Option D is correct. When a party in a contract fails to perform (e.g. breach of contract, nonperformance, or default) the other party has a variety of remedies. All of the following are remedies that an aggrieved seller may pursue except Sue for specific performance
A judicial appeal to compel the non-compliant seller to uphold the contract is one such remedy. Most people refer to this treatment as suing for specific performance.
A court request for specific performance requires the party that disregarded the consent to do it in full. At the point when no elective cure completely repays the contrary party, the courts might arrange a specific help.
A legally binding cure where the court requires a party to as almost as conceivable complete its responsibility in light of the fact that financial harms are here and there lacking to compensate for the injury. requested most often in circumstances including uncommon belongings and land
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Which of the following statements regarding customer expectations is appropriate for salespeople to remember?
- Many relationships fail due to unmet expectations
- The higher the customer's expectations, the better, provided the seller can meet or exceed those expectations
- Salespeople must be able to manage their customers' expectations
- Customer dissatisfaction is often the result of unmet expectations
- All of the above are correct
Salespeople need to remember the following statement regarding customer expectations:
Many relationship fails due to unmet expectationsThe higher the custmer's expectations, the better, provided the seller can meet or exceed those expectationsSalespeople must be able to manage their customers' expectationsCustomer dissatisfaction is often the result of unmet expectation (E)Customer expectations represent the customers prediction about their experience when they use a product. How a customer build his experience is defined by his perceived performance of the product and how well it meets his expectation.
Customers expectations may come in different kind of types:
Implicit expectationsExplicit expectationsInterpersonal expectationsStatic performance expectationsDynamic performance expectationsDigital expectationsTechnological expectationsSituational expectationsTo improve customers expectations, salespeople should research their target market first. Ensure what expectations the target audiences already have. Utilize personalized marketing strategies based on the marketing research data. Give respon to customers promptly and try to direct them the correct resources that can solve their problems. Use clear communication and simple language. Ensure your customers about their data and privacy protection. Anticipate potential challenges for customers and prepare the contingency plans. Simplify the buying process and provide great experience for customers.
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the association of turkish travel agencies reports the number of foreign tourists visiting turkey and tourist spending by year.14 three plots are provided: scatterplot showing the relationship between these two variables along with the least squares fit, residuals plot, and histogram of residuals. (a) Describe the relationship between number of tourists and spending. (b) What are the explanatory and response variables? (c) Why might we want to fit a regression line to these data? (d) Do the data meet the conditions required for fitting a least squares line? (e) Check assumptions (the same way we did in class)
a) It is blatantly obvious that there is a direct correlation between visitor numbers and spending,
b) The response variable is spending, and the explanatory variable is the number of tourists.
c) Policy decisions are increasingly easier to implement. Depending on the number of visitors, we will be able to anticipate spending in the future.
d) One assumption is that the residuals must have a normal distribution with a mean of zero and a constant variance, whether they are known or unknown.
(a) It is abundantly evident that there is a linear relationship between the number of visitors and spending, with spending rising as the number of visitors rises and falling when the number of visitors is zero. This suggests a relationship along the lines of y=mx, where y is the amount of money spent, x is the number of tourists, and m is the regression coefficient or slope of the line.
(b) The explanatory variable is the Number of Tourists, and the response variable is Spending(y).
(c)
Since the line indicates that expenditure rises as the number of tourists rise, describing the nature of the relationship between the variables will be simple. Making decisions on policies is now more practical.In the future, we will be able to forecast spending depending on the number of tourists.(d) One presumption is that, whether known or unknown, the residuals must follow a Normal distribution with a mean of zero and a constant variance. The third plot's histogram shows that the majority of the residuals are located close to zero.
Only the residuals, which make up the second plot's residual plot, are evenly distributed in the area around zero but are also clustered close to zero, which is a crucial component of a normal distribution with a zero mean.
The histogram demonstrates another characteristic of a normal distribution in that the residual distribution is more or less symmetrical around zero.
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the management of penfold corporation is considering the purchase of a machine that would cost $330,000, would last for 6 years, and would have no salvage value. the machine would reduce labor and other costs by $65,000 per year. the company requires a minimum pretax return of 9% on all investment projects. click here to view exhibit 14b-1 and exhibit 14b-2, to determine the appropriate discount factor(s) using the tables provided. the net present value of the proposed project is closest to (ignore income taxes.)
