Answer:
A dream home is a home that you wish you had.
Explanation:
Answer: A dream home is unique to each person. For example: ones dream home might be living in the country with cows and farmland, while someone else might prefer living in a busy city. Its unique to you.
Explanation:
Match each of the following terms A through F with the appropriate definitions 1 through 6.
A. Maker of a note
B. Interest
C. Promissory note
D. Payee of a note
E. Principal of a note
F. Dishonoring a note _____
1. A written promise to pay a specified amount either on demand or at a definite future date. _____
2. The cost of borrowing money for a borrower, alternatively the profit from, lending money for a lender. _____
3. One who signs a note and promises to pay it at maturity. _____
4. The one to whom the promissory note is made payable. _____
5. Refers to a note maker's inability or refusal to pay the note at maturity. _____
6. The amount that the signer of a note agrees to pay back when the note matures, not including interest. Defining promissory notes.
Solution :
A. Maker of a note: 3. It is the person who signs the note and promises to pay.
The maker puts his signature and promises to pay the bearer the amount of the value of the note.
B. Interest: 2. It is the cost of borrowing money and profit for lender.
It is the extra money that the borrower pays to the lender. It is like an income to the lender.
C. Promissory note: 1. It is a promise to pay the signed sum.
It is a note that promises to pay the amount of the value.
D. Payee of a note: 5. It is the person to which the note is payable.
Payee is the individual who is the owner of the note.
E. Principal of a note: E. It is the amount signed to be paid back excluding interest.
It is the basic amount signed to be paid to the bearer.
F. Dishonoring a note: 5. It is inability to pay the signed sum.
Dishonoring is refusal to pay or the inability to pay the value for the signed amount.
Neha and Teresa are roommates. They spend most of their time studying (of course), but they leave some time for their favorite activities: making pizza and brewing root beer. Neha takes 3 hours to brew a gallon of root beer and 2 hours to make a pizza. Teresa takes 7 hours to brew a gallon of root beer and 5 hours to make a pizza.
Neha's opportunity cost of making a pizza is _____ of root beer, and Teresa's opportunity cost of making a pizza is _____ of root beer.
_____ has an absolute advantage in making pizza, and _____ has a comparative advantage in making pizza.
If Neha and Teresa trade foods with each other, _____ will trade away pizza in exchange for root beer.
The price of pizza can be expressed in terms of gallons of root beer. The highest price at which pizza can be traded that would make both roommates better off is _____ of root beer, and the lowest price that makes both roommates better off is _____ of root beer per pizza.
Answer:
Neha's opportunity cost of making a pizza is 0.67 gallons of root beer, and Teresa's opportunity cost of making a pizza is 0.71 gallons of root beer.
Neha has an absolute advantage in making pizza, and Neha has a comparative advantage in making pizza.
If Neha and Teresa trade foods with each other, Neha will trade away pizza in exchange for root beer. The price of pizza can be expressed in terms of gallons of root beer. The highest price at which pizza can be traded that would make both roommates better off is 0.71 gallons of root beer, and the lowest price that makes both roommates better off is 0.67 gallons of root beer per pizza.
Explanation:
Neha's opportunity cost to brew a gallon of root beer = 3/2 = 1.5 pizzas
Neha's opportunity cost to make a pizza = 2/3 = 0.67 gallons of root beer
Teresa's opportunity cost to brew a gallon of root beer = 7/5 = 1.4 pizzas
Teresa's opportunity cost to make a pizza = 5/7 = 0.71 gallons of root beer
Opportunity costs are extra costs or benefits lost that result from choosing one activity or investment over another alternative. E.g. in this case, Neha can either make 1.5 pizzas or 1 gallon of root beer during a 3 hour period, but she cannot make both of the together. She must choose one or the other.
Varughese incorporated is working on its cash buget for March. The budgeted beginning cash balance is $33,000. Budgeted cash receipts total $182,000 and buegeted cash disbursements total $191,000. The desired ending cash balance is $40,000. To attain its desired ending cash balace for March, the company needs to borrow:__.
a. $40,000.
b. $0.
c. $16,000.
d. $64,000.
Answer:
C. $16,000
Explanation:
Beginning cash balance
$33,000
Add cash receipt
$182,000
Less cash disbursement
($191,000)
Ending cash balance
$24,000
Desired ending cash balance
$40,000
Borrowing ($40,000 - $24,000)
$16,000
Therefore, the company needs to borrow $16,000 to attain its desired ending cash balance for March.
