Answer:
Yes
Explanation:
In a way Yes. Cloud Computing can allow an IT organization to quickly meet their current changing needs since they have access to all the necessary equipment and computing power by simply making a phone call. That is the main service of Cloud Computing organizations, they provide all the necessary hardware power to IT companies completely remotely. All the IT company would have to do is pay for the extra computing power that they need and they can get it immediately. This will allow them to immediately adapt to changes such as mergers, sudden drops in sales, or new product introductions.
Consider the statements. Indicate whether each statement falls mainly under the field of microeconomics or macroeconomics.
A. A tax on tires increases the price of tires paid by car owners.
B. As a result of a severe recession, the total output, or gross domestic product, of a nation falls by 4%.
C. Increased consumer spending causes the national unemployment rate to fall.
D. Increased consumer spending causes the rate of inflation to rise.
E. Optimism about future car sales leads General Motors to hire more auto workers.
F. Robotic technology reduces the demand for auto workers.
Answer:
microeconomics
macroeconomics
macroeconomics
macroeconomics
microeconomics
microeconomics
Explanation:
Macroeconomics is a branch of economics that studies the economy as a whole. Macroeconomics studies economic aggregates such as inflation, unemployment, GDP and growth rate.
Microeconomics is a branch of economics that studies the decisions individuals and firms make in response to changes in economic factors. These factors include price, resources etc. it studies how firms and individuals allocate and make decisions about resources
The data processing cycle consists of four steps. Draw all the steps.
Answer:
Explanation:
The four steps in the data processing cycle are the following input, processing, output and storage. The information is first entered into system where it is then processed by the system. Once the information is processed and understood by the system it is then saved in a database. From the database it is then grabbed by the system and sent as an output to where it is needed. This is all illustrated in the drawing attached below.
The table shows the PPF of an island community. Choose the best statement.
Possibility Fish (pounds) Berries (pounds)
A 0 and 40
B 1 and 36
C 2 and 30
D 3 and 22
E 4 and 12
F 5 and 0
a. Suppose that this community produces 3 pounds of fish and 20 pounds of berries. If it decides to gather more berries, it faces a tradeoff.
b. When this community produces 4 pounds of fish and 12 pounds of berries it faces a tradeoff, but it is inefficient.
c. Suppose that this community produces 5 pounds of fish and 0 pounds of berries. If it decides to gather some berries, it will get a free lunch.
d. If this community produces 3 pounds of fish and 22 pounds of berries, production is efficient but to produce more fish it faces a tradeoff.
Answer:
d. If this community produces 3 pounds of fish and 22 pounds of berries, production is efficient but to produce more fish it faces a tradeoff.
TRUE, IF THEY WANT TO PRODUCE MORE FISH, THEY WILL PRODUCE LESS BERRIES
Explanation:
a. Suppose that this community produces 3 pounds of fish and 20 pounds of berries. If it decides to gather more berries, it faces a tradeoff.
FALSE, THEY CAN GATHER 2 MORE POUNDS OF BERRIES WITHOUT AFFECTING FISH
b. When this community produces 4 pounds of fish and 12 pounds of berries it faces a tradeoff, but it is inefficient.
FALSE, THIS COMBINATION LIES ON THE PPF CURVE
c. Suppose that this community produces 5 pounds of fish and 0 pounds of berries. If it decides to gather some berries, it will get a free lunch.
FALSE, IT WILL HAVE TO LOSE SOME FISH
Assume that, compared with other nations, the country of New Bispo has a higher opportunity cost in the production of automobiles and a lower opportunity cost in the production of televisions. Determine whether the statements below are true or false.
a. Without trade, if the people of New Bispo want automobiles and televisions, New Bispo will produce its own automobiles and televisions.
b. With specialization and trade, New Bispo can obtain one or more automobiles from another nation by trading some of its televisions for automobiles.
c. New Bispo should specialize in producing the items in which it has a higher opportunity cost compared to other nations.
d. Without trade, the opportunity cost for New Bispo of producing more automobiles is fewer televisions.
e. With specialization and trade, the combinations of automobiles and televisions that New Bispo can consume are limited to points below the production possibility frontier.
