Answer and Explanation:
The categorization is as follows:
a. It is a unit of account as it determined the panaview model along with the zony model plus the comparison is also there
b. It is the store of value because the saving should be the similar value over the time
c. It is the medium of exchange as he has purchased the player where the money is exchanged with the product
In this way it should be categorized
purchased heavy equipment by giving the seller a $30,000 cash down payment and a 5-year interest-bearing note for the $170,000 balance of the price. Compute Pettit's book basis and tax basis in the equipment
Answer: $200,000
Explanation:
The book and tax basis will be the same in this instance because the equipment was purchased newly.
The book and tax basis will be the price of the equipment:
Price = Cash down payment + Present value of interest bearing note
= 30,000 + 170,000
= $200,000
Book and Tax basis is therefore $200,000
P Company owns 90% of the outstanding common stock of S Company. On January 1, 2015, S Company sold land to P Company for $578,000. S Company originally purchased the land for $427,400. On January 1, 2016, P Company sold the land purchased from S Company to a company outside the affiliated group for $676,100. Calculate the amount of gain on the sale of the land that is recognized on the books of P Company in 2016.
Answer: $98,100
Explanation:
Gain on the sale of the land would be the difference between the amount the land was sold for to the outside entity and the amount that P Company purchased it at.
= Selling price to outside group - Price purchased from S Company
= 676,100 - 578,000
= $98,100
Lion Company accepted a $15,000, 30-day, 6% note on December 16 from Diaz Co, granting a time extension on his past-due account receivable. The adjusting entry on December 31 for Lion Company would include a credit to:
Answer:
Interest Revenue for $37.50
Explanation:
The interest that has accrued on the note receivable from December 16 till December 31(for 15 days) needs to be recognized at the end of the year since the interest for those days has been earned.
Based on 30-day month counting, the interest that would be credited to interest revenue and debited to interest receivable on 31 December is computed thus:
interest receivable=$15000*6%*15/360
interest receivable=$37.50
The treasurer of a large corporation wants to invest $43 million in excess short-term cash in a particular money market investment. The prospectus quotes the instrument at a true yield of 3.47 percent; that is, the EAR for this investment is 3.47 percent. However, the treasurer wants to know the money market yield on this instrument to make it comparable to the T-bills and CDs she has already bought. If the term of the instrument is 77 days, what are the bond equivalent and discount yields on this investment? (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places. Omit the "%" sign in your response.)
Bond equivalent yield %
Discount yield %
Answer and Explanation:
The computation is shown below:
Given that,
EAR = 3.47%
1.0347 = (1+R ×77 ÷ 365)^365 ÷ 77
Now Take 365/77th root both sides
So,
1+R × 77 ÷ 365 = 1.00722
1+R × 0.2109 = 1.00722
R × 0.2109 =0.00722
R = 0.03423
Thus, Bond Equivalent Yield = 3.423%
Now
Discount Yield = (360 × 0.03423) ÷ (365+77 × 0.03423)
= 12.3244 ÷ 367.6361
= 0.03352
Thus, Discount Yield = 3.352%
Sal is very clear in defining for his subordinates the incentives available to them for different levels of performance. He makes sure they understand the path toward receiving incentives and follows through on rewarding them when they meet those goals. Sal exhibits the _______ theory of leadership.
Answer: d. path–goal
Explanation:
The Path-goal theory of leadership espouses that leaders should be dynamic and use whichever leadership style would be best suited to the abilities of their subordinates and the work environment that they are in.
It is then divided into four styles with the relevant style here being the "directive path-goal clarifying leader behavior". Under this style, the manager specifies exactly what it is that they want from the employees and then rewards them when they meet the required objectives.
The theory of leadership that Sal was exhibiting when he was defining some incentive that can make them perform well and explain the path to follow so as to receive the incentive when they achieve their goal is The path-goal theory.
The path-goal theory can be regarded as one that focus on leader's behavior which serves as contingent to the satisfaction that influence the motivation and performance of their employees. Good example us where Sal promise her employee about incentive once they achieve their goals.Therefore, The path-goal theory is correct.
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The following firms in the widget industry have the following market shares:
Spacely Sprocket Widgets 12 %,
Cogswell Cog Widgets 13 %,
Intel Widgets 14 %,
Compaq Widgets 15 %,
IBM Widgets 16%,
Apple Widgets 17 %, &
Microsoft Widgets 13 %.
Required:
Based on this information, what is the Herfindahl Hirschmann Index (HHI) for the Widget Industry ?