Information concerning a magazine’s readership is of interest both to the publisher and to the magazine’s advertisers. A survey of 500 subscribers included the following questions. For each question, determine the data type of possible responses.
a What is your age?
b What is your gender?
c What is your marital status?
d Is your annual income less than $30000,
between $30000 and $60000, or over
$60 000?
e To how many other magazines do you
subscribe?
f How do you rate the feature article
published in the current issue of the magazine (very good, good or poor)?
Iris, a calendar year cash basis taxpayer, owns and operates several TV rental outlets in Florida, and wants to expand to other states. During 2018, she spends $14,000 to investigate TV rental stores in South Carolina and $9,000 to investigate TV rental stores in Georgia. She acquires the South Carolina operations, but not the outlets in Georgia. As to these expenses, Iris should: Group of answer choices Expense $9,000 for 2018 and capitalize $14,000. Capitalize $23,000. Capitalize $14,000 and not deduct $9,000. None of the above. Expense $23,000 for 2018.
Answer:
e. Expense $23,000 for 2018.
Explanation:
In this given case, Iris owns and operate TV rentals outlets, the investigation expenses which are deductible for 2018 are:
= $14,000 + $9,000
= $23,000
$23,000 should be charged off as expense for 2018.
A freight delivery service is looking at the impact of allowing overtime in their packing-sorting department. For a week they measured the average number of packages sorted during a regular 8-hr shift. The next week they measured the average number of packages sorted during a regular shift with 2 hr of overtime. During the first week (just regular time), the average number of packages sorted was 1,250. During the second week (regular time with overtime), the average number of packages sorted was 1,500.
Required:
a. What was the productivity during the first week?
b. What was the productivity during the second week?
Answer:
a. 31 packages per hour
b. 30 packages per hour
Explanation:
If we consider 5 working days in the week and 8 hours a day in the first week
a. The total hours working in a week = 40
Productivity = 1250/40
Productivity = 31 packages per hour
b. During the second week the hours worked per day = 10
Productivity = 1500/50
Productivity = 30 packages per hour
Shelley is self-employed in Texas and recently attended a two-day business conference in New Jersey. After Shelley attended the conference, she had dinner with an old friend who lived nearby. Shelley documented her expenditures (described below). What amount can Shelley deduct.?
Airfare to New Jersey $2,180
Meals at the conference 238
Meal with an old friend 130
Lodging in New Jersey 432
Rental car 198
a. $3,048.
b. $1,958 if Shelley itemizes the deductions.
c. $2,929.
d. all of these expenses are deductible but only if Shelley attends a conference in Texas.
e. none of the expenses are deductible because Shelley visited her friend.
Answer:
$ 2929
Explanation:
Calculation for What amount can Shelley deduct
Airfare to New Jersey $2,180
Add Meals 119
(238/2)
Add Lodging in New Jersey 432
Add Rental car 198
Deducted amount $2929
Therefore the amount that Shelley can deduct will be $2929
Based on Jacobs (1954). The Carter Caterer Company must have the following number of clean napkins available at the beginning of each of the next four days: day 1, 1500; day 2, 1200; day 3, 1800; day 4, 600. After being used, a napkin can be cleaned by one of two methods: fast service or slow service. Fast service costs 50 cents per napkin, and a napkin cleaned via fast service is available for use the day after it is last used. Slow service costs 30 cents per napkin, and these napkins can be reused two days after they are last used. New napkins can be purchased for a cost of 95 cents per napkin. Determine how to minimize the cost of meeting the demand for napkins during the next four days. (Note: There are at least two possible modeling approaches, one network and one nonnetwork. See if you can model it each way.)
On December 1st, the company pays a local radio station $200,000 for 4 months of radio ads that are to be aired equally throughout December through March. Prepaid Advertising was debited on December 1st and no other entries regarding this transaction were made since then.
15. $ After the adjusting entry has been recorded on December 31", determine the amount of advertising expense for the year ended December 314 16. S After the adjusting entry has been recorded on December 31%, determine the ending balance in the prepaid advertising account that should be recorded on the December 31" Balance Sheet. Use the following transactions to answer questions
17-19 Determine the amount of revenue or expense that would be reported at the time of the transaction under the two methods. An example transaction has been completed for you.
Question Completion:
Journalize the adjusting entry.
