Answer:
The answer is "A, B , C, D is now considered a single one".
Explanation:
[tex]\to (A = 0.84) \\\\ \to (B=0.86)\\\\ \to (C = 0.88)\\\\ \to (D =0.90)\\\\[/tex]
In the question, the components will be in series throughout or they must both work while the machine operates. The inability of one part fails. ABCD In each adjacent component is assisted and if those modules stop running the system works.
This device for one central ingredient and then one back up becomes perpendicular from each circuit throughout the given problem. For example, Is the device with two adjacent components
Parallel sequence method
Some modules were replicated in parallel here and in sequence. The whole four-circuit welding system is one.
Consistency in parallel systems
The probability each component would fail
The formula for calculating the Probability:
[tex]\text{Probability (single failed component) = 1-(component reliability)}[/tex]
Probability (A-key IC component failure)=1-(component reliability)=1-0.84
Probability (B-key IC component failure) = 1-(component reliability) = 1-0.86
Probability (C-key IC component failure) = 1-(component reliability) = 1-0.88
Probability (D-key IC component failure) = 1-(component reliability) = 1-0.90
Probability (backup fails)=1-0.84
Device stable = probability (at least one part works)
Using the approach as a supplement,
P (The function of at least one component)
= 1-Probability (Failure in all parts)
= 1- The result of single potential error probabilities
= 1-[Probability (Main IC-Fails) \times Probability \times (Backup-Fails)]
The Durability of A[tex]=1- [ (1-0.84)(1-0.84)] \\\\[/tex]
[tex]= 1- 0.256\\\\=0.9744[/tex]
The Durability of B [tex]=1- [ (1-0.86)(1-0.84)]\\[/tex]
[tex]=1- [ (0.14)(0.16)]\\\\=1- 0.0224\\\\= 0.9776[/tex]
The Durability of C [tex]=1- [ (1-0.88)(1-0.84)]\\\\[/tex]
[tex]=1- [ (0.12)(0.16)]\\\\=1- [0.0192]\\\\= 0.9808[/tex]
The Durability of D [tex]=1- [ (1-0.90)(1-0.84)]\\\\[/tex]
[tex]=1- [ (0.10)(1-0.16)]\\\\= 1- 0.016\\\\=0.984[/tex]
Durability of the system sequence
Durability of Device = consumer durability of series components
[tex]=0.9744\times 0.9766 \times 0.9808 \times 0.9840 \\\\=0.9184 \ \ or\ \ 91.84 \% \ \ reliability[/tex]
Note:
Any single part A, B , C, D is now considered a single one
Describe the laws that are enforced by the SEC for companies that publicly sell stock.
(SEC); US security and exchange commission is a body in the United States that has 3 main part mission.
They maintain fair, orderly and efficient market,they also protect investors as well as facilitate capital formation.
SEC enforced some laws to companies that publicly sell stocks,this enforced laws covers the fact that broker dealers,public companies as well as certain insiders are all required to make a regular fillings with SEC. These financial professionals and investors solely rely on these fillings with SEC to get information about companies they are evaluating for the purpose of investment.
Answer:
The SEC ensures that companies publicly selling stock tell the public the truth about their businesses, the stocks they are selling, and the risks involved in investing.
Explanation: Sample Response
Mortgages, loans taken to purchase a property, involve regular payments at fixed intervals and are treated as reverse annuities. Mortgages are the reverse of annuities, because you get a lump-sum amount as a loan in the beginning, and then you make monthly payments to the lender.
You’ve decided to buy a house that is valued at $1 million. You have $100,000 to use as a down payment on the house, and want to take out a mortgage for the remainder of the purchase price. Your bank has approved your $900,000 mortgage, and is offering a standard 30-year mortgage at a 12% fixed nominal interest rate (called the loan’s annual percentage rate or APR). Under this loan proposal, your mortgage payment will be_____________ per month.
Answer:
The mortgage payment will be "$9258".
Explanation:
The given values are:
Principal (P)
= 900000
Interest rate (i)
= [tex]\frac{0.12}{12}[/tex]
= [tex]0.01[/tex]
Total number of monthly payments (n)
= [tex]30\times 12[/tex]
= [tex]360[/tex]
The monthly payment `for the 30 years loan will be:
⇒ [tex]M= P\times \frac{( i\times ( 1 + i ) ^ n )}{( ( ( 1 + i ) ^ n ) - 1 )}[/tex]
On putting the values, we get
[tex]= 900000\times \frac{( 0.01\times ( 1 + 0.01 ) ^ {360} )}{( ( ( 1 + 0.01 ) ^ {360} ) - 1 )}[/tex]
[tex]=9257.51[/tex]
[tex]=9258[/tex]
Now,
The total amount paid will be:
[tex]= 9258\times 360[/tex]
[tex]=33,32,880[/tex] ($)
Several transactions for Trolley, Inc. are presented below. The company adjusts its books only at year-end.
a. On August 1, the company rented some land from another company for $2,660 for a three-year time period. Trolley charged an expense account on August 1.
b. On February 1, Trolley received $8,000 for a four-year technical service contract. Trolley is performing the services evenly over the four-year period. The company credited a liability account, Unearned Service Revenue, on February 1.
c. On May 1, Trolley loaned $3,400 to another company on a 12%, one-year note.
d. The weekly (five-day) payroll of Trolley amounts to $2,500. All employees are paid at the close of business each Friday. December 31 falls on a Thursday.
