Answer:
$200 decrease in net income.
Explanation:
Based on the information given we were told that the balance in Prepaid Rent of the company Unadjusted Trial Balance columns of the work sheet shows the amount of $600 in which the the company Adjustments columns show expired rent of the amount of $200 which means that the the company adjusting entry will results in $200 DECREASE IN NET INCOME because expired rent of the amount of $200 will be deducted from the Prepaid Rent of the amount of $600 in the Unadjusted Trial Balance columns of the work sheet.
Flint Corporation commenced operations in early 2020. The corporation incurred $58,500 of costs such as fees to underwriters, legal fees, state fees, and promotional expenditures during its formation.
Required:
Prepare journal entries to record the $58,500 expenditure and 2020 amortization, if any.
Answer and Explanation:
The journal entry is shown below:
1. Organization expense Dr $58,500
To cash $58,500
(Being organization expense is recorded)
Here organization expense is debited as it increased the expenses and credited the cash as it decreased the assets. Also the assets and expenses contains normal debit balance
2. No entry is required as the amortization is recorded for only intangible assets
Which of these states had a flat state income tax in 2009
In Real Estate, the type of deed that transfers the greatest protection for the
buyer is _______?
Answer:
general warranty deed
Explanation:
The answer is a general warranty deed provides the most protection for the buyer; a quitclaim deed provides the least protection for the buyer. A general warranty deed provides the greatest protection of any deed.
Answer:
warranty deed
Explanation:
In Real Estate, the type of deed that transfers the greatest protection for the
buyer is a warranty deed. A warranty deed is a document that has the most amount of protection for the purchaser of said property.
A firm with a WACC of 10% is considering the following mutually exclusive projects:
0 1 2 3 4 5
Project 1 -$200 $60 $60 $60 $220 $220
Project 2 -$600 $300 $300 $100 $100 $100
Which project would you recommend?
a. Project 2, since the NPV2 > NPV1.
b. Both Projects 1 and 2, since both projects have NPV's > 0.
c. Neither A or B, since each project's NPV < 0.
d. Both Projects 1 and 2, since both projects have IRR's > 0.
e. Project 1, since the NPV1 > NPV2.
Answer:
Option e is the correct answer.
As the NPV of project 1 is higher than Project 2's NPV, Project 1 is recommended,
Explanation:
To determine which project to choose, we will calculate the net present value (NPV) of both projects and the project with the higher NPV will be chosen.
NPV is the present value of the future cash flows inflows expected from the project less any initial cost. The formula for NPV is as follows,
NPV = CF1 / (1+WACC) + CF2 / (1+WACC)^2 + ... + CFn / (1+WACC)^n - Initial outlay
Where,
CF1, CF2,... is the cash flow in year 1, Year 2 and so onNPV - Project 1 = 60 / (1+0.1) + 60 / (1+0.1)^2 + 60 / (1+0.1)^3 +
220 / (1+0.1)^4 + 220 / (1+0.1)^5 - 200
NPV - Project 1 = $236.076 rounded off to $236.08
NPV - Project 22 = 300 / (1+0.1) + 300 / (1+0.1)^2 + 100 / (1+0.1)^3 +
100 / (1+0.1)^4 + 100 / (1+0.1)^5 - 600
NPV - Project 2 = $126.1861 rounded off to $126.19
As the NPV of project 1 is higher than Project 2's NPV, Project 1 is recommended,
Females, it is said, make 70 cents to the dollar in the United States. To investigate this phenomenon, you collect data on weekly earnings from 1,744 individuals, 850 females and 894 males. Next, you calculate their average weekly earnings and find that the females in your sample earned $346.98, while the males made $517.70.
Required:
Calculate the female earnings in percent of the male earnings. How would you test whether or not this difference is statistically significant?
Answer:
67%
Test for 2 Independent means
Explanation:
Given that:
Average Female earning per week in sample = $346.98
Average Male earning per week in sample = $517.70
Female earning in percent of male earning :
(Female earning / male earning) × 100%
(346.98 / 517.70) * 100%
0.6702337 * 100%
67.02%
= 67%
Testing whether or not the difference in weekly earning by males and female can be conducted by testing the difference in sample means of both males and females by taking the two different samples as being independent.
Usually :
Null hypothesis : H0 : m1 - m2 = 0
Alternative hypothesis : H1 : m1 - m2 ≠ 0
One factor that affects the elasticity of demand for labor is its share of total production costs. The greater labor's share of production costs, the___________ elasticity of demand for labor. The year is 2035. In many occupations, robots are replacing humans. As it turns out, robots make very good factory workers but very poor ski instructors. Assuming the other determinants of demand for the two services are roughly similar, you would expect the demand for human ski instructors to be__________ the demand for human factory workers.
