Answer:
Thus, the ideas that physical bodies are collections of atoms or that a given mental state (e.g., one person's belief that snow is white) is identical to a particular physical state (the firing of certain neurons in that person's brain) are examples of reductionism.
Explanation:
A partial list of Waterways' accounts and their balances for the month of November 2016 follows:
Accounts Receivable $ 275,000
Advertising Expenses 54,000
Cash 260,000
Depreciation-Factory Equipment 16,800
Depreciation-Office Equipment 2,400
Direct Labor 42,000
Factory Supplies Used 16,800
Factory Utilities 10,200
Finished Goods Inventory, November 30 68,800
Finished Goods Inventory, October 31 72,550
Indirect Labor 48,000
Office Supplies Expense 1,600
Other Administrative Expenses 72,000
Prepaid Expenses 41,250
Raw Materials Inventory, November 30 52,700
Raw Materials Inventory, October 31 38,000
Raw Materials Purchases 184,500
Rent Factory Equipment 47,000
Repairs-Factory Equipment 4,500
Salaries 325,000
A list of accounts and their values are given above. From this information, prepare a partial balance sheet for Waterways Corporation for the month of November. (List Current Assets in order of liquidity.)
Answer:
Total current assets = $697,750
Explanation:
The partial balance sheet is as follows:
Waterways Corporation
Balance Sheet (Partial)
For the month of November 2016
Details $ $
Current Assets
Cash 260,000
Accounts Receivable 275,000
Finished Goods Inventory, November 68,800
Raw Materials Inventory, November 52,700
Prepaid Expenses 41,250
Total current assets 697,750
Note:
Cash is the most liquid of assets.
Accounts receivable which should be collected within 30 to 60 days are less liquid than cash, but more liquid than inventory.
Finished Goods Inventory which is expected to be sold and converted to cash within one year, and Raw Materials Inventory which is expected to be converted to finished good within one year are more liquid than Prepaid expense.
Therefore, the least liquid among current assets’ item above is the Prepaid Expense as it is cash paid for services not yet received..
4. Problems and Applications Q4 Many observers believe that the levels of pollution in our society are too high. True or False: If society wishes to reduce overall pollution by a certain amount, it is efficient to have firms with lower costs reduce greater amounts of pollution than those with higher costs.
Answer: True
Explanation:
Firms with lower costs would also incur a lower cost when they try to reduce pollution so they should reduce more pollution because of this reduced cost that they will incur.
Firms with higher costs would then reduce less pollution because this would ensure that they do not spend too much on pollution reduction and incur even more costs.
Daphne Inc., a steel manufacturing company, is planning to buy a new plant at $1,090,000. The life of the plant is estimated to be 5 years and has cash flows of $109,000, $218,000, $327,000, $436,000, and $545,000. Calculate the payback period for the new plant.
a. 5 years
b. 2 years
c. 4 years
d. 3 years
Answer:
The payback period is exactly 4 years.
Explanation:
Giving the following information:
Initial investment= $1,090,000
Cf1= 109,000
Cf2= 218,000
Cf3= 327,000
Cf4= 436,000
Cf5= 545,000
The payback period is the time required to cover the initial investment:
Year 1= 109,000 - 1,090,000= -981,000
Year 2= 218,000 - 981,000= -763,000
Year 3= 327,000 - 763,000= 436,000
Year 4= 436,000 - 436,000= 0
The payback period is exactly 4 years.
