Canada's government owns the communications, transportation, and utilities industries. most other activities are carried on by private enterprises. Canada is considered a mixed economy.
A mixed economic system is a framework that joins parts of both private enterprise and communism. A blended monetary framework safeguards private property and permits a degree of financial opportunity in the utilization of capital, yet in addition considers legislatures to meddle in financial exercises to accomplish social points.
As per neoclassical hypothesis, blended economies are less productive than unadulterated unrestricted economies, however advocates of government mediations contend that the base circumstances expected for proficiency in unrestricted economies, like equivalent data and objective market members, can't be accomplished in down to earth application.
Most current economies include a blend of at least two monetary frameworks, with economies falling eventually along a continuum. The public area works close by the confidential area, yet they might vie for similar restricted assets. Blended monetary frameworks don't impede the confidential area from benefit chasing, however direct business and may nationalize enterprises that give a public decent.
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Bernie has decided to purchase a new car with a list price of $18,575. Sales tax in Bernie's state is 7.40%, and he will
be responsible for a $795 vehicle registration fee and a $110 documentation fee. Bernie plans to trade in his existing
car, a 1999 Buick Riviera in good condition, and finance the rest of the cost for five years at an interest rate of 12.77%,
compounded monthly. Assuming that the dealer gives Bernie the listed trade-in price for his car, what will his monthly
payment be? Round all dollar values to the nearest cent.
Buick Cars in Good Condition
Model/Year
1998
1999
2000
2001
2002
Century
$929
$1,086
$1,150
$1,488
$1.595
LeSabre
$2,075
$2,282
$2,690
$2.935
$3,374
Regal
$1,676
$1,794
$2,030
$2.214
$2,566
Riviera
$1,291
$1.455
$1,520
$1.814
$1,959
a. $472.05
b. $439.12
C.
$438.20
d.
$518.23
Assuming the car dealer gives Bernie the listed trade-in price for his car, his monthly payment will be C. $438.20.
What is the monthly payment?The monthly payment represents the periodic amount that a borrower pays to offset the compounded interest and the principal.
The monthly payment can be determined using an online finance calculator that inputs the present value of the loan and other parameters.
The list price of the new car = $18,575
The value of Buick Riviera = ($1,455)
Trade value of new car = $17,120
Sales tax 1,267 ($17,120 x 7.4%)
Vehicle registration fee = 795
Documentation fee = 110
Car loan $19,292
Interest rate = 12.77%
Financing period = 5 years
N (# of periods) = 60 (5 years x 12)
I/Y (Interest per year) = 12.77%
PV (Present Value) = $19,292
FV (Future Value) = $0
Results:
Monthly Payments (PMT) = $438.20
Sum of all periodic payments = $26,292
Total Interest = $7,000
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debt left over from the war of ____ was part of the reason for the founding of the second bank of the united states.
The debt left over from the war of 1812 was part of the reason for the founding of the second bank of the united states.
Congress rejected additional attempts to establish the bank after the two countries reached a peace treaty in 1815. But as a result of a wider economic crisis, the federal government's financial situation deteriorated in the months that followed. Madison and his advisors came to the conclusion that it was necessary to move the nation toward a more uniform, stable paper currency since a large number of state-chartered banks had stopped cashing their notes.
Dallas once more urged the creation of a national bank in his yearly report. The statute establishing the second Bank of the United States was finally signed by Madison in April 1816 after much discussion and a few subsequent attempts.
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this is the amount that can be given as a gift each year without the transaction being subject to the federal gift tax law.
Answer:
The annual gift tax exclusion limit for 2020 is $15,000 per person.
lue Devil Savings and Loan Association has a large number of 10-year fixed-rate mortgages and obtains most of its funds from short-term deposits. It uses the yield curve to assess the market's anticipation of future interest rates. It believes that expectations of future interest rates are the major force in affecting the yield curve. Assume that an upward-sloping yield curve with a steep slope exists. Based on this information, should Blue Devil consider using financial futures as a hedging technique? Explain
Blue Devil should sell financial futures to hedge the potential effects of rising interest rates on its spread
To protect against the potential negative effects of rising interest rates on its spread, Blue Devil could sell financial futures.
