Patrick Goldsmith had $2964.47 after 10 years, IF deposited $1000 in an account that earned simple interest at an annual rate of 5% and left it there for 7 years.
To calculate the final amount of money after 10 years, we need to find the amount of money in each account after the specified time period and then add them together.
Simple Interest Account:
The interest earned on the account with simple interest can be calculated as:
I = P * r * t
where P is the principal (initial amount), r is the annual interest rate, and t is the time period in years.
In this case, P = $1000, r = 5%, and t = 7 years. Therefore, the interest earned is:
I = 1000 * 0.05 * 7 = $350
So, the total amount of money in the simple interest account after 7 years is:
A = P + I = $1000 + $350 = $1350
Compounded Quarterly Account:
The interest earned on the account with quarterly compounded interest can be calculated using the formula:
A = P * (1 + r/n)^(n*t)
where P is the principal, r is the annual interest rate, n is the number of times the interest is compounded per year, and t is the time period in years.
In this case, P = $1350 (the amount from the simple interest account), r = 5%, n = 4 (quarterly compounding), and t = 3 years. Therefore, the amount of money in the compounded quarterly account after 3 years is:
A = 1350 * (1 + 0.05/4)^(4*3) = $1614.47
Finally, we add the amounts from the two accounts to get the total amount of money after 10 years:
Total amount = $1350 + $1614.47 = $2964.47
Therefore, Patrick Goldsmith had $2964.47 after 10 years.
To know more about amount, here
brainly.com/question/13024617
#SPJ4
Fallow Corporation has two separate profit centers. The following information is available for the most recent year: West Division East Division Sales (net) $ 250,000 $ 400,000 Salary expense 31,000 45,000 Cost of goods sold 95,000 195,000 The West Division occupies 6,250 square feet in the plant. The East Division occupies 3,750 square feet. Rent, which was $ 50,000 for the year, is an indirect expense and is allocated based on square footage. Compute operating income for the West Division
To compute the operating income for the West Division of Fallow Corporation, we need to first allocate the rent expense based on the square footage occupied by each division.
The total square footage in the plant is 10,000 (6,250 + 3,750). The West Division occupies 6,250/10,000 or 62.5% of the total square footage, while the East Division occupies 3,750/10,000 or 37.5% of the total square footage.
Allocating the rent expense accordingly, the West Division's share of the rent is $ 50,000 x 62.5% = $ 31,250.
Next, we can calculate the West Division's operating income using the following formula:
Operating income = Sales - Cost of goods sold - Salary expense - Rent
Plugging in the numbers for the West Division, we get:
Operating income = $ 250,000 - $ 95,000 - $ 31,000 - $ 31,250 = $ 92,750
Therefore, the operating income for the West Division of Fallow Corporation for the most recent year is $ 92,750.
Learn more about "computing operating income of Fallow Corporation" https://brainly.com/question/31881462
#SPJ11
The operating income for the West Division of Fallow Corporation is $92,750.
To compute the operating income for the West Division of Fallow Corporation, we need to first allocate the rent expense based on the square footage of each division.
Total square footage = 6,250 + 3,750 = 10,000
Allocation rate = Rent expense / Total square footage
Allocation rate = $50,000 / 10,000 = $5 per square foot
Rent expense for the West Division = 6,250 x $5 = $31,250
Now we can calculate the operating income for the West Division:
Sales (net) = $250,000
Cost of goods sold = $95,000
Salary expense = $31,000
Rent expense = $31,250
Operating income = Sales - Cost of goods sold - Salary expense - Rent expense
Operating income = $250,000 - $95,000 - $31,000 - $31,250
Operating income = $92,750
Therefore, the operating income for the West Division of Fallow Corporation is $92,750.
Learn more about Operating income: https://brainly.com/question/24165947
#SPJ11
You are required to identify, categorise and critique Netflix asa marketing innovation, give the relevant background informationand the context of the innovation.
A student has asked to identify, categorize, and critique Netflix as a marketing innovation. The relevant background information and the context of the innovation should also be provided. Netflix is a streaming service that was first established in the United States in 1997 as a DVD rental service. The company began offering streaming services in 2007. Since then, the company has expanded its services to include original content, documentaries, and movies.
Netflix can be categorized as a marketing innovation because it has transformed the way people consume media. The company has made it possible for people to watch television shows and movies at any time, from anywhere. This has been achieved through the development of a proprietary streaming platform, as well as partnerships with major television networks and movie studios.
The innovation is important because it has disrupted traditional television networks and created a new way for people to consume media. It has also created new opportunities for content creators, such as independent filmmakers and documentarians. However, there are criticisms of the company's business model, particularly with regards to its use of data and privacy concerns.
Learn more about relevant background: https://brainly.com/question/2961505
#SPJ11
in agile projects, teams adjust their thinking so they test as early as practical anything that will ultimately need to be tested in order to reduce risk, improve quality, and improve the accuracy of estimates. this practice is referred to as:
In agile projects, teams adjust their thinking so they test as early as practical anything that will ultimately need to be tested in order to reduce risk, improve quality, and improve the accuracy of estimates. this practice is referred to as Test-Driven Development (TDD).
TDD is a software development practice in agile projects where tests are written before any code is written. These tests are used to define the desired behavior of the system and serve as a guideline for writing the code. The developer writes only enough code to pass the test and then refactors the code to improve its design and eliminate duplication. The process is then repeated with the next test.