Solution :
Statement a is TRUE.
-- As without trade, a country will consume what the country produces in its country. So the country, New Bispo will have to produce their own television and automobiles as they are operating under autarky.
Statement b is TRUE.
-- The country New Bispo has a comparative advantage than the other countries in production of television. Specialization as well as trade makes the country to exchange its best products(television) for some other goods(i.e. automobiles) and benefited from it.
Statement c is FALSE.
-- The statement is false as the when a country produces more of products in which it specializes and also has a lower opportunity cost, it provides for the maximum benefit. So by using specialization, the country can concentrate on production of a single item at a time that it can do its best.
Statement d is TRUE.
-- The opportunity cost for the production of automobiles is high for New Bispo, therefore, it indicates that a country will produce more of automobiles but it has to lower down its television production.
Statement e is FALSE.
-- The statement is false as the points that lies outside the curve can be attained with the resources and technology that are already existing if the trade occurs with the outside producer. The trade makes it enable to consume outside the production possibility frontier. So with trade and specialization, New Bispo are able to consume automobiles as well as television as they can operate beyond the PPC frontier.
On March 2nd, a fire destroyed the entire inventory stored in a warehouse for the Madison, Inc. The following information is available from the records of the company's periodic inventory system: Beginning inventory 1/01/2020 $989,000 Purchases through 3/02/2020 $784,329 Sales through 3/02/2020 $1,345,789 Gross Profit Ratio 33% Estimate the cost of the inventory destroyed by the fire using the Gross Profit Method.
Answer:
Madison, Inc.
The cost of the inventory destroyed by the fire using the Gross Profit Method is:
$871,650
Explanation:
a) Data and Calculations:
Beginning inventory 1/01/2020 = $989,000
Purchases through 3/02/2020 = $784,329
Sales through 3/02/2020 = $1,345,789
Gross Profit Ratio 33%
Gross profit = $444,110 ($1,345,789 * 33%)
Cost of goods sold = $901,679 ($1,345,789 - $444,110)
Cost of goods available for sale = $1,773,329 ($989,000 + $784,329)
Estimate of the cost of the inventory destroyed by the fire = cost of goods available for sale minus the cost of goods sold
= $871,650 ($1,773,329 - $901,679)
b) The estimate of the cost of the inventory destroyed by the fire is equal to the cost of the ending inventory. It is obtained by subtracting the cost of goods sold from the cost of goods available for sale for the period. The gross profit margin is the difference between the Sales Revenue and the Cost of goods sold. When expressed as a percentage of Sales Revenue, the resulting figure is called the gross profit margin ratio.
Explain what answer he came to and why. Next, discuss the approach human resource management should take toward organizational social responsibility. Finally, cite one real-life example of a company implementing social responsibility that is not mentioned in the video or the course textbook. Be sure to be factual and to fully support your answer.
Explanation:
The management of human resources in a globalized society, must be focused on the inclusion and protection of diversity. Organizational social responsibility includes protecting the individual rights of each individual regardless of their culture or individual values.
A socially and environmentally responsible company is one that is concerned with its internal and external environment, adopting the best current practices for the protection and development of the society in which it operates and the environment.
A company that implements social responsibility is the Brazilian agribusiness company Amaggi, which has the potential to cause negative impacts on the environment, but which develops environmental protection programs and contains ISO environmental certifications for the adoption of continuous environmental improvement practices, as well as the creation of subsidy and protection programs for local farmers.
QUESTION 9 of 10: The skill set to predict the various aspects of the business several months or even years into the future is called:
a) Supply chain management
b) Forecasting
c) Quality control
Answer:
b) Forecasting
Explanation:
The skill set that is used to predict the aspects of the business in the future is what is known as forecasting.
In field of business or management, forecasting is also known as predicting. It is used to predict the developmental strides that the business would attain in the years to come.
Forecasting is very helpful because it helps to come up with strategies that would be useful to the business in the future.
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When a Democrat is elected as president, business leaders expect that the corporate profits tax will be increased. Most likely, this will cause business firms, ceteris paribus, to A) plan to increase investment in the future to compensate for the higher tax rate. B) decrease investment because they would expect lower benefits from investment. C) not change their investment plans because higher corporate profit taxes will not change the demand for their product. D) increase investment because the higher corporate profits tax will increase the return on any investment.
