In order to comply with federal banking regulations, you must complete and pass this training prior to offering any financial products to clients. TRUE FALSE.

Answers

Answer 1

This statement is true "In order to comply with federal banking regulations, you must complete and pass this training prior to offering any financial products to clients."

Associates must scrupulously abide by the Bank Secrecy Act/USA PATRIOT Act, which is intended to combat money laundering and terrorist financing while promoting any bank products. Check that the address on the customer's ID matches the address on any additional paperwork the client has submitted in order to comply.

The following two types of identification, one of which must be a photo ID or an unexpired government-issued photo ID are required of clients. Compare the address on the ID with additional supporting documents. Ask the client to present one of the thirteen documents listed in the tax software to prove their address if it's different.

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Related Questions

Assume there is an economy with a single bank, and the central bank sets the reserve requirement ratio at 5%. Assume also that the only bank had no transactions (i.e., no loans, reserves, or deposits) prior to an individual who deposits $2000 of currency with the bank.
a. As a result of this deposit, calculate the amount of required reserves, actual reserves, and excess reserves.
b. After the bank has issued the maximum amount of loans, what will be the total amount of loans, deposits, and money in the economy?
c. What is the size of the money multiplier for this economy?

Answers

Answer:

An Economy with a Single Bank

a. The amount of required reserves = $100

The amount of actual reserves = $100

The amount of excess reserves = $0.

b. The total amount of loans, deposits, and money in the economy

= $40,000

c. The size of the money multiplier for this economy

= 20

Explanation:

a) Data and Calculations:

Reserve requirement ratio = 5%

Customer's deposit = $2,000

Amount of required reserves

= Initial deposits multiplied by reserve ratio

= $100 ($2,000 * 5%)

Actual reserves = $100

Excess reserves = $0

Total amount of loans, deposits, and money in the economy

= Initial Deposits/Reserve Ratio

= $40,000 ($2,000/0.05)

The size of the money multiplier for this economy = Total money supply in the economy divided by the initial money deposits

= $40,000/$2,000

= 20

b) The Money Multiplier refers to how the initial deposit of $2,000 leads to a bigger final increase in the total money supply of $40,000.  It means that the money multiplier is 20 or that the initial deposit of $2,000 has multiplied by 20 to $40,000.

A discount term of 20/15/5 means: Group of answer choices based on the timing of payment, 1 of the 3 discount options can be applied based on the size of the order, 1 of the 3 options can be applied if all conditions are met, all 3 discounts can be applied to the list price all three discounts are possible but it is rare that all three are able to be applied

Answers

Answer: If all conditions are met, all 3 discounts can be applied to the list price

Explanation:

This is a series discount which means the following:

20 is for 20% off the list price which leaves 80%.

15 is for 15% off which leaves 85% and,

5 is for 5% off which leaves 95%.

If all conditions placed by the seller are met, all 3 discounts can be applied to the list price.

They are applied by multiplying the discounted price proportions.

= 0.8 * 0.85 * 0.95

= 0.646 will be the discounted price.

Superior Company has provided you with the following information before any year-end adjustments: Net credit sales are $122,500. Historical percentage of credit losses is 4%. Allowance for doubtful accounts has a credit balance of $650. Accounts receivables ending balance is $52,000. What is the estimated bad debt expense using the percentage of credit sales method

Answers

Answer:

The estimated bad debt expense using the percentage of credit sales method is $4,250.

Explanation:

Credit losses = Net credit sales * Historical percentage of credit losses = $122,500 * 4% = $4,900

Allowance for doubtful accounts has a credit balance = $650.

The estimated bad debt expense can therefore be calculated as follows:

Bad debt expense = Credit losses - allowance for doubtful accounts credit balance = $4,900 - $650 = $4,250

Therefore, the estimated bad debt expense using the percentage of credit sales method is $4,250.

