You are a financial adviser working with a client who wants to retire in eight years. The client has a savings account with a local bank that pays 8% annual interest. The client wants to deposit an amount that will provide her with $1,003,500 when she retires. Currently, she has $301,400 in the account. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.)
How much additional money should she deposit now to provide her with $1,003,500 when she retires? (Round your answer to nearest whole dollar.)

Answers

Answer 1

Answer:

x = $240759.82559797761 rounded off to $240.759.83

Explanation:

To calculate the additional amount that is required to be invested today, we will use the formula for Future value of a cash flow.

FV = PV * (1+r)^t

Where,

FV and PV are future value and present value respectivelyr is the interest rate or rate of returnt is the time period

We know the Future value that is the sum required and we know the r which is 8% and t which is 8 years. We know the partial PV which is 301400 and we need to calculate the other part of PV. Thus we can say that PV = 301400 + x

Solving the equation for x where x is the additional money that should be deposited today.

1003500 = (301400 + x)  *  (1+0.08)^8

1003500 / (1+0.08)^8  = (301400 + x)

542159.8255977329 = 301400 + x

542159.8255977329  -  301400  =  x  

x = $240759.82559797761 rounded off to $240.759.83


Related Questions

On July 1, Tommy Wrigley established Wrigley Home Appraisal Services, a firm that provides expert residential appraisals and represents clients in home appraisal hearings.

TRANSACTIONS:
The owner invested $100,000 in cash to begin the business.
Paid $20,250 in cash for the purchase of equipment.
Purchased additional equipment for $15,200 on credit.
Paid $12,500 in cash to creditors.
The owner made an additional investment of $25,000 in cash.
Performed services for $9,750 in cash.
Performed services for $7,800 on account.
Paid $6,000 for rent expense.
Received $5,500 in cash from credit clients.
Paid $7,550 in cash for office supplies.
The owner withdrew $12,000 in cash for personal expenses.

Required:
Record in equation form the changes that occur in assets, liabilities, and owner’s equity for the above transactions.

Answers

Answer:

Wrigley Home Appraisal Services

Recording the changes in assets, liabilities, and owner's equity for the above transactions in equation form:

1. Assets (Cash +$100,000) = Liabilities + Equity (Common stock +$100,000)

2. Assets (Equipment +$20,250; Cash -$20,250) = Liabilities + Equity

3. Assets (Equipment +$15,200) = Liabilities (Accounts payable +$15,200) + Equity

4. Assets (Cash - $12,500) = Liabilities (Accounts payable -$12,500) + Equity

5. Assets (Cash +$25,000) = Liabilities + Equity (Common stock +$25,000)

6. Assets (Cash +$9,750) = Liabilities + Equity (Retained earnings +$9,750)

7. Assets (Accounts receivable +$7,800) = Liabilities + Equity  (Retained earnings +$7,800)

8. Assets (Cash -$6,000) = Liabilities + Equity (Retained earnings -$6,000)

9. Assets (Cash +$5,500; Accounts receivable -$5,500) = Liabilities + Equity

10. Assets (Office Supplies +$7,550 Cash -$7,550) = Liabilities + Equity

11. Assets (Cash +$12,000) = Liabilities + Equity (Common stock +$12,000)

Explanation:

a) Data and Analysis:

1. Cash $100,000 Common stock $100,000

2. Equipment $20,250 Cash $20,250

3. Equipment $15,200 Accounts payable $15,200

4. Accounts payable $12,500 Cash $12,500

5. Cash $25,000 Common stock $25,000

6. Cash $9,750 Service Revenue $9,750

7. Accounts receivable $7,800 Service Revenue $7,800

8. Rent expense $6,000 Cash $6,000

9. Cash $5,500 Accounts receivable $5,500

10. Office Supplies $7,550 Cash $7,550

11. Common stock $12,000 Cash $12,000

b) The accounting equation is given as assets = liabilities + equity.  Therefore, every transaction that occurs and is properly recorded, using the double system of accounting, keeps the equation in balance.

