Answer: $1,415
Explanation:
Going by the Accrual principle in Accounting, the revenue to be recognized has to be for services rendered in the period of interest regardless of it is in cash or on account.
The revenue transactions for the month of July therefore will be for only services rendered in July.
Those include;
Received $970 cash for services provided to a customer during July.Provided services to a customer on credit, $445The rest were either equity, liability or revenue for a period other than July.
Revenue for July is therefore;
= 970 + 445
= $1,415
Bayside, Inc. 2017 Income Statement ($ in thousands) Net sales $ 6,620 Cost of goods sold 4,240 Depreciation 355 Earnings before interest and taxes $ 2,025 Interest paid 30 Taxable income $ 1,995 Taxes 698 Net income $ 1,297 Bayside, Inc. 2016 and 2017 Balance Sheets ($ in thousands) 2016 2017 2016 2017 Cash $ 110 $ 215 Accounts payable $ 1,540 $ 1,885 Accounts rec. 990 830 Long-term debt 810 610 Inventory 1,680 2,070 Common stock 3,240 3,080 Total $ 2,780 $ 3,115 Retained earnings 880 1,130 Net fixed assets 3,690 3,590 Total assets $ 6,470 $ 6,705 Total liab. & equity $ 6,470 $ 6,705 What is the equity multiplier for 2017? Multiple Choice 1.59 times 2.08 times 2.18 times 1.02 times .53 times
Answer:
1.59 times
Explanation:
Average total assets = Beginning total assets + Ending Total assets / 2
Average total assets = 6,470 + 6,705 / 2
Average total assets = $6,587.5
Beginning Total equity = Common stock + Retained earnings
Beginning Total equity = $3,240 + $3,080
Beginning Total equity = $6,320
Ending Total equity = Common stock + Retained earnings
Ending Total equity= $880 + $1,130
Ending Total equity = $2,010
Average total equity = Beginning Total equity + Ending Total equity / 2
Average total equity = $6,320 + $2,010 / 2
Average total equity = $4,165
Equity multiplier for 2017 = Average total assets / Average total equity
Equity multiplier for 2017 = $6,587.5 / $4,165
Equity multiplier for 2017 = 1.581632653061224
Equity multiplier for 2017 = 1.5816 times
Annuities are a series of constant cash flows that have been received over a certain period of time. However, not all annuities are created equal. Some annuities adjust the payments based on certain macroeconomic factors. Growing annuities are a series of payments that grow at aconstant rate. You invested in an aggressive growth fund and expect to earn 14.84% annually over the next five years. However, due to strong growth, inflation is expected to be 7.35%. What should be your expected real rate of return
Answer:
Real interest rate= 0.0749= 7.49%
Explanation:
Giving the following information:
You invested in an aggressive growth fund and expect to earn 14.84% annually over the next five years. However, due to strong growth, inflation is expected to be 7.35%.
The inflation rate provokes the opposite effect than the interest rate. It decreases the value of money through time, reducing the purchasing price of the nominal value of money.
Real interest rate= nominal interest rate - inflation rate
Real interest rate= 0.1484 - 0.0735
Real interest rate= 0.0749= 7.49%
What is the most effective learning theory in your opinion? Explain how does it modify one’s behavior? Support your answer with relevant examples.
Answer:
Experiential Learning Theory
Explanation:
I think that the experiential learning theory is the most effective learning theory. This learning theory projects experience as a crucial factor that promotes learning. It also explains that people learn better when they initiate their learning and not when they are forced to learn.
I think this theory is very effective as it makes the lessons learned to stick better and also cause the needed changes. For example, a teenager who is constantly reminded by his parents to avoid late night partying, but rejects the counsel, might learn better if he gets into trouble as a result of the experience. Also, a student who finds it difficult to understand a topic taught by a teacher, might get better at it when he initiates the learning himself by actively researching and studying on his own.
On January 1 of the current year, Jimmy's Sandwich Company reported total stockholders’ equity of $125,000. During the current year, total revenues were $100,000 while total expenses were $89,500. Also, during the current year the company paid $24,000 in dividends. No other changes in equity occurred during the year. The change in total equity during the year was:
Answer: ($13,000)
Explanation:
Closing balance of Equity = Opening Balance + Retained earnings
Retained earnings = Net Income - dividends
Formula above shows that equity changes as a result of Retained earnings which is the net of Net Income and Dividends.
