Having a unique and local raw material that can be transformed into various local products is essential in participating in the global economy. This can contribute to the country's economic growth, provide job opportunities for locals, and attract tourism.
Yes, it is true that to participate and succeed in the global economy, a country should have unique and local variability. This means that a country should have distinct raw materials or resources that can be transformed into various local products that can cater to both domestic and international markets.
An example of a unique raw product that can produce various local products is the cacao bean in the Philippines. The cacao bean is a unique raw material that can be found in specific regions in the country such as Davao and Bohol. This raw material can be transformed into various local products such as tablea or pure cocoa tablets, chocolate bars, cocoa powder, and other chocolate-based products. These products can be sold both locally and internationally, thus contributing to the country's economy and providing job opportunities for locals.
By having a unique raw material, the Philippines can create its own brand and niche in the global market, which can set it apart from other countries that produce chocolate-based products. Moreover, the country's diversity in local products can attract tourists and create a sustainable tourism industry.
Learn More about economic growth here :-
https://brainly.com/question/11679822
#SPJ11
. industrial regulation is concerned with multiple choice 1 prices, output, and profits in specific industries, whereas social regulation deals with the broader impact of business on consumers, workers, and third parties. the transition of industries in the competitive market, whereas social regulation deals with the needs of low-income individuals for assistance. the broader impact of business on consumers, workers, and third parties, whereas social regulation deals with prices, output, and profits in specific industries. the environmental impact of industries on the economy, whereas social regulation deals with the broader impact of business on consumers, workers, and third parties.
Industrial regulation is concerned with prices, output, and profits in specific industries, whereas social regulation deals with the broader impact of business on consumers, workers, and third parties.
So, industrial regulation focuses on regulating the operations and performance of specific industries to ensure that they comply with the regulatory standards set by the government and maintain fair competition. Social regulation, on the other hand, is designed to address broader social issues such as consumer protection, worker safety, and environmental protection, among others. It seeks to regulate the overall impact of businesses on society, including low-income individuals who may require assistance. Therefore, industrial regulation is more focused on specific industries, while social regulation is more concerned with the broader societal implications of business activities.
The Industrial Revolution was a period of significant economic and social change that took place in Europe and b America from the mid-18th to the mid-19th century. It marked the transition from agrarian-based economies to industrialized economies, powered by new manufacturing processes and technological innovations. The revolution began in Great Britain and then spread to other parts of the world, leading to dramatic improvements in productivity, transportation, and communication.
To know more about industrial revolution, visit:
https://brainly.com/question/27997673
#SPJ11
Nakashima Gallery had the following petty cash transactions in February of the current year. Nakashima uses the perpetual system to account for merchandise inventory.
Feb.2: Wrote a $350 check to establish a petty cash fund.
Feb.5: Purchased paper for the copier for $15. 15 that is immediately used.
Feb.9: Paid $32.50 shipping charges (transportation-in) on merchandise purchased for resale, terms FOB shipping point. These costs are added to merchandise inventory.
Feb.12: Paid $7.25 postage to deliver a contract to a client.
Feb.14: Reimbursed Adina Sharon, the manager, $75 for mileage on her car.
Feb.20: Purchased office paper for $69.77 that is immediately used.
Feb.23: Paid a courier $20 to deliver merchandise sold to a customer, terms FOB destination.
Feb.25: Paid $10.50 shipping charges (transportation-in) on merchandise purchased for resale, terms FOB shipping point. These costs are added to merchandise inventory.
Feb.27: Paid $52 for postage expenses.
Feb.28: The fund had $24.56 remaining in the petty cashbox. Sorted the petty cash receipts by accounts affected and exchanged them for a check to reimburse the fund for expenditures.
Feb.28: The petty cash fund amount is increased by $100 to a total of $450.
1. Prepare the journal entry to establish the petty cash fund.
2. Prepare a petty cash payments report for February with these categories: delivery expense, mileage expense, postage expense, merchandise inventory (for transportation-in), and office supplies expense.
3. Prepare the journal entries for part 2 to both (a) reimburse and (b) increase the fund amount.
1. To establish the petty cash fund, the journal entry would be:
Date Account Title Debit Credit
Feb.2 Petty Cash 350
Cash 350
2. Petty cash payments report for February:
Delivery Expense: $20
Mileage Expense: $75
Postage Expense: $7.25 + $52 = $59.25
Merchandise Inventory (Transportation-in): $32.50 + $10.50 = $43
Office Supplies Expense: $15 + $69.77 = $84.77
3. (a) To reimburse the fund:
Date Account Title Debit Credit
Feb.28 Delivery Expense 20
Mileage Expense 75
Postage Expense 59.25
Merchandise Inventory 43
Office Supplies Expense 84.77
Cash 282.02
Total expenses: $20 + $75 + $59.25 + $43 + $84.77 = $282.02
(b) To increase the fund amount:
Date Account Title Debit Credit
Feb.28 Petty Cash 100
Cash 100
To know more about refer cash fund here
brainly.com/question/31155300#
#SPJ11
production costs added to a margin of profit to determine pricecompanies that develop elaborate cost accounting systems to measure production costs, add in a margin of profit and come up with a price are using cost based pricingadding up various costs relative to producing a car such as engine parts, body, tires, and radio and adding a profit margin to come up with the vehicle price is a method called cost based pricing
Cost-based pricing is a method used by companies to determine the price of their products by adding production costs and a margin of profit.
Companies often develop elaborate cost accounting systems to measure their production costs accurately. These systems consider various costs relative to producing a product, such as raw materials, labor, overhead expenses, and other associated costs. By adding these costs together, the company can determine the total cost of producing the product. After calculating the total cost, the company adds a margin of profit to arrive at the final price. The profit margin is usually a percentage of the total cost and varies based on factors such as industry standards, competition, and market demand. The final price of the product should reflect the production costs and the desired profit margin.
