Any object or objects that a group of people used to buy and sell goods and services is called money. Therefore, option B is correct.
What is money ?Any tangible object or verifiable record that is commonly accepted as payment for products and services as well as the repayment of debts, such as taxes, in a specific nation or socioeconomic setting is referred to as money.
According to economists, there are four basic sorts of money: commercial money, fiduciary money, fiat money, and commodity money. Commodity money is money that derives its worth from the commodities from which it is made.
Thus, option B is correct.
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ace racket company manufactures two types of tennis rackets, the junior and pro striker models. the production budget for july for the two rackets is as follows: junior pro striker production budget 8,500 units 19,100 units both rackets are produced in two departments, forming and assembly. the direct labor hours required for each racket are estimated as follows: forming department assembly department junior 0.25 hour per unit 0.40 hour per unit pro striker 0.30 hour per unit 0.65 hour per unit the direct labor rate for each department is as follows: forming department $18.00 per hour assembly department $8.00 per hour
The total cost is $202,660 for junior racket.
For the Junior Racket:
Forming Department: 8,500 units x 0.25 hours per unit = 2,125 direct labor hours x $18.00 per hour = $38,250
Assembly Department: 8,500 units x 0.40 hours per unit = 3,400 direct labour hours x $8.00 per hour = $27,200
Total Cost: $38,250 + $27,200 = $65,450
For the Pro Striker Racket:
Forming Department: 19,100 units x 0.30 hours per unit = 5,730 direct labour hours x $18.00 per hour = $103,340
Assembly Department: 19,100 units x 0.65 hours per unit = 12,415 direct labour hours x $8.00 per hour = $99,320
Total Cost: $103,340 + $99,320 = $202,660
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madeline rollins is trying to decide whether she can afford a loan she needs in order to go to chiropractic school. right now, madeline is living at home and works in a shoe store, earning a gross income of $1,020 per month. her employer deducts a total of $200 for taxes from her monthly pay. madeline also pays $130 on several credit card debts each month. the loan she needs for chiropractic school will cost an additional $170 per month.
32 32% of the college loan the loan she needs for chiropractic school will cost an additional $170 per month.
The following question can be solved with the help of the following formula of debt to income ratio.
Debt to Income ratio = Debt Payments/Gross Monthly Income
820 - 145 = 675
95 / 675 = .14 14% without college loan
95 + 120 = 215
215 / 675 = 32 32% with college loan.
DTI analyzes your monthly loan payments to your monthly take-home earnings. It precisely refers to the percentage of your gross monthly income (pre-tax) that is used to settle debts like rent, a mortgage, credit cards, and other commitments.
When you apply for loans, lenders consider your DTI to assist them determine the likelihood that you will take on further debt. Utilize the data below to calculate your own debt-to-income ratio and understand what it means to lenders.
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if firms in a monopolistically competitive market are incurring economic losses which of the following
When the market adapts to the long-run equilibrium if firms in a monopolistic competitive market are suffering economic losses and existing firms (who are able to stay in the market) shows there is an increase in demand for each firm. Option D is correct
What is monopolistic competitive market?When a large number of businesses provide rival goods or services that are comparable but imperfect alternatives, monopolistic competition exists.
A monopolistic competitive market has minimal entry requirements, and decisions made by any one firm do not immediately affect those of its rivals.
In monopolistic competition, businesses use price and marketing methods to distinguish their goods. Further, the costs and other impediments that prevent new rivals from entering a market are minimal.
Thus Option D is correct.
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a corporation reported cash of $14,500 and total assets of $178,800 on its balance sheet. its common-size percent for cash equals:
The phrase "Common-size percent for cash =$14,500 / $178,800 =8.10%" is correct.
What is the accounting definition of cash?Cash is a term used in accounting and finance to describe immediately usable currency (currency). It might be stored physically, retained digitally, or put into a quick monetary instrument. Cash only refers to currency that is physically present while discussing economics.
What does money mean in a business?Cash is the term used to refer to the actual cash that a firm owns, including any bank accounts and notes and coins. Money management is crucial since it enables a corporation to pay its debts. Paying suppliers is one of the business's major cash outlays. amount paid to workers.
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Jamestown Applied Electronics has been in business for over 20 years. They have developed rules that govern the attraction, selection, and retention of high-quality employees. The processes are known by all of the workers. The workers support the decisions of the decision makers because they believe them to be processes that ensure fairness to employees. The employees of Jamestown Applied Electronics most likely believe the company uses ________ in their treatment of employees.
