Jada invests 1966 in a savings account with a fixed annual interest rate of 2.45% compounded continuously. It will take 140 years to have 3,000 in the account if no deposits or withdrawals are made
Let A be the future amount of money in the account.
A = 1966 e^(0.0245t)
3,000 = 1966 e^(0.0245t)
ln(3,000/1966) = 0.0245t
t = ln(3,000/1966)/0.0245
t = 145.9 years
Now, we have to round it off to nearest tenth, so it will be 140 years.
The interest you earn on interest is known as compound interest. This may be demonstrated with simple math: if you have $100 and it earns 5% interest every year, you will have $105 at the end of the first year. You'll have $110.25 by the end of the second year.
You got $5 not just on the initial $100 deposit, but also $0.25 on the $5 in interest. While 25 cents may not seem like much at first, it quickly adds up. Even if you never add another dime to that account, because to compound interest, you'll have more than $162 in 10 years and nearly $340 in 25 years.
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Which one of these transports income forward in time?
A. retirement savings
B. car loan
C. bank line of credit
D. credit card purchase.
A. retirement savings carries income forward in time.
Retirement funds, often known as pension funds, are investment choices that enable people to save a portion of their income for retirement. After retirement, these funds provide a consistent stream of funding; a retiree receives an annuity on their investment until death. Pension funds invest on behalf of the investor, and the revenue gained from that investment is donated as interest on the pool of money. These provide a fixed benefit since they are not affected by asset returns or market movements. To achieve consistent returns, retirement mutual fund plans often invest in low-risk investment choices such as government securities.
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19. If business inventories equal $40 billion at the beginning of the year and $55 billion at the end of the year, then, assuming no other changes, GDP must have: A. decreased by $15 billion. B. increased by $15 billion. C. increased by S40 bilion D. increased by $55 billion.
Option b: If business inventories equal $40 billion at the beginning of the year and $55 billion at the end of the year, then, assuming no other changes, GDP must have increased by $15 billion.
Gross domestic product is the monetary value of all finished goods and services produced within a country in a given period of time.
GDP provides a snapshot of a country's economy and is used to estimate the size of the economy and its growth rate.
GDP can be calculated in three ways using expenditure, production, or income, and adjusted for inflation and population for greater insight.
Real GDP takes under consideration the results of inflation, however nominal GDP does not.
Despite its limitations, GDP is an vital device to manual coverage makers, traders and corporations in making strategic decisions.
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FILL IN THE BLANK you made some rather clever suggestions at the meeting, but on the whole your ideas were far too _____ to serve as the basis for a workable plan.
While certain companies have particular physical operational requirements, there are some fundamental things that all business owners should take into account.
The malleable is what?During the meeting, you offered several pretty astute comments, but overall, your concepts were too fluid to be the foundation for a practical strategy. An organization's future vision and the fundamental steps needed to realise it are contained in a strategic plan, to put it simply. You have the opportunity to provide this information on your project page, including who you are, what you do, and a practical plan that will give people confidence in your ability to manage funds responsibly.
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1 pointsQUESTION 41.Some of the organizations that produced relevant standards of practice relevant to ITauditors includea. American Institute of Certified Public Accountants (AICPA)b. Institute of Internal Auditors (IIA)c. ISACAd. All of the above
Some of the organizations that produced relevant standards of practice relevant to IT auditors include all of the above.
The American Institute of Certified Public Accountants (AICPA), Institute of Internal Auditors (IIA), and ISACA all produce relevant standards of practice relevant to IT auditors. The AICPA produces the Statement on Auditing Standards (SAS), the IIA produces the International Professional Practices Framework (IPPF), and ISACA produces the Control Objectives for Information and Related Technology (COBIT). The AICPA was innovated in 1887, under the name American Association of Public Accountants. The association is integral to rule making and standard-setting in the CPA profession and serves as an advocate for legislative bodies and public interest groups. ISACA is an transnational professional association concentrated on IT governance. ISACA presently offers 8 instrument program as well as other micro-certificates.
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a real estate sales associate receiving a deposit on any transaction in which the associate is engaged on behalf of a broker shall
Promptly deliver the deposit to the broker, unless otherwise provided for in a written agreement between the associate and the broker.
The broker is responsible for ensuring that the deposit is placed in a trust or escrow account and that it is handled in accordance with state laws and regulations.
