After being influenced by frequent advertisements, Jeremy buys a new cell phone. However, he discovers that the new cell phone does not offer the features he expected. This scenario illustrates that actual purchase price of the purchase is less than Jeremy's expectations.
The cost incurred by the company to purchase the items is referred to as the actual purchase price of the goods. To calculate gross profit, the purchase price is also added to the cost of the products sold. After the sales, the closing inventory is valued at the lower of the purchase price or its realisable replacement value.
The following elements will also need to be considered when determining the actual purchase price:
• When a buyer receives products that are broken or defective, the seller will issue a purchase allowance, which is a price reduction.
• The quantity of goods that were returned to the vendor under a purchase return is indicated.
• Purchase discounts are price reductions made in order to promote more product sales or early repayments.
• Freight costs are the costs associated with transporting the items from the seller's location to the buyer's location.
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True or False: In a basket purchase, the cost of the individual assets acquired is determined on the basis of their relative sales value.
In a basket purchase, the cost of the individual assets acquired is determined on the basis of their relative sales value. The given statement is true.
A broad idea, sales value. Any action you take during the sales process that simplifies or resolves a prospect's issue increases the value of the sale. One way to increase sales value is to provide a free consultation on a problem. The quantity of goods sold by a company over a specific time frame, such as a year or fiscal quarter, is measured as sales volume. The amount of money a corporation produces during the time period under consideration is known as sales, or sales revenue. purely because it makes the sales team's negotiation process faster and more precise. In B2B markets, experts stand out by demonstrating value over price. You now have a better understanding of how interactive material may be used to optimise the sales enablement process.
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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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inventory records for capetown, incorporated revealed the following: date transaction number of units unit cost april 1 beginning inventory 460 $ 2.15 april 20 purchase 430 2.61 capetown sold 610 units of inventory during the month. ending inventory assuming lifo would be: (do not round your intermediate calculations. round your answer to the nearest dollar amount.)
LIFO means "Last-In, First-Out". It is a strategy utilized for cost stream presumption purposes in the expense of merchandise sold computation. The LIFO strategy expects that the latest items added to an organization's stock have been sold first.
For figuring out the consummation stock first we need to figure out the closure stock units which are displayed underneath:
= Starting stock units + buy units - deal units
= 460 units + 430 units - 610 units
= 280 units
Presently the closure stock is
= 280 units × $2.15
= $602
We just increased the closure stock units with the April 1 expense for each unit i.e 280 units at $2.15per unit we found the solution i.e $602.
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a firm can withdraw and use the interest of an interest bearing real estate common trust account, as long as the firm has the permission of all the parties. t/f
The answer is false. This is because under no circumstances can a firm use or claim the Interest of an IBRETA account.
Interest is distinct from a figure that the borrower may pay the lender or some third party. It's also distinct from the tip which is paid by a company to its shareholders( proprietors) from its profit or reserve, but not at a particular rate decided beforehand, rather on a pro-rata base as a share in the price gained by threat- taking entrepreneurs when the profit earned exceeds the total costs.
To abate interest, you paid on a debt, review each interest expenditure to determine how it qualifies and where to take the deduction.
An interest-bearing real estate trust account is needed for real estate brokers. Receives the deposit of all down payments, severe plutocrats, and other trust finances entered by the broker and related to the conveyance of real estate.
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lean is the management of an entire organization so that it excels in all quality dimensions that are important to customers.
From the question is called the definition of total quality management.
What is total quality management?The core definition of Total Quality Management (TQM) describes a management approach for long-term success through customer satisfaction. A TQM effort involves all members of an organization in improving the processes, products, services and culture in which they work. Total Quality Management (TQM) is a continuous process to identify and reduce or eliminate defects. It is used to streamline supply chain management, improve customer service, and ensure employee training.
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while you are waiting on the top management team to present your recommendations to the board of directors, you take a look at updating tri-state's current code of ethics. in summary, it states that customers and employees should be treated with respect, that all business should be carried out in accordance with all applicable laws, and that any violation of tri-state's ethical guidelines is cause for disciplinary action. what is the best criticism of this code of ethics? select an option from the choices below and click submit.
The best critique of the code of ethics you have selected is that it only addresses legal compliance and employee support; it makes no mention of additional moral commitments. The wisest decision was this. Public accountability should be covered by an ethical code.
