Answer:
Bank A
Yes
Explanation:
Effective annual rate = ( 1 + periodic interest rate)^m - 1
periodic interest rate = interest rate / number of compounding per year
m = number of compounding per year
Bank A = (1 + 0.02) - 1 = 2%
Bank B = (1 + 0.0175 / 365)^365 - 1 = 1.7654%
Bank A should be chosen because the EAR is higher
Yes, it should. if one plans to withdraw during the year, Bank B would be a better option because the amount invested would earn interest when withdrawn.
if one plans to withdraw within the year, and he invests in Bank A, if withdrawal is made within the year, all interest would be forfeited.
a. Bank A should be selected.
b. Yes
Calculation of the EAR:Since we know that
Effective annual rate = ( 1 + periodic interest rate)^m - 1
Here,
periodic interest rate = interest rate / number of compounding per year
m = number of compounding per year
Now
Bank A = (1 + 0.02) - 1 = 2%
Bank B = (1 + 0.0175 / 365)^365 - 1 = 1.7654%
Bank A should be selected since the EAR is higher
b.
Yes, it should. In the case, one plans should be withdrawn at the time of year so here bank B should be a better option since the amount invested earned interest at the time of withdrawn.
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The agent of a broker-dealer registered in State A, sells unregistered non-exempt securities to customers in State A. These customers lose a substantial sum of money on the investment. Which statement is TRUE
Answer:
The clients may initiate a civil lawsuit to recover their losses
Explanation:
It is assumed that the agent sold the securities with an intention to defraud. Under the Uniform Securities Act, the client may initiate a civil lawsuit so as to recover losses. Clients would sue based on the fact that the securities were unregistered and non-exempt while attempting to get back what they have lost in finance, attorney fees, and interest inclusive. These 3 damages are only applicable to insider trading.
HK Goods Inc. is a large conglomerate that operates only in its home country. The company competes in industries like the consumer electronics, health care, hotel, airlines, education, and steel industries. Which of the following diversification strategies does this best illustrate?
A. Process diversification
B. Product diversification
C. Geographic diversification
D. Market diversification
Answer:
B. Product diversification
Explanation:
Based on this information it seems that HK Goods Inc. is following the diversification strategy known as product diversification. This strategy revolves around selling the same or different variations of a product but in various different markets. Which is what HK Goods Inc. is doing by competing in a large variety of markets such as consumer electronics, health care, hotel, airlines, education, and steel industries, but still selling the same base product in only one geographical location.
A job cost sheet of Fugate Company is given below.
Job Cost Sheet
Date Direct Materials Direct Labor Manufacturing Overhead
5/10 1,330
12 1,120
15 550 825
22 480 720
24 1,000
27 1,870
31 670 1,005
Cost of completed job:
Direct materials.
Direct labor.
Manufacturing Overhead.
Total cost.
Unit cost.
Requried:
a. What is the predetemined manufacturing overhead rate?
b. What are the total cost and the unit cost of the completed job?
c. Prepare the entry to record the completion of the job.
Answer:
A.Direct material 5,320
Direct labour 1,700
Manufacturing overhead 2,550
B. Total cost 9,570
Unit cost 6.38
C. Dr Finished goods inventory account 9,570
Cr Work in Process inventory account 9,570
Explanation:
A. Calculation for the predetemined manufacturing overhead rate
Date Direct material Direct Labour Manufacturing Overhead
5/10 1,330
12 1,120
15 550 825 825
22 480 720 720
24 1,000
27 1,870
31 670 1,005
Total 5,320 1,700 2,550
B. Calculation for the total cost and the unit cost of the completed job
Cost of Completed job :
Direct material 5,320
Direct Labour 1,700
Manufacturing Overhead 2,550
Total Cost 9,570
Unit Cost = Total Cost / Number of units
Unit cost = 9,570/1,500
Unit cost = 6.38
C.Therefore when a job is fully completed, thebFinished goods inventory account will be
debited with the correspondent credit of Work in progress account.
Journal entry
May.31
Dr Finished goods inventory account 9,570
Cr Work in Process inventory account 9,570
In 1985, a given Japanese imported automobile sold for 1,476,000 yen, or $8,200. If the car still sold for the same amount of yen today but the current exchange rate is 144 yen per dollar, what would the car be selling for today in U.S. dollars?
