Suppose you entered a contract to buy your friend's iPad. Without your knowledge, it was malfunctioning at the time you bought it, and it died soon after you started using it. Your friend had recently removed a large number of applications from the iPad that were not working. Although he honestly thought the problem was with the applications and not the iPad itself, he failed to tell you about the problem. You reasonably concluded, based on your inspection of all of the current applications on the iPad, that it was functioning properly. Can you rescind the contract to buy the iPad?
a. Yes, due to fraud.
b. Yes, due to innocent misrepresentation.
c. Yes, due to mutual mistake.
d. Yes, due to undue influence.
e. No, the latent malfunction was not material, because the iPad was functioning when you bought it.
Answer:
Can you rescind the contract to buy the iPad?
b. Yes, due to innocent misrepresentation.
Explanation:
You can rescind the contract without damages or you claim damages based on the loss that you have already incurred for the contract. An innocent misrepresentation occurs when the misrepresentation is not fraudulent nor negligent. Therefore, you can rescind the contract or affirm it. But if the misrepresentation is fraudulent or negligent, you can rescind the contract as well as claim damages.
1. ¿Una pequeña panadería que elabora 1,000 panes diarios, podría implementar una gestión de compras para la adquisición de sus insumos? ¿En qué le puede beneficiar?
La respuesta correcta para esta pregunta abierta es la siguiente.
Sí. Definitivamente, una pequeña panadería que elabora 1,000 panes diarios, puede implementar una gestión de compras para la adquisición de sus insumos.
> La manera en la que esta pequeña panadería se puede beneficiar es que estaría implementando un sistema administrativo y operativo ya estructurado que le beneficiaría para eficientar mejor los recursos y organizar mejor sus operaciones.
> Una gestión de compras es una forma efectiva de implementar un procedimiento más productivo en el manejo de los recursos.
> Por medio de esta gestión de compras, el dueño o jefe de la panadería va a poder establecer con claridad un calendario para saber qué cantidad de masas comprar, cuántos kilos, cada cuándo, y con qué proveedores, quienes ofrezcan un mejor precio para los insumos.
Sin duda, aunque sea una pequeña panadería, los beneficios de implementar un sistema de gestión de compras convertiría a este pequeño negocio en una empresa más formal y la ayudaría a prepararse para cuando tuviera que aumentar sus operaciones o pensar en la apertura de una segunda sucursal.
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With the total performance indicators in place at Sears, it can evaluate if a single store improves its employee attitude by 5 percent and therefore predict with confidence that if the revenue growth in the district as a whole is 5 percent, the revenue growth in this particular store would be 5.5 percent. This is an example of the _______ perspective of the balanced scorecard.
A) innovation and learning
B) internal business
C) financial
D) customer
Answer:
C) financial
Explanation:
In Business management, a balance scorecard can be defined as a performance metrics used for measuring and assessing the quality of performance of a company.
The four (4) performance metrics of a balance scorecard includes the following; customer, learning and growth, internal business processes, and financial.
Generally, there exist a strong causal relationship between customer attitudes, employee attitudes, and financial outcomes that are generated by an organization or business firm.
In this scenario, Sears was able to evaluate that if a single store improves its employee attitude by 5% and revenue in the district as a whole grew by 5%; the revenue growth in this particular store would be 5.5%.
Thus, this is an example of the financial perspective of the balanced scorecard because with its total performance indicators, it was able to measure the level of revenue (finance) that would be generated by the store.
In conclusion, the balance scorecard should be used to determine whether or not the operations of a business is in synchronization with its vision statement and values.
A portfolio's return is the weighted average of each individual investment's return. However, a portfolio's risk is not the weighted average of each investment's standard deviation.
a. True
b. False
When the operating activities section of the statement of cash flows is reported using the direct method: Multiple Choice Footnotes to the financial statements disclose the difference between net income and the cash provided or used by financing activities. Noncash investing and financing activities is included in the statement of cash flows. Operating cash receipts minus operating cash payments equals net cash provided (used by)operating activities. Net income is adjusted for changes in noncurrent assets and noncurrent liabilities. The income statement is prepared under the cash basis of accounting.
