Answer and Explanation:
The classification is as follows;
1. Since kenji has the amount of $1,537 in his checking account that means he have the storing of the value as the amount has been stored
2 Since kenji writes the check of amount $1,299 that means it is the medium of exchange
3 And, in the last case in which the computer price is greater than the vacation price so it is the unit of account as here the comparsion is to be made
What is expansionary policy used for?
Answer:
to stimulate an economy
Explanation:
it stimulates the economy by boosting demand through monetary
Complete each of the following contribution format income statements by supplying the missing numbers.
a. b. c. d.
Sales revenue $ $485,168 $ $686,356
Variable expenses 232,804 102,728
Contribution margin 130,532 171,860 430,808
Fixed expenses 87,912 146,396
Operating income 21,597
Income taxes 25,184 21,532 60,859
Net income $15,118 $
$64,596 $182,577
Answer and Explanation:
The missing amount is as follows:
a.
Sales revenue = Variable expense + contribution margin
= $232,804 + $130,532
= $363,336
Fixed expense = Contribution margin - operating income
= $130,532 - $21,597
= $108,935
Income tax = OPerating income - net income
= $21,597 - $15,118
= $6,479
b.
Variable expesne = sales revenue - contribution margin
= $485,168 - $171,860
= $313,308
Operating income = contribution margin - fixed expense
= $171,860 - $87,912
= $83,948
Net income = operating income - income tax
= $83,948 - $25,184
= $58,764
c.
Operating income = income tax + net income
= $21,532 + $64,596
= $86,128
Contribution margin = Fixed expense + operating income
= $146,396 + $86,127
= $232,524
Sales revenue = variable expense + contribution margin
= $102,728 + $232,524
= $335,252
d.
Variable expense = sales revenue - contribution margin
= $686,356 - $430,808
= $255,548
Operating income = income tax + net income
= $60,859 + $182,577
= $243,436
Fixed expense = Contribution margin- operating income
= $430,808 - $243,436
= $187,372
,
If the government of Balancia runs a deficit of $50 million per year in Year 1 and in Year 2 due to its recession, but then has a $100 million surplus in Year 3 due to strong economic recovery, Balancia is likely following which type of rule?
Answer:
Cyclically balanced budget
Explanation:
Heinz Company began operations on January 1, 2020, and uses the FIFO method in costing its raw material inventory. Management is contemplating a change to the LIFO method and is interested in determining what effect such a change will have on net income. Accordingly, the following information has been developed:
Final Inventory
2017 2018
FIFO $640,000 $712,000
LIFO $560,000 $636,000
Net Income
(computed under the FIFO method) $980,000 $1,030,000
Based on the above information, a change to the LIFO method in 2020 would result in net income for 2018 of ________.
a. $1,070,000
b. $1,030,000
c. $954,000
d. $950,000
Answer: $954,000
Explanation:
Thw difference in the final inventory between the FIFO and the LIFO method in 2018 will be:
= $712,000 - $636,000
= $76,000
Then, based on the above information, a change to the LIFO method in 2018 would result in net income for 2018 of:
Net income as per FIFO = $1,030,000
Less: Decrease in income = $76,000
Net income as per LIFO = $954,000
Kuley owns two investments, A and B, that have a combined total value of $73.600. Investment A is expected to pay $53,000 in 5 years from today and has an expected return of 8.41 percent per year. Investment B is expected to pay $61,400 in 8 years from today and has an expected return of R per year. What is R, the expected annual return for investment B
Solution :
The present value is given by :
[tex]$PV = \frac{FV}{(1+r)^n}$[/tex]
Here r = interest rate per period
n = number of periods
Particulars Amount
Future value $ 53,000
Interest rate 8.41%
Periods 5
The present value is :
[tex]$PV = \frac{FV}{(1+r)^n}$[/tex]
[tex]$ = \frac{53,000}{(1+0.0841)^5}$[/tex]
[tex]$=\frac{53000}{1.4974}$[/tex]
= $ 35,393.96
Therefore, the value of investment A is $ 35,393.96
The value of investment of B = Combined value - value of A
= $ 73600 - $ 35393.96
= $ 38,206.04
The Future Value
[tex]$FV=PV \times (1+r)^n$[/tex]
Particulars Amount
Present value $ 38,206.04
Future value $ 61,400
Periods 8
Therefore, the future value is :
[tex]$FV=PV \times (1+r)^n$[/tex]
[tex]$61,400=38,206.04 \times (1+r)^8$[/tex]
[tex]$(1+r)^8 = \frac{61400}{38206.04}$[/tex]
[tex]$(1+r)^8 = 1.6071$[/tex]
(1 + r) = 1.061096
r = 1.061096 - 1
r = 0.061096
r = 6.1096 %
Therefore, the interest rate per annum is 6.1096%
Marketing communication
Answer:
yes
Explanation:
It's popular!
