two alternatives, A and B, have been identified, and the associated costs and revenues have been estimated. Annual fixed costs would be $38,000 for A and $31,000 for B; variable costs per unit would be $7 for A and $11 for B; and revenue per unit would be $19.
a. Determine each alternative’s break-even point in units. (Round your answer to the nearest whole amount.)
QBEP,A units
QBEP,B units
b. At what volume of output would the two alternatives yield the same profit? (Round your answer to the nearest whole amount.)
c. If expected annual demand is 10,000 units, which alternative would yield the higher profit?

Answers

Answer:

Instructions are below.

Explanation:

Giving the following information:

Machine A:

Fixed costs= $38,000

Unitary cost= $7

Machine B:

Fixed costs= $31,000

Unitary cost= $11

Revenue per unit= $19

To calculate the break-even point in units, we need to use the  following formula:

Break-even point in units= fixed costs/ contribution margin per unit

Machine A:

Break-even point in units= 38,000 / (19 - 7)

Break-even point in units= 3,167

Machine B:

Break-even point in units= 31,000 / (19 - 11)

Break-even point in units= 3,875

Now, we need to determine the indifference point:

Machine A= 38,000 + 7x

Machine B= 31,000 + 11x

x= number of units

We will equal both formulas and isolate x:

38,000 + 7x = 31,000 + 11x

7,000 = 4x

1,750=x

Indifference point= 1,750 units

Finally, the total cost for 10,000 units:

Machine A= 38,000 + 7*10,000= $108,000

Machine B= 31,000 + 11*10,000= $141,000

Cantor Corporation acquired a manufacturing facility on four acres of land for a lump-sum price of $9,000,000. The building included used but functional equipment. According to independent appraisals, the fair values were $4,500,000, $3,000,000, and $2,500,000 for the building, land, and equipment, respectively. The initial values of the building, land, and equipment would be:

Answers

Answer:

Initial value of building = $4,050,000

Initial value of land = $2,700,000

Initial value of equipment = $2,250,000

Explanation:

The fair value of an asset refers to a unbiased estimate of the likely market price of the asset.

The initial value of a fixed asset refers to the amount of money that spent to acquire or create the asset.

The initial value of each asset from a group of asset can be calculated using the following formula:

Initial value of an asset = Lump-sum price * (FVA / TFV) ............ (1)

Where, from the questio;

Lump-sum price = $9,000,000

FVA = Fair value of a particular asset. From the question, we have:

Building fair value = $4,500,000

Land fair value = $3,000,000

Land fair value  = $2,500,000

TFV =Total fair value = Building fair value + Land fair value + Land fair value = $4,500,000 + $3,000,000 + $2,500,000 = $10,000,000

Substituting the values into equation (1), we can determine the initial value of each asset as follows:

Initial value of building = $9,000,000 * ($4,500,000 / $10,000,000) = $9,000,000 * 0.45 = $4,050,000

Initial value of land = $9,000,000 * ($3,000,000 / $10,000,000) = $9,000,000 * 0.30 = $2,700,000

Initial value of equipment = $9,000,000 * ($2,500,000 / $10,000,000) = $9,000,000 * 0.25 = $2,250,000

A year ago, you purchased 300 shares of Stellar Wood Products, Inc. stock at a price of $8.62 per share. The stock pays an annual dividend of $0.10 per share. Today, you sold all of your shares for $4.80 per share. What is your total dollar return on this investment

Answers

Answer:

Total Dollar Return -$1,116

Explanation:

Calculation for the total dollar return on this investment

First step is to find the Total Selling Price using this formula

Total Selling Price= Shares purchased *Price per share sold

Let plug in the

Total Selling Price= 300*4.80

Total Selling Price= $1,440

The next step is to calculate for the total dollar return the investment using this formula

Total Dollar Return = Selling Price +Annual Dividend - Purchase Price

Let plug in the formula

Total Dollar Return = $1,440 + (300 shares ×$0.10 per share) - (300 shares *$8.62 per share)

Total Dollar Return=$1,440+$30-$2,586

Total Dollar Return = -$1,116

Therefore the total dollar return on this investment will be -$1,116

One of the world's most-recognizable franchisers is McDonald's. Advantages of franchising in global markets include:

Answers

Answer: d. forgoing the development costs and risks associated with opening up a foreign market.

