When retailers collect sales taxes from customers, the taxes collected are recorded as Sales or Sales taxes payable.
What are Sales taxes payable?A sales tax is a fee that is paid to the government when specified goods and services are sold. Typically, laws permit the vendor to charge the customer the tax at the time of purchase.
Use taxes are typically used to describe taxes on goods and services that consumers pay directly to a governing authority.
The sale and use tax are frequently exempted for some goods and services, including food, education, and medical. A sales tax is similar to a value-added tax (VAT) that is levied on products and services.
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When your father was born 45 years ago, his grandparents deposited $125 in an account for him. today, that account is worth $1,500. what was the annual rate of return on this account?
The annual Rate of Return = 5.68%
$1,500 = $125(1 + r)45 r
($1,500/$125)1/45 − 1 = r
r = .0568, or 5.68%
N= 45 I/Y= 5.68% PV= $125 FV= -$1,500
What was the rate of return?The net gain or loss of an investment over a given time period is referred to as the rate of return (RoR), which is represented as a percentage of the investment's starting cost.
When calculating the rate of return, you are figuring out the percentage difference between the start and end of the period.
Any investment vehicle, including bonds, equities, fine art, and real estate, can be subject to a rate of return (RoR). The RoR is applicable to any asset as long as it is purchased at some point in the future and generates cash flow later on. Investments are evaluated in part based on historical rates of return, which can be compared to assets of a similar type to identify which investments are the most alluring.
Therefore, before choosing an investment, many investors like to select a required rate of return.
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True or false .Accourding to the quantity theory of money all countries with the same average annual rates of inlfation must also have the same average annual rates of money growth.
Accourding to the quantity theory of money all countries with the same average annual rates of inflation must also have the same average annual rates of money growth.
The statement is true.
The quantity theory of cash states that cash deliver and price degree in an financial system are in direct percentage to each other. when there is a alternate within the deliver of money, there may be a proportional change within the price stage and vice-versa.
The amount concept of money states that the deliver of money times the speed of cash equals nominal GDP.
In an economic system where GDP does not upward thrust or fall, the amount principle of money implies that the price stage is proportional to the cash deliver. Extra money simply increases fees. The valuable bank can pick out some thing charge of inflation it wants just via raising the money supply through that percentage every 12 months.
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A gas company charges $1.30 for 15.0 ft3 of natural gas. what is the cost in $ per l?
a ) 15( ft)³ = 15 ( 12 inch )³ = 15 x 12 x 12 x 12 (inch)³ = 25920 (inch)³
=25920( 2.54 cm)³ = 25920 x 2.54 x 2.54 x 2.54 cm³ =424752.7 cc
424752.7/1000 litre = 424.75 liter
424.75 liters cost 1.30 dollars
1 liter costs 1.3/424.75 = 3.06 x 10⁻³ dollars.
So rate
= 3.06 x 10⁻³ dollars/liter
b ) one liter of water takes 0.304 ft³ of gas
2.1 liter will take 0.304 x 2.1 = 0.6384 ft³ of gas
cost = 1.3 x .6384 / 15 = 0.055328 dollar = 55.33 x 10⁻³ dollar.
What is in a natural gas?
Natural gas is an odorless, gaseous mixture of hydrocarbons—predominantly made up of methane (CH4). It accounts for about 30% of the energy used in the United States.
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Complete Question is,
a) Convert this rate to dollars per liter of gas.
b) If it takes 0.304 ft^3 of gas to boil a liter of water, starting at room temperature (25°
C), how much would it cost to boil a 2.1L kettle of water?
If 5.00 lbs of potatoes costs $3.60, how much would 1.30 kilograms of potatoes cost?
$2.06 is the cost of 1.30 kilograms of potatoes if 5.00 lbs of potatoes cost $3.60.
What is the Cost Price?Cost is often an expense a business incurs when producing a good or service it sells. The price of the raw materials used in manufacturing a product may be included. The cost of manufacturing a product has a direct bearing on its cost and the revenue generated by each sale.