Although the phrase "hedging" can make it sound like your gardening-obsessed neighbor does it, it actually refers to a valuable investing strategy that all investors should be aware of. Hedging in the stock market is a technique to preserve your portfolio, which is frequently just as vital as financial portfolio growth.
Hedging is frequently described in broader terms than are its explanations. It is not, nonetheless, an obscure term. Even if you are just starting out as an investor, understanding what hedging is and how it functions can be helpful.
By establishing a contrary position in a comparable asset, investors can use the risk management technique of hedging to offset losses on their investments.
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in the current year, company a made the following cash purchases: the exclusive right to manufacture and sell equipment from company b for $210,000. company b created the unique design for the equipment. company a also paid an additional $15,000 in legal and filing fees to attorneys to complete the transaction. an initial fee of $295,000 for a three-year agreement with company c to use its name for a new facility in the local area. company c has locations throughout the country. company a is required to pay an additional fee of $6,000 for each month it operates under the company c name, with payments beginning in march of the current year. company a also purchased $410,000 of equipment to be placed in the new facility. the exclusive right to sell a book, for $29,000.
There is no journal entry for the amount to be paid to Silver Gym on a monthly basis when the sales begin because the money has not been paid.
How would you define sales?A sale is a deal in which the seller exchanges money for the sale of tangible or intangible products, assets, or services with the buyer. Between two or more parties, a sale is made. A sale can be defined more broadly as a contract between two or more parties, such as the buyer and the seller.
What does "sales" mean in a commercial context?Sales, as used in everyday business operations, relate to any transactions where money or value is transferred for the right to own a good or access to a service. Sales in an accounting context refers to the money a business makes through selling goods or services (net sales).
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if scott earns a 12 percent after-tax rate of return, $15,000 today would be worth how much to scott in two years? use future value of $1. note: round discount factor(s) to five decimal places.
In two years, $15,000 would be worth to Scott assuming he gets an after-assessment form of 12%. Therefore, The answer is (d)
= $15,000 × (1.12)2 = $18,816 or $15,000 × 1.25440 = $18,816.
The recipe is composed as follows: FV=PV I + 1)n The quantity of interest-accumulating periods that will require some investment you are computing for is shown by the superscript n in this equation. the more prominent pace of return after charges. the benefits of pay deferral are expanded.
You require the accompanying recipe to decide the ongoing worth of any income: Present worth is equivalent to Expected Income times (1 or more Interest Sum). the measure of time. consequently for the underlying year.
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This question is incomplete ,here I am attaching the complete question:
If Scott earns a 12 percent after-tax rate of return, $15.000 today would be worth how much to Scott in two years? Use future value of $1.(Round discount factor(s) to flve declmal places.) 9 Multple Choice $15,000. $11,955 $18,520 $18,816, None of the cholces are correct.
A U.S. corporation has a yen-denominated loan it must repay in six months. A long position in yen futures could help offset the corporation's foreign exchange risk.
True/False
The correct answer is True. A U.S. company has a loan with a six-month repayment period in yen. The corporation's foreign exchange risk could be reduced by taking a long position in yen futures.
It might use some of its inflows in euros to cover its financing costs if it receives inflows in that currency.
The increase in value of one country's currency in comparison to another is known as currency appreciation. Currency increases are the result of governmental policy and a rise in investor demand. As opposed to banks, which must keep a balance between depositories and lending charges, the parent multinational firm might contemplate borrowing money from its subsidiaries because they do so at a lower cost.
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Industrialize
To develop large industries in a country or economic system.Emigration
leaving one's own country or region to settle in another.Interchange
To put each of two items in the other's place.Standardize
To make the same in shape, weight, size, and so fourth.
Industrialize-To develop large industries in a country or economic system. Emigration-leaving one's own country or region to settle in another. Interchange-To put each of two items in the other's place. Standardize-To make the same in shape, weight, size, and so fourth.
