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There must be accountability for all cash received and proper authorisation for all payment. Select one: O True O False

The rationale for correctly measuring value traded in a transaction is the reasoning for variation in accounting treatment for exchanges of comparable and different assets.

The fair value accounting standard is often followed when equivalent assets are swapped. The fair value of an item is the price at which it might be transferred in a formal transaction between informed and motivated parties. The justification for utilising fair value is to appropriately recognize the exchange's economic worth.

The fair value of an asset is generally recorded when cash is paid in addition to a comparable asset, and any difference among fair value and cash paid is reported as a gain or loss in the financial statements. The fair value of the asset given up is erased from the books if cash is received in addition to the equivalent asset, and any discrepancy between the fair value and the cash received is recorded as a gain or loss.

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The coupon rate on these bonds of McConnell Corporation  is option B) 11.98%.

Given data:

Bond price, P = $1,216.50

Par value of the bond,

M = $1,000

Years to maturity, n = 17 years

Yield to maturity, YTM = 9.4%

Number of coupon payments, C = 2 (semiannual)

Let C be the coupon payment, so the total annual coupon payment is C x 2 = $2C.  

Also, the bond's par value is $1,000.

Since the bond makes semiannual payments, the required return is the semiannual yield.

By using the given formula to calculate the price of a bond, we can calculate the coupon rate of the bond.

The formula is:

P = C x (1 - 1/(1+r)^n)/r + M/(1+r)^n

Where, P = price of the bond

C = periodic coupon payment

M = par value of the bond

r = periodic yield or the periodic interest rate (YTM/2)

n = total number of coupon payments (years to maturity x 2)

Therefore, substituting the given values in the above formula, we have:

$1,216.50 = [C x (1 - 1/(1+r)^n)]/r + $1,000/(1+r)^n

On solving the above equation, we get the periodic coupon payment as $46.15.

So, the annual coupon payment = 2 x $46.15

= $92.30

Therefore, the coupon rate = (Annual coupon payment / Par value) x 100

= ($92.30 / $1,000) x 100

= 9.23%

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Let's assume that the change in net operating assets (NOA) from this year to next year is $50,000.

Given:

This year's core RNOA0 = 10%

NOA0 = $477,897

Cost of capital = 7%

Change in NOA = $50,000

To calculate next year's expected operating income (OI1), we can use the formula:

OI1 = NOA1 * RONA1

First, we need to calculate NOA1:

NOA1 = NOA0 + Change in NOA

    = $477,897 + $50,000

    = $527,897

Next, we can calculate OI1:

OI1 = NOA1 * RONA1

   = $527,897 * 10%

   = $52,789.70

Therefore, next year's expected operating income (OI1) is approximately $52,789.70.

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Prior to conducting a cost/volume/profit preparing analysis, a restaurant manager must develop a contribution margin income statement. Therefore option (A) is correct answer.

A contribution margin income statement is a document that displays how fixed and variable costs are distributed. Revenue, variable costs, and the contribution margin are all part of the statement. It does not include any fixed expenses. It's critical to develop a contribution margin income statement before conducting a cost/volume/profit analysis, as it helps identify a restaurant's profit margin and plan accordingly. Option (A) is correct answer.

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The effective annual rate for a credit card that has an annual percentage rate of 17.89% and compounds interest daily is B) 19.82%.

The effective annual interest rate is the interest rate that is actually earned or paid on an investment, loan, or other financial product due to the effect of compounding over a given period.

The formula for calculating the effective annual rate of interest is as follows:

Effective annual rate of interest = (1 + i/n)^n - 1where

i = nominal annual interest rate

n = number of compounding periods per year

di/n = periodic interest rate

For this question, the nominal annual interest rate is 17.89%, n = 365 (as interest compounds daily), and

i/n = 0.1789/365

= 0.0004904.

Substituting these values into the formula, we get:

Effective annual rate of interest = (1 + 0.0004904)^365 - 1

= 0.1982 or 19.82%

Therefore, the effective annual rate of interest for this credit card is 19.82%, which is option B.

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The multiplier effect refers to the amplification of a given amount of spending in the economy.

