Answer:
Jackie owns the property until Maria dies
Explanation:
In this specific scenario, Jackie owns the property until Maria dies. That is because, in common law and statutory law, a life estate also known as life tenancy is defined as the ownership of land for the duration of a person's life. Therefore since Mike granted life estate to Maria and not Jackie, the land is legally Maria's to do as she wishes up until the moment of her death. Once this comes to pass the land ownership is returned to Mike.
how to calculagte this answer- A buyer is getting a fully amortized loan for $220,000. The bank will give the buyer the loan for 15 years at 5 1/2% or for 30 years at 6 1/2%. To the nearest dollar, what is the difference between the monthly payments for these two loans?
Answer: $409.20
Explanation:
given;
loan amount = $220,000
loan option 1 = 15 years at 5.5%
loan option 2 = 30 years at 6.5%
solution:
1. monthly payment for loan 1.
$220,000/$1000 = 220
15 years at 5.5% = $8.18 * 220
= $1799.60
2. monthly payments for loan 2.
30 years at 6.5% = $6.32 * 220
= $1390.40
difference between both monthly payments.
loan option 1 monthly payment - loan Option 2 monthly payment
= $1799.60 - $1390.40
= $409.20
The difference between the monthly payments for these two loans is $409.20
The calculation is as follows:monthly payment for loan 1.
$220,000 ÷ $1000 = 220
15 years at 5.5% = $8.18 × 220
= $1799.60
2. monthly payments for loan 2.
30 years at 6.5% = $6.32 × 220
= $1390.40
difference between both monthly payments.
= loan option 1 monthly payment - loan Option 2 monthly payment
= $1799.60 - $1390.40
= $409.20
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Q-mart failed to include inventory that was kept in a separate warehouse in its 12/31 end-of-the-period inventory count. Consequently, the ending inventory on 12/31 was understated on the balance sheet. Explain how this error will effect the income statement. (Check all that apply.)
Answer:
If the ending inventory was understated, that means that the cost of goods sold will be overstated. If the cost of goods sold was overstated, then net profits were understated.
Explanation:
Imagine a company that sells shoes:
It bought 100 shoes at $100 each during the whole year and their ending inventory was 10 units. This means that cost of goods sold was (100 - 10) x $100 = $9,000. But someone discovered 5 pairs in some shelf that were not included in the ending inventory, then the real ending inventory was 15 units = $1,500 and not $1,000. That also means that the cost of goods sold was $8,500, not $9,000. Lower costs = higher profits.
Answer:
Explanation:
The current year's cost of goods will be too high
The current year's income will be too low
How is a cost-leader protected from threats from powerful suppliers? It is able to create a significant difference between perceived value and current market prices. It is more able to absorb price increases through generating higher profit margins. It is able to create a significant difference between actual value and future market prices. It is more able to absorb price increases through accepting lower profit margins.
Answer:
Option B (By embracing lower operating costs it's much more likely to handle price rises) is the correct choice.
Explanation:
Cost management or leadership seems to be an organizational practice introduced by Michael Porter. This helps build organizational competitive benefits. Price leadership relates to supplying the market with the cheapest operating costs, which varies from the pricing strategy. Sometimes it is driven by performance, size, complexity, reach, infrastructure as well as the perspective of the organization.Some other options given should not be concerning the condition in question. And the correct response would be alternative B.
A person offers you the following deal. You can have the proceeds of $2 doubled each year at the end of 15 years, or you can have $10,000 at the end of 15 years. Which deal should you take? Why?
Answer:
The deal I would take is the first deal.
Explanation:
I would take the first deal because as it's getting doubled by the number after the fourth year you would make $65,536 which is way more money then $10,000 at the end of 15 years.
Suppose a competitive firm pays a wage of $12 an hour and sells its product at $3 per unit. Assume that labor is the only input. If hiring another worker would increase output by five units per hour, then to maximize profits the firm should Group of answer choices
Answer:
The answer is 'hire the additional worker'
Explanation:
The firm should hire the additional worker.
