Answers
Answer:
D
Explanation:
I got this answer due to how the costumer preference had nothing to due with the price
This scenario is an example of how a shift in demand can be created by A non-price determinant
For better understanding we have to explain what non-price determinant means
Non-price Determinants of Demand is simply known as those conditions apart fro. the current price that have the tendency to affect or influence the demand of a product or service and thus it brings about a result shift in its demand curve. they includes income, consumers taste, advertising etc.in the above case, it was due to her father, the president who the people do not seems to like.From the above we can therefore say that the answer This scenario is an example of how a shift in demand can be created by A non-price determinant, is correct
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Related Questions
In 2014, the city of Miketown collected $150,000 in taxes and spent $350,000. In 2014, the city of Miketown had a
Answers
Answer:
Budget deficit of $100,000
Explanation:
Calculation to determine how much the city of Miketown had
Budget deficit=Amount collected in taxes - Amount spent
Let plug in the formula
Budget deficit=$250,000-$350,000
Budget deficit =$100,000
Therefore in 2014 the city of Miketown had a BUDGET DEFICIT of $100,000
ou were hired as a consultant to Quigley Company, whose target capital structure is 35% debt, 10% preferred, and 55% common equity. The interest rate on new debt is 6.50%, the yield on the preferred is 6.00%, the cost of common from retained earnings is 11.25%, and the tax rate is 40%. The firm will not be issuing any new common stock. What is Quigley's WACC
Answers
Answer:
the weighted average cost of capital is 9.25%
Explanation:
The computation of the weighted average cost of capital is shown below;
= Cost of debt × weight of debt × (1 - tax rate) + cost of equity × weight of equity + cost of preferred stock × weight of preferred stock
= 35% × 6.50% × (1 - 0.40) + 11.25% × 55% + 6% × 10%
= 1.365% + 7.288% + 0.6%
= 9.25%
Hence, the weighted average cost of capital is 9.25%
The same would be considered and relevant
On September 30, 2021, Bricker Enterprises purchased a machine for $203,000. The estimated service life is 10 years with a $19,000 residual value. Bricker records partial-year depreciation based on the number of months in service. Depreciation for 2021, using the double-declining-balance method, would be: (Do not round intermediate calculations.) Multiple Choice
Answers
Answer:
Bricker Enterprises
Depreciation for 2021, using the double-declining-balance method, would be:
= $9,200.
Explanation:
a) Data and Calculations:
September 30, 2021:
Cost of purchased machine = $203,000
Estimated residual value = 19,000
Depreciable amount = $184,000
Estimated service life = 10 years
Depreciation rate using the double-declining-balance method = 20% (100/10 * 2)
Depreciation expense for the first year based on the double-declining-balance method:
= $36,800 ($184,000 * 20%)
Prorated depreciation expense for 2021 = $9,200 (($184,000 * 20%) * 3/12))
At December 31, 2016, Marion Inc. had 6,000,000 common shares outstanding. An additional 1,000,000 common shares were issued on April 1, 2017, and 500,000 more on July 1, 2017. On October 1, 2017, Marion issued 25,000, $1,000 par value, 8% convertible bonds. Each bond is convertible into 20 common shares. No bonds were converted in 2017. What is the number of shares to be used in calculating 2017 basic earnings per share and diluted earnings per share, respectively
Answers
Answer:
Number of shares to be used in calculating 2017 basic earnings per share = = 7,000,000 hares
Number of shares to be used in calculating 2017 diluted earnings per share = 7,125,000 shares
Explanation:
Number common shares outstanding at December 31, 2016 = 6,000,000
Number of additional common shares issued on April 1, 2017 relevant to 2017 = Number of shares issued * (Number of months from 01 April 2017 to 31 December 2017 / Number of months in a year) = 1,000,000 * (9 / 12) = 750,000
