Answer:
Bond Price= $26,042.12
Explanation:
Giving the following information:
Coupon= (0.044/2)*30,000= $660
YTM= 0.068/2= 0.034
Time to maturity= 7*2= 14 semesters
Face value= $30,000
To calculate the price of the bond, we need to use the following formula:
Bond Price= cupon*{[1 - (1+i)^-n] / i} + [face value/(1+i)^n]
Bond Price= 660*{[1 - (1.034^-14)] / 0.034} + [30,000 /(1.034^14)]
Bond Price= 7,256.14 + 18,785.98
Bond Price= $26,042.12
Entries for Notes Payable A business issued a 60-day, 10% note for $96,000 to a creditor on account. Journalize the entries to record (a) the issuance of the note and (b) the payment of the note at maturity, including interest. Assume a 360-day year. If an amount box does not require an entry, leave it blank. If required, round yours answers to whole dollar.
Answer:
Business A
Journal Entries:
Debit Accounts Payable $96,000
Credit 10% Notes Payable $96,000
To record the issuance of a 60-day, 10% note to a creditor on account.
Debit 10% Notes Payable $96,000
Debit Interest Expense $1,600
Credit Cash $97,600
To record the payment of the note at maturing, including interest.
Explanation:
a) Data and Analysis:
Accounts Payable $96,000
10% Notes Payable $96,000
10% Notes Payable $96,000
Interest Expense $1,600
Cash $97,600
g. provides the following information for 20X8: Net income $260,000 Market price per share of common stock $60 per share Dividends paid $200,000 Common stock outstanding at Jan. 1, 2018 150,000 shares Common stock outstanding at Dec. 31, 2018 230,000 shares The company has no preferred stock outstanding. Calculate the price/earnings ratio of common stock.
Answer:
53.09
Explanation:
The price/earnings ratio of common stock is an investment ratio that compares the current price of the stock to its earnings per share, in a bid to assess the stock performance relative to its earnings
share price=$60
earnings per share=net income/year-end shares outstanding
net income=$260,000
year-end outstanding shares=230,000
earnings per share=$260,000/230,000
earnings per share=$1.13
price/earningsratio=$60/$1.13
price/earningsratio=53.09
A company borrowed $10,000 from the bank at 5% interest. The loan has been outstanding for 45 days. Demonstrate the required adjusting entry for this company by completing the following sentence. The required adjusting entry would be to debit the Interest __________________ account and ___________________ the Interest ___________________ account.
Answer:
The required adjusting entry would be to debit the Interest expense account and credit the Interest payable account.
Explanation:
The number of days that a loan debt stays unpaid is referred to as the outstanding number of days.
In line with the general accounting rules, all expenses must be debited. Therefore, the interest expense has to be debited.
Interest payable, however, is the amount owed to a lender by a firm and is thus credited as the matching journal entry to the interest expense.
Therefore, we have:
The required adjusting entry would be to debit the Interest expense account and credit the Interest payable account.
A company is designing a product layout for a new product. It plans to use this production line eight hours a day in order to meet projected demand of 480 units per day. The tasks necessary to produce this product are:
Answer:
1. The correct option is C. 54.
2. The correct option is E. 60.
3. The correct option is A. 3.
4. The correct option is E. 90%.
5. The correct option is E. y.
Explanation:
Note: This question is not complete. The complete question is therefore provided before answering the question as follows:
A company is designing a product layout for a new product. It plans to use this production line eight hours a day in order to meet projected demand of 480 units per day. The tasks necessary to produce this product:
Task Time (sec) Immediate Predecessor
u 30 none
v 30 u
w 6 u
x 12 w
y 54 x
z 30 v, y
1. Without regard to demand, what is the minimum possible cycle time (in seconds) for this situation?
A. 162
B. 72
C. 54
D. 12
E. 60
2. If the company desires that output rate equal demand, what is the desired cycle time (in seconds)?
A. 162
B. 72
C. 54
D. 12
E. 60
3. If the company desires that output rate equal demand, what is the minimum number of workstations needed?
A. 3
B. 4
C. 5
D. 6
E. 7
4. If the company desires that output rate equal demand, what would be the efficiency of this line with the minimum number of workstations?
