Answer:
Net decrease in prepaid expenses of $30,000 will be added to the net income in adjustments to net income because it will be considered that working capital (inventory or any other expense) has been generated by the operations.
Net decrease in Accounts payable of $20,000 will be deducted from net income in adjustments to net income because decrease in accounts payable means that cash has been paid to the outstanding payables.
Net effect of the above transactions is $30,000 - $20,000 = $10,000
So, net income will be increased by $10,000 as net effect of the above adjustments.
describe the cycle that dictates the economic ups and down of the hotel industry
The terms of business cycle which includes expansion, growth, peak, recession describes the Ups and down of the hotel industry
Business cycle refers to the cyclical upswings and downswings of a business in its output, employment, income, sales etc
The 4 stages of business cycle includes:
expansionpeakcontractiontrough/recession.In conclusion, the terms of business cycle which includes expansion, growth, peak, recession describes the Ups and down of the hotel industry
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In early 2018, selected automobiles had an average cost of $20,000. The average cost of those same motor vehicles is now $24,000. What was the rate of increase for this item over this time period
Answer:
20%
Explanation:
Calculation for What was the rate of increase for this item over this time period
Using this formula
Rate of increase= (Ending avarage cost − Beginning avarage cost )/ Beginning avarage cost
Let plug in the formula
Rate of increase= ($24,000 − $20,000) / $20,000
Rate of increase= $4,000/$20,000
Rate of increase= 0.2*100
Rate of increase= 20%
Therefore the rate of increase for this item over this time period is 20%
Stratton shipyards has 10 million dollars of sales and six million of operating cost including depreciation the company has 20 million of investor supplied operator Capital that has a cost of capital of 10% what is the firm's economic value-added to get from the company's overall tax rate of 40%
Answer:
Stratton Shipyards
The firm's economic value-added is:
$0.4 million
Explanation:
a) Data and Calculations:
Sales revenue = $10 million
Operating cost = 6 million
Pre-tax Income = $4 million
Income tax (40%) 1.6 million
After tax income $2.4 million
EVA = $2.4 million - ($20 million * 10%)
= $0.4 million
b) Stratton Shipyards Economic Value-Added (EVA) = the Net Operating Profit after Tax (NOPAT) – the product of the weighted average cost of capital (WACC) * capital invested. The EVA shows the real value creation by the company above its cost of capital.
I'm asking again because I legit need help on this. Best answer gets brainliest.
One of the biggest differences between a public sector business and a private sector business is the use of tax dollars. Public sectors businesses entirely run off of tax money, while private sector business depend on making money through selling goods or services.
1. What do you see as some of the POSITIVE aspects of depending on tax money to run a business?
2. What do you see as some of the NEGATIVE aspects of depending on tax money to run a business.
Answer:
1. the positively here is you are sure of the money need to run the business even without one doing much as long as taxes are paid and these business sectors under this category are non profit organization but for the betterment of the people
Explanation:
2. no profit is made so no gain, no specifiation on the goods to fit the requirements of the masses and mass production is mostly low quality.
the area of a rectangle is 600 cm2 and its breadth is two-third of its length find the length and breadth of the rectangle
Given:
Area of a rectangle is [tex]600 \text{cm}^2[/tex].
Breadth is two-third of its length.
To find:
The length and breadth of the rectangle .
Solution:
Let x cm be the length of the rectangle.
Then, Breadth or width of the rectangle = [tex]\dfrac{2}{3}x[/tex] cm
Area of a rectangle is
[tex]Area=Length \times Breadth[/tex]
[tex]600=x \times \dfrac{2}{3}x[/tex]
[tex]600=\dfrac{2}{3}x^2[/tex]
Multiply both sides by 3.
[tex]1800=2x^2[/tex]
Divide both sides by 2.
[tex]900=x^2[/tex]
Taking square root on both sides.
[tex]\pm \sqrt{900}=x[/tex]
[tex]\pm 30=x[/tex]
Length cannot be negative. So, x=30.