An organization should hire additional workers to increase its profits if the marginal revenue product of labor is more than the wage rate.
Let's do the calculation:
The firm sells the product at $3
And hiring another product will increase the output by 5units
The total cost will be 3 x 5
= $15
And the firm pays the labour $13 for producing the 5 units.
The gain is $2 ($15 - $13).
Therefore, the firm should hire the additional worker.
Carolina, the accountant for Duke Manufacturing, tells her friend, Jacob, who works in customer service for Duke, that she is writing journal entries to transfer costs to products. Carolina is referring to the
Answer:
cost allocation process
Explanation:
Cost allocation process is the process of identifying and allocating cost to products. These products in which the cost are assigned are products in which they want to measure how much was spent to produce the product and the profit incurred form that product. Normally cost allocation process is based on approximations, it can only be done to be as close as possible to the incurred cost
The common stock of Dayton Dry Goods has historically had a low dividend yield that is expected to continue. As a result, the majority of its shareholders are individuals who prefer capital gains over cash dividends for tax reasons. The fact that most of these shareholders have similar characteristics is referred to by which one of the following terms?
A. Market reaction effect
B. Clientele effect
C. Distribution effect
D. Investor effect Information content effect
Answer: clientele effect
Explanation:
When stock prices moves up according to the investors goals and demands it is known as the Clientele effect. They are affected through tax, or other policies and this would affect the shares casuing the stock price to move either up or down.
Paradise Travels is an all-equity firm that has 6,000 shares of stock outstanding at a market price of $34 a share. The firm's management has decided to issue $40,000 worth of debt and use the funds to repurchase shares of the outstanding stock. The interest rate on the debt will be 7 percent. What are the earnings per share at the break-even level of earnings before interest and taxes? Ignore taxes.
Answer:
$2.38
Explanation:
Number of shares purchased
= $40,000 / $34
= $1,176
EBIT / 6,000 = [EBIT - ($40,000 * 0.07)] / (6,000 - 1176)
EBIT / 6,000 = (EBIT - $2,800) / 4,824
4,824 EBIT = 6000 EBIT - $16,800,000
1,176 EBIT = $16,800,000
EBIT = $14,285.71
Earning per Shares at Break-even level of earning
= [EBIT - ($40,000 * 0.07)] / (6,000 - 1,176)
= ($14,285.71 - $2,800) / 4,824
= $11,485.71 / 4,824
= $2.38
Suppose that foreigners had reduced confidence in U.S. financial institutions and believed that privately issued U.S. bonds were more likely to be defaulted on. U.S. net exports would a. rise which by itself would increase aggregate demand. b. rise which by itself would decrease aggregate demand. c. fall which by itself would decrease aggregate demand. d. fall which by itself would increase aggregate demand.
Answer:
Option C, fall which by itself would decrease aggregate demand, is the right answer.
Explanation:
Option C is correct because the reduction in the confidence level in U.S financial institutions will decrease the U.S net export. Moreover, if the foreigner feels insecure about the U.S bonds then this insecurity will induce them to demand less. Therefore, when the net export decreases the aggregate demand will also fall. Thus we can say option C is right.
Recall on February 1, Derrick Company established a $200 petty cash fund. On February 15, when the fund balance reached $7, the petty cash custodian prepared a petty cash report that summarized receipts for postage ($140) and printing ($54). Complete the necessary journal entry by selecting the account names and dollar amounts from the drop-down menus.
Answer with its Explanation:
The double entry to record the postage expenses of $140 and the printing expense of $54 is as under:
Dr Postage Expenses $140
Dr Printing Expenses $54
Cr Petty Cash Account $193
Cr Cash Over and Short Account $1
According to the summarized Report, the cash at hand is $7 which must be $6 ($200 - $194). This difference can adjusted in Cash Over and Short Account which is used to adjust minor differences in cash balance.
