Answer:
The correct options are "A, C, and D".
Explanation:
GAAP becomes regarded as a relatively 'rules-based' management framework, seems to be the accounting technique used throughout the United StatesIFRS becomes quite 'principles-based', although this would be the accounting framework used in more than 110 countries throughout the globe.These allow the same approach being used for international and domestic section reporting, which generate reconciliation issues.
A homeowner receives a tax bill that includes an amount for the library district, taxed at $1.00 per $1,000, and the fire protection district, taxed at $2.00 per $1,000. How much does the taxpayer have to pay for these two items if the property's taxable value is $470,000?
Answer:
$1,410
Explanation:
Given the following :
Library district tax:
$1.00 per $1000
Fire protection district tax:
$2.00 per $1000
TAXABLE value of property = $470,000
Library district tax on property :
($470,000 ÷ $1000) * $1.00
470 * $1.00 = $470
Fire protection district tax on property :
($470,000 ÷ $1000) * $2.00
$470 * $2.00 = $940
Toral tax value :
$940 + $470 = $1,410
"ABC Corporation has declared a rights offering to stockholders of record on Friday, December 10th. Under the offer, shareholders need 10 rights to subscribe to 1 new share at a price of $19. Fractional shares can be rounded up to purchase 1 full share. As of the ex date, the stock is trading at $24. The value of the right is:"
Answer:
$0.50
Explanation:
Calculation for the value of the right
Based on the information given we were told that As of the ex date, the stock was trading at $24 which means that the market price of the amount of $24 have been adjusted on the ex date by the exchange where the stock trades.
Using this formula
Value of the right =(Trading stock- Price of shares to subscribe)/Right to subscribe
Let plug in the formula
Value of the right=($24-$19)/10
Value of the right÷$5/10
Value of the right=$0.50
Therefore the value of the right will be $0.50
Q 8.25: Both Fowler Landscaping and Stanley Cleaning Services have estimated their uncollectible accounts for 2018 to be $3,500. In addition, both companies use the allowance method for uncollectible accounts. If Stanley Cleaning Services has to record a larger adjusting entry for their Allowance for Doubtful Accounts account at the end of 2017, what can you assume about the balance of the Allowance for Doubtful Accounts account for each company
Answer:
If both companies have similar bad debt expenses, but the adjustment entries vary, that means that the ending balances (for 2017) of the allowance for doubtful accounts was different.
Explanation:
For example, the ending balances (2017) for the allowance for doubtful accounts for both firms were:
Fowler Landscaping: $500 debit balance
Stanley Cleaning Services: $500 credit balance
the adjustment entry for Fowler Landscaping:
December 31, adjustment entry for bad debt expense
Dr Bad debt expense 4,000
Cr Allowance for doubtful accounts 4,000
the adjustment entry for Stanley Cleaning Services:
December 31, adjustment entry for bad debt expense
Dr Bad debt expense 3,000
Cr Allowance for doubtful accounts 3,000
What can students do with their recorded data in Science Journal?
A) Calculate the standard deviation of a set of data values
B) Review recorded graphs and individual data points
C) Make their data audible
D) Share and export experiments and sensor recordings
Answer:
B. Review recorded graphs and individual data points
C. Make their data audible
D. Share and export experiments and sensor recordings
Explanation:
The Science Journal application refers to the scientific journal at the digital platform that helps users to record projects using pictures, notes, and built-in sensors from the phone of the user. While setting up a new experiment it provides the opportunity to document one's thoughts and findings as he or she begins to ask queries and to come up with their own investigations. Its user-friendly features use sensors and recorders of telephones in an efficient way.