Industrialization is the process of shifting a country or region's economy away from a reliance on agriculture and toward manufacturing. Emigration is the relocation of people from one country to another for habitation. People move abroad for a variety of reasons, such as to improve their quality of life or chances of finding work. An interchange is defined as an exchange or a location where two things or persons come together to provide movement from one to the other. In order to standardize a specific industry, standards-based and comparable technology and processes must be developed, promoted, and perhaps mandated.
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Which of the following is the first step in the managerial decision making process?
A. Evaluation and feedback
B. Development of alternatives
C. Recognition of decision requirement
D. Diagnosis and analysis of causes
E. Selection of desired alternativesC. Recognition of decision requirement
The first stage in the managerial decision-making process is what follows. C)Recognition of decision requirement
What are the six steps involved in making decisions?Careful planning and empathy are two requirements for implementing the alternative. The sixth step in the procedure is to put a substitute into action. Selecting an alternative, which is the fifth phase in the decision-making process, is thus referred to as pricing the best alternative.
What is the process of decision-making?An individual goes through a decision-making process while deciding which alternative or course of action will best suit their needs. It is a series of actions made by managers in the organization ,To set specific activities in motion and determine the planned course for company objectives.
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Suppose the institution wishes to fully hedge the interest rate risk with a swap. A swap is available with whatever notional principle is needed that pays fixed at 4.95% and pays variable at LIBOR. LIBOR is currently 5.11%. By how much would profits change right now if the bank engages in the swap?Pay variable, receive fixed; (322-200) x (4.95% - 5.11%) = -$195,200
-$195,200 profits change right now if the bank engages in the swap.
Pay variable, receive fixed; (322-200) x (4.95% - 5.11%) = -$195,200
A financial institution is an economic institution that accepts deposits from the general public and creates a demand deposit at the same time as simultaneously making loans. Lending sports may be immediately executed by way of the bank or in a roundabout way thru capital markets.
Bank, an institution that deals in money and its substitutes and gives other money-associated services. In its function as an economic intermediary, a bank accepts deposits and makes loans.
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the keynesian cause-and-effect sequence predicts that a decrease in the money supply will cause interest rates to:
The keynesian cause-and-effect sequence predicts that a decrease in the money supply will cause interest rates to fall, boosting investment and shifting the AD curve rightward, leading to an increase in real GDP.
According to Keynesian cause-and-effect, an decrease in interest rates follows a drop in the money supply. The cost of creating money increases as the money supply decreases. While a result, investors are choosing to make smaller investments as the cost of capital is rising.
Keynesian economics holds that because prices are somewhat fixed, changes in any spending component—consumption, investment, or government expenditure—will change output. For instance, if government expenditure rises while all other spending components stay the same, output will rise as well.
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the teachers union has been negotiating with the school board on behalf of all the teachers for a 4% pay increase and two additional sick days each year. the teachers union is in the process of .
The teachers union has been negotiating with the school board on behalf of all the teachers for a 4% pay increase and two additional sick days each year. The teachers union is in the process of collective bargaining.
Collective bargaining refers back to the respectable manner thru which change unions negotiate with employers on behalf in their individuals in appreciate of employees' phrases and situations of employment. An instance of collective bargaining may be approximately a pay increase or an change in running hours. The term "collective bargaining" became first utilized in 1891 by means of Beatrice Webb, a founder of the arena of business participants of the own family in Britain. It refers to the form of collective negotiations and agreements that had existed for the purpose of the rise of change unions in some unspecified time in the future in the 18th century.
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suppose juanita modifies her portfolio to contain 50% diversified stocks and 50% risk-free government bonds; that is, she chooses combination c. the average annual return for this type of portfolio is 7.5%, but given the standard deviation of 10%, the returns will typically (about 95% of the time) vary from a gain of to a loss of .
this type of portfolio is 7.5%, but given the standard deviation of 10%, the returns will typically (about 95% of the time) vary from a gain of to a loss of -6.5%.