The employees of Jamestown Applied Electronics most likely believe the company uses procedural justice in their treatment of employees.
The concept of procedural justice calls for fairness in the procedures used to settle disputes and distribute resources. Discussions about the administration of justice and judicial proceedings are one part of procedural justice. This idea of procedural justice can be applied to nonlegal contexts where some process is used to resolve conflict or divide benefits or burdens. It is connected to due process (in the United States), fundamental justice (in Canada), procedural fairness (in Australia), and natural justice (in other Common law jurisdictions). Social psychology, sociology, and organizational psychology all investigate various facets of procedural fairness.
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Slavery had a disruptive impact on the traditional political parties and immediately caused political transformation in the mid-1850s. Identify the economic and social changes that led to the rise of the Republican Party.
completion of the market revolution and industrialization
mass immigration from Europe
industrial economy
Mass migration from Europe, the completion of industrialization, the market revolution, and an industrialized economy were a few of the economic and social factors that contributed to the growth of the Republican Party.
The market revolution brought unprecedented economic expansion and personal prosperity, but it also gave rise to a rising lower class of propertyless laborers and a string of cataclysmic depressions known as "panics." Many Americans struggled to make ends meet while working for pitiful pay.
The Market Revolution, which took place in the first half of the 19th century and was largely attributed to the industry's widespread mechanization as well as the expansion and integration of numerous domestic and international economic markets, represented a fundamental change in the American economy.
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which of these methods are used by the federal reserve to affect the supply of money in the u.s. economy, and which are not? place each item under the appropriate title. you are currently in a sorting module. turn off browse mode or quick nav, tab to items, space or enter to pick up, tab to move, space or enter to drop. methods the fed uses to affect the money supply not a method used by the fed
To control the money supply , three instruments are open market operations, the discount rate, and reserve requirements.
The Federal Reserve, the country's central bank, was established by the U.S. government to control the money supply and avert economic disasters.
Being the lender of last resort and enabling banks to borrow from the central bank when necessary is one of the key goals of the Federal Reserve.
In order to control the money supply and promote stable economic growth, the Fed primarily employs three instruments. The three tools are open market operations, discount rates, and reserve requirements.
Each of them has a unique effect on the money supply and can be used to either shrink or grow the economy.
The commercial banks borrow more money from the Fed when the discount rate is lower, which results in a rise in reserves and, consequently, the money supply
The question is incomplete So, I've answered in general
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in its purchasing department, a firm pursuing differentiation would be open to purchasing high-quality inputs even if they cost a little more. quizler
In its purchasing department, a firm pursuing differentiation would be open to purchasing high-quality inputs even if they cost a little more is false.
Is a high or cheap price likely to be a part of a differentiation strategy?The foundation of differentiation strategy is the idea that one needs to have a distinct positioning. Higher prices serve as a sort of "make up" for their higher costs, whereas differentiation leadership concentrates on offering advantages that create value for customers.
Therefore, Many businesses try to cut costs while simultaneously improving their goods and services as part of an integrated cost leadership/differentiation strategy. Companies could invest in creating overall quality management systems and enhancing marketing efficacy in order to successfully implement this strategy.
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See full question below
'in its purchasing department, a firm pursuing differentiation would be open to purchasing high-quality inputs even if they cost a little more. true/false
leno's tux boutique is in dire need of additional blue bow ties for the start of wedding season. he has to quickly order more for his inventory. which of the following would not incur a shortage cost for the business
The following would not incur a shortage cost for the business is discounts on other sale items to quickly make space for the bow ties.
Costs associated with shortages include: Time wasted when raw materials are unavailable. Shortage costs are those costs spent when a company runs out of stock. Costs associated with shrinkage, theft, and obsolescence.
Examples of shortfall expenses include expedited shipment for backorder fulfillment or stock replenishment at rates over wholesale. The most harmful costs of a shortage, however, are an unhappy customer and a temporary or permanent loss of sales as a result of inadequate stock levels.
Costs of shortages are also known as missed opportunities. These are essentially missed economic opportunities brought on by a lack of or inaccessibility to raw resources.