A. 100%
B. 92.5%
C. 75%
D. 87.5%
E. 90%
5. If the company desires that output rate equal demand, what is the last task performed at the second workstation in the balance which uses the minimum number of workstations?
A. u
B. v
C. w
D. x
E. y
The explanation of the answers is now provided as follows:
1. Without regard to demand, what is the minimum possible cycle time (in seconds) for this situation?
The minimum cycle time is equal to the maximum task time. From the data in the question, it can be seen that the maximum task time is 54. Therefore, the correct option is C. 54. That is, the minimum possible cycle time (in seconds) for this situation is 54.
2. If the company desires that output rate equal demand, what is the desired cycle time (in seconds)?
Desired cycle time (in seconds) = Demand rate / Number of hours per days = 480 / 8 = 60
Therefore, the correct option is E. 60.
3. If the company desires that output rate equal demand, what is the minimum number of workstations needed?
Total task time = 30 + 30 + 6 + 12 + 54 + 30 = 162
Minimum possible cycle time = 54
Therefore, we have:
Minimum number of workstations needed = Total task time / Minimum possible cycle time = 162 / 54 = 3
Therefore, the correct option is A. 3.
4. If the company desires that output rate equal demand, what would be the efficiency of this line with the minimum number of workstations?
Line efficiency = Total task time / (Minimum number of workstations needed * Desired cycle time) = 162 / (3 * 60) = 162 / 180 = 0.90, or 90%
Therefore, the correct option is E. 90%.
5. If the company desires that output rate equal demand, what is the last task performed at the second workstation in the balance which uses the minimum number of workstations?
The last task should be the one has the longest task time. From the data table in the question, it can be observed that y is the task that has the longest task time. This implies y is the task to perform last.
Therefore, the correct option is E. y.
Many people have strong negative reactions to pop-up, pop-behind, interstitial, and rich media ads. Assume you are the director of an advertising agency that specializes in creating and placing these ads. You see an opinion article in your local online newspaper that harshly criticizes these ads as intrusive and unnecessary. Write a details rejoinder to post in the comments section of this article in which you explain, from the advertiser’s viewpoint, why these ads can be more effective advertising media than text ads.
Answer:
Im on a private jet eating popeyes chicken, i be flexing like im eating popeyes spinach
Explanation:
plato users
During the month of August, Ranson Productions applied overhead to jobs using an overhead rate of $0.60 per dollar of direct labor. Actual direct labor in August was 12,000 hours at $15.00 per hour, for a total of $180,000. Estimated overhead in August was $111,600.
Actual overhead was composed of the following items:
Indirect materials $ 16,400
Indirect labor 22,000
Utilities 24,500
Depreciation 38,700
Repair expense 13,500
Total $115,100
How much overhead was applied during August by Ranson Productions?
A. $115,100
B. $108,000
C. More information is needed to answer
D. $111,600
Answer:
B. $108,000
Explanation:
The computation of the overhead applied is as follows:
= Total actual direct labors cost × overhead rate
= $180,000 × 0.60
= $108,000
Hence, the overhead was applied during August by Ranson Productions is $108,000
We simply applied the above formula
You are considering buying bonds in ACBB, Inc. The bonds have a par value of $1,000 and mature in 35 years. The annual coupon rate is 20.0% and the coupon payments are annual. If you believe that the appropriate discount rate for the bonds is 17.0%, what is the value of the bonds to you
Answer:
Bond Price= $121.27
Explanation:
Giving the following information:
Face value= $1,000
Coupon= 0.2*1,000= $20
Maturity= 35 years
Discount rate= 17%
To calculate the price of the bond, we need to use the following formula:
Bond Price= cupon*{[1 - (1+i)^-n] / i} + [face value/(1+i)^n]
Bond Price= 20*{[1 - (1.17^-35)] / 0.17} + [1,000/(1.17^35)]
Bond Price= 117.16 + 4.11
Bond Price= $121.27
Suppose potential income is $80 billion, actual income is $40 billion, and expenditures don't vary with income. If the actual budget deficit is $8 billion and the marginal tax rate is 20 percent, the cyclical deficit:________
a) is $4 billion.
b) is $8 billion.
c) cannot be determined from the given information.
d) is between zero and $8 billion.