In most states, real estate sales associates are required to be licensed by the state in which they practice, and are also required to be affiliated with a licensed real estate broker.
When a sales associate is engaged in a real estate transaction on behalf of a broker, the associate is acting as an agent of the broker. In this capacity, the sales associate is responsible for representing the interests of the broker, including collecting and delivering deposits to the broker.
Complete question:
What is a real estate sales associate who receives a deposit on any transaction in which the associate is engaged on behalf of a broker called?
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Put the steps of the personal selling process in order. NOTE: The first step in the process should be the top item on your list1. prospect2. pre approach3. approach 4. presentation5. close6. follow up
Personal Selling Process – Identifying the Prospective Buyer, Pre-Approach, Approach, Presentation, Demonstration, Overcoming Objection, Closing and a Few Others
Personal selling Process , commonly referred to as face-to-face selling, is a sales technique where a single salesperson tries to persuade a consumer to purchase a product. It is a type of advertising where the salesman employs their knowledge and talents in an effort to close a deal. The vendors market the goods by their demeanour, demeanour, and in-depth product knowledge. They want to educate and persuade the customer to purchase or at the very least try the goods. The perfume and cosmetic departments at department shops are a fantastic place to see personal marketing in action.
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indicate which of the points are impossible for the economy to achieve and which are feasible but inefficient. check all that apply. characteristic a b c d impossible for the economy to achieve feasible but inefficient. Feasible but inefficient - A
Impossible for the economy to achieve
Point D is impossible for economy to achieve, whole point A is on which is feasible but inefficient.
As more butter is produced, the quantity of guns the economy must give up to produce more butter causes the production possibilities frontier to bow out. To put it another way, as production grows, so does the opportunity cost of butter.
The Production Possibilities Curve (PPC) is shaped by what is known as the law of increasing opportunity costs. This basically means that an economy becomes less efficient as it concentrates more of its resources on a single type of product. The PPC is therefore more curved in the middle and flatter at its ends.
Question incomplete:Indicate which of the points are impossible for the economy to achieve and which are feasible but inefficient. Check all that apply. Characteristics
1. Impossible for the economy to achieve
2. Feasible but inefficient
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determine which of the statements below is correct regarding the present value of an ordinary annuity.
The amount that may be invested at the stated rate today to provide a future series of equal periodic payments is known as the present value of an annuity.
What's a simple way to define investing?The term "investment" refers to a good or thing that is bought with the hope of making money or appreciating in value. Increasing the value of an asset through time is referred to as "appreciation." A person who purchases something as an investment does not want to use it right immediately; rather, they want to use it to profit from it in the future.
The main goal of investing is what?Investing is a terrific way to use your money and maybe grow your wealth. The value of your funds could increase and surpass inflation with wise investing. The power of compounding and the risk-return trade-off are principally responsible for investing's higher growth potential.
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refer to the above tables. if the amount/quality of resources are the same in both countries, we can conclude that:
We can draw the following conclusion: Herbania has better technology than Duckistan for manufacturing consumer goods.
What is consumer goods?In terms of economics, a consumer good is any tangible good created and then acquired in order to satiate the buyer's present desires and alleged requirements. Services, nondurable products, and durable goods make up the three categories of consumer goods.Consumer durables often last three years or longer, which is a large lifespan (although some authorities classify goods with life spans of as little as one year as durable). A durable good is consumed over a longer period of time than capital goods (physical items like structures, machinery, and equipment produced and utilised in the production of other products and services), which tends to increase the need for a number of maintenance services.The lines between capital and durable commodities can sometimes be blurred by the parallels in their maintenance and consumption habits. Durable goods are the most dynamic (or cost-dependent) component of consumption due to their durability and frequently higher cost. Mobile homes, furniture, appliances, and cars are typical examples of consumer durable goods. In addition, see capital.
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a city official would like to know if there is public support for increasing funding for arts programs. to collect data, the city official stands outside a concert hall after a show and surveys the first 20 people to exit about their opinion of raising funds for the arts. which of the following best describes any bias that may arise from the results? because only the first 20 people were surveyed, the city official may underestimate support for raising funds. because a convenience sample was taken, the city official should have an unbiased estimate of public support. because those in the sample generally support the arts, the city official may overestimate support for raising funds. because those in the sample generally support the arts, the city official should have an unbiased estimate of public support for raising funds.
