Answer:
$996.43
Explanation:
present value of the loan = monthly payment x annuity factor
present value = $30,000PV annuity factor, 1%, 36 periods = 30.1075 (information from annuity tables)monthly payment = present value of the loan / annuity factor = $30,000 / 30.1075 = $996.4295 ≈ $996.43
Accounting definition?
Answer:
Accounting or Accountancy is the measurement, processing, and communication of financial and non financial information about economic entities such as businesses and corporations.
Explanation:
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The _____ portion of mixed cost that remains constant per unit with activity within the relevant range
Answer:
Fixed cost
Explanation:
Mixed cost is fixed cost plus variable cost
Fixed costs are costs that do not vary with output. e,g, rent, mortgage payments
If production is zero or if production is a million, Mortgage payments do not change - it remains the same no matter the level of output.
Hourly wage costs and payments for production inputs are variable costs
Variable costs are costs that vary with production
If a producer decides not to produce any output, there would be no need to hire labour and thus no need to pay hourly wages.
Please calculate the Net Present Value for the following scenario:
Today End of Year 1 End of Year 2 End of Year 3 End of Year 4
Outflow (investment) 2000
Inflow (return) 300 350 400 450
Discount rate-14%
Annual compounding at the end of the year (do not use your calculator's annuity due function)
Answer:
-$931.35
Explanation:
The computation of the net present value is given below:
Before that the present value is
Year Amount Discount factor at 14% Present value
1 $300 .877 $263.1
2 $350 .769 $269.15
3 $400 .675 $270
4 $450 .592 $266.4
PV of Cash Inflows = $1,068.65
And, the initial investment is $2,000
So, the net present value is
= The present value of Cash inflows - initial investment
= $1,068.65 - $2,000
= -$931.35
The computation of the net present value is:
-$931.35The computation of the net present value is given below:
Year Amount Discount factor at 14% Present value
1 $300 0.877 $263.1
2 $350 0.769 $269.15
3 $400 0.675 $270
4 $450 0 .592 $266.4
The Net Present Value for the following scenario will be -$931.35.
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The following information was taken from the 2017 financial statements of Planet Corporation:
Accounts receivable, January 1, 2017 $21,600
Accounts receivable, December 31, 2017 30,400
Sales on accounts and cash sales 438,000
Required:
Determine the cash collected from customers by Planet Corporation in 2017.
Answer:
$429,200
Explanation:
Considering the above information, cash collected from customers by Planet Corporation in 2017 would be;
= Accounts receivable January 1, 2017 + Sales on accounts and cash sales - Accounts receivables January 31, 2017
= $21,600 + $438,000 - $30,400
= $429,200
Recording Merchandising Transactions INSTRUCTIONS Record the following transactions in T-account form in your working papers for Sharp Shot Camera Shop. A partial chart of accounts follows:
General Ledger
Cash in Bank
Accounts Receivable
Merchandise Inventory
Accounts Payable
Sales
Apr 4. Sold 10 Canon cameras on account for $3,000, Sales Slip 224.
Apr.10 Sold 2 dozen photo albums for $150, cash, Sales Receipt 302.
Apr. 20 Sold 4 rolls of 35mm film for $24 cash, Sales Receipt 303.
Apr 4. Sold a Canon camera to a customer for $380 cash, Sales Receipt 304.
Answer:
Sharp Shot Camera Shop
General Ledger
Cash in Bank
Date Account Titles Debit Credit
Apr. 10 Sales $150
Apr. 20 Sales 24
Apr. 24 Sales 380
Accounts Receivable
Date Account Titles Debit Credit
Apr. 4 Sales $3,000
Sales
Date Account Titles Debit Credit
Apr. 4 Accounts Receivable $3,000
Apr. 10 Cash 150
Apr. 20 Cash 24
Apr. 24 Cash 380
Explanation:
a) Data and Calculations:
Apr 4 Credit Sales = $3,000
Apr. 10 Cash Sales = $150
Apr. 20 Cash Sales = $24
Apr. 24 Cash Sales = $380
b) The initial records are made in the journal which debits Cash and Accounts Receivable and credits Sales Account for each transaction.
