A change in an accounting estimate is:__________
a) Reflected in past financial statements.
b) Reflected in future financial statements and also requires modification of past statements.
c) Reflected in current and future years' financial statements, not in prior statements.
d) Not allowed under current accounting rules.
e) Considered an error in the financial statements.
California laws requires that renters be paid interest on their security deposits. You are considering renting a one bedroom uni at The Sterling Heights Apartments, where a $1,500 security deposit is required. You plan to live there about three years. If you expect 2 percent a year how much interest should you expect to receive when you move out in three years
All of the following are true regarding implied agreements EXCEPT which one?
An implied agreement is based on actions or behaviors.
An implied agreement is based on a formal
agreement
With an implied agreement it is possible that the other party did not intend to be bound.
With an implied agreement there is an increased chance of confusion.
Answer:
An implied agreement is based on a formal agreement.
Explanation:
A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.
There are different types of contract in business and these includes: fixed-price contract, cost-plus contract, bilateral contract, implied contract, unilateral contract, adhesion contract, unconscionable contract, option contract, express contract, executory contract, etc.
Mutual assent is a legal term which represents an agreement by both parties to a contract. When two parties to a contract both have an understanding of the parameters, terms and conditions surrounding a contract, it ultimately implies that they are in agreement; this is generally referred to as mutual assent.
Simply stated, mutual assent connotes agreement, acceptance and consent to a contract by both parties.
An implied contract can be defined as an informal contract that exists based on an assumption or understanding between two or more parties, rather than on terms that are formally and specifically defined.
This ultimately implies that, an implied agreement is not based on a formal agreement but on assumptions or understanding between the parties involved.
The market will overproduce goods that have external costs because Group of answer choices Producers experience higher costs than society Producers experience lower costs than society Producers cannot keep these goods from consumers who do not pay, so they have to produce greater amounts The government is not able to produce these goods
Answer:
Producers experience lower costs than society
Explanation:
In the case when the market excess produce the goods that contains the external cost so it should be because of producers would have less cost as compared to the society that means the private equilibrium cost should be less than the social equilibrium cost
So as per the given situation, the above statement should be true
You would like to have enough money saved to receive a growing annuity for 25 years, growing at a rate of 4 percent per year, with the first payment of $60,000 occurring exactly one year after retirement. How much would you need to save in your retirement fund to achieve this goal
The question is incomplete. The complete question is :
You would like to have enough money saved to receive a growing annuity for 25 years, growing at a rate of 4 percent per year, with the first payment of $60,000 occurring exactly one year after retirement. How much would you need to save in your retirement fund to achieve this goal? (The interest rate is 12%.)
Solution :
Given data :
pv of growing annuity, i = 0.04
Rate of interest, r = 0.12
Therefore,
[tex]$pv=\frac{60000}{(1+r) } + \frac{60000(1+i)}{(1+r)^2 } + \frac{60000(1+i)^2}{(1+r)^3 } + ...+ \frac{60000(1+r)^{24}}{(1+r)^{25} } $[/tex]
[tex]$pv=\frac{\frac{60000}{(1+r)}\left(1-\left(\frac{1+i}{1+r}\right)^{25}\right)}{1-\left(\frac{1+i}{1+r}\right)}$[/tex]
[tex]$pv=\frac{\frac{60000}{(1.12)}\left(1-\left(\frac{1.05}{1.12}\right)^{25}\right)}{1-\left(\frac{1.04}{1.12}\right)}$[/tex]
[tex]$pv = \frac{60000}{1.12} \times 11.80461368$[/tex]
[tex]$pv = \$ 632390.0191$[/tex]
pv = $ 632390.02 (rounding off)
Recurring upswings and downswings in an economy's real GDP over time are called Group of answer choices recessions. total product oscillations. business cycles. output yo-yos.
Answer:
Business cycles
Explanation:
Business cycle is the correct answer because when the economy grows then the GDP of the country also grows. While the decrease in economic activities leads to slow down the economy and then GDP of the country falls. Therefore, the complete circle of GDP boost and then contract is called the business cycle.
ngân hàng tiến hành xóa nợ như thế nào
Answer:
How does the bank write off the debt?