Now,
Length = [tex]30\text{ cm}[/tex]
Breadth = [tex]\dfrac{2}{3}\times 30\text{ cm}[/tex]
= [tex]2\times 10\text{ cm}[/tex]
= [tex]20\text{ cm}[/tex]
Therefore, the length of the rectangle is 30 cm and the breadth is 20 cm.
Select the correct answer.
Someone who scores mostly "yes" answers in the social category of the RIASEC would probably not enjoy a career in
A Research
B. Social work
C Nursing
D Teaching
Answer:
D
Explanation:
Answer:
D, Teaching
Explanation:
have a nice day
The LaGrange Corporation had the following budgeted sales for the first half of the current year:
Cash Sales Credit Sales
January $60,000 $160,000
February $65,000 $180,000
March $50,000 $140,000
April $45,000 $130,000
May $55,000 $210,000
June $90,000 $240,000
The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end, the following information has been assembled:
Collections on sales:
45% in month of sale
35% in month following sale
20% in second month following sale
The accounts receivable balance on January 1 of the current year was $85,000, of which $55,000 represents uncollected December sales and $30,000 represents uncollected November sales.
The total cash collected during January by LaGrange Corporation would be:_________
Answer:
$168,250
Explanation:
Total Cash Collection would include cash collected from both Cash Sales and Credit Sales.
Summary for Calculation of January Cash Collected
Cash Sales $60,000
Credit Sales :
For January Sales ($160,000 × 45%) $72,000
For December Sales ($55,000 × 55%) $30,250
For November Sales ($30,000 × 20%) $6,000
Total Collection $168,250
Conclusion :
The total cash collected during January by LaGrange Corporation would be $168,250
The total cash collected during January by LaGrange Corporation would be:$197,000.
Cash collected:
November receivables collections $30,000
December receivables collections $35,000
($55,000 × 35%/55%)
January cash sales $60,000
January credit sales collection $72,000
($160,000×45%)
Total collection $197,000
Inconclusion the total cash collected during January by LaGrange Corporation would be:$197,000.
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otal asset turnover 2.6 Profit margin 6.6 % Equity multiplier 1.5 Payout ratio 25 % What is the sustainable growth rate?
Answer:Sustainable growth rate =0.19305=19.305%
Explanation:
Sustainable growth rate is calculated as
Return on equity X (1 - dividend payout ratio)
But
Return on equity = profit margin X total asset turnover X equity multiplier
= 6.6% X 2.6 X 1.5
= 0.2574 X 100
=25.74%
The dividend payout ratio is 25% or 0.25
Sustainable growth rate =25.74% X (1-0.25)
=0.2574 X 0.75
=0.19305 X 100
=19.305%
I really can’t find the answer.
Which of the following is a way in which business benefits society?
A. It provides competition to improve customer choice.
B. It discourages innovation.
O C. It forbids social bonds in the workplace.
O D. It prevents the creation of new jobs.
SUBMIT
Answer:
A. It provides competition to improve customer choice.
Explanation:
Businesses are established to offer solutions to society's problems. Entrepreneurs identify a need or a want in society and avail products or services that will meet that need. The reward to the entrepreneur is the profit they make by charging a higher price on products than the cost incurred in availing them.
Entrepreneurs are innovative people always seeking new ways of doing things. Business competition has made innovation and creativity a necessity. Entrepreneurs are developing new, efficient, and cost-friendly products to win more customers. The biggest beneficiary is the customer and society at large as they get quality products at fair prices.
Answer:
a. it provides competition to improve customer choice
Explanation:
At a team meeting, your manager addresses some of the discord between your team members and suggests that your team should work individually instead of as a group. She asks if anyone has an opinion on the subject. You know that there are often tough times when working in a group, but in the end your team always produces great results. What could you say to convince your manager to keep your team working together
Answer: Diverse teams made up of people with different experiences are better able to create competitive advantages in the marketplace
Explanation:
Based on the scenario given in the question, what I would say to convince the manager to keep the team working together is that "diverse teams made up of people with different experiences are better able to create competitive advantages in the marketplace".
For the growth and development of every organization, teamwork is required and a diverse team that consult of people with different experience and skills will help achieve this. Everyone contributes his or her own quota on the achievement of organizational goals.