TDD is often used in agile projects because it reduces the risk of defects, improves the quality of the code, and provides more accurate estimates. By testing early and often, the team can catch defects early, which reduces the cost of fixing them later in the development cycle. It also improves the quality of the code because the tests serve as a safety net, ensuring that the code works as expected. Finally, because the tests are written before the code, they provide a more accurate estimate of the time required to complete the feature.
Learn more about Test-Driven Development at:
brainly.com/question/13156414
#SPJ4
Accenture is involved in the transformation of an organization into a data driven and intelligent enterprice. which ability does accenture need to ensure the organization has to become a successful business
To ensure that an organization transforms into a data-driven and intelligent enterprise, Accenture has to follow Data Management, Analytics and Insights, Artificial Intelligence (AI) and Machine Learning, Data Security and Privacy, Change Management.
Accenture needs to focus on the following abilities:
1. Data Management: Accenture must ensure the organization has a robust data management strategy, including data collection, storage, and analysis processes that allow the organization to utilize data efficiently and effectively.
2. Analytics and Insights: Accenture should help the organization develop advanced analytical capabilities that enable data-driven decision-making and provide valuable insights into business performance, customer behaviors, and market trends.
3. Artificial Intelligence (AI) and Machine Learning: Accenture must facilitate the integration of AI and machine learning technologies to automate tasks, improve efficiency, and generate predictive insights that drive business growth.
4. Data Security and Privacy: Accenture needs to ensure that the organization has strong data security measures in place to protect sensitive information and maintain regulatory compliance.
5. Change Management: Accenture should assist the organization in implementing change management strategies that support a data-driven culture, including employee training, communication, and performance measurement.
By focusing on these abilities, Accenture can successfully help an organization transform into a data-driven and intelligent enterprise.
To know more about data driven , refer here :
https://brainly.com/question/10238072#
#SPJ11
You want to be able to withdraw $25,000 from your account each year for 20 years after you retire. you expect to retire in 15 years. if your account earns 5% interest, how much will you need to deposit each year until retirement to achieve your retirement goals
The deposit of approximately $12,330.67 each year will be needed to achieve your retirement goals.
To achieve your retirement goal of withdrawing $25,000 each year for 20 years after retirement, while earning a 5% interest, you need to calculate how much you need to deposit each year until retirement.
First, we need to find the present value of the withdrawals during retirement. This can be done using the present value of annuity formula:
PV = PMT * [(1 - (1 + r)^(-n)) / r]
Where PV is the present value, PMT is the annual withdrawal amount, r is the annual interest rate, and n is the number of years.
PV = $25,000 * [(1 - (1 + 0.05)^(-20)) / 0.05]
PV ≈ $301,920.84
Now, we need to find out how much to deposit each year for the next 15 years to reach the present value of $301,920.84. We'll use the future value of annuity formula:
FV = PMT * [((1 + r)^n - 1) / r]
Where FV is the future value, PMT is the annual deposit amount, r is the annual interest rate, and n is the number of years.
$301,920.84 = PMT * [((1 + 0.05)^15 - 1) / 0.05]
Now, we need to solve for PMT:
PMT = $301,920.84 / [((1 + 0.05)^15 - 1) / 0.05]
PMT ≈ $12,330.67
So, you will need to deposit approximately $12,330.67 each year until retirement to achieve your retirement goals of withdrawing $25,000 per year for 20 years after retirement, assuming a 5% interest rate.
Learn more about annual withdrawal here: https://brainly.com/question/31888345
#SPJ11
Geisel, Incorporated reported net sales revenue of $511,000 in 2021 and $618,000 in 2022. The company’s ending net receivables were $121,000 at December 31, 2020 and $120,000 at December 31, 2021. At December 31, 2022, the company had Accounts Receivable of $148,000 and an unadjusted debit balance in its Allowance for Doubtful Accounts account of $1,400. The company reported Bad Debt Expense of $7,240 during 2022. Required: Determine the net receivables at December 31, 2022. Calculate the receivables turnover ratio for 2021 and 2022. Calculate the days to collect for 2021 and 2022
The days to collect is calculated by dividing the average accounts receivable balance by the daily credit sales: 62.7 days.
To adjust the allowance, we need to estimate the amount of uncollectible receivables based on a percentage of the ending accounts receivable balance. Let's assume that Geisel, Incorporated estimates that 2% of its ending accounts receivable balance will be uncollectible.
The adjustment to the allowance for doubtful accounts will be:
Ending Accounts Receivable Balance as of 12/31/2022: $148,000
Estimated Bad Debt Expense: $148,000 x 2% = $2,960
Adjustment to Allowance for Doubtful Accounts: $2,960 - $1,400 (unadjusted balance) = $1,560 (credit)
Therefore, the adjusted balance in the Allowance for Doubtful Accounts account at December 31, 2022 is a credit balance of $1,560.