The Milken Company is offering you an investment that promises you $10,000 at the end of 7 years if you invest $ 6,330 today. What is the annual return on this investment?
Answer:
The Milken Company
The annual return on this investment is:
= 8.3%
Explanation:
a) Data and Calculations:
Total returns at the end of 7 years = $10,000
Total investment today = 6,330
Total returns from the investment = $3,670
Annual return = $524 ($3,670/7)
= 8.3% ($524/$6,330 * 100)
b) The annual return on this investment is the total returns of $3,670 annualized to 7 years. This gives an average annual return of $524, which is then used to calculate the percentage return, weighing it against the investment cost of $6,330.
A(n) ______ is a network that links the intranets of business partners via the Internet in such a way that the result is a virtually private network.a. intranet b. browser c. extranet
Answer:
c. extranet
Explanation:
The controlled, and the private network that permits the third-party partners in order to received the information that related to the particualr company and also it can be done without any access for an overall network of an organization
So as per the given situation, it is an extranet
Hence, the same is to be considered
The index weighting that results in portfolio weights shifting away from securities that have increased in relative value toward securities that have fallen in relative value whenever the portfolio is rebalanced is most accurately described as:_________
a) float-adjusted market-capitalization weighting.
b) fundamental weighting.
c) equal weighting.
Answer: B. Fundamental weighting.
Explanation:
A fundamentally weighted index refers to a type of equity index whereby the components that are chosen based on the fundamental criteria like the dividend rates, book value, revenue, dividend rates, etc.
Fundamental weighting is the index weighting which results in portfolio weights shifting away from securities that have increased in relative value toward securities that have fallen in relative value whenever the portfolio is rebalanced.
Emma noticed that she was almost out of gas, so she pulled into the nearest gas station and filled up her tank. Emma's decision on which gas to purchase is characterized by
Answer: a low level of purchase involvement
Explanation:
A low-involvement purchase simply means a decision making process that's abridged. In such situations, the buyer hardly does any information gathering, and he or she makes a simple and straightforward decision.
Since when Emma noticed that she was almost out of gas, she pulled into the nearest gas station and filled up her tank. Emma's decision here is straightforward as she doesn't analyse other alternatives. Therefore, it's a low level of purchase involvement.
On January 1, 20Y2, Hebron Company issued a $175,000, five-year, 8% installment note to Ventsam Bank. The note requires annual payments of $43,830, beginning on December 31, 20Y2.Journalize the entries to record the following:
Answer and Explanation:
The journal entries are shown below:
1. Cash Dr $175,000
To note payable $175,000
(being note payable is issued)
2. Interest expense Dr (8% of $175,000) $14,000
To interest payable $14,000
(being interest expense is recorded)
3. Interest payable $14,000
Note payable $29,830
To cash $43,830
(being cash paid is recorded)
4. Interest expense $6,253
To interest payable $6,253
(being interest expense is recorded)
5. Interest payable $6,253
Note payable $37,577
To cash $43,830
(being cash paid is recorded)
What is the term for a portion of a company's profit paid to common and preferred shareholders? For example: a stock selling for $20 per share has an annual ________ of $1 per share, yielding the investor guaranteed gains of 5% annually.
Answer:
Dividend
Explanation:
The dividend is the amount of the portion that should be paid to the common and preferred shareholders
Like in the question it is mentioned that the stock has been sold for $20 per share that contains the annual dividend of $1 per share where the investor guaranteed of gaining 5% on annual basis
So it is a dividend
The same is relevant and considered too
Nathan and Diana are married and have three married children and seven minor grandchildren. For tax year 2020, what is the maximum amount they can give to the family (including the sons- and daughters-in-law) without using any of their unified transfer tax credit
Answer:
Maximum amount that can be given to family (including the sons- and daughters-in-law) without using unified transfer tax credit is $390,000.
Explanation:
Given the data in the question;
Nathan and Diana are married and they have 3 married children, meaning Nathan and Diana also have 3 daughters/sons in law married to their children. In addition, they have 7 minor grand children.
Number of donees will be ⇒ 3 + 3 + 7 = 13
Now, we know that; The annual gift tax exclusion for 2019-2020 is $15,000 per donee or individual for every tax payer while that of married couple is $30,000.
