Money facilitates trade because: Group of answer choices it serves as a medium of exchange. it eliminates the need for specialization. it is considered less valuable than the goods it is used to buy. the division of labor allows goods to be produced at a lower cost. it prevents people from taking advantage of each other.

Answers

Answer 1

Answer:

It serves as a medium of exchange.

Explanation:

It serves as a medium of exchange is the correct answer because in the trade money plays an important role and it makes the trading very easy as compared to barter system where a person has to find the other person who is in the need of same commodity through which the other person wants to exchange. Moreover, the use of money as a medium of exchange eliminated all the problems that were in the barter system.


Related Questions

A company like Motorola might establish a goal of reducing its inventory by 50 percent over the next year. To ensure that it reaches this goal, the company could monitor its progress on a quarterly or monthly basis. If the managers at Motorola discover that there is a danger of not achieving this goal, they can take corrective action to adjust for the deficiency. This is a description of the managers' ____ function.

Answers

Answer:

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Explanation:

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A new employee, John Chapman, earns $10 per hour and gets time-and-a-half over 40 hours per week. His first week he worked 45 hours. Deductions from his check were $30 for OASDI, $7 for Medicare, $ 61 for federal income tax withholding, and $15 for a United Way contribution. What was his gross pay for the period

Answers

Answer: $475

Explanation:

Gross pay is:

= Regular pay + Overtime

= (Regular hours * Regular pay) + ( Overtime hours * regular pay * time and a half)

= (10 * 40 hours) + ( (45 - 40 hours) * 10 * 1.5)

= 400 + 75

= $475

Jebali Company reports gross income of $340,000 and other property-related expenses of $229,000 and uses a depletion rate of 14%. Calculate Jebali's depletion allowance for the current year. $fill in the blank 1

Answers

Answer:

15,540

Explanation:

Depletion = depletion rate x (gross income - expenses)

0.14 x ($340,000 - $229,000) = 15,540

On its December 31, 2017, balance sheet, Calgary Industries reports equipment of $470,000 and accumulated depreciation of $94,000. During 2018, the company plans to purchase additional equipment costing $100,000 and expects depreciation expense of $40,000. Additionally, it plans to dispose of equipment that originally cost $52,000 and had accumulated depreciation of $7,600. The balances for equipment and accumulated depreciation, respectively, on the December 31, 2018 budgeted balance sheet are:

Answers

Answer:

The cost balance on 31 December 2018 is $518,000 while that of accumulated depreciation is $126,400

Explanation:

The balance of fixed assets is computed as

Opening balance - accumulated depreciation - depreciation + Addition - Disposal

Hence given that on December 31, 2017, Calgary Industries reports equipment of $470,000 and accumulated depreciation of $94,000. During 2018, the company plans to purchase additional equipment costing $100,000 and expects depreciation expense of $40,000, Additionally, it plans to dispose of equipment that originally cost $52,000 and had accumulated depreciation of $7,600 the balance then

= $470,000 + $100,000 - $52,000

= $518,000

The accumulated depreciation

= $94,000 + $40,000 - $7,600

= $126,400

Floyd tells his daughter Glenda that she can have his Harley Davidson when he dies, but he does not add this to his will, and he is not on his deathbed. This is

Answers

The scenario explained shows that this is not a valid gift.

Some of the criterias for a gift to be considered a valid gift is that there should be a competent donor, an eligible donee, an intention to donate a particular thing and there should be a transfer of possession of that property or thing.

In this case, Floyd tells his daughter that he will give her a particular gift when he dies, but he eventually does not add this to his will.

Therefore, in this case, there's no transfer of possession to the daughter. Therefore, it's not a valid gift.

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A firm sells its product in a perfectly competitive market where other firms charge a price of $110 per unit. The firm estimates its total costs as C(Q) = 70 + 14Q + 2Q2. a. How much output should the firm produce in the short run?

Answers

Answer: 24 units.

Explanation:

Price(P) = 110

C(Q) = 70 + 14Q + 2Q²

The output level will be gotten when price e equals to the marginal cost.

Since C(Q) = 70 + 14Q + 2Q², the marginal cost (MC) will be: 14 + 4Q.