Answer:
Adjusting Journal Entry:
December 31:
Debit Advertising Expense $50,000
Credit Prepaid Advertising $50,000
To record the advertising expense for the year (1 month's).
Explanation:
a) Data and Calculations:
December 1: Prepaid Advertising for 4 months = $200,000
Advertising expense for the year (1 month) = $50,000 ($200,000/4 months)
Balance of Prepaid Advertising for 3 months = $150,000 ($200,000 *3/4)
b) The Adjusting Journal entry recognizes the advertising expense that relates to the year and carry forward the prepaid balance to the next accounting year. Expenses and revenue are recorded when the services are consumed or rendered and not when cash is exchanged. In this case, the $200,000 is not recognized as advertising expense for the current year. Instead, only $50,000 is recorded as expense. The balance of $150,000 is carried forward to the next year when the service will be consumed.
The standard deviation of monthly changes in the spot price of live cattle is (in cents per pound) 1.2. The standard deviation of monthly changes in the futures price of live cattle for the closest contract is 1.4. The correlation between the futures price changes and the spot price changes is 0.7. It is now October 15. A beef producer is committed to purchasing 200,000 pounds of live cattle on November 15. The producer wants to use the December live cattle futures contracts to hedge its risk. Each contract is for the delivery of 40,000 pounds of cattle. What strategy should the beef producer follow?
Answer:
The answer is below
Explanation:
The optimal hedge ratio shows the degree of correlation between an asset or liability and the final product.
The optimal hedge ratio = correlation * (standard deviation of monthly changes in the spot price) / (standard deviation of monthly changes in the futures price)
The optimal hedge ratio = 0.7 * (1.2/1.4) = 0.6
The beef producer requires a long position = 0.6 * 200000 lbs = 120000 lbs of cattle.
The beef producer should take a long position in 3 December contracts closing out the position on November 15.
Discuss the purpose of strategic planning in a health care environment. Explain what factors affect future planning in an organization and what tools can be used for future planning
Answer: Strategic planning in health care organization is the outlining of steps to to to reach a specific goal within the health sector, it could be a challenge that needs to be solved or an improvement on already existing plans to make them better
Explanation:
Strategic planning in health care organization is the outlining of steps to to to reach a specific goal within the health sector, it could be a challenge that needs to be solved or an improvement on already existing plans to make them better
Factors that affect future planning in organization;
Poor planning; not having a proper plan can lead to failure most times. Sometimes, it's not just about planning but it's more importantly about having aims and objectives that would solve a problem, if it is not solving a problem then there would be failure.
Poor execution; this problem is most times caused by team members who have not grasped the full idea of what the plan is about, don't know how to go about it or are not enthusiastic about the plan.
Tools for planning;
SWOT Analysis
Porter's Five Forces
PESTLE Analysis
Visioning
VRIO Framework
The total effect of a price change on the amount of a good that a consumer demands can be broken down into two parts: the income effect and the substitution effect. Consider an increase in the price of the good and assume that the good in question is not a perfect substitute or a perfect complement relative to another good. 1st attempt See Hint If the good is normal, then (1) the substitution effect is the demand curve is , (2) the income effect is C , and (3) the slope of If, however, the good is inferior (but not a Giffen good), then (4) the substitution effect is , ,and (6) the slope of the demand curve is D ,(5) the income effect is Finally, if the good is a Giffen good then (7) the substitution effect is (9) the slope of the demand curve is ,(8) the income effect is ______, and (9) the slope of the demand curve is ______.
Answer:
1. negative, 2. negative, 3. negative, 4. negative, 5. positive, 6. negative, 7. negative, 8. positive, 9. positive
Explanation:
In the context, if the given good is normal, then substitution effect effect will be negative as the quantity demanded will decrease with the price for the normal goods. Income effect also becomes negative as the increase in the income will also increase he quantity that is demanded in the case of the normal good. And the demand curve slope will become negative as the substitution effect will overpower the income effect.
However, the substitution effect will be negative when the goods are inferior and the net income will be positive, but the demand curve slope will become negative as the positive income effect is not as large as to outweigh substitution effect.
When the good is Giffen good, the substitution effect will become negative and the income effect becomes positive and the demand curve slope becomes positive.
Would you prefer to buy an existing business or start from scratch? Why?
