Best Deals, Inc. has 10 units in ending merchandise inventory on December 31. The units were purchased in November for $160 each. The price lists from suppliers indicate the current replacement cost of the item to be $162 each. What would be the amount reported as Merchandise Inventory on the balance sheet?

A. $1,600

B. $3,220

C. $322

D. $1,620

Answers

Answer 1

Answer:

$1,600

Explanation:

Best deals incorporation has a total of 10 units in the ending merchandise inventory on December 31

The units were bought in the month of November at a price of $160 for each unit

The replacement cost of the item is $162

Inventory is always recorded when the cost is low

Therefore, the amount that is to be reported as the merchandise inventory can be calculated as follows

=10 units × $160

= $1,600

Hence the amount reported as the merchandise inventory on the balance sheet is $1,600


Related Questions

Andy Pearson ran PepsiCo Inc. for nearly 15 years, driving revenues from $1 billion to $8 billion. In 1980, Fortune named him one of the 10 toughest bosses in the United States. Pearson was singled out for the relentless demands that he put on his people. As one employee put it, Pearson's talents were often "brutally abrasive." Every year, without hesitation, he fired the least productive 10% to 20% of his workforce. Pearson used a(n) _____ leadership style.

Answers

Answer:

authoritarian leadership style

Explanation:

In simple words, An authoritarian form of leadership relates to the leadership style  where a leader determines strategies and practices, defines what objectives are to be accomplished, and manages and monitors all operations without substantive involvement by subordinates. An authoritative style of management can be highly successful in some cases, but also has negative consequences on community participants or staff.

Kenton and Denton Universities offer executive training courses to corporate clients. Kenton pays its instructors $6,405 per course taught. Denton pays its instructors $305 per student enrolled in the class. Both universities charge executives a $349 tuition fee per course attended.
A. Prepare income statements tor Kenton and Lenton, assuming that 21 students athend a course.
B. Kenton University embark on a strategy to entice students from Denton University by lowering its tuition to $240 per course. Prepare an income statement for Kenton assuming that the university is successful and enrolls 40 students in its course.
C. Denton University embarks on a strategy to entice students from Kenton University by lowering its tuition to $240 per course. Prepare an income statement for Denton, assuming that the university is successful and enrolls 40 students in its course.
D. Prepare income statements for Kenton and Denton Universities, assuming that 10 students attend a course, and assuming that both universities charge executives a $450 tuition fee per course attended.

Answers

Answer:

Kenton and Denton Universities

A. Income Statements

                                    Kenton        Denton

Tuition Revenue         $7,329       $7,329

Instructors' Salaries     6,405         6,405

Net Income                   $924          $924

B. Kenton University embark on a strategy to entice students from Denton University by lowering its tuition to $240 per course.

Income Statement for Kenton University:

Tuition Revenue         $9,600

Instructors' Salaries     6,405

Net Income                 $3,195

C. Denton University embarks on a strategy to entice students from Kenton University by lowering its tuition to $240 per course.

Income Statement for Denton University:

Tuition Revenue         $9,600

Instructors' Salaries    12,200

Net Income (Loss)    ($2,600)

D. Income Statement for Kenton and Denton Universities:

                                    Kenton        Denton

Tuition Revenue         $4,500       $4,500

Instructors' Salaries     6,405          3,050

Net Income/(Loss)     ($1,905)       $1,450

Explanation:

a) Data and Calculations:

Kenton University:

Salaries to instructors per course = $6,405

Tuition fee per course = $349

Denton University:

Salaries to instructors per student = $305

Tuition fee per course = $349

b) Kenton and Denton Universities' costs are determined by their nature based on whether they are fixed or variable.  These costs also determine the level of net income to be recorded by each university.