Number of additional common shares issued on July 1, 2017 relevant to 2017 = Number of shares issued * (Number of months from 01 July 2017 to 31 December 2017 / Number of months in a year) = 500,000 * (6 / 12) = 250,000
Number of common shares from convertible bonds issued on October 1, 2017 relevant to 2017 = Number of convertible bonds issued * (Number of months from 01 October 2017 to 31 December 2017 / Number of months in a year) * Number of shares the bond can be converted to = 25,000 * (3 / 12) * 20 = 125,000
Therefore, we have:
Number of shares to be used in calculating 2017 basic earnings per share = Number common shares outstanding at December 31, 2016 + Number of additional common shares issued on April 1, 2017 relevant to 2017 + Number of additional common shares issued on July 1, 2017 relevant to 2017 = 6,000,000 + 750,000 + 250,000 = 7,000,000 hares
Number of shares to be used in calculating 2017 diluted earnings per share = Number of shares to be used in calculating 2017 basic earnings per share + Number of common shares from convertible bonds issued on October 1, 2017 relevant to 2017 = 7,000,000 + 125,000 = 7,125,000 shares
when creating a new quickbooks data file for an existing company quickbooks automatically offsets accounts receivable balances with an entry to the
Answers
Your firm purchases goods from its suppier on terms of 1/22, net 42. What is the effective annual cost to yourfirm if it chooses not to take advantage of the trade discount offered
Answers
Answer:
The effective annual cost to yourfirm if it chooses not to take advantage of the trade discount offered is:
= 18.25%.
Explanation:
a) Data and Calculations:
Terms 1/22, net 42: This effectively provides a discount of 1% if the firm pays its supplier within 22 days from the date of purchase. After the 22 days up to 42 days, the firm pays the full amount. This means that the cost of this discount can be annualized as 1% * 365/20 = 18.25%.
This means that if the firm chooses not to take advantage of the trade discount offered, it is actually losing 18.25%. per annum.
In economics, the forces of___________________and__________________ determine the ____________________ in the market. Group of answer choices Supply and demand and price Supply and Demand and average fixed cost Supply and Demand and production cost Supply and cost and price revenue Marginal cost and marginal revenue and average variable cost
Answers
Answer:
Supply and demand and price
Explanation:
In economics, the forces of supply and demand determine the price in the market.
A portfolio consists of $15,000 in Stock M and $22,900 invested in Stock N. The expected return on these stocks is 8.80 percent and 12.40 percent, respectively. What is the expected return on the portfolio
Answers
Answer:
the expected return on the portfolio is 10.98%
Explanation:
The computation of the expected return is shown below;
Return on Stock M = $15,000 × 8.8% = $1,320
Return on Stock N = $22,900 × 12.40% = $2,840
Now
Portfolio return is
= ($1,320 + $2,840 ) ÷ ($37,900)
= 10.98%
The $37,900 comes from
= $15,000 + $22,900
= $37,900
hence, the expected return on the portfolio is 10.98%
On Dec 1, 2019 ABC purchases a piece of equipment with a total cost of $[YOUR NUMBER] * 1000. The equipment is expected to have a 8 year or 50,000 mile useful life and a $10,000 salvage value at the end if its useful life. ABC drives the equipment 1,000 miles in 2019 and 12,000 miles in 2020. If ABC uses straight line depreciation, What depreciation expense should ABC record in 2019
Answers
Answer:
$2,000
Explanation:
depreciation expense should ABC record in 2019
In a market, to find the total amount supplied at a particular price, a. we must add up all of the amounts that firms are willing and able to supply at that price. b. we must take the average of the amounts that firms are willing and able to supply at that price. c. the tastes and preferences of buyers must be established. d. all determinants of demand must be taken into account.
Answers
Answer:
a. we must add up all of the amounts that firms are willing and able to supply at that price.
Explanation:
In Economics, there are primarily two (2) factors which affect the availability and the price at which goods and services are sold or provided, these are demand and supply.
