Answer: $25078
Explanation:
Firstly, we'll find the real interest rate which will be:
(1 + R) = (1 + r)(1 + h)
(1 + 10%) = (1 + r)(1 + 4.8%)
(1 + 0.1) = (1 + r)(1 + 0.048)
1.1 = (1 + r)(1.048)
r = 4.96%.
Now the annual deposit will be gotten by using the annuity future value which will be:
3 million = C(1.0496^40-1) / 0.0496
3 million = C(5.3995) / 0.0496
3 million = 119.627C
C = 3 million/119.627
C = 25078
Therefore, the real amount that must be deposited each year to achieve the goal is $25078
f an investor purchases a REIT for $36, receives cash distributions of $1 and redeems the shares after one year for $41, what is the percentage return on the investment
Answer:
16.67%
Explanation:
total return = dividend return + price appreciation
dividend return = dividend / price of the share
$1 / $36 = 0.0278
price appreciation = ($41 / $36) - 1 = 0.1389
0.1389 + 0.0278 = 0.1667 = 16.67
2.78
Hector is opening an appliance store. He has estimated a monthly profit goal based on his anticipated expenses and earning goals and uses it to set product prices. Hector is implementing a ________ pricing strategy.
Answer:
target return on investment (ROI)
Explanation:
THESE ARE THE OPTIONS FOR THE QUESTION BELOW
A) penetration
B) price skimming
C) target return on investment (ROI)
D) competitor-based
E) value
From the question, we are informed about the Hector who is opening an appliance store. He has estimated a monthly profit goal based on his anticipated expenses and earning goals and uses it to set product prices. Hector is implementing a target return on investment (ROI) pricing strategy.
Target return on investment pricing model can be regarded as one in which price is determined by investor/Business based on what the business owner intend to make from his/her capital that is invested in the business. An investor can calculate Target return ccalculated as the money invested in a venture along as the profit that investor intend to see as return, which is been adjusted for the time value of money. As regards to return-on-investment method, It is required by the investor work in backward direction so as to to reach a current price for target return pricing.
You are an investment manager and one of your clients is a famous soccer player. She is promised to be paid $5million three years from now. What is the present value of this cash flow today
Answer:
$4,153,268.86
Explanation:
The below is missing from the question:
Your discount rate for real cash flows is 5% APR, compounded monthly and you are expecting inflation of 1.2% per year (APR, annual compounding).
We need to convert the real interest rate to an effective annual rate as shown thus:
EAR=(1+APR/n)^n-1
APR=5%
number of times interest is compounded annually=12
EAR=(1+5%/12)^12-1
EAR=5.12%
Nominal Discount rate = [(1+ Real Discount rate)*(1+Inflation Rate)] - 1
Nominal Discount rate =(1+5.12%)*(1+1.2%)-1
Nominal discount rate=6.38%
Present value=future value/(1+nominal discount rate)^3
future value=$5,000,0000
nominal discount rate=6.38%
n=3 years
PV=$5,000,000/(1+6.38%)^3
PV= $4,153,268.86
The following labor standards have been established for a particular product: Standard labor hours per unit of output 4.4 hours Standard labor rate $ 17.70 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked 6,200 hours Actual total labor cost $ 110,360 Actual output 1,300 units Required: a. What is the labor rate variance for the month? b. What is the labor efficiency variance for the month?
Answer:
Results are below.
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= (17.7 - 17.8)*6,200
Direct labor rate variance= $620 unfavorable
Actual rate= 110,360/6,200= $17.8
Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate
Direct labor time (efficiency) variance= (1,300*4.4 - 6,200)*17.7
Direct labor time (efficiency) variance= $8,496 unfavorable
In an oligopoly model with a kinked demand curve, a decrease in a firm's marginal cost general leads to _____ .
a. None of the options are correct.
b. reduced output and a higher price
c. increased output and a lower price
d. higher output and a higher price
Answer:
Option a (None of the options are correct) is the right alternative.
