Kirtland Corporation uses a periodic inventory system. At the end of the annual accounting period, December 31, the accounting records for the most popular item in inventory showed the following: Transactions Units Unit Cost Beginning inventory, January 1 480 $3.00 Transactions during the year: a. Purchase, January 30 380 4.20 b. Purchase, May 1 540 4.00 c. Sale ($5 each) (240) d. Sale ($5 each) (780) Required: a. Compute the amount of goods available for sale. b. & c. Compute the amount of ending inventory and cost of goods sold at December 31, under Average cost, First-in, first-out, Last-in, first-out and Specific identification inventory costing methods. For Specific identification, assume that the first sale was selected two-fifths from the beginning inventory and three-fifths from the purchase of January 30. Assume that the second sale was selected from the remainder of the beginning inventory, with the balance from the purchase of May 1. (Do not round intermediate calculations. Round "Average Cost and Specific Identification" answers to 2 decimal places.)

Answers

Answer 1

As per the question and the information provided, we can compute the answer as follows:

Working Note:

The cost of goods available for sale and closing inventory during 2012 is prepared below.

Description Date Units Unit Cost total amount

Beginning inventory 1-Jan 400 $3.00 $1,200.00

Purchases 30-Jan 600 $3.20 $1,920.00

1-May 460 $3.50 $1,610.00

Total purchases 1060 $3,530.00

Total cost of goods available for sale

1460 $4,730.00

Total units sales 860

Closing inventory 600

a) There are 1,460 units of commodities for sale, totaling $4,730.

1) Closing inventory according to the average cost method

1,460 items of the offered commodities are for sale.

There are $4,730 worth of things available for purchase.

Average cost per unit = Amount of goods available for sale/Goods available for sale in units

=4,7301,460

=$3.24

Now, since ending inventory is 600 units

Then,

Ending inventory = 600 × $3.24

=$1,944

2. The FIFO method is used to value the ending inventory starting with the most recent purchases.

The final stock is 600 units.

The following purchases will be used to determine the valuation.

1-May - 460 units at the rate $3.50 per unit

30-Jan - 140 units at the rate 3.20 per unit

Now,

Ending inventory = (460 × $3.50) + (140 × $3.20)

= $1,610 + $448

=$2,058

3. In the LIFO technique, the ending inventory is valued from the beginning inventory onward.

The final stock is 600 units.

The following purchases will be used to determine the valuation.

January 1- 400 units at the rate $3.00 per unit

30-Jan - 200 units at the rate 3.20 per unit

Now,

Ending inventory = (400 × $3.00) + (200 × $3.20)

=$1,200 + $640

=$1,840

c)

Particulars Average method FIFO LIFO

Total cost of goods available for sale

$4,730.00    $4,730.00    $4,730.00   

Ending inventory value

$1,944.00 $2,058.00 $1,840.00

Cost of goods sold

$2,786.00 $2,672.00 $2,890.00

1. The cost of goods sold on December 31, 2012, under Average cost is $2,786

2. The cost of goods sold on December 31, 2012, under First-in, first-out is $2,672

3. The cost of goods sold on December 31, 2012, under Last-in, first-out is $2,890

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Related Questions

67. Before being transported, hazardous waste generated by Tire Maker, Inc., must be properly labeled and packaged under the Resource Conservation and Recovery Act by a. the federal Environmental Protection Agency. b. the local Resource Conservation and Recovery Committee. c. the state Environmental Regulatory Commission. d. Tire Maker, Inc.

Answers

Before being transported, hazardous waste generated by Tire Maker, Inc., must be properly labeled and packaged under the Resource Conservation and Recovery Act by Tire Maker, Inc.

The science, art, and technology of packaging involves confining or safeguarding goods for distribution, storage, sale, and use. The process of creating, analyzing, and designing packages is sometimes referred to as packaging.

Packaging can be thought of as a well-organized system for setting up products for sale, warehousing, logistics, and final usage. Packaging helps to transport, protect, preserve, inform, and sell. It is completely integrated into commercial, institutional, industrial, and personal use in many nations.

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on september 1, 2024, daylight donuts signed a $130,000, 9%, six-month note payable with the amount borrowed plus accrued interest due six months later on march 1, 2025. daylight donuts accrued interest for the note on december 31, 2024. which of the following would be recorded on the payment of the note plus accrued interest at maturity on march 1, 2025? (

Answers

On the payment of the note plus accrued interest at maturity on March 1, 2025, Daylight Donuts would record a debit to Cash of $131,450 and a credit to Notes Payable for the same amount.