Answer:
I would start from scratch Because It helps u feel accomplished about your work
The deans' suite hoped to cut costs and decided to perform a total cost analysis on its vodka supplier. Consumption was currently 6,000 bottles per semester and this was predicted to maintain that level for the next few years. Their current source, Byron's, charged $9.50 per bottle and packed 288 bottles in a crate. The cost to ship the crate was $15. Another potential source of vodkas was Pancho's, who charged $9.00 per bottle but could ship only 100 bottles in a crate and at a higher price, $20. Assume that a partial crate may be purchased. What is the total annual cost to supply vodka from their current supplier
Answer:
$55,200
Explanation:
Consumption = 6000 bottles
Cost per bottle = $9
Consumption Cost = 6000*$9 = $54,000
No of crates = 6000/100 = 60 crates
Cost pet crate = $20
Crate cost = $1,200
Total annual cost = Consumption Cost + Crate cost
Total annual cost = $54,000 + $1,200
Total annual cost = $55,200
So, the total annual cost to supply vodka from their current supplier is $55,200
The total annual cost to supply vodka from their current supplier is $55,200.
Total annual costConsumption Cost:
Consumption Cost = 6000×$9
Consumption Cost = $54,000
Number of crates:
Number of crates = 6000/100
Number of crates= 60 crates
Total annual cost:
Total annual cost=$54,000+(60×$20)
Total annual cost = $54,000 + $1,200
Total annual cost = $55,200
Inconclusion the total annual cost to supply vodka from their current supplier is $55,200.
Learn more about total annual cost here:https://brainly.com/question/25799822
Lucid Lighting uses a predetermined overhead rate based on machine-hours to apply manufacturing overhead to jobs. Lucid has provided the following estimated costs for next year: Direct materials Direct labor Sales commissions Salary of production supervisor Indirect materials Advertising expense Rent on factory equipment OH Costs Lucid estimates that 10,000 direct labor-hours and 15,000 machine-hours will be worked during the year. The predetermined overhead rate per hour will be:
Answer:
$2.27
Explanation:
Note: The missing word is attached as picture
Salary of production supervisor $20,000
Indirect materials $4,000
Rent of factory Equipment $10,000
Total estimated factory overhead $34,000
Divide by Estimated machine hours 15,000
Predetermined overhead rate $2.27
Swifty Corporation developed the following data for the current year: Beginning work in process inventory $270000 Direct materials used 164000 Actual overhead 308000 Overhead applied 236000 Cost of goods manufactured 284000 Total manufacturing costs 790000 Swifty Corporation's ending work in process inventory is
Answer:
Ending WIP= 776,000
Explanation:
First, we need to calculate the cost of direct labor:
Total manufacturing costs= direct material + direct labor + applied overhead
790,000 = 164,000 + direct labor + 236,000
390,000 = direct labor
To calculate the ending work in process inventory, we need to use the following formula:
cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP
284,000 = 270,000 + 164,000 + 390,000 + 236,000 - Ending WIP
-776,000 = -Ending WIP
Ending WIP= 776,000
The gross domestic product (GDP) of the United States is defined as the market value of allfinal goods and services produced within the United States in a given period of time. Based on this definition, indicate which of the following transactions will be included in (that is, directly increase) the GDP of the United States in 2018.
a. An accountant starts a client's 2018 tax return on April 14, 2019, finishing it just before midnight on April 15, 2019. Chocolate Express, a Swiss chocolate company, produces a chocolate bar at a plant in Illinois on December 5, 2018.
b. An elementary school student buys the chocolate bar on December 24. Rotato, a U.S. tire company, produces a set of tires at a plant in Michigan on September 13, 2018. It sells the set of tires to Speedmaster for use in the production of a two-door coupe that will be made in the United States in 2018. (Note: Focus exclusively on whether production of the set of tires increases GDP directly, and ignore the effect of production of the two-door coupe on GDP.)
c. Zippycar, a U.S. automobile company, produces a convertible at a manufacturing plant in Minneapolis on January 9, 2018. It sells the car at a dealership in San Diego on February 24, 2018.
d. Athleticus, a U.S. shoe company, produces a pair of sneakers at a plant in Vietnam on March 17, 2018. Athleticus imports the pair of sneakers into the United States on May 21, 2018.
Answer:
Chocolate Express, a Swiss chocolate company, produces a chocolate bar at a plant in Illinois on December 5, 2018.
b. An elementary school student buys the chocolate bar on December 24..
c. Zippycar, a U.S. automobile company, produces a convertible at a manufacturing plant in Minneapolis on January 9, 2018. It sells the car at a dealership in San Diego on February 24, 2018.
d. Athleticus, a U.S. shoe company, produces a pair of sneakers at a plant in Vietnam on March 17, 2018. Athleticus imports the pair of sneakers into the United States on May 21, 2018.