A company is projected to generate free cash flows of $357 million next year, growing at a 6% rate until the end of year 3. After that, cash flows are expected to grow at a stable rate of 2.4% in perpetuity. The company's cost of capital is 9.1%. The company owes $96 million to lenders and has $14 million in cash. If the company has 207 million shares outstanding, what is your estimate for its stock price

Answers

Answer:

$27.02

Explanation:

Year a   Cash flow b   Discount factor (c = 1.091^-a)   Present Value d=b*c

1                $357.00                   0.9165903                          $327.22

2               $378.42                    0.8401377                           $317.92

3               $401.13                      0.7700621                          $308.89

Total                                                                                       $954.04

Present value of after year 3 cash flows:

Present value = CF3*(1+g)/(Ke-g)*DF3; where CF3 =$401.13, g = 2.40%, Ke = 9.10%, DF3 = 0.770062,

Present value = $4,720.97

Present value of all cash flows:

Present value of cash flows = $954.04 + $4,720.97 + $14.00

Present value of cash flows = $5,689

Calculation of value per share:    

Value of firm =            $5,689.00

Less: Value of debt = $96.00

Value of equity           $5,593.00      

/ No. of shares                 207      

Value per share          $27.02    

Select the correct word(s) from the drop down menu to finish the following sentences:
Fish in the ocean can be caught by anyone, and it is difficult to prevent people from fishing, in this sense, fish in the oceans are_____. If I catch a fish, that means there is one less fish in the sea for someone else to catch. Therefore, fish are_____. Considering those two characteristics, fish in the ocean are____.

Answers

Question Completion:

Drop-down menu:

- excludable

- non-excludable

- rivalrous

- non-rivalrous

- common goods

- club goods

- public goods

- private goods

Answer:

Correct words to finish the sentences:

Fish in the ocean can be caught by anyone, and it is difficult to prevent people from fishing, in this sense, fish in the oceans are__non-excludable___.

If I catch a fish, that means there is one less fish in the sea for someone else to catch. Therefore, fish are__rivalrous___.

Considering those two characteristics, fish in the ocean are_common goods___.

Explanation:

The two key characteristics of a public good are: it is non-excludable and non-rivalrous.  A common good is non-excludable but rivalrous. A private good is excludable and rivalrous.  A club good is excludable and non-rivalrous.

Non-excludable refers to goods that are costly and impossible for a person to exclude other users from using the goods.

Non-rivalrous good refers to goods that a person can use without preventing others from using the goods.

Oops, they done did it again
Another mate dead, misplaced his head
Oh, who could it be?
I mean, it definitely wasn't me
No clue where that charlatan ran?
I've been around the Skeld, only know too well
Villain vampires want fresh blood
So now everyone's sus

Are you crawling 'round the vents
Or can you prove your innocence?
Don't go lyin' to me!
I saw a body lyin' there!
Don't go lyin' to me
Don't go lyin', don't go lyin'
I ain't gonna let there be
No more dyin', no more dyin'
Don't go lyin' to me!
I saw a body lying there!
It was right there!


So Jordan was in Medbay, Ellie in elec'
Jerome was roaming through the hallways
Guess we gotta, gotta do a triple-check
It ain't the killer's holiday

Are you crawling 'round the vents
Or can you prove your
Don't go lyin' to me!
I saw a body lyin' there!
Don't go lyin' to me
Don't go lyin', don't go lyin'
I ain't gonna let there be
No more dyin', no more dyin'
Don't go lyin' to me!
I saw a body lying there!
It was right there!

(Don't go lyin' to me!)
(Do-do-don't go lyin' to me!)
It was right there!
It was right there!
(Don't go lyin' to me!)
(Do-do-don't go lyin' to me!)
It was right there!

Listen to me, listen now, lend me your ears
Let me lay it out easy so to lessen all your fears
Just living and loving, not about to let you down
Let's look at this logically, figure this out
We can likely verify each other's alibis
No need to allegate, litigate, itemize lies
I just wanna live free, liberty, let me be
And I won't be ejected, not a liability
Back off!


Don't go lyin' to me!
I saw a body lyin' there!
Don't go lyin' to me
Don't go lyin', don't go lyin'
I ain't gonna let there be
No more dyin', no more dyin'
Don't go lyin' to me!
I saw a body, a body!


Don't go lyin' to me!
I saw a body lyin' there!
Don't go lyin' to me
Don't go lyin', don't go lyin'
I ain't gonna let there be
No more dyin', no more dyin'
Don't go lyin' to me!
I saw a body lying there!
It was right there!

Answers

Answer:

wow that's ummmmmmmmm cool

According to the literature on organizational conflict, constructive conflict Question 1 options: tends to produce beneficial outcomes, particularly better decision making. is the main source of conflict in organizations. is the only conflict management style that has high assertiveness and low cooperativeness. is one of the most common outcomes of organizational conflict.