In February 2008, the household survey indicated that about 250,000 people lost or left their jobs. At the same time, though, the ranks of the unemployed declined by nearly 200,000. The counterintuitive result was that the number of unemployed workers fell even as the economy was shedding jobs. What explains both a drop in employment and a reduction in the number of workers considered unemployed by the BLS
Answer:
The result can be explained by the fact that about 450,000 people got new jobs. This means that the 250,000 that left their jobs actually got new jobs in addition to 200,000 others who also got jobs (perhaps as replacements for the 250,000 that relocated jobs) after being unemployed for some time.
Another possible explanation may be as a result of some drop in the population resulting from aging and death, which causes a decline in labor force participation.
Explanation:
A drop in unemployment rates foreshadows that the economy is rebounding. This is a good sign of economic recovery. When new jobs are created due to technological advancements, people tend to move from one job to another, and those open positions are quickly refilled from the pool of the unemployed. This means that productivity will be on the increase, and the economy will be the better for it.
Given the following, calculate total manufacturing costs: Direct materials: $40,000; Direct labor: $100,000; Manufacturing overhead applied: $120,000; Beginning Work in process inventory: $30,000; Ending Work in process inventory: $12,000 Multiple choice question.
Answer:
cost of goods manufactured= $278,000
Explanation:
Giving the following information:
Direct materials: $40,000
Direct labor: $100,000
Manufacturing overhead applied: $120,000
Beginning Work in process inventory: $30,000
Ending Work in process inventory: $12,000
To calculate the total manufacturing costs, we need to use the following formula:
cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP
cost of goods manufactured= 30,000 + 40,000 + 100,000 + 120,000 - 12,000
cost of goods manufactured= $278,000
Suppose that the current exchange rate is €0.80 = $1.00. The direct quote, from the U.S. perspective is Group of answer choices €0.80 = $1.00. £1.00 = $1.80. None of the answers provided. €1.00 = $1.25.
Answer:
the direct quote from U.S. perspective is 1 Euro is $1.25
Explanation:
The computation of the direct quote from the U.S perspective is
Given that
Euro 0.80 = $1
Now
1 Euro = 1 ÷ 0.80 $
So,
1 Euro = $1.25
Hence, the direct quote from U.S. perspective is 1 Euro is $1.25
The financial statements of Walgreen Co. reported the following information (in millions): Year 2 Year 1 Cost of sales $51,098 $51,291 Inventories, net 6,852 7,036 The average inventory days outstanding in year 2 is: Group of answer choices 55.6 days 33.9 days 21.5 days 49.6 days
Answer:
49.6 days
Explanation:
The average inventory days outstanding is an example of an activity ratio. Activity ratios measures the efficiency with which comapnies carry out their daily tasks
The average inventory days outstanding = number of days in a period / inventory turnover
inventory turnover = cost of goods sold / average inventory
Average inventory = (6,852 + 7,036 ) / 2 = 6944
$51,098/ 6944 = 7.365
365/ 7.365= 49.6 days
State two goals you hope to achieve through applying your coursework this term to your workplace experience
Incomplete question. I answered from a general working perspective.
Answer:
1. communication skill improvement
2. time management skill improvement
Explanation:
1. Note, in virtually every work environment today, effective communication is key to achieve the objectives of the organization. Therefore, it is important to know;
what to say,how to say it,when to say it, andwho to say it to.2. Having time management skills is vital in today's fast pace work environment. Therefore, applying the coursework to gaining this skill-set is surely worth commendation.
According to the CME Group, the market price of the E-mini futures is $2,939.25. Each futures contract delivers 50 times the index. A long-only equity portfolio with market value of USD $10,000,000 has a beta of 1.5. The portfolio manager is planning to increase market exposure such that the portfolio beta becomes 2. How many futures contracts should the manager long/short
Answer:
E-Mini futures = $2,939.25
Contract Size = 50
Portfolio Value = $10,000,000, Beta 1.5
Target Beta 2, Planning to increase the exposure
Calculation of Number of contracts needed = [Portfolio Size x (Target Beta - Actual beta)] / Contracts Size x Future Price
= (10,000,000 x (2 - 1.5) ] / 50 x 2939.25
= (10,000,000 x 0.5) / 146962.5
= 5,000,000 / 146962.5
= 34.02228459641065
= 34
So, you need to go Long 34 contracts to Increase the exposure.