The $130,000 debit to Notes Payable represents the principal amount borrowed from the note, while the $1,450 credit to Notes Payable represents the accrued interest on the note for the six-month period.

This is calculated by taking the interest rate of 9% multiplied by the principal amount of $130,000, which equals $11,700. Then, the interest is divided by the number of months (6) giving us the amount of $1,450. Therefore, the total amount paid on the note at maturity is $131,450 ($130,000 principal plus $1,450 interest).

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in accordance with the constant-growth ddm, calculate the intrinsic value of stock a based on the following information: the expected growth rate of dividends is 6% for stock a and 5% for stock b. the expectation is that each of the stocks will pay a dividend of $4 in the upcoming year. you want to earn a return of 10% on each of two stocks.

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Profit Rebate Model = Inborn Worth = Amount of Present Worth of Profits + Present Worth of Stock Deal Cost. The price of the dividend discount model, or DDM model, is the intrinsic value of the stock.

How is intrinsic value determined?All of a company's future cash flows should be estimated.Determine the current worth of each of these upcoming cash flows.To determine the stock's intrinsic value, add up the present values.

How is the DDM growth rate calculated?

Divide the current dividend, Di, by the last dividend, Di-1, and then subtract one from the result to get the periodic dividend growth in percentage.

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Which if the following is not a type of inventory?
A) Finished goods in the stockroom
B) food cans in a foods store raw materials
C) job being processed on the machine
D) all of above

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Food cans in a food store raw materials are not a type of inventory. Thus, Option B) is the correct answer.

Raw materials required for a product's production, work in progress, or jobs being processed by a machine, and finished goods kept in warehouses and required for delivery to clients make up the inventory items. The things that are finished and unfinished and ready to be shipped to clients make up the inventory. They include everything required for the purpose of production.

Since there are resources required to create the food that fills the cans before they are finally sealed and canned, the food can in a food store's raw materials is not a part of the ordinary inventory. The full cans that are prepared to be distributed make up the company's inventory.

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ebook show me how question content area inventory analysis a company reports the following: cost of goods sold $227,760 average inventory 56,940 determine (a) the inventory turnover and (b) the number of days' sales in inventory. round interim calculations to the nearest dollar and final answers to one decimal place. assume 365 days a year. a. inventory turnover fill in the blank 1 b. number of days' sales in inventory fill in the blank 2 days

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The correct answer is (a) the inventory turnover. Inventory turnover is a gauge of a company's inventory management effectiveness in relation to its cost of goods sold.

What is inventory turnover?

Inventory turnover is a financial ratio that demonstrates how frequently a company turns over its stock in relation to its cost of goods sold (COGS) over the course of a specific time period.

The number of days in the period—typically a fiscal year—can then be divided by the inventory turnover ratio to determine the average number of days it takes for a company to sell its inventory.

Businesses can improve their decisions on pricing, manufacturing, marketing, and purchasing by using the inventory turnover ratio.

It is one of the efficiency ratios used to gauge how well a business uses its resources.

A low inventory turnover ratio could indicate sluggish sales or too much inventory.

On the other hand, a high inventory turnover ratio denotes robust sales. It can be the effect of not having enough stock.

Inventory Turnover=COGS/Average Value of Inventory

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figure 9.16 depicts the model of a labour market where there are 90 million workers. the current labour market equilibrium is at a. now consider the case where the total labour supply is increased to 100 million. based on this information, which of the following statements are correct regarding the adjustment process in the labour market? higher unemployment results in a reduction in the employment rent enjoyed by workers employed at the current wage. the firms are required to raise wages to induce workers to work hard. initially, unemployment doubles. the wage-setting curve shifts downward.

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The following statements are correct regarding the adjustment process in the labor market Initially, unemployment doubles and the wage-setting curve shifts downward.

Understanding the operation and dynamics of the markets for paid labour is the goal of labour economics, sometimes known as labour economics. The commodity of labour is provided by workers, often in return for a salary demanded by employers. Labor economics must take into consideration social, cultural, and political factors because these workers are a part of a social, institutional, or political system.

Employers and employees interact to drive labor markets, or employment markets. In order to understand the pattern of wages, employment, and income that results, labor economics examines the providers and consumers of labor services.