The cost of a product or service is determined by the customer's willingness to pay. Profit is the sum of the price paid less the costs incurred. A product that costs $6 to produce and $10 to sell results in a $4 profit for the business.
5.00 lbs = $3.60
2.26kgs = $3.60
1.00kg = $1.59
1.30kgs = $1.59 × 1.30
= $2.06
On their financial statements, some businesses would include the complete cost of producing a good under the heading of cost of goods sold (COGS). The sum of all production-related direct expenses is known as COGS. Direct materials, such as raw materials, and direct labor for the production plant may be included in these prices.
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E. assume the original facts but now suppose the jacksons also incurred a loss of $5,000 on the sale of some of their investment assets. what effect does the $5,000 loss have on their taxable income?
Individual taxpayers' deductible losses on the disposition of investment (capital) assets is restricted to $3,000. The Jacksons would be allowed to deduct $3,000 of the $5,000 loss against their taxable income. The remaining $2,000 loss would carry over to next year.
Consequently, with the loss, their taxable income would be $56,200 ($59,200 from part a minus $3,000).
Tax is defined as a mandatory levy from the people for the state. Every tax money paid by the people will be included in the post of state revenue from the tax sector. The use of taxes is to finance central and local government expenditures for the welfare of the community.
Taxes are very beneficial for the state. Overall, taxes are widely used for:
Financing state expenditures, such as: expenses that can be disbursed on their own, for example: expenditures for productive projects for goods to be exported. Financing reproductive expenditures, such as: expenditures that provide economic benefits for the whole community, for example, spending on irrigation and agriculture. Financing expenses that aren't self-liquidating and non-reproductive, for example: expenses for the development of monuments and recreational objects.Financing unproductive expenses, for example: expenditures to finance state defense or war and spending for future savings, one of which is spending on orphans.You can learn more about tax here brainly.com/question/16423331
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Teague & Mark, LLP's bank statement for March 31, showed a cash balance of $2,730.
The company's Cash account in its general ledger showed a $863 debit balance. The following information was also available as of March 31st.
a. A check for $100 was returned as NSF by the bank. The bank charged a returned check $25 processing fee.
b. The March 31st cash receipts of $3,428 were placed in the night drop box after the bank closed.
c. A $15 debit memo for checks printed by the bank was included with the canceled checks.
d. Outstanding checks amounted to $2,565.
e. A customer's note for $1,500 was collected by the bank and a collection fee of $25 was deducted.
f. A check for $325 which was drawn on another company was included with the canceled checks.
1. Prepare a bank reconciliation as of March 31st.
2. Prepare adjusting entries.
The policy of minimum government interference in or regulation of economic activity, advocated by adam smith and the classical economists, was known as?
'The policy of minimum government interference in or regulation of economic activity, advocated by adam smith and the classical economists, was known as Laissez-faire.
Government is the system of state or community government. The Colombian Encyclopedia defines government as "a system of social control in which the right to make laws and the right to enforce laws belong to specific groups in society."
A democratic government is formed when a majority of the population supports a particular political party as ruling party or power. Within democracy, there are different forms of democracy such as republic, constitutional monarchy, presidential system, and parliamentary system.
Government is defined as the exercise of control or power over a group of people. An example of a government is the UK Parliament. (uncountable) Management or control of a system. A system of governance, control, etc.
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In a recession keynesians emphasize the need to ________ governmentspending or ________ taxes, which will cause a multiplier reaction.
In a recession Keynesian's emphasize the need to increase governments pending or decrease taxes, which will cause a multiplier reaction.
Keynesian economics' central tenet is that the best way to get an economy out of a slump is for the government to boost demand by injecting capital into the economy. In essence, expenditure and consumption are the two main drivers of economic growth.
