Last year, J&H Corp. reported a book value of exist700 million in current assets, of which 15% is cash, 17% is short-term Investments, and the rest is accounts receivable and inventory. The company reported exist595.0 million of current liabilities including accounts payable and accruals. Interestingly, the company had no notes payable Claims last year. There were no changes in the accounts payables during the reporting period. The company, however, invested heavily in plant and equipment to support its operations. It reported a book value of exist1, 120 million in long-term assets last year. Based on the information given to Jeffrey, he submits a report on January 1 with some important calculations for management to use, both for analysis and to devise an action plan. Which of the following statements in his report are true? Check all that apply. a) J&H Corp.'s total net operating capital consists of its net operating working capital and total investment in long-term assets. b) The company has no notes payable reported in its balance sheet, so all its current liabilities are its operating liabilities. c) Based on the information on industry averages, J&H Corp. would generate higher profits than the other players in the industry if all players had no debt or held no financial assets. d) The company is using -exist14.0 million in net operating working capital acquired by investor-supplied funds. e) Based on the information on industry averages, other players in the industry would generate higher profits than J&H Corp. if they had no debt and held no financial assets.
Answers
Complete Question
The complete question is shown on the first uploaded image
Answer:
The correct stalemates are
The company is using -$14 million in net operating working capital
acquired by investor supplied funds.
Based on the information on industry averages , other players in the industry
would generate higher profits than J&H Corp , if they had no debt and
held no financial assets
Explanation:
The calculation is shown on the second and third uploaded image
Related Questions
Determine the total assets of Novak Corp. at December 31, 2020.
Presented below is selected information related to Novak Corp.
Accounts Payable $4,440 Salaries and Wages Expense $24,420
Cash 13,320 Notes Payable 37,000
Advertising Expense 8,880 Rent Expense 14,504
Service Revenue 79,920 Accounts Receivable 19,980
Equipment 42,920 Dividends 11,100
Answers
Answer: $76,220
Explanation:
Total Assets = Current Assets + Fixed Assets
Current Assets = Cash + Accounts Receivable
= 13,320 + 19,980
= $33,300
Fixed Assets = Equipment = $42,920
Total Assets = 33,300 + 42,920
= $76,220
Deon is VP of marketing with a major beverage company and is reviewing the contracts of several film, media, and television personalities who work with the company. Recently, two of them were involved in controversial activities concerning their political beliefs and have been quite vocal regarding several social justice issues. Deon is considering canceling their contracts because it is difficult to establish that their personal views are not the views of his company. Which exchange criteria most directly relates to Deon's cancellation of these sponsorships
Answers
Question Completion:
Options:
a. There must be at least two parties.
b. Each party is free to accept or reject the exchange offer.
c. Each party believes it is appropriate or desirable to deal with the other party.
d. Each party has something that might be of value to the other party.
Answer:
c. Each party believes it is appropriate or desirable to deal with the other party.
Explanation:
Criteria C is the criteria that will most directly relate to Deon's cancellation of the sponsorships. Business deals and relationships cannot be established or allowed to subsist when it becomes inappropriate or undesirable to deal with the other party because of controversial activities. This is more so when the activities involve political and social justice beliefs and differences. Ordinarily, business partners should not allow such personal prejudices to becloud their relationships. The best approach, therefore, is for business partners to keep their political and social justice beliefs personal and not make them public issues.
A team of analysts at Amazon is researching the viability of producing a smart watch. How might they estimate potential demand for their smart watch?
a. Consider the four-step process that many companies follow to estimate the market demand curve for their product. Place the steps in order, with the first step in the highest position and the last step in the lowest position.
survey customers
plot the demand curve
scale up the quantities demanded by the survey respondents
add up the total quantity demanded by the customers at each price point
b. Select two factors that the analysts want to keep in mind to create the most accurate demand estimates.
cost of inputs to production
information about climate change
existing competition in the market
consumer demographic information
Answers
Answer:
1. In order to estimate demand the analysts should;
Survey customersAdd up the total quantity demanded by the customers at each price pointScale up the quantities demanded by the survey respondents.Plot the demand curveWhen the analysts go into the market to research, they should start by surveying a sample of customers. They can then add up the quantity that was demanded by the customers at each price point to find out the total demand.
