Answer:
The amount of annual payments is $2,400.
Explanation:
Given that Tony has obtained a loan for $ 20,000 at an interest rate of 4% per year, and that he has agreed to pay said loan from 15 annual payments beginning after the end of 5 years, we can say that said interest rate will apply to 20 years (the initial 5 without payment, plus the 15 in which Tony will make annual payments). Thus, a final interest of 80% should be applied to the initial sum, which arises from the multiplication of the years by the annual interest rate (20 x 4).
Thus, to the initial amount of $ 20,000 will be added an interest of $ 16,000 (20,000 x 0.8), totaling an amount to be paid of $ 36,000. Then, since that amount will be paid in 15 annual payments, each of those payments will be made for a value of $ 2,400 (36,000 / 15).
CEO reduced the list of candidates to include only those applicants the CEO found acceptable. The CEO is implementing the political strategy of controlling the agenda. being irreplaceable. overlapping authority. emphasizing status inconsistency. relying on objective information.
Answer:
A). Controlling the agenda.
Explanation:
The CEO is here executing the political strategy of 'controlling the agenda' as he is controlling that which candidates would go further and selected for different processes. It will help him in directing the attention on candidates which he wants and limit the decision(regarding the selection of candidates) to the only ones which she/he finds desirable/acceptable. It will allow him in having a political edge and control over the decisions and have an adavantage according to the situation. Thus, option A is the correct answer.
Marco was a furniture buyer for Wellart Department Stores. Marco was authorized to enter into contracts worth up to $50,000. Marco entered into a contract with Frank's Furniture to purchase $100,000 worth of dining room furniture. If Wellart refuses to honor the contract and Frank's sues:
Answer:
Frank's will win, as Marco had implied and/or apparent authority.
Explanation:
Frank's will win, as Marco had implied and/or apparent authority.
Express authority is the authority which the principal has expressly given to the agent whether in a written or orally form.
Implied authority ( it can as well be described as usual authority) is the authority of an agent to acts which are reasonably incidental to and necessary for the effective performance of his duties.
So relating the above to the situation at hand, Mark acted based on the authority given to him by Wellart Department Stores. It was an implied authority.
Percent of sales method; write-off
At year-end (December 31), Chan Company estimates its bad debts as 0.5% of its annual credit sales of $975,000. Chan records its Bad Debts Expense for that estimate. On the following February 1, Chan decides that the $580 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 the journal entries of Chan to record these transactions and events of December 31, February 1, and June 5.
Answer:
Entries are given below
Explanation:
On 31 Dec Chan company estimates its bad debts as 0.5% of all credit sales
DEBIT CREDIT
Bad Debt(975,000x0.5%) $4875
Allowance for bad debt $4875
On February 1, Chan decides that the $580 account of P. Park is uncollectible
DEBIT CREDIT
Allowance for bad debt $580
Receivables $580
On June 5, Park unexpectedly pays the amount previously written off.
DEBIT CREDIT
Receivables (reinstated) $580
Allowance for bad debt (reinstated) $580
Cash (amount received) $580
Receivables $580
What is asset allocation? Why is this used?
Answer:
Asset allocation is an investment portfolio technique that aims to balance risk by dividing assets among major categories such as cash, bonds, stocks, real estate, and derivatives. Each asset class has different levels of return and risk, so each will behave differently over time :)
Explanation:
your welcome! :D
Cathy, age 16, buys a 1973 Chevy Camaro from Mark, age 23, for $400. Cathy's indulgent parents, who give her everything she wants, loaned her the money for the car. The reason for Cathy's purchase is that all her friends have cars and she feels left out without one. One week after buying the car, however, Cathy changes her mind and tells Mark that she wants to disaffirm the contract. When Mark comes to pick up the car and give Cathy her money, Cathy changes her mind again, telling Mark, "I'll stick by the deal." However, when Cathy's parents gave her a new car for her 17th birthday, she finally decides to disaffirm once again. Which of the following is correct?