Explanation:

Franchising is a way of expanding a business by allowing another company to sell the products of the expanding company and pay them for it.

It works by the Expanding company (franchisor) providing their skills, technical know-how and allowing the franchisee to use their image rights to sell products.

This is a cheap way of expanding in foreign markets because the franchisor does not have to spend money starting up in that country and developing a business from scratch. It can simply license another company that is already there to sell for it thereby avoiding risks of setting up anew in a foreign market.

Consumer concern with the standards and believability of advertising may have spread around the world more swiftly than have many marketing techniques due to

Answers

Answer:

False advertising

Explanation:

False advertising refers to that advertising in which the misleading information is passed to the final consumers so that the company could earn more and more profits as there is one motive i.e. to increase sales as much the company wants

Therefore according to the given situation, the advertising spread around the world quickly due to the false advertising.

A short margin account with the only position being 100 shares of ABC stock, shows the following:

Credit Balance: $18,000
Short Mkt Value: $12,000
Equity: $6,000

If ABC pays a dividend of $2.00 per share, the result will be an adjusted:__________

Answers

Answer:

1.1'00

Explanation:

If, because of an externality, the economically efficient output is Q2 and not the current equilibrium output of Q1, what does D1 represent?

Answers

Answer:

Hello attached below is the complete question

D1 represents the demand curve reflecting private benefits  ( c )

Explanation:

The effects of an externality is positive( shift of the demand curve to the right ) when  the production of goods and service has a positive effect on the consumers ( people that are not involved in the production process ). this positive effect will lead to an increase in quantity demanded as well from consumers.

The curve ( D1 ) does not represent the social benefits for the consumers but represents the demand curve reflecting private benefits,

Digby's turnover rate for this year is 6.33%. This rate is projected to remain the same next year and no further downsizing will occur from automating. What would the total recruiting cost be for Digby, assuming it spends the same amount extra above the $1,000 recruiting base as they did this year?

Answers

Answer:

Total recruitment cost = $316.5

Explanation:

Note:

Given question is incomplete,

The number of employees = 5,000

Given:

Turnover rate for this year = 6.33%

Find:

Total recruitment cost

Computation:

Total recruitment cost = Turnover rate for this year × The number of employees

Total recruitment cost = 5,000 × 6.33%

Total recruitment cost = $316.5

The total recruiting cost will be $316.5 for Digby.

Given information

Assumed the number of employees is 5,000

Turnover rate for this year = 6.33%

Total recruitment cost = Turnover rate for this year * The number of employees

Total recruitment cost = 5,000 *  6.33%

Total recruitment cost = $316.5

Therefore, the total recruiting cost will be $316.5 for Digby.

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Seadrill Engineering licenses software to oil-drilling firms for 5 years. In addition to providing the software, the company also provides after sales consulting services and support to ensure smooth operation of the software over the license period of 5 years. The total transaction price is $420,000. Based on standalone values, the company estimates the consulting services and support have a value of $120,000 and the software license has a value of $300,000. Assuming the performance obligations are not interdependent, the journal entry to record the transaction on the date software is sold includes

Answers

Answer:

Dr Cash 420,000

    Cr Sales Revenue (software) 300,000

    Cr Unearned Service Revenue 120,000

Explanation:

software license $300,000

consulting services and support $120,000

total transaction cost $420,000

The recorded transaction should be:

Dr Cash 420,000

    Cr Sales Revenue (software) 300,000

    Cr Unearned Service Revenue 120,000

Cash account should be debited, since it's an asset. Sales revenue should be credited since it increases equity. Unearned revenue is a type of liability, so it should be credited.

