A firm is a pure monopoly when: Group of answer choices there are only a few other very large firms selling similar products. it can sell all it can produce at any price it chooses. it is the only seller of a product that has very few close substitutes and entry into the market in the long run is unrestricted. it is the only seller of a unique product and barriers to entry prevent other sellers from entering the market in the long run.

Answers

Answer 1

Answer: it is the only seller of a unique product and barriers to entry prevent other sellers from entering the market in the long run.

Explanation:

A pure monopoly is referred to as a single supplier of a particular product in an industry. In such market, there no no substitute exists and such firms usually have a large market share.

They are price makers, profit maximizer, discriminate on prices and have a high barriers to entry. Due to their economies of scale, they prevent other sellers from entering the market in the long run.


Related Questions

Wesley, who is single, listed his personal residence with a real estate agent on March 3, 2013, at a price of $390,000. He rejected several offers in the $350,000 range during the summer. Finally, on August 16, 2013, he and the purchaser signed a contract to sell for $363,000. The sale took place on September 7, 2013. The closing statement showed the following disbursements:
Real estate agent's commission $21,780
Appraisal fee 600
Exterminator's certificate 300
Recording fees 800
Mortgage to First Bank 305,000
Cash to seller 34,520
Wesley's adjusted basis for the house is $200,000. He owned and occupied the house for seven years. On October 1, 2013, Wesley purchases another residence for $325,000. If an amount is zero, enter "0".
a. Wesley's recognized gain on the sale is $ 0
b. Wesley's adjusted basis for the new residence is $ 270000
c. Assume instead that the selling price is $800,000.Wesley's recognized gain is $287750 , and his adjusted basis for the new residence is $
270000

Answers

Answer:

a. Wesley's gain = $139,520, but due to section 121 exclusion, he doesn't need to recognize any gain at all.

b. Basis for the new residence is equal to its price = $325,000

c. if the sales price was $800,000, then the gain would = $576,520

section 121 exclusion = $250,000

recognized gain = $326,520

adjusted basis = $325,000

The recognized gain of Wesley will be 0.

The following can be depicted from the information given:

Amount realized = $339520

Less: Adjusted basis = ($200000)

Realized gain = $139,000

Less: 121 Exclusion = ($139000)

Recognized gain = 0

Wesley's adjusted basis for the new year will be the cost which is $325000.

Lastly, based on the new values, the recognized gain will be:

Amount realized = $776520

Less: Adjusted basis = ($200000)

Realized gain = $576520

Less: 121 Exclusion = ($250000)

Recognized gain = $326520

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Janet and James purchased their personal residence 15 years ago for $300,000. For the current year, they have an $80,000 first mortgage on their home, on which they paid $5,750 in interest. They also have a home equity loan to pay for the children's college tuition secured by their home with a balance throughout the year of $150,000. They paid interest on the home equity loan of $9,000 for the year.

Required:
Calculate the amount of their deduction for interest paid on qualified residence acquisition debt and qualified home equity debt for the current year.

Answers

Answer: $5750 ; $6000

Explanation:

The amount of their deduction for interest paid on qualified residence acquisition debt will be the interest paid on the first mortgage of their home which is: = $5750

The amount of the deduction paid on qualified home equity debt will be calculated as:

= (100000/150000) × 9000

= $6000

1. You can distinguish the various types of bonds by their terms of the contract, pledge of collateral, and so on. Identify the type of bond based on each description given in the table that follows:

Description Type of Bond

a. These bonds are collateralized securities with first claims in the event of bankruptcy. ?
b. These bonds are not backed by any physical collateral. They are backed by the reputation and creditworthiness of the issuing company. ?
c. These bonds are considered the riskiest of all corporate bonds and thus offer the highest interest rates. ?

2. Based on your understanding of bond ratings and bond-rating criteria, which of the following statements is true?

a. An indenture is a legal document that details the rights of bondholders. If the indenture includes a sinking funds provision, the bond will have more default risk.

b. An indenture is a legal document that details the rights of bondholders. If the indenture includes a sinking funds provision, the bond will have less default risk.