________ determines the point at which the sum of carrying costs and ordering costs are minimized, or the point at which carrying costs equal ordering costs. Group of answer choices Reorder point Economic Order Quantity When to order Inventory turnover
Answer:
Economic Order Quantity
Explanation:
The economic order quantity is the quantity at which the ordering cost and the carrying cost is minimized and equivalent to each other. It is the quantity that should be purchased by the company so that the cost of ordering and the holding cost could be less
The formula to compute it is shown below:
[tex]= \sqrt{\frac{2\times \text{Annual demand}\times \text{Ordering cost}}{\text{Carrying cost}}}[/tex]
Hence, the correct option is b i.e. economic order quantity
Q 8.14: The financial statements of the Imagine Company report net sales of $1,000,000 and accounts receivable of $700,000 and $300,000 at the beginning of the year and end of year, respectively. What is the accounts receivable turnover for the Imagine Company
Answer:
2 times
Explanation:
The computation of accounts receivable turnover is shown below:-
Account receivable turnover ratio = Net credit sales ÷ Average accounts receivable
where,
Net credit sales is $1,000,000
And, the Average accounts receivable is
= (Accounts receivable, beginning of year + Accounts receivable, end of year) ÷ 2
= ( $700,000 + $300,000) ÷ 2
= $500,000
Accounts receivable turnover = Net sales ÷ Average accounts receivable
= $1,000,000 ÷ $500,000
= 2 times
When we take taxes into account, MM's 1958 Proposition could no longer hold, and the capital structure can be essential because of:____________.
a. higher operating income from lower dividends.
b. interest tax shield.
c. higher tax rates on retained earnings than on debt.
d. lower tax rates on dividends than on debt.
Answer:
MM's 1958 PropositionWhen we take taxes into account, MM's 1958 Proposition could no longer hold, and the capital structure can be essential because of:
b. interest tax shield.Explanation:
The propositions of Miller and Modigliani are that a firm's market value does not depend on the capital structure and the cost of equity increases as the percentage of debt increases.
But, when taxes are accounted for, MM's Propositions are no longer tenable, because debts provide interest tax shield and the market value of a firm is impacted by debts' interests and the tax shield that interests provide. Tax burden is reduced with interests on debts. This increases the Earnings per share, an important element in the valuation of a firm's market value.
The cause due to which capital structure is significant as per MM's 1958 proposition would be:
B). Interest tax shield.
MM's 1958 PropositionThe propositions made by MM i.e. Miller and Modigliani state that the value of a specific firm must not rely upon the capital structure it possesses.
They rather laid emphasis on calculating the worth by deducting that the tax shield is being displayed due to the interests received on the debts owned by the company.
This leads the firms to release their burden of taxes by shielding it through debts and as a result, the income increases. Therefore, this element must be involved while calculating the value of the firm.
Thus, option B is the correct answer.
Learn more about "Income Tax" here:
brainly.com/question/2193422
The Federal Open Market Committee (FOMC). Multiple Choice provides advice on banking stability to the Fed. sets policy on the sale and purchase of government bonds by the Fed. follows the actions and operations of financial markets to keep them open and competitive. monitors regulatory banking laws for member banks.
Answer:
follows the actions and operations of financial markets to keep them open and competitive.
Explanation:
In simple words, The Federal Open Market Committee relates to the division of the Federal Reserve Board which decides the course of monetary policy, in particular by coordinating free market activities. The panel is formed up of twelve representatives: the manager, seven FRB supervisors named by the Parliament, and four national federated presidents.
Thus, from the above we can conclude that the correct statement is C.
Calculate the latest start for Task B if its predecessor, Task A, finishes on day 3, its succeeding activity, Task E, has a latest start of day 7, and the duration of Task B is 2 days. Select one: a. day 7 b. day 5 c. Cannot be calculated based upon information given. d. day 3
Answer:
Day 5
Explanation:
Calculation of the latest start
Using this formula
Latest start = Activity's latest finish time-Activity's estimated duration
Where,
Latest Finish time= Day 7
Estimated Duration= 2 days
Let plug in the formula
Latest start= Day 7- 2 days
Latest start = Day 5
Therefore the latest start for Task B will be Day 5
A price floor A. changes the equilibrium price if it is imposed in black markets. B. changes the price and quantity only if it equals the equilibrium price. C. changes the price and quantity if it is set above the equilibrium price. D. changes the price and quantity if it is set below the equilibrium price. E. does not create a black market if it is set above the equilibrium price.