A market situation in which a large number of firms produce similar but not identical products is called

Answers

Answer:

A market situation in which a large number of firms produce similar but not identical products is called perfectly competitive.

Explanation:

The statement "Automobiles manufactured by this brand are the safest" is an example of the _____ component of attitude.

Answers

Answer:

cognitions

Explanation:

The cognitions component of attitude refers to the opinion a person has about an object. According to this, the answer is that the statement "Automobiles manufactured by this brand are the safest" is an example of the cognitions component of attitude as the sentence shows the belief the person has about that brand.

On the first day of the fiscal year, a company issues a $8,800,000, 7%, 10-year bond that pays semiannual interest of $308,000 ($8,800,000 × 7% × ½), receiving cash of $7,655,303. Required:Journalize the first interest payment and the amortization of the related bond discount.

Answers

Answer and Explanation:

The journal entry is shown below:

Interest expense $403,391

       To Cash $308,000

       To Discount on note payable $95,391

{($8,800,000 - $7,655,303) ÷ 12}

Here we debited the interest expense as it increased the expenses and credited the cash as it decreased the assets and credited the discount on note payable  

TB MC Qu. 6-107 Mcmurtry Corporation sells a product for ... Mcmurtry Corporation sells a product for $250 per unit. The product's current sales are 13,600 units and its break-even sales are 10,608 units. The margin of safety as a percentage of sales is closest to:

Answers

Answer:

The answer is 22%

Explanation:

Margin of Safety equals:

(Current sales level - break-even point) ÷ Current sales level

Break-even sales = $2,652,000 (10,608 units x $250 per unit)

Current sales = $3,400,000 (13,600 units x $250 per unit)

Therefore, Margin of Safety is:

($3,400,000 - $2,652,000) ÷ $3,400,000

= 0.22

Expressed as a percentage = 22%

The transportation model, when applied to location analysis: maximizes revenues. minimizes total fixed costs. minimizes total production and transportation costs. minimizes total transportation costs. minimizes the movement of goods.

Answers

Answer:

Correct Answer:

4. minimizes total transportation costs.

Explanation:

When a good transportation method is applied, it helps in minimizing the transportation cost involved in moving goods and services from one location to another. For example, it cost 2 million dollars to transport a particular product. With good transportation model, it would definitely be cheaper.

When preparing government-wide financial statements,the modified accrual basis governmental funds are adjusted for all of the following events except?
A) Change in current assets and current liabilities from year to year
B) Long-term debt related events
C) Internal service fund activities
D) Interfund activities

Answers

Answer: Change in current assets and current liabilities from year to year

Explanation:

It should be noted that when preparing government-wide financial statements, the modified accrual basis governmental funds are adjusted for the long-term debt related events, the internal service fund activities and the interfund activities.

Therefore the correct option is A as th modified accrual basis government funds are not adjusted for the change in current assets and current liabilities from year to year.

Sloan Corporation is considering new equipment. The equipment can be purchased from an overseas supplier for $3,040. The freight and installation costs for the equipment are $610. If purchased, annual repairs and maintenance are estimated to be $420 per year over the four-year useful life of the equipment. Alternatively, Sloan can lease the equipment from a domestic supplier for $1,460 per year for four years, with no additional costs. Prepare a differential analysis dated December 3, to determine whether Sloan should lease (Alternative 1) or purchase (Alternative 2) the machine. (Hint: This is a "lease or buy" decision, which must be analyzed from the perspective of the machine user, as opposed to the machine owner.) If an amount is zero, enter "0". Use a minus sign to indicate a loss.

Answers

Answer:

Sloan Corporation

Differential Analysis:

Cost of Alternative 1 (Lease) - $1,460.00

Cost of Alternative 2 (Buy) = $1,332.50

Choose Alternative 2, purchase the equipment, and there will be a cost saving of $127.50 per year.