Midsouth Stitchery wants to improve their productivity. Their process yield is currently 91.56% based on 9816 yards of material. If they are going to improve their productivity to 92.10, how many yards of finished material will they have to produce from the same amount of material input
Answer:
9,040.54 yards
Explanation:
Input material amount I = 9,816 yards
Productivity P = 92.10%
Let Output Material amount be O
O = I * P
O = 9,816 yards * 0.9210
O = 9040.536
O = 9040.54 yards
So, the unit of yards they will have to produce from the same amount of material input is 9,040.54 yards
Fill in the missing information. Your broker faxed to you the following information about two semiannual coupon bonds that you are considering as a potential investment.â Unfortunately, your fax machine is blurring some of theâ items, and all you can read from the fax on the two different bonds is theâ following:
Features IBM Coupon Bond AOL Coupon Bond
Face value (Par) $5,000 $5,000
Coupon Rate 9.5% ?
Yield to maturity 6.5% 5.5%
Years to maturity 15 30
Price ? $8,302.28
Answer:
Filling the missing information:
Features IBM Coupon Bond AOL Coupon Bond
Face value (Par) $5,000 $5,000
Coupon Rate 9.5% 12.8%
Yield to maturity 6.5% 5.5%
Years to maturity 15 30
Price $6,410.40 $8,302.28
Explanation:
a) Data and Calculations:
Features IBM Coupon Bond AOL Coupon Bond
Face value (Par) $5,000 $5,000
Coupon Rate 9.5% ?
Yield to maturity 6.5% 5.5%
Years to maturity 15 30
Price ? $8,302.28
Features IBM Coupon Bond AOL Coupon Bond
Face value (Par) $5,000 $5,000
Coupon Rate 9.5% 12.8% ($640/$5,000 * 100)
Yield to maturity 6.5% 5.5%
Years to maturity 15 30
Price $6,410.40 $8,302.28
Price of IBM Coupon Bond:
N (# of periods) 15
I/Y (Interest per year) 6.5
PMT (Periodic Payment) 475
FV (Future Value) 5000
Results
PV = $6,410.40
Sum of all periodic payments $7,125.00
Total Interest $5,714.60
Coupon interest rate of AOL Bond:
N (# of periods) 30
I/Y (Interest per year) 5.5
PV (Present Value) 8302.28
FV (Future Value) 5000
Results
PMT = $640.27
Sum of all periodic payments $-19,208.06
Total Interest $5,905.78
Coupon interest rate = 12.8% ($640/$5,000 * 100)
Sheridan Company just began business and made the following four inventory purchases in June: June 1 144 units $ 952 June 10 184 units 1472 June 15 184 units 1564 June 28 144 units 1296 $ 5284 A physical count of merchandise inventory on June 30 reveals that there are 194 units on hand. Using the FIFO inventory method, the amount allocated to ending inventory for June is
Answer:
$210,688
Explanation:
The LIFO method of accounting for inventory involves issuing the last items purchased first and those purchased first are issued last hence the acronym LIFO which means last in first out
Given that June 1 144 units $ 952 June 10 184 units 1472 June 15 184 units 1564 June 28 144 units 1296 $ 5284 A physical count of merchandise inventory on June 30 reveals that there are 194 units on hand
Total number purchased during the month
= 144 + 184 + 184 + 144
= 656 units
Using the last in first out method, the 194 units left at the end would be made up of the 144 units purchased on June 1 and 50 units purchased on 10 June hence the amount allocated to ending inventory for June is
= 144 * $952 + 50 * $1472
= $210,688
Mussatto Corporation produces snowboards. The following per unit cost information is available: direct materials $17, direct labor $6, variable manufacturing overhead $3, fixed manufacturing overhead $19, variable selling and administrative expenses $1, and fixed selling and administrative expenses $13. Using a 30% markup percentage on total per unit cost, compute the target selling price. (Round answer to 2 decimal places, e.g. 10.50.)
