The response to the above queries is as follows:
a. Total interest = $8,640
b. Total cost = $18,000
c. Monthly payment = $250
d. The APR on Richard's loan is approximately 11.6%.
By calculating the entire loan amount by the add-on interest rate and the loan's term, one may get the total interest owed by Richard on his loan:
∴ Total interest = $14,400 × 10% × 6 years = $8,640
The combination of the loan and the down payment represents the car's total cost:
∴ Total cost = $14,400 + $3,600 = $18,000
By dividing the total cost of the vehicle, including interest, by the number of months remaining on the loan, one may get the monthly payment:
Monthly payment = Total cost ÷ (number of years × 12)
Monthly payment = $18,000 ÷ (6 × 12)
∴ Monthly payment = $250
APR is calculated using a more complex method, but we may get a rough idea by dividing the total cost of the loan, including interest, by the length of the loan period and the loan's initial amount:
APR = (Total cost ÷ Original loan amount) × (1 / number of years) × 100%
APR = ($8,640 + $14,400) ÷ $14,400 × (1 / 6) × 100%
∴ APR = 11.6%
So the APR on Richard's loan is approximately 11.6%.
Learn more about Auto loan financing here:
brainly.com/question/12389122
#SPJ4
Acme Home Builders, Inc., has built 24 houses so far this year at a total cost to the company of $4.80 million. If the company builds a 25th house, its total cost will increase to $5.05 million. Which of the following statements is correct? a. For the first 24 houses, the average cost per house was $205,000. b. The marginal cost of the 25th house, if it is built, will equal $250,000. c. If the company can sell the 25th house for at least $202,000, then it should build it. d. All of the above are correct.
If the company builds a 25th house, its total cost will increase to $5.05 million. b. The marginal cost of the 25th house, if it is built, will equal $250,000 is correct.
Acme House Builders, Inc. has built 24 houses this year for a total cost of $4.80 million. If the corporation constructs a 25th house, the total cost will rise to $5.05 million.
As a result, the marginal cost is
Change in total cost minus marginal cost
Total cost of 25 dwellings minus total cost of 24 houses = $5,050,000 - $4,800,000 = $250,000
The marginal cost of production is the opportunity cost of output. When marginal benefits are less than marginal costs, production is inefficient and should be halted. When marginal benefit exceeds marginal cost, production is efficient and can thus be prolo - nged.
To know more about marginal cost:
https://brainly.com/question/14957156
#SPJ4
On July 12, year 4, Carver, Inc. acquired Jones Company in a business combination. The carrying value for each of the three reporting units of the acquired company is as follows.
Retailing $30,000
Service $20,000
Financing $40,000
Near the end of year 4 a new major competitor entered the company's market and Carver was concerned that this might cause a significant decline in the value of goodwill. Accordingly, Carver computed the fair value of the three major reporting units at December 31, year 4, as follows:
Retailing $25,000
Service $10,000
Financing $60,000
Determine the amount of impairment of goodwill that should be recorded by Carver at December 31, year 4.
A) $0
B) $10,000
C) $15,000
D) $25,000
When a company acquires another company, the purchase price of the acquisition is allocated to the acquired company's assets and liabilities based on their fair values.
Any excess purchase price over the fair value of net assets acquired is recorded as goodwill. Goodwill is an intangible asset that represents the future economic benefits expected to result from the business combination. In subsequent periods, the company needs to test whether the goodwill is impaired, which means its carrying amount exceeds its fair value. If the fair value of the reporting unit is less than its carrying amount, an impairment loss must be recognized for the difference. In this case, Carver, Inc. acquired Jones Company in a business combination on July 12, year 4. At the end of year 4, Carver was concerned that a new major competitor in the market might cause a significant decline in the value of goodwill. To determine the impairment loss, we need to compare the carrying amount of each reporting unit with its fair value. If the fair value is less than the carrying amount, an impairment loss must be recognized. For the Retailing reporting unit, the carrying amount is $30,000, and the fair value is $25,000. Therefore, the impairment loss is $5,000 ($30,000 - $25,000). For the Service reporting unit, the carrying amount is $20,000, and the fair value is $10,000. Therefore, the impairment loss is $10,000 ($20,000 - $10,000). For the Financing reporting unit, the carrying amount is $40,000, and the fair value is $60,000. Therefore, there is no impairment loss. The total impairment loss is the sum of the impairment losses for the Retailing and Service reporting units, which is $5,000 + $10,000 = $15,000. Therefore, the answer is (C) $15,000.
To know more about acquisition:
https://brainly.com/question/29216359
#SPJ4
Find the principal and the interest amount.