The net present value of the proposed project is closest to $38,410. Therefore, the first option is the required answer.
The idea of present value holds that money currently is worth more than it will be in the future. In other words, amount earned in the future is not as valuable as money obtained today in the same amount.
The investment return rate used in the present value computation is called the discount rate. In other words, if an investor elected to accept an amount in the future as opposed to the same amount today, the discount rate would be the forgone rate of return. Given that it represents the anticipated rate of return you would experience if you had invested today's money for a period of time, the discount rate that is used for the present value calculation is very arbitrary.
In the given question,
Net present value = Present value of cash inflow - Present value
of cash outflow
= 65,000 x PVIAF (9%, 6 years) - 330,000
= (65,000 x 4.48592) - 330,000
= 291,585 - 330,000
= 38,415
= $38,410
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Complete question:
The management of Penfold Corporation is considering the purchase of a machine that would cost $330,000, would last for 6 years, and would have no salvage value. The machine would reduce labor and other costs by $65,000 per year. The company requires a minimum pretax return of 9% on all investment projects. Click here to view, Exhibit 12B-1 and Exhibit 12B-2, to determine the appropriate discount factor(s) using the tables provided. The net present value of the proposed project is closest to (Ignore income taxes.):
$(38,410)$(8,410) $(103,410) $(329,997)
Advertising Media Alternatives When developing the advertising program, firms must choose between the various forms of media available. Each of the eight common media types has distinct advantages and disadvantages associated with it. Students will identify a strength and weakness for five of the most commonly utilized media types. In deciding where to place advertisements, a company has several media types to choose from and a number of alternatives, or vehicles within each medium. Often advertisers use a mix of media forms and vehicles to maximize the exposure of the message to the target audience while minimizing the costs. To make optimal decisions on media choices, firms must be aware of the types of media available to them as well as understand each medium's strengths and weaknesses. Roll over each item to read the hint. Drag and drop each of the advantages and disadvantages to the appropriate media type, then drag and drop an example of each media type onto the appropriate category. Answers and Descriptions to fill in the blanks. Low cost, local targets Low cost, uses sound, ability to target local audiences Long lead time high cost Long lead time to prepare ad. relatively high cost High cost, low exposure High cost to prepare ads, very short exposure time Lacks visual Lacking visual element, short exposure time Miller Lite Polo Ralph Lauren Credit card offers Running a 30-second advertisement for Miller Lite beer during Sunday Night Football costing nearly $340.000 During his commute on the New York City subway this morning, Samuel noticed an ad for Polo Ralph Lauren cologne inside the subway car. Each day. Sarah receives 3 to 5 credit card solicitation letters in her mailbox. Superior targeting Negative perception High quality color ad. superior targeting ability, can convey complex messages with detail High cost per contact, negative public perception Little targeting Message must be very short/simple, little targeting, traffic hazard Large audience Reaches large audiences using picture, print, sound, and motion Can be personalized Wendy's High selectivity of audience, can be personalized, high quality graphics While driving to campus this morning. Kelly hears a commercial for Wendy's. High visibility Low cost, high visibility, many repeat exposures
Advertising is communicated through a variety of media, including television, print media, radio, direct mail, magazines, yellow pages, online, and offline.
In order to maximize growth within the constraints of their budget, marketers are working to select the optimal media for their marketing from the numerous accessible options. The decision to use a certain medium is complex and depends on a number of factors: target audience's media preferences: The most crucial elements in selecting the appropriate medium are where the target audience goes and what activities and media they engage in.
Products' attributes are Certain products' product attributes determine the media to be used. Radio, for instance, cannot be used as a medium if visual design and colors are the primary aspects of the product. If the item is complicated in.
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FILL IN THE BLANK Companies can identify competitors from a(n) ________ point of view by defining competitors as companies that are trying to satisfy the same customer need or build relationships with the same customer group. A) customer B) blue ocean C) market D) myopic
Companies can identify competitors from a market point of view by defining competitors as companies that are trying to satisfy the same customer need or build relationships with the same customer group. Hence, option C is correct.
What is market?Parties may assemble in a market to make the exchange of goods and services easier. Buyers and sellers are the parties that are often involved.
The market may be physical, such as a physical store where customers can connect with one another face-to-face, or it may be virtual, such as an online marketplace, where buyers and sellers do not directly interact. Some of the key factors that help define a market are the existence of a marketplace, buyers, and sellers.