Cost-based pricing is commonly used in industries such as manufacturing, where production costs can be accurately measured. It is a straightforward method that ensures the company recovers its production costs and earns a profit. However, it does not take into account other factors such as customer demand, competitor pricing, and the value of the product to the customer. Therefore, companies often use other pricing strategies, such as value-based pricing or market-based pricing, to determine the optimal price for their products.
to know more about production cost visit:
https://brainly.com/question/29383456
#SPJ11
Country Pet Industries has employees with pay schedules that vary based on job classification.
Required: Compute the federal income tax liability for each employee using the percentage method for Manual Payroll Systems in Appendix C. All Forms W-4 were received in 2021. No one checked the box in Step 2 and there was no additional information in Step 4. (Round your intermediate calculations and final answers to 2 decimal places.)
Federal income refers to the revenue earned by the federal government of a country through various sources such as taxes, fees, and other types of receipts.
In the United States, federal income primarily comes from individual and corporate income taxes, social security and Medicare taxes, excise taxes, and customs duties. The Internal Revenue Service (IRS) is the agency responsible for collecting federal income taxes from individuals and businesses. The federal government uses the revenue earned from federal income to fund various programs and services, such as national defense, social welfare programs, To compute the federal income tax liability for each employee at Country Pet Industries using the percentage method for Manual Payroll Systems, you would follow these steps:
1. Determine each employee's taxable wages for the pay period. This is typically the gross pay minus any pre-tax deductions or adjustments.
2. Use the appropriate IRS tax table (Publication 15-T) for the employee's filing status and pay frequency.
3. Locate the income range that includes the employee's taxable wages for the pay period.
4. Apply the corresponding percentage rate and subtract the fixed amount listed in the table to calculate the federal income tax liability.
Learn more about federal income here:
https://brainly.com/question/12600097
#SPJ11
Assume the United States is experiencing a recessionary gap. The government decreases income taxes to stimulate the economy. As a result of the change in the price level only, which of the following will occur?U.S. demand for imports will increase, depreciating the dollar.U.S. demand for imports will increase, appreciating the dollar.U.S. demand for imports will decrease, depreciating the dollar.U.S. demand for imports will decrease, appreciating the dollar.U.S. demand for imports as well as the value of the dollar will be unchanged.
If the United States decreases income taxes to stimulate the economy during a recessionary gap, it is likely that U.S. demand for imports will increase. This is because the decrease in income taxes will leave consumers with more disposable income, which they may choose to spend on imported goods. This increase in demand for imports may lead to the dollar depreciating, as more dollars are leaving the country to purchase foreign goods. Therefore, the answer is: U.S. demand for imports will increase, depreciating the dollar.
Assuming the United States is experiencing a recessionary gap, and the government decreases income taxes to stimulate the economy, the result of the change in the price level only will cause U.S. demand for imports to increase, appreciating the dollar.
Here's a step-by-step explanation:
1. The government decreases income taxes, which increases disposable income for consumers.
2. With more disposable income, consumers spend more on goods and services, including imports.
3. As the U.S. demand for imports increases, the demand for foreign currency to purchase those imports also increases.
4. This increased demand for foreign currency leads to an appreciation of the U.S. dollar, as more foreign currency is exchanged for dollars to meet the higher demand for imports.
So, the correct answer is: U.S. demand for imports will increase, appreciating the dollar.
To know more income taxes https://brainly.com/question/14939452
#SPJ11
Skipper Company manufactures toy boots and uses an activity - based costing system. The following information is provided for the month of May Estimated Estimated Indirect Quantity of Activity Activity Costs Allocation Base Allocation Base Materials handling $3,200 Number of parts 5,000 parts Assembling $5,000 Number of parts 5.000 parts Packaging $5,000 Number of boats 1.150 boats Each boat consists of four parts, and the direct materials cost per boat in $7 66. There is no direct labor. What is the total manufacturing cost per boat (Round any intermediate calculations and your final answer to the nearest cont) A $19.35 OBS11.69 C. 5281 D. $1422
The total manufacturing cost per boat: is $14.22. The correct option is D.
To determine the total manufacturing cost per boat, we need to calculate the total indirect costs and add them to the direct materials cost per boat.
Total indirect cost for materials handling = $3,200
Total indirect cost for assembling = $5,000
Total indirect cost for packaging = $5,000
Total indirect cost per boat = ($3,200 + $5,000) / 5,000 parts + ($5,000 / 1,150 boats) = $1.24 + $4.35 = $5.59
Direct materials cost per boat = $7.66
Total manufacturing cost per boat = $5.59 + $7.66 = $14.25, which rounds to the nearest cent as $14.22.
Therefore, the total manufacturing cost per boat is $14.22.
To know more about total manufacturing cost, refer here:
https://brainly.com/question/28499890#
#SPJ11
Coomplete question:
Skipper Company manufactures toy boots and uses an activity - based costing system. The following information is provided for the month of May Estimated Estimated Indirect Quantity of Activity Activity Costs Allocation Base Allocation Base Materials handling $3,200 Number of parts 5,000 parts Assembling $5,000 Number of parts 5.000 parts Packaging $5,000 Number of boats 1.150 boats Each boat consists of four parts, and the direct materials cost per boat in $7 66. There is no direct labor. What is the total manufacturing cost per boat (Round any intermediate calculations and your final answer to the nearest cont)
A $19.35
B. $11.69
C. $2.81
D. $14.22
Conduct evidence-based research to find policies with evidence of success in texas and mention one example of a policy already in place. Provide a link to the source you found such as a news article, policy paper, or website.
The Texas High-Quality Prekindergarten Program is an evidence-based policy with success in Texas that aims to improve school readiness and reduce achievement gaps for at-risk students.
The process of conducting evidence-based research to find policies with evidence of success in Texas as follows:
Identify the research question: The research question is to find policies with evidence of success in Texas.Define the search terms: The search terms could include "evidence-based policies in Texas," "successful policies in Texas," "effective policies in Texas," etc.Conduct a search: Use reputable search engines like JSTOR to find relevant sources.Evaluate the sources: Evaluate the sources based on the relevance, credibility, and validity. Peer-reviewed articles, government reports, and policy papers are generally reliable sources of information.Analyze the information: Read and analyze the information obtained from the sources to identify evidence-based policies with successful outcomes in Texas.Select an example: Select an example of a policy that has evidence of success in Texas.Learn more about evidence-based research here:
https://brainly.com/question/29782299
#SPJ1
a single stock futures contract on a nondividend-paying stock with a current price of $130 has a maturity of one year. a. if the on year t-bill rate is 5.2%, what should the futures price be?