The given question is incomplete, the complete question is:
Leno's tux boutique is in dire need of additional blue bow ties for the start of wedding season. he has to quickly order more for his inventory. which of the following would not incur a shortage cost for the business?
a. Additional employees to restock the large order of incoming bow ties
b. Discounts on other sale items to quickly make space for the bow ties
c. Next-day shipping on 30 dozen bow ties
d. The wholesale cost to quickly replenish the inventory of bow ties
e. None of the answers are correct
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Consider Kellogg's production and price choices in the breakfast cereal industry when it is characterized by the price leadership model. Under this theory of oligopoly, all firms other than the dominant firm act as sum of their marginal cost curves is their . Therefore, the horizontal curve. The following graph shows the market demand curve and the horizontal sum of the marginal cost curves of all firms other than the dominant firm:
Consider Kellogg's production and price choices in the breakfast cereal industry when it is characterized by the price leadership model. Under this theory of oligopoly.
Briefing:-all firms other than the dominant firm act as price takers sum of their marginal cost curves is their supply Curve . Therefore, the horizontal curve.
What makes them price takers?A price taker is a person, group, or business that must accept the going rate since they don't have the market share to set the rate. In an economy, the majority of players sell identical goods at the same prices.
A supply curve: what causes it?In an industry, a change in the number of suppliers affects the quantity offered at each price, which alters supply. The supply curve is shifted to the right when there are more vendors providing a good or service, and to the left when there are fewer providers.
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at its inception, peacock company purchased land for $50,000 and a building for $220,000. after exactly 4 years, peacock transferred these assets and cash of $75,000 to a newly created subsidiary, selvick company, in exchange for 25,000 shares of selvick's $5 par value stock. peacock uses straight-line depreciation. when purchased, the building had a useful life of 20 years with no expected salvage value. an appraisal at the time of the transfer revealed that the building has a fair value of $250,000.
Company S should record the building at $220,000 and accumulated depreciation of $44000 and investment of $301000
Cost of Building to Company P at the time of purchase= $220000
Expected useful life at the time of purchase = 20 years
Expected salvage value at the time of purchase = $0
Therefore,
Annual depreciation = Cost - salvage value/ expected - useful value
= 220000-0/20
= $11000
Annual depreciation at the time of transfer = $11000 × 4
= $44000
The amount of investment to be reported by Company P should be computed as follows:
Investments = cost of land + Book value of building + cash
= $50000 + 220000 - 44000 + 75000
= $301000
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Management should focus its sales and production efforts on the product or products that will provide
a. the highest sales revenue b. the lowest product costs
c. the maximum contribution margin
d. the lowest direct labor hours. e. the maximum contribution margin.
Management should focus its sales and production efforts on the product or products that will provide the maximum contribution margin. So option c. is correct.
The contribution margin represents the portion of a product's sales revenue that isn't used up by variable costs, and so contributes to covering the company's fixed costs. The concept of contribution margin is one of the fundamental keys in break-even analysis. Low contributions margin is present in labor-intensive companies with few fixed expenses, while capital-intensive, industrial companies have higher fixed costs and thus, higher contribution margins.
The best contribution margin is 100%, so the closer the contribution margin is to 100%, the better.
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The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of December 31. No. Account Title 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 307 Common stock 318 Retained earnings 319 Dividends 404 Services revenue 612 Depreciation expense-Equipment 622 Salaries expense 637 Insurance expense 640 Rent expense 652 Supplies expense Totals Debit Credit $18,000 9,600 2,000 23,000 $ 6,500 3,015 38,600 6,000 45,400 2,000 26,468 1,907 3,042 1,498 $93,515 $93,515 1. Prepare the December 31, closing entries for Cruz Company. Assume the account number for Income Summary is 901. 2. Prepare the December 31, post-closing trial balance for Cruz Company. Note: The Retained Earnings account balance was $38,600 on December 31 of the prior year. Complete this questions by entering your answers in the tabs below. < 2 3 4 Record the entry to close revenue accounts. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal Journal entry worksheet < 1 2 3 4 > Record the entry to close expense accounts. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal Journal entry worksheet < 1 2 3 4 > Record the entry to close income summary account. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal Journal entry worksheet < د 2 3 4 Record the entry to close the dividends account. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal Prepare the December 31, post-closing trial balance for Cruz Company. Note $38,600 on December 31 of the prior year. CRUZ COMPANY Post-Closing Trial Balance December 31 Debit Credit Totals
After deducting dividend payments, a company's retained earnings are its total net earnings or profits. The term "retained" refers to a crucial idea in accounting that describes how earnings were held by the corporation rather than distributed to shareholders as dividends.