Thus, option C is correct.
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financial analysts have estimated the returns on shares of drucker corporation and the overall market portfolio under various economic conditions as follows. the return for drucker in the following three economic states of nature are forecasted to be: -18% in recession, 10% in moderate growth, and 30% in a boom. estimates for the market as a whole in the same economic states are -9% in recession, 8% in moderate growth, and 23% in boom. the analyst considers each state to be equally likely. using these data, compute the beta of drucker corporation's stock.
The beta of Drucker Corporation's stock Beta is 0.14.
The beta of Drucker Corporation's stock can be calculated using the following formula:
Beta = (Covariance of Drucker Corporation's returns and the market's returns) / (Variance of the market's returns)
Using the data provided, we can calculate the beta of Drucker Corporation's stock by first calculating the covariance and variance of the market's returns, and then calculating the covariance of Drucker Corporation's returns and the market's returns.
Covariance of the market's returns = ( (-9% - 0%) + (8% - 0%) + (23% - 0%) ) / 3 = 8%
Variance of the market's returns = ( (-9% - 0%)^2 + (8% - 0%)^2 + (23% - 0%)^2 ) / 3 = 99%
Covariance of Drucker Corporation's returns and the market's returns = ( (-18% - 0%) + (10% - 0%) + (30% - 0%) ) / 3 = 14%
Therefore, Beta = 14% / 99% = 0.14
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scenario 10-1 the demand curve for gasoline slopes downward and the supply curve for gasoline slopes upward. the production of the 1,000th gallon of gasoline entails the following: a private cost of $3.10 a social cost of $3.55 a value to consumers of $3.70 refer to scenario 10-1. suppose the equilibrium quantity of gasoline is 1,150 gallons; that is, qmarket
Refer to Scenario 10-1. The production of the 1,000th gallon of gasoline entails an a. external cost of $0.15 b. external cost of $0.45 c. external benefit of $0.15. d. external benefit of S0.45.
The downward sloping demand curve serves as an example of the law of demand. This illustrates the idea that when prices rise, fewer goods are sought.
What gasoline slopes downward indicate external cost?As a result, prices will drop and demand will increase when there is a larger supply. Therefore, buyers will want more goods when prices are lower. For this reason, the demand curve has a decreasing slope.
The demand (or marginal benefit) curve has a downward sloping shape to reflect the fact that consumers will pay less for additional units of a good as they consume more of it.
Therefore, do all demand curves slope downward and the Law of Demand always apply? The answer, in plain terms, is no. According to the consumers' actions, the curve will either be upward or downward sloping.
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given that the costs of mounting a fever are less than the benefits, the principle of asymmetric harm predicts that natural selection should result in which of the following? group of answer choices fevers only occur when an infection has progressed far enough that a fever will be necessary to help clear it. a fever response is mounted more often than it is actually needed to help defend against an infection. frequent cases where fevers would be beneficial but a fever response is not mounted evolution of lower basal body temperatures
More often than necessary, a fever response is initiated to aid in the defense against an illness.
What happens when you have a fever in your body?You frequently feel cold and begin to shiver in the early stages of a fever. This is your body's reaction to a temperature increase. Your skin's blood vessels contract (constrict), driving blood from the skin's outer layer into your body, where it is simpler to trap heat.
What is a fever a normal reaction?If your child is getting enough fluids and is otherwise healthy, you may typically let a fever run its course because it is the body's natural defense against illness. Try to bring down your child's temperature if they are having problems drinking.
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elvira is a self-employed taxpayer who turns 42 years old at the end of the year (2022). in 2022, her net schedule c income was $130,000. this was her only source of income. this year, elvira is considering setting up a retirement plan. what is the maximum amount elvira may contribute to the self-employed plan in each of the following situations? note: round your intermediate calculations and final answers to the nearest whole dollar amount.
As per the retirement plan, the maximum amount Elvira may contribute to the self-employed plan is $48,000
The term retirement plan in accounting refers preparing today for your future life so that you continue to meet all your goals and dreams independently.
Here we have given that Elvira is a self-employed taxpayer who turns 42 years old at the end of the year (2022).
Now, we need to find the the maximum amount Elvira may contribute to the self-employed plan.
While we looking into the given question, we know that her income was $130,000.
So, as per the 10% Rule, let us consider that the she will save 10% of her income for the retirement plan.