Answer:
the target selling price is $76.70
Explanation:
The computation of the target selling price is shown below:
= Total cost + 1 × markup percentage
= ($17 + $6 + $3 + $19 + $1 + $13) × (1.30)
= $76.70
hence, the target selling price is $76.70
We simply applied the above formula so that the target selling price could be determined
During its first year of operations, the McCormick Company incurred the following manufacturing costs: Direct materials, $4 per unit, Direct labor, $2 per unit, Variable overhead, $3 per unit, and Fixed overhead, $160,000. The company produced 20,000 units, and sold 15,000 units, leaving 5,000 units in inventory at year-end. What is the value of ending inventory under absorption costing
Answer: $85,000
Explanation:
Find out the cost of per unit of inventory under absorption costing:
= Direct materials + Direct labor + Variable overhead + Fixed overhead per unit
= 4 + 2 + 3 + 160,000 / 20,000 units
= 4 + 2 + 3 + 8
= $17 per unit
If 5,000 units are left, the value of those units are:
= 5,000 * 17
= $85,000
The following is the data for Lauren Enterprises:
Selling and administrative expenses $75,000
Direct materials used 265,000
Direct labor (25,000 hours) 300,000
Factory overhead application rate $16 per DLH
Inventories
Beginning Ending
Direct materials $50,000 $45,000
Work in process 75,000 90,000
Finished goods 40,000 25,000
What is the cost of goods manufactured?
a. $1,115,000
b. $965,000
c. $955,000
d. $950,000
Answer:
b. $965,000
Explanation:
Calculation of Cost of Goods Manufactured
Particulars Amount
Direct material used $265,000
Direct labor $300,000
Factory overhead $400,000
Total manufacturing cost $965,000
A friend wants to borrow money from you. He states that he will pay you $4,700 every 6 months for 9 years with the first payment exactly 2 years and six months from today. The interest rate is an APR of 5.8 percent with semiannual compounding. What is the value of the payments today
Answer:
PV= $56,508.47
Explanation:
Giving the following information:
Semmiannual payment= $4,700
Number of periods (n)= 9*2= 18 semesters
Interest rate= 0.058/2= 0.029
First, we need to calculate the value of the payments at the moment of the first payment:
PV= A*{(1/i) - 1/[i*(1 + i)^n]}
A= Semmiannual payment
PV= 4,700*{(1/0.029) - 1/[0.029*(1.029^18)]}
PV= $65,191.42
Now, the present value using the following formula:
PV= FV / (1 +i)^n
n= 2.5*2= 5 semesters
PV= 65,191.42 / (1.029^5)
PV= $56,508.47
trình bày các vai trò của đạo đức kinh doanh trong phát triển doanh nghiệp
Answer:
Explanation:
Trung thực: Tính trung thực trong đạo đức kinh doanh thể hiện ở chỗ không buôn bán, sản xuất những mặt hàng nhà nước cấm, không dùng các chiêu trò dối trá để đạt được lợi ích của mình, không trốn thuế, làm ăn phi pháp; không tham ô, hối lộ; trung thành chấp hành đúng quy định của pháp luật…
Tôn trọng con người: Tôn trọng con người bao gồm tôn trọng nhân viên, đối tác khách hàng, đối thủ cũng như tất cả những người làm việc cùng với mình
Đạo đức kinh doanh gắn liền lợi ích của công ty doanh nghiệp với lợi ích chung của khách hàng và trách nhiệm đối với xã hội
information of samriyan enterprises is given below.a)Started bussiness with Rs 20000 b) purchase good of Rs 15000 from Ram.c)Goods sold on cash Rs 18000 d)Cash paid Ram Rs 10000 e)A gain goods purchase from Ram of rs 20000 f) Paid to Ram Rs 24000 in full settlement of his account.Required a) journal entries
Answer:
a) Dr: Cash 20000
Cr: Equity/Capital 20000
b) Dr: Goods 15000
Cr: Payable 15000
c) Dr: Cash 18000
Cr: Sales 18000
d) Dr: Payable 10000
Cr: Cash 10000
e) Dr: Goods 20000
Cr: Payable 20000
f) Dr: Payable 30000
Cr: Cash 24000
Cr: Profit and Loss 6000
Chance, Inc. sold 5,000 units of its product at a price of $172 per unit. Total variable cost per unit is $131, consisting of $92 in variable production cost and $39 in variable selling and administrative cost. Compute the manufacturing margin for the company under variable costing.