Explanation:
A manner of opportunities and management when two or even more businesses have quite a share of the economy would be characterized as an oligopoly. Those who can determine production and prices throughout the combination.Every opportunity to make simplification generalizations underlines one facet of that same oligopoly situation.Thus the above option is the correct one.
At the end of November, work in process inventory consists of 181,000 units that are 50% complete with respect to conversion. Beginning work in process inventory had $460,720 of direct materials and $178,988 of conversion cost. The direct material cost added in November is $3,083,280, and the conversion cost added is $3,400,762. Beginning work in process consisted of 61,000 units that were 100% complete with respect to direct materials and 80% complete with respect to conversion. Of the units completed, 61,000 were from beginning work in process and 644,000 units were started and completed during the period. Required: For the first process: 1. Determine the equivalent units of production with respect to direct materials and conversion
Question Completion:
Victory Company uses weighted-average process costing to account for its production costs. Conversion cost is added evenly throughout the process. Direct materials are added at the beginning of the process.
Answer:
Victory Company
Direct Materials Conversion
Equivalent units 886,000 795,500
Explanation:
a) Data and Calculations:
Direct Materials Conversion Cost
Beginning WIP Inventory $460,720 $178,988
Costs added in November 3,083,280 3,400,762
Total costs of production $3,544,000 $3,579,750
Production Process:
Beginning Inventory = 61,000
Started and completed 644,000
Units transferred out = 705,000
Ending WIP inventory 181,000
Units under process 886,000
Equivalent units of production:
Direct Materials Conversion
Units transferred out 705,000 (100%) 705,000 (100%)
Ending WIP Inventory 181,000 (100%) 90,500 (50%)
Total equivalent units 886,000 795,500
A steam boiler has a first cost of $50,000. Use the sum-of-years digits (SOYD) depreciation accounting method with a $5,000 salvage value and a 10-year depreciation life; determine the boiler's book value at the end of year eight.
Answer:
$2,425
Explanation:
Sum of the digits = 10 + 9 + 8+7 +6 + 5+ 4+ 3+ 2 +1 = 55
Depreciation expense :
1st year = 10/55 x $45,000 = $8,182
2nd year = 9/55 x $45,000 = $7364
3rd year = 8/55 x $45,000 = $6,545
4th year = 7/55 x $45,000 = $5,757
5th year = 6/55 x $45,000 = $4,909
6th year = 5/55 x $45,000 = $4,091
7th year = 4/55 x $45,000 = $3,273
8th year = 3/55 x $45,000 = $2,454
Total depreciation = $42,575
Book Value = $45,000 - $42,575 = $2,425
the boiler's book value at the end of year eight is $2,425
you buy a 8%. 10 year maturity bond for 980. a year later, the bond price is 1200. assume annual coupon payments. what is the new yield to maturity on the bond
The new yield to maturity on the bond is 5.16%.
Given Information
Current price of the bond = $980
FV = $1000
Coupon rate = 8%
Term = 10 maturity
After 1 year bond price = $1,200
Remaining life = 9 years (10-1)
New yield rate = [Coupon rate + (Maturity value - Current price) / Useful life] / [0.6*Current price + 0.4*Maturity value]
New yield rate = [1,000*8% + (1,000-1,200) / 9] / [0.6*1,200 + 0.4*1,000]
New yield rate = $57.78 / $1,120
New yield rate = 0.0515893
New yield rate = 5.16%
Therefore, the new yield to maturity on the bond is 5.16%.
Missing word "(Assume a face value of $1,000 and annual coupon payments."
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It's clear that the lives of many creative artists are being transformed by digital technology. But competing schools of thought cite the very same technology in support of strikingly different conclusions.
One group, for example, says the ability to widely distribute the best performers' products at low cost portends a world where even small differences in talent command huge differences in reward. That view is known as the "winner take all" theory.
In contrast, the "long tail" theory holds that the information revolution is letting sellers prosper even when their offerings appeal to only a small fraction of the market. This view foresees a golden age in which small-scale creative talent flourishes as never before.
Long-tail proponents often portray best-selling entertainment as lowest-common-denominator compromises whose only real advantage is lower cost made possible by large-scale distribution and sales. If technology makes scale less important, they argue, people will turn to the more idiosyncratic offerings that they really prefer. In principle, at least, this creates exciting new possibilities for small-scale sellers.