Answers

Answer:

tends to produce beneficial outcomes, particularly better decision making.

Explanation:

Constructive conflict occurs when there are problems that need to be solved by a team in the organization, and thus influence people to cooperate with creative and innovative ideas for solving the problem that can help to produce beneficial results, especially better decisions.

Constructive conflict helps the organization to be more productive by aggregating different ideas about the same problem and focusing on the solution to the resolution, which increases the sense of team integration, participation and understanding of different alternatives that will be improved so that the organization has the best decision making for such a problem.

A company's old machine that cost $40,000 and had accumulated depreciation of $22,000 was traded in on a new machine having an estimated 20-year life with an invoice price of $45,000. The company also paid $33,000 cash, along with its old machine to acquire the new machine. If this transaction has commercial substance, the new machine should be recorded at:

Answers

Answer:

$45,000

Explanation:

Based on the information given we are told that the new machine had an estimated 20-year life as well as an invoice price of the amount of $45,000 which means that in a situation were the transaction has commercial substance the new machine should be recorded at invoice price of the amount of $45,000.

Therefore the new machine should be recorded at:$45,000

The ink-jet printing division of Environmental Printing has grown tremendously in recent years. Assume the following transactions related to the ink-jet division occur during the year ended December 31, 2018
1. Environmental Printing is being sued for $10.7 million by Addamax. Plaintiff alleges that the defendants formed an unlawful joint venture and drove it out of business. The case is expected to go to trial later this year. The likelihood of payment is reasonably possible.
2. Environmental Printing is the planiffin an $8.7 million lawsuit filed against a competitor in the high-end color-printer market. Environmental Printing expects to win the case and be awarded between $6.2 and $8.7 million.
3. Environmental Printing recently became aware of a design flaw in one of its ink-jet printers. A product recall appears probable. Such an action would likely cost the company between $470,000 and $870,000.

Answers

Answer:

1. No journal entry required

2. No journal entry required

3 Dr Loss $470,000

Cr Contingent liability $470,000

Explanation:

Preparation of the journal entry to Record any amounts as a result of each of these contingencies

1. Based on the information given we were told that The likelihood of the payment is reasonably possible which means that contingent liability amount was not recognized and therefore NO JOURNAL ENTRY IS REQUIRED

No journal entry required

2. Based on the information given we were told that Environmental Printing was expecting to win the case and be awarded the cash amount involved which means NO JOURNAL ENTRY IS REQUIRED reason been the CONTINGENT GAIN will not be recognized until the amount is received.

No journal entry required

3. Contingent liability was recorded because the payment is reasonably possible and Estimated.

Dr Loss $470,000

Cr Contingent liability $470,000

Which of the following is considered important in a company's attempt to strengthen partner relationships? Group of answer choices The partnership's objectives should move beyond tactical issues and toward a more strategic path The partnership should have a shared vision and objectives The partnership should have measurable objectives The vision and objectives should be accepted and formally agreed upon by both parties All of the above are considered important in strengthening partner relationships

Answers

Answer:

All of the above are considered important in strengthening partner relationships

Explanation:

Partner relationship exists when two or more people come together to undertake a business venture. Profits and losses are between all partners.

Maintaining a good partner relationship ensures that the business performs and meets its goals.

A strategic path for objectives of the partners means the business does not only plan but executes its plans.

Shared vision and objectives ensures the partners work in harmony to achieve set targets.

The obejecives should be measureable, this sets realistic milestones.

Also shared vision and objectives should be formally agreed to by all parties.

What is the basic economic problem that happens because people have unlimited wants but resources are limited? *

A opportunity cost

B sunk cost

C needs


D scarcity​

Answers

Answer:

D

Explanation:

Scarcity is the basic economic problem that happens because people have unlimited wants but resources are limited.

hope this helps

Torge Company bought a machine for $74,000 cash. The estimated useful life was five years and the estimated residual value was $5,000. Assume that the estimated useful life in productive units is 165,000. Units actually produced were 44,000 in year 1 and 49,500 in year 2.
Required:
1. Determine the appropriate amounts to complete the following schedule. (Do not round intermediate calculations.)
Depreciation Expense for Depreciation Expense for Book Value at the End of Method of Depreciation Book Value at the End of Method of Depreciation
Method of Depreciation Year 1 Year 2 Year 1 Year 2
Straight-line
Units-of-production
Double-declining-balance
2. Which method would result in the lowest net income for year 1?
3. Which method would result in the lowest net income for year 2?
4. Which method would result in the lowest fixed asset turnover ratio for year 1?