Then the amount is calculated as,
=> 130,000 x 10/100
=> 13,000 for the month.
Therefore, for one year she will save the maximum amount of
=> 13000 x 12
=> 156,000
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FILL IN THE BLANK. the___is a flexible planning tool that assists the salesperson in assembling pertinent information to be covered with the prospect
The sales dialogue template is a flexible planning tool that assists the salesperson in assembling pertinent information to be covered with the prospect.
A sales dialogue is the term used to describe the interactive communication process that takes place between a buyer and a seller as each side attempts to define and comprehend the needs of the other and how the suggested solution will satisfy those needs.
Nine sections make up the Sales Dialogue Template: (1) prospect information; (2) customer value proposition; (3) sales call objective; (4) situation and needs analysis—linking buying motives, benefits, support information, and other reinforcement methods; (5) competitive situation; (6) starting the sales dialogue; (7) anticipating questions and objections; (8) earning prospect commitment; and (9) building value through follow-up action. This sample shouldn't be used to create a strict sales call script. When used appropriately, it can assist salespeople in making sure that they are ready to talk to customers about all relevant information.
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At Nick's Bakery, the cost to make homemade chocolate cake is $4 per cake. As a result of selling five cakes, Nick experiences a producer surplus in the amount of $17.50. Nick must be selling his cakes for
7.50 each (17.50/5= 3.5 ..... 3.5+4= 7.50)
If Nick generates a $17.50 producer surplus, the price per chocolate cake will be $7.50.
$4 each cake, multiplied by five, equals $20 as the minimum amount to accept.
$14.50 is the producer surplus
$20+
$17.50= $37.50 Price A price of $37.50 gets you 5 chocolate cakes, making each one $7.50.
The discrepancy between what a producer receives and the least price they would be willing to take for the good is what is referred to as producer surplus.
A person's ability to profit from selling a good at market value is measured by their producer surplus. The profit to the producer for selling the good on the market is the difference or surplus amount.
Market pricing above the lowest price producers would typically be ready to pay for their products result in a producer surplus. The law of Walras might be relevant here.
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________________ is the extent to which employees have positive or negative feelings about various aspects of their work.
A. Job satisfaction
B. Job performance
C. Job enrichment
D. Job involvement
E. Organizational commitment
Job satisfaction, is the extent to which employees have positive or negative feelings about various aspects of their work. Thus, option (a) is correct.
What is employees?The term employee refers to the work in the company to earn the money. The employee is the provided the services to the company with exchange of the salary. The employees are the work with the unity are the increased the wealth of the company.
According to the employees have positive or negative feelings are the job satisfaction. The job satisfaction are the employees are the satisfy the job. An employee is the freely work and the manage the work are the easily to satisfy the job.
As a result, Job satisfaction is the degree to which individuals have favorable or negative attitudes about different aspects of their work. Therefore, option (a) is correct.
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maytag's front-loading neptune washer provides superior cleaning and energy efficiency. the neptune washer is an example of a product. group of answer choices pleasing salutary deficient nondurable desirable
The Neptune washer is an example of a desirable product. a term used by societal marketers in product classification to describe any good or service that provides both immediate satisfaction and long-term benefits.
"Socially desirable FMCG" refers to products that are characterised by social pressure to purchase for environmental reasons. The authors do not consider whether the production procedures are environmentally friendly or not. Brand desire is defined as having a product or service that consistently improves people's lives. A prospect must want what you have in order to be willing to pay you perfectly good money for what you have. You're wasting your time and money if your marketers activities don't elicit a visceral sense of Desire in your prospects.
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oriole company had sales in 2021 of $1,650,000 on 60,000 units. variable costs totaled $990,000, and fixed costs totaled $550,000. a new raw material is available that will decrease the unit variable costs by 20% (or $3.30). however, to process the new raw material, fixed operating costs will increase by $110,000. management feels that one half of the decline in the unit variable costs should be passed on to customers in the form of a sales price reduction. the marketing department expects that this sales price reduction will result in a 5% increase in the number of units sold.
It should result in an overall increase in net income of $71,850.
If the Riobole Company implements the new raw material and passes on half of the savings to customers, they can expect to see an increase in sales volume of 5%. This translates to an additional 3,000 units sold, bringing the total sales volume to 63,000 units. The total variable costs associated with these additional units will be $99,000 ($3.30 x 3,000).