Answer:
The greater labor's share of production costs, the higher elasticity of demand for labor.
When labor costs are a high share of total production costs, the elasticity of labor demand is higher. For example, customer service jobs like fast foods, or gas pumping, have high labor costs as a percentage of total production costs, and these sectors have a very elastic labor demand.
you would expect the demand for human ski instructors to be less elastic the demand for human factory workers.
In the year 2035, with robots having replaced most humans in factory jobs, occupations such as ski instructor, or dance instructor, or musician, would have a low labor demand elasticity because these skills are not easily learned, or easily replicated by a robot, meaning that the humans specialized in those jobs will be more demanded, and the demand for their labor will be more stable.
5. Discuss the effects of various forms of technology on international business. What role does the Internet play? Where is this all leading? Explain the meaning of “appropriability of technology.” What role does this play in international competitiveness? How can managers protect the proprietary technology of their firms?
Answer:
The internet has radically affected international business.
Explanation:
First, the internet has made it easier for firms to engage in international business and trade because it reduces barriers to entry, facilitates communications, and becomes a vehicle for the creation of new economic sectors.
Second, the internet has made competition between companies more stiff in some sectors, but has resulted in the formation of oligopolies, duopolies, and even monopolies in other sectors, especially those that are very intensive in all kinds of capital, from human capital to technological capital, to financial capital.
Third, the internet has made the concept of appropriability more important because intellectual property has gained more importance, and also because the internet has made it easier to engange in intellectual property theft.
Finally, managers can protect the proprietary technology of their firms by using the most advanced tools of virtual security and protection, this is why many computer scientists are hired in this sector.
Suppose that lisa purchases 1 pizza per month when the price is $22 and 6 pizzas per month when the price is 13. what is the price elasticity of Lisa's demand curve? Use the midpoint method to answer this problem .
Answer:
123
Explanation:
The price elasticity of Lisa's demand curve is -2.77. The given the quantity and the price of the pizza.
What is demand?
The term “demand” is relying on people needs and wants to the amount of goods and services. Demand is an economic notion that deals with the connection between consumer demand for goods and services and their market prices.
P1 = $22
Q1= 1
P2= 13
Q2= 6
Calculate the price elasticity of demand -
[tex]\frac{(Q2-Q1)}{(Q2+Q1)/2} X \frac{(P2+P1)/2}{(P2-P1)}[/tex]
[tex]\frac{(6-1)}{(6+1)/2} X \frac{(13+22)/2}{(13-22)}[/tex]
[tex]\frac{(5)}{(7)/2} X \frac{(35)/2}{(-9)}[/tex]
[tex]\frac{(5)}{(3.5)} X \frac{(17.5)}{(-9)}[/tex]
[tex]\frac{87.5}{-31.5}[/tex]
The price elasticity of Lisa's demand curve is -2.77.
Therefore, -2.77 the price elasticity of Lisa's demand curve.
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if aggregate demand is growing faster than long run aggregate supply, the federal reserve is most likely to
Answer:
.sell securities on the open market
Explanation:
Aggregate demand is simply a schedule or a curve. It said to shows the total quantity of goods and services demanded (purchased) at various price level.
Aggregate demand-aggregate supply (AD-AS) model is macroeconomic model that uses aggregate demand and aggregate supply to determine and explain the price level and the real domestic output.
Norma Richard's monthly budget allows her to spend $125 for entertainment. In June she spent $185. How much more or less did she spend than budgeted?
Answer:
$60 More
Explanation:
Norma monthly budget is set at $125
In June, she spent $185
The amount spent over and above the budget is
June spending - allowed budget
=$185 -$125
=$60 More
If you earned a 2.6% return on your savings with a 25% tax rate, what is your after-tax rate of return?
Answer: 1.95%
Explanation:
Your after-tax return can be calculated by the formula;
= return * ( 1 - tax rate)
= 2.6% * ( 1 - 25%)
= 1.95%
In order to implement expansionary policy, the goverment and Central Bank must government spending, taxes, and interest rates. A increase, increase increase B. increase decrease, decrease C. decrease increase increase D. decrease decrease, decrease
Answer:
B. increase decrease, decrease
Explanation:
Expansionary policies are measures aimed at stimulating economic growth. They are applied during times of recession and depression. Expansionary policies work by increasing the money supply in the economy. These policies increase liquidity in the market, thereby increasing the demand for goods and services.
Increasing government spending is an expansionary fiscal policy. Increased spending means releasing more money into the economy. Decreasing taxes imply individuals and business will pay lower taxes than before. The results in an increase in disposable income and an increase in demand.
