Answer:
the cash and cash equivalent is $29,420
Explanation:
The computation of cash and cash equivalent is given below:
Money market fund balance $2790
Cash in Bank Account $21,430
Cash in Petty cash funds $200
U.S Treasury bill purchased on Dec.15 $5,000
cash and cash equivalent $29420
Hence, the cash and cash equivalent is $29,420
The same is to be considered and relevant too
A manufacturing company has the following budgeted overhead costs: Indirect materials: $0.50 per unit; Utilities: $0.25 per unit; Supervisory salaries: $60,000; Building rent: $80,000. If the company expects to produce 200,000 units using 100,000 hours of direct labor, the standard overhead rate will be $
Answer:
Predetermined manufacturing overhead rate= $1.45 per unit
Explanation:
First, we will calculate the variable overhead per unit:
Unitary variable overhead= Indirect materials + Utilities
Unitary variable overhead= 0.5 + 0.25
Unitary variable overhead= $0.75 per unit
Now, the total fixed overhead, and fixed overhead rate:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Total fixed overhead= Supervisory salaries + Building rent
Total fixed overhead= 60,000 + 80,000
Total fixed overhead= $140,000
Predetermined manufacturing overhead rate= 140,000 / 200,000
Predetermined manufacturing overhead rate= $0.7 per unit
Finally, the total predetermined overhead rate:
Predetermined manufacturing overhead rate= 0.75 + 0.7
Predetermined manufacturing overhead rate= $1.45 per unit
blank is a crucial factor to small business success A. Location B. Financing C. Advertising D. legal advice
Answer:
Advertisement
Explanation:
Advertising
Sanford Co. sells $500,000 of 10% bonds on March 1, 2020. The bonds pay interest on September 1 and March 1. The due date of the bonds is September 1, 2023. The bonds yield 12%. Give entries through December 31, 2021.
Required:
Prepare a bond amortization schedule using the effective-interest method for discount and premium amortization. Amortize premium or discount on interest dates and at year-end.
Answer:
Sanford Co.
Bond Amortization Schedule
Period PV PMT Interest FV
1 $468,951.03 $25,000.00 $28,137.06 $472,088.09
2 $472,088.09 $25,000.00 $28,325.29 $475,413.38
Year #1 end
3 $475,413.38 $25,000.00 $28,524.80 $478,938.18
4 $478,938.18 $25,000.00 $28,736.29 $482,674.47
Year #2 end
5 $482,674.47 $25,000.00 $28,960.47 $486,634.94
6 $486,634.94 $25,000.00 $29,198.10 $490,833.04
Year #3 end
7 $490,833.04 $25,000.00 $29,449.98 $495,283.02
8 $495,283.02 $25,000.00 $29,716.98 $500,000.00
Year #4 end
Explanation:
a) Data and Calculations:
Face value of bonds = $500,000
Proceeds from bonds = $468,951
Bonds Discounts = $31.049
Coupon interest rate = 10%
Effective interest rate = 12%
N (# of periods) 8
I/Y (Interest per year) 12
PMT (Periodic Payment) 25000
FV (Future Value) 500000
Results
PV = $-468,951.03
Sum of all periodic payments $200,000.00
Total Interest $231,048.97
Beck Inc. and Bryant Inc. have the following operating data: Beck Inc. Bryant Inc. Sales $336,700 $1,092,000 Variable costs 135,100 655,200 Contribution margin $201,600 $436,800 Fixed costs 138,600 268,800 Income from operations $63,000 $168,000 a. Compute the operating leverage for Beck Inc. and Bryant Inc. If required, round to one decimal place.
Answer:
Beck Inc Operating leverage 3.2
Bryant Inc Operating leverage 2.6
Explanation:
Computation for the operating leverage for Beck Inc. and Bryant Inc
Using this formula
Operating leverage = Contribution margin/Income from operation
Let plug in the formula
Beck Inc Operating leverage = $201,600/ $63,000
Beck Inc Operating leverage= 3.2
Bryant Inc Operating leverage= $436,800/$168,000
Bryant Inc Operating leverage= 2.6
Therefore the operating leverage for Beck Inc. and Bryant Inc are:
Beck Inc Operating leverage 3.2
Bryant Inc Operating leverage 2.6
Which of the following is true of good salespeople?