Because those in the sample generally support the arts, the city official may overestimate support for raising funds - Option C.
Fundraising, often known as fund-raising, is the process of soliciting and accumulating voluntarily contributed funds from people, businesses, nonprofit organizations, or governmental bodies. Although efforts to raise money for nonprofit organizations are commonly referred to as fundraising, it is occasionally used to describe the search for and solicitation of investors or other sources of funding for for-profit businesses. Traditionally, the majority of it has involved soliciting for donations in person, such as by knocking on doors. However, new types of fundraising, like online and revamped grassroots, have developed recently. One important way that non-profit organizations can raise funds for their operations is through it.
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a. an educational software company wants to expand the number of economics questions that it offers and is considering hiring another economist. the company compares how much adding another worker will improve the product to the additional cost.
A company that makes educational software is thinking about hiring another economist in order to increase the amount of economics questions it provides.
Briefing:-The business weighs the marginal decisions of the additional expense against how much the product will be improved by hiring another employee.
Is it possible for two countries to trade with one another while specializing in products for which they have a comparative advantage?True. Countries have a tendency to concentrate in industries where they have a competitive advantage. This benefits both countries and makes the best use of the resources.
Do less developed countries possess a comparative advantage when trading with highly developed nations?the capacity to create a good or service for less money than a rival. Less developed nations have a comparative advantage in the production of some goods or services when trading with more developed nations.
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For an investor in the 37% federal income tax bracket, the tax-equivalent yield of a general obligation municipal bond with a coupon rate of 4.17% is
A) 2.63%.
B) 11.27%.
C) 5.72%.
D) 6.62%.
The computation for tax-equivalent yield is done by dividing the coupon rate by (100% - tax bracket). In this question, that is 4.17% ÷ (100% - 37%) = 4.17% ÷ 63%. That equals 6.62%.
Tax compliance refers to the policies and actions of individuals aimed at ensuring that taxpayers pay the right amount of tax at the right time and receive appropriate tax credits and relief.
A tax is a compulsory fiscal burden or other type of levy imposed on taxpayers by a government agency to fund government expenditures and various public expenditures. Most countries have tax systems to fund public, common social, or agreed-upon national demands and government
Hence the correct option is D
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websites like kayak or expedia use blank to allow customers to compare prices on airline flights and hotels.
Websites like Kayak or Expedia use bots to allow customers to compare prices on airline flights and hotels.
Which four categories of customer value are there?
With their needs, wants, and financial resources, consumers expect goods and services with features that maximize their satisfaction and value. The four different categories of value are: psychological value, financial value, social value, and functional value.
What does "market strategy" mean?
A marketing strategy is a long-term plan for attaining a company's objectives through comprehending client needs and forging an identifiable and long-lasting competitive advantage.
It covers every aspect, including choosing which channels to employ to reach your target audience and identifying who your clients are.
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explain why buffers are a crucial part of it project management. provide a specific example that supports your ideas and can illustrate negative consequences of not including buffers. in replies to peers, provide additional explanations and examples that have not already been included as part of the discussion.
The magnitude of buffers and other stabilising stocks, proportional to their flows. This idea is not unique to systems analysis – it is ingrained in mythology.
What's the magnitude in physics?
In physics, the word "magnitude" is used to characterise an object's maximum size and direction. Magnitude is a factor that is shared by both scalar and vector values. Something's magnitude is determined by its size. For example, a car moves faster than a bike in terms of speed. In this instance, the speed differential between the car and the bike is higher. It exposes the size or motion of an object in terms of absolute or relative dimensions.
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List the following documents in the order in which they are used when recording direct materials costs in job order cost accounting, with the first document on top.
Receiving reports
Materials ledger cards
Materials requisitions
job cost sheets
Documents used for tracking direct materials costs in job order cost accounting, with the first document being the most recent are the following:
Receiving reportsMaterials ledger cardsMaterials requisitionsJob cost sheetsMaterials ledger cards manually track raw material units at a warehouse. Transactions on the card include Supplier-purchased raw materials (recorded when received) and Warehouse-to-production material transfers.
The materials ledger card is a loss prevention and managerial accounting tool. Managers must track how often they order production stock and raw materials. They must also ensure that all materials reach the production plant on schedule without being stolen.
