The owner of a small company has 15 employees. Three employees earn R15 000 per month, seven employees earn R10 000 per month and five employees earn R7 000 per month. The owner's monthly salary is R2

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Answer 1

The owner of a small company has 15 employees, where three employees earn R15 000, seven employees earn R10 000 and five employees earn R7 000. The owner's monthly salary is R2.

The total monthly salary bill for the 15 employees can be calculated as follows:3 employees earn R15 000 per month = 3 x R15 000 = R45 0007 employees earn R10 000 per month = 7 x R10 000 = R70 0005 employees earn R7 000 per month = 5 x R7 000 = R35 000Owner's salary = R2 000Total monthly salary bill = R45 000 + R70 000 + R35 000 + R2 000= R152 000

When working in a profession like teaching, law, or medicine, a salary is the money that an employee receives each month from their employer.

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Adjustment for Unearned Fees The balance in the unearned fees account, before adjustment at the end of the year, is $47,800. What is the adjustment if the amount of unearned fees at the end of the yea

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To adjust the unearned fees account from $1,375,000 to $1,100,000, the adjustment involves decreasing the unearned fees account by $275,000 and increasing the fees earned account by the same amount. This adjustment recognizes the revenue earned during the year and leaves the unearned fees to account for a balance of $1,100,000.

To adjust the unearned fees account from a balance of $1,375,000 to $1,100,000, the following adjustment needs to be made:

Unearned fees account:

Decrease: $275,000 ($1,375,000 - $1,100,000)

Fees earned account:

Increase: $275,000

The adjustment reduces the unearned fees account balance by $275,000, reflecting the portion of fees that have been earned during the year. This adjustment is necessary to recognize the revenue that has been earned and should be reported in the fees earned account.

The unearned fees account is decreased by $275,000 because the fees have been earned and are no longer considered unearned. This decrease is reflected as a credit entry in the unearned fees accounts.

Conversely, the fees earned account is increased by $275,000 to recognize the revenue earned during the year. This increase is reflected as a debit entry in the fees earned account.

After the adjustment, the unearned fees account will have a balance of $1,100,000, indicating the remaining unearned fees are yet to be earned in future periods, while the fees earned account will reflect the $275,000 revenue that has been recognized during the year.

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Complete question:

The balance in the unearned fees account, before adjustment at the end of the year, is $1,375,000. What is the adjustment if the amount of unearned fees at the end of the year is $1,100,000? Indicate each account affected, whether the account is increased or decreased, and the amount of the increase or decrease.

Unearned fees - $

Fees earned - $

If Country R has less income inequality than Country T, which of the following must be true?

Country R will have greater wealth overall.

Country T will have greater wealth overall

. Country R will have more people in poverty than Country T.

Country R will have a higher Gini coefficient than Country T.

Country R will have a lower Gini coefficient than Country T.

Answers

Country R will have a lower Gini coefficient than Country T if it has less income inequality.

If Country R has less income inequality than Country T, it means that the distribution of income in Country R is more equal compared to Country T. Based on this information, the following statements can be evaluated:

1. Country R will have greater wealth overall: This statement cannot be determined solely based on the information given. Income inequality does not directly indicate the overall wealth of a country. It is possible for a country with less income inequality to have a lower overall wealth if the majority of the population has lower income levels.

2. Country T will have greater wealth overall: This statement cannot be determined solely based on the information given. Similar to the previous statement, income inequality alone does not determine the overall wealth of a country. Country T could have a higher overall wealth, but still experience higher income inequality.

3. Country R will have more people in poverty than Country T: This statement cannot be determined solely based on the information given. Income inequality does not necessarily correlate with the number of people in poverty. Both countries could have varying poverty rates, regardless of their income inequality levels.

4. Country R will have a higher Gini coefficient than Country T: This statement is incorrect. A lower Gini coefficient indicates less income inequality. Therefore, if Country R has less income inequality, it would have a lower Gini coefficient than Country T.

5. Country R will have a lower Gini coefficient than Country T: This statement is true. As mentioned earlier, less income inequality corresponds to a lower Gini coefficient. Therefore, if Country R has less income inequality than Country T, it would have a lower Gini coefficient.

In conclusion, the correct statement is that Country R will have a lower Gini coefficient than Country T, indicating less income inequality. The other statements cannot be determined solely based on the given information and are not necessarily true.

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Using the equation "i = prt", what is the interest charged on a $2000 loan for 3 years at 6 percent?

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The amount of interest accrued on the $2000 loan over a period of 3 years at an interest rate of 6 percent is $360.

To calculate the interest charged on a loan using the equation "i = prt", where:

i = interest

p = principal amount (loan amount)

r = interest rate per period

t = time in periods

Given:

Principal amount (p) = $2000

Interest rate per period (r) = 6% or 0.06 (decimal form)

Time in periods (t) = 3 years

Plugging in the values into the equation:

i = $2000 * 0.06 * 3

Calculating the expression:

i = $360

Therefore, the interest charged on the $2000 loan for 3 years at 6 percent is $360.

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Julie and Kristen are partners in a local sporting good store. They needed $51,000 to start the
business. They invested in the ratio of 3:10 respectively. How much money did each invest?
What percent is owned by Kristen?

Answers

Answer: See explanation

Explanation:

Since the amount needed to start the

business is $51000 and Julie and Kristen invested in the ratio of 3:10 respectively.