Answer:
C. changes the price and quantity if it is set above the equilibrium price.
Explanation:
A price floor is when the government or an agency of the government sets the minimum price of a good or service.
a price floor is binding if it is set above equilibrium price.
On December 31, 2015, management had determined that it would not be able to collect the $1,200 owed to it by its customer Acme, Inc. On September 15, 2016, a check in the amount of $600 was unexpectedly received from Acme. Management does not expect any future collections from Acme. (The company uses the direct write-off method to account for its uncollectible accounts.) Prepare the necessary journal entry to record the events by selecting the account names and dollar amounts from the drop-down menus. (Use a compound entry instead of preparing two separate journal entries.)
Answer: Please see explanation column
Explanation:
Journal to record uncollectible accounts using the direct write-off method
Date Accounts Debit Credit
Dec 31, 2015 Bad debts expense $1,200
Accounts Receivable -Acme Inc $1,200
Compound Journal entry to record recovery using Direct write off method for the events
Date Accounts Debit Credit
Sep 15, 2016 Acct Receivable —Acme, Inc. $600
Bad Debt Expense $600
Cash $600
Account Receivable—Acme, Inc. $600
Winona contracted with XtremeCast, a broadcast media firm, to cohost an Internet-streaming sports program. Winona and XtremeCast signed a new contract for each episode. In each contract, Winona agreed to work a certain number of days for a certain salary. During each broadcast, Winona was free to improvise her performance. Was Winona an independent contractor? Why or Why not?
Answer: Yes. Winona was an independent contractor
Explanation:
Based on the analysis and the information that have been provided in the question, we can say that Winona was an independent contractor.
An independent contractor is an individual who works for someone else and gets paid for the work done by the employer but it should be noted that the person is not under the control of the employer. .An independent contractor is termed an agent and not employed by the company he or she is working for.
Seller Adelaide and buyer Colin close on a transaction for two rental condos on March 15. They live in a state where the seller is considered the owner of the property on the day of closing. The combined rental income per month is $4,000. How much rental income can Colin expect to earn in March
Answer:
$2,064.48
Explanation:
Given the following :
Combined rental income per month = $4000
Transaction close date = March 15th
Number of days in March = 31
Daily Rental income for the two condos :
Income per month / days of the month
$4000 / 31
= 129.03
Number of days left in March = number of days payment Collins will make
= 31 - 15 = 16 days
Total rental payment in March :
Daily Rental fee × number of days left
$129.03 × 16 = $2,064.48
= $2,064.48
Lenny's Landing has a net Section 1231 gain in the current year of $12,000. In the previous five years, there are $3,000 in unrecaptured Section 1231 losses. How will Lenny's gain be taxed in the current year
Answer:
As the $3,000 is unrecaptured losses, it will be carried forward to this year and would be set off against the current year's capital gains.
Explanation:
The previous year unrecaptured loss of $3000 will carried forward and would be set off against the capital gains of $12,000. The gain for the year can be calculated as under:
Capital Gain for the year = Gain Before unrecaptured losses - Carried Forward Losses
By putting values, we have:
Capital Gain for the year = $12,000 - $3,000 = $9,000
The resultant $9,000 would be the capital gain for the year.
"Manson Industries incurs unit costs of $8 ($5 variable and $3 fixed) in making an assembly part for its finished product. A supplier offers to make 12,400 of the assembly part at $6 per unit. If the offer is accepted, Manson will save all variable costs but no fixed costs. Prepare an analysis showing the total cost saving, if any, Manson will realize by buying the part. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)"
Answer:
There is negative saving on total cost when it buys = -$12400
Explanation:
Per unit fixed costs = $3
Per unit variable costs = $5
Total cost of an unit = $8
Offer by supplier = 12400 units at $6 per units.
First calculate the amount when it makes:
Variable cost = 12400*5 = 62000
Fixed costs = 12400*3 = 37200
Total cost when it makes = 62000 + 37200 = $99200
First calculate the amount when it buys:
Fixed costs = 12400*3 = 37200
Purchase price = 12400*6 = $74400
Total cost when it buys = 37200 + 74400 = $111600
Since the total cost of buying is greater, so it should make the part.