They should then scale up these results to see what the total market demand is. Then finally they should then use the scaled up data to construct a demand curve.
b. Two important factors
existing competition in the market - when creating demand estimates the analysts should keep in mind that they may have competition who are already selling their product. Their demand analysis should take into account factors like the people who have already bought the product and might no longer needing it or the price that the other competitors are selling at.consumer demographic information - demand also depends on demographic factors such as age and economic class. Some products are not very well used by the older generation such as smart watches so the researchers need to ensure that they have the right age groups. The watch might also cost an amount that some people cannot afford so this must be taken into account as well.Please help me in this assignment. Assume a project, other than your assignment, such as real estate, infrastructure development, industrial, or software development etc. and discuss that how guiding principle of PMI Standards for project risk management life cycle shall be undertaken at the organizational level of that particularly identified project (what the organization needs to do).
Answers
Answer:
DOES THIS HELP
Explanation
Many different professions contribute to the theory and practice of project management. Engineers and architects have been managing major projects since pre-history. Since approximately the 1960s, there have been efforts to professionalize the practice of project management as a specialization of its own. There are many active debates around this: Should project management be a profession in the same way as engineering, accounting, and medicine? These have professional associations that certify who is legally allowed to use the job title, and who can legally practice the profession. They also provide a level of assurance of quality and discipline members who behave inappropriately.
Uncollectible accounts; allowance method estimating bad debts as percentage of net sales vs. direct write-off method [LO7-5, 7-6) Ervin Company uses the allowance method to account for uncollectible accounts receivable. Bad debt expense is established as a percentage of credit sales. For 2021, net credit sales totaled $6,500,000, and the estimated bad debt percentage is 1.50%. No previously written-off accounts receivable were reinstated during 2021. The allowance for uncollectible accounts had a credit balance of $62,000 at the beginning of 2021 and $50,000, after adjusting entries, at the end of 2021. Required: 1. What is bad debt expense for 2021 as a percent of net credit sales? 2. Assume Ervin makes no other adjustment of bad debt expense during 2021. Determine the amount of accounts receivable written off during 2021. 3. If the company uses the direct write-off method, what would bad debt expense be for 2021? 1. Bad debt expense $97,5002. Accounts receivable written off $15,0003. Bad debt expense $98,430
Answers
Answer:
1. Bad debt expense = $97,500
2. Accounts receivable written off = $109,500
3. Bad debt expense for 2021 = $109,500
Explanation:
Bad debts expense refers to an uncollectible accounts expense that occurs because goods or services are delivered on credit a company to a customer who did not paid the amount owed.
The questions can be answered as follows:
1. What is bad debt expense for 2021 as a percent of net credit sales?
Under this, bad debt can be calculated using the following formula:
Bad expense = Net credit sales * Estimated bad debt percentage ....... (1)
Where;
Net credit sales = $6,500,000
Estimated bad debt percentage = 1.50%
Substituting the values into equation (1), we have:
Bad debt expense = $6,500,000 * 1.50% = $97,500
2. Assume Ervin makes no other adjustment of bad debt expense during 2021. Determine the amount of accounts receivable written off during 2021.
This can be calculated using the following formula:
Accounts receivable written off = Beginning uncollectible balance + Bad debt expenses - Ending uncollectible balance ............ (2)
Where;
Beginning uncollectible balance = $62,000
Bad debt expenses = $97,500
Ending uncollectible balance = $50,000
Substituting the values into equation (2), we have:
Accounts receivable written off during 2021 = $62,000 + $97,500 - $50,000 = $109,500
3. If the company uses the direct write-off method, what would bad debt expense be for 2021?
Under the direct write-off method, the exact amount of uncollectible accounts as they are specifically identified are recorded.
