Answer:
no body will buy it
Explanation:
u increase and decrease the price so much that no body will know the price
For consumers, lower prices mean better deals. Also, consumers can benefit from additional products and services offered during a price war. For example, if car companies are engaged in a price war, consumers might be able to score a bargain price for a high-end model car that otherwise would have been too expensive
On December 31, 2018, Gardner Company holds debt securities classified as HTM with a face amount of $100,000 and a carrying value of $95,000. The bonds have an effective interest rate of 6% and pay interest of $2,500 semi-annually on June 30 and December 31. The effective interest revenue recognized for the six months ended December 31, 2018 is:
Answer:
$2,850
Explanation:
Given the following :
Face value of security = $100,000
Carrying value = $95,000
Effective interest rate = 6%
Interest paid semianually = $2500
The effective interest revenue recognized for the six months ended December 31, 2018 is:
IF effective interest rate = 6%
Semiannual interest = 6% / 2 = 3%
Therefore effective interest revenue for six months will be the product of the carrying value and the interest rate within the six months period :
3% = 0.03
0.03 * $95,000 = $2,850
Judith George makes an offer to sell a plot of land using a normal letter and states no authorized means by which the offeree, Helga Holmes must respond if she accepts. If Helga accepts the offer using a normal letter, which of the following is true?
A. The acceptance is effective upon dispatch.
B. The acceptance is effective when it is received.
C. The offer is invalid because it fails to stipulate the means of acceptance.
D. The acceptance would be effective upon dispatch even if the means of acceptance is unreasonable.
Answer: A. The acceptance is effective upon dispatch.
Explanation:
According to mail box rule, an offeree mails out both an acceptance and a rejection to the offeror by giving to statements: (i) an acceptance is effective upon dispatch (means offeree decides to accept) or (ii) a rejection is effective upon receipt.(means offeree decides to reject)
Here, Judith George → offeror
Helga Holmes → offeree
If Helga accepts the offer using a normal letter, the correct statement would be :
A. The acceptance is effective upon dispatch.
Answer the question on the basis of the following information. A farmer who has fixed amounts of land and capital finds that total product is 24 for the first worker hired; 32 when two workers are hired; 37 when three are hired; and 40 when four are hired. The farmer's product sells for $3 per unit and the wage rate is $13 per worker. Refer to the given information. The marginal revenue product of the second worker is:
Answer: $24
Explanation:
Given the following :
Total product for first worker hired = 24
Total product when two workers are hired = 32
Product price = $3 per unit
The marginal revenue product of a worker is equal to the product of the marginal product of labor (MPL) and the marginal revenue (MR) of output.
Marginal revenue product of second worker:
The marginal product of labor :
Change in output when additional labor is added
Therefore, change in product when worker increases from one to two workers ;
32 - 24 = 8 products
Marginal product of labor * product price
8 * $3 = $24
Nick manages a grocery store in a country experiencing a high rate of inflation. He is paid in cash twice per month. On payday, he immediately goes out and buys all the goods he will need over the next two weeks in order to prevent the money in his wallet from losing value. What he can't spend, he converts into a more stable foreign currency for a steep fee. This is an example of the of inflation.
Answer:
Shoe leather cost
Explanation:
Inflation is a persistent rise in general price levels.
shoe leather cost is the cost incurred by people that do not want to hold cash in a period of high inflation so as to avoid paying inflation tax.
Nick's shoe leather costs includes buying goods immediately he is paid and converting the money he cant spend into foreign currency
ABO purchased a truck at the beginning of 2018 for $140,000. They sold the truck at the end of 2019 for $95,000. If the expected useful life of the truck was six years with a residual value of $20,000 and ABO uses straight-line depreciation, which of the following is true regarding the entry to record the sale of the truck?
A. Credit Gain $5,000
B. Debit Loss $5,000.
C. Credit Accumulated Depreciation $40,000.
D. Credit Equipment $100.000.
Answer:
Therefore, the entry to record the sale of the truck involves B. Debit Loss $5,000.