In practice, however, winner-take-all effects still appear to dominate. Long-tail proponents predict that the least-popular offerings should be capturing market share from the most popular. But as Anita Elberse, a professor at the Harvard Business School, recounts in her 2013 book "Blockbusters", the entertainment industry's experience has been the reverse. Digital song titles selling more than one million copies, for example, accounted for 15 percent of sales in 2011, up from 7 percent in 2007. The publishing and film industries experienced similar trends.
What's happening? One possibility is that today's tighter schedules have made people more reluctant to sift through the growing avalanche of options confronting them. Still, the growing market share of top sellers doesn't invalidate the promise of small-scale creative energy. Using big data, producers can now take aim at highly idiosyncratic buyers, and online searches help many such buyers find just the quirky offerings they're seeking.
Your 3-5 sentence summary:
Answer and Explanation:
Artists' lives have been changed by digital technology. This has created different schools of thought such as the "winner take all" theory, which claims that delivering high quality products at low cost will create a world where small differences in talent demand large differences in reward, and the "long tail" theory, who claims that digital technology is creating a small portion of sellers that the market will adapt to, promoting low-cost products. These two theories are effective in different realities. However, the existence of both proves the change that programming and technology has been showing in entertainment and in the market.
According to the passage, there are two main schools of thought.
The first is the Winner take all school of thought which is of the opinion that digital technology which provides the opportunity to widely distribute the best performers' product at low cost where little differences in talent could translate to huge rewards in the market.
The second is the long tail school of thought which posits that sellers are large beneficiaries even when they control a little market share.
Anita Elberses' 2013 book "Blockbuster" reveals that a reverse trend was observed in the entertainment industry which could also be said about the publishing and film industries.
It is worthy to note that although there is an exponential growth in available options, buyers can use online search to streamline the product they wish to buy.
Learn more about Digital Technology at https://brainly.com/question/617704
At April 30, Marigold Corp. has the following bank information: Cash balance per bank $5400 Outstanding checks $330 Deposits in transit $650 Credit memo for interest $10 Bank service charge $20 What is Marigold adjusted cash balance on April 30
Answer:
$5,720
Explanation:
Calculation to determine What is Marigold adjusted cash balance on April 30
MARIGOLD CORP Adjusted cash balance on April 30
Cash balance per bank $5400
Less:Outstanding checks ($330)
Add: Deposit in transit $650
Adjusted cash balance. $5720
($5400-$330+$650)
Therefore Marigold adjusted cash balance on April 30 is $5,720
The Science of Macroeconomics
Consider the different issues listed below. Place each of them into the appropriate category, depending upon whether the issue is best suited for study under microeconomics or macroeconomics.
A. Congress recently passed the Tax Cuts and Jobs Act of 2017.
B. Amazon now has a 40% share of all e-commerce revenues.
C. Tuition at the local university increased 11% from last year.
D. The U.S. unemployment rate fell below 4% in 2018.
1. Microeconomics
2. Macroeconomics
Answer:
Macroeconomics deals with events that affects the entire country or industry as a whole while Microeconomics affects individual members of the economy such as companies and people.
A. Congress recently passed the Tax Cuts and Jobs Act of 2017. MACRO
This Act will affect the entire nation so it will fall under Macroeconomics.
B. Amazon now has a 40% share of all e-commerce revenues. MICRO
Amazon is a single company in the market so things related to it will be considered on a micro economic level.
C. Tuition at the local university increased 11% from last year. MICRO
The local university like Amazon, is a single body in the economy and so they are a microeconomic player.
D. The U.S. unemployment rate fell below 4% in 2018. MACRO
The unemployment rate of a nation relates to the nation as a whole so this will fall under macroeconomics.
Economics
Assume there is a new international trade agreement that allows foreign countries to sell their products in the US, what can we predict will happen?