Change in equity will be = Net Income - Dividends
= (100,000 - 89,500) - 24,000
= -$13,500
Equity reduces by $13,500
Multiple Choice Question The following selected information pertains to Wilson Company. Current liabilities: $100; long-term liabilities: $150; contributed capital: $120; retained earnings: $50; accumulated other comprehensive income: $20. The company's debt to equity ratio (rounded to two digits after the decimal point) is
Answer:
The debt to equity ratio is 1.32
Explanation:
The computation of the debt to equity ratio is shown below;
Debt to equity ratio is
= Debt ÷ equity
where, Debt is long term + current liabilities
And, the equity is contributed capital + retained earnings + other incomes
= ($100 + $150) ÷ ($120 + $50 + $20)
= $250 ÷ $190
= 1.32
Hence, the debt to equity ratio is 1.32
Angel Corporation reported pretax book income of $1,006,000. During the current year, the net reserve for warranties increased by $25,900. In addition, tax depreciation exceeded book depreciation by $101,500. Finally, Angel subtracted a dividends received deduction of $26,200 in computing its current year taxable income. Angel's hypothetical tax expense in its reconciliation of its income tax expense is:
Answer:
$211,260
Explanation:
Calculation for Angel's hypothetical tax expense in its reconciliation of its income tax expense
Using this formula
Angel's hypothetical tax expense=Pretax book income × Tax rate
Let plug in the formula
Angel's hypothetical tax expense=$1,006,000×21%
Angel's hypothetical tax expense=$211,260
Therefore Angel's hypothetical tax expense in its reconciliation of its income tax expense will be $211,260
why do you think wants is less important?
Answer:
Wants is less important because you don't need it/them to survive, you can live with only your needs, you should only get your wants only if you can afford it and still have enough money for needs.
Explanation:
I don't know if that made sense lol
Give one advantage and one disadvantage for a Command Economy.
Answer:
Command economy advantages include low levels of inequality and unemployment, and the common good replacing profit as the primary incentive of production. Command economy disadvantages include lack of competition and lack of efficiency.
g After preparing a bank reconciliation, a journal entry would be required for which of the following: Group of answer choices None is correct. A deposit in transit A deposit made by a company with a similar name and credited to your account. Interest earned on the company's checking account. A check for $48 given to a supplier but not yet recorded by the company's bank.
Answer:
After preparing a bank reconciliation, a journal entry would be required for which of the following:
Interest earned on the company's checking account.
Explanation:
This interest was not recorded in the company before receiving the bank statement. A journal entry would record this by debiting Cash account and crediting Interest Earned account. The other transactions do not require the company to make any entry in its journals because they had earlier being recorded. The bank will make the necessary adjustment and not the company for the 'deposit made by a company with a similar name.'
Barnes Corporation manufactures two models of office chairs, a standard and a deluxe model. The following activity and cost information has been compiled: Number of Number of Number of Product Setups Components Direct Labor Hours Standard 22 8 375 Deluxe 28 12 225 Overhead costs $20,000 $40,000 Number of setups and number of components are identified as activity-cost drivers for overhead. Assuming an activity-based costing system is used, what is the total amount of overhead costs assigned to the standard model?
Answer:
Standard= $24,800
Explanation:
Giving the following information:
Number of: Setups Components
Standard 22 8
Deluxe 28 12
Overhead costs $20,000 $40,000
First, we need to calculate the predetermined overhead rate for each activity:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Setups= 20,000 / (22+28)= $400per setup
Components= 40,000 / (8+12)= $2,000 per component
Now, we can allocate overhead:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Standard= 400*22 + 2,000*8
Standard= $24,800
Which of the following is an example of a middle manager?
Teller at a bank
O Director of marketing
O Chief executive officer
O Salesperson in a retail store
Answer:
Director of marketing
Explanation:
I just got it right in a test
The Director of marketing is an example of a middle manager. Thus, option B is correct.
Who is a manager?A manager is a person who maintains the flow of the business, he is responsible for the smooth running of the business and coordinating between various departments. A manager tends to be the person who is delegating and is responsible for coordinating.
According to the hierarchical positions of the company, there are various positions that need to be filled like workers, staff, managers, executive managers, head of an office, CEO, etc.
From the given options, the middle manager will be the director of marketing the teller of the bank comes at a lower level, the chief executive officer will be at the top most level, and a salesperson will be at the lower middle level. Therefore, option B is the correct option.
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Define the internal environments in international business for finance, production and marketing
Answer:
International business can be defined as the trade of goods and services ( e.g technology, capital, consulting, transportation, events, hospitality) globally or across national borders.
Internal environment is composed of elements within the business that can easily be controlled by the company, this include employees, financial resources, productions, management, and marketing.