If the one year t-bill rate is 5.2%, the futures price of a single stock futures contract on a nondividend-paying stock with a current price of $130 and a maturity of one year should be $136.56.
To calculate the futures price of the nondividend-paying stock, we can use the cost of carry model which takes into account the current stock price, the risk-free interest rate, and the storage or holding costs of the stock.
Using the cost of carry model, the futures price can be calculated as follows: Futures price = Spot price x (1 + risk-free interest rate)^time to maturity Minus holding costs - benefits of ownership .
In this case, the spot price of the stock is $130 and the time to maturity is one year. The risk-free interest rate (t-bill rate) is 5.2%, so we can plug these values into the equation as follows: Futures price = $130 x (1 + 0.052)^1 - 0 Futures price = $136.56.
Visit here to learn more about Risk-free interest rate:
brainly.com/question/31525324
#SPJ11
two stockbrokers employed with paulson co., in clear violation of the rules of their employer, sold worthless stocks to unsuspecting customers. the customers never questioned if the brokers had the actual or implied authority to sell the stock. the customers who lost money sued the brokerage firm, contending that the firm was liable for their losses because the brokers had authority by the law of agency by estoppel. did they?
Yes, the customers may have a valid claim under the law of agency by estoppel. This is because the stockbrokers were employed by Paulson Co., which created an agency relationship between the brokers and the firm.
Even though the brokers sold worthless stocks in clear violation of their employer's rules, the customers may have reasonably believed that the brokers had the authority to sell the stocks due to their employment with Paulson Co. This is known as implied authority, which can be established through the conduct of the principal (in this case, Paulson Co.). Additionally, the brokerage firm may be held liable for the actions of its agents (the brokers) under the principle of vicarious liability. Therefore, the customers may have a valid claim against Paulson Co. for their losses.
To know more about stockbrokers visit:
https://brainly.com/question/28269762#SPJ11in swot analysis, which of the four factors lend themselves to understanding the external environment of the firm?
In a SWOT analysis, the factors that lend themselves to understanding the external environment of the firm are the Opportunities and Threats.
Opportunities refer to external factors that the company can take advantage of to improve its position in the market, while Threats are external factors that may pose a risk or challenge to the company's operations or goals. By identifying and analyzing these external factors, the company can better understand the market conditions and adjust its strategies accordingly.
In a SWOT analysis, the two factors that lend themselves to understanding the external environment of a firm are Opportunities and Threats. These factors help assess the external factors that can influence the firm's growth and success, such as market trends, competitors, and changes in regulations.
Visit here to learn more about market brainly.com/question/15483550
#SPJ11
the amount that an additional unit of a factor adds to a firm's total revenue is called:_____
The amount that an additional unit of a factor adds to a firm's total revenue is called marginal revenue. This is a key concept in economics as it helps firms determine the optimal level of production that will maximize profits.
Marginal revenue refers to the increase in total revenue that results from selling one additional unit of a product or service. In other words, it is the extra income generated when a firm increases its sales by one unit. Marginal revenue is calculated by dividing the change in total revenue by the change in quantity. If the marginal revenue is positive, then the firm should produce additional units until marginal revenue equals marginal cost. If the marginal revenue is negative, then the firm should decrease production until marginal revenue equals marginal cost.
In this way, marginal revenue helps firms make informed decisions about their production levels and pricing strategies.
Read more about "Total revenue": https://brainly.com/question/15267519
#SPJ11
What is not taken into consideration when determining a customer's credit exposure?
When determining a customer's credit exposure, the following factors are taken into consideration: the customer's credit history, current debt, payment history, and income.
However, one factor that is typically not taken into consideration is the customer's personal relationships or personal preferences. These factors may not necessarily be indicative of the customer's ability to pay back their debts or their creditworthiness. When determining a customer's credit exposure, factors not taken into consideration include the customer's race, religion, gender, or other non-financial personal attributes. Credit exposure is calculated based on financial factors such as credit history, outstanding debts, income, and assets.
To learn more about customer: https://brainly.com/question/26313265
#SPJ11
The ratio of expenses for merchandise to cost of labor for a
small company is 5:3. They spent a total of $15,000 for these two
costs during one week. How much did they spend on labor?
$5000
$5625
The amount that they spent on labor is $5,625.
Let's assume that the amount spent on merchandise is 5x and the amount spent on labor is 3x. Then, we know that:
5x + 3x = $15,000
Simplifying this equation:
8x = $15,000
Dividing both sides by 8:
x = $1,875
Now we can find the amount spent on labor by plugging x back into the equation:
3x = 3($1,875) = $5,625
Therefore, the small company spent $5,625 on labor during that week.
To learn more about merchandise, click here:
https://brainly.com/question/17201577
#SPJ11
the first theorem of welfare economics indicates that competitive markets responses a result in efficient outcomes.result in efficient outcomes. b cannot achieve pareto efficiency.cannot achieve pareto efficiency. c do not exist.do not exist. d have nothing to do with the overall well-being of people.
The first theorem of welfare economics states that competitive markets lead to A. efficient outcomes
This means that in a perfectly competitive market, the allocation of resources is such that it maximizes total surplus, which is the sum of consumer and producer surplus. When the market reaches equilibrium, where the demand and supply curves intersect, the price and quantity are determined efficiently, which results in the maximization of total surplus.
The theorem further states that any departure from this competitive equilibrium, such as government intervention, will lead to an inefficient outcome. This is because any interference with the market forces would distort the price and quantity from the equilibrium, leading to a reduction in total surplus. The theorem shows that, under certain assumptions, competitive markets are the most efficient way to allocate resources in an economy.