You choose to identify Tri States' fundamental beliefs and establish goals based on those values in order to evaluate Tri States' ethical obligations. This was the best option since a code of ethics needs to be founded on fundamental principles.
launch an organic product range. This may improve the health of Tri-goods State and have a significant environmental effect. What a worker anticipates from their employer is outlined in a code of ethics.
A code of ethics needs to be comprehensive enough to address every circumstance. A code of ethics offers principles to assist staff in achieving company goals.
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monopolistically competitive firms, like monopoly firms, maximize their profits by charging a price that exceeds marginal cost. group of answer choices: t/f
"Monopolistically competitive firms, like monopoly firms, maximize their profits by charging a price that exceeds marginal cost." This statement is True.
normally, the monopolistically aggressive market have the attributes of having many companies, differentiated merchandise and free entry/go out.
A monopolistic competition occurs while competitive firms produces or manufactures services or products which are similar and substitutes.
The characteristics of the monopolistically competitive marketplace includes:
There are presence of many dealers within the marketplace
There is easy entrance and go out of purchasers in the market
There are differentiated merchandise within the market
In conclusion, the monopolistically competitive marketplace is characterized through having many companies, differentiated merchandise and loose access/go out.
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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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Athens Company's salaried employees earn two weeks of vacation per year. The company estimated and must expense $10,200 of accrued vacation benefits for the year. Which of the following is the necessary year-end adjusting entry to record accrued vacation benefits?Multiple Choice O Debit Vocation Benefits Payable $10.200; credit Vacation Benefits Expense $10,200. O Debit Vacation Benefits Expense $20,760; credit Vacation Benefits Payable $20,760. O Debit Vacation Benefits Expense $20,100; credit Vacation Benefits Payable $20,100. O Debit Vacation Benefits Payable $20,100; credit Vacation Benefits Expense $20,100. O Debit Vacation Benefits Expense $10,200; credit Vacation Benefits Payable $10,200.
e. Debit Vacation Benefits Expense $10,200 credit Vacation Benefits Payable $10,200 is the necessary year-end adjusting entry to record accrued vacation benefits.
A typical fringe perk provided to employees during a time when they are not required to work The company should identify this cost/expense and responsibility when the employee is earning it, for example, if an employee earns one week of paid vacation to be taken after working a full year. Debit Vacation Pay Expense and credit Vacation Pay Payable is one possible journal entry. The employer would deduct Vacation Pay Payable and credit Cash later, when the employee had used the vacation time.
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Correct question:
Athens Company's salaried employees earn two weeks of vacation per year. The company estimated and must expense $10,200 of accrued vacation benefits for the year. Which of the following is the necessary year-end adjusting entry to record accrued vacation benefits?
Multiple Choice
a. Debit Vocation Benefits Payable $10.200; credit Vacation Benefits Expense $10,200.
b. Debit Vacation Benefits Expense $20,760; credit Vacation Benefits Payable $20,760.
c. Debit Vacation Benefits Expense $20,100; credit Vacation Benefits Payable $20,100.
d. Debit Vacation Benefits Payable $20,100; credit Vacation Benefits Expense $20,100.
e. Debit Vacation Benefits Expense $10,200; credit Vacation Benefits Payable $10,200.
an increase in government spending financed by increased borrowing will most likely change the real interest rate and the gross private domestic investment in which of the following ways?
An increase in government spending financed by increased borrowing will most likely lead to an increase in the real interest rate as the government is competing with private borrowers for funds.
This is because, as the government borrows more money, it will lead to an increase in the demand for loanable funds. As the demand for loanable funds increases, so does the real interest rate as lenders will demand a higher return for their loaned funds.
The increase in the real interest rate will likely lead to a decrease in gross private domestic investment. This is because, as the real interest rate increases, the cost of borrowing will increase. This will make borrowing less attractive and lead to a decrease in investment. As the cost of borrowing rises, companies may be less likely to invest in new projects and instead opt to hold onto their available cash. This decrease in investment could reduce economic growth and reduce overall economic activity.