Explanation:
First determine the Accumulated depreciation on the Truck
Depreciation Expense = Cost - Residual Value / Estimated Useful years
= ($140,000 - $20,000) / 6
= $20,000
Accumulated Depreciation :
2018 : $20,000
2019 : $20,000
Total : $40,000
Then Process the Sales journal to determine the profit or loss on sale of Truck as follows :
Accumulated Depreciation $40,000 (debit)
Cash $95,000 (debit)
Profit and Loss $5,000(debit)
Cost : Truck $140,000 (credit)
Conclusion :
Therefore, the entry to record the sale of the truck involves B. Debit Loss $5,000.
Assume that Fred and Paul sign a contract in which Fred agrees to paint Paul's house in exchange for $500. If Fred and Paul agree one week later that Paul will pay Fred's daughter, Emma, the $500 directly as a birthday gift and they notify Emma of this fact, then Emma is a. intended beneficiary. b. assignee. c. incidental beneficiary. d. a delegatee. e. a beneficiary.
Answer:
option c
Explanation:
In simple words, An incidental recipient refers to the third party benefiting from a deal with two certain parties, however it is never meant to support a third party. Accordingly, that third party has no legal protection underneath the deal in the agreement. Thus, from the above we can conclude that the correct option is C.
The legal document identifying the rights and obligations of both the bondholders and the issuer is called the bond ______. This document describes the number of bonds authorized, their par value, and the contract interest rate. agreement document indenture article
Answer: indenture
Explanation:
The bond indenture is a legal contract that or covers a purchase obligation or a debt.
Therefore, the legal document identifying the rights and obligations of both the bondholders and the issuer is called the bond indenture. This document describes the number of bonds authorized, their par value, and the contract interest rate.
If a 10% decrease in the price of one product that you buy causes an 8% increase in quantity demanded of that product, will another 10% decrease in the price cause another 8% increase (no more and no less) in quantity demanded?
Answer:
No
Explanation:
to determine if another 10% decrease in the price cause another 8% increase (no more and no less) in quantity demanded, we have to determine the price elasticity of demand.
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
Price elasticity of demand = percentage change in quantity demanded / percentage change in price
8% / 10% = 0.8
demand in inelastic so a 10% reduction in price would lead to a less than 8% change in quantity demanded
Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one
GeoMines Corp. has the following costs related to a mine it acquired this year. Cost of land and natural resource rights $100,000 Development cost before production begins 20,000 Future cost to restore land after mining 15,000 Equipment used for mining 80,000 Exploration and drilling costs 30,000 What amount should be included as an asset for natural resources
Answer:
$165,000
Explanation:
The cost of an asset is derived by considering every cost related to the purchase of an item and putting the asset to use, These costs include the original purchase price , site preparation ,transportation ,installation and testing , warranties and the future cost of restoring dismantling and restoring the land at the completion of its useful life time.
Looking at the given scenario , the related cost of the natural resources as an asset are the cost of the land and the natural resources , development cost ,future cost of land restoration and the cost of exploration and drilling.
The depreciation value of the equipment used for mining will be charged as an expense for the operation year.
Cost of natural resources = 100,000+20,000+15,000+30,000=165,000
In a perpetual average cost system:_________
a) A new weighted-average unit cost is calculated each time additional units are purchased.
b) The cost allocated to ending inventory is generally the same as it would be in a periodic inventory system.
c) The moving-average unit cost is determined following each sale.
d) The average is determined by dividing the total number of units sold by the cost of units purchased during the period.
Answer:
a) A new weighted-average unit cost is calculated each time additional units are purchased
Explanation:
Perpetual Inventory system is the method of recalculating the value of goods held after each transaction.
In Weighted Average Cost Method, the average cost of goods held is recalculated each time a new delivery of goods is received. Issues are then priced at this weighted average cost.
2) A firm sells two products. Product R sells for $20; its variable cost is $6. Product S sells for $50; its variable cost is $30. Product R accounts for 60 percent of the firm's sales, while S accounts for 40 percent. The firm's fixed costs are $4 million annually. Calculate the firm's break-even point in dollars.