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Derivatives used for hedging purposes that require disclosure of reclassifications of accumulated other comprehensive income are most likely related to which of the following hedging purposes, if any?I. Fair value hedges.II. Cash flow hedges.A. I only.B. II only.C. Both I and II.D. Neither I nor II.B. II only.When derivatives are used as cash flow hedges, an amount of gain or loss can be deferred in other comprehensive income and subsequently become part of accumulated other comprehensive income. Amounts of accumulated other comprehensive income (on the hedging instrument) will be reclassified to income when the hedged item affects income.

Answers

Comprehensive Income (or comprehensive earnings) is defined as "all changes in equity over a period, excluding those resulting from investments by owners and distributions to owners"

in a company's financial reporting. [1] Because such application disregards the impact of shifting ownership interests, a financial analysis from the shareholders' perspective requires an economic measure of comprehensive income (All changes in Equity except those resulting from investment by or distribution to owners.) The Financial Accounting Standards Board, or FASB, defines comprehensive income as "the change in equity [net assets] of an enterprise throughout a period from transactions and other events and circumstances from non-owner sources." It incorporates all equity changes over the course of a time period aside from those brought on by owner investments and owner dividends.

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Social media marketing is used by marketers to accomplish which of the following? (Choose every correct answer.)
A) Remind buyers about the brand and its benefits
B) Increase the efficiency of the supply chain
C) Increase the price of the product or service offered
D) Communicate the value proposition of the brand

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Social media marketing is used by marketers to accomplish for A) Remind buyers about the brand and its benefits.

Social media performs an vital function in how clients discover, research, and proportion records approximately manufacturers and merchandise. In truth 60 percentage of clients studying merchandise via more than one on-line reassets found out approximately a particular logo or store via social networking sites.

Small companies can use social media channels for logo recognition campaigns via way of means of sharing easy-to-create content material together with infographics, quick videos, ads, and hyperlinks to greater detailed, extremely good content material that solutions clients questions or addresses trending topics.

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you are on vacation when your manager calls and asks for the password to your office computer because she needs immediate access to an important file. which of the following social engineering approaches is primarily being used?

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Hackers can gain access to your systems through outdated software. They locate the software's weaknesses and come up with strategies for exploiting them.

Internet browsers and computer operating systems, which are used by everyone, are frequently the targets of software assaults. With the aid of a password manager, both people and organisations can store and manage all of their passwords in one secure strategies location. Users won't have to remember numerous passwords as a result. All they need to remember to access their password manager is their master password. physical protections such as a secure area with locked doors, etc. technical security measures such encryption, passwords, and security software.

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The agreement between the United States, Canada, and Mexico that merges these three
countries into one marketplace is called
a. EU.
b. MERCOSUR.
c. APEC.
d. NAFTA.
e. GATT.
Answer : d

Answers

The trade agreement between United States, Canada, and Mexico that merged the market between the three countries is called NAFTA. The correct answer is d.

NAFTA is an acronym for North American Free Trade Agreement, a trade agreement which was signed by the United States, Canada, and Mexico that takes effect from January 1, 1994. It ensures a free trade between the three countries by simplifying trade processes, and eliminating tariffs and non tariffs barriers for imports and export of goods as well as investments between the three countries. NAFTA benefits the countries involved in the agreement by increasing economic cooperation, investments, and creating more jobs.

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The country of Latinivia has a goal to increase and foster economic activity and therefore increase Aggregate Demand. What actions would it take to achieve this goal? A) Cut funding to government departments to minimize the budget deficit. B) Increase taxes on imported services and oil. C) Fund new infrastructure projects by passing a new spending bill.

Answers

The country of Latinivia has a goal to increase foster economic activity and therefore increase Aggregate Demand. This country should Increase taxes on imported services and oil to achieve this goal.

So, the correct answer is Option B.Increase taxes on imported services and oil.

-If you receive foster care payments from the government, you are not required to record this income on your tax return because it is not taxable.

-Foster care costs could qualify as charity deductions.

You may be eligible for the adoption tax credit if you adopt the foster child.

The overall demand for final products and services in an economy at any particular time is known as aggregate demand, often referred to as domestic final demand. Effective demand is a common name for it, however other times this term is used to make a distinction. This is a country's demand for its gross domestic output.

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all of the following were the objectives of the glass-steagall act except group of answer choices discouraging speculation in financial markets. limiting bank mergers when the merger might adversely affect competition. preventing conflict of interest and self-dealing. restoring confidence in the commercial banking system. all of the above were the objectives of the glass-steagall act.