In other words, it is the process by which a change in one of the components of aggregate demand leads to a greater change in the national income and output of the economy. The multiplier effect occurs because of the relationship between the changes in spending and changes in the income that result from those changes in spending. When households, firms, or the government increase their spending, this leads to increased demand for goods and services in the economy.

As businesses respond to this increased demand, they increase their output and hire more workers to meet the higher level of demand. The increase in output and employment leads to an increase in income, which in turn leads to further increases in consumer spending, business investment, and government expenditure.

This process repeats itself, leading to a larger overall increase in income than the initial increase in spending. The multiplier effect is like throwing a stone in a pond. When you throw a stone in a pond, it creates ripples that spread outwards from the point of impact. The ripples get larger as they move further away from the point of impact, just as the multiplier effect leads to a larger increase in income the further it spreads through the economy. The multiplier effect is like a game of dominoes, where one action leads to a chain reaction of other actions. When one firm increases its output and hires more workers, this leads to increased demand for goods and services from other firms, which in turn leads to further increases in output and employment.

The multiplier effect is like a snowball rolling down a hill, getting larger and larger as it picks up more snow along the way. Similarly, the multiplier effect leads to a larger overall increase in income as it picks up more spending along the way.

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In order to make the most of event sponsorships, marketers should not only establish media impressions, but also:

find a way to link the brand with a positive feeling that will go beyond the duration of the event.

To make the most of event sponsorships, marketers should not only establish media impressions, but also find a way to link the brand with a positive feeling that will go beyond the duration of the event.

The correct option is D.

What is sponsorship?

Sponsorship is a part of the promotional mix which refers to a cash and/or in-kind fee paid to a property (typically in sports, arts, entertainment, or causes) in return for access to the exploitable commercial potential related to that property. Sponsorship is a marketing tactic that includes any means of promoting a product, event, or service by means of a sponsorship agreement or association with a particular activity or event. In order to make the most of event sponsorships, marketers should not only establish media impressions, but also find a way to link the brand with a positive feeling that will go beyond the duration of the event.

What is media impressions?

A media impression is any chance of exposure to an advertising message conveyed by a particular media vehicle. The term "media impressions" applies to the number of individuals exposed at least once to a particular media vehicle or a commercial message in the vehicle.

What is promotion?

Promotion is a type of communication that organizations utilize to promote their goods or services. Advertising, public relations, personal selling, and sales promotion are all examples of promotional tactics.

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If the price of clams decreases, Quantity demand will increase. In economics, the word "quantity demanded" refers to the overall amount of an item or service that customers desire during a specific period of time.

Regardless of whether a market is in equilibrium, it is dependent on the cost of an item or service. Quantity desired in economics refers to the quantity of a commodity or service that customers are willing to purchase at a particular price. For instance, if customers are willing to pay $0.50 for 1,000 lemons, the quantity requested is 1,000 lemons at $0.50.

According to Brian Beal, a professor of marine ecology at the University of Maine at Machias whose research focuses on shellfish, the costs are growing as a result of variables like the pandemic's increased interest in local food and a limited number of clams available on the market.

Clams are shellfish that serve as both a food source and a filter feeder, contributing significantly to the web of life that keeps the seas working. Due to its use as a raw material in the production of cement, calcium carbide, and sand lime bricks, the clam shell is also significant commercially.

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The question is incomplete, complete question is here:
Quantity of potatoes (pounds) 12 10 8 6 NAG 4 2- 0 B C 1 1 D 2 Consumption Bundle E₁ 3 4 Quantity of clams (pounds) Based on the figures above, what happens if the price of clams decreases?
A. Quantity demand will increase
B. Quantity demand will decrease
C. Quantity demand will be constant
D. none of them

To prepare a bank reconciliation for Daniel's checking account on May 31, 2024, you would follow these steps:

1. Gather the bank statement: Obtain the bank statement for the month of May 2024 from the bank.

2. Compare deposits: Compare the deposits recorded in Daniel's records with the deposits shown on the bank statement. Identify any discrepancies, such as deposits not yet credited or deposits recorded in error.