Therefore, P = MC

110 = 14 + 4Q

4Q = 110 - 14

4Q = 96

Q = 96/4

Q = 24

In the short run, the firm will produce 24 units.

American Corp. is currently an all-equity firm that has 22,000 shares of stock outstanding with a market price of $27 a share. The current cost of equity is 12 percent and the tax rate is 35 percent. The firm is considering adding $225,000 of debt with a coupon rate of 6.25 percent to its capital structure. The debt will sell at par. What will be the levered value of the equity

Answers

Answer: $447,750

Explanation:

The value of a levered firm is calculated as:

= (Number of shares outstanding * Market price) + (Debt * tax rate)

= (22,000 * 27) + (225,000 * 35%)

= $672,750

Equity = Value of levered firm - Debt

= 672,750 - 225,000

= $447,750

Buff is considering a new packaging machine. The initial cost is $10,000 and we would save $4,000 per year in labor costs. If our MARR is 12% and our projects must have a 3-year discounted payback period, should we purchase this packaging machine?
Yes
No
Not enough nformation to answer.

Answers

Answer:

NO

Explanation:

Discounted payback calculates the amount of time it takes to recover the amount invested in a project from it cumulative discounted cash flows

For the machine to be accepted, the total amount invested should be recovered in three years or less

Amount recovered = - cost of the project + discounted value of the cash flow

Amount recovered in year 1 = -10,000 + (4000 / 1.12) = -6,428.57

Amount recovered in year 2= -6,428.57 - (4000/ 1.12^2) = -3239.74

Amount recovered in year 3=  -3239.74 + (4000/ 1.12^3) = -392.62

the project would not be accepted because the amount invested would not be recovered within 3 years

The company has net sales revenue of $3.6 million during 2018. The company's records also included the following information: Assets 12/31/17 12/31/18 Property, plant and equipment $ 2.3 million $ 2.5 million Licensing agreements $ 0.5 million $ 0.4 million Goodwill $ 0.3 million $ 0.3 million Investments $ 0.4 million $ 0.5 million What is the company's fixed asset turnover ratio for 2018

Answers

Answer:

1.5

Explanation:

Calculation to determine the company's fixed asset turnover ratio for 2018

Average Net Fixed Assets=3,600,000/ [(2,300,000 + 2,500,000)/2]

Average Net Fixed Assets=3,600,000/(4,800,000/2)

Average Net Fixed Assets=3,600,000/2,400,000

Average Net Fixed Assets = 1.5

Therefore the company's fixed asset turnover ratio for 2018 is 1.5

Super Garage was started on June 1 by Mr. Peter Thomson . A summary of June transactions

is presented below.

June 1. Invested $25,000 cash to start the garage.

2. Purchased repair equipment for $5,000 cash.

4. Paid $500 cash for the space rent.

4. Hired an employee

5. Paid $700 for a one-year fire insurance policy.

6. Received $10000 in cash from customers for repair service.

10. Provided repair service on account to customers $1750.

21. Collected cash of $5000 for services provided on June 6.

27. Withdrew $1,000 cash for personal use.

30. Paid employee salaries $3,000.

30. Received an electricity bills $170.

Required:

i. Journalize the transactions

ii. Post and balance the transactions to ledger accounts

Answers

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the gap between 'where we are now' and 'where we want to be' is known as the.....​

Answers

Answer:

Planning gap.

Explanation:

Planning can be defined as the process of developing organizational objectives and translating them into action plans or courses of action.

This ultimately implies that, planning is a strategic technique used by organizations to make an aggregate plan for its manufacturing (production) process typically ahead of time, in order to have an idea of the level of goods that are to be produced and what resources are required so as to reduce the total cost of production to its barest minimum.

The planning gap can be defined as the gap between "where we are now?" and "where we want to be?"

Basically, "where are we now?" describe the current situation of things or financial and non-financial activities that a business firm currently holds.

On the other hand, "where we want to be?" is a vision and mission statement that focuses on achieving the goals and objectives set for a business firm.