Answer:
The car will be selling for $10250 today
Explanation:
To calculate the selling price of the car in dollars today, we have to convert the value of 1476000 yen into dollars based on the exchange rate between dollars and yen today. It is known that the car will be sold for the same amount of yen today for which it was sold in 1985 and this amount is 1476000 yen.
We know that 1 dollar equals 144 yen.
Thus, let x be the number of dollars that equal 1476000 yen today.
x = 1476000 / 144
x = $10250
The car will be sold for $10250 today
n applying the lower of cost or market rule, the inventory of rehab equipment would be valued at: A) $315. B) $247. C) $150. D) $235.
Answer:
D) $235.
Explanation:
As we know that the inventory should be valued at cost or market value whichever is lower
In the given case
Selling price = $340
Net realizable value is
= Selling price - cost of sell
= $340 - $25
= $315
Replacement cost is $235
Cost = $250
As we can see that the replacement cost is less than the cost so the replacement cost should be valued i.e $235
a. Prepare a cost of goods manufactured statement for January.
b. Determine the cost of goods sold for January.
Cost data for Sandusky Manufacturing Company for the month ended January 31 are as follows:
Inventories January 1 January 31
Materials $314,000 $276,800
Work in process 216,000 239,800
Finished goods 163,200 189,000
January 31
Direct labor $567,000
Materials purchased during the month 606,600
Factory overhead incurred during the month:
Indirect labor 60,520
Machinery depreciation 32,000
Heat, light, and power 12,200
Supplies 8,220
Property taxes 8,880
Miscellaneous costs 16,460
Answer:
a.Cost OF Goods Manufactured $ 1324,680
b.Cost OF Goods Sold 1298,880
Explanation:
Sandusky Manufacturing Company
Cost of Goods Manufactured Statement
For the Month Ended January 31
Materials Inventories Beginning $314,000
Add Materials purchased during the month 606,600
Less Materials Inventories January 31 Ending $276,800
Total Materials Used $ 643,800
Direct labor $567,000
Factory overhead incurred during the month: $ 138280
Indirect labor 60,520
Machinery depreciation 32,000
Heat, light, and power 12,200
Supplies 8,220
Property taxes 8,880
Miscellaneous costs 16,460
Total Manufacturing Costs 1349,080
Add Work in process Beginning 216,000
Cost OF Goods Available For Manufacture $ 1565,080
Less Work in process Ending 239,800
Cost OF Goods Manufactured $ 1325,280
The Cost OF Goods Manufactured Statement is obtained by the following formula
Cost OF Goods Manufactured = Materials used+ direct labor+ FOH + WIP Beginning - WIP Ending.
Sandusky Manufacturing Company
Cost of Goods Sold Statement
For the Month Ended January 31
Cost OF Goods Manufactured $ 1325,280
Add Finished goods Beginning 163,200
Cost OF Goods Available For Sale 1488,480
Less Finished goods Ending 189,000
Cost OF Goods Sold 1299,480
The Cost OF Goods Sold Statement is obtained by the following formula
Cost OF Goods Sold = Cost OF Goods Manufactured+ FG Beginning - FG Ending.
Job-Order Costing and Decision Making [LO2-1, LO2-2, LO2-3]
Taveras Corporation is currently operating at 50% of its available manufacturing capacity. It uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates:
Machine-hours required to support estimated production 225,000
Fixed manufacturing overhead cost $ 4,275,000
Variable manufacturing overhead cost per machine-hour $ 2.00
Required:
1. Compute the plantwide predetermined overhead rate.
2. During the year, Job P90 was started, completed, and sold to the customer for $3,700. The following information was available with respect to this job:
Direct materials 1,702
Direct labor cost $ 1,221
Machine-hours used 84
Compute the total manufacturing cost assigned to Job P90.