Based on this explanation, bad debt expense for 2021 is equal to the accounts receivable written off during 2021 calculated in part 2 above. Therefore, we have:
Bad debt expense for 2021 = $109,500
The following transactions were completed by the company.A. The company completed consulting work for a client and immediately collected $6,200 cash earned.B. The company completed commission work for a client and sent a bill for $4,700 to be received within 30 days.C. The company paid an assistant $1,750 cash as wages for the period.D. The company collected $2,350 cash as a partial payment for the amount owed by the client in transaction b.E. The company paid $840 cash for this period's cleaning services.Required:Record the impact of each transaction on individual items of the accounting equation.Assets = Liabilities + Stockholders' EquityCash + Accounts = Accounts + Common - Dividends + Revenues - Expenses Receivable payable Stocka. 6,200 6,200b. 4,700 4,700Bal. 6,200 4,700 10,900 c. 1,750Bal. 6,200 4,700 10,900 1,750d.Bal. 6,200 4,700 10,900 1,750e. Bal. 6,200 4,700 10,900 1,750
Answers
Answer:
Since there is not enough room here I used an excel spreadsheet
Services constitute the bulk of most countries' production and marketing efforts.A. TrueB. False
Answers
Answer:
B. False
Explanation:
Physical goods, not services, constitute the bulk of most countries' production and marketing efforts. Even though services represent a higher percentage of GDP than manufacturing, many of these services are directly related to manufacturing goods. E.g. grocery stores are considered services, but they sell physical products. Amazon is the largest retailer in the world and its considered a service, but most of its operations involve physical products. Without physical products, many services would not exist since they complement each other.
What do you learn in business writing class?
Answers
Answer:
Explanation:
There are a variety of sub categories/goals that you will learn in business writing class and they are the following
Learning to effectively write emails, letters, memos, reports. Learning to logically, efficiently, and effectively organize your gathered information and ideas.Learning how to correctly identify and choose the appropriate communication strategy, format, style, and content for the specific scenario. Learning to correctly identify any and all grammatical and punctuation problems within your writing.Which source of law takes priority in the following situations, and why?a) A federal statute conflicts with the U.S. constitution.b) A federal statute conflicts with a state constitutional provision.c) A state statute conflicts with the common law of that state.d) A state constitutional amendment conflicts with the U.S. constitution.
Answers
Answer:
Kindly check explanation
Explanation:
In the United States, the Supreme law of the country which takes precedence over all laws be it federal, state, or common laws. Hence, In terms of hierarchical arrangement, the U.S constitution is first, then, federal statutes, then state statutes, then common law.
A) A federal statute conflicts with the U.S. constitution., The U. S constitution will subdue the stance of the federal statute as it is the Supreme law.
b) A federal statute conflicts with a state constitutional provision.
Here, in order of hierarchy, the federal statutes take priority above the state as the state provision are behind the federal laws and will almost always conform to the provision of the United States constitution.
C.) A state statute conflicts with the common law of that state.
A state statute will take priority over the common law as statites are always prioritized ahead of common laws.
d) A state constitutional amendment conflicts with the U.S. constitution.
The U. S Constitution takes precedence and is hence prioritized above the state constitution as it is the Supreme law of the land.
913,256Write the digit in the ten thousands place
Answers
Answer:1
Explanation:
9= is the hundred thousands digit
1= is the ten thousand digit
3=is the thousands digit
2= is the hundreds digit
5= is the tens digit
6= is the ones digit
Accountants focus on creating financial statements, whereas finance professionals mostly use these statements to evaluate a firm and answer questions about its performance. Indicate which financial statement would be the most helpful in answering the questions in the following table.
Balance Sheet
Statement of Cash Flows
How much cash is a firm generating through operating, investing, and financing activities?
How much debt and equity has the firm issued to finance its assets?
If compensation for senior management is based on short-term performance of the firm, in the short run the firm is likely to:_________.
Overstate its earnings
Understate its earnings
Answers
Answer:
How much debt and equity has the firm issued to finance its assets?
Balance Sheet
How much cash is a firm generating through operating, investing, and financing activities?
Statement of Cash Flows
If compensation for senior management is based on short-term performance of the firm, in the short run the firm is likely to:_________.
Overstate its earnings
Explanation:
The statement of cash flows in the financial statements prepared by the accountant shows outgoing and incoming cash for the period and also the cash balance . Balance sheet also called statement of financial position reflects or shows the assets and liabilities of the company which are broken down to equities and debts in classifying capital sources
Senior management can overstate earnings if company's performance in the short-run is the basis for their earnings. This is because long-term performance of company is not considered and short run earnings of company is characterized by short-sightedness, inflated figures and inconsistencies in performance to maximize earnings
You have been hired by a new organic juice company to run its digital marketing program for its product. One of the first initiatives you tackle is the firm’s inbound marketing program. Which of the following tools would NOT be included as part of your inbound marketing program?
