Answer:
Accounts Payable
Explanation:
Accounts Payable is the amount of money owed to its investors/creditors. Thus creating debt for the company, creating a liability.
Geralds manufacturing firm sold goods worth $6000 to some customers on credit in the month of January. His customers plan to pay him the entire amount at once in March. Gerald plans to record and recognize this income in the business’s accounts in March. Which accounting method does Geralds business follow?
His business follows the (________) method of accounting.
Answer:
Cash accounting method
Explanation:
The cash accounting method records receipts and expenses during the period in which cash changes hands. In this method, revenue will be recorded when payment from a customer is received. Expenses are not recorded unless money is paid out. In short, revenues and expenses are recognized and recorded only when cash is received or paid.
Cash accounting contrasts with the accrual accounting system, which recognizes revenues and expenses when their respective events occur.
In 2010, real GDP was $13.2 trillion and nominal GDP was $14.6 trillion. What was the GDP deflator for that year?a. 9.6% lower b. 9.6% higher c. 10.6% lower . d. 10.6% higher
Answer:
d. 10.6% higher
Explanation:
Given that;
Real GDP = $13.2 trillion
Nominal GDP = $14.6 trillion
GDP deflator = (Nominal GDP/Real GDP)× 100)
Hence,
GDP deflator = (14.6 / 13.2 ) × 100
GDP deflator = 110.6%
Thus,
= 110.6 - 100
= 10.6% higher
Due to the efficiency of its supply chain as a result of technology and resourcefulness, Zara can deliver products to its stores quicker than their competitors with:_______.
A. reverse logistics.
B. less electronic data interchanges.
C. longer lead times.
D. shorter lead times.
E. more stockouts.
Answer:
D. shorter lead times.
Explanation:
Most of Zara's suppliers are actually working near Zara's headquarters in northern Spain. This increases production costs, but also increases supply chain efficiency. Daily sales reports are sent by all the stores around the world and headquarters then replenish the products that are selling in higher volumes. Lead times are extremely short, stockouts are very rare, and inventory levels are extremely low. It is basically a fashion industry version of Toyota's JIT.
Which of the following are frequently mentioned goals of the Federal Reserve? Check all that apply.
Answer:
Stability in the financial system
– Price stability—fighting inflation
– Full employment
– Economic growth
– Interest rate stability
– Currency stability
Tatum can borrow at 7.15 percent. The company currently has no debt and the cost of equity is 11.55 percent. The current value of the firm is $670,000. The corporate tax rate is 25 percent. What will the value be if the company borrows $385,000 and uses the proceeds to repurchase shares? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Value of the firm __________
Answer:
$766,250
Explanation:
The value of the firm is calculated as follows:
Value of firm = Current value + (Borrowing *Tax rate)
Value of firm = $670,000 + ($385,000*25%)
Value of firm = $670,000 + $96,250
Value of firm = $766,250
The value of the firm will be $766,250 if it borrows $385,000 and uses the proceeds to repurchase shares.
The most recent price activity in this chart is a quadruple top breakout. The box size is $0.50 and the reversal size is three boxes. What is the price objective for the breakout using the horizontal count method?a. $19.00b. $21.50c. $12.50d. $22.00
Answer:
a. $19.00
Explanation:
Note: The graph is as attached below
The low of the column where a quadruple top breakout occurs is $8.5 and width is 7 and box size is 0.5
The width of the pattern is 7 which is multiplied by 0.5 which is the box size and the reversal size of 3 for an Extension estimate (7 x 0.5 x 3 = $10.5).