The total cost of the new raw material, including the additional fixed costs, is $660,000 ($550,000 + $110,000). This means that the total cost of the new raw material, including the additional fixed costs, is 40% of the total variable costs associated with the additional 3,000 units ($660,000/$99,000).
The Riobole Company can expect to see an increase in total sales of $81,500 ($3.30 x 3,000 x 5%) and an additional contribution margin of $20,850 ($3.30 x 3,000 x 40%). This should result in an overall increase in net income of $71,850 ($81,500 - $9,650).
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TRUE/FALSE. A self-employed taxpayer reports home office expenses as for AGI deductions while employees report home office expenses as from AGI deductions.
The above-given statement is true, Employees report home office costs as from AGI deductions, but self-employed taxpayers report them as from AGI deductions.
A self-employed person is allowed to deduct half of their self-employment tax obligation for the tax year.
When calculating adjusted gross income, the deduction is claimed as an above-the-line deduction (AGI). To claim the deduction, the taxpayer does not have to itemize their expenses.
Your adjusted gross income (AGI) amount is used by the Internal Revenue Service (IRS) to determine your annual income tax obligation.
It is calculated by subtracting particular adjustments from gross income, such as business expenses, student loan interest expenses, and other expenses.
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the economic stimuls act of 2008 and the american recovery and reinvestmnet act of 2009 are both examples of
Both the Economic Stimulus Act of 2008 and the American Recovery and Reinvestment Act of 2009 are examples of fiscal policy.
Fiscal policy is a tool used by governments to influence the economy and influence economic activity. The Economic Stimulus Act of 2008 was a government spending package designed to stimulate the U.S. economy in the wake of the 2008 financial crisis.
It was passed into law in February 2008 and included tax cuts and spending increases. The American Recovery and Reinvestment Act of 2009 was another government spending package intended to stimulate the economy during the Great Recession.
It was passed into law in February 2009 and included tax cuts, spending increases, and incentives for businesses to invest. Both of these acts demonstrate the government's use of fiscal policy to try and encourage economic growth.
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The requirement that preferred stockholders must be paid all past and present dividends before and dividends are distributed to common stockholders is referred to as:cumulative preferred stock
Cumulative preferred stock refers to the requirement that all dividends, both past and present, be paid to preferred stockholders before any dividends are awarded to common stockholders.
Which kind of security ensures that missed dividends are paid to preferred stockholders before any dividends are paid to common stockholders?Company stock known as preference shares (also known as preferred stock) has dividends that are paid to shareholders prior to dividends on common stock. Preferred stock is available in four different forms: cumulative (guaranteed), non-cumulative, participating, and convertible.
What exactly are cumulative perpetual preferred shares?If a dividend payment was missed in the past for any reason, cumulative perpetual preferred stock has a clause stating that the dividends must be paid to cumulative perpetual preferred stock holders first and before anybody else.
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the amount presented as an expense in the income statement for income taxes may be called all of the following except : A) income taxes payable; B) It is income for financial reporting purposes. C) temporary difference. D) timing difference.
The amount presented as an expense in the income statement for income taxes may be called all of the following except timing difference.
One of the three crucial financial statements used to describe a company's financial performance throughout a certain accounting period is the income statement. The balance sheet and the cash flow statement are the other two important statements.
One of the three statements used in both accounting and corporate finance, including financial modeling, is the income statement. The statement gives a clear and logical breakdown of the company's revenue, costs, gross profit, selling and administrative expenses, other expenses and income, taxes paid, and net profit.