Answer:
B) decrease investment because they would expect lower benefits from investment.
Explanation:
The Democratic party refers to one of the major political parties in the United States of America. It was founded on the 8th of January, 1828 and has its headquarter in Washington DC, USA.
Also, a democratic nominee is an individual who is the flag bearer or official candidate of the democratic party by virtue of being selected by the delegates of the party. In order to become the winner of a democratic election, the nominee are expected to go around to campaign for votes from the electorates.
When a Democrat is elected as president, business leaders expect that the corporate profits tax will be increased. Most likely, this will cause business firms, ceteris paribus (all things being equal), to decrease investment because they would expect lower benefits from investment.
This ultimately implies that, business owners would be discouraged in investing in businesses due to an increase in the corporate tax.
The following costs were for Bikeway Inc., a bicycle manufacturer that uses the high-low method: Output Fixed Costs Variable Costs Total Costs 800 $25,000 $80,000 $105,000 850 $25,000 $85,000 $110,000 900 $25,000 $90,000 $115,000 950 $25,000 $95,000 $120,000 At an output level of 1,000 bicycles, per unit total cost is calculated to be: $101.50. $126.32. $125.00. $100.00. $131.58.
Answer:
Total cost per unit = $125.00
Explanation:
The fixed cost is a cost that remains fixed regardless of the output level in the short run. This means that the fixed cost in the given question will remain fixed at a level of $25000.
The variable cost is a cost that varies, in total, with changes in output level. However, the per unit variable cost usually remains fixed even with changing output level. This assumption holds for the question and the per unit variable cost is,
Variable cost per unit = 80000 / 800 = $100
The total cost at output level of 1000 bicycles will be,
Total cost per unit = 100 + (25000 / 1000)
Total cost per unit = $125.00
Leon, age 14, is a dependent of his parents. In 2020 he earned $6,500 from a part-time job and $7,500 of interest income on bonds given him by his grandparents, resulting in taxable income of $7,150. Under kiddie tax rules, calculation of tax requires dividing taxable income between net unearned income and other taxable income taxed at his own rate. Leon's taxable income will be divided as follows A) net unearned income -$1,850 and earned taxable income -$5,300. B) net unearned income -$7,150 and earned taxable income -$0. C) net unearned income -$0 and earned taxable income -$7,150. D) net unearned income -$5,300 and earned taxable income -$1,850
Answer:
Leon's taxable income will be divided as follows
B) net unearned income -$7,150 and earned taxable income -$0.
Explanation:
a) Data:
Earnings from part-time job = $6,500
Interest income from grandparents' bonds = $7,500
Taxable income on the interest income = $7,150
b) For 2020, Leon, age 14, can earn up to $12,200 without paying income tax. This implies that he cannot pay income tax on the $6,500 which he earns from a part-time job. But he is expected to pay tax on the interest income from bonds given him by his grandparents. Under the kiddie tax rules, his income is separated between net unearned income and other taxable income taxed at his own rate.
Receive cash from customers, $15,000. Pay cash for employee salaries, $9,000. Pay cash for rent, $3,000. Receive cash from sale of equipment, $8,000. Pay cash for utilities, $1,000. Receive cash from a bank loan, $4,000. Pay cash for advertising, $7,000. Purchase supplies on account, $3,000. Required: Post transactions to the Cash T-account and calculate the ending balance.
Answer:
Part 1
Cash Account
$
Debit :
Receive cash from customers 15,000
Sale of Equipment 8,000
Bank Loan 4,000
Totals 27,000
Credit :
Pay cash for employee salaries 9,000
Rent 3,000
Utilities 1,000
Advertising 7,000
Ending Balance 7,000
Totals 27,000
Part 2
Ending Balance is $7,000
Explanation:
Only Cash related purchases and receipts are posted to Cash Account. Thus ignore non-cash related transactions.
The Cash Account : Receipts are posted at the Debit side of this Account and Payments at the Credit Side.
The Balance : After determining the Totals of the Debit and Credit, the shortfall of any of that side represents the Balance.
