Since Taryn is a minor does have special contractual rights when he purchases necessaries. In this case Taryn does not really need the car since his parents have offered the use of car.
The car dealer could not legally refuse to take the car back and must return Taryn's money.
Fair market value:The fair market value of a piece of property is the price at which it would change hands between a willing and informed buyer and seller. The term can be found throughout the Internal Revenue Code, as well as in numerous state laws, bankruptcy laws, and regulatory bodies. In real estate, a property's determined fair market value (FMV) is the price it will sell for on the open market. A willing buyer and seller who are both reasonably knowledgeable about the property in question agree on the FMV.
How significant is fair market value?Parties can agree on a fair market value provided certain conditions are met. It usually takes place in legal settings and implies free and open market activity. Insurance companies and tax authorities use it extensively.
Question is incomplete . Missing part is:
Taryn is 16 years old in a state where the age of majority is 19. Taryn plans to begin working at a restaurant next week. Her parents are willing to let her use one of their cars, but she wants her own car. If Taryn buys a car for fair market value, would she be able to return the car and get a full refund. Explain the answer.
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A restaurant increases the number of servers it has per shift. Which goal is most likely responsible for this change
A restaurant increases the number of servers it has per shift. Efficiency is most likely responsible for this change. Hence, the correct answer is efficiency.
What exactly is economic efficiency?Depending on the context, economic efficiency is generally one of two related concepts:
Any modifications made to help one person would injure another. This is known as allocating or Pareto efficiency.
Productive efficiency means that no more output of one thing can be acquired without reducing the output of another, and production progresses at the lowest feasible average total cost.
These notions are not synonymous: a market or other economic system might be allocatively efficient but not productively efficient, or productively efficient but not allocatively efficient. Other definitions and metrics exist as well. All economic efficiency characterizations are contained within the broader engineering idea that a system is efficient or optimum when it optimizes desired outputs given available inputs.
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You have been asked by the CEO of Mountaineer Co. To assist in analyzing product costs. This analysis is used in internal decision making and in reporting to investors. The following Tableau Dashboard provides data needed for the analysis. Prepare an income statement for the company. Note: use cost of goods sold calculated in part 1.
Rent Expense Factory 45,000
Repairs Expense Factory 11. 500
Factory Utilities 9,500
Factory supplies used 14,000
Indirect labor 38,000
Raw Materials Beginning: 60,000
Raw Materials purchases: 140,000
Raw Materials Used: solve for this value
Raw materials ending: 64,000
The raw materials used were $76,000. This Cost of goods sold is calculated by subtracting ending raw materials from the beginning balance and adding purchased raw materials.
In this case, beginning raw materials were $60,000, purchased raw materials were $140,000, and ending raw materials were $64,000. So the raw materials used were $76,000 ($60,000 - $64,000 + $140,000). This value was subsequently added to the price of the goods sold. Total costs were then subtracted from net income to determine the company's net income.
Mountaineer Company Income Statement
Gross income: $500,000
Less: Cost of goods sold: $236,000
Net income: $264,000
Factory rental cost: $45,000
Cost of factory repairs: $11,500
Factory Service: $9,500
Factory material used: $14,000
Indirect labor: $38,000
Raw materials used: $76,000
Total cost: $194,000
Net income: $70,000
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On August 5, 2021, Wildhorse Furniture shipped 50 dining sets on consignment to Furniture Outlet, Inc. The cost of each dining set was $440 each. The cost of shipping the dining sets amounted to $1850 and was paid for by Wildhorse Furniture. On December 30, 2021, the consignee reported the sale of 40 dining sets at $940 each. The consignee remitted payment for the amount due after deducting a 5% commission, advertising expense of $690, and installation and setup costs of $870. The total profit on units sold for the consignor is
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What are the trends that affect changes in an organization?
The trends that affect changes in an organization are: Economic Conditions, Technological Advancements, Social and Cultural Changes, Government Regulations, Competitor Activity.