You are considering a new product launch. The project will cost $1,950,000, have a four-year life, and have no salvage value; depreciation is straight-line to zero. Sales are projected at 180 units per year; price per unit will be $24,000, variable cost per unit will be $15,000, and fixed costs will be $540,000 per year. The required return on the project is 10 percent, and the relevant tax rate is 34 percent.
1. What is the cash break-even level of output for this project (ignoring taxes)? (Round your answer to 2 decimal places. (e.g., 32.16))
Cash break-even
2. What is the accounting break-even level of output for this project? (Round your answer to 2 decimal places. (e.g., 32.16))
Accounting break-even

Answers

Answer:

20,708.33

141,17

Explanation:

Breakeven quantity are the number of  units produced and sold at which net income is zero

Breakeven quantity = fixed cost / price – variable cost per unit

Breakeven price = (fixed cost / quantity sold) + variable price per unit

Name at least three current intellectual property challenges faced by IT managers, and explain how managers can prepare for, prevent or mitigate the damage done by each. Explain and support your argument with examples from either the textbook or a peer-reviewed source. Cite all referenced material in APA style.

Answers

Answer:

The responses to this question can be defined as follows:

Explanation:

Software device designers and landowners should take good care to guarantee whether their area of development is properly protected inside the scope of intellectual property in the quick and extremely competitive technology sector. After all, advanced, interconnected problems involving the convergence of copyright, trademark, company name, and trade secret legislation are protected by the security software scheme.

IT administrators/organizations face copyright problems

Software device functionality or options: copyright does not cover definitions of computer tools and capabilities nor does it cover interfaces. That's why competitors will create a very similar software application that can't be assumed to have violated violations, ciao so because the software system has its own ASCII text file.

Even so, ideas about roles and choices for software applications may well be covered underneath the law. The software system technically could be patented in the Asian world, but in some nations, in conjunction with both the United States. It way is also followed by Asian countries as attached equipment or devices of innovative functions and incredible steps would be deemed patentable under thai law, nevertheless, this unit of such a field is talking about an item by item.

Source code: Typically, the ASCII text is secret untouched and simply revealed when the program has also been publicly released. Throughout the absence of a folder of ASCII text underneath the security protocols, secret law should cover all who accurately reveal, deprive or use corporate data of another party while also not consenting to another party.

Copyright ownership: Except as otherwise agreed in writing, the ownership of the software application created by affiliated workers is owned by the worker under a related arrangement.

This same commission group will, but on the other hand, be accountable for copyright for both the software system developed underneath a service agreement. Designers and their representatives for independent candidates could, nevertheless, accept that perhaps the developers own all the rights to the copyright.

License agreements: Whenever the customer needs a software application to supply an ASCII word document, both parties must clarify whether or not the customer needs this same ASCII text file to be provided, and whether the software state requires to be modified or updated.

This could be substantially different from a licensing deal as a consequence of a computer device sales contract or a similar arrangement for granting copyright to an ASCII text file.

In the case that the entities agree with a software system license agreement that requires the ASCII text file to be revealed for customization and/or the system change, the programmer may adopt a requirement that perhaps the consumer is to remain confidential with both the ASCII text file. Software licensing terms do not prevent landowners from granting alternative groups licenses.

Exclusive license: The software system can be used solely by the dealer. This is not permitted to be used by the licensee and no extra permits can be granted.

The only lease: the software system can only be used by the retailer. A licensor decides not to issue permits and licenses but maintains their right to use the software application.

License not exclusive: the copyright holder could concurrently issue multiple users licenses and even the user could use the software framework.

Azule Co. manufactures in two sequential processes, cutting and binding. The two departments report the information below for a recent month. Cutting Binding Beginning work in process Transferred in from cutting dept. $ 1,200 Direct materials $ 1,095 2,862 Conversion 3,650 3,800 Costs added during March Direct materials $ 13,740 $ 9,332 Conversion 18,300 19,475 Transferred in from cutting dept. 17,395 Transferred to finished goods 31,000 Determine the ending balances in the Work in Process Inventory accounts of each department.

Answers

Answer and Explanation:

The computation of the ending balance in the work in process inventory for each department is shown below:

For Cutting department

= Direct material + conversion + cost added for direct material + cost added for conversion - transferred in from cutting department

= $1,095 + $3,650 + $13,740 + $18,300 - $17,395

= $19,390

And, for binding department

= Transferred in from cutting department Direct material + conversion + cost added for direct material + cost added for conversion - transferred to finished goods