However, the total cost saving when it makes the part = Total cost when it buys -Total cost when it makes
= $111600-$99200
= $12400
There is negative saving on total cost when it buys = -$12400
You have just been put in charge of a project that is already executing. While reviewing the project documentation, you discover that there is no WBS and you are approached by team members to add new components. You discover that there should be a WBS for the project. What is the BEST thing to do
Answer:
Stop project work and create the WBS, and don’t let work continue until it’s created
Explanation:
The WBS refers to the Work breakdown structure in which the work is divided into many parts so that it is easy for each one to work upon it as it does not the pressure for only one person. It's better to divide the work so that it would be completed within a prescribed time
Since in the given situation, as there is no WBS so for that first we have to stop the work after that the WBS should be created and only after the work is started that means until WBS no work will started
Hence, the b option is correct
A broker represents a seller but is currently working with a buyer to find a home. Assuming that no statute has replaced the traditional common law of agency, which of these correctly identifies the parties in this relationship?
Answer:
A). The broker is the seller's agent; the buyer is the broker's customer.
Explanation:
The first statement most aptly identifies the two different parties in this given relationship. The broker is the seller's agent as he would represent him and assist him in listing his properties for sale as per the terms set by him. This would help the seller in receiving the best price for his property and also in ensuring all the legal requirements to be met in time. The buyer is the broker's customer as he assists him in providing a variety of housing options to choose from according to his needs and requirements. Thus, the broker is representing both the buyer and the seller distinctively. Hence, option A is the correct answer.
How much potential money could be created from a new deposit of $2,000 and with a reserve ratio of 10%? How would it affect the ability of bank to create money if the reserve ratio decreased to 5%?
Answer:
To calculate the effect of the bank's ability to create money with a decrease in reserve ratio.
Given:
New deposits= $2000, Reserve ratio= 10 percent
To calculate the money multiplier= 1/10%= 1/0.1= 10
To calculate the money that was created we multiply the multiplier by the new deposits.
Therefore: 10*2000= $20,000
To calculate the amount created when the reserve ratio is 5%
To calculate the money multiplier= 1/5%= 1/0.05= 20
Therefore the money created will be 20*2000= $40,000
Based on $20000 extra gained, a decrease in the reserve ratio to 5% will lead to an increase in the capacity f the bank to make more money.
Explanation:
To calculate the effect of the bank's ability to create money with a decrease in reserve ratio.
Given:
New deposits= $2000, Reserve ratio= 10 percent
To calculate the money multiplier= 1/10%= 1/0.1= 10
To calculate the money that was created we multiply the multiplier by the new deposits.
Therefore: 10*2000= $20,000
To calculate the amount created when the reserve ratio is 5%
To calculate the money multiplier= 1/5%= 1/0.05= 20
Therefore the money created will be 20*2000= $40,000
Based on $20000 extra gained, a decrease in the reserve ratio to 5% will lead to an increase in the capacity f the bank to make more money.
Hector Company gathered the following reconciling information in preparing its March bank reconciliation: Cash balance per books, 3/31$12,000 Notes receivable collected by bank6,000 Outstanding checks9,000 Deposits in transit4,500 Bank service charge75 NSF check1,200 Using the above information, determine the adjusted cash balance for March. a.$7,500 b.$16,725 c.$15,500 d.$12,225
Answer: $16,725
Explanation:
Given the following :
Cash balance per books for March = $12,000
Notes receivable collected by banks = $6000
Bank service charge - $75
Non-sufficient fund (NSF) check - $1200
Therefore, Adjusted cash balance for March:
(balance per books + notes receivable - bank service charge - NSF check)
$(12,000 + 6,000 - 75 - 1200)
$(18000 - 1275)
= $16,725
Once a surplus is accumulated, more people can engage in trade. Initially, the surplus goods of preindustrial economies are distributed through a system of __________, which is the direct exchange of goods or services considered of equal values by the traders.
Answer: battering
Explanation:
Initially, the surplus goods of preindustrial economies are distributed through a system of battering which is the direct exchange of goods or services considered of equal values by the traders.