What is organization?
Organizations are groups of people working together to achieve a common purpose. They are typically structured in a hierarchical manner, with each individual or group within the organization having a specific role to play. Organizations can be formal or informal, public or private, profit or nonprofit, and structured in a variety of ways. They can range from small businesses with a single owner, to massive global corporations with thousands of employees. Organizations can also be defined by their mission, goals, values, and culture. Organizations are vital to the functioning of modern society, and they are constantly evolving to meet the changing needs of our world.
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When a seller receives an offer on his or her property, what action would free him or her to consider other offers and also frees the buyer to consider other properties or to make another offer on the same property
The seller can accept the offer, reject the offer, or counter the offer. Accepting the offer means that the seller agrees to all of the terms of the offer and the sale is complete.
Rejecting the offer means that the seller does not agree to the terms of the offer and the sale is terminated. If the seller wishes to negotiate with the buyer, he/she can counter the offer.
A counteroffer modifies some terms of the original offer, such as the purchase price, and allows both the seller and the buyer to further negotiate. This action frees the seller to consider other offers and also frees the buyer to consider other properties or to make another offer on the same property.
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Assume there are external benefits associated with the production of Good X. Without government regulation, the market will: produce too much of Good X. produce too much of Good X. price Good X less than the marginal social cost. price Good X less than the marginal social cost. produce too little of Good X. produce too little of Good X. price Good X greater than the marginal cost. price Good X greater than the marginal cost.
Answer:
produce too little of Good X. produce too little of Good X.
Explanation:
A good has positive externality if the benefits to third parties not involved in production is greater than the cost. an example of an activity that generates positive externality is research and development. Due to the high cost of R & D, they are usually under-produced. Government can encourage the production of activities that generate positive externality by granting subsidies.
A good has negative externality if the costs to third parties not involved in production is greater than the benefits. an example of an activity that generates negative externality is pollution. Pollution can be generated at little or no cost, so they are usually overproduced. Government can discourage the production of activities that generate negative externality by taxation. Taxation increases the cost of production and therefore discourages overproduction. Tax levied on externality is known as Pigouvian tax.
Government can regulate the amount of externality produced by placing an upper limit on the amount of negative externality permissible
Which of the following is a reason why government is a participant in a market-oriented economy?
a. To enforce contracts and protect private property
b. To promote collusion
c. To promote the growth of natural monopolies
d. To provide more inequality in the distribution of income
e. To promote externalities
The government engages in a market-oriented economy to uphold agreements and defend private property.
What do you mean by a market-oriented economy ?
A market-oriented economy is an economic system in which the production, distribution, and pricing of goods and services are determined by the forces of the marketplace. This type of economy is driven by competition, which encourages firms to be innovative and efficient in order to remain competitive and profitable. This type of economy allows individuals to have greater control over their economic decisions as they are able to choose from a variety of goods and services. Furthermore, a market-oriented economy promotes economic growth through competition, leading to increased investment, higher wages, and more jobs.
So, The correct option is a. To enforce contracts and protect private property.
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What are decidable and undecidable problems?
A conundrum of decision If the language L of all instances of yes to P is not decidable, then P is not solvable.
What do you mean by a decidable problem?A conundrum of decision If the language L of all instances of yes to P is not decidable, then P is not solvable. A language that cannot be decided upon may yet be partially decided upon. A Turing machine wouldn't exist for a language if it wasn't even partially decidable, so let's assume that is the case.a judgement issue that can be resolved in a limited number of steps by an algorithm that halts on all inputs. A language that can be decided upon is the one linked with it. Also referred to as an algorithmically solvable issue, recursively solvable problem, and completely decidable problem.To learn more about decidable problem refer to:
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What is a free enterprise economic system?
A free enterprise economic system is an economic system in which businesses and industries are privately owned and operate in a competitive market without government interference.