An investment will pay $150at the end of each of the next 3 years, $250 at the end of Year 4, $300 at the end of Year 5,and $500 at the end of Year 6. If other investments of equal risk earn 11% annually, what is its present value
Answer:
Total PV= $976.6
Explanation:
Giving the following information:
Cash flows:
Cf1 to 3= $150
Cf4= $250
Cf5= $300
Cf6= $500
Discount rate= 11%
To calculate the present value, we need to use the following formula on each cash flow:
PV= Cf*(1+i)^n
Cf1= 150/1.11= 135.14
Cf2= 150/1.11^2= 121.74
Cf3= 150/1.11^3= 109.68
Cf4= 250/1.11^4= 164.68
Cf5= 300/1.11^5= 178.04
Cf6= 500/1.11^6= 267.32
Total PV= $976.6
Which aspect of marketing (branding, promotion, or market research) is the most important for companies to consider when
doing business in the global economy, and why? Write one or two paragraphs to respond to this question. Support your
response with examples or other details
Winston Company estimates that the factory overhead for the following year will be $844,800. The company has decided that the basis for applying factory overhead should be machine hours, which is estimated to be 35,200 hours. The total machine hours for the year were 54,600 hours. The actual factory overhead for the year was $1,329,000. Enter the amount as a positive number. a. Determine the total factory overhead amount applied.
Answer:
Missing word "b. Calculate the over or under applied amount for the year. c. Prepare the journal entry to close factory overhead into Cost of Goods Sold."
Predetermined Overhead Rate = $844,800 / 35,200
Predetermined Overhead Rate = $24 per machine hour
a. Total Factory Overhead Applied = $24 * 54,600 hours = $1,310,400
b. Under-applied Overhead = $1,329,000 - $1,310,400 = $18,600
c. Journal Entry
Cost of Goods Sold Dr. $18,600
To Manufacturing Overhead Cr. $18,600
Patrick lives in a nation whose government embraces capitalism. He owns his own home and car, as well as his own business and building. Patrick maintains ownership due to:Group of answer choicesThe Freedom of choice.Eminent domain.The freedom of competition.The right to own private property.
Answer:
The right to own private property.
Explanation:
A property right is the exclusive or sole authority which determines the legal ownership of resources and how these resources are to be used, whether by individuals or government.
Hence, when property rights are well defined and markets are competitive, the market equilibrium is consistent with economic efficiency.
This ultimately implies that, when the ownership of resources are well defined and markets are competitive, all benefits from trade between the consumers and producers of goods and services has been maximized, and each units creating more benefit to the consumers than cost have been produced in the economy.
In this scenario, Patrick lives in a nation whose government embraces capitalism. He owns his own home and car, as well as his own business and building. Patrick maintains ownership due to the right to own private property.
g Assume you are given the following relationships for the Haslam Corporation: Sales/total assets1.6 Return on assets (ROA)4% Return on equity (ROE)7% Calculate Haslam's profit margin and liabilities-to-assets ratio. Do not round intermediate calculations. Round your answers to two decimal places. Profit margin: % Liabilities-to-assets ratio: %
Answer:
Profit margin % = 2.5%, Liabilities-to-assets ratio % = 42.86%
Explanation:
Profit margin % = Return on assets (ROA)/(Sales/total assets)
Profit margin % = 4% / 1.6
Profit margin % = 0.025
Profit margin % = 2.5%
Liabilities-to-assets ratio % = 1 - ROA/ROE
Liabilities-to-assets ratio % = 1 - 4%/7%
Liabilities-to-assets ratio % = 1 - 0.57143
Liabilities-to-assets ratio % = 0.42857
Liabilities-to-assets ratio % = 42.86%
A homeowner in a sunny climate has the opportunity to install a solar water heater in his home for a cost of $2,481. After installation the solar water heater will produce a small amount of hot water every day, forever, and will require no maintenance. How much must the homeowner save on water heating costs every year if this is to be a sound investment
Answer:
the question is missing the discount or interest rate that we must use to calculate the answer.
for example, if the interest rate is 5% per year, then this would be a good investment if the homeowner can save $2,481 x 5% = $124.05 per year.
but if the interest rate is 8%, then the homeowner would need to save at least $2,481 x 8% = $198.48 per year.
Assume the following data for a country: Category Number of People, Millions Total population 500 Population under 16 years of age or institutionalized 120 Not in the labor force 150 Unemployed 23 Part-time workers looking for full-time jobs 10 Instructions: Enter your answers as a whole number. a. What is the size of the labor force
Answer:
230 people
Explanation:
a. What is the size of the labor force
The labor force is the sum of the number of employed and unemployed, unemployed meaning people who lack employment, but who want to work, and are looking for a job.