Required:
Prepare the adjusting entries for December 31.
Answer: See explanation
Explanation:
It should be noted that adjusting entries are normally made at the conclusion of an accounting period so that the income and expenditure will be allocated to the particular period when they took place.
Prepaid rent is calculated as:
= 2660 × (36-5)/36
= 2660 × 31/36
= 2290.56
Unearned revenue:
= 8000 × 11/48
= 1833.33
Accrued interest:
= 3400 × 12% × 8/12
= 3400 × 0.12 × 8/12
= 272
Salary expense:
= 2500 × 4/5
= 2000
The adjusting entry has been attached.
Department E had 4,000 units in Work in Process that were 40% completed at the beginning of the period at a cost of $12,500. During the period, 14,000 units of direct materials were added at a cost of $28,700, and 15,000 units were completed. At the end of the period, 3,000 units were 75% completed. All materials are added at the beginning of the process. Direct labor was $32,450 and factory overhead was $18,710. The number of equivalent units of production for the period for conversion if the first-in, first-out method is used to cost inventories was:_____.a.15,650 b.14,650 c.14,150 d.14,850
Answer:
a.15,650
Explanation:
Calculation for the number of equivalent units of production for the period for conversion
First step is to find the Unit transferred out
Unit transferred out = 4,000 units +14,000 units-3,000 units
Unit transferred out= 15,000 units
Second step is to calculate the Equivalent unit of conversion.
Equivalent unit of conversion = (4,000*60%)+11,000+(3,000*75%)
Equivalent unit of conversion=2,400+11,000+2,250
Equivalent unit of conversion=15,650
Therefore The number of equivalent units of production for the period for conversion if the first-in, first-out method is used to cost inventories was: 15,650
An electronics company makes communications devices for military contracts. The company just completed two contracts. The navy contract was for 2,266 devices and took 28 workers two weeks (40 hours per week) to complete. The army contract was for 5,510 devices that were produced by 29 workers in six weeks (40 hours per week).
A. Calculate the productivity for navy and army contracts in units produced per labor hour.
B. On which contract were the workers more productive?
1.Army contract.
2. Navy contract.
Answer:
(A) Navy contract= 1.0
Army contract= 0.8
(B) Navy contract
Explanation:
(A) The productivity for navy can be calculated as follows
= 28 × 2× 40
= 2240
Since the navy contract was for 2266 devices then productivity is
= 2266/2240
= 1.0 labor hour
The productivity for army can be calculated as follows
= 29×6×40
= 6960
Since the army contract was for 5510 devices then productivity is
= 5510/6960
= 0.8 labor hour
(B) The workers were more productive on the navy contract
Janice Carrillo, a Gainesville, Florida, real estate developer, has devised a regression model to help determine residential housing prices in northeastern Florida. The model was developed using recent sales in a particular neighborhood. The price (Y) of the house is based on the size (square footage = X) of the house. The model is:
Y = 13.473 + 37.65X
The coefficient of correlation for the model is 0.63
a. Use the model to predict the selling price of a house that is 1,860 square feet
b. An 1,860-square-foot house recently sold for $95,000. Explain why this is not what the model predicted
c. If you were going to use multiple regression to develop such a model, what other quantitative variables you might include?
d. What is the value of the coefficient of determination in this problem?
Answer:
i just need points
Explanation:
Consider the market for film streaming services, TV sets, and movie tickets. For each pair, identify whether they are complements or substitutes:
a. Film streaming services and TV sets.
b. Film streaming services and movie tickets TV sets and movie tickets.
c. Suppose a technological advance reduces the cost of manufacturing TV sets.
Answer:
a. Film streaming services and TV sets.
Complements
b. Film streaming services and movie tickets TV sets and movie tickets.
Substitutes
c. Suppose a technological advance reduces the cost of manufacturing TV sets.
Complements
Explanation:
The above answers are true. In some situations, it is a complement because it support each other. For example, a streaming sites and a TV to watch the channels provided by the streaming sites. In other situation, it is a substitute.
The rate of flow of a continuous income stream (in thousands of dollars per day) is given by Find the total income produced during the first ten days of operation. Round to the nearest dollar.
Answer: $2397.9
Explanation:
Here is the complete question:
The rate of flow of a continuous income stream (in thousands of dollars per day) is given by f(t) = 1/t+1. Find the total income produced during the first ten days of operation.
The total Income is gotten as $2397.9. Check the attachment for further explanation.
This information relates to Flounder Real Estate Agency.
Oct. 1 Stockholders invest $29,600 in exchange for common stock of the corporation.
2 Hires an administrative assistant at an annual salary of $30,600.
3 Buys office furniture for $3,660, on account.
6 Sells a house and lot for E. C. Roads; commissions due from Roads, $10,050 (not paid by Roads at this time).
10 Receives cash of $180 as commission for acting as rental agent renting an apartment.
27 Pays $600 on account for the office furniture purchased on October 3.
30 Pays the administrative assistant $2,550 in salary for October.
Required:
Prepare the debit-credit analysis for each transaction.
Answer and Explanation:
Oct 1:
Debit cash $29600
Credit common stock $29600
Oct 2:
Debit no effect
Credit no effect
Oct 3:
Debit office furniture $3660
Credit accounts payable $3660
Oct 6:
Debit accounts receivable $10050
Credit revenue account $10050
Oct 10:
Debit cash $180
Credit revenue $180
Oct 27:
debit accounts payable $600
Credit cash $600
Oct 30:
Debit salary expense $2550
Credit cash $2550
Note :credit and debit can both increase and decrease an account's value depending on if the account is an asset or liability account or an income or expense account
You are given the returns for the following three stocks:_____
Year Stock A Stock B Stock C
Arithmetic Return % Standard Deviation % Geometric Return %
1 3 % 13 % 18 %
2 13 11 33
3 13 23 26
4 13 6 21
5 13 12 3
Calculate the arithmetic return, geometric return, and standard deviation for each stock. (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.)
Please find full question attached Answer:
Arithmetic mean: 7
Geometric mean for
Explanation:
Rose dies with passive activity property having an adjusted basis of $86,000, suspended losses of $27,520, and a fair market value at the date of her death of $120,400. Of the $27,520 suspended loss existing at the time of Rose's death, how much is deductible on her final return or by the beneficiary
Answer:
$27,520
Explanation:
Based on the information given about Rose we were told that she had suspended losses of the amount of$27,520 in which the suspended losses of the amount of $27,520 was still existing at the time of her death , which Simply means that amount that will be deductible on her final return will be the suspended loss amount of $27,520.
In paragraph 1, using a scale of 1 to 10 (10 being the best), rate how proficient you feel with your technology skill right now. How do you envision developing your technology skill in your academic, professional, or home life?
In paragraph 2, list at least three goals you have to improve your technology skill throughout this course and beyond.
Answer with Explanation:
I give myself 5 marks for the techno-skills that I have right now because I am not much familiar with any accounting or ERP software and also that I don't have knowledge of complex functions of Microsoft Excel, Word, Outlook, Powerpoint, Project, etc. Though I have better knowledge related to how to operate mobile applications. My aim in near future is to learn Microsoft Excel and Word complex functions like vlookup, hlookup, Pivot tables and Macros within 3 months period. Furthermore, I would like to learn Quickbooks, SAAP and Oracle at weekends. This accounting software and ERP systems will help me get greater interview listings for jobs in the future. The demand for such software knowledge is continuously growing.
My future goals include:
1. Cloud technology Functioning: The demand in the market for cloud technology users so I am committed to access this skillset in the future for better job opportunities.
2. Learning Artificial Intelligence management and writing associated startup ideas: This will me develop creativity and critical thinking in every aspect of life which includes my academic, professional and home life. According to the World Economic Forum, Creativity and Critical thinkings are ranked among the first four skills that the top companies are looking for in the job market. Artificial Intelligence applications inclusion in business operations: develops a sense of Strong brand. I am getting after it in near future.
3. Studying some basic Coding: Learning basic coding includes having some knowledge of HTML and CSS coding for business website management. This is just like managing a social media account but it is more different. It helps us to generate better viewership, sales promotion and brand recognition.
Don't forget to rate the answer.
Societal marketing concept in satisfying the consumers needs.
Answer:
Is that the only answer or just one I can help u with p
Explanation:
Rambo-Conduit Corporation manufactures plastic conduit that is used in the cable industry. A conduit is a tube that encircles and protects the underground cable. In the process of making the plastic conduit, called extrusion, the melted plastic (resin) is pressed through a die to form a tube. Scrap is produced in this process. Information from the cost of production reports for three months is as follows, assuming that inventory remains constant:
May June July
Resin pounds input into the process 470,000 700000 650,000
Price per pound x81.50 x81.50 x81.50
Plastic material costs 493,000 6,40,000 6,77,000
Conversion costs 80,000 120,000 115000
Conduit output 800,000 1200,000 1130,000
from the process (feet)
Assuming that there is one-half pound of resin per foot of the finished product, determine the resin materials cost per foot of finished product for June.
a. $0.53
b. $0.60
c. $0.54
d. None of these choices are correct.
Answer: a. $0.53
Explanation:
Material Cost per foot of finished product = Material Cost/ Number of feet produced in June
Plastic Material Cost in June= $640,000
Number of Feet produced in June = 1,200,000
Material cost per foot of finished product
= 640,000/ 1,200,000
= $0.53
In the website “Conflict Management Skills” that you explored, all of the following are “enemies” we have to conquer in order to be constructive conflict managers except:
a.
fear
b.
desire to win
c.
desire to explain our side first
d.
desire to listen to the other person
Answer:
The answer is D. Desire to listen to the other person
Explanation:
Answer:
D. desire to listen to the other person
Explanation:
Just did the quiz.
The powers of Congress in relation to the money supply
Broomhilda manufactures broomsticks for her fellow witch (and wizard) friends. Broomhilda uses a job order cost system and applies overhead to production on the basis of direct labor cost. On September 1, Job 50 (a super deluxe broom complete with a separate sleep space and shower area as well as an espresso machine) was the only job in process. The costs incurred prior to September on this job were as follows: direct materials $20,000, direct labor $12,000, and manufacturing overhead $16,000. As of September 1, Job 49 (a broom shaped like a cat with some extra cargo space for all the cats) had been completed at a cost of $90,000 and was part of finished goods inventory. There was a $15,000 balance in the Raw Materials Inventory account. During the month of September, Broomhilda began production on Jobs 51 and 52, and completed Jobs 50 and 51. Jobs 49 and 50 were also sold on account during the month for $122,000 and $158,000, respectively. The following additional events occurred during the month.
1. Purchased additional raw materials of $90,000 on account.
2. Incurred manufacturing overhead costs as follows: indirect materials $17,000 (including broom polish and specially crafted scissors to trim stray twigs), indirect labor $20,000 (Hansel and Gretel clean the shop and run errands for the elves), depreciation expense on equipment $12,000 (Broomhilda has multiple molding stations for each broom she creates), and various other manufacturing overhead costs on account $16,000.
3. Assigned direct materials and direct labor to jobs as follows:
Job no. Direct Materials Direct Labor
50 10,000 5,000
51 39,000 25,000
52 30,000 20,000
Required:
1. Calculate the predetermined overhead rate for September, assuming Broomhilda estimates total manufacturing overhead costs of $840,000 and direct labor costs of $700,000 for September.
2. Open job cost sheets for Jobs 50, 51, and 52. Enter the September 1 balances on the job cost sheet for Job 50.
3. Prepare the journal entries to record the purchase of raw materials, and the manufacturing overhead costs incurred during the month of March.
4. Prepare the summary journal entries to record the assignment of direct materials, direct labor, and manufacturing overhead costs to production. In assigning overhead costs, use the overhead rate calculated in (1). Post all costs to the job cost sheets as necessary.
5. Total the job cost sheets for any job(s) completed during the month. Prepare the journal entry (or entries) to record the completion of any job(s) during the month.
6. Prepare the journal entry (or entries) to record the sale of any job(s) during the month.
7. What is the balance in the Finished Goods Inventory account at the end of the month? What job(s) does this balance consist of? 8. What is the amount of over- or underapplied overhead? Prepare the journal entry to close this to Cost of Goods Sold
Answer:
Broomhilda
1. Predetermined overhead rate = overhead costs/direct labor costs
= $840,000/$700,000
= $1.20 per direct labor cost
2. Job Cost Sheets for Job 50 Job 51 Job 52
Beginning balances:
Direct materials $20,000
Direct labor $12,000
Manufacturing overhead $16,000
3. Journal Entries for the purchase of raw materials and manufacturing overhead costs:
Debit Raw materials $90,000
Credit Accounts Payable $90,000
To record the purchase of raw materials on account.
Debit Manufacturing overhead $65,000
Credit Raw materials $17,000
Credit Wages $20,000
Credit Depreciation expense $12,000
To record the manufacturing overhead incurred.
4. Debit Job 50 $21,000
Credit Raw materials $10,000
Credit Direct labor $5,000
Credit Manufacturing overhead $6,000
To record the assignment of direct materials, direct labor, and manufacturing overhead costs to Job 50.
Debit Job 51 $94,000
Credit Raw materials $39,000
Credit Direct labor $25,000
Credit Manufacturing overhead $30,000
To record the assignment of direct materials, direct labor, and manufacturing overhead costs to Job 51
Debit Job 52 $74,000
Credit Raw materials $30,000
Credit Direct labor $20,000
Credit Manufacturing overhead $24,000
To record the assignment of direct materials, direct labor, and manufacturing overhead costs to Job 52
5. Job Cost Sheets for Job 50 Job 51 Job 52
Beginning balances:
Direct materials $20,000
Direct labor $12,000
Manufacturing overhead $16,000
Direct materials $10,000 $39,000 $30,000
Direct labor $5,000 $25,000 $20,000
Manufacturing overhead $6,000 $30,000 $24,000
Total $69,000 $94,000
6. Debit Accounts Receivable $280,000
Credit Sales Revenue $280,000
To record the sale of goods (Jobs 49 and 50 for $122,000 and $158,000, respectively).
Debit Cost of Goods Sold $159,000
Credit Job 49 $90,000
Credit Job 50 $69,000
To record the cost of goods sold for Jobs 49 and 50.
7. Finished Goods Inventory balance = $94,000
This balance consists of Raw materials $39,000, Direct labor $25,000, and Manufacturing overhead $30,000 for Job 51.
8. The amount of over-or underapplied overhead:
Overhead incurred = $65,000
Overhead applied = $60,000
Underapplied = $5,000
Debit Cost of Goods Sold $5,000
Credit Manufacturing overhead $5,000
To close the underapplied overhead to the cost of goods sold.
Explanation:
Jobs 50 costs prior to September:
direct materials $20,000,
direct labor $12,000, and
manufacturing overhead $16,000
Total costs so far = $$48,000
Job 49 completed at a cost of $90,000
Beginning balance of Raw Materials Inventory = $15,000
Started Jobs 51 and 52, completed Jobs 50 and 51
Sold Jobs 49 and 50 on account for $122,000 and $158,000, respectively.
Additional events:
Raw materials purchased on account = $90,000
Manufacturing overhead incurred:
indirect materials $17,000
indirect labor $20,000
depreciation expense on equipment $12,000
Various manufacturing overhead = $16,000
Total = $65,000
Assignment of direct materials and direct labor to jobs:
Job no. Direct Materials Direct Labor Manufacturing overhead
50 10,000 5,000 $6,000
51 39,000 25,000 $30,000
52 30,000 20,000 $24,000
Estimated total manufacturing overhead costs = $840,000
Estimated direct labor costs = $700,000
Predetermined overhead rate = overhead costs/direct labor costs
= $840,000/$700,000
= $1.20 per direct labor cost
Best Buy Co, Inc., is a leading retailer specializing in consumer electronics. A condensed income statement and balance sheet for the fiscal year ended January 28, 2017, are shown below. Best
Buy Co, Inc.
Balance Sheet
At January 28, 2017
($ in millions)
Assets
Current assets:
Cash and cash equivalents $2,240
Short-term investments 1,681
Accounts receivable (net) 1,347
Inventory 4,864
Other current assets 384
Total current assets 10,516
Long-term assets 3,340
Total assets $13,856
Liabilities and Shareholders’ Equity
Current liabilities:
Accounts payable $4,984
Other current liabilities 2,138
Total current liabilities 7,122
Long-term liabilities 2,025
Shareholders’ equity 4,709
Total liabilities and
shareholders’ equity $13,856
Best Buy Co, Inc.
Income Statement
For the Year Ended January 28, 2017
($ in millions)
Revenues $39,403
Costs and expenses 37,549
Operating income 1,854
Other income (expense) (38)
Income before income taxes 1,816
Income tax expense 609
Net income $1,207
Includes $72 of interest expense.
Required:
1-A. Calculate the current ratio for Best Buy for its fiscal year ended January 28, 2017.
1-B. Calculate the acid-test ratio for Best Buy for its fiscal year ended January 28, 2017.
1-C. Calculate the debt to equity ratio for Best Buy for its fiscal year ended January 28, 2017.
1-D. Calculate the times interest earned ratio for Best Buy for its fiscal year ended January 28, 2017.
Answer
A)=1.47655 times
B)0.74 times
C)1.94 times
D)26.2 times
Explanation
The formulas and calculations are shown below:
1-A)the current ratio for Best Buy for its fiscal year ended January 28, 2017.
= Total Current assets ÷ total current liabilities=[10516 ÷ 7122]
=1.47655
1-B)the acid-test ratio for Best Buy for its fiscal year ended January 28, 2017 can be calculated below as
Quick assets = Cash and cash equivalents + short-term investments + Accounts receivable (net)
=2240 + 1681 + 1347=5268
the current liabilities = 7122
If we substitute the values into the above expresion, we have
=$ 5652 ÷ $7122
= 0.74 times
1-C.) the debt to equity ratio for Best Buy for its fiscal year ended January 28, 2017.
Debt equity ratio = (Total debt ÷ Shareholders’ Equity)
where,
Total debt = Total current liabilities + Long-term liabilities
Total current liabilities =$ 9147
the Shareholders’ equity is $4709
If we substitute the values we have,
$9147 ÷$ 4709
= 1.94 times
1-D. Calculate the times interest earned ratio for Best Buy for its fiscal year ended January 28, 2017 can be calculated as
Times interest earned ratio = (Earnings before interest and taxes) ÷ (Interest expense)
Earnings before interest and taxes = Income before income tax + Interest expense + income tax expense
$1854 - $38 + $72
=$1888
Interest expense=$72
Then substitute into above expresion, we have
=$ 1888 ÷$ 72
= 26.2 times
Wildhorse Co. entered into these transactions during May 2022, its first month of operations.
1. Stockholders invested $33,000 in the business in exchange for common stock of the company.
2. Purchased computers for office use for $26,900 from Ladd on account.
3. Paid $3,100 cash for May rent on storage space.
4. Performed computer services worth $15,300 on account.
5. Performed computer services for Wharton Construction Company for $3,500 cash.
6. Paid Western States Power Co. $8,700 cash for energy usage in May.
7. Paid Ladd for the computers purchased in (2).
8. Incurred advertising expense for May of $3,400 on account.
9. Received $11,100 cash from customers for contracts billed in (4).
Required:
Using a tabular analysis, show the effect of each transaction on the accounting equation. Provide explanations for changes to Stockholders' Equity.
Answer and Explanation:
Find answer and explanation attached
Derick works as a customer service representative in a car showroom. He needs to interact with several customers every day. In which situation would Derick deliver the most effective customer service?
Answer: c) while handling a complaint that a customer is furious about
Explanation:
Answer:
while handling a complaint that a customer is furious about
Explanation: I took the test
Give two examples of complements in economics
Answer:
examples of complement in economics
it's a good
Suppose you are going to purchase a house. You negotiate a great deal and your bank agrees to lend you money for 30 years at 4% APR (annual percentage rate). The house costs $300,000 and you pay 20% down and finance the rest. Compute (round it to 2 numbers after the decimal point) - do not include $ sign.
(1) Monthly payment: no commas -__________ 2 decimala places.
(2) The interest payment portion of 1st Monthly payment:______ 2 decimal places. 1
(3) The principal payment portion of the 1st Monthly payment:_______ 2 decimal places
(4) Balance after the 1st payment: -no commas and ___________2 decimal places.
Answer:
1. The amount of the house that was financed is;
= 300,000 * ( 1 - 20%)
= $240,000
The amount that will be paid per month is an annuity with the present value being $240,000.
Period = 30 years * 12 months = 360 months
Interest = 4%/12
240,000 = Annuity * (1 - ( 1 + r) ^-n)/r
240,000 = Annuity * ( 1 - ( 1 + 4%/12) ^-n) / r
Annuity = 240,000/209.46
Annuity = $1,145.80
2. Interest Portion;
= Amount Owed * Interest rate
= 240,000 * 4%/12
= $800
3. Principal portion = Monthly payment - Interest
= 1,145.80 - 800
= $345.80
4. Balance after first payment
= Principal - Principal repayment
= 240,000 - 345.80
= $239,654.20
If a country's economic data show private savings (S) of $9 billion, government spending (G) of $7 billion, tax revenue (T) of $7 billion, and a trade surplus (X-M) of $3 billion, then what does private investment (I) equal?
Answer: $6 billion
Explanation:
Savings = Private Investment + Trade Surplus - (Tax revenue - Government spending)
Private Investment = Savings + (Tax revenue - Government spending) - Trade surplus
= 9 + ( 7 - 7 ) - 3
= $6 billion
On August 1, 20Y7, Rafael Masey established Planet Realty, which completed the following transactions during the month:
a. Rafael Masey transferred cash from a personal bank account to an account to be used for the business in exchange for Common Stock, $17,500.
b. Purchased supplies on account, $2,300.
c. Earned sales commissions, receiving cash, $13,300.
d. Paid rent on office and equipment for the month, $3,000.
e. Paid creditor on account, $1,150. Paid dividends, $1,800.
f. Paid automobile expenses (including rental charge) for month, $1,500, and miscellaneous expenses, $400.
g. Paid office salaries, $2,800.
Determined that the cost of supplies used was $1,050.
Answer:
a. Dr Cash 17,500
Cr Common Stock 17,500
b. Dr Supplies 2,300
Cr Account payable 2,300
c. Dr Cash 13,300
Cr Sales commission 13,300
d. Dr Rent expense 3,000
Cr Cash 3,000
e. Dr Account payable 1,150
Cr Cash 1,150
f. Dr Dividend 1,800
Cr Cash 1, 800
g. Dr Automobile expense 1,500
Dr Miscellaneous expense 400
Cr Cash 1,900
h. Dr Salaries expense 2,800
Cr Cash 2,800
i. Dr Supplies expense 1,050
Cr Supplies 1,050
Explanation:
Preparation of Journal entry
a. Dr Cash 17,500
Cr Common Stock 17,500
b. Dr Supplies 2,300
Cr Account payable 2,300
c. Dr Cash 13,300
Cr Sales commission 13,300
d. Dr Rent expense 3,000
Cr Cash 3,000
e. Dr Account payable 1,150
Cr Cash 1,150
f. Dr Dividend 1,800
Cr Cash 1, 800
g. Dr Automobile expense 1,500
Dr Miscellaneous expense 400
Cr Cash 1,900
(1,500+400)
h. Dr Salaries expense 2,800
Cr Cash 2,800
i. Dr Supplies expense 1,050
Cr Supplies 1,050
Amber, a publicly held corporation, had been paying its chief executive officer (CEO) an annual salary of $900,000. Amber instituted a performance-based compensation plan, effective January 1, 2017, that increased the CEO's 2017 compensation by $300,000. It is anticipated that the plan will provide an additional $350,0000 in 2019. Prepare a letter to Amber's board of directors explaining how much of the CEO's 2019 compensation is deductible and the consequences of any changes that might be made to the compensation plan in 2019. Address the letter to the board chairperson, Angela Riddle, whose address is 100 James Tower, Cleveland, OH 44106. Dear Ms. Riddle:
I am responding to your inquiry regarding the current compensation plans for Amber Corporation's president. The Board agreed to amend the president's compensation plan effective January 1, 2017, to allow an increase in the compensation she can earn through a performance-based compensation plan. In 2017, the president earned an additional $300,000 under her revised contract. This amount increased to $350,000 in 2018 and 2019, and it is projected that she will increase her earnings by $350,000 under this plan in 2020.
In general, any salary paid to the president in excess of $_______ is deemed excessive executive compensation and not deductible. Before 2018, compensation earned under a performance-based compensation option was not subject to this limitation. Therefore, in 2017, Amber deducted $________ as compensation.
Answer:
Amber
October 8, 2020
Attn: Angela Riddle
The Board Chairperson
Amber Corporation
100 James Tower
Cleveland, OH 44106
Dear Ms. Riddle,
Re: President's Performance-based Compensation
I am responding to your inquiry regarding the current compensation plans for Amber Corporation's president.
The Board agreed to amend the president's compensation plan effective January 1, 2017, to allow an increase in the compensation she can earn through a performance-based compensation plan.
In 2017, the president earned an additional $300,000 under her revised contract. This amount increased to $350,000 in 2018 and 2019, and it is projected that she will increase her earnings by $350,000 under this plan in 2020.
In general, any salary paid to the president in excess of $_1 million______ is deemed excessive executive compensation and not deductible. Before 2018, compensation earned under a performance-based compensation option was not subject to this limitation. Therefore, in 2017, Amber deducted $__1.2 million______ as compensation.
I hope that the above clarifies the issue.
Yours sincerely,
Tony Ohagwam, FCCA
Chief Finance Officer
Explanation:
This is an official letter to the Chairperson of the Board of Directors of Amber Corporation. In this letter, the issue of the President's compensation and the tax deduction for the corporation is clearly presented. It is the writer's hope that the subjects of the enquiry are adequately resolved.
Determine the amount of net income (LO3-1) During the course of your examination of the financial statements of Trojan Corporation for the year ended December 31, 2021, you come across several items needing further consideration. Currently, net income is $88,000.
1. An insurance policy covering 12 months was purchased on October 1, 2021, for $16,800. The entire amount was debited to Prepaid Insurance and no adjusting entry was made for this item in 2021.
2. During 2021, the company received a $2,800 cash advance from a customer for services to be performed in 2022. The $2,800 was incorrectly credited to Service Revenue.
3. There were no supplies listed in the balance sheet under assets. However, you discover that supplies costing $2,150 were on hand at December 31, 2021.
4. Trojan borrowed $58,000 from a local bank on September 1, 2021. Principal and interest at 12% will be paid on August 31, 2022. No accrual was made for interest in 2021.
Required:
Using the information in 1 through 4 above, determine the proper amount of net income as of December 31, 2021. (Do not round intermediate calculations. Amounts to be deducted should be indicated with a minus sign.)
Net income (unadjusted)
1. Adjustment for insurance
2. Adjustment for deferred revenue
3. Adjustment for supplies
4. Adjustment for interest
Net income (adjusted)
Answer:
$81,410
Explanation:
Calculation to determine amount of net income as of December 31, 2021
Net income ( Unadjusted ) $88,000
1. Adjustment for insurance -$4,200
2. Adjustment for deferred Revenue -$2,800
3. Adjustment for supplies $2,150
4. Adjustment for interest -$1,740
Net Income ( Adjusted ) $81,410
1. Calculation for insurance amount to be debited as Expense .
October to December will give us 3 months
Hence,
Insurance Expense = $16,800 * 3 / 12 Insurance Expense= $ 4,200
Which means that insurance expense amount of $4,200 will be less from net income.
2. Since the advance amount that is recieved for the services which is about to be performed next year is unearned revenue which means that the amount of $2,800 which is cash advance will less from net income.
3. We are going to add supplies in hand to net income because it will increase the net income of the company .
4. Based on the information given Interest on loan from the month of September 1,2021 to the month of December 31, 2021 will give us 4 months which means that we are going to debit as expense and less it from the net income.
Accrued Interest = $58,000 * 4/12 * 9%
Accrued Interest = $1,740
Therefore the amount of net income as of December 31, 2021 is $81,410
You decide that you're going to send Carolyn an email to reinforce what you are expecting her to do with respect to the missing package.
Answer:
what's the question to this sentence
Required:
1. Prepare general journal entries to record these transactions using the following titles:
Cash (101); Accounts Receivable (106); Prepaid Insurance (108); Office Equipment (163); Drafting Equipment (164); Building (170); Land (172); Accounts Payable (201); Notes Payable (250); Common Stock (307); Dividends (319); Engineering Fees Earned (402); Wages Expense (601); Equipment Rental Expense (602); Advertising Expense (603); and Repairs Expense (604).
Transactions:
Aracel Engineering completed the following transactions in the month of June.
Jenna Aracel, the owner, invested $205,000 cash, office equipment with a value of $8,200, and $70,000 of drafting equipment to launch the company in exchange for common stock.
The company purchased land worth $56,000 for an office by paying $9,800 cash and signing a long-term note payable for $46,200.
The company purchased a portable building with $58,000 cash and moved it onto the land acquired in b.
The company paid $4,200 cash for the premium on an 18-month insurance policy.
The company completed and delivered a set of plans for a client and collected $7,600 cash.
The company purchased $34,000 of additional drafting equipment by paying $10,400 cash and signing a long-term note payable for $23,600.
The company completed $16,000 of engineering services for a client. This amount is to be received in 30 days.
The company purchased $1,950 of additional office equipment on credit.
The company completed engineering services for $27,000 on credit.
The company received a bill for rent of equipment that was used on a recently completed job. The $1,591 rent cost must be paid within 30 days.
The company collected $9,000 cash in partial payment from the client described in transaction g.
The company paid $1,100 cash for wages to a drafting assistant.
The company paid $1,950 cash to settle the account payable created in transaction h.
The company paid $1,110 cash for minor maintenance of its drafting equipment.
The company paid $9,880 cash in dividends.
The company paid $2,000 cash for wages to a drafting assistant.
The company paid $4,300 cash for advertisements on the Web during June.
Answer:
Jenna Aracel, the owner, invested $205,000 cash, office equipment with a value of $8,200, and $70,000 of drafting equipment to launch the company in exchange for common stock.
Dr Cash 205,000
Dr Office equipment 8,200
Dr Drafting equipment 70,000
Cr Common stock 283,200
The company purchased land worth $56,000 for an office by paying $9,800 cash and signing a long-term note payable for $46,200.
Dr Land 56,000
Cr Cash 9,800
Cr Notes payable 46,200
The company purchased a portable building with $58,000 cash and moved it onto the land acquired in b.
Dr Building 58,000
Cr Cash 58,000
The company paid $4,200 cash for the premium on an 18-month insurance policy.
Dr Prepaid insurance 4,200
Cr Cash 4,200
The company completed and delivered a set of plans for a client and collected $7,600 cash.
Dr Cash 7,600
Cr Engineering fees 7,600
The company purchased $34,000 of additional drafting equipment by paying $10,400 cash and signing a long-term note payable for $23,600.
Dr Drafting equipment 34,000
Cr Cash 10,400
Cr Notes payable 23,600
The company completed $16,000 of engineering services for a client. This amount is to be received in 30 days.
Dr Accounts receivable 16,000
Cr Engineering fees 16,000
The company purchased $1,950 of additional office equipment on credit.
Dr Office equipment 1,950
Cr Accounts payable 1,950
The company completed engineering services for $27,000 on credit.
Dr Accounts receivable 27,000
Cr Engineering fees 27,000
The company received a bill for rent of equipment that was used on a recently completed job. The $1,591 rent cost must be paid within 30 days.
Dr Equipment rental expense
Cr Accounts payable 1,591
The company collected $9,000 cash in partial payment from the client described in transaction g.
Dr Cash 9,000
Cr Accounts receivable 9,000
The company paid $1,100 cash for wages to a drafting assistant.
Dr Wages expense 1,100
Cr Cash 1,100
The company paid $1,950 cash to settle the account payable created in transaction h.
Dr Accounts payable 1,950
Cr Cash 1,950
The company paid $1,110 cash for minor maintenance of its drafting equipment.
Dr Repairs expense 1,110
Cr Cash 1,110
The company paid $9,880 cash in dividends.
Dr Dividends 9,880
Cr Cash 9,880
The company paid $2,000 cash for wages to a drafting assistant.
Dr Wages expense 2,000
Cr Cash 2,000
The company paid $4,300 cash for advertisements on the Web during June.
Dr Advertising expense 4,300
Cr Cash 4,300
The difference between the revenue from selling inventory and the cost of that inventory is measured as:
Answer:
Gross Profit
Explanation:
Gross Profit is calculated as Selling Price less Cost of Goods Sold. Gross Profit is found in Trading Account.
Match the following sentecnes with followings.
a. A graphical object showing the relationship between the price of a good and the amount of the good that buyers are willing and able to purchase at various prices
b. The amount of a good that buyers are willing and able to purchase at a given price
c. The claim that, with other things being equal, the quantity demanded of a good falls when the price of that good rises
d. A table showing the relationship between the price of a good and the amount that buyers are Willing and able to purchase at various prices
1. Quantity Demanded
2. Demand Curve
3. Demand Schedule
4. Law of Demand
Your coworker Rina is really concerned about a project that she has just been assigned. She is in charge of analyzing and determining conditions in the market for televisions from an extensive sales report. If Rina's boss is interested in a graphical representation of the relationship between the price and quantity of televisions demanded, you would advise your coworker to construct __________ using the data provided. However, if Rina's boss is more interested in the detailed numbers used to construct this visual representation, you would instead advise your coworker that __________would be more appropriate.
Answer:
a) & 2) ; b) & 1) ; c) & 4) ; d) & 3)
Demand Curve ; Demand Schedule
Explanation:
a) A graphical object showing the relationship between the price of a good and the amount of the good that buyers are willing and able to purchase at various prices : 2) Demand Curve
b) The amount of a good that buyers are willing and able to purchase at a given price : 1) Quantity Demanded
c) The claim that, with other things being equal, the quantity demanded of a good falls when the price of that good : 4) Law of Demand
d) A table showing the relationship between the price of a good and the amount that buyers are Willing and able to purchase at various prices : 3) Demand Schedule
If Rina's boss is interested in a graphical representation of the relationship between the price and quantity of televisions demanded, you would advise your coworker to construct Demand Curve using the data provided. If Rina's boss is more interested in the detailed numbers used to construct this visual representation, you would instead advise your coworker that Demand Schedule would be more appropriate.