Amount invested by Julie = 3/(3+10) × $51000

= 3/13 × $51000

= $11769.23

Amount invested by Kristen = 10/(3+10) × $51000

= 10/13 × $51000

= $39230.77

The percent that is owned by Kristen will be:

= ($39230.77 / $51000) × 100

= 76.92%

= 77% approximately

2 2.57 points Exercise 6-8 (Algo) Petty cash fund with a shortage LO P2 Waupaca Company establishes a $390 petty cash fund on September 9. On September 30, the fund shows $120 in cash along with receipts for the following expenditures: transportation-in, $50; postage expenses, $62; and miscellaneous expenses, $145. The petty cashier could not account for a $13 shortage in the fund. The company uses the perpetual system in accounting for merchandise inventory. Prepare (1) the September 9 entry to establish the fund, (2) the September 30 entry to reimburse the fund, and (3) an October 1 entry to increase the fund to $450. No 1 2 3 Date September 09 September 30 October 01 Petty cash Cash Merchandise inventory Postage expense Miscellaneous expenses Cash over and short Petty cash Cash Answer is not complete. General Journal 3000 ›› Debit 390 50 ✓ 62 ✓ 145✓ 13✓ 70 x Credit 390✔ 70 x

Answers

To address the situation described, we need to prepare the necessary journal entries for establishing the petty cash fund, reimbursing the fund, and increasing the fund amount.

1. September 9: Establishing the Petty Cash Fund

On September 9, the company establishes the petty cash fund. The entry would typically involve debiting the Petty Cash account and crediting the Cash account for the same amount. In this case, the petty cash fund is set at $390.

Journal entry:

Date: September 9

Account           Debit     Credit

Petty Cash         $390

Cash                       $390

2. September 30: Reimbursing the Petty Cash Fund

On September 30, the petty cash fund is reimbursed to replenish it for the expenditures made during the month. The receipts for transportation-in, postage expenses, and miscellaneous expenses are used to determine the amount to be reimbursed. The petty cashier is unable to account for a $13 shortage in the fund, which is treated as an expense called "Cash Over and Short."

Journal entry:

Date: September 30

Account                           Debit        Credit

Postage Expense           $62

Miscellaneous Expense   $145

Transportation-in                $50

Cash Over and Short              $13

Cash                                  $270

The debits to the expense accounts reflect the nature of the expenses incurred, while the cash over and short amount is recognized as an expense to account for the discrepancy in the petty cash fund. The total debits to the expense accounts amount to $257 ($62 + $145 + $50), and when combined with the cash over and short expense of $13, the total expense reimbursed is $270.

3. October 1: Increasing the Petty Cash Fund

On October 1, the company decides to increase the petty cash fund to $450. This is done by debiting the Petty Cash account and crediting the Cash account for the additional amount.

Journal entry:

Date: October 1

Account      Debit   Credit

Petty Cash    $60

Cash                $60

The debit of $60 to the Petty Cash account increases the fund to $450, while the Cash account is credited for the same amount.

Please note that the missing account information is indicated by "x" in the table provided. In practice, you would need to fill in the appropriate account names for the entries based on the company's chart of accounts.

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The common stock of Pina Inc. is currently selling at $108 per share. The directors wish to reduce the share price and increase share volume prior to a new issue. The per share par value is $10; book value is $70 per share. 8.10 million shares are issued and outstanding. Prepare the necessary journal entries assuming the following. (Enter amounts in dollars. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) (a) The board votes a 2-for-1 stock split. (b) The board votes a 100% stock dividend.

Answers

Journal entries for a 2-for-1 stock split:

To record the stock split:

Date: [Date of stock split]

Debit: Common Stock Dividend Distributable (8.10 million shares x $10 par value)  $81 million

Credit: Common Stock (8.10 million shares x $5 par value)  $40.5 million

Credit: Paid-in Capital in Excess of Par - Common Stock (8.10 million shares x $5 par value)  $40.5 million

Journal entries for a 100% stock dividend:

To record the stock dividend declaration:

Date: [Date of stock dividend declaration]

Debit: Retained Earnings (8.10 million shares x $70 book value per share)  $567 million

Credit: Common Stock Dividend Distributable (8.10 million shares x $10 par value)  $81 million

Credit: Paid-in Capital in Excess of Par - Common Stock (8.10 million shares x $60)  $486 million

To record the distribution of stock dividend:

Date: [Date of stock dividend distribution]

Debit: Common Stock Dividend Distributable (8.10 million shares x $10 par value)  $81 million

Credit: Common Stock (8.10 million shares x $10 par value)  $81 million

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Stock A has a beta that is lower than B's, but A's STD (standard deviation) is higher than B's. If you are a strict risk minimizer, you would choose Stock ____ if it is to be held in isolation and Stock if it is to be held as part of a well-diversified portfolio. B, B Not sure ОВ, А O A, A O AB

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Stock A has a beta that is lower than B's, but A's STD (standard deviation) is higher than B's. If you are a strict risk minimizer, you would choose Stock A if it is to be held in isolation and Stock if it is to be held as part of a well-diversified portfolio.

The correct answer would be Stock A.

If you are a strict risk minimizer, you would choose Stock B if it is to be held in isolation and Stock A if it is to be held as part of a well-diversified portfolio.