First we substract the people that is not in the labor force, and those under 16 years of age from the total population: 500 - 120 - 150 = 230.
Of this figure, 150 people are unemployed, 23 are part time workers looking for full time employment (they are employed), and the rest: are 57 employed people.
So the size of the labor force is effectively 230 people.
Traditionally, design and manufacturing activities have taken place sequentially. Nowadays, the concurrent engineering is more preferred because:
Question Completion with Options:
O Concurrent engineering requires less teamwork.
O In concurrent engineering, design and manufacturing activities have taken place sequentially.
O Concurrent engineering saves resources and time.
O Concurrent engineering requires less support of an organization's top management.
Answer:
Traditionally, design and manufacturing activities have taken place sequentially. Nowadays, the concurrent engineering is more preferred because:
O Concurrent engineering saves resources and time.
Explanation:
Concurrent engineering or simultaneous engineering refers to the method of designing and developing products in which the different processes run at the same time and not sequentially. This method reduces product development time. It has also drastically reduced the time to market. Concurrent engineering has led to improved productivity and reduced costs, both in the design, manufacture, and marketing of products.
Executives identified _______ as the most important driver in creating an innovative culture.
A company records items on the cash basis throughout the year and converts to an accrual basis for year-end reporting. Its cash-basis net income for the year is $70,000. The company has gathered the following comparative Balance Sheet information: Beginning of year End of year Accounts payable $3,000 $1,000 Unearned revenue 300 500 Wages payable 300 400 Prepaid rent 1,200 1,500 Accounts receivable 1,400 600 What amount should the company report as its accrual-based net income for the current year?
Answer:
$71,200
Explanation:
The computation of the amount of the net income that should be based on accrual basis is given below:
Here we added the starting balance of liability and deduct the closing balance of liability
Also the asset closing balance would be added while the asset beginning balance would be deducted
So,
= Net income + Opening balance of account payable - closing balance of account payable + opening balance of unearned revenue - closing balance of unearned revenue + opening balance of wages payable - closing balance of wages payable + closing balance of prepaid rent - opening balance of prepaid rent + closing balance of account receivable - opening balance of account receivable
= $70,000 + $3,000 - $1,000 + $300 - $500 + $300 - $400 + $1,500 - $1,200 + $600 - $1,400
= $71,200
Kostelnik Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on total fixed manufacturing overhead cost of $488,400, variable manufacturing overhead of $2.70 per machine-hour, and 74,000 machine-hours. The company has provided the following data concerning Job A496 which was recently completed: Number of units in the job 20 Total machine-hours 80 Direct materials $ 930 Direct labor cost $1,860 The unit product cost for Job A496 is closest to: (Round your intermediate calculations to 2 decimal places.) Multiple Choice
Answer:
Unitary cost= $176.7
Explanation:
First, we need to calculate the predetermined overhead rate:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= (488,400/74,000) + 2.7
Predetermined manufacturing overhead rate= $9.3
Now, we can determine the total cost for Job A496:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Total cost= 930 + 1,860 + (9.3*80)
Total cost= $3,534
Finally, the unitary cost:
Unitary cost= 3,534/20
Unitary cost= $176.7
Suppose Brian is in the market for a used textbook and the campus bookstore is having a sale. If the initial price of the used book is $73.25 and the discounted price is $68 , what is the percentage change in the book price
Answer:Percentage change in the book price =7.17%
Explanation:
Initial Price of the used book = $73.25
Discounted price = $68.00
Percentage change in the book price = Initial Price - Discounted price/ Initial Price) x 100
($73.25 - $68.00) /$73.25 =5.25 /$73.25 =0.07167
=7.17%
Anabella Cunningham is 24 years old and single, lives in an apartment, and has no dependents. Last year she earned $55,000 as a sales representative for Planning Associates; $3,910 of her wages were withheld for federal income taxes. In addition, she had interest income of $142. She takes the standard deduction.Calculate her:a. taxable incomeb. tax liabilityc. tax refund or tax owed for 2018
Answer:
See below
Explanation:
1. Calculation of taxable income
Wages + interest earned
= $55,000 + $142
= $55,142
Index numbers make it possible to compare
Answer:
Different variable in relative forms
Explanation:
Index numbers allow to compare the relative values of different values.
To do so, an index is made by equating a value to a base value, usually a value of 100, and other variables that are to be compared with the index value are expressed in terms of how different or far they are from the base value.