Answer:
a. $21 per machine hours
b. $4,855
Explanation:
a. The computation of the plantwide predetermined overhead rate is shown below:
Plantwide predetermined overhead rate is
= Variable overhead cost rate per machine hour + Fixed overhead cost rate per machine hour
= $2 + (fixed manufacturing overhead cost ÷ Estimated machine hours)
= $2 + ($4,275,000 ÷ 225,000 machine hours)
= $2 + $19
= $21 per machine hour
b. Now the total manufacturing cost assigned is
Particulars Amount
Direct material $1,702
Direct labor $1,221
Variable manufacturing overhead $168
(84 × $2)
Total variable cost $3,091
Add:
Fixed manufacturing overhead
(84 × $21) $1,764
Total manufacturing cost assigned
to Job P90 $4,855
Viking Corporation is owned equally by Sven and his wife Olga, each of whom hold 160 shares in the company. Viking redeemed 80 shares of Sven's stock for $1,900 per share on December 31, 20X3. Viking has total E&P of $580,000. What are the tax consequences to Viking because of the stock redemption?
Answer:
A reduction of $152,000 in E&P because of the exchange
Explanation:
Solution
Recall that:
Sven and Olga hold shares of =160
Viking redeemed 80 shares of Sven's stock for the amount = $1,900
Total E&P = $580,000
Now
The redemption will be treated as a dividend so, because Viking decreases its E&P by the amount issued.
Consumerism is described as activities undertaken by independent individuals, groups, and organizations to protect their rights as consumers.
a. True
b. False
Answer:
a. True
Explanation:
This alternative is true, as consumerism can be defined as a phenomenon that is positive for economic growth to occur, because through the increase in the consumption of goods and services, companies benefit from increased sales, revenues and profits while consumers benefit from the utilities and benefits of the consumer goods they purchase.
Therefore, consumerism is seen as a phenomenon that strengthens the capitalist economy, as consumer spending accounts for most of the GDP and aggregate demand, factors essential to economic growth.
Brandon is responsible for organizing his company’s financial data. This includes a large number of data categories, some relating to personal employee information, some relating to purchasing or sales records, and others relating to salary and wage considerations. Of course some of the data needs to be included in more than one category. What type of tool is he most likely to use in order to organize all the data?
A. Relational database
B. Spreadsheet
C. Desktop publishing software
D. Analytics software
Answer:
The answer is Relational Database
Explanation:
On December 31, 2021, Coolwear Inc. had balances in Accounts Receivable and Allowance for Uncollectible Accounts of $44,000 and $1,300, respectively. During 2022, Coolwear wrote off $775 in accounts receivable and determined that there should be an allowance for uncollectible accounts of $4,100 at December 31, 2022. Bad debt expense for 2022 would be:
Answer: $3,575
Explanation:
Opening balance for Allowance for Noncollectable Accounts for 2022 is closing balance for 2021 = $1,300.
Cool wear wrote off $775 during the year which would come out of the allowance;
= 1,300 - 775
= $525
An allowance of $4,100 was determined for the year which means that the Bad debt expense is the difference between the determined allowance and the current balance because this is the amount that the account had to be increased by to cater for the bad debt expense.
= 4,100 - 525
= $3,575
A company that wanted to increase its capital through equity financing would most likely get involved in which of the following markets?
A. Stock market
B. Bond market
C. Commodity market
D. Currency exchange market
A company that wanted to increase its capital through equity financing would most likely get involved in the stock market.
What is the stock market?This is the market where shares, treasuries and other forms of security are traded.
The market is a place for a company to invest in if they are trying to increase their equity financing.
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Handel Company uses the allowance method for estimating uncollectible accounts.
January 5 Sold merchandise to Terry Richman for $2,000, terms n/15.
April 15 Received $600 from Terry Richman on account.
August 21 Wrote off as uncollectible the balance of the Terry Richman account when she declared bankruptcy.
October 5 Unexpectedly received a check for $300 from Terry Richman. It is not felt any more will be received from Richman.
Prepare journal entries to record the above transactions: (Credit account titles are automatically indente
Answer:
Entries are given below
Explanation:
January 5 - Sold Merchandise
DEBIT CREDIT
Receivable - Terry $2,000
Sales Revenue $2,000
April 15 - Received $600 from terry
DEBIT CREDIT
Cash $600
Receivable - Terry $600
August 21 wrote off uncollectable debt
DEBIT CREDIT
Allowance for debt (2000-400) $1,400
Receivable - Terry $1,400
October 5 Received a check
DEBIT CREDIT
Receivable - Terry $300
Allowance for doubtful debt $300
Which of the following expands a company's market, allows firms to grow, and makes them less dependent on their country's economy for success?
a. WTO
b. GATT
c. global marketing
d. legal environment
Answer:
global marketing
Explanation:
Global marketing is defined is marketing a country or company's product not only locally but also internationally.
it is the process of producing, placing, and marketing a business' or nations goods or services worldwide.
