Answer:
Classified balance sheet for Spotlighter, Inc., as of January 31.
Assets
Non-Current Assets
Equipment $1,500
Total Non-current assets $1,500
Current Assets
Supplies $1,500
Cash $8,570
Total current assets $10,070
Total Assets $11,570
Equity and Liabilities
Equity
Common Stock $5,130
Total Equity $5,130
Liabilities
Accounts Payable $950
Note Payable $5,490
Total Liabilities $6,440
Total Equity and Liabilities $11,570
Explanation:
Step 1 :
First Record the Transactions as follows
J1
Cash $4,440 (debit)
Note Payable $4,440 (credit)
J2
Cash $5,130 (debit)
Common Stock $5,130 (credit)
J3
Equipment $1,500 (debit)
Cash $450 (credit)
Note Payable $1,050 (credit)
J4
Supplies $550 (debit)
Cash $550 (credit)
J5
Supplies $950 (debit)
Accounts Payable $950 (credit)
Step 2 :
Post the Account Balances to the Trial Balance as follows
Debit Credit
Cash ($4,440 + $5,130 - $450 - $550) $8,570
Note Payable ( $4,440 + $1,050) $5,490
Equipment $1,500
Supplies ($550 + $950) $1,500
Accounts Payable $950
Common Stock $5,130
Totals $11,570 $11,570
Step 3 :
After the Trial Balance has been prepared, Financial Statements can then be prepared using the list of Account Balances. Financial Statement include the Balance sheet that has been required for this question.
three most difficult responsibility of managing your family
Answer:
1) to do all the chores
2) to understand and stop family fights
3) to take care of a sick family member
You have the following information about your stock portfolio. You own 6 ,000 shares of Stock A which sells for $ 15 with an expected return of 8 %. You own 2,000 shares of Stock B which sells for $10 with an expected return of 6%. You own 4,000 shares of Stock C which sells for $12 with an expected return of 9%. You own 8 ,000 shares of Stock D which sells for $ 11 with an expected return of 16 %. What is the expected return on your portfolio
Answer:
Portfolio return = 0.1089 or 10.89%
Explanation:
The expected return on a portfolio is the weighted average of the individual stocks' returns that form up the portfolio. To calculate the expected return on the portfolio we use the following formula,
Portfolio return = wA * rA + wB * rB + ... + wN * rN
Where,
w is the weight of each stock in the portfolior is the return of each stockTo calculate the weight of each stock, we first need to calculate the investment in each stock and the total investment.
Stock A = 6000 * 15 = 90000
Stock B = 2000 * 10 = 20000
Stock C = 4000 * 12 = 48000
Stock D = 8000 * 11 = 88000
Total investment in portfolio = 90000+ 20000 + 48000 + 88000 = 246000
Portfolio return = 90000/246000 * 0.08 + 20000/246000 * 0.06 +
48000/246000 * 0.09 + 88000/246000 * 0.16
Portfolio return = 0.1089 or 10.89%
An accurate description of privatization is that Multiple Choice it started in China in the early 1980s. it involves replacing a state-owned monopoly with a private monopoly. it is most successful whencountries adopt communism. when newly privatized firms are protected from foreign competition, they have little incentive to restructure their operations to become more efficient. in today's context, a country runs the risk of experiencing a serious economic crisis if it liberalizes and privatizes state-owned enterprises.
Answer: When newly privatized firms are protected from foreign competition, they have little incentive to restructure their operations to become more efficient.
Explanation:
Privatization of state owned companies refers to the process of making them private firms that are owned by other parties apart from the Government.
This is usually done to the improve efficiency of the company as state owned firms can be inefficient resulting from being a monopoly.
If firms that are newly privatized are protected from foreign competition, the company would just become a private monopoly so they will not have any incentive to restructure their operations to become more efficient thereby defeating the whole point of making them efficient in the first place.
Natural Lite, Inc. reported the following items during fiscal 2010. The firm purchased marketable securities of $87,500, paid down a long-term loan in the amount of $650,000, purchased $4,250,000 of new equipment. The firm also issued $6,250,000 of common stock, paid $350,225 in dividends to its common shareholders, and repurchased $1,250,000 of common stock in the open market. What is the net cash provided by financing activities?