The standard deviation is a statistic that expresses how much variance or dispersion there is in a group of numbers. [1] While a high standard deviation suggests that the values are dispersed over a wider range, a low standard deviation suggests that the values tend to be close to the mean (also known as the anticipated value) of the collection.
The lower case Greek letter (sigma), for the population standard deviation, or the Latin symbol s, for the sample standard deviation, are most frequently used in mathematical texts and equations to indicate standard deviation. Standard deviation may be written as SD.
A random variable, sample, statistical population, data set, or probability distribution's standard deviation is equal to the square root of its variance.
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the list of accounts shown here is taken from the lincoln lawn service work sheet. for each account that appears on the income statement, indicate the section in which it should appear. for any account that does not appear on the income statement, select neither. account income statement revenue expenses neither cash petty cash accounts receivable-delmar, inc. accounts receivable-rick helms supplies prepaid insurance accounts payable-smith supplies accounts payable-kelsay parts paul lincoln, capital paul lincoln, drawing
Revenue: This account would appear in the revenue section of the income statement, as this is the money that the business has earned through sales in a particular period of time.
Expenses: Petty Cash, Accounts Payable-Smith Supplies, Accounts Payable-Kelsay Parts, and Prepaid Insurance would all appear in the expenses section of the income statement, as these are the costs that the business has incurred from running its operations.
Neither revenue nor expense: Cash, Accounts Receivable-Delmar, Inc., Accounts Receivable-Rick Helms Supplies, Paul Lincoln, Capital, and Paul Lincoln, Drawing would not appear on the income statement, as these accounts represent assets, liabilities, or equity and not revenue or expenses.
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Which of the following questions should NOT be taken into consideration when listing all the alternatives and consequences to solve an ethical problem?
A. Is it legal?
B. Does it fit my personal values?
C. Who will be affected?
D. Does it benefit me personally?
D. Does it directly benefit me?
What are the four ethical methods?The four ways to deal with morals in business settings are:
Ethics based on utilityEthics deontological.Ethics of virtue.The Ethics of Communism.When making an ethical decision, how many different options should be listed?Try to think of as many possible solutions, at the very least three and typically five or more.
What are the three three questions of ethics?Three moral inquiries that we ought to pose of ourselves consistently
How would I like to be on the planet?Why do I want the world to be this way?When I'm put to the test, what tactics must I employ to uphold my values and principles?To learn more about Ethics of virtue here
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disclosure of information about significant concentrations of credit risk is required for: all financial instruments. financial instruments with off-balance-sheet credit risk only. financial instruments with off-balance-sheet market risk only. financial instruments with off-balance-sheet risk of accounting loss only.
The correct answer to the given question is option A) all financial instruments.
Financial instruments are either tradable assets or can alternatively be thought of as bundles of capital that can be traded. The majority of financial instrument types allow for the efficient flow and transfer of capital among investors around the world. These assets may consist of money, a contractual right to receive or deliver money or another sort of financial instrument, or documentation of ownership of a certain organization.
Cash instruments and derivative instruments are the two categories into which financial instruments can be categorized.
Payment Methods
The markets have a direct impact on and control over the values of cash instruments. The securities in question may be simple-to-transfer securities.
Cash instruments also include deposits and loans that have been agreed upon by lenders and borrowers.
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The daily demand for a component at a hardware store is normally distributed, with an average of 100 and a standard deviation of 10 units. The store manager is willing to accept a risk of stockout 3% of the time during the lead time, which is constant at 6 days. Answer the following questions. Write your final answer only (without intermediate steps) for the fill-in-the-blank questions. Question 10 (2 points) The service level that the store manager wants to maintain = A . Use 2-decimal accuracy for the final answer, e.g., 0.12, when necessary. Question 11 (2 points) The appropriate value of Z (i.e., the number of standard normal deviations) = A . Use 2-decimal accuracy for the final answer, e.g., 0.12, when necessary. Question 12 (2 points) A Safety stock = answer (if it is not an integer) to the nearest integer. units. Round the final Question 13 (2 points) Reorder point = A units. Round the final answer (if it is not an integer) to the nearest integer.