Explanation:

Buy Decision:

Cost of purchase = $3,040

Freight-in                      610

Total cost               $3,650

Annual equipment cost =     $912.50

Annual Repair cost =              420.00

Total annual cost to buy = $1,332.50

Cost of Lease per year = $1,460

Sloan Corporation's differential analysis of the lease or buy decision shows that it would be more profitable to purchase the equipment than to lease.  With a purchase decision, the cost savings will be $127.50 per year.  By undertaking this differential analysis, Sloan Corporation is able to determine the alternative that will serve its best interest, especially in terms of cost.

The Digital Electronic Quotation System (DEQS) Corporation pays no cash dividends currently and is not expected to for the next five years. Its latest EPS was $10, all of which was reinvested in the company. The firm’s expected ROE for the next five years is 20% per year, and during this time it is expected to continue to reinvest all of its earnings. Starting in year 6, the firm’s ROE on new investments is expected to fall to 15%, and the company is expected to start paying out 40% of its earnings in cash dividends, which it will continue to do forever after. DEQS’s market capitalization rate is 15% per year. a. What is your estimate of DEQS’s intrinsic value per share? (Do not round intermediate calculations. Round your answer to 2 decimal places.) b. Assuming its current market price is equal to its intrinsic value, what do you expect to happen to its price over the next year? (Round your dollar value to 2 decimal places.) Because there is (Click to select) , the entire return must be in (Click to select) . c. What do you expect to happen to price in the following year? (Round your dollar value to 2 decimal places.)

Answers

Answer:

a) $94.88

b)  in 1 year, the intrinsic price of the stocks should increase to $109.11

Explanation:

year                      dividend              EPS

0                              0                       $10

1                               0                       $12

2                              0                       $14.40

3                              0                       $17.28

4                              0                       $20.736

5                              0                       $24.8832

6                              $11.45               $28.61568

growth rate up to year 5 = 20%

ROE growth rate starting year 6 = 15%

dividend growth rate starting year 6 = 15% x (1 - 40%) = 9%

cost of equity = 15%

horizon value at year 5 = $11.45 / (15% - 9%) = $190.83

current intrinsic value per stock = $190.83 / 1.15⁵ = $94.88

intrinsic price in 1 year = $190.83 / 1.15⁴ = $109.11

The estimate of DEQS’s intrinsic value per share is $94.88. Also, in 1 year, the intrinsic price of the stocks will increase to $109.11.

Based on the information given, the dividend and the earnings per share are given below:

year                     dividend             EPS

0                              0                       $10

1                               0                       $12

2                              0                      $14.40

3                              0                       $17.28

4                              0                       $20.736

5                              0                       $24.88

6                              $11.45               $28.616

Growth rate up to year 5 = 20%ROE growth rate starting year 6 = 15%Cost of equity = 15%

Therefore, the dividend growth rate starting year 6 will be:

= 15% x (1 - 40%)

= 15% × 60%

= 9%

Therefore, the horizon value at year 5 will be:

= $11.45 / (15% - 9%)

= $11.45 / 6%

= $190.83

Then, the current intrinsic value per stock will be:

= $190.83 / 1.15⁵

= $94.88

The intrinsic price in 1 year will be:

= $190.83 / 1.15⁴

= $109.11

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Which of the following policies often contains clauses that permit a social networking operator to collect and store data on users or even share it with third parties?
1) Terms of Trade policy
2) Terms of Use policy
3) Terms of Endearment policy
4) Terms of Retention policy

Answers

Answer: 2) Terms of Use policy

Explanation:

Terms of service are a contract or agreement between the user of a website or in this case a social networking operator and the social networking operator itself. This agreement is meant to govern the terms of the relationship between the 2 parties in terms of what will be expected of both, i.e, their rights and responsibilities.