Answer:
Operating cash receipts minus operating cash payments equals net cash provided (used by) operating activities.
Explanation:
A statement of cash flows is also known as cash flow statement and it is a financial statement which is used to illustrate how changes in income and various account of the balance sheet affect cash and cash equivalents.
The statement of cash flows is also used by financial experts or accountants to breakdown the cash-flow analysis into;
1. Cash-flow from financing activities: it represents the cash flow from debt or equity. Typically, it's the costs used in a financing a business.
2. Cash-flow from investing activities: it represents the cash flow from investment such as proceeds from the sale of plant, equipments, etc.
3. Cash-flow from operating activities: it represents cash-flow and transactions from operational business activities such as employee salary, sales of goods, etc.
In Financial accounting, the direct method of reporting operating cash flows uses actual cash inflows and outflows from the operating activities of a company by generating data from the income statement (cash receipts and cash disbursements/payments).
Hence, when the operating activities section of the statement of cash flows is reported using the direct method; operating cash receipts minus operating cash payments (disbursements) equals net cash provided, that is typically used by operating activities.
gdp bình quân là gì ?
Answer:
what type of language is this ??
der owns a hamburger restaurant. Slider's minimum average variable cost is $10$ 10 at a quantity of 100 hamburgers, and his minimum average total cost is $15$ 15 at a quantity of 200 hamburgers. His total fixed cost is $300$ 300 . Use this information to answer the questions. What is Slider's AVC when he sells 200 hamburgers?
Answer:
$13.50
Explanation:
Average Total Cost = Average Variable Cost + Average Fixed Cost
Average Fixed Cost = total fixed cost / quantity
300 / 200 = 1.5
15 = 1.5 + Average Variable Cost
Average Variable Cost =15 - 1.5 = 13.50
The following information is available for Birch Company at December 31:
Money market fund balance $2,790
Certificate of deposit maturing June 30 of next year $10,000
Postdated checks from customers $1,475
Cash in bank account $21,430
NSF checks from customers returned by bank $650
Cash in petty cash fund $200
Inventory of postage stamps $24
U.S. Treasury bill purchased on December 15 and maturing on February 28 of following year $5,000. Based on this information, Birch Company should report Cash and Cash Equivalents on December 31 of: ___________
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 lender uses these tools to help prequalify you for a mortgage
Answer:
Following are the summary of tools/documents that are used by lenders to pre-qualify their customers for a mortgage :
1. Tax returns, W-2s, and 1099s are examples of income as well as employment records.
2. Bank, pension, and brokerage accounts property declarations
3. Settlements on your obligations on a regular basis as well as any real estate debt statements.
4. Rent deposits, divorce, insolvency, and repossession records are all kept on file.
Question 4 James Bennett also allocates wealth between youth and old age. He has no cash currently (in his youth), but will inherit $3000 in his old age. He can lend and borrow at the bank at 18% (that is, lending $1 in youth will give him $1.18 in old age). He has an investment opportunity that costs $12,000 now in his youth and has a payoff of $15,000 in his old age. This is the only investment opportunity available to him. What is the most he can consume in his youth
James Bennet needs us to locate investment opportunities for him.
James divides his fortune between youth and old age, as is shown to us. He is currently cashless.
He has access to bank borrowing and lending at 18%.
Some investment opportunities are presented to him.
Investing is the act of placing money into a bank, a piece of property, or a company.
Savings can also take the form of investments.
The most he should spend while still young is $15,254.23.
This calculation is displayed.
The future value is the present value times 1.18.
Future worth = $15,000 + $3,000
= $ 18,000
Therefore, the present value is equal to $18,000 divided by 1.18.
= $ 15, 254.23.
The value that represents today's value is referred to as present value.
Consequently, we might infer that the greatest amount is $15,254.23 that he can spend during his childhood.