Answer:
1 + 1 = 3 thats the correct answer of your question
Many people have larger amounts of debt in America than before, and people have become hesitant to take loans out for new cars. All other things being equal, what would car dealership do with their financing in this new market environment
Answer:
they will increase their rates of loans
The Sneed Corporation issues 10,000 shares of $50 par preferred stock for cash at $75 per share. The entry to record the transaction will consist of a debit to Cash for $750,000 and a credit or credits to a.Paid-In Capital from Preferred Stock for $750,000 b.Preferred Stock for $500,000 and Retained Earnings for $250,000 c.Preferred Stock for $500,000 and Paid-In Capital in Excess of Par—Preferred Stock for $250,000 d.Preferred Stock for $750,000
Answer:
b) Preferred Stock for $500,000.00 and Paid-In Capital in Excess of Par-Preferred Stock for $250,000.00
Explanation:
Based on the information given The Appropriate journal entry to record the transaction will consist of a debit to Cash for $750,000 and a credit or credits to PREFERRED STOCK FOR $500,000.00 and PAID-IN CAPITAL IN EXCESS OF PAR-PREFERRED STOCK FOR $250,000.00
Dr Cash $750,000
(10,000 shares *$75)
Cr Preferred Stock for $500,000.00
(10,000 shares *$50)
Cr Paid-In Capital in Excess of Par-Preferred Stock for $250,000.00
($750,000-$500,000]
A simple optimal portfolio problem is the cash matching problem.
Suppose you are given a sequence of future monetary obligations, in dollars, required to be paid at the end of each year over the next 10 years as follows:
YEAR 1 2 3 4 5 6 7 8 9 10
OBLIGATION 100 200 300 400 500 600 700 800 900 1000
We wish to invest now so that these obligations can be met as they occur, accordingly, we must purchase bonds of various maturities and use the associated future cash flows to meet the obligations.
Suppose there are 10 zero coupon bonds available to be purchased, each with a face value of $100. The maturities of the zero coupon bonds span 1 to 10 years, and the price of each zero coupon bond is consistent with a flat term structure: all spot rates are equal to 5% annually. To be clear, we have available a 1-year zero coupon bond with 5% yield, a 2-year zero coupon bond with 5% yield, a 3-year zero coupon bond with a 5% yield, all the way up to a 10-year zero coupon bond with a 5% yield, for a total of 10 zero coupon bonds. The objective function to be minimized is the total cost of the portfolio, which is equal to the sum of the prices of the bonds times the number of units purchased.
How many units of the 5-year zero coupon bond should be purchased in the optimal portfolio? Please round your numerical answer to the nearest integer number of units.
Answer:
The units of the 5-year zero coupon bond that should be purchased in the optimal portfolio is:
= 6 units
Explanation:
a) Data and Calculations:
Spot rates = 5% annually
Yield of a 1-year zero coupon bond = 5%
Yield of a 2-year zero coupon bond = 5%
Yield of a 3-year zero coupon bond = 5%
Yield of a 4-year zero coupon bond = 5%
Yield of a 5-year zero coupon bond = 5%
Yield of a 6-year up to a 10-year zero coupon bond = 5%
Future Monetary Obligations:
YEAR 1 2 3 4 5 6 7 8 9 10
OBLIGATION 100 200 300 400 500 600 700 800 900 1000
PV factor 1.05 1.1025 1.1576 1.2155 1.2763 etc.
Present value of a 5-year zero coupon bond = $78.35 ($100/1.2763)
Number of units of the 5-year zero coupon bond that should be purchased in the optimal portfolio = 6.382 ($500/$78.35)
= 6 units
g When a court awards custody of a child to one parent and not the other, this is an example of: Group of answer choices all of the answers are correct monetary relief monetary damages equitable relief
Answer:
equitable relief
Explanation:
A court refers to an enclosed space such as a hall or chamber where legal practitioners (judges, lawyers or attorneys and a jury) converge to hold judicial proceedings.
A lawyer refers to an individual who has obtained a law degree and is saddled with the responsibility of giving legal advice, initiate and execute lawsuits for his or her clients. These legal practitioners are saddled with the legal responsibility of listening to evidence and give a verdict about legal cases.