Answer:
$6896551.7
Explanation:
Given the following :
Product R:
Selling price = $20
Variable cost = $6
Product S:
Selling price = $50
Variable cost = $30
Firm's fixed cost = $4, 000,000
Break-even point dollars = (Fixed cost /Contribution margin ratio)
Contribution margin : selling price - variable cost
Product R: $(20 - 6) = $14
Contribution margin ratio = ($14/$20) * 60% = 0.42
Product S: $(50 - 30) = $20
Contribution margin ratio = ($20/$50) * 40% = 0.16
Sum of contribution margin ratio for both products = (0.42 + 0.16) = 0.58
Break-even point dollars = (Fixed cost /sum of Contribution margin ratio)
= $4,000,000/0.58
= $6896551.7
Which identification number is the most important component of your personal identity?
A.
debit card PIN
B.
credit card PIN
C. employee ID of the company
D.
social security number
E.
bank account number
Answer:
D.
social security number
Explanation:
This is because that number allows the government to keep track of your lifetime earnings and years you have worked
In the manufacture of 10,000 units of a product, direct materials cost incurred was $165,000, direct labor cost incurred was $105,000, and applied factory overhead was $53,000. The total conversion cost is
Answer:
$158,000
Explanation:
During the manufacture of 10,000 units of a products, the direct costs incurred was $165,000
The direct labour costs incurred was $105,000
The applied factory overhead was $53,000
Therefore, the total conversion cost can be calculated as follows
Total conversion costs= Direct labour+ Factory overhead
= $105,000+$53,000
= $158,000
Hence the total conversion cost is $158,000
This table shows Lucas’s budget from last month. He also included his actual expenses after the month ended. Which of these changes should Lucas consider in next month’s budget? Check all that apply. less for income less for food more for discretionary spending more for income less for discretionary spending
Answer:
Less for income
Less for food
less for discretionary spending
Explanation:
Luca has prepared the budget for the month. He has included actual expenses in the budget to compare the budget with actual expenses. He has used flexed budgeting technique to incorporate his savings and expenses. He should keep less income, less for food and less for discretionary expenses in the new budget.
Answer:
A: less for income
B: less for food
E: less for discretionary spending
Explanation:
In his new budget he needs to do less for income, less for food, and less for discretionary spending. He needs less for income because in his budget it assumes he makes 400$ a month, however this month he made 375$. He needs to cut down on food an discretionary spending because he is spending too much for the amount he makes.
If the predetermined overhead allocation rate is 250% of direct labor cost and the Finishing Department's direct labor cost for the reporting period is $20,000, the following entry would record the allocation of overhead to the products processed in this department:
Work in Process Inventory, Finishing Dept 50,000 Factory Overhead 50,000
a) True
b) False
Answer:
a) True
Explanation:
The following entry would be recorded to allocate the overhead to the products processed
Date Account&Explanation Debit Credit
Work in progress, Finishing department $50,000
($20,000 * 250%)
Factory Overhead $50,000
(To allocate the overhead)
Explanation: Work in process account would be debited to accumulate the manufacturing overhead to the cost of the product
And, factory overhead would be credited to charge such expenses to the product
Conclusion: The given journal entry is correct.
On January 1, Song Corp. receives a $100,000, two-year, note receivable from a customer in exchange for payment of goods. The note has a 12% effective interest rate. On January 1, when Song receives the note from the customer, Song will record (Select all that apply.) Note: you must use present value computations to answer this questions.
Textbook Answer
Note Receivable (debit) 100,000
Discount on Note Receivable (credit) 20,281
Sales Revenue (credit) 79,719
I know that Sales Revenue is the difference between the Note Receivable and the Discount on Note Receivable.
HOW DO YOU FIND THE DISCOUNT ON NOTE RECEIVABLE FOR THIS QUESTION USING THE TVM BUTTONS ON A FINANCIAL CALCULATOR? Please provide the exact input and then the reason why.