3. In 2008, the United States began to witness one of the worst recessions since the 1930s. The collapse of the housing bubble in 2006 led to a massive decline in real estate prices, affecting consumers and institutions, especially banking and financial entities. Severe liquidity shortfalls in the United States, as well as other global markets, led to a serious credit crisis. During the credit crisis of 2008–2009, several banks and other businesses went through a reorganization process or were forced to liquidate. Consider the following example:

In December 2008, Hawaiian Telcom took action to strengthen its balance sheet by reducing debt. Although the company continued to operate, its creditors could not collect their debts or loan payments that were due prior to the legal action that the company took. However, on November 30, 2009, the company had $75 million in cash on hand.

This is an example of:______

a. Reorganization
b. Liquidation

Answers

Answer: See explanation

Explanation:

1. These bonds are collateralized securities with first claims in the event of bankruptcy. = Senior mortgage bonds

b. These bonds are not backed by any physical collateral. They are backed by the reputation and creditworthiness of the issuing company. = Debentures

c. These bonds are considered the riskiest of all corporate bonds and thus offer the highest interest rates = Subordinated debentures

2. An indenture is a legal document that gives a detailed information about the rights of bondholders. When the indenture consist of a sinking funds provision, tlit should be noted that the bond will then have less default risk. It is refered to as a legal contract that is used in the covering of a purchase obligation or debt.

Then, the second option is correct.

3. This is Reorganization. This can be seen as the company didn't liquidate but rather strengthened its balance sheet and also had $75 million on cash. This shows that the reorganization was successful.

Assume you are in the 35 percent tax bracket and purchase a municipal bond with a yield of 5.50 percent. Use the formula presented in chapter 11 of your textbook to calculate the taxable equivalent yield for this investment. (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)

Answers

Answer:

8.46%

Explanation:

Calculation for the the taxable equivalent yield for this investment

Using this formula

Taxable equivalent yield

=Tax-exempt yield / (1 − Your tax rate)

Let plug in the formula

Taxable equivalent yield=0.055 / (1 - 0.35)

Taxable equivalent yield=0.055/0.65

Taxable equivalent yield=0.0846*100

Taxable equivalent yield= 8.46%

Therefore the taxable equivalent yield for this investment is 8.46%

Starting with the finished version of the file for Example 9.3, change the fixed cost in cell B5 to $4000. Change the probabilities in cells B9 (make it smaller), B14 (make it larger), and B15 (make it smaller) in some systematic way (you can choose the details) and, for each combination, calculate the EVI. Does EVI change in the way you’d expect? Why?

Answers

Answer:

hello your question lacks the required file ( excel file ) attached below is the missing file

Answer : The EVI does not change in the way expected and this is because of the higher probability assignment

Explanation:

1) calculate the EVI for the first combination

i.e. B5 = $2000,  B9 = 0.4,  B14 = 0.8,  B15 = 0.3

EVI = EMI with information - EMI without information

      = 3250 - 3400

      = $ 150

note : EMI with information is gotten via solution tree

2) Calculate the EVI for the second combination

i.e. B5 = $4000 , B9 = 0.3 , B14 = 0.9, B15 = 0.2

EVI = EMI with information - EMI without information

     = $1378 - $500 = $878

The cafeteria of a prominent university in Carson, California hires students to assist in its three shifts of operations: breakfast, lunch, and dinner. In order to provide good customer service, the cafeteria has a policy that the number of students hired for the lunch shift must exactly equal (no more and no less) to the combined total number of students hired for the other two (that is, breakfast AND dinner) shifts. Based on these information, if Bis the number of students hired for the breakfast shift, L is the number of students hired for the lunch shift, and is the number of students hired for the dinner shift, then the constraint used in a Linear Programming (LP) problem to describe this situation is :________
A. B = L + D
B. L - B + D
C. D - B + L
D. Not enough information given to answer this question
E. None of the above please continue on the next page

Answers

Answer:

B. L - B + D

Explanation:

There are three different shifts of operation, Lunch, breakfast and dinner. The liner programming constraint is that lunch total must be equal to the sum of other two shifts. The constraint equation is formed to identify the number of students need to be hired for each shift.