When considering stocks in isolation, the lower beta of Stock A indicates that it has lower systematic risk compared to Stock B. Systematic risk represents the portion of a stock's risk that is related to market movements. As a strict risk minimizer, choosing Stock A in isolation would be preferable because it has lower exposure to market fluctuations.

However, when considering stocks as part of a well-diversified portfolio, other factors come into play. The higher standard deviation of Stock A suggests higher total risk, which includes both systematic and unsystematic risks. Unsystematic risk is the risk that can be diversified away by combining multiple assets in a portfolio. By diversifying, the unsystematic risk of individual stocks is mitigated, and the focus shifts towards reducing systematic risk.

In this scenario, Stock B with a lower beta would contribute less to the systematic risk of the portfolio. By including Stock A with a higher standard deviation in a well-diversified portfolio, the diversification benefits can help reduce the overall risk of the portfolio, making Stock A a suitable choice.

Therefore, for a strict risk minimizer, choosing Stock B in isolation and Stock A as part of a well-diversified portfolio aligns with the objective of minimizing risk.

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Explain why expectations of future output, tax and interest rates make the IS curve steeper.

Suppose there is trade tension between Australia and its major trading partners. As a result, a higher tariff will be placed on Australian exports. Use the IS-LM and AS-AD framework to analyze the effects of this trade tension on the Australian economy. (hint: Australian net exports would fall)

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The IS curve is the combination of all of the various combinations of output and interest rates that lead to an equilibrium in the goods and services market, while the LM curve shows all of the possible combinations of output and interest rates that make the money market balance.

The steepness of the IS curve is determined by the slope of the consumption and investment schedules.In terms of the IS curve, when expectations of future output are high, it will cause firms to be more optimistic and will therefore increase their current investment levels. As a result, the IS curve will be steeper. When tax rates rise, households have less money to spend, causing a decline in consumption spending and a shift in the IS curve to the left. Finally, an increase in interest rates will cause consumption and investment expenditures to decrease, and the IS curve will shift to the left.

All of these factors contribute to the steepness of the IS curve.When tariffs are imposed on Australian exports, the country's net exports will decrease.

This will cause a leftward shift in the aggregate demand (AD) curve. As a result, the equilibrium output and interest rate will decrease. As a result, the economy will experience a decrease in GDP and a decrease in the interest rate. The IS-LM model can also be used to analyze the effects of trade tension on the economy.

The IS curve would shift to the left, as mentioned earlier. The LM curve, on the other hand, will not shift because monetary policy has remained constant. As a result, the interest rate will fall, causing the money market to shift to the right. As a result, the equilibrium level of output will fall, causing the LM curve to shift to the left to re-establish equilibrium in the money market.

As a result, the economy will fall further below full-employment equilibrium.Finally, the AS-AD framework can be used to analyze the impact of trade tension on the Australain economy. A leftward shift in the AD curve will cause the short-run aggregate supply (SRAS) curve to shift to the left as well. The economy will experience a decrease in output and an increase in price levels as a result of this.

As a result, the economy will be stuck in a recessionary gap until the SRAS curve shifts back to its original position. As a result, the economy's level of output will rise, and the price level will fall.

In conclusion, when expectations of future output, tax, and interest rates rise, the IS curve becomes steeper. When tariffs are imposed on Australian exports, the country's net exports will decrease, causing a leftward shift in the AD curve. The IS-LM and AS-AD models can be used to analyze the impact of trade tension on the Australian economy. The economy will fall into a recessionary gap as a result of trade tension.

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Suppose a firm under perfect competition has the following total cost function: TC = 2q+0.5q² and a marginal cost of MC=2+q If the market price is $2 then this firm will make $ in profit and should the industry +2, stay -2, exit -4, exit O 0, stay

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The firm being under perfect competition having a total cost function of TC = 2q+0.5q² and marginal cost of MC=2+q , the firm will make a profit of $0 and the industry should stay. The correct answer is option D.

The firm under perfect competition has the following total cost function:

TC = 2q+0.5q² and a marginal cost of MC=2+q;

The market price is $2.

For perfect competition, if the market price is equal to the marginal cost, then the firm will be making only normal profit.

Let's put these values in the given information.

Since the marginal cost is MC = 2+q, and the total cost function is TC = 2q+0.5q². The average total cost (AC) is given by AC = TC/q

Let's substitute the given values:

AC = (2q + 0.5q²)/q = 2 + 0.5q

Now, since AC = price in perfect competition, we get2 + 0.5q = 2 => 0.5q = 0 => q = 0

We need to determine the profit of the firm:

Profit = total revenue - total cost

Revenue = price * quantity sold = 2 * 0 = 0

Total cost = TC = 2q+0.5q² = 2 * 0 + 0.5 * 0 = 0

Therefore, profit = 0 - 0 = 0

The industry is in perfect competition, where the firms make only normal profit.

Hence, the answer is (d) $0, stay.

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Which of the following is true of the opening time of a business?
a.The opening of a new business does not depend on the competitors' moves
b.The timing of start is a function of the general environment and lifestyle issues.
c.Entrepreneurs should realize that businesses depend on similar conditions for opening.
d.One should open a business during or at the beginning of a recession.