What are the advantages and disadvantages of a free enterprise economic system? Advantages of a free enterprise economic system include the ability for businesses to operate with minimal government interference, providing more opportunities for entrepreneurs to innovate, compete, and find success. This economic system also allows individuals to pursue their own economic goals, since there is no central plan.The free enterprise system also encourages investment, as businesses can be started with private capital and the profits can be reinvested or used to fund new projects. This encourages a cycle of economic growth and stability.Disadvantages of a free enterprise system include the potential for inequality and monopolies. Without government regulations, businesses may be able to take advantage of consumers or workers, leading to a lack of social justice. Additionally, without government intervention, large companies may be able to dominate the market, resulting in unfair competition and prices. Finally, failure to regulate the economy can lead to increased economic volatility, as there is no central plan to address changing economic conditions.To learn more about economic system refer to:
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eorge and Miguel want to know more about their local and online competitors and about the retail industry. What is the best way for them to find all of this information
The best way for George and Miguel to find all of this information is To identify trade associations, directories of regional and international rivals, and any financial data, search online.
Give a brief account on trade associations.An organisation created and supported by companies that work in a particular industry is known as a trade association, sometimes known as an industry trade group, business association, sector association, or industry body. A trade association for a particular industry engages in public relations operations like advertising, education, publishing, lobbying, and political contributions, but its main objective is to foster cooperation among businesses. Associations may provide other services, such as organising conferences, hosting social gatherings or fundraising activities, or providing classes or educational resources. Numerous associations are non-profit institutions run by officers who are also members, who are bound by their bylaws. Employers' organisations, which also participate in social dialogue, frequently fill the position of trade associations in nations with a social market economy.
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One of the main reasons countries join together in a common market is to allow workers to move freely across
borders
-True
-False
Answer:
Here is the ans.
Explanation:
The statement is true.
When a gap exists between a consumer's actual state and some ideal or desired state, the consumer has a ________
When a gap exists between a consumer's actual state and some ideal or desired state, the consumer has a "need" or "want."
This need or want is called a "motivator" and it drives the consumer to seek out products or services that will help them bridge the gap and achieve their desired state.
This gap can be physical, social, or emotional, such as hunger, loneliness, or the desire for self-expression. To develop products and services that meet these needs and wants and ultimately drive consumer behavior.
Understanding consumer needs and wants is a crucial aspect of marketing and business strategy. A consumer's needs and wants are the driving force behind their purchasing decisions.
A need is a basic requirement that a consumer must have to survive, such as food, clothing, and shelter. These needs are considered to be physiological and must be met for a consumer to be satisfied.
A want, on the other hand, is a desire for something that is not essential for survival. For example, a consumer may want a luxury car or designer clothing.
These wants are considered to be psychological and are influenced by factors such as personal values, beliefs, and experiences.
Additionally, businesses can use marketing and advertising techniques to create new wants and needs among consumers.
For instance, by highlighting the benefits of a product or service, a business can create a perceived need or want among consumers that did not previously exist.
Therefore, it is important for businesses to continuously research and understand consumer needs and wants in order to stay competitive and meet the evolving needs of their target market.
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An electronics firm produces two models of pocket calculators: the A-100 (A), which is an inexpensive four-function calculator, and the B-200 (B), which also features square root and percent functions. Each model uses one (the same) circuit board, of which there are only 2,500 available for this week's production. Also, the company has allocated a maximum of 800 hours of assembly time this week for producing these calculators, of which the A-100 requires 15 minutes (.25 hours) each, and the B-200 requires 30 minutes (.5 hours) each to produce. The firm forecasts that it could sell a maximum of 4,000 A-100s this week and a maximum of 1,000 B-200s. Profits for the A-100 are $1.00 each, and profits for the B-200 are $4.00 each.
What are optimal weekly profits?
Which resource is slack (not fully used)?
Answer:
okay so all im seeing is $1.00 A + $4.00 B = Z or .25 A + .5 B ≤ 800 but. im so sorry if i was wrong i just get notifications for whenever someone needs help.