The law of demand states that, the higher the demand for goods and services, the higher the price it would be sold all things being equal.
On the other hand, the law of supply states that the higher the price of goods and services, the lower the supply.
Aggregate supply (AS) refers to the total quantity of output (goods and services) that firms are willing to produce and sell at a given price in an economy at a particular period of time.
An aggregate supply curve gives the relationship between the aggregate price level for goods or services and the quantity of aggregate output supplied in an economy at a specific period of time.
In a market, to find the total amount supplied at a particular price, we must add up or sum all of the amounts (quantities) of a product that firms are willing and able to supply at that price.
Price can be defined as the amount of money that is required to be paid by a buyer (customer) to a seller (producer) in order to acquire goods and services.
Executory Contracts are generally Multiple Choice Recorded with an adjusting entry Recorded with a transaction entry Not recorded Recorded with a closing entry
Answers
Answer:
Not recorded
Explanation:
A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.
There are different types of contract in business and these includes: fixed-price contract, cost-plus contract, bilateral contract, implies contract, unilateral contract, adhesion contract, unconscionable contract, option contract, express contract, executory contract, etc.
An executory contract can be defined as a type of contract made between two parties in which the obligations have not been fully performed or executed. Thus, there exist an unperformed obligations on both parties involved in the contract. Also, in an executory contract the terms with respect to the contract are usually set to be completed or executed at a later date in the future.
Hence, as a result of the aforementioned unperformed obligations, executory contracts are generally not recorded.
Hummingbird Company uses the product cost method of applying the cost-plus approach to product pricing. The costs and expenses of producing 25,000 units of Product K are as follows:
Variable costs per unit:
Direct materials $2.50
Direct labor 4.25
Factory overhead 1.25
Selling and administrative expenses 0.50
Total 8.50
Fixed costs:
Factory overhead $25,000
Selling and administrative expenses 17,000
Hummingbird desires a profit equal to a 5% rate of return on invested assets of $642,500.
Required:
a. Determine the amount of desired profit from the production and sale of Product K.
b. Determine the total manufacturing costs and the cost amount per unit for the production and sale of 25,000 units of Product K.
c. Determine the markup percentage for Product K.
d. Determine the selling price of Product K.
Answers
Answer:
Hummingbird Company
a. The amount of desired profit from the production and sale of Product K is: $32,125.
b. The total manufacturing costs is: $237,500
The cost amount per unit for the production and sale of 25,000 units of Product K is: $10.18 ($274,500/25,000)
c. The markup percentage for Product K is:
= 11.70% ($32,125/$274,500 * 100)
d. The selling price of Product K is:
= $11.47 ($286,625/25,000)
Explanation:
a) Data and Calculations:
Production and sales unit of Product K = 25,000
Variable costs per unit:
Direct materials $2.50
Direct labor 4.25
Factory overhead 1.25
Selling and administrative expenses 0.50
Total 8.50 $212,500
Fixed costs:
Factory overhead $25,000 $237,500
Selling and administrative expenses 17,000
Total production and sales costs = $254,500
5% rate of return on invested assets 32,125 ($642,500 * 5%)
Total costs + target profit $286,625
Between April 12, 2008, and April 12, 2013, the price of a U.S. postage stamp increased from $0.41 to $0.46. The price of a U.S. postage stamp has increased approximately ____________ in terms of Japanese yen and _____________ in terms of British pounds
Answers
Answer:
The price of a U.S. postage stamp has increased 10% in terms of Japanese yen and 44% in terms of British pounds.
Explanation:
The exact question is as follows :
To find - Between April 12, 2008, and April 12, 2013, the price of a U.S. postage stamp increased from $0.41 to $0.46. The price of a U.S. postage stamp has increased approximately ____________ in terms of Japanese yen and _____________ in terms of British pounds.