The interest rate represents the cost of borrowing money. When the interest rates are high, individuals and businesses find borrowing uneconomical. When the interests are decreased, the cost of borrowing reduces, which encourages increased borrowing for consumption and investments.
Question 5/10
Choose the statement that is true about health
insurance.
You do not need health insurance if you do not have
a full time job.
You don't need health insurance if you are young
and healthy.
You don't need health insurance if you are under
age 26.
You should always have health insurance,
regardless of your circumstances.
Answer:
The correct statement is the last one. You should always have health insurance, regardless of your circumstances.
The correct statement is - "You should always have health insurance, regardless of your circumstances". Thus, option fourth is correct.
What is insurance?Insurance is a form of financial loss protection in which one party promises to reimburse another party in the case of a certain loss, damage, or injury in exchange for a fee. It is a type of risk management that is primarily used to mitigate the risk of a contingent or uncertain loss.
In exchange for a monthly premium payment, an insurance company offers to pay for some or all of your medical expenditures under a health insurance policy.
Health insurance covers the expenditures of small and significant medical difficulties, such as operations and treatment for life-threatening diseases and disabling disorders.
"You should always get health insurance, regardless of your circumstances," is the accurate statement. As a result, option four is correct.
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John plans to invest in Casper Inc. Therefore, he is going through the balance sheet of the company. He realizes that the working capital has drastically reduced in the current year because of purchase of fixed assets. How would he view the financial position of Casper?
Answer:
A. negatively; as Casper does not have enough funds to pay off its current liabilities
Explanation:
PLATO
To attend a selective college, how many years of high school math must you complete? A. 2 B. 6 C. 3 D5
It all depends on what college, and plenty of other things you should probably ask the college you are trying or going to attend.
So I am unsure.
Answer:
isnt it 4 but there is no 4 i would say c.3
Explanation:
1. Identify what type of investment the Farrier stock is for Bryant. 2. Journalize the transactions related to Bryant's investment in the Farrier stock during 2018. 3. In what category and at what value would Bryant's report the investment on the December 31, 2018, balance sheet
Answer:
1. Identify what type of investment the Farrier stock is for Bryant.
This investment should be classified as a long term investment since Bryant held Farrier's stock for more than one year.
2. Journalize the transactions related to Bryant's investment in the Farrier stock during 2018.
January 1, 2018, purchase of 3,750 shares of Farrier stock
Dr Investment in Farrier stock 60,000
Cr Cash 60,000
August 1, 2018, dividends received from Farrier stock
Dr Cash 6,375
Cr Investment in Farrier stock 6,375
December 31, 2018, Farrier reports net income
Dr Investment in Farrier stock 12,500
Cr Investment revenue 12,500
3. In what category and at what value would Bryant's report the investment on the December 31, 2018, balance sheet
This investment should be reported under non-current assets as a long term investment. The book value of this investment = $60,000 - $6,375 + $12,500 = $66,125
What will happen to a project's schedule if there are resource overloads and the critical path is delayed?
a. Nothing will happen to the project's schedule if the critical path is delayed.
b. The project's schedule will slip only if the float / slack period for the critical path activities is not enough to resolve the resource overload issue.
c. The project's schedule will slip only if the float/slack period for the noncritical activities is not enough to resolve the resource overload issue.
d. There is never a delay in the critical path, because it is the longest path through the network.
Answer:
b. The project's schedule will slip only if the float / slack period for the critical path activities is not enough to resolve the resource overload issue.
Explanation:
This is true because, the resource overload will be an impediment to the critical activities going on in the project. There supposed to be an equilibrium between the resource and the project schedule in-order to ensure completion of the project within the given time frame.
Which bond would you expect to pay the highest interest rate?
a. a bond issued by the U.S. governmentb.
b. a bond issued by General Motorsc.
c. a bond issued by New York Stated.
d. a bond issued by a new restaurant chain
Answer:
The bond that should pay the highest interest rate is:
d. a bond issued by a new restaurant chain.
Explanation:
This is based on the fact that the new restaurant chain is untested, has higher risk profile and the bondholders are assuming higher risks, and the bond cannot be compared to the bonds issued by the US government, New York State, and General Motors, in that order. The new restaurant chain will be offering a higher rate of return than others because it is new to the bond market and would like to attract potential bond investors. Without the higher rate, therefore, it will not be successful in the bond issuance.
The following table shows the approximate value of exports and imports for the United States from 1997 through 2001.
Complete the table by calculating the surplus or deficit both in absolute (dollar) terms and as a percentage of GDP. If necessary, round your answers to the nearest hundredth.