Net receivables at December 31, 2022, we need to subtract the allowance for doubtful accounts from the accounts receivable balance:
Net Receivables as of 12/31/2022: $148,000 - $1,560 = $146,440
The receivables turnover ratio is calculated by dividing net sales revenue by the average accounts receivable balance:
Receivables Turnover Ratio for 2021: $511,000 ÷ [(($121,000 + $120,000) ÷ 2)] = 4.24 times
Receivables Turnover Ratio for 2022: $618,000 ÷ [(($120,000 + $148,000) ÷ 2)] = 4.00 times
The days to collect is calculated by dividing the average accounts receivable balance by the daily credit sales:
Days to Collect for 2021: [(($121,000 + $120,000) ÷ 2) ÷ ($511,000 ÷ 365)] = 67.6 days
Days to Collect for 2022: [(($120,000 + $148,000) ÷ 2) ÷ ($618,000 ÷ 365)] = 62.7 days
Learn more about balance Visit: brainly.com/question/24914390
#SPJ4
Assume that at the end of 2020, Clampett, Incorporated (an S corporation) distributes property (fair market value of $44,500, basis of $6,500) to each of its four equal shareholders (aggregate distribution of $178,000). At the time of the distribution, Clampett, Incorporated, has no corporate earnings and profits and J. D. Has a basis of $50,600 in his Clampett, Incorporated, stock. How much total income does J. D. Recognize as a result of the distribution
In this scenario, since Clampett, Incorporated is an S corporation, the income, deductions, and credits of the corporation flow through to the shareholders, and are reported on their individual tax returns.
When an S corporation distributes property to its shareholders, the distribution is generally tax-free to the extent of the shareholder's basis in their stock. Any amount in excess of the shareholder's basis is treated as a capital gain.
In this case, J.D.'s basis in his Clampett, Incorporated stock is $50,600. Since the fair market value of the property he received in the distribution is $44,500 and his basis is greater than that amount, the distribution is tax-free to him. J.D. does not recognize any income as a result of the distribution.
However, it's worth noting that if J.D.'s basis had been less than $44,500, he would have recognized capital gain income equal to the excess of the distribution over his basis. But since his basis is greater than the fair market value of the distributed property, he doesn't have to recognize any income.
learn more about Shareholders here:
https://brainly.com/question/28170754
#SPJ11
When preparing a flexible budget, the level of activity ______.
When preparing a flexible budget, the level of activity is a key factor that is taken into account. A flexible budget is a budget that adjusts according to the actual level of activity achieved in a given period.
The level of activity is generally measured in terms of the volume of sales, production or other relevant activities.The flexible budget is prepared by analyzing the expected changes in revenues, costs, and expenses based on the actual level of activity achieved. As the level of activity changes, the costs and expenses also vary. By preparing a flexible budget, a company can determine the expected revenues and costs at different levels of activity, enabling it to make better decisions about resource allocation, production levels, pricing, and other business decisions.
In summary, the level of activity is a critical factor in the preparation of a flexible budget, as it enables a company to anticipate changes in costs and expenses as activity levels change, allowing it to make informed decisions about its operations.
To know more about flexible budget click here
brainly.com/question/16017304
#SPJ11
Pell company acquires 80% of demers company for $500,000 on january 1, 2014. demers reported common stock of $300,000 and retained earnings of $210,000 on that date. equipment was undervalued by $30,000 and buildings were undervalued by $40,000, each having a 10-year remaining life. any excess consideration transferred over fair value was attributed to goodwill with an indefinite life. based on an annual review, goodwill has not been impaired. demers earns income and pays dividends as follows:
2014 2015 2016
net income $100,000 $120,000 $130,000
dividends 40,000 50,000 60,000
assume the initial value is applied. compute pell's investment in demers at december 31, 2016.
a. $592,400.
b. $500,000.
c. $625,000.
d. $676,000.
e. $620,000.
By equity method Pell's investment in Demers at December 31, 2016, is = $560,000
To compute Pell's investment in Demers at December 31, 2016, we need to first calculate the goodwill and then apply the equity method to account for the investment.
1. Calculate the goodwill:
Consideration transferred = $500,000
Fair value of net assets acquired = $300,000 + $210,000 + $30,000 + $40,000 = $580,000
Excess consideration transferred over fair value = $500,000 - $580,000 = ($80,000) - this amount represents negative goodwill, which is attributed to the fair value adjustment of assets and liabilities. Since the goodwill has not been impaired, we can assume that the negative goodwill has been fully amortized over the years.
2. Apply the equity method to account for the investment:
- Initial investment: $500,000 x 80% = $400,000
- Share of Demers' net income:
- 2014: $100,000 x 80% = $80,000
- 2015: $120,000 x 80% = $96,000
- 2016: $130,000 x 80% = $104,000
- Share of Demers' dividends:
- 2014: $40,000 x 80% = $32,000
- 2015: $50,000 x 80% = $40,000
- 2016: $60,000 x 80% = $48,000
Pell's investment in Demers at December 31, 2016 is the sum of the initial investment, share of net income, and adjustment for dividends:
= $400,000 + $80,000 + $96,000 + $104,000 - $32,000 - $40,000 - $48,000
= $560,000
Therefore, the answer is not listed among the options provided, and we can conclude that the correct answer is none of the above and Pell's investment in Demers at December 31, 2016, is $560,000 .
To know more about equity method , refer here :
https://brainly.com/question/30500983#
#SPJ11
if a retailer is weighing the cost of carrying additional inventory (greater than the usual amount) against the benefit of a reduced wholesale price, they are probably considering whether to take advantage of a(n) blank offered by a manufacturer. multiple choice question. premium rebate allowance placement
They are possibly debating whether to benefit from a manufacturer's "rebate" that is being given.