A. Cathy can still disaffirm.
B. Cathy cannot disaffirm because she ratified the contract by saying "I'll stick by the deal."
C. Cathy cannot disaffirm because we have a sale of goods and Article 2 of the Uniform Commercial Code says that 16 is the age of contractual capacity.
D. Cathy cannot disaffirm because the car is a necessary.
Answer:
A. Cathy can still disaffirm.
Explanation:
Since Cathy is a minor, she shouldn't engage in contracts unless they involve basic necessities, e.g. food or shelter, and she can disaffirm a contract anytime before she reaches her 18th birthday. This is the reason why generally sellers require the parents to sign or give their consent to the contracts signed by minors.
Kate also wishes to pay dividends on both her common shares and the preferred stock. She is a little confused between cash and stock dividends. Explain the difference between a cash dividend and a stock dividend. Since Kate is the only stock-holder of the common stock, what would be the effect of issuing a 10 percent stock dividend
Find the answers in the explanation below
Explanation:
Cash dividend: Cash dividend is dividend that is paid in cash to shareholders in the event that the company or firm does not need the money for any kind of operation. This means that the company is giving economic value to its shareholders. This transfer of economic value to shareholder means that the shares price of the company will drop. An example is a company having a share dividend of 5%. That means that the price of the company shares will fall by 5%.
Stock dividend: Stock dividend unlike cash dividend is increase stock dividend as well as help stockholders to avoid tax. This subsequently does not increase the value of the company. For example, if stock dividend of a company is 5% and as much as 1 million shares, when stock dividends are declared the stockholder gets extra of 50,000 shares. The stock holder can either keep the shares or sell it to create his own
Cheers
A man is running on the straightroad with the uniform velocity of 3m/s. Calculate acceleration produced by him.
Answer:
acceleration =0 m/s^2
Explanation:
Acceleration is defined as the rate of change in velocity. If there’s no change in velocity, then the rate of change is zero, hence the acceleration is zero. The question says the man is running at a uniform velocity (i.e. he’s running at a steady speed in a fixed direction). This means his velocity is constant, or unchanging. Hence, his acceleration is zero.
Obviously everything I said in the above paragraph only concerns his horizontal velocity. To get even more specific, it only concerns the horizontal velocity of his centre of mass. Vertically, he is of course experiencing upward and downward downward acceleration due to how his feet push against the floor as he runs. And his limbs accelerate and decelerate as well, to allow him to run.
But looking at the man’s horizontal motion as a whole, and thinking of his motion as being entirely represented by his centre of mass, his acceleration is 0.
McCoy's Fish House purchases a tract of land and an existing building for $940,000. The company plans to remove the old building and construct a new restaurant on the site. In addition to the purchase price, McCoy pays closing costs, including title insurance of $2,400. The company also pays $12,800 in property taxes, which includes $8,400 of back taxes (unpaid taxes from previous years) paid by McCoy on behalf of the seller and $4,400 due for the current fiscal year after the purchase date. Shortly after closing, the company pays a contractor $47,000 to tear down the old building and remove it from the site. McCoy is able to sell salvaged materials from the old building for $3,800 and pays an additional $10,400 to level the land.
Required: Determine the amount McCoy's Fish House should record as the cost of the land. (Amounts to be deducted should be indicated by a minus sign.)
Answer:
$1,004,400
Explanation:
The computation of the cost of land is shown below:-
The Total cost of land = Purchase price of the land + Title Insurance + Property Taxes + Cost of removing the building + Level the land - Salvaged materials
= $940,000 + $2,400 + $8,400 + $47,000 + $10,400 - $3,800
= $1,004,400
Therefore for computing the total cost of land we simply applied the above formula.
Which of the following are true?
a. The NPV is the net value created by investing in an asset. The NPV is only as good as the inputs. The NPV does account for all cash flows as well as time value of money.
b. The IRR is the rate of return an investor would earn on an asset they held to maturity if they could reinvest alll cash flows received in an asset with the same return (i.e. the reinvestment rate assumption of the IRR). The IRR does account for all cash flows.
c. Payback is the amount of time to recover the initial investment. No discounting occurs and all cash flows after the payback period are not accounted for. The rule is intuitive and used by small business owners.
d. All of the above are accurate
e. None of the above are accurate.