A. They know how to oversell their product so the customer can't say no.
B. They have tenacity but know when to walk away and move on to the next sales prospect.
C. They make promises they may not be able to keep in order to secure a sale.
D. They don't leave voice mail messages.
Answer:
Correct answer is A, They know how to oversell their product so the customer can't say no. Explanation: Good salespeople are those who sell more and more of their company's product.
Comparing Three Depreciation Methods Dexter Industries purchased packaging equipment on January 8 for $249,400. The equipment was expected to have a useful life of four years, or 8,800 operating hours, and a residual value of $20,600. The equipment was used for 3,080 hours during Year 1, 1,848 hours in Year 2, 2,464 hours in Year 3, and 1,408 hours in Year 4. Required: 1. Determine the amount of depreciation expense for the four years ending December 31 by (a) the straight-line method, (b) the units-of-activity method, and (c) the double-declining-balance method. Also determine the total depreciation expense for the four years by each method. Round the answer for each year to the nearest whole dollar. Depreciation Expense Year Straight-Line Method Units-of-Activity Method Double-Declining- Balance Method Year 1 $fill in the blank 1 $fill in the blank 2 $fill in the blank 3 Year 2 $fill in the blank 4 $fill in the blank 5 $fill in the blank 6 Year 3 $fill in the blank 7 $fill in the blank 8 $fill in the blank 9 Year 4 $fill in the blank 10 $fill in the blank 11 $fill in the blank 12 Total $fill in the blank 13 $fill in the blank 14 $fill in the blank 15 2. What method yields the highest depreciation expense for Year 1
Answer:
Straight line :
Depreciation expense each of the four years is $57,200
total depreciation = $228,800
Double declining :
Year 1 = $124,700
Year 2 = $62350
Year 3 = $31,175
Year 4 = $15,588
Total depreciation expense = $233,813
Activity based depreciation
year 1 = $80,080
year 2 = $48,048
year 3 = $64,064
year 4 = $36,608
Total depreciation expense = $288,800
the deprecation method that yields the highest depreciation expense in year 1 is the double declining method
Explanation:
Straight line depreciation expense = (Cost of asset - Salvage value) / useful life
($249,400 - $20,600) / 4 = $57,200
Depreciation expense each of the four years is $57,200
total depreciation = $57,200 x 4 = $228,800
Depreciation expense using the double declining method = Depreciation factor x cost of the asset
Depreciation factor = 2 x (1/useful life) = 2/4
Year 1 = 2/4 x $249,400 = 124,700
book value = $249,400 - 124,700 = 124,700
Year 2 = 2/4 x 124,700 = 62350
Book value = 124,700 - 62350 = 62350
Year 3 = 2/4 x 62350 = 31,175
book value = 62350 - 31,175 = 31,175
Year 4 = 2/4 x 31,175 = 15,587.50
Addition of the depreciation expenses = $233,812.50
Activity method based on hours worked = (hours worked that year / total hours of the machine) x (Cost of asset - Salvage value)
($249,400 - $20,600) / 8,800 = 26
year 1 = 26 x 3,080 = $80,080
year 2 = 26 x 1,848 = $48,048
year 3 = 26 x 2,464 = $64,064
year 4 = 26 x 1,408 = $36,608
Addition of the depreciation expenses = $288,800
Your grandfather has offered you a choice of one of the three following alternatives: $11,500 now; $5,700 a year for five years; or $71,000 at the end of five years. Use Appendix B and Appendix D for an approximate answer, but calculate your final answer using the formula and financial calculator methods.
Required:
a. Assuming you could earn 9 percent annually, compute the present value of each alternative.
b. Which alternative should you choose?