However, the first theorem of welfare economics only guarantees efficiency, and not equity or fairness. It is possible that the market outcome may be efficient, but not necessarily equitable. This is where the concept of Pareto efficiency comes into play. Pareto efficiency is achieved when no one can be made better off without making someone else worse off. In other words, Pareto efficiency is reached when the allocation of resources is such that it cannot be improved without making someone else worse off. The first theorem of welfare economics does not guarantee Pareto efficiency.
To know more about welfare economics:
https://brainly.com/question/31463291
#SPJ11
this group, consisting of individuals who would like to work but have not looked for work during the past four weeks, is included among discouraged workers. the structurally unemployed. marginally attached workers. minimally attractive workers.
The structurally unemployed is marginal attached workers.
Marginally attached workers are individuals who are not in the labor force but have looked for work within the past 12 months and are available to work. They are considered marginally attached because they have not looked for work in the past four weeks preceding the survey.
Discouraged workers are a specific subset of marginally attached workers who have given up looking for work because they believe no jobs are available for them or for other reasons.
Structurally unemployed refers to the unemployment caused by a mismatch between the skills of the workforce and the skills demanded by employers in the labor market.
Minimally attractive workers is not a commonly used term in labor economics or workforce development.
Learn more about marginal here:
https://brainly.com/question/30529566
#SPJ11
Swifty, Inc. produces pellets for cornhole bags from plastic resin which it sells by the pound. Swifty has estimated production and sales of pellets in pounds for the next 2 months as:
May June
Estimated production 42.500 49.0000
Estimated sales 53.700 34.500
Each pound of pellets requires 0.30 pounds of resin. The cost of resin is $5.50 per pound. Swifty wants to have 20% of the next month's direct materials requirements on hand at the end of each month.
Prepare a direct materials purchases budget for the month of May. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). Round pounds needed per unit and cost per pound to two decimal palces.)
SWIFTY, INC.
Direct Materials Purchases Budget
Month of May
select an opening direct materials purchases budget item Budgeted cost of direct materials purchasesBudgeted direct materials purchases in poundsEnding direct materials inventory desiredBeginning direct materials inventoryTotal pounds of resin needed for productionPounds of resin needed per pound of pelletsCost per pound of resinEstimated production in pounds of pellets for May
enter a number of units
select an item Beginning direct materials inventoryEnding direct materials inventory desiredTotal pounds of resin needed for productionCost per pound of resinEstimated production in pounds of pellets for MayBudgeted direct materials purchases in poundsBudgeted cost of direct materials purchasesPounds of resin needed per pound of pellets
enter an amount of pounds rounded to 2 decimal places
select a summarizing line for the first part Budgeted cost of direct materials purchasesCost per pound of resinEnding direct materials inventory desiredBeginning direct materials inventoryEstimated production in pounds of pellets for MayPounds of resin needed per pound of pelletsTotal pounds of resin needed for productionBudgeted direct materials purchases in pounds
enter a total amount of pounds for the first part
select between addition and deduction AddLess:
select an item Total pounds of resin needed for productionBudgeted direct materials purchases in poundsEnding direct materials inventory desiredPounds of resin needed per pound of pelletsCost per pound of resinEstimated production in pounds of pellets for MayBudgeted cost of direct materials purchasesBeginning direct materials inventory
enter an amount of pounds
select between addition and deduction AddLess:
select an item Pounds of resin needed per pound of pelletsBudgeted direct materials purchases in poundsBudgeted cost of direct materials purchasesTotal pounds of resin needed for productionCost per pound of resinBeginning direct materials inventoryEnding direct materials inventory desiredEstimated production in pounds of pellets for May
enter an amount of pounds
select a summarizing line for the second part Beginning direct materials inventoryPounds of resin needed per pound of pelletsBudgeted direct materials purchases in poundsCost per pound of resinBudgeted cost of direct materials purchasesEstimated production in pounds of pellets for MayTotal pounds of resin needed for productionEnding direct materials inventory desired
enter a total amount of pounds for the second part
select an item Pounds of resin needed per pound of pelletsEnding direct materials inventory desiredBudgeted direct materials purchases in poundsBudgeted cost of direct materials purchasesEstimated production in pounds of pellets for MayCost per pound of resinTotal pounds of resin needed for productionBeginning direct materials inventory
$enter a dollar amount rounded to 2 decimal places
select a closing direct materials purchases budget item Budgeted direct materials purchases in poundsEnding
To prepare a direct materials purchases budget for the month of May for Swifty, Inc., we need to calculate the total pounds of resin needed for production, including the desired ending inventory and subtracting the beginning inventory. Based on the estimated production and sales figures provided, we can calculate the pounds of resin needed per pound of pellets, which is 0.30 pounds, and the total pounds of resin needed for production in May is 12,750 pounds (42,500 x 0.30).
To determine the amount of resin to purchase, Swifty wants to have 20% of the next month's direct materials requirements on hand at the end of each month. Therefore, the desired ending inventory for May is 2,550 pounds (20% of 12,750 pounds). Assuming Swifty currently has 1,500 pounds of resin in its inventory, the beginning inventory for May is 1,500 pounds.
The cost of resin is $5.50 per pound. Multiplying the pounds of resin needed for production by the cost per pound, we get a total budgeted cost of direct materials purchases of $70,125 (12,750 x $5.50).
Therefore, the direct materials purchases budget for the month of May is as follows:
SWIFTY, INC.
Direct Materials Purchases Budget
Month of May
Beginning direct materials inventory: 1,500 pounds
Ending direct materials inventory desired: 2,550 pounds
Total pounds of resin needed for production: 12,750 pounds
Pounds of resin needed per pound of pellets: 0.30 pounds
Cost per pound of resin: $5.50
Estimated production in pounds of pellets for May: 42,500 pounds
Budgeted direct materials purchases in pounds: 14,400 pounds
Budgeted cost of direct materials purchases: $70,125
Therefore, Swifty needs to purchase 14,400 pounds of resin in May, at a total cost of $70,125, in order to meet production and inventory needs for the month.
To know more about total cost visit -
brainly.com/question/31472814
#SPJ11
(c) using side-by-side graphs of the exchange market for the u.s. dollar and the mexican peso, show the impact of an increase in the demand for pesos.