A. A weekly podcast on organic produce hosted by the company’s founder
B. Creating paid search advertisements that are very good at gaining consumer attention
C. A blog written by the CEO discussing the company’s special events and plans for new flavors
D. A search engine optimization (SEO) program headed by you, the marketer
E. Optimizing landing pages that are the first company web pages that consumers see after clicking on a search result
Answers
Answer:
C. A blog written by the CEO discussing the company’s special events and plans for new flavors
Explanation:
Inbound marketing program is a special program whereby a business methodology is applied to a product through tailored rich contents and experiences directed towards them. It is done to attract customers. Unfortunately, Option C happens not to be part of an imbound marketing program directed towards the digital marketing of the orange juice company's products.
Answer:
The correct answer is E
Explanation:
An inbound marketing program is simply a marketing technique you pull off to enable your customers to see you, your company and your product with the goal (of course) to initiate and close a sale.
Inbound marketing campaigns are designed to create brand visibility and increase affinity for one's products and services.
All the other options are very related to getting consumer attention. Option E is an activity without any real potential to attract customers attention. By the time customers get to the landing page, the objective of the inbound marketing strategy has been achieved.
Cheers!
According to the possible trade-off example between warships and drinking water in the text, the policy question that should be considered in Malaysia is do the benefits of the warships exceed their opportunity costs? do the nominal costs of the warships exceed their real costs? do the opportunity costs of the warships exceed their nominal costs? do the real costs of the warships exceed their nominal costs?
Answers
Answer:
Explanation:
I will start by explaining the question, although it's incomplete.
This is Economics, first of all. The Malaysian government needs to or wants to spend on some goods. Since the law of Economics states that human needs always exceed the available resources to cater for them all at once; the Malaysian government is in a state of 'choice'!
Choice involves catering for certain needs at one time, while leaving the others undone. So the two goods here are war ships and drinking water.
The Malaysian government economic policy makers are trying to check the benefits and possible effects of trading the provision of drinking water for the purchase of war ships. I suppose they're tending towards the purchase of war ships because presently, there is war or insecurity in the land. If this be the case, the nominal costs, opportunity costs, and real costs of spending more on war ships than on drinking water, should be examined.
Opportunity cost is the cost of the forgone alternative; which is drinking water in this case. Will more people (citizens) die if there are no new war ships provided at this time OR will more people (citizens) die if there is no extra provision of drinking water at this time? This is the summary of all the questions in the question text above!
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Which office do you contact to pay your bill at the University of the Cumberlands?
Answers
Answer:
Bursar Office or Admin Office
Explanation:
The Bursar is the person who is assigned the task to manage the financial affairs of the university. So it is better that you visit bursar office so that he can better guide you about the payment process because every university follow different procedures. It is also possible that the bursar's office might not be named as Bursar Office, it may be named as "Admin Office" or "Accounts Office".
A company that desires to lower its break-even point should strive to:_______a. decrease selling prices. b. reduce variable costs. c. increase fixed costs. d. sell more units. e. purchase more than one of the above actions
Answers
Answer:
b. reduce variable costs.
Explanation:
The break even point is the point in which the company has no loss or no profit
It shows a relation between the fixed cost and the contribution margin per unit
where,
Contribution margin per unit is
= Selling price per unit - variable expense per unit
In case to lower the break even point we should decrease the variable cost as the fixed cost and the selling price would remain the same
hence, the correct option is B.
Yuri wants to pay for his new chair using a check. What must he consider before using that method of payment?
Yuri must check his credit history.
Yuri must know the interest rate on a furniture loan.
Yuri must be sure he has enough left in his checking account for any expenses and automatic payments.
Yuri must check his credit card balance.
Answers
Answer:
I think....... the answer is c...
Hope it helps
Before using a check as a method of payment for his new chair, Yuri must consider several factors to ensure a smooth transaction. Hence option D is correct.
What must he consider before using that method of payment?First and foremost, he should verify that the merchant accepts checks as a form of payment. Additionally, he should confirm that he has enough money in his checking account to cover the cost of the chair and any other expenses or automatic payments that may come due soon.
It's also important for Yuri to ensure that he writes the check properly, including the correct date, payee name, and amount in both numerical and written form. Failure to do so could result in the check being rejected or delayed, which could cause problems for both Yuri and the merchant.