Answer: 1,448
Explanation:
The Herfindahl Hirschman Index (HHI) is used to show how concentrated an industry is. A lower score indicates that the industry is not very concentrated because there are multiple firms involved.
A higher score shows that the industry is concentrated and controlled by a few firms.
HHI = ∑ square of every firm market share
= 12² + 13² + 14² + 15² + 16² + 17² + 13²
= 1,448
This industry is relatively competitive.
The following relates to a proposed equipment purchase: Cost $ 157,000 Salvage value $ 5,000 Estimated useful life 4 years Annual net cash flows $ 52,600 Depreciation method Straight-line Ignoring income taxes, the annual net income amount used to calculate the accounting rate of return is
Answer:
$14,850
Explanation:
Depreciable amount = $158,000 - $5,000 = $153,000
Annual depreciation = $38,250
Annual net income = $53,100 - $38,250 = $14,850.
Therefore, the annual net income amount used to calculate the accounting rate of return is $14,850
Rosie is an employee of Social Media Company. At the end of a successful unionization campaign, Tech Workers Union is certified as the employees’ bargaining representative. Rosie refuses to join the union. For this refusal, under the National Labor Relations Act, the union can force the company to
Answer: d. none of the choices.
Explanation:
Joining a union is a voluntary act which means that if a person decides not to join one, not much can be done about it by the Union.
The Union cannot compel the company to discharge or fire the employee, neither can they encourage them to deny the employee a promotion or discriminate against the employee in their employment of the employee.
The main disadvantage of not being in a trade union is that they will not represent you in disputes against the company.
Brockton Corporation, which allocates manufacturing overhead on the basis of machine-hours, has provided the following data for its most recent year of operations.
Actual manufacturing overhead costs incurred $35,000
Manufacturing overhead allocated to jobs 33,800
Underallocated or overallocated Manufacturing overhead ?
Required:
Calculate the manufacturing overhead and indicate if the remainder is underallocated or overallocated for the year.
Answer:
Underapplied overhead= $1,200
Explanation:
Giving the following information:
Actual manufacturing overhead costs incurred $35,000
Manufacturing overhead allocated to jobs 33,800
To calculate the under/over allocation, we need to use the following formula:
Under/over applied overhead= real overhead - allocated overhead
Under/over applied overhead= 35,000 - 33,800
Underapplied overhead= $1,200
Athena Company's salaried employees earn two weeks of vacation per year. It pays $910,000 in total employee salaries for 52 weeks but its employees work only 50. Record Athena Company's weekly journal entry to record the vacation expense:
Answer:
If $910,000 is paid as employee salary for the year then the weekly salary is:
= 910,000 / 52
= $17,500
The cost of 2 vacation weeks is therefore:
= 17,500 * 2
= $35,000
There are 50 weeks to be worked so vacation expense needs to be apportioned to these weeks:
= 35,000 / 50
= $700
Weekly journal entry is:
Date Account Title Debit Credit
XX-XX-XXXX Vacation Benefits Expense $700
Vacation Benefits Payable $700
The CEO said, "Around every six months, my upper management team and I meet to review the goals that will be achieved over the next year, five years, and beyond. We then make sure we are clear on who will take responsibility to see that appropriate actions are undertaken to achieve our goals within the time frame we set." The CEO is describing the management function of
Answer: Planning
Explanation:
From the information given, the CEO is describing the management function of planning.
Planning refers to the organization of activities which are required to achieve a particular goal. Planning is concerned with the determination of the missions and the resources which will be used in achieving a goal and working towards it's achievement.
Based on the question, the management is creating a detailed action plan that is aimed at an organizational goal.
10 percent decrease in consumer incomes leads to a 20 percent decrease in the quantity demanded of good D. Instructions: Round your answer to one decimal place. If you are entering a negative number be sure to include a negative sign (-) in front of that number. The income elasticity of this good is: . This good can best be described as (Click to select) .
Answer:
Income elasticity = 2
Normal good
Explanation:
Below is the given values:
Percentage decrease in consumers income = 10%
Percentage decrease in quantity demanded = 20%
Use the below formula to find the income elasticity:
Income elasticity = % change in quantity demanded / % in income
Income elasticity = -20/-10
Income elasticity = 2
Since the elasticity is 2 that means good is normal good.
A moving average of stock prices _________________.A. always lies above the most recent priceB. always lies below the most recent priceC. is less volatile than the actual pricesD. is more volatile than the actual prices
Answer:
The correct option is C. is less volatile than the actual prices.
Explanation:
A moving average is a data-analysis approach that calculates the averages of distinct subsets of the complete data set. The purpose of determining a stock's moving average is to smooth out price data by creating an average price that is constantly updated.