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How much does international trade affect you personally?
Answer:
maybe a lot for me ok
maybe you
An employee earned $1,000 in the first pay period of the current year. How much is the total employer and employee social security taxes on these earnings? (Use the simplified rate shown in illustrations.)
Answer: $120
Explanation:
The total employer and employee social security taxes is 6% fir the employee and 6% for the employee which then makes up 12%.
Since the employee earned $1,000 in the first pay period of the current year, then the total employer and employee social security taxes on these earnings will be:
= 12% × $1000
= 0.12 × $1000
= $120
Use the following information to prepare a multistep income statement and a balance sheet for Sherman Equipment Co. for 2016. (Hint: Some of the items will not appear on either statement, and ending retained earnings must be calculated.) (Balance Sheet only: Items to be deducted must be indicated with a minus sign.)
Salaries Expense $ 69,000 Operating Expenses $ 62,000
Common Stock 100,000 Cash Flow from Investing Activities 78,400
Notes Receivable 24,000 Prepaid Rent 12,500
(short term)
Allowance for Doubtful Accounts 7,800 Land 40,000
Uncollectible Accounts Expense 8,100 Cash 48,100
Supplies 1,200 Inventory 98,300
Interest Revenue 5,400 Accounts Payable 46,000
Sales Revenue 320,000 Salaries Payable 12,000
Dividends 3,500 Cost of Goods Sold 148,000
Interest Receivable (short term) 1,500 Accounts Receivable 56,000
Beginning Retained Earnings 81,000
Answer:
Sherman Equipment Co.
a) Sherman Equipment Co.
Multistep Income Statement
For the year ended December 31, 2016
Sales Revenue $320,000
Cost of Goods Sold 148,000
Gross profit $172,000
Operating expenses:
Salaries Expense $ 69,000
Operating Expenses 62,000
Uncollectible Accounts Expense 8,100
Total operating expenses $139,100
Operating income $32,900
Interest Revenue 5,400
Net income $38,300
Balance Sheet
As of December 31, 2016
Assets
Current Assets:
Cash $48,100
Interest Receivable (short term) 1,500
Accounts Receivable 56,000
Allowance for Doubtful Accounts (7,800) 48,200
Notes Receivable (short term) 24,000
Supplies 1,200
Inventory 98,300
Prepaid Rent 12,500
Total current assets $233,800
Long-term assets:
Land 40,000
Total assets $273,800
Liabilities and Equity:
Current liabilities:
Accounts Payable $46,000
Salaries Payable 12,000
Total current liabilities $58,000
Equity:
Common Stock $100,000
Ending Retained Earnings 115,800
Total equity $215,800
Total liabilities and equity $273,800
Explanation:
a) Data and Calculations:
Cash 48,100
Interest Receivable (short term) 1,500
Accounts Receivable 56,000
Notes Receivable (short term) 24,000
Supplies 1,200
Inventory 98,300
Prepaid Rent 12,500
Land 40,000
Allowance for Doubtful Accounts 7,800
Accounts Payable 46,000
Salaries Payable 12,000
Common Stock 100,000
Beginning Retained Earnings 81,000
Dividends 3,500
Interest Revenue 5,400
Sales Revenue 320,000
Cost of Goods Sold 148,000
Salaries Expense $ 69,000
Operating Expenses $ 62,000
Uncollectible Accounts Expense 8,100
Cash Flow from Investing Activities 78,400
Beginning Retained Earnings 81,000
Net income 38,300
Dividends (3,500)
Ending Retained Earnings 115,800
A call option on Barry Enterprises stock has a market price of $12. The stock sells for $23 a share, and the option has an exercise price of $17.50. What is the exercise value of the option
Answer:
the exercise value of the option is $5.50
Explanation:
The computation of the exercise value of the option is given below:
= Sale value of the stock - exercise price of the option
= $23 - $17.50
= $5.50
Hence, the exercise value of the option is $5.50
Simply we deduct the exercise price of the option from the sale value of the option
And, the same should be considered
what is a computer and its impact to society
Explanation:
computers have changed the way people relate to one another and their living environment as well as how humans organise their work and their time
Sheridan Industries reported actual sales of $2,125,000 and fixed costs of $562,275. The contribution margin ratio is 30%. Compute the margin of safety in dollars and the margin of safety ratio. (Round margin of safety ratio to 1 decimal place, e.g. 52.7.)