CompuGlobal is an American firm producing computers. CompuGlobal imports computer components from Taiwan and assembles them domestically. Suppose that in the United States, a computer sells for $800 and that 60% of the computer’s value comes from the value of the imported components. The United States imposes a 50% tariff on computers and a 10% tariff on the computer’s components. Assume that costs of producing components are the same in the United States and Taiwan and that transit costs are nonexistent. Based on the information provided, the effective rate of protection that CompuGlobal receives from the tariff is
Answer: 110%
Explanation:
The effective rate of protection is used in measuring the final tariff in a particular sector and it's expressed as:
g = (t -ai,ti) / (1 - ai)
where,
g = effective protection rate
ai = nominal tariff rate = 0.6
t = cost of intermediate input = 0.5
ti = nominal tariff on intermediate input = 0.1
The computer price here is $800 while the input price is 60% of $800 which will be:
= 60% × $800 = $480
nominal tariff rate = 480/800 = 0.6
Nominal tariff on final goods, t = 50% = 0.5
Tariff on imported input, ti = 10% = 0.1
Using the formula:
g = (t -ai,ti) / (1 - ai)
g = [0.5 - (0.6×0.1)] / (1 - 0.6)
g = (0.5 - 0.06) / 0.4
g = 0.44/.0.4
g = 1.10
g = 110%
The effective rate of protection is 110%
Under IFRS, when a lessee recognizes a balance sheet asset and liability for a new lease: the asset and liability are equal. the asset is typically greater than the liability. the liability is typically greater than the asset.
Answer:
the asset and liability are equal.
Explanation:
IFRS 16 lease and IAS 17 deals in important changes where the lease transactions are reported in the lessee financial statement
In this the assets and liabilities that are occured from the lease should be initially determined on the present value basis
Also the assets and liability are equivalent to each other
Therefore the first option is correct
List three (3) distinctions between limited liability partnership and conventional partnership using statute and decided cases.
If you're operating as a limited partnership, the general partner has unlimited liability for company losses and debts, while a limited partner has limited liability protection against company debts and losses. ... In an LLP, all partners have limited liability protection against company obligations and debts.
HELPPP PLEASE !
1. Write one paragraph about a person who decides that taking an hourly job with
tips is a better choice than accepting a salaried job with benefits.
We want to help the user to understand why it gives more preference to the hourly job as compared to the salaries job with benefits
The reasons why the hourly job is better than accepting the salaried job with benefits are as follows:
Hourly job considered to be the goods job for earning the money in haste or at the time when the insurance & vacation should not be considered as the deciding factor. The question that arises is that you are searching for a job or interested to run a family business that has various benefits.Salary jobs provides the compensation along with the other benefits the company provides like insurance, vacation time, incentives, life insurance. In the case of hourly job, the number of hours they actually work and how much energy they would put into their work. They could choose their time also eligible for overtimeIn the case of salaried job, the same amount of money should be provided but along with it the stress should be there like working on weekends, working 10-12 hours a day, etcTherefore in these ways hourly job is better than accepting a salaried job with benefits
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Ajax, Inc., issued callable bonds with a par value of $1,000,000 that require the payment of a call premium of $10,000. The bonds have a carrying value of $990,000. We call these bonds prior to maturity on September 30.
Required:
Write down journal entry.
Answer: please see explanation column for answers.
Explanation:
The journal entry is as follows:
To record the bonds payable and retirement
Date Account titles and explanation Debit Credit
Sept 30, Bonds payable $1,000,000
Loss on bonds retirement $20,000
To Discount on bond $10,000
To cash $1,010,000
Calculation:
Loss on bonds retirement:Total Cash disbursements - carrying value
= (par value of the bonds+ call premium) -carrying value
= ($1,000,000 + $10,000) - $990,000
= $1,010,000 - $990,000
= $20,000
Budgeted overhead for Cinnabar Industries at normal capacity of 30,000 direct labor hours is $6 per hour variable and $4 per hour fixed. In May, $310,000 of overhead was incurred in working 31,500 hours when 32,000 standard hours were allowed. The overhead volume variance is Group of answer choices $10,000 favorable. $11,000 favorable. $5,000 favorable. $8,000 favorable.
Answer:
Manufacturing overhead volume variance= $5,000 favorable
Explanation:
Giving the following information:
Estimated overhead allocation rate= 4 + 6= $10 per direct labor hour
Actual number of hours= 31,500
Standard hours were allowed= 32,000
To calculate the overhead volume variance, we need to use the following formula:
Manufacturing overhead volume variance= (Estimated manufacturing overhead rate*standard allocation base) - (Estimated manufacturing overhead rate* Actual amount of allocation base)
Manufacturing overhead volume variance= (10*32,000) - (10*31,500)
Manufacturing overhead volume variance= $5,000 favorable
blank is a crucial factor to small business success A. Location B. Financing C. Advertising D. legal advice
Answer:
Advertisement
Explanation:
Advertising
Bow-Wow Company manufactures a product with a unit variable cost of $50 and a unit sales price of $88. Fixed manufacturing costs were $240,000 when 10,000 units were produced and sold. The company has a one-time opportunity to sell an additional 1,000 units at $70 each in a foreign market which would not affect its present sales. If the company has sufficient (excess) capacity to produce the additional units, acceptance of the special order would affect net income as follows:
a. Income would decrease by $4,000.