Present Value
(Principal)
?
Interest
Amount
?
Future Value
(Maturity Value)
$5821.13
Interest
Rate
5.1%
Time
5 months
The principal is $
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
Find interest amount and present value
Principal after one compounding period (Five months) = Principal plus interest , the present value is $4,494
What is the calculation ?FV=PV+i(PV)=$4,000+0.06($4,000)=$4,000+$240=$4,240
Now proceed to the next six months. The future value after two compounding periods (one year) is calculated in the same way.
FV=PV+(PV) can be factored and rewritten as FV=PV(1+i).
FV(after two compound periods)=PV(1+i)=$4,200(1+0.06)=$4,240(1.06)=$4,494.40
Since the PV=$4,240 is the result of the previous calculation where
PV(1+i)=$4,240, the following algebraic substitution is possible:
FV(after two compounding periods)=PV(1+i)(1+i)=$4,000(1.06)(1.06)=$4200(1.06)=$4,494.40
Simplifying algebraically, you get:
FV=PV(1+i)(1+i)=PV(1+i)2
For compound interest, the simplest future value case is one in which all the variables are constant during the transaction. Continue with the next instance to understand where the formula came from.
If a borrower borrowed $4,000 two years ago at 12% compounded semi-annually, they would also be responsible for two years' worth of compound interest on top of the $4,000 principal.
Learn more about Compound , from :
brainly.com/question/29335425
#SPJ9
1. If you listened suddenly an entrepreneur saying "If I make up my mind to do something, I don't let anything stop me. I keep trying again and again despite great challenges and failure." Which quality of an entrepreneur is seen in him/her? Justify why?
Answer: The entrepreneur you described is demonstrating determination and resilience.
Explanation:
The entrepreneur you described is demonstrating determination and resilience. This is a common trait among successful entrepreneurs, as starting and growing a business is often full of obstacles and setbacks. It takes a strong sense of purpose and persistence to overcome these challenges and achieve success.
The determination to see a vision through, even in the face of failure, is a key characteristic of successful entrepreneurs. It shows that they have a clear understanding of their goals and are willing to work tirelessly to achieve them. This level of commitment and tenacity is essential for overcoming the many obstacles that entrepreneurs face on the road to success.
In conclusion, the entrepreneur's determination and resilience in the face of challenges and failures is a clear indication of their entrepreneurial spirit and drive to succeed.
For more details :
https://brainly.com/question/353543
https://brainly.com/question/13628349
The following response is one of the best examples of handling feedback. as we learned in the course, that receiving feedback is a skill that employees can be trained to handle this type of feedback. the employee recognizes the mistake and is asked to elaborate without blaming others. in addition, employees asked for advice beyond their job role. this allows both the person and the supervisor to feel comfortable sharing any feedback and have the potential to be a great mentor. being a mentor changes that dynamic of being overly concerned about how the person would take any feedback. asking for more personal experience type of feedback from supervisor seems like a great way to build relationship. also, the employee was more specific and wanted to know at what instance the mistake occurred. this is one of the three fundamentals of three effective feedback content: specific behaviors. in contrast, there are only few weaknesses. one of the weaknesses would be not taking any note while responding to the supervisor. in the future, you always want to be able to reference back and keep track of information. this also allows you to keep track of your progress and evaluate it as well. another, should do is be more proactive and ask if we can set-up a regular follow-up meeting to discuss moving forward.
Based on the given options, the following response is one of the best examples of handling feedback: Option A.
"The employee recognizes the mistake and is asked to elaborate without blaming others. Additionally, they ask for advice beyond their job role, which allows both the employee and supervisor to feel comfortable sharing feedback and has the potential to be a great mentor. The employee is also specific in their request for feedback on when the mistake occurred, which is a fundamental of effective feedback content. However, one weakness is that the employee did not take notes during the feedback session, which could be improved upon in the future. The employee should be more proactive and ask for regular follow-up meetings to discuss progress moving forward." This response demonstrates a willingness to take responsibility for mistakes, ask for feedback, and seek opportunities for growth and improvement. It also acknowledges areas for improvement and suggests concrete steps to address them.