Explanation:
im really sorry if its wrong
The ideal return is $5200. Circuit Board is underutilized, making it a slack resource. (2200 of the available 2500) The ideal return is $5200.
What are Optimal Profits ?The price at which a seller can maximize their pricing while still making the most profit is known as the optimal price. The aim is to make as much money as possible.
Max Z, an objective function, equals 1A + 4B.
Here, A and B represent the weekly production targets for units of A100 and B200, respectively.
Each unit of A generates $1, but each unit of B generates $4 in profit.
be created correspondingly each week.
Where each unit of A generates $1 in profit and each unit of B generates $4 in profit.
With restrictions:
Subject to contraints:
A + B \leq 2500 (Total circuit board available)
0.25A + 0.5B \leq 800 (Total available hours of production)
A \leq 4000 (Maximum Model A that can be sold)
B \leq 1000 (Maximum Model B that can be sold)A + B \leq 2500 (Total circuit board available)
0.25A + 0.5B \leq 800 (Total available hours of production)
A \leq 4000 (Maximum Model A that can be sold)
B \leq 1000 (Maximum Model B that can be sold
Both A & B are non negative and integers The Objective is the maximize the profit.
Objective function: Max Z = 1A + 4Here A and B are the number of units of A100 & B200 to
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In your teams, use the above guidelines to write a summary of the below interview. The interview subject
was a tax associate/accountant at PricewaterhouseCoopers. The interviewer was seeking information for
her portion of the Employment Outlook Report.
Remember that all team members must summarize their interviews. Collectively, these interviews should
all be an equal number of words written in a consistent style. Your team should also note any interesting
overlaps or surprising findings among all the interviews.
Original Interview Text. The U.S. Bureau of Labor Statistics gives similar job outlook projections for all
accounting and auditors. Similarly, the projected job growth is 13% with the mean salary falling around
$72,500.
Interview: Lucero Martinez, 22-years-old, tax associate/accountant at PricewaterhouseCoopers (PwC).
Q: What area of accounting is your focus in and what are some of the duties required?
A: My accounting focus area is tax accounting and in addition I have been working with the forensics team
as well. I assist in the administration of a settlement fund to compensate businesses that were affected
by the Deepwater Horizon oil spill of 2010. I am the primary reviewer and process Business Economic
Loss Claims, analyze variances between Profit & Loss statements versus Federal tax returns and make
calculations to determine compensation for claimants.
Q: Did your job require a specific level of education?
A: My specific job requires 150 credit hours including 30 advanced accounting hours. My firm
emphasizes the importance of a Certified Public Accounting license (which I am currently working on
obtaining).
Q: When you applied for your job was it in demand? Or is hiring more seasonal?
A: Accounting is always in demand! PwC specifically hired several interns and associates year-round! It's
an exciting field to be in!
Q: If you had any advice for future accounting professionals, what would it be?
A: Accounting isn't easy, but anything worth doing will not come easy! It's a great field to be in and
opportunities are endless so never be afraid to explore all of your options (government, public, academia,
industry accounting etc.). Talk to professionals, instructors, do internships, and learn. I recommend
reaching the State requirement of 150 credit hours to sit for the CPA. Obtaining this license will help you
advance your career at a faster pace! Attend socials because networking is key! Work hard and always
keep a positive attitude! Accounting is where you want to be. One thing for sure is that you will NEVER not
have a job in accounting.
IN A COMPUTER SCIENCE FIELD.
Instead of focusing on highlighting specific viewpoints or experiences, pay attention to clearly stating what was discussed in the interview.
How do you summarize an interview?Instead of going into specifics regarding viewpoints or stories, focus on giving a concise description of what was discussed in the interview. Instead of paraphrasing what the interviewee said, the summary should serve as a roadmap for what can be learned from the conversation.