Explanation:
Internal environment determines the extent to which the business can excel in international market. Internal environment like financial resources will determine the quantity and quality of products the company markets or exports to other nations.
Internal environment are factors that can be easily controlled or altered in order to adjust to the external environment. The external environment cannot be easily controlled but the internal environment can be adjusted constantly to ensure the company is archiving it targets in the international business.
Below is the complete list of accounts of Cobras Incorporated and the related balance at the end of March. All accounts have their normal debit or credit balance. Supplies, $1,100; Buildings, $53,000; Salaries Payable, $300; Common Stock, $33,000; Accounts Payable, $2,100; Utilities Expense, $3,500; Prepaid Insurance, $1,100; Service Revenue, $19,300; Accounts Receivable, $4,000; Cash, $3,300; Salaries Expense, $6,200; Retained Earnings, $17,500. Required: Prepare a trial balance with the list of accounts in the following order: assets, liabilities, stockholders' equity, revenues, and expenses.
Answer:
Cobras Incorporated
Trial Balance
For the Month Ended March 31
Account Debit Credit
Cash $3,300
Account Receivable $4,000
Supplies $1,100
Prepaid Insurance $1,100
Buildings $53,000
Account Payable $2,100
Salaries Payable $300
Common stock $33,000
Retained earnings $17,500
Service Earnings $19,300
Salaries Expenses $6,200
Utilities Expenses $3,500
Total $72,200 $72,200
In a general partnership, each partner is liable for the partnership's obligations only up to a percentage of the obligation equal to that partner's percentage of ownership of the partnership.
a. True
b. False
In a market economy, decisions about which goods are produced are based on: A. what the local community has made for generations. B. what the government decides is important for society. C. what health care organizations suggest will be best for citizens. D. what businesses believe will generate the most profits.
Answer:
D.
Explanation:
Business run the economy not the government
D. What businesses believe will generate the most profits.
What is market economy?In a market economy, the producer gets to decide what to produce, how much to produce, what to charge customers for those goods, and what to pay employees. These decisions in a free-market economy are influenced by the pressures of competition, supply, and demand.
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If the government decides to raise the minimum wage,ceteris paribus:_________.
A) All workers are better off.
B) All workers are worse off.
C) Some workers are better off and some are worse off.
D) Workers are not affected by a minimum wage increase,only by a decrease.
Answer:
C) Some workers are better off and some are worse off.
Explanation:
If the government raises minimum wages, the cost of hiring labour increases and as a result, some firms would lay off some workers especially those that are low skilled labours.
As a result some would lose their jobs while others would benefit from the increased wages
On January 12, 2021, Jefferson Corporation purchased bonds of Rose Corporation for $52 million at par and classified the securities as available-for-sale. On December 31, 2021, these bonds were valued at $46 million. Nine months later, on October 3, 2022, Jefferson Corporation sold these bonds for $62 million. As part of the multistep approach to record the 2022 transaction, Jefferson Corporation should finally take the third step of recording a sales transaction with a gain of:
Answer:
Transaction gain = $16 million
Explanation:
Given:
Purchase amount = $52 million
December 31, 2021, bonds value = $46 million
October 3, 2022, bonds sold = $62 billion
Computation:
Using multi-step approach
Transaction gain = October 3, 2022, bonds sold - December 31, 2021, bonds value
Transaction gain = $62 million - $46 million
Transaction gain = $16 million
At the beginning of the year, Shinedown, Corp., had a long-term debt balance of $45,505. During the year, the company repaid a long-term loan in the amount of $10,880. The company paid $3,845 in interest during the year, and opened a new long-term loan for $9,695. How much is the ending long-term debt account on the company's balance sheet?
Answer:
$44,320
Explanation:
The below will be used to calculate the ending long term debt.
Ending long-term debt = Beginning long-term debt + New long-term debt - Repaid a long-term loan
Ending long-term debt = $45,505 + $9,695 - $10,880
Ending long-term debt = $44,320
Prepare a statement of cash flows for MED Corporation. (Enter your answers in thousands. Amounts to be deducted should be indicated with a minus sign.) Cash flow from Operating Activities $ Cash flow from Investing Activities $ Cash flow from Financing Activities $ Net Change in Cash and marketable securities $
Answer:
Explanation:
Question
Prepare a statement of cash flows for MED Corporation. (Enter your answers in thousands. Amounts to be deducted should be indicated with a minus sign.) Cash flow from Operating Activities $ Cash flow from Investing Activities $ Cash flow from Financing Activities $ Net Change in Cash and marketable securities $
1 Select the correct answer. If a news article contains bias, what should you do.PLS WILL MARK BRAINEIST
A.take it as a fact
B.READ ANOTHER ARTICLE ON THE SAME TOPIC
C.THROW THE ARTICLE AWAY
D.AUTOMATICALLY AGREE WITH THE REPORTER.