Solution -
Given that,
postage stamp increased from $0.41 to $0.46
Now,
From the table, we can find that,
For, April 12, 2008
1$ = 0.5069 £
1$ = 101.54 ¥
And
For April 12, 2013
1$ = 0.6510 £
1$ = 99.62 ¥
Now,
We have -
1$ = 0.5069 £
⇒$0.41 = 0.207829 £
and
1$ = 0.6510 £
⇒$0.46 = 0.29946 £
So,
Change = (0.29946 - 0.207829)/ (0.207829) × 100 %
= 44%
∴ we get
The price of a U.S. postage stamp has increased 44% in terms of British pounds.
Now,
Similarly, we do for Japanese Yen
We have -
1$ = 101.54 ¥
⇒0.41$ = 41.6314 ¥
And
1$ = 99.62 ¥
⇒0.46$ = 45.8252 ¥
So,
Change = (45.8252 - 41.6314)/ 45.8252 × 100 %
= 10%
∴ we get
The price of a U.S. postage stamp has increased 10% in terms of Japanese yen.
Assume the firm has a tax rate of 22 percent. c-1.Calculate return on equity (ROE) under each of the three economic scenarios before any debt is issued. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)c-2.Calculate the percentage changes in ROE when the economy expands or enters a recession. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)c-3.Calculate the return on equity (ROE) under each of the three economic scenarios assuming the firm goes through with the recapitalization. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)c-4.Given the recapitalization, calculate the percentage changes in ROE when the economy expands or enters a recession. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)
Answers
Answer:
From the attached excel file, we have:
a-1. We have:
ROE under recession = 10.43%
ROE under normal = 13.21%
ROE under expansion = 14.92%
a-2. We have:
Percentage changes in ROE when the economy enters a recession = -21.00%
Percentage changes in ROE when the economy expands = 13.00%
b-1. We have:
ROE under recession = 15.63%
ROE under normal = 21.06%
ROE under expansion = 24.42%
b-2. We have:
Percentage changes in ROE when the economy enters a recession = -25.77%
Percentage changes in ROE when the economy expands = 15.95%
c-1. We have:
ROE under recession = 8.14%
ROE under normal = 10.30%
ROE under expansion = 11.64%
c-2. We have:
Percentage changes in ROE when the economy enters a recession = -21.00%
Percentage changes in ROE when the economy expands = 13.00%
c-3. We have:
ROE under recession = 12.19%
ROE under normal = 16.43%
ROE under expansion = 19.05%
c-4. We have:
Percentage changes in ROE when the economy enters a recession = -25.77%
Percentage changes in ROE when the economy expands = 15.95%
Explanation:
Note: This question is not complete. The complete question is therefore provided before answering the question. Kindly see the attached pdf file for the complete question.
Also note: See the attached excel file for all the calculations required.
In the attached excel file, the following formula is used:
Percentage in ROE = ((ROE of Recession or Expansion - ROE of Normal) / ROE of Normal) * 100
Wallace is the CEO of Lustig Industries. He is very involved with strategic planning for the organization as well as monitoring control processes. These activities make use of Wallace's:
Answers
Answer: conceptual skills
Explanation:
Conceptual skills refers to the abilities which allow an individual to understand complex scenarios better and develop creative solutions in order to tackle the challenge.
Conceptual skills are important because it enables management approach the complicated situations at the workplace in different ways and are vital in performing tasks like strategic planning and controlling.
On January 3, 2019, Carey discovers his diamond bracelet has been stolen. The bracelet had a fair market value and adjusted basis of $7,000. Assuming Carey had no insurance coverage on the bracelet and his adjusted gross income for 2019 is $50,000, calculate the amount of his theft loss deduction.
Answers
Answer: $1,900
Explanation:
Theft loss deduction is calculated by adjusting the fair market value of the asset for a theft loss floor limitation of $100 and 10% of the person's AGI.
Theft loss deduction is:
= Fair value -Theft floor limitation - 10% of AGI
= 7,000 - 100 - (10% * 50,000)
= $1,900
The group responsible for establishing standards that identify material specifications and testing procedures is ____.