Answers

Answer:

Straight line depreciation

                Depreciation expense           Book Value at the End of                   Year 1        $13800                                     $60,200  

Year 2       $13800                                     $46,400

Units of production            

              Depreciation expense           Book Value at the End of                      Year 1           $18400                                     $55,600

Year 2          $20,700                                    $34,900

Double declining balance          

             Depreciation expense           Book Value at the End of                  Year 1          $29600                                    $44,400  

Year 2          $17,760                                    $26,640

2. Double-declining-balance

3. Units-of-production

4. Straight-line

Explanation

Straight line depreciation expense = (Cost of asset - Salvage value) / useful life

($74,000 - $5000) / 5 = $13800

Depreciation expense each year would be $13800

Book value = cost of asset - depreciation

Book value in year 1 = $74,000 - $13800 = $60,200    

Book value in year 2 = $60,200 - $13800 = $46,400  

Unit of production = (total output that year / total output of the machine) x  (Cost of asset - Salvage value)

Deprecation expense in year 1 = (44,000 / 165,000) x  ($74,000 - $5000) = $18400

Deprecation expense in year 2 = (49,500 / 165,000) x  ($74,000 - $5000) = $20700

Book value in year 1 = $74,000 - $18,400 = $55,600

Book value in year 2 = $55,600 - $20700 = $34,900

Depreciation expense using the double declining method = Depreciation factor x cost of the asset

Depreciation factor = 2 x (1/useful life)  = 2/5 = 0.4

Deprecation expense in year 1 = 0.4 x $74,000 = $29600

Book value in year 1 = $74,000 - $29600 = $44,400

Deprecation expense in year 2 = 0.4 x $44,400 = $17,760

Book value in year 2 = $44,400 - $17,760 = $26,640

Net income is revenue less cost of goods sold, general expenses, taxes, depreciation and interest.

The method that would yield the lowest net income in year 1 is the method that yields the highest deprecation expense in year 1. This is the double declining method

The Units-of-production would yield the lowest net income in year 2 because it has the highest depreciation expense

Fixed asset turnover = revenue / average net fixed assets

average net fixed assets = cost of asset - accumulated depreciation

the higher the average net fixed asset, the lower the fixed asset turnover. The depreciation method that yields the lowest depreciation expense in year 1 would have the lowest fixed asset turnover ratio. This is the straight line method

Ultimo Co. operates three production departments as profit centers. The following information is available for its most recent year. Department 1's contribution to overhead as a percent of sales is:
Dept. Sales Cost of Goods Sold Direct Expenses Indirect Expenses
1 1,080,000 708,000 102,000 88,000
2 480,000 158,000 48,000 108,000
3 780,000 308,000 158,000 28,000
a) 56.7%
b) 25.0%
c) 34.7%
d) 34.0%
e) 61.6%

Answers

Answer:

b) 25.0%

Explanation:

Calculation to determine what Department 1's contribution to overhead as a percent of sales is

First step is to calculate the Contribution to overhead

Using this formula

Contribution to overhead=Sales - Cost of goods sold - Direct expenses

Let plug in the formula

Contribution to overhead=1,080,000 - $708,000 - 102,000

Contribution to overhead= $270,000

Now let calculate the Contribution to overhead as a percent of sales using this formula

Contribution to overhead as a percent of sales=Contribution to overhead/Sales

Let plug in the formula

Contribution to overhead as a percent of sales=$270,000/$1,080,000

Contribution to overhead as a percent of sales= 25%

Therefore Department 1's contribution to overhead as a percent of sales is 25%

Freda's Florist reported the following before-tax income statement items for the year ended December 31, 2021: Operating income $ 269,000 Income on discontinued operations 55,000 All income statement items are subject to a 25% income tax rate. In its 2021 income statement, Freda's separately stated income tax expense and total income tax expense would be:

Answers

Answer:

the separately stated income tax expense and total income tax expense is $67,250 and $81,000 respectively

Explanation:

The computation of the separated stated income tax expense and total income tax expense is shown below

Income tax expense is

= $269,000 × 25%

= $67,250

And, the Total income tax expense is

= ($269,000 + $55,000) × 25%

= $81,000

hence, the separately stated income tax expense and total income tax expense is $67,250 and $81,000 respectively

The following information pertains to Sandhill Company.
1. Cash balance per books, August 31, $7,374.
2. Cash balance per bank, August 31, $7,338.
3. Outstanding checks, August 31, $708.
4. August bank service charge not recorded by the depositor $60.
5. Deposits in transit, August 31, $3,710.
In addition, $3,026 collected for Sandhill Company in August by the bank through electronic funds transfer. The accounts receivable collection has not been recorded Sandhill Company.
1. Prepare a bank reconciliation at August 31, 2022. (List items that increase balance as per bank & books first.)
CULLUMBER COMPANY
Bank Reconciliation
2. Journalize the adjusting entries at August 31 on the books of Cullumber Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date Account Titles and Explanation Debit Credit
July 31 (To record electronic funds transfer received by bank)
July 31 (To record bank service charge)

Answers

Answer:

                              Sandhill Company

                 Bank Reconciliation Statement for August

                                                                                                $

Cash balance per books                                                     7374

Outstanding checks                                                              708

August bank service charge                                                 (60)

Deposits in transit                                                                (3710)

Electronic funds transfer                                                     3026

Balance per bank                                                                7338

Adjusting entries

August bank service charge

Dr Bank charge   $60

Cr Cash account  $60

Being entries to record the bank charge for August

Electronic funds transfer

Dr Cash Account    $3026

Cr  Accounts receivable  $3026

Being entries to record cash received from a customer

Explanation:

The bank reconciliation statement identifies transactions that have been correctly recorded by the bank but are yet to be correctly recorded in the books (if recorded).

Considering the given transactions;

Outstanding checks have been deducted from the cash book but are yet to be deducted from the bank.

The bank charge has been deducted from the bank balance but is yet to be recorded in the cash book.

Deposits in transit has been added to the cash book balance but is yet to be added to the bank balance hence it is deducted from the cash book balance to reconcile it to the bank balance.

Electronic funds transfer has been added to the bank balance and will be added to the cash book balance.

Only the bank charge and electronic transfer are yet to be adjusted for in  the books hence adjusting entries are required for these 2 items.

Using Firm Guidance to Research a Revenue Question
•You are an accountant working for Hotel Co. Your supervisor has asked you to research what amount of revenue Hotel Co. should recognize for transactions booked by customers on Expedia.com.
•Expedia generally collects the full transaction price from the customer, then withholds a small fee (say, $10) from each transaction and remits the balance to Hotel Co.
•Should Hotel Co. record the gross transaction fee or only the net amount it receives from Expedia.com? Use nonauthoritative firm guidance to assist in your response.
•Start off with the codifications (606?), then move to the non-auth. sources.

Answers

Answer:

The Hotel Co. should record the net amount it receives from Expedia.com

Explanation:

According to codification ( 606 ) The Hotel Co. should record the net amount it receives from Expedia.com

Applying codification ( 606 )  the entity( Expedia.com ) will give the agreed upon transaction price to Hotel.co as soon as a requirement is met. and that price can be based on standalone selling prices of  the service or good which is defined within the contract. but if the selling price is not clear there will be an estimate of the price, note that: Transaction prices are always not the same as the standalone selling price.

The outstanding checks total_________.

1. $158.53
2. $246.53
3. $48.00
4. $914.47

Answers

Answer:

1,367.53

Explanation:

The following is the sales budget for Coore, Inc., for the first quarter of 2019: JanuaryFebruaryMarch Sales budget$135,000$152,000$167,000 Credit sales are collected as follows: 60 percent in the month of the sale 30 percent in the month after the sale 10 percent in the second month after the sale The accounts receivable balance at the end of the previous quarter was $96,000 ($78,800 of which was uncollected December sales). a. Compute the sales for November. (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) b.Compute the sales for December. (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) c.Compute the cash collections from sales for each month from January through March. (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.)

Answers

Answer: See explanation

Explanation:

a. . Compute the sales for November.

This will be:

= ($96,000 - $78,800) / 10%

= $17200 / 10%

= $17200/0.1

= $172,000

b. Compute the sales for December.