For each given task, a material requisition form will detail exactly which raw materials or finished goods must be retrieved from stock and put to use.
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a member is eligible for adsep due to pfa failures receives an apporved waiver for readiness. when, if ever, does the waiver expire?
The expiration date of a waiver for readiness that is approved for a member who is eligible for administrative separation due to PFA failures is usually specified on the waiver.
The expiration of a waiver for readiness that is approved for a member who is eligible for administrative separation due to Physical Fitness Assessment (PFA) failures depends on the specific terms of the waiver and the policies of the military branch.
Typically, a waiver for readiness is granted for a specific period of time, usually 6 months, to give the member an opportunity to improve their physical fitness and meet the standards required for retention in the military.
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to apply special pricing for a client, tax preparers must: enter a code 4 discount. enter a code 7 discount. select the proper pricing from a drop down on the fee summary screen. do nothing, the special pricing discount will be applied automatically.
Discount pricing describes a number of business practises where the cost of a good or service is reduced to attract customers, get rid of extra stock, or increase sales.
Which 4 different pricing strategies are there?There are many various pricing tactics, but four are frequently employed by small company owners: competitive pricing, cost-plus pricing, markup pricing, and demand pricing.Utilizing a lower price at first, penetration pricing is a commercial tactic used to draw clients to a new good or service. A new product or service can enter the market more easily and draw customers away from rivals by offering a cheaper price.Discount pricing describes a number of business practises where the cost of a good or service is reduced to attract customers, get rid of extra stock, or increase sales.To learn more about pricing tactics refer to:
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protects debtors from being forced to pay for goods and services when they have a legitimate dispute with the seller of those goods or services.
A debtor, also known as a borrower, is a business or person that owes money to a lender. Learn about the debtor protection legislation.
What do you mean by a business person?
someone who works in business, particularly someone in a key position within an organisation or a business owner: A typical businessperson has 170 interactions every day, including phone calls, talks in the hall, and emails. also see businessman A person who is in business is someone who is working on a project, endeavour, occupation, trade, or pursuit with the intention of making money. Finding the job may be the hardest part, but pursuing it with the intention of gaining an advantage or profit for both you and others is what distinguishes a businessman or businesswoman.
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Robyn is a sales associate. She knows she won't be personally responsible for supplying third-party financing, so she ignores that part of her course. Give Robyn advice
The Advice should be : “You must be knowledgeable about mortgages, as many clients need information from you regarding the mortgage process.”
Brokers should be familiar with third party funding as many of their clients seek capital through third party funding.
Mortgage
A mortgage is a type of loan used to purchase or maintain a house, land, or other type of property. The borrower agrees to pay the lender over time, usually in a series of periodic payments split into principal and interest. The real estate acts as collateral to secure the loan. Mortgages are used by individuals and businesses to purchase real estate without paying the full purchase price up front. The borrower pays off the loan and interest over a specified number of years until ownership of the property is clear and free. Most traditional mortgages are fully amortized. This means that the regular payment amount remains the same, but different amounts of principal and interest are paid with each payment over the life of the loan. Typical mortgage terms are 30 or 15 years. Mortgages are also known as liens or claims on property. If the borrower defaults on the mortgage, the lender can pawn the property.
Mortgage process:
A potential borrower begins the process by contacting one or more mortgage lenders. Lenders require proof that the borrower can repay the loan. This may include bank and investment statements, recent tax returns, and proof of current employment Lenders usually also conduct a credit check.
If the application is approved, the lender will provide the borrower with a loan of the specified amount and interest rate. A homebuyer can apply for a mortgage after deciding which property to buy or while the property is still being purchased. This is a process called pre-approval. Pre-approved mortgages can give buyers an edge in a tight housing market because the seller knows they have the funds to back their offer.
Once the buyer and seller have agreed the terms of the transaction, they or their representatives meet in a so-called transaction. This is when the borrower makes a down payment to the lender. The seller transfers title to the property to the buyer, receives the agreed amount, and the buyer signs the remaining mortgage documents. Lenders may charge a rental fee at closing (sometimes in the form of points).
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which of the following items would be classified as a product-related cost in an activity-based cost management (abcm) system? multiple choice change order to meet a new customer's specification movement of materials for products in production long-term lease payments for factory equipment insurance and property taxes on factory building
In an activity-based cost management (ABM) system, the movement of materials for products in production would be classified as product-level costing. Here option B is the correct answer.