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Concord Corporation has income from continuing operations of $281,300 for the year ended December 31, 2022. It also has the following items (before considering income taxes). 1. 2. An unrealized loss of $77,600 on available-for-sale securities. Again of $29,100 on the discontinuance of a division (comprised of a $9,700 loss from operations and a $38,800 gain on disposal). Assume all items are subject to income taxes at a 20% tax rate. Prepare a statement of comprehensive income, beginning with income from continuing operations. CONCORD CORPORATION Partial Statement of Comprehensive Income For the Year Ended December 31, 2022 Income from Continuing Operations $ 281300 Discontinued Operations > Gain from Disposal < $ 31040 Loss from Operations < 7760 i 23280 Net Income /(Loss) < 304580 Other Comprehensive Income < Unrealized Holding Loss of Available-for-Sale Securities 14744 Comprehensive Income 289836
The statement of comprehensive income is almost correct, but there are a few errors that need to be corrected.
The gain on the disposal of the division should be calculated as $38,800 - $9,700 = $29,100.
The loss from operations for the discontinued division should be included in the calculation for net income, so the net income calculation should be: $281,300 + $29,100 - $77,600 = $232,800
The unrealized loss on available-for-sale securities should be included in other comprehensive income, which is a separate component of comprehensive income. Therefore, the other comprehensive income calculation should be: $77,600 x 20% = $15,520
The comprehensive income calculation should be: $232,800 + $15,520 = $248,320
Here is the corrected statement of comprehensive income:
CONCORD CORPORATION
Partial Statement of Comprehensive Income
For the Year Ended December 31, 2022
Income from Continuing Operations $281,300
Discontinued Operations
Gain from Disposal $29,100
Loss from Operations $(9,700)
Net Income $232,800
Other Comprehensive Income
Unrealized Holding Loss of Available-for-Sale Securities $(15,520)
Comprehensive Income $248,320
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use the following information and the indirect method to calculate the net cash provided or used by operating activities:
The calculated amount of net cash used or provided for operating purposes is $20,900.
Operating activities are the essential or core business operations a firm engages in for the purpose of producing and selling its products. A product or service is manufactured, distributed, marketed, and sold. These are the company's primary commercial activities. Investing and financing are a company's other two activities.
Net cash available or utilized for operating purposes is $20,900. (C).
Following is a calculation of Operating Activities:
Net cash provided by operating activities = Net income + Depreciation expense - Gain on sale of land - Increase in merchandise inventory + Increase in accounts payable
Net cash provided by operating activities = $12,800 + $11,600 - $7,900 - $2,100 + $6,500
Net cash provided by operating activities = $20,900
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COMPLETE QUESTION:
Use the following information and the indirect method to calculate the net cash provided or used by operating activities:
Net income $12,800
Depreciation expense $11,600
Payment on mortgage payable $14,400
Gain on sale of land $7,900
Increase in merchandise inventory $2,100
Increase in accounts payable $6,500
Proceeds from the sale of land $8,500
A. $35,300
B. $12,400.
C. $20,900.
D. $7,900.
E. $40,900
the formula for target units is: multiple choice (total fixed costs target profit)/contribution margin ratio (total variable costs total fixed costs)/contribution margin ratio (total fixed costs target profit)/unit contribution margin (total variable costs total fixed costs)/unit contribution margin
The difference between a company's sales and variable costs, represented as a percentage, is the contribution margin ratio. The total income that can be used to cover fixed costs and turn
a profit is represented by an entity's total margin. The contribution margin ratio, when applied to a single unit sale, expresses the percentage of profit made on that particular sale. The contribution margin should be fairly substantial because it must be enough to pay for both fixed costs and overhead. The measure is helpful in deciding whether to permit a lower price in unique pricing circumstances. To continue selling a product at that price point would be foolish if the contribution margin ratio is abnormally low or negative.
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Expected cash collection pattern is 50% in the month of sale, 30% in the following and 15% in the second following month. Five percent of the credit sales December collections will be: month, are uncollectible Sales Budget Month October November December January Credit Sales $80,000 $100,000 $120,000 $70,000 a. $70,000 b. $102,000 c. $108,000 d. $100,000 Expected cash collection pattern is 50% in the month of sale, 30% in the following month. and 15% in the second following month. Five percent of the credit sales are uncollectible. November collections were $92,000. September sales were: Sales Budget Month October November December January Credit Sales $80,000 $100,000 $120,000 $70,000 a. $90,000 b. $120,000 c. $100,000 d. $100,000
Option A, 3.75, Mpv =actual quantity (standard price - real price), which is 1275=5100 (x - 3.50), 3.75. A planning technique that enables businesses to manage resources and earnings based on anticipated sales is the sales budget.