The Freeman Corporation issues 2,000, 10-year, 8%, $1,000 bonds dated January 1 at 96. The journal entry to record the issuance will show a:___.
a. debit to Cash of $2,000,000.
b. credit to Discount on Bonds Payable for $80,000.
c. credit to Bonds Payable for $1,920,000.
d. debit to Cash for $1,920,000.
Answer:
d. debit to Cash for $1,920,000
Explanation:
Journal entry
Date Account titles and Explanation Debit Credit
Cash $1,920,000
(2,000*$1,000*0.96)
Discount on Bonds Payable $80,000
(2,000*$1,000*0.04)
Bonds Payable $2,000,000
What was the result in the Lucy v. Zehmer case (referenced in the textbook) involving whether allegations of joking regarding the sale of land prevented the formation of a contract
Answer:
The Supreme Court ruled in favour of the Complainants, enforcing the contract.
Explanation:
The Lucy Vs Zehmer case was one of decision on if a contract was binding or not on the basis of the undisclosed intentions of the parties involved in the contract. Zehmer alleged that he had jokingly sold and transferred title to Lucy while drunk. However the court ruled that contract for the sale of land to Lucy was valid on the basis that the secret intentions of Zehmer was not known or disclosed in the sale of the land and only his actions count for the contract to be binding.
Which of the following statements is an example of wording that might be included in an
informative advertisement?
a. Machine washable
b. The route to good health
c. Used by the "Whatsit" pop group
d. To keep you young and beautiful
Answer:
a. Machine washable
Explanation:
An informative advertisement is an advert focused on being fact based, unbiassed and accurate. An advert is of the informative form, when it only makes reference to the attributes, advantages, and the tasks the service or goods can do well, in place of making use of emotions to persuade a consumer into purchasing a commodity
From the given options, the statement which is an example of wording that might be included in an informative advertisement is option a. 'Machine washable', because it refers to the strength of the goods which as stated, can be washed with a washing machine
15. Assume that Bullen issued 12,000 shares of common stock, with a $5 par value and a $47 fair value, to obtain all of Vicker's outstanding stock. In this acquisition transaction, how much goodwill should be recognized
Answer:
$104,000
Explanation:
Note: The full question is attached as picture below
Fair value of net assets = Cash and receivables + Inventory + Land + Buildings (net) + Equipment (net) - Liabilities
Fair value of net assets = $70,000 + 210,000 + 240,000 + 270,000 + 90,000 - 420,000
Fair value of net assets = $460,000
Purchase consideration paid = 12,000*$47
Purchase consideration paid = $564,000
Goodwill recognized = Purchase consideration - Fair value of net assets
Goodwill recognized = $564,000 - $460,000
Goodwill recognized = $104,000
A company reports the following income statement and balance sheet information for the current year:
Net income $424,000 Interest expense 80,000 Average total assets 4,200,000
Determine the return on total assets. (Round percentages to one decimal place.)
______%
Answer:
10.1%
Explanation:
Given the above information, return on total asset is computed as;
Return on total asset = Net income / Average total assets
Net income = $24,000
Average total assets = $4,200,000
Therefore,
Return on total assets = $424,000 / $4,200,000
Return on total assets = 10.1%
Answer:
10.1%
Explanation:
Determine the return on total assets. (Round percentages to one decimal place.) 10.1%
A rookie quarterback is in the process of negotiating his first contract. The team's general manager has offered him three possible contracts. Each contract lasts for four years. All of the money is guaranteed and is paid at the end of each year. The payment terms of the contracts are as follows:
(dollars in millions)
Year Contract 1 Contract 2 Contract 3
1 $1.50 1.0 3.5
2 $1.50 1.5 0.5
3 $1.50 2 0.5
4 $1.50 2.5 0.5
The quarterback discounts all the cash flows at 12%. Which of the three contracts offers the most value? (Hint: Calculate the present value of future cash flows)
Answer:
Contract 2 offers the most value.