Cash Short and Over Entries
Listed below are the weekly cash register tape amounts for service fees and the related cash counts during the month of July. A change fund of $100 is maintained.
Date Change Fund Cash Register Actual Cash
Receipt Amount Counted
July 2 $100 $281.80 $379.00
July 9 100 311.50 411.50
July 16 100 304.10 406.90
July 23 100 318.20 416.00
July 30 100 293.60 397.50
1. Determine the ending balance of the cash short and over account.
2. Does it represent an expense or revenue?

Answers

Answer:

1. Ending balance of cash short and over account:

Ending cash = 100 beginning balance + Cash register amount - Actual cash counted

July 2 = 100 + 281.80 - 379.00

= $2.80 shortage because actual cash is less than it should be

July 9 = 100 + 311.50 - 411.50

= $0

July 16 = 100 + 304.10 - 406.90

= $2.80 surplus because actual cash is more

July 23 = 100 + 318.20 - 416.00

= $2.20 shortage

July 30 = 100 + 293.60 - 397.50

= $3.90 surplus

Balance = Surplus - shortages

= (3.90 + 2.80) - (2.80 + 2.20)

= $1.70

2. This is revenue because it is a surplus.

Define the KPI ‘rate of staff absenteeism’.

Answers

Answer:

KPI, Key Performance Indicators are used for measuring the average absenteeism rate per employee. This is computed as a % of the total working days.

Explanation:

Individual employee Key Performance Indicators (KPIs) are metrics that assist in tracking the ability of your employees to meet your expectations and their impact on the business goals.

Corinne, an escrow agent, is preparing for the Thomas/Trenton closing in four days. Which of these documents will Corinne prepare? Unset starred question She'll prepare a seller net sheet to disclose the seller's net profit on the sale. Working with the lender, she'll prepare the Loan Estimate, which details the costs the buyer and seller will pay at closing. Working with the lender, she'll prepare the settlement statement, which details the costs the buyer and seller will have at closing. Working with the title company attorney, she'll prepare the preliminary title commitment.

Answers

The answer is "In collaboration with both the lender, she will write a settling declaration detailing the price to the buyers and sellers.", and the further calculation can be defined as follows:

A trust agreement is generally an arrangement between both the depositor, its buyer, usually the beneficiary, and us as trustees.The account holder shall, in accordance with the terms, deposit with us as a scroll agent a particular document or sum.In four days Corinne, the escrow agent, prepared for close Thomas / Trenton.In collaboration with both the lender, they would produce the settlement statement detailing that cost to be paid by the buyers and sellers to close those documents.Therefore, the "third option" is the only correct choice.

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Bombs Away Video Games Corporation has forecasted the following monthly sales:

January $113,000 July $58,000
February 106,000 August 58,000
March 38,000 September 68,000
April 38,000 October 98,000
May 33,000 November 118,000
June 48,000 December 136,000

Bombs Away Video Games sells the popular Strafe and Capture video game. It sells for $5 per unit and costs $2 per unit to produce. A level production policy is followed. Each month's production is equal to annual sales (in units) divided by 12. Of each month's sales, 40 percent are for cash and 60 percent are on account. All accounts receivable are collected in the month after the sale is made.

Required:
Construct a monthly production and inventory schedule in units. Beginning inventory in January is 38,000 units.

Answers

Answer:

Bombs Away Video Games Corporation

Production and Inventory Schedule

                Sales Units Production units Ending Units

Beginning inventory                                      38,000

January           22,600        15,200               30,600

February          21,200        15,200               24,600

March                7,600        15,200                  1,800

April                   7,600        15,200                9,400  

May                   6,600        15,200               18,000

June                 9,600        15,200              23,600

July                  11,600        15,200              27,200

August            11,600        15,200               30,800

September    13,600        15,200               32,400

October        19,600        15,200               28,000

November   23,600        15,200                19,600

December   27,200        15,200                 7,600

Explanation:

a) data and Calculations:

Sales Budget ($'000)  Sales Units Production units Ending Units

Beginning inventory                          38,000

January        $113,000    22,600       15,200                30,600

February       106,000     21,200       15,200                24,600

March             38,000       7,600       15,200                   1,800

April                38,000       7,600       15,200                  9,400  

May                33,000       6,600       15,200                 18,000

June              48,000       9,600       15,200                23,600

July               58,000       11,600       15,200                27,200

August          58,000      11,600       15,200                30,800

September   68,000     13,600       15,200                32,400

October        98,000    19,600       15,200                28,000

November   118,000    23,600       15,200                19,600

December  136,000    27,200       15,200                 7,600

Total                            182,400    182,400                

Cheers Corporation purchased for $500,000 5,000 shares of Beer Corporation common stock (less than 5% of the outstanding Beer stock) at the beginning of the current year. It used $400,000 of borrowed money and $100,000 of its own cash to make this purchase. Cheers paid $50,000 of interest on the debt this year. Cheers received a $40,000 cash dividend on the Beer stock on September 1 of the current year. Cheers has $5 million of taxable income before any dividends-received deduction. a. What amount can Cheers deduct for the interest paid on the loan

Answers

Answer:

Cheers Corporation

The amount that Cheers can deduct for the interest paid on the loan is:

= $50,000.

Explanation:

a) Data:

Investment in Beer Corporation = $500,000

Number of Beer shares purchased = 5,000

Percentage shareholding in Beer Corporation < 5%

Amount borrowed for the investment = $400,000

Own cash used for the purchase = $100,000

Interest paid on the debt for this year = $50,000 = 12.5%

Cash dividend received for the year = $40,000

Cheers taxable income before dividends = $5 million

The amount of interest deductible = $50,000

b) Since the interest was made for the purpose of the investment in Beers Corporation, the whole amount of interest expense for the year is deductible.

Haulsee Inc. builds 800,000 golf carts a year and purchases the electronic motors for these carts for $370 each. Ordering costs are $540, and Haulsee's inventory carrying costs average 14% of the inventory value.

What is the economic order quantity (EOQ) for Haulsee?

Answers

Answer:

4,084

Explanation:

Calculation to determine the economic order quantity (EOQ) for Haulsee

Using this formula

Economic Order Quantity (EOQ) =((2* Annual Requirement * Cost per order)/Carrying cost per unit)^ (1/2)

Let plug in the formula

Economic Order Quantity (EOQ) = ((2*800,000*540)/(370*14%))^(1/2)

Economic Order Quantity (EOQ) = 4,084 units

Therefore the economic order quantity (EOQ) for Haulsee is 4,084 units

PET Co. owns 80% of the common shares of SAL Corp. PET has no other investments. Goodwill associated with the investment is nil, but there is a fair value increment of $62,500 relating to SAL's patent that is being amortized over 10 years. PET's and SAL's reported net income for 20X5 is as follows: PET Co. SAL Corp. Net income $200,000 $50,000 SAL declared $25,000 in dividends in 20X5. Assuming PET uses the cost method, what amount of consolidated net income attributable to the parent (ATP) would be reported in 20X5?
a) $210,000
b) $215,000
c) $223,750
d) $235,000

Answers

Co so the Anwser must be c

Dilts Company has a unit selling price of $400, unit variable costs of $250, and fixed costs of $210,000. Compute the break-even point in units using (a) the mathematical equation and (b) unit contribution margin.

Answers

Answer:

(a) Break-even point in units using the mathematical equation = 1,400 units

(b) Break-even point in units using unit contribution margin = 1,400 units

Explanation:

(a) Break-even point in units using the mathematical equation

Break-even point in units using the mathematical equation = Fixed costs / (Unit selling price - Unit variable costs) …………….. (1)

Substituting the relevant values into equation (1), we have:

Break-even point in units using the mathematical equation = $210,000 / ($400 - $250) = 1,400 units

(b) Break-even point in units using unit contribution margin

Unit contribution margin = Unit selling price - Unit variable costs = $400 - $250 = $150

Therefore, we have:

Break-even point in units using unit contribution margin = Fixed costs / Unit contribution margin = = $210,000 / $50 = 1,400 units