N = _______
I/Y = _________
PV = _________
PMT = _________
FV = _________
Answer:
Song Corp
1. Correct Journal Entries for the transaction:
Debit Note Receivable $100,000
Credit Interest on Note Receivable $20,281
Credit Sales Revenue $79,719
To record the sale of goods with a 12% note receivable.
2. Explanation of how the discount (Interest) on the Note Receivable was found:
The first button to select on the Calculator is the "Starting Principal," because this is the variable of interest.
The inputs on the TVM buttons were the $100,000 on the FV, $0 on the PMT, 2 on the N, and 12 on the I/Y buttons. These inputs then calculated the value of PV as $79,719 and Interest as $20,281 approximately when I pressed the "Calculate" button.
N = Number of Periods = 2 years
I/Y = Interest Rate = Effective Interest Rate of 12%
PV = Calculated Value (Present Value of the sales transaction = $79,719)
PMT = Periodic Monthly Payments made to settle the debt = $0.
FV = Future value of the note = $100,000
Total Interest = $20,281
Explanation:
The present value of the sales transaction, which Song Corp. contracted with a customer is $79,719. This is the amount that would have the future value of $100,000.00 for the note receivable from the customer, with an effective interest rate of 12% per annum after 2 years.
The difference between the future value of $100,000 and the present value of $79,719 represents the interest cost, which the customer bears for the note receivable.
However, it is important to stress that this difference is not described as a "Discount on Note Receivable" as depicted in this question, but as an "Interest on Note Receivable." A discount on note receivable would have had a debit balance.
Adirondack Marketing Inc. manufactures two products, A and B. Presently, the company uses a single plantwide factory overhead rate for allocating overhead to products. However, management is considering moving to a multiple department rate system for allocating overhead. Overhead Total Direct Labor Hours DLH per Product A B Painting Dept. $241,200 11,300 2 11 Finishing Dept. 60,900 11,800 3 3 Totals $302,100 23,100 5 14 The single plantwide factory overhead rate for Adirondack Marketing Inc. is
Answer:
Predetermined manufacturing overhead rate= $17,115.80
Explanation:
Giving the following information:
Overhead Total Direct Labor Hours DLH per Product A B
Painting Dept. $241,200 11,300 2 11
Finishing Dept. 60,900 11,800 3 3
Totals $302,100 23,100 5 14
To calculate the predetermined manufacturing overhead rate we need to use the following formula:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Total direct labor hours= 5 + 14= 19
Total overhead= 302,100 + 23,100= $325,200
Predetermined manufacturing overhead rate= 325,200/19
Predetermined manufacturing overhead rate= $17,115.80
On behalf of Bobble Head Manufacturing Company, Carmela types her name at the bottom of an e-mail purchase order and submits the order to Designer Parts Company. Under the UETA, Carmela’s typed name qualifies as Group of answer choices
Answer:
A signature.
Explanation:
On behalf of Bobble Head Manufacturing Company, Carmela types her name at the bottom of an e-mail purchase order and submits the order to Designer Parts Company. Under the UETA, Carmela’s typed name qualifies as signature.
Pat is a rich boy whose parents supply him with every conceivable necessity of life. While still a minor, Pat buys a coat on credit from a men's store for $5,000. After wearing the coat for a while, Pat decides that it bores him and that he would like to disaffirm. Which of the following is most likely to be true? Assume that Pat is still a minor.
A. Pat can disaffirm the contract, but the store will sue him for deceit.
B. Pat cannot disaffirm the contract, and he is liable for the full price of the coat ($5,000).
C. Pat cannot disaffirm the contract, but he is liable only for the reasonable value of the coat.
D. Pat can disaffirm the contract, and he must return the coat.
Answer:
A
Explanation:
Generally speaking, a minor may disaffirm a contract at any time during minority or for a reasonable time after the minor comes of age. When a minor disaffirms a contract, all property that he or she has transferred as consideration can be recovered -- even if it was subsequently transferred to a third party. But to say something is disaffirm is to say it never exsited so therefore the store would be able to sue.