Explanation:
a) Data and Calculations:
Payment terms of the contracts:
(dollars in millions)
Year Contract 1 Contract 2 Contract 3
1 $1.50 1.0 3.5
2 $1.50 1.5 0.5
3 $1.50 2 0.5
4 $1.50 2.5 0.5
Discount rate = 12%
Present value of Contract 1:
PV annuity factor at 12% for 4 years = 3.037
PV annuity of $1.50 = $1.50 * 3.037 = $4.5555 or $4,555,500
Present value of Contract 2:
$1.0 * 0.893 = $0.893
$1.5 * 0.797 = 1.1955
$2 * 0.712 = 1.424
$2.5 * 0.636 = 1.59
Total = $5.1025 or $5,102,500
Present value of Contract 3:
$3.5 * 0.893 = $3.1255
$0.5 * 0.797 = 0.3985
$0.5 * 0.712 = 0.356
$0.5 * 0.636 = 0.318
Total = $4.198 million or $4,198,000
The following information describes a company's usage of direct labor in a recent period! Actual Hours Used 22000Actual Rate per Hour 15Standard Rate per Hour 14 Standard Hours for Units Produced 23500The direct labor RATE variance is:__________. A. $21,000 Favorable B. $21,000 Unfavorable C. $22,000 Favorable D. $22,000 Unfavorable E. $23,500 Unfavorable The direct labor EFFICIENCY variance is:_______. A. $21,000 Favorable B. $21,000 Unfavorable C. $22,000 Favorable D. $22,000 Unfavorable E. $23,500 Unfavorable
Answer:
Results are below.
Explanation:
Giving the following information:
Actual Hours Used 22,000
Actual Rate per Hour 15
Standard Rate per Hour 14
Standard Hours for Units Produced 23,500
To calculate the direct labor rate and efficiency variance, we need to use the following formulas:
Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity
Direct labor rate variance= (14 - 15)*22,000
Direct labor rate variance= $22,000 unfavorable
Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate
Direct labor time (efficiency) variance= (23,500 - 22,000)*14
Direct labor time (efficiency) variance= $21,000 favorable
Monte Motors sells two different products. Following are the monthly revenues and costs. Product A Sales Quantity: 10,000 units Sales Price per Unit: $6.00 Variable Costs per Unit: $1.25 Product B Sales Quantity: 30,000 Units Sales Price per Unit: $2.50 Variable Costs per Unit: $0.75 Total fixed costs are $200,000. What is the break-even point for this company in units
Answer:
80,000 units
Explanation:
First, calculate the contribution margin of both products using the following formula
Contribution margin = Selling Price - Variable cost
Product A
CM = $6 - $1.25 = $4.75
Product B
CM = $2.5 - $0.75 = $1.75
Now calculate the Weighted average contribution margin
Weighted average contribution margin = ( $4.75 x 10,000 / ( 10,000 + 30,000 ) ) + ( $1.75 x 30,000 / ( 10,000 + 30,000 ) ) = $1.1875 + $1.3125 = $2.50
Use the following formula to calculate the breakeven point in unit
Breakeven point in unit = Fixed Cost / Weighted average contribution margin = $200,000 / $2.50 = 80,000 units
Identify a chart of accounts, using correct headings from the list of account titles below: Account Titles Chart of Accounts Accounts Payable Accounts Receivable Building Cash Equipment Insurance Expense Prepaid Insurance Rent Expense Service Fees Dunlop, Capital Dunlop, Drawing Supplies Wage Expense Wages Payable
Answer:
The question wants the given accounts to be grouped by what type of account they are. For instance, Accounts Payable is a liability.
Liabilities:
Accounts Payable Wages payableAssets
Accounts Receivable Building Cash Equipment Prepaid Insurance SuppliesExpenses
Insurance expense Rent expense Wage expenseRevenue
Service feesOwner's Equity
Dunlop, CapitalDunlop, DrawingWhich of the following is an example of government expenditure on goods and services? A. The purchase of office supplies for the office of the junior senator from New York B. The salaries paid to Washington correspondents from major networks and newspapers C. All expenditure by lobbyists D. Welfare payments
Answer:
D
Explanation:
g Because the monopolist is the only firm in the market, its demand curve Group of answer choices upward-sloping Vertical Flat. downward-sloping. Flag question: Question 2
Answer:
downward-sloping
Explanation:
Decker Enterprises Below are the simplified current and projected financial statements for Decker Enterprises. All of Decker's assets are operating assets. All of Decker's current liabilities are operating liabilities. Income statement Current Projected Sales na 1,500 Costs na 1,050 Profit before tax na 450 Taxes na 135 Net income na 315 Dividends na 95 Balance sheets Current Projected Current Projected Current assets 100 115 Current liabilities 70 81 Net fixed assets 1,200 1,440 Long-term debt 300 360 Common stock 500 500 Retained earnings 430 650 If Decker had a financing surplus, it could remedy the situation by a. reducing its dividend. b. borrowing on its line of credit. c. borrowing from its retained earnings d. paying a special dividend e. issuing more common stock.