10 Tips to Help You Get Ready for an Accounting Interview
Identify Your "Why" What makes you desire to work as an accountant? ... Review Your Basics. Several common accounting interview questions are as follows: ... Create stories.
Show up early.
Be specific, demonstrate your value, research the business, and study your field.
Inform the truth.
Take the interviewer's advice to heart.
Never disparage a professor, friend, job, or your university.
Keep an eye on your grammar.
Be ready to answer some personal queries.
Keep quiet until the interviewer brings up compensation and benefits.
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Pay attention to clearly stating what was discussed during the interview rather than concentrating on highlighting particular points of view or experiences.
How can an interview be summarized?Focus on succinctly describing the content of the interview rather than delving into specifics about points of view or narratives. The summary should be a roadmap for what can be learned from the conversation, not a paraphrase of what the interviewee said.
A structured conversation in which one participant asks questions and the other responds is known as an interview. A one-on-one conversation between an interviewer and an interviewee is referred to as an "interview" in common usage.
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What additional data could be obtained either internally (from other data sources at LendingClub) or externally (from other businesses or sources) that would help you predict which loans will be rejected?
When deciding whether to approve you for a loan and what rate of interest to charge you, lenders look at both your credit ratings and the details on your credit report.
Which four loan types are there?Personal loans, auto loans, college loans, mortgages, home equity borrowing loans, debt consolidation loans, and payday loans are the eight distinct loan kinds you should be aware of.
What is a loan used for primarily?Debt consolidation One of the popular reasons for taking out a personal loan is to consolidate debt. A 2022 LendingTree analysis found that among people with excellent credit, debt consolidation constituted the most common justification for personal loan applications.
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Machine X has an initial cost of $12,000 and annual maintenance of $700 per year. It has a useful life of four years and no salvage value at the end of that time. Machine Y costs $22,000 initially and has no maintenance costs during the first year. Maintenance is $200 at the end of the second year and increases by $200 per year thereafter. Machine Y has a useful life of eight years and an anticipated salvage value of $5,000 at the end of its useful life. If the MARR is 6%, what is the approximate Net Present Worth (NPW) of machine X
The approximate Net Present Value of the Machine X for the above conditions will be -$14,425.5.
The computation of the NPV, or the Net Present Value of the Machine X will be done with the help of the provided information and using them into the generalized formula. The methods have been shown below.
NPV of Machine X = Opening Cost + Annual Costs (Principal/Annuity, interest, period)
NPV of Machine X = -12000 - 700(p/a,6%,4)
NPV of Machine X= -12000 – 2425.5
NPV of Machine X = -14,425.5
Therefore, the Net Present Value, or the NPV, of Machine X is -$14,425.5.
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What is the ratio of purple flowers to white flowers ?: 1?
Purple flowers to white blossoms are split in a ratio of 3:1.
The alpha factor (), which is the ratio of a transistor's collector and emitter currents, is always less than one (between 0.5 and 1). Current gain (= Ic/Ib), often known as the ratio of its collector and base currents, is always larger than 1. An alternate formula for calculating the factor is = /(+1) = 0.996/ 0.992=1 = /(+1).=1/1+1=1/2=0.5. A proportion also exists when two ratios are equivalent. A ratio in mathematics displays how often one number occurs in another. In a fruit plate, for instance, the ratio of oranges to lemons would be eight to six . This demonstrates that the tweet is being criticized and that some people believe its content to be inappropriate
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Which of the following is not a reason for the existence of a monopoly?
a. Sole ownership of a key resource
b. Patents
c. Copyrights
d. Diseconomies of scale
Diseconomies of scale is not a reason for the existence of a monopoly. The phenomenon known as diseconomies of scale occurs when a company experiences rising marginal costs per additional unit of output.
Option D is correct.
What Are Scale Diseconomies?When a company or business expands to such an extent that the costs per unit rise, this is known as a diseconomy of scale. It occurs when a company no longer benefits from economies of scale. Diseconomies of scale are cost disadvantages incurred by economic actors when an organization's size or output increases, resulting in higher per-unit costs for goods and services. Diseconomies of scale are the antithesis of economies of scale.