Because of this, retained earnings go down when a business experiences a loss or pays dividends and go up when new profits are generated. Retained earnings can be used by businesses, among other things, to boost output, hire additional salespeople, introduce new products, or repurchase shares.
The ability of a corporation to reinvest its net profits back into the company or distribute it to shareholders is demonstrated by retained earnings, which is a crucial factor in determining the financial health of a company.
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Match the description of the financial statement analysis technique to the data analytics type: Financial Statement Analysis Technique Data Analytics Type
1. Use of time series analysis to project future operating cash flows 2. Past performance comparisons to competitor
3. Use of analyst forecasts to project future sales 4. Drill-down analytics to determine relations/patterns/linkages between income statement line items 5. Vertical and horizontal analysis 6. Summary statistics of past performance 7. Net present value analysis using forecasts of earnings and cost of capital Descriptive Diagnostic Predictive Prescriptive
Analyzing data to find answers, spot trends, and draw conclusions is known as data analytics. Business analytics is the term used frequently to describe data analytics applied in business.
What is Data Analytics ?To analyze data, you can utilize software, frameworks, and applications like , Data Wrapper, Infogram, Tableau, and Zoho Analytics.
These can assist you in exploring data from many perspectives and producing visuals that shed light on the narrative you're attempting to tell.
Types of Analytics :-
Describing Information
What happened is answered by descriptive analytics.
Analytical Diagnostics
The subsequent logical inquiry, "Why did this happen?" is answered by diagnostic analytics.
Statistical Analysis
In order to predict future trends or events or to provide a response to the question "What might happen in the future," predictive analytics is utilized.
Analytical Prescriptive
Prescriptive analytics is the last.
Hence
1.Use of time series analysis to project future operating cash flows- Prescriptive Analysis .
2. Past performance comparisons to competitor- Descriptive Analysis
3. Use of analyst forecasts to project future sales - Predictive Analytics
4. Drill-down analytics to determine relations/patterns/linkages between income statement line items - Diagnostic Analysis
5. Vertical and horizontal analysis - Predictive Analytics
6. Summary statistics of past performance - Descriptive Analysis
7. Net present value analysis using forecasts of earnings and cost of capital Prescriptive Analytics
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suppose the imposition of a trade policy did not alter national saving or the level of nco. the imposition of a trade restriction on imports would cause the real exchange rate to increase and the real interest rate to decrease.
True Suppose that the imposition of a trade policy did not affect the level of NCO or national saving. The real exchange rate would rise and the real interest rate would fall as a result of trade restrictions on imports.
What effect does NCO have on the real exchange rate?The market for foreign exchange experiences an increase in the supply of pesos as a result of the increase in NCO. The peso loses value at the real exchange rate.
What impact do real interest rates have on net capital outflows?Net capital outflow This is because our assets are more appealing when domestic real interest rates are higher. Since more capital is entering the economy, this will attract foreign investment, which will in turn reduce net capital outflow.
What effect does the global interest rate have on investment demand?In the event that nations began to sponsor the venture, by giving speculation tax break, then, at that point, the world venture request will increment and furthermore the loan cost will likewise increment. As a result, the global interest rate's investment demand function will turn to the right.
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Full Question = Suppose the imposition of a trade policy did not alter national saving or the level of NCO. The imposition of a trade restriction on imports would cause the real exchange rate to increase and the real interest rate to decrease.
Select one:
True
False
gannon company had the following information at december 31: finished goods inventory, january 1 $ 30,000 finished goods inventory, december 31 90,000 if the cost of goods manufactured during the year amounted to $1,260,000 and annual sales were $1,650,000, the amount of gross profit for the year is group of answer choices $390,000. $1,200,000. $450,000. $330,000.
The amount of gross profit for the year is calculated to be $450,000.
How to calculate gross profit for the year?Revenue less the expense of supplying the goods or services offered is known as gross profit.
The gross profit in this case for the entire year is $450,000. Gross profit (or gross margin) is the difference between a company's total revenue and its cost of goods sold (COGS). Knowing a company's gross profit is significant since it shows the profit before operational costs, interest costs, and taxes.