Answers

One objective that was not in the Glass-Steagall Act, was d. all of the above were the objectives of the Glass-Steagall Act.

What was the Glass-Steagall Act ?

In order to shield depositors from potential losses brought on by bank speculation in stocks, the Glass-Steagall Act, implemented in 1933, mandated that commercial banks refrain from investment banking activities.

At the time, the primary cause of the financial catastrophe was blamed on commercial banks' aggressive participation in the stock markets. Commercial banks were thought to have overexposed themselves to danger with depositors' money.

Glass-Steagall Act was therefore meant to restore the confidence of the public in the commercial banking system, by engaging in things such as limiting potential destructive ban mergers.

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Business professionals value workplace relationships and professional behavior; therefore, it is vital to understand the characteristics recruiters seek as you enter the workforce. Which of the following are synonyms for professional behavior? Check all that apply.
Polish
Business etiquette
Protocol
Civility
Social intelligence

Answers

The synonyms for "professional behavior" are polish, civility and social intelligence. So, the correct option is (A, D & E).

What do you mean by the "professional behavior"?

A professional attitude, look, and manners are all components of professional behavior in the workplace. It encompasses your speech, appearance, behavior, and decision-making.

Treating your superiors, coworkers, and clients with respect is one of the fundamental tenets of professional workplace conduct.

Professional conduct helps keep personal and professional ties distinct and keeps interactions focused on the current business situation.

Knowledge and proficiency in a particular field, interpersonal and communication skills, a strong work ethic, a commitment to fairness in all dealings, and a desire to advance are all crucial components of professional conduct.

Therefore, the synonyms for "professional behavior" are polish, civility and social intelligence.

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according to fasb statement no. 109, accounting for income taxes, justification for the method of determining periodic deferred tax expense is based on the concept of matching of periodic expense to periodic revenue. objectivity in the calculation of periodic expense. recognition of assets and liabilities. consistency of tax-expense measurements with actual tax-planning strategies.

Answers

The idea of Recognizing Assets and Liabilities serves as the foundation for the process of calculating periodic deferred tax expenditure, according to FASB Statement No. 109, Accounting for Income Taxes.

The objectives, qualitative traits, and other concepts that guide the selection of economic phenomena to be recognized and measured for financial reporting and their presentation in financial statements or related means of communicating information to those who are interested are set forth in the FASB  Statements with the intention of serving the public interest. The Board and its constituents can grasp the appropriate substance and inherent constraints of financial reporting thanks to concept statements, which also direct the Board in the development of good accounting standards. There are no generally recognized accounting principles established by a Statement of Financial Accounting Concepts.

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A food handler cannot find the ice scoop. What should the food handler do to be sure that customers are served safely

Answers

Answer:

use a spoon or find the scoop.

Explanation:

he can use a spoon instead and should not touch the other parts of spoon other then the handle.

In its first year (2021), Barsky Corporation made charitable contributions totaling $70,000. The corporation's taxable income before any charitable contribution deduction was $250,000. In its second year (2022), Barsky made charitable contributions of $15,000 and earned taxable income before the contribution deduction of $300,000.
Required:
Compute Barsky's allowable charitable contribution deduction and its final taxable income for its first year.
Compute Barsky's allowable charitable contribution deduction and its final taxable income for its second year.

Answers

As per IRS the corporation is entitled to deduct upto 10 percent of a corporation net taxable income without consideration of charitable contribution. Further IRS allows corporations to carryover the excess contribution to future years to set off.

So, allowable charitable contribution deduction and final taxable income for the Barsky corporation will be as follows.

Description Amount ($)

Ist Year  

Final Taxable Income (Taxable Income(300000) - allowable deduction(30000)) is 270000.

Taxable income before charitable contribution 250000

Charitable Contribution Limit (10%) 25000

Charitable Contribution 70000

Allowable Deduction 25000

Carryover deduction to next year 45000

Final Taxable Income (Taxable Income(250000) - allowable deduction(25000))

225000

2nd Year  

Taxable income before charitable contribution 300000

Charitable Contribution Limit (10%) 30000

Charitable Contribution 15000

Carry back Contribution from 1st Year 45000

Allowable Deduction 30000

Final Taxable Income (Taxable Income(300000) - allowable deduction(30000)) 270000

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TRUE/FALSE. if the fed increases the discount rate banks will borrow more reserves, make more loans, and the money supply will grow faster.