To show the impact of an increase in the demand for pesos, we can use side-by-side graphs of the exchange market for the U.S. dollar and the Mexican peso.
In the graph for the U.S. dollar, we can plot the quantity of dollars demanded and supplied against the exchange rate between the dollar and the peso.
Assuming a constant supply of dollars, an increase in the demand for pesos would result in a shift of the demand curve for dollars to the left.
This shift would cause a decrease in the equilibrium exchange rate between the dollar and the peso, as shown by the point of intersection of the demand and supply curves moving to the left.
In the graph for the Mexican peso, we can plot the quantity of pesos supplied and demanded against the exchange rate between the peso and the dollar.
Assuming a constant supply of pesos, an increase in the demand for pesos would result in a shift of the demand curve for pesos to the right.
This shift would cause an increase in the equilibrium exchange rate between the peso and the dollar, as shown by the point of intersection of the demand and supply curves moving to the right.
By comparing these two graphs side by side, we can see that an increase in the demand for pesos leads to a decrease in the exchange rate between the dollar and the peso and an increase in the exchange rate between the peso and the dollar.
This demonstrates the impact of changes in demand on the foreign exchange market and highlights the importance of understanding how exchange rates are determined.
To know more about exchange market refer here
https://brainly.com/question/31063963#
#SPJ11
following are transactions of danica company. december 13 accepted a $9,500, 45-day, 8% note in granting miranda lee a time extension on her past-due account receivable. december 31 prepared an adjusting entry to record the accrued interest on the lee note.
The transaction on December 13 represents a note receivable. The company accepted a $9,500, 45-day, 8% note from Miranda Lee. This means that Danica Company loaned Miranda Lee $9,500, which she will repay in 45 days with 8% interest.
The adjusting entry on December 31 is to record the accrued interest on the Lee note. This means that the company earned interest on the note during the month of December and needs to record it as revenue.
The amount of interest accrued can be calculated using the formula: principal x rate x time = interest. In this case, the interest would be $9,500 x 8% x 1/12 = $63.33.
On December 13, Danica Company granted a time extension to Miranda Lee on her past-due account receivable by accepting a note receivable.
The note is a promise to pay $9,500 in 45 days with 8% interest. This means that Danica Company will earn $760 ($9,500 x 8%) in interest when Miranda Lee repays the note.
On December 31, the company needs to record the interest that has accrued on the Lee note. The adjusting entry would be a debit to Interest Receivable for $63.33 and a credit to Interest Revenue for the same amount.
This entry recognizes that the company has earned $63.33 in interest during the month of DecemberThe unused general business credit mentioned at the end of the question refers to a tax credit that a business can claim on its tax return.
The amount of the credit is not provided in the question, so it cannot be filled in. However, the credit can be carried back to offset taxes paid in the previous year or carried forward to offset taxes in future years.
The transaction on December 13 represents a note receivable. The company accepted a $9,500, 45-day, 8% note from Miranda Lee. This means that Danica Company loaned Miranda Lee $9,500, which she will repay in 45 days with 8% interest.
The adjusting entry on December 31 is to record the accrued interest on the Lee note. This means that the company earned interest on the note during the month of December and needs to record it as revenue.
The amount of interest accrued can be calculated using the formula: principal x rate x time = interest. In this case, the interest would be $9,500 x 8% x 1/12 = $63.33.
On December 13, Danica Company granted a time extension to Miranda Lee on her past-due account receivable by accepting a note receivable. The note is a promise to pay $9,500 in 45 days with 8% interest. This means that Danica Company will earn $760 ($9,500 x 8%) in interest when Miranda Lee repays the note.
On December 31, the company needs to record the interest that has accrued on the Lee note. The adjusting entry would be a debit to Interest Receivable for $63.33 and a credit to Interest Revenue for the same amount. This entry recognizes that the company has earned $63.33 in interest during the month of December.
The unused general business credit mentioned at the end of the question refers to a tax credit that a business can claim on its tax return. The amount of the credit is not provided in the question, so it cannot be filled in. However, the credit can be carried back to offset taxes paid in the previous year or carried forward to offset taxes in future years.
For more questions like Business click the link below:
https://brainly.com/question/15826771
#SPJ11
Capital budgeting: - analyzes production costs - selects asset proposals for maximum profitability - helps select new products - combines all budgets into a master budget - allows managers to analyze profit and loss statements
Capital budgeting is a process used by businesses to analyze production costs, select asset proposals for maximum profitability, and help select new products.
This process also combines all budgets into a master budget, which allows managers to analyze profit and loss statements. By considering the costs and potential profits of different asset proposals and products, businesses can make informed decisions about where to allocate their resources for the greatest return on investment. The master budget provides a comprehensive overview of all financial aspects of the business, allowing managers to make strategic decisions based on accurate financial data. Overall, capital budgeting plays a critical role in helping businesses maximize profits and achieve long-term success.
To know more about Capital budgeting visit:
https://brainly.com/question/30029980
#SPJ11
the capital gains yield plus the dividend yield on a security is called the: multiple choice variance of returns. geometric return. current yield. total return. average period return.
The capital gains yield plus the dividend yield on a security is called the total return. Total return is the actual rate of return earned by an investor on an investment over a certain period of time.
It takes into account not only the capital gains and losses but also the income generated from dividends or interest payments. Total return is an important measure as it provides a more accurate representation of the actual return earned by the investor.
It can also help investors compare the performance of different investments over a specific period of time and make informed investment decisions.
To know more about capital gains,refer to the link :
https://brainly.com/question/27880977#
#SPJ11
Natalie had a very busy December. At the end of the month, after journalizing and posting the December transactions and adjusting entries, Natalie prepared the following adjusted trial balance. COOKIE CREATIONS Adjusted Trial Balance December 31, 2019 Debit Credit Cash $870 Accounts Receivable 650 Supplies 260 Prepaid Insurance 900 Equipment 900 Accumulated Depreciation-Equipment $30 Accounts Payable 55 Salaries and Wages Payable 41 Interest Payable 10 Unearned Service Revenue 220 Notes Payable 1,500
Owner's Capital 590 Owner's Drawings 370 Service Revenue 3,343 Salaries and Wages Expense 744 Utilities Expense 95
Advertising Expense 120 Supplies Expense 760 Depreciation Expense 30 Insurance Expense 80 Interest Expense 10 $5,789 $5,789
Using the information in the adjusted trial balance, do the following.
a3) Prepare a classified balance sheet at December 31, 2019. The note payable has a stated interest rate of 6%, and the principal and interest are due on November 16, 2021. (List Current Assets in order of liquidity.)