Insufficient aggregate demand is the main factor contributing to economic downturns, according to Keynes. Businesses across the economy see a reduction in sales when the demand for goods and services as a whole declines. Businesses reduce production and lay off employees as a result of lower sales.Government may help an economy recover from a downturn by increasing demand and starting a cycle of higher output and more jobs.The two major tenets of Keynesian economics are as follows. First off, a short-run economic event like a recession is more likely to have aggregate demand as its main cause than aggregate supply. Second, in a downturn in the economy, unemployment may occur as a result of sticky wages and prices.To learn more about recession Keynesian's emphasize visit:https://brainly.com/question/14799931
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A market-research firm calls you on the phone and asks you a series of questions about your attitudes toward exercise. the market-research firm is conducting a(n):_________
A market-research firm calls you on the phone and asks you a series of questions about your attitudes toward exercise. the market-research firm is conducting a market research.
What Is Market Research?Market research, also known as "marketing research," is the process of determining the viability of a new service or product through research conducted directly with potential customers. Market research allows a company to discover the target market and get opinions and other feedback from consumers about their interest in the product or service.This type of research can be conducted in-house, by the company itself, or by a third-party company that specializes in market research. It can be done through surveys, product testing, and focus groups. Test subjects are usually compensated with product samples or paid a small stipend for their time. Market research is a critical component in the research and development (R&D) of a new product or service.To learn more about market research, refer: https://brainly.com/question/18723483?referrer=searchResults
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Equilibrium in the aggregate demand and supply model consists of a priceand a quantity of?
A price level and a certain amount of real GDP constitute equilibrium in the aggregate demand and supply model.
Real gross domestic product, also known as constant-price GDP, inflation-corrected GDP, or constant dollar GDP, is an inflation-adjusted metric that measures the value of all goods and services generated by an economy in a given year (expressed in base-year prices)..
A macroeconomic metric known as real GDP accounts for inflation to determine the true value of the products and services generated by an economy over a certain time period. It essentially quantifies the overall economic production of a nation after accounting for price variations.
Governments track nominal and real GDP to measure economic expansion and purchasing power over time. This is accomplished through the use of the GDP price deflator, also known as the implicit price deflator, which tracks changes in the cost of all products and services produced inside an economy.
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Discussion Question:
What are the Fed's three objectives in conducting monetary policy? (one short paragraph/details)
Maximum employment, stable prices, and moderate long-term interest rates are the Fed's three monetary policy goals.
What is monetary policy?Monetary policy, which also has the goal of fostering economic growth, controls the total amount of money in a country. Examples of monetary policy tactics include modifications to bank reserve requirements and interest rate changes. Monetary policy is frequently divided into two categories: expansionary and restrictive.
To enhance employment, GDP, and price stability, for instance, policymakers control the flow of money using tools like interest rates, reserves, bonds, etc.
The Federal Reserve (the Fed), the country's central bank, has been given authority over monetary policy by Congress; however, Congress is also responsible for overseeing the Fed's compliance with its legal obligations of promoting maximum employment, maintaining price stability, and maintaining moderate long-term interest rates.
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The cash payment of interest is classified as a financing activity on the statement of cash flows.
true or fasle
The statement is False. Interest paid is typically considered income from operating activities.
If you take a look at what interest-bearing loans are for, it's going to be more appropriate to classify them as a financing activity. this is applicable if the loan isn't used as an integral a part of the company's cash management function. Since most companies use the indirect method of preparing the statement of money flows (or statement of money flows), the expense of the business are going to be limited to the online profit of the business, which is that the first amount reported in cash flows from operating activities. paid amount of money paid by the corporate to the creditor. it's going to be higher or less than the disbursal on the record. Only interest paid affects income, not disbursement. Cash paid in interest are present under "cash ensue operating activities".
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Even if you do credit the source, paraphrasing with changing only a few words in the original text is still considered as plagiarism because:_________
Even if you do credit the source, paraphrasing with changing only a few words in the original text is still considered as plagiarism because you have failed to indicate, by the means of direct quotation marks, which are the exact words of the original .
What is Plagiarism ?
Plagiarism is the practice of presenting another person's thoughts or work as your own, with or without that person's consent, by incorporating it into your own work without giving it proper credit. All works, both published and unpublished, whether they are in manuscript, print, or electronic form, are covered by this definition. Plagiarism can be deliberate, negligent, or unintentional. Exam regulations forbid intentional or negligent plagiarism, which is grounds for disciplinary action.