Land and Sea Incorporated would like your opinion about various countries as potential markets and investment sites. What general information can you share with them about assessing the overall attractiveness of a potential country as a market
Answer:
Land and Sea Incorporated
Country Attractiveness:
The following are general information that can be used to assess the overall attractiveness of a potential country as a market and investment destination:
1. Economic Factors: Some consideration should be paid to the foreign exchange practices, the economic competitiveness, and the fiscal policies, including taxation of the destination country.
2. Political/Legal Factors: An investment destination needs a stable political system with smooth regime-transitions. Investors should be able to secure their basic property and intellectual property rights.
3. Socio-Demographic Factors: The market potentials (market growth, entry and exit, and profit growth) and the ease of doing business in an environment are also important considerations.
4. Physical Infrastructure: It is very important to understand how the destination country is developing its physical infrastructure. Are power and energy resources readily available? Does the country possess good transportation networks that will enable the free movement of persons and goods? The security of life and property is an important factor that should never be overlooked when considering the physical infrastructure.
Explanation:
Country attractiveness is the measure of a country's readiness to welcome both domestic and international investors and provide the enabling environment for business activities. However, there should be a thorough evaluation of potential investments in a foreign country to determine the country’s suitability is in terms of its external business environments. The critical decision to invest should not be left to sentiments and political rhetorics. Some governments are experts in advertising the attractiveness of their countries. Some of them, with their investment campaigns, are not bankable.
How companies can link their compensation and evaluations to organizational objectives?
Answer:
For a company’s compensation strategy to be effective, it must be linked to the overall business strategy. Because compensation accounts for 30-60% of business costs, it is essential for organizations to identify the drivers behind pay. For this reason, the foundational step of creating any solid compensation strategy is linking it to the business strategy.
Explanation:
One of the main tools used by economists to measure the actual distribution of income in an economy is:
Answer: Lorenz curve
Explanation:
One of the main tools used by economists to measure the actual distribution of income in an economy is known as the Lorenz curve.
The Lorenz curve Lorenz curve is a graph that shows the inequality witybrwgrds to the income and wealth distribution for a particular economy. The x-axis on the graph shows the population, while the y-axis shows the wealth.
Gabuat Corporation, which has only one product, has provided the following data concerning its most recent month of operations:
Selling price $147
Units in beginning inventory 0
Units produced 2,200
Units sold 1,910
Units in ending inventory 290
Variable costs per unit:
Direct materials $47
Direct labor $34
Variable manufacturing overhead $5
Variable selling and administrative expense $6
Fixed costs:
Fixed manufacturing overhead $39,600
Fixed selling and administrative expense $15,280
The total gross margin for the month under the absorption costing approach is:________
Answer:
Gross Margin $82,130
Explanation:
The computation of the gross margin under the absorption costing approach is as follows:
Sales ($147 × 1,910 units) $280,770
Less:
Direct Material ($47 × 1,910 units) $89,770
Direct Material ($34 x 1,910 units) $64,940
Variable Manufacturing Overhead ($5 × 1,910 units) $9,550
Fixed Manufacturing Overhead ($39,600 ÷ 2,200 units) × $1,910 units $34,380
Gross Margin $82,130
Problems and Applications Q9 Indicate whether each of the following statements is true or false. Statement True False 1. There can be no gains from trade between two countries if one of them has an absolute advantage in the production of all goods. 2. Comparative advantage determines the gains from specialization and trade. 3. If a certain trade is good for one country, it can't be good for the other country. 4. Two individuals can benefit from specialization and trade if they agree upon a price that lies between their opportunity costs of producing the good. 5. When a country opens to trade, people working in industries producing goods that the country exports are harmed by the trade.
Answer:
1. FALSE
There can still be gains from trade if one country has an Absolute advantage in the production of all goods because having absolute advantage does not mean that it has comparative advantage. If they did have comparative advantage in all goods then there would be no gain.
2. TRUE
As shown in the explanation above, gains from trade are determined by comparative advantage. If a country has comparative advantage in a good, it can gain from trading for a good it does not have comparative advantage in.