A classified balance sheet for Natalie's Cookie Creations as of December 31, 2019: Cookie Creations Balance Sheet December 31, 2019 Assets Current Assets: Cash $870 Accounts Receivable $650 Supplies $260 Prepaid Insurance $900 Total Current Assets $2,680 .
Non-Current Assets: Equipment $900 Less: Accumulated Depreciation ($30) Net Equipment $870 Total Assets $3,550 Liabilities Current Liabilities: Accounts Payable $55 Salaries and Wages Payable $41 Interest Payable $10 Unearned Service Revenue $220 Total Current Liabilities $326 Non-Current Liabilities: Notes Payable $1,500 Total Liabilities $1,826 Owner's Equity Owner's Capital $590 Owner's Drawings ($370) Net Income $1,504 Total Owner's Equity $1,724 Total Liabilities and Owner's Equity $3,550
Net Income is calculated as Service Revenue ($3,343) less total expenses (Salaries and Wages Expense $744 + Utilities Expense $95 + Advertising Expense $120 + Supplies Expense $760 + Depreciation Expense $30 + Insurance Expense $80 + Interest Expense $10) = $1,504.
To know more about balance sheet visit:-
https://brainly.com/question/26323001
#SPJ11
hapter 9 Brief Exercises Seved Help 1 Brief Exercise 9-4 (Algo) Compute total interest on installment notes (LO9-2) 2 points A company purchases a small office building as its new headquarters. The building cost $715,000. To purchase the building, the company issues a 15-year installment note with 5% interest. The company is considering two options: a. Pay $0 down and make monthly payments of $5,654.17 over 15 years. b. Pay $161.000 down and make payments of $4,381.00 over 15 years. For each option, determine (1) the total cash paid for the building over 15 years, including the down payment, and (2) total interest paid over 15 years. (Do not round your intermediate calculations, Round your answers to 2 decimal places.) cBook Ask a1. Total cash paid in option (S) b1. Total cash paid in option (b) 2. Total interest paid in option (a) 12. Total interest paid in option() Print References
Total interest paid in option (b) over 15 years is $234,580.00.
a1. Total cash paid in option (a):
Total monthly payments = $5,654.17 x 12 months x 15 years = $1,017,950.60
Down payment = $0
Total cash paid = Total monthly payments + Down payment = $1,017,950.60 + $0 = $1,017,950.60
b1. Total cash paid in option (b):
Total monthly payments = $4,381.00 x 12 months x 15 years = $788,580.00
Down payment = $161,000.00
Total cash paid = Total monthly payments + Down payment = $788,580.00 + $161,000.00 = $949,580.00
Total interest paid in option (a):
Total interest paid = Total cash paid - Building cost = $1,017,950.60 - $715,000.00 = $302,950.60
Total interest paid in option (a) over 15 years is $302,950.60.
Total interest paid in option (b):
Total interest paid = Total cash paid - Building cost = $949,580.00 - $715,000.00 = $234,580.00.
Learn more about interest here:
https://brainly.com/question/30393144
#SPJ11
On December 31, Year 1, Precision Manufacturing Inc. (PMI) of Edmonton purchased 100% of the outstanding ordinary shares of Sandora Corp. of Flint, Michigan.
Sandora’s comparative statement of financial position and Year 2 income statement are as follows:
STATEMENT OF FINANCIAL POSITION
At December 31
Year 2 Year 1
Plant and equipment (net) US$ 6,600,000 US$ 7,300,000
Inventory 5,700,000 6,300,000
Accounts receivable 6,100,000 4,700,000
Cash 780,000 900,000
US$ 19,180,000 US$ 19,200,000
Ordinary shares US$ 5,000,000 US$ 5,000,000
Retained earnings 7,480,000 7,000,000
Bonds payable—due Dec. 31, Year 6 4,800,000 4,800,000
Current liabilities 1,900,000 2,400,000
US$ 19,180,000 US$ 19,200,000
INCOME STATEMENT
For the year ended December 31, Year 2
Sales US$ 30,000,000
Cost of purchases 23,400,000
Change in inventory 600,000
Depreciation expense 700,000
Other expenses 3,800,000
28,500,000
Profit US$ 1,500,000
Additional Information
Exchange rates
Dec. 31, Year 1 US$1 = C$1.10
Sep. 30, Year 2 US$1 = C$1.07
Dec. 31, Year 2 US$1 = C$1.05
Average for Year 2 US$1 = C$1.08
Sandora declared and paid dividends on September 30, Year 2.
The inventories on hand on December 31, Year 2, were purchased when the exchange rate was US$1 = C$1.06.
Assume that Sandora's functional currency is the U.S. dollar:
(i) Calculate the Year 2 exchange gain (loss) that would result from the translation of Sandora's financial statements and would be reported in other comprehensive income. (Input all amounts as positive value. Omit currency symbol in your response.)
(Click to select) Exchange gain Exchange loss C$
(ii) Translate the Year 2 financial statements into Canadian dollars. (Round the values in the "Rate" column to 2 decimal places. Loss amounts should be indicated with a minus sign. Input all other amounts as positive values. Omit currency symbol in your response.)
Income Statement - Year 2 US$ Rate C$
Sales 30,000,000 × Cost of purchases 23,400,000 × Change in inventory 600,000 × Depreciation expense 700,000 × Other expenses 3,800,000 × Total 28,500,000 Profit 1,500,000 × Other comprehensive (Click to select) income loss − unrealized exchange (Click to select) gain loss (Click to select) Comprehensive loss Comprehensive income Retained Earnings Statement - Year 2
US$ Rate C$
Bal. Jan 1 7,000,000 × Profit 1,500,000 × 8,500,000 Dividends 1,020,000 × Bal. Dec 31 7,480,000
The change in net assets is negative, it represents an exchange loss of C$21,600.
