Answer:
the wholesaler received $6,138 as payment.
Explanation:
The seller would receive the the amount owing to customer less the return credit and cash discount of 1 %.
The calculation of this amount is as follows :
Account Receivable $6,500
Less Return Credit ($300)
$6,200
Less Cash discount ($6,200 × 1%) ($62)
Payment $6,138
Conclusion :
the wholesaler received $6,138 as payment.
Q 7.24: A small grocery store has three employees working each shift, but they only have one checkout register. Depending on which employee is available when a customer is ready to check out, all three employees use the same register at various times of the day. Which principle of control activities does this grocery store violate
Wages of $8,000 are earned by workers but not paid as of December 31. Depreciation on the company’s equipment for the year is $11,440. The Office Supplies account had a $350 debit balance at the beginning of the year. During the year, $5,367 of office supplies are purchased. A physical count of supplies at December 31 shows $587 of supplies available. The Prepaid Insurance account had a $5,000 balance at the beginning of the year. An analysis of insurance policies shows that $1,800 of unexpired insurance benefits remain at December 31. The company has earned (but not recorded) $700 of interest revenue for the year ended December 31. The interest payment will be received 10 days after the year-end on January 10. The company has a bank loan and has incurred (but not recorded) interest expense of $5,000 for the year ended December 31. The company will pay the interest five days after the year-end on January 5. For each of the above separate cases, prepare adjusting entries required of financial statements for the year ended (date of) December 31.
Answer:
wages expense 8,000 debit
wages payables 8,000 credit
----------------------------------------------------
depreciation expense 11,440 debit
accumulated depreciation equipment 11,440 credit
----------------------------------------------------
supplies expense 5,130 debit
supplies 5,130 credit
----------------------------------------------------
Insurance expense 3,200 debit
Prepaid Insurance 3,200 credit
----------------------------------------------------
Interest Receivables 700 debit
Interest Revenue 700 credit
----------------------------------------------------
interest expense 5,000 debit
Interest payable 5,000 credit
----------------------------------------------------
Explanation:
We follow the accountign rinciples: Debit = Credit
And one line per account
and all accounts posted must have a balance
Additional calculations:
Supplies
beginning + purchase = used + ending
350 + 5,367 = used + 587
used supplies = 350 + 5,367 - 587 = 5,130
Insurance
Beginning unexpired - Ending unexired = expired
5,000 - 1,800 = 3,200
North Side, Inc. has no debt outstanding and a total market value of $175,000. Earnings before interest and taxes, EBIT, are projected to be $16,000 if economic conditions are normal. If there is strong expansion in the economy, then EBIT will be 30 percent higher. If there is a recession, then EBIT will be 70 percent lower. The company is considering a $70,000 debt issue with an interest rate of 7 percent. The proceeds will be used to repurchase shares of stock. There are currently 2,500 shares outstanding and the tax rate is 34 percent. What will be the percentage change in EPS if the economy has a strong expansion?
14. Two alternative measures of the overall level of prices are a. the inflation rate and the consumer price index. b. the inflation rate and the GDP deflator. c. the GDP deflator and the consumer price index. d. the cost of living index and nominal GDP
Answer:
c. the GDP deflator and the consumer price index.
Explanation:
Two alternative measures of the overall level of prices are the GDP deflator and the consumer price index.
The GDP deflator can be defined as a measure of the changes in prices for all of the finished goods and services produced domestically in an economy in a particular period of time, usually a year. This simply means that, the gross domestic product deflator measures the inflation in an economy.
Consumer price index (CPI) can be defined as a measure of the aggregate or average changes in price level of a weighted market basket of finished goods and services that consumers purchased over a specific period of time. The CPI is also a measure of the inflation in an economy over a specific period of time.
Modern products lines typically ensure that the quality of durable goods remains at stable levels, but because services depend on the people who provide them, quality may vary from person to person or day to day, in what is known as the ________ of services.