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Discount-Mart issues $10 million in bonds on January 1, 2018. The bonds have a ten-year term and pay interest semiannually on June 30 and December 31 each year. Below is a partial bond amortization schedule for the bonds: Date Cash Paid Interest Expense Increase in Carrying Value Carrying Value 1/1/2018 $8,640,967 6/30/2018 $300,000 $345,639 $45,639 8,686,606 12/31/2018 300,000 347,464 47,464 8,734,070 6/30/2019 300,000 349,363 49,363 8,783,433 12/31/2019 300,000 351,337 51,337 8,834,770 What is the stated annual rate of interest on the bonds
Answer:
6%
Explanation:
Given the following :
Amount of bond issued = $10,000,000
Cash paid = $300,000
Term of bond = 10years
Semiannual interest pay
The stated annual rate of interest on the bond can be calculated thus :
Rate of interest ;
Cash paid / Amount of bond issued
$300,000 / $10,000,000
= 0.03
0.03 * 100%
= 3% (semiannual interest)
Therefore, annual rate of interest :
Semiannual rate * 2
3% * 2 = 6%
Which is NOT one of the similarity between projects and operations Both are Performed by Individuals Both are Limited by constraints (e.g.) Resources Both needs to be Planned, Executed, Monitored and Controlled Both are ongoing
Answer:
Both are ongoing
Explanation:
Remember, projects do not go on forever. Rather, projects are usually marked by deadlines. However, operations are simply ongoing activities in which resources are planned, executed, monitored and controlled by individuals.
which may be constrain
A none similarity between projects and operations is that, they both are not ongoing .
________ marketing is about making sure the brand and its marketing are as personally relevant as possible to as many customers as possible–a challenge, given that no two customers are identical.
Answer:
personalized
Explanation:
The term being described in this question is known as personalized marketing. Also known as one-to-one marketing or individual marketing, this marketing strategy is when organizations use specific generalized data analysis and digital technology in order to deliver special personalized advertisement messages to a select group of potential customers. This is done in order to get the right product in front of the right people who are more likely to buy that product.
Assume that Matt, Joe, and Teresa are the only citizens in a community. A proposed public good has a total cost of $1,000. All three citizens will share an equal portion of this cost in taxes. The benefit of the public good is $500 for Matt, $280 for Joe, and $260 for Teresa. In a majority vote, this proposal will most likely be
Answer: Defeated; two against and one in favor
Explanation:
The options to the question are:
a. Accepted; two in favor and one against
b. Defeated; two against and one in favor
c. Accepted; three in favor and none against
d. Defeated; none in favor and three against
A majority vote is a voting system whereby the person who wins is the person that has more than fifty percent of the vote.
In this question, we are told that Matt, Joe, and Teresa will share an equal portion of this cost in taxes and that the benefit of the public good is $500 for Matt, $280 for Joe, and $260 for Teresa.
In a majority vote, this proposal will most likely be defeated as there will be two against and one in favor. Joe and Teresa will be against it ane only Matt will be in support as he will receive more in benefit than the others.
On March 3, Sheridan Company sells $707, 700 of its receivables to National Factors Inc. National Factors Inc. assesses a service charge of its receivables to Western Factors Inc. Western Factors Inc. assesses a service charge of 5% of the amount of receivables sold.
Prepare the entry on Sheridan Company books to record the sale of the receivables.
Answer: The answer is given below
Explanation:
From the question, we are informed that on March 3, Sheridan Company sells $707, 700 of its receivables to National Factors Inc. National Factors Inc. assesses a service charge of its receivables to Western Factors Inc. Western Factors Inc. assesses a service charge of 5% of the amount of receivables sold.
The entry on Sheridan Company books to record the sale of the receivables has been prepared and attached. It should be noted that the service charge expense was calculated as:
= 5% × $707,700
= 0.05 × $707,700
= $35,385.
Other information has been attached.
Q 9.30: On December 1, 2016, Acme Company places a new asset into service. The cost of the asset is $50,000 with an estimated five-year life and $10,000 salvage value at the end of its useful life. What is the depreciation expense for 2017 if Acme Company uses the straight-line method of depreciation
Answer:
Annual depreciation 2017= $8,000
Explanation:
Giving the following information:
The cost of the asset is $50,000 with an estimated five-year life and $10,000 salvage value at the end of its useful life.