Assume, for this question only, the following: During the negotiations Juan guaranteed Sarita that the business had turned a profit in each of the past 5 years. Actually, it lost money in each of those years, although Juan did not know that. When Juan made the statement about the business's profitability, however, Sarita was conferring with her attorney and did not hear it. Her friend Harry, who was observing the negotiations, heard Juan's statement. Before long, when Sarita realizes what a bad deal she's made, she laments the fact to Harry. When Harry inquires how a business that had been profitable under Juan was suddenly losing money, Sarita is confused. They finally realize that Harry heard Juan's misstatement about the business's profitability and Sarita did not. Even so, Sarita is thrilled. With Harry as her key witness, she seeks to rescind the sale agreement claiming innocent misrepresentation. Which of the following is true?
A. Rescission, because Juan intended to defraud Sarita.
B. No rescission, because Juan's claims of the business's profitability would not have been material to Sarita if she had heard them.
C. No rescission, because Juan lacked sufficient knowledge of the false nature of his statement and did not intend to trick Sarita.
D. Rescission, because Juan's claims of the business's profitability would have been material to Sarita if she had heard them. E. No rescission, because Sarita did not actually rely on Juan's false statement about the business's profitability.

Answers

Answer:

The true statement about this case is:

D. Rescission, because Juan's claims of the business's profitability would have been material to Sarita if she had heard them.

Explanation:

Though Juan was unaware that the statement was false at the time the contract was signed, the remedy is recession since no damage has been sustained by the other party.  The false statement borders on negligent misrepresentation because Juan was supposed to be aware of the company's profitability by investigating the material fact.  While it is not clear if reliance was placed on the statement when the contract was signed, the fact remains that there was a negligent misrepresentation.

As of December 31, Drake Inc. reported the following (in millions): Current AssetsLong-term AssetsCurrent LiabilitiesTotal Liabilities $31,967$42,737$26,132$61,491 What amount did Drake Inc. report as equity on December 31

Answers

Answer:

$13,213

Explanation:

The computation of the equity is shown below:

As we know that

Total assets = total liabilities + total stockholder equity

here

Totalassets be

= $31,967 + $42,737

= $74,707

ANd, the total liabilities is $61,491

So, the equity should be

= $74,707 - $61,491

= $13,213

Explain how the hotel business could create added value to the goods they buy in?

Answers

Answer:

Well-designed rooms, attractive and comfortable appliances, well-dressed and respectful assistants, good quality entertainment equipment, and delightful food made by experienced chefs.

Explanation:

Guests will feel more welcomed to a clean and comfortable hotel. Respectful assistants, good quality entertainment equipment, and food made by experienced chefs can boost the morale of guests.

Determine the amount of money in a savings account at the end of 1 year, given an initial deposit of $12,000 and a 4 percent annual interest rate when interest is compounded: Use Appendix A for an approximate answer, but calculate your final answer using the formula and financial calculator methods. (Do not round intermediate calculations. Round your final answers to 2 decimal places.)

Answers

Answer:

$ 12480

$ 12,484,80

$12,487.25

Explanation:

annually

quarterly

semi annually

The formula for calculating future value:

FV = P (1 + r) nm

FV = Future value  

P = Present value  

R = interest rate  

m = number of compounding

N = number of years  

annually - 12,000 x 1,04 = 12480

semi annual - 12,000 x (1.02)^2 = 12,484,80

quarterly - 12,000x (1.01)^4 = 12,487.25

The following data apply to Elizabeth's Electrical Equipment:
Value of operations $20,000
Short-term investments $1,000
Debt $6,000
Number of shares 300
The company plans on distributing $50 million by repurchasing stock. What will the intrinsic per share stock price be immediately after the repurchase?

Answers

Answer:

$50

Explanation:

Calculation to determine the intrinsic per share stock price be immediately after the repurchase

First step

Total Assets=Value of operations of 20,000+ Short term investments of 1000

Total Assets=$21,000

Second step

Equity =Assets - Debt

Equity= $21,000-$6,000

Equity= $15,000

Now let determine the intrinsic per share stock price

Intrinsic per share stock price=$15,000/300

Intrinsic per share stock price=$50

Therefore the Intrinsic value per share will be $50 immediately after the repurchase has occured.

The intrinsic per share stock price immediately after the repurchase would be approximately $166,716.67

How did we get the value?

To determine the intrinsic per share stock price immediately after the repurchase, we need to calculate the new number of shares outstanding after the repurchase and then divide the remaining value of operations by the new number of shares.