The service level that the store manager wants to maintain = 0.97. This is because 3% of the time during the lead time, the store would be willing to accept a stockout. This corresponds to a service level of 97%.
The appropriate value of Z (i.e., the number of standard normal deviations) = 1.65. This can be calculated using the formula Z = (Service Level - 0.5) / (1 - Service Level).
A Safety stock = 160 units. This can be calculated using the formula Safety Stock = Z * Standard Deviation * Square Root of Lead Time.
Reorder point = 360 units. This can be calculated using the formula Reorder Point = Average Demand * Lead Time + Safety Stock.
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Manufacturers, retailers, and service providers have created and maintain websites, blogs, and _________to enable customers to interact with them over the Internet.Multiple Choicea. software applicationsb. product reviewsc. hardware applicationsd. social media presencee. social bookmarks
Manufacturers, retailers, and service providers have created and maintain websites, blogs, and social media presence to enable customers to interact with them over the Internet.
What is social media presence?Social media presence can be described as the visibility a brand has on social media platforms and the connection it builds with its community.
It should be noted that this works in the sense that the stronger your presence, the more trust you can build with your audience and this cxan be done when developing a direct relationship beyond this marketing channel.
Therefore, option D is correct.
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ompany acquired 90 percent ownership of scrooge corporation in 20x7, atunderlying book value. on that date, the fair value of noncontrolling interest was equal to 10percent of the book value of scrooge corporation. pilfer purchased inventory from scrooge for$90,000 on august 20, 20x8, and resold 70 percent of the inventory to unaffiliated companies ondecember 1, 20x8, for $100,000. scrooge produced the inventory sold to pilfer for $67,000. thecompanies had no other transactions during 20x8.base
The amount of sales that will be reported in the 20X8 consolidated income statement is C) $100,000.
An income statement or profit and loss account is one amongst the money statements of an organization and shows the company's revenues and expenses throughout a specific amount. It indicates however the revenues are reworked into world wide web financial gain or lucre.
Non-controlling interest refers to the minority shareholders of the corporate. They own but five hundredth of the general share capital and so do not have management over the company's decision-making method. Non-controlling interests are measured at world wide web quality worth of entities and don't account for potential selection rights.
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Company acquired 90 percent ownership of scrooge corporation in 20x7, atunderlying book value. on that date, the fair value of noncontrolling interest was equal to 10percent of the book value of scrooge corporation. pilfer purchased inventory from scrooge for$90,000 on august 20, 20x8, and resold 70 percent of the inventory to unaffiliated companies ondecember 1, 20x8, for $100,000. scrooge produced the inventory sold to pilfer for $67,000. thecompanies had no other transactions during 20x8.base. Based on the information given above, what amount of sales will be reported in the 20X8 consolidated income statement?
A) $90,000
B) $120,000
C) $100,000
D) $67,000
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firms often set goals related to desired share of a market. these goals are a type of______objectives.
Firms often set goals related to the desired share of a market. these goals are a type of sales objectives.
Management uses sales objectives to supplement the vision and objectives they have established for the business and the sales department. The sales objectives specify the precise, quantifiable steps that each employee must follow to accomplish the overall target.
Sales objectives are overarching, long-term goals that you want your entire sales staff to reach in order to advance your business. To make sure your goals are on pace, you must monitor sales analytics, though. Utilizing metrics, you can create plans and tactics for your sales force to follow in order to meet their goals.
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TRUE/ FALSE. if our research objective is to summarize the data in the sample, we should use percentages if the variable has a metric scale.
The statement given is false, if our research objective is to summarize the data in the sample, we should use percentages if the variable has a metric scale.
Although tables are frequently used to display data summaries, a well-designed graph can also effectively convey findings.
Just to summarize the data, we can use graphs and diagrammatic representation. Percentages are used when you have to demonstrate increase or decrease or level of influence of certain variables in the data.
The research objective is fulfilled by using the diagrams and graphs. Therefore the given statement is false, that we should use percentages as a metric scale.
