Answer:
$530,400
Explanation:
The interest rate on the funds is 12%.
To find the answer, we use the future value of an investment formula:
FV = PV(1 +i)^n
Where FV = Future Value (the value we are looking for)
PV = Present value, in this case $240,000
i = the interest rate, in this case 12%
n = the number of compounding periods, in this case, 7 years.
Now, we plug the amounts into the formula:
FV = 240,000 (1 + 0.12)^7
FV = 240,000 (2.21)
FV = 530,400
So the value available for buying the new home after 7 years is $530,400
The approach to preparing financial statements based on recognizing revenues when they are earned and matching expenses to those revenues is:
Answer:
Accrual basis accounting.
Explanation:
Financial statements can be defined as a document used for the formal communication or disclosure of financial information and statements to present and potential users such as investors and creditors. These includes balance sheet, statement of retained earnings and income statement.
The approach to preparing financial statements based on recognizing revenues when they are earned and matching expenses to those revenues is accrual basis accounting.
The specification for the pull strength of a wire that connects an integrated circuit to its frame is 10 g or more. Units made with aluminum wire have a defect rate of 10%. A redesigned manufacturing process involving the use of gold wire is being investigated. The goal is to reduce the rate of defects to 5% or less. Out of the first 100 units manufactured with gold wire, only 4 are defective. True or false:
Answer:
Since 4 is less 5, it is therefore True that only 4 are defective.
Explanation:
Since the goal of using the gold wire is to reduce the rate of defects to 5% or less, the highest number of defective units from the first 100 units manufactured with gold wire can be calculated as follows:
Highest number of defective units using gold wire = Number of units manufactured with gold wire * Highest defective rate ..................... (1)
Where;
Number of units manufactured with gold wire = 100
Highest defective rate using gold wire = 5%
Substituting the values into equation (1), we have:
Highest number of defective units using gold wire = 100 * 5% = 5
Based on the calculation above, it implies that the number of defective units from the first 100 units manufactured with gold wire is less or equal to 5.
Since 4 is less 5, it is therefore True that only 4 are defective.
Determine the promotional price of each item at each store. Item Original Price Discount (Dollars) $10.00 Off 35% Off (Dollars) (Dollars) A music box $60 $ $ A faux Ming vase $30.00 $ $ Suppose a friend of yours wants to buy a crystal candlestick. You remember seeing this item at both Annie's Attic and Betty's Breakables, but you do not remember the price.
Answer:
1.
Discount
Item Original Price $10.00 off 40% off
Music box $60 60 - 10 = $50 60 * (1 - 40%) = $36
A faux Ming vase $30 30 - 10 = $20 30 * (1 - 40%) = $18
2. Go to Betty's Breakables if price is higher than $25.
At $25, both businesses would be offering the same discounted price of $15 because:
Annie = 25 - 10 = $15
Betty's = 25 * ( 1 - 40%) = $15
Betty's discount is proportion based however which means that it reduces more than Annie's will past a certain point. That certain point is if the original price is $25. From here on out, Betty will offer a better discounted price than Annie.
For instance, assume an original price of $50.
Annie = 50 - 10 = $40
Betty's = 50 * (1 - 40%) = $30
Betty will keep offering better prices in this manner for anything above $25.
A new assembly line robot with a price tag of $2.5 million is expected to depreciate by 3% at the end of next year. The real interest rate is 2.5%. The user cost of of the robot for one year is $137,500. What is the user cost of the robot for one year?
Answer:
$137,500
Explanation:
Calculation for the user cost of the robot for one year
User cost=(3%*$2,500,000)+(2.5%*$2,500,000)
User cost=$75,000+$62,500
User cost=$137,500
Therefore The user cost of of the robot for one year is $137,500
HELP!!!!! 20 POINTS AND I WILL MARK BRAINIEST IF CORRECT
Which branch of government makes laws?
the Executive branch
the Legislative branch
the Judiciary
none of these
Answer:
Legislative
Explanation
Answer:legislative
Explanation:
Connie is analyzing the financial statements of MegaMart and Bullseye Company. She wants to invest in one of the companies and is trying to decide which company has the better past performance. Connie is examining:_________
A. managerial accounting information.
B. regulatory accounting information.
C. organizational accounting information.
D. financial accounting information.
Answer:
D. financial accounting information.
Explanation:
Financial reporting can be defined as the formal communication or disclosure of financial information and statements to present and potential users such as investors and creditors.