3. Compare withdrawals: Compare the withdrawals or checks issued recorded in Daniel's records with the withdrawals shown on the bank statement. Identify any discrepancies, such as outstanding checks or unauthorized withdrawals.

4. Note bank charges and credits: Take note of any bank charges, such as fees or service charges, and any bank credits, such as interest earned, as shown on the bank statement.

5. Adjust the balance: Make adjustments to the bank balance and the book balance based on the identified discrepancies and additional bank charges or credits.

6. Reconcile the balance: Reconcile the adjusted bank balance and the adjusted book balance to arrive at the final reconciled balance for Daniel's checking account on May 31, 2024.

For recording the necessary cash adjustments, it would depend on the specific adjustments required based on the bank reconciliation. Common cash adjustments may include:

- Recording outstanding checks: If there are checks issued by Daniel but have not yet cleared the bank, they need to be recorded as outstanding checks in Daniel's records.

- Recording deposits in transit: If there are deposits made by Daniel but have not yet been credited by the bank, they need to be recorded as deposits in transit in Daniel's records.

- Adjusting for bank fees or service charges: If there are bank charges or fees reflected in the bank statement, they need to be recorded as an expense in Daniel's records.

- Adjusting for interest earned: If there is interest earned on the checking account, it needs to be recorded as income in Daniel's records.

It is important to review the bank reconciliation and identify the specific adjustments required based on the individual circumstances of Daniel's checking account.

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The firm’s purpose and where it fits into the world is identified by option B) the mission.

A mission statement is a brief statement that describes a firm's fundamental goal, purpose, and its core competencies in the competitive environment. It is a statement that explains what a company does, why it exists, and its reason for being in business.

A mission statement focuses on the customer and their needs, and it communicates the organization's core values and objectives. It describes the company's reason for being and how it plans to accomplish its purpose.The organization's mission statement is critical in developing and directing strategy, identifying and addressing issues that have an impact on strategic decision-making, and guiding day-to-day decision-making and resource allocation processes.Therefore, the firm's purpose and where it fits into the world is identified by the B) mission.

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The required return for the overall stock market is 12.5%. The required rate of return on a stock with a beta of 1.9 is 21.4%. The required return for the overall stock market is calculated using the Capital Asset Pricing Model (CAPM). The CAPM formula is:

Required return = Risk-free rate + Beta * Market risk premium

In this case, the risk-free rate is 6.5%, the market risk premium is 6%, and the beta of the overall stock market is 1.0. Plugging these values into the CAPM formula, we get:

Required return = 6.5% + 1.0 * 6% = 12.5%

The required rate of return on a stock with a beta of 1.9 is calculated using the same formula. In this case, the beta is 1.9, so the required return is:

Required return = 6.5% + 1.9 * 6% = 21.4%

The risk-free rate is the return that an investor can expect to earn on an investment with no risk. The market risk premium is the additional return that an investor expects to earn on an investment in the stock market over and above the risk-free rate. Beta is a measure of a stock's volatility relative to the market. A stock with a beta of 1.0 is as volatile as the market. A stock with a beta of 1.9 is more volatile than the market.

The CAPM formula takes into account the risk-free rate, the market risk premium, and the beta of a stock to calculate the required return for that stock. The required return is the minimum return that an investor should expect to earn on an investment in that stock.

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Premium bond:

Definition: A premium bond is a bond that is issued at a price higher than its face value.

Bond Price = Face Value + Present Value of Coupons + Present Value of Face Value

Where the present value is calculated using the discount rate and time periods remaining until maturity.

Discount bond:

Definition: A discount bond is a bond that is issued at a price lower than its face value. The present value of coupons and face value will be lower than their respective nominal values.

Bond Price = Face Value + Present Value of Coupons + Present Value of Face Value

Par bond:

Definition: A par bond is a bond that is issued at its face value, which is equal to the bond's nominal value. The present value of coupons and face value will be equal to their respective nominal values.

Bond Price = Face Value + Present Value of Coupons + Present Value of Face Value

Coupon bond (annual & semiannual):

Definition: A coupon bond is a bond that pays periodic interest payments, known as coupons, to the bondholder.