Nichols Fruits leased farm equipment from King Machinery on January 1, 2021. The present value of the lease payments discounted at 10% was $40 million. Ten annual lease payments of $6 million are due at the beginning of each year beginning January 1, 2021. King had constructed the equipment recently for $33 million. With this lease agreement, control is considered to be transferred to the lessee at the beginning of the lease. What amount of interest revenue from the lease should King report in its 2021 income statement?
A. $3.4 million.
B. $6.0 million.
C. $17.0 million.
D. $10.4 million.
Answer:
A. $3.4 million
Explanation:
Calculation for What amount of interest revenue from the lease should King report in its 2021 income statement
Interest revenue = 10% * [$40 - $6])
Interest revenue = 10% *$34
Interest revenue = $3.4 million
Therefore the amount of interest revenue from the lease that King should report in its 2021 income statement will be $3.4 million
Hoffman Corporation issued $80 million of 7%, 10-year bonds at 104. Each of the 80,000 bonds was issued with 11 detachable stock warrants, each of which entitled the bondholder to purchase, for $22, one share of $1 par common stock. At the time of sale, the market value of the common stock was $27 per share and the market value of each warrant was $5. Prepare the journal entry to record the issuance of the bonds. (En
Answer:
($ in million)
Dr Cash 81.6
Dr Discount on bonds payable 2.8
Cr Bonds payable80.0
Cr Equity-stock warrants outstanding 4.4
Explanation:
Preparation of the journal entry to record the issuance of the bonds.
($ in million)
Dr Cash 81.6
(80,000,000 X 102/100 = $81.6 million)
Dr Discount on bonds payable 2.8
(80+4.4-81.6 = $ 2.8 million balancing figure)
Cr Bonds payable 80.0
Cr Equity-stock warrants outstanding 4.4
($5 × 11 warrants × 80,000 bonds= $4.4 million)
(Being To record issuance of bonds)
As a developing nation, India has relied on assistance for building roads, power plants, schools, and hospitals. In order to receive assistance, the government of India has lower trade barriers and fosters private business. Many high-tech start-ups and call centers are now located in India. This example illustrates the function of the _______.
Answer:
international monetary fund (IMF)
Explanation:
This example illustrates the function of the international monetary fund (IMF). This fund is what helps India build all the infrastructure that they need in order to maintain its financial stability and allows it to improve its international trade and relationships. Since India is a member of the International monetary fund and contributes to it they are able to receive assistance for such expenses from the fund itself. All country members contribute to the fund and mutually benefit from doing so.
A motel had the following business on a particular week. Number Occupied Type of room Sun Mon Tues Wed Thu Fri Sat Rate per night Nightly 60 60 60 60 60 $80 5-day Week 90 90 90 90 90 $64 7-day Week 50 50 50 50 50 50 50 $48 Weekend only 130 130 $56 If there are 200 rooms and the operating costs are $20,000 plus a cleaning fee of $5 per room per day, compute the profit during the one-week period. Group of answer choices $57,360 $57,059 $64,160 $64,160
Answer:
Total profit for week = $57360
Explanation:
To calculate the profit for one-week period, we first need to calculate the revenue for one week period based on the given occupancy.
We will first calculate the revenue for every day and add it to calculate the revenue for the week.
Sunday = 60 * 80 + 90 * 64 + 50 * 48 => $12960
Monday = 60 * 80 + 90 * 64 + 50 * 48 => $12960
Tuesday = 60 * 80 + 90 * 64 + 50 * 48 => $12960
Wednesday = 60 * 80 + 90 * 64 + 50 * 48 => $12960
Thursday = 60 * 80 + 90 * 64 + 50 * 48 => $12960
Friday = 50 * 48 + 130 * 56 => $9680
Saturday = 50 * 48 + 130 * 56 => $9680
Total revenue for one week = 12960 * 5 + 9680 * 2 => $84160
To calculate the profit, we will first calculate the total cost.