3. FALSE
Trade can and should be mutually beneficial to both countries.
4. TRUE
If both parties agree to a price that lies between their opportunity costs, they can make gains because they would be making more than their opportunity costs.
5. FALSE
The country has opened up to trade which means that the good they export now has a larger market to sell to. This will be beneficial to the people in the exporting industry as they will sell more and thus make more money.
does anyone know a free app that i can watch shows on? what show u may ask it called the 100
State two goals you hope to achieve through applying your coursework this term to your workplace experience.
Explanation:
1. Improve communication skills
2. Apply customer relationship marketing
The current business scenario is globalized and highly competitive, the social dynamics resulting from globalization and new technologies have changed the demands and relations between company / consumer, this new parameter requires companies to be promoters of society's well-being, acting with socio-environmental responsibility in the market, which means that this includes the relationship with all its stakeholders.
Therefore, it is essential that interpersonal communication skills are improved in a management-oriented course and applied to the work environment, as organizations have more and more responsibilities when dealing with people, and negotiation and communication skills with people are increasingly valued. different nationalities and culture, with ethics in communication being an essential factor.
Relationship marketing is also another essential factor that must be applied in the workplace, especially if you work directly with the customer or work using the internet, since companies are closer to customers, and must generate value and engagement that creates market identification and positioning.
A goal is termed as the idea of the future result that is committed to achieving. It can be a plan or envision that is to be accomplished by a group of persons. The deadline is set for the accomplishment of the goals by the group of people.
The two goals to achieve in the workplace are:
1. Improve communication skills
2. Apply customer relationship marketing
The current business scenario is globalized and highly competitive, the social dynamics resulting from globalization and new technologies have changed the demands and relations between company and the consumer. Relationship marketing is also another essential factor that must be applied in the workplace.
Therefore, it is essential that interpersonal communication skills are improved in a management-oriented course and applied to the work environment, as organizations have more and more responsibilities when dealing with people, and negotiation and communication skills with people are increasingly valued.
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For Wildhorse Company, variable costs are 68% of sales, and fixed costs are $199,000. Management’s net income goal is $77,800. Compute the required sales in dollars needed to achieve management’s target net income of $77,800. (Use the contribution margin approach.)
Answer: $865000
Explanation:
Contribution margin ratio would be gotten as:
= 100% - 68%
= 32%
= 0.32
Then, the desired sales would be:
= (Fixed cost + desired profit) / CM ratio
= (199,000 + 77800) / 0.32
= 276800 / 0.32
= $865000
What is a determinant of demand that would cause demand to increase?
Answer:
Increase in income
Increase in price of substitutes
Change in taste
Explanation:
If income increases, the demand for a good rises as the amount of disposable income increases,
A substitute good is a good that can be used in place of another good. e.g. pen and pencils. If the price of a substitute (e.g. pens) increases, it becomes more expensive. Consumers would shift to the demanding pencils. As a result the demand for pencils would increase
A change in taste. For example, if an individual prefers pencils to pens. he would demand more of pencils and less of pend. As a result, the demand for pencils would increase
differentiate between a department with line responsibility and a department with staff responsibility
Answer:
While a department with line responsibility is directly involved in the daily activities and management of the business, a department with staff responsibility simply provides support for the line managers.
Explanation:
The line department consists of the chain of leaders whose positions in the organization are clearly differentiated from those of their subordinates. They make decisions and supervise the daily affairs of the business. Examples of these include; the department heads, the president, the production supervisors, etc.
A department with staff responsibility provides support for the department with line responsibility. Examples of personnel in the line department are the legal advisers and the human resource staff. The legal advisers provide support by advising the line managers on the lawful means to transact their business activities.
As part of the initial investment, Ray Blake contributes equipment that had originally cost $101,300 and on which accumulated depreciation of $75,975 has been recorded. If similar equipment would cost $158,400 to replace and the partners agree on a valuation of $51,500 for the contributed equipment, what amount should be debited to the equipment account
Answer:
This is a repeat question on Brainly but here you go.