Now, $10.5 is added to the low of the column and hence price objective is $10.5 + $8.5 = $19
Sperry Company had beginning inventory of $80,000, purchased merchandise during the period for $140,000, and had ending inventory of $95,000. How much was goods available for sale? A. $175.000 B. $155,000 C. $315,000 D. $125,000 E. None of these
Answer:
cost of goods available for sale= $220,000
Explanation:
Giving the following information:
Beginning inventory of $80,000
Purchased merchandise for $140,000
To calculate the cost of goods available for sale, we need to use the following formula:
cost of goods available for sale= beginning inventory + purchase
cost of goods available for sale= 80,000 + 140,000
cost of goods available for sale= $220,000
On November 10 of the current year, Flores Mills sold carpet to a customer for $8,000 with credit terms 2/10, n/30. Flores uses the gross method of accountin g for cash discounts What is the correct entry for Flores on November 17, assuming the correct payment was received on that date? A) cash 7,840 Accounts receivable 7,840 B) cash 7,840 Sales discounts 8,00 Accounts receivablhe C) 7,84 cash Sales Accouts receivable D) 8,000 Cash Sales discounts l6 8,00 Accounts receivable 160 Sales
Answer:
Following are the solution to this question:
Explanation:
In all the given choices some of the data is missing so, its correct entry can be defined as follows
Cash account $7,840
Sales discount $160
To Accounts receivable $8,000
A series of monthly cash flows is deposited into an account that earns 12% nominal interest compounded monthly. Each monthly deposit is equal to $2,100. The first monthly deposit occurred on June 1, 2008 and the last monthly deposit will be on January 1, 2015. The account also has equivalent quarterly withdrawals from it. The first quarterly withdrawal is equal to $5,000 and occurred on October 1, 2008. The last $5,000 withdrawal will occur on January 1, 2015. How much remains in the account after the last withdrawal?
Answer:
The amount left in the account after last withdrawal is $61,945
Explanation:
The first monthly deposit occurred on June 1, 2008 and the last monthly deposit will be on January 1, 2015 = 80 deposit
Monthly deposit = 2,100
Interest rate = 12% / 1% per month
Firstly, we calculate the future worth of the monthly deposit
FW = A(F/A, i, n)
A = 2,100, i = 1%, n= 80
FW = $2100*[(1+0.01)^80 - 1 / 0.01]
FW = $2100*[2.216715 - 1 / 0.01]
FW = $2100*(121.671)
FW = $255,509.10
We calculate the effective interest rate
i(effective) = (1 + i nominal monthly interest rate)^n - 1
i `%, n = 3(no of months in quarter)
i (effective) = (1+0.01)^3 - 1
i (effective) = (1.01)^3 - 1
i (effective) = 1.030301 - 1
i (effective) = 0.030301
i (effective) = 3.0301%
The effective quarterly interest rate is 3.0301%
We calculate the future worth of the quarterly drawings
FW = A[(1+i)^n - 1 / i]
A = 5,000(drawing), i = 3.0301%, n = 26(number of drawings)
FW = 5,000*[(1+0.030301)^26 - 1 / 0.030301]
FW = 5,000*[2.17303717 - 1 / 0.030301]
FW = 5,000*(38.71282)
FW = $193,564.10
The future worth of the quarterly withdrawal is $193,564.10
We calculate the amount left in the account after last withdrawal
Amount left in account = FW(monthly deposits) - FW(quarterly drawings)
Amount left in account = $255,509.10 - $193,564.10
Amount left in account = $61,945
Thus, the amount left in the account after last withdrawal is $61,945
Preparing an income and expense statement helps in answering the question, "Where does all my money go?" This statement takes __________and ___________subtracts to determine an individual's or a family's cash surplus or deficit situation.
Correct question read;
"This statement takes __________and subtracts_________ to determine an individual's or a family's cash surplus or deficit situation.
Answer:
note of income; the expenses
Explanation:
Remember, the income and expense statement as the name implies is a financial statement that takes note of all incomes into a financial account and then subtracting identified expenses from the income to determine if there was a loss or profit.
By following this method, one ultimately would be able to answer the question, "Where does all my money go?".