Answers
Answer: ASTM International
Explanation:
The group that is responsible for the establishment of standards which identify material specifications and testing procedures is referred to as ASTM International.
ASTM International was formerly called the American Society for Testing and Materials. This is an international standards organization which technical standards for different products, materials, systems, and services.
It was put in place in order to improve safety and to also improve the quality o both the consumer and the industrial products.
ASTM International is the group responsible for establishing standards that identify material specifications and testing procedures.
What is ASTM International?ASTM International is the group that is responsible for the establishment of standards which identify material specifications, testing and procedures. It was put in place in order to improve safety and to also improve the quality o both the consumer and the industrial products.
ASTM International was formerly called the American Society for Testing and Materials. This is an international standards organization which technical standards for different products, materials, systems, and services.
Hence, ASTM International is the group responsible for establishing standards that identify material specifications and testing procedures.
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A company is considering two mutually exclusive projects. The firm has a 12% cost of capital , has estimated the cash flows as below: Project A Project B Initial Investment -$150,000 -$150,000 Year Cash Inflows 1 $ 45,000 $ 75,000 2 $ 45,000 $ 60,000 3 $ 45,000 $ 30,000 4 $ 45,000 $ 30,000 5 $ 45,000 $ 30,000 6 $ 45,000 $ 30,000 Calculate the payback period for each project. Which project is preferred according to this technique
Answers
Answer:
Project A = 4 years 4 months
Project B = 2 years 6 months
Explanation:
The payback period of a project is the length of time it takes for the cash flows to equal the amount of initial investment.
Project A ( $150,000) = $ 45,000 + $ 45,000 + $ 45,000 + $15,000 / $ 45,000 x 12
= 4 years 4 months
Project A ( $150,000) = $ 75,000 + $ 60,000 + $15,000 / $ 30,000 x 12
= 2 years 6 months
Demonstrate your understanding of the difference between intrapreneurs, entrepreneurs and managers and their role in organizational change.
a. Tariq- Tariq is responsible for working through others to achieve organizational goals.
b. Sushil- Sushil is tasked with creating an organization and control system to enable the firm to increase productivity.
c. Sonia- Sonia is creating a control system for specific functional areas such as accounting, marketing, and manufacturing.
d. Mary- Mary recognized the need for a new product that was unmet in the industry. She has created a prototype, secured funding, and formed a company to produce and sell it.
e. Taylor- Taylor, Rafael, and Malik have been selected to form a skunkworks team.
f. Dylan- Dylan thought of a radical change the company could make to the production system and leading a team to design and implement the change.
g. Chris- Chris developed a revolutionary new fitness program and is marketing a series of videos to distribute nationwide.
h. Todd- Todd recently left his employer after they ignored his idea for a new product. He is starting his own company so he can enter the market.
i. Carmen has been working in customer service for two years and has discovered a system for sharply reducing the department's response time to customers.
Answers
Answer:
The answer is below
Explanation:
Given that an Entrepreneur is a person who establishes a business and operates the company with complete autonomy or freedom. At the same time, Intrapreneur is a person who is charged with the responsibility of creating innovation in the existing business company to increase revenue, with less autonomy compared to entrepreneurs.
On the other hand, a manager is a person who is responsible for the organization and directing the affairs of other staff to achieve the company goals.
Also, skunkworks in business is a term to describe a group within a firm responsible for working on a particular project, with a relative autonomy or freedom given by the company they work for.
Hence, we have the following:
A. Tariq - Manager
B. SushiI - Intrapreneur
C. Sonia - Intrapreneur
D. Mary - Entrepreneur
E. Taylor - Intrapreneur
F. Dylan - Manager
G. Chris - Entrepreneur
H. Todd - Entrepreneur
I. Carmen - Intrapreneur.
From the information given, the intrapreneurs, entrepreneurs and managers will be:
A. Tariq - ManagerB. SushiI - IntrapreneurC. Sonia - IntrapreneurD. Mary - EntrepreneurE. Taylor - IntrapreneurF. Dylan - ManagerG. Chris - EntrepreneurH. Todd - EntrepreneurI. Carmen - IntrapreneurAn intrapreneur simply means an employee that is responsible for the development of an innovative idea in a company.