Explanation:
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export
Net export = exports – imports
When exports exceed import there is a trade deficit and when import exceeds import, there is a trade surplus.
Items not included in the calculation off GDP includes:
1. services not rendered to oneself
2. Activities not reported to the government
3. illegal activities
4. sale or purchase of used products
5. sale or purchase of intermediate products
The accountant's work would be included in 2019's GDP
The chocolate purchase would be included in GDP as part of consumption expenditure
Tire is an intermediate good in this question and would not be included in GDP
The purchase of the shoe from Vietnam would have no effect on GDP because it decreases net export
The outstanding capital stock of Novak Corporation consists of 1,800 shares of $100 par value, 7% preferred, and 5,100 shares of $50 par value common. Assuming that the company has retained earnings of $80,000, all of which is to be paid out in dividends, and that preferred dividends were not paid during the 2 years preceding the current year, state how much each class of stock should receive under each of the following conditions.
(a) The preferred stock is noncumulative and nonparticipating (Round answers to decimal places, es $38,487.) Preferred Common
(b) The preferred stock is cumulative and nonparticipating. (Round answers to decimal places, es $38,487) Preferred Common decimal places The preferred stock is cumulative and participating (Round the rate of participation to 4 decimal places, s 1.4278X Round answers to $38.487.)
Solution :
Preferred Common
Non cumulative and non Participative 12,600 67,400
Cumulative and non participative 37800 42200
Cumulative and participative 47876 32124
Current Stock Out Standing
Common stock at the rate 50 5100 shares 255000
Preferred stock 7% at the rate 100 1800 shares 180000
Cumulative the annual dividend on the preferred stock
Preferred stock dividend (180000 x 7%) 12600
Dividend Arrears to preferred stock (12600 x 2) 25200
Non cumulative and non participative
Preferred Common Total
Current year 12600 12600
Arrears 0 0
Common stock 67400 67400
Total dividend 12600 67400 80000
Cumulative and non participative
Preferred Common Total
Current year 12600 12600
Arrears 25200 25200
Common stock 42200 42200
Total dividend 37800 42200 80000
Cumulative and participative
Preferred Common Total
Current year 12600 12600
Arrears 25200 25200
Common stock (255000 x 7%) 17850 17850
Balance dividend pro data 10076 14274 24350
Total dividend 47876 32124 80000
Working notes :
Amount for the participation = 80000-(12600+25200+17850) = 24350
Rate of participation = [tex]$\frac{24350}{(255000+180000)} $[/tex] = 5.5977%
Participating dividend:
Preferred stock = 18000 x 5.5977% = 10076
Common stock = 255000 x 5.5977% = 14274
Total participating dividend = 24350
Recording Transactions in Journal Entries and T-Accounts
On December 1, 2018, R. Lambert formed Lambert Services, which provides career and vocational counseling services to graduating college students. The following transactions took place during December, and company accounts include the following: Cash, Accounts Receivable, Land, Accounts Payable, Notes Payable, Common Stock, Retained Earnings, Counseling Services Revenue, Rent Expense, Advertising Expense, Interest Expense, Salary Expense, and Utilities Expense.
(1) Raised $7,000 cash through common stock issuance.
(2) Paid $750 cash for December rent on its furnished office space.
(3) Received $500 invoice for December advertising expenses.
(4) Borrowed $15,000 cash from bank and signed note payable for that amount.
(5) Received $1,200 cash for counseling services rendered.
(6) Billed clients $6,800 for counseling services rendered.
(7) Paid $2,200 cash for secretary salary.
(8) Paid $370 cash for December utilities.
(9) Declared and paid a $900 cash dividend.
(10) Purchased land for $13,000 cash to use for its own facilities.
(11) Paid $100 cash to bank as December interest expense on note payable.
Required:
A. Prepare journal entries for each of the transactions 1 through 11.
B. Set up T-accounts for each of the accounts used in part a and post the journal entries to those T-accounts.
Answer:
A. Journal Entries:
1. Debit Cash $7,000
Credit Common Stock $7,000
To record the issuance of stock.
2. Debit Rent Expense $750
Credit Cash $750
To record the payment of rent expense for December.