Answer:
c. Payback is the amount of time to recover the initial investment. No discounting occurs and all cash flows after the payback period are not accounted for. The rule is intuitive and used by small business owners
Explanation:
Net present value is the present value of after tax cash flows from an investment less the amount invested. The NPV does account for all cash flows as well as time value of money.
Internal rate of return is the discount rate that equates the after tax cash flows from an investment to the amount invested . The IRR does account for all cash flows.
The discounted payback period discounts cash flows
John has an auto which is covered for collision losses subject to a $250 deductible. Kate's auto also has collision coverage but her deductible is $500. Which of the following statements describes how a $2,000 collision loss will be paid if it occurs when John borrows Kate's car because his car is in the shop for repairs?
A) John's policy will pay $1,500, and Kate's policy will pay nothing.
B) John's policy will pay $1,750, and Kate's policy will pay nothing.
C) Kate's policy will pay $1,750, and John's policy will pay nothing.
D) Kate's policy will pay $1,500, and John's policy will pay $250.
Answer: D. Kate's policy will pay $1,500, and John's policy will pay $250.
Explanation:
The deductible is the amount that a policy holder has to pay before the insurance company pays the remaining amount.
From the question, we are informed that John has an auto which is covered for collision losses subject to a $250 deductible while Kate's auto also has collision coverage but her deductible is $500.
If a $2,000 collision loss occurs when John borrows Kate's car because his car is in the shop for repairs, since John has a deductible of $500, Kates policy will pay ($2000 - $500) = $1500 and John's policy will pay $250.
Geraldo went to the supermarket to buy a bottle of chocolate syrup. While there, he saw the latest copy of National Enquirer at the checkout stand. He had not planned on buying the magazine, but on the spur of the moment, he bought himself a copy. This decision by Geraldo is an example of:
Answer: Impulse buying
Explanation:
Impulse buying could be defined as the act of buying an item in a market unplanned. This happens when you saw something at the market that caught your fancy or that you really needed but didn't remember to budget for it when going to the market for shopping, many times this affects your plan or budget because it's not planned but since it's a need, then they're worth it most times. This an example of what Geraldo did at the mall.
As the owner of 100 shares of Megabux Corporation’s stock, Lara Sanders wants to know whether her company earned a profit or loss during the past year. She can find the answer to this by looking at Megabux’s:
Answer:
Income statement
Explanation:
A company's income statement includes all the revenues and expenses that a company incurred during a certain accounting period (monthly, quarterly, annual). It starts with the revenues and then the expenses and costs are subtracted until you find the company's net income.
Coercive power is the Multiple Choice power exercised by use of fear of punishment for errors of omission or commission by employees. power of persuasion exercised by a charismatic leader to get compliance from reluctant subordinates. arises from manager access, control, and distribution of information that is not freely available to everyone in an organization. ability of the leader or manager to confer rewards for positive behaviors or outcomes.
Answer:
power exercised by use of fear of punishment for errors of omission or commission by employees.
Explanation:
Coercive power is characterized because the use of force to get a worker to obey an order or command, where control comes from one's right to threaten the employee for non - adherence. Like that this power is in place when a person worked an order in fear of losing their job or their benefits package.
Answer:
the power exercised by use of fear of punishment for errors of omission or commission by employees
Explanation:
In simple words, Coercive control is characterised as the utilization of coercion to compel an individual to obey a directive or command, whereby power derives with one's right to discipline the worker for violations. Of instance, this control is in place when an individual performs an instruction in fear of being attacked or their signing income.
Thus, from the above we can conclude that the correct option is A.