b. Income would increase by $4,000.
c. Income would increase by $70,000.
d. Income would increase by $20,000.
The difference between actual overhead costs incurred and the budgeted overhead costs based on a flexible budget is the: Multiple Choice Production variance. Controllable variance. Volume variance. Price variance. Quantity variance.
The difference between actual overhead costs incurred and the budgeted overhead costs based on a flexible budget is the controllable variance.
In accounting, there are two elements of a variance- rate variance and volume variance. While the rate variance refers to the difference in the actual price paid vs. the budgeted price, the volume variance refers to the portion of the variance in sales, unit usage.
The controllable variance is in the "rate" element of the variance.Controllable variance refers to the process by which the efficiency of using variable overhead resources is measured.This means that the controllable variance is the difference between the actual cost and the budgeted overhead cost.The calculation for this variance is: Actual overhear expense - (budgeted overhead cost x standard number of units)= overhead controllable variance.In short, we can say that the controllable variance is the amount that is not part of the volume variance. Rather, it is the difference in the overhead cost incurred and the budgeted overhead cost.
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What are the purposes of the Democratic leadership style?
Answer:
#It brings peace in the society.
#It increases the growth/development of a society.
#It enables civilians of a society to express themselves.
Answer:
Democratic leadership is a type of leadership in which the Group's members play a more participatory role.
Explanation:
This leadership style allows everyone to participate, discuss ideas, hear their views, and encourage debate. However, the group leader still needs guidance and guidance to achieve the goals and goals.
Members of the Group are encouraged to share opinions and ideas, even if the leader retains the last say in decisions.Group members feel more committed to the process.Creativity is promoted and recompensed.As there is group engagement and discussion, more thoughts and ideas lead to better ideas and solutions, the main benefit of a democratic leadership style.
The participants in a group participate more in and engage in projects that increase their investment in the final results. In essence, they care more and increase productivity.
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2022 Ethics and Compliance Test
2022 Ethics and Compliance Test
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X EXIT
Janine, currently enrolled in a 3-star plan,
discovers there is 5-star plan available where
she lives. She asks her agent, Josh, to enroll
her in the 5-star plan. Josh can advise Janine
of each of the following except:
Josh should tell Janine that she can only change her current plan to a 5-
star plan during the Annual Election Period.
Josh should tell Janine that she can only use the 5-Star SEP once per
calendar year.
Josh should tell Janine that she can change her current plan to a 5-star
Answer:
Janine and Josh
Josh can advise Janine of each of the following except:
Josh should tell Janine that she can only change her current plan to a 5-
star plan during the Annual Election Period.
Explanation:
The Special Election Period (SEP) for the 5-star Medicare Plan lasts one week, that is, between Nov. 30 and Dec. 8. However, there is an Annual Enrollment Period (AEP) that lasts from October 15th to December 7th. During the annual enrollment period, any plan holder can change her Medicare plan, depending on its availability in her area.
Gotiable sells straw hats for $24 each. The April inventory purchases are summarized below. Gotiable sold 142 hats at a hat festival on April 28. Units Cost each Dollars Beg. Inv. 84 3 252 April 2 75 4 300 April 14 66 7 462 April 23 52 8 416
Assume that Gotiable uses the average cost method for inventory costing.
1. What is the average cost of one hat? (Round to the nearest penny (2 decimal points)).
2. What will be the dollar value of the inventory on the April 30th balance Sheet? (Round to the nearest dollar)
3. What will Gotiable report as Gross margin for the hats for the month of April? (Round to the nearest dollar)
Answer and Explanation:
The computation is shown below:
1.