Vertical Analysis of Income Statement Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows: Current Year Previous Year Sales $4,000,000 $3,600,000 Cost of goods sold 2,280,000 1,872,000 Selling expenses 600,000 648,000 Administrative expenses 520,000 360,000 Income tax expense 240,000 216,000 a. Prepare an income statement in comparative form, stating each item for both years as a percent of sales. Round to the nearest whole percentage. Innovation Quarter Inc. Comparative Income Statement For the Years Ended December 31 Current year Amount Current year Percent Previous year Amount Previous year Percent Sales $4,000,000 % $3,600,000 % Cost of goods sold (2,280,000) % (1,872,000) % $ % $ % Selling expenses $(600,000) % $(648,000) % Administrative expenses (520,000) % (360,000) % $ % $ % $ % $ % Income tax expense (240,000) % (216,000) % $ % $ % b. The vertical analysis indicates that the cost of goods sold as a percent of sales by 5 percentage points, while selling expenses by 3 percentage points, and administrative expenses by 3 percentage points. Thus, net income as a percent of sales by 5 percentage points.

Answers

Answer:

Innovation Quarter Inc.

a) Comparative Vertical Analysis of Income Statement

                                          Current Year     %         Previous Year     %

Sales                                  $4,000,000   100%      $3,600,000     100%

Cost of goods sold              2,280,000    57%         1,872,000      52%

Gross profit                         $1,720,000    43%       $1,728,000      48%

Selling expenses                    600,000     15%          648,000        18%

Administrative expenses       520,000     13%          360,000        10%

Income tax expense              240,000       6%           216,000         6%

After Tax Income                 $360,000       9%       $504,000         14%

b. The vertical analysis indicates that the cost of goods sold as a percent of sales increased by 5 percentage points, while selling expenses decreased by 3 percentage points, and administrative expenses increased by 3 percentage points. Thus, net income as a percent of sales decreased by 5 percentage points.

Explanation:

Data and Calculations:

Vertical Analysis of Income Statement Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows:

                                                Current Year         Previous Year

Sales                                        $4,000,000            $3,600,000

Cost of goods sold                    2,280,000               1,872,000

Selling expenses                          600,000                648,000

Administrative expenses             520,000                360,000

Income tax expense                    240,000                 216,000

Innovation Quarter Inc. can use this vertical analysis to express the relationship between each line item and the sales revenue.  The vertical analysis helps in ascertaining the percentage increases in each variable.  With the analysis, the management of Innovation Quarter Inc. can undertake further investigations to learn the causes of the different performances and learn ways to control them.

The ending finished goods inventory for each month equals 50% of next month's sales in units . How many units must be produced in February?

Answers

Answer: 15,751.5 units

Explanation:

Units produced in February are calculated as;

Units Produced = Ending Finished goods - Beginning Finished goods + Budgeted Sales

Ending finished goods inventory for each month equals 50% of next month's sales in units.

Ending finished goods for February

= 50% * 15,581

= 7,790.5‬ units

Ending finished goods for January is beginning for February

= 50% * 15,922

= 7,961

Units Produced = Ending Finished goods - Beginning Finished goods + Budgeted Sales

= 7,790.5‬ -  7,961 + 15,922

= 15,751.5 units

If a company uses straight-line depreciation, the annual average investment can be calculated as: (Check all that apply.)

Answers

Answer: beg book value +the salvage value) / 2.

(the sum of annual average book values) ÷ asset’s life

(beg book value +the end book value) ÷ 2.

Explanation:

Depreciation is simply when an asset begin to wear and tear and thereby its value is reduced.Straight line depreciation is calculated when the difference between the cost of an asset and the expected salvage value is divided by the number of years it is projected to be used.

Using this method, the annual average investment can be calculated as:

• beg book value +the salvage value) / 2.

• (the sum of annual average book values) ÷ asset’s life

• (beg book value +the end book value) ÷ 2.

In the _____ stage of the product life cycle, competition intensifies and profits diminish. Companies increase their promotional efforts but emphasize selective demand.

Answers

Answer: maturity

Explanation:

The product life cycle is the time used by a product from the day the product is introduced into the market till the day it's withdrawn. The four stages of the product life cycle are the introduction stage, the growth, the maturity stage and finally the decline stage.

In the maturity stage of the product life cycle, competition intensifies and profits diminish. Companies increase their promotional efforts but emphasize selective demand.