Financial accounting is an accounting technique used for analyzing, summarizing and reporting of financial transactions like sales costs, purchase costs, payables and receivables of an organization using standard financial guidelines such as Generally Accepted Accounting Principles (GAAP). These accounting informations are prepared and made available for investors and other external agencies. Examples of financial statements includes Balance sheet, cash-flow and income statement.
In this scenario, Connie is analyzing the financial statements of MegaMart and Bullseye Company. She wants to invest in one of the companies and is trying to decide which company has the better past performance.
Hence, Connie is examining the financial accounting information.
Marigold Corp. purchased a machine for $66100 on July 1, 2020. The company intends to depreciate it over 8 years using the double-declining balance method. Salvage value is $4800. Depreciation for 2020 to the closest dollar is
Answer:
$8,263
Explanation:
Annual depreciation is calculated as ;
Depreciation Expense = 2 x SLDP x BVSLDP
where,
SLDP = 100 / 8 = 12.50%
therefore,
Depreciation Expense = 2 x 12.50% x $66100 = $16,525
but,
the machine was only used for 6 months through the year in 2020 (bought 1 July).
therefore
Depreciation for 2020 = 6/12 x $16,525 = $8,263
Conclusion :
Depreciation for 2020 to the closest dollar is $8,263
g Mr. Brown wants to buy a Tesla Model S car, whose price is $100, 848. The dealer offers a loan plan: $30, 000 downpayment, $X at the end of year 1, year 2, year 3, and year 4. Assume the constant annual interest rate is 25%. (a) What is X
Answer:
$30,000
Explanation:
the present value of the loan = $100,848 - $30,000 = $70,848
we can use the present value annuity formula:
PV = annual payment x PV annuity factor
annual payment = PV / PV annuity factor
PV = $70,848
PV annuity factor, 25%, 4 periods = 2.3616
annual payment = $70,848 / 2.3616 = $30,000
why do you think that mary parker folletts ideas tendto be popula with businesss people of her day but were ignored by management scholars
Answer:
The popularity of Mary Parker Follett's ideas with the business people of her day stemmed from the fact that the ideas had humanistic and social justice-focus, and the business people of those days understood the great benefits of having some humanistic perspectives in management.
But these same ideas were ignored by most management scholars because management scholars were drawn to scientific management instead of the humanistic brand of management.
Explanation:
Mary Parker Follett believed that the focus of management should be on managing well the interaction between it and the employees to enhance productivity. She strongly advocated for conflict resolutions that favored the employee. She believed that scientific management demotivated the employee.
demand deposits of $10,000, the reserve requirement is .05, the Federal Funds rate is 6% and the Discount rate is 4% . How much money can it loan out
Answer:
The amount of money the bank can loan out is $200,000.
Explanation:
a) Data and Calculations
Demand deposits = $10,000
Reserve requirement = 0.05
Federal Funds rate = 6%
Discount rate = 4%
The money the bank can loan out = Demand Deposit/Reserve Requirement
= $10,000/0.05
= $200,000
b) The amount that the commercial bank can loan out is determined by the amount of its deposits and the ratio of the reserve requirement. The reserve requirement ratio gives the percentage of deposits that commercial banks must hold as reserves in their vaults. This implies that if the required reserve ratio is 5 percent, for instance, the bank must hold 5 percent of its deposits as required reserves. If demand deposits are $10,000, then $500 ($10,000 x .05) must be held as required reserves and then the bank can lend out $9,500 to the first customer. However, this amount will expand because the customer keeps the amount within the bank, enabling the bank to lend out $200,000 from a deposit of $10,000. The total amount the bank can lend out is calculated as $10,000/0.05.
During the fiscal year ended 2016, a company had revenues of $520,000, cost of goods sold of $375,000, and an income tax rate of 36 percent on income before income taxes. What was the company's 2016 net income
Answer:
the net income is $92,800
Explanation:
The computation of the net income is given below:
Net income is
= Sales - cost of goods sold - tax rate on the remaining balance left
= $520,000 - $375,000 - (($520,000 - $375,000) ×0.36)
= $145,000 - $145,000 × 0.36
= $145,000 - $52,200
= $92,800
Hence, the net income is $92,800
g Arshadi Corp.'s sales last year were $27,000, and its total assets were $22,000. What was its total assets turnover ratio (TATO)
Answer:
0.81
Explanation:
Total assets ratio is computed as
= Total assets / Total sales
Given that;
Total assets = $22,000
Total sales = $27,000
Total assets ratio
= $22,000 / $27,000
= 0.81
You are now tasked with developing a research plan that would best support the research objectives you have just chosen. You consider your options and narrow them down to the following three.