Particulars Units Unit Cost Dollars
Beg. Inv. 84 $3 $252
Apr-02 75 $4 $300
Apr-14 66 $7 $462
Apr-23 52 $8 $416
Total 277 $1,430
Average cost of one hat is
= Total cost of purchases ÷ Units purchased
= $1,430 ÷ 277 units
= $5.16
2.
Ending Inventory in Units = Units purchased - Units sold
= 277 units - 142 units
= 135 units
Now
Value of Ending Inventory = Units in Ending Inventory × Average cost per unit
= 135 units × $5.16
= $696.60
= $697
3
Gross Margin = Units sold × (Selling Price - Cost of goods sold)
= 142 units × ($24 - $5.16)
= $2,675.28
= $2,675
Monetary stimulus is only helpful to an economy: __________
a. experiencing significant negative externalities.
b. that's in recession.
c. with few public goods.
If an investor has a choice of investing money at 6% compounded daily or 6.025% compounded quarterly which one is best
General Rule: Daily compounding gives a higher yield
Compounding works like this:
6.025% per quarter
Quarter 1: $100 x 6.025% = $6.025
Quarter 2: $106.025 x 6.025% = $6.388
Quarter 3: $112.413 x 6.025% = $6.7729
Quarter 4: $119.186 x 6.025% = $7.4491
Etc…
6% per day
Day 1: $100 x 6% = $6
Day 2: $106 x 6% = $6.36
...
Day 365: $193.47 x 6% = $11.96
A firm is making an economic loss of $100,000. This means that: multiple choice 1 the firm should immediately exit the industry. the firm's revenues are less than its opportunity costs. the firm is not making an accounting profit. the firm could increase economic profit if its resources were used in a different way. If a firm is making an economic profit of zero: multiple choice 2 it will have unhappy stockholders. it is not making an accounting profit. the firm should change to a different line of business. it cannot make a higher economic profit by changing how it is using its resources.
A firm is making an economic loss of $100,000. This means that:
Choice 1 -
The firm could increase economic profit if its resources were used in a different way.
If a firm is making an economic profit of zero:
Choice 2 -
It cannot make a higher economic profit by changing how it is using its resources.
What Is Economic Profit (or Loss)?An economic profit or loss is the difference between the revenue received from the sale of an output and the costs of all inputs used, as well as any opportunity costs. In calculating economic profit, opportunity costs and explicit costs are deducted from revenues earned.Opportunity costs are a type of implicit cost determined by management and will vary based on different scenarios and perspectives.The calculation for economic profit --Economic profit = revenues - explicit costs - opportunity costsLearn more about Economic Profit (or Loss) on:
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Required information Skip to question [The following information applies to the questions displayed below.] The Tennis Times (TTT) is a publisher of magazines. Its accounting policy for subscriptions follows: Revenues Revenues from our magazine subscription services are deferred initially and later recognized as revenue as subscription services are provided. Assume TTT (a) collected $420 million in 2018 for magazines that will be distributed later in 2018 and 2019, (b) provided $204 million of services on these subscriptions in 2018, and (c) provided $216 million of services on these subscriptions in 2019. Required: Using the information given, indicate the accounts, amounts, and accounting equation effects of transactions (a), (b), and (c). (Enter any decreases to assets, liabilities, or stockholders equity with a minus sign. Enter your answers in whole dollars.)
Answer:
The solution to the given question is defined in the attached file please find it.
Explanation:
Colorado Cleaning has a 5-year maximum acceptable payback period. The firm is considering the purchase of a new washing machine and must choose between two alternative ones. The first machine requires an initial investment of $25,000 and generates annual after-tax cash inflows of $6,500 for each of the next 8 years. The second machine requires an initial investment of $75,000 and provides an annual cash inflow after taxes of $9,500 for 15 years.
Required:
a. Determine the payback period for each machine.
b. Comment on the acceptability of the machines, assuming that they are independent projects.
c. Which machine should the firm accept? Why?
d. Do the machines in this problem illustrate any of the weaknesses of using payback? Discuss.