Answer:
1. $11,500
2. $22,171.01
3. $46,145.13
option 3. This is because it has the highest present value
Explanation:
Present value is the sum of discounted cash flows
Present value can be calculated using a financial calculator
option 2
Cash flow each year from year 1 to 5 = $5,700
I = 9
PV = 22,171,01
OPTION 3
Cash flow in year 5 = 71,000
I = 9
PV = 46,145.13
To determine PV using a financial calculator take the following steps:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
A bookstore organizes its stock by topic. It has a mystery novel section, a romance novel section, a how-to-do-it section, a travel book section, etc. The bookstore is obviously using a _____ presentation. horizontal style/item usage book cover
Answer:
The correct answer is the second option: Item usage book cover.
Explanation:
To begin with, in the field of business management that focus specifically in the bookstores when they talk about an "item usage book cover" presentation it means that the managers decide to organize the stock by topic and that is related to the book cover and therefore to its item so that is why that they would have a mystery novel section, a romance novel section and much more of that. So every customer will understand inmediately that the bookstore is structured by the item of the book that could be easily recognize sometimes with its cover.
Makers Corp. had additions to retained earnings for the year just ended of $553,000. The firm paid out $191,000 in cash dividends, and it has ending total equity of $4.96 million. The company currently has 240,000 shares of common stock outstanding. a. What are earnings per share
Answer:
$1.51
Explanation:
Calculation to determine the earnings per share
Using this formula
Earnings per share = (Retained Earnings + Dividend paid out) / Common stock outstanding
Let plug in the formula
Earnings per share= ($553,000+$191,000)/240,000
Earnings per share=$362,000/240,000
Earnings per share= $1.51
Therefore Earnings per share is $1.51
For each of the following scenarios, indicate which of the four basic tax planning variables (entity, character, time period, jurisdiction) impacts after-tax value.
a. Aloha Corporation is considering building a new manufacturing facility in either State U or State P. State U has a 10 percent state income tax rate. State P has a 15 percent state income tax rate, but offers a tax holiday for new business investment that would exempt up to $250,000 of Aloha’s earnings from state income tax for the first five years of operations in State P.
b. Mary wishes to help her nephew, Gill, pay his college tuition. Instead of giving Gill cash, Mary gives him bonds earning $10,000 annual interest income. Mary’s marginal tax rate is 35 percent and Gill’s marginal tax rate is 15 percent.
c. Congress has recently enacted a decrease in corporate tax rates that will take effect at the beginning of next year. Grant Company, a cash basis taxpayer, is planning to pay expenses prior to year-end in order to maximize its tax savings in the current year.
d. Will has $50,000 to invest in the stock market. He is considering two alternatives. Stock A pays annual qualifying dividends of 6 percent. Stock B pays no dividends but is expected to increase in value at a rate of 5 percent per year. Will would hold either investment for a minimum of four years. Will’s marginal tax rate on ordinary income is 35 percent.
Answer:
Letter D is the answer
Explanation:
trust me bro
Petrox Oil Co. is considering a project that will have fixed costs of $12,000,000. The product will be sold for $37.50 per unit and will incur a variable cost of $12.80 per unit.
Given Petrox's cost structure, it will have to sell __________ units to break even on this project (Q_BE).
Petrox Oil Co.'s marketing sales director doesn't think that the market for the firm's goods is big enough to sell enough units to make the company's target operating profit of $15,000,000. In fact, she believes that the firm will be able to sell only about 150,000 units. However, she also thinks the demand for Petrox Oil Co.'s product is relatively inelastic, so the firm can increase the sale price. Assuming that the firm can sell 150,000 units, what price must it set to meet the CFO's EBIT goal of $15,000,000?
a. $192.80
b. $221.72
c. $241.00
d. $202.44
Answer:
Fixed costs = $12,000,000
Selling price = $37.50
Variable cost = $12.80
hope this helps
At the given cost structure, Petrox have to sell 485,830 units to break-even on this project .The selling price to to be set to meet the profit of $15,000,000 is $192.80. Thus, the correct answer is option A.
What is break-even ?The break-even point occurs when total cost and total revenue are equal. Though opportunity costs have been paid and capital has received the risk-adjusted, expected return, there is no net loss or gain. In short, all necessary costs are met, and there is no profit or loss.