= $1,200 + $2,862 + $3,800 + $9,332 + $19,475 - $31,000

= $5,669

Each of the situations below represents a negative outcome of one of Erik Erikson's Psychosocial Stages. Determine which psychosocial stage resulted in each set of behaviors described below; speculate as to what circumstances may have resulted in the negative outcome; and describe what behaviors would be indicative of a positive outcome of that same stage.
1) Jason is a 14-year-old seventh grader who moved to Saint Cloud this summer from another state. He has recently been referred to the school psychologist because of concerns about both his academic performance and school behavior. A review of his school records shows that Jason repeated kindergarten and third grade. His elementary school grades were primarily S's ("Satisfactory") and N's ("Needs Improvement"). His current teachers state that they are unsure of Jason's academic skills because he typically does not turn in assignments and appears to "clown around" and not take exams and assignments seriously.
2) Brenda is a 5th-year undergraduate student. She began her post-secondary education as a nursing major at a private college, but decided she wanted to pursue a career in special education, so she transferred to a state university with a large education program. After a year, she discovered that special education was not for her, so she transferred back to the college where she had first enrolled and registered for courses in the psychology major sequence. She is now a liberal studies major and will graduate in May. Brenda has thought about applying to law schools, but recently decided she really didn't want a career in law. At this point she has no firm career plans. Rather, she had decided to work as a waitress for at least a year, and after that, who knows?
3) Carrie is a 36-year-old woman who is currently being seen for counseling at the community mental health center. Her second marriage recently ended in divorce, and she has sought counseling so that she might "find" herself and get her life "back on track." Carrie married for the first time at age 18, but she and her husband grew increasingly apart and found they had little in common, other than their two children! She remarried shortly after her first divorce as she felt "empty" being alone and thought both she and her children needed a man in the house, but that marriage also proved unsuccessful. She is now thinking of attending college, and is trying to figure out what to do "with the rest of her life."

Answers

Do you want to write a longer question

In the month of March, Baldwin corporation received orders of 169 units at a price of $15 for the product boat. Baldwin uses the accrual method of accounting and offers 30 day credit terms. Baldwin delivers 112 units in March and the balance of 56 units in April. They receive payments of 56 units in March, 56 units in April, and 56 units in May. How much revenue is recognized on the March income statement from this order how much

Answers

Answer: $1,680

Explanation:

According to the Accrual method, revenue from sales is recognized when the obligations of the sale have been fulfilled. In other words, when the goods are delivered.

In March, Baldwin delivers 112 units so this is the units that will be recognized for revenue:

= 112 * 15 per unit

= $1,680

If a company's current ratio increases from 1.2 to 1.4 from one year to the next, and its quick ratio decreases from 0.2 to 0.15 over the same time period, this indicates: a. the current liabilities have decreased. b. the inventory management should be further examined. c. the liquidity must have increased. d. the accounts receivable have decreased.

Answers

Answer: b. the inventory management should be further examined.

Explanation:

The Quick ratio is calculated by deducting inventory from the current assets and then dividing that amount by current liabilities while the Current ratio is simply dividing the current assets by the current liabilities.

If the Current ratio increased, it means that the company has more current assets per current liabilities from last year. The fact that the quick ratio dropped however, points to most of the current asset increase being the inventory which means that the company is carrying a lot of inventory.

Their management of inventory such that they are carrying such amounts therefore needs to be further examined before a decision is made on their liquidity.

Brief Exercise 18-5 a1-a2 Ivanhoe Corp. has collected the following data concerning its maintenance costs for the past 6 months. Units Produced Total Cost July 18,700 $39,712 August 33,344 50,016 September 37,512 57,310 October 22,924 40,126 November 41,680 77,629 December 39,596 64,604 (a1) Compute the variable cost per unit using the high-low method.

Answers

Answer:

a, the variable cost per unit using the high-low method is $1.65

Explanation:

a. The computation of the variable cost per unit using the high low method is shown below:

= (HIgh cost - low cost) ÷ (high units - low units)

= ($77,629 - $39,712) ÷ (41,680 units - 18,700 units)

= ($37,917) ÷ (22,980 units)

= $1.65

Hence, the variable cost per unit using the high-low method is $1.65

The same would be considered by applying the above formula so that the correct value could come

Steven runs a small company that manufactures VCRs. In recent years, his sales and profits have been suffering. Steven knows that people are buying DVD players more than VCRs nowadays. However, he does not understand why people do not continue to purchase VCRs as well. After all, Blockbuster still rents VHS tapes and people still own VHS tapes. Steven refuses to begin manufacturing DVD players. He insists that his specialty lies in the production of VCRs. Steven is suffering from which of the following?
a. Slide-rule syndrome
b. Majority Fallacy
c. Marketing myopia
d. SWOT
e. Product champion

Answers

Answer:

c. Marketing myopia

Explanation:

Marketing myopia occurs when a company focuses only on its needs and capabilities and not on the needs of their customers. Obviously, this will result in decreasing sales volumes and lower profits, and could eventually result in a business failure. In this case, Steven doesn't want to realize that VCRs are no longer wanted by consumers (nor DVDs nowadays).