$51,500Whether original cost or replacing cost is given in the question but we considered that cost in which the partner give their consent
So, the equipment amount should be debited at $51,500 instead of the original cost or the replacing cost
Lawn Master Company, a manufacturer of riding lawn mowers, has a projected income for the coming year as follows: Sales $ 36,000,000 Operating expenses: Variable expenses $ 19,800,000 Fixed expenses 8,100,000 Total expenses 27,900,000 Operating profit $ 8,100,000 Required: 1. Determine the breakeven point in sales dollars. 2. Determine the required sales in dollars to earn a before-tax profit of $9,135,000. (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.) 3. What is the breakeven point in sales dollars if the variable expenses increases by 9%
Answer:
Lawn Master Company
1. Break-even point in sales dollars:
= $18,000,000
2. Required sales in dollars to earn a before-tax profit of $9,135,000:
= $38,300,000
3. The break-even point in sales dollars if the variable expenses increases by 9%:
= $20,224,719
Explanation:
a) Data and Calculations:
Sales $ 36,000,000
Operating expenses:
Variable expenses $ 19,800,000
Contribution margin $16,200,000
Fixed expenses 8,100,000
Total expenses 27,900,000
Operating profit $ 8,100,000
Contribution margin ratio = $16,200,000/$36,000,000 * 100 = 45%
Break-even point in sales dollars = Fixed cost/Contribution margin
= $8,100,000/0.45 = $18,000,000
Break-even point in sales dollars to earn a before-tax profit of $9,135,000
= (Fixed cost + target profit)/Contribution margin ratio
= ($8,100,000 + $9,135,000)/0.45
= $17,235,000/0.45
= $38,300,000
Break-even point in sales dollars if the variable expenses increase by 9%
Increased variable expenses = $21,582,000 ($ 19,800,000 * 1.09)
Contribution margin will reduce to $14,418,000 ($36,000,000 - $21,582,000)
Contribution margin ratio = $14,418,000/$36,000,000 * 100 = 0.4005
Therefore, break-even point in sales dollars = Fixed cost/0.4005
= $8,100,000/0.4005
= $20,224,719
Identify each statement as true or false. 1. Process cost systems are used to apply costs to similar products that are mass-produced in a continuous fashion. select between True and False 2. A process cost system is used when each finished unit is indistinguishable from another. select between True and False 3. Companies that produce soft drinks, movies, and computer chips would all use process cost accounting. select between True and False 4. In a process cost system, costs are tracked by individual jobs. select between True and False 5. Job order costing and process costing track different manufacturing cost elements. select between True and False 6. Both job order costing and process costing account for direct materials, direct labor, and manufacturing overhead. select between True and False 7. Costs flow through the accounts in the same basic way for both job order costing and process costing. select between True and False 8. In a process cost system, only one work in process account is used. select between True and False 9. In a process cost system, costs are summarized in a job cost sheet. select between True and False 10. In a process cost system, the unit cost is total manufacturing costs for the period divided by the equivalent units produced during the period.
Answer:
1. True
2. True
3. False - movie companies will not.
4. False
5. False
6. True
7. True
8. False
9. False
10. True
The 2019 balance sheet of Dyrdek’s Skate Shop, Inc., showed $530,000 in the common stock account and $2.3 million in the additional paid-in surplus account. The 2020 balance sheet showed $570,000 and $2.5 million in the same two accounts, respectively. If the company paid out $320,000 in cash dividends during 2020, what was the cash flow to stockholders for the year?
