Answer:
b. 30%
Explanation:
The computation of the percentage increased in sales from the previous year to the current year is shown below:
= (Current year Sale - Preceding year Sale) ÷ (Preceding year Sale )
= ($325,000 - $250,000) ÷ ($250,000)
= ($75,000) ÷ ($250,000)
= 30%
Hence, the correct option is b. 30%
We simply applied the above formula to determine the percentage increased in sales
The percentage that increased in sales from the preceding year to the current year is 30%. The correct option is b.
The computation of the percentage increased in sales from the previous year to the current year is shown below:
=(Current year Sale - Preceding year Sale) (Preceding year Sale)
=($325,000-$250,000)÷ ($250,000)
=($75,000)÷ ($250,000)
=30%
A sale is a transaction that involves the exchange of services or goods for a specific sum of money. In other terms, a sale is any activity that involves transferring ownership of a good or commodity to the buyer in exchange for a monetary price.
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Exercise 8-16 Disposal of assets LO P2 Diaz Company owns a milling machine that cost $250,000 and has accumulated depreciation of $182,000. Prepare the entry to record the disposal of the milling machine on January 3 in each of the following independent situations. The machine needed extensive repairs, and it was not worth repairing. Diaz disposed of the machine, receiving nothing in return. Diaz sold the machine for $35,000 cash. Diaz sold the machine for $68,000 cash. Diaz sold the machine for $80,000 cash.
Answer and Explanation:
The Journal entry is shown below:-
1. Cash Dr, $0
Accumulated Depreciation-Machinery Dr, $182,000
Loss on Disposal of Machinery Dr, $68,000
To Machinery $250,000
(Being Equipment disposed is recorded)
2. Cash Dr, $35,000
Accumulated Depreciation Dr, $182,000
Loss on sale of Machinery Dr, $33,000
To Equipment $250,000
(Being Equipment sold is recorded)
3. Cash Dr, $68,000
Accumulated Depreciation Dr, $182,000
To Equipment $250,000
(Being Equipment sold is recorded)
4. Cash Dr, $80,000
Accumulated Depreciation Dr, $182,000
To Gain on sale of equipment $12,000
To Equipment $250,000
(Being Equipment sold is recorded)
Suppose that in a month the price of oranges increases from $.75 to $1. At the same time, the quantity of oranges demanded decreases from 100 to 80. The price elasticity of demand for oranges (calculated using the initial value formula, also known as the simple elasticity formula) is:_______A 0.6. B. 0.75. C. 025. D. 20.
Answer:
Option A is correct
Price elasticity of demand =0.6
Explanation:
Price elasticity of demand (PED) is the degree of responsiveness of demand to a change in price.
Where a percentage change in price produces a more than a proportional change in quantity, we say the product is price elastic. On the other hand, where a change in price produces a less than a proportional change in quantity demand, then demand is price inelastic
PED is computed as follows:
PED = % change in quantity /% change in Price
% change in demand = (100-80)/100 × 100 = 20%
% change in price =(0.75-1)/0.75 × 100 = 33.33%
PED = 20%/33.33% = 0.600
Price elasticity of demand =0.6
Hudson Corp. operates several factories that manufacture medical equipment. The factories have a historical cost of $200 million. Near the end of the company’s fiscal year, a change in business climate related to a competitor’s innovative products indicated to Hudson’s management that the $170 million carrying amount of the assets of one of Hudson’s factories may not be recoverable. Management identified cash flows from this factory and estimated that the undiscounted future cash flows over the remaining useful life of the factory would be $150 million. The fair value of the factory’s assets is reliably estimated to be $135 million. The change in business climate requires investigation of possible impairment. Which of the following amounts is the impairment loss?
A) $15 million.
B) $20 million.
C) $35 million.
D) $65 million.
Answer:
C) $35 million.
Explanation:
The computation of the impairment loss is shown below:
= Carrying amount of the assets - fair value of the factory assets
= $170 million - $135 million
= $35 million
Since the carrying amount exceeds the fair value of the asset so the impairment loss is recorded and hence the same is to be considered.
Hence, the correct option is c.
Basics Test - English EXIT PREVIOUS Paul is setting up a marketing/sales event at a community center where he is going to discuss UnitedHealthcare Medicare Advantage plans. He has placed a UnitedHealthcare logo pen ($3 value), Clarity consumer workbook, and an Enrollment Guide at each seat. What, if anything, has Paul done wrong
Answer:
What Paul has done wrong is to place these marketing materials on seats. He should devised a plan to give out these materials at the registration point where participants would be registered and then they would collect the items. By placing them on the seats, some of the participants could collect more than one, especially the valuable pen that is worth $3 each.