To learn more about handling feedback click here
brainly.com/question/24426740
#SPJ4
Complete Question
The following response is one of the best examples of handling feedback. as we learned in the course, that receiving feedback is a skill that employees can be trained to handle this type of feedback.
a) the employee recognizes the mistake and is asked to elaborate without blaming others. in addition, employees asked for advice beyond their job role. this allows both the person and the supervisor to feel comfortable sharing any feedback and have the potential to be a great mentor. being a mentor changes that dynamic of being overly concerned about how the person would take any feedback.
b) asking for more personal experience type of feedback from supervisor seems like a great way to build relationship. also, the employee was more specific and wanted to know at what instance the mistake occurred. this is one of the three fundamentals of three effective feedback content: specific behaviors.
c) there are only few weaknesses. one of the weaknesses would be not taking any note while responding to the supervisor. in the future, you always want to be able to reference back and keep track of information. this also allows you to keep track of your progress and evaluate it as well.
d) another, should do is be more proactive and ask if we can set-up a regular follow-up meeting to discuss moving forward.
point-of-sale (POS) terminal
a computer used to collect, store, and report all the information of a sales transactiontrue or false
Computers called point-of-sale (POS) terminals are used to gather, store, and report all the details of a sales transaction. This statement is true.
A point-of-sale (POS) terminal is a computer-based hardware and software system used to process sales transactions at a retail or other point of purchase. The system includes hardware components such as a cash register, barcode scanner, credit card reader, and other peripherals. The software component includes a user interface to enter the sale amount and select the payment method.
The POS terminal captures the transaction data and stores it in a database for later analysis and reporting. This information can be used for inventory management, sales analysis, and customer relationship management. POS systems are widely used in retail, hospitality, and other industries where the sale of goods or services occurs at a fixed location.
To learn more about point-of-sale
https://brainly.com/question/14115766
#SPJ4
What excites your about real estate?
An exciting factor about real estate is the potential for financial gain.
Why is real estate exciting ?Real estate can be an exciting field for those who are passionate about the potential for financial gain, creative expression, community impact, and dynamic work environments.
Real estate can be a lucrative investment, and many people are drawn to the potential for making money through buying, selling, or renting properties and it also offers opportunities for creative expression, such as through interior design, architecture, or landscaping.
Find out more on real estate at https://brainly.com/question/15415136
#SPJ1
Which of the following would result in an increase in GDP?
Answer:
More investments mean that there is more money in the economy, leading to more investments, which will come with higher amounts of money as a reward, and a high GDP.
please answer the questions i wasted all my points on this
1. Explain why Pine states no experiences can be one hundred percent natural.
2. Explain the correlation between Shakespeare and the economy.
3. Pine uses Starbucks as an example to illustrate how price points change as consumers move from purchasing a simple product to purchasing an experience. Explain what happens to the cost for the customer as these stages progress.
On Beverly last project, the team identified only a few lessons learned. Which approach to lessons learned can she implement on her current project to identify most of the lessons learned?
Answer:
Explanation:
Beverly can implement a proactive approach to lessons learned on her current project. This approach involves regularly collecting feedback from team members, stakeholders, and customers throughout the project lifecycle. This feedback can be used to identify potential areas of improvement and to develop strategies for avoiding similar issues in the future. Additionally, Beverly can use retrospective meetings to discuss successes and failures of the project and to identify any lessons learned.
Salo department is the result of
Answer:
Explanation:
a package film
After hearing a knock at your front door, you are surprised to see the Prize Patrol from a large, well-known magazine subscription company. It has arrived with the good news that you are the big winner, having won $21 million. You have three options.
(a) Receive $1.05 million per year for the next 20 years.
(b) Have $8.25 million today.
(c) Have $2.25 million today and receive $750,000 for each of the next 20 years.
Your financial adviser tells you that it is reasonable to expect to earn 13 percent on investments.
Here's a breakdown of the three options you have after winning 21 million and their financial implications.
Option (a) - Receive $1.05 million per year for the next 20 years:
This option would give you a steady stream of income for the next 20 years. However, you would not have access to the entire $21 million upfront. The total payout over 20 years would be $21 million, which means that the present value of this cash flow using a 13% discount rate would be approximately $6.36 million.
Option (b) - Have $8.25 million today:
This option would give you the largest lump sum of cash upfront. However, you would not have access to the remaining $12.75 million that you would have received under Option (a) or (c). The present value of $8.25 million using a 13% discount rate would be approximately $8.25 million.
Option (c) - Have $2.25 million today and receive $750,000 for each of the next 20 years:
This option would give you access to some of the cash upfront and a steady stream of income for the next 20 years. The total payout over 20 years would be $17.25 million, which means that the present value of this cash flow using a 13% discount rate would be approximately $5.21 million. Additionally, the $2.25 million that you would receive upfront would have a present value of approximately $2.25 million.
Based on the present value calculations, Option (b) - taking the $8.25 million upfront - would provide you with the highest present value of cash.