The break even units is calculated as,
Break-even units = Fixed Cost / Contribution Margin
= Fixed Cost / Sale Price - Variable Cost
= $12,000,000/ $37.50-$12.80
= 485,830 units
The price that needed to be set is calculated as,
Target units=Fixed Costs+ Target EBIT/selling price-variable cost
Assume selling price is X
150,000= ($12,000,000+$15,000,000) / X-12.80
150,000=27,000,000 / X-12.80
150,000× (X-12.80)=27,000,000
X - 12.80=27,000,000 / 150,000
X-12.80 = 180
X = 180+12.80
X= $192.80
Therefore, the break-even units is 485,830 and the the price to be set is $192.80 to meet the CFO's EBIT goal of $15,000,000.
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At December 31, Hawke Company reports the following results for its calendar year.
Cash sales $1,432,910
Credit sales $3,376,000
In addition, its unadjusted trial balance includes the following items.
Accounts receivable $1,022,928 debit
Allowance for doubtful accounts $11,560 debit
Required:
Prepare the adjusting entry for this company to recognize bad debts
The adjusting entries for acknowledging the bad debts would be:
a). Bad Debts Expense $50 640
Allowance for Doubtful Accounts $50 640
b). Bad Debts Expense $48089.1
Allowance for Doubtful Accounts $48089.1
Bad debts:
Bad debts are described as debts that are unable to be recovered from their respective debtors.The key reasons for this could be:
The debtor is bankrupt and cannot pay the amount.The debtor flees away and thus, can't be compelled to pay.The given amounts are obtained as follows:
a). Given that,
Bad debts is 1.5% of credit sales.
Credit Sales = $3,376,000
Bad debts = 1.5% of $3,376,000
∵ Bad debts = 1.5/100 * $3,376,000
= $50 640
b). Given that,
Bad debts = 1 % of total sales.
Total Sales = Credit sale + Cash sale
= $3,376,000 + $1,432,910
= $4808910
Bad debts = 1% of 4808910
∵ Bad debts = 1/100 * $4808910
= $48089.1
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The stock brokerage firm of Blank, Leibowitz, and Webber has analyzed and recommended two stocks to an investor. The investor was interested in factors such as short-term growth, intermediate growth, and dividends rates. The data on each stock is as follows: STOCK ($) FACTOR LOUISIANA GAS AND POWER TRIMEX INSULATION COMPANY Short-term growth potential, per dollar invested 0.36 0.24 Intermediate growth potential (over next 3 years), per dollar invested 1.80 1.50 Dividend rate potential 4% 8%The investor has the following goals: an appreciation of no less than $720 in the short term, an appreciation of at least $5000 in the next three years, and a dividend income of at least $200 per year. What is the smallest investment the investor can make to meet these three goals.
Motors are assembled in a process with two resources. The first resource has a capacity of 2 motors per hour. The capacity of the second resource is 4.5 motors per hour. Demand for this process is 2.3 motors per hour.
Instruction: Round your answer to three decimal places.
What is the cycle time of this process (in minutes)? _______minutes
Answer: 26.1 minutes
Explanation:
The cycle time is calculated by the formula:
= Production time available / Desired output
Production time available = 1 hour as production is per hour.
1 hour = 60 minutes
Desired output is the demand per hour from the process
Cycle time = 60 / 2.3
= 26.1 minutes
Choose the correct statements about the ROC curve.
A. By plotting the true-positive rate against the false-positive rate for different threshold values, the ROC curve can be used to select the optimal model.
B. ROC stands for Receiver Operating Characteristic curve, which was originally developed to detect enemy aircrafts on radar.
C. The ROC curve is a useful diagnostic tool for determining the optimal classification model.
D. The ROC curve was originally developed to optimize healthcare and detect congestive heart failure readmission rate.
Answer:
B
Explanation:
The ROC stands for Reviever Operating Characteristics curve ehic was originally developed to detect enemy aircrafts on reader
The correct statement about the ROC curve is that ROC stands for the Receiver Operating Characteristic curve, which was originally developed to detect enemy aircraft on radar. Thus, option B is correct.