Answer:
I'm pretty sure the answer is B.
Explanation:
Answer:
here u can mark the other guy brainliest now. You have to have 2 answers on the question to mark brainliest
Explanation:
The percent change in multifactor productivity if Fok can reduce the energy bill by $1,000 per day without cutting production or changing any other inputs
Answer:
The answer is "2.45%".
Explanation:
The answer of option c:
Reduce power by 950 dollars:
In this question it will need to once again take the latest energy cost for analytical hierarchical productivity.
→ Total Input [tex]= 400 \times 12+21000 \times 1 +(5000-950)+10000[/tex]
[tex]= 4800 +21000 + (4050)+10000 \\\\ = 25800+4050+10000 \\\\ = 39850\\[/tex]
Consumer rates [tex]= \frac{1,000}{39,850}[/tex]
[tex]=0.0250[/tex]
Initial efficiency multi-factor= 0.0245
[tex]\to \text{percentage changes} = \frac{\text{New Multi Factor Productivity - Previous Multi-Factor Productivity}}{\text{Originbal Multi-Factor Productivity}}[/tex]
[tex]= \frac{(0.02450.0251)}{0.0245}\\\\ = 2.45 \ \ \%[/tex]
9.20% is the percent change in multifactor productivity if Fok can reduce the electricity bill by $1,000 per day without cut down production or changing any other inputs.
Computation of percentage change:According to the question,
Reduce power by $950,
For analytical hierarchical productivity, we need to calculate the latest energy.
Total New Input(TNI):
Summation of all the inputs:
[tex]\text{TNI}= 400\times12+\$21,000\times1+(\$5,000-950)+\$10,000\\\\\text{TNI}=\$4,800+\$21,000+\$4,050+\$10.000.\\\\\text{TNI}=\$25,800+\$4,050+\$10,000.\\\\\text{TNI}=\$39,850.[/tex]
[tex]\text{Consumer Rates}=\dfrac{\text{Energy bill per day}}{\text{TNI} }.\\\\\text{Consumer Rates}=\dfrac{1,000}{39,850}.\\\\\text{Consumer Rates}=0.0250.[/tex]
Initial efficiency factor: 0.0245 (as per question)
[tex]\text{Percentage changes}=\dfrac{\text{New multifactor productivity-Previous multifactor productivity}}{\text{Original multifactor productivity}}\\\\\text{Percentage changes}=\dfrac{0.2450-0.0194}{2.45}.\\\\\text{Percentage changes}=9.20\%.[/tex]
Hence, 9.20% is the percent change.
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The agency problem exists primarily in companies of which:__________.
a. ownership is widely dispersed
b. common stock is closely held
c. management has stock ownership
d. both a & c
Answer: a. ownership is widely dispersed
Explanation:
When ownership of a company is widely dispersed, it means that there are few major holders of stock and no majority shareholder.
This can lead to more instances of the Agency problem ( managers acting for their own welfare instead of that of the shareholders) as there will be fewer people able to call the managers to book unilaterally. The managers will therefore feel more empowered to do as they please.
Which approach describes how leaders act?
a. Trait.
b. Skills.
c. Leader-member exchange.
d. Behavioral
Answer:
d. Behavioral
Explanation:
Behavioral approach defines how a leader interact with its followers. It also includes the actions of a leader towards its followers.
In behavioral approach to leadership, anyone can become a leader if they want to, but such leader trainings and observations for effective leadership. The behavioral approach centers on interpersonal relationship between a leader and its followers. There is also an aspect of behavioral approach - task behavior which focuses on workers achieving set targets at workplace while relationship behavior help workers feel safe and comfortable by their leaders in their place of work.
An example of a capital budgeting decision is deciding: Group of answer choices how many shares of stock to issue whether or not to purchase a new machine for the production line. how to refinance a debt issue that is maturing. how much inventory to keep on hand. how much money should be kept in the checking account.
Answer:
whether or not to purchase a new machine for the production line
Explanation:
Capital budgeting decision is the process by which a company sets aside money for the purchase of capital assets such as new machinery, new plants, research and development, and new product.
Capital budgeting is considered to be both a financial decision and an investment decision. Apart from cost incurred by making a purchase, the company considers the future cash flows the capital asset will generate.