Total cost = 20000 + (5 * 200 * 5 + 5 * 180 * 2)
Total cost = $26800
Total profit for week = 84160 - 26800
Total profit for week = $57360
Based on your focus group, you ask your product research team to propose different formulas for turmeric meal replacement shakes. Keeping in mind that all In Fine Fettle's products use ingredients that are of higher quality than the competition's, your food scientists offer you three different formulations. Choose the formula that would be most attractive to the target market.
a. Has the highest turmeric content and anti—inflammatory properties
b. Has the second-highest turmeric content and anti—inflammatory properties
c. Has the lowest turmeric content and anti—inflammatory properties
Answer:
The formula that would be most attractive to the target market is:
b. Has the second-highest turmeric content and anti-inflammatory properties.
Explanation:
With this formula, the taste will be rated as 7/10 so that there is no too much tumeric or too little, and the anti-inflammatory properties will just be right. The target market will be most attracted to this taste level and you will be able to beat your competition. Using the middle formula, success is guaranteed with consumers who do not want too much or too little as offered by the first and last options.
Assume General Electric Company reports the following footnote in its 10-K report. December 31 (In millions) 2016 2015 Raw materials and work in process $ 5,527 $ 5,042 Finished goods 5,152 4,806 Unbilled shipments 333 402 11,012 10,250 Less revaluation to LIFO (697) (661) $10,315 $ 9,589 The company reports its inventories using the LIFO inventory costing method. Assume GE has a 35% income tax rate. As of the 2016 year-end, how much has GE saved in taxes by choosing LIFO over FIFO method for costing inventory
Answer:
$ 244 million
Explanation:
Calculation for how much has GE saved in taxes by choosing LIFO over FIFO method for costing inventory
Tax rate Amount (In millions)
LIFO $ 10,315.00 35% =$ 3,610.25
FIFO $ 11,012.00 35% =$ 3,854.20
Savings in taxes $ (697.00) $ (243.95)
Hence,
Savings in taxes=$ 3,610.25 million-$ 3,854.20 million
Savings in taxes=($243.95 million)
Savings in taxes=($ 244 million) Approximately
Therefore the amount that GE saved in taxes by choosing LIFO over FIFO method for costing inventory will be $ 244 million
England and Scotland both produce scones and sweaters. Suppose that an English worker can produce 50 scones per hour or 1 sweater per hour. Suppose that a Scottish worker can produce 40 scones per hour or 2 sweaters per hour.
If free trade exists between the countries, then each country will benefit if
a. England exports scones, Scotland exports sweaters.
b. England exports sweaters, Scotland exports scones.
c. both countries export scones.
d. given the production possibilities, both countries will not benefit from trade.
Answer:
A
Explanation:
The country with a comparative advantage in the production of a good should export the good
A country has comparative advantage in production if it produces at a lower opportunity cost when compared to other countries.
England
Comparative advantage in the production of scones = 1/50 = 0.02
Comparative advantage in the production of sweater = 50/1 = 50
Scotland
Comparative advantage in the production of scones = 2/40 = 0.05
Comparative advantage in the production of sweater = 40/2 = 20
England has a comparative advantage in the production of scones and should export scones
Scotland has a comparative advantage in the production of sweaters and should export sweaters
I'M'Cool Co. paid a dividend of $5.25 on its common stock yesterday. The company's dividends are expected to grow at a constant rate of 8.5% indefinitely. If the required rate of return on this stock is 15.5%, compute the current value per share of I'M'Cool Co. stock. Group of answer choices $43.90 $76.43 $56.23 $81.38
Answer:
$81.38
Explanation:
The share price formula using the constant dividend growth model is provided below:
share price=expected dividend/( required rate of return-constant dividend growth rate)
the share price is the unknown
expected dividend=last dividend*(1+constant dividend growth rate)
last dividend=$5.25
constant dividend growth rate=8.5%
expected dividend=$5.25*(1+8.5%)=$5.69625
required rate of return=15.5%
share price=$5.69625 /(15.5%-8.5%)
share price=$5.69625 /7.00% =$81.38
Fred and Wilma were divorced in year 1 (before 2019). Fred is required to pay Wilma $12,000 of alimony each year until their child turns 18. At that time, the payment will be reduced to $10,000 per year. In year 3, in accordance with the divorce agreement, Fred paid $6,000 directly to Wilma and $6,000 directly to the law school Wilma is attending. What amount of the payments received in year 3 is income to Wilma