Select an option from the choices below and click Submit
a. Research the attitudes that men under 35 have towards eSports
b. Research the effect that increased advertising in women's magazines would have on women's attitudes towards eSports.
c. Research the attitudes that U.S. women and consumers over 35 have towards the eSports Industry
Answer:
a. Research the attitudes that men under 35 have towards eSports.
Explanation:
The research process involves detailed analysis and data collection from the people. Esport is gaining significance in the world but men may have different perspective towards the eSports. The eSport is virtual and there is no physical activity involved in the sports. Men may reject the eSport idea as the sport activity is to maintain their physical strength.
On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $84,000 in assets in exchange for its common stock to launch the business. On October 31, the company’s records show the following items and amounts.
Cash $11,360 Cash dividends $2,000
Accounts receivable 14,000 Consulting revenue 14,000
Office supplies 3,250 Rent expense 3,550
Land 46,000 Salaries expense 7,000
Office equipment 18,000 Telephone expense 760
Accounts payable 8,500 Miscellaneous expenses 580
Common Stock 84,000
Required:
Using the above information prepare an October 31 balance sheet for Ernst Consulting.
Answer:
Balance sheet
Assets
Cash $11,360
Accounts receivable $14,000
Office supplies $3,250
Office equipment $18,000
Land $46,000
Total assets $92,610
Liabilities
Accounts payable $8,500
Total liabilities $8,500
Equity
Common Stock $84,000
Retained earnings $110
Total equity $84,110
Total liabilities + equity $92,610
Income statement
Consulting revenue $14,000
Expenses:
Salaries $7,000Rent $3,550Telephone $760Misc. $580 ($11,890)Net income $2,110
retained earnings = net income - dividends = $2,110 - $2,000 = $110
Omaha LLC had the following inventory amounts: 9/30/2020 12/31/2020 Raw materials 3376 3576 WIP 4568 4372 Finished goods 3535 pDuring Q4 2020, the company purchased $7234 of raw materials. In addition, the firm incurred the following costs during the quarter: direct labor of $3650, variable manufacturing overhead of $2532, fixed manufacturing overhead of $3001, variable non-manufacturing overhead of $4077, and fixed non-manufacturing overhead of $5402. Cost of goods sold in Q4 was 15317. Omaha uses full absorption costing. How much raw materials did Omaha transfer to WIP in Q4 2020?
Answer: b
Explanation:
The dollar-euro exchange rate is $1.25 = €1.00 and the dollar-yen exchange rate is ¥100 = $1.00. What is the euro-yen cross rate? Group of answer choices ¥1.00 = €0.80 ¥125 = €1.00 None of the above ¥1.00 = €125
Answer:
¥1.00 = €0.80
Explanation:
The following information on selected cash transactions for 2021 has been provided by Waterway Industries: Proceeds from sale of land $313000 Proceeds from long-term borrowings 610000 Purchases of plant assets 217000 Purchases of inventories 1017000 Proceeds from sale of Waterway common stock 352000 What is the cash provided (used) by investing activities for the year ended December 31, 2021, as a result of the above information
Answer:
Waterway Industries
The cash provided (used) by investing activities for the year ended December 31, 2021, as a result of the above information is:
= $96,000
Explanation:
a) Data and Calculations:
Proceeds from sale of land $313000
Proceeds from long-term borrowings 610000
Purchases of plant assets 217000
Purchases of inventories 1017000
Proceeds from sale of Waterway common stock 352000
Operating activities:
Purchases of inventories 1017000
Investing activities:
Proceeds from sale of land $313000
Purchases of plant assets 217000
Total cash from investing $96,000
Financing activities:
Proceeds from long-term borrowings 610000
Proceeds from sale of Waterway common stock 352000
b) Investing activities are one of the main categories of net cash activities on the statement of cash flows. They refer to the purchase and sale of long-term assets and other business investments.