Based on the information given, Steven is suffering from marketing myopia.

Marketing myopia simply means when a company focuses only on its needs and not what the customers need.

Based on the information given, Steven focuses on his needs alone. Thus brought about the reduction in sales and revenue. Therefore, Steven is suffering from marketing myopia.

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Benson Company estimates its uncollectible accounts by aging its accounts receivable and applying percentages to various aged categories of accounts. Benson computes a total of $1,800 in estimated uncollectible accounts as of December 31, 2013. Its Accounts Receivable account has a balance of $56,400 and its Allowance for Doubtful Accounts has a credit balance of $300 before adjustment at December 31, 2013. How much bad debts expense will Benson report in 2013

Answers

Answer:

$1,500

Explanation:

With regards to the above, we would compute Benson's Company bad debt expense for 2013 as;

= Estimated uncollectible accounts as of 31, December 2013 - Credit balance in the allowance for doubtful account before adjustment at December 31, 2013.

= $1,800 - $300

= $1,500

Therefore, Benson Company would report $1,500 as bad debts expense in 2013.

Of the following, ________ is the most closely aligned with employees’ perceptions of procedural justice.

Answers

Answer:

Job performance

Explanation:

Of the following, Job performance  is the most closely aligned with employees’ perceptions of procedural justice.

Use the data below to construct the advance/decline line for the stock market. Volume figures are in thousands of shares. (Do not round intermediate calculations. Round your answers to the nearest whole number. Input all amounts as positive values.) Stocks Advancing Advancing Volume Stocks Declining Declining Volume Monday 1,634 825,503 1,402 684,997 Tuesday 1,876 928,360 1,171 440,665 Wednesday 1,640 623,369 1,410 719,592 Thursday 2,495 1,101,332 537 173,003 Friday 1,532 508,790 1,459 498,585
Adv./Dec. Cumulative
Monday
Tuesday
Wednesday
Thursday
Friday

Answers

Answer:

                Adv./Dec.               Cumulative

Monday               1                            1

Tuesday              2                            3

Wednesday         1                            4

Thursday             5                            9

Friday                   1                            10

Explanation:

Note: See the attached excel file for the construction of he advance/decline line for the stock market.

PLEASE HELP!!! 1. Sean buys 400 shares of an income stock. The company pays a dividend of $0.48 per share. What is his total dividend?​

Answers

Answer:

$1 92

Explanation:

Total dividend = numbers of share * dividend per share

=400 * $0.48

=$192

Vanguard is evaluating new potential investments to add to their international investment fund. Their current fund composition boasts returns that, on average, exceed the S&P 500 at 8.5%. They take a conservative approach by allowing capital investments to be recovered within a decade following each purchase. Vanguard is considering adding the Hungarian firm, Kimco & Company, a new technology firm developing automation software for the automotive industry, to their fund.

Estimated details regarding the Kimco & Co. investment are as follows:

Potential investment Payback period Return on investment (ROI) Net present value (NPV) Internal rate of Return (IRR)
Kimco & co. 7 years 0.079 0 0.085

Required:
As an analyst at Vanguard, would you recommend adding Kimco & co. to their international fund?

Answers

Answer:

No, I would NOT recommend adding Kimco & co. to their international fund.

Explanation:

The following analyses have to be considered first before making a recommendation:

1. The decision rule for Payback period is to accept a project if its estimated payback period is less than the benchmark payback period. In this question, the estimated Potential investment Payback period of 7 years is less than the 10 years provided by conservative approach. Therefore, the project should be accepted based on Payback period.

2. The decision rule for Return on investment (ROI) is to reject a project if its estimated ROI is less than the average returns. In this question, the estimated ROI of 7.90% is less than the average returns of 8.50%. Therefore, the project should be rejected based on ROI.

3. The decision rule for Net present value (NPV) is to reject a project if its NPV is positive and reject if negative. In this question, the NPV is not neither positive nor negative but zero. Therefore, decision cannot be taken based on NPV.

4. The decision rule for Internal rate of Return (IRR) is to reject a project if its IRR is less than its associated average returns. In this question, the estimated IRR is not less than the average returns because they are both equal to 8.5%. Therefore, decision cannot be taken based on IRR.

Recommendation

No, I would NOT recommend adding Kimco & co. to their international fund based on the ROI.

Although the project should be accepted based on Payback period, but the ROI will still be less than the average return despite that estimated Potential investment Payback period of 7 years is less than the 10 years provided by conservative approach.

Therefore, Kimco & co. should NOT be added to their international fund.