Monopoly existence :In a game of Monopoly, there is only one seller on the market. The monopoly situation is viewed as the complete opposite of perfect competition in conventional economic analysis. The industry demand curve that faces the monopolist is, by definition, sloping downward.
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In the december 31, 2017, consolidated balance sheet of patrick and its subsidiary, what amount of total stockholders' equity should be reported?
A consolidated balance sheet presents the financial position of an affiliated group of companies.
In the end, a balance sheet is produced that displays the group's assets, liabilities, and equity as though it were a single company. A comprehensive set of consolidated financial accounts normally includes this document.
Inter-company transactions are excluded from a consolidated balance statement in order to avoid any double counting that can inflate any accounts. The consolidation procedure necessary to produce a consolidated balance sheet is time-consuming and error-prone when done manually.
Therefore, a number of commercially available software packages offer capabilities that enable a more automated consolidation process; this aids in the completion of a quicker close and the quicker release of financial statements. Assets and liabilities are balanced in a statement called a balance sheet.
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What is the process of deciding which goods and services will be purchased or provided so that the most satisfaction can be obtained?
The concept mentioned is Economizing. It means trying to save money by reducing the amount that you are spending.
The process of deciding which goods and services to buy or to get the most satisfaction is called Economizing. You must maximize the value of your wealth.
Caring for the environment means you stop complaining about what you don't have and start making the most of what you have. Savings are a huge benefit as people think about where they can save on costs and most unnecessary expenses are eliminated in a way they wouldn't otherwise have.
So as you make decisions, you can see how it helps people sort through the mess that has been created everywhere in front of them. Resource conservation means using resources in such a way that the maximum return per unit of use is achieved.
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Which of the following statements about break-even analysis is true?
A) it is a technique used to calc fixed costs
B) it is used to determine how much production experience a company must have to achieve its desired efficiencies
C) it is calculated using variable costs, the unit price, and fixed cost
C) The claims made about the accuracy of the break-even analysis are true; it is computed using variable costs, the unit price, and fixed expenses.
How is Break-Even Analysis Conducted?A financial formula called a break-even analysis is performed to figure out a company's break-even point (BEP). It is not a computation, but rather an internal management tool that is frequently disclosed to outside parties like regulators or investors. Although it could be requested by financial institutions as part of your financial projections on a bank loan application.
In relation to unit pricing and profit, the formula takes both fixed and variable costs into consideration. No matter how many units of a good or service are sold, fixed expenses stay the same. Examples of fixed expenditures include mortgage or rent for a facility, expenses for equipment, salaries, and interest on debt.
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drag the item from the item Bank to its corresponding match this is a book listening words or other linguistic items in a particular category for subject with specialized information about them
The process of categorizing words for listening books or other linguistic items is known as taxonomy. Taxonomy is a system of classifying items into specific categories based on their common characteristics.
Taxonomy is used to organize and structure knowledge in a way that is easily understood and accessible. In the case of book listening words or other linguistic items, taxonomy involves classifying them into categories according to their meaning, origin, or purpose. For example, items can be categorized based on their purpose, such as fiction, non-fiction, poetry, etc. They can also be classified based on origin, such as items originally spoken in a certain language or items originating from a certain region.
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Which component of the communication model is responsible for initiating the transaction and encoding the message
Sender is the component of the communication paradigm that initiates the transaction and encodes the message.
What exactly is communication?The conveyance of information is commonly defined as communication. The phrase can also apply to the message itself, as well as the branch of study that investigates these transmissions, known as communication studies. Some people argue about the specific definition of communication, such as whether inadvertent or unsuccessful transmissions are included, and whether communication not only transmits meaning but also creates it. Communication models seek to give a simplified understanding of its primary components and their interactions. Many of them incorporate the notion that a source use a coding system to convey information in the form of a message. They send it across a channel to a receiver, who must decode it to comprehend its meaning.