In an activity-based cost management (ABM) system, product-level costs are costs that are directly associated with the production of a specific product. These costs can include direct materials, direct labor, and overhead costs that are specific to a particular product.
The movement of materials for products in production would be classified as a product-level cost in an ABM system because it is a cost that is directly associated with the production of a specific product.
The other items listed, such as change order to meet a new customer's specification, long-term lease payments for factory equipment, and insurance and property taxes on faculty building, are not considered product-level costs in an ABM system because they are not directly associated with the production of a specific product.
Complete question:
Which of the following items would be classified as a product-level cost in an activity-based cost management (ABM) system?
A - Change the order to meet a new customer's specification.
B - Movement of materials for products in production.
C - Long-term lease payments for factory equipment.
D - Insurance and property taxes on the faculty building.
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When Julie, the marketing executive for Hope Springs, determined that market segments existed with sufficient disposable income to pay a premium for bottled water, she determined this by examining _____ forces.- demographic
- social
- political/legal
- technological
- cultural
Julie, the marketing manager at Hope Springs, found that there were market segments with enough discretionary income to pay more for bottled water.
The monetary and fiscal policies, interest rates, employment rates, inflation rates, demographic shifts, political movements, energy, security, and natural disasters are a few examples of factors that have an impact on the economy. Each of these directly affects how businesses produce and provide their goods and services. What three factors influence the economy? Land, labour, and capital are the three fundamental "factors of production" that enable people to produce the goods they want. It is typical for economists to add a fourth or fifth component to account for entrepreneurial or human wealth. Julie, the marketing manager for Hope Springs, came to the conclusion that there were market segments with enough disposable income to pay a premium for bottled water by looking at economic circumstances.
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Which of the following are ways by which managerial accounting provides information and reports for managers to use in operating the business?
a. Managerial accounting provides the cost of manufacturing a product, which can be used to determine its selling price.
b. Managerial accounting allows for comparing the costs of manufacturing products over time and can be used to monitor and control the cost of direct materials, direct labor, and factory overhead.
c. Performance reports allow management to identify any large amounts of scrap materials or employee downtime.
d. All of these choices are correct.
Option d is correct. Managerial accounting is the method of identifying, measuring, analyzing, interpreting and communicating financial information to managers in pursuit of organizational goals.
Business accounting provides the manufacturing cost of a product that can be used to determine the selling price. Business accounting enables comparison of the cost of manufacturing products over time and can be used to monitor and control costs of direct materials, direct labor, and factory overhead.
Performance reports help managers identify high volumes of waste and employee downtime.
Internal accounting differs from financial accounting because the intended purpose of internal accounting is to help users within an organization make informed business decisions. Corporate accounting involves the presentation of financial information for internal purposes by management in making important business decisions.
The techniques used by accountants are not prescribed by accounting standards, unlike financial accounting.
The presentation of managerial accounting data can be modified to suit the specific needs of the end user.
Business accounting includes many aspects of accounting such as product costing, budgeting, forecasting and various financial analyses.
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Which of the following items would best enable Driver Co. to determine whether the fair value of its investment in Favre Corp. is properly stated in the balance sheet?
1 Discounted cash flow of Favre's operations
2 Quoted market prices available from a business broker for a similar asset
3 Quoted market prices on a stock exchange for an identical asset
4 Historical performance and return on Driver's investment in Favre
Historical performance and return on Driver's investment in Favre would best enable Driver Co. to determine whether the fair value of its investment in Favre Corp. is properly stated in the balance sheet.
Listing a stock on a publicly traded stock exchange is a typical method of figuring out a stock's fair value. Investor demand, which determines the right ask and bid rates, or market value, as shares trade, affects an investor's estimation of fair value. To decide whether to buy or sell, a trader can evaluate their fair value estimates with the market value. The amount an investor pays to achieve their targeted size and rate of return is frequently referred to as the fair value. When the stock's real value and potential for growth are taken into account, fair value—the price a buyer pays for a share—can be thought of as the stock's present value. The real value is determined by multiplying the amount of the dividend for the following year by the return rate less the growth rate.
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is how much the market can offer at different prices. responses demand demand market economy market economy supply supply command economy
Supply is the term used for how much the market can offer at different prices.