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Olivia deposits $6,952 in a savings account paying 3.72% interest. to the nearest dollar, how much money does olivia have in total after sixteen years? a. $4,138 b. $8,568 c. $11,090 d. $29,901 please select the best answer from the choices provided a b c d
After sixteen years Olivia will have (C) $11,090.
Bank interest is a fee paid when paying for services for borrowing money provided by the bank within a certain period of time. Interest is determined by a percentage of the total deposit or loan amount.
Bank interest is divided into credit interest rates and savings interest rates. The loan interest rate is a certain price that the customer must pay to the bank in return for the loan obtained. While the savings interest rate is a certain amount paid by the bank to customers in return for their savings.
Bank interest has its own functions and benefits. For banks, interest is a source of income for banks. For example, when a bank offers assistance in the form of credit that can be borrowed with terms and conditions that apply to customers. The borrowed loan will be returned to the bank in monthly installments plus the interest rate agreed by both parties during the loan agreement. So, interest from credit installments can be a net input for banks.
The calculation is:
A = [tex]{P(1+R)}^T[/tex]
A = 6952 x (1 + 3.72%)^16
A = $11 089.83
A = $11 090
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A $300,000 building was purchased on december 1. It is estimated that it will have a life of 20 years and zero salvage value. Calculate depreciation expense for the month of december using straight-line depreciation.
Answer:1250
Explanation:
divide the amount of months by the total
An investment center has income of $13,500,000 and average assets of $60,000,000. return on investment is:_________
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Marketers must increasingly consider the special needs of traditional households because this segment of the population is growing more rapidly than nontraditional households.
It is incorrect to assume that because traditional households have more unique needs than nontraditional households, marketers must increasingly take these needs into account.
Since digital marketing is how we all now learn and develop, marketers must also learn nontraditional methods. Digital marketing is the process of reaching people with products and services through digital platforms. This type of marketing makes use of websites, mobile devices, social media, search engines, and other channels that serve a similar purpose. Digital marketing became more well-known in the 1990s with the advent of the internet.
Digital marketing is generally regarded as a cutting-edge technique for companies to communicate with clients and understand client behavior. There are several standard marketing ideas that it also adheres to.
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Costs that are capitalized as inventory when they are incurred are called:____.
a. administrative costs.
b. period costs.
c. fixed costs.
d. product costs.
e. general costs.
Costs that are capitalized as inventory when they are incurred are called product costs.
What do you mean by product costs?
Product cost is a term that refers to the total costs used in making a product and getting it ready for sale. In manufacturing, product costs are the expenses that include the cost of raw materials, labor and manufacturing head. In retail, product costs may involve expenses related to a supplier, plus any costs involved in stocking products.Product costs must be stated in the financial statements.To learn more about product costs, refer to:
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What are the major advantages and disadvantages of each of the four types of auditing careers?
Advantages include Ensures compliance, Auditing helps with business or system improvements, Provides credibility and Prevent fraud and disadvantages include Auditing is Costly, Auditing requires experts, Impossible to check all transactions and Unsuitable for small business.
A physical inventory check is followed by an auditor's examination or inspection of various books of accounts to ensure that all departments are using the same documented system of recording transactions. It's done to make sure the organization's financial statements are accurate.
The process of evaluating or analysing something to determine its accuracy or safety is referred to as an audit, and the document that declares the outcome of such an analysis or evaluation is known as an audit report. A dean reviewing your credits to determine your eligibility for graduation is an example of an audit.
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Explain how cost, quality, time and agility form a basis for competitive advantage in manufacturing.
Cost creates competitive advantage as reduction in cost in manufacturing brings economy of scale and higher profit margin of a product to the organization. It brings the ability for the manufacturer to reduce the price and compete well in the market. So, it brings the competitive advantage.
First-class of the product creates excessive value proposition and tremendous emblem positioning many of the target audience. Besides, the conformance to quality is the differentiation aspect and builds sturdy advice. It acts as a competitive advantage.
Time is a crucial aspect as manufacturing and shipping of products on time offer serviceability to the clients on time and reduces the scope of stock-out. It way that clients continually get the product on time and it acts as an aggressive advantage.