In its first year, Barsky Corporation made charitable contributions totaling $30,000. The corporation's taxable income before any charitable contribution deduction was $250,000. In its second year, Barsky made charitable contributions of $15,000 and earned taxable income before the contribution deduction of $300,000. Assume neither year is 2020. Required: Compute Barsky's allowable charitable contribution deduction and its final taxable income for its first year. Compute Barsky's allowable charitable contribution deduction and its final taxable income for its second year

Answers

Answer:

Year 1:

total income before charitable contributions = $250,000

limit on charitable contributions = $250,000 x 10% = $25,000

taxable income after charitable contributions = $250,000 - $25,000 = $225,000

charitable contributions carried forward = $30,000 - $25,000 = $5,000

Year 2:

total income before charitable contributions = $300,000

limit on charitable contributions = $300,000 x 10% = $30,000

taxable income after charitable contributions = $300,000 - $15,000 - $5,000 = $280,000

When you undertook the preparation of the financial statements for Oriole Company at January 31, 2021, the following data were available: At Cost At Retail Inventory, February 1, 2020 $83,470 $99,500 Markdowns 35,200 Markups 64,000 Markdown cancellations 19,200 Markup cancellations 9,000 Purchases 226,000 286,500 Sales revenue 310,000 Purchases returns and allowances 4,900 5,900 Sales returns and allowances 9,400 Compute the ending inventory at cost as of January 31, 2021, using the retail method which approximates lower of cost or market. Ending inventory at cost

Answers

Answer:

See below

Explanation:

Cost Retail

Beginning inventory 83,470 99,500

Add: Purchases 226,000 286,500

Less:

Purchases return (4,900) (5,900)

Add:

Net markups

(64,000 - 9,000) ---------- 55,000

Balance 304,570 380,100

Cost to retail percentage 80%

304,570/380,100

Less:

Net markdowns

(35,200 - 19,200) ----------- (16,000)

Goods available for sale 304,570 364,100

Less: Net sales

(310,000 - 9,400) ------- (300,600)

Estimated ending inventories at retail prices ---------- 63,500

Estimated ending inventory at cost

(63,500 × 80%) (50,800) ---------

Estimated cost of goods sold 253,770

Ending inventory at cost using the retail method is $50,800

Russell Retail Group begins the year with inventory of $50,000 and ends the year with inventory of $40,000. During the year, the company has four purchases for the following amounts.
Purchase on February 17 $ 205,000
Purchase on May 6 125,000
Purchase on September 8 155,000
Purchase on December 4 405,000
Required:
Calculate cost of goods sold for the year.

Answers

Answer:

COGS= $900,000

Explanation:

Giving the following formula:

Beginning inventory= $50,000

Ending inventory= $40,000

Purchase on February 17 $ 205,000

Purchase on May 6 125,000

Purchase on September 8 155,000

Purchase on December 4 405,000

Total= $890,000

To calculate the cost of goods sold, we need to use the following formula:

COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory

COGS= 50,000 + 890,000 - 40,000

COGS= $900,000

Windsor, Inc. had the following transactions during the current period.
Mar. 2 Issued 5,600 shares of $5 par value common stock to attorneys in payment of a bill for $33,600 for services performed in helping the company to incorporate.
June 12 Issued 61,500 shares of $5 par value common stock for cash of $384,375.
July 11 Issued 1,500 shares of $100 par value preferred stock for cash at $107 per share.
Nov. 28 Purchased 1,800 shares of treasury stock for $72,000.
Journalize the transactions. (Record journal entries in the order presented in the problem. 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 O for the amounts.)

Answers

Answer:

See the journal entries below.

Explanation:

The journal entries will look as follows:

Date      Details                                                        Debit ($)          Credit ($)

Mar. 2   Attorney bill                                                 33,600

              Common stock (5,600 * $5)                                                28,000

              APIC - Common stock (33,600 - 28,000)                             5,600

            (To record the issue of 5,600 shares of common share to pay Attorney Bill.)

June 12  Cash                                                        384,375

                Common stock (61,500 * $5)                                         307,500

                APIC - Common stock (384,375- 307,500)                     76,875

              (To record the issue of 61,500 shares of common stock for cash.)  

July 11    Cash (1,500 * $107)                                   160,500

                Preferred stock (1,500 * $100)                                       150,000

                APIC - Preferred stock (160,500 – 150,000)                  76,875

             (To record the issue of 1,500 shares of preferred stock for cash.)  

Nov 28  Treasury stock                                            72,000

                Cash                                                                                 72,000

              (To record the purchase of 1,800 shares of treasury stock.)            