To calculate the depreciation expense under the straight-line method, we need to use the following formula:
Annual depreciation= (original cost - salvage value)/estimated life (years)
Annual depreciation= (50,000 - 10,000)/5
Annual depreciation= $8,000
Loren has a $200 annual (calendar year) deductible on her health insurance plan. By the end of 2018, she had paid $175 in medical expenses. On January 4, 2019 she went to the doctor for the first time that year and was charged $60 for an office visit. How much of that must she pay for herself
Answer:
$60
Explanation:
Based on the information given about Loren the amount that she must pay herself will be $60 reason been that the amount of $175 she paid for her medical expenses at the end of 2018 was based on her health insurance plan, while the $60 was the amount of money she paid her self or the amount she was charge her for visiting the doctor for the first time on January 4, 2019.
Generally, deductibles are calculated on a calendar year basis. This means that, excluding copays, coinsurance, and non-covered charges, your health care bills must surpass your deductible between January and December for the insurance provider to begin paying.
Based on the information given about Loren the amount that she must pay herself will be $60 reason been that the amount of $175 she paid for her medical expenses at the end of 2018 was based on her health insurance plan, while the $60 was the amount of money she paid her self or the amount she was charge her for visiting the doctor for the first time on January 4, 2019.
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When going into a partnership, you should always:_________.
a. put all terms of the partnership into writing in a partnership agreement.
b. make sure that you have limited liability while you are in charge.
c. make sure all the profits are reinvested into the company.
Answer: A. put all terms of the partnership into writing in a partnership agreement.
Explanation:
The most important terms in a partnership agreement is ensuring that all terms are noted down and binded legally, this is to help partners know when need to do something and don't feel cheated or be cheated by someone or something. Avoidance of reaching out to terms noted down will further make things complex either when the business is growing or when there is need to shutdown or during operations.
In two to three sentences, explain how you will address
each area of competition to help make your business
successful against this competitor.
To begin your plan, you will need to know about your
competition and decide how you will attempt to compete.
Your competitor is called Create Your Own Yogurt, and it
uses artificial flavors that customers use to create their
own yogurt
In the lesson, you learned about three techniques
businesses can use to compete with one another.
Explanation:
1. Since my competitor– 'Create your own yogurt' uses artificial flavors, I need to determine what those flavors are, and why they may be better than mine.
2. After noting the recipe used by my competitors, I will improve my own recipe using natural flavors which are medically advisable, while improving on branding and marketing efforts.
3. Price is usually going to be my greatest advantage over my competitor, followed by quality, and so I will consider a reduction in my yogurt prices, while striving at maintaining superior quality.
Answer:
sample response: First, I will focus on lowering prices. I will do this by making sure my costs to run the business are low, and I will start by running the shop myself. I will create a better product by using healthier, better ingredients to attract more customers. Finally, I will be innovative by offering ingredients that aren't sold anywhere else.
Explanation:
Seller Adelaide and buyer Colin close on a transaction for two rental condos on March 15. They live in a state where the seller is considered the owner of the property on the day of closing. The combined rental income per month is $4,000. How much rental income can Colin expect to earn in March
Answer:
$2,064.48
Explanation:
Given the following :
Combined rental income per month = $4000
Transaction close date = March 15th
Number of days in March = 31
Daily Rental income for the two condos :
Income per month / days of the month
$4000 / 31
= 129.03
Number of days left in March = number of days payment Collins will make
= 31 - 15 = 16 days
Total rental payment in March :
Daily Rental fee × number of days left
$129.03 × 16 = $2,064.48
= $2,064.48
Suppose a company owns a fancy 3D printer which cost $1500 to buy. The printer depreciates $200 per year. (a) If the interest rate is 3 percent, what is the implicit rental price of the printer per year? (b) Does your answer to part (a) depend on whether the company used its own money to buy the printer, or if it took out a loan? Why? Suppose a newer edition of the 3D printer comes out for $2000. Because better technology is used, there is less depreciation; it only depreciates by $150 a year. (c) Calculate the implicit rental price for the new edition of the printer. Which edition of the printer - old or new - has a larger implicit rental price? (d) Suppose the interest rate was instead 5 percent, rather than 3 percent. Which edition of the printer - old or new - has a larger implicit rental price? Compare your answer with part (c), and comment on any difference.