What advantages do markets offer?There is freedom of choice and free enterprise in a market economy. Resource acquisition and utilization for the production of goods and services is up to the owners of private businesses. They are entitled to market these goods and services wherever they choose.
A "free market economy," also known as a "market economy," is one in which goods are bought and sold with the least amount of outside government intervention. Prices are set by the free market. The market economy serves as the foundation of the capitalist system.
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Which of the following factors will cause the long-run Phillips curve (LRPC) to move to the right? (2 points)Decrease in aggregate demandDecrease in recessionary pressuresIncrease in frictional unemploymentIncrease in cyclical unemploymentIncrease in skill level of labor force
The decrease in aggregate demand will cause long-run Phillips curve to move to the right.
What is aggregate demand?The total quantity of demand for all finished products and services generated in an economy is referred to as aggregate demand. The total amount of money exchanged for various commodities and services at a particular price level and point in time is a fundamental way to represent aggregate demand. Aggregate demand, a macroeconomic concept, is comparable to the GDP (GDP). Aggregate demand, which refers to the want or need for such things, is different from GDP, which measures all of the products and services generated in an economy. Only after accounting for fluctuations in price levels can aggregate demand and GDP be equal over the long run. Short-run aggregate demand ignores inflation and counts all production at a single nominal price level.
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the following information was taken from the records of hawk enterprises: year 1 year 2 beginning inventory $75,000 $55,000 cost of goods purchased 500,000 540,000 cost of goods available for sale 575,000 595,000 ending inventory 55,000 85,000 cost of goods sold $520,000 $510,000 the following two errors were made in the physical inventory counts: 1. year 1 ending inventory was overstated by $28,000 2. year 2 ending inventory was understated by $17,000 year 1 year 2 cost of goods sold answer 465,000 answer 548,000
Ending inventory refers to the number of unsold goods a company has at the end of a specific accounting period. It represents the value of goods that a company still has in stock after all sales have been made during the period.
We need to adjust the ending inventory numbers to correct the ending inventory errors.
For Year 1:
Corrected ending inventory = $55,000 + $28,000 = $83,000
Cost of goods sold = $575,000 (cost of goods available for sale) - $83,000 (corrected ending inventory) = $492,000
For Year 2:
Corrected ending inventory = $85,000 - $17,000 = $68,000
Cost of goods sold = $595,000 (cost of goods available for sale) - $68,000 (corrected ending inventory) = $527,000
So, the corrected cost of goods sold for Year 1 is $492,000 and for Year 2 is $527,000.
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if total assets decreased by $49,032 during a period of time and stockholders' equity increased by $29,020 during the same period, then the amount and direction (increase or decrease) of the period's change in total liabilities is
The amount and direction (increase or decrease) of the period's change in total liabilities is Decrease of $20,012.
The change in total liabilitiesThe amount of the period's change in total liabilities is a decrease of $20,012. This can be calculated by subtracting the increase in stockholders' equity of $29,020 from the decrease in total assets of $49,032. The decrease in total liabilities indicates that liabilities decreased more than assets during the period.This decrease in total liabilities could have been caused by several factors, including a decrease in accounts payable, a decrease in long-term debt, or a decrease in other liabilities. It could also have been caused by an increase in cash or other assets, or an increase in stockholders' equity.A decrease in total liabilities over a period of time is generally considered a positive sign for a business, as it indicates that liabilities are being reduced, allowing the business to become more financially secure. The decrease in total liabilities could indicate that the business is actively taking steps to reduce its debt, or it could indicate that the business is generating income at a rate faster than its liabilities are increasing.Either way, a decrease in total liabilities over a period of time is a sign of financial strength and stability, and can help the business to attract more investors, customers, and partners.To learn more about The change in total liabilities refer to:
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Roughneck Rigs, a large oil drilling company off the Gulf Coast, wants to expand its drilling area. When practicing Roughneck Rigs will hear concerns from the local community, commission reports from expert oceanographers, and they will pay attention to how all of this will impact their bottom line. Multiple Choice crowdfunding the triple bottom line strategic alliances social audit
There are multiple possibilities over here: A. Roughneck Rigs will pay attention to how all of this will impact their bottom line.B. Roughneck Rigs will hear concerns from the local community.C. Roughneck Rigs will commission reports from expert oceanographers.