If Yuri has a history of bounced checks or insufficient funds in his account, he may want to consider alternative payment methods or take steps to improve his financial situation before attempting to pay with a check.
It's also a good idea for Yuri to keep track of his checkbook balance and reconcile it regularly to avoid any surprises or overdraft fees.
Overall, paying with a check can be a convenient and secure way to make purchases, but it's important for Yuri to be mindful of these considerations to ensure a successful transaction.
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Mario Batali specializes in Southwestern cuisine. true or falsue
Answers
Answer:
false
Explanation:
Maria Batali, a widely known American chef, who is popular through his television cooking shows, and once co-owned many restaurants in the United States of America. His cooking style is considered to be ITALIAN, having had experiences in Italy during his apprenticeship days.
Hence, the correct answer is that it is FALSE that Mario Batali specializes in Southwestern cuisine.
What is an Unlimited Liability?
Answers
Answer:
An unlimited liability corporation is a Canadian corporation designation, wherein shareholders are liable up to unlimited amounts for any liability, act or default of the corporation. By comparison, in most corporations, shareholders are not usually liable due to a limited liability model.
Explanation:
Paw Locker has the highest Return on Assets in its comparison group. Which of the following could be a secret to its success?
(select all that apply)
(Hint: look carefully at the definition of ROA to find only the items that will affect the ratio)
Company
Return on Equity
Return on Assets
Financial Leverage
Return on Sales
Asset Turnover
Dog Nation
0.177
0.060
3.740
0.026
2.338
Dog Shoe Warehouse
0.178
0.119
1.501
0.065
1.828
Hound Smart
0.177
0.112
1.762
0.03
2.930
Paw Locker
0.177
0.126
1.430
0.065
1.927
Pooch Mart
0.177
0.111
1.639
0.057
1.938
a. Able to charge a higher price than Pooch Mart
b. Holds lower inventory levels than Dog Shoe Warehouse
c. Uses more equity financing than Dog Nation
d. Pays less interest expense than Pooch Mart
e. Uses less debt financing than Hound Smart
Answers
Answer:
Paw Locker
The secret to its success include:
c. Uses more equity financing than Dog Nation
d. Pays less interest expense than Pooch Mart
e. Uses less debt financing than Hound Smart
Explanation:
a) Data and Calculations:
Company Dog Shoe Hound Paw Pooch
Warehouse Smart Locker Mart
Return on Equity 0.177 0.178 0.177 0.177 0.177
Return on Assets 0.060 0.119 0.112 0.126 0.111
Financial Leverage 3.740 1.501 1.762 1.430 1.639
Return on Sales 0.026 0.065 0.03 0.065 0.057
Asset Turnover 2.338 1.828 2.93 1.927 1.938
b) Paw Locker's Return on assets (ROA) indicates how profitable it is relative to its total assets. Its ROA gives a manager, investor, or analyst an idea as to how efficient the Paw Locker's management is at using the company's assets to generate earnings. As a percentage, Paw Locker's Return on assets is 12.6% and is better than the other companies' ROAs.
The ratio analysis is the analytical tool that helps in measuring the difference or the relation between two different variables of two same or different financial statements. It helps in taking business and investment decisions by the managers and helps investors for better comparison.
The secret to the success of Paw Locker may include:
c. Uses more equity financing than Dog Nation
d. Pays less interest expense than Pooch Mart
e. Uses less debt financing than Hound Smart
The ROA measures the capability of the business to earn profits from the total assets held. The ROA of the company or the business helps the managers, investors, or analysts to get an idea about the efficiency of the assets of the company.
In the given case the ROA of Law Lockers is 12.6%. When it is compared to other companies the ROA of Paw Lockers is higher. This shows that the company is efficiently using its assets to generate revenues.
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Isabella works on a team of one attorney, three
paralegals, and two secretaries. They defend product liability cases brought against their employer, a
medical-device manufacturer.
Answers
Answer: Corporation
Explanation:
Paralegals are what you would call legal assistants. Even though they are not called to the bar, they posses legal knowledge that helps them give support to lawyers, corporations, and even Governmental agencies.
As shown from the definition, paralegals can work for various types of employers including lawyers, corporations, Government agencies and sometimes even courts if they freelance. In this scenario, Isabella works for a medical-device manufacturer and so Isabella's employer is a Corporation.