Answer:
a) Implicit Rental Price:
Normal annual cost = $200
3% of $1,500 = 45
Implicit rental price = $245
b) The answer to part (a) does not depend on whether the company used its own money to buy the printer or if it took out a loan, provided that the cost of the loan remains within the 3% accepted rate. The reason for my answer is that the calculation of the implicit rental price is an economic measurement that tries to capture the opportunity cost of a project and not just the actual cost.
c) Implicit Rental Price:
Normal annual cost = $150
3% of $2,000 = 60
Implicit rental price = $210
The old edition of the printer has a larger implicit rental price.
d) Interest rate = 5%
Old edition: Implicit Rental Price:
Normal annual cost = $200
5% of $1,500 = 75
Implicit rental price = $275
New Edition:
Normal annual cost = $150
5% of $2,000 = 100
Implicit rental price = $250
The old edition of the printer still has a higher implicit rental price of $270 compared to the new edition's $250, with a difference of $20.
Explanation:
Determining the implicit rental price for the 3D printer, one is forced to consider the lost interest that the investment in the printer would occasion. By this, the use of the implicit rental price ensures that the only cost of a project is not the direct costs, but also includes some opportunity costs. Opportunity costs are costs incurred from the revenue lost because another option is chosen.
If the world price of a good is below its domestic price, the country will: Please choose the correct answer from the following choices, and then select the submit answer button. Answer choices import that good. export that good. put a price floor on that good. have a surplus of that good.
Answer:
import that good
Explanation:
International trade involves the exchange of goods and services between countries.
Due to comparative advantage that some countries have in producing goods they incur less cost than other countries when manufacturing such goods.
In the give scenario where world price of a good is below its domestic price, the country does not have comparative advantage in producing the good. Their cost of production is higher than world price.
The best option will be to import the good. This will save the country high cost of production locally
Unit of account is the function of money: that provides a common measurement of the relative value of goods and services. that shows the acceptability of money in exchange for goods and services. that shows the portability of money. that shows the ability of money to hold value over time.
Answer:
a common measurement of the relative value of goods and services.
Explanation:
Money has three functions. they are :
1. Medium of exchange : this shows the acceptability of money in exchange for goods and services.
2. Store of value : that shows the ability of money to hold value over time.
3. Unit of account : a common measurement of the relative value of goods and services. money serves a means by which one can measure the value of goods and services. for example, if we are told the price of a shoe is $1,000 and the price of another shoe is $50. We know that the $1,000 is relatively more valuable when compared to the $50 shoes.
Brokerage relationships must be disclosed in writing prior to : Eliciting or accepting confidential information from a buyer concerning buyer's real estate needs, motivation, or financial qualifications
Answer:
Correct
Explanation:
Brokerage relationships must involve both parties signing an agrerment to the relationship. This means that there must be a written agreement signed by both parties that the agent(broker) will represent the other party exclusively in the transaction. This agreement should be available and should be disclosed in writing before the broker can go ahead to represent the buyer on-call transactions that will involve buyers confidential information
Assume a firm's resources and capabilities are costly to imitate. This is because rival companies do not clearly understand the relationship between the resources and capabilities controlled by the firm. In this case, the firm's competitive advantage is protected against imitation by causal ambiguity. dependence complexity. social complexity. path dependence.
Answer:
Option A (Causal ambiguity) is the correct choice.
Explanation:
Causal ambiguity seems to be the circumstance in which it would be difficult to properly link the results or potential impact of some kind of occurrence including its initial values as well as triggers in strategic decisions and therefore in the formulation of strategy.A category of instruments used throughout economic analysis to assess the competitive advantage of a firm is very much at its fingertips.The other given choice are not related to the given instance. So that option would be the appropriate choice.