A sales budget is a financial strategy that projects the entire income of a business over a given time frame. To forecast the performance of the firm, it relies on two factors: the volume of items sold and the price at which they are sold. Sales forecasting, the technique of predicting future sales income, is not the same as a sales budget. However, a sales estimate might be guided by a strong sales budget. A sales budget differs from a sales expenditure budget, which is more concerned with business costs over a certain time frame.
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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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Companies that attempt to achieve zero defects in the manufacturing process treat spoilage as:? A) scrap B) reworked units C) abnormal spoilage D) normal spoilage
The correct answer is C) abnormal spoilage Companies that attempt to achieve zero defects in the manufacturing process treat spoilage.
Zero Defect Manufacturing is the pursuit of the greatest quality throughout the production process while avoiding errors and flaws. To do this, it looks for these flaws and takes the appropriate action on the afflicted items, either by throwing them away or fixing them. Japanese businesses Toyota and Honda, who are renowned for their meticulous attention to detail and high standards of quality, are additional zero defect instances. Because they make goods that either meet or surpass the expectations of their clients, these businesses have elevated themselves to the top of the global manufacturing industry. Normal spoilage is recorded as an expense when it is incurred in accounting, but abnormal spoilage is recorded as part of the standard cost of goods.
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multiple equilibria exist when: a. there is more than one equilibrium, b. there are multiple products but one market with one equilibrium for these products, c. there are many different product markets, each with its own equilibrium, d. a market splits in two, so that there are two markets, each with it its own equilibrium
Multiple equilibria exist when: a. there is more than one equilibrium,
An equilibrium is a state in which supply and demand are balanced, and the market price of a commodity is stable. When multiple equilibria exist, it means that there is more than one set of conditions that can lead to a balanced market. But it can create uncertainty and complexity in a market, as it becomes more difficult to predict which equilibrium will be reached.
Multiple equilibria can arise in different circumstances. For example, they can occur when in a market there are multiple items being traded and each item has its own supply and demand curve. They can also occur when there are external factors, such as government policies or technological changes, that affect the market and create multiple possible equilibrium points.
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A bank loans Kellie's Print Shop $350,000 to remodel a building near campus to use as a new store. On their respective balance sheets, this loan is
a. a liability for the bank and an asset for Kellie's Print Shop. The loan increases the money supply. b. an asset for the bank and a liability for Kellie's Print Shop. The loan does not increase the money supply. c. an asset for the bank and a liability for Kellie's Print Shop. The loan increases the money supply. d. a liability for the bank and an asset for Kellie's Print Shop. The loan does not increase the money supply.
On their respective balance sheets, the loan granted by the bank to the Kellie's Print Shop is an asset for the bank and a liability for the Kellie's Print Shop, and it does not increase the supply of money. Therefore, the option B holds true.
A balance sheet can be referred to or considered as a financial statement that shows the current or present financial positions of the company as on any given date on which the balance sheet has been made or updated. Each balance sheet contains assets and liabilities as the two main heads, and the final balances of these heads are always equal to each other.
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a perfectly competitive firm currently produces 1,000 units of output and hires its resources in a perfectly competitive factor market. it uses both labor and capital as inputs. the price of labor is $40; the price of capital is $100. the marginal product of labor is 8 units, and the marginal product of capital is 10 units. which of the following must be true? responses IThe firm is currently maximizing its profit.The firm can produce more than 1,000 units without increasing the total cost if it uses more labor and lesscapital.The firm can produce more than 1,000 units without increasing the total cost if it uses more capital and lesslabor.The firm can reduce the cost of producing 1,000 units by using less capital and employing the same amountof labor.The firm can reduce the cost of producing 1,000 units by employing less labor and using the same amountof capital.
All of the following statements must be true based on the information provided.
The firm is currently maximizing its profit. This is because the firm is producing at the level where marginal cost (the cost of producing one additional unit) is equal to marginal revenue (the revenue from selling one additional unit). This is the condition for profit maximization in a perfectly competitive market.