Formula: For an annual coupon bond, the formula is:

Bond Price = Present Value of Coupons + Present Value of Face Value

For a semiannual coupon bond, the formula is:

Bond Price = Present Value of Semiannual Coupons + Present Value of Face Value

Zero-coupon bond:

Definition: A zero-coupon bond is a bond that does not pay periodic interest payments. Instead, it is sold at a discount and provides a return to the bondholder at maturity.

Bond Price = Present Value of Face Value

Consol bond:

Definition: A consol bond, also known as a perpetuity bond, is a bond that pays a fixed coupon indefinitely.

Bond Price = Coupon / Interest Rate

Where the coupon represents the fixed periodic payment and the interest rate is the required rate of return on the bond.

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The correct classifications for checking accounts and financial accounts are:

A. U.S. Purchases of Foreign Assets: capital and financial accounts

B. U.S. Service Imports: Current account

C. Foreign purchases of assets in the United States: Capital and financial account .

D. U.S. Merchandise Exports: Current account

e. US net investment income: Current account

The current account represents the flows of goods, services, income, and unilateral transfers between one country and the rest of the world, and includes items such as imports and exports of goods, imports and exports of services, and net investment income.

Capital and financial accounts capture the flow of financial capital between one country and the rest of the world. This includes the purchase of foreign assets by domestic companies and the purchase of domestic assets by foreign companies.

Based on this understanding, items can be categorized as above. Acquisitions of assets abroad by the United States and acquisitions of assets in the United States by foreign countries involve movements of financial capital and are therefore capital and financial accounts. U.S. Imports of Services, U.S. Exports of Goods, and U.S. Net Investment Income relate to flows of goods, services, and income and are part of the current account.

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Industry analysis is a method that helps you compare the performance of two companies within the same industry. Two companies that are considered to be merchandising businesses are Columbia Sportswear and Under Armour, Inc.

To determine whether Columbia Sportswear Company and Under Armour, Inc. are merchandising businesses, you can analyze their financial statements, specifically the consolidated balance sheets and consolidated statements of income.

In the consolidated balance sheets, you can look for inventory as an account that indicates the presence of merchandising activities. Merchandising businesses typically hold inventory for sale to customers. If you find inventory listed on the balance sheets of both companies, it suggests that they engage in merchandising activities.

In the consolidated statements of income or operations, you can examine the revenue or sales line item. Merchandising businesses generate revenue primarily from the sale of goods or merchandise. If you observe significant revenue from the sale of goods on the income statements of both companies, it further confirms their classification as merchandising businesses.

By analyzing the presence of inventory on the balance sheets and significant revenue from the sale of goods on the income statements, you can identify Columbia Sportswear Company and Under Armour, Inc. as merchandising businesses.

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The applying residual theory to determine the dividends, if any, can be paid out is given by the amount $401,804.

Residual theory suggests that if a corporation is unable to make all the investments it wants to make, it should finance the ones that will yield the most significant returns. The investment that yields the highest return is referred to as the residual investment. After all the residual investments have been funded, the company will return any remaining money to its shareholders in the form of dividends. The following is how to determine the dividend amount that can be paid out:

Calculate the amount of capital required for both investments:

$1,011,804 + $1.73 million = $1,011,804 + $1,730,000= $2,741,804

Compute the amount of money available for investment:

Equity proportion = 35%

Debt proportion = 65%

Retained earnings = $1,260,000

Total capital = $1,260,000/0.35 = $3,600,000

Calculate the amount of money available for investments:

Total capital - Required capital = $3,600,000 - $2,741,804 = $858,196.

The amount of money available for dividends is:

$1,260,000 - $858,196 = $401,804.

Therefore, the dividend amount that can be paid out is $401,804.

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The correct answer is (D) the tax deductibility of interest payments. Debt is generally considered the least expensive source of capital because of the tax deductibility of interest payments.

When a company incurs debt and pays interest on that debt, the interest payments can be deducted from the company's taxable income. This reduces the company's tax liability, resulting in a lower cost of debt.

By deducting the interest payments, the company effectively reduces its overall cost of borrowing.