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assume that the united states government introduces an expansionary monetary policy, increasing the money supply in the market. in the accompanying graph, demonstrate the long run effect on aggregate demand and short run aggregate supply. then, answer the following question. aggregate price level real gdp lras sras ad in the classical model of the price level, what is the long run effect of an increase in the money supply on real gdp?
It doesn't affect GDP. Both the SRAS and AD lines go to the left.
What is GDP?
The market worth of all the final goods and services produced and sold (not resold) in a certain time period by countries is measured in dollars using the term "gross domestic product" (GDP). This measurement is frequently changed before it can be trusted as an indicator because of how complicated and subjective it is. To compare living standards between countries, using a basis of GDP per capita at purchasing power parity (PPP) may be more useful, whereas nominal GDP is more useful for comparing national economies on the global market. GDP (nominal) per capita does not, however, reflect differences in the cost of living and the inflation rates of the countries. The contribution of each industry or sector to the overall GDP can also be quantified.
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assume the government reduces its spending and raises income taxes in an effort to reduce the budget deficit. the most likely short-run result will be an increase in responses interest rates interest rates unemployment unemployment the money supply the money supply the price level the price level personal savings
If the government increases the income taxes then the interest rates will be increased that is option A is correct.
Government when increases the income taxes and reduces its spending it adopts a fiscal policy which will not be beneficial for the middle class people. With the increase in the income tax they will have to pay more for the same amount of items. The interest rates of the banks will also increase as they will have to maintain their own balance. This will lead to the decrease in the money supply and the personal savings of the people. These all are short term results. In the longer run unemployment will increase due to this and will affect the economy of the country very badly.
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under uniform state law, civil liability exists in all of the following circumstances except when: a customer margin securities are commingled with those of other margin customers b an unregistered agent sells exempt securities to customers in the state c a customer makes a purchase of securities based upon misleading statements made by an agent d an offer of unregistered non-exempt securities is made to a customer and a sale occurs
Option (a), The following situations all give rise to civil responsibility under Uniform State Law, with the exception of when customer margin securities are mixed with those of other margin customers.
What terms are defined by the Uniform Securities Act?In accordance with the Uniform Securities Act, the terms "broker-dealer," "investment adviser," & "investment adviser representative" are all defined. Additionally, a broker-"agent" dealer's is defined. A representative is likewise referred to as a "agent," but with the federal name rather than the state name (the agent of an investment adviser).
The Uniform Securities Act serves what purpose?The Uniform Securities Act was created as a model law and serves as the basis for state-level securities regulation. Because the Securities and Exchange Commission (SEC) needed assistance with enforcement and regulation, the Uniform Securities Act was developed. Among its objectives is state-level enforcement against securities fraud.
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roger and melissa's labor supply schedules are presented in the accompanying tables. hourly wage rate roger's labor supply (hours per week) $0 0 $10 15 $20 30 $30 40 $40 45 $50 35 hourly wage rate melissa's labor supply (hours per week) $0 0 $10 10 $20 20 $30 30 $40 35 $50 40 a. in the accompanying diagram, move the points to plot both roger's and melissa's labor supply curves.
From the provided labor supply schedules, Roger's and Melissa's labor supply curves were calculated.
The labor market's supply is the main focus of the labor supply curve. As the labor supply increases, the labor supply curve shifts to the right. It will move to the left if it declines.
According to the graph below, a rise in labor supply results in a fall in wages whereas a rise in labor demand results in an increase in wages. Simply put, labor is the work that people do.
Additionally, labor is an element in production. This is so that businesses can make their products, which requires labor.