Tootsie Roll Industries is engaged in the manufacture and sale of candy. Major products include Tootsie Roll. Tootsie Roll Pops, Tootsie Pop Drops, Tootsie Flavor Rolls, Charms, and Blow-Pop lollipops. The following items were listed on Tootsie Roll s recent income statement and balance sheet. Mark each item from the balance sheet as an asset (A), liability (L), or shareholders equity (SE) item and mark each item from the income statement as a revenue (R) or expense (E) item.
(1) Bank loans
(2) Selling, marketing, and administrative expenses
(3) Accounts payable
(4) Dividends payable
(5) Retained earnings
(6) Cash and cash equivalents
(7) Accounts receivable
(8) Provision for income taxes
(9) Product cost of goods sold
(10) Machinery and equipment
(11) Net product sales
(12) Inventories
(13) Trademarks
(14) Buildings
(15) Land
(16) Income taxes payable
(17) Rental and royalty costs
(18) Investments (in other companies)
Answers
Answer and Explanation:
The categorization is shown below:
1, liability (L) credit balance
2. expense (E) debit balance
3. liability (L) credit balance
4. liability (L) credit balance
5. shareholders equity (SE) item credit balance
6. asset (A) debit balance
7. asset (A) debit balance
8. liability (L) credit balance
9 expense (E) debit balance
10 asset (A) debit balance
11 revenue (R) credit balance
12 asset (A) debit balance
13 asset (A) debit balance
14 asset (A) debit balance
15 asset (A) debit balance
16 liability (L) credit balance
17 expense (E) debit balance
18. asset (A) debit balance
Choose and describe a business that you would expect to have highly liquid assets and share a photo of that business (or company logo). Which specific assets are highly liquid and why do you think that?
Answers
Answer:
I have chosen Apple Inc.
Explanation:
Apple Inc is a tech giant and manufactures innovative and most differentiated telecommunication products, music products, computer products, application services, etc which is highly valued among its customers. That's the reason why Apple is one of the most highly valued company in the world with almost $137 billion cash balance. This cash balance has been increased by $20 billion in the last three years which shows its higher profitability and that its inventory is highly liquid asset because it is quickly converted into cash. Furthermore, the greater demand of product and customer loyalty has strengthen its position all because of unmatched innovation introduced in each of its product every year. The greater cash balance shows that the company has greater sales and has higher profit margin on its unmatched product.
The picture of Apple headquarter and of its logo are given below:
As input for a presentation that you are jointly authoring, one of your marketing analysts submitted the following summary of the characteristics of the four different types of market structures companies compete in: Competitive Structure Number of Competitors Market Barriers to Entry Monopolistic Competition Unlimited No Barriers Monopoly Few Some Barriers Pure Competition Many Few Barriers Oligopoly One Many Barriers With respect to the classifications of number of competitors and barriers to entry, which one of the following statements is correct? a. The monopolistic competition structure is properly classified. b. The pure competition and oligopoly structures are properly classified. c. The oligopoly structure is properly classified. d. The monopoly structure is properly classified. e. The monopoly and oligopoly structures’ classifications should be reversed.
Answers
Answer:
a. The monopolistic competition structure is properly classified.
Explanation:
A perfect competition is characterized by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.
In the long run, firms earn zero economic profit. If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.
Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.
A monopolistic competition is when there are many firms selling differentiated products in an industry. There are no barriers to entry or exit of firms. A monopoly has characteristics of both a monopoly and a perfect competition. the demand curve is downward sloping. it sets the price for its goods and services.
An example of monopolistic competition are restaurants
A monopoly is when there is only one firm operating in an industry. there are usually high / many barriers to entry of firms. the demand curve is downward sloping. it sets the price for its goods and services.
An example of a monopoly is a utility company
An Oligopoly is when there are few large firms operating in an industry. While, a monopoly is when there is only one firm operating in an industry.
Oligopolies are characterised by:
price setting firms product differentiation profit maximisation high barriers to entry or exit of firms downward sloping demand curve
Paci Restaurants accepts credit and debit cards as forms of payment. Assume Paci had $14, 000 of credit and debit card sales on April 30, 2015.1. Suppose Paci's processor charges a 3% fee and deposits sales net of the fee. Journalize the sale transaction for the restaurant. 2. Suppose Paci's processor charges a 3% fee and deposits sales using the gross method. Journalize the sale transaction for the restaurant.