This is because the interest expense is considered an allowable business expense and is subtracted from the company's taxable income. As a result, the company pays less in taxes, effectively lowering the cost of the debt.

On the other hand, equity financing, such as issuing new shares or retaining earnings, does not offer the same tax benefits.

The returns to equity investors, such as dividends or capital gains, are typically not tax-deductible for the company. Therefore, the cost of equity is generally higher than the cost of debt.

While options A, B, and C may also contribute to the attractiveness of debt as a source of capital, the tax deductibility of interest payments is a key factor that significantly reduces the cost of debt and makes it a more cost-effective financing option for many companies.

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To solve the problem, we can use the Capital Asset Pricing Model (CAPM). Thus we get beta of the stock is 1.35

The formula is as follows:

Required return = Risk-free rate + Beta X Market risk premium

The beta of the stock can be calculated using the CAPM formula. It is given as follows:

Expected return of the stock = Risk-free rate + Beta × Market risk premium

The given expected return is 10.8%,

the risk-free rate is 1.0%, and the market risk premium is 7.7%. Putting the given values in the above formula, we get:

10.8% = 1.0% + Beta × 7.7%

Now, solving for beta, we get: Beta = (10.8% - 1.0%) / 7.7%

Beta = 1.35

Therefore, the beta of the stock must be 1.35.

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As the manager/owner of a local coffee residence, the outputs include coffee beverages, different drinks, meal gadgets, and a nice customer experience. The sports required contain coffee and meals practice, customer service, inventory control, and cleaning/maintenance. Inputs include espresso beans, substances, packaging materials, utilities, and human assets.

As the supervisor/proprietor of a neighborhood espresso residence, permit's recall the outputs, activities, and inputs concerned in running the coffee house:

a. Outputs of the coffee house:

Coffee drinks: This includes various varieties of espresso such as espresso, cappuccino, latte, brewed coffee, and so on.

Other drinks: Apart from espresso, the coffee house may also provide other beverages like tea, warm chocolate, smoothies, or juices.

Food gadgets: Many coffee homes serve baked goods, sandwiches, salads, or mild snacks to accompany the liquids.

Customer experience: The coffee residence targets to offer a pleasing environment, friendly service, and a welcoming environment for customers.

B. Activities required to produce the output:

Coffee practice: This involves brewing espresso, grinding beans, making espresso pictures, steaming milk, and different important duties to put together the coffee drinks.

Food instruction: If the coffee residence serves food objects, activities like baking, cooking, assembling sandwiches, or making ready salads can be required.

Customer provider: Interacting with customers, taking orders, serving beverages and food, making sure cleanliness, and retaining a hospitable environment are crucial activities.

Inventory management: Monitoring and restocking espresso beans, milk, meal ingredients, and other substances to make certain clean operations.

Cleaning and renovation: Regular cleansing of the espresso house, along with tables, counters, system, and restrooms, as well as appearing maintenance duties for equipment and appliances.

C. Inputs:

Coffee beans: The primary enter for coffee drinks is fantastic espresso beans sourced from suppliers.

Milk and other elements: Inputs like milk, syrups, sweeteners, flavors, and spices are required for diverse coffee and beverage preparations.

Food components: If the espresso residence serves food, inputs like bread, veggies, meats, condiments, and other ingredients can be important.

Packaging substances: Cups, lids, stirrers, napkins, and other packaging substances are required for serving beverages and meals.

Utilities: Inputs like electricity, water, and gas are important to electrical equipment, and run machinery, and offer vital utilities for the coffee residence.

Human assets: Skilled baristas, cooks, servers, and different personnel members are essential inputs to make certain easy operations and provide superb customer support.

These are a number of the primary outputs, sports, and inputs involved in strolling a coffee residence. The particular information may also vary relying on the dimensions, menu, and operations of the espresso house.

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a) The value of the Macro-equilibrium income using the injection/leakage approach is Y = 160

b.) The new equilibrium income if investment increases with 20 is 240.

a) Macro-equilibrium income using the injection/leakage approach

In macroeconomic models, the equilibrium output is determined by comparing the total injections (I) to the total leakages (L).