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selected hypothetical financial data of target and wal-mart for 202 are presented here net sales 65,000
Walmart's current ratio can be represented as 0.9:1
Ratio analysis:
1. (Current ratio * current assets)/current liabilities
=19,000/12,000
= 1.6: 1
49,000/55,000
= 0.9: 1
2. Accounts receivable= turnover /average accounts receivable
=65,000/8,000
= 8.1 times
406,000/3,800
= 106.8 times
3. Accounts collection period= 365/accounts receivable turnover
=365/8.1
= 45.1 days
=365/106.8
= 3.4 days
4. Inventory turnover= cost of goods sold/average inventory
=46,000/6,800
= 6.8 times
306,000/33,200
= 9.2 times
5. Days in inventory= 365/ inventory turnover
=365/6.8
= 53.8 days
365/9.2
= 39.8 days
6. Profit margin= net income/net sales
=2,170/65,000
= 3.3 %
14,910/406,000
= 3.8 %
7. Assets turnover= turnover/ average assets
=65,000/(45,100+45,000)/2
= 1.4 times
406,000/(172,000+162,000)/2
= 2.4 times
8. Return on assets= net income/ average assets
=2,170/45,050
= 4.8 %
14,910/167,000
= 8.9 %
9. Return on common shareholders equity= net income/average common shareholders equity
=2,170/(15,700+12,900)/2
= 15.2 %
14,910/(74,000+66,000)/2
= 21.3 %
10. Debt to assets= total liabilities/total assets
=(12,000+17,400)/45,100
= 65.2 %
(55,000+43,000)/172,000
= 57 %
11. Times interest earned= operating income/interest
=(65,000-46,000-14,800-70)/660
= 6.3 times
(406,000-306,000-76,000-390)/2,200
= 10.7 times
12. Free cash flows= net cash generated by operations - capital expenditure
=5,900-1,700
= $ 4,200
27,400-11,600
= $ 15,800
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at the end of year 1, a defined benefit pension plan reported net assets available for benefits of $650,000. during year 2, the following items were recorded: investment income $ 300,000 contributions 1,350,000 administrative expenses 150,000 benefits paid directly to participants 900,000 what amount should the plan report as year-end net assets available for benefits in the year 2 statement of changes in net assets available for benefits? $600,000 $1,250,000 $1,650,000 $2,300,000
$1,250,000 should the plan report as year-end net assets available for benefits in the year 2 statement of changes in net assets available for benefits.
In economic accounting, an asset is any aid owned or controlled by way of a commercial enterprise or an financial entity. it's far something (tangible or intangible) that can be used to provide positive economic fee. property represent price of ownership that may be converted into coins (even though coins itself is also considered an asset).[1] The stability sheet of a company facts the monetary[2] price of the property owned by that firm. It covers cash and different valuables belonging to an individual or to a enterprise. assets can be grouped into essential training: tangible belongings and intangible assets. Tangible property include numerous subclasses, together with present day belongings and stuck assets.
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the summary of significant accounting policies should disclose the pro forma effect of retroactive application of an accounting change. basis of profit recognition on long-term construction contracts. adequacy of pension plan assets in relation to vested benefits. future minimum lease payments in the aggregate and for each of the five succeeding fiscal years.
The basis for profit recognition on long-term construction contracts should be included in the overview of important accounting policies.
What do you mean by the summary of significant accounting policies?When a choice is possible, the firm's important accounting procedures and policies are described in the summary of significant accounting policies. Understanding the amounts provided in the financial statements requires knowledge of the methodologies. The percentage of completion or completed contract methods may be used to account for long-term contracts. The user can better grasp the significance of reported revenue and gross profit by being made aware of this method.
The other response options provide information on individual accounts or the outcome of using particular accounting rules. They don't say what accounting and reporting decisions the company has taken.
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on november 23, elder lift corporation, a wholesaler of hydraulic lifts, acquired land in exchange for 26,000 shares of $20 par common stock with a current market price of $26. journalize the entry to record the transaction. if an amount box does not require an entry, leave it blank. date account debit credit nov. 23 land land land common stock common stock common stock 520,000 paid-in capital in excess of par-common stock paid-in capital in excess of par-common stock paid-in capital in excess of par-common stock 156,000 feedback area
The journal entry for the elder lift corporation, a wholesaler of hydraulic lifts is illustrated below.
The term journal entry is referred as the act of keeping or making records of any transactions either economic or non-economic.
Here we have given on November 23, elder lift corporation, a wholesaler of hydraulic lifts, acquired.
And we need to prepare the journal entry for the given transactions.
Here we have to use the value of the common stock to find the book value of the land and it can be calculated as
=> 30,000∗$112=$3,360,000
And then here we now find the par value of the stock is calculated as
=> 30,000∗$80=$2,400,000
Now, here we have to make the following entry to journalize the transaction:
November 23 Land Dr. $3,360,000
To Common Stock $2,400,000
To Additional Paid-In Capital $960
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Use the following financial statements and additional information.