To know more about income:
https://brainly.com/question/17961582
#SPJ4
A stock's beta is more relevant as a measure of risk to an investor who holds stocks in a well-diversified portfolio than its standard deviation.
True
False
It is true that a stock's beta is more relevant as a measure of risk to an investor holding stocks in a well-diversified portfolio than its standard deviation.
Although both are popular measures of volatility, there is one thing that makes beta better than standard deviation.Beta determines the volatility of an asset relative to the benchmark index. But the standard deviation only tells you about the security in question and not how it compares to the market or other securities. While the standard deviation determines a fund's volatility based on the disparity in its returns over a period of time, beta, another useful statistical measure,compares a fund's volatility or risk to its index or benchmark. Beta is useful for determining the near-term risk of a security and for analyzing volatility to arrive at equity costs when using the CAPM. However,since beta is calculated using historical data points,it becomes less meaningful to investors looking to predict a stock's future movements.
To learn more about stock's beta please click on below link.
https://brainly.com/question/29382586.
#SPJ4
I will give brainliest and ratings if you get this correct
Every point on an indifference curve is ranked as either more or less liked than every other point that isn't on the curve.
When indifference curve is negatively sloped?The marginal rate of substitution must always be positive, according to the indifference curve's negative slope, to be true.The law of decreasing marginal rate of substitution causes an indifference curve to be convex to the origin. Because of the marginal rate of substitution, a consumer must give up some amount of good y in order to consume more good x.A technique for locating the local minima and maxima of a function subject to equality restrictions is the Lagrange multiplier approach.The budget line's slope and the indifference curve's slope are equal.To know more about curve, visit:
https://brainly.com/question/26460726
#SPJ1
2. Yenework is a sole entrepreneur of Gold Jewelry producer. She produces Q bracelets per week at an average weekly cost of production equal to +1000. She employed her father as a manager of business at 2800birr 4900 Q per month and one skilled labor at 30birr per unit produced. Her cost of smithy construction was 4200birr and the company uses only 1 kg of 24 carat gold per week by purchasing at a market price of 6790birr.(4%) A. What is her weekly total cost function? B. What is her weekly TC if her company produces 7 bracelets per week? C. What is her weekly AC if her company produces 7 bracelets per week? D. What is her company's TFC of production? E. What is her company's AFC of production? F. What is her AVC if her company produces 7 bracelets per week? G. What is her company's weekly MC function? H. Graph her TC, TFC, AFC, AVC and MC cost functions.
Entrepreneur: “A person who starts a business and is willing to risk a loss to make money.”
What is the meaning of Entrepreneur?An entrepreneur is a person who has an idea and tries to develop a good product or service that others will purchase, together with a business to help them in their endeavor. An entrepreneur is seen as visionaries or an innovator since they take on the majority of the risk and responsibility for their new company.
A person who spots a need in the market and works to fill it is called an entrepreneur. The word has historically been used to describe a person who begins a business because they sense an economic opportunity in being able to meet a specified need.
Learn more about Entrepreneur here:
https://brainly.com/question/30580906
#SPJ9
On August 31, 2024, the general ledger of Ballet Shoes shows a balance for cash of $7,824. Cash receipts yet to be deposited into the checking account total $3,281. The company’s balance of cash does not reflect a debit card payment for the purchase of postage expense ($87) or an electronic funds transfer for rent expense ($1,305). The bank statement also revealed the company recorded a debit card transaction for supplies of $412, but the actual amount was $512. These amounts are included in the balance of cash of $3,051 reported by the bank as of the end of August.
Required:
1. Prepare a bank reconciliation to calculate the correct ending balance of cash on August 31, 2024.
2. Record the necessary entry(ies) to adjust the balance for cash.
Answer: 5
Explanation: 5
Anjo sold his residential house and lot for 5,00,000 Anjo purchased a lot when it was worth
1,000,000 and constructed on it the house at a total cost of 2,500,000 the lot had zonal
value of 4,000,000 and assesed value of 2,500,000 .the house had an assesed value
P2,500,000tje house had an assessed value of 2,000,000.
Selling price P5,000,000
========
Fair value of land (P4M or 2,.5M w/e is h 4,000,000
Assessed value of improvement 2,000,000
Fair market value (HIGHER) 6,000,000
========
The capital gains tax shall be computed at 6% x P6,000,000 or 360,000
vvvvvvv
For P5,000,000,000, Anjo sold his house and land for residential use. We must ascertain the adjusted cost basis and the net selling price in order to compute the capital gains tax.
How can it be calculated in detail?Land and building costs add up to the original cost of the property.
Land cost is equal to P4,000,000 or the higher of the assessed value or the zonal value.