Answers

The timing of the opening of a business is influenced by various factors, including competitors' moves, the general environment, lifestyle issues, and economic conditions.

b. The timing of start is a function of the general environment and lifestyle issues: This statement is true. When deciding on the opening time of a business, entrepreneurs often consider factors such as market conditions, consumer behavior, economic trends, and lifestyle preferences. They analyze the general environment to determine the optimal time to launch their business and align it with customer needs and trends.

a. The opening of a new business does not depend on the competitors' moves: This statement is not necessarily true. Competitors' actions and market dynamics can influence the decision to open a new business. Entrepreneurs need to assess the competitive landscape, including the actions of existing businesses and potential competitors, to determine the viability and differentiation of their own venture.

c. Entrepreneurs should realize that businesses depend on similar conditions for opening: This statement is not entirely accurate. While some businesses may have similar considerations for opening, such as market demand or economic factors, every business is unique, and the specific conditions for opening can vary widely depending on the industry, target market, business model, and other factors.

d. One should open a business during or at the beginning of a recession: This statement is not universally true. The decision to open a business during a recession depends on various factors, including the nature of the business, market conditions, available resources, and risk tolerance. While some opportunities may arise during economic downturns, opening a business during a recession can also present challenges and risks.

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Which of these is NOT an earning category on a paystub?
A. Holiday
B. Regular
C. Medicare
D. Overtime
What section of Form I-9 is completed only in certain circumstances?
A. Section 1 (employee information portion)
B. Section 1 (attestation portion)
C. Section 2
D. Section 3

Answers

The answer is C. Medicare is not an earning category on a paystub.

A paystub typically provides a breakdown of an employee's earnings and deductions. The earning categories represent different types of income or compensation received by the employee. Common earning categories include regular wages, overtime pay, holiday pay, and various types of bonuses or commissions.

Medicare, on the other hand, is not an earning category but a deduction category. It represents the amount deducted from the employee's earnings for Medicare taxes, which help fund the healthcare program for eligible individuals.

Regarding the second question, the answer is D. Section 3 of Form I-9 is completed only in certain circumstances. Form I-9 is used to verify the identity and employment authorization of individuals hired for employment in the United States. Section 1 of the form is completed by the employee, providing personal information and attesting to their employment eligibility. Section 2 is completed by the employer or authorized representative, who verifies the employee's documentation.

Section 3 of Form I-9 is used for reverification and updating employment authorization in specific cases such as when an employee's work authorization document expires, or when their employment authorization is subject to temporary status or limited duration.

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Find functions f and g so that fog=H.
H(x) = (4x+6)^7

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By defining functions,  f(x) = 4x + 6 and g(x) = x⁷, we achieve the desired composition fog = H(x) = (4x + 6)⁷.

Let's find functions f and g such that fog = H, where H(x) = (4x + 6)⁷.

To achieve this, we can decompose the function H(x) into two steps: the inner function f and the outer function g.

First, we can define the inner function f(x) as f(x) = 4x + 6. This function takes the input x, multiplies it by 4, and adds 6.

Next, we define the outer function g(x) as g(x) = x⁷. This function raises its input to the power of 7.

Now, if we take the composition of f and g, we have fog(x) = g(f(x)) = g(4x + 6).

Applying the outer function g to the inner function f, we have fog(x) = (4x + 6)^7, which is the same as H(x).

Therefore, we achieve the desired composition fog = H(x) = (4x + 6)⁷.

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The following book and fair values were available for Westmont Company as of March 1. Book Value Fair Value Inventory $ 450,250 $ 413,750 Land 785,250 1,091,250 Buildings 1,920,000 2,292,750 Customer relationships 0 846,000 Accounts payable (109,500 ) (109,500 ) Common stock (2,000,000 ) Additional paid-in capital (500,000 ) Retained earnings, 1/1 (399,500 ) Revenues (433,500 ) Expenses 287,000 Arturo Company pays $3,460,000 cash and issues 29,100 shares of its $2 par value common stock (fair value of $50 per share) for all of Westmont’s common stock in a merger, after which Westmont will cease to exist as a separate entity. Stock issue costs amount to $29,600 and Arturo pays $50,800 for legal fees to complete the transaction. Prepare Arturo’s journal entries to record its acquisition of Westmont. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

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Westmont Company had book and fair values of various items as of March 1. The fair values of inventory, land, and buildings were more than the book value, whereas the fair value of customer relationships was less than the book value. In a merger.

Arturo Company pays $3,460,000 cash and issues 29,100 shares of its $2 par value common stock (fair value of $50 per share) for all of Westmont’s common stock. The stock issue costs and legal fees to complete the transaction are $29,600 and $50,800, respectively.

Journal Entries:

Date Accounts and Explanation Debit Credit Mar.

1. Inventory$413,750Land$1,091,250Buildings$2,292,750Customer relationships$846,000Accounts payable$109,500Common stock ($2 par)$2,000,000Additional paid-in capital$500,000Retained earnings, 1/1$399,500Revenues ($433,500 - $287,000)146,500Expenses$287,000

Gain on sale of assets ($4,000)($329,750)To record the fair value of assets and liabilities (excluding common stock).Mar. 1Goodwill$2,147,550Accounts payable$109,500Cash$3,460,000Common stock ($2 par value)58,200

Additional paid-in capital$1,407,400.

To record the acquisition of Westmont Company. Mar. 1Legal fees expense$50,800Cash$50,800To record legal fees. Mar. 1Stock issue cost$29,600Cash$29,600To record stock issue costs.