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eriodic inventory by three methods; cost of goods sold the units of an item available for sale during the year were as follows: date line item description units and cost jan. 1 inventory 50 units at $110 mar. 10 purchase 60 units at $118 aug. 30 purchase 20 units at $126 dec. 12 purchase 70 units at $128 there are 80 units of the item in the physical inventory at december 31. the periodic inventory system is used. determine the ending inventory cost and the cost of goods sold by three methods. in your calculations round average unit cost to the nearest cent, and round all other calculations and your final answers to the nearest dollar. blank cost of ending inventory and cost of goods sold inventory method ending inventory cost of goods sold first-in, first-out (fifo) $first-in, first-out (fifo) $first-in, first-out (fifo) last-in, first-out (lifo) last-in, first-out (lifo) last-in, first-out (lifo) weighted average cost weighted average cost weighted average cost
A periodic system makes no attempt to keep track of inventory levels, therefore cost of items sold is unknown until financial statements are prepared.
Briefing:-The expense is calculated by subtracting ending inventory from ending inventory after adding beginning inventory to the period's buying costs.
What is the inventory periodic method?To ascertain the amount of inventory on hand and the cost of goods sold, a corporation using a periodic inventory system physically counts the inventory at the conclusion of each period. In accordance with their accounting requirements and product needs, many businesses choose for monthly, quarterly, or annual periods.
How do you determine the price of products that are for sale?The cost of manufacturing the present inventory is multiplied by its total worth to arrive at the cost of the commodities that are now on hand for purchase. For instance, if a company has ready-to-sell goods worth $5,000 and they cost $3,000 to make, its total cost of goods available for sale is $8,000.
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a company reports the following at year end: current assets of $25,000; total assets of $35,500; current liabilities of $10,400; total liabilities of $20,500. working capital equals: multiple choice question. 4,500 14,600 10,500 25,100
A company reports the following at year-end: current assets of $25,000; total assets of $35,500; current liabilities of $10,400; total liabilities of $20,500. Working capital equals 14,600.
A present-day asset is any asset that could reasonably be predicted to be offered, consumed, or exhausted via the normal operations of a commercial enterprise inside the current financial 12 months or running cycle or economic year.
Modern assets consist of coins, cash equivalents, money owed receivable, stock inventory, marketable securities, pre-paid liabilities, and different liquid property. The current property account is important as it demonstrates an organization's short-term liquidity and ability to pay its quick-term duties.
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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.
Peacock had used the straight-line method of depreciation to spread the cost of the building across its entire useful life of 20 years. This means that the carrying value of the building at the time of transfer was $200,000.
At the time of the transfer, Peacock Company had owned the land and building for 4 years. Peacock had originally purchased the land for $50,000 and the building for $220,000. Over the course of 4 years,
In exchange for the land and building, Peacock Company received 25,000 shares of $5 par value stock from Selvick Company, as well as $75,000 in cash. At the time of transfer, an appraisal revealed that the building had a fair value of $250,000.
When calculating the gain or loss on the transfer, the original cost of the land and building must be subtracted from the fair value of the building, plus the amount of cash received. In this case, Peacock would have a gain of $50,000 ($250,000 - $200,000 + $75,000).
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consider the market for pigs and assume there is a marginal external cost associated with raising pigs. without government regulation, at the market equilibrium price and quantity of pigs:
Both advantages and costs result from pollution for society. However, individuals who profit from pollution, such as the owners of power firms, decide how much pollution happens in a market economy without government involvement.
They lack motivation to consider the financial burden their pollution places on others. The marginal societal cost is the sum of the marginal external and marginal private costs. When there is a marginal external cost, producers economy consider the marginal private cost and produce more than the efficient quantity. By transferring a property right, a negative externality can occasionally be avoided. government externality is the circumstance in which a party not involved in the transaction suffers as a result of another party's market transaction.
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when an accountant is engaged to prepare financial statements, each of the following requirements applies, except:
When an accountant is engaged to prepare financial statements, each of the following requirements applies, except the accountant should verify the completeness of information provided by management for the financial statements.
An Accountant facilitates organizations make important economic decisions by way of accumulating, monitoring, and correcting the employer's price range. they are responsible for monetary audits, reconciling bank statements, and making sure monetary statistics are accurate throughout the yr.
An accountant is a person who works in the accounting field and conducts duties such as account analysis, audits, and monetary assertion evaluation. Accountants can work for simply an accountancy company or a huge corporation with just an inner finance branch, or they may begin their very own company.
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