Answer:
$80,000
Explanation:
[tex]The \ expression \ for \ calculating \ cash \ flow \ to \ stockholders \ is:[/tex]
[tex]Cashflow \ = \ Dividend \ paid \ during \ the \ year \ - \ change \ in \ t he \ value \ of \ common \ stock \ during \ - \ change \ in \ value \ of \ stock \ in \ the \ previous \ year[/tex][tex]Here;[/tex]
[tex]Change \ in \ value \ of \ Common \ stock \ during \ the \ year \ =[/tex] [tex]\ Value \ of \ Common \ stock \ of \ the \ Curren t \ Year - Value\ of \ Common \ stock \ of \ the \ Previous \ Year[/tex]
[tex]Change \ in \ valu e \ of \ Additional \ paid \ in \ surplus \ account \ during \ the \ year =[/tex]
[tex]Value \ of \ Additional \ paid \ in \ surplus \ account \ o f \ the \ Current \ Year \ -[/tex] [tex]\ Value \ of \ Additional \ paid \ in \ surplus \ account \ of \ th e \ Previous \ Year[/tex]
From the information given:
[tex]Dividend \ Payment \ during \ the \ year[/tex] 2020 = $320000
[tex]Value \ of \ stock \ in \ current \ yr[/tex]= i.e. 2020 = $570000
[tex]Value \ of \ stock \ in \ previoius \ yr[/tex] = i.e. 2019 = $530000
Change = $570000 - $530000 = $40,000
[tex]Value \ of \ Ad ditional \ paid-in \ surplus \ acct \ of \ the \ current \ year[/tex] = $2,500,000
[tex]Value \ of \ Ad ditional \ paid-in \ surplus \ acct \ of \ the \ previous \ year[/tex] = $2,300,000
Change = $2,500,000 - $2,300,000 = $ 200000
∴
[tex]By \ using \ the \ above \ information \ in \ the \ formula \ for \ calculating \ the \ cash \ flow \ to[/tex]
[tex]\ stackholder, \ we \ get:[/tex]
= $320000 - $40,000 - $ 200000
= $80,000
The Jackson-Timberlake Wardrobe Co. just paid a dividend of $1.52 per share on its stock. The dividends are expected to grow at a constant rate of 7 percent per year indefinitely.
Required:
a. If investors require a 11 percent return on The Jackson-Timberlake Wardrobe Co. stock, what is the current price?
b. What will the price be in 8 years?
Answer:
A. $40.66
B. $69.86
Explanation:
A. Calculation for what is the current price
Using this formula
Current price=Dividend per share(1+Expected constant rate)/ (Require return percentage-Expected constant rate)
Let plug in the formula
Current price=1.52(1+.07) / (.11-.07)
Current price=1.52(1.07) / (.11-.07)
Current price=1.6264/0.04
Current price=$40.66
Therefore the Current price will be $40.66
b. Calculation for What will the price be in 8 years
Using this formula
Price=Dividend per share(1+Expected constant rate)^Numbes of years/ (Require return percentage-Expected constant rate)
Price=1.52(1+.07)^9/ (.11-.07)
Price=1.52(1.07)^9/ (.11-.07)
Price=2.7945/0.04
Price=$69.86
Therefore What will the price be in 8 years is $69.86
Fran owns Consolidated Auto Parts, a company that got its start making auto parts related for hybrid vehicles, but her firm has had difficulty establishing itself as a maker of parts for the more-profitable internal combustion engine. What is most likely contributing to Consolidated's problem in this area?
Answer:
The answer is "Barriers to entry typically support incumbents in a lucrative industry".
Explanation:
Fran owns Integrated Car Parts, which started producing auto parts for electric vehicles, but it's been difficult for Fran to establish itself as just a part producer for a diesel engine which would be more lucrative. Barriers to entry usually shield established participants in such a profitable industry, which most probably contributes to the issue of Consolidation.
aron Company has a process costing system. All materials are introduced when conversion costs reach 50 percent. The following information is available for physical units during March
Work in process, March 1 (60% complete as to conversion costs) 150,000Units started in March 600,000Units transferred to Finishing Department in March 630,000Work in process, March 31 (40% complete as to conversion costs) 120,000Compute the equivalent units for materials costs and for conversion costs using FIFO method
Answer:
Equivalent units of production for materials
Opening work in process was complete with respect to materials so not EUP there.
Closing work in process was complete as well.
EUP for materials is:
= Units transferred to Finishing Department - opening WIP
= 630,000 - 150,000
= 480,000 units
Equivalent units of production for conversion
= EUP opening work in process + units transferred to finishing department + EUP closing work in process
= (40% * 150,000) + 480,000 + (40% * 120,000)
= 60,000 + 480,000 + 48,000
= 588,000 units
EUP opening work in process already had 60% of conversion cost incurred in previous period so only 40% will be incurred in present period.