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which of the following costs is an example of a fixed cost? question content area bottom part 1 a. delivery costs b. direct materials c. sales commissions d. salary of plant manager

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The following costs are an example of fixed costs is the salary of the plant manager.

The option (D) is correct.

Fixed costs are expenses that don't shift with the degree of creation or deals. The plant supervisor's compensation is normally a foreordained sum that stays steady no matter what the volume of creation or deals. Conveyance costs, direct materials, and sales commissions.

It recurs in the same amount per period over the valuable lifetime of a resource and it can't be viewed as a variable expense since it doesn't fluctuate with movement volume. Instances of Fixed costs incorporate quite a few costs, including rental and rent installments, certain pay rates, protection, local charges, premium costs,  depreciation, and some utilities.

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Question 10 A partnership does not pay income tax, however each partner pays tax on his/her income. O True False

Answers

A partnership does not pay income tax, however, each partner pays income tax on his/her income is true.

Partnerships do not have to pay income tax on their income because it is not considered a separate entity by the Internal Revenue Service (IRS). Instead, the profits earned by the partnership are passed through to the partners who are then responsible for paying taxes on their share of the profits on their individual tax returns.

The profits earned by the partnership are split between the partners according to the partnership agreement. Each partner must pay taxes on his or her share of the profits on their personal tax return. The amount of tax paid by each partner is based on their individual tax rate.

Each partner in a partnership is required to report their share of the partnership's profits on their personal tax return and pay taxes based on their individual tax rate.

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What is not true regarding individual demand curve?

a. higher price implies less amount of quality demanded.

b. it can be also considered as a marginal benefit curve.

c. individual curves shows the behaviors of suppliers.

d. downward sloping.

Answers

The statement that is not true regarding individual demand curve is that "individual demand curve shows the behaviors of suppliers."

So, this is option C.

What is a demand curve?

The graphical representation of the relationship between the quantity of goods demanded and their respective prices is known as a demand curve. It's a model that shows the relationship between price and quantity demanded.

The demand curve's downward slope indicates that the higher the price, the less the quantity of goods that will be demanded, whereas the lower the price, the greater the quantity of goods that will be demanded.

Therefore, the statement "higher price implies less amount of quantity demanded" is true.A marginal benefit curve can be considered a demand curve. It reflects the quantity of a good that a consumer is ready to purchase at various prices

Hence, the answer is c.

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The statement that is not true regarding individual demand curve is individual curves shows the behaviors of suppliers. Option c is correct.

In economics, a demand curve is a graphical representation of the demand for a good or service. It represents the relationship between the price of a good or service and the quantity demanded of it at any given time, holding all other factors constant.

The marginal benefit curve represents the additional benefit that an individual receives from consuming one more unit of a good or service. The individual demand curve is essentially a graphical representation of the marginal benefit curve for a given individual. It shows how the marginal benefit of a good or service varies as its price changes.

Therefore, c is correct.

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*Use the high-low method*
Mason Company uses the high-low method to predict its total
overhead costs. Past records show that total overhead cost was
$25,000 for 800 labour hours worked and $27,500 for

Answers

The expected total overhead cost for working 825 labor hours next month is $25,625.

To calculate the expected total overhead cost using the high-low method, we need to determine the variable cost per labor hour and the fixed cost component.

First, we calculate the variable cost per labor hour:

Variable cost per labor hour = (High cost - Low cost) / (High hours - Low hours)

= ($27,500 - $25,000) / (900 hours - 800 hours)

= $2,500 / 100 hours

= $25 per labor hour

Next, we determine the fixed cost component using the high or low data point. Let's use the high data point:

Fixed cost = High cost - (Variable cost per labor hour × High hours)

= $27,500 - ($25 per labor hour × 900 hours)

= $27,500 - $22,500

= $5,000

Now, we can calculate the expected total overhead cost for 825 labor hours:

Expected total overhead cost = Fixed cost + (Variable cost per labor hour × Expected labor hours)

= $5,000 + ($25 per labor hour × 825 hours)

= $5,000 + $20,625

= $25,625

Therefore, the expected total overhead cost for working 825 labor hours next month is $25,625. This estimation is based on the assumption that the relationship between labor hours and overhead costs remains consistent within the relevant range identified by the high and low data points.

Note:The Complete question is:

*Use the high-low method*

Mason Company uses the high-low method to predict its total overhead costs. Past records show that total overhead cost was $25,000 for 800 labour hours worked and $27,500 for 900 labour hours worked.

If Mason Company plans to work 825 labour hours next month, what is the expected total overhead cost?

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You are given the following information for Calvani Pizza Co.: sales = $49,902; costs = $21,889; addition to retained earnings = $7,227; dividends paid = $2,724; interest expense = $2,375; tax rate = 30 percent. Calculate the depreciation expense. =

Answers

The depreciation expense for Calvani Pizza Co. is $10,028.90.

The depreciation expense can be calculated using the following formula:

Depreciation expense = (Sales - Costs - Addition to retained earnings - Dividends paid - Interest expense) x (1 - Tax rate)

In the given information:

Sales = $49,902

Costs = $21,889

Addition to retained earnings = $7,227

Dividends paid = $2,724Interest expense = $2,375

Tax rate = 30%

Substituting these values in the formula, we get:

Depreciation expense = (49902 - 21889 - 7227 - 2724 - 2375) x (1 - 0.30)

Depreciation expense = $14,327 x 0.70

Depreciation expense = $10,028.90

Therefore, the depreciation expense for Calvani Pizza Co. is $10,028.90.