Explanation:
Marketing materials cost the entity some funds to produce. They should not be wasted. In addition, the number of participants with some details like names and contact information should be captured for future marketing efforts. Allowing participants to have free access to the marketing materials that cost so much without driving any potential customer list is not prudent.
For February, the cost components of a picture frame include $0.45 for the glass, $0.68 for the wooden frame, and $0.95 for assembly. The assembly desk and tools cost $500. Two hundred fifty frames are expected to be produced in the coming year. What cost function best represents these costs?
Answer: C(x) = 2.08 + 500x
Explanation:
Given the following :
Cost component of picture frame :
Glass = $0.45
Wooden frame = $0.68
Assembly = $0.95
Assembly desk and tools = $500
Using the linear cost function :
C(x) = mx + b
C(x) = total cost
b = fixed cost
mx = variable cost
b = cost of glass + wooden frame + assembly
b = $(0.45 + 0.68 + 0.95) =$2.08
mx = (cost of assembly desk and tools * number produced) = 500x
C(x) = 2.08 + 500x
On Monday, the seller offers to sell his vacant lot to the buyer for $42,000. On Tuesday, the buyer counteroffers to buy for $40,500. On Friday, the buyer learns that several other prospects may be making offers on the property, so he withdraws the counteroffer and agrees to the original asking price of $42,000. Under these conditions, there is
Answer:
b. not a valid agreement because the buyer's counteroffer was a rejection of the seller's offer, and once rejected, an offer cannot be accepted later.
Explanation:
Since in the question it is mentioned that the vacant lot is offered for $42,000 but the buyer counteroffers to buy $40,500 but afterward he agreed to the original price of $42,000
So this situation represents that it is not a valid agreement as the counteroffer made by the buyer was rejected by the seller and once it is rejected then the same could not be accepted
Therefore the correct option is b.
The HR department at Trevor Communications oversees the recruitment and training of employees at the firm.As the firm grows and recruits more employees,overseeing individual training programs has been come too much for HR staff to handle.Which of the following applications should the HR department use to help with employee training?A) A customer relationship management systemB) A management information systemC) A learning management systemD) A decision support systemE) An executive decision-making system
Answer:
C) A learning management system
Explanation:
Analyzing the above scenario, it is clear that the learning management system would be very useful to the HR department at Trevor Communications.
This system can be defined as a learning process that takes place in a virtual way, in an environment where each individual can access learning content in an interactive and dynamic way, by accessing a tool that contains the content and information necessary for specific learning.
This system confers several advantages to the organization, such as the elimination of personnel costs, greater ease of monitoring and follow-up, greater availability, ease of implementation and evaluation.
Sam entered into a contract to sell his home to Gina. After the inspection, Gina insisted that Sam replace the damaged roof. Sam refused, and the parties agreed to cancel the deal. This is an example of ______.
Answer:
Mutually rescinding the contract.
Explanation:
In this scenario, Sam entered into a contract to sell his home to Gina. After the inspection, Gina insisted that Sam replace the damaged roof. However, Sam refused, and the parties agreed to cancel the deal. This is an example of Mutually rescinding the contract.
Mutually rescinding a contract refers to the act of annulment of a contract, by discharging or relieving both parties in the contract of their obligation by reaching an agreement after the execution of an original contract agreement.
Simply stated, it avails two parties in a contract, the opportunity and privilege to cancel or annul the contract by relieving them of their contractual obligations.
A company has bonds outstanding with a par value of $100,000. The unamortized discount on these bonds is $4,500. The company retired these bonds by buying them on the open market at 97. What is the gain or loss on this retirement
Answer:
$1,500 loss
Explanation:
Calculation for the gain or loss on this retirement
First step is to find the 97% of the bond outstanding $100,000
Par value of bond=97%*$100,000
Par value of bond=$3,000
Second step is to calculate for the gain or loss on the retirement using this formula
Carrying value of bond=Par value of bond-Unamortized discount on bond
Let plug in the formula
Carrying value of bond=$3,000-$4,500
Carrying value of bond= -$1,500
Therefore the loss on this retirement will be $1,500
Complete the sentence. An increase in labor productivity ______. A. increases the supply of labor, increases potential GDP, and decreases potential GDP per hour of labor B. increases potential GDP and decreases potential GDP per hour of labor C. decreases the real wage rate, increases potential GDP, and increases potential GDP per hour of labor D. shifts the demand for labor curve rightward and the production function upward
Answer:
The correct answer is
Explanation:
increases potential GDP.
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An increase in labor productivity decreases the real wage rate, increases potential GDP, and increases potential GDP per hour of labor. Thus, option (c) is correct.