Answer:
a) Payback period = period up to which cumulative cash flow is negative +
(negative cumulative cash flow /cash flow succeeding
the above period)
Project A - Up to year 4 ,cash flow recovered = 3000 * 4 = 12,000
Payback period =14,000/3,000 = 4.67 years
Project B= Cash flow recovered up to year 5 = 4000 * 5 = 20000
Payback period = 21,000/4,000 =5.25 years
b) On the basis of the Payback period, Project A should be selected, as it has a lower payback period and is also within the maximum acceptable payback period. back period.(4.67 < 5)
Project B should not be selected as its payback recovery is not within the maximum acceptable payback period (5.25 >5 )
c) Machine A should be selected as it has a lower payback period. than machine B.
d)The payback period ignores the life present value of cash flow and also the life of the machine each project has.
so the decision on the basis of the payback period may not be accurate.
_____ stock is the number of shares that a corporation's charter allows it to sell. The number of these shares usually exceeds the number of shares issued (and outstanding), often by a large amount.
An authorized stock is the number of shares that a corporation's charter allows to sell.
Authorized stock is the legal number or limit of shares that a company allows or authorizes to be sold or put in the market. This factor of policy is applicable as per the charter that the corporation allows or is legally viable to provide.
In the issue of sharing shares of a company, an organization can allow only a certain limit of shares that can be sold. This limit is the number of shares that a corporation can issue to its shareholders or investors.This stock is different from issued stock which refers to the actual number of stocks that the company has sold.Rather, authorized stock is the amount of shares that can be sold by the company and being provided in the market to be bought by shareholders or investors.Thus, we can conclude that whatever limit a corporation allows or provides to be sold is the authorized stock. And it is only this number of shares that can be issued or given to a shareholder to buy.
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Which of the following statements about the monetary aggregates is true?
a. The growth rates of M1 and M2 always track each other closely.
b. M1 is greater than M2.
c. When the growth rate of M2 increases, the growth rate of M1 must also increase.
d. When you transfer funds from your savings account to your checking account, M1 increases and M2 stays the same.
Given that, in billions of U.S. dollars, we have in currency, in demand deposits, in traveler's checks, in savings deposits, and in other checkable deposits. The total M1 amount in this economy is $__________
Answer: D. When you transfer funds from your savings account to your checking account, M1 increases and M2 stays the same.
Explanation:
1. Since M2 = M1 + Saving deposit + Time deposits + Money Market deposit of individuals, then from the options given, the true statement about the monetary aggregate is that when you transfer funds from your savings account to your checking account, M1 increases and M2 stays the same. Therefore, the fire option is D.
2. Your second question isn't well written but let's assume some figures in order to solve the question.
Let's say,
Currency = $863.2 billion
Demand deposit = $573.5 billion
Traveler's cheque = $3.8 billion
Savings deposit = $5237.8
Other checkable deposit = $319
Therefore, the total M1 amount in this economy will be:
M1 = Currency + Demand deposit + Travelers check + Other checkable deposits
= 863.2 + 573.5 + 3.8 + 319
= $1759.5 billion
Glen Inc. and Armstrong Co. have an exchange with no commercial substance. The asset given up by Glen Inc. has a book value of $72,000 and a fair value of $96,000. The asset given up by Armstrong Co. has a book value of $120,000 and a fair value of $114,000. Boot of $24,000 is received by Armstrong Co.What amount should Armstrong Co. record for the asset received
Answer:
the amount that should be recorded as the asset is $96,000
Explanation:
The computation of the amount that should be recorded as the asset is given below:
Book value of assets given up = $72,000
Add : cash paid in exchange. $24,000
Amount recorded as an asset should be $96,000
We simply added the book value and the cash paid amount for an exchange
Therefore the amount that should be recorded as the asset is $96,000
Kluber, Inc. had net income of $911,000 based on variable costing. Beginning and ending inventories were 56,100 units and 54,200 units, respectively. Assume the fixed overhead per unit was $1.80 for both the beginning and ending inventory. What is net income under absorption costing?
a. $811,730
b. $904,160
c. $1,010,270
d. $907,580
e. $911,000
Answer:
Net operating income (absorption)= $907,580
Explanation:
Giving the following information:
Fixed overhead per unit= $1.80
Net income= $911,000 (variable costing)
Beginning inventory= 56,100 units
Ending inventory= 54,200 units
Under absorption costing, fixed manufacturing overhead is a product cost. We need to incorporate into the cost of goods sold the fixed overhead from beginning inventory and deduct the fixed overhead allocated into ending inventory.