The macroeconomic equilibrium is reached when the sum of the injections equals the sum of the leakages. In the model, the total injection is equal to the sum of investment (I), government spending (G) and exports (X), while total leakage is equal to the sum of savings (S), taxes (T), and imports (M).

Therefore, we have;

Total Injections = I + G + X= 10 + 30 + 0= 40

Total Leakages = S + T + M= (75/100)Y + 10 + (25/100)

Y= 0.75Y + 10 + 0.25

Y= 1Y + 10

Substituting the above total injections and leakages into the formula for macroeconomic equilibrium:

Total Injections = Total Leakages

I + G + X = S + T + M10 + 30 + 0 = (75/100)Y + 10 + (25/100)Y

Y = [10 + 30 + 10] / [1 - (0.75 + 0.25)]

Macro-equilibrium income, Y = 160

b) The new equilibrium income if investment increases with 20The multiplier is the value by which a change in any exogenous variable is multiplied to determine the equilibrium change in output.

In this case, an increase in investment by 20 will lead to an increase in equilibrium output, determined by the multiplier formula;

Multiplier, k = 1/ (1 - MPC) = 1/ (1 - 0.75) = 4

ΔY = kΔII = 10 + 20 = 30

ΔY = 4 * 20 = 80

The new equilibrium income is given by;New equilibrium income = Y + ΔY= 160 + 80= 240

Therefore, the new equilibrium income if investment increases with 20 is 240.

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Cost of goods sold is an account that is shown on the balance sheet for a merchandiser but not on the balance sheet of a service business. The correct option is D.

A merchandiser's balance sheet includes the cost of goods sold account, but a service business' balance sheet does not. The costs directly related to creating or acquiring the products that a merchandiser sells are reflected in this account. It includes the price of labor, raw materials and overhead directly related to the creation or acquisition of the goods.

The merchandiser determines its gross profit by subtracting the cost of goods sold from the money received from sales. This distinction is crucial because service businesses typically don't have tangible products to sell and don't have a cost of goods sold as a result.

As opposed to merchandisers, service businesses typically concentrate on offering their clients intangible services, which do not require the same considerations for inventory and production. The correct option is D.

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As the question comprises of multiple parts, the main answer to each part is given as follows:1) In what way the action of Keynes may be improving economy? In the Keynesian view, investments are seen as a crucial driver of long-term economic growth and market economy, as it leads to an increase in productivity, capital stock, and innovation, which may result in higher output levels and higher living standards in the long run.

Explanation:Keynesian economics aims to address the persistent issues of an economy, which are related to the demand side of the economy. The action of Keynes may improve the economy by demonstrating the Keynesian theory, which emphasizes government intervention in the economy, through investment or spending.2) Write a factor, which may create such a change in the spending curve.

The spending multiplier in India is relatively small compared to Turkey. The spending multiplier in India is influenced by factors such as the proportion of household savings, foreign trade, and exchange rate fluctuations.4) What may this fact be telling us on potential short-run trends of the economic system? Explanation: An increase in inventories of companies may signify that the economy is heading towards a downturn, and in the short run, the demand for goods and services may decrease. This trend may indicate a reduction in the economic activity of the system, and firms may cut back production or investments.5) Explain why, in the short run, a high saving rate may hurt the economy according to the Keynesian view. Compare this view with the effect of investment on long-run growth, described by the model we have seen in the growth chapter.

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a. Bank Reconciliation for June 30:

1. Start with the Bank Statement Balance: $16,311.00

2. Add: Deposits in transit

3. Deduct: Outstanding checks

4. Deduct: Bank service charge

5. Compare the Adjusted Bank Balance with the Book Balance:

b. Journal Entry to update the Cash account:

To reflect the adjustments identified during the bank reconciliation, you would typically make the following journal entries:

1. For the deposits in transit:

2. For the outstanding checks:

3. For the service charge:

Please note that the specific account names and amounts may vary depending on your organization's chart of accounts and accounting system. It's always recommended to consult with an accountant or financial professional for accurate and specific guidance based on your situation.