Answer:
$400,000
Explanation:
Computation for the manufacturing margin for the company under variable costing
Using this formula
Manufacturing margin= Sales - Total variable production cost
Let plug in the formula
Manufacturing margin=( 5,000*$172)- (5,000*$92)
Manufacturing margin=$860,000-$460,000
Manufacturing margin= $400,000
Therefore the manufacturing margin for the company under variable costing is $400,000
Conducting a search of the story is part of store closing duties why
Searching for the store is part of store closing duties. Why?
A. To look for empty boxes
B. To ensure that all trash has been removed
C. To make sure someone is not hiding
D. To make sure all merchandise is on the sales floor
Answer:
B. To ensure that all trash has been removed
Explanation:
The purpose of conducting a search of the store which is part of store closing duties is to ensure no detail is overlooked such as removing all the trashes available and eventually avoiding more work for the next morning.
In some other cases, it is also an opportunity to clear the corridors or spaces of any merchandise, carts, or litter around the floors.
Pop owns 87% of the common stock of Sugar. On December 31, 2017, Pop's Receivables include $296,880 that Pop advanced to Sugar. What portion (stated in dollars) of the intercompany receivable should be eliminated in preparing Pop's consolidated financial statements
Answer: $296,880
Explanation:
Pop owns more than 50% of Sugar which means that Sugar is a subsidiary of Pop's. When this happens, trade between the two are not shown in the consolidated financial statement unless the goods traded have been sold off to a third party.
As these goods have not, and are still considered accounts receivable to Sugar, the entire amount will be removed from the consolidated financial statements.
Indy Company has the following data for one of its manufacturing plants:
Maximum units produced in a quarter (3-month period): 250,000 units
Actual units produced in a quarter (3-month period): 204,000 units
Productive hours in one quarter: 25,000 hours
Actual cycle time: 7.35 minutes
Theoretical cycle time: 6 minutes
Required:
1. Calculate the amount of processing time and the amount of nonprocessing time. If required, round your answers to two decimal places.
Processing time minutes
Nonprocessing time minutes
2. Calculate the MCE. If required, round your answer to nearest whole number. %
Answer:
1. Processing time:
Processing time = Theoretical time
Processing time is there for 6 minutes
Non processing time = Actual cycle time - processing time
= 7.35 - 6
= 1.35 minutes
2. Manufacturing Cycle Efficiency (MCE):
= Processing time / Actual cycle time
= 6 / 7.35
= 81.6%
Ellie purchases an insurance policy on her life and names her brother, Jason, as the beneficiary. Ellie pays $41,000 in premiums for the policy during her life. When she dies, Jason collects the insurance proceeds of $615,000.
As a result, Jason reports gross income of:______.
Answer: $0
Explanation:
Life insurance proceeds are generally considered to be tax exempt in order to ease the burden on the bereaved which means that Jason does not have to report any gross income from receiving this insurance proceeds.
If Jason does not collect all the proceeds at once however, and leaves some or all of it with the insurance company to accumulate interest, he will have to pay taxes on that interest.
A physical count of merchandise inventory on July 30 reveals that there are 180 units on hand. Using the FIFO inventory method, the amount allocated to ending inventory for July is
Answer: $3,708
Explanation:
Using FIFO means that the earlier goods are sold before the later ones so the closing inventory would have the latest goods purchased.
If there are 180 units on hand, the cost would be:
54 units purchased at $22(180 - 54) units purchased at $20Closing inventory is:
= (54 * 22) + ( (180 - 54) * 20)
= (54 * 22) + ( 126 * 20)
= $3,708
NSDC has a contract to produce 9 satellites to support a worldwide telephone system (for Alaska Telecom, Inc.) that allows individuals to use a single, portable telephone in any location on earth to call in and out. NSDC will develop and produce the 9 units. NSDC has estimated that the R&D costs will be NOK (Norwegian Krone) 12,000,000. Material costs are expected to be NOK 6,000,000. They have estimated the design and production of the first satellite will require 100,000 labor hours and an 80 percent improvement curve is expected. Skilled labor cost is NOK 300 per hour. Desired profit for all projects is 25 percent of total costs.