3. Debit Advertising Expense $500
Credit Account Payable $500
To record the accrued expense.
4. Debit Cash $15,000
Credit Notes Payable $15,000
To record the borrowing of cash from bank with a note payable.
5. Debit Cash $1,200
Credit Counseling Services Revenue $1,200
To record the receipt of cash for counseling services rendered.
6. Debit Accounts Receivable $6,800
Credit Counseling Services Revenue $6,800
To record revenue for counseling services rendered.
7. Debit Salary Expense $2,200
Cash Cash $2,200
To record the payment for secretary salary.
8. Debit Utilities Expense $370
Credit Cash $370
To record the payment of utilities expense for the month.
9. Debit Dividends $900
Credit Cash $900
To record the payment of dividends.
10. Debit Land $13,000
Credit Cash $13,000
To record the purchase of land for cash.
11. Debit Interest Expense $100
Credit Cash $100
To record the payment of interest on Note Payable.
B. T-accounts:
Cash
Account Titles Debit Credit
Common stock $7,000
Rent Expense $750
Note payable 15,000
Counseling Services 1,200
Salary Expense 2,200
Utilities Expense 370
Dividends 900
Land 13,000
Interest Expense 100
Accounts Receivable
Account Titles Debit Credit
Counseling Services $6,800
Land
Account Titles Debit Credit
Cash $13,000
Accounts Payable
Account Titles Debit Credit
Advertising expense $500
Notes Payable
Account Titles Debit Credit
Cash $15,000
Common Stock
Account Titles Debit Credit
Cash $7,000
Retained Earnings
Account Titles Debit Credit
Counseling Services Revenue
Account Titles Debit Credit
Cash $1,200
Rent Expense
Account Titles Debit Credit
Cash $750
Advertising Expense
Account Titles Debit Credit
Accounts Payable $500
Interest Expense
Account Titles Debit Credit
Cash $100
Salary Expense
Account Titles Debit Credit
Cash $2,200
Utilities Expense
Account Titles Debit Credit
Cash $370
Dividends
Account Titles Debit Credit
Cash $900
Explanation:
a) Data and Calculations:
Transactions Analysis:
1. Cash $7,000 Common Stock $7,000
2. Rent Expense $750 Cash $750
3. Advertising Expense $500 Advertising Payable $500
4. Cash $15,000 Notes Payable $15,000
5. Cash $1,200 Counseling Services Revenue $1,200
6. Accounts Receivable $6,800 Counseling Services Revenue $6,800
7. Salary Expense $2,200 Cash $2,200
8. Utilities Expense $370 Cash $370
9. Dividends $900 Cash $900
10. Land $13,000 Cash $13,000
11. Interest Expense $100 Cash $100
Which of the following is a general example of a business?
Answer: D
Explanation:
And I just did it
Answer:
Explanation:
its actually C.
Q#1. How would you describe the word “CAREER” Explain in 4 to 6 sentences.
PLZ HELP IĹL GIVE BRAINLIEST !
Answer:
A career is the job or profession that someone does for a long period of their life.
Explanation:
Limited Liability Companies (LLCs) are gaining in popularity over sub-chapter S corporations because:_____.
A. LLCs offer better liability protection to their members.
B. Sub-chapter S corporations are being phased out by the government which is promoting.
C. LLCs as they requires less paperwork on the part of the IRS.
D. Sub-chapter S corporations are being taxed at a higher rate by the IRS.
E. They are simpler when it comes to paperwork, offer some of the same tax advantages and also protect members from unlimited financial exposure.
Answer:
E. They are simpler when it comes to paperwork, offer some of the same tax advantages and also protect members from unlimited financial exposure
Explanation:
Limited liability companies are set up to protect the owners from liability. The business is a seperate entity from the individual owners and their assets are not used to settle debts of the business.
This type of business is gaining more use than S corporation. S corporation in addition to having liability advantages also requires more rigid requirements to set up. They do not pay corporate tax, but rather are taxed as sole proprietorship or a partnership.
Because of the ease of setting up an LLC more people prefer it to an S corporation. It also protects owners from unlimited financial liability
Colby Corporation has provided the following information: Operating revenues from customers were $207,700. Operating expenses for the store were $119,000. Interest expense was $8,700. Gain from sale of plant and equipment was $3,700. Dividend payments to Colby's stockholders were $7,700. Income tax expense was $37,000. Prepaid rent expense was 4,100. How much was Colby's net income?