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On January 31, 2021, Gundy Enterprises would record the first monthly mortgage payment as follows:Debit Interest Expense for $1,083.33 Credit Notes Payable for $563.46 Credit Cash for $1,646.79

A mortgage is a loan given to purchase real estate, such as an office building or home. As a result of this purchase, the borrower agrees to pay back the principal, which is the amount borrowed, as well as interest over a set period of time. The mortgage agreement specifies the interest rate, payment schedule, and other conditions.The company that purchases the building is known as the mortgagor, whereas the bank or lender who provides the mortgage is known as the mortgagee.

The loan is usually repaid in monthly installments, with interest being applied to the outstanding balance each month.The first monthly mortgage payment for Gundy Enterprises is due on January 31, 2021, and totals $1,646.79. The payment is made up of both principal and interest. To record the payment, the company will credit cash for $1,646.79, which represents the cash paid to the mortgagee. The company will also debit interest expense for $1,083.33, representing the interest component of the payment, and credit notes payable for $563.46, representing the principal repayment portion of the payment.

Gundy Enterprises has a mortgage of $130,000 on an office building that it purchased for $173,000. The monthly mortgage payment is $1,646.79, consisting of principal and interest. The company will record the first monthly mortgage payment on January 31, 2021, by debiting interest expense, crediting notes payable, and crediting cash for $1,083.33, $563.46, and $1,646.79, respectively.

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A journal entry is a record of a financial transaction made by a company and kept in its accounting records.

A business's transactions are tracked in a journal, which also shows the debit and credit balances. The correct entries are -

Feb. 15: Declaration of Stock Dividend

Common Stock Dividend Distributable A/c

To Common Stock A/c

The declaration of a stock dividend involves no real money or assets. Instead, changes are made to equity accounts. The dividend amount is deducted from Common Stock Dividend Distributable, and additional shares issued as a stock dividend are deducted from Common Stock.

Mar. 31: Sale of Common Stock

Cash A/c  Dr.

To Common Stock A/c

To Paid-in Capital in Excess of Par Value A/c

Cash is debited for total amount of the transaction, Common Stock is credited for amount equal to the par value, $1 per share, and Paid-in Capital in Excess of Par Value, Common Stock is credited for the balance.

Apr. 15: Issuance of Stock Dividend

Common Stock Dividend Distributable A/c

To common Stock (10% of the issued shares x $12 per share)

To reverse the preceding entry, we must debit and credit the Common Stock Dividend Distributable account. Then the Common Stock account will be credited for dividend amount based on the stock's market price of $12 per share.

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Gross Domestic Product (GDP) is the market value of all final products and services produced within the geographic boundary of a country during a specified period, typically annually. Therefore, the answer to this question is (d) $30K.

The following are the various components of the GDP:Consumer expenditure, or private expenditure, is the sum of all household and personal expenditures on goods and services used for consumption. Hence, the purchase of a new vehicle would be included in the GDP as part of the consumer expenditure

Investment is the amount of capital expenditure incurred by firms to purchase physical capital, such as buildings and equipment, for the production of goods and services. Therefore, a prosperous Chinese student paying $20K in college tuition would be included in the GDP, as it is an investment. Government spending is the amount of money spent by the government on goods and services.

Net exports (exports - imports) is the value of a country's exports minus the value of its imports.In the long run, interest parity predicts that the exchange rate will adjust to offset any difference in interest rates between two countries.

Because the interest rate is higher in the US than in Europe, US investors will demand more European financial assets.

This will raise the value of the euro relative to the dollar, causing the dollar to depreciate by 2%, making (d) the correct answer.

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If a company's net sales were $695,000, its cost of goods sold was $239,770 and its net income was $43,600. Its gross margin ratio equals to 65.5%. Option D.

Gross Margin Ratio: Gross Margin Ratio is used to calculate the profitability of a company. It measures the percentage of sales that exceed the cost of goods sold, which results in gross profit. The Gross Margin Ratio can be calculated by using the following formula: Gross Margin Ratio = (Net sales – Cost of goods sold) / Net sales

Therefore, Gross Margin Ratio = ($695,000 – $239,770) / $695,000 = $455,230 / $695,000 = 0.655, which is equal to 65.5%. Therefore, the answer is option D 65.5%.