An equitable relief also referred to as equitable remedy can be defined as judicial remedies granted to an aggrieved person by a court of equity, requiring that the other party act or refrain from indulging in a specific act because ordinary legal remedies couldn't provide the aggrieved party sufficient (adequate) restitution for an offense commited against him or her. Thus, an equitable relief (remedy) is an injunction granted by a court of equity requiring a party to a contract to either act (mandamus or specific performance) or refrain from indulging in a particular act.
In this context, when a court of competent jurisdiction awards or grants custody of a child to one parent rather than awarding it to the other, this is an example of equitable relief.
In conclusion, an equitable relief or remedy is typically a nonmonetary judgement granted by a court of equity when ordinary legal remedies fail to provide sufficient (adequate) restitution to an aggrieved party.
An asset costs $150,000 and has a salvage value O of $15,000 after 10 years. What is the depreciation charge for the 4th year, and what is the book value at the end of the 8th year with (a) Straight-line depreciation
Answer:
$13,500
$42,000
Explanation:
Fixed cost of asset = 150000
Salvage value = 15000
Period = 10 years
Annual Depreciation = (fixed cost of asset - Salvage a value) / period
Annual Depreciation = (150000 - 15000) / 10
Annual Depreciation = 135000 / 10
Annual Depreciation = $13500
The 4th year depreciation is also $13,500 as the annual Depreciation charge is equal for each year.
The book value at the end of the 8th year :
Depreciation for 8 years = (13500 * 8) = $108,000
Book value at the end of 8 years = Cost of asset - $108,000
= $150,000 - $108,000
= $42,000
Financial Statements. Henry Josstick has just started his first accounting course and has prepared the following balance sheet and income statement for Omega Corp. Unfortunately, although the data for the individual items are correct, he is very confused as to whether an item should go in the balance sheet or income statement and whether it is an asset or liability. Help him by rearranging the items and filling in the blanks.
BALANCE SHEET
Payables 35 Inventories 50
Less accumulated depreciation 120 Receivables 35
Total current assets _ Total current liabilities _
Long-term debt 350 Interest expense 25
Property, plant, and equipment 520 Total liabilities _
Net fixed assets _ Shareholders’ equity 90
Total assets _ Total liabilities and shareholders’ equity_
INCOME STATEMENT
Net sales 700
Cost of goods sold 580
Selling, general, and administrative expenses 38
EBIT
Debt due for repayment 25
Cash 15
Taxable income
Taxes 15
Depreciation 12
Net income -
What is the correct total for the following?
a. Current assets
b. Net fixed assets
c. Total assets
d. Current liabilities
e. Total liabilities
f. Total liabilities and shareholders’ equity
g. EBIT
h. Taxable income
i. Net income
Answer:
Omega Corp.
The correct totals for the following:
a. Current assets = $100
b. Net fixed assets = $400
c. Total assets = $500
d. Current liabilities = $60
e. Total liabilities = $410
f. Total liabilities and shareholders’ equity = $500
g. EBIT = $70
h. Taxable income = $45
i. Net income = $30
Explanation:
a) Data and Calculations:
BALANCE SHEET
Cash $15
Receivables 35
Inventories 50
Total current assets $100
Property, plant, and equipment 520
Less accumulated depreciation 120
Net fixed assets $400
Total assets $500
Liabilities and Equity
Payables $35
Debt due for repayment 25
Total current liabilities $60
Long-term debt 350
Total liabilities $410
Shareholders’ equity 90
Total liabilities and shareholders’ equity $500
INCOME STATEMENT
Net sales $700
Cost of goods sold 580
Gross profit 120
Selling, general, and
administrative expenses 38
Depreciation 12
EBIT 70
Interest expense 25
Taxable income 45
Taxes 15
Net income 30
In a 150 pax of guest dining in a restaurant, how will your facility be designed to accommodate that number of guests?
Answer:
To build the facility having compartments over one another.
Explanation:
The facility will be designed in a three compartment that are present on one another so then it will accommodate more number of guests. The building of compartment over one another can enable us to accommodate three times more people on the same piece of land so we can conclude that making the facility in the form of building over one another can accommodate more number of people.