Fredo, Inc., purchased 10% of Sonny Enterprises for $1,000,000 on January 1, 2018. Sonny recognized a total of $340,000 net income during 2018, paid $24,000 of dividends to Fredo during 2018, and at December 31, 2018, the market value of the Sonny investment increased to $1,034,000. Required: Prepare the journal entries necessary to account for the Sonny investment, assuming that Fredo (1) lacks significant influence or (2) has significant influence over the operating and financial policies of the investee.
Required 1
Record the entry for investment in Sonny Enterprises.
Record the entry for cash dividend received.
Record the net unrealized holding gain or loss for an available-for-sale investment.
Required 2:
Record the entry for investment in Sonny Enterprises.
Record the revenue from Sonny Enterprise during 2018.
Record the receipt of dividend during 2018.

Answers

Answer and Explanation:

The Journal entry is shown below:-

As per requirement 1

1. Investment in Sonny Enterprises Dr, $1,000,000

            To Cash $1,000,000

(Being investment is recorded)

2. Cash Dr, $24,000

          To Dividend revenue $24,000

(Being cash dividend received is recorded)

3. Fair value adjustment Dr, $34,000

            To Unrealized holding gain or loss - OCI $34,000

(Being investment at fair value is recorded)

As per requirement 2

1. Investment in Sonny Enterprises Dr, $1,000,000

           To Cash $1,000,000

(Being investment is recorded)

2. Investment in Sonny Enterprises Dr, $34,000

        To Investment Income $34,000 ($340,000 × 10%)

(Being revenue from Sonny is recorded)

3. Cash Dr, $24,000

            To Investment in Sonny Enterprises $24,000

(Being the receipt of dividend is recorded)

​What is the relationship between total surplus and economic efficiency?

Answers

Answer: When total surplus gets maximized, then economy meet economic efficiency.

Explanation:

Economic efficiency is described as a thinking that there is one possible way to make situation better by imposing a cost on another.

Total surplus is described as the sum of producer and consumer surplus.

It gets maximized in a perfect competition (hit free-market equilibrium).

i.e. It gets maximized when both consumer and producer surplus is maximum, and then the economy meet economic efficiency.

All firms, no matter the type of firm structure in which they are producing, make their production decisions based on the point where their: Group of answer choices

Answers

Answer:

The answer is B.

Explanation:

The profit maximisation point is the point where marginal revenue equals marginal cost(MR = MC). At this point, total revenue is maximized.

Marginal revenue is the change in total revenue when additional units is sold or made while marginal cost is the change in total cost when additional unit of output is made.

When MR > MC, the firm is not manufacturing or producing enough goods and when MC > MR, it means the firm is manufacturing or producing too much and it is making loss with each additional production.

Moorcroft’s assistant controller suggested that Moorcroft hire a part time collector to encourage customers to pay more promptly and to reduce the amount of uncollectible accounts. Sales are still 40% cash and 60% credit but the assistant controller predicted that this would cause credit sales to be collected 30% in the month of the sale, 50% in the month following sale, and 18% in the second month following sale; 2% are uncollectible.Prepare a schedule of expected collections from customers for June. How did these changes impact cash collections?

Answers

Answer:

The budgeted sales are missing, so I looked for them. I found the following question, hopefully it will be similar:

Month        Sales

April           $300,000

May            $320,000

June           $370,000

Schedule of expected collections

For the month of June, 202x

Cash sales during June = $370,000 x 40% = $148,000

Collection from June's credit sales = $222,000 x 30% = $66,600

Collection from May's credit sales = $192,000 x 50% = $96,000

Collection from April's credit sales = $180,000 x 18% = $32,400

Total cash collections during June = $343,000

Since the cost of the part time collector is $1,000 per month, and the total uncollectible accounts reduce from 4% to 2%, which represents $7,400 for June's sales, I would recommend hiring the collector.

Richard Redden, the sole stockholder, contributed $71,000 in cash and land worth $132,000 in exchange for common stock to open a new business, RR Consulting. Which of the following general journal entries will RR Consulting make to record this transaction?
A. Debit Assets $203,000; credit Common Stock $203,000.
B. Debit Cash and Land, $203,000; credit Common Stock $203,000.
C. Debit cash $71,000; debit land $132,000; credit Common Stock $203,000.
D. Debit Common Stock $203,000; credit cash $71,000; credit Land $132,000.
E. Debit Common Stock $203,000; credit Assets $203,000.