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If the federal reserve increases the discount rate banks will borrow more reserves, make more loans, and the money supply will grow fast. It is a false statement.

What happens when the discount rate  is increased?

The discount rate reduces future cash flows, hence the lower the present value of those future cash flows, the higher the discount rate. A larger present value results from a lower discount rate. This suggests that money in the future will be worth less than it is now when the discount rate is higher.

Depository institutions have less motivation to borrow when the discount rate is raised, which affects both the amount of reserves they hold and the volume of lending they do.

The appropriate response is false.

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casper and cecile divorced in 2018. as part of the divorce settlement, casper transferred stock to cecile. casper purchased the stock for $25,000, and it had a market value of $43,000 on the date of the transfer. cecile sold the stock for $40,000 a month after receiving it. in addition, casper is required to pay cecile $1,500 a month in alimony. he made five payments to her during the year.

Answers

Casper: Casper will need to report the stock transfer as a taxable event. He will need to report the $25,000 he paid to purchase the stock as a capital gain and the $40,000 he received from the sale as a capital loss. The capital loss will be used to offset any capital gains he may have realized in the same tax year. He will also need to report the alimony payments as taxable income on his tax return.

Cecile: Cecile will need to report the transfer of stock from Casper as capital gain income on her tax return. She will need to report the $40,000 she received from the sale of the stock as a capital gain, and the $25,000 she received from Casper as a capital gain. She will also need to report the alimony payments as income on her tax return.

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the following are selected transactions of tamarisk company. tamarisk sells in large quantities to other companies and also sells its product in a small retail outlet. prepare journal entries for the transactions above.

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March 1 Accounts receivable $13200 (debit)

March 15 Accounts receivable $1800 (debit)

March 31  Accounts receivable ($1800*1%) $18 (debit)

The term "accounts receivable," often known as "AR" or "A/R," refers to a company's legally enforceable claims for payment for items delivered or services provided that consumers have requested but haven't paid for. These typically take the form of invoices that a firm issues and sends to the client for payment within a predetermined time limit. In a balance sheet, accounts receivable are listed as an asset. This accounting transaction is one in a series that deals with charging a customer for the goods and services they have requested. These can be contrasted from notes receivable, which are liabilities created through formal legal documents known as promissory notes.

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among the reasons why financial transactions can fail to be carried out even when there are potential gains to both lenders and borrowers are (mark all correct answers):

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When applying a loan, Collateral can be beneficial to the borrower because:   (C). giving lenders protection against financial loss and more reason to approve loans

Loan is a type of obligation caused by a person because of receiving cash from an individual or association that will reimbursed inside an unequivocal period.

Guarantee can be characterized as any resource (model: vehicle, house, land and so on) that is presented by the borrower to the bank to get a credit.

It is vital on the grounds that the bank is gotten that assuming you cannot reimburse the credit he takes the resource.

All in all, while taking a credit, guarantee is significant.

Collateral is a thing of significant worth that a moneylender can seize from a borrower on the off chance that the person in question neglects to reimburse a credit as per the concurred terms. One normal model is the point at which you take out a home loan. Ordinarily, the bank will request that you give your home as insurance

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Complete Question is -
Collateral can be beneficial for borrowers when applying for a loan by

a. offering lenders additional financial gain if borrowers defaults on their loans

b. lessening the total loan amount, making it easier for borrowers to be approved

C. giving lenders protection against financial loss and more reason to approve loans

d. demonstrating that borrowers have ownership of high-end goods and can obviously make their

loan payments

Please select the best answer from the choices provided.

A

B

C

D

the year-end financial statements of collette inc. reported the following information (in thousands): year 2 year 1 cost of sales $1,441,527 $1,453,051 inventories, net 585,764 546,745 lifo reserve 4,345 4,094 the year 2 average days inventory outstanding is:

Answers

The average number of days inventory  outstanding is 143 days. It indicates that Collette Inc. will keep items on average 143 days before selling them.

Given that,

Opening inventory = 546,745

Closing inventory = 585,764

Cost of goods sold in 2016 = $1,441,527

Average inventory:

= (Opening inventory + Closing inventory) ÷ 2

= (546,745 + 585,764) ÷ 2

= 1,132,509 ÷ 2

= 566,254.5

So, Average inventory = 566,254.5

Therefore, the average days inventory outstanding is calculated by the following formula:

= Average inventory ÷ (COGS/365 days)

= 566,254.5 ÷ ($1,441,527/365)

= 566,254.5 ÷ 3949.3

= 143.38 days

Hence 2nd year average days inventory outstanding is 143 days.