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Identify the answer that BEST completes the statement or answers the question. Pomona Inc. uses the aging method in accounting for uncollectible accounts. On March 31, the company wrote off a $2,600 account. What effect does the write-off have on the company's financial statements?

Select one:

a. Increases and decreases assets by the same amount of $2,600.

b. Decreases bad debt expense and total assets by $2,600.

c. Increases total assets and decreases shareholders' equity by $2,600.

d. Decreases shareholders' equity and total assets by $2,600.

Answers

The write-off has no effect on total assets but decreases net income and shareholders' equity by $2,600.

Accounts receivable is the amount of money a company is owed by customers for products or services they have purchased on credit. When a customer defaults on payment, the company may decide to write off the debt as uncollectible. This means removing the debt from the accounts receivable balance. Pomona Inc. uses the aging method in accounting for uncollectible accounts. This means that they estimate the amount of bad debt based on the age of each accounts receivable account.When a company writes off an account, it has no effect on the total assets. However, it does decrease net income and shareholders' equity by the amount of the write-off. Therefore, the write-off decreases shareholders' equity and total assets by $2,600.

Investors' value is the sum that the proprietors of an organization have put resources into their business. This incorporates the cash they've straightforwardly contributed and the amassing of pay the organization has procured and that has been reinvested since commencement.

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FILL THE BLANK. "4. A firm's year-end retained earnings balances are $650,000 and
$530,000, for 2019 and 2020 respectively. The firm paid $15,000 in
dividends in 2020. The firm's net profit after taxes in 2020 was
___"

Answers

To determine the net profit after taxes in 2020, we need to calculate the change in retained earnings from 2019 to 2020, taking into account the dividends paid.

Change in Retained Earnings = Retained Earnings 2020 - Retained Earnings 2019

Change in Retained Earnings = $530,000 - $650,000

Change in Retained Earnings = -$120,000

The change in retained earnings represents the net profit after taxes for 2020. Therefore, the net profit after taxes in 2020 is -$120,000.

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Question 2 For a given unit of labor, a country can produce either 78 bushels of wheat or 159 pounds of coffee. What is the country's opportunity cost of producing wheat in terms of coffee? Round your final answer to two decimal places (Ex. 0.00). 2.04 A Moving to another question will save this response.

Answers

The country's opportunity cost of producing wheat in terms of coffee is approximately 2.04.

To find the opportunity cost of producing wheat in terms of coffee, we need to determine how much coffee the country would have to give up in order to produce one unit of wheat.

The ratio of wheat to coffee production is 78 bushels of wheat to 159 pounds of coffee. We can calculate the opportunity cost by dividing the amount of coffee by the amount of wheat:

Opportunity cost of producing wheat in terms of coffee = 159 pounds of coffee / 78 bushels of wheat

Calculating this value:

Opportunity cost = 159 / 78 ≈ 2.04

Therefore, the country's opportunity cost of producing wheat in terms of coffee is approximately 2.04.

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Joanne and Melvin are putting the finishing touches on their 6cottages that they have recently built on their rural property in Southern Queensland. Each cottage is fully self-contained and sleeps up to 4 people. The cottages have amazing views over the nearby national park and immediate access to some of the region’s best bush walking trails. Joanne and Melvin are ready to prepare their marketing and promotional activities. Initially they plan to focus on middle income earners who reside in Queensland. They believe the cottages will appeal to all ages couples as well as families. However, they need to know more about their market so they can effectively position their cottages within a somewhat competitive market place.
a) While Joanne and Melvin have considered demographic and geographic segmentation criteria what other two criteria would you recommend they consider prior to promoting their cottages and why?

Answers

Besides the demographic and geographic segmentation criteria, Joanne and Melvin should consider the psychographic and behavioral segmentation criteria for promoting their cottages.

Psychographic segmentation criteria are a type of market segmentation that considers consumer lifestyles, personality characteristics, values, attitudes, interests, and behavior. By using psychographic segmentation, Joanne and Melvin can develop a more detailed picture of their customers' needs, motives, and behaviors. This will enable them to design marketing campaigns and promotional activities that will appeal to their customers. For example, if they find that their target market is more interested in eco-tourism, they could focus their promotions on eco-friendly and sustainable features and highlight their eco-friendly practices such as recycling and water conservation. Behavioral segmentation is a type of market segmentation that considers customers' purchasing behavior, usage rate, loyalty, and readiness to buy.

By using behavioral segmentation, Joanne and Melvin can develop marketing campaigns that will be more effective in targeting their customers. For example, if they find that their customers are more likely to stay for longer periods of time, they could offer package deals or discounts for longer stays. Similarly, if they find that their customers prefer to book online, they could offer online booking discounts or exclusive online promotions. Overall, considering psychographic and behavioral segmentation criteria can help Joanne and Melvin to more effectively position their cottages within a competitive marketplace.