Answers

Answer: C. Debit cash $71,000; debit land $132,000; credit Common Stock $203,000.

Explanation:

From the question, we are informed that Richard Redden, the sole stockholder, contributed $71,000 in cash and land worth $132,000 in exchange for common stock to open a new business, RR Consulting.

The journal entries will RR Consulting make to record this transaction will be:

Debit cash $71,000; debit land $132,000; credit Common Stock $203,000.

Answer:

C. Debit cash $71,000; debit land $132,000; credit Common Stock $203,000.

Explanation:

Recognize the Assets of Cash at $71,000, the Assets of Land at $132,000 and an Equity element - Common Stock at $203,000.

The journal entry will be as follows :

Cash $71,000 (debit)

Land $132,000 (debit)

Common Stock $203,000 (credit)

In the short run, the quantity of output that firms supply can deviate from the natural level of output if the actual price level in the economy deviates from the expected price level. Several theories explain how this might happen.

Answers

Answer: fall, reducing, fall below

Explanation:

the misperceptions theory asserts that changes in the price level can temporarily mislead firms about what is happening to their output prices. Consider a soybean farmer who expects a price level of 100 in the coming year. If the actual price level turns out to be 90, soybean prices will __________ , and if the farmer mistakenly assumes that the price of soybeans declined relative to other prices of goods and services, she will respond by __________ the quantity of soybeans supplied. If other producers in this economy mistake changes in the price level for changes in their relative prices, the unexpected decrease in the price level causes the quantity of output supplied to __________the natural level of output in the short run.

Derrick Iverson is a divisional manager for Holston Company. His annual pay raises are largely determined by his division’s return on investment (ROI), which has been above 20% each of the last three years. Derrick is considering a capital budgeting project that would require a $3,080,000 investment in equipment with a useful life of five years and no salvage value. Holston Company’s discount rate is 17%. The project would provide net operating income each year for five years as follows:

Sales $3,400,000
Variable expenses 1,450,000
Contribution margin 1,950,000
Fixed expenses:
Advertising, salaries, and other fixed
out-of-pocket costs $670,000
Depreciation 828,000
Total fixed expenses 1,498,000
Net operating income $452,000

Required:

a. Compute the project's net present value.
b. Compute the project's simple rate of return.
c. Would the company want Derrick to pursue this investment opportunity?
d. Would Derrick be inclined to pursue this investment opportunity?

Answers

Answer:

a. Project's net present value is $1,015,163.09

b. Simple rate of return is 15%

c. Yes. The reason is that the project has a positive net present value of $1,015,163.09.

d. No. The reason is that the simple rate of return of 15% obtained in part b is lower the division’s return on investment (ROI), which has been above 20% each of the last three years.

Explanation:

a. Compute the project's net present value.

To compute this, we first calculate the annual cash inflow as follows:

Annual cash inflow = Net operating income + Depreciation = $452,000 +  $828,000 = $1,,280,000

Now, the project's net present value can be calculated using the formula for calculating the present of an ordinary annuity as follows:

PV = P * [{1 - [1 / (1 + r)]^n} / r] …………………………………. (1)

Where;

PV = Present value of the annual cash flow = ?

P = Annual cash inflow = $1,280,000

r = Discount rate = 17%, or 0.17

n = Equipment useful years = 5

Substitute the values into equation (1) to have:

PV = $1,280,000 * [{1 - [1 / (1 + 0.17)]^5} / 0.17]

PV = $4,095,163.09

Project's net present value = PV - Project's initial investment = $4,095,163.09 - $3,080,000 = $1,015,163.09

b. Compute the project's simple rate of return

This can be computed as follows:

Simple rate of return = Net operating income / Initial investment =  $452,000 / $3,080,000 = 0.15, or 15%

c. Would the company want Derrick to pursue this investment opportunity?

Yes. The reason is that the project has a positive net present value of $1,015,163.09.