This will be:

= $78800 / (10% + 30%)

= $78800 / 40%

= $78800 / 0.4

= $197000

c. Compute the cash collections from sales for each month from January through March.

January cash collection:

= ($172000 × 10%) + ($197000 × 30%) + ($135000 × 60%)

= $17200 + $59100 + $81000

= $157300

February cash collection:

= ($197000 × 10%) + ($135000 × 30%) + ($152000 × 60%)

= $19700 + $40500 + $91200

= $151400

March cash collection:

= ($135000 × 10%) + ($152000 × 30%) + ($167000 × 60%)

= $13500 + $45600 + $100200

= $159300

Schweitzer realized that in many cases individuals could only accomplish direct human service in collaboration with official organization. What he wanted was: to help fund such organizations. to be a leader in such organizations. an absolutely personal and independent activity. to increase the number of official organizations dedicated to direct human service.

Answers

Answer: an absolutely personal and independent activity

Explanation:

Since Schweitzer realized that direct human service can only be accomplished when one collaborates with an official organization, this shows that he wanted to be an absolutely personal and independent activity.

In such case, he wants an activity that will be free from the outside control. Other options are wrong as he wasn't really interested in funding of organizations, or increasing the number of official organizations that are dedicated to direct human service.

Areas of land are divided by appropriate authorities into zones within which various uses are permitted. Thus, zoning is a technique of land-use planning as a tool of urban planning used by local governments in most developed countries. Because of the importance of zoning and regulating the manner of property use, which of the following statements is most accurate?
a. changing zoning to allow some landowner to use property other than what is permitted for that land is 'spot zoning' and unlawful in most states
b. it is almost impossible to obtain a variance in zoning
c. variances were rendered unlawful pursuant to the federal civil rights laws because they were used to discriminate against people unlawfully
d. it is possible to obtain a variance to use property for purposes other than how the property is zoned, but in granting permission for such a special use the governing entity granting such permission must use its discretion to insure compatible use and that zoning scheme is not disrupted

Answers

Answer: d. it is possible to obtain a variance to use property for purposes other than how the property is zoned, but in granting permission for such a special use the governing entity granting such permission must use its discretion to insure compatible use and that zoning scheme is not disrupted.

Explanation:

Variances are exceptions to the zoning rules and laws applied by the governing entity in charge of the zoning and enable users to use a property for other reasons that the zone permit may allow.

The type of variance being sought and the governing entity are very important because some variances are easier to get and some entities are more flexible.

In all cases however, when a variance is granted, the governing entity should ensure it uses its discretion to make sure that the variance is used well and that the zoning scheme is not disrupted.  

Answer:

D. it is possible to obtain a variance to use property for purposes other than how the property is zoned, but in granting permission for such a special use the governing entity granting such permission must use its discretion to insure compatible use and that zoning scheme is not disrupted

Explanation:

Hope this helps

The following cost behavior patterns describe anticipated manufacturing costs for 2019: raw material, $7.50/unit; direct labor, $10.50/unit; and manufacturing overhead, $297,500 $8.50/unit. Required: If anticipated production for 2019 is 35,000 units, calculate the unit cost using variable costing and absorption costing. (Round your answers to 2 decimal places.)

Answers

Answer:

                                         Unit cost

                                                $

Variable costing                    18

Absorption costing               26.5

Explanation:

Variable costing values every unit produced at the marginal cost. Marginal cost is the sum of direct material, direct labor and variable overhead.

Marginal cost = 7.50 + 10.50 =$18

Absorption costing values every unit at full cost. Full cost is the sum of marginal and fixed overhead cost per unit,

Fixed overhead cost per unit =  $297,500/35,000=8.5

Full cost = 7.50 + 10.50 + 8.50= $26.5

                                     Unit cost

                                                $

Variable costing                    18

Absorption costing               26.5

Suppose the economy of the large country of Hendrix is currently experiencing expansion as a result of short run business cycle fluctuations. Hendrix has a trade deficit. The items below are possible effects of this expansion on the trade balance. Please sort them into boxes below as appropriate. If they do not fit into either box (e.g. not likely to occur in an expansion), leave them unsorted.
Likely to occur in an expansion and increase the trade deficit
Likely to occur in an expansion and decrease the trade deficit
private savings decrease domestic private investment increases private savings increase government borrowing decreases imports increase government borrowing increases domestic private investment decreases imports decrease

Answers

Answer:

Likely to occur in an expansion and increase the trade deficit.