Answers
Answer:
1) assuming that the credit card company's payments are immediate (1 business day)
April 30,2015, net credit and debit card sales
Dr Cash 13,580
Cr Sales revenue 13,580
2) assuming that the credit card company's payments are immediate (1 business day)
April 30,2015, gross credit and debit card sales
Dr Cash 13,580
Dr Credit card fees 420
Cr Sales revenue 14,000
Suppose the exchange rate for the swiss franc is quoted as SF 1.10 in the spot market and SF 1.13 in the 90-day forward market. Does the financial market expect the franc to strengthen or weaken relative to the dollar?
Answers
Answer:
The franc is expected to depreciate relative to the dollar, because it will take more francs to buy one dollar in the future than it does today.
Explanation:
Here it is mentioned that
Swiss Franc is quoted SF 1.10 in the spot market
SF 1.13 in 90 days forward market
Based on the above information
Here the franc approximate that it would be depreciation with respect to the dollar as it considered more francs to purchased in near future as compared with today
Therefore the same is to be considered
SCENARIO:
Marcus, feeling stressed out from work, decided to search for a meditation app for his phone that would help him relax during the day. One app, CalmDown, appeared to be promising. It didn't have any reviews yet and looked to be a brand-new app, so he decided to try it out. He downloaded the app to his phone and opened it up. The first screen required he enter in his name and email address. At the very bottom of the screen it had some small writing, but Marcus didn't notice it and hit the continue button.
Had Marcus clicked on the link at the bottom of the screen, he would have seen the following:
The second screen stated "Three-day trial version- Free! $59.99 annual fee thereafter." Marcus was annoyed that the app would cost him almost $60 but figured he would set a reminder on his phone to cancel the app before the trial period expired so he wouldn't get charged. Plus, he wanted to see the app in action. If it was actually worth the price, he wouldn't mind paying the annual fee. He clicked "Continue" and put in his bank card information on the next screen. The following screen asked Marcus a series of questions about his stress level and what he felt caused stress in his life. He clicked "high" and "work" as the level and cause. He then completed the first CalmDown meditation in the app, but was not impressed with its functionality. Deciding he would cancel his subscription immediately, he went into the profile settings to try to find the cancel option but couldn't. He searched every possible place on the app but didn't see a way to cancel the subscription. Marcus decided to try to find the app's developer through their website, but a quick search didn't turn up anything. Already stressed and becoming more frustrated, Marcus decided to contact the app store. They informed him that he should be able to go into his app store account and cancel the subscription there. However, when Marcus went there, he didn't see the app as an option or as a subscription. Thinking that maybe his subscription didn't process, he just deleted the app from his phone.
Marcus didn't give the app or the subscription any more thought, becoming increasingly more distracted by the amount of stress at work. Four months later, Marcus was looking at his bank account online and noticed it was lower than it should have been. He began reviewing the charges and noticed multiple charges for $59.99 to a merchant named "CDgotU." He immediately remembered the app and contacted his bank to dispute the charges. His bank replied that due to the charges being debit withdraws he needed to dispute them within 2 days of being made. Moreover, if he had been diligent about watching his account, they could have put a block on the account and the remaining fraudulent charges would have been prevented. The bank representative also told him that he should try to get a refund from the company that charged him. After making his case with the bank representative for several hours about how he tried to cancel his subscription, he was unsuccessful. The bank's representative was able to provide Marcus a phone number attached to the Merchant account, but when Marcus called the number it was disconnected. The bank could not provide him with any additional information such as a company address or website.
After more internet searching, Marcus saw a number of other complaints online about the app, and noticed it had been removed from the app store and was no longer available for download. Marcus decided to bring an action against the company for fraud, breach of contract, conversion, and several other claims in his home state of Vermont.
Can Marcus compel the bank or the app store to provide additional information about the creator of CalmDown in order to determine the creator's location and potential assets?
a. No, these records are not subject to being subpoenaed due to their confidential nature.
b. Yes, he can subpoena records during the discovery process from both, but the bank and the app store may ask the judge to deny the request or limit the request due to privacy concerns.
c. Yes, but he must subpoena these records prior to the filing of the complaint.
d. Yes, he can file interrogatories during the discovery process to both the bank and the app store.