Note that had it been the net present value of the project was negative, the company would not want to Derrick to pursue this investment opportunity since the decision of the company is based on whether the project's NPV is positive or negative.

d. Would Derrick be inclined to pursue this investment opportunity?

No. The reason is that the simple rate of return of 15% obtained in part b is lower the division’s return on investment (ROI), which has been above 20% each of the last three years.

Pursuing this investment opportunity will therefore reduce the Overall ROI of the division and Derrick will not get annual pay raises if this happens.

If the domino effect occurs as a result of changes in the money supply, what will most likely happen as an immediate result of interest rates being increased? Borrowing will decrease. Investing will decrease. Inflation will increase. Liquidity will increase.

Answers

Answer:

The answer is: interest rates will decrease

Explanation:

Just got correct on edge

If there is an increase in the interest rate, then borrowing will decrease.

The term "domino effect" refers to the cumulative effect that is produced by one event that eventually leads to the same effect on others. In other words, the domino effect is when one disaster affects or brings destruction or disruption to others, leading to similar events.

One result will lead to a chain reaction in this event, affecting the rest of the cycle. This means that like one domino's downfall brings the next domino down, one destruction will lead to the fall of the next, taking the cycle to the end until all falls. In this scenario, if the interest rates are being increased, then it will lead to a decreased rate of borrowing. A change in the money supply will increase the interest rate. This will only leave the customers looking for a way out, which means there will be a lower rate of borrowing.

In a domino effect, one event will bring the fall of the other. Therefore, if the interest rates increase, there will only be more problems for the customers. This will leave them reducing or decreasing the borrowing rate in the market. Thus, the correct answer is the first option.

Learn more about "domino theory" here:

brainly.com/question/12039657

"Rihanna Company is considering purchasing new equipment for $379,200. It is expected that the equipment will produce net annual cash flows of $48,000 over its 10-year useful life. Annual depreciation will be $37,920. Compute the cash payback period. (Round answer to 1 decimal place, e.g. 10.5.)"

Answers

Answer:

Cash payback period is 7.9 years

Explanation:

Payback period = Initial investment / Cash inflow per period

=$379,200 / $48,000

=7.9 years

Thus, the cash payback period is 7.9 years.

Note: It is assumed that the net annual cash flows are after considering the annual depreciation.

An investment adviser representative (IAR) asks a customer for a loan of $5,000. The customer agrees, and both the customer and the IAR document the loan by signing a written agreement. Under the provisions of the Uniform Securities Act, the IAR:

Answers

Answer:

D. Has not committed an unethical act since the loan was documented in writing.

Explanation:

Section 102 of the Uniform Securities Act of 1956 specifies that it is unlawful and unethical for an investment adviser representative to enter into a contract with a client except it is provided in writing that he does not stand to gain any financial profit, that no assignment of the contract would be made without the consent of the other party, and that if there is any change in the membership of the contract, the other party would be notified.

So, if the contract was documented between the investment adviser and the client, then it would not be unethical conduct.

Colleen, an active union member, applies for a job at a company that her union has targeted so that she can start organizing efforts in favor of the union. She is also being paid by the union for her efforts. Which of the following practices is Colleen employing?a. Embeddingb. Saltingc. Corporate intelligence d. Subversion

Answers

Answer:

Correct Answer:

a. Embedding

Explanation:

Colleen could only be able to acquire the needed information about the company which her Union targets by applying to work in the company. The act of infusing herself with the company is called Embedding.

She would be able to be closer to other workers as well encourage them on the need to join the unions. This she could not be able to achieve if she was outside the company.

Three phenomena that tend to bias the expected completion time of projects are inflated time estimates, activity time variability with path interdependencies, and resource dependence.


a. True

b. False

Answers

Answer: True

Explanation:

The expected completion time of a project is determined when the duration of every activity that takes place on the critical path is established.

Three phenomena that tend to bias the expected completion time of projects are inflated time estimates, activity time variability with path interdependencies, and resource dependence.