On September 12, Vander Company sold merchandise in the amount of $6,200 to Jepson Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,200. Jepson uses the periodic inventory system and the gross method of accounting for purchases. Jepson pays the invoice on September 18, and takes the appropriate discount. The journal entry that Jepson makes on September 18 is:
Answer:
Accounts Payable $ 6200 Dr
Purchases Discounts $ 124 Cr
Cash $ 6076 Cr
Explanation:
Periodic inventory system is one in which the entries are passed periodically after a specific length of time.
In the Books of Jepson
Periodic Inventory
Gross Method
Journal Entry
Particulars Debit Credit
Accounts Payable $ 6200 Dr
Purchases Discounts $ 124 Cr
Cash $ 6076 Cr
Discount within the first ten days will be of 2%
$ 6200 *2%= $124
Remaining amount 6200-124 = 6076 will be paid in cash.
The weather report says that a devastating and unexpected freeze is expected to hit Florida tonight during the peak of the citrus harvest. In an efficient market, one would expect the price of Florida Orange's stock to Group of answer choices increase immediately. drop immediately. gradually increase for the next several weeks. unable to determine. gradually decline for the next several weeks.
Answer:
A. drop immediately.
Explanation:
In an efficient market, assets within it are expected to accurately represent all of the knowledge that affects that asset. The market is very sensitive to and changes accordingly to new knowledge.
When the weather forecast states that it is expected that a catastrophic and unpredictable freeze will strike Florida tonight during the height of the citrus harvest, the price of Orange 's stock will instantly drop.
A later good news could trigger an increase in stock prices.
"Bic, which is widely known for producing ballpoint pens and related writing products, tried to introduce Bic disposable underwear. The reason this new product failed is likely because of"
Answer: a. ineffective branding.
Explanation:
People were already used to seeing Bic as a pen brand to the extent that in some countries Bic is a generic name for all pens . When they introduced the underwear, people could probably see no need to buying an underwear with the Bic brand because they knew it as a pen brand. They therefore could not generate a strong brand association with the new product.
It is the same logic as when an actor has been on a Sitcom for so long that when they take on other roles, the public judges them a bit too harshly for it because they are not used to them in other roles.
You have been appointed to lead an existing group. Your boss, who informed you of the assignment, made these comments: "These people have some real issues. They have been a problem for years. They stick together like family but never seem to get much work done." Which of these would best describe this group?
Answer:
This is a group that can be defined by its high cohesiviness and low performance norms.
Explanation:
In this case, the new leader must focus on solving this problem that already exists where team members have high cohesion, but who have a low performance with regard to compliance with internal rules and procedures.
The ideal in this case would be for the leader to review the set of company policies and standards and seek to establish new rules and procedures for living and working together.
Having a cohesive team is not a weakness for an organization, the ideal is to know how to exploit the potential of each member of that team, so that each one delivers to the company an effective job that contributes to the achievement of the objectives and organizational goals.
The manager can also invest in training, redesigning the layout of work and tasks, setting deadlines for completing activities, delivering warnings to ward off inappropriate behavior during working hours, etc.
A fixed-income portfolio manager sets a minimum acceptable rate of return on the bond portfolio at 4.0% per year over the next 3 years. The portfolio is currently worth $10 million. One year later interest rates are at 5.0%. What is the portfolio value trigger point at this time that would require the manager to immunize the portfolio
Answer:
The portfolio value trigger point at this time that would require the manager to immunize the portfolio would be $12,401,625
Explanation:
In order to calculate the portfolio value trigger point we would have to calculate first the Minimum terminal value as follows:
Minimum terminal value=portfolio value*(1+rate of return)∧3
portfolio value= $10 million
rate of return=4.0%
Hence, Minimum terminal value=$10,000,000*(1.04)∧3
Minimum terminal value=$11,248,640
To calculate the portfolio value trigger point we would have to make the following calculation:
portfolio value trigger point=Minimum terminal value*(1+interest rates)∧2
portfolio value trigger point=$11,248,640*(1.05)∧2
portfolio value trigger point=$12,401,625
The portfolio value trigger point at this time that would require the manager to immunize the portfolio would be $12,401,625
A customer purchases $100,000 of corporate bonds at 80% in a margin account. The customer must deposit:
Answer:
$16,000
Explanation:
Computation of what the customer must deposit for purchasing $100,000 of corporate bonds at 80% in a margin account
Since the minimum maintenance is the standard that is set by FINRA is the greater of 7% of the face amount or 20% of the market value.