Inside Incorporated was issued a charter on January 15 authorizing the following capital stock:
Common stock, $6 par, 100,000 shares, one vote per share
Preferred stock, 7 percent, par value $10 per share, 5,000 shares, nonvoting.
The following selected transactions were completed during the first year of operations in the order given:
a. Issued 21,000 shares of the $6 par common stock at $19 cash per share.
b. Issued 3,100 shares of preferred stock at $23 cash per share.
c. At the end of the year, the accounts showed net income of $39,000
Prepare the stockholders' equity section of the balance sheet at December 31

Answers

Answer:

Total stockholders' equity = $509,300

Explanation:

Before the stockholders' equity section of the balance sheet is prepared, the following are calculated first:

Common stock = Number of common shares issued * Par value of common share = 21,000 * $6 = $126,000

Additional-paid-in-capital (APIC) – Common stock = Number of common shares issued * (Common stock cash per share - Par value of common share) = 21,000 * ($19 - $6) = $273,000

Preferred stock = Number of preferred stock issued * Par value of preferred stock = 3,100 * $10 = 31,000

APIC – Preferred stock = Number of preferred stock issued * (Preferred stock cash per share - Par value of preferred stock) = 3,100 * ($23 - $10) = $40,000

Therefore, the stockholders' equity section of the balance sheet at December 31 can now be prepared as follows:

Inside Incorporated

Balance Sheet (Partial)

At December 31

Details                                                              $

Stockholders' equity:

Common stock                                         126,000

APIC – Common stock                            273,000

Preferred stock                                          31,000

APIC – Preferred stock                             40,000    

Net income                                                39,000    

Total stockholders' equity                     509,300  

Enith Consulting Co. has the following accounts in its ledger: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Common Stock; Retained Earnings; Dividends; Fees Earned; Rent Expense; Advertising Expense; Utilities Expense; Miscellaneous Expense.
Transactions
Mar. 1 Paid rent for the month, $4,000.
3 Paid advertising expense, $1,350.
5 Paid cash for supplies, $1,800.
6 Purchased office equipment on account, $11,500.
10 Received cash from customers on account, $8,600.
15 Paid creditor on account, $3,180.
27 Paid cash for miscellaneous expenses, $700.
30 Paid telephone bill for the month, $550.
31 Fees earned and billed to customers for the month, $37,200.
31 Paid electricity bill for the month, $830.
31 Paid dividends, $2,000.
Journalize the preceding selected transactions for March 2018 in a two-column journal. Refer to the Chart of Accounts for exact wording of account titles.
CHART OF ACCOUNTS
Zenith Consulting Co.
General Ledger
ASSETS
11 Cash
12 Accounts Receivable
13 Supplies
14 Office Equipment
LIABILITIES
21 Accounts Payable
EQUITY
31 Common Stock
32 Retained Earnings
33 Dividends
REVENUE
41 Fees Earned
EXPENSES
51 Rent Expense
52 Advertising Expense
53 Utilities Expense
54 Miscellaneous Expense

Answers

Answer:

March 1

Dr Rent Expense$4,000

Cr Cash $4,000

03

Dr Advertising Expense $1,350

Cr Cash $1,350

05

Dr Supplies $1,800

Cr Cash$1,800

06

Dr Office Equipment $11,500

Cr Account Receivable$11,500

10 Dr Cash $8,600

Cr Account Payable$8,600

15

Dr Account Payable$3,180

Cr Cash$3,180

27

Dr Miscellaneous Expense$700

Cr Cash$700

30

Dr Miscellaneous Expense$550

Cr Cash$550

31

Dr Account receivable$37,200

Cr Fees Earned$37,200

31

Dr Utilities Expense$830

Cr Cash$830

31

Dr Dividend$2,000

Cr Cash$2,000

Explanation:

March 1

Dr Rent Expense$4,000

Cr Cash $4,000

03

Dr Advertising Expense $1,350

Cr Cash $1,350

05

Dr Supplies $1,800

Cr Cash$1,800

06

Dr Office Equipment $11,500

Cr Account Receivable$11,500

10 Dr Cash $8,600

Cr Account Payable$8,600

15

Dr Account Payable$3,180

Cr Cash$3,180

27

Dr Miscellaneous Expense$700

Cr Cash$700

30

Dr Miscellaneous Expense$550

Cr Cash$550

31

Dr Account receivable$37,200

Cr Fees Earned$37,200

31

Dr Utilities Expense$830

Cr Cash$830

31

Dr Dividend$2,000

Cr Cash$2,000

Identify whether each of the following examples belongs in M1 or M2. If an example belongs in both, be sure to check both boxes.
Example M1 M2
Clancy has $25,000 in a money market account.
Alex has a roll of quarters that he just withdrew from the bank to do laundry.
Eileen has $8,000 in a two-year certificate of deposit (CD).

Answers

Answer: a. M2 money supply

b. M1 and M2

c. M2 money supply

Explanation:

M1 is the money supply which consist of the physical currency, coin, travelers check, demand deposits, checkable deposits.

M2 is the money supply which consists of checking deposits, cash, convertible near money.

Based on the above description of M1 and.M2 money supply, the following questions are answered below.

a. Clancy has $25,000 in a money market account.

It is included in the M2 money supply.

b. Alex has a roll of quarters that he just withdrew from the bank to do laundry.

This will be included in both the M1 money supply and the M2 money supply.

c. Eileen has $8,000 in a two-year certificate of deposit (CD).

It is included in the M2 money supply.

Which pathway includes the most self-employed workers?

Banking Services

Insurance Services

Financial and Investment Planning

Business Financial Management

Answers

Business Financial Management

Answer:

The Answer is B

Explanation:

Im sure its B

In a command economy, which group is most responsible for producing the
goods people in society need?
A. Government agencies
B. Family members
C. International corporations
O
D. Private businesses
SUBNA
4
Help

Answers

It is the goverment agencies

If the variable overhead efficiency variance is $500 unfavorable and the variable overhead spending variance is $100 favorable, the journal entry will include a: _________

a. Debit to variable overhead efficiency variance
b. Credit to variable overhead efficiency variance
c. Debit to variable overhead spending variance
d. Credit to variable overhead spending variance

Answers

Answer:

a. Debit to variable overhead efficiency variance

d. Credit to variable overhead spending varian

Explanation:

Based on the information given in a situation where a variable overhead efficiency variance is UNFAVORABLE it will be DEBITED and variable overhead spending variance that is FAVOURABLE will be CREDITED.

Therefore the journal entry will include a:

a. Debit to variable overhead efficiency variance

d. Credit to variable overhead spending Variance

Upon completing an aging analysis of accounts receivable, the accountant for Rosco Works prepared an aging of accounts receivable and estimated that $6,300 of the $99,300 accounts receivable balance would be uncollectible. The allowance for doubtful accounts had a $530 debit balance at year-end prior to adjustment. What is the amount of bad debt expense

Answers

Answer:

the bad debt expense is $6,830

Explanation:

The computation of the bad debt expense is shown below:

= Estimated uncollectible amount + debit balance of allowance for doubtful accounts

= $6,300 + $530

= $6,830

Hence, the bad debt expense is $6,830

We simply added the above amount as it represent the bad debt amount

The same is to be considered  

6. Problems and Applications Q6 Suppose the Federal Reserve's policy is to maintain low and stable inflation by keeping unemployment at its natural rate. However, the Fed believes that the natural rate of unemployment is 4 percent when the actual natural rate is 5 percent. If the Fed bases its policy decisions on its belief, there will be a

Answers

Answer: Rising trend

Explanation:

If the actual natural rate is 5%, it would be higher than the natural rate of 4%. This would prompt the Fed to act in such a way as to reduce unemployment in the economy. To do this, they would embark on an expansionary monetary policy to get the economy growing so that more people can be employed.