Even as it begins to produce the Mirai for the U.S. market, Toyota continues to manufacture its traditionally fueled cars, trucks, and SUVs. Doing this helps Toyota manage the ______ of industrial demand.
a. volatility
b. division
c. durability
d. development
Answer:
a. volatility
Explanation:
From the question, we are informed that "Even as it begins to produce the Mirai for the U.S. market, Toyota continues to manufacture its traditionally fueled cars, trucks, and SUVs. In case of Doing this it helps Toyota manage the volatility of industrial demand.
volatility of industrial demand do occur where there is uncertainty as far as demand is concerned in the consumer products , as a result of this most firms to catch up with compitition, growing their sales an lot more , so in this case Toyota still continues to manufacture its traditionally fueled cars, trucks, and SUVs even though there is Mirai for the U.S. market.
The following transactions were completed by the company. The company completed consulting work for a client and immediately collected $7,000 cash earned. The company completed commission work for a client and sent a bill for $5,500 to be received within 30 days. The company paid an assistant $2,150 cash as wages for the period. The company collected $2,750 cash as a partial payment for the amount owed by the client in transaction b. The company paid $1,000 cash for this period's cleaning services. Required: Enter the impact of each transaction on individual items of the accounting equation. (Enter decreases to account balances with a minus sign.)
Answer:
The Company
The Impact of Each Transaction on the Accounting Equation:
1. Assets (Cash + $7,000) = Liabilities + Equity (Retained Earnings + $7,000)
2. Assets (Accounts Receivable + $5,500) = Liabilities + Equity (Retained Earnings + $5,500)
3. Assets (Cash -$2,150) = Liabilities + Equity (Retained Earnings -$2,150)
4. Assets (Cash +$2,750 Accounts Receivable -$2,750) = Liabilities + Equity
5. Assets (Cash -$1,000) = Liabilities + Equity (Retained Earnings -$1,000)
Explanation:
The Company applies the accounting equation, which states that Assets = Liabilities + Equity. With each transaction, the accounting equation is demonstrated as shown above. This means that each transaction that is properly recorded affects the accounting equation in two ways. Note that the accounting equation is the basis for the double-entry system of financial accounting.
Southeastern Bell stocks a certain switch connector at its central warehouse for supplying field service offices. The yearly demand for these connectors is units. Southeastern estimates its annual holding cost for this item to be $ per unit. The cost to place and process an order from the supplier is $. The company operates days per year, and the lead time to receive an order from the supplier is working days. a) What is the economic order quantity? nothing units (round your response to the nearest whole number).
Answer:
A. Economic order quantity= 319
B. Annual holding costs= 3,669
C. Annual ordering costs= 3,669
D. 154
Explanation:
a) Calculation for the economic order quantity
Using this formula
Economic order quantity=√2*Demand*Cost order/Annual holding cost
Let plug in the formula
Economic order quantity=√2*15,400*76/23
Economic order quantity=√2,340,800/23
Economic order quantity=√101,774
Economic order quantity= 319
b) Calculation for annual holding costs
Using this formula
Annual holding costs=Economic order quantity/2*Annual holding cost
Let plug in the formula
Annual holding costs=319/2*23
Annual holding costs= 3,669
c) Calculation for the annual ordering costs
Using this formula
Annual ordering costs=Demand/Economic order quantity*Cost order
Let plug in the formula
Annual ordering costs=15,400/319*76
Annual ordering costs= 3,669
d) Calculation for reorder point
Using this formula
Reorder point=Demand/Numbers of days the company operate per year*Lead time
Let plug in the formula
Reorder point=15,400/300 days per year*3
Reorder point= 154
Customer groups represent different segments if: ___________.a. Their needs require different products/services or different prices. b. Other elements of the canvas need to change in order to reach them. c. They can be categorized into different groups. d. Distinctions only matter if tailoring parts of the business to reach some customers makes it more difficult to reach other customers.
Answer:
a. Their needs require different products/services or different prices
Explanation:
A customer segment is a term in business that is used to describe a group of consumers with identical or related needs, behaviors, or other characteristics. For example Mass Market, Niche Market, etc.
However, customer groups represent separate segments based on the following:
1. their needs mandate and justify a distinct offer
2. they are sold through various distribution means.
3. they need different types of connection or arrangement.
4. they are ready to pay for various items of the offer