AUSTIN INCORPORATED
Comparative Balance Sheets
June 30, 2019 and 2018
2019 2018
Assets
Cash $ 94,300 $ 39,400
Accounts receivable, net 81,000 63,000
Inventory 68,000 94,000
Prepaid expenses 5,600 7,000
Total current assets 248,900 203,400
Equipment 176,000 163,000
Accumulated depreciation—Equipment (45,000) (15,000)
Total assets $ 379,900 $ 351,400
Liabilities and Equity
Accounts payable $ 31,000 $ 38,000
Wages payable 6,000 16,000
Income taxes payable 4,900 5,400
Total current liabilities 41,900 59,400
Notes payable (long term) 40,000 80,000
Total liabilities 81,900 139,400
Equity
Common stock, $5 par value 240,000 170,000
Retained earnings 58,000 42,000
Total liabilities and equity $ 379,900 $ 351,400
AUSTIN INCORPORATED
Income Statement
For Year Ended June 30, 2019
Sales $ 922,000
Cost of goods sold 564,000
Gross profit 358,000
Operating expenses
Depreciation expense $ 75,000
Other expenses 91,000
Total operating expenses $ 166,000
192,000
Other gains (losses)
Gain on sale of equipment 4,900
Income before taxes 196,900
Income taxes expense 60,270
Net income $ 136,630
Additional Information
A $40,000 note payable is retired at its $40,000 carrying (book) value in exchange for cash.
The only changes affecting retained earnings are net income and cash dividends paid.
New equipment is acquired for $74,000 cash.
Received cash for the sale of equipment that had cost $61,000, yielding a $4,900 gain.
Prepaid Expenses and Wages Payable relate to Other Expenses on the income statement.
All purchases and sales of inventory are on credit.
The yearly interest of a bond is the face value of the bond:
None of these
Divided by the stated yearly interest rate
Plus the stated yearly interest rate
Minus the stated yearly interest rate
Times the stated yearly interest rate
The periodical stated interest payment made on a bond is expressed in dollars as follows: the market price of a bond divided by its annual coupon payment.
What is a bond's face value?The initial issue price of a financial instrument, given in dollars, is known as face value. The amount that the issuer must pay when a bond matures is its face value, also referred to as its "par value." On the other hand, a stock's face value is the price set at the time of issuance by the firm that issued it.
A bond's face value fluctuates.The fact that a bond's face value is fixed while its price fluctuates is the key distinction between the two Up until the bond's maturity, whatever the face value is stays the same.
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a measure of a company's solvency, calculated by dividing the sum of net income, interest expense, and income taxe expense by interest expense
Calculated by dividing the total of net income, interest expenditure, and income tax expense by interest expense, this solvency indicator shows a company's capacity to make interest payments.
What is the stability to solvency ratio?A low solvency ratio indicates an unstable financial condition, while a high ratio indicates stability. To get a clear view of the company's liquidity and solvency, potential investors utilize this figure in conjunction with others, like the debt-to-equity ratio, the debt-to-capital ratio, and more.
What is revealed by the solvency ratio?The solvency ratio measures the efficiency with which a company's cash flow can pay down its long-term debt. Solvency ratios, which can be used to estimate a company's likelihood of going into default on its debt, are an important statistic for assessing a company's financial health.
The formula for calculating the solvency ratio.It is calculated by dividing the sum of the business's debt obligations by the sum of its capital, which includes both equity and debt. Interest coverage ratio: This ratio demonstrates the company's capacity to pay interest to its creditors and lenders.
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rodgers company gathered the following reconciling information in preparing its may bank reconciliation: line item description amount cash balance per company's records, may 31 $5,400 deposits in transit 375 note receivable and interest collected by bank 650 bank charge for check printing 40 outstanding checks 2,400 nsf check 140 determine the adjusted balance that would appear in the company section of the bank reconciliation on may 31. a.$5,870 b.$6,245 c.$3,845 d.$4,930
Correct choice is $5,870.
Explanation,
Preparation for Rodgers Company Bank Reconciliation Statement
= Cash balance per books + Notes receivable and interest gathered through bank - Bank cost for test printing - NSF check
= $5,400 + $650 - $40 - $140
=$6,050 - $40 - $140
= $6,010 - $140
= $5,870
Therefore the Adjusted Cash Book for Rodgers Company Bank Reconciliation Statement will be $5,870.