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What are 3 benefits of term insurance?
Term insurance is a cost-effective and reliable way to provide financial security for your family and loved ones. Here are three key benefits of term insurance:
1. Affordable Coverage: Term insurance offers a high level of coverage at an affordable price. This means that you can protect your family and loved ones for less than the cost of other types of insurance.
2. Flexible Terms: With term insurance, you can choose the length of the policy and the amount of coverage that best meets your needs. You can also adjust the policy as your needs change.
3. Tax Benefits: Term insurance policies are often eligible for tax benefits, which can help reduce your overall tax burden. This is an especially important benefit to consider if you are using term insurance to provide financial security for your family or loved ones.
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1) Scenario: Company A and Company B are considering whether to spend a certain sum of money to advertise their new range of products. If Company A chooses to advertise while Company B does not, Company A's annual sales will increase by $5 million while Company B's sales will remain unchanged. If Company B chooses to advertise while Company A does not, Company B's annual sales will increase by $5 million while Company A will not experience any change in its sales. If both the companies decide to advertise, their sales will increase sales by $2 million each and if none of them spends on advertisement, their sales will remain unchanged.
Refer to the scenario above. If the cost of advertising is negligible, what will the outcome of this game be?
A. Company B will advertise while Company A will not advertise.
B. Company A will advertise its products while Company B will not advertise.
C. Neither of the companies will advertise its products.
D. Both the companies will advertise their products.
2) A payoff matrix shows ________.
A. the payment made to each factor of production for the production of a good
B. the various combinations of inputs required to produce a good
C. the return from each action that players can take in a game
D. the different combinations of two goods that can be bought with a given income
Answer: 1. D. Both the companies will advertise their products.
2. C. the return from each action that players can take in a game.
Explanation:
1. It should be noted that in a situation whereby the cost of the advertising is negligible, the outcome of this game will be that the companies will both advertise their products. By doing this, both of the companies will b better off as there'll be an increase in sales. Therefore, the correct option is D.
2. The payoff matrix is used to show the possible outcome that'll be made by an economic entity when a strategic decision is made by the individual or firm. It shows the return from each action that the players can take in a game. Therefore, the correct option is C.
Quetion Six: The following account appear in the ledger of Alico Corporation after the book are cloed at December 31, 2019. Common Stock, $2 par value, 700,000 hare authorized, 400,000 hare iued …………………………………………………………………………$800,000 Paid-in Capital in Exce of Par Value—Common Stock …………………. 650,000 Preferred Stock, $100 par value, 8%, 10,000 hare authorized; 2,000 hare iued …………………………………………………………………………. 200,000 Retained Earning ……………………………………………………………. 900,000 Treaury Stock (10,000 common hare) ………………………………………85,000 Paid-in Capital in Exce of Par Value—Preferred Stock ……………………. 310,000 Required: Prepare the tockholder' equity ection at December 31, 2019
Assets = Liabilities + Stockholders' Equity is the formula for a balance sheet. The shareholders' equity formula is as follows: paid-in capital plus retained earnings minus treasury stock. Stock and cash dividends are not included in the financial statements.
The shareholders’ equity portion of the balance sheet reports the worth of the stockholders. Divided into two components, paid-in capital (stockholder investments) and retained earnings (profits generated by the corporation.)
The first five accounts listed above add up to the total paid-in capital, which includes the Preferred Stock account, the Common Stock account, the Paid-in Capital in Excess of Par account, the Paid-in Capital from the Sale of Treasury Stock account, and the Paid-in Capital from Excess of Par account.
All issued shares are considered common stock, even those that have been repurchased by the company. The value of shareholders should not include treasury stock because it is not held by individual investors. Stockholders' equity is calculated by taking the value of issued shares less the value of shares held in treasury.