Purchasing a new machine for the production line is a capital budgeting decision
The City of Willford levies a flat 7% tax on individual income in excess of $55,000. Individuals who earn $55,000 or less pay no income tax. Ms. Vello earned $127,200 income this year. Compute her city income tax and determine her average tax rate. Mr. Sui earned $68,900 income this year. Compute his city income tax and determine his average tax rate. Does Willford have a proportionate, progressive, or regressive tax rate structure?
Answer:
Explanation:
• Ms. Vello earned $127,200 income this year. Compute her city income tax and determine her average tax rate.
Ms. Vello's tax is calculated as:
= $72,200 × 7%
= $72000 × 0.07
= $5054
Her average tax rate will be:
= $5,054/$127,200
= 3.97%
• Mr. Sui earned $68,900 income this year. Compute his city income tax and determine his average tax rate.
Mr. Sui's tax will be:
= $13,900 × 7%
= $13900 × 0.07
= $973
His average tax rate will be:
= $973/$68,900
= 1.41%
• Does Willford have a proportionate, progressive, or regressive tax rate structure
Willford has a progressive tax rate. This is because as the base rises, the tax rate also increases. The higher the income, then the higher the tax rate will also be.
The exchange rate for a nation's currency will usually remain constant or increase if
the supply of currency increases, but the demand does not.
the balance of payments is favorable.
the balance of payments is unfavorable.
inflation increases.
Answer:
B. The balance of payments is favorable
Explanation:
A small company wishes to set up a fund that can be used for technology purchases over the next 6years.Their forecast is for $24,000 to be needed at the end of year1,decreasing by $2,000 each year there after.The fund earns 15 percent peryear.Howmuch money must be deposited to the fund at the end of year 0 to just deplete the fund after the last withdrawal
Answer:
The company should deposit $74,954.02
Explanation:
We have an annuity with a variable installment with arithmetic progression.
[tex](a_1+\frac{d}{r} +d \times n) \times \frac{1-(1+r)^{-time} }{rate} - \frac{d \times n}{r}[/tex]
We plug our values:
C = 24,000
r = -2,000
r = 0.15
n = 6
And we get a PV of 74,954.02
We can build the table to verify:
Beginning Interest Tech payment Endng
1 74,954.02 11,243.11 24,000.00 62,197.14
2 62,197.14 9,329.58 22,000.00 49,526.72
3 49,526.72 7,429.01 20,000.00 36,955.73
4 36,955.73 5,543.36 18,000.00 24,499.09
5 24,499.09 3,674.87 16,000.00 12,173.96
6 12,173.96 1,826.10 14,000.00 0.06
(there is a 6 cent mistake due to rounding but without it It will be zero-out)
The Mifflin Cable store in Buffalo is currently offering a fabulous marketing strategy for potential new cable and Internet customers. Mifflin Cable offers new customers who purchase a cable and Internet package a DVR, modem, and all other necessary equipment with a two year contract. In terms of Porter's Five Forces what is Mifflin Cable attempting to achieve with this marketing strategy
Answer:
C. Decrease buyer power
Explanation:
Since in the question it is mentioned that the Mifflin Cable store offers a great marketing strategy that the combos of all the things would be based on the two year contract
So this given situation represents the decrease in buyer power as if there is less bargaining power so the company is able to rise the profit that is actually motive of every organization
Therefore the option C is correct
Dave is working on some paperwork for his boss. The company has reported that their estimated indirect labor costs for the year are going to be $130,000, while the direct labor costs for the year will be $200,000. The estimated overhead costs for the year are expected to be $156,000. If overhead is applied based on direct labor cost, what is the predetermined overhead rate for the company?
Answer:
Predetermined manufacturing overhead rate= $1.28 per direct labor dollar
Explanation:
Giving the following information:
Direct labor costs= $200,000.
The estimated overhead costs for the year are expected to be $156,000.
To calculate the predetermined overhead rate, we need to use the following formula:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 200,000/156,000
Predetermined manufacturing overhead rate= $1.28 per direct labor dollar
At the start of the current year, SBC Corp. purchased 25% of Sky Tech Inc. for $46 million. At the time of purchase, the carrying value of Sky Tech's net assets was $62 million. The fair value of Sky Tech's depreciable assets was $10 million in excess of their book value. For this year, Sky Tech reported a net income of $62 million and declared and paid $10 million in dividends. The total amount of additional depreciation to be recognized by SBC over the remaining life of the assets is:
Answer:
The total amount of additional depreciation to be recognized by SBC over the remaining life of the assets is $2,500,000
Explanation:
The total amount of additional depreciation to be recognized by SBC over the remaining life of the assets is:
= $10,000,000 * 25%
= $10,000,000 * 0.25
= $2,500,000