When there is more money in the economy though, people will have more to buy goods and services and this increase in demand will cause inflation to rise to reflect that there is more demand than supply.

art of the screening process when choosing which markets to expand to involves gathering information on local markets. One way to gain information is by participating in trade fairs and trade missions. However, companies will often need additional information on markets that require further research. Collecting primary data in foreign markets can present some challenges in researchers especially because of cultural and technical differences between the markets. Identify whether each statement about the research process is most likely associated with cultural differences between markets or technical differences. 1. A number of languages may be spoken in a country and even in countries where only one language is used, a word's meaning can change from one region to the next.

Answers

Answer:

1. Cultural differences between markets.

Explanation:

There are many language across the world. There are even many languages spoken in a single country. People living in one region will speak different language than those who live in other nearby region of the same country. The meanings of many words also changes in different languages. The word of English language have some meaning and same words may have different meaning in other languages.

The following information pertains to Carla Vista Company.

1. Cash balance per bank, July 31, $7,738.
2. July bank service charge not recorded by the depositor $48.
3. Cash balance per books, July 31, $7,774.
4. Deposits in transit, July 31, $3,110.
5. $2,426 collected for Carla Vista Company in July by the bank through electronic funds transfer. The collection has not been recorded by Carla Vista Company.
6. Outstanding checks, July 31, $696.

Required:
Prepare a bank reconciliation.

Answers

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You plan to purchase a car for $28,000. Its market value will decrease by 20% per year. You have determined that the IRS-allowed mileage reimbursement rate for business travel is about right for fuel and maintenance at $0.485 per mile in the 1st year. You anticipate that it will go up at a rate of 10% each year, with the price of oil rising, influencing gasoline, oils, greases, tires, and so on. You normally drive 15,000 miles per year. Your MARR is 9%.

Required:
What is the optimum replacement interval for the car?

Answers

Answer:

The optimal replacement interval for the car = Year 6

Explanation:

Given that,

Car price = $ 28,000

Decline per year = 20%

Per mile Reimbursement = 0.485

Drive per year = 15,000

Rise in cost per year = 10%

MARR = 9%

Now,

For the optimum replacement interval , calculate the equivalent uniform annual cost(EUAC)

The year in which EUAC is minimum, that year is called the year of replacement.

Firstly calculate the marginal cost-

from the EUAC ,

Minimum at year 6 and the value is $ 14,400.41

So,

The optimal replacement interval for the car = Year 6

Journalize the following transactions, using the direct write-off method of accounting for uncollectible receivables:
Mar. 17 Received $275 from Shawn McNeely and wrote off the remainder owed of $1,000 as uncollectible.
Mar. 17 Reinstated the account of Shawn McNeely and received $1,000.

Answers

Answer:

Mar. 17

Dr Cash $275

Dr Allowance for uncollectible accounts $1,000

Cr Accounts receivables $1,275

July 29

Dr Accounts receivables $1,000

Cr Bad Debts expense $1,000

Dr Cash $1,000

Cr Accounts receivables $1,000

Explanation:

Preparation of the journal entries using the direct write-off method of accounting for uncollectible receivables

Mar. 17

Dr Cash $275

Dr Allowance for uncollectible accounts $1,000

Cr Accounts receivables $1,275

($275+$1,000)

July 29

Dr Accounts receivables $1,000

Cr Bad Debts expense $1,000

Dr Cash $1,000

Cr Accounts receivables $1,000

g 2. Problems and Applications Q2 Indicate whether each of the following transactions represents an increase in net exports, a decrease in net exports, an increase in net capital outflow, or a decrease in net capital outflow for the United States. Transaction Net Exports Net Capital Outflow Increase Decrease Increase Decrease The Sony pension fund buys a bond from the U.S. Treasury. A worker at a Sony plant in Japan buys some Georgia peaches from an American farmer. An American buys a Toyota. An American investor buys a controlling share in a South Korean electronics firm.