The term "triple bottom line" refers to the idea that a company should measure its success not just by financial performance (bottom line) but also by its environmental and social impact (first and second bottom lines). This is not mentioned in the prompt as something Roughneck Rigs will consider. "crowdfunding" is not relevant to the scenario described. "strategic alliances" refers to partnership or cooperation between companies or organizations, this is not mentioned as something Roughneck Rigs will consider. A "social audit" is a systematic examination of a company's social and ethical performance and it is not mentioned in the prompt as something Roughneck Rigs will consider.
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A company had the following assets and liabilities at the beginning and end of this year
Liabilities
$ 22,078
37,463
Beginning of the year
End of the year
Assets
$ 51,500
a. Owner made no investments in the business, and no withdrawals were made during the year.
b. Owner made no Investments in the business, but did withdraw $16,800 during the year,
c. Owner made no withdrawals during the year, but the owner did invest an additional $45,000 cash.
d. Owner withdrew $16,800 during the year, but the owner did invest an additional $35,000 cash near year-end.
Determine net income or net loss for the business during the year for each of the above separate cases: (Decreases in equity should
be indicated with a minus sign.)
Beginning of the year-Equity
Owner investments
Owner withdrawals
Net income (loss)
End of the year-Equity
b.
0$
0
S
G.
0 $
$
d.
0
0
Answer:
a. Owner made no investments in the business, and no withdrawals were made during the year.
Net income or net loss for the business during the year:
End of the year assets - Beginning of the year assets = $51,500 - $51,500 = $0
End of the year liabilities - Beginning of the year liabilities = $37,463 - $22,078 = $15,385
Net income or net loss = End of the year assets - End of the year liabilities = $0 - $15,385 = -$15,385 (Net loss)
b. Owner made no Investments in the business, but did withdraw $16,800 during the year,
Net income or net loss for the business during the year:
End of the year assets - Beginning of the year assets = $51,500 - $51,500 = $0
End of the year liabilities - Beginning of the year liabilities = $37,463 - $22,078 = $15,385
Owner withdrawals = -$16,800
Net income or net loss = End of the year assets - End of the year liabilities - Owner withdrawals = $0 - $15,385 - $16,800 = -$32,185 (Net loss)
c. Owner made no withdrawals during the year, but the owner did invest an additional $45,000 cash.
Net income or net loss for the business during the year:
End of the year assets - Beginning of the year assets = $51,500 - $51,500 = $0
End of the year liabilities - Beginning of the year liabilities = $37,463 - $22,078 = $15,385
Owner investments = $45,000
Net income or net loss = End of the year assets - End of the year liabilities + Owner investments = $0 - $15,385 + $45,000 = $29,615 (Net income)
d. Owner withdrew $16,800 during the year, but the owner did invest an additional $35,000 cash near year-end.
Net income or net loss for the business during the year:
End of the year assets - Beginning of the year assets = $51,500 - $51,500 = $0
End of the year liabilities - Beginning of the year liabilities = $37,463 - $22,078 = $15,385
Owner investments = $35,000
Owner withdrawals = -$16,800
Net income or net loss = End of the year assets - End of the year liabilities + Owner investments - Owner withdrawals = $0 - $15,385 + $35,000 - $16,800 = $12,215 (Net income)
Notice that real GDP trends upward over time but experiences ups and downs in the short run. These short-run fluctuations in real GDP are often referred to as ________________ . True or False: Small ups and downs in real GDP follow a consistent, predictable pattern. True False
There are variations in the gross domestic product. The brief periods are referred to as small business cycles.
It is False that there is a regular, predictable pattern to the tiny ups and downs in real GDP.
When this occurs, there is simply a brief dip and no significant influence that would result in a continuous fall or prolonged decline in the market's drop rate.
The business cycle is a model that demonstrates how a nation's GDP varies over time. The four stages of a business cycle are peak, trough, contraction, and growth. These variations frequently occur in a nation's commerce, production, and whole economic activity. The term "business cycle" refers to the alterations or swings that might occur in the GDP (Gross Domestic Product) economic model, which are represented in the growth or contraction of the economy.
When it comes to GDP, there is no consistent, observable pattern; although it may change often, ups and downs in no way contribute to the pattern. As a result, this claim is untrue since it is impossible to forecast variations.
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