The firm can produce more than 1,000 units without increasing the total cost if it uses more labor and less capital. This is because the marginal product of labor (the additional output that results from employing one additional unit of labor) is higher than the marginal product of capital (the additional output that results from employing one additional unit of capital). Therefore, the firm can increase its output by increasing its use of labor and decreasing its use of capital, without increasing its total cost.
The firm can produce more than 1,000 units without increasing the total cost if it uses more capital and less labor. This is because the marginal product of capital is higher than the marginal product of labor. Therefore, the firm can increase its output by increasing its use of capital and decreasing its use of labor, without increasing its total cost.
The firm can reduce the cost of producing 1,000 units by using less capital and employing the same amount of labor. This is because the price of capital is higher than the price of labor. Therefore, the firm can reduce its total cost by decreasing its use of capital and maintaining the same level of labor, as long as it does not decrease output below 1,000 units.
The firm can reduce the cost of producing 1,000 units by employing less labor and using the same amount of capital. This is because the price of labor is higher than the price of capital. Therefore, the firm can reduce its total cost by decreasing its use of labor and maintaining the same level of capital, as long as it does not decrease output below 1,000 units.
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before making a purchase, consumers often compare similar items based on their , such as product characteristics and performance.
Problem recognition, inquiry, evaluation, and purchase choice are the components of the consumer decision process. Behavior after a purchase is a reflection of how satisfied or unsatisfied you were with your purchase.
What are an example and an evaluation?When you evaluate someone or something else, you take them into account in order to form an opinion on them, such as whether or not they are good or terrible. First, they will dispatch professional nurses to assess the demands of each particular circumstance. Verbal noun It's challenging to assess the state of the market.
What does evaluation in education mean?What does "assessment in education" mean? Evaluation is grade-centered and may take into account factors outside of course content and proficiency level in the classroom. An assessment might be performed as a last check to determine the caliber.
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When people use ramen as money then ramen become group of answer choices fiat money, but do not function as a unit of account. fiat money and function as a unit of account. commodity money and function as a unit of account. commodity money, but do not function as a unit of account.
When people use ramen as money then ramen becomes commodity money, but do not function as a unit of account. The correct answer is D.
Commodity money is defined as object that has value and are useful in itself that are also being used as a medium of exchange. A commodity money may serve as a medium of exchange but it is rather difficult to use it as a unit of account. An example of a commodity money is that of a cigarette in prison, where cigarettes are being used as a medium of exchange to get another goods or services in prison aside from its intended use for smoking. Another example of a commodity money is gold coins which in itself is valuable but also may be used as a medium of exchange in order to obtain other kinds of goods and services
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Your question seems incomplete, but I assume your question was:
"When people use ramen as money then ramen becomes
(group of answer choices)
A. fiat money, but do not function as a unit of account.
B. fiat money and function as a unit of account.
C. commodity money and function as a unit of account.
D. commodity money, but do not function as a unit of account."
on july 1, 20y1, livingston corporation, a wholesaler of manufacturing equipment, issued $50,000,000 of 20-year, 11% bonds at a market (effective) interest rate of 14%, receiving cash of $40,003,000. interest on the bonds is payable semiannually on december 31 and june 30. the fiscal year of the company is the calendar year.
The interest on the bonds is payable semiannually on December 31 and June 30. So, the fiscal year of the company is the calendar year.
Given,
Cash = $40,003,000
Dr Discount on bonds payable = $3,690,764
Cr Bonds payable = $50,000,000
The being issue of the bonds is at discount.
The cash proceeds which were received from the bond issuance of $40,003,000 is lower than the face value of the bond of $50,000,00. Thus, it is safe to say that the bonds were issued at discount of $9,997,000 ($50,000,000 - $40,003,000).
However, the correct entries would be to debit cash account with $40,003,000 debit discount on bonds payable with $9,997,000 and credit bonds payable with $50,000,000.
Hence, the fiscal year of the company is the calendar year.