Therefore, the moving average reduces the impact of random, short-term fluctuations on the price of a stock over a given time frame. This makes the moving average of stock prices be less volatile than the actual prices.
Therefore, the correct option is C. is less volatile than the actual prices.
A survey of 385 people who like wild sweaters found that 74% had a wild holiday sweater. What is the population and what is the sample?
Answer:
385
Explanation:
because it says 385
In a situation where a survey of 385 people who like wild sweaters found that 74% had a wild holiday sweater, the population as well as the sample will be 385. Therefore, the option C holds true.
What is the significance of a sample?A sample can be referred to or considered as a set of units that are taken into consideration for interpreting a data for bigger number of available observations. Sampling method is considered as an ideal option for surveys to save time and efforts.
In the condition given above, a survey included 385 people out of the total population of the survey, however, the 385 people are just the samples for saving time and effort. The actual results for bigger representation will also be closer to 74%.
Therefore, the option C holds true and states regarding the significance of a sample.
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The missing options for the incomplete question have been added below for better reference.
A survey of 385 people who like wild sweaters found that 74% had a wild holiday sweater. What is the population and what is the sample?
A. 96
B. 289
C. 385
D. 74
Burt is strategizing and planning an IMC marketing campaign for the company where he is employed as marketing specialist. If he is to execute an effective IMC campaign, which aspects should he consider
Answer:
Incorporate the manufacturing process steps of the service into your planning and design process. A further explanation is provided below.
Explanation:
Burt would have had to take into account the possible throughout the development process of the marketing campaign when trying to execute an integrated Communication IMC program.An essential component of conducting a successful IMC campaign requires determining the phase including its project lifecycle.Thus the above is the right answer.
Janet and Megan are debating the use of student discounts by local stores near school. Janet argues, "When stores offer discounts to students with valid identification, it is price discrimination, because they are attempting to separate the market into two groups—each with different demands for that particular good." Megan responds with, "This is not a form of price discrimination, because there is no age restriction for students. Economists generally agree with :
a. Dina
b. Antonio
Answer:
Antonio
Explanation:
In simple words, Antonio has a lot of support among economists. Price discrimination occurs when a vendor is able to split clients into groupings or segregate a marketplace into two categories so that they may charge varying charges to that same two groups. It has hardly anything to deal with the customers' age.
Thus, Antonio is correct with his views.
Tinker Company reported sales revenue of $500,000 and total expenses of $450,000 (including depreciation) for the year ended December 31, 2010. During 2010, accounts receivable decreased by $5,000, merchandise inventory increased by $4,000, accounts payable increased by $6,000, and depreciation expense of $10,000 was recorded. Assuming no other data is needed and using the indirect method, the net cash inflow from operating activities for 2010 was:
Answer:
Net Cash inflow from operating activities $67,000
Explanation:
The computation of the net cash flow from operating activities is shown below:
Net Income ($500,000 - $450,000) $50,000
Add: Depreciation $10,000
Add: Decrease in account receivable $5,000
Less: Increase in inventory ($4,000)
Add: Increase in account payable $6,000
Net Cash inflow from operating activities $67,000
Abraham told Linda that if she did not sign over her stock options to him he would inflict bodily harm on her and her family. Linda quickly signs over all of her stock options. This is known as _______.
a. negligence
b. coercion
c. manipulation
d. duress
e. breach of duty
Answer:
d) Duress
Explanation:
From the question we are informed about Abraham who told Linda that if she did not sign over her stock options to him he would inflict bodily harm on her and her family. Linda quickly signs over all of her stock options. This is known as Duress.
Duress can be regarded as an act which involves the use of force, psychological pressure as well as
coercion and threats or other means to make sure that someone act against his or her wishes. Whenever an individual act under duress, then their act is not from their own free will and this is treatable just accordingly when it comes to court proceedings.
Carpenter Inc. had a balance of $89,000 in its quality-assurance warranty liability account as of December 31, 2020. In 2021, Carpenter's warranty expenditures paid were $454,000. Its warranty expense is calculated as 1% of sales. Sales in 2021 were $40.9 million. What was the balance in the warranty liability account as of December 31, 2021
Answer:
$44
Explanation:
Calculation to determine what
was the balance in the warranty liability account as of December 31, 2021
Warranty liability account as of December 31, 2021=(1%*89,000)+(40,900,000*.01)-(1%*$454,000)
Warranty liability account as of December 31, 2021=89+(40,900,000*.01)-454
Warranty liability account as of December 31, 2021=$44
Therefore the balance in the warranty liability account as of December 31, 2021 was $44
If the constructor function is a machine to create object instances, then the _____ is the blueprint for the objects that are created.