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A task runs on a system with a clock operating at 1ghz and takes 8 seconds to complete. how many clock cycles are needed to complete the task?
1.0 ns clock cycles are needed to complete the task.
This is the reciprocal of the clock frequency. For example, a 1 GHz processor has a cycle time of 1.0 ns, and a 4 GHz processor has a cycle time of 0.25 ns.
Divide the clock cycles by one to determine the length of the clock cycle. One clock cycle equals 1/(1 * 10^6 cycles/sec) or 1/1 * 1/(10^6 cycles/sec). . A power above 1 reverses the units and signs, so 1/10^6 cycles/second is 10^-6 seconds/period.
The total average number of cycles required to execute one instruction is the product of the frequency times the number of cycles. So = 1 instruction takes 2.13 nanoseconds.
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What+is+the+coupon+rate+of+an+eight-year,+$10000+bond+with+semiannual+coupons+and+a+price+of+$9006,+if+it+has+a+yield+to+maturity+of+5.6%?
The coupon rate of the bond is 4.88% for the semi-annual compounding.
An I bond earns hobby month-to-month from the first day of the month to the problem date. The hobby accrues (is brought to the bond) until the bond reaches 30 years otherwise you cash the bond, whichever comes first. The interest is compounded semiannually.
Bonds are issued with the aid of governments and organizations after they want to elevate cash. By buying a bond, you are giving the provider a mortgage, and they comply with paying you again the face price of the loan on a particular date, and to pay you periodic hobby payments along the manner, commonly twice a 12 months.
Bonds can act as an inflation hedge; some buyers purchase bonds together with the collection I financial savings Bonds or Treasury Inflation-included Securities (hints) for this very cause. Both belongings can be effective in controlling for inflation in the end. Bonds also can reduce the volatility of your portfolio's overall performance.
Using a financial calculator enter the value of,
Future value = $10,000
Present value = -$9006.6568
For semi-annual compounding,
Number of years = 8 x 2 = 16 years
YTM = (6.5% / 2) = 3.25%
CPT coupon rate = 2.44% x 2 = 4.88%
Thus, the coupon rate of the bond is 4.88% for the semi-annual compounding.
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3 months ago (1 quarter of a year), you purchased a share of xyz corp for $36.2. today you sold the share for $32.77. what is the apr for this investment?
Annual percentage rate APR refers to the yearly interest generated by a sum that's charged to borrowers or paid to investors.
Solution:
APR = [(Sale price / purchase price) - 1] * 4
APR = [(32.77 / 36.20) - 1] * 4
APR = -0.09475 * 4
APR = -0.3790
To calculate APR add up all interest and fees paid in a year. Then divide this total by the initial investment amount. This will give you the APR percentage. For example, $100,000 invested at a 6% interest rate will accrue $6,000 in interest. APR is the annual cost of a loan to a borrower, including fees. Similar to interest rates, the effective annual interest rate is expressed as a percentage. However, unlike interest rates, it includes other charges or fees such as mortgage insurance, most closing costs, discount points, and lending fees.
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In a survey of leading american companies, the ability to work in teams was ranked by a majority of?
In a survey of leading American companies, the ability to work in teams
was ranked by a majority of fourth
What does a small group consist of?
Generally, a small group consists of approximately 3-12 people. WHY?
A small group is a collection of people who can all reasonably communicate with ease as both senders and receivers because they are few in number.
A group's members must be related to one another by sharing an objective.
Different groups can produce positive, neutral, or negative experiences depending on their characteristics, functions, and goals.
Small groups typically concentrate on some sort of task completion or goal accomplishment, whereas our interpersonal relationships primarily focus on relationship building.
Examples of small groups that would each have a different size, structure, identity, and interaction style include a campaign team for a state senator, a community of local organic farmers, and a college learning community focused on math and science.
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Which is the best identifier for a variable to represent the amount of money your boss pays you each month?
monthly pay is the best identifier for a variable to represent the amount of money your boss pays you each month.