Construction expense: P2,500,000
Initial cost of the property equals P4,00,000 plus P2,500,000, or P6,500,000.
The property's initial purchase price minus permitted deductions is its adjusted cost basis.
Allowable deductions = Assessed Improvement Value, which is P2,000,000
Adjusted cost basis is equal to P6,500,000 minus P2,000,000, or P4,500,000.
Net Selling Price (NSP): The NSP is the actual selling price less any permitted reductions.
P5,000,000 is the selling price.
Zero for allowable deductions
Selling price - Allowable deductions is P5,000,000 - P0,000,000, which is the net selling price.
Capital gains tax is calculated at 6% of the net selling price.
6% times the net selling price is the capital gains tax.
Capital gains tax is 6% times P5,000,000.
Tax on capital gains is P300,000.
Thus, P300,000 in capital gains tax will be due when Anjo sells his home and land.
To learn more about taxes visit here:
https://brainly.com/question/17217164
#SPJ1
Raphael lives in San Diego and runs a business that sells guitars. In an average year, he receives $724,000 from selling guitars. Of this sales revenue, he must pay the manufacturer a wholesale cost of $424,000; he also pays wages and utility bills totaling $266,000. He owns his showroom; if he chooses to rent it out, he will receive $4,000 in rent per year. Assume that the value of this showroom does not depreciate over the year. Also, if Raphael does not operate this guitar business, he can work as a paralegal, receive an annual salary of $21,000 with no additional monetary costs, and rent out his showroom at the $4,000 per year rate. No other costs are incurred in running this guitar business.Identify each of Raphael's costs in the following table as either an implicit cost or an explicit cost of selling guitars. Implicit Cost 0 Explicit Cost 0 a.The rental income Raphael could receive if he chose to rent out his showroom b.The wholesale cost for the guitars that Raphael pays the manufacturer c.The salary Raphael could earn if he worked as a paralegal d.The wages and utility bills that Raphael pays Complete the following table by determining Raphael's accounting and economic profit of his guitar business. Profit (Dollars) Accounting Profit Economic Profit Alternatively, the economic profit he would earn as a paralegal would be $? If Raphael's goal is to maximize his economic profit, he stay in the guitar business. True or false: Raphael is not earning a normal profit because his profit is positive. a.False b.True
Accounting profit is $34,000. Economic profit is - $7,000. Explicit cost are cost incurred in the course of running a business.
What is Explicit cost?Explicit costs are regular business expenses that are recorded in the general ledger of a firm and have a direct impact on its profitability. They have specific monetary values that are carried over to the income statement.
Wages, leasing payments, utilities, raw materials, and other direct costs are a few examples of explicit costs. Only explicit costs are taken into account when determining a company's profit because they clearly have an impact on its bottom line.
Depreciation is an explicit cost even if it cannot be directly linked to the cost of the underlying corporate asset because it cannot be physically traceable. The residual income that is left over after all explicit costs have been covered by a business's net income (NI).
Learn more about Explicit cost, here
https://brainly.com/question/27042286
#SPJ9
Yvette is a hard-working college junior. On Thursday, she decides to work nonstop until she has answered 154 practice problems for her math course. She starts work at 8:00 AM and uses a table to keep track of her progress throughout the day. She notices that as she gets tired, it takes her longer to solve each problem.
8:00 AM 0
9:00 AM 70
10:00 AM 112
11:00 AM 140
Noon 154
Later, the teaching assistant for Yvette’s math course gives her some advice. “Based on past experience,” the teaching assistant says, “working on 56 problems raises a student’s exam score by about the same amount as reading the textbook for 1 hour.” For simplicity, assume students always cover the same number of pages during each hour they spend reading.
Given this information, in order to use her 4 hours of study time to get the best exam score possible, how many hours should she spend working on problems and how many should she spend reading?
Yvette should spend all of her 4 hours reading the textbook to get the best exam score possible.
What is teaching assistant?A person who helps a teacher with their educational duties is known as a teaching assistant, teacher's aide, education assistant, or team teacher (TT).
According to the teaching assistant, working on 56 problems raises a student's exam score by the same amount as reading the textbook for 1 hour.
It means working on 1 problem raises the exam score by the same amount as reading the textbook for 1/56 of an hour (or about 1.79 minutes).
Yvette worked on a total of 154 problems, which means her work had the same effect on her exam score as reading the textbook for approximately 154/56 hours, or 2.75 hours.
If Yvette spends all of her 4 hours reading the textbook, she will cover 4 hours x 1 hour per 56 problems = 0.0714 hours per problem. She will be able to read approximately 4/0.0714 = 56 x 4 = 224 problems.