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The expected return for the general market is 15%, and the risk premium is 10%. The beta of Ncell is 1.25. What is the required rate of return for Ncell? O 23.75% O 11.25% O 12.50% O 17.50%

Answers

Given data:Expected return for the general market = 15%Risk premium = 10%Beta of Ncell = 1.25Formula:Required rate of return = Risk-free rate + (Market return - Risk-free rate) × Beta cell is the company.

Beta is 1.25. Beta is the risk of Ncell relative to the market. We are given the expected return for the market, which is 15%, and the risk premium, which is 10%. The risk-free rate is not given, we can assume it is 5%.We can use the formula for required rate of return which is,Required rate of return = Risk-free rate + (Market return - Risk-free rate) × BetaRequired rate of return = 5 + (15 - 5) × 1.25Required rate of return = 5 + 10 × 1.25Required rate of return = 5 + 12.5Required rate of return = 17.5%Hence, the required rate of return for Ncell is 17.5%.

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What is the difference between the interpretations of parameters of a linear model, semi-log model, and log-log model?

Answers

The difference between the interpretations of parameters of a linear model, semi-log model, and log-log model are given below:

Linear model:In the case of a linear model, the equation is given by y = β0 + β1x1 + ε

where y is the dependent variable and x1 is the independent variable. β0 is the y-intercept or the point where the line crosses the y-axis when x1 equals 0. β1 is the slope of the line or the amount that y changes for a one-unit increase in x1.

Semi-log model:In the case of a semi-log model, the equation is given by ln(y) = β0 + β1x1 + ε

where y is the dependent variable and x1 is the independent variable. β0 is the point where the line intersects the y-axis when x1 equals 0. β1 is the elasticity of y with respect to x1 or the percentage change in y for a one-unit increase in x1.

Log-log model:In the case of a log-log model, the equation is given by ln(y) = β0 + β1ln(x1) + ε

where y is the dependent variable and x1 is the independent variable. β0 is the point where the line intersects the y-axis when x1 equals 1. β1 is the elasticity of y with respect to x1 or the percentage change in y for a one percent increase in x1.

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Bob and Nancy live in a new housing development and they would like to have fire hydrants installed. The table Marginal Benefit of Fire Hydrants shows Bob's and Nancy's individual marginal benefits of different quantities of fire hydrants. Suppose that the marginal cost of installing a hydrant is $10. Table: Marginal Benefit of Fire Hydrants Number of Bob's Nancy's Individual Fire Hydrants in the Neighborhood Individual Marginal Benefit Marginal Benefit 0 $16 14 12 8 8 4 4 5 0 The optimal number of fire hydrants in the neighborhood is L 2 3

Answers

The ideal number of fire hydrants for the area is two.

To determine the optimal number of fire hydrants in the neighborhood, we need to compare the marginal benefits and marginal costs of installing each additional fire hydrant.

Using the given table, let's calculate the net marginal benefit for each quantity of fire hydrants:

Number of         | Bob's Marginal    |  Nancy's Marginal   Net Marginal

Fire Hydrants              Benefit               Benefit                    Benefit

   

0                       | $16                    | $14                     | $0

1                       | $12                    | $8                      | $10

2                       | $8                     | $4                      | $12

3                       | $4                     | $5                      | $9

The net marginal benefit is calculated by subtracting the marginal cost ($10) from the sum of Bob's and Nancy's individual marginal benefits.

From the table, we can see that the net marginal benefit is highest at 2 fire hydrants. At this quantity, the total net marginal benefit is $12, which is the highest compared to the other quantities.

Therefore, the optimal number of fire hydrants in the neighborhood is 2. Installing more fire hydrants beyond this point would result in a lower net marginal benefit, indicating diminishing returns.

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Temporary, short term unemployment involving workers searching for jobs that await them is called unemployment. 1) frictional. 2) structural. 3) cyclical. 4) demand-pull.

Answers

Temporary, short term unemployment involving workers searching for jobs that await them is called frictional unemployment. Frictional unemployment is a type of unemployment that occurs when people are temporarily out of work.

Because they are changing from one job to another. It's the short-term unemployment experienced by workers who are looking for work that is appropriate for their skills or who are transitioning between careers. A significant portion of the unemployed is composed of frictional unemployment, which is normally considered a positive component of the economy because it indicates the labor market's efficiency in matching employees and employers. The other three types of unemployment are: Structural Unemployment:

This type of unemployment occurs as a result of technological or market changes that render the skills of some workers obsolete. In order to locate new work, these workers require training or a shift in occupations. Cyclical Unemployment: This type of unemployment occurs during economic downturns when aggregate demand is insufficient to provide employment for everyone who wants a job. Demand-pull Unemployment: This type of unemployment occurs as a result of rising prices or inflation, which reduces overall demand and causes layoffs.

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If tax revenues are more than the government expenditures in a year, the budget deficit would be negative.
a. True
b. False

The aggregate supply curve is shifted leftward by an increase in tax rates.

a. True
b. False

Answers

The given statement  If tax revenues are more than the government expenditures in a year, the budget deficit would be negative is False. The correct option is b.

The given statement The aggregate supply curve is shifted leftward by an increase in tax rates is True. The correct option is a.

The given statements are as follows: If tax revenues are more than the government expenditures in a year, the budget deficit would be negative.

The aggregate supply curve is shifted leftward by an increase in tax rates. a. True b. False If tax revenues are more than the government expenditures in a year, the budget deficit would be negative.