​Keith, an employee of​ Sunbeam, Inc., has gross salary for May of​ $15,000. The entire amount is under the OASDI limit of​ $118,500 and thus subject to FICA. He is also subject to federal income tax at a rate of​ 20%. Which of the following is a part of the journal entry to record the disbursement of his net​ pay? (Assume a FICAOASDI Tax of​ 6.2% and FICAMedicare Tax of​ 1.45%.) (Round the final answer to the nearest​ dollar.)

Answers

Answer:

there are no options listed, but the journal entry to record Keith's salary should be:

May 31, wages expense

Dr Wages expense 15,000

Dr FICA taxes expense 1,147.50

Dr FUTA taxes expense 900

    Cr Federal income taxes withheld payable 3,000

    Cr FICA OASDI taxes withheld payable 930

    Cr FICA Medicare taxes withheld payable 217.50

    Cr FICA OASDI taxes payable 930

    Cr FICA Medicare taxes payable 217.50

    Cr Wages payable 10,852.50

I didn't include SUTA taxes or any other discount (e.g. health insurance, IRA contributions, union contributions, etc.) because sometimes they do not exist, but the previous ones always exist.

The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31: Rails Division Locomotive Division Corporate Total Cost of goods sold $45,500 $30,500 Direct operating expenses 27,600 23,000 Sales 92,300 67,600 Interest expense $2,100 General overhead 18,900 Income tax 4,000 The income from operations for the Locomotive Division is a.$44,600 b.$67,600 c.$14,100 d.$37,100

Answers

Answer:

$14,100

Explanation:

To find the answer, we use the following formula:

Income from operations = Sales - Cost of Goods Sold - Direct Operating Expenses - General Overhead

Income from operations = $67,600 - 30,500 - 23,000

                                        = $14,100

When you view a selection at Amazon and see "Customers who bought this (item) also bought ...," you are seeing the application of

Answers

Answer: collaborative filtering

Explanation:

Collaborative filtering is a technique thta helps to filter out the things that a user can like base on how other identical users react. Here, a small sample of the people with similar taste will be chosen from a larger group.

When you view a selection at Amazon and see "Customers who bought this (item) also bought ...," you are seeing the application of collaborative filtering.

The Silverside Company is considering investing in two alternative​ projects: Project 1 Project 2 Investment ​$400,000 ​$280,000 Useful life​ (years) 5 5 Estimated annual net cash inflows for useful life ​$90,000 ​$65,000 Residual value ​$25,000 ​$12,000 Depreciation method Straight−line Straight−line Required rate of return ​10% ​6% What is the payback period for Project​ 1?

Answers

Answer:

The Silverside Company

Project 1's Payback Period

= Initial Investment/Annual cash flows

= $400,000 / $90,000

= 4.44 years.

Explanation:

Project 1:

Initial Investment = $400,000

Useful life = 5 years

Annual cash inflows for useful life = $90,000

The Silverside Company's payback period calculates the time or number of years that it would take the company to recover from its initial investment in Project 1.  This is the simple payback period calculation.  There is also the discounted payback period calculation.  This method discounts the annual cash inflows to their present values before the calculation is carried out.  This second method gives a present value perspective on the issue.

Tatham Corporation produces a single product. The standard costs for one unit of its Clan product are as​ follows:
Direct materials (8 pounds at $0.70 per pound) $5.60
Direct labor (2 hours at $8 per hour) 16.00
Variable manufacturing overhead
(2 hours at $7 per hour) 1,400
Total 3,560
During November Year​ 2, 3,500 units of Clan were produced. The costs associated with November operations were as​ follows:
Material purchased (35,000 pounds at $0.80 per pound) 28,000
Material used in production (31,500 pounds)
Direct labor (7,500 hours at $7.50 per hour) 56,250
Variable manufacturing overhead incurred 55,500
What is the variable overhead efficiency variance for Clan for November Year​ 2?
1. $3,500 favorable.
2. $3,500 unfavorable.
3. $4,000 favorable.
4. $4,000 unfavorable.

Answers

Answer:

$3,500 Unfavorable

Explanation:

The computation of variable overhead efficiency variance for Clan for November Year 2 is shown below:-

Variable overhead efficiency variance

=  (Standard labor hours - actual labor hours) × (Standard variable overhead rate)

= (3,500 × 2 - 7,500) × $7

= (7,000 - 7,500) × $7

= $3,500 Unfavorable

Therefore for computing the Variable overhead efficiency variance we simply applied the above formula.