Purves Corporation is using a predetermined overhead rate that was based on estimated total fixed manufacturing overhead of $121,000 and 10,000 direct labor-hours for the period. The company incurred actual total fixed manufacturing overhead of $113,000 and 10,900 total direct labor-hours during the period. The predetermined overhead rate is closest to
Answer:
Predetermined manufacturing overhead rate= $12.1 per direct labor hour
Explanation:
Giving the following information:
Estimated total fixed manufacturing overhead= $121,000
Estimated direct labor hours= 10,000
To calculate the predetermined manufacturing overhead rate we need to use the following formula:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 121,000/10,000
Predetermined manufacturing overhead rate= $12.1 per direct labor hour
The method of developing budget estimates that requires managers to estimate sales, production, and other operating data as though operations are being started for the first time is __________ budgeting. a.flexible b.continuous c.zero-based d.master
Answer:
c
Explanation:
Zero-based budgeting is a method of budgeting in where expenses must be justified for each new period. It requires managers to estimate sales, production, and other operating data as though operations are being started for the first time
The master budget is the sum of all budget made by lower levels in the organisation.
Continuous budgeting is the process of expanding the budget by adding one more month as each month goes by.
A flexible budget is a budget that changes to the activity levels of a the organisation
What can students do with their recorded data in Science Journal?
A) Calculate the standard deviation of a set of data values
B) Review recorded graphs and individual data points
C) Make their data audible
D) Share and export experiments and sensor recordings
Answer:
B. Review recorded graphs and individual data points
C. Make their data audible
D. Share and export experiments and sensor recordings
Explanation:
The Science Journal application refers to the scientific journal at the digital platform that helps users to record projects using pictures, notes, and built-in sensors from the phone of the user. While setting up a new experiment it provides the opportunity to document one's thoughts and findings as he or she begins to ask queries and to come up with their own investigations. Its user-friendly features use sensors and recorders of telephones in an efficient way.
Which managerial function involves setting goals, establishing a strategy to pursue those goals, and forecasting future threats and opportunities that might influence the company’s needs and strategies? A. planning B. organizing C. leading D. controlling
Answer:
A. Planning
Explanation:
There are five types of management functions i.e planning, organizing, staffing, directing and planning.
The planning refers to the make out a plan how to accomplish the company goals and objectives with the help of making strategy so it is easy for company to reach it also at the same time it forecast the swot analysis i.e (strength, weakness, opportunities, and threats) that affect the needs and strategies of the company
Hence, the correct option is A
John purchases a life insurance policy on his wife Betty where he pays the premium and he will receive the life insurance money when she dies. John is both the ________ and the ________ who will receive the ________ upon the death of Betty, the ________.
Answer:
Policy owner
Beneficiary
Face amount
Insured
Explanation:
John is both the “Policy owner” and the “Beneficiary” who will receive the “ Face amount” upon the death of Betty, the “Insured”.
The term policy owner is used to refer to a person who buys and pays the premium. At the same time, a beneficiary is a person who receives the face amount that was on the name of the insured (Betty).
It is given that John has bought the policy and paying the premium so he is the owner. Moreover, he is the beneficiary because he is getting the insurance amount after the death of betty who is insured.
Using the following balance sheet and income statement data, what is the debt to assets ratio? Current assets $14,000 Net income $ 21,000 Current liabilities 8,000 Stockholder's Equity 39,000 Average assets 80,000 Total liabilities 21,000 Total assets 60,000 Average common shares outstanding was 10,000.
Answer:
35%
Explanation:
The following information were derived from a balance sheet and income statement data
Current assets is $14,000
Net income is $21,000
Current liabilities is 8,000
Stock holders equity is 39,000
Average assets is 80,000
Total liabilities is 21,000
Total assets is 60,000
Therefore, the debt to assets ratio can be calculated as follows
= Total liabilities/Total assets
= 21,000/60,000
= 0.35×100
= 35%
Hence the debt to assets ratio is 35%
How do you start an organization?
For a Profit Organization:
1. Select the best business structure which favors you in taxes and protect. Such as corporation, limited liability company, sole proprietorship, general partnership, limited partnerships or a professional incorporation.
2. Decide the name you want to use to advertise your business.
3. Register company name with the state, county and the federal if applicable.
4. Check licensing requirements with the city county, city, state and federal.
5. Open a bank account
6. Advertising and Marketing
For a Non Profit Organization:
1. There are two types of non profit organizations religious and good cause.
2. It has to be registered wither with the state or county, depending upon the structure and the state you want to incorporate.