Domestic private investment increasesImports increase

As a result of expansion, there is more income in the economy which means that people will be able to invest more. The investment will however lead to more imports as capital goods are acquired. This will therefore increase the trade deficit which is defined as the difference between net exports and net imports.

Likely to occur in an expansion and decrease the trade deficit.

Private savings increaseGovernment borrowing decreases

In an expansion, people will have more income and so will save more. As a result of them not spending these savings on imports, the trade deficit will go down.

Also with the economy in an expansion, the government would not need to borrow as much money to prop up the economy. This will reduce the trade deficit which includes loans from outside.

You expect Technomess Company common stock to pay a dividend of $2.40 one year from now. You can buy the stock now for $52, and you plan to sell the stock at the end of one year. Given the risk of the stock, your required rate of return is 16%. For what price would you need to sell your stock in one year in order to earn your required rate of return

Answers

Answer:

The stock price = $57.92

Explanation:

The return on a stock is the sum of the capital gains(loss) plus the dividends earned.

Capital gain is the difference between he value of the stocks when sold and the cost of the shares when purchased.

Total shareholders Return =  

(Capital gain/ loss + dividend )/purchase price × 100

16% = ((x-52) + 2.40)/52

0.16×52 = (x-52) + 2.40

8.32 = X- 52 + 2.40

52+8.32-240=X

57.92 = X

$57.92= X

The stock would need to be sold for  = $57.92

make balance sheet
1.sold all the stock for 5000 and receive a cheque
2. a trade receivable paid 600 by cheque
3. the owner took 800 from the bank for personal use
4. withdrew 2000 from the bank for business expenses​

Answers

Answer:

Balance Sheet as at year end

ASSETS

Cash (5000 + 600 - 800 - 2000)                        $2,800

Trade Receivable ( -600)                                      ($600)

TOTAL ASSETS                                                    $2,200

EQUITY AND LIABILITIES

EQUITY

Retained Earnings (5000 -800 - 2000)             $2,200

TOTAL EQUITY                                                    $2,200

LIABILITIES  

Liabilities                                                                      $0

TOTAL LIABILITIES                                                     $0

TOTAL EQUITY AND LIABILITIES                      $2,200

Explanation:

The Balance sheet contains balances of Assets, Liabilities and Equity as at the Reporting date.

So given the above transactions above, we have to identify which accounts (Assets, Liabilities or Equity) are affected by each transaction, than record under the relevant heading as shown in the solution.

William is a single writer (age 35) who recently decided that he needs to save more for retirement. His 2020 AGI before the IRA contribution deduction is $66,000 (all earned income). (Leave no answer blank. Enter zero if applicable.) a. If he does not participate in an employer-sponsored plan, what is the maximum deductible IRA contribution William can make in 2020?

Answers

Answer: $6,000

Explanation:

As per IRS deduction rules in 2020, the maximum deductible IRA contribution for a person who does not participate in an employer-sponsored plan is $6,000.

That is therefore the maximum deductible that William can make in this scenario.

Suppose that there are two industries, A and B. There are five firms in industry A with sales at $5 million, $2 million, $1 million, $1 million, and $1 million, respectively. There are four firms in industry B with equal sales of $2.5 million for each firm. The HHI for industry A is:

Answers

Answer:

3200

Explanation:

The HHI is calculated by squaring the market share of each firm in the industry.

Market share = sales of a firm / total sales of firms in the industry

total sales of firms in the industry = 5 + 2 + 1 + 1 + 1 = 10

Market share of firm A = (5/10) x 100 = 50%

Market share of firm B = (2/10) x 100 = 20%

Market share of firm C, D, E = (1/10) x 100 = 10%

50² + 20² + 10² + 10²  + 10² = 3200

Below are the transactions and adjustments that occurred during the first year of operations at Kissick Co