2. The world has now become a “global village” in many respects. a) Explain any 5 factors working to make the world “a global village” for businesses. b) Discuss 4 major reasons why businesses go global.

Answers

Answer:

the watch has been totally fed tractors working to make a words a Glover villa for measures reserve between two globin respect as a global wind I have been by practice and a business discuss and white business as a work of the word for

Jay owns Gatsby Islands and wants to convey it to his good friends, Nick and Daisy. Nick lives next door to Jay while Daisy lives across the waters. He conveys an interest in Gatsby Islands "to Nick as tenants by the entirety." Two months later, he makes a corresponding conveyance to Daisy. Jay created the following:_______

a. tenancy in common
b. severalty community property
c. joint tenancy with rights of survivorship
d. tenancy by entirety

Answers

Answer:

Correct Answer:

c. joint tenancy with rights of survivorship

Explanation:

The property Jay owes on Gatsby Island belongs to him but he wishes to share th ownership with his 2 good friends. His conveyance of the message to both which reads "tenants by the entirety" shows that he and his friends has equal ownership and rights to the Gatsby Island property.

In the event that either him or one of the friends dies, the full title of the property automatically passes to the surviving person.

A customer buys 100 shares of ABC at $17 as the initial transaction in a new margin account. The customer must deposit:______

Answers

Answer:

$1,700

Explanation:

Although the minimum equity to open a long margin account is $2,000. However, this does not apply if the securities in the account are paid fully.

It will amount to potential loss if a customer is asked to deposit more than 100% when buying. Since the customer wants to buy 1,700 of stock, it means that 100% or $1,700 (100 shares × $17) must be deposited.

According to the kinked demand curve theory, the behavior of firms in an oligopoly creates a demand curve that is ________ at prices above the cartel price and ________ at prices below the cartel price.

Answers

Answer:

According to the kinked demand curve theory, this behavior creates a demand curve that is more elastic at prices above the cartel price and more inelastic at prices below the cartel price.

Explanation:

Oligopoly is a market structure with a small number of firms, none of which can keep the from from having significant influence in the same specialization they indulge in.

The kinked demand curve theory means that the response to a price increase is less than the response to a price decrease of the Olipolist in the market

Optimal order quantities exist when the curves for the order-processing cost per unit and inventory-carrying cost per unit ________.

Answers

Answer:intersect

Explanation:

The optimal order quantity is also referred to as the economic order quantity. It is used to know the optimal quantity that need to be ordered in order to avoid wastage and also reduce cost. It is a cost-effective strategy.

Optimal order quantities exist when the curves for the order-processing cost per unit and inventory-carrying cost per unit intersect.

Slack Inc. borrowed $400,000 on April 1. The note requires interest at 12% and principal to be paid in one year. How much interest is recognized for the period from April 1 to December 31? a. $0. b. $48,000. c. $32,000. d. $36,000

Answers

Answer:

D.$36,000

Explanation:

Calculation for How much interest is recognized for the period from April 1 to December 31

First step is to find the 12% of the amount that was borrowed which is $400,000

$400,000×12%

=$48,000

Now let calculate for the amount of interest that is recognized from April 1 to December 31

Interest =$48,000×3/12

Interest =$12,000

Hence,

Interest =$48,000-$12,000

Interest=$36,000

Therefore the amount of interest that is recognized from April 1 to December 31 will be $36,000

Which of the following is concerned with the effect of exchange rate changes on individual transactions, most of which are short-term affairs that will be executed within a few weeks or months?

a. Purchasing power parity
b. Transaction exposure
c. Economic exposure
d. Translation exposure
e. Currency speculation

Answers

Answer: Transaction exposure

Explanation:

Transaction exposure, is a form of foreign exchange risk that is faced by the organizations that take part in international trade. It occurs when the fluctuation in exchange rate change a contracts value before it is settled.

It is concerned with the effect of exchange rate changes on individual transactions, most of which are short-term affairs that will be executed within a few weeks or months.

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