Answers
Answer:
insurable interest in the proposed insured
Explanation:
In the case when third-party ownership is included so the applicants are treated as the beneficiary and then needed to have an insurable interest.
The information regarding the third-party ownership should involve the following things:
It refers to the situation where the third party should invest in the economic rights for receiving the share of any type of future transfer.And at the time when the third party is treated as the beneficiary so it should have an insurable interest in the upcoming insured.So, the other options are incorrect.
Therefore we can conclude that In the case when third-party ownership is included so the applicants are treated as the beneficiary and then needed to have an insurable interest.
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Related Questions
Consider the supply and demand tables for milk. Draw the supply and demand curves for this market. Milk Market Price ($) Quantity (gallons) 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Supply Demand Price of One GallonQuantity SuppliedQuantity Demanded $120150 $240110 $47070 $610050 $1012020 The equilibrium price is and the quilbrium quantity is gallons of milk. At a price of $1, there is a and the price will At a price of $10, there is a and the price will
Answers
The equilibrium price is $4 and the equilibrium quantity is 70 gallons of milk. At a price of $1, there is a shortage and the price will increase. At a price of $10, there is a surplus and the price will fall.
What is the equilibrium?
Equilibrium is the point where the quantity demanded equal quantity supplied. On a graph, equilibrium is the point where the demand curve crosses the supply curve.
The price at equilibrium point is known as equilibrium price and the quantity is known as equilibrium quantity. Above equilibrium, quantity supplied exceeds quantity demanded and there is a surplus. Below equilibrium, quantity demanded exceeds quantity supplied and there is a shortage.
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Olmsted Co. has small computer chips assembled in Poland and transports the final assembled products to the parent, where they are sold by the parent in the U.S. The assembled products are invoiced in dollars. It uses Polish currency (the zloty) to produce these chips, and assemble them in Poland. The Polish subsidiary pays the employees in the local currency (zloty). Olmsted Co. finances its subsidiary operations with loans from a Polish bank (in zloty). The parent of Olmsted will send sufficient monthly payments (in dollars) to the subsidiary in order to repay the loan and other expenses incurred by the subsidiary. If the Polish zloty depreciates against the dollar over time, will that have a favorable, unfavorable, or neutral effect on the value of Olmsted Co.? Briefly explain.
Answers
Answer:
The solution to this question can be defined as follows:
Explanation:
In the given question, it would make a good impact, because Olmsted incumbent on zloty expenses, and in this condition will be used to cover such all costs, that is much less in dollars unless the zloty becomes reduced. They can also reimburse that zloty loan with much less dollar unless the zloty starts going down.
Starbucks opened its first store in Seoul, Korea in October 2002. The price of a tall vanilla latte is 3,000 Korean Won. In New York City, the price of a tall vanilla latte is $3.00. The exchange rate between Korean Won and U.S. dollars is Won 1,150/$. According to purchasing power parity, is the Korean Won overvalued or undervalued
Answers
Answer:
The Korean Won is undervalued
Explanation:
The Korean Won is undervalued if we determine this measure by comparing the prices of the vanilla latte at a Korean Starbucks and at an American Starbucks.
If purchasing power parity was perfectly equal, the latte at the Seoul Starbucks would be priced at $3,450, because the exchange rate is 1,150/$ and $3 x 1,1150 = 3,450, $3 being the price of the latte in New York City.
We can see that the latte in Seoul only costs 3,000 Won, so, under this comparison, the Won is undervalued by 450 Won.
Damon Industries manufactures 20,000 components per year. The manufacturing cost of the components was determined as follows:
Direct materials $100,000
Direct labor 160,000
Variable manufacturing overhead 60,000
Fixed manufacturing overhead 80,000
An outside supplier has offered to sell the component for $17. If Damon purchases the component from the outside supplier