Answer:
Margin of safety $250,750
Margin of safety ratio 11.8%
Explanation:
Computation for the margin of safety in dollars and the margin of safety ratio
First step is calculate the Break even point in dollars
Break even point in dollars = Fixed costs / Contribution margin ratio
Break even point in dollars=$562,275/0.30
Break even point in dollars = $1,874,250
Now let determine the the margin of safety in dollars and the margin of safety ratio
Margin of safety = Actual Sales - Break even sales
Margin of safety= $2,125,000 -$1,874,250
Margin of safety=$250,750
Margin of safety ratio= Margin of safety/Actual Sales
Margin of safety ratio = $250,750/$2,125,000
Margin of safety ratio = 0.118*100
Margin of safety ratio = 11.8%
Thereforethe margin of safety in dollars and the margin of safety ratio will be:
Margin of safety $250,750
Margin of safety ratio 11.8%
Fina Corp. had the following transactions during the quarter ended March 31, 2018: Payment of fire insurance premium for calendar year 2018 800,000 What amount should be included in Fina's income statement for the quarter ended March 31, 2018?
Answer:
$200,000
Explanation:
When a company prepays for a service, the amount prepaid is recognized as an asset until the service is enjoyed (usually with the passing of time).
This is recorded as follows
Dr Prepaid expense
Cr Cash account
Being entries to recognize amount prepaid.
As the service is enjoyed,
Dr Expense
Cr Prepaid expense
Being entries to recognize expense incurred.
Since 800,00 was the amount prepaid for the calendar year 2018, by 31 March 2018, the amount used up (to be recognized as expense in the income statement) will be
3/12 * $800,000
= $200,000
A new firm, POINT BLANK, Co expects to generate Sales of $131,300. POINT BLANK has variable costs of $79,900, and fixed costs of $20,400. The per-year depreciation is $4,700 and the tax rate is 34 percent. Given this info: What is the annual operating cash flow?
Answer:
Variable costs are 55% of sales, depreciation on the equipment to produce the new board will be $2,150,000 per year, and fixed costs are $3,200,000 per year.
Explanation:
Variable costs are 55% of sales, depreciation on the equipment to produce the new board will be $2,150,000 per year, and fixed costs are $3,200,000 per year.
A horizontal merger between two firms occurs when: __________
a. the products of the merging firms were not related in any manner before the merger.
b. one firm is a producer of products, and the other firm is a producer of services.
c. one firm is a domestic firm, and the other is a foreign company
d. the firms stood in a buyer-seller relationship before the merger.
e. the merger partners were competitors.
Answer:
e
Explanation:
A merger can be described as the absorption of one firm by another firm.
When a merger occurs, one of the firms would not exist as a separate entity while the other firm would continue to exist.
Types of merger
1. Horizontal merger : this is a type of merger that occurs between firms in the same industry. The firms are usually competitors.
Reasons for an horizontal merger
It is done to increase the market power of a firmThis type of merger is done to achieve economies of scale.An example of an horizontal merger is the merger between Mobil and Exxon in 1999.
2. Vertical merger : this is when a firm purchases another firm in the same production line. e.g. a baker purchases a pastry distributing company
Reasons for a vertical merger
Cost savingsIt provides the firm acquiring a greater control of the production process.Types of vertical merger
a. Backward integration : it is when the acquiring firm purchases a firm ahead of it in the production process. e.g. a baker purchases a pastry distributing company
b. Forward integration : it is when the acquiring firm purchases a firm that is behind it in the production process. e.g. a baker purchases a firm that supplies grains
3. Conglomerate merger : This occurs when the products of the merging firms were not related in any manner before the merger.