Note: APIC = Additional-paid-in-capital

Suppose that the United States currently imports 1.0 million pairs of shoes from China at $20 each. With a 50 percent tariff, the consumer price in the United States is $30. The price of shoes in Mexico is $25. Suppose that as a result of USMCA, the United States imports 1.2 million pairs of shoes from Mexico and none from China.

Required:
What are the gains and losses to U.S consumers, U.S producers, and U.S government and the world as a whole?

Answers

Answer:

Trade situation is a win-win game for US consumers as well as US producers and for all the whole world.

Since China is producing cheaper shoes which means US consumers will be gain from Chinese import at a reduced cost and that will result in higher consumer surplus. But because of the tariff, US consumers are at a disadvantage. Due to free trade agreement between US and Mexico, Chinese producers lost as their is tariff in their product which make it to be uncompetitive.

Explanation:

Looking at the difference between importation cost from both Mexico and China,

I.e Consumer Price of Mexican shoes - Consumer Price of Chinese Shoes = $30 - $25 = $5

Which means US consumers are paying $5 extra for Mexican import than Chinese import without tariff

For Chinese product

With the tariff, US consumers were paying ( 1 million * $10 ) = $10 million

Net consumer surplus is -$10 million USD.

For Mexican product

1.2 million * $5 = $6 million

Net Gain

$10 million - $6 million = $4 million.

The Net losses for US Sellers is $6 million

US government is losing all its tariff because of the free trade agreement resulting from Mexican import

1 million * $10 = 10 million

Trade situation is a win-win game for US consumers as well as US producers and for all the whole world.

Since China is producing cheaper shoes which means US consumers will be gain from Chinese import at a reduced cost and that will result in higher consumer surplus. But because of the tariff, US consumers are at a disadvantage. Due to free trade agreement between US and Mexico, Chinese producers lost as their is tariff in their product which make it to be uncompetitive.

The broker has noticed that a great number of people who are buying in the neighborhood where his listing is located speak Russian. He also noticed a Russian grocery store right by the neighborhood that was attractive. He decides to stop the advertising the property and started advertising the property on two different Russian internet sites. This is:________
a) acceptable because it is not print media
b) unnacceptable due to its discrimnatory nature
c) acceptable if the advertisement includes no preferential language
d) the only appropriate way to market property in this neighborhood

Answers

Answer:

c) acceptable if the advertisement includes no preferential language

Explanation:

In the given case since it is mentioned that grocery store was attractive and he decided to stop the advertising of the property and begins the advertising on two distinct russian internet site so this would be acceptable in the case when the advertisement does not involve any kind of preferential language

Therefore the option c is correct

In the 1950s, imports and exports of goods and services constituted roughly 4% to 5% of U.S. GDP. In recent years, exports have accounted for approximately 12% of GDP, while imports have more than tripled to over 15% of GDP. Which of the following help to explain the increase in international trade and finance since the 1950s?

a. Better high-speed rail lines.
b. An increasing number of import quotas.
c. Services such as web conferencing and teleconferencing that facilitate international meetings.
d. International trade agreements that lower tariffs and import quotas.

Answers

Answer:

      a. Better high-speed rail lines.  

      c. Services such as web conferencing and teleconferencing that  facilitate international meetings.

       d. International trade agreements that lower tariffs and import quotas.

Explanation:

Better high-speed rails have improved the speed and capacity to carry goods across countries thereby enabling imports to be done with more ease. This has increased both the exports to and imports for other countries.

Information Technology has also grown to the point where international meetings can be had online which means that trade agreements and contracts can be completed quickly and with more convenience so more trade is happening between companies in the U.S. and other nations.

Also international trade agreements like the North American Free Trade Agreement (NAFTA), have lowered tariffs such that it is cheaper to both export and import than it was so both measures grew.

Advertising department expenses of $26,700 and purchasing department expenses of $46,700 of Cozy Bookstore are allocated to operating departments on the basis of dollar sales and purchase orders, respectively. Information about the allocation bases for the three operating departments follows.
Department Sales Purchase Orders
Books $180,400 1,290
Magazines 123,000 690
Newspapers 106,600 1,020
Total $410,000 3,000
Complete a table by allocating the expenses of the two service departments (advertising and purchasing) to the three operating departments.