Net operating income= 911,000
Less:
Fixed overhead beginning inventory= (1.8*56,100)
Add:
Fixed overhead ending inventory= (1.8*54,200)
Net operating income (absorption)= $907,580
o What’s the Difference Between Non-Formal and Informal Learning
Answer:
I hope this will help you
The ultimate goal of contract damages is: Multiple Choice Put the nonbreaching party where it was before the contract was formed. Return any costs incurred by the nonbreaching party. Put the nonbreaching party where it was prior to breach. Put the nonbreaching party in the best position possible. Give the nonbreaching party the benefit of its bargain.
Answer:
Give the nonbreaching party the benefit of its bargain.
Explanation:
A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.
There are different types of contract in business and these includes: fixed-price contract, cost-plus contract, bilateral contract, implies contract, unilateral contract, adhesion contract, unconscionable contract, option contract, express contract, executory contract, etc.
Mutual assent is a legal term which represents an agreement by both parties to a contract. When two parties to a contract both have an understanding of the parameters, terms and conditions surrounding a contract, it ultimately implies that they are in agreement; this is generally referred to as mutual assent.
In contract law, damages can be defined as an amount of money that is paid to a claimant (innocent party) as a compensation for a breach of contractual agreement and it's based on the amount of interest he or she has vested in the contract. Thus, it covers the incurred by the nonbreaching party (claimant or innocent party) due to a breach of contract by the other party.
Hence, the ultimate goal of contract damages is to give the nonbreaching party the benefit of its bargain.
9 Given figures showing: Sales £8,200, Opening inventory £1,300, Closing inventory £900, Purchases £6,400, Carriage inwards £200, the cost of goods sold figure is (A) £6,800 (B) £6,200 (C) £7,000 (D) Another figure
Explanation:
the correct answer is
B)£6,200
The following production data were taken from the records of the Finishing Department for June: Inventory in process, June 1 (35% completed) 5,000 units Completed units during June 64,500 units Ending inventory (63% complete) 4,400 units What is the number of material equivalent units of production in the June 30, Finishing Department inventory, assuming that the first-in, first-out method is used to cost inventories and materials were added at the beginning of the process?
a. 4,400 units
b. 59,500 units
c. 68,900 units
d. 63,900 units
Answer:
d. 63,900 units
Explanation:
Particulars Unit
Beginning inventory -
Units started and completed 59,500 [64,500 - 5,000]
Closing WIP for materials 4,400
Equivalent units for materials 63,900
So, the number of material equivalent units of production in the June 30, Finishing Department inventory is 63,900 units
WHAT ARE THE NEW LINKEDIN LIMITS?
Answer:
100 invites per week.
The new invite limits have been introduced by LinkedIn according to which you can’t send more than 100 invites per week. When you have reached the limit, a notification will pop up saying you’ve reached weekly limits.
You can’t do anything about it until the new week starts and the weekly limit resets.
Thomlin Company forecasts that total overhead for the current year will be $12,300,000 with 150,000 total machine hours. Year to date, the actual overhead is $8,270,500, and the actual machine hours are 97,300 hours. If Thomlin Company uses a predetermined overhead rate based on machine hours for applying overhead, as of this point in time (year to date), the overhead is a.$291,900 overapplied b.$291,900 underapplied c.$158,100 overapplied d.$158,100 underapplied
Answer:
b. $291,900 underapplied
Explanation:
With regards to the above information, we will calculate the predetermined overhead rate first.
Predetermined overhead rate = Estimated total overhead / Total machine hours
= $12,300,000 / 150,000
= $82 per machine hours
Total overhead = Predetermined overhead rate × Actual total machine hours
= $82 × 97,300
= $9,798,600
Then,
Overhead = Total overhead - Actual overhead
= $9,798,600 - $8,270,500
= $291,900 underapplied