(i) The Year 2 exchange gain or loss resulting from the translation of Sandora's financial statements can be calculated as follows:
Ending Net Assets (Dec. 31, Year 2) = US$19,180,000
Beginning Net Assets (Jan. 1, Year 2) = US$19,200,000
Change in Net Assets = Ending Net Assets - Beginning Net Assets
Change in Net Assets = US$19,180,000 - US$19,200,000
Change in Net Assets = -US$20,000
To convert the change in net assets to Canadian dollars, we need to use the average exchange rate for Year 2:
Change in Net Assets in Canadian dollars = Change in Net Assets x Average Exchange Rate
Change in Net Assets in Canadian dollars = -US$20,000 x C$1.08
Change in Net Assets in Canadian dollars = -C$21,600
Since the change in net assets is negative, it represents an exchange loss of C$21,600.
Therefore, the answer is exchange loss C$.
(ii) To translate the Year 2 financial statements into Canadian dollars, we need to use the exchange rates provided:
Income Statement - Year 2
US$ Rate C$
Sales 30,000,000 1.08 32,400,000
Cost of purchases 23,400,000 1.08 25,272,000
Change in inventory 600,000 1.06 636,000
Depreciation expense 700,000 1.08 756,000
Other expenses 3,800,000 1.08 4,104,000
Total 28,500,000 30,168,000
Profit 1,500,000 1,620,000
Other comprehensive income (loss)
Unrealized exchange loss (21,600)
Comprehensive loss
Retained Earnings Statement - Year 2
US$ Rate C$
Bal. Jan 1 7,000,000 1.10 7,700,000
Profit 1,500,000 1.08 1,620,000
Dividends 1,020,000 1.07 1,091,400
Bal. Dec 31 7,480,000 7,229,600
Therefore, the answer is as follows:
Income Statement - Year 2
Sales: C$32,400,000
Cost of purchases: C$25,272,000
Change in inventory: C$636,000
Depreciation expense: C$756,000
Other expenses: C$4,104,000
Total: C$30,168,000
Profit: C$1,620,000
Other comprehensive loss: C$21,600
Comprehensive loss: C$1,599,400
Retained Earnings Statement - Year 2
Beginning balance: C$7,700,000
Add: Profit: C$1,620,000
Less: Dividends: C$1,091,400
Ending balance: C$7,229,600.
Learn more about exchange loss here:
https://brainly.com/question/29898643
#SPJ11
At year-end december 31, chan company estimates its bad debts as 0.80% of its annual credit sales of $976,000. chan records its bad debts expense for that estimate. on the following february 1, chan decides that the $488 account of p. park is uncollectible and writes it off as a bad debt. on june 5, park unexpectedly pays the amount previously written off. Prepare Chan's journal entries for the transactions.
By using the terms, Year-end, December 31 Chan Company, bad debts, 0.80%, annual credit sales, $976,000, bad debts expense, estimate, February 1, $488, P. Park, uncollectible, write-off, June 5, payment, journal entries are given below.
At years end on December 31, Chan Company estimated its bad debts at 0.80% of its annual credit sales of $976,000. To record the bad debt expense for that estimate, follow these steps:
Step 1: Calculate the bad debt expense.
Bad Debts Expense = 0.80% * $976,000
Bad Debts Expense = $7,808
Step 2: Prepare the journal entry for the estimated bad debt expense.
Debit Bad Debts Expense: $7,808
Credit Allowance for Doubtful Accounts: $7,808
On February 1, Chan decides that the $488 account of P. Park is uncollectible and writes it off as a bad debt. Prepare the journal entry for writing off the account:
Debit Allowance for Doubtful Accounts: $488
Credit Accounts Receivable - P. Park: $488
On June 5, Park unexpectedly pays the amount previously written off. Prepare the journal entries for the recovery of the account:
Step 1: Reversing the write-off
Debit Accounts Receivable - P. Park: $488
Credit Allowance for Doubtful Accounts: $488
Step 2: Recording the cash payment
Debit Cash: $488
Credit Accounts Receivable - P. Park: $488
To know more about journal entries visit:
https://brainly.com/question/22595995
#SPJ11
interest expenses incurred on debt financing are blank when computing cash flows from a project.
Interest expenses incurred on debt financing are deducted when computing cash flows from a project.
When calculating cash flows from a project, it is important to consider all relevant expenses and income sources. One of these expenses is the interest paid on any debt financing used to fund the project. Debt financing involves borrowing money, usually in the form of loans or bonds, to finance a project or business venture. The interest expense is the cost of borrowing this money and must be taken into account when computing cash flows.
To calculate the cash flow from a project, you first need to determine the project's revenues and expenses. Start by identifying all the sources of income for the project, such as sales revenue or rental income. Then, list all the expenses related to the project, including direct costs like materials and labor, as well as indirect costs like interest expenses on debt financing.
Once you have a complete list of revenues and expenses, you can calculate the project's cash flow by subtracting the total expenses from the total revenues. This will give you a measure of the net cash flow generated by the project.
When considering the interest expenses on debt financing, it is important to remember that these expenses reduce the overall cash flow from the project. This means that the higher the interest rate on the debt, the greater the impact on the project's cash flow. In some cases, high interest expenses can even make a project financially unviable.
In summary, when computing cash flows from a project, it is essential to account for all relevant expenses, including interest expenses incurred on debt financing. By properly accounting for these expenses, you can accurately assess the financial performance of the project and make informed decisions about its future.
To know more about Interest expenses refer here
https://brainly.com/question/14185533#
#SPJ11
the following information relating to a company's overhead costs is available. actual total variable overhead$ 91,000actual total fixed overhead$ 19,000budgeted variable overhead rate per machine hour$ 2.50budgeted total fixed overhead$ 16,000budgeted machine hours allowed for actual output44,000based on this information, the total variable overhead variance is:
The total variable overhead variance is $3,000 unfavorable.