Answers

Answer:

The Sony pension fund buys a bond from the U.S. Treasury. ⇒  Decrease in Net Capital Outflow

Net Capital outflow is calculated by subtracting investments made by foreign entities in the United States from investments made by American entities in other countries. The Sony pension fund in this scenario, invested in the U.S. which would therefore reduce the Net capital outflow.

A worker at a Sony plant in Japan buys some Georgia peaches from an American farmer. ⇒ Increase in Net Exports

Net exports is calculated by subtracting the goods brought into the United States from other countries (imports) from those goods sold by the U.S. to other countries (exports). This scenario shows an increase in exports so Net exports will increase.

An American buys a Toyota. ⇒ Decrease in Net exports

An American buying a Toyota means they imported it so Net exports will go down.

An American investor buys a controlling share in a South Korean electronics firm. ⇒ Increase in Net Capital Outflow

Here cash is leaving the United States for an investment in another country so as per the definition above, Net Capital outflow is increasing.

Jane Dough Pizza's manager is now getting detailed costs for offering delivery service and needs to properly categorize them as either fixed or variable costs.
Please indicate whether each of the following items is a fixed cost or a variable cost.
a. Boxes for pizzas being delivered
b. Mileage reimbursement for delivery drivers
c. Monthly salary of programmer in charge of e-commerce website
d. Cost of raw materials for pizzas that get delivered
e. Monthly building lease

Answers

Answer:

variable costs.

variable costs.

fixed cost

variable costs.

fixed cost

Explanation:

Fixed costs are costs that do not vary with output. e,g, rent, mortgage payments

If production is zero or if production is a million, Mortgage payments do not change - it remains the same no matter the level of output.  

Hourly wage costs and payments for production inputs are variable costs

Variable costs are costs that vary with production

If a producer decides not to produce any output, there would be no need to hire labour and thus no need to pay hourly wages.  

If no pizzas are delivered, there would be no need for boxes. thus boxes of pizza is a variable cost

the salary of the programmer is not dependent on the level of output. thus it is a fixed cost

a. variable costs.

b. variable costs.

c. fixed cost

d. variable costs.

e. fixed cost

The following information should be considered:

Fixed costs are costs that do not vary with output such as rent, mortgage payments Variable costs are costs that vary with production

So based on this, the above are the answers.

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Third World Gamer Inc. manufactures components for computer games within a relevant range of 500,000 to 1,000,000 disks per year. Within this range, the following partially completed manufacturing cost schedule has been prepared:

Components produced 500,000 750,000 1,000,000
Total costs:
Total variable costs $600,000 (d) (j)
Total fixed costs 600,000 (e) (k)
Total costs $1,200,000 (f) (l)
Cost per unit:
Variable cost per unit (a) (g) (m)
Fixed cost per unit (b) (h) (n)
Total cost per unit (c) (i) (o)

Complete the cost schedule above. Round costs per unit to the nearest cent.

Answers

Answer:

Third World Gamer Inc.