I think ( prototype)
If the constructor function is a machine to create object instances, then the prototype is the blueprint for the objects that are created.
5. If a company had $15,000 in net income for the year, and its sales were $300,000 for the same year, what is its profit margin
Answer:
5%
Explanation:
Net income is $15,000
Sales is $300,000
The profit margin can be calculated as follows
= 15,000/300,000
= 0.05×100
= 5%
Profit margin is 5%
Operating Leverage Beck Inc. and Bryant Inc. have the following operating data: Beck Inc. Bryant Inc. Sales $1,250,000 $2,000,000 Variable costs (750,000) (1,250,000) Contribution margin $500,000 $750,000 Fixed costs (400,000) (450,000) Operating income $100,000 $300,000 a. Compute the operating leverage for Beck Inc. and Bryant Inc. If required, round to one decimal place. Beck Inc. fill in the blank 1 Bryant Inc. fill in the blank 2 b. How much would operating income increase for each company if the sales of each increased by 20%? Dollars Percentage Beck Inc. $fill in the blank 3 fill in the blank 4 % Bryant Inc. $fill in the blank 5 fill in the blank 6 % c. The difference in the of operating income is due to the
Answer:
1. Operating leverage = Contribution margin / Net income
Beck Inc.
Operating leverage = $500,000 / $100,000
Operating leverage = 5
Bryant Inc.
Operating leverage = $750,000 / $300,000
Operating leverage = 2.5
2. Income from operations increase = Increase in sales * Degree of operating leverage
Dollar increase = Net income * Percentage
Beck Inc.
Percentage = 5*20 = 100% (Income from operations increase)
Dollar increase = $100,000 * 100% = $100,000
Bryant Inc.
Percentage = 2.5*20 = 50% (Income from operations increase)
Dollar increase = $300,000 * 50% = $150,000
A construction manager just starting in private practice needs a van to carry crew and equipment. She can lease a used van for $3,510 per year, paid at the beginning of each year, in which case maintenance is provied. Alternatively, she can buy a used van for $5,185 and pay for maintenance herself. She expects to keep the van for three years at which time she could sell it for $1,330. What is the most she should pay for uniform annual maintenance to make it worthwhile to buy the van instead of leasing it, if her MARR is 20%
Answer:
$2,116
Explanation:
The computation is shown below:
Option 1 - Leasing
= 3510 + ( 3510 ÷ 1.2 ) + ( 3510 ÷ 1.2 ^ 2 )
= 8872.5
Now
Option 2 - Buying
Given that
Initial Cost - 5185
PV of salvage value = 1330 ÷ 1.2 ^ 3
= 769.68
So,
Cost = 5185 - 769.68
= 4457.176
Now the payment should be
= 4457.176 × 0.47473 (PV annuity factory for 20% at 3 years)
= $2,115.955
= $2,116
Suppose GDP consists of eggs and ham. In 2002, 100 dozen eggs are sold at $3 per dozen, and 50 pounds of ham are sold at $4 per pound. If in 2001, the base year, eggs sold at $1.50 per dozen and ham sold at $5 per pound, nominal 2002 GDP is
Answer:
Nominal GDP = $500
Explanation:
Given the price of eggs in 2002 = $3
Quantity of eggs = 100 dozens
Price of ham in 2002 = $4
Quantity of ham = 50 pounds
Nominal GDP = Current year price x current year quantity
Nominal GDP = 100 x 3 + 50 x 4
Nominal GDP = 300 + 200
Nominal GDP = $500
Kingbird, Inc. purchased a piece of equipment for $72,200. It estimated a 8-year life and a $3,400 salvage value. At the end of year four (before the depreciation adjustment), it estimated the new total life to be 10 years and the new salvage value to be $7,200.
Compute the revised depreciation assuming Kingbird uses the straight-line method.
Revised annual depreciation
$enter the revised annual depreciation in dollars
Depreciation Expense 3,060
Accumulated Depreciation 3,060
72,200-3,400=68,800/8yr=8,600*4yrs=34,400-72,200=37,800
37,800-7,200=30,600/10yr=3,060 annual depreciation
72,200-3,400=68,800/8yr
=8,600*4yrs
=34,400-72,200=37,800
37,800-7,200=30,600/10yr
=3,060 annual depreciation
Therefore, the Depreciation Expense of 3,060.
What is depreciation?Depreciation is a term used in accounting to describe two different aspects of the same idea: first, the actual decline in an asset's fair value as it is used and worn, such as the annual decline in value of factory equipment, and second, the allocation in accounting statements of the asset's original cost to the periods in which the asset is used (depreciation with the matching principle).