Meaning Nathan and Diana can give $30,000as a gift to each of their family members without using any of their unified transfer tax credit.
Hence,
Maximum amount that can be given to family (including the sons- and daughters-in-law) without using unified transfer tax credit will be;
⇒ 13 × $30,000
= $390,000.
Strait Co. manufactures office furniture. During the most productive month of the year, 3,200 desks were manufactured at a total cost of $82,800. In the month of lowest production, the company made 1,290 desks at a cost of $64,900. Using the high-low method of cost estimation, total fixed costs are a.$52,816 b.$82,800 c.$64,900 d.$17,900
Answer:
a.$52,816
Explanation:
Calculation to determine total fixed costs
First step
Variable cost per unit = (Highest activity cost - Lowest activity cost)/(Highest activity - Lowest activity)
Variable cost per unit= ( 82,800-64,900)/(3,200-1,290)
Variable cost per unit= 17,900/1910
Variable cost per unit= $9.37 per unit
Now let determine the Fixed cost
Fixed cost = Highest activity cost - Highest activity x Variable cost per hour
Fixed cost= $82,800 - 3,200 x 9.37
Fixed cost= $82,800-$29,984
Fixed cost= $52,816
Therefore Using the high-low method of cost estimation, total fixed costs are $52,816
All of the following are symptoms of organizations struggling with strategy disconnect and unclear priorities EXCEPT Multiple Choice inadequate resources. people are working on multiple projects and feel inefficient. frequent conflicts between managers. confused employees regarding which projects are more important. not enough projects within the portfolio to make a profit.
Answer:
All of the following are symptoms of organizations struggling with strategy disconnect and unclear priorities EXCEPT
not enough projects within the portfolio to make a profit.
Explanation:
Strategy disconnect does not support an organization to be consistent in its actions at every level. However, where the strategy is shared across board, there is an integrated and coordinated attempt at long-term planning with the organization positioned to exceed the needs of its customers and to achieve success. With strategy connect, the organization responds well to changes in its external environment and is able to allocate scarce resources for the improvement of its competitive position.
The February contribution format income statement of XYZ Corporation appears below: Sales $ 169,500 Variable expenses 96,000 Contribution margin 73,500 Fixed expenses 58,000 Net operating income $ 15,500 The degree of operating leverage is closest to:
Answer:
degree of operating leverage= 4.742
Explanation:
Giving the following information:
Contribution margin 73,500
Net operating income $ 15,500
To calculate the degree of operational leverage, we need to use the following formula:
degree of operating leverage= Total contribution margin / operating income
degree of operating leverage= 73,500 / 15,500
degree of operating leverage= 4.742
A company that wanted to provide a single, unified entry point to its network that would allow different types of users access to different types of resources could do so by establishing a(n):____________.
A. enterprise portal.
B. broadband interface.
C. intranet.
D. mainframe network.
Answer: A. Enterprise portal
Explanation:
Enterprise portals is a relatively new type of information portal that works to integrate information and other processes in the company and allow different users in a company access to this information through different types of resources.
This ensures that the employees in the company can get information that they need in a timely and efficient manner and is the reason why enterprise portals are becoming increasingly popular.
The enterprise portal are used by company's that wanted to provide a single or unified entry point to its network to allow users access to different resources.
The Enterprise portals is an information portal that integrate information and processes in the company and allow users have access to this information..
The enterprise portals ensures that the employees in the company can get information that they need in a timely and efficient manner.
So, the enterprise portal are used by company's that wanted to provide a single or unified entry point to its network to allow users access to different resources.
Therefore, the Option A is correct.
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The most likely effect of an decrease in income tax rates would be a(n): increase in interest rates. decrease in the supply of loanable funds. decrease in the savings rate. all of the above would occur none of the above would occur
Answer: none of the above would occur
Explanation:
When there are lower tax rates, people will have more disposable income left aft paying taxes. It is from this disposable income that people are able to save so if it increases, they will be able to save more.
When they save more, supply of loanable funds will increase because loanable funds come from savings. Interest rates would therefore decrease because there are now more loanable funds.