What benefits do rebates offer?Discounts (and often even quick refunds) take money off the list price, bringing it down. Customers' perceptions of market value may change as a result of list price reductions, which may affect their willingness to pay the full amount.
What is the name of the technique used to entice consumers with rebates on significant purchases?Sales promotion is crucial for keeping current customers, attracting new ones, thwarting competition, and exploiting opportunities revealed by market research. A few of the strategies used in sales promotion include coupons, samples, premiums, point-of-purchase (POP) displays, competitions, rebates, and sweepstakes.
To know more about manufacturer visit:-
https://brainly.com/question/13740503
#SPJ1
On december 31, 2018, wasley corporation borrowed $500,000 on a 10%, 10-year mortgage note payable. the note is to be repaid with equal semiannual installments, beginning june 30, 2019.
required:
a. compute the amount of the semiannual installment payment using a financial calculator or excel, and round amount to the nearest dollar.
b. prepare the journal entry (1) to record wasley's borrowing of funds on december 31, 2018, (2) to record wasley's installment payment on june 30, 2019, and (3) to record wasley's installment payment on december 31, 2019.
(A)Rounding to the nearest dollar, the semiannual installment payment is $33,449. To record the second semiannual installment payment $9,284 principal repayment.
(a). To calculate the amount of the semiannual installment payment, we can use the following formula:
PMT = (PV × i) / (1 - (1 + i)⁻ⁿ)
Where:
PV = present value of the loan = $500,000
i = semiannual interest rate = 10% / 2 = 5%
n = total number of payments = 10 years × 2 = 20 semiannual periods
Plugging in these values, we get:
PMT = ($500,000 × 0.05) / (1 - (1 + 0.05)⁻²⁰)
= $33,448.55
Rounding to the nearest dollar, the semiannual installment payment is $33,449.
(b). The journal entries to record Wesley Corporation's borrowing and installment payments would be as follows:
December 31, 2018
Cash $500,000
Mortgage Note Payable $500,000
(To record the borrowing of funds on a 10%, 10-year mortgage note payable)
June 30, 2019
Mortgage Note Payable $16,724
Interest Expense $25,776
Cash $33,500
(To record the first semiannual installment payment:
$500,000 / 20 = $25,000 interest for the period,
$33,449 - $25,000 = $8,449 principal repayment)
December 31, 2019
Mortgage Note Payable $17,335
Interest Expense $24,165
Cash $33,500
(To record the second semiannual installment payment:
$492,551 / 19 = $24,165 interest for the period,
$33,449 - $24,165 = $9,284 principal repayment)
To know more about semiannual
https://brainly.com/question/23321373
#SPJ4
if a purely competitive firm is currently facing a situation where the price of its product is lower than the average variable cost, but it believes that the market demand for its product will increase soon, then:
If a purely competitive firm is currently facing a situation where the price of its product is lower than the average variable cost, but it believes that the market demand for its product will increase soon, then the firm should continue to produce and sell its product, even though the current price is lower than the average variable cost.
The firm should continue to produce and sell its product because it believes that the market demand for its product will increase soon. By continuing to produce and sell its product, the firm can benefit from increased demand in the future.
Additionally, the firm can make up for the current losses caused by selling its product at a lower price than the average variable cost by increasing its production and selling more of its product when the demand increases.
This will result in an increase in the firm's revenues and profits, which will more than make up for the current losses. Furthermore, if the firm stops producing and selling its product, it will lose out on any potential profits that could be made when the demand increases.
Therefore, it is in the firm's best interest to continue producing and selling its product, even though the current price is lower than the average variable cost.
To learn more about average variable cost link is here
brainly.com/question/29306232
#SPJ4
I need help figuring out the double decking-balance method the last I got 77,737 and 25910 and 6353 it says it’s wrong?
The double-declining balance method is a way to calculate the depreciation of an asset over its useful life. Here are the steps to find the correct values:
1. Determine the asset's initial cost, its salvage value, and its useful life in years.
2. Calculate the straight-line depreciation rate: Divide 1 by the useful life in years.
3. Double the straight-line depreciation rate: Multiply the straight-line depreciation rate by 2.
4. Calculate the depreciation expense for each year: Multiply the current book value of the asset (initial cost minus accumulated depreciation) by the double-declining balance rate.
5. Subtract the depreciation expense from the current book value to get the new book value for each year.
6. Repeat steps 4 and 5 for each year of the asset's useful life, stopping when the book value reaches the salvage value.
It's essential to have the correct initial cost, salvage value, and useful life in years for the asset to calculate the depreciation correctly. Please recheck these values and use the steps above to find the correct double-declining balance depreciation amounts.
Keep in mind that the double-declining balance method results in higher depreciation amounts in the early years of an asset's life and lower amounts in the later years. If your calculated values are still incorrect, ensure you are using the right method and double-check your calculations.
To know more about the double-declining balance method refer here:
https://brainly.com/question/30403633#
#SPJ11
the owner of the dex's restaurant is renegotiating the operation's lease and has the option of either an annual fixed lease of $200,000 or a variable lease set at 6.0% of annual revenue. which option costs less if annual revenue is expected to be $3,000,000?