Given data:

Value of operations: $20,000

Short-term investments: $1,000

Debt: $6,000

Number of shares: 300

First, we need to calculate the new number of shares outstanding after the repurchase. Since the company plans on distributing $50 million by repurchasing stock, we can use this information to determine the number of shares repurchased.

The value of operations ($20,000) plus the short-term investments ($1,000) minus the debt ($6,000) gives us the total equity value of the company before the repurchase:

Equity value before repurchase = Value of operations + Short-term investments - Debt

= $20,000 + $1,000 - $6,000

= $15,000

Let's assume the repurchased shares are denoted by R.

Now, we can set up an equation to represent the total equity value after the repurchase:

Equity value after repurchase = (Number of shares - R) × Intrinsic per share stock price

Given that the total equity value after the repurchase is $15,000 and the number of shares is 300, we have:

$15,000 = (300 - R) × Intrinsic per share stock price

We also know that the company plans on distributing $50 million by repurchasing stock, so we can set up another equation to represent the total value of the repurchased shares:

Total value of repurchased shares = R × Intrinsic per share stock price

Given that the total value of repurchased shares is $50 million, we have:

$50,000,000 = R × Intrinsic per share stock price

Now we can solve these two equations simultaneously to find the values of R (repurchased shares) and Intrinsic per share stock price.

We have the following system of equations:

$15,000 = (300 - R) × Intrinsic per share stock price ...(1)

$50,000,000 = R × Intrinsic per share stock price ...(2)

Divide equation (2) by Intrinsic per share stock price:

$50,000,000 / Intrinsic per share stock price = R

Substitute this value of R into equation (1):

$15,000 = (300 - ($50,000,000 / Intrinsic per share stock price)) × Intrinsic per share stock price

Simplify:

$15,000 = 300 × Intrinsic per share stock price - (50,000,000 / Intrinsic per share stock price) × Intrinsic per share stock price

$15,000 = 300 × Intrinsic per share stock price - 50,000,000

Rearrange the equation:

300 × Intrinsic per share stock price = $15,000 + $50,000,000

300 × Intrinsic per share stock price = $50,015,000

Intrinsic per share stock price = $50,015,000 / 300

Intrinsic per share stock price = $166,716.67 (rounded to two decimal places)

Therefore, the intrinsic per share stock price immediately after the repurchase would be approximately $166,716.67.

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The most recent financial statements for Xporter, Inc., are shown here:
Income Statement Balance Sheet
Sales $5,700 Current assets $ 3,900
Current liabilities $ 2,200 Costs 4,200
Fixed assets 8,100 Long-term debt 3,750
Taxable income $1,500 Equity 6,050
Taxes (34%) 510 Total $12,000 Total $12,000
Net income $ 990
Assets, costs, and current liabilities are proportional to sales. Long-term debt and equity are not. The company maintains a constant 40 percent dividend payout ratio. As with every other firm in its industry, next year’s sales are projected to increase by exactly 15 percent. What is the external financing needed?

Answers

Solution :

Expected sales = current sales x (1 + projected sale next year increase)

                         = 5,700 x (1 + 15%)

                         = $ 6555

Expected cost = current cost x (1 + projected sale next year increase)

                       = 4200 x (1 + 15%)

                       = $ 4830

Taxable income = 1500 x ( 1 + 15%)

                           = $ 1725

Taxes (34%)  = 510 x (1+15%)

                     = $ 586.5

Net income = sales - cost - taxes

                   = 6555 - 4830 - 586.5

                   = $ 1138.5

Calculation of total asset :

Current asset = 3,900 x 1.15

                      = $ 4485

Fixed asset   = 8100 x 1.15

                      = $ 9315

Total asset = 4485 + 9315

                  = $ 13800

Calculation of total liabilities

Current liabilities = 2200 x 1.15

                            = $ 2530

Long term debt = $ 3,750

Equity = $ 6050 + (1138.5 x 0.50 )

          = $ 7189

Total liabilities  = $ 2530 + $ 3,750 + $ 7189

                          = $ 13, 469

Therefore the external financial needed is = $ 13800 - $ 13, 469

                                                                       = $ 331

A consumer's weekly income is $250, and the consumer buys 12 bars of chocolate per week. When weekly income increases to $280, the consumer buys 13 bars per week. The income elasticity of demand for chocolate by this consumer is about