What is GDP?The gross domestic product (GDP) of a nation over a certain time period captures the monetary value of all final goods and services, those purchased by the consumer, that are produced there. The every country economic indicator was the depend on the measurement of Gross domestic product.
According to the economist, the increase in labor productivity was the automatically increases the demand of the labour. The number of the hours in the labour was the also increased. It was the increases in the potential GDP per hour of labor. But, the drawback is decreasing the real wage rate.
As a result, the significance of the GDP are the aforementioned. Therefore, option (c) is correct.
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Goal setting is most effective when: 1 point A. goals are measured in quantitative, qualitative, and cost terms. B. the goals do not stretch the employee's abilities and motivation. C. the goal statements are general rather than specific. D. the intensity of employee effort is minimal. E. it does not compel people to increase the persistence of their work effort.
Answer:
A. goals are measured in quantitative, qualitative, and cost terms.
Explanation:
Goal setting is the most important part of any organization as it needs to meet the target timely. It is also the part of motivating the employees so that they accomplish the company target. Goals setting can also be measured quantitative, qualitative, and cost terms as an organization want to compete with other brands.
Therefore as per the above description, the correct answer is a
Entrepreneurial opportunities Group of answer choices are conditions in which new goods or services can satisfy a need in the market. are conditions contrary to a firm"s established strategy and segments served. present risk to the firm and should be avoided. present the potential for a firm to leverage existing products or services into new markets.
Answer:
Option A would be the correct choice.
Explanation:
These would be generally characterized as circumstances where commodities could be offered at that same slightly higher price than certain manufacturing costs. This is indeed a condition in which businessmen will operate to make massive profits.
There seem to be certainly profit-making circumstances:
There have been plenty of companies that are making profits.Even though policymakers described it.Manipulating information asymmetries.Some other options in question aren't relevant to the particular circumstance. And option A is the right one.
"A customer's short margin account shows the following balances: Credit Balance: $120,000 SMV: $60,000 SMA: $30,000 What would the adjusted SMA balance be in the account after a short cover of 100 shares of MMM stock at $100 in the account?"
Answer:
$35,000
Explanation:
Calculation for adjusted SMA balance .
First step
Short cover =100 Shares × MMM stock $100
=$10,000
Second step is to find the 50% of the amount of $10,000
50%×$10,000
=$5,000
Third step is to calculate for adjusted SMA balance
Adjusted SMA balance=$SMA $30,000 +$5,000
Adjusted SMA balance=$35,000
Therefore the Adjusted SMA balance will be $35,000
A company has revenues of $1,250,000 with a net profit margin of 10%. If the depreciation for the year is $75,000, short-term investments decreased by $15,000, accounts receivable increased by $10,000, inventory decreased by $5,000 and accounts payable decreased by $6,000, what is the net cash provided by operations.
Answer:
$204,000
Explanation:
The computation of net cash provided by operations is shown below
Cash flow from operating activities
Net profit ($1,250,000 × 10%) $125,000
Add: depreciation expense $75,000
Add: Decrease in short term investment $15,000
Less: Increase in account receivable -$10,000
Add: Decrease in inventory $5,000
Less: Decrease in account payable -$6,000
Net Cash provided by operations $204,000
The minus sign depicts the cash outflow and the positive sign depict the cash inflow
Becker Industries is considering an all equity capital structure against one with both debt and equity. The all equity capital structure would consist of 30,000 shares of stock. The debt and equity option would consist of 15,000 shares of stock plus $255,000 of debt with an interest rate of 8 percent. What is the break-even level of earnings before interest and taxes between these two options
Answer:
The break-even level of earnings before interest and taxes is $47,200
Explanation:
EBIT = Earnings before interest and taxes
EPS = Earnings per share
I = interest
n = number of equity shares
n1, n2 = number of equity shares outstanding after adopting financing plans 1 and 2
n1=30,000
n2= 15,000
Break-even EBIT level is the indifferent point where EPS under alternative financing plan is the same.
Mathematically, the break-even EBIT level is: EBIT/ n1 = (EBIT - I ) / n2
EBIT/30,000 =(EBIT -295,000 x 8%/ 15,000)
EBIT/2 = EBIT - 23,600
2*EBIT - 23,600 x 2 = EBIT
2EBIT - EBIT= 47,200
EBIT= $47,200
When Brandon decided he needed a new car, he immediately called his old college roommate, who owns a BMW dealership, to ask questions about options and financing. Brandon was searching for information from Group of answer choices
Answer:
external source
Explanation:
In this specific scenario, Brandon was searching for information from an external source. In this case, Brandon's friend is the external source of information, because he is someone from the outside that is capable of providing Brandon with the information that he needs and why Brandon reached out for that information. Internal Information would be information that comes from Brandon's own memories.