Thus, We must compute the cost of products sold in order to determine the gross profit for the year:
$1,650,000 - $1,260,000 = $390,000
$390,000 - $ 30,000 = $360,000
$360,000 + $90,000 = $450,000
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acme, inc. had cost of goods sold of $2,000. if beginning inventory was $2,100 and ending inventory was $500, acme's purchases must have been $
Acme's purchases, given the cost of goods sold, and the beginning inventory, were $ 400
How to find the purchases ?When given the cost of goods sold , the beginning inventory , and the ending inventory, the purchases can be found in the formula :
Cost of goods sold = Beginning inventory + Purchases - Ending inventory
Purchases = Cost of Goods sold - Beginning inventory + Ending inventory
The purchases for Acme Inc. are therefore :
Purchases = 2, 000 - 2, 100 + 500
= $400
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Cub Company, a calendar-year entity, had 3,100 geothermal heating pumps in its beginning inventory for 20X1. On December 31, 20X0, the heating pumps had been adjusted down to $900 per unit from an actual cost of $1,000 per unit. It was the lower of cost or market. Cub purchased no additional units during 20X1. The following additional information is provided for 20X1:
Quarter Date Inventory (units) Unit Market Value
1 March 31, 20X1 1,770 $ 885 2 June 30, 20X1 1,480 930 3 September 30, 20X1 1,340 840 4 December 31, 20X1 990 870 Required:
Please respond to the following two independent scenarios as requested.
a. Case 1: The company does not have sufficient experience with the seasonal market for geothermal pumps and assumes that any reductions in market value during the year will be permanent.
(1) Determine the cost of goods sold for each quarter.
(2) Verify the total cost of goods sold by computing annual cost of goods sold on a lower-of-cost-or-market basis.
b. Case 2: The company has prior experience with the seasonal market for geothermal pumps and expects that any reductions in market value during the year will be only temporary and will recover by year-end.
(1) Determine the cost of goods sold for each quarter.
(2) Verify the total cost of goods sold by computing annual cost of goods sold on a lower-of-cost-or-market basis.
Case 1: The company does not have sufficient experience with the seasonal market for geothermal pumps and assumes that any reductions in market value during the year will be permanent.
(1) Cost of Goods Sold per Quarter:
1st Quarter: 3,100 units x $900 per unit = $2,790,000
2nd Quarter : 1,770 units x $885 per unit = $1,568,450
3rd Quarter : 1,480 units x $930 per unit = $1,374,400
4th Quarter : 990 units x $870 per unit = $855,300
2) Total Cost of Goods Sold:
Beginning Inventory: 3,100 units x $900 per unit = $2,790,000
Purchases: 0 units x $0 per unit = $0
Total Cost of Goods Available for Sale: $2,790,000
Adjusted Market Value: 3,100 units x $900 per unit = $2,790,000
Total Cost of Goods Sold: $2,790,000
b. Case 2:The company has prior experience with the seasonal market for geothermal pumps and expects that any reductions in market value during the year will be only temporary and will recover by year-end.
(1) Cost of goods sold for each quarter.
Quarter Date Inventory (units) Unit Market Value Cost of Goods Sold
1 March 31, 20X1 1,770 $ 885 $1,543,450 2 June 30, 20X1 1,480 930 $1,373,400 3 September 30, 20X1 1,340 840 $1,113,200 4 December 31, 20X1 990 870 $848,300
(1) Cost of Goods Sold for Each Quarter:
Quarter Date Value Cost of Goods Sold in units
1 March 31, 20X1 1,770 $885 $1,000 2 June 30, 20X1 1,480 930 $1,000 3 September 30, 20X1 1,340 840 $1,000 4 December 31, 20X1 990 870 $900
(2) Total Cost of Goods Sold:
Beginning Inventory: 3,100 units x $900 = $2,790,000
Purchases: 0 units x $0 = $0
Total Cost of Goods Available for Sale: $2,790,000
Less Ending Inventory: 990 units x $900 = $891,000
Cost of Goods Sold: $1,899,000
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the financial statement that reports net income and owner withdrawals for the period is called the . multiple choice question. statement of owner's equity income statement balance sheet
The financial statement that reports net income and owner withdrawals for the period is called the statement of owner's equity.
Fconomic statements are formal statistics of the monetary activities and function of a business, man or woman, or different entity. applicable financial facts is supplied in a established way and in a form which is straightforward to recognize.