Answer:
$10,000
Explanation:
There are various points that need to be considered as follows:
1. The person who is making alimony and have distinct payments for the maintenance purpose is eligible for the deductions
2. The person who received alimony and have distinct payments for the maintenance purpose this must be involved in their gross income
So as per the given situation only $10,000 would be considered as the income for the year 3
Oriole Company bought equipment for $290000 on January 1, 2021. Oriole estimated the useful life to be 5 years with no salvage value, and the straight-line method of depreciation will be used. On January 1, 2022, Oriole decides that the business will use the equipment for a total of 6 years. What is the revised depreciation expense for 2022
Answer:
$43,500
Explanation:
Calculation for What is the revised depreciation expense for 2022
2022 Revised depreciation expense=290,000/4 years
2022 Revised depreciation expense=72,500
2022 Revised depreciation expense=(290,000-72,500)/(6-1)
2022 Revised depreciation expense=217,500/5
2022 Revised depreciation expense=$43,500
Therefore the revised depreciation expense for 2022 is $43,500
Sheridan Company reported net income of $178,690 for 2022. Sheridan Company also reported depreciation expense of $32,350 and a loss of $4,690 on the disposal of plant assets. The comparative balance sheets show an increase in accounts receivable of $14,240 for the year, a $15,590 increase in accounts payable, and a $4,050 increase in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2022. Use the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
Answer:
Sheridan Company
The operating activities section of the Statement of Cash Flows for the year ended December 31, 2022:
Adjusted cash from operations $215,730
Accounts Receivable (14,240)
Accounts Payable 15,590
Prepaid Expenses (4,050)
Net net cash from operating activities $213,030
Explanation:
a) Data and Calculations:
Net income for 2022 = $178,690
add non-cash expenses:
Depreciation expense 32,350
Loss on plant disposal 4,690
Adjusted cash $215,730
b) The Operating Activities section of the Statement of Cash Flows is one of the three main sections of the Statement of Cash Flows. It summarizes operating activities or the main activities of Sheridan Company. The other activities are the investing and financing activities section, which deal with Sheridan's purchase and sale of investments in long-term assets and the sources and uses of funds respectively.
On January 2, 2020, Coronado Industries began construction of a new citrus processing plant. The automated plant was finished and ready for use on September 30, 2021. Expenditures for the construction were as follows: January 2, 2020 $ 610000 September 1, 2020 1800000 December 31, 2020 1800000 March 31, 2021 1800000 September 30, 2021 1203000 Coronado Industries borrowed $3280000 on a construction loan at 13% interest on January 2, 2020. This loan was outstanding during the construction period. The company also had $12480000 in 10% bonds outstanding in 2020 and 2021. The interest capitalized for 2020 was:
Answer:
$157,300
Explanation:
The computation of the interest capitalized is as follows:
= Accumulated expenditure × rate of interest
= ($610,000 × 12 months ÷ 12 months) + ($1,800,000 × 4 months ÷ 12 months) + 0 × 13%
= ($610,000 + $600,000) × 13%
= $1,210,000 × 13%
= $157,300
It is know that employees are the weakest link in the information security chain. How can companies deal with problems associated with the weakest link?
Answer:
the answer is below
Explanation:
The weakest links are those through whom hackers can gain access to the company's system security. The employees are considered the weakest links.
The company can deal with this problem by:
1. Training these employees on cyber security. The employees have to know what cyber security looks like and how not to fall victims.
2. The company can go further to create a new authentication system such as the multifactor authentication.
3. Employees should be made to know how harmful it could be to the company if they shared the company's security details with outsiders.
4. Employees should be refrained from downloading apps that are risky or leaving devices in the open. There should also be a judicial system where penalties would be awarded to defaulters
Which of the following is a fixed expense for Maria's sandwich food truck?
(A) Salaries for her employees (B) Truck insurance (C) Advertising (D) All of the above
Answer:
Salaries for her employees
Explanation
Salaries for her staff are listed below as a fixed expense for Maria's sandwich food truck. As a result, choice (A) is the right one.