Depreciation is the process of reallocating, or "writing down," the cost of a physical item (such as equipment) over the course of that asset's useful life. It also refers to the decline in asset value. Long-term assets are depreciated by businesses for accounting and tax reasons. A company's or entity's balance sheet is impacted by the asset's decline in value, and the income statement they report is impacted by the process of depreciation from an accounting standpoint.
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Triathlon Cycles specializes in producing touring bicycles but has recently Activity Cost pool Mountain Bicycle Touring Bicycle Direct materials per unit $1,000 $2,200 Total direct labor cost $300 $700 Total manufacturing overhead $75,000 $180,000 Number of units 200 units 400 units1. What is the manufacturing overhead allocated to each mountain bicycle?2. What is the total manufacturing costs of one touring bicycle?
Answer:
$375 per mountain bicycle $3,350 per touring bicycleExplanation:
1. Manufacturing overhead of each mountain bicycle:
= Total manufacturing overheads for mountain bicycles / Number of units
= 75,000 / 200
= $375 per mountain bicycle
2. Manufacturing costs of one touring bicycle
= Direct labor + Direct material + Manufacturing overhead per touring bicycle
= 700 + 2,200 + (180,000 / 400 units of touring bicycles)
= 700 + 2,200 + 450
= $3,350
The preferred stock of a company pays a $2.75 quarterly dividends. If the preferred stockholders' required return is 7.25% for these shares, what price should the preferred stock sell for?
82.35
151.72
92.31
114.29
167.74
Answer:
$151.72
Explanation:
Quarterly dividends of preferred stock = $2.75
Annual dividend of preferred stock = 4 * Quarterly dividend
Annual dividend of preferred stock = 4 * $2.75
Annual dividend of preferred stock = $11
Required return = 7.25% = 0.0725
Return = Dividend / Current price
0.0725 = $11 / Current price
Current price = $11 / 0.0725
Current price = 151.724138
Current price = $151.72
So, the preferred stock should sell for $151.72.
During 2021, Raines Umbrella Corporation had sales of $772,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $465,000, $104,500, and $150,000, respectively. In addition, the company had an interest expense of $74,400 and a tax rate of 25 percent. (Ignore any tax loss carryforward provisions and assume interest expense is fully deductible). Suppose Raines Umbrella Corp. paid out $102,000 in cash dividends. Is this possible? If spending on net fixed assets and net working capital was zero, and if no new stock was issued during the year, what is the net new long-term debt?
Answer:
Paying out $102,000 in cash dividends is possible
Net new long-term debt $26,100
Explanation:
Calculation to determine the net new long-term debt
Sales $772,000
Less Cost of goods sold $465,000
Gross profit $307,000
($772,000-$465,000)
Administrative and selling expenses $104,500
Depreciation expenses $150,000
Earning before interest tax $52,500
($307,000-$104,500-$150,000)
Interest expense $74,400
Profit or Loss before tax ($21,900)
($52,500-$74,400)
Less Tax 25% $0
Add Depreciation expense $150,000
Net Cash flow $128,100
(-$21,900+$150,000)
Dividend $102,000
Net new long-term debt $26,100
($128,100-$102,000)
Therefore Based on the above calculation Paying out $102,000 in CASH DIVIDENDS is possible even though the Net income is Negative, its operating cash flow is $128,100 positive which means that the company has enough cash balance to pay dividends of $102,000. The Net new long-term debt is $26,100
A convertible preferred stock is convertible at $10, pays a 4% annual dividend, is callable at $110, and is trading at a current market price of $116. Based on these details, what is the parity price of the common stock
Answer:
$11.60
Explanation:
In ascertaining the parity price of the common stock, we need to ascertain the conversion ratio which is the par price of the preferred stock divided by the convertible price
The par value of the preferred stock=$100(since call price is $110)
convertible price=$10
conversion ratio=$100/$10=10
The parity price is the current market price of the preferred stock divided by the conversion ratio
Parity price=$116/10
Parity price=$11.60
Wayland Company has a standard of 5.0 hours of labor per unit, at $11.00 per hour. In producing 800 units, Wayland used 3,800 hours of labor at a total cost of $41,000. What is Wayland's labor price variance
Answer:
Direct labor rate variance= $798 favorable
Explanation:
To calculate the direct labor rate variance, we need to use the following formula:
Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity
Direct labor rate variance= (11 - 10.79)*3,800
Direct labor rate variance= $798 favorable
Actual rate= 41,000 / 3,800= $10.79