An entrepreneur is an individual who sets up a business with the hope of making a profit. A manager is an individual that's responsible for controlling the employees in an organization.
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A company currently has no items in inventory. The demand for the next four months is 200, 400, 250, and 350 units. Determine the level production rate if a level strategy is selected with the goal of ending Period 4 with 100 units of inventory.
Answers
Answer: 325 units
Explanation:
The level production rate if a level strategy is selected with the goal of ending Period 4 with 100 units of inventory will be selected thus:
First, we calculate the total demand for the four months which will be:
= 200 + 400 + 250 + 350
= 1200 units
Therefore, to have an ending inventory of 100 units in period 4 will be:
= (1200 + 100)/4
= 1300/4
= 325 units
Therefore, 325 units will be produced every month.
The ____ is an organization that has developed resource documentation for CSPs and their staff. It provides guidance for privacy agreements, security measures, questionnaires, and more.
Answers
Answer:
Cloud Security Alliance
Explanation:
Cloud Security Alliance can be regarded as an organization that
is a not-for-profit one having a mission in raising best practices that provid security assurance in cloud computing as well as provision of education on how cloud computing can be used in
securing forms of computing. It should be noted that Cloud Security Alliance
is an organization that has developed resource documentation for CSPs and their staff. It provides guidance for privacy agreements, security measures, questionnaires, and more.
Jarrod's Meat Shop doubles as a butcher shop and a sandwich shop that sells to both individuals and a nearby hospital system. On a particular day, Jarrod's had cash sales of $450, credit sales of $600, sales on MasterCard of $657, and sales on Visa of $923. The sales on credit cards incur merchant charges of 1.6% for MasterCard and 1.9% for Visa.
Required:
Prepare a journal entry to record these sales.
Answers
Answer:
Commission on Master card = 657*1.6%
Commission on Master card = $10.51
Commission on Visa = 923*1.9%
Commission on Visa = $17.54
Bank = $657 + $923 - $10.51 - $17.54
Bank = $1,551.95
Date Journal entry Debit Credit
Cash A/C $450
Account Receivables $600
Bank A/C $1,551.95
($646.49+$905.46)
Commission A/C $28.05
($10.51+$17.54)
To Sales A/C $2,630
($450+$600+$657+$923)
On February 1st, a building owner in New York, Barry Builder, contracted with a tenant from New Jersey, Lisa Leaser, for the lease of Barry Builder's building in Baltimore, MD beginning on April 1st. At the same time, Barry Builder contracted with Caren's Construction, a Baltimore, MD business, to renovate the building. The contract between Barry Builder and Caren's Construction specified that all renovations were to be completed no later than March 20th. The lease agreement between Barry Builder and Lisa Leaser contained a clause providing that if the building were not ready for occupancy by April 1st, Barry Builder would pay the costs incident to storing Lisa Leaser's business inventory until such time that Barry Builder's building would be ready. As of April 1st, Caren's Construction had not completed the agreed upon renovations, which prompted Barry Builder to file a lawsuit against the renovation company seeking to recover not only the rental value of the building during the period of delay but also the amount that he had been obliged to pay Lisa Leaser for storing her inventory.
Required:
Which court has original jurisdiction and why?
Answers
Answer:
Maryland's courts will have the original jurisdiction since the building is located in Baltimore. The parties involved might be citizens of other states ((New York and New Jersey), but the building is not. In this case, the contract involved renovations to the building, so the original jurisdiction will be Maryland.