Answers

Answer:

The advertising department expense allocated to each department are as follows:

Books Dept = $11,748

Magazines Dept = $8,010

Newspapers Dept = $6,942

Totals advertising department expenses allocated = $26,700

The purchasing department expenses allocated to each department are as follows:

Books Dept = $20,081

Magazines Dept = $10,741

Newspapers Dept = $15,878

Total purchasing department expenses allocated = $46,700

Explanation:

Note: See the attached excel for the completed table used in allocating the expenses of the two service departments (advertising and purchasing) to the three operating departments.

From the attached excel, the advertising department expense allocated to each department are as follows:

Books Dept = $11,748

Magazines Dept = $8,010

Newspapers Dept = $6,942

Totals advertising department expenses allocated = $26,700

From the attached excel, the purchasing department expenses allocated to each department are as follows:

Books Dept = $20,081

Magazines Dept = $10,741

Newspapers Dept = $15,878

Total purchasing department expenses allocated = $46,700

The premium on a pound put option is $0.03 per unit. The exercise price is $1.60. The break-even point is ____ for the buyer of the put, and ____ for the seller of the put. (Assume zero transactions costs and that the buyer and seller of the put option are speculators.) Group of answer choices $1.57; $1.57 $1.63; $1.63 $1.63; $1.60 $1.63; $1.57

Answers

Answer:

Buyer $1.57

Seller $1.57

Explanation:

Based on the information given The break-even point is $1.57 for the buyer of the put, and $1.57 for the seller of the put calculated using this formula

Break-even point=Exercise price-Premium on a pound put option

Let plug in the formula

Break-even point=$1.60 − $.03

Break-even point= $1.57

Therefore The break-even point is $1.57 for the buyer of the put, and $1.57 for the seller of the put.

Causwell Company began 2021 with 16,000 units of inventory on hand. The cost of each unit was $6.00. During 2021 an additional 36,000 units were purchased at a single unit cost, and 26,000 units remained on hand at the end of 2021 (26,000 units therefore were sold during 2021). Causwell uses a periodic inventory system. Cost of goods sold for 2021, applying the average cost method, is $179,400. The company is interested in determining what cost of goods sold would have been if the FIFO or LIFO methods were used.

Required:
Determine the cost of goods sold for 2021 using the FIFO method.

Answers

Answer:

Causwell Company

The cost of goods sold for 2021 using the FIFO method is:

= $169,000.

Explanation:

a) Data and Calculations:

January 2021 Beginning inventory  16,000  at $6.00 each   $96,000

During 2021   Purchases                 36,000  at $7.30 each    262,800

Total                                                 52,000                           $358,800

December 2021 Ending inventory 26,000                              179,400

December 2021 Cost of goods sold 26,000                        $179,400

Weighted-average cost = Cost of goods sold/Units sold

= $179,400/ 26,000 = $6.90

Total cost of goods available for sale = Total units available * weighted-average cost

= 52,000 * $6.90

= $358,800

Cost of purchases = Total cost minus cost of beginning inventory

= $358,800 - $96,000

= $262,800

Single unit cost of purchases = $262,800/36,000 = $7.30

Cost of goods sold under FIFO:

Beginning inventory 16,000 units at $6.00 each = $96,000

From 2021 purchase 10,000 units at $7.30 each = $73,000

Total cost of goods sold under FIFO =                   $169,000

Cost of goods available for sale = $358,800

less cost of ending inventory           189,800 ($7.30 * 26,000)

Cost of goods sold under FIFO =  $169,000

b) FIFO means First-in, First-out.  It is an inventory costing method based on the assumption that goods that entered the store first are the first to be sold.  This means that goods are sold according to the chronological order in which they were bought or produced.

Barton Industries expects next year's annual dividend, D1, to be $2.00 and it expects dividends to grow at a constant rate g = 4.2%. The firm's current common stock price, P0, is $20.00. If it needs to issue new common stock, the firm will encounter a 4.5% flotation cost, F. What is the flotation cost adjustment that must be added to its cost of retained earnings? Do not round intermediate calculations. Round your answer to two decimal places.

Answers

Answer: See explanation

Explanation:

The flotation cost adjustment that must be added to its cost of retained earnings will be calculated thus:

= Expected dividend / [Current price × (1 - Floatation cost)] + Expected growth rate

= 2.00/[20.00 × (1 - 4.5%)] + 4.2%

= 2.00 /[20.00 × (1 - 0.045)] + 0.042

= 2.00 / (20.00 × 0.955) + 0.042

= (2.00/19.10) + 0.042

= 0.104712 + 0.042

= 0.146712

New cost of equity = 14.67%

You didn't give the cost of equity calculated without the flotation adjustment. Let's assume that this is maybe 11%, the floatation on adjustment factor = 14.67% - 11% = 3.67%

What is a disadvantage of merging cells? Merging cells combines formatting styles. Once cells are merged the process cannot be reversed. Multiple cells can be combined into one reference. Data functions in multiple cells may not be recognized.