Answers
Answer: b. Yes, he can subpoena records during the discovery process from both, but the bank and the app store may ask the judge to deny the request or limit the request due to privacy concerns.
Explanation:
Marcus can indeed compel the bank or the app store to provide additional information about the creator of the app should he wish to find out the creator's location and its potential assets so he can purse the case appropriately legal wise.
He can do this by subpoenaing the required information when laying the background for the suit. As this information is considered private and confidential however, both the bank and the store could appeal to the Judge to refuse Marcus's request on the grounds of privacy concerns.
Answer:
the anser is B
Explanation:
Develop an estimate for each of the following situations:_________. a. The cost of a 500-mile automobile trip, if gasoline is $3 per gallon, vehicle wear and tear is $0.50 per mile and our vehicle gets 20 miles per gallon.b. The total number of hours in the average human life, if the average life is 75 years.
Answers
Answer:
A.$325
B.657000 hours
Explanation:
We can calculate the cost of a 500-mile automobile trip by adding the cost of gasoline burnt and the cost of wear and tear during the trip. Total number of hours of 75 years old can be calculated by multiplying the number of hours in a day with the total number of days in a year.
DATA
Gasoline per gallon = $3
Vehicle wear and tear = $0.50/mile
Miles per gallon = 20 miles
Hours in a day = 24hours
Days in a year = 365
Number of years = 75
Requirement A
Cost of a 500 mile automobile trip = Cost of gasoline + Cost of vehicle wear ]
Cost of a 500 mile automobile trip = $75 + $250 = $325
Working
Cost of gasoline = (500 miles / 20 miles) * $3 per gallon = $75 Cost of vehicle wear and tear = 500 miles * $0.50 per mile = $250
Requirement A
Total number of hours in 75 years of human life = Life in years x Number of days in a year x Number of hours in a day
Total number of hours in 75 years of human life = 75 years * 365 days * 24 hours = 657000 hours
A payment of a portion of an accounts payable will:_______A) decrease net income. B) not affect stockholders' equity. C) not affect total assets. D) increase liabilities.
Answers
Answer: B) not affect stockholders' equity.
Explanation:
When an accounts payable is paid off, this represents a reduction in liabilities as well as a reduction in assets ( the cash used to pay). The company's equity will not be affected in any way.
This is proven by the accounting equation which shows that assets are equal to equity plus liabilities. If both liabilities and assets reduce by the same amount, the equity will have to remain unaffected for the formula to stand.
A formal budget program will almost always result in:
a. higher sales.
b. more cash inflows than cash outflows.
c. decreased expenses.
d. improved profits.
e. a detailed plan against which actual results can be compared.
Answers
Answer:
e. a detailed plan against which actual results can be compared.
Explanation:
A formal budget is a budget that should be planned to accomplish some goals that are targeted with respect to the expenses incurred and the revenue earned.
It provides the standard categorization of expenditure, revenues, losses, should the company earned and incurred in order to make the profit so that the real or actual performance of an organization could be seen and compared with the standard one
Therefore, according to the given situation, the correct option is d.
A savings account earns 8% interest. If $1,000 is invested, how many years is it until each of the following amounts is on deposit?a. $1,360b. $2,720c. $4,316d. $6,848
Answers
Answer:
a. 4 years
b. 19 years
c. 19 years
d. 25 years
Explanation:
The number of years, n is calculated for each future value as follows :
a. $1,360
Pv = - $1,000
Pmt = $ 0
P/y = 1
r = 8 %
Fv = $1,360
n = ?
Using a Financial Calculator, the number of years, n is 3.9953 or 4 years
b. $2,720
Pv = - $1,000
Pmt = $ 0
P/y = 1
r = 8 %
Fv = $2,720
n = ?
Using a Financial Calculator, the number of years, n is 13.00 or 13 years
c. $4,316
Pv = - $1,000
Pmt = $ 0
P/y = 1
r = 8 %
Fv = $4,316
n = ?
Using a Financial Calculator, the number of years, n is 19.00 or 19 years
d. $6,848
Pv = - $1,000
Pmt = $ 0
P/y = 1
r = 8 %
Fv = $6,848
n = ?
Using a Financial Calculator, the number of years, n is 24.9991 or 25 years