a. Issued 198,000 shares of $6-par-value common stock for $1,188,000 in cash.
b. Borrowed $550,000 from Oglesby National Bank and signed a 11% note due in three years.
c. Incurred and paid $380,000 in salaries for the year.
d. Purchased $650,000 of merchandise inventory on account during the year.
e. Sold inventory costing $580,000 for a total of $910,000, all on credit.
f. Paid rent of $220,000 on the sales facilities during the first 11 months of the year.
g. Purchased $190,000 of store equipment, paying $51,000 in cash and agreeing to pay the difference within 90 days.
h. Paid the entire $139,000 owed for store equipment and $600,000 of the amount due to suppliers for credit purchases previously recorded.
i. Incurred and paid utilities expense of $36,000 during the year.
j. Collected $845,000 in cash from customers during the year for credit sales previously recorded.
k. At year-end, accrued $60,500 of interest on the note due to Oglesby National Bank.
l. At year-end, accrued $20,000 of past-due December rent on the sales facilities.

Required:
Prepare an income statement (ignoring income taxes) for Kissick Co.'s first year of operations and a balance sheet as of the end of the year.

Answers

Answer:

Income Statement Sales 9,00,000 Cost of goods sold 5,80,000 Gross profit 3,20,000 Salaries expense 3,90,000 Rent expense 2,40,000 Utilities expense 38,000 Loss from operations -3,48,000 Interest expense -59,400 Net loss -4,07,400     KI

Explanation:

Purchased $190,000 of store equipment, paying $51,000 in cash and agreeing to Paid the entire $139,000 owed for store equipment and $600,000 of the amount due to suppliers for credit purchases previously recorded. pay the difference within 90 days. that make it a way to create sales.

Dinnertime
A professor is planning an informal gathering for 100 or so of his closest friends. The project breaks down as follows:
Activity Time Predecessor
Call planner 12
Book caterer 10
Hire quartet 9 Call planner
Schedule cleaning crew 15 Call planner
Stock wine cellar 7 Book caterer
Hire valets 8 Schedule cleaning crew, Stock wine cellar
Schedule butler overtime 13 Hire quartet, Hire valets
1. Refer to Table I, Which of these is not a critical path activity?
1) schedule cleaning crew
2) hire quartet
3) hire valets
4) schedule butler
2. Refer to Table I, What is the slack time for the Stock wine cellar activity?
1) 14
2) 8
3) 10
4) 12
3. Refer to Table I, What is the fastest this project can be completed?
1) 38
2) 48
3) 34
4) 44

Answers

Answer:

1. 2) hire quartet

2. 3) 10

3. 1) 38

Explanation:

Hiring the quartet is not a critical path activity as dinner can be arranged if this activity is not carried out. There is need for hiring the valet service, scheduling of cleaning crew and schedule butler. All these activities are critical path activities. The slack time for stock wine cellar activity is 10.

Absorption and Variable Costing; Inventory Valuation Bondware Inc., has a highly automated assembly line that uses very little direct labor. Therefore, direct labor is part of variable overhead. For March, assume that it incurred the following unit costs: Direct materials $500 Variable overhead 440 Fixed overhead 160 The 100 units of beginning inventory for March had an absorption costing value of $90,000 and a variable costing value of $76,000.
For March, assume that Bondware Inc. produced 500 units and sold 540 units.
Compute Bondware's March amount of ending inventory under both absorption and variable costing if the FIFO inventory method was used.
Ending Inventory
Absorption Costing $ (Answer)
Variable Costing $ (Answer)

Answers

Answer:

Bondware Inc.

FIFO Inventory Method:

Ending Inventory (60 units):

Absorption Costing = $66,000

Variable Costing = $56,400

Explanation:

a) Data and Calculations:

Unit Production Costs for March:

Direct materials     $500

Variable overhead   440

Total variable cost $940

Fixed overhead        160

Total manufacturing

  costs per unit   $1,100

Calculation of Ending Units of Inventory:

Beginning units     100

Units produced = 500

Units sold =         (540)

Ending units =        60

Beginning Inventory, 100 units:

Absorption costing value = $90,000

Variable costing value = $76,000

FIFO Inventory Method:

Ending Inventory:

Absorption Costing = 60 * $1,100 = $66,000

Variable Costing = 60 * $940 =       $56,400

Click this link to view O*NET’s Wages and Employment section for Executive Administrative Assistants. According to O*NET, what is the projected growth for this career between 2019 and 2029?

faster than average (this one is wrong)

average

slower than average

decline

Answers

Answer:

Decline

Explanation:

Answer:

Decline

Explanation:

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