Income tax rate are taxes placed or collected on income of people. The most likely effect of an decrease in income tax rates would be none of the above would occur
Lower tax rates often leads to the following:
An increase the demand for assets An increase in the supply of labor.The economy will react to it by having with lower interest rates, higher employment, higher investment and faster economic growth. It often increase the spending power of consumers It also increase aggregate demand, resulting to higher economic growth.Learn more from
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Sheridan Company can produce 100 units of a component part with the following costs: Direct Materials $22000 Direct Labor 6500 Variable Overhead 20000 Fixed Overhead 11000 If Sheridan Company can purchase the component part externally for $55000 and only $4000 of the fixed costs can be avoided, what is the correct make-or-buy decision
Answer:
If the company makes the component, it will save $2,500.
Explanation:
To determine which option is better, we need to calculate the total cost of each option and choose the cheapest one. We will take into account the avoidable fixed overhead cost, thus the rest is inconsequential to the decision-making process.
Make in-house:
Direct material= $22,000
Direct labor= $6,500
Variable overhead= $20,000
Avoidable fixed overhead= $4,000
Total cost= $52,500
Buy:
Total cost= $55,000
If the company makes the component, it will save $2,500.
The Accounts Receivable account of Brownstone Company has the following postings: Accounts Receivable Calculate the ending balance of the account. A. debit B. credit C. debit D. debit
Answer:
D. $16,000 debit
Explanation:
As we know Account receivable is a current asset account that has a normal debit balance. A debit entry in this account would increase the balance of the account and a credit entry in this account would decrease the account balance.
In the given question, There are two entries in the debit side.
Hence, The debit balance should be
Debit side total = 20,000 + 2,000 = 22,000
There is a credit entry in the account that will decrease the account balance
Account ending balance = 22,000 - 6,000
Account ending balance = 16,000
As the balance of the debit side is greater than the credit side. The answer will be debit 16,000
The question is incomplete
The complete question is provided in the attachement and the answer is made accordingly.
At the beginning of the recent period, there were 960 units of product in a department, 35% completed. These units were finished and an additional 5,200 units were started and completed during the period. 880 units were still in process at the end of the period, 25% completed. Using the weighted average method, the equivalent units produced by the department were:
Answer:
Using the weighted average method, the equivalent units produced by the department were:
= 5,500 units.
Explanation:
a) Data and Calculations:
Units Conversion
Beginning inventory 960 35%
Additional units started 5,200
Units available 6,160
Ending inventory 880
Units completed 5,280
Equivalent units of production:
Units completed 5,280 5,280 (100%)
Ending inventory 880 220 (25%)
Equivalent units of production 5,500
a. A consulting firm that is for sale has an annual operating cash flow of $2,000,000 assuming no future growth in cash flow, what is the value of this business at a 50% cost of capital.
Answer: $4,000,000
Explanation:
Based on the information given in the question, the value of this business at a 50% cost of capital will be calculated thus:
= Annual cash flow / Cost of capital
= $2,000,000 / 50%
= $2,000,000 / 0.5
= $4,000,000
Therefore, the value of the business is $4,000,000.