Answer:
inconsistency of services
Explanation:
Inconsistency of services is one of the characteristics of services. The Inconsistency of a service refers to the fact that a service cannot be perfectly standardized so that eachservice retains exactly the same quality even if provided by same service provider. A service provider may spend and invest heavily in training staff to control quality and reduce inconsistency in quality of services but never be able to perfectly get rid of it
Sparrow Products Industries stock is currently selling for $80. It just paid its annual dividend of $2 after reporting an ROE of 15%. The firm pays out 50% of its earnings as dividends. What is the expected return of this stock?
Answer:
Expected return on stock = 9.68%
Explanation:
Cost of equity can be ascertained using the dividend valuation model. The model states that the price of a stock is the present value of future dividends discounted at the required rate of return.
Ke=( Do( 1+g)/P ) + g
g- growth rate in dividend, P- price of the stock, Ke- required return, D- dividend payable in now
DATA
D0- 2, g- ?, P- 80
Note that the growth rate in dividend is missing so we wold work it out as follows:
g = dividend retention rate ×Return on equity
g = 0.15*0.5 = 7%
Expected return on stock
= (2× (1+0.07)/80) + 0.07 = 0.09675
Expected return on stock = 0.09675 × 100 = 9.675
Expected return on stock = 9.68%
Palm Company gathered the following reconciling information in preparing its April bank reconciliation: Cash balance per books, 4/30 $4,300 Deposits in transit 150 Notes receivable and interest collected by bank 850 Bank charge for check printing 20 Outstanding checks 2,000 NSF check 170 The adjusted cash balance per the books on April 30 is a.$2,280. b.$4,960. c.$3,110. d.$2,450.
Answer:
$4960
Explanation:
Given that:
Cash balance per books, 4/30 $4300
Deposits in transit 150
Notes receivable and interest collected by bank 850
Bank charge for check printing 20
Outstanding checks 2,000
NSF check 170
The adjusted cash balance per the books on April 30 can be calculated by the expression:
Adjusted cash balance per the books = Cash balance per books + Notes receivable and interest collected by bank - Bank charge for check printing - NSF check
Adjusted cash balance per the books = $4300 + 850 - 20 - 170
Adjusted cash balance per the books = $5150 - 190
Adjusted cash balance per the books = $4960
A company reported that its bonds with a par value of $40,000 and a carrying value of $52,000 are retired for $60,000 cash, resulting in a loss of $8,000. The amount to be reported under cash flows from financing activities is _____. $(8,000) $(60,000) $12,000 $40,000 $(52,000)
Answer: $(60,000)
Explanation:
From the question, we are told that a company reported that its bonds with a par value of $40,000 and a carrying value of $52,000 are retired for $60,000 cash, resulting in a loss of $8,000.
The amount to be reported under cash flows from financing activities will be $60,000. This is the amount from the question that the bonds are retired for.
Which of the following is an example of competitive parity? A firm provides wall clocks that its consumers value more than other wall clocks. A firm sells wall clocks at a lower price than its competitors. A firm produces a similar number of wall clocks at a similar cost as its competitors. A firm manufactures higher-quality wall clocks than its competitors.
Answer:
A firm produces a similar number of wall clocks at a similar cost as its competitors.
Explanation:
Competitive parity, as the name implies, is a situation in which a firm has a similar good or service to that of its competitors. These similarities can manifest in quality, cost, or both.
Im this case, if a firm produces a similar quantity of wall clocks, and sells them at a similar price, then, this firm has a competitive parity with its competitors.
Put'er There manufactures baseball gloves. Each glove requires $22 of direct materials and $18 of direct labor. Variable manufacturing overhead cost is $7 per unit and fixed manufacturing overhead cost is $19,000 in total. Variable selling and administrative costs are $11 per unit sold and fixed selling and administrative costs are $13,200. Last period, 800 gloves were produced, and 585 gloves were sold. The unit product cost is:_______.
a. $70.75 per unit.
b. $47 per unit.
c. $58 per unit.
d. $81.75 per unit.
Answer:
Instructions are below.
Explanation:
Giving the following information:
Each glove requires $22 of direct materials and $18 of direct labor. Variable manufacturing overhead cost is $7 per unit and fixed manufacturing overhead cost is $19,000 in total.
There are two methods to calculate the unitary production costs. The variable costing method and the absorption costing method.
The absorption costing method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.
The variable costing method incorporates all variable production costs (direct material, direct labor, and variable overhead).
Variable costing method:
Unitary product cost= 22 + 18 + 7= $47
Absorption costing method:
Unitary fixed costs= 19,000/800= 23.75
Unitary product cost= 47 + 23.75= $70.75
10. In earned value analysis (EVA), we found: SV = -$7,800 at certain point. If the project has a total budget = $65,000 and total duration of 25 days. The project is: a. On schedule b. Ahead of schedule by 0.33 day c. Ahead of schedule by 3 days d. Behind schedule by 0.33 day e. Behind schedule by 3 days
Answer:
3.5
Explanation:
When a single firm can supply a product to an entire market at a lower cost than could two or more firms, the industry is called a a. resource industry. b. exclusive industry. c. government monopoly. d. natural monopoly.
Answer:
D. Natural Monopoly
Explanation:
Natural Monopoly occurs when a single firm can supply a product to an entire market at a lower cost than could two or more firms. A natural monopoly is based on economies of scale.
Economies of scale act as a barrier to entry because one large firm can produce the market output at a lower average cost than several small firms.
A natural monopoly is created by substantial economies of scale.
Natural monopoly is a type of monopoly that exists due to the high starts-up cost or powerful economies of scale.
All of the following statements about GDP are false except Group of answer choices Higher GDP reflects more equal distribution in the economy. Higher the real GDP, happier is the economy. Higher GDP reflects higher economic growth of an economy. Higher GDP reflects better access to education.
Answer:
Higher GDP reflects higher economic growth of an economy
Explanation:
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export
Net export = exports – imports
When exports exceeds import there is a trade deficit and when import exceeds import, there is a trade surplus.
Items not included in the calculation off GDP includes:
1. services not rendered to oneself
2. Activities not reported to the government
3. illegal activities
4. sale or purchase of used products
5. sale or purchase of intermediate products
6. Measures for calculating happiness. so higher GDP doesn't indicate higher happiness
Zoe is a manager at a large company engaged in the acquisition of a smaller company. The smaller company has operated at a loss for the last three years under three different managers, but Zoe is convinced that she can turn the company around despite the evidence to the contrary. Zoe is engaging in ______.
Answer:
managerial hubris
Explanation:
From the scenario that is being described, it can be said that Zoe is engaging in managerial hubris. This term refers to the unrealistic belief help by a manager that they have the ability to manage an asset of a target firm far more efficiently than that firm's current or previous management, without any actual proof or planning. This is exactly what Zoe seems to be doing by stating that she can make the smaller company profitable even though three previous managers failed to do so.
An investor set up his own IRA several years ago and has now decided to get professional advice from an investment adviser. When the investor meets with the investment adviser, he tells the adviser that he has positions in common stock, an index fund, TIPs bonds, a municipal bond fund, and a small amount of cash. Which of these investments should the investment adviser immediately be most concerned about
Answer:
Municipal bond fund
Explanation:
He should be most concerned about this fund because these investments are in the investors IRA, the investment aadviser should be immediately concerned about the municipal bond fund investment.
We have seen that this is a tax deferred account, so a tax free investment is not going to be suitable.
During 2014 Carne Corporation transferred inventory to Nolan Corporation and agreed to repurchase the merchandise early in 2015. Nolan then used the inventory as collateral to borrow from Norwalk Bank, remitting the proceeds to Carne. In 2015 when Carne repurchased the inventory, Nolan used the proceeds to repay its bank loan.
On whose books should the cost of the inventory appear at the December 31, 2014balance sheet date?
a. Carne Corporation
b. Nolan Corporation
c. Norwalk Bank
d. Nolan Corporation, with Carne making appropriate note disclosure of the transaction
Answer:a. Carne Corporation rtdfrtfv xcvbn
Explanation:
Nolan then used the inventory as collateral to borrow from Norwalk Bank, remitting the proceeds to Carne.
Here, goods are temporarily transferred to Nolan corporation to handle financial requirements and agreed to repurchase the merchandise early in 2015, thus the cost inventory will be recorded by Carne corporation.
This is a kind of product financing arrangement.
Hence, the cost of the inventory will appear Carne Corporation at the December 31, 2014 balance sheet date.
Thus, the correct option is a. Carne Corporation.
If my friend asks me for 20 dollars i said tommorow you have to give me 25. IS THIS BIG BRAIN
Answer:
kinda
Explanation:
You'll obviously expect a little interest .
If i were you though i'll give the person up to 3 days to pay back before adding a little interest to it.
PLEASE add your loving THANKS
Which of the following are true?
a. The NPV is the net value created by investing in an asset. The NPV is only as good as the inputs. The NPV does account for all cash flows as well as time value of money.
b. The IRR is the rate of return an investor would earn on an asset they held to maturity if they could reinvest alll cash flows received in an asset with the same return (i.e. the reinvestment rate assumption of the IRR). The IRR does account for all cash flows.
c. Payback is the amount of time to recover the initial investment. No discounting occurs and all cash flows after the payback period are not accounted for. The rule is intuitive and used by small business owners.
d. All of the above are accurate
e. None of the above are accurate.
Answer:
c. Payback is the amount of time to recover the initial investment. No discounting occurs and all cash flows after the payback period are not accounted for. The rule is intuitive and used by small business owners
Explanation:
Net present value is the present value of after tax cash flows from an investment less the amount invested. The NPV does account for all cash flows as well as time value of money.
Internal rate of return is the discount rate that equates the after tax cash flows from an investment to the amount invested . The IRR does account for all cash flows.
The discounted payback period discounts cash flows
Assets Liabilities + NetWorth
Reserves $60 Checkable Deposits $150
Loans 100 Stock Shares 135
Securities 25
Property 100
Refer to the accompanying consolidated balance sheet for the commercial banking system. Assume the required reserve ratio is 12 percent. All figures are in billions of dollars. If commercial bankers decide to hold additional excess reserves equal to 7 percent of any newly acquired deposits, then the relevant monetary multiplier for this banking system will be:______.
a) 5.26
b) 4.76
c) 6.66
d) 8.33
Answer: a) 5.26
Explanation:
Given: Assets Liabilities + NetWorth
Reserves $60 Checkable Deposits $150
Loans 100 Stock Shares 135
Securities 25
Property 100
Required reserve ratio = 12 percent
Additional excess reserves = 7 percent
Then, monetary multiplier = (1/ (Required reserve ratio+Additional excess reserves))
= (1/(12%+7%))
= 1/19%
= 1/ 0.19 [19%=0.19]
≈ 5.26
Hence, the correct option is a) 5.26.
Trina's property is listed with Avalon Homes. The market is a little slow, and Trina's listing is a high-end home, where sales are even slower. She's had several showings, but no offers. The term of the listing agreement is nearly over. What happens when the termination date is reached?
Answer: Listing expires and terminated
Explanation: In the scenario above, Avalon homes only serves to aid the sale of Trina's property and as such will not be held liable for any offense if the property isn't sold within the listing period. Avalon homes isnt responsible for either the slow nature of market at the time or the fact that Trina's property belongs to the high end category which often takes even more time to get a buyer for. Therefore, once the contract period of Trina's listing is reached, the listing expires and it's terminated unless another listing contract is struck between both parties.
Q 8.21: On May 12, 2017, Hudson Merchandise sold merchandise on account to Guzman Housewares for $6,897, terms 3/10, n/30. If Guzman returns merchandise with a sale price of $318 on May 15, 2017, what amount will Hudson record in their Cash account if Guzman pays in full on May 20, 2017
Answer:
Cash received on account =$ 6381.63
Explanation:
The payment terms 3/10, n/30 implies that if Guzman Housewares pays within the next 10 days of purchase, it will receive a discount of 3% of the net invoice amount and that the latest date for the settlement of bill is within the next 30 days of purchase.
The latest payment date to qualify for discount is May 27th i.e ( May 12 + 10) but the payment was made by May 20th , so this qualifies Guzman Housewares for the discount.
The net amount of cash received by Blue Company is computed as follows:
Net sales = Gross sales - Returns inwards ( Sales returns)
= 6,897 - 318 =$6,579
Cash received on account = Net sales - discount
= =$6,579 - (3%×6,579) = $6,381.63
Cash received on account =$ 6381.63
If prices are inflexible, monetary policy: Multiple Choice affects real income but not nominal income. affects both nominal and real income. does not affect real or nominal income. affects nominal income but not real income.
Answer:
Option b (affects both nominal and real income) is the correct answer.
Explanation:
Monetary policy seems to be the mechanism through which a contractionary economic legislative power, usually the bank but rather monetary system panel, controls whether another extremely minimum-term borrowing costs or perhaps the money supply, often setting certain inflation or monthly payment to maintain market stability maintaining generalized commodity trust.Monetary policies aren't exclusive to monetary policies, which are enforced by government international trade and economic growth.The alternatives given should not be in relation to the case in question. So option b seems to be the right one.
Suppose that total sales in an industry in a particular year are $600 million and sales by the top four sellers are $200 million, $150 million, $100 million, and $50 million, respectively. We can conclude that:__________.
A. price leadership exists in this industry
B. the concentration ratio is more than 80 percent.
C. the firms in this industry face a kinked demand curve.
D. this industry is a differentiated oligopoly.
Answer: A: price leadership exists in this industry
Explanation:
hope this helps
Suppose that the total sales in an industry in a particular year are $600 million and sales by the top four sellers are $200 million, $150 million, $100 million, and $50 million, respectively. From this we can conclude that the concentration ratio is more than 80 percent. Thus option (B) is correct.
What is the Concentration ratio?The concentration ratio is calculated as the sum of the market share percentage held by the largest specified number of firms in an industry.
The concentration ratio ranges from 0% to 100%, and an industry's concentration ratio indicates the degree of competition in the industry.
A concentration ratio that rages from 0% to 50% may indicate that the industry is perfectly competitive and is considered a low concentration.
Learn more about the Concentration ratio here: here:https://brainly.com/question/29351872
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People choose to hold a larger quantity of money if a. the interest rate rises, which causes the opportunity cost of holding money to rise. b. the interest rate falls, which causes the opportunity cost of holding money to fall. c. the interest rate falls, which causes the opportunity cost of holding money to rise. d. the interest rate rises, which causes the opportunity cost of holding money to fall.
Answer:
b. the interest rate falls, which causes the opportunity cost of holding money to fall.
Explanation:
the demand for money (the declension to hold money) is inversely related to interest rate. if interest rate is high, individuals would prefer to hold bonds and the demand for money would fall. if interest rate is low, individuals would prefer to hold money.
the opportunity cost of holding money is what would have been earned if money was invested. if interest rate is low, individuals would prefer to hold more money because the amount that would be earned if money was invested in bonds would be low, so the opportunity cost of holding money would be low
although the collapse of prices on the new york stock exchange in october 1929 caused severe problems in the united states, it also had immediate and disastrous consequences in europe because
porque al tener una quiebra del mercado de valores de Nueva York, llevo a una deflación haciendo que esta gran potencia no ayude a los otros países económicamente produciendo estas consecuencias en Europa y otros países del mundo que recibían ayuda de esta gran potencia (EEUU)
OceanGate sells external hard drives for $260 each. Its total fixed costs are $30 million, and its variable costs per unit are $210. The corporate tax rate is 30%. If the economy is strong, the firm will sell 2 million drives, but if there is a recession, it will sell only half as many.
a.
What is the firms' degree of operating leverage (defined as the ratio of the percent change in EBIT to the percent change in sales)?
Degree of operating leverage
b.
If the economy enters a recession, what will be the firm’s after-tax profit? (Enter your answer in millions.)
After-tax profit $ million
Answer:
a. in order to calculate this we must assume that the economy entered a recession:
degree of operating leverage = [($20 - $70)/$70] / [($260 - $520)/$520] = -0.7143 / -0.5 = 1.43
b. $14 million
Explanation:
strong economy:
total sales $520 million
variable costs $420 million
gross profit $100 million
fixed costs $30 million
EBIT $70 million
income taxes $21 million
net income $49 million
weak economy:
total sales $260 million
variable costs $210 million
gross profit $50 million
fixed costs $30 million
EBIT $20 million
income taxes $6 million
net income $14 million
Suppose each stock in the preceding portfolio has a correlation coefficient of 0.4 (p=0.4) with each of the other stocks. If the weighted average of the risk (standard deviation) of the individual securities in the partially diversified portfolio of four stocks is 39%, the portfolio's standard deviation most likely is ________ 39%.
a. equal to,
b. more than,
c. less than
Answer:
c. less than
Explanation:
As in the question, it is mentioned that the correlation coefficient is 0.4 which is less than one
Now if the weighted average of an individual of four stock is 39% so the portfolio standard deviation is less than 39% due to the correlation coefficient which is less than one
Hence, the correct option is c.
Analyzing existing workforce demographics, comparing them to relevant labor markets, and setting goals for correcting under representation describes __________, a requirement of Title VII of the Civil Rights Act of 1964.
Answer:
Affirmative action
Explanation:
Affirmative actions are a set of actions set aside by either the government or voluntary programs that helps to correct the ills of discrimination example :workplace discrimination and it was
a requirement of the Title VII of the civil rights act of 1964.
The civil rights act of 1964 is an act signed into law in 1964 , the act brought an end to the unending discrimination on the bases of sex,religion and race in relation to employment. it also prohibited discrimination of people in public places
Combines technology with manual employee effort to identify trends, perform comparisons and highlight opportunities in supply chain processes, even when large amounts of data are involved. Group of answer choices Supply chain analytics Supply Chain Collaboration Commodization Small Business
Answer:
Supply chain analytics
Explanation:
Supply chain analytics combines technology with manual employee effort to identify trends, perform comparisons and highlight opportunities in supply chain processes, even when large amounts of data are involved.
When supply chain analytics is used to analyze customers by gathering information from them, it would help an organization to better predict future customer demands, needs or want.
Generally, if properly harnessed it also helps business entities to decide what products should be minimized when they are becoming less beneficial, profitable to the business. Additionally, supply chain analytics assist firms to understand what a particular customer's needs could be after their initial order of a product or service. Visual representation tools such as graphs or charts are used in the supply chain analytics.
In _____ technology, raw materials are transformed to a finished product by a series of machine transformations in such a way that the composition of the materials themselves is changed.
Answer:
Continuous process.
Explanation:
In continuous process technology, raw materials are transformed to a finished product by a series of machine transformations in such a way that the composition of the materials themselves is changed.
This ultimately implies that, the continuous process technology refers to a flow production or streamlined method that companies use to manufacture or produce such that the process of converting raw materials are done without any interruption.
It enables companies to continue to produce finished goods 24 hours a day, 7 days a week continuously nonstop.
Some examples of a continuous process technology are production of ice-cream, pasta, fruit juice, mayonnaise, tomato sauce etc.
This type of production method helps companies to reduce wastage, increase efficiency and meet consumer demand in a timely manner as the process of producing finished goods occur concurrently.