What is a curve?A curve can be defined as the relation that can be between the teo element. this is represented by the graph that is formed on the basis of the change in the elements that are surrounding it. If there is a change in one thing then there can also be a change in another and it may have an effect.
The best accuracy and false alarm rate for a classification algorithm at the approaches suggested are calculated and plotted to create the ROC curve.
The Receiver Operating Characteristic curve, abbreviated ROC curve, was created to find hostile aircraft using radar. Therefore, option B is the correct option.
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Rosina purchased one 15-year bond at par value when it was initially issued. This bond has a coupon rate of 7 percent and matures 13 years from now. If the current market rate for this type and quality of bond is 7.5 percent, then Rosina should expect: the bond issuer to increase the amount of all future interest payments. the yield to maturity to remain constant due to the fixed coupon rate. to realize a capital loss if she sold the bond at today's market price. today's market price to exceed the face value of the bond. the current yield today to be less than 7 percent.
Answer:
to realize a capital loss if she sold the bond at today's market price.
Explanation:
Given that
NPER is 13
RATE is 7.5%
PMT is 7% of $1,000
Future value be $1,000
We need to find out the present value
So,
The current price of the bond is:
=PV(7.5%,13,7%*1000,1000)
=$959.37
Now if she wants to sell the bond now, so the value should be less than the face value due to which there should be the capital loss
which of the following quotes is the best way to tell your boss that you can't accept a new assignment right now?
a. I would like to work on this. but if I take this on I won't be able to meet my current deadline.
b. you know I already have this other deadline
c. I just don't know if I can get this all done
d. I don't have time sorry
Answer:
a
Explanation:
it would be fine hopefully
The correct quotes are the best way to tell your boss that you can't accept a new assignment right now is "I would like to work on this. But if I take this on, I won't be able to meet my current deadline". Thus, option (a) is correct.
What is assignment?An assignment is a judicial word used in the context of contract and property law. Assignment is the process through which one person, the assignor, passes rights or advantages to another, the assignee.
Assignment is providing someone to a specific job or piece of labor, or assigning someone to a specific location to complete a job.
The simplest approach to inform your supervisor that you can't take on a new job right now is to say, "I'd want to work on this, but if I take it on, I won't be able to fulfill my present deadline." Therefore, it can be concluded that option (A) is correct.
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Suppose that an additional 350 hours per week can be obtained from the milling machines by working overtime. The incremental cost would be $2.00 per hour. What would be the allowable increase(from the excel sensitivity report) in overtime when compared to additional hours that can be obtained
Solution :
It is given that :
Additional time obtained per week from milling machines = 350
The incremental cost = $ 2 per hour
Therefore, the allowable increase for milling operation is 400.
This indicates that we can accommodate additional constraint RHS of [tex]200[/tex] hours.
Also we have to consider the impact on the profit of 2.25 which is an incremental cost of [tex]1.5[/tex] is well affordable.
Conducting a search of the story is part of store closing duties why
Searching for the store is part of store closing duties. Why?
A. To look for empty boxes
B. To ensure that all trash has been removed
C. To make sure someone is not hiding
D. To make sure all merchandise is on the sales floor
Answer:
B. To ensure that all trash has been removed
Explanation:
The purpose of conducting a search of the store which is part of store closing duties is to ensure no detail is overlooked such as removing all the trashes available and eventually avoiding more work for the next morning.
In some other cases, it is also an opportunity to clear the corridors or spaces of any merchandise, carts, or litter around the floors.
List three (3) distinctions between limited liability partnership and conventional partnership using statute and decided cases.
If you're operating as a limited partnership, the general partner has unlimited liability for company losses and debts, while a limited partner has limited liability protection against company debts and losses. ... In an LLP, all partners have limited liability protection against company obligations and debts.
If the average annual rate of return for common stocks is 11.7 percent, and 4.0 percent for U.S. Treasury bills, what is the average market risk premium?