Hence,
The bonds are purchased at 80% of $100,000 par, thus the first step is to find the 80% of $100,000. Calculated as :
80%×$100,000= $80,000
Second step is to find the 20% of $80,000 which is calculated as:
20% ×$80,000 = $16,000.
Third step is to find the 7% of $100,000, calculated as:
7% of $100,000 face = $7,000.
Based on the above calculation the greater amount is $16,000 which means that the customer must deposit the amount of $16,000 which is the greater amount.
the pure expectations theory holds, which of the following statements is CORRECT? a. The maturity risk premium would be zero. b. The yield curve for Treasury securities would be flat, but the yield curve for corporate securities might be downward sloping. c. If 2-year bonds yield more than 1-year bonds, an investor with a 2-year time horizon would almost certainly end up with more money if he or she bought 2-year bonds. d. The yield curve for both Treasury and corporate bonds should be flat. e. The yield curve for Treasury securities cannot be downward sloping.
Answer: The Maturity Risk Premium would be zero.
Explanation:
The Pure Expectations Theory believes that forward rates are just a representation of what people expect Future rates to be.
For this reason therefore, it believed that the Maturity Premium is Zero amongst Long Term Treasury Securities and that the difference in interest rates attached to Treasury bonds of different maturities is simply a result of what people perceive future interest rates to look like but as for Maturity Premiums, it doesn't exist in long term Treasury Securities.
On January 2, 20X5, Park Co. purchased 10 percent of Sky, Inc.'s outstanding common shares for $400,000. Park is the largest single shareholder in Sky, and Park's officers are a majority on Sky's board of directors. As a result, Park is able to exercise significant influence over Sky. Sky reported net income of $500,000 for 20X5, and paid dividends of $150,000. In its December 31, 20X5, balance sheet, what amount should Park report as investment in Sky?
Answer:
The answer is $435,000
Explanation:
Initial Investment-----------------$400,000
Park Co's share of Sky's net income(10% x $500,000) --- $50,000
Park Co's share of Sky's dividend (10% x $150,000) ---------------------- ($15,000)
Reported Investment--------- $435,000
Therefore, Park's balance sheet
will report $435,000 as the investment in Sky's in the year ended December 31, 20X5.
The cost of raising capital through retained earnings is__________ the cost of raising capital through issuing new common stock.
Answer:
less
Explanation:
flotation costs are the cost incurred when issuing new common stock.
there are no flotation cost when using retained earnings to raise new capital.
Confectioners, a chain of candy stores, purchases its candy in bulk from its suppliers. For a recent shipment, the company paid $2700 and received 7500 pieces of candy that are allocated among three groups. Group 1 consists of 2230 pieces that are expected to sell for $0.15 each. Group 2 consists of 4960 pieces that are expected to sell for $0.31 each. Group 3 consists of 310 pieces that are expected to sell for $0.67 each. Using the relative sales value method, what is the cost per item in Group 1
Answer:
group units selling price total
1 2,230 $0.15 $334.50
2 4,960 $0.31 $1,537.60
3 310 $0.67 $207.70
total $2,079.80
Something is not right with the question, since the company paid too much money for the candy that they purchased. In order to allocate costs, we divide the cost by the selling price = $2,700 / $2,079.80 = $1.2982
the unit cost for each candy is:
Group sales price per unit adjusting cost factor cost per unit
1 $0.15 $1.2982 $0.195
2 $0.31 $1.2982 $0.402
3 $0.67 $1.2982 $0.87
If workers leave a country to seek out better opportunities in another country, then this will move the original economy up along a stationary short-run aggregate supply curve. move the original economy down along a stationary short-run aggregate supply curve. shift the short-run aggregate supply curve of the original country to the left. shift the short-run aggregate supply curve of the original country to the right.