Jen is investing in a partnership with Lisa. Jen contributes equipment that originally cost $65,000, has accumulated depreciation of $20,000, thus giving it a book value of $45,000, and has a fair value of $52,000. The entry to record Jen’s initial contribution to the partnership includes a
Answer:
Debit to equipment for $52000
Explanation:
Based on the information given we were told that Jen had a fair value of the amount of $52,000. This means that the Journal entry to record the initial contribution to the partnership will tend to include a DEBIT TO EQUIPMENT FOR THE AMOUNT OF $52,000 which is the fair value amount.
Debit to equipment for $52,000
2. Demand for Riana's product in the U.S. is inconsistent. When orders are slow, she sometimes needs to shut down production to help control inventory levels. One way Riana could improve her firm's situation is to
Answer:
One very feasible solution to Rianas business challenge is to explore and take advantage of other markets outside of the United States of America.
Explanation:
In other words, she needs to come up with a business strategy that includes exportation of her products.
The target market(s) must be carefully analyzed for ease of entry, competition, etc. She must be able to accurately distinguish her products in those markets.
When entering new terrains as an exporter, it is usually better to look for markets with higher:
Ease of entryEase of doing businessEase of communication etc.Desk research alone will not suffice. Riana must try to visit the country she is planning to expand into. Next, her pricing, product positioning etc must be flawless. It will help Riana to also seek help from a business growth consultant who knows the new terrain very well.
Cheers!
Apple Inc. is the number one online music retailer through its iTunes music store. Apple sells iTunes gift cards in $15, $25, and $50 increments. Assume Apple sells $19.2 million in iTunes gift cards in November, and customers redeem $12.2 million of the gift cards in December.
Required:
1. Record the receipt of cash for gift cards.
2. Record the revenue earned from redemption of gift cards.
3. What is the ending balance in Deferred revenue?
Answer and Explanation:
The Journal entries are shown below:-
1. Cash Dr, $19,200,000
To Deferred revenue $19,800,000
(Being receipt of cash for gift cards is recorded)
2. Deferred revenue Dr, $12,200,000
To Sales revenue $12,800,000
(Being revenue recognized from the redemption of gift cards is recorded)
3. The computation of ending balance in Deferred revenue is shown below:-
Ending balance in Deferred revenue = Sold apples - Redeem amount of the gifts
= $19,200,000 - $12,200,000
= $7,000,000
" Like any effective salesperson, Frazer walks into a customer's office, shakes hands, looks the customer in the eye, and smiles. After exchanging pleasantries, Frazer will try to create interest his company's product, and establish: Group of answer choices"
Answer:
Hello the answer choices are missing but here is general answer to your question
answer : Frazer will try to create interest in his company's product and establish trust
Explanation:
Frazer been a salesperson is charged with making and closing good deals with potential and returning customers which will in return generate revenue for his company. Frazer will try to create an interest in his company's product and he can do this by asking the customer some questions and using the answers pertaining the product he is about to present to the customer to create a proper presentation. that way he can be able to present the product properly thereby getting the customer's interest and establishing trust
Mitchell Corporation manufactures a single product. The selling price is $85 per unit, and variable costs amount to $68 per unit. The fixed costs are $16,500 per month. What will be the monthly margin of safety (in dollars) if 1,800 units are sold each month
Answer: $ 70,500
Explanation:
Given, Number of units = 1800
Per unit selling price = $85
Total Sales price = (Number of units ) x (Per unit selling price)
= 1800 x $ 85
= $153,000
Variable cost per unit = $68
Total variable cost = 1800 x $68 = $122,400
Contribution Margin = (Sales price ) - (Variable cost)
= $ (153000-122400)
= $30,600
Fixed cost = $16,500 per month
Profit = (Contribution Margin) - (Fixed cost)
= $(30,600-16,500)
= $14,100
PV ratio = (Contribution Margin) ÷ (Total sales) x 100%
= $ (30,600÷153,000)x 100%
=20%
Margin of Safety = (profit) ÷ (PV ratio)
= ($14,100) ÷ (20%)
= ($14,100) ÷ (0.20)
= $ 70,500
Hence, the monthly margin of safety = $ 70,500
Mauve Inc. purchased a global data collection and management system that provides detailed information about each of its customers. Using this information, Mauve is able to identify the individual needs of all its customers and provide tailored products and services. This scenario illustrates the concept of:
Answer:
Mass customization
Explanation:
Mass customization can be defined as the way in which a company or an individual produce large or mass amount of product that meet their customers wants and needs and this is happen when the company or the organisation identify the individual needs of all their customers and provide tailored products and services thereby offering the customers a range of features they can either add or subtract.