A. How many labor hours should the eighth satellite require?
B. How many labor hours for the whole project of eight satellites?
C. What price would you ask for the project? Why?
D. Midway through the project your design and production people realize that a 75 percent improvement curve is more appropriate. What impact does this have on the project?
E. Near the end of the project Deutsch Telefon AG has requested a cost estimate for four satellites identical to those you have already produced. What price will you quote them? Justify your price.
we have the following information:
R&D = NOK 12000000
Materials = 6000000
Labour hours = 100000
Improvement curve = 80%
Skilled labour = 300/hour
Desired profit = 25%
a. Number of hours:
Using the learning curves table, the value for 80% in the 8th unit is = 0.5120
therefore the number of learning hours = 100000 x 0.5120
= 51200 hours
the eight satellite would need 51200 hours of labor
b. The labour hours for the whole project of 8
The corresponding value using the learning curves cumulative value table = 5.346
so the labour hours = 100000*5.346
= 534600 hours
The whole project requires 534600 hours.
c. Price for the project
We first find the total cost of the project
Total cost of labor = required hours x cost of labor
= 534600 x NOK300
= 160380000
Then we find the margin of profit
25% x total cost
25% (160380000 + 12000000 + 6000000)
= 178380000 x 0.25
= 44595000
The proposed price would be
44595000+160380000+12000000+6000000
= 222,975,000 NOK
the total price is 222,975,000 NOK. This is the price I would ask for.
D. a 75% rate is = 4.802 at 8 units in the cumulative values table.
Total hours = 100000x4.802
= 480200 hours
Total hours = 480200x 300
= 144060000
profit margin = 25% (144060000x6000000x12000000)
= 40515000
The impact that this has is that the profit margin has now fallen from 44595000 Nok to 40515000 NOK
E.
To build these satellites NSDC had 6million NOK
6million/2 = 3000000
4 units at 80 percent in the learning curve = 3.142
100000x3.142 = 314200 hours
Total cost of labor = 314200 hours x 300
= 94260000 NOK
Profit margin = 25% x 94260000 x 12000000 x 3000000
= 27315000 NOK
The justified price that i would quote them = 27315000+94260000+3000000+12000000
= 136575000 NOK
This is the proposed price for the 4
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The January 1, Year 1 trial balance for the Tyrell Company is found on the trial balance tab. The beginning balances are assumed. Tyrell Co. entered into the following transactions involving short-term liabilities. (Use 360 days a year.) Year 1.
Apr. 20 Purchased $40,250 of merchandise on credit from Locust, terms n/30.
May 19 Replaced the April 20 account payable to Locust with a 90-day, 10%, $35,000 note payable along with paying $5,250 in cash.
July 8 Borrowed $80,000 cash from NBR Bank by signing a 120-day, 9%, $80,000 note payable.
Aug. 17 Paid the amount due on the note to Locust at the maturity date.
Nov. 5 Paid the amount due on the note to NBR Bank at the maturity date.
Nov. 28 Borrowed $42,000 cash from Fargo Bank by signing a 60-day, 8%, $42,000 note payable.
Dec. 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Year 2
Jan. 27 Paid the amount due on the note to Fargo Bank at the maturity date.
Required:
Prepare the 2016 journal entries related to the notes and accounts payable of Tyrell Co.
Answer:
Tyrell Company
Journal Entries:
2016
Apr. 20 Debit Inventory $40,250
Credit Accounts Payable (Locust) $40,250
To record the purchase of inventory on account, terms n/30.
May 19 Debit Accounts Payable (Locust) $40,250
Credit 10% Note Payable (Locust) $35,000
Credit Cash $5,250
To record the issuance of note payable for 90 days and cash payment.
July 8 Debit Cash $80,000
Credit 9% Note Payable (BR Bank) $80,000
To record the borrowing on note payable for a 120-day period.