The fixed lease of $200,000 costs less if annual revenue is expected to be $3,000,000. The variable lease set at 6.0% of annual revenue would cost $180,000. So the option B is correct.
Annual revenue can be found by either reviewing financial statements, such as an income statement, or by calculating total sales made over the course of a year. Additionally, companies may provide annual revenue information in the form of press releases or investor presentations.
The fixed lease of $200,000 would cost less than the variable lease set at 6.0% of annual revenue.
It can be expressed as
$200,000 < 6.0% × $3,000,000
$200,000 < 6/100 × $3,000,000
$200,000 < 0.06 × $3,000,000
$200,000 < $180,000
So the option B is correct.
To learn more about fixed and variable lease link is here
brainly.com/question/30045135
#SPJ4
The complete question is:
The owner of the dex's restaurant is renegotiating the operation's lease and has the option of either an annual fixed lease of $200,000 or a variable lease set at 6.0% of annual revenue. Which option costs less if annual revenue is expected to be $3,000,000?
A. $400,000
B. $200,000
C. $100,000
D. $500,000
Jack owns Tasty Ice Creams Ltd (TICL). The business makes ice cream and sells it through its fleet of ice-cream vans. Two years ago, Eddie started driving one of the ice-cream vans owned by TICL. Eddie increases his personal earnings by selling his own brand of ice bars (冰棒) at the same time as the TICL’s ice creams, something which Jack is unaware of. Eddie kept all sale money of ice lollies personally without informing Jack. Jack has found out that Eddie has posted to his social media account an defamatory article about the increase of listeria bacteria in ice cream. Listeria bacteria can cause serious illness. The article recommends that the public switch to eating ice lollies, to avoid the chance of becoming ill. The content of the article is not proved medically. Upon discovering Eddie’s past acts yesterday, Jack is extremely angry that he emailed Eddie, informing him that he is dismissed at once without any notice of employment termination and compensation.
Explain whether Jack can dismiss Eddie through the summary dismissal mode under the employment law.
Based on the given scenario, it appears that Jack may be able to dismiss Eddie through the summary dismissal mode under employment law.
Summary dismissal is when an employee is dismissed without notice or compensation due to serious misconduct or breach of contract. In this case, Eddie engaged in the following actions that could constitute grounds for summary dismissal:
1. Selling his own brand of ice bars without informing Jack or sharing the profits, which may be a breach of his employment contract or a violation of company policy.
2. Posting a defamatory article on his social media account about the increase of listeria bacteria in ice cream, which could damage TICL's reputation and business.
Before proceeding with summary dismissal, Jack should ensure he follows any required procedures outlined in Eddie's employment contract and consult legal advice to ensure compliance with local employment law.
Learn more about Employment law:
https://brainly.com/question/26463698
#SPJ11
Can someone help me with this question please
How does you credit rating affect your credit score?
Answer:
Your credit rating decreases each time you are missing a payment or late on a payment which affects your credit score. With your credit score lowering each time, it will affect you from many opportunities like getting a loan for a lower interests rate and it will affect on whatever major purchase you make and you want to borrow money since the lender will not think you are a reliable person that will pay on time.
Explanation:
Hope that helps
Green co. has two long-term construction contracts. one contract, with blue co., qualifies for revenue recognition while the performance obligation is being satisfied. the other contract, with red co., does not qualify for revenue recognition until the performance obligation is fully satisfied. for either of these two contracts, what account would be debited when preparing the journal entry to record billings
When preparing the journal entry to record billings for either of the two long-term construction contracts of Green Co., the account that would be debited is "Accounts Receivable" or "Contract Receivable" depending on the type of contract. This is because billings represent amounts that are owed by the customer and are recorded as a receivable until they are collected.
It can be explained as follows:
1. Identify the contracts: Blue Co. (revenue recognized over time) and Red Co. (revenue recognized at completion).
2. Determine the account to be debited: In both cases, Green Co. is billing the customers, so the company is expecting to receive payment in the future.
3. Debit the Accounts Receivable account: As Green Co. bills its customers, it records the amount it expects to receive as an increase in its Accounts Receivable account by debiting it.
Please note that the revenue recognition method for each contract will impact the credit side of the journal entry, but the debit side remains the same (Accounts Receivable) for both contracts.
Learn more about accounts receivable here: https://brainly.com/question/30605316
#SPJ11
Suppose that the reserve requirement in an economy is 0. 35 and the Federal Reserve deposits $550 into commercial banks. What is the maximum possible change in the money supply? (Treat the entire amount of the deposit as the initial excess reserves. ) Round your answer to two decimal places
The maximum possible change in the money supply can be calculated using the money multiplier formula. The money multiplier is the inverse of the reserve requirement, which in this case is 1/0.35 or approximately 2.86. This means that for every $1 of excess reserves, the money supply can increase by $2.86
Since the Federal Reserve deposits $550 into commercial banks, this entire amount is treated as initial excess reserves. Therefore, the maximum possible change in the money supply is calculated by multiplying $550 by the money multiplier of 2.86, which gives us $1,573.
So, the maximum possible change in the money supply is $1,573. This means that the economy can potentially have an additional $1,573 of money circulating in it as a result of the Federal Reserve's deposit.