Answer:
$3,999,775
Explanation:
The first step is to calculate the cash outflows from financing activities
= $1,250,000 + $650,000 + $350,225
= $2,250,225
Since the cash inflow that is gotten from financing activities is $6,250,000 then the net cash provided from financing activities can be calculated as follows
= $6,250,000 - $2,250,225
= $3,999,775
Hence the net cash provided from financing activities is $3,999,775
The basic of objective of all marketing communication methods is to:______.
Answer:
drive the receiver into action
Explanation:
The objectives of all marketing communication methods can be summarily described as the following:
1. communicate to the targeted audience
2. to compete with other competitors
3. to convince the receiver into taking action.
Hence, basis of the objective of all marketing communication methods is to drive the receiver into action. This implies that the receiver, after finding the message beneficial will take action to buy the goods or services being offered.
The last in line for the payment of profits are the:_______ a) boundholders b) common stockholders c) preferred stockholders d) government e) customers.
Answer:
common stockholders
Explanation:
After taxes have been paid to the government, bondholders are paid.
Bondholders are those who borrow money to a company. They are paid fixed contractual amount at set dates
After bondholders have been paid, preferred stockholders are paid.
common stockholders are the last to be paid. common stockholders are owners of the company. common stockholders are individuals that purchase the shares of a company
A Japanese car company produces. It’s cars in the United States
Answer:
A) Toyota, a Japanese car company, producing cars in the United States
Explanation:
Here is the full question :
Which of the following would be included in GDP for the United States?
A) Toyota, a Japanese car company, producing cars in the United States
B) a U.S. professor taking a year off to teach at the London School of Economics
C) a tire manufacturer making and selling tires to Ford to be used in their new cars
D) Jane's purchase of a used car after her old car is destroyed in an accident
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export
Net export = exports – imports
When exports exceed import there is a trade deficit and when import exceeds import, there is a trade surplus.
Items not included in the calculation off GDP includes:
1. services not rendered to oneself
2. Activities not reported to the government
3. illegal activities
4. sale or purchase of used products
5. sale or purchase of intermediate products
The tires sold to Ford are an intermediate good and it would not be included in GDP
The used car bought by Jane would not be included in GDP because it wasn't produced in current year. The car would have been included in the GDP of the year it was produced. So, including it would count as double counting
The car produced in the US would be included in GDP because it was produced in the current year in the US
PittCo has a policy of paying salaries for contract labor on the 15th of the month following the labor services received. In December 2020, the company paid $15,000 in salaries for labor services received in November 2020. In addition, labor services received in December 2020 were $12,000 and will be paid by the company on January 15, 2021. What adjusting entry will PittCo record on December 31, 2020
Answer and Explanation:
The adjusting entry is shown below:
As on December 2020
Salaries Expense $12,000
Salaries Payable $12,000
(Being salary outstanding is recorded)
To record this, we debited the salaries expense as it increased the expenses and credited the salaries payable as it also increased the liabilities
Therefore this should be the adjusting entry passed
A(n) ______ is any business that has productive activities in two or more countries.
Answer:
Multinational enterprise.
Explanation:
A multinational enterprise is any business that has productive activities in two or more countries.
Generally, a multinational enterprise (MNE) has subsidiaries in other countries and as such derives a high amount of revenue outside its home country by providing goods and services that meets the need of customers through the use of advanced technology.
For a multinational enterprise (MNE), they have a central corporate facility but their products are not coordinated because their respective foreign markets offer unique products and services.
Some examples of a multinational enterprise (MNE) are Amazon, BNP Paribas, Alcatel-Lucent, Apple, Chevron, Casio, Disney, etc.
A Multinational enterprise is any business that has productive activities in two or more countries.Some examples of a multinational enterprise (MNE) are Amazon, BNP Paribas, Alcatel-Lucent, Apple, and Chevron etc.
What is the term Multinational enterprise about?
A multinational enterprise (MNE) has subsidiaries in other countries and as such derives a high amount of revenue outside its home country by providing goods and services that meets the need of customers through the use of advanced technology.
A multinational enterprise have a central corporate facility but their products are not coordinated because their respective foreign markets offer unique products and services.
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You were recently promoted to a management position at a large department store. One of your new responsibilities is recruiting and hiring people for various positions in the store. You decide to take a close look at some of the jobs that you will be hiring for in the next month to identify what types of people to recruit and hire. Because the Assistant Manager position requires someone who can learn quickly and rapidly acquire, process, and synthesize information, what type of intelligence will you be looking for to fill this position
Answer:
General mental ability
Explanation:
The job role in this scenario is for Assistant manager position requires someone that can learn quickly and rapidly acquire, process, and synthesize information.