Aug. 17 Debit 10% Note Payable (Locust) $35,000
Debit Interest Expense $875
Credit Cash $35,875
To record payment on account, including interest calculated as follows: ($35,000 + $35,000 * 10% * 90/360)
Nov. 5 Debit 9% Note Payable (BR Bank) $80,000
Debit Interest Expense $2,400
Credit Cash $82,400
To record payment on account, including interest calculated as follows:
($80,000 + $80,000 * 9% * 120/360)
Nov. 28 Debit Cash $42,000
Credit 8% Notes Payable (Fargo Bank) $42,000
To record the borrowing on note payable for a 60-day
Dec. 31 Debit Interest Expense $308
Credit Interest Payable $308
To accrue interest ($42,000 * 8% * 33/360).
Explanation:
a) Data and Analysis:
2016
Apr. 20 Inventory $40,250 Accounts Payable (Locust) $40,250 terms n/30.
May 19 Accounts Payable (Locust) $40,250 10% Note Payable (Locust) $35,000 Cash $5,250
July 8 Cash $80,000 9% Note Payable (BR Bank) $80,000 a 120-day
Aug. 17 10% Note Payable (Locust) $35,000 Interest Expense $875 Cash $35,875 ($35,000 + $35,000 * 10% * 90/360)
Nov. 5 9% Note Payable (BR Bank) $80,000 Interest Expense $2,400 Cash $82,400 ($80,000 + $80,000 * 9% * 120/360)
Nov. 28 Cash $42,000 8% Notes Payable (Fargo Bank) $42,000 a 60-day
Dec. 31 Interest Expense $308 ($42,000 * 8% * 33/360) Interest Payable $308
2017
Jan. 27 8% Notes Payable (Fargo Bank) $42,000 Interest Payable $308 Interest Expense $252 Cash $42,560
Flack Corporation, a merchandiser, provides the following information for its December budgeting process: The November 30 inventory was 1,800 units. Budgeted sales for December are 4,000 units. Desired December 31 inventory is 2,840 units. Budgeted purchases are: Multiple Choice 5,800 units. 6,840 units. 4,000 units. 5,040 units. 1,240 units.
Answer: 5,040 units
Explanation:
Budgeted purchases are the purchases that the company needs to make in order to be able to sell its budgeted sales for the month and still have the desired ending inventory they want.
Budgeted purchases can be calculated by the formula:
= Budgeted sales + Desired Ending inventory - Opening inventory
= 4,000 + 2,840 - 1,800
= 6,840 - 1,800
= 5,040 units
Suppose an income tax is imposed that takes $2,000 from someone with an income of $20,000, $2,500 from someone with an income of $30,000, and $4,000 from someone with an income of $80,000. This tax would be classified as
Answer: Regressive tax
Explanation:
Regressive tax refers to a tax regime where the tax rate reduces as the level of income increases.
In the above scenario, the income tax rates are:
$20,000 income = 2,000 / 20,000 = 10%
$30,000 income = 2,500 / 30,000 = 8.3%
$8,000 income = 4,000 / 80,000 = 5%
Notice how the tax rates reduced as the income earned went up. This is why this is a regressive tax regime.
If the United States passed a tariff on imported steel which of the following would directly benefit?
A. Foreign steal companies
B. All Americans would benefit because of the lower price for steel
C. Businesses which imports steel
D. American steel producers
businesses which imports steel C
Consumers have broad but somewhat vague stereotypes about specific countries and specific product categories that they judge "best." Which item would most likely not fit in the "best" stereotype scheme?
Answer:
American chocolate
Explanation:
In the field of psychology, a 'stereotype' is defined as a general belief about a certain type or category of people.
The consumers around the world have some different stereotypes about some specific countries and some specific products that they judged to be the 'best'. Such an item which does not fit best in the stereotype scheme is 'American chocolate.'
The American chocolate have a different taste than others. It is tangy and is slightly sour. It is lighter. So some people have a different perception or stereotype for this item.
Thus the answer is 'American chocolate.'
what is crypto currency
what is the use of it
what is profit
Answer:
A cryptocurrency, crypto-currency, or crypto is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it. For businesses, profit is the positive financial gain remaining after all costs, taxes, and expenses have been deducted from total sales.