A key process topic that should be part of early discussions regarding ground rules is appropriate decision making and problem solving, ensuring that the project manager and core team understand who makes each type of decision and how those decisions are made.
a. True
b. False
Answer: true
Explanation:
From the question, we are informed that a key process topic that should be part of early discussions regarding ground rules is appropriate decision making and problem solving, ensuring that the project manager and core team understand who makes each type of decision and how those decisions are made.
This is true. It should be noted that for a project manager to achieve his or her goals, the person must be a problem solver and have what it entails to succeed.
Bakery A sells bread for $2 per loaf that costs $0.50 per loaf to make. Bakery A gives a 70% discount for its bread at the end of the day. What is the salvage value of its bread? $2.00 $0.10 $0.50 $0.60
Answer:
Salvage value = $0.60
Explanation:
Selling Price = $2 per loaf
Discount on price = 70%
So, salvage percentage is 100% -70% = 30%
So, Salvage value = Salvage/Percentage * Selling price
Salvage value = 30/100 * $
Salvage value = $0.60
Coda Inc. is an apparel manufacturer. The management at Coda prefers moderate control over the operations of the different departments such as R&D, design, marketing, and sales. It allocates a budget to each function at the beginning of each quarter. This is an example of implementing control through _____.
Answer: input control
Explanation:
From the question, we are informed that Coda Inc. is an apparel manufacturer and that the management at Coda prefers moderate control over the operations of the different departments such as R&D, design, marketing, and sales.
We are further told that it allocates a budget to each function at the beginning of each quarter. This is an example of implementing input control.
An auditor's report includes the following statement: "The financial statements referred to above do not present fairly the financial position, results of operations, or cash flows in conformity with U.S. generally accepted accounting principles." This auditor's report was most likely issued in connection with financial statements that are
Answer:
The answer is misleading or not free from material misstatement
Explanation:
When a financial statement is misleading or not free from material misstatement, an auditor issued a qualified report. This qualified report tells the users of the financial statement that something is wrong.
Material misstatement refers to an error in the financial statement that if omitted, it will affect the decision of the users.
If a financial statement is free from error or material misstatement, an auditor will issue unqualified report.
A company is considering replacing an old machine, which has a market value of $75,000 and a tax basis of $50,000. The new machine would cost $145,000 and would require an additional $12,000 in working capital for spare parts. If the company’s tax rate is 34%, what would be the initial cash outlay for this replacement project?
Answer:
$90,500
Explanation:
The computation of initial cash outlay is shown below:-
initial cash outlay = New machine cost + Increase in working capital - After tax salvage value
= $145,000 + $12,000 - (($75,000 - ($75,000 - $50,000) × 0.34
= $145,000 + $12,000 - $66,500
= $90,500
Therefore for computing the initial cash outlay we simply applied the above formula.
Which of the following statements is FALSE? A. Investments with higher volatility have rewarded investors with higher average returns. B. Volatility seems to be a reasonable measure of risk when evaluating returns on large portfolios and the returns of individual securities. C. Riskier investments must offer investors higher average returns to compensate them for the extra risk they are taking on. D. Investments with higher volatility should have a higher risk premium and, therefore, higher returns.
Answer: B. Volatility seems to be a reasonable measure of risk when evaluating returns on large portfolios and the returns of individual securities.
Explanation: Over time, investment with high degree of volatility, which refers to the rapid unpredictability associated with the price or value of an investment seems to have ditched out higher returns and risk premium on those investment to investors in other to reward them for making such unpredictable investment. This said, the risk associated with an investment plays a huge factor in determining the average return issued to investors as higher risk investment attracts higher returns. However, when evaluating large portfolios and return of individual securities, volatility such not be used as a reasonable determinant of the risk associated with such investment as the large portfolios and individual securities are usually prone to unpredictability which should not be translated to the probability that such investment will result in loss of capital.
A group consists of key representatives from all departments in the product development process, such as marketing, sales, finance, and manufacturing. These core members have primary responsibility for the product, with supporting resources as needed. This is an example of a(n) self-managed team. cross-functional team. flexible workforce. extended team. CRM team.
Answer:
self-managed team
Explanation:
The self-managed team is a team of people who are working in a group belonging from different specialization that is responsible and accountable with respect to the product production and service delivering
Here, in the given question it is mentioned that the core members have responsibility for the product or the resources required
Therefore the first option is correct
Wealth generating activities always:
a. produce positive externalities to society
b. produce gains for one party
c. increase wealth for everyone
d. Increase total surplus
Answer:
d. increase total surplus
Explanation:
Wealth generating activities always increase total surplus.