Monetary statements are a hard and fast of documents that display your business enterprise's monetary reputation at a particular point in time. They consist of key information on what your agency owns and owes and what kind of cash it has made and spent.
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a is a document which gives up the right to make a claim against the community association for payments not received
A waiver of license is a document which gives up the right to make a claim against the community association for payments not received.
A community association is a non-governmental organisation that brings together residents of a particular region, such as a neighbourhood, village, condominium, cooperative, or collection of property owners. Participation may be optional, entail a certain level of residency, or involve belonging to an intentional community. Community associations can function as social clubs, neighbourhood improvement projects, nonprofits, youth sports leagues, community gardens, or quasi-governmental organisations. An association of residents is not a governmental authority. Instead, it is a membership organisation that fulfils a specific function for a community or a group of homeowners in a particular region. Typically, the homeowners organisation is formalised with elected officers.
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which of the following is correct? question 2 options: the transactions demand for money is downsloping because the opportunity cost of holding money varies inversely with the interest rate. the asset demand for money is downsloping because the opportunity cost of holding money declines as the interest rate rises. the asset demand for money is downsloping because the opportunity cost of holding money increases as the interest rate rises. the asset demand for money is downsloping because bond prices and the interest rate are directly related. next page
The asset demand for money is down sloping because bond prices and the interest rate are directly related is the correct option.
As per the given data,
we have to choose the correct options among given statements:
Firstly, we will know about demand of money.
Money demand is the relationship between the amount of money people want to hold and the factors that determine that amount.
In other words, Money demand is money that people hold to pay for goods and services that they expect to buy. When you carry money in your purse or wallet to buy a movie ticket or maintain a checking balance so you can buy groceries later in the month, you are holding the money as part of your business of making money.
The demand curve for money shows the amount of money needed at any given interest rate, all other factors unchanged. Such a curve is shown in Figure "The Demand Curve for Money". An increase in interest rate decreases the amount of money needed. A decrease in the interest rate increases the amount of money demanded.
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fred operates two resorts in the miami area. his company works hard to develop long-term relationships by calling customers to make sure that they are satisfied with their recent visits to the resorts and with offers to host free. in this case, fred is most likely using concepts that were popularized during the:
In this case, fred is most likely using concepts that were popularized during the: Relationship Era
Relationship Marketing Era can be defined as the marketing era, long-term partnerships as well as short-term ones with clients are prioritized. It helps in gaining customer loyalty is the ultimate objective.It is widely known as the customer relationship marketing, aims to forge deep, even emotional relationships with consumers in order to increase repeat business, free word-of-mouth advertising, and lead generation from customer information.
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which of the two companies, as judged by the information given above, would you recommend as the better risk and why? assume that the ending account balances are representative of the entire year.
The Plunkett Company's current ratio is 3.03, which is lower than the Herring Company's current ratio of 3.25.
Why is the current ratio important?The current ratio, which compares a company's current assets and liabilities, is a common method for determining a company's capacity to satisfy short-term financial obligations. A ratio that is too low or even too high can indicate future issues and be a reliable indicator of financial health.
When a company makes a credit purchase whose payback is finished within a calendar year, or borrows money from a third party for a duration less than a year, this obligation is referred to as being short-term.
Current Ratio of Plunkett= [tex]\frac{current assets}{current liability}[/tex]
=[tex]\frac{910,000}{300,000}[/tex]
= 3.03
Current Ratio of Herring= [tex]\frac{current assets}{current liability}[/tex]
= [tex]\frac{1,140,000}{350,000}[/tex]
= 3.25
The bank can approve the request due to the herring company's low risk and capacity to pay back the loan with interest when it matures. Both businesses have a six-month loan need. Therefore, both companies view loans as a short-term obligation. By analyzing the companies' short-term solvency, the current ratio indicates the company with the lesser risk. Because the Plunkett firm's current ratio is larger than that of the Herring company, the current ratio suggests that the Plunkett company is at a lower risk. The current ratio of the Plunkett Company is 3.03, which is less than the current ratio of the Herring Company, which is 3.25.
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the complete question is:
Which of the two companies, as judged by the information given below, would you recommend as the better risk and why? Assume that the ending account balances are representative of the entire year.
As loan analyst for Madison Bank, you have been presented the following information:
Plunkett Co. Herring Co.