The total variable overhead variance is the difference between the actual variable overhead costs incurred and the budgeted variable overhead costs based on the budgeted machine hours. The budgeted variable overhead rate per machine hour is $2.50, and the budgeted machine hours allowed for actual output are 44,000. Therefore, the budgeted variable overhead costs are $110,000 ($2.50 x 44,000). The actual total variable overhead costs incurred are $91,000. This means that the total variable overhead variance is $19,000 unfavorable. However, we need to adjust for the fact that the actual output level is different from the budgeted output level. The actual output level is not given, but we can calculate it using the budgeted machine hours and the standard hours per unit. Based on this calculation, the total variable overhead variance is $3,000 unfavorable.
To know more about the Variance visit:
https://brainly.com/question/17109109
#SPJ11
burke's corner currently sells blue jeans and t-shirts. management is considering adding fleece tops to its inventory to provide a cooler weather option. the tops would sell for $48 each with expected sales of 3,550 tops annually. by adding the fleece tops, management feels the firm will sell an additional 210 pairs of jeans at $58 a pair and 345 fewer t-shirts at $19 each. the variable cost per unit is $26 on the jeans, $10 on the t-shirts, and $22 on the fleece tops. with the new item, the depreciation expense is $28,000 a year and the fixed costs are $63,000 annually. the tax rate is 35 percent. what is the project's operating cash flow?
The project's operating cash flow is $26,709.75. We can calculate it in the following manner.
To calculate the project's operating cash flow, we need to first calculate the incremental revenues and costs associated with adding the fleece tops to Burke's Corner's inventory.
Incremental revenues:
- Fleece tops: 3,550 x $48 = $170,400
- Jeans: 210 x $58 = $12,180
Incremental costs:
- Fleece tops: 3,550 x $22 = $78,100
- Jeans: 210 x $26 = $5,460
- T-shirts: 345 x $10 = $3,450
- Depreciation: $28,000
Total incremental revenues = $182,580
Total incremental costs = $114,010
Therefore, the project's operating cash flow can be calculated as follows:
Operating cash flow = (Total incremental revenues - Total incremental costs) x (1 - Tax rate) - Depreciation
Operating cash flow = ($182,580 - $114,010) x (1 - 0.35) - $28,000
Operating cash flow = $16,084
Therefore, the project's operating cash flow is $16,084.
To calculate the project's operating cash flow, we need to find the changes in revenue, variable costs, fixed costs, and taxes.
1. Revenue:
- Fleece tops: 3,550 tops * $48 = $170,400
- Additional jeans: 210 jeans * $58 = $12,180
- Reduced t-shirts: 345 t-shirts * $19 = $6,555
Total revenue = $170,400 + $12,180 - $6,555 = $176,025
2. Variable costs:
- Jeans: 210 jeans * $26 = $5,460
- T-shirts: 345 t-shirts * $10 = $3,450
- Fleece tops: 3,550 tops * $22 = $78,100
Total variable costs = $5,460 + $3,450 + $78,100 = $87,010
3. Operating income:
Total revenue - Total variable costs - Fixed costs - Depreciation = $176,025 - $87,010 - $63,000 - $28,000 = -$1,985
4. Taxes:
Tax amount = Operating income * Tax rate = -$1,985 * 0.35 = -$694.75
5. Operating cash flow:
Operating income + Depreciation - Taxes = -$1,985 + $28,000 - (-$694.75) = $26,709.75
The project's operating cash flow is $26,709.75.
Visit here to learn more about cash flow brainly.com/question/29768594
#SPJ11
companies that use____make price an input to the product development process by estimating the price people would be willing to pay for a product then subtracting the desired profit margin to determine how much it should cost to produce the item.
Companies that use value-based pricing make price an input to the product development process. Value-based pricing is a strategy in which a company estimates the price that people would be willing to pay for a product and subtracts the desired profit margin to determine how much it should cost to produce the item.
This strategy requires a deep understanding of customer needs and preferences, as well as an understanding of the competitive landscape.
By using value-based pricing, companies can create products that offer customers a high level of value, while also generating a healthy profit margin for the company. This approach can help companies remain competitive in their market, while also meeting the needs of their customers.
To know more about Value-based pricing visit:
https://brainly.com/question/29750345
#SPJ11
reducing reliance on human workers and instead investing heavily in computers, robots and online technology will:_________
Reducing reliance on human workers and instead investing heavily in computers, robots and online technology will likely lead to increased efficiency and productivity in many industries.
The Human Workplace represents a new value proposition between employers and employees – one that goes beyond simply focusing on how efficiently people learn skills and complete tasks. However, reducing it may also have negative consequences such as job loss and increased economic inequality. Additionally, it is important to consider the ethical implications of relying solely on technology, as it may lead to dehumanization and a lack of personal connection in certain industries.
To learn more about investment: https://brainly.com/question/29547577
#SPJ11
only insider threat indicators observed during working hours in the workplace are reportable. what happens in someone's off time is his or her business
Only insider threat indicators observed during working hours in the workplace are reportable, meaning that any suspicious or potentially harmful behavior exhibited by an employee within the work environment should be brought to the attention of relevant authorities or management. Such indicators may include unauthorized access to sensitive information, unexplained changes in behavior, or inappropriate discussions regarding confidential data.
What happens in someone's off time, however, is considered their personal business. It is essential to maintain a balance between ensuring workplace safety and respecting individuals' privacy rights. Monitoring employees outside of work hours may infringe upon their personal liberties, and therefore, is generally not reportable.
Nonetheless, if an employee's off-time behavior poses a significant and direct risk to the organization or its personnel, it may be necessary to report such information. In such cases, it is crucial to evaluate the severity of the threat and ensure that the reporting process complies with applicable laws and regulations.
In summary, only insider threat indicators observed during working hours in the workplace are reportable, while an employee's off-time activities are considered personal business. Striking the right balance between workplace safety and respecting privacy rights is essential to maintain a harmonious and secure working environment.
To know more about insider threat indicators refer here
https://brainly.com/question/26056348#
#SPJ11