For example, suppose that inflation for year 1 is 4%, and this is indexed to be the base value 100. If inflation for year 2 is 8%, then, the inflation value is 200 in terms of the index, or twice as much as the value of the base year.
HELP 20 POINTS HWLP HELL
ANSWER:
Path Breakers:
Leo is very confident in his own style of selling, he doesn't go the conventional way, and has charted out a route for himself that gets him the desired results.
Challengers:
Anna puts in a lot of hard work everyday. She also puts in extra effort and record the highest number of visits and calls per day.
Dependable problem solvers:
Tanya understands her customer's business and thinks in a directed manner to solve their problems in an assertive manner through communication.
Toilers:
George always follows up with his customers after a sale. He makes sure that the product has been as per promised by getting in touch with his customers.
Hope this helps!
How long must insurers maintain records of the information collected from senior consumers and other information used in making recommendations that were the basis for insurance transactions
Answer:
For five years after the insurance transaction is completed by the insurer
Explanation:
In order to maintain the records of the information that has been collected from the senior consumers the time period that is required is five years. It should be considered when the transaction of the insurance would be completed by the insurer
Hence, the above represent the answer
Peterson Photoshop sold $1,900 in gift cards on a special promotion on October 15, 2021, and sold $2,850 in gift cards on another special promotion on November 15, 2021. Of the cards sold in October, $190 were redeemed in October, $475 in November, and $570 in December. Of the gift cards sold in November, $285 were redeemed in November and $665 were redeemed in December. Peterson views the probability of redemption of a gift card as remote if the card has not been redeemed within two months. At 12/31/2021, Peterson would show a deferred revenue account for the gift cards with a balance of:
Answer:
$1,900
Explanation:
Calculation for what Peterson would show as a deferred revenue account for the gift cards with a balance of:
Deferred revenue account=$2,850+($285+$665)
Deferred revenue account=$2,850-950
Deferred revenue account=$1,900
Therefore At 12/31/2021, Peterson would show a deferred revenue account for the gift cards with a balance of:$1,900
value of all goods made within a county
Answer:
GDP can be measured by adding either consumption and investment, the value of final goods or total income
Explanation:
Explanation:
Gross Domestic Product, or GDP, is the sum total of all the goods and services produced within a country. It's used to compare economic performance between countries. GDP can be measured by adding either consumption and investment, the value of final goods or total income.
Types of Gross Domestic Product (GDP)
Real Gross Domestic Product. Real GDP is the GDP after inflation has been taken into account.
Nominal Gross Domestic Product. Nominal GDP is the GDP at current prices (i.e. with inflation).
Gross National Product (GNP) ...
Net Gross Domestic Product.
GDP DEFINITION. Gross Domestic Product (GDP) measures the total market value of all final goods and services produced within a country in one year.
Match the measurement bases with its definition. Definition Measurement Bases A. Amount of cash (or equivalent) that would be required if the asset were acquired currently. 5. Current market value B. Amount of cash (or equivalent) that would be received by selling the asset in an orderly liquidation. Liabilities may also be measured at current market value. 3. Net realizable value C. Amount of cash (or equivalent) that is paid to acquire the asset. In the case of a liability, this measurement base is the amount of cash (or equivalent) that is received when the obligation was incurred. This measurement base may change over the life of the asset/liability if it is adjusted for depreciation or amortization. 2. Current cost D. Amount of cash (or equivalent) that is expected to be received in exchange for an asset less the direct costs of the disposal. In the case of a liability, it is the amount of cash (or equivalent) expected to be paid to liquidate the obligation, including any direct costs of liquidation. 4. Present value of future cash flows E. Discounted net cash flows expected to be received on exchange of an asset, or paid out in the case of a liability. ▼
Answer and Explanation:
The matching is given below:
1. Historical cost: Historical cost is the cost that should be shown in the balance sheet. It is known as the real cost or original cost
hence, the correct option is C
2. Current cost: The current cost is the cost that should be incurred for the acquisition of an asset
Therefore the correct option is A
3. Net realizable value: The net realizable value is the value that could be determined by deducting any direct cost from the sale value also it would be use for pay off the liabilities
Therefore the correct option is D
4. Present value of future cash flows: The present value would be discounted at the particular rate of the market
Therefore the correct option is E.
5. Current market price: The amount of money that would be received when the asset is sold
Hence, the correct option is B.