Answer:
$46,700
Explanation:
Operating revenue
$207,700
Less:
Operating expenses
($119,000)
Operating profit
$88,700
Less:
Interest expense
($8,700)
Income tax expense
($37,000)
Net income
$43,000
Add:
Gain from sale
$3,700
Total net income
$46,700
Therefore, Colby's net income is $46,700
Select the correct answer.
On May 30, 2015, XYZee Inc. paid a dividend of $10,000 to its shareholders. How will this transaction be recorded in the journal of the corporation?
A.
Cash Account (Debit) $10,000 Dividend Account (Credit) $10,000
B.
Dividend Account Debit) $10,000 Cash Account (Credit) $10,000
C.
Common Stock Account (Debit) $10,000 Cash Account Credit) $10,000
D.
Cash Account (Debit) $10,000 Common Stock Account (Credit) $10,0000
Answer:
answer is b
Explanation:
How did you identify your customers?
A refrigerator costs $800 on an installment plan that requires a down payment of $140 and monthly payments for 12 months. What are the monthly payments of the plan?
In general, a larger R squared tends to suggest that:_______.
a. the estimated sample regression function explains a greater percentage of the total variation in y
b. the estimated sample regression function is more accurate
c. the estimated sample regression function explains a greater percentage of the explained variation in y
d. the estimated slope coefficient is more likely to equal the population slope coefficient
Answer:
c. the estimated sample regression function explains a greater percentage of the explained variation in y
Explanation:
The above is the reason showing the direct correlation between the sample regression and the R Square value.
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Answer:
Oh dear... Do you need help with something or is this just something random- lol
Explanation:
Explain which types of market inefficiencies derive from monopolies. Use examples from the textbook to support your claims. Describe the types of inefficiencies that derive from monopolistic competition. Use examples from the textbook to support your claims. How are monopolies and monopolistic competitive firms profitable? Use examples from the textbook to support your analysis.
Answer:
The two types of market structure, monopoly, and monopolistic competition, generate essentially the same two types of market inefficiency:
Charging prices higher than marginal cost, meaning that consumers pay a higher price than they would otherwise in a perfectly competitive market.
Producing a smaller amount of output that in a perfectly competitive market.
The difference is in the degree of the inefficiency: monopolies are more market inefficient, and cause more harm to consumers, while monopolistic competition is a less inefficient market structure, and only causes marginal harm to consumers when compared to the hypothetical results of a perfectly competitive market structure.
The form of market inefficiency that can be derived from monopolies is higher prices.
It should be noted that in a monopoly and a monopolistic firm, consumers pay a higher price for the goods that they purchase. Monopolies cause more harm to the consumers.
Monopolies charge a price that's above the marginal cost. Monopolies and monopolistic competitive firms are profitable since they have the market power to produce few products and charge a higher price.
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On January 1, Year 1, Cumulus Contracting, Inc., entered into an agreement to construct a building on the customer's land. The project was expected to take 3 years and involve a total cost of $6,000,000. The client has agreed to pay Cumulus $9,000,000 upon completion of the building. Cumulus determined that revenue from this contract is recognized over time. Cumulus uses the input method based on costs incurred to measure progress toward completion of the contract.
The following information about the costs of the project are taken from the accounting records of Cumulus.
Year 1 Year 2 Year 3
Costs incurred during year $1,000,000 $3,000,000 $4,000,000
Expected future costs $5,000,000 $4,000,000 $0
Required:
Write the appropriate amounts.
Answer:
% completion method Year 1 Year 2 Year 3
Cost incurred in till previous year 0 1000000 4000000
Add Cost incurred during the year 1000000 3000000 4000000
Total cost incurred till date 1000000 4000000 8000000
Add: Estimated cost to be incurred 5000000 4000000 0
Total estimated cost to be incurred 6000000 8000000 8000000
Percentage of completion (A) 17% 50.00% 100%
Note: Percentage of completion = (Cost incurred till date / Total estimated cost)
Total revenue (B) 9000000 9000000 9000000
Total revenue recognized(A*B) 1500000 4500000 9000000
- Revenue recognized in previous year 0 1500000 4500000
Revenue recognized in current year 1500000 3000000 4500000
Year 1 Year 2 Year 3
Revenue 1500000 3000000 4500000
Less: Cost incurred 1000000 3000000 4000000
Gross profit 500000 0 500000