The amount of time it takes to receive an item after it is requested is the _____.
thread
blacklist
lead time
download time
Answer:
lead time
Explanation:
In November, the seafood department in a grocery store marked 250 8-pound cases of lobster tails down from their original price of $75 to $58. The November markdown was very successful, and all of the 8-pound cases of lobster tails were sold at $58 each. Calculate the total markdown dollars for the sale.
Answer:
Total mark down Dollars for sales =$4,250
Explanation:
The markdown is the discount given expressed as a percentage of the original sales price.
The total sales value at the original price = 250× 75 = 18,750
Discount per lobster in Dollars = 75-58 = $17
Mark down (%) = 17/75×100 = 22.67%
Total markdown Dollars for sales = 22.67%× 18,750= $4,250
Total mark down Dollars for sales =$4,250
A company had a budgeted production of 12000 units and actual production of 13200 units. Two types of raw material, P and Q are used in the manufacturing of the products. The budgeted raw material requirement of the company was expected to be 3 lbs. of Material P at a price of $ 0.25 per lbs. and 2 lbs. of Material Q at a price of $ 0.35 per lbs. for every unit produced. The company actually ended up using 42000 lbs. of P at an actual cost of $0.19 per lbs. and 25000 lbs. of Q at an actual cost of $0.38 per lbs. Calculate Direct Material Price and Usage Variance for material P and Q.\
Answer:
Direct Material Price Variance:
P = $2,520 F
Q = $750 U
Direct Material Usage Variance:
P = $1,500 U
Q = $350 U
Explanation:
a) Data and Calculations:
Budgeted production units = 12,000
Actual production units = 13,200
P Q
Budgeted raw material per unit 3 lbs 2 lbs
Price per lbs $0.25 $0.35
Budgeted raw materials 36,000 lbs 24,000 lbs
Actual lbs of raw materials 42,000 lbs 25,000 lbs
Actual price per lbs $0.19 $0.38
Direct Material Price Variance = (Standard Price - Actual Price) * Actual Qty
P = $0.25 - $0.19 * 42,000 = $2,520 F
Q = $0.35 - $0.38 * 25,000 = $750 U
Direct Material Usage Variance = (Standard Qty - Actual Qty) * Standard Price
P = 36,000 - 42,000 * $0.25 = $1,500 U
Q = 24,000 - 25,000 * $0.35 = $350 U
Sun County Airline is a low-cost carrier that operates 70 routes, primarily between leisure destinations in the United States, Mexico, Costa Rica, and the Caribbean.What is likely to be its business (generic) strategy
Answer: C. Focused Cost Leadership
Explanation:
Focused cost leadership happens when a company tries to focus on one part of the market such that it is able to take advantages of the unique opportunities offered there to offer the lowest prices to that specific part of the market.
Sun County Airlines is focusing on leisure destinations and yet offering it at low cost. It is therefore trying to focus specifically on that market whilst offering the lowest price which makes this a focused cost leadership strategy.
Persuasion, collaboration, participation and direction are four styles of leadership that all leaders can use. Can all four of these styles be used for a transformative leader and can all four be used by a transactional leader
Answer:
false
Explanation:
All four leadership styles: persuasion, collaboration, participation, and direction are not styles used by both transformative leaders and transactional leaders.
In transformative leadership, these styles are used, as the focus of this leadership style is to inspire your subordinates through trust and easy communication that motivates and encourages employees to be more productive, giving a sense of work appreciation and personal pride.
In transactional leadership, the leader is the one who uses a reward system for the good performance of subordinates, not intervening in decisions, that is, he is not a leader who participates, directs or collaborates with the progress of the work, but who uses the " laissez-faire" which is a term that corresponds to a style where the leader does not make decisions, but lets the employees themselves have the autonomy to make them.
What is the percentage of total current assets in terms of total assets for Walmart for the year of 2016
Answer:
42%
Explanation:
In simple words, Wallmart is the biggest retail chain facility in the world. Hence, it would be obvious that a high percentage of their total assets in value will be composed of the current assets in forms of inventory.