This requires someone with general mental ability.
General mental ability is the skill one posses to easily understand verbal information, process numbers and information, and ability to see logical relationships between different concepts.
Other intelligence types include Spatial-visual intelligence, Logical-mathematical intelligence, Bodily-kinesthetic intelligence
please helppppppppppppppppppppppppppppp
Answer:
In the first column state the things that you need to do.In the next one say when they should be done. The next is how it's going.Then it's the date you finished.
Larry Simmons has split-limit 150/225/110 automobile liability insurance. Several months ago Larry was in an accident in which he was found to be at fault. Four passengers were seriously injured in the accident and were awarded $243,000 each because of Larry's negligence. How much of this judgment will Larry's insurance policy cover? What amount will Larry have to pay out of pocket?
Answer:
Larry's insurance policy cover = $729,000
Amount pay by Larry = $243,000
Explanation:
Given:
Number of insurance = 3
Each injured person awarded = $243,000
Find:
Larry's insurance policy cover
Amount pay by Larry
Computation:
Larry's insurance policy cover = Number of insurance × Each injured person awarded
Larry's insurance policy cover = $243,000 × 3
Larry's insurance policy cover = $729,000
Amount pay by Larry = $243,000 (For fourth person)
Any materials published before the year usually are not subject to copyright.
Answer:
1923 is the correct answer
Explanation:
edge 2020
Any materials published before the year 1923 usually are not subject to copyright.
What is copyright?When a person sets a creation in a physical style of expression, trademark, or a sort of property right, preserves the original authorship of that work to avoid it from inappropriately imitating.
A work must possess a "sense of excitement" and a "fair degree" of creativity, according to the Supreme Court, in order to be considered creative. However, some things, like slogans, brief phrases, names, and titles, lack creativity.
They finished printing all of the CCE "Book" volumes from 1923 to 1964 at the beginning of May. This gives us the most up-to-date picture of the number of books that were protected by copyright in the United States during this time.
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Are there any true communist economies today? Which economies call themselves communist, and what are they actually, if not communist?
Hey!! Glad I can help!!!
Answer:
Today, the existing communist states in the world are in China, Cuba, Laos and Vietnam. These communist states often do not claim to have achieved socialism or communism in their countries, but to be building and working toward the establishment of socialism in their countries.
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Although appealing to more refined tastes, art as a collectible has not always performed so profitably. Assume that in 2015, an auction house sold a statute at auction for a price of $10,521,500. Unfortunately for the previous owner, he had purchased it in 2009 at a price of $12,567,500. What was his annual rate of return on this sculpture? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
Answer:
His annual rate of return = $2,046,000/$12,567,500 * 100 = -16.28%
Explanation:
The sculpture yielded a negative rate of return as it decreased in value over the 6-year period from $12,567,500 to $10,521,500. This represents a total negative return of $2,046,000 ($12,567,500 - $10,521,500). When this negative return is expressed in percentage terms, it gives a negative 16.28%. This percentage shows by how much the sculpture has decreased in value.
4 types of customer markets?
Answer: the grouchy one, the nice one, the one that gets the whole entire store, and the one who needs 2 bags for one little thing
Explanation:
Suppose we have the following information for a hypothetical economy: Farmer Freddy sells $50 worth of grain to Mindy Miller. Mindy Miller turns the grain into flour, and sells it to Barney Baker for $80. Barney Baker turns the flour into cakes and sells them to customers for $200, who eat them. What is the GDP in this scenario
Answer: $200
Explanation:
The Gross Domestic Product is the final market value of goods and services produced in a country in a given period ( usually a year) and is a measure of economic performance.
Intermediate goods are not included in the calculation as it will lead to double counting since all the intermediate transactions will be reflected in the final price.