On the side of the social networking operator, one of the rights usually listed is one stating that the operator can collect and store data on users or even share it with third parties and so it is important to read the terms of use policy as best you can when you can.

Suppose the real interest rate is 2.8%, and the inflation rate is 7%. (1) How much do you need to invest now in order to get $100 in a year? Please show two approaches to calculate the answers. (Round your final answer to two decimal places) (2) Suppose the U.S. Treasury issues 5% coupon, 3-year TIPS (Treasury Inflation-Protected Securities). What are the real cash flows on the 3-year TIPS each year? What are the nominal cash flows on the 3-years TIPS each year? (Round your final answers to two decimal places)

Answers

Answer:

1)

approach 1, using the approximate real and nominal interest rates:

nominal interest rate = real interest rate + inflation rate = 2.8% + 7% = 9.8%

present value = $100 / (1 + 9.8%) = $91.07

approach 2, using the exact real and nominal interest rates:

(1 + i) = (1 + r) × (1 + π)

(1 + i) = (1 + 2.8%) x (1 + 7%) = 1.09996

i = 1.09996 - 1 = 0.09996 = 9.996%

present value = $100 / (1 + 9.996%) = $90.91

2)

assuming a $1,000 TIPS, nominal cash flow year 1 = $50

new face value = $1,070

nominal cash flow year 2 = $53.50

new face value = $1,144.90

nominal cash flows year 3 = $57.25 + ($1,144.90 x 1.07) = $1,282.29

assuming a $1,000 TIPS, real cash flow year 1 = $50 / 1.07 = $46.73

new face value = $1,070

real cash flow year 2 = $53.50 / 1.07² = $46.73

new face value = $1,144.90

real cash flows year 3 = [$57.25 + ($1,144.90 x 1.07)] / 1.07³ = $1,282.29 / 1.07³ = $1,046.73

Suppose you invest​ $20,000 by purchasing 200 shares of Abbott Labs​ (ABT) at​ $50 per​ share, 200 shares of Lowes​ (LOW) at​ $30 per​ share, and 100 shares of Ball Corporation​ (BLL) at​ $40 per share. Suppose over the next year Ball has a return of ​%, Lowes has a return of ​%, and Abbott Labs has a return of . The return on your portfolio over the year​ is:

Answers

Answer:

3.8%

Explanation:

There are some important parts missing:

Suppose over the next year Ball has a return of 12.5%, Lowes has a return of 21%, and Abbott Labs has a return of -10%.

We must first determine the weight of each stock in the portfolio:

ABT = ($50 x 200) / $20,000 = 50%LOW = ($30 x 200) / $20,000 = 30%BLL = ($40 x 100) / $20,000 = 20%

the expected return of the portfolio = (ABT x return) + (LOW x return) + (BLL x return) = (50% x -0.1) + (30% x 0.21) + (20% x .125) = -5% + 6.3% + 2.5% = 3.8%

A__________produces finished-goods inventory in advance of customer demand using a forecast of sales.

Answers

Answer:

Push system.

Explanation:

A push system produces finished-goods inventory in advance of customer demand using a forecast of sales and as such it is categorized as a make to stock because the production of goods are not based on actual demand by the consumers.

Under a push system, manufacturing is strictly based on a projected production plan and the flow of information between the manufacturer and the market is in the same direction with those of raw materials used.

On July 1, 20Y7, Pat Glenn established Half Moon Realty. Pat completed the following transactions during the month of July:
A. Opened a business bank account with a deposit of $25,000 from personal funds.
B. Purchased office supplies on account, $1,850.
C. Paid creditor on account, $1,200.
D. Earned sales commissions, receiving cash, $41,500.
E. Paid rent on office and equipment for the month, $3,600.
F. Withdrew cash for personal use, $4,000.
G. Paid automobile expenses (including rental charge) for the month, $3,050, and miscellaneous expenses, $1,600.
H. Paid office salaries, $5,000.
I. Determined that the cost of supplies on hand was $950; therefore, the cost of supplies used was $900.
What would the Financial Statement look like?