Reading the textbook during the entire four hours would cover more ground than working on problems would, and Yvette's exam grade would rise accordingly.
Thus, this can be concluded regarding the given scenario.
For more details regarding teaching assistant, visit:
https://brainly.com/question/28384283
#SPJ1
When it comes to the time value of
money, which of the following is true?
A. The purchasing power of money will decrease over
time because of inflation.
B. The purchasing power of money will increase because
there is more gold in the market.
C. The purchasing power of money will never change
over time.
D. The purchasing power of money will always be
controlled by the government over time.
A. The purchasing power of money will decrease over time because of inflation.
What is inflation?Inflation is an increase in an economy's overall level of prices for goods and services. Each unit of currency can purchase fewer products and services as the general price level rises, hence inflation is characterized by a decline in the purchasing power of money.
Furthermore, the rate at which prices increase over a specific time period is known as inflation. Inflation is often measured in broad terms, such as the general rise in prices or the rise in a nation's cost of living.
Learn more about inflation here:
https://brainly.com/question/777738
#SPJ1
I will give brainliest and ratings if you get this correct
Answer:
An inferior good is a good that consumers are less likely to purchase when their income increases, as compared to a normal good that consumers are more likely to purchase with an increase in income. When the price of an inferior good decreases, there are three effects that change the consumer's equilibrium conditions: the substitution effect, the income effect, and the total effect.
Substitution Effect: When the price of an inferior good decreases, it becomes relatively cheaper compared to other goods. As a result, consumers will shift their consumption from other goods to the inferior good, as it becomes a more attractive option. This shift in consumption is referred to as the substitution effect and can be represented graphically by a movement along the demand curve for the inferior good to the right.
Income Effect: The decrease in price of an inferior good also increases the consumer's real income. Consumers can now purchase more of all goods, including the inferior good, with the same amount of money. This increase in the quantity of the inferior good demanded due to the increase in real income is referred to as the income effect and can be represented graphically as a rightward shift in the demand curve for the inferior good.
Total Effect: The total effect of a decrease in price of an inferior good on consumer's equilibrium conditions is the sum of the substitution effect and the income effect. This effect can be represented graphically as a combination of both a movement along the demand curve for the inferior good to the right and a rightward shift in the demand curve for the inferior good.
Explanation:
In conclusion, when the price of an inferior good decreases, the consumer's equilibrium conditions change due to a substitution effect, an income effect, and a total effect. The substitution effect causes a movement along the demand curve to the right, the income effect causes a rightward shift in the demand curve, and the total effect is the sum of these two effects.
Presented below are changes in all the account balances of Jackson Furniture Co. during the current year, except for retained earnings.
Increase (Decrease)
Cash $87,630 Accounts Payable $(58,870)
Accounts Receivable (net) 46,760 Bonds Payable 83,270
Inventory 135,960 Common Stock 128,400
Investments (54,790) Additional Paid-in Capital 15,260
Compute the net income for the current year, assuming that there were no entries in the Retained Earnings account except for net income and a dividend declaration of $27,130 which was paid in the current year.
To compute the net income for the current year, we need to use the following formula: Net Income = Revenues - Expenses Since we do not have information about revenues and expenses, we can use the changes in account balances to calculate the net income.
We also need to take into account the dividend declaration of $27,130 which was paid in the current year. First, let's calculate the total increase in equity: Total Increase in Equity = Increase in Common Stock + Increase in Additional Paid-in Capital - Dividends Paid Total Increase in Equity = $128,400 + $15,260 - $27,130 = $116,530 Next, we can calculate the total increase in liabilities: Total Increase in Liabilities = Increase in Accounts Payable + Increase in Bonds Payable Total Increase in Liabilities = ($58,870) + $83,270 = $24,400 Finally, we can calculate the total increase in assets: Total Increase in Assets = Increase in Cash + Increase in Accounts Receivable + Increase in Inventory + Decrease in Investments Total Increase in Assets = $87,630 + $46,760 + $135,960 - ($54,790) = $215,560To calculate the net income, we use the following formula: Net Income = Total Increase in Equity - Total Increase in Liabilities - Total Increase in Assets Net Income = $116,530 - $24,400 - $215,560 = ($123,430) Therefore, the net income for the current year is a loss of $123,430. This suggests that the company's expenses exceeded its revenues, resulting in a net loss.
For more information on dividend see:
https://brainly.com/question/16014276
#SPJ4
Discuss five specifics of the law for USMCA . Find and discuss at least two major disputes that have arisen related to free/less-free trade among the nations involved. (I'm not really sure what I'm supposed to be looking for here. Please, Help.)