What does mean of monthly pay?Monthly Pay implies the month to month normal of the Participant's base compensation that's paid by the Company for the ultimate sequential 36-month period of business with the Company.
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Classified ads in newspapers_____. a. are more effective for job seekers than networking b. are a good source of networking contacts c. only lead to jobs for a small percentage of job seekers d. should be the main method used for finding job leads please select the best answer from the choices provided a b c d
Classified ads in newspapers only leads to jobs for a small percentage of jobseekers. Correct ans. is option (c)
Because there aren't many websites that ads position needed listings, the low visibility only draws a small number of hiring managers and recruiters. In addition, head-hunters and job searchers prefer résumé databases to posting ads because they receive significantly less online traffic than job placement sites and resume databases. Further today are few newspapers are being circulated and read by people.
Employers who use newspapers to find job seekers are more selective in their searches. Only small towns or cities and the nearby surrounding areas have access to newspapers.
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the question is incomplete. Check below the full question.
Classified ads in newspapers_____.
a. are more effective for job seekers than networking
b. are a good source of networking contacts
c. only lead to jobs for a small percentage of job seekers
d. should be the main method used for finding job leads please select the
The equal rights amendment was passed by congress but never ratified by the states. Many other proposed amendments have shared the same fate. Explain how the high bar in passing amendments, as illustrated in this example, reflects the framers’ ideas about government?.
The equal rights amendments were passed by congress but never ratified by the states. It illustrates limited government, where decisions about public policy must be made by a majority of the states. Things cannot be amended without the state's consent.
The framers believed that this was the greatest option because they didn't want the central government to be the only authority on modifications.
A limited government is one in which specific and stated powers place limitations on the use of authorized force. There are typically fewer restrictions governing what individuals and businesses may and cannot do in more permissive regimes.
Equal rights under the law are achieved when all people enjoy the same rights.
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Compare and contrast what is meant by "liquidity" when referring to a CD and a mutual fund. (50 points!)
A liquidity of certificate of deposit means the ease of investors to making a withdrawals without incurring a penalty on the account while the liquidity of mutual fund means the ease of investors to making a withdrawals of the funds
What is known as Liquidity?In finance, the term "Liquidity" means the ease with which an asset or security can be converted into ready cash without affecting its market price. As it explains the ease of converting into ready cash without affecting its market price, the most liquid asset of all is the cash itself.
That said, the cash is the most liquid of assets while the tangible items are less liquid. The main types of liquidity include the market liquidity and accounting liquidity.
In conclusion, the liquidity of certificate of deposit and mutual funds means the ease of investors to making a withdrawals without incurring a penalty on the account and this is an important attribute of these securities as it measures the fund's ability to meet near-term shareholder redemption.
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______ convert an organization's mission and business into long- and short-term performance targets.
a. goals
b. tactics
c. strategies
d. segments
The mission and business of an organisation are transformed into long- and short-term performance targets through goals.
Goal-based investing is a relatively new method of wealth management that places an emphasis on making investments with the intention of achieving particular life objectives. Goal-based investing (GBI) involves clients of a wealth manager or investment firm tracking their progress toward specific life goals, such as saving for a child's education or creating a nest egg for retirement, rather than concentrating on generating the highest possible portfolio return or outperforming the market. Goal-based investing incorporates personal objectives such as retirement planning and college savings. Goal-based investment puts more of an emphasis on achieving personal objectives than on maximising returns. Goal-based investing is different from traditional investing in that its criterion for success is how effectively the investor is able to achieve their personal life objectives, rather than how well their investments perform in comparison to the market.
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Long range hr planning is merely a wishful thinking. do you agree with this statement? why?
Planning for prospective problems that may or may not arise in the future is part of a long-term HR strategy.
Having a long-term HR strategy in place to deal with each prospective issue is frequently a smart idea, regardless of how likely or unlikely it is that an HR issue would develop.
Using human resource planning, a business can more successfully maintain and find the right individuals to hire with the technical and soft skills required to maximize their function within the firm (HRP).
The basic goal of human resource planning is to determine the precise number of personnel needed, together with the skills needed to achieve organizational goals.
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