Answer:
Decker Enterprises
If Decker had a financing surplus, it could remedy the situation by
d. paying a special dividend
Explanation:
a) Data and Calculations:
Income statement
Current Projected
Sales na 1,500
Costs na 1,050
Profit before tax na 450
Taxes na 135
Net income na 315
Dividends na 95
Retained earnings na 220
Balance sheets
Current Projected Current Projected
Current assets 100 115 Current liabilities 70 81
Net fixed assets 1,200 1,440 Long-term debt 300 360
Common stock 500 500
Retained earnings 430 650
Total $1,300 $1,555 Total $1,300 $1,591
At the beginning of 20X1, a company issues 100,000 shares of 4%, $10 par value, cumulative preferred stock. All remaining shares outstanding are common stock. The company does not pay any dividends in 20X1, but pays dividends of $100,000 at the end of 20X2. How much of the dividend will be paid to common stockholders in 20X2?
a. $20,000.
B. $100,000.
C. $80,000.
D. $60,000.
Answer:
a. $20,000.
Explanation:
The computation of the dividend that will be paid to common stockholders in 20X2 is shown below:
= $100,000 - ($100,000 × 10 × 4% × 2 years)
= $100,000 - $80,000
= $20,000
Hence, the dividend that will be paid to common stockholders in 20X2 is $20,000
Therefore the option a is correct
If a country changes its corporate tax laws so that domestic businesses build and manage more business in other countries, then the net capital outflow of that country Group of answer choices
Answer: falls and the net capital outflow of other countries rise
Explanation:
Net capital outflow refers to the net flow of funds that's invested abroad by a particular country at a particular period. It should be noted that a positive net capital flow simply means that such country invests more outside more than than what the other parts of the world invests in it.
Given the question above, since the country changes its corporate tax laws so that domestic businesses build and manage more business in other countries, it means that the net capital outflow of that country falls and the net capital outflow of other countries rise.
f a business has fixed costs of $1k a month, variable costs of $1k a month and has product sales of $2k a month, what statement is a correct analysis of the situation
Answer:
The correct option is b. The business is realizing $0 profit and the business is at break-even point.
Explanation:
Note: This question is not complete. The complete question is therefore provided before answering the question as follows:
If a business has fixed costs of $1k a month, variable costs of $1k a month and has product sales of $2k a month, what statement is a correct analysis of the situation?
a. The business is realizing $2k profit and the business is at break-even point
b. The business is realizing $0 profit and the business is at break-even point
c. The business is realizing $2k loss and the business is at break-even point
d. The business is realizing $2k profit
The explanation of the answer is now provided as follows:
Total cost = Fixed cost + Variable cost = $1K + $1K = $2k
Total revenue = Product sales = $2k
Profit = Total revenue - Total cost = $2k - $2k = $0
When a business makes $0 profit, it implies that the business is at break-even point.
Therefore, the correct option is b. The business is realizing $0 profit and the business is at break-even point.
A firm has an equity beta of 1.2, the risk-free rate is 3.4 percent, the market return is 15.7 percent, and the pretax cost of debt is 9.4 percent. The debt-equity ratio is .47. If you apply the common beta assumptions, what is the firm's asset beta
Answer:
0.82
Explanation:
Calculation to determine the firm's asset beta
Using this formula
Firm's asset beta=Equity beta/(1+/D/E)
Let plug in the formula
Firm's asset beta=1.2/(1+0.47)
Firm's asset beta=1.2/1.47
Firm's asset beta=0.816
Firm's asset beta=0.82 (Approximately)
Therefore the firm's asset beta is 0.82
At December 31, 2018, Oriole Company reported the following information on its balance sheet.
Accounts receivable $948,000
Less: Allowance for doubtful accounts 78,000
During 2019, the company had the following transactions related to receivables.
1. Sales on account $3,609,930
2. Sales returns and allowances 51,000
3. Collections of accounts receivable 2,756,000
4. Write-offs of accounts receivable deemed uncollectible 97,000
5. Recovery of bad debts previously written off as uncollectible 28,000
Compute the accounts receivable turnover for 2019, assuming the expected bad debt information provided in (c). (Round answer to 2 decimal places, e.g. 25.25.)
Answer:
Bad debt expense (Dr.) $68,930
Allowance for Doubtful Debt (Cr.) $68,930
Explanation:
Accounts Receivable :
Balance $948,000
Add: Sales $3,609,930
Less: Sales returns $51,000
Less: Collections $2,756,000
Less: Write offs $97,000
Add: Recovery of old Bad debts $28,000
Adjusted Balance $1,653,930
Bad Debts :
Balance $78,000
Less: Allowance for doubtful debts $97,000
Less: Recovery $28,000
Adjusted Balance $9,000
monthly deposits are made into an account paying % nominal interest compounded monthly. If the objective of these deposits is to accumulate $ by the end of the year, what is the amount of each deposit?