In this case, the firm's competitive advantage is protected against imitation by causal ambiguity. Thus, option C is appropriate.
According to Einhorn and Hogarth (1986), causal ambiguity is a state of uncertainty that includes a lack of understanding and knowledge. However, performance turns into a matter of luck rather than strategy if no one within or outside of an organization is aware of the causal relationships between resources, activities, and outcomes.
A lack of comprehension of resource-competitive advantage cause-and-effect connections is referred to as causal ambiguity. Imitability is constrained by causal ambiguity.
Causal ambiguity simply means that it's not quite evident where your benefit came from.
Thus, option C is correct.
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A workstation must produce 200 units an hour. It takes 45 minutes to receive the necessary material for production from the previous workstation. Output is moved between workstations in containers holding 30 units. If the process uses a safety factor of 20%, then the number of kanbans that should be circulating between this workstation and the previous workstation is: Group of answer choices
Answer:
The number of Kanbans circulating between this workstation and the previous workstation is 6 Containers
Explanation:
Given demand = 200 unit / hour
45 minutes between one workstation to another
Container size = 30
Safety factor = 20% = 0.2
Demand during lead time of 45 minutes = 45minute / 60minute * 200 units = 150 units
Number of Kanbans = Demand during lead time ( 1 + Safety factor) / Container size
= 150 (1 + 0.20) / 30
= 150 (1.20) / 30
= 180 / 30
= 6 Containers
Motonous Corporation has completed its fiscal year and reported the following information. The company had current assets of $153,413, net fixed assets of $ 412,331, and other assets of $7,822. The firm also has current liabilities worth $65,314, long-term debt of $178,334, and common stock of $162,000. How much retained earnings does the firm have?
Answer:
The retained earning is $167918.
Explanation:
The current assets of the company = $153413
The net fixed assets = $412331
Other assets of the company = $7822
Current liabilities of the company = $65314
Long term debt = $178334
Common stock = $162000
Retained earnings = total assets - (total liabilities + common stock)
Retained earnings = 153413 + 412331 + 7822 - ( 65314+ 178334+162000)
Retained earnings = $167 ,918
Effective reading involves what four steps? Select one: a. Preparing, reading, capturing key ideas, and reviewing. b. Preparing, absorbing, capturing, reviewing c. Reading, note-taking, summarizing, reviewing d. Reading, capturing key ideas, summarizing, reviewing
Answer:
Preparing, reading, capturing key ideas, and reviewing.
Explanation:
An applicant is discussing his options for Medicare supplement coverage with his agent. The applicant is 65 years old and has just enrolled in Medicare Part A and Part B. What is the insurance company obligated to do?
A. Exclude pre-existing conditions from coverage under the supplement policies
B. Look at the applicant's medical history to decide what premium to charge
C. Send the applicant to a doctor for a physical. Nothing can happen until they get the results.
D. Offer the supplement policy on a guaranteed issue basis
Answer:
D, Offer the supplement policy on a guaranteed issue basis.
Explanation:
Since the applicant has enrolled in both Medicare part A and B, the insurance has nothing more to do than offer the supplementary policy requested by the applicant.
Medicare is an important enrollment for person that have attained the age of 65. It is is a scheme that helps people of that age and above with their medical bills from there on. It is divided into Parts A and B and it is mandatory at the age of 65 that an individual enrols for medicare Part A irrespective of whether the individual is working or not or has an existing health plan from the employer. Part B on the other hand is important to enhance Part A but could be waived or stopped as decided for reasons best known to the individual.
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In a long period of economic expansion, the tax revenue collected _____ and the amount spent on welfare programs _________, creating a budget ________. Group of answer choices increases, decreases, deficit decreases, increases, deficit increases, increases, surplus increases, decreases, surplus decreases, decreases, surplus
Answer:
increases, decreases, surplus
Explanation:
In a long period of economic expansion, the income earned by individuals would higher, so the amount of tax earned would increase also. Also, In a long period of economic expansion, unemployment would be reduced so the government would spend less on welfare programs
when government revenue exceeds expenditure, there is a surplus.