In 2016, their total current assets were about 42% of total assets, which is higher than majority of their peers. An increase in their turnover might be the reason behind such high ratio.
An investment earns 35% the first year, earns 40% the second year, and loses 38% the third year. The total compound return over the 3 years was
Answer:
17.18%
Explanation:
compound return = ( 1 + 0.35)x (1 + 0.40) x (1-0.38) - 1
1.35 x 1.40 x 0.62 - 1 = 17.18%
During 2020, Lincoln Company hires 22 individuals who are certified to be members of a qualifying targeted group. Each employee works in excess of 600 hours and is paid wages of $13,600 during the year. Determine the amount of Lincoln's work opportunity credit. $fill in the blank 1 .
Answer:
$52,800
Explanation:
The computation of the amount of Lincoln's work opportunity credit is shown below:
Since the employees work in excess of 600 hours so it should be more than 400
So, the work opportunities credit for each would be $6,000 × 40% i.e. $2,400
Now the amount of Lincoln's work opportunity credit is
= $2,400 × 22
= $52,800
Ace Technologies, Inc., wants to issue securities for sale to the public. With respect to this issue, the essential purpose of the Securities Act of 1933 is to
Answer:
require disclosure of all essential information concerning the issuance of securities.
Explanation:
The Securities Act of 1933 was considered the first federal legislation which is used to regulating the stock market. This act took the power away from the states and it gave the powers to the federal government. The Securities Act also created an uniform set of rules which is used to protect the investors against any kind of fraud. President Franklin D gave his assent to this act.
In the context, if Ace Technologies wants to issue securities to the general public for sale, Ace Technologies should disclose all the essential information about the issuance of the securities according to the Securities Act of 1933.
Flagstaff Company has budgeted production units of 7,900 for July and 8,100 for August. The direct labor requirement per unit is 0.50 hours. Labor is paid at the rate of $21 per hour. The total cost of direct labor budgeted for the month of August is:
Answer:
See below
Explanation:
The budgeted direct labor cost for August can be computed by multiplying the labor rate per hour by the labor hours worked in August.
Assume one unit consumes 0.50 labor hours, the labor hours worked in August are;
Labor hours - August = 0.50 × 8,100 = 4,050 labor hours
Therefore, the labor cost for August are budgeted to be;
Direct labor cost - August = 4,050 × $21 = $85,050
Trafalgar Estate Agency started operations on January 01, 2020. The following transactions occurred in the first month of operations:
January 01 Owner of the business Mr. Miller invested $30,000 cash in the business.
January 03 Purchased office supplies worth $1,500 on credit.
January 06 Purchased office equipment for $7,500; paying $2,500 in cash and signed a 30-day, $5,000 note payable.
January 12 Real estate commission billed to clients amount to $12,000.
January 20 Paid cash on account for office supplies purchased on January 03.
January 27 Received a check for $4,000 from a client in payment on account for commissions billed on January 12.
January 30 Received a telephone bill for $120 due next month.
Requirements:
Enter these transactions in General Journal of Trafalgar Estate Agency.
Post these transactions to appropriate ledger accounts.
Prepare a trial balance for the month of January 31, 2020.
Answer:
Cash (Dr.) $30,000
Capital (Cr.) $30,000
Office Supplies (Dr.) $1,500
Accounts Payable (Cr.) $1,500
Office equipment (Dr.) $7,500
Cash (Cr.) $2,500
Note Payable (Cr.) $5,000
Accounts Receivable (Dr.) $12,000
Real estate commission (Cr.) $12,000
Accounts Payable (Dr.) $1,500
Cash (Cr.) $1,500
Real Estate Commission (Dr.) $4,000
Accounts Receivable (Cr.) $4,000
Explanation:
Trial Balance :
Debits :
Cash $26,000
Office Equipment $7,500
Office Supplies $1,500
Commission received $4,000
Accounts Receivable $8,000
Total $47,000
Credits :
Capital $30,000
Notes Payable $5,000
Revenue Commission $12,000
Total $47,000