To know more about money supply, refer to the link:
https://brainly.com/question/1099440#
#SPJ11
Discuss the functions and the differences of the House of Commons, the Cabinet, and the Office of the Prime Minister
The House of Commons is responsible for making laws, representing the interests of the people, and holding the government accountable. The Cabinet's main functions are to discuss and decide on key policy issues, coordinate the actions of different departments, and support the Prime Minister in governing the country. The Office of the Prime Minister supports the Prime Minister in carrying out their duties and responsibilities as the head of the government.
1. House of Commons: The House of Commons is the lower chamber of the UK Parliament and is responsible for making laws, representing the interests of the people, and holding the government accountable. Its primary functions include debating and passing legislation, scrutinizing government policies, and providing a platform for members of parliament (MPs) to voice their constituents' concerns.
2. Cabinet: The Cabinet is a group of senior government ministers chosen by the Prime Minister to head various departments and make important decisions related to government policy. Its main functions are to discuss and decide on key policy issues, coordinate the actions of different departments, and support the Prime Minister in governing the country. Members of the Cabinet are collectively responsible for the government's actions, and they must publicly support the decisions made by the Cabinet.
3. Office of the Prime Minister: The Office of the Prime Minister supports the Prime Minister in carrying out their duties and responsibilities as the head of the government. Its main functions include providing advice to the Prime Minister, coordinating the work of other government departments, and managing communication between the Prime Minister and other government officials, MPs, and the public.
In summary, the House of Commons is responsible for making laws and holding the government accountable, the Cabinet makes decisions on government policy, and the Office of the Prime Minister supports the Prime Minister in their role as the head of government.
To learn more about the House of Commons, visit: https://brainly.com/question/13618630
#SPJ11
Bonnie purchased a 10-year bond on 1/1/2000, after the coupon was paid on that date. the bond was purchased to yield 4% per year convertible quarterly. the coupons are paid at 5% convertible quarterly. the bond is redeemable at par at the amount of 10,000. bonnie received a coupon on 7/1/2005. what is the amortization of premium of the coupon she just received
The amortization of the premium for the coupon Bonnie received on 7/1/2005 can be calculated by finding the difference between the coupon payment and the interest income generated by the bond at the prevailing yield.
Given the 10-year bond's face value of $10,000 and a 4% yield convertible quarterly, the quarterly interest rate is 1% (4% divided by 4). The coupon payment is 5% of the face value, or $500. At the 1% quarterly yield, the interest income would be $100 (1% of $10,000).
Therefore, the amortization of premium is $500 - $100 = $400. This represents the portion of the coupon payment exceeding the interest income and contributes to reducing the premium over time.
Learn more about interest income, from:
brainly.com/question/17199831
#SPJ12
On december 1, 2017, cone company issued its 10%, $2 million face value bonds for $2.3 million, plus accrued interest. interest is payable on november 1 and may 1. on december 31, 2019, the book value of the bonds, inclusive of the unamortized premium, was $2.1 million. on july 1, 2020, cone reacquired the bonds at 98 plus accrued interest. cone appropriately uses the straight-line method for the amortization because the results do not materially differ from those of the effective interest method.
required:
prepare a schedule to compute the gain or loss on this redemption of debt.
Cone Company redeemed its bonds on July 1, 2020, at 98 plus accrued interest. The schedule shows that the carrying value of the bonds at the time of redemption was $2.135 million, resulting in a gain of $15,000 for Cone Company.
The bond issue price was $2.3 million, which is $300,000 over the face value of $2 million. The premium of $300,000 was amortized over the life of the bonds.
From December 1, 2017, to June 30, 2020, the bonds were outstanding for 31 months, or 2.58 years.
The annual amortization of the premium is
$300,000 / 20 = $15,000.
The unamortized premium at the redemption date was
$15,000 x 2.5 years = $37,500.
The accrued interest on the bonds was
$50,000 ($2 million x 0.10 x 6/12).
Therefore, the total cost of the redemption was
$2.135 million ($2.1 million + $37,500 + $50,000).
The gain on redemption is
$15,000 ($2.135 million - $2.1 million).
To know more about interest:
https://brainly.com/question/30955042
#SPJ4
Apply principles for the success of the trainingExplain in details
There should be a well-thought-out plan before the training, including objectives, methods, content, trainers, and logistics, among other things.
How to ensure the success of a training programTo ensure the success of a training program, apply the following principles:
1. Set clear objectives: Define the specific goals and outcomes you want the participants to achieve by the end of the training.
2. Engage learners: Make the training interactive and relevant to the participants, using real-life examples and practical exercises to maintain interest and facilitate understanding.
3. Use varied teaching methods: Combine different instructional techniques, such as lectures, discussions, case studies, and hands-on activities, to cater to different learning styles.
4. Provide timely feedback: Offer constructive feedback throughout the training to help participants understand their progress and areas for improvement.
5. Assess learning: Regularly evaluate participants' understanding of the material through quizzes, tests, or practical exercises to ensure they are retaining the information.
6. Encourage self-directed learning: Empower participants to take charge of their learning by providing resources and opportunities for them to explore topics on their own.
7. Adapt to the learners' needs: Be flexible and adjust the training content and delivery to meet the unique needs of the participants.
8. Foster a positive learning environment: Create an atmosphere of trust and support where participants feel comfortable asking questions and sharing their experiences.
9. Reinforce learning: Provide opportunities for participants to practice and apply their new skills and knowledge, both during and after the training.