Answer:
Year Exports - Imports Percentage of GDP
1997 -101.4 1.22%
1998 -161.8 1.84%
1999 -262.1 2.80%
2000 -382.1 3.84%
2001 -371 3.61%
We can see that the deficit in grew every year except for the year 2001, when it was reduced a bit. This was because the U.S. began to import more goods than it exported.
The completion of the table with the calculation of the surplus or deficit is as follows:
Year GDP Exports Imports Exports - Imports = Surplus /Deficit
Billions Billions Billions Deficits Percentage of GDP
1997 $8,332.0 $954.4 $1,055.8 ($101.4) 1.22%
1998 $8,794.0 $953.9 $1,115.7 ($161.8) 1.84%
1999 $9,354.0 $989.3 $1,251.4 ($262.1) 2.75%
2000 $9,952.0 $1,093.2 $1,475.3 ($382.1) 3.84%
2001 $10,286.0 $1,027.7 $1,398.7 ($371.0) 3.61%
Thus, the exports exceeded the imports each of the years and the percentage of deficits to GDP continued to rise by 50%.
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In a traditional economy, which group is most responsible for producing the goods people in society need?
A. private business
B. Family members
C. International corporations
D. Government agencies
Answer:
B. Family members
Explanation:
A traditional economy is based upon the customs, beliefs, and history of the community. Age-old traditions and beliefs guide economic decisions of production and distribution. The traditional economy is motivated by the social well being of its members and not by profits.
The main economic activities under the traditional economy revolves are subsistence farming, fishing, and hunting. These activities are carried out in family settings. In other words, family members provide labor for economic activities.
The answer is Family Members for A P E X
On January 1, 2020, a borrower signed a long-term note, face amount, $260,000; time to maturity, three years; stated rate of interest, 8%. The market rate of interest of 10% determined the cash received by the borrower. The note will be paid in three equal annual installments of $100,888 each December 31 (which is also the end of the accounting period for the borrower).Required:1. Compute the cash received by the borrower. $ 231,593 2. Prepare a debt amortization schedule.2. Provide the required entries for the borrower for the issuance of the note on January 1, 2020, and the interest payments in 2020, 2021, and 2022.Date Cash Interest Expense Reduction in NP. Carrying valueJan. 1, 2020 231,593Dec. 31, 2020 93,127 23,159 699,680 161,625Dec. 31, 2021 93,127 16,163 76,964 84,661Dec 31, 2022 93,127 8,466 848,661 0 Total 279,381 47,788 0Date Account Name Cr. Dr.Jan. 1, 2020 Cash 231,590 0 Note Payable 8,410 8,410 Dec. 31, 2020 Interest Expense 23,159 0 Cash 69,968 0Dec. 31, 2021 Interest Expense 0 93,127 Note Payable 16,163 0 Cash 76,964 0Dec 31, 2022 Interest Expense 0 93,127 Note Payable 8,466 0
what is profit or loss revaluation?
Revaluation is used to adjust the book value of a fixed asset to its current market value. ... If a revaluation results in a decrease in the carrying amount of a fixed asset, recognize the decrease in profit or loss
Answer:
Revaluation
Used to adjust the book value of a fixed asset to its current market value. If a revaluation results in a decrease in the carrying amount of a fixed asset, recognize the decrease in profit or loss.
Kenai Company sold $600 of merchandise to a customer who used a National Bank credit card. National Bank deducts a 3% service charge for sales on its credit cards. Kenai electronically remits the credit card sales receipts to the credit card company and receives payment immediately. The journal entry to record the collection from the credit card company would be:________
a. Debit Accounts Receivable-National $582; debit Credit Card Expense $18 and credit Sales $600.
b. Debit Cash $582 and credit Sales $582.
c. Debit Cash of $618 and credit Accounts Receivable-National $618.
d. Debit Cash of $618; credit Credit Card Expense $18 and credit Sales $600.
e. Debit Cash $582; debit Credit Card Expense $18 and credit Sales $600.
Answer: E. Debit Cash $582; debit Credit Card Expense $18 and credit Sales $600.
Explanation:
Based on the scenario in the question as we are informed that Kenai Company sold $600 of merchandise to a customer who used a National Bank credit card and that National Bank deducts a 3% service charge for sales on its credit cards.
The journal entry to record the collection from the credit card company would be:
Dr Cash $582
Dr Credit card expense = 3% × $600 = 0.03 × $600 = $18
Cr Sales $600
Therefore, he correct option is E.
Which of the following most accurately describes the difference between
common stock and preferred stock?