Answer:
7.7%
Explanation:
Risk premium is the return an investor would want for holding a risky bond. It is the excess return earned over holding a risk free bond
Risk premium = return on risky asset - return on U.S. Treasury bills
The U.S. Treasury bills is considered to be risk free because the US government cannot default
On the other hands, stocks are risky because companies can default on payment of dividends due to various reasons e.g. insolvency
11.7 - 4 = 7.7%
Bill Johnson, sales manager, and Diane Buswell, controller, at Current Designs are beginning to analyze the cost considerations for one of the composite models of the kayak division. They have provided the following production and operational costs necessary to produce one composite kayak.
Kevlar $250 per kayak
Resin and supplies $100 per kayak
Finishing kit (seat, rudder, ropes, etc.) $170 per kayak
Labor $420 per kayak
Selling and administrative expenses—variable $400 per kayak
Selling and administrative expenses—fixed $119,700 per year
Manufacturing overhead—fixed $240,000 per year
Bill and Diane have asked you to provide a cost-volume-profit analysis, to help them finalize the budget projections for the upcoming year. Bill has informed you that the selling price of the composite kayak will be $2,000.
(a) Calculate variable costs per unit.
Variable cost per unit $
Bill Johnson, sales manager, and Diane Buswell, co
(b) Determine the contribution margin per unit.
Contribution margin per unit $
Bill Johnson, sales manager, and Diane Buswell, co
(c) Using the contribution margin per unit, determine the break-even point in units for this product line.
Break-even point
Bill Johnson, sales manager, and Diane Buswell, co
units
(d) Assume that Current Designs plans to earn $270,600 on this product line. Using the contribution margin per unit, calculate the number of units that need to be sold to achieve this goal.
Number of units
Bill Johnson, sales manager, and Diane Buswell, co
units
(e) Based on the most recent sales forecast, Current Designs plans to sell 1,000 units of this model. Using your results from part (c), calculate the margin of safety and the margin of safety ratio. (Round margin of safety ratio to 1 decimal place, e.g. 25.5%.)
Margin of safety $
Bill Johnson, sales manager, and Diane Buswell, co
Margin of safety ratio
Bill Johnson, sales manager, and Diane Buswell, co
%
By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor.
(a) Calculate variable costs per unit.
Variable cost per unit $
Bill Johnson, sales manager, and Diane Buswell, co
(b) Determine the contribution margin per unit.
Contribution margin per unit $
Bill Johnson, sales manager, and Diane Buswell, co
(c) Using the contribution margin per unit, determine the break-even point in units for this product line.
Break-even point
Bill Johnson, sales manager, and Diane Buswell, co
units
(d) Assume that Current Designs plans to earn $270,600 on this product line. Using the contribution margin per unit, calculate the number of units that need to be sold to achieve this goal.
Number of units
Bill Johnson, sales manager, and Diane Buswell, co
units
(e) Based on the most recent sales forecast, Current Designs plans to sell 1,000 units of this model. Using your results from part (c), calculate the margin of safety and the margin of safety ratio. (Round margin of safety ratio to 1 decimal place, e.g. 25.5%.)
Margin of safety $
Bill Johnson, sales manager, and Diane Buswell, co
Margin of safety ratio
Bill Johnson, sales manager, and Diane Buswell, co
%
Answer:
a. Particulars Amount$
Kevlar per kayak 250
Resin and Supplies per kayak 100
Finishing Kit per kayak 170
Labor per Kayak 420
Variable selling & admin. exp. per kayak 400
Total variable cost per kayak 1,340
b. Contribution margin per unit = Selling price per unit – Variable cost per unit
Contribution margin per unit = $2,000 per unit - $1,340 per unit
Contribution margin per unit = $660 per unit
c. Break-even point in units = Total fixed costs/ Contribution margin per unit
Break-even point in units = ($ 119,700 + $240,000) / $660 per unit
Break-even point in units = 545 units
d. Number of units to be sold = (Total Fixed cost + Target Profit)/ Contribution margin per unit
Number of units to be sold= ($119,700 + $240,000 + $270,600) / $660 per unit
Number of units to be sold = 955 units
So therefore, the company needs to sell 955 units in order to achieve target profit of $270,600.