Answers

Answer:

0.69

Explanation:

Given that we have the formula for calculating income elasticity of demand as the percent change in quantity demanded divided by the percent change in income, hence, we have the percent change in quantity demanded => 13 - 12 = 1 ÷ 12 = 0.083

the percent change in income => 280 - 250 = 30 ÷ 250 = 0.12

Therefore we have => 0.083 ÷ 0.12 = 0.69

Hence, the final answer is 0.69

Blue Manufacturing produces lathes at an inventory cost of $25,000 each that sell for $32,000 each. For credit-approved customers, Blue leases the lathes for $8,500 per year for five years. The lathes are guaranteed to last four years and generally have a six-year life. Collection is predictable and reasonably assured. Additionally, the lessor is aware of all costs to be incurred under the lease that will not be reimbursed by the lessor. What is the financing profit of Blue Manufacturing on a leased lathe

Answers

Answer:

The right solution is "$10,500".

Explanation:

Given values are:

Inventory cost,

= $25,000

Selling cost,

= $32,000

The financing profit will be:

= [tex]Lease\ payment - Selling\ price[/tex]

= [tex](8500\times 5) - 32000[/tex]

= [tex]42500 - 32000[/tex]

= [tex]10,500[/tex] ($)

Josh is a hockey player on his university's team. He practices four times a week with his team and sometimes attends Friday night open skate with his friends. If Josh decides to attend the Friday night skate, the cost is $5. Which of the following is economically true regarding Josh's decision to join his friends on Friday night?
A. Josh will only attend Friday night skate if there is no charge, a fifth time skating will not benefit him at all.
B. Since Josh already skates four times a week with his hockey team, he will never choose to skate a fifth time that week.
C. If Josh decides to join his friends, he must feel that he gains at least $5 in fun by attending a fifth weekly session on the ice.
D. Josh should never attend Friday night open skate--he could get hurt and jeopardize his hockey career.

Answers

Answer:

C. If Josh decides to join his friends, he must feel that he gains at least $5 in fun by attending a fifth weekly session on the ice.

Answer:

C. If Josh decides to join his friends, he must feel that he gains at least $5 in fun by attending a fifth weekly session on the ice.

Explanation:

It is the most fun for him

Big Red Motors, Inc., employs 15 personnel to market its line of luxury automobiles. The average car sells for $75,000, and a 6 percent commission is paid to the salesperson. Big Red Motors is considering a change to the commission arrangement where the company would pay each salesperson a salary of $1,600 per mont plus a commission of 2 percent of the sales made by that salesperson. What is the amount of total monthly car sales at whit Big Red Motors would be indifferent as to which plan to select?

Answers

Answer: $600,000

Explanation:

The commission earned per car in the initial arrangement is:

= 6% * Total cars sales

With the second arrangement the amount spent would be:

= Salary of employees + commission

= (15 * 1,600) + (2% * total car sales)

= 24,000 + (2% * car sales)

Assuming total car sales is x, relevant expression is:

6% * x = 24,000 + (2% * x)

0.06x = 24,000 + 0.02x

0.06x - 0.02x = 24,000

0.04x = 24,000

x = 24,000 / 0.04

x = $600,000

Exercise 8-19 Amortization of intangible assets LO P4 Milano Gallery purchases the copyright on a painting for $418,000 on January 1. The copyright is good for 10 more years. The company plans to sell prints for 11 years. Prepare entries to record the purchase of the copyright on January 1 and its annual amortization on December 31.

Answers

Answer:

Jan 01

Dr Copyright $418,000

Cr Cash $418,000

Dec 31

Dr Amortization expense—Copyright $41,800

Cr Accumulated amortization—Copyright $41,800

Explanation:

Preparation of entries to record the purchase of the copyright on January 1 and its annual amortization on December 31.

Jan 01

Dr Copyright $418,000

Cr Cash $418,000

(To record purchase of copyright )

Dec 31

Dr Amortization expense—Copyright $41,800

Cr Accumulated amortization—Copyright $41,800

($418,000/10 years)

(To record amortization expense of copyright )

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