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https://brainly.com/question/26699275#SPJ4a $30,000 note payable is retired at its $30,000 carrying (book) value in exchange for cash. the only changes affecting retained earnings are net income and cash dividends paid. new equipment is acquired for $69,600 cash. received cash for the sale of equipment that had cost $60,600, yielding a $3,200 gain. prepaid expenses and wages payable relate to operating expenses on the income statement. all purchases and sales of inventory are on credit.
When a $30,000 note payable is retired at its carrying (book) value, the only effect on retained earnings is the decrease in the note payable liability. There is no effect on net income or cash dividends.
When new equipment is purchased for $69,600 cash, there is no effect on retained earnings. The cash account is increased by $69,600.
When equipment is sold for $60,600, yielding a $3,200 gain, the effect on retained earnings is the increase in the gain on the sale of equipment. The cash account is increased by $63,800 ($60,600 plus $3,200 gain).
When prepaid expenses and wages payable relate to operating expenses on the income statement, there is no effect on retained earnings.
When all purchases and sales of inventory are on credit, there is no effect on retained earnings.
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financila intermediation is the process in which the federal resver establoshes the prime rate, discount rates are interpreted, savings are audomatically deduced from checking acciunts, fincial insitutions acts as intermdiaries bwetween the suppliers and demanders of funds, the financial reserve controls the suppyl of money
A commercial bank, investment bank, mutual fund, or pension fund are examples of organisations that serve as the middleman between two parties in a financial transaction.
Generally speaking, intermediaries help borrowers and savers transfer capital and risk. The argument for financial intermediation is based on two premises: (1) Borrowers have more knowledge of their own financial situation and future prospects than potential capital providers; and (2) It would be prohibitively expensive to match creditors and debtors without the help of reliable third parties.
As a result, the history of financial intermediation is the tale of how various types of institutions, such as holding companies under the Federal Reserve's supervision, FDIC-insured commercial banks, and broker dealers registered with the SEC, to name a few, have modified their offerings and business models in response to market demands.
Commercial banks have historically been key players and intermediaries in the financial intermediation process.
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i wanted to use a picture of the new infotech inc. site as exhibit a in my report on construction progress however; my camera malfunctioned during my visit. i wanted to use a picture of the new infotech inc. site as exhibit a in my report on construction progress; however, my camera malfunctioned during my visit. i wanted to use a picture of the new infotech inc. site as exhibit a in my report on construction progress: however, my camera malfunctioned during my visit.
Grammatically correct sentence is I wanted to use a picture of the new infotech inc. site as exhibit a in my report on construction progress however; my camera malfunctioned during my visit.
The grammar for Business Writing course highlights the usage issues related to modern descriptive linguistics. It refers to rules that permit us to organise our words and sentences into coherent, substantive language. Grammar rules help us to form structural foundation of our ability to precise ourselves. The additional we tend to square measure tuned in to however it works, the additional we will monitor the which means and effectiveness of the means we tend to et al. use language. It will facilitate foster preciseness, sight ambiguity, and exploit the richness of expression accessible in English."
The question is incomplete, find the complete question below.
This problem reviews grammar rules you learned in previous chapters as well as confusing words and frequently misspelled words. Which sentence is grammatically correct?
i wanted to use a picture of the new infotech inc. site as exhibit a in my report on construction progress however; my camera malfunctioned during my visit. i wanted to use a picture of the new infotech inc. site as exhibit a in my report on construction progress; however, my camera malfunctioned during my visit. i wanted to use a picture of the new infotech inc. site as exhibit a in my report on construction progress: however, my camera malfunctioned during my visit.
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we can determine cash received from customers by analyzing the accounts receivable account. which of the following approaches would lead to the correct result?
The approach that would lead to determining the cash received from customers by analyzing the accounts receivable account will be the a) Beginning balance + debits during the period -- ending balance.
In the field of business, accounts receivable can be described as the revenue that a customer owes to a business or firm for a product that has already been given to the customer but the customer has not yet paid for it.
An effective approach to calculating the accounts receivable will be to deduct the debits that are made from the beginning to the ending balance. Hence the formula, beginning balance + debits during the period -- ending balance.
Although a part of your question is missing, you might be referring to this question:
We can determine cash received from customers by analyzing the accounts receivable account. which of the following approaches would lead to the correct result?
a) Beginning balance + debits during the period -- ending balance
b) Beginning balance - debits during the period -- ending balance.
c) Ending balance + debits during the period -- beginning balance.
d) none of the above
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