2. Which of the following groups of users would primarily be interested in a company's annual
published financial statements?
A. Shareholders and suppliers
B. Management and employees
C. Shareholders and providers of finance
D General public, environmental pressure groups
Answer:
C. Shareholders and providers of finance
Explanation:
A company's financial report communicates the financial health of a business. It indicates whether a business is profitable and can meet its financial obligations.
Shareholders are the owners of a business. They are interested in the financial reports to know if their venture is making profits. Shareholders expect to earn dividends from the business. Only a profitable business is able to declare dividends. Financial reports guide shareholders in making decisions regarding the future of the business.
Lenders provide debt capital to a business. If the company is profitable, then lenders are happy because their payments are assured. Lenders rely on financial reports in deciding whether to extend or deny credit to businesses.
Farah and David decide to form a sports memorabilia retail partnership. They have known each other since business graduate school and have always worked well together on various projects. The business is doing well but cash flow is very tight. Farah takes several calls from vendors asking for payment. He believed David had been paying the bills. When he asks about this, David admits to embezzling from the partnership. What liability does Farah face as a result of the theft
Answer:
Farah faces a general partnership as a result of theft
Explanation:
General Partnership is simply a free association of two or more persons to carry on business for profit gains.
Partnership agreement is simply an agreement by two or more persons to do business together as a partnership in an oral or written form.
Based on the provided information, Farah faces a general partnership as a result of theft.
According to the question, we were to discuss about Farah and David who decide to form a sports memorabilia retail partnership and the liability that Farah faced.
As a result of this, we can see that she faced general partnership as a result of theft, general Partnership which is a free association of two or more party to share gain from a business,
Therefore, since David admits to embezzling from the partnership then it is a theft from partnership.
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Determine the present value of the following single amounts (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided. Round your final answers to nearest whole dollar amount.):
Answer:
1. $15,406
2. $6,461
3. $2,118
4. $15,262
Explanation:
Calculation to Determine the present value
1. Calculation for the Present Value of $31,000, n= 12, i =6%
First step is to find the Present value of $1:
n= 12, i =6% (from PV of $1)
Where,
n represent the period for investment
i represent the interest rate
The Present value of $1:n= 12, i =6% (from PV of $1) is 0.49697
Now let Calculate the Present Value of $31,000,n= 12, i =6%
Present value=$31,000 *0.49697
Present value= $15,406
2. Calculation for the Present Value of $25,000, n= 20, i =7%
First step is to find the Present value of $1:
n= 20, i =7% (from PV of $1)
Where,
n represent the period for investment
i represent the interest rate
The Present value of $1:n= 20, i =7% (from PV of $1) is 0.25842
Now let Calculate the Present Value of $25,000, n= 20, i =7%
Present value=$25,000 *0.25842
Present value= $6,461
3. Calculation for the Present Value of $36,000, n= 25, i =12%
First step is to find the Present value of $1:
n= 25, i =12% (from PV of $1)
Where,
n represent the period for investment
i represent the interest rate
The Present value of $1:n= 25, i =12% (from PV of $1) is 0.05882
Now let Calculate the Present Value of $36,000, n= 25, i =12%
Present value=$36,000 *0.05882
Present value= $2,118
4.Calculation for the Present Value of $51,000, n= 14, i =9%
First step is to find the Present value of $1:
n= 14, i =9% (from PV of $1)
Where,
n represent the period for investment
i represent the interest rate
The Present value of $1:n= 14, i =9% (from PV of $1) is 0.29925
Now let Calculate the Present Value of $51,000, n= 14, i =9%
Present value=$51,000 *0.29925
Present value= $15,262
Therefore the PRESENT VALUE will be:
Future Amount i = n = Present Value
1 $31,000 6% 12 =$15,406
2 $25,000 7% 20 =$6,461
3 $36,000 12% 25 =$2,118
4 $51,000 9% 14 =$15,262