Bloom and Plant organize a partnership on January 1. Bloom's initial investment consists of $800 cash, $1,700 equipment and a $500 note payable reflecting a bank loan for the new business. Plant's initial investment is cash of $2,000. These amounts are the values agreed on by both partners. The journal entry to record Bloom's investment is:
Answer and Explanation:
The journal entry to record the investment of Bloom is as follows:
Cash Dr $2,000
To Capital $2,000
(Being the investment is recorded)
Here the cash is debited as it increased the asset and capital is credited as it also increased the equity
During the year that ended December 31, Clarissa sold goods that cost $67,800, her expenses totaled $8,125 and her freight-in totaled $4,800. Her company's average stock of goods during the same period was $13,432. Clarissa's company's inventory turnover ratio is __________.
Answer:
5.05
Explanation:
Inventory turnover is computed as
= Cost of goods sold / Average inventory
Given that;
Cost of goods sold = $67,800
Average inventory = $13,432
Then,
Inventory turnover ratio is
= $67,800 / $13,432
= 5.05
HELP HELP HELP 10POINTS HURRY ASP AHHH
Answer:
point of sale display
sampling
event marketing
in store promotion
what is consumer surplus
Explanation:
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In mainstream economics, economic surplus, also known as total welfare or Marshallian surplus, refers to two related quantities: Consumer surplus, or consumers' surplus, is the monetary gain obtained .
Answer:
Consumer surplus is defined as the difference between the consumers' willingness to pay for commodity and the actual price paid by them , or the equilibrium price .
If the natural rate of unemployment was 6 percent, the current unemployment rate was 8 percent, and potential GDP was $4,000 billion, then according to Okun's law the economy would have sacrificed Multiple Choice $160 billion in output not produced. $360 billion in output not produced. $240 billion in output not produced. $480 billion in output not produced.
Answer:
a. $160 billion in output not produced.
Explanation:
Okun law equation
GDP gap = Actual GDP * ((Unemployment rate -Natural rate)/100)*2
GDP gap = $4,000*((8-6)/100)*2
GDP gap = $4,000*(0.02)*2
GDP gap = $4,000*0.04
GDP gap = $160
Therefore, according to Okun's law, the economy would have sacrificed $160 billion in output not produced.
During a severe recession Congress passes legislation to cut taxes, this would be an example of a(n): g
Answer:
expansionary fiscal policy.
Explanation:
Fiscal policy in economics refers to the use of government expenditures (spending) and revenues (taxation) in order to influence macroeconomic conditions such as Aggregate Demand (AD), inflation, and employment within a country. Fiscal policy is in relation to the Keynesian macroeconomic theory by John Maynard Keynes.
A fiscal policy affects combined demand through changes in government policies, spending and taxation which eventually impacts employment and standard of living plus consumer spending and investment.
Basically, an expansionary fiscal policy will cause the total increase in aggregate demand to be greater than the initial increase in aggregate demand due to the multiplier process.
Hence, if during a severe recession, Congress passes legislation to cut taxes, this would be an example of an expansionary fiscal policy.
According to the Keynesian theory, government spending or expenditures should be increased and taxes should be lowered when faced with a recession, in order to create employment and boost the buying power of consumers.
On January 1, 2021, an investor paid $294,000 for bonds with a face amount of $314,000. The contract rate of interest is 11% while the current market rate of interest is 14%. Using the effective interest method, how much interest income is recognized by the investor in 2022 (assume annual interest payments and amortization)
Answer:
$41,160
Explanation:
Calculation for how much interest income is recognized by the investor in 2022
Using this formula
Interest income = Amount paid* Market rate of interest
Let plug in the formula
Interest income = $294,000*14%
Interest income= $41,160
Therefore how much interest income is recognized by the investor in 2022 will be $41,160
The Optical Scam Company has forecast a sales growth of 20 percent for next year. The current financial statements are shown here: Income Statement Sales $ 30,500,000 Costs 26,453,000 Taxable income $ 4,047,000 Taxes 1,416,450 Net income $ 2,630,550 Dividends $ 1,052,220 Addition to retained earnings 1,578,330 Balance Sheet Assets Liabilities and Owners' Equity Current assets $ 7,210,000 Accounts payable $ 6,405,000 Long-term debt 2,440,000 Fixed assets 17,495,000 Common stock $ 5,570,000 Accumulated retained earnings 10,290,000 Total equity $ 15,860,000 Total assets $ 24,705,000 Total liabilities and equity $ 24,705,000 a. Using the equation from the chapter, calculate the external financing needed for next year. (Do not round intermediate calculations and round your answer to the nearest whole dollar amount, e.g., 32.)