Answers

Answer: Data functions in multiple cells may not be recognized.

Explanation:

When cells are merged on Excel, the data functions that were on the different cells that were merged may not be recognized in the merged cell so they will need to be inputted again.

This presents its own problem if the merged cells contained functions that had been used to calculate different things. The question then shifts to which function should stay in the merged cell out of the various functions that the composite cells had.

A band sells shirts, CDs, and other merchandise online. They are using Excel to track sales by date and by name
of the buyer. They would like for any purchases over $50 to be highlighted automatically so that they can send a
special gift to those buyers.
Which is the best way to make Excel automatically highlight these sales?

Answers

Answer:

its 3

Explanation:

As a long-term investment at the beginning of the 2018 fiscal year, Florists International purchased 25% of Nursery Supplies Inc.'s 16 million shares for $59 million. The fair value and book value of the shares were the same at that time. During the year, Nursery Supplies earned net income of $36 million and distributed cash dividends of $2.25 per share. At the end of the year, the fair value of the shares is $55 million.

Required:
a. Prepare the appropriate journal entries from the purchase through the end of the year.
b. Record the investment revenue in Nursery Supplies shares
c. Record the cash dividends received from Nursery Supplies shares

Answers

Answer: Please find answers in explanation column

Explanation:

To record investment  in Nursery Supplies

Account title and explanation                                Debit                 Credit

Investment in Nursery supplies common stock    $59 million

 Cash                                                                                                 $59 million

2. To record share in  net income by Nursery supplies

Account title and explanation                                Debit                 Credit

Investment in Nursery supplies common share   $9 million

Investment Revenue                                                                       $9 million

Calculation

25% x net income of $36 million   =$9 million

3.To record share in dividends received from Nursery Supplies

Account title and explanation                     Debit                       Credit

 Cash                                                             $9 million  

Investment in Nursery supplies common share                            $9 million

Calculation

16 million shares  x 25% x $2.25per share=$9 million  

Fickle Company purchased a machine at a total cost of $220,000 (no residual value) at the beginning of 2018. The machine was being depreciated over a 10-year life using the sum-of-the-years'-digits method. At the beginning of 2021, it was decided to change to straight-line. An accompanying disclosure note would include each of the following except: Multiple Choice The cumulative effect of the change. Justification that the change is preferable. The effect of a change on per share amounts affected for all periods reported. The effect of a change on any financial statement line items affected for all periods reported.

Answers

Answer:

Fickle Company

An accompanying disclosure note would include each of the following except:

The effect of a change on per share amounts affected for all periods reported.

Explanation:

a) Data and Analysis:

Total cost of machine = $220,000

Useful life of machine = 10 years

Method of depreciation = the sum-of-the-years'-digits method

b) The sum-of-the-years'-digits method of depreciation adds up the years (e.g. 10, 9, 8, 7, 6, 5, 4, 3, 2, 1) to obtain 55 as the sum-of-the-years'-digits denominator.  Each year's depreciation is then based on the number of years remaining.  For example, the depreciation expense for year 1 will be $40,000 (10/55 * $220,000).

In disclosing this change in accounting method, that is, from the sum-of-the-years'-digits method to the straight-line method of depreciation, Fickle does not need to disclose the effect of the change on per share basis.

(Identify Temporary Differences and Classification Criteria) The asset-liability approach for recording deferred income taxes is an integral part of generally accepted accounting principles.
Instructions
(a) Indicate whether each of the following independent situations should be treated as a temporary difference or as a permanent difference, and explain why.
(1) Estimated warranty costs (covering a 3-year warranty) are expensed for financial reporting purposes at the time of sale but deducted for income tax purposes when paid.
(2) Depreciation for book and income tax purposes differs because of different bases of carrying the related property, which was acquired in a trade-in. The different bases are a result of different rules used for book and tax purposes to compute the basis of property acquired in a trade-in.
(3) A company properly uses the equity method to account for its 30% investment in another company. The investee pays dividends that are about 10% of its annual earnings.
(4) A company reports a gain on an involuntary conversion of a nonmonetary asset to a monetary asset. The company elects to replace the property within the statutory period using the total proceeds so the gain is not reported on the current year’s tax return.
(b) Discuss the nature of the deferred income tax accounts and the manner in which these accounts are to be reported on the balance sheet.

Answers

Answer:

Your question is very complicated pal

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