The GDP in this scenario is therefore $200.
ndicate the proper IFRS presentation: Select one: a. Listing noncurrent assets before current assets, and listing Retained Earnings before Current Liabilities b. Listing noncurrent assets before current assets, and listing Current Liabilities before Retained Earnings c. Listing current assets before noncurrent assets, and listing Retained Earnings before Current Liabilities d. Listing current assets before noncurrent assets, and listing Current Liabilities before Retained Earnings
Answer:
The proper IFRS presentation is:
d. Listing current assets before noncurrent assets, and listing Current Liabilities before Retained Earnings
Explanation:
The above listing is in the order of liquidity, especially of current assets and noncurrent assets. This listing shows all the current assets before the noncurrent assets with Cash, Accounts Receivable, etc following that order for the listing of current assets. And the more permanent assets are listed last. Similarly, for the Liabilities and Equity side, the Current Liabilities are listed first before the Noncurrent Liabilities followed by Equity (Share Capital and Retained Earnings) in that order.
What is the expected return on this stock given the following information?
State of the
Economy Probability E(R)
Room 0.40 16%
Recession 0.60 -22%
A. -8.07%.
B. -7.69%.
C. -6.80%.
D. -5.70%.
E. -5.22%.
Answer:
The expected return on this stock is:
C. -6.80%.
Explanation:
a) Data and Calculations:
State of the Economy Probability E(R) Weighted Value
Boom 0.40 16% 0.064
Recession 0.60 -22% -0.132
Total expected returns -0.068
= -6.8%
Let us assume that this stock is Stock A. Therefore, Stock A's expected return is given by adding the weighted returns of the two economic states of Boom and Recession. The result shows that the returns will be negative (-6.8%). This implies that instead of appreciating in value, the stock will actually depreciate by 6.8%.
Which is not a defining attribute of a group?a. Mutual goal b. Unstructured relationships c. Positive interdependence d. Interpersonal interaction.
Answer:
d. Interpersonal interaction.
Explanation:
A group may have mutual goal, unstructured relationships but may not necessarily have Interpersonal interaction.
For example, a group of 100 persons makes up the passengers on a flight heading to New York City (their mutual goal) and they're made of individuals of random backgrounds (unstructured relationships). They expect the pilots to deliver them safely at their destination (positive interdependence), however, it is likely that throughout the trip there is no interpersonal interaction among the passengers.
The HASF Company has an annual plant capacity of 50,000 units. Predicted data on sales and costs are given below.
Answer:
Down Below
Explanation:
If the HASF Company has an annual plant capacity of 50,000 units and produces to the capacity of 50,000, then the sales will be at the highest margin.
Management is considering the discontinuance of the manufacture and sale of Product G at the beginning of the current year. The discontinuance would have no effect on the total fixed costs and expenses or on the sales of Products F and H. What is the amount of change in net income for the current year that will result from the discontinuance of Product G
Answer:
net income will decrease by $30,000
Explanation:
The information is incomplete, so I looked for a similar question (see attached image).
Even though product G resulted in a $20,000 loss, it absorbed $50,000 of fixed costs.
The net financial effect of discontinuing product G = unavoidable fixed costs - previous gain or loss resulting from operations = -$50,000 - (-$20,000) = -$50,000 + $20,000 = -$30,000.
So net income will decrease by $30,000.
Harris Corporation is a wholesaler that sells a single product. Management has provided the following cost data for two levels of monthly sales volume. The company sells the product for $181.30 per unit. Sales volume (units) 8,000 9,000 Cost of sales $ 479,200 $ 539,100 Selling and administrative costs $ 736,000 $ 765,000 The best estimate of the total variable cost per unit is:
Answer:
Total variable cost = $88.9
Explanation:
Given:
Selling cost = $181.30 per unit
Sales volume (units) 8,000 9,000
Cost of sales $479,200 $539,100
Selling and administrative costs $736,000 $765,000
Variable cost [cost of sales] = [539,100-479,200]/[9000-8000]
Variable cost [cost of sales] = 59.9
Variable cost [Selling and administrative cost] = [765,000-736,000]/[9000-8000 ]
Variable cost [Selling and administrative cost] = 29
Total variable cost = $59.9 + $29
Total variable cost = $88.9
You plan to make five deposits of $1,000 each, one every 6 months, with the first payment being made in 6 months. You will then make no more deposits. If the bank pays 4% nominal interest, compounded semiannually, how much will be in your account after 3 years? Round your answer to the nearest cent.
Answer:
You will have $5,204.04 in your account after 3 years.
Explanation:
To calculate this, the formula for calculating the Future Value (FV) of an Ordinary Annuity is used as follows:
FV = M × {[(1 + r)^n - 1] ÷ r} ................................. (1)
Where,
FV = Future value of the amount after 3 years =?