A. Preferred stock can only be bought and sold by a stockbroker
B. Preferred stock has a higher value at the initial public offering
C. Preferred stock pays a higher percentage of profits as dividends
D. Preferred stock pays out earnings at fixed, regular dividends
Answer: Preferred stock pays out earnings at fixed, regular dividends.
Explanation: I got it right on the test :)
Preferred stock pays out earnings at fixed, regular dividends is the most accurately describes the difference between common stock and preferred stock. Thus, option (d) is correct.
What is stock?The term stock refers to the product are the ready to the sale for the bulk in the production. The stock are always in the bulk in items. The stock are the measure according to the quantity. The stock was ready to deliver to the wholesaler. There are the company stock as the common stock and preferred stock.
There are the difference between common stock and preferred stock are:
Common stock
The term common stock refers to the ownership in a company. The common stock of the company are the right to vote decision.Preferred stock
The term preferred stock refers to distributes assets to shareholders. Preferred stock are the no voting right decision.As a result, the significance of the difference between common stock and preferred stock are the aforementioned. Therefore, option (d) is correct.
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What type of security can be used to minimize both the risks for an investor with a fixed investment horizon? Explain.
Answer:
Zero coupon Treasury bond with a duration equal to the investors investment horizon.
Explanation:
Zero coupon Treasury bond is also called Treasury Zero and the face value of the bond is paid on maturity.
They do not pay interest periodically or coupon payment. Thus the name zero coupon.
This is in contrast to other bond types that make periodic payment of interest and then recieved face value at maturity.
Zero coupon Treasury bond minimises risk for the investor because the government always pays it's obligations.
The agreed value at maturity is not subject to market forces and other economic factors.
In this scenario when the zero coupon treasury bond has the same duration as investor investment horizon it minimises his risk compared to other bond types
Many organizations are concerned about the rising cost of employee benefits and question their value to the organization and to the employees. In your opinion, what benefits are of greatest value to employees?What can management do to increase the value to the organization of the benefits provided to employees?
Explanation:
The benefits that organizations offer their employees are essential to add value to the job function. Through them, it is possible for the organization to attract and retain qualified employees, in addition to creating a favorable and positive organizational environment for the development of professional skills. The benefits help to motivate the employee and improve the perception and appreciation of their position and the company.
The benefits that most add value to employees are health and retirement plans, in addition to dental plans, paid vacations, etc. These benefits are not mandatory for the employer, but they are great differentials in differentiating jobs in the view of individuals.
What is the major purpose of an
imprest petty cash fund?
The major purpose of an imprest petty cash fund is defined below in the explanation segment.
This same printing system would be an accounting method for such payment as well as reimbursement of little amounts. Whenever the little currency represents dollar hundred, a debit account value of dollar hundred would be reported by the Petty Cash flow or statement. The little cash keeper pays this same cheque as well as adds the amounts towards the remaining cash.
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Ariel Tax Planning Service has the following plant assets: Communications equipment: Cost, with useful life of 8 years; Furniture: Cost, with useful life of 12 years; and Computer: Cost, with useful life of 4 years. Assume the residual value of all the assets is zero and the straightline method is used. Ariel's monthly depreciation journal entry will include a ________.
a. credit to Accumulated Depreciation of $481
b. credit to Depreciation Expense of $5,772
c. debit to Accumulated Depreciation of $481
d. debit to Depreciation Expense of $5,772
Answer: a. credit to Accumulated Depreciation of $481
Explanation:
Find the monthly depreciation on all the assets;
Communications Equipment
= 9,600 / (8 years * 12 months)
= 9,600/96
= $100
Furniture
= 17,424 / (12 * 12)
= 17,424/144
= $121
Computer
= 12,480 / (4 * 12)
= 12,480/48
= $260
Add that up;
= 260 + 121 + 100
= $481
This figure will be debited to the depreciation expense account every month and credited to the Accumulated depreciation account to account for the reduction in Asset value.
Zero Corp's total common equity at the end of last year was $350,000 and its net income was $70,000. What was its ROE
Answer:
ROE = 20%
Explanation:
Given:
Common equity = $350,000
Net income = $70,000
Find:
ROE
Computation:
ROE = [Net income/Common equity]100
ROE = [$70,000/$350,000]100
ROE = 20%
Given the company’s concerns, what should you focus on first?
a. End-user education
b. Physical security
c. Business continuity
As per the company's concerns, the focus is first on the physical security of the business. Hence option B is correct.
What is a business?A business is a regular occupation or a activity that one engages to make a living. The business is a form of activity that is carried out to meet the needs and satisfaction of the people want and needs.
In general, the company in order to be in a business needs to have physical security so that its assets and resources don't get wasted or destroyed.
Find out more information about the company.
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