Explanation:
Your client has decided to invest $2,000 a year (every December 31st) into an IRA over her 40-year working life and then retire. What will your client have if the account earns 10% compounded annually
Answers
Answer:
FV=$885,185.11
Explanation:
Giving the following information:
Annual deposit (A)= $2,000
Interest rate (i)= 10%
Number of periods (n)= 40 years
To calculate the future value (FV) of the investment, we need to use the following formula:
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
FV= {2,000*[(1.1^40) - 1]} / 0.1
FV=$885,185.11
A ________ involves complete political and economic integration, either voluntary or enforced. political union common market regional cooperation for development (RCD) customs union free trade area (FTA)
Answers
Answer:
Political union
Explanation:
A political union refer to the type of state where it would be comprise of the small states. It is process of developing the state out of the smaller state that we called as unification
ALso it includes the integration regarding the political and economical either it would be voluntary or enforced
So the political union is the answer
Which of the following is an example of earned income?
A.
A paycheck you receive for work you have done
B.
Interest on money you lent to a friend
C.
A gift of money from a friend or family member
D.
Money you receive from a company you invested in
Answers
A parent may elect to include a child's income in the parent's return if: a.The child's income is only from interest and dividend distributions. b.The child's gross income is more than $1,050 and less than $10,500. c.No estimated tax has been paid in the name of the child and the child is not subject to backup withholding. d.All of these choices must be met for a parent to elect to include a child's income in the parent's return.
Answers
Answer: d. All of these choices must be met for a parent to elect to include a child's income in the parent's return.
Explanation:
A parent is allowed to include their child's income in theirs if certain conditions are met. One of these conditions is that the income in question can only come from dividends and interest distributions.
Another requirement is that the income must be less than $10,500($11,000 in 2021) but also above $1,050. Yet another one is that no tax should have been paid in the name of the child and the child should be less than 19 or 24 if they are full time students.
Liu, the owner of Mortgage Source, a sole proprietorship, wants to obtain additional business capital. For this enterprise, the opportunity is most likely limited to
Answers
Answer:
borrowing funds.
Explanation:
From the question we are informed about Liu, the owner of Mortgage Source, a sole proprietorship, wants to obtain additional business capital. In this case, For this enterprise, the opportunity is most likely limited to borrowing funds. Sole proprietorship who is regarded as as a sole tradership or individual is that that the enterprise is owned and run with a person, sourcing of fund could be through fund borrowing. Money that is been one received from another party having agreement that the money will be repaid is a borrowed funds Most borrowed funds are been paid back with interest,i.e borrower will agrees to pays a certain percentage of the borrowed principal amount back to the lender which will serve as as compensation for borrowing the fund.
ijuana Tile has gathered the following information on its utility cost for the past six months. Machine Hours Utility Cost 1,300 $1,692 1,700 1,935 1,250 1,620 1,800 2,038 1,900 2,088 1,500 1,782 a. Using the high-low method, determine the cost formula for utility cost. y
Answers
Answer:
y = $720 + $0.72 per MH
Explanation:
The cost formula for the utility cost is shown below:
But before that following calculations need to be done
Variable cost per machine hour is
= [Total cost at highest level - Total cost at the lowest level] ÷ (Highest level-Lowest level)
= (2088 - 1620) ÷ (1900 - 1250)
= $0.72 per machine hour
Now
Total fixed cost is
= 2088 - (0.72 × 1900)
= $720
So, the Cost formula is
y = $720 + $0.72 per MH
Gaslamp Corp. reports pretax accounting income of $204,000, but due to a single temporary difference, taxable income is only $152,000. At the beginning of the year, no temporary differences existed. Gaslamp is subject to a tax rate of 25%. The journal entry to record Gaslamp Corp.'s income taxes would include:
Answers
Answer:
Journal entry
General Journal Debit Credit
Income Tax Expense $81,600
To deferred tax Liability(204000-152000)x40% $20800
To Income Tax Payable (152000*40%) $60,800
(Being Income tax expense recorded)