True or false: Some contemporary models of communications have reconceptualized the classic Think-Feel-Do model to the Do-Think-Feel model to reflect more accurately actual communications effects given a particular type of product or purchase occasion. True Fals
Answer:
true
Explanation:
got it from quizlet.
Data concerning Lemelin Corporation's single product appear below:
Per Unit Percent of Sales
Selling price $ 230 100 %
Variable expenses 115 50 %
Contribution margin $ 115 50 %
The company is currently selling 7,000 units per month. Fixed expenses are $581,000 per month.
The marketing manager would like to cut the selling price by $18 and increase the advertising budget by $37,000 per month. The marketing manager predicts that these two changes would increase monthly sales by 1,600 units. What should be the overall effect on the company's monthly net operating income of this change?
a. increase of $302,200
b. decrease of $118,200
c. decrease of $7,800
d. increase of $118,200
Answer:
lol
Explanation:
Now don't get us wrong – not all of these answers raise this excellent question
Components of the master budget are the operating budget, the capital expenditures budget, and the financial budget. Group of answer choices True False
Answer: True
Explanation:
A master budget refers to the lower-level budgets that is within an organization, and the financial plan, the cash flow forecasts, and the budgeted financial statements.
The master budget consists of three main components which are the operating budget, financial budget and the capital expenditures budget.
Therefore, the statement is true.
Northberg Company is preparing a cash budget for August. The company has $16,000 cash at the beginning of August and anticipates $126,000 in cash receipts and $134,500 in cash payments during August. Northberg Company wants to maintain a minimum cash balance of $15,000. To maintain the $15,000 required balance, during August the company must: Group of answer choices Borrow $15,000. Repay $7,500. Repay $8,500. Borrow $7,500. Borrow $8,500.
Answer:
Borrow $7,500
Explanation:
The calculation of the amount that should be required to maintain the required balance is given below:
Preliminary cash balance
= Opening balance + Cash receipts - Cash disbursements
= $16,000 + $126,000 - $134,500
= $7,500
Since we have to maintain $15,000 so we have to borrow the following amount
= $15,000 - $7,500
= $7,500
Gilchrist Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. At the beginning of the most recently completed year, the Corporation estimated the machine-hours for the upcoming year at 44,800 machine-hours. The estimated variable manufacturing overhead was $4.65 per machine-hour and the estimated total fixed manufacturing overhead was $1,239,616. The predetermined overhead rate for the recently completed year was closest to:
Answer: $32.32
Explanation:
From the information given, the predetermined overhead rate for the recently completed year will be calculated thus:
= Total manufacturing overhead / Estimated machine hours
= $1,447,936 / 44,800
= $32.32 per machine hour
Total manufacturing overhead was calculated as:
Estimated fixed overhead = $1,239,616
Estimated variable overhead = 44,800 × $4.65 = $208320
Total manufacturing overhead = $1,447,936
Freelife, New Hampshire has a labor force of 78,567 persons and employment of 74,382. The unemployment rate for the city is: Group of answer choices 5.3%. 5.6%. 6.0%. 7.1%
Answer:
5.3%
Explanation:
There are 4,185 unemployment person(78,567-74,382)
So the rate of unemployment persons = ( the number of unemployment / the total number of persons) × 100
= (4,185/78,567) ×100
In Freelife, New Hampshire, there are 74,382 people employed and 78,567 people in the labor force. The city's unemployment rate is 5.3%.
What is the cause of unemployment?When someone is actively seeking employment even if they are employable, they are said to be unemployed. Individuals who are employed but do not have the right jobs are included in this group. One of the indices of a nation's economic health is unemployment,
which is typically calculated as the unemployment rate, which is calculated by dividing the number of jobless persons by
the total number of workers. It is common to misunderstand the definition of unemployment, which includes persons who are waiting to start working again after being discharged but excludes those who have given up seeking for a job. Those that aren't looking for work right now.