3. Apply with the federal to obtain a tax exempt status, so that your donors can claim donations on their tax returns.
4. Open a bank account
5. Delegate duties what you have mentioned in the article you submitted to the Internal Revenue Service.
Find the answer to the following question: Where should students go for information about their degree program, how many credits they need to graduate, how many credits each course is, etc.? Select one: a. Students should visit the University Catalog to find answers to these questions. b. Students should contact Student Services to ask these questions. c. Students should ask their Instructors these ques
Answer:
Students should visit the University Catalog to find answers to these questions.
Explanation:
College or university catalog refers to the written document that includes all the information related to them. It is a form of publication from the university's end comprising all the necessary details and information. The catalog describes all the academic programs offered by the university and the rules and regulations. The requirements and procedures to be followed are also stated in the catalog.
As per the given excerpt, the student should visit the University Catalog for all the information that he is looking for.
The new airline, Aphrodites Airlines is getting ready to make its advertising decisions on how to promote itself in the marketplace. The major advertising objectives it should make to develop its advertising program include: Group of answer choices message/media decisions, budget decisions/, and global market strategies objective settings, budget decisions, ethical dilemmas objective settings, budget decisions, global market strategies and joint ventures objectives setting, budget decisions, message/media decisions, and advertising evaluations
Answer:
Objective setting, budget decisions, message/media decisions, and advertising evaluations.
Explanation:
Advertising strategies differ for every business. There can be different strategies for service business rather than those businesses who provide physical goods. Service business need to pay special attention to their customers because of their intangible nature. Aphrodite's Airlines is making decision to promote its business. First they need to set objectives, then identify their organization budget for advertising activity.
Under the Securities Act of 1933, if damages were incurred and there was a material misstatement or omission in the financial statements, the CPA will most likely lose the lawsuit unless:
Answer:
The CPA rebuts the allegations
Explanation:
The Securities Act of 1933 requires that investors receive financial and other significant information regarding any and all securities being sold publicly and prohibits deceit, misrepresentations, and other fraud in the sale of securities. Therefore, since there was material misstatement or omission in the financial statements, the only chance the CPA has is if they rebut the allegations. Meaning that they provide actual evidence, such as physical statements or witnesses that contradict or nullify the evidence that is being presented against them regarding the material misstatement or omission
An aging of a company's accounts receivables indicates that the estimate of uncollectible receivables totals $7,900. If the Allowance for Doubtful Accounts has a $700 credit balance, the adjustment to record the bad debt expense for the period will require a
Answer:
Debit to Bad Debt Expense Account for $7,200
Explanation:
Based on the information given we were told that the company accounts receivable shows the estimate of uncollectible receivables of the amount of $7,900 which means that if the Allowance for Doubtful Accounts has an amount of $700 as a credit balance, the adjustment to record the bad debt expense will be :
Debit to Bad Debt Expense account for the amount $7,200 calculate as :
Uncollectible receivables totals $7,900-Allowance for Doubtful Accounts $700 =$7,200
(7,900 - 700 )
Business strategy sets the overall direction for the business; while the IT strategy defines what information, ISs, and architecture are needed to support the business and how infrastructure and services are to be delivered. Select one: True False
Answer:
True.
Explanation:
Business strategy sets the overall direction for the business; while the IT strategy defines what information, information system strategy (ISs), and architecture are needed to support the business and how infrastructure and services are to be delivered.
Business strategy sets the overall direction for the business; it focuses on defining how a business would achieve its goals, objectives, and mission; as well as the funds and material resources required to implement or execute the business plan.
The information technology (IT) strategy is an integral part of the business strategy because it presents the technological or technical framework and infrastructure required to achieve a successful business plan, objectives, mission and goals.