A student takes out a $10,000, 10-year loan with two possible repayment plans, (i) immediate repayment or (ii) a grace period during the college years. The student takes 5 years to graduate. The interest rate is 8%, compounded annually and the loan is paid off as a yearly lump sum. Since the bank is a for-profit business (beholden to its shareholders and required to maximize profit), the bank intends to receive the same return on this loan either way. How much are the annual payments under option (i) and option (ii)
Answer and Explanation:
The calculation is given below:
(i) Immediate Repayment:
Let us assume the annual repayments be $ P
So
$10,000 = P × (1 ÷ 0.08) × [1 - {1 ÷ (1.08)^(10)}]
$10,000 = P × 6.71008
P = $10,000 ÷ 6.71008
= $1490.3
(ii) Grace Period of 5 years:
Let us assume the annual repayments be $N
Now
Accumulated Loan Value after 5 years is
= $10,000 × (1.08)^(5)
= $14,693.3
So, $14,693.3 = N × (1 ÷ 0.08) × [1-{1 ÷ (1.08)^(10)}]
$14,693.3 = N × 6.71008
N = 14693.3 ÷ 6.71008
= $2189.74
The Kretovich Company had a quick ratio of 1.0, a current ratio of 3.5, a days' sales outstanding of 36.5 days (based on a 365-day year), total current assets of $980,000, and cash and marketable securities of $115,000. What were Kretovich's annual sales
Answer:
Total sales = $1650000
Explanation:
Below is the given values:
Quick ratio = 1.0
Current ratio = 3.5
Current assets = $980000
Marketable security = $115000
Current ratio=Current assets/Current liabilities
3.5 = 980000 / Current liabilities
Current liabilities = 980000/3.5
Current liabilities = 280000
Quick ratio=Quick assets/Current liabilities
1.0 =Quick assets/280000
Quick assets = 1.0 x 280000 = 280000
Quick assets = Marketable security + Accounts receivable
Accounts receivable = 280000 - 115000
Accounts receivable = $165000
Days sales outstanding=(Accounts receivable/Total sales)*Days in a period
36.5 = (165000 / total sales ) x 365
Total sales=$165,000/(36.5 days/365 days
Total sales = $1650000
Entrepreneurs who start businesses because they cannot find work any other way are______.?
1. Necessity entrepreneurs
2.Serial entrepreneurs
3.Opportunity entrepreneurs
4. Corporate cast-off
Answer:
Entrepreneurs who start businesses because they cannot find work any other way are______.
4. Corporate cast-off
Explanation:
Corporate cast-off includes former corporate executives who were laid off from their corporate positions as a result of corporate downsizing. Not finding any other corporate employment, they decide to establish their own businesses, using their saved resources and borrowings. They now constitute a sizeable number of small businesses, which eventually grow to medium-sized corporations. Some of them engage in consultancy services depending on their areas of specialty.
One observation we made this week was that consumer surplus is maximized at a price of zero. We also learned that this is impractical for market provided goods. If this is the case (and it is), why then do we choose free markets over the public provision of an important good like high-speed internet?
Answer:
The description of the given problem is described in the below explanation segment.
Explanation:
A supply as well as the demand-based economy with hardly any government regulation whilst general populace provisioning is fully controlled by the government, which would be aimed at satisfying person's welfare programs, is considered as the free market.
For commodities like the slightly elevated internet, we support free market rather than governmental provision for the aforementioned purposes:
In something like a free market system, buyers decide the final success or failure of the items.Throughout the event of general populace procurement then perhaps the capitalist economy, there seem to be numerous failures such as time delays as well as misinformation.which of the following would be included in the set of electrical plans for individual residence?
A. Individual romex cables
B. Power panels to be installed
C. routes of cables
D. Wire sizes
Answer:
A. Individual romex cables
Explanation:
Individual romex cables would be included in the set of electrical plans for individual residence.
This is because they are a non-metallic sheathed cables, and they are flexible electrical cables which are popularly used in residential setups.
This cable comes with two insulated wires that include a ground copper wire that ensures safe passage of electrical current in case of any unfortunate event.
On July 1, Hanson Corporation issued 10 shares of $100 par value preferred stock for cash of $1,000 per share. Write down the necessary journal entry.
Answer:
Debit Cash 10,000
Credit Preferred stock 1000
Credit Paid in capital in excess of par value 9,000
Explanation:
Preparation of the necessary journal entry
July 1
Debit Cash 10,000
($10*1,000)
Credit Preferred stock 1000
Credit Paid in capital in excess of par value 9,000
($10,000-$1,000)
Answer:
Explanation:
Answer:
Debit Cash 10,000
Credit Preferred stock 1000
Credit Paid in capital in excess of par value 9,000
Explanation:
Preparation of the necessary journal entry
July 1
Debit Cash 10,000
($10*1,000)
Credit Preferred stock 1000
Credit Paid in capital in excess of par value 9,000
($10,000-$1,000)
What is the APR on a loan with an effective annual rate of 15.26% and weekly compounding of interest?
Answer:
14.22%
Explanation:
Assuming 52 weeks in a year
[tex](1+.1526)=(1+i)^{52}\\i=.002734892\\.002734892*52=.142214377[/tex]
Which rounds to about
14.22%