Therefore In MASS CUSTOMIZATION it is important for the company or organisation to focus on developing variety of unique mass products that will satisfy their customers needs and by doing this it will lead to higher or greater retention of their customers reason been that the products have options which are tailored to personal tastes of the customers .
Hung and Suzanne’s company has instituted a new volunteering program where more experienced employees mentor the youngest employees, many of whom are fresh from college or internships. Hung signs up, but Suzanne does not. A few months later, how does Hung likely feel about having become a volunteer?
Answer: E) She feels more engaged in the company and in her primary role.
had to complete the question.
A) She enjoys it, but her colleagues think she is kissing up to the management.
B) She feels resentful, since she is essentially working for free.
C) She likes it but feels her mentees take advantage of her time, becoming a distraction.
D) She likes it but finds the extra time commitment a major problem.
E) She feels more engaged in the company and in her primary role.
Explanation: since she has taken up the companys new volunteering scheme/ programme after a few months Hung would feel more engaged in the company and in her primary role. This is so becau Hung has succed to pass down her knowledge and experience through the program to young interns who are new to the job world and lack the technical know how to perform such task and duties.
Which of the following real estate investments were involves purchasing real estate and charging a monthly fee for use of your space
Answer:
when you flip you buy at a low price, fix it up then sell at a higher price for profit. usually in less than 6 months.
A free rider is a(n) Group of answer choices interest group that files an amicus curiae brief. person who enjoys the benefits of a collective good, action, or service without any effort on their part. a person who receives the services distributed by a monopoly. member of a public interest group.
Answer: Person who enjoys the benefits of a collective good, action, or service without any effort on their part.
Explanation:
In Economics, Free riders are people who benefit from resources and/or goods that are communal in nature and yet either do not pay or pay an insubordinate amount for enjoying same. Essentially they enjoy the benefits of a collective good without any effort on their part.
As a result, the good might become overused and degraded as it is not being maintained enough.
By what method did the Securities and Exchange Commission try to reform the stock market in the 1930s? Nationalizing the New York Stock Exchange Distributing stocks to all unemployed Americans Monitoring all stock transactions Establishing mandatory sentences for traders convicted of fraud.
Answer:
Monitoring all stock transactions
Explanation:
The Securities and Exchange Commission (SEC) is a U.S. regulatory institution responsible for safeguarding resources and the investors, regulating the stock market, and developing and implementing federal securities legislation. The commission was the result of inquiring the cause of the Great Depression and prevent such events in the future. The Securities Act was designed to help deter fraud in securities and provided that investors must provide accurate financial information.
With the impending retirements of very talented senior staff, Katherine was concerned that PTO Inc., her employer, was not planning for the future. Spurred on by her concern, Katherine convinced management to budget and build a knowledge management system to create, acquire, store, and transfer knowledge in order to modify PTO's behavior to reflect new knowledge and insights. Two years later, Katherine was proud to reflect on her success in helping the company become a(n) ________ organization.
Answer:
Learning.
Explanation:
Since the very talented senior staff would be retiring soon, Katherine was concerned that PTO Inc., her employer, was not planning for the future. Spurred on by her concern, Katherine convinced management to budget and build a knowledge management system to create, acquire, store, and transfer knowledge in order to modify PTO's behavior to reflect new knowledge and insights.
Two years later, Katherine was proud to reflect on her success in helping the company become a learning organization.
A learning organization is an organization that acquires knowledge very quickly or rapidly, so it can be innovative and have a competitive advantage over other organizations in the same industry. It is characterized by the rapid acquisition, sharing, and use of information by its employees.