Suppose that a company based in Dallas, Texas, initially confronts only four other rival firms. Its own market share is percent, which ties it with the other largest producer and seller in the industry. The market share of each of the other three firms is percent. Then a sixth firm, located in Cleveland, Ohio, enters the same industry. The new firm captures percent market share, and the market share of one of the smallest three original incumbents declines to percent as well. After the Cleveland firm's entry into the industry, what are the values of the four-firm concentration ratio and of the Herfindahl-Hirschman index?
Answer:
1. 86.7%
2. 2244.4
Explanation:
The computation is shown below:
1. The new 4 firm concentration ratio after entry is
= Total mix share of 4 largest firms
= 30% + 30% + 13.33% + 13.33%
= 86.7%
2. Now HHI index is
= sum of squared shares
= 30^2 + 30^2 + 13.33^2 + 13.33^2 + 6.67^2 + 6.67^2
= 2244.4
Hence, we applied the above values so that each part could be determined
Jill is starting a fast food delivery company. She has designed a logo and plans to print flyers to advertise her services. Jill plans to publish a book based on her experiences to inspire young entrepreneurs. To help protect her publishing rights, she should register a ____.
Answer:
Copyright
Explanation:
Copyright refers to creating a record of your work that proves that you are the owner and because of that, you are the only one allowed to make copies of it and it protects against an unauthorized use. According to this, the answer is that to help protect her publishing rights, she should register a copyright because this will allow her to have a record of this and avoid plagiarism.
As part of the American Recovery and Reinvestment Act, $7 million was earmarked to build a bridge over a railroad crossing so that 168 Nebraska town residents wouldn't have to wait for the trains to pass. Which of the following best explains why this proposal was passed?
A) The benefits were highly diffused while the costs were very concentrated.
B) The costs were highly diffused while the benefits were very concentrated.
C) The costs were external while the benefits were internal.
D) The total benefit to the bridge was greater than the total cost
Answer: B) The costs were highly diffused while the benefits were very concentrated
Explanation: The American Recovery and Reinvestment act was enacted by congress and passed into law in 2009. The act which was aimed at alleviating the burden and promoting economic growth after the 2008 recession. It was meant to serve as a palliative or stimulus to aid economic recovery. The $7 million proposal earmarked to erect a bridge over the railway crossing was passed into law due to the fact that the benefits, relief and succor which the bridge provides to the over 168 Nebraskans coupled with the subsidized or diffused cost of putting the bridge in place were decisive factors towards acceptance of the proposal.
Greg was looking at different websites to complete his paper for his accounting class. He found several websites that ended in .org, .gov, and .edu. He was unsure about franksmith.net, created by Frank Smith, which gave him a lot of information that he thought was important. Which best describes how Greg could find more information about the website to check for its validation?
In this question the options are missing; here are the options:
Which best describes how Greg could find more information about the website to check for its validation?
Greg could assume it is valid because it is a .net.
Greg could look at the contact page to validate Frank's expertise.
Greg could look to see if the website was updated recently,
Greg could assume it is valid since Frank is not selling anything.
The answer to this question is B. Greg could look at the contact page to validate Frank's expertise.
Explanation:
One of the key factors that make a source to be credible is the expertise of the author because if the author is an expert in the area, the source is generally considered as credible. For example, the words of Isaac Newton are a credible source if these are related to areas such as maths, physics, or astronomy because he was an expert in this area. In this context, one way Greg could validate this source is by checking who is Frank Smith to verify if he is an expert in the topic. This makes option B correct.
Answer:B) Greg could look at the contact page to validate Frank’s expertise.
Explanation: Got it correct, edu.23
A river barge company can offer cheaper, although slower, per-pound transportation of products to companies when compared with transportation by air, truck, or rail. The river barge company should first target customers whose companies use:
Answer:
the cost leadership strategy.
Explanation:
A river barge company can offer cheaper, although slower, per-pound transportation of products to companies when compared with transportation by air, truck, or rail. The river barge company should first target customers whose companies use the cost leadership strategy.
A cost leadership strategy is a business strategy which is aimed at using the lowest cost of production and operation in a business.
Hence, river barge company cheaper, although slower, per-pound transportation as against the use of air, truck, or rail which would be more expensive.