What is a Food Truck?A food truck is a sizable motorized vehicle (like a van) or trailer that is outfitted to prepare, cook, serve, and/or sell food.Some, like ice cream trucks, offer frozen or premade food; others, with on-board kitchens, either make food from scratch or reheat food that was made in a physical commercial kitchen. Sandwiches, hamburgers, french fries, and other local fast food favorites are typical.
Food truck that served gourmet cuisine, a range of specialties, and ethnic menus were incredibly popular by the early 2010s, amid the pop-up restaurant craze.
Cold drinks like water and soda pop may be sold by food trucks. Along with food stalls, carts, and trucks,
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Sheffield Corp. purchased land as a factory site for $1360000. Sheffield paid $116000 to tear down two buildings on the land. Salvage was sold for $8500. Legal fees of $5400 were paid for title investigation and making the purchase. Architect's fees were $46300. Title insurance cost $3900, and liability insurance during construction cost $4200. Excavation cost $15540. The contractor was paid $4500000. An assessment made by the city for pavement was $9500. Interest costs during construction were $252000. The cost of the land that should be recorded by Sheffield Corp. is $1486300. $1490900. $1476800. $1500400.
Answer:
a. $1,486,300
Explanation:
Particulars Amount
Purchase cost $1,360,000
Cost to tear down two buildings $116,000
Salvage -$8,500
Legal fees $5,400
Title insurance $3,900
Assessment cost $9,500
Cost of the land $1,486,300
All you need to know to do your taxes is your gross income.
True or False
Answer: Taxable income starts with gross income, then certain allowable deductions are subtracted to arrive at the amount of income you're actually taxed on. Tax brackets and marginal tax rates are based on taxable income, not gross income.
sooo no
Which of the following is an individual factor that influences the level of ethical behavior in an organization?
Personal values is not an individual factor that influences the level of ethical behavior in an organization
What are ethical behavior?An ethical behavior refers to an application of moral principles in a every situation in any field.
Hence, a personal values is not an individual factor that influences the level of ethical behavior in an organization
In conclusion, the Option B is correct.
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Lucido Products markets two computer games: Claimjumper and Makeover. A contribution format income statement for a recent month for the two games appears below:
Claimjumper Makeover Total
Sales $ 30,000 $70,000 $100,000
Variable expenses 20,000 50,000 70,000
Contribution margin $ 10,000 $ 20,000 30,000
Fixed expenses 24,000
Net operating income $ 6,000
Required:
1. What is the overall contribution margin (CM) ratio for the company?
2. What is the company's overall break-even point in dollar sales?
3. Prepare a contribution format income statement at the company's break-even point that shows the appropriate levels of sales for the two products.
Answer:
See below
Explanation:
1. Overall contribution margin ratio for the company
= (Total contribution margin ÷ Total sales) × 100
= ($30,000 ÷ $100,000) × 100
= 0.3 × 100
= 30%
2. Company's overall break even point in dollar sales
= Fixed cost/Contribution margin ratio
= $24,000 / 0.3
= $80,000
3. Contribution format at break even point.
•Claim jumpover
Sales
$30,000
Less
Variable cost
($20,000)
Contribution margin
$10,000
•Makeover
Sales
$100,000
Less
variable cost
($50,000)
Contribution margin
$50,000
You borrow $900 from your bank for 3 months. The loan agreement states that you must repay the loan at a rate of $300 per month plus interest. The interest rate for the loan is above the prime interest rate. During the first month the prime rate is during the second month it is and during the third month it is What is the total amount of interest you pay on the loan
Answer:
The question is incomplete, so I looked for a similar one:
You borrow $900 from your bank for 3 months. The loan agreement states that you must repay the loan at a rate of $300 per month plus interest. The interest rate for the loan is 2 % above the prime interest rate. During the first month the prime rate is 4.45% during the second month it is 5.25% and during the third month it is 5.% What is the total amount of interest you pay on the loan?
the first monthly payment = $300 + ($900 x 6.45% x 1/12) = $304.84
interest payments = $4.84
the second monthly payment = $300 + ($600 x 7.25% x 1/12) = $303.63
interest payments = $3.63
the third monthly payment = $300 + ($300 x 7% x 1/12) = $301.75
interest payments = $1.75