Cost Schedule

Components produced   500,000     750,000    1,000,000

Total costs:

Total variable costs       $600,000     900,000   1,200,000

Total fixed costs              600,000     600,000     600,000

Total costs                  $1,200,000 $1,500,000 $1,800,000

Cost per unit:

Variable cost per unit       $1.20             $1.20           $1.20

Fixed cost per unit           $1.20            $0.80           $0.60

Total cost per unit           $2.40            $2.00           $1.80

Explanation:

a) Data and Calculations:

Components produced   500,000   750,000   1,000,000

Total costs:

Total variable costs       $600,000             (d)               (j)

Total fixed costs              600,000              (e)              (k)

Total costs                  $1,200,000               (f)               (l)

Cost per unit:

Variable cost per unit             (a)                 (g)              (m)

Fixed cost per unit                 (b)                 (h)               (n)

Total cost per unit                  (c)                  (i)               (o)

Variable cost per unit = $1.20 ($600,000/500,000)

Tano Company issues bonds with a par value of $180,000 on January 1, 2019. The bonds' annual contract rate is 8%, and interest is paid semiannually on June 30 and December 31. The bonds mature in three years. The annual market rate at the date of issuance is 10%, and the bonds are sold for $170,862.1. What is the amount of the discount on these bonds at issuance

Answers

Answer:

Tano Company

The amount of the discount on these bonds at issuance is:

= $9,138.

Explanation:

a) Data and Calculations:

Face value of bonds issued = $180,000

Proceeds from sale of bonds    170,862

Discount on bonds =                    $9,138

Bonds' contract rate = 8%

Market rate on date of issuance = 10%

b) The bonds were issued at a value that is less than the face or par value.  This implies that there are discounts on the bonds, totaling $9,138.  This is the difference between the face value of the bonds and the actual proceeds received from the issuance of the bonds.  This also explains why the bonds are paying 8% interest when the prevailing market rate is 10%.  The discounts compensate the bondholders for the reduced interest rate by selling at a discount.

Using the following information:

a. The bank statement balance is $3,780.
b. The cash account balance is $3,772.
c. Outstanding checks amounted to $729.
d. Deposits in transit are $649.
e. The bank service charge is $63.
f. A check for $39 for supplies was recorded as $30 in the ledger.

Required:
Prepare a bank reconciliation for Miller Co. for August 31.

Answers

Answer and Explanation:

The preparation of the bank reconciliation statement is presented below:

Bank balance  $3,780

Add: deposit in transit $649

Less: outstanding checks -$729

Adjusted bank balance $3,700

Cash balance $3,772

less: bank service charges $63

Less: error $9 ($39 - $30)

Adjusted cash balance $3,700

Hence, both cash balance and bank balance would be matched  

On December 31, 2020, Nash Inc. has a machine with a book value of $958,800. The original cost and related accumulated depreciation at this date are as follows. Machine $1,326,000 Less: Accumulated depreciation 367,200 Book value $958,800 Depreciation is computed at $61,200 per year on a straight-line basis. Presented below is a set of independent situations. For each independent situation, indicate the journal entry to be made to record the transaction. Make sure that depreciation entries are made to update the book value of the machine prior to its disposal.

Answers

Answer:

a. Depreciation expense = $40,800

b. Depreciation expense = $15,300

c. Depreciation expense = $35,700

Explanation:

Note: This question is not complete as the independent situations are omitted. The 3 independent situations are therefore provided to complete the question as follows:

a. A fire completely destroys the machine on August 31, 2021. An insurance settlement of $438,600 was received for this casualty. Assume the settlement was received immediately.

b. On April 1, 2021, Marigold sold the machine for $1,060,800 to Yoakam Company.

c. On July 31, 2021, the company donated this machine to the Mountain King City Council. The fair value of the machine at the time of the donation was estimated to be $1,122,000.

The explanation of the answers is now provided as follows:

Note: See the attached excel file for the journal entry for each of the 3 independent situations.

In the attached excel file, the depreciation for each situation are calculated as follows:

a. Depreciation expense = $61,200*8/12 = $40,800

b. Depreciation expense = $61,200*3/12 = $15,300

c. Depreciation expense = $61,200*7/12 = $35,700

QS 7-5 (Algo) Allowance method for bad debts LO P2 Gomez Corp. uses the allowance method to account for uncollectibles. On January 31, it wrote off an $2,800 account of a customer, C. Green. On March 9, it receives a $2,300 payment from Green. 1. Prepare the journal entry for January 31. 2. Prepare the journal entries for March 9; assume no additional money is expected from Green.