Answer: Shift the short-run aggregate supply curve of the original country to the left.
Explanation:
Workers are an input in the production of goods and services. If workers in an economy reduce in number, this would mean that there would be less workers able to produce goods and services in the country. This will invariably lead to a decrease in the amount of goods and services supplied and when there is a decrease in supply, the Short-Run Aggregate Supply curve will shift to the left to reflect this.
Parker & Stone, Inc., is looking at setting up a new manufacturing plant in South Park to produce garden tools. The company bought some land 10 years ago for $5 million in anticipation of using it as a warehouse and distribution site, but the company has since decided to rent these facilities from a competitor instead. If the land were sold today, the company would net $9.6 million. The company wants to build its new manufacturing plant on this land; the plant will cost $15.2 million to build, and the site requires $960,000 worth of grading before it is suitable for construction.
What is the proper cash flow amount to use as the initial investment in fixed assets when evaluating this project?
Cash Flow amount $ _____
Answer:
$25,760,000
Explanation:
The net amount of decrease and increase of cash a business or individual owns.
To find the proper cash flow amount used as the initial investment in fixed assets, use the following:
Calculation of initial investment outflow = cost of land + cost of plant + grading cost
= $9,600,000 + 15,200,000, + $960,000
= $25,760,000
Calculation of initial investment outflow = $25,760,000
Therefore the initial investment outflow is $25,760,000
You put up $50 at the beginning of the year for an investment. The value of the investment grows 4% and you earn a dividend of $3.50. Your HPR was ____. A. 4% B. 3.5% C. 7% D. 11%
Answer: 11%
Explanation:
From the question, we are informed that an individual put up $50 at the beginning of the year for an investment and that the value of the investment grows 4% and the person earn a dividend of $3.50.
The HPR will be calculated as :
= 4% + (3.50/50)
= 4% + 0.07
= 0.04 + 0.07
= 0.11
= 11%
A lumber mill is capable of producing 10,000 board feet of lumber per day when run ten hours per day with minimal breaks. Over the past year, forestry legislation has reduced the availability of raw materials, so the mill has produced an average of 4,575 board feet per day. What is the utilization of the plant
Answer:
45.75%
Explanation:
When asking for the utilization of the plant, the question is basically referring to how much of its full potential is the plant currently operating at. Therefore this can be calculated by dividing its current output (4,575) by its maximum output (10,000) like so...
4,575 / 10,000 = 0.4575
Now we multiply that by 100 in order to get the percentage.
0.4575 * 100 = 45.75%
Therefore the current utilization of the plant is 45.75%
Microsoft and a smaller rival often have to select from one of two competing technologies, A and B. The rival always prefers to select the same technology as Microsoft (because compatibility is important), while Microsoft always wants to select a different technology from its rival. If the two companies select different technologies, Microsoft's payoff is 4 units of utility, while the small rival suffers a loss of utility of 2. If the two companies select the same technology, Microsoft suffers a loss of utility of 2 while the rival gains 2 units of utility. Using the given information, fill in the payoffs for each cell in the matrix, assuming that each company chooses its technology simultaneously. Microsoft Technology A Technology B Rival Technology A Rival: , Microsoft Rival: , Microsoft Technology B Rival: , Microsoft Rival: , Microsoft True or False: There is an equilibrium for this game in pure strategies. True False
Answer:
True
Explanation:
Microsoft matrix along with his rivals. There are two ways to use the technology. Microsoft and its rival can move simultaneously. The equilibrium strategy can be determined y pay off matrix. The both companies use pure strategy. The criteria for pure strategy is max-min and min-max. The max-min strategy means select least case from all the best cases and min-max is selecting the best case from all the least cases.
tock is trading at $100 and you buy a put option on it with one year to expiration and a strike price of $110. The put premium is $15. What is the maximum profit you can make on this put option if you wait until expiration
Answer:
The answer is -$5
Explanation:
A put option gives its owner/holder the right but not the obligation to sell. The holder of a put option is expecting the price of the underlying asset(stock) to drop.
The formula is:
Profit = max(0, X - St) - P
where X is the strike or exercise price
St is the market value or the spot price of the underlying asset
P is the premium
max(0, $110 - $100) - $15
10 - $15
-$5