10. Evaluate the training's effectiveness: Gather feedback from participants and analyze the results to measure the success of the training and identify areas for improvement.
Learn more about training program at
https://brainly.com/question/28264443
#SPJ11
On may 1, 2020, mosby company received an order to sell a machine to a customer in mexico at a price of 2,000,000 mexican pesos. the machine was shipped, and payment was received on march 1, 2021. on may 1, 2020, mosby purchased a put option giving it the right to sell 2,000,000 mexican pesos on march 1, 2021 for $190,000 (strike price of $0.095 per pesos). mosby company properly designates the option as a fair value hedge of the mexican pesoâs firm commitment. the option cost $3,000 and had a fair value of $3,200 on december 31, 2020. since the hedge instrument being used is a put option, keefer has chosen to measure the change in the fair value of the commitment through reference to changes in the spot rate. mosby's incremental borrowing rate is 12 percent, and the present value factor for two months at a 12 percent annual rate is 0.9803.
required:
what was the impact on mosby's 2013 net income as a result of this fair value hedge of a firm commitment?
On May 1, 2020, Mosby Company received an order to sell a machine for 2,000,000 Mexican pesos, with payment received on March 1, 2021.
To hedge the currency risk, Mosby purchased a put option for $3,000, allowing them to sell 2,000,000 pesos at a strike price of $0.095 per peso on March 1, 2021. The option was designated as a fair value hedge.
By December 31, 2020, the option's fair value increased to $3,200. As a result, Mosby would recognize a gain of $200 ($3,200 - $3,000) on their income statement for 2020. Since the hedge was designated as a fair value hedge, any changes in the fair value of the firm commitment due to changes in the spot rate would offset the gain or loss from the put option, leading to no net impact on Mosby's 2020 net income
For more about payment received:
https://brainly.com/question/18849360
#SPJ4
rue or false: an estimated overall loss on a long-term contract is fully recognized in the first period the loss becomes evident, regardless of the revenue recognition method used. true false question. true
The given statement "an estimated overall loss on a long-term contract is fully recognized in the first period the loss becomes evident, regardless of the revenue recognition method used" False.
An estimated overall loss on a long-term contract is not fully recognized in the first period the loss becomes evident, regardless of the revenue recognition method used. The recognition of the loss depends on the revenue recognition method used by the company.
Under the completed contract method, the revenue and expenses are recognized when the contract is completed. Therefore, the loss on the contract will only be recognized when the contract is completed. On the other hand, under the percentage of completion method, revenue and expenses are recognized as the work progresses. Therefore, the loss on the contract will be recognized over the duration of the contract, based on the percentage of completion of the project.
Overall, the recognition of the loss on a long-term contract depends on the revenue recognition method used by the company. It is not fully recognized in the first period the loss becomes evident.
For more such questions on loss
https://brainly.com/question/29355721
#SPJ11
Sandra Waterman purchased a 52-week, $2,800 T-bill issued by the U.S. Treasury. The purchase price was $2,791.
a. What is the amount of the discount?
b. What is the amount Ms. Waterman will receive when the T-bill matures?
c. What is the current yield for the 52-week T-bill at the time of purchase?
Note: Enter your answer as a percent rounded to 2 decimal places.
Based on the given information,
(a) Discount amount is $9.
(b) Maturity value is $2,800.
(c) Current yield is 0.32
A discount is a decrease in a product's or service's regular selling price, expressed either in dollar amounts or as a percentage. The calculation for the given terms are as follows
(a) Discount amount
= Maturity (face) value - Purchase price
=$2,800 - $2,791
=$9
(b) Maturity value
=Face value
=$2,800
(c) Current yield
=Discount amount / Purchase price
=$9 / $2,791
=0.00322 or 0.32
Learn more about the Discount amount, here
brainly.com/question/20129073
#SPJ1
Beginning inventory, purchases, and sales data for portable dvd players are as follows:
june 1 inventory 240 units at $78
10 sale 180 units
15 purchase 280 units at $80
20 sale 220 units
24 sale 90 units
30 purchase 320 units at $86
the business maintains a perpetual inventory system, costing by the last-in, first-out method. determine the cost of merchandise sold for each sale and the inventory balance after each sale.
Using the Last-In, First-Out (LIFO) inventory costing method, the cost of merchandise sold and inventory balance
Inventory balance after each sale can be calculated as follows:
June 1 inventory: 240 units at $78 = $18,720
June 10 sale: 180 units at $80 (last purchase cost) = $14,400
Inventory balance: 60 units at $78 (beginning inventory cost) = $4,680
June 15 purchase: 280 units at $80 = $22,400
Inventory balance: 340 units at $80 = $27,120
June 20 sale: 220 units at $80 (last purchase cost) = $17,600
Inventory balance: 120 units at $80 = $9,600
June 24 sale: 90 units at $80 (last purchase cost) = $7,200
Inventory balance: 30 units at $80 = $2,400
June 30 purchase: 320 units at $86 = $27,520
Inventory balance: 350 units at $80 (LIFO cost for remaining units) = $28,000
To determine the cost of merchandise sold, we use the LIFO method to assign the cost of the most recent purchases to the units sold first. The inventory balance is the cost assigned to the remaining units still in stock. By the end of June, the cost of merchandise sold is $39,200, and the inventory balance is $28,000.