Answers

Answer:

1. Jan 31

Dr Allowance for doubtful accounts $2,800

Cr Accounts receivable—C. Green $2,800

2. Mar 09

Dr Accounts receivable—C. Green $2,300

Cr Allowance for doubtful accounts $2,300

3. Mar 09

Dr Cash $2,300

Cr Accounts receivable—C. Green $2,300

Explanation:

1. Preparation of the journal entry for January 31.

Jan 31

Dr Allowance for doubtful accounts $2,800

Cr Accounts receivable—C. Green $2,800

2. Preparation of the journal entry for March 9

Mar 09

Dr Accounts receivable—C. Green $2,300

Cr Allowance for doubtful accounts $2,300

3. Mar 09

Dr Cash $2,300

Cr Accounts receivable—C. Green $2,300

Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of 8,000 computers: Actual: Variable factory overhead $101,750 Fixed factory overhead 180,000 Standard: 8,000 hrs. at $31 248,000 If productive capacity of 100% was 10,000 hours and the factory overhead cost budgeted at the level of 8,000 standard hours was $284,000, determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate was $18 per hour. Enter a favorable variance as a negative amount, and an unfavorable variance as a positive amount. Variance Amount Favorable/Unfavorable Controllable $fill in the blank 1 Volume fill in the blank 3 Total factory overhead cost variance $fill in the blank 5

Answers

Answer:

Yes sir I am so so confused why you don’t want me to tell him I love lol you know that I’m a little bit scared you like I just want to see that you’re going crazy you ain’t doing anything wrong with your hair you are not even home I just want you to go see me again you have a lot been going on your phone and your mom you know that I’m going crazy lol oh my gosh you don’t look like and I’m sorry I’m sorry but you have no reason I just wanted to see if your dad would have you do you have any questions or you don’t want me too bad you know what

Explanation: what do I mean by your phone or your name on the sun and your name on the woods again I mean yyyyou and

what does NBT
stand for​

Answers

The meaning of the abbreviation NBT is the National Benchmark Test.

National Benchmark Test

The meaning of the abbreviation NBT is the National Benchmark Test.

The National Benchmark Tests (NBTs) are assessments for first-year applicants into higher education institutions.

It is crucial in order to assess a candidate's ability, academic literacy as well as  his or her quantitative and Mathematics ability

Learn more on National Benchmark Test here: https://brainly.com/question/22257700

Alexa Inc. purchased equipment in 2018 for $50,000 with no residual value. On December 31, 2020, accumulated depreciation using the straight-line method for financial reporting was $15,000. For tax purposes, Alexa uses MACRS depreciation resulting in $35,600 in accumulated depreciation for tax purposes on December 31, 2020. Taxable income was $100,000 for 2020 and the company's tax rate is 25%.

Required:
a. Determine the GAAP basis of equipment (net) on December 30, 2020.
b. Determine the tax basis of equipment on December 30, 2020.

Answers

Answer:

a. $35,000

b. $14,400

Explanation:

The computation is shown below;

a. GAAP basis of equipment (net) is

Purchase equipment $50,000

Less: accumulated depreciation for finnacial reporting -$15,000

Equipment (net) $35,000

b. Tax bais of equipment is

Purchase equipment $50,000

Less: accumulated deprecation for tax purposes - $35,600

Equipment net $14,400

The above should be considered and relevant too

The study of how wealth is created and distributed is

Answers

Answer:

'Economics'

Explanation:

Not really much to say here.

how much should a charm bracelet be with 1 tassel and mermaid tail.

Answers

Answer: The cost should be around $6 at least

Explanation:

Answer:

any where from 10 to 24 dollars. If it super lux maybe 50 something

Explanation:

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