For North American employees, farmers, ranchers, and businesses, the USMCA, which replaced the North America Free Trade Agreement (NAFTA), is a win-win situation.
What drawbacks exist with the USMCA?
Because the USMCA maintains investor-state dispute settlement (ISDS) procedures in the energy sector, which critics allege favor industry interests, and because it does not clearly tie the pact's commitments to particular MEAs, they argue that the agreement has not made enough progress.
What does the USMCA abolish?
Canada will eliminate milk price classes 6 and 7 six months following the USMCA's implementation.
Canada will make sure that the cost of the skim milk solids used to make nonfat dry milk, milk protein concentrates, and infant formula is fixed at a price that isn't less than what nonfat dry milk costs in the US.
Learn more about the USMCA
brainly.com/question/30138330
#SPJ1
A company developed the following linear model to help budget annual expenses over time. In this model, x represents the number of years after 2009, and y represents the expense budget (in dollars). Interpret the y-intercept.
When the independent variable (the number of years after 2009) is zero, the y-intercept of a linear model indicates the value of the dependent variable (in this example, the spending budget).
How can it be explained in detail?The y-intercept may reflect the starting or baseline sum of money allotted for costs in the year 2009 in the context of a budget for yearly expenses through time. It can be taken to mean the least sum of money the business required to set aside for outlays during the first year of the budget. On the other hand, if the y-intercept is negative, it can be a representation of liabilities or debt that the business had to pay off in the first year of the budget.
It is crucial to remember that the assumptions behind the particular linear model being employed as well as the context in which it is being utilized should be taken into account when interpreting the y-intercept.
To learn more about variables visit here:
https://brainly.com/question/29583350
#SPJ4
Painter Corporation was organized by five individuals on January 1 of the current year. At the end of January of the current year, the following monthly financial data are available Total revenues Total expenses (excluding income taxes) Income tax expense (all unpaid as of January 31) Cash balance, January 31 Receivables from customers (all considered collectible) Merchandise inventory (by inventory count at cost) Payables to suppliers for merchandise purchased from them $ 299,000 192,000 33,200 66,950 33,200 95,700 (will be paid during February current year) Common stock 27,350 61,500 No dividends were declared or paid during January Required Complete the following two statements PAINTER CORPORATION Income Statement Total revenues Less: Total expenses (excluding income tax) Pretax income Less: Income tax expense Net income $ 299,000 192,000 107,000 33,200 73,800 PAINTER CORPORATION Balance Sheet At January 31, Current Year Assets Cash Receivables from customers Merchandise inventory S66,950 33,200 95.700 S 195,850 Total assets Liabilities Payables to suppliers Income taxes payable 27,350 33.200 60,550 Tota liabilities Stockholders Equity 61,500 73,800 135,300 Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity S 95,850
$195,850 is the sum of all liabilities and stockholders' equity. Liabilities in accounting refer to debts a corporation has to third parties, such as people, businesses, and governmental institutions.
Statement of Profit for PAINTER CORPORATION
Total earnings equal $299,000.
Less: $192,000 in costs overall (before income taxes).
Income before taxes: $107,000
Less: Cost of income taxes: $33,200
$73,800 is the net income.
Balance Statement for the current year as of January 31 for PAINTER CORPORATION
Cash on hand is $66,950.
Customers' receivables equal $33,200
Inventory of goods = $95,700
Assets total $195,850.
Liabilities: $27,350 in payables to suppliers
Taxes due on income = $33,200
Liabilities total $60,550.
incearca incearca judeţ judeţ judeţ
Earnings retained = $73,800
$135,300 is the total stockholders' equity.
$195,850 is the sum of all liabilities and stockholders' equity.
Learn more about liabilities here:
https://brainly.com/question/15133845
#SPJ4
Which details best help develop the central idea of the panels? select three options.
The following information is essential for developing the panels' main idea: Developing the fundamental idea, Content, Organization, These three components are crucial for one to successfully.
Any visual presentation, whether it takes the form of posters, infographics, or comic strips, must include the fundamental idea of the panels. It stands in for the primary idea or message that the artist wants to get through and is the basis for how the panels are put together and what they say. It's crucial to grasp the presentation's goal and the message the author intends to deliver in order to build the panels' main idea. While the organisation of the panels should successfully express the main idea and steer the audience through the material, the content of the panels should be pertinent and directly support the main theme.
Learn more about central idea of the panels here:
https://brainly.com/question/24062605
#SPJ4
Which factor is not affected by cost of living?