A working capital management parameter called days inventory outstanding (DIO) calculates the typical period of time a company keeps inventory before turning it into sales.

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which of the following statements concerning disclosure requirements for derivatives used as cash flow hedges is/are correct? i. the net gain or loss recognized in earnings during the period must be disclosed. ii. the amount of gain or loss deferred in other comprehensive income must be disclosed. iii. a listing of each of the derivatives used for cash flow hedges and the amount of each must be disclosed. i only. i and ii only. i and iii only. i, ii, and iii.

Answers

I, II, and III. All three statements concerning disclosure requirements for derivatives used as cash flow hedges are correct.

The net gain or loss recognized in earnings during the period must be disclosed, as must the amount of gain or loss deferred in other comprehensive income. Additionally, a listing of each of the derivatives used for cash flow hedges and the amount of each must be disclosed.

A cash flow hedge entails using a hedging tool (a derivative) to lock in the amount of a future cash inflow or outflow that would otherwise be affected by market fluctuations.

For instance, the business could agree upon a forward contract with a different party to buy the steel. The forward contract then serves as a hedging instrument because your net payment will remain the same even if the price of steel increases.

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Reactive Industries has the following capital structure. Its corporate tax rate is 35%.
Security Market Value Required Rate of Return
Debt $20 Million 6%
Preferred stock $30 Million 8%
Common stock $50 Million 12%What is its WACC?

Answers

The value of WACC ( Weighted Average Cost of Capital ) is 9.18%.

What is WACC?

The weighted average cost of capital (WACC), which includes common stock, preferred stock, bonds, and other types of debt, is the average after-tax cost of capital for a company. The WACC is the typical interest rate that a business predicts paying to finance its assets.

WACC is a popular method for calculating the necessary rate of return (RRR)

After tax return for debt

=6(1-tax rate)

=6(1-0.35)=3.9%

Total value=(20+30+50)=$100million

WACC=Respective costs*Respective weights

=(20/100*3.9)+(30/100*8)+(50/100*12)

=(0.2*3.9)+(0.3*8)+(0.5*12)

which is equal to

=9.18%(Approx).

Therefore, based on the given values the value of WACC is 9.18%.

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a company reports the following at year end: net credit sales of $12,000; cost of goods sold $5,000; net income $2,000; average accounts receivable $2,500. accounts receivable turnover is calculated to be:

Answers

At year's end, a business reports net credit sales of $12,000, cost of goods sold of $5,000, net income of $2,000, and average accounts receivable of $2,500. The calculated accounts receivable turnover is 8.

Receivable turnover ratio = Net credit sales for the year / Average accounts receivable Net credit sales Average accounts receivable $120,000 $15,000 Receivable turnover ratio (times) 8.0 [$120000 / $15000]

Accounts receivable (AR) is the remaining amount owed to a business for goods or services that have been delivered or consumed but have not yet been paid for by clients. The balance sheet classifies accounts receivable as a current asset. Customers' unpaid debt for goods they made with credit is referred to as AR.

The term "accounts receivable" refers to any unpaid bills or cash that a business is owed by customers. The word refers to accounts that a company is entitled to get as a result of delivering a good or service. Accounts receivable, also known as receivables, are a type of line of credit that a business extends to its customers, and its terms typically call for payments to be made within a short time frame.

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the fair labor standards act requires that a minimum wage of a specified amount be paid to all employees in all industries.

Answers

The statement 'the fair labor standards act requires that a minimum wage of a specified amount be paid to all employees in all industries' is true.

In the field of business, the fair labor standard act can be described as an act that was formulated inorder to give basic rights to laborers.

Before the fair labor standards act, the laborers were given a very small amount for the hard work that they did.

Hence, the fair labor standard act came up with a policy under which a minimum wage of a specific amount was set and no employee could be paid an amount less than this specified minimum wage. Hence, the statement above is true.

The question can correctly be written as:

The fair labor standards act requires that a minimum wage of a specified amount be paid to all employees in all industries. true or false

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which of the following diagrams shows what would happen to a company's demand curve after an effective advertising campaign?