Answers

Answer:

Explanation:

A) Debit cash 25,000 , credit capital 25,000

B)Credit Payable 1850 , Debit supplies 1850

C) Credit cash (1200), Debit payable (1200)

D) Debit cash 41,500 , credit sales commission 41,500

E)Credit cash (3600). debit rent 3,600

F)Credit cash ( 4000), debit drawings 4000

G)credit cash (4,650), debit automobile 3,050,miscellaneous 1600

H) Credit cash (5,000), debit salaries 5000

i)Credit supplies (900) debit supplies expense 900

Overall total

Cash = 25000-1200+41500-3600-4000=4650-5000 48,050

Supplies = 1850 -900 =950

Account payable = 1850-1200 =650

Capital = 25,000

Drawing =4000

Sales commission = 41,500

Salaries = 5,000

Rent = 3,600

Automobile expenses =3050

Miscellaneous expenses =1600

Supplies expenses = 900

Income statement

Revenue ( sales commission )                                        41,500

Expenses

salaries                              5,000

Rent                                    3,600

Supplies                                900

Automobile                          3,050

Miscellaneous                      1,600

Total expenses                                                                         14,150

Gross profit                                                                                27,350

Statement of financial position

Assets

Cash                                   48,050

Supplies                                  950

Total                                     49,000

Liabilities

Account payable                   650

Capital                                   25,000

Drawing                                  (4000)

Total                                      21,650

Owners equity                      27,350

Total liabilities and equities 49,000

Owners equity = ( sales commission - salaries - rent -supplies - automobile -miscellaneous )

To avoid having a voidable contract, all 'time is of the essence' deadlines set by the contract must be met:________

a. within 24 hours of the stated deadline.
b. within 48 hours of the stated deadline.

Answers

Answer:

None of the choices are needed

Explanation:

As we know that

The contract is an agreement between two parties who are eligible and enforceable by  law

The voidable contract is an agreement that is not unenforceable by law due to various reasons like - party failure to complete the contract on time, fraud, misrepresentation, etc

So in the case of the voidable contract, no grace period is applicable neither 24 hours nor 48 hours as if there is a deadline so the same should be considered

If a corporation issues shares of​ $1 par value common stock for ​, the journal entry would include a credit​ to:

Answers

The question is incomplete. The complete question is,

If a corporation issues 10,000 shares of $1 par value common stock for $9000, the journal entry would include a credit to:

A) Common Stock for $9000.

B) Paid-in Capital in Excess of Par—Common for $9000.

C) Common Stock for $10,000.

D) Retained Earnings for $10,000

Answer:

The common stock is credited for $10000. Thus option C is the correct answer

Explanation:

The journal entry to record the issuance of shares below par value will be,

Cash                                                                    9000 Dr

Paid in Cap in excess of par-Common stock   1000 Dr

              Common stock                                             10000 Cr

Thus, the common stock is credited for the complete amount of $10000.

The cash received is $9000 and there is a shortage of $1000 which is adjusted by debited the paid in capital in excess of par account.

"What action is the Federal Reserve MOST likely to take if it is worried about increasing inflation due to extremely rapid economic expansion?"

Answers

Answer: Increase reserve requirements

Explanation:

Reserve requirements refer to the proportion of deposits that banks are required to leave with the Fed for safekeeping and the protections of depositors.

This amount reduces the amount of money that the banks can give out as loans and so is quite useful in monetary policy.

If the Fed is worried about increasing inflation due to extremely rapid economic expansion, the way to rein this in is to embark on a contractionary monetary policy.

One way to do so is to increase the reserve requirement which would mean that banks have to hold more money. Should this happen then the money supply in the economy would decrease which would ideally decrease inflation and reduce the funds available for both investment and consumption which would lead to a decrease in economic activity as well.

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