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Determine the missing amounts. Unit Selling Price Unit Variable Costs Unit Contribution Margin Contribution Margin Ratio 1. $650 $390 $enter a dollar amount (a) enter percentages % (b) 2. $200 $enter a dollar amount (c) $92 enter percentages % (d) 3. $enter a dollar amount (e) $enter a dollar amount (f) $805
Answer:
(a) $620
(b) 40%
(c) $208
(d) 31%
(e) $2,683
(f) $1,878
Explanation:
Use the following formula to calculate the unit contribution margin
Unit Contribution Margin = Unit Selling Price - Uni variable cost
Use the following formula to calculate the contribution margin ratio
Contribution Margin ratio = ( Unit Contribution margin / Unit Selling Price ) x 100
The working for the question is attached with this answer please find it.
AJ Manufacturing Company incurred $54,500 of fixed product cost and $43,600 of variable product cost during its first year of operation. Also during its first year, AJ incurred $17,350 of fixed and $13,900 of variable selling and administrative costs. The company sold all of the units it produced for $178,000. Required Prepare an income statement using the format required by generally accepted accounting Principles (GAAP). Prepare an income statement using the contribution margin approach.
Answer and Explanation:
The preparation of the income statement under following approaches are
Under generally accepted accounting Principles (GAAP)
Sales $178,000
Less: cost of goods sold ($54,500 + $43,600) -$98,100
Gross margin $79,900
Less: selling & general admin ($17,350 + $13,900) -$31,250
Net income $48,650
Under contribution margin approach
Sales $178,000
Less: variable cost ($43,600 + $13,900) -$57.5
Contribution margin $120,500
Less: fixed cost ($54,500 + $17,350) -$71,850
Net income $48,650
K. Johnson, Inc.'s managers want to evaluate the firm's prior-year performance in terms of its contribution to shareholder value. This past year, the firm earned an operating income return on investment of 12 percent, compared to an industry norm of 11 percent. It has been estimated that the firm's investors have an opportunity cost on their funds of 15 percent, which is the same as the firm's overall cost of capital. The firm's total assets for the year were exist100 million.
Required:
a. Compute the amount of economic value created or destroyed by the firm.
b. How does your finding support or fail to support what you would conclude using ratio analysis to evaluate the firm's performance?
Answer:
-3 million dollars
Explanation:
we have EVA = economic value added
to ge the EVA, we use this formula :
(operating return on the assets - cost of the total capital) multiplied by the total assets
total assets = 100 million
operating return = 12 percent
cost of capital = 15 percent
the EVA = 12% - 15% * 100000000
= -0.03 * 100000000
= -3,000,000 dollars
b. The loss of the value of the shareholder is happening even though the firm is earning ROI that is more than the average firm in the industry.
Tobias has a brokerage account and buys on the margin, which resulted in an interest expense of $52,000 during the year. Income generated through the brokerage account was as follows: Municipal interest $104,000 Taxable dividends and interest 520,000 If required, round any division to two decimal places and use in subsequent computations. Round your final answer to the nearest dollar. How much investment interest can Tobias deduct
Answer: $43,160
Explanation:
The amount of investment interest that can be deducted is:
= Interest expense * Proportion of total income that is taxable
Municipal interest is not taxable so the proportion of total income that is taxable is:
= Taxable dividends and interest / Total income
= 520,000 / (520,000 + 104,000)
= 0.83
Amount of investment interest that is deductible:
= 52,000 * 0.83
= $43,160
Rough-cut capacity planning: Multiple Choice Looks at specific products to be run in specific factories. Determines if the MRP is feasible or not. Analyzes both labor and equipment capacity throughout the organization. Examines total capacity by measuring average factory output.
Answer: Examines total capacity by measuring average factory output
Explanation:
Rough Cut Capacity Planning refers to the long-term plan capacity planning tool which is used for negotiation of changes to the available capacity or master schedule or for the balancing the available capacity.
Rough-cut capacity planning examines the total capacity by measuring average factory output. Therefore, the correct option is D.