Surplus occurs when the available resources, goods, assets, etc., exceeds what is currently used. In other words, it simply means when supply exceeds demand.
Wealth creating activities makes wealth almost in every hand, thereby an increase in total surplus occurs. If wealth creating activities occur in manufacturing, it leads more companies to produce more, thereby total surplus in production occurs.
Integrated marketing communications: Group of answer choices provide an approach to deliver one consistent message. budget the promotional efforts related to a product. measure the number of people exposed to a message. measure how often people are exposed to a message. measure how receivers interpret messages.
Answer:
provide an approach to deliver one consistent message
Explanation:
Integrated marketing communications is a concept in which a company tries to make sure that all the forms of communications that are used are integrated to help one another and maintain a consistent message through the different channels used. According to this, the answer is that integrated marketing communications provide an approach to deliver one consistent message because the idea of this concept is that the company integrates all the forms of communications used to have a cohesive message to reach its target market.
All of the following are reasons that the statement of cash flows is useful to the analyst except: A. The statement of cash flows shows how cash is generated during an accounting period and how it has been used. B. A positive net income figure on the income statement is ultimately insignificant unless a company can translate its earnings into cash, and the only source in financial statements for learning about cash generation is the statement of cash flows. C. The statement of cash flows shows the adjustments made to net income in order to calculate cash flow from operations; those should be examined to determine why cash flow from operations is negative or positive. D. The statement of cash flows is the only financial statement that cannot be manipulated.
Answer: The statement of cash flows is the only financial statement that cannot be manipulated
Explanation:
The cash flow statement is used to know how much cash is coming into and going out of a business.
The statement of cash flows shows the adjustments that can be made to the net income to calculate cash flow from operations.
The assumption that the statement of cash flows is the only financial statement that cannot be manipulated is wrong.
The statement of cash flows is the only financial statement that cannot be manipulated is not reason that the statement of cash flows is useful to the analyst.
Cash flow statements are important for all investors, which makes financial analysts increase the inflow of cash flow so that it looks good for investors and becomes confident in the business.
Therefore, cash flow is essential in providing cash availability its inflow and outflow to accountants as well as analysts that is further used for developing income statements.
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The ending retained earnings balance of the Taco Heaven restaurant chain increased by $2.6 million from the beginning of the year. The company had declared a dividend of $1.5 million. What was the net income earned during the year
Answer: $4.1 million
Explanation:
From the question, we are informed that the ending retained earnings balance of the Taco Heaven restaurant chain increased by $2.6 million from the beginning of the year and that the company had declared a dividend of $1.5 million.
The net income earned during the year will be:
= $2.6 million + $1.5 million
= $4.1 million
Which of the following would be an example of direct finance? Group of answer choices A saver deposits money into a credit union. A saver buys a bond a corporation has just issued so it can purchase capital. None of the above is correct. A saver buys shares in a mutual fund.
Answer:
A saver buys a bond a corporation has just issued so it can purchase capital.
Explanation:
Direct finance is the process of financing in which the borrower borrows thd fund directly from the financial institution without involving the third party i.e intermediate, broker, etc
In the question, the option b is correct as it derives that a saver could purchase a bond since the corporation issued it so the capital could be purchased
hence, the second option is correct
Answer:
A saver buys a bond a corporation has just issued so it can purchase capital.
Explanation:
ABC Furniture Company wishes to raise capital by issuing some securities in its home state. The CEO of the company feels that registration with the Administrator is unnecessary because the issue is exempt. Should ABC be ordered to appear at a hearing, the burden of proving its issue is exempt is on
Answer: The company
Explanation: The burden of proving the exemption issued by the CEO of ABC furniture should ABC be issued to appear at an hearing in other to defend its stance on the exemption issued will be on the company. Even though the the exemption was made by the Chief Executive Officer of the company. The burden of proof lies on the shoulder of the corporation which requests for the exemption and not the individual who make the exemption request on behalf of the corporation which is the corporation's CEO and not the Administrator on which exemption was made. Thus proving the legality of an exemption always rests on the shoulder of the requesting corporation.
A manger is described by subordinates as someone who inspires hard work by treating people kindly and giving employees individual attention and praise. What type of power is being used by the manager? Coercive Expert Referent Legitimate
Answer:
Referent
Explanation:
The referent power refers to the power in which the employees capacity, capability, skills and knowledge, hard work being liked by the other employees. Ths could be gained from the leadership skills and personality
So according to the given question since the manager described by subordinates through inspiring hard work by giving them attention and praise
This represents the referent power