Assets
Cash $120,000 $320,000
Receivables 220,000 302,000
Inventories 570,000 518,000
Total current assets 910,000 1,140,000
Other assets 500,000 612,000
Total assets $1,410,000 $1,752,000
Liabilities and Equity of Stockholders
Current Liabilities $300,000 $350,000
Long-term liabilities 400,000 500,000
Capital stock and retained earnings 710,000 902,000
Total liabilities and equity of stockholders $1,410,000 $1,752,000
Annual sales $930,000 $1,500,000
Rate of gross profit on sales 30% 40%
Each of these companies has requested a loan of $50,000 for 6 months with no collateral offered. Your bank has reached its quota for loans of this type. Only one of these requests is to be granted.
1. Kegler Bowling installs automatic scorekeeping equipment with an invoice cost of $190,000. The electrical work required for the installation costs $20,000. Additional costs are $4,000 for delivery and $13,700 for sales tax. During the installation, a component of the equipment is carelessly left on a lane and hit by the automatic lane-cleaning machine. The cost of repairing the component is $1,850.
What is the total recorded cost of the automatic scorekeeping equipment?
Included DR Machinery Total cost DR Expense Excluded Invoice cost Electric al work required for installation Delivery costs Sales tax Repair costs $ 190,000 20,000 4,000 13,700 1,850 $229,550 Total
2. Known liabilities:
-a. Include accounts payable, notes payable, and payroll
-b. Are obligations set by agreements, contracts, or laws
-c. Are measurable
-d. Are definitely determinable
-e. All of the choices are correct
Invoice cost $190,000
Electrical and installation $20,000
Delivery cost $4,000
Sales Tax $13,700
Total equipment cost $227,700
repair costs are revenue expenditure therefore they will not be capitalized. Further sales tax are non refundable ad delivery cost also necessary for making the equipment available for intended use.
Accounts payable, notes payable, payroll obligations, sales taxes, unearned revenues, and leases are examples of known liabilities. A liability is a potential future payment of assets or services that a business is currently obligated to make as a result of past transactions or events. Known liabilities are liabilities that have a monetary value that he must pay.
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KNOWLEDGE CHECK Which of the following statements is true?
When you buy an equity, your potential loss is unlimited and your maximum potential gain is 100%
When you buy a bond , you are promised the residual income of that company
When you buy an equity, your are promised a steam of fixed dividends
When you buy an equity, the most you can lose is 100% and your potential gain is unlimited.
The true statement is When you buy an equity, your potential loss is 100% and your maximum potential gain is unlimited.
Describe an equity.When discussing ownership of assets with future liabilities, such as debts, we use the term equity. Liabilities are subtracted from asset values to determine equity for accounting purposes. The amount of money that a company's owner has invested in or owns is known as equity.
The amount of equity a company has is shown on its balance sheet as the difference between its liabilities and assets. The share price or a value decided upon by investors or valuation experts is used to determine the equity value.
Equity is the ownership that remains after all liabilities associated with an asset have been settled. As an illustration, if you owe $10,000 on a car that is worth $25,000 and you own it, you have $15,000 in equity in that
when you purchase stock, your maximum potential gain is limitless and your highest potential loss is 100%.
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larry's lunchcart is a small street vendor business. if larry makes 15 pretzels per day in his pretzel shop and incurs a total cost of $16.50, his average total cost per pretzel per day is
Larry's lunchcart is a small street vendor. If Larry makes pretzels in his shop he makes 15 pretzels a day and the total cost is $16.50, the average total cost per pretzel per day is $1.10.
What do street vendors do?A street vendor is someone who sells goods to the general public without having a permanent structure from which to sell. Vendors may be stationary in the sense that they occupy space on sidewalks and other public/private spaces.
Which country has the most street vendors?Thailand is a mecca for street food. For one thing, the food is safe, so tourists have been visiting street stalls of Thailand for cheap and delicious food for years. There are roving bike vendors.
What is the biggest problem with street vendors?They face eviction, bribery, inaccessibility to various government facilities, lack of facilities such as toilets and lighting, lack of social security, and other similar hurdles.
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an egyptian firm exporting cotton to the united states and an american company hiring an indian call center to answer its phones are examples of which of the following? multiple choice question. balance of payments an international business plan international trade an international asset transaction
International trade examples include a cotton exporter from Egypt to the US and an American company that uses an Indian call center to handle its phone calls.