The given statement is false as tax revenues being more than the government expenditures leads to a budget surplus. The budget surplus refers to the excess tax revenue over government spending within a fiscal year.

A budget surplus happens when the income earned by the government exceeds its expenditures.

A budget surplus is advantageous because it provides the government with additional funds that it can use to repay its debt.

The aggregate supply curve is shifted leftward by an increase in tax rates. The given statement is true.

Taxation is a method of revenue generation used by governments. An increase in tax rates has an impact on aggregate supply.

The aggregate supply curve shifts to the left when taxes increase. This occurs because as taxes increase, there is less disposable income available to spend on goods and services.

Businesses react to this by producing fewer goods and services, which reduces the overall supply. An increase in taxes, in the short run, causes a shift in the aggregate supply curve towards the left.

As a result, a reduction in the real GDP and an increase in the price level occur.

Therefore, the given statement is true.

Conclusively, the first statement is false, and the second statement is true.

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If the equipment had a salvage value of $300,000 at the end of five years, would you expect the project’s payback period to be higher, lower, or the same?
a)Higher
b)Lower
c)Same

Answers

The project's payback period is the length of time required to recoup the initial investment through cash inflows. In this case, if the equipment has a salvage value of $300,000 at the end of five years, we need to assess the impact on the payback period.

If the equipment has a salvage value, it means that at the end of the project's life (five years in this case), there will be an additional cash inflow of $300,000. This salvage value acts as a reduction in the overall investment needed to be recouped. Therefore, with a salvage value, the project's payback period is expected to be lower. The salvage value effectively reduces the net initial investment and shortens the time required to recover the remaining cash outflows. As a result, the project is expected to generate a positive cash flow sooner, enabling a quicker payback period compared to a scenario without salvage value. Thus, the correct answer is b) Lower.

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Using the information provided below, compute the following:
1. Compute Gross Profit
2. Compute Operating Profit
3. Compute Net Income Selling,
General, and Administrative Expenses $ 302,400
Sales $ 980,000
Depreciation Expense $ 40,000
Cost of Goods Sold $ 516,000
Interest Revenue $ 86,000
Interest Expense 18,000
Income Tax 30,600

Answers

1. Gross Profit: $464,000 2. Operating Profit: $121,600 3. Net Income: $72,000

1. Gross Profit:

Gross Profit is calculated by subtracting the Cost of Goods Sold (COGS) from the Sales Revenue.

Gross Profit = Sales - Cost of Goods Sold

           = $980,000 - $516,000

           = $464,000

Therefore, the Gross Profit is $464,000.

2. Operating Profit:

Operating Profit is derived by subtracting Selling, General, and Administrative Expenses (SG&A) and Depreciation Expense from the Gross Profit.

Operating Profit = Gross Profit - SG&A Expenses - Depreciation Expense

               = $464,000 - $302,400 - $40,000

               = $121,600

Therefore, the Operating Profit is $121,600.

3. Net Income:

Net Income is determined by subtracting Interest Expense, Income Tax, and any other expenses or gains from the Operating Profit. In this case, there is no mention of any additional expenses or gains, so we'll only consider the given information.

Net Income = Operating Profit - Interest Expense - Income Tax

          = $121,600 - $18,000 - $30,600

          = $72,000

Therefore, the Net Income is $72,000.

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Kellogg's Indian Experience: A Failed Launch
In April 1995, Kellogg India Ltd. (Kellogg) received unsettling
reports of a gradual drop in sales from its distributors in Mumbai.
There was a 25% decline

Answers

Kellogg's Indian Experience is a classic case study of a failed launch. Kellogg's entered the Indian market in 1995. The brand was well-established in the United States and many other countries by this time. Despite its reputation for success, Kellogg's Indian Experience did not meet the company's expectations.

The Kellogg's Indian Experience was marked by a slow start, with reports of a gradual drop in sales from its distributors in Mumbai. The company had a difficult time understanding the Indian consumer's tastes and preferences. Kellogg's launched its initial range of breakfast cereals with flavors such as cornflakes, wheat flakes, and wheat bran. However, these flavors were not to the Indian consumer's taste.Kellogg's failed to tailor its products to the Indian market. For example, in India, breakfast is typically a hot meal, with people preferring to eat dishes such as idli, dosa, and paratha. Cold cereal, like Kellogg's, was not a part of the typical Indian breakfast. Moreover, the price point was too high for the average Indian consumer. Kellogg's products were targeted at the upper-middle-class population, which was too small a segment for the company to achieve success in the market. Kellogg's failure to adapt to the local market and the lack of understanding of the Indian consumers' eating habits led to a 25% decline in sales.The Kellogg's Indian Experience provides valuable lessons to companies entering new markets. Understanding the local culture, tastes, and preferences is critical to a successful launch. Companies must tailor their products to meet the local demand and offer them at a price point that is affordable for the target audience.

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Find the P-value P.WW- (Round to three decimal places on nended) Is thorn sufficient evidence that the proportion of families with children under the age of 18 who sat dinner logother seven nights a wook has decreased? Choose the correct answer below O A No, there is not sufficient evidence because the P-value is greater than the love of significance. Therefore, do not reject the nullypothesis OB. No, there is not sufficient evidence because the P-value is greater than the level of significance. Therefore, rojot the null hypothesis OC. Yes, there is sufficient evidence because the P-value is greater than the level of significance. 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