. produces 1000 packages of fruit sushi per month. The sales price is $5 per pack. Variable cost is $1.50 per unit, and fixed costs are $1800 per month. Management is considering adding a chocolate coating to improve the value of the product by making it a dessert item. The variable cost will increase from $1.50 to $1.90 per unit, and fixed costs will increase by 10%. The CEO wants to price the new product at a level that will bring operating income up to $4000 per month. What sales price should be charged
Answer:
$7.88
Explanation:
The computation is given below:
Sales price is
= ( Total sales revenue ÷ packages sold)
And,
Total sales revenue is
= ( Total Cost + Operting income )
And,
Total Cost = ( Variable Cost + Fixed cost)
Now
Variable cost = 1,000 packages × $1.90 per unit
= $1,900
And,
Fixed cost = $1,800 × 110%
= $1,980
so
Total cost = $1,900 + $1,980
= $3,880
Now
Total sales revenue is
= $3,880 + $4,000
= $7,880
Now
Sales price = $7,880 ÷ 1,000 packages
= $7.88
You purchase a digital camera for $495.00, a case for $38.50, a zoom lens for $216.45, and a
memory card for $74.95. The sales tax is 7.15 percent.
12. What is the total price of your purchase before sales tax?
A. S824.90
B. $749.95
C. $883.88
D. $801.25
All of the following will improve a firm's liquidity position except: Answer A)increase long-term debt and invest the money in marketable securities B)increase accounts receivable turnover C)increase inventory turnover D)increase the average collection period
Answer:
i think answer B is right
but i am not sure
Ms. Colonial has just taken out a $150,000 mortgage at an interest rate of 6 percent per year. If the mortgage calls for equal monthly payments for 20 years, what is the amount of each payment? (Assume monthly compounding or discounting.)
How do you solve this w/o a financial calculator?
Answer:
1. The monthly payment is:
= $1,074.65
2. To solve this without a financial calculator, you will calculate the future value of the $150,000 at a discount rate of 0.5% (6%/12) for 240 months. Then the calculated Future Value is divided by 240 to obtain the monthly payment.
Explanation:
a) Data and Calculations:
Mortgage = $150,000
Interest rate = 6% per year
Monthly payments = 240 (20 * 12)
Period of mortgage = 20 years
N (# of periods) 240
I/Y (Interest per year) 6
PV (Present Value) 150000
FV (Future Value) 0
Results
PMT = $1,074.65
Sum of all periodic payments = $257,915.18
Total Interest = $107,915.18
Without a financial calculator (using future value table):
Future value factor of 0.5% for 240 = 1.7194345
Future value of $150,000 = $257,915.18 ($150,000 * 1.7194345)
Monthly payment = $1,074.65 ($257,915/18/240)
El 5 de diciembre se solicitó un préstamo por USD.275,000, negociado al 6.5%
de interés anual a un plazo de 5 años. Los pagos de capital e intereses se harán
mensualmente.
Professional service organizations include __________.
Answer:
Accenture, Ernst and Young, KPMG, Deloitte.
Can you help me
please
Answer:
united nation childrens funds
Explanation:
i hope it helpful
Entries for Discounted Note Payable A business issued a 90-day note for $57,000 to a creditor on account. The note was discounted at 8%. Assume a 360-day year.
a. Journalize the entry to record the issuance of the note. For a compound transaction, if an amount box does not require an entry, leave it blank. If necessary, round to one decimal place. Accounting numeric field
b. Journalize the entry to record the payment of the note at maturity.
Answer:
A. Dr Accounts payable 55,830
Dr Interest expense 1170
Cr Notes payable 57,000
B. Dr Notes payable 57,000
Cr Cash 57,000
Explanation:
A. Preparation of the journal entry to record the issuance of the note.
Dr Accounts payable 55,830
(57,000-1170)
Dr Interest expense (57,000*8%*90/360) 1170
Cr Notes payable 57,000
(To record the issuance of the note)
B. Preparation of the journal entry to record the payment of the note at maturity.
Dr Notes payable 57,000
Cr Cash 57,000
(to record the payment of the note at maturity)