Consumer products like televisions and apparel, capital goods like machinery, raw materials, and food are some of the things that are frequently traded. Other transactions involve services, like payments for foreign patents and travel services (see service industry).
The biggest African export market for the US is Egypt. Wheat and corn, mineral fuel and oil, machinery, airplanes, and iron and steel items are among the U.S. exports to Egypt. Clothing, natural gas and oil, fertilizers, textiles, and agricultural goods are among the imports from Egypt that the United States buys.
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Forest is starting a lawn care business but needs to buy lawnmowers. He gets some money from Jenny, whom Forest will pay back over time with interest of 6 percent, and some money from Dan, whom Forest promises 10 percent of his future profits. In this case,
a) Jenny is a stockholder, and Forest is a bondholder.
b) Jenny is a stockholder, and Dan is a bondholder.
c) Dan is a stockholder, and Forest is a bondholder.
d) Dan is a stockholder, and Jenny is a bondholde
d) Dan is a stockholder, and Jenny is a bondholder. A lawnmower is a tool used to trim grass or other vegetation. In addition to clearing fields of grass or other species of grass.
The regularly used lawn mowers are built of incredibly thin, durable, and sharp iron plates, which allows them to cut the grass with ease. A lawn mower is a device that uses one or more rotating blades (or a reel) to trim a grass surface to an equal height. It is also referred to as a mower, grass cutter, or lawnmower. A lawnmower is a piece of equipment used to trim grass on lawns. In lawn mowers, there are two primary blade types. Rotary mowers are lawn mowers that use a single blade and spin about a single vertical axis. Cylinder or reel mowers, on the other hand, use a cutting bar and several blade assemblies that rotate about a single horizontal axis.
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frederick tims, a single individual, sold the following investment assets this year. asset date purchased date sold tax basis sales price 100 shares gamma incorporated 01/04/10 05/07/22 $ 5,000 $ 15,000 30 shares land incorporated 12/31/92 10/01/22 $ 75,000 $ 100,000 50 shares down corporation 05/10/14 11/01/22 $ 12,000 $ 8,000 10 shares extel incorporated 03/25/09 02/19/22 $ 17,000 $ 5,000 if frederick's preferential tax rate on adjusted capital gain is 15%, compute his tax attributable to the above sales. multiple choice $5,250 $2,850 $0 $3,450
If Frederick's preferential tax rate on adjusted capital gain is 15%, his tax attributable to the above sales is $2,850
as per the given question
Frederick is a single individual sold some of his assets this year.
assets
Gamma incorporated tax basis is $5,000 and sale price is $15,000
Land incorporated tax basis is $75,000 and sale price is $100,000
Down corporation tax basis is $12,000 and sale price is $ 8,000
Extel incorporated tax basis is $17,000 and sale price is $5,000
now,
we have to calculate the tax on each asset
tax on each asset is (sale price - tax basis)*15%
so, tax on Gamma Incorporated is
(sale price - tax basis) * 15%
( 15,000 - 5,000) * 15 / 100
=> $1500
tax on Land incorporated is
(sale price - tax basis)*15%
( 100,000 - 75000)*15 / 100
=> $3,750
tax on Down corporation is
(sale price - tax basis) * 15%
( 8000 - 12000) *15 /100
=> $600
tax on Extel incorporated is
( sale price - tax basis ) * 15%
(17000 - 5000) * 15 / 100
=> $1800
Gamma incorporated tax $ 1500
Land incorporated tax $ 3750
Down corporation tax $ (-600)
Extel incorporated tax $ ( -1800)
the total tax of all assets are = 1500+3750+(-600)+(-1800)
=> $2850
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the ratio that reveals the amount of gross profit from each sales dollar is called the . multiple choice question. gross profit percentage working capital net sales turnover current ratio
The ratio that reveals the amount of gross profit from each sales dollar is called the gross profit margin.
Gross margin is the distinction between sales and price of products sold, divided by using sales. The gross margin is expressed as a percentage. normally, it is calculated because the promoting rate of an item, much less the price of products sold, then divided via the identical promoting rate.
Do not forget the following quarterly profits assertion wherein a corporation has $ hundred,000 in sales and $ seventy-five,000 in cost of products bought. Importantly, under costs, your calculation might now not encompass any promoting, standard, and administrative (SG&A) prices.
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