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Luker Corporation uses a process costing system. The company had $166,500 of beginning Finished Goods Inventory on October 1. It transferred in $843,000 of units completed during the period. The ending Finished Goods Inventory balance on October 31 was $164,200. The entry to account for the cost of goods sold in October is: Multiple Choice Debit Cost of Goods Sold $843,000; credit Finished Goods Inventory $843,000. Debit Cost of Goods Sold $845,300; credit Work in Process Inventory $845,300. Debit Finished Goods Inventory $843,000; credit Work in Process Inventory $843,000.
If Luker Corporation uses a process costing system, the $843,00 is debited from the inventory of finished goods inventory of work in progress. Finished goods inventory for the company started at $166,500 on October 1.
A business is a legitimate entity that exists without the involvement of its owners. Businesses are subject to many of the same legal rights and Corporation duties that people are. They have the right to enter into contracts, make loans and take loans, bring legal actions, appoint people, own property, and pay taxes.
Since corporations make up the majority of large firms, some of them use their own identities as well as a number of trade names, such renowned parent company Alphabet Inc.
The most important aspect of a corporation is always restricted liability, even though the precise legal definition varies from one jurisdiction to another. Because of this, stockholders are not personally liable for the company's obligations but may still benefit from dividends and stock appreciation.
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a nongovernmental not-for-profit organization may report on which of the following basis and remain in compliance with generally accepted accounting principles (gaap)?
A nongovernmental not-for-profit organization may report on an accrual basis and remain in compliance with generally accepted accounting principles (GAAP).
What do you mean by the non profit organization?A nonprofit organization (NPO), also known as a non-profit group, not-for-profit corporation, or nonprofit institution, is a legal entity set up and run for the benefit of the general public or society.
A non-profit organization is a group that was established with the intention of making a profit, and in which no part of the organization's revenue is given to its directors, officials, or members.
The following assumptions are used in financial analysis: economic entity, monetary unity, time period, cost, full disclosure, going concern, matching, revenue recognition, materiality, and conservatism.
Therefore, a nongovernmental not-for-profit organization may report on an accrual basis and remain in compliance with generally accepted accounting principles (GAAP).
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What is the major difference between a nationwide bank and a community bank?
The community bank offers more services.
The nationwide bank services only local customers.
The nationwide bank has fewer branches.
The community bank services only local customers.
Answer:
the community banks services only local customers
Explanation
just took the test no cap answer made the most sense and got it correct
The community bank services only local customers is the major difference between a nationwide bank and a community bank. Hence, option D is correct.
What is community bank?The publicly traded lender offers home and business loans, checking and savings accounts, and a "Community Cash" service that lets users send and receive money without having bank accounts.
Local Awareness Community banks concentrate their lending on the areas where their depositors live and work, encouraging the development of nearby businesses and communities. This is in contrast to larger banks, which may accept deposits in one state while making loans in another.
Community banks are often more flexible and understanding when it comes to loans and accounts than national banks, which have rigorous guidelines and restrictions. They usually set lower prices for their goods and services in compared to their bigger rivals.
Thus, option D is correct.
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TRUE/FALSE. Under certain conditions, a project may have more than one IRR. One such condition is when, in addition to the initial investment at time = 0, a negative cash flow (or cost) occurs at the end of the project's life.
Under certain conditions, a project may have more than one IRR. One such condition is when, in addition to the initial investment at time is 0, a negative cash flow occurs at the end of the project's life. Thus, the statement is True.
What is IRR?In financial analysis, the internal rate of return (IRR) is a statistic used to calculate the profitability of possible investments. IRR is a discount rate that, in a discounted cash flow analysis, reduces all cash flows' net present values (NPV) to zero. The same formula is used for NPV calculations and IRR calculations.
When a project has abnormal cash flow, there are several IRRs (non-conventional cash flow pattern). Non-conventional cash flows, also known as non-normal cash flows, are defined as cash flows with discontinuous net cash inflows and net cash outflows. For example, net cash outflows may occur at the beginning of the project, followed by net cash inflows, followed by further net cash outflows.
Therefore, As cash flows of a project change sign more than once, there will be multiple IRRs.
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major corporation bought equipment on january 1, 2021. the equipment cost $360,000 and had an expected salvage value of $60,000. the life of the equipment was estimated to be six years. assuming straight-line deprecation, the book value of the equipment at the beginning of the third year would be . a. $70,000. b. $72,000. c. $50,000. d. None of these answer choices are correct.