Answer:
$1433.28
Explanation:
Calculation to determine the amount of each deposit
Using this formula
Future value of annuity=P*((1+r)^n-1)
Where,
Annual interest rate = 6%
Monthly interest rate (r) = 0.5%
Future value of annuity = $100,000
Number of years = 5
Number of deposits (n) = 60
Let plug in the formula
$100,000=P*((1+0.005)^60/0.005
=$100,000/69.77
=P$1433.28
Therefore the amount of each deposit is =$1433.28
James mortgaged his house and received a certain amount of money in return as a loan. However, he repaid half the loan in six months. Which of the following is likely to be true in this scenario, at the present moment?
A) The mortgagee has an insurable interest towards 25 percent of the loan amount.
B) The mortgagee has an insurable interest towards the entire loan amount.
C) The mortgagee does not have an insurable interest in the loan amount.
D) The mortgagee has an insurable interest towards half the loan amount.
Answer:B
Explanation:
Preppy Co. makes and sells a single product. The current selling price is $30 per unit. Variable costs are $21 per unit, and fixed expenses total $90,000 per month. Sales volume for July totaled 12,000 units.
Required:
a. Calculate the operating income for July.
b. Calculate the break-even point in units sold and total revenues.
Answer and Explanation:
The computation is shown below:
(a)
Sales = 30 × 12,000 units = $360,000
(Less) variable costs = 21 × 12,000 units = $252,000
(Less) fixed costs = $90,000
Operating income = $18,000
(b)
Break even point in units be X
X × 30 = X × 21 + $90,000
9X = $90,000
X = 10,000 units
Now
Break even point in dollars is
= 10,000 × $30
= $300,000
The journal entry to record the issuance of a note for the purpose of converting an existing account payable would be:_______
a. debit Cash; credit Accounts Payable
b. debit Accounts Payable; credit Cash
c. debit Cash; credit Notes Payable
d. debit Accounts Payable; credit Notes Payable
The BRS Corporation makes collections on sales according to the following schedule:45% in month of sale50% in month following sale5% in second month following saleThe following sales have been budgeted:Sales April $ 160,000May $ 180,000June $ 170,000Budgeted cash collections in June would be:___________a) $170,800b) $166,500c) $170,000d) $174,500
Answer:
$170,500
Explanation:
Calculation to determine what the Budgeted cash collections in June would be
Cash collections for June:March credit sales collected in June ($160,000 × 45%)$72,000
February credit sales collected in June ($180,000 × 50%) $90,000
January credit sales collected in June ($170,000 × 5%) $8,500
Total cash collections in June $170,500
Therefore the Budgeted cash collections in June would be:$170,500
Leone Corporation sells a product for $21 per unit, and the standard cost card for the product shows the following costs Direct material $2 Direct labor 3 Overhead (70% fixed) 10 Total $15 Refer to Leone Corporation. Leone received a special order for 1,200 units of the product. The only additional cost to Leone would be foreign import taxes of $2 per unit. If Leone is able to sell all of the current production domestically, what would be the minimum sales price that Leone would consider for this special order
Answer:
the minimum sales price that Leone would consider for this special order is $23 per unit
Explanation:
The computation of the minimum sales price that Leone would consider for this special order is shown below;
= Selling price per unit + direct material per unit
= $21 per unit + 2 per unit
= $23 per unit
Hence, the minimum sales price that Leone would consider for this special order is $23 per unit
_________ used ingredient branding, which resulted in end consumers requiring that their product be included by the OEM’s.
Answer:
Intel
Explanation:
Marketing can be defined as the process of developing promotional techniques and sales strategies by a firm, so as to enhance the availability of goods and services to meet the needs of the end users or consumers through advertising and market research. Thus, it comprises of all the activities such as, identifying, anticipating set of medium and processes for creating, promoting, delivering, and exchanging goods and services that has value for customers. It typically, involves understanding customer needs, building and maintaining healthy relationships with them in order to scale up your business.
Ingredient branding can be defined as a strategic marketing plan or technique which typically involves branding a component of a business firm or organization as a separate entity so as to project its high performance and quality.
Intel is a multinational corporation (MNC) that uses ingredient branding such as "Intel inside", which stimulate end consumers to request that Intel's product such as processors be included by the original equipment manufacturers (OEM's).