M = Payment every 6 months = $1,000
r = Semiannual interest rate = 4% ÷ 2 = 2%, 0.02
n = number of times the payment is made = 5
Substituting the values into equation (1), we have:
FV = 1,000 * {[(1 + 0.02)^5 - 1] / 0.02}
FV = 1,000 * {[1.02^5 - 1] / 0.02}
FV = 1,000 * {[1.1040808032 - 1] / 0.02}
FV = 1,000 * {0.1040808032 / 0.02}
FV = 1,000 * 5.20404016
FV = 5,204.04016 = $5,204.04 to the nearest cent.
Therefore, you will have $5,204.04 in your account after 3 years.
A firm expects to sell 25,900 units of its product at $7 per unit. Pretax income is predicted to be $60,900. If the variable costs per unit are $3, total fixed costs must be:_____.
Answer:
Fixed costs= $42,700
Explanation:
Giving the following information:
A firm expects to sell 25,900 units of its product at $7 per unit.
Pretax income is predicted to be $60,900.
Unitary variable cost= $3
The pretax formula is:
Pretax income= total sales - total variable cost - total fixed costs
We have to isolate the fixed cost:
Fixed costs= total sales - total variable cost - pretax income
Fixed costs= 25,900*(7-3) - 60,900
Fixed costs= $42,700
Your landscaping company can lease a truck for $7,800 a year (paid at year-end) for 6 years. It can instead buy the truck for $38,000. The truck will be valueless after 6 years. The interest rate your company can earn on its funds is 7%. What is the present value of the cost of leasing?
Answer:
3717.6140
Explanation:
Calculation for the present value of the cost of leasing
Using this formula
Present value=Lease amount/Interest rate×(1-1/Increase interest rate^Numbers of Years)
Let plug in the formula
Present value=7,800/7%×(1-1/1.07^6)
Present value=11.142×0.3336577
Present value=3717.6140
Therefore the present value will be 3717.6140
Now consider machining jamming caused by both defective parts jamming and station malfunction. Assume component lot quality is at the level of 1/4 percent defective, what is the production rate? Can the production quota of 2,500 units per eight-hour shift be met? What is the percent downtime? What is the efficiency of this line? What is the throughput time?
Please find full question attached Answer:
C. production rate =2873 units per 7.8hrs
Production rate of 2500 units per 8 hours can be reached.
Percent Down time = 2.5%
Efficiency of line = 114.92%
Throughput time = 7.8 hrs
Explanation:
Please find explanation attached
How does the Federal Reserve control the financial system of the country?How does the Federal Reserve control the financial system of the country?
Answer:
The Federal Reserve controls inflation by managing credit, the largest component of the money supply
Explanation:
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Last month, you lent a work colleague $5000 to cover some overdue bills. He agreed to pay you in 1 month with interest at 2% for the month, thus owing you $5100. Today, when the repayment is due, he asked you to extend the loan for another month and he would pay you the $5100 next month. In the meantime, you have had the offer to invest as much as you wish in an oil-well venture that is expected to pay 36% per year and a hot new IT stock that is estimated to return 48% the first year. If you let your colleague have another month, what is the opportunity cost of your decision
Answer:
There are at least 2 opportunity costs associated with of letting your colleague have another month:
if you invested in the oil-well venture, you could have earned $5,100 x 36% = $1,836 in one yearif you invested in the new IT stock, you could have earned $5,100 x 48% = $2,448 in one yearYou could invest in one of these options, or divide your money and invest in both options, e.g. invest $2,000 in the oil company and $3,000 in the IT company. Each different investment proportion results in a different opportunity cost.
Explanation:
Opportunity costs are the benefits lost or extra costs associated to carrying out an investment or activity instead of another alternative. Sometimes you might have several opportunity costs for one investment, e.g. invest in the IT company which is risky, invest in corporate bonds which is less risky or invest in US securities which is a safe investment.
The provision which prevents the insured from bringing any legal action against the company for at least 60 days after proof of loss is known as:______.
Answer: Legal Actions provision
Explanation:
Legal Actions provision is simply the provision which prevents the insured from bringing any legal action against the company for at least 60 days after proof of loss.
It should be noted that the insured is simply the individual or the organization that is being convered by the insurance policy.