Therefore, Stockholder Equity Section = (Common Stock + Paid-in Capital in Excess of Par Value—Common Stock + Preferred Stock + Retained Earning + Paid-in Capital in Excess of Par Value—Preferred Stock) - Treasury Stock
Stockholder Equity = 800,000$ + 650,000$ + 200,000$ + 900,000$ + 310,000$ - 85,000$ = 2,775,000$
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The right question is:
Question Six: The following account appeared in the ledger of Alico Corporation after the book are closed on December 31, 2019. Common Stock, $2 par value, 700,000 shares authorized, 400,000 shares issued …………………………………………………………….......................................……………$800,000
Paid-in Capital in Excess of Par Value—Common Stock ……...............650,000
Preferred Stock, $100 par value, 8%, 10,000 shares authorized; 2,000 shares issued ………………………………………………………............…………………. 200,000 Retained Earning ………………………………….....................…………………………. 900,000
Treasury Stock (10,000 common shares) ……………………………………......…85,000 Paid-in Capital in Excess of Par Value—Preferred Stock …………..........310,000
Required: Prepare the stockholder's equity section on December 31, 2019
What are the five 5 important factors that she needs to consider before buying the business?
The important factors that she/he needs to consider before buying the business is Location, Furniture, fixtures and equipment, Inventory, Trained employees, Established customer base, Existing cash flow.
If you include the time needed to find a potential target firm, the process of buying a business might take longer and involve months of negotiation. However, it may be a gratifying process that results in the acquisition of a prosperous company with proper planning and the assistance of an advisory team.
You are buying an income stream when you buy an existing company. The cash flow need to be sufficient to cover your living expenses as well as the new debt service to be paid to the bank, SBA, vendor, or whoever else.
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Which of the following would appear as a credit memorandum on the bank statement:
A) service charge
B) NSF check
C) EFT deposit
D) bank correction of an error from recording a $300 check paid as $30
Interest would increase an account and thus would be a credit memorandum.
For which of the following would a bank issue a credit memorandum?Credit memos from a bank are usually in regard that a bank if reversing some sort of transaction in which the bank made a payment it should not have, or the bank may have made a collection upon a note receivable or a certificate of deposit.
Which of the following statements reflects a weak internal control system?The correct answer is option d. A single employee is responsible for the collecting and recording of cash. Sound internal control will not let a single employee handles the responsibility of collecting and recording cash.
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You deposit $300 in a bank account that pays 6% stated annual interest compounded quarterly. What is the value of your investment at the end of 10 years
$544.21 is the value of your investment at the end of 10 years at deposited amount of $300 in a bank account that pays 6%.
given data:
deposited amount = $300
interest amount = 6%
the formula will be:
A=P(1+r/400)^4n
substitution the above values:
future value = $300(1+6/400)^(4*10)
= $544.21
Investments are financial commitments made to acquire assets in the hopes that their value would rise over time. Investment necessitates the loss of a current resource, such as time, money, or effort. In the world of finance, investment is done in order to profit from the asset being put to use. A gain (profit) or loss realised through the sale of a home or investment, unrealized capital gain (or loss), investment income like dividends, interest, or rental income, or a mix of capital gain and income may all be included in the return. The return may also include foreign exchange profits or losses as a result of shifting exchange rates.
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A determination of cost savings obtained by outsourcing cafeteria services is most likely to be an objective of:
a. Environmental auditing.
b. Financial auditing.
c. Compliance auditing.
d. Operational auditing.
An operational audit is the most likely target for determining the cost savings obtained by outsourcing cafeteria services. An operational audit is a systematic, independent and documented process of obtaining evidence and objectively evaluating it to determine the extent to which an organization's operations are effective, efficient and satisfactory.
In the context of outsourcing cafeteria services, an operational audit would include a review of the costs associated with outsourcing services, the quality of services provided, and the overall impact of outsourcing on the organization. Ultimately, the goal of an operational audit is to determine whether the cost savings gained by outsourcing cafeteria services justify the move.
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