Answers

Advertising influences consumer tastes and preferences, alters product attributes, and differentiates products from competing products. The curve shifts to the right if the determinant causes demand to increase.

What is consumer?Consumers refer to the people who buy goods and services to meet their needs. When you eat  dinner, you become a consumer. I am hungry and eating rice fills me up. You become a food consumer. You who go to school are also consumers. A consumer is a person who acquires a product for their own use and uses or consumes it. Consumers cannot resell goods, products, or services, but they can consume them to earn a living and run a self-employed business. Consumers are the end users of goods and services.  A person who purchases a product or service  for  personal use rather than manufacturing or reselling it is called a consumer. A consumer is someone who decides whether  to purchase a product in a store or  who is influenced by advertising and marketing.

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proceeds from an issue of debt securities having stock purchase warrants should not be allocated between debt and equity features when group of answer choices exercise of the warrants within the next few fiscal periods seems remote. the market value of the warrants is not readily available. the warrants issued with the debt securities are non-detachable. the allocation would result in a discount on the debt security.

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Proceeds from an issue of debt securities having stock purchase warrants should not be allocated between debt and equity features when the warrants issued with the debt securities are nondetachable.

The proceeds from the sale of debt with some detachable stock warrants should be allocated between there are the two securities which are said to be based on the aggregate fair market value of the bonds and also the warrants. Thus, it is allocated between the debt and equity features

However, issuing warrants tend to provide the company with a future source of capital. Also, a warrant may be issued as a way of preserving goodwill from shareholders.

Hence, a stock warrant is an employer-issued contract.

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Which of the following statements is CORRECT?
a. In general, a firm with low operating leverage also has a small proportion of its total costs in the form of fixed costs.
b. There is no reason to think that changes in the personal tax rate would affect firms' capital structure decisions.
c. A firm with high business risk is more likely to increase its use of financial leverage than a firm with low business risk, assuming all else equal.
d. If a firm's after-tax cost of equity exceeds its after-tax cost of debt, it can always reduce its WACC by increasing its use of debt.
e. Suppose a firm has less than its optimal amount of debt. Increasing its use of debt to the point where it is at its optimal capital structure will decrease the costs of both debt and equity financing.

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Among the following options in the given answer, option a is correct: In general, a firm with low operating leverage also has a small proportion of its total costs in the form of fixed costs.

A business with low operating leverage incurs a high percentage of variable costs, which results in a lower profit margin on each sale but less need for sales growth to offset its lower fixed costs.

In general, strong operating leverage is preferable to low operating leverage since it enables enterprises to make significant profits on every additional sale. However, businesses with minimal operating leverage could find it simpler to turn a profit when coping with reduced sales levels.

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A firm could continue to operate for years without ever earning a profit as long as it is producing an output where
MR < ATC.
ATC > AVC.
MR > AVC.
AFC < AVC.

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A firm could continue to operate for years without ever earning a profit as long as it is producing an output where MR > AVC. Therefore, second option is the correct answer.

The additional money made from the sale of one more unit of output is referred to as marginal revenue. The law of diminishing returns dictates that marginal revenue will eventually begin to decline as output level rises, even though it can remain constant above a certain threshold of output. According to economic theory, businesses that are completely competitive keep on producing goods until marginal revenue and marginal cost are equal.

For each extra unit sold, a company's revenue is multiplied by its margin, which is calculated using financial and economic principles. A company's marginal revenue frequently varies depending on how many units it has already sold because the price of a good is frequently connected to market supply and demand.

In the given question, when a firm's output is at the level that maximises profits but where marginal revenue is higher than average variable costs but lower than average total costs, the firm should keep producing at the level where marginal revenue equals marginal costs. Therefore, MR > AVC.

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a flatter sras curve would make the phillips curve , indicating a short-run increase in inflation following an expansionary monetary and/or fiscal policy. t/f

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It reveals that there is no relationship between the price level and real GDP. This could occur in a recession or depression when there are a lot of resources without jobs or when prices stay the same.

What results in a flatter Phillips curve?

The output gap becomes less volatile and less correlated with the output deviation when prices become more flexible, which is why the statistical Phillips curve flattens in this situation. Consequently, the output deviation and inflation, which are both directly related to the output gap, become less correlated.

When inflation rises, how does the Phillips curve change?

According to the Phillips curve, unemployment and inflation are inversely related. There is a correlation between lower unemployment and higher inflation, and vice versa.

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