O A. Insurance rates you pay
•
B. How much housing costs
O C. The cost of health care
• D. The quality of your relationships
A factor that is not affected by cost of living is D. The quality of your relationships.
What is affected by cost of living ?The quality of your relationships is not directly affected by the cost of living. The cost of living refers to the amount of money needed to maintain a certain standard of living, which includes expenses such as housing, food, transportation, healthcare, and other necessities.
While money can certainly impact relationships, it is not the only factor that determines the quality of those relationships.
Find out more on cost of living at https://brainly.com/question/29999328
#SPJ1
Consider the following actions associated with a cost management information system:
a. Eliminating a non-value added activity
b. Determining how much it costs to perform a heart transplant
c. Calculating the cost of inspecting components from an outside supplier
d. Developing and using a budgeted income statement for a division
e. Eliminating the need to inspect by improving the quality of products and processes
f. Determining whether selling a product at split-off is more profitable than processing it further before selling it
g. Calculating the cost of producing an e-book
h. Using a trend report on quality costs to assess the effectiveness of a quality improvement program
i. Determining the units that must be sold to break even
j. Calculating the cost to perform a tooth extraction
k. Determining the total cost of moving goods
l. Using JIT purchasing and manufacturing to significantly reduce inventories
m. Using unit product cost to help develop a bid price
Required:
Classify the above actions as being associated with one of the following objectives of a cost management information system:
1. Costing of products, services, and other objects of interest
2. Planning and control
3. Decision making
(e) Eliminate the need to inspect by improving the quality of products and processes.(2) Planning and control.
It includes collecting,analyzing, and reporting cost information to budget, forecast, and monitor costs more effectively. These are Activities without added value.They are those activities for which the client is not willing to pay.They only add cost and time. Non-value-added activities are also called waste,as discussed in the previous article. a function that includes the processes required to maintain effective financial control of projects estimating,budgeting, tracking, analyzing, forecasting, and reporting cost information events and operations.This tool helps to establish the relationship between inputs and outputs.
To learn more about quality of products please click on below link.
https://brainly.com/question/16345222.
#SPJ4
compare and contrast the South African mixed economy with a centrally planned economic system
Each would have the same labor and materials costs (food, serving containers, napkins, etc.) of $1.76 per sandwich. Sandwiches sell for $8.00 each in all locations. Rent and equipment costs would be $5,000 per month for location A, $5,500 per month for location B, and $5,800 per month for location C.
a. Determine the volume necessary at each location to realize a monthly profit of $10,000. (Do not round intermediate calculations. Round your answer to the nearest whole number.)
b-1. If expected sales at A, B, and C are 21,000 per month, 22,000 per month, and 23,000 per month, respectively, calculate the profit of the each locations? (Do not round intermediate calculations. Round your answer to the nearest whole number.)
b-2. Which location would yield the greatest profits?
multiple choice
Location A
Location B
Location C Correct
a. The contribution margin per sandwich is $8.00 - $1.76 = $6.24. To earn a profit of $10,000, the number of sandwiches that must be sold at each location is:
For location A: ($10,000 + $5,000) ÷ $6.24 = 2,237 sandwiches
For location B: ($10,000 + $5,500) ÷ $6.24 = 2,431 sandwiches
For location C: ($10,000 + $5,800) ÷ $6.24 = 2,563 sandwiches
Rounded to the nearest whole number, the necessary volumes are:
For location A: 2,237 sandwiches
For location B: 2,431 sandwiches
For location C: 2,563 sandwiches
b-1. The monthly profit for each location can be calculated as:
For location A: (21,000 × $6.24) - $5,000 = $79,440
For location B: (22,000 × $6.24) - $5,500 = $86,480
For location C: (23,000 × $6.24) - $5,800 = $93,720
Rounded to the nearest whole number, the profits are:
For location A: $79,440
For location B: $86,480
For location C: $93,720
b-2. Location C would yield the greatest profits, as it has the highest monthly profit of $93,720.
What is the necessary volume for location A to realize a monthly profit of $10,000?A) 8,523B) 10,798C) 12,841To determine the necessary volume for location A to realize a monthly profit of $10,000, we need to calculate the total costs for location A, which is the sum of the labor and materials costs, rent and equipment costs, and the desired profit. This would be $16,760 per month ($1.76 per sandwich x volume + $5,000 = $16,760). Solving for the volume, we get 10,798 sandwiches (rounding up to the nearest whole number) to achieve a monthly profit of $10,000. Therefore, the answer is B) 10,798.
To know more about Contribution Margin visit: https://brainly.com/question/15186113
#SPJ1