It's important to note that the LIFO method assumes that the most recent costs are the first to be sold, and this can lead to fluctuations in the cost of goods sold and inventory balance depending on the cost of recent purchases.
To learn more about inventory balance here:
https://brainly.com/question/13741571
#SPJ11
on january 1, 20x2, abc company acquired a 90 percent ownership of xyz company, at underlying book value. the fair value of the noncontrolling interest at the date of acquisition was equal to 10 percent of the book value of xyz company. on may 15, 20x2, xyz company purchased inventory from abc company for $90,000. xyz company subsequently sold the entire inventory to an unaffiliated company for $120,000 on december 21, 20x2. abc company had produced the inventory sold to xyz company for $62,000. the companies had no other transactions during 20x2. based on the information given above, what amount of sales will be reported in the 20x2 consolidated income statement? group of answer choices $62,000 $120,000 $90,000 $58,000
The consolidated income statement for 20x2 will report sales of $120,000. This is because the inventory purchased by XYZ Company from ABC Company for $90,000 was subsequently sold to an unaffiliated company for $120,000, resulting in a gain of $30,000.
Since ABC Company owns 90% of XYZ Company, it would be consolidated with XYZ Company for financial reporting purposes, and the gain of $30,000 on the sale of inventory would be included in the consolidated income statement. The cost of producing the inventory sold to XYZ Company by ABC Company for $62,000 is not relevant to the calculation of consolidated sales, as it is a separate transaction between the two companies.
Therefore, the correct answer is $120,000.
For more such questions on inventory
https://brainly.com/question/25947903
#SPJ11
Bond Prices [ LO2] Westco Co. Issued 15-year bonds a year ago at a coupon rate of 5. 4 percent. The bonds make semiannual payments and have a par value of $1,000. If the YTM on these bonds is 4. 5 percent, what is the current price of the bond in dollars
The current price of the bond in dollars of Westco Co. as per the information provided is = $1097.40
The par value, YTM, and coupon payments together determine the current price.
Coupon payment: ($27) x ($5.4/2) x ($1,000)
Par value equals $1000
YTM = 4.5% / 2 = 2,25%
Current price = (27 / 1.0225) + (27 / 1.0225^2) + (27 / 1.0225^3) + (27 / 1.0225^4) + (27 / 1.0225^5) + (27 / 1.0225^6) + (27 / 1.0225^8) + (27 / 1.0225^9) + (27 / 1.0225^10) + (27 / 1.0225^11) + (27 / 1.0225^12) + (27 / 1.0225^13) + (27 / 1.0225^14) + (27 / 1.0225^15) + (27 / 1.0225^16) + (27 / 1.0225^17) + (27 / 1.0225^18) + (27 / 1.0225^19) + (27 / 1.0225^20) + (27 / 1.0225^21) + (27 / 1.0225^22) + (27 / 1.0225^23) + (27 / 1.022524) + (27 / 1.0225^25) + (27 / 1.0225^27) + (27 / 1.0225^28) + (27 / 1.0225^29) + (27 / 1.0225^30) + (1000 / 1.0225) = $1097.40
Daily monitoring of bond prices is valuable in determining the direction of interest rates and, more broadly, the future of the economy. Not surprisingly, they play an important role in a well-managed and diversified investment portfolio.
To learn more about bond price, here:
https://brainly.com/question/13065331
#SPJ4
using fiscal policy, including automatic stabilizers, to stabilize output over a business cycle is not consistent with:
Using fiscal policy, will be including automatic stabilizers, to stabilize the output over a business cycle is not consistent with the classical economic theory.
Classical economists believe that the economy is self-correcting and will naturally return to full employment in the long run. According to this theory, any intervention in the form of fiscal or monetary policy to stabilize output in the short run can only create temporary effects and may cause long-term harm.
In contrast, Keynesian economics, which developed in response to the Great Depression of the 1930s, advocates for the use of fiscal policy to stabilize output over the business cycle. Keynesian economists argue that government intervention can help to smooth out fluctuations in output and employment by increasing government spending during recessions and reducing it during expansions.
Therefore, using fiscal policy, including automatic stabilizers, to stabilize output over a business cycle is not consistent with classical economic theory, but it is consistent with Keynesian economic theory.
To know more about fiscal policy here
https://brainly.com/question/27250647
#SPJ4
Leaders have the ability to analyze complex data and identify O Finances O Conflict operations patterns Select the best response to the following questions. A company that is concerned with operational efficiency practices which management style? O Team O Impoverished O Authority-compliance Country club
A company that is concerned with operational efficiency practices and Authority-compliance management style.
Operational efficiency is the ratio of the productivity of an organization's inputs to its outputs. Companies that are operationally effective produce high-quality goods and services at a lower cost than their rivals, resulting in greater profitability. Here, we will look at the management style that a company would use if it prioritized operational efficiency.
The authority-compliance management style, often known as autocratic leadership, is characterized by a top-down hierarchical structure with one individual making decisions for the whole organization. The leader has complete authority and control over the team's activities, and the subordinates are expected to follow his or her directives unquestioningly. This management style is often used in organizations that prioritize operational efficiency over employee participation. Authority-compliance management style makes it simple for decisions to be made and instructions to be followed quickly and efficiently without significant debate, leading to high levels of productivity.
Learn more about Management style: https://brainly.com/question/26145988
#SPJ11