Answer:
The external financing needed for next year is $1,766,004.
Explanation:
The external financing needed for next year can be calculated using the following formula:
External financing needed = ((Total assets / Sales) * Change in sales) - ((Short-term liabilities / Sales) * Change in sales) - ((Projected sales * Profit margin) * (1 - Dividend payout ratio)) ................... (1)
Where;
Total assets = $24,705,000
Sales = $30,500,000
Change in sales = Sales * Sales growth rate = $30,500,000 * 20% = $6,100,000
Short-term liabilities = Accounts payable = $6,405,000
Projected sales = Sales * (1 + Sales growth rate) = $30,500,000 * (1 + 20%) = $36,600,000
Profit margin = Net income / Sales = $2,630,550 / $30,500,000 = 0.0862475409836066
Dividend payout ratio = Dividends / Net income = $1,052,220 / $2,630,550 = 0.40
Substituting all the values into equation (1), we have:
External financing needed = (($24,705,000 / $30,500,000) * $6,100,000) - (($6,405,000 / $30,500,000) * $6,100,000) - (($36,600,000 * 0.0862475409836066) * (1 - 0.4))
External financing needed = $1,766,004
Therefore, the external financing needed for next year is $1,766,004.
The following table contains statements that provide some analysis of policies that address the minimum wage. Categorize each of these statements as either positive or normative.
Statement Positive Normative
All Americans should earn more than $25,000 per year.
Raising the minimum wage increases the rate of unemployment.
The minimum wage should be raised to $15 per hour.
Raising the minimum wage reduces the number of employment
opportunities for low skilled workers.
Answer and Explanation:
The classification is as follows:
a. It is a normative statement as it discussed that there is an efficient wages for all types of workers for earnings
b. It is a positive statement that depend upon the facts and proofs as the leisure for workers would create more unemployment as compared to before
c. It is a normative statement
d. It is a positive statement as the workers who are less skilled they can be settled for the minimum wages as they dont get the highest paying jobs because these jobs would be belong to those workers who are highly skilled
If Congress votes to increase spending, how would output, the interest rates and the international value of the dollar (based on change in interest rates) change as a result
Answer:
Increase, Increase, Increase
Explanation:
If Congress votes to increase spending, and the government increase the spending, the output will increase, interest rate will increase and the international value of the dollar will increase as well.
This is because aggregate demand will increase which will shift the aggregate demand curve to the right and will GDP will be higher. This also increases the world GDP because the US economy is a major part of the world economy. As the government spending is increased, government will face or decline in public savings and therefore National saving. To finance its budget deficit it will increase the rate of interest. Since the United States influences the world interest rate, as a result the world interest rate would increase. Capital will start flowing in the United States increasing the demand for US dollar. This will increase the price of US dollar.
Most people who start small businesses are aware of the high failure rate and the reasons for it. Why, then, do some take no steps to protect their firms from failure
Answer:
When someone starts their own business, they do it because they firmly believe that they will succeed. Most of the time they are not thinking about what will happen if things do not work as planned. I believe that people that are afraid and believe that the possibility of failure is large, will never start their own business. Entrepreneurship is something that not everyone can do, and it takes a lot of guts to do it.
Technological knowledge Group of answer choices is the same thing as human capital. does not play a role in the relationship that economists call the production function. is a determinant of productivity. can be discovered but it can never be kept secret.
Answer:
is a determinant of productivity.
Explanation:
Technology is used to make production processes more efficient by giving better uses to labour and capital in a company.
For example a communication software will reduce the need for employees to walk over to another person to get information or share files.
Processes that are not needed in production are either eliminated or made more efficient by use of technology.
As such technology is an important determinant of how productive a business is
Explain the concept that human wants are insatiable.
Answer:
The explanation and as per the type of situation is characterized in the explanation category below.
Explanation:
Human wants to be boundless or unrestricted because he considers creative ways to create human existence pleasurably as well as convenient. However, it's a procedure that has never ended. Even though it has available resources throughout comparison to available resources, as something of a direct consequence of which all needs together should be insatiable.The person has always been trying to accommodate many more of his needs and desires as necessary.