The life of the equipment was estimated to be six years. assuming straight-line deprecation, the book value of the equipment at the beginning of the third year would be $50,000.
Straight line
(Cost - salvage value)/estimated useful life
= (360,000-60000)/6
=50000 ans.
The double declining stability (DDB) depreciation method is an method to accounting that includes depreciating sure property at two times the fee mentioned beneathneath straight-line depreciation. This consequences in depreciation being the best withinside the first yr of possession and declining over time.
The gadget ignores the salvage price whilst the declining stability is calculated, however the asset will now no longer be depreciated under the asset's salvage price. The depreciation quantity is calculated with the aid of using multiplying the straight-line quantity with the aid of using the declining stability fee.
To calculate depreciation the use of the straight-line method, subtract the asset's salvage price (what you assume it to be really well worth on the stop of its beneficial life) from its cost. The end result is the depreciable foundation or the quantity that may be depreciated. Divide this quantity with the aid of using the range of years withinside the asset's beneficial lifespan.
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which of the following statements most accurately summarizes recent trends in global income inequality, as presented in unit 19.1?
As per the global income inequality, the accurate statement is "Inequality between countries is declining, while within-country inequality is rising, with the net effect being falling global inequality."
What cause the Global income inequality?
In general term, the global income inequality is cause either returns to private investments become greater than the overall growth of the economy, or the overall population experiences a declining rate of growth.
Here we need to find the most accurate statement that summarizes recent trends in global income inequality.
Based on the concept of global income inequality, we know that whatever the gains and losses to Western economies arising from globalization, it has helped rapid income growth in countries like India and China. Therefore, these are also very large countries (as measured by population), the overall effect on world inequality has been negative.
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suppose monetary neutrality holds and velocity is constant. a 4 percent increase in the money supply group of answer choices increases the price level by less than 4 percent. increases real gdp by 4 percent. increases the price level by more than 4 percent. increases the price level by 4 percent. next
Suppose monetary neutrality holds and velocity is constant, then a 4 percent increase in the monetary supply will increase the price level by 4 percent. Therefore, the option D holds true.
The supply of money within an economy is determined by the forces that include the demand of the consumer. Productivity and output are also important in determining the monetary supply. Moreover, the money supply is equally proportionate to a change in the prevailing levels of prices in the economy. Thus, changes in both the factors will always be the same.
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Measures of Performance and Financial Leverage Following are selected data from year-end financial statements of Lima Corporation for its first two years of operations. Year 1 Year 2 Total assets $3,895,000 $3,260,000 Interest expense 47,500 42,000 Long-term liabilities 625,000 680,000 Net income 532,055 486,500 Sales 4,829,625 3,940,000 Stockholders' equity 2,766,686 2,553,864 Round percentages to one decimal place. (Example: 0.11567 = 11.6%) a. Compute the following performance measurement ratios for the second year of operations. (Ignore income taxes.) 1. Asset turnover 2. Return on sales , Return on assets, Return on equity
Measures of Performance and Financial Leverage Following are selected data from year-end financial statements of Lima Corporation for its first two years of operations.
a. Asset turnover:
Assets turnover ratio[tex]$=\frac{\text { Net sales }}{\text { Average total assets }}$[/tex]
Assets turnover ratio[tex]$=\frac{\$ 5,218,750}{(\$ 4,420,000+\$ 393,000) / 2}$[/tex]
Assets turnover ratio [tex]$=2.17$ times[/tex]
[tex]b. Return on sales:Return on sales $=\frac{\text { Net income }}{\text { Net sales }}$Return on sales $=\frac{\$ 452,875}{\$ 5,218,750}$Return on sales $=0.0868$ or $8.68 \%$[/tex]
c. Return on assets:
[tex]Return on assets $=\frac{\text { Net income }}{\text { Average total assets }}$Return on assets $=\frac{\$ 452,875}{(\$ 4,420,000+\$ 393,000) / 2}$Return on assets $=0.1882$ or $18.82 \%$[/tex]
d. Return on equity:
Return on equity[tex]$=\frac{\text { Net income }}{\text { Average stockholder's equity }}$[/tex]
Return on equity [tex]$=\frac{\$ 452,875}{(\$ 2,428,750+\$ 2,100,000) / 2}$Return on equity $=0.2$ or $20 \%$[/tex]
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