In trade by barter, no cash is involved but rather goods with thesame values that are equivalent are exchanged.
Altacey, a multinational company that sells consumer durables, divides its target markets on the basis of the density of population in the areas it operates in. It employs more salesmen and spends more money on promotions in cities with high population densities. In the context of consumer market segmentation, which of the following types of market segmentation does Altacey most likely follow?
A. Psychographic segmentation
B. Behavioral segmentation
C. Customer-based segmentation
D. Geographic segmentation
The correct answer is D. Geographic segmentation
Explanation:
Segmentation is a common business strategy that implies considering customers according to different features such as location, cultural values, buying behavior, etc. and creating marketing plans based on this. In the case of geographic segmentation, this occurs if customers are considered according to location, for example by dividing the market or customers according to the city, state, country, etc. or according to population density. This second strategy is the one used by Altacey as the money, employees, products, and other factors are assigned based on density. Thus, the segmentation is geographic.
Willis and Leslie orally agree to the sale of a parcel of land for $50,000: one-half payable now as a down payment; one-half payable in 30 days at the time of closing when the title will be transferred. The buyer, Willis, is to have possession immediately. Willis pays Leslie $25,000, takes possession of the land, and starts building a house. At the time of closing, the house is nearly completed. However, Leslie refuses to transfer the title, claiming the oral contract is not enforceable. This contract is:
Answer:
c. enforceable, because Willis has partially performed the oral contract and made improvements on the land.
Explanation:
Note: This question is not complete as it does not include the options. The complete question is therefore presented before answering the question as follows:
Willis and Leslie orally agree to the sale of a parcel of land for $50,000: one-half payable now as a down payment; one-half payable in 30 days at the time of closing when the title will be transferred. The buyer, Willis, is to have possession immediately. Willis pays Leslie $25,000, takes possession of the land, and starts building a house. At the time of closing, Willis has made a substantial beginning on the house. However, Leslie refuses to transfer the title, claiming the oral contract is not enforceable. This contract is:
a. enforceable, because the statute of frauds does not apply to this interest in land.
b. unenforceable, because there is no writing signed by Leslie.
c. enforceable, because Willis has partially performed the oral contract and made improvements on the land.
d. unenforceable, because the parol evidence rule applies.
The explanation to the answer is therefore given as follows:
An enforceable contract can be described as an oral or written agreement relating to employment, sales, or tenancy between two or more parties that can be imposed in a court of law.
If there is a permission by the law to enforce a contract, the obligation of the assenting parties to the contract is the execution of the agreement.
From the question, the contract is enforceable based on two facts: first, the contract is an oral agreement to the sale of a pacel of land between Wills and Leslie; and second, the oral contract has been executed to some extent by Will since he has made improvements on the land.
Therefore, the correct answer is option c. enforceable, because Willis has partially performed the oral contract and made improvements on the land.
Ahmed emigrated from his war-torn country to the United States three years ago. Recently, he found a job working on an assembly line at an electronics manufacturer. When he came to the U.S., Ahmed left his friends and family behind. Now he is lonely and hopes that his fellow employees will accept him so that he can build some lasting friendships. According to Maslow, Ahmed is looking to satisfy his:_____________.
A) self-actualization needs.
B) safety needs.
C) physiological needs.
D) social needs.
Answer:
D) social needs
Explanation:
Based on the information given Ahmed is looking to satisfy his SOCIAL NEEDS.
Social needs occur in a situation where a person or an individual desire to have relationships or long lasting relationship with others because such person believe that his or her relationships with others will help him/her reduce their emotional concerns such as depression or fear of be alone, which is why SOCIAL NEEDS is important because it makes us desire to be loved and care for by others just as in the case of Ahmed who was looking to satisfy his SOCIAL NEEDS.
Characteristics of a corporation include a.direct management by the shareholders (owners) b.shareholders who are mutual agents c.its inability to own property d.shareholders who have limited liability
Answer:
d.shareholders who have limited liability
Explanation:
A corporation is a legal entity that is separate from its owners. the owners are known as shareholders. the company is managed by a board of directors and not the shareholders. the liability of the owners are limited to the amount invested in the business.