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By exploiting arbitrage opportunities and By paying wages, interest, and rent to other factors of production are ways in which an entrepreneur earns a profit. Option A and B are correct answer.

New goods and services introduced by entrepreneurs have the potential to significantly increase productivity, lower prices, and improve quality of life. When feasible, they continue the process by offering new solutions for additional requirements in order to profit from an original answer for a distinct, significant need. Option A and B are correct answer.

Once companies use legal tools like patents to safeguard their concepts and finished goods and act quickly to fulfill consumer demand, they may momentarily dominate a market and make substantial profits. If rivals are unable to develop and launch comparable goods or services quickly, the product may turn out to be profitable for the business owner. In fact, businesses could earn substantial profits even if they continue to be the only provider of the good or service.

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The effects of a 10% increase in price on the quantity demanded of two Domino's Pizza franchises in a town are as follows:

Location 1: The quantity demanded decreases by 5% as a result of a 10% increase in price.Location 2: The quantity demanded decreases by 20% as a result of a 10% increase in price. In order to increase revenue at each location, the following pricing policies should be implemented:

Location 1: Since the price elasticity of demand is less than one in Location 1, the company can increase its revenue by raising the price. When the price increases by 10%, the quantity demanded decreases by 5%. As a result, the price elasticity of demand is less than 1 (0.5), which indicates that the company may raise prices to increase its revenue.

Location 2: As the price elasticity of demand is more than one in Location 2, the company can increase its revenue by lowering the price. When the price decreases by 10%, the quantity demanded increases by 20%. As a result, the price elasticity of demand is greater than 1 (2), indicating that the company can lower prices to increase revenue.

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Calculations of Actual and Budgeted Cost of Direct Materials: Actual Cost of Direct Materials = Actual QTY x Actual price= 475,250 x 1.50= $712,875

Budgeted Cost of Direct Materials = Budgeted QTY x Budgeted price= 455,750 x 1.30= $592,175.

Calculation of Rate and Efficiency Variance: Rate Variance: It shows the difference between the actual and standard rate of cost per unit of input.

It is calculated as follows: Rate Variance = (Actual Price - Standard Price) x Actual Quantity= ($1.50 - $1.30) x 475,250= $95,500.

Efficiency Variance: It is calculated as follows: Efficiency Variance = Standard Price (Actual Quantity - Standard Quantity)= $1.30 (475,250 - 455,750)= $25,5002.

The above calculations show that the actual cost of direct materials was higher than the budgeted cost of direct materials. The actual price of the direct materials was also higher than the budgeted price.

The rate variance for direct materials is unfavorable as the actual price was higher than the budgeted price, which resulted in a cost of $95,500 more than the standard cost.

The efficiency variance is favorable as the actual quantity used is more than the standard quantity.

3. Rate and efficiency variance analysis for direct labour:Direct Labour Budgeted Hours: 42,300.00

Actual Hours: 45,500.00

Budgeted Rate: 26.00

Actual Rate: 25.00

Calculations of Actual and Budgeted Cost of Direct Labour:Actual Cost of Direct Labour = Actual Hours x Actual Rate= 45,500 x 25= $1,137,500

Budgeted Cost of Direct Labour = Budgeted Hours x Budgeted Rate= 42,300 x 26= $1,100,000

:Rate Variance: It shows the difference between the actual and standard rate of cost per unit of input.

It is calculated as follows: Rate Variance = (Actual Rate - Standard Rate) x Actual Hours= ($25.00 - $26.00) x 45,500= $-45,500 (Favorable)

Efficiency Variance: It is calculated as follows:Efficiency Variance = Standard Rate (Actual Hours - Standard Hours)= $26.00 (45,500 - 42,300)= $83,800 (Unfavorable)

4. Comment on the results in #3The above calculations show that the actual cost of direct labor was higher than the budgeted cost of direct labor. The actual rate of direct labor was lower than the budgeted rate of direct labor.

The efficiency variance is unfavorable as the actual hours used are more than the standard hours. The company needs to investigate why actual hours used are more than the standard hours and try to control the actual hours to the standard hours.

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