In Peyton v. Quality Motors, a state supreme court held that a minor could cancel a contract for the sale of a car. Now a trial court in the same state is deciding Rikki v. Street Deals, Inc., a case with similar facts. Under the doctrine of stare decisis, the trial court is likely to
Answer:
The trial court is likely to Allowed the minor to cancel the contract
Explanation:
Doctrine of Stare Decisis which simply means Let the decision stand.
Therefore Doctrine of STARE DECISIS can be seen as a legal doctrine that said that a courts has to follow historical cases when they are making a ruling on a similar case.
In order word they ensures that the cases with similar event and facts are been approached in the same or similar way which means that the courts has to follow any legal precedents set by previous decisions just as in the case of between Peyton v. Quality Motors, where a state supreme court held that a minor could cancel a contract for the sale of a car, this mean that the case between Peyton v. Quality is an Historical cases and Now that a trial court in the same state is deciding Rikki v. Street Deals, Inc., a case with similar facts with Peyton v. Quality this means that the court have to use the case of Peyton v. Quality
Under the doctrine of stare decisis to decide on the case of Rikki v. Street Deals.
A country has been in existence for only two years.
In the first year, receipts were $1.0 million and outlays were $1.5 million.
In the second year, receipts were $1.5 million and outlays were $2.0 million.
At the end of the second year, the government had issued debt worth______
Answer:
-1.0 million
Explanation:
the debt issued in the second year is equal to the sum of the excess of revenues over outlays
in year 1, debt = $1.0 million - $1.5 million = $-0.5 million
In year 2, debt = $1.5 million - $2.0 million = $-0.5 million
$-0.5 million + $-0.5 million = -1.0 million
n investment adviser has 3 managing partners and 3 investment adviser representatives. All of the partners have completed the Certified Financial Planner (CFP) program and received the designation. The 3 IARs have been enrolled in a CFP preparation course and are scheduled to take the next CFP exam. The IA publishes an advertisement that states: "All of our partners are Certified Financial Planners." This advertisement is:
Answer: permitted since it is true
Explanation:
From the question, we are informed that an investment adviser has 3 managing partners and 3 investment adviser representatives and that all of the partners have completed the Certified Financial Planner program and received the designation.
We are further told that the 3 IARs have been enrolled in a CFP preparation course and are scheduled to take the next CFP exam. The IA publishes an advertisement that states: "All of our partners are Certified Financial Planners."
This advertisement is allowed because the advertisement is true. Since, we are already given the information that the 3 partners of the firm have done their Certified Financial Programs, therefore, the statement is true and not a misleading one.
what is a good online website for a highschool student to do volunteering?
5) In a building construction project, 7,500feet of insulated ductwork is required. The ductwork is made from 14-gauge steel costing $8.50 per pound. The 24-inch-diameter duct weighs 15 pounds per foot. Insulation for the ductwork costs $10 per foot. Engineering design will cost $16,000, and labor to install the ductwork will amount to $180,000. What is the total cost of the installed ductwork for this project?
Answer:
$1,227,250
Explanation:
Calculation for the total cost of the installed ductwork for this project
First step is to calculate the costs that have to be estimated based on unit technique for both material and insulation
Material: 7,500ft*15 lb/ft*$8.5/lb=$956,250
Insulation: 7,500ft *$10/ft=$75,000
The next step is to calculate for the Total cost
Engineering design cost $16,000,
Labor $180,000
Material $956,250
Insulation $75,000
Total cost $1,227,250
Therefore the Total cost of the installed ductwork for this project will be $1,227,250
Energizer batteries are sold in multipacks to make it more convenient for the consumer, who usually needs more than one battery at a time. Energizer batteries would be classified as a ____ product.
Answer:
convenience
Explanation:
A convenience product is a good that people buy frequently and they don't think a lot or compare which brand to buy. Also, these are products that tend to have a cheap price and can be found in different places. According to this, the answer is that energizer batteries would be classified as a convenience product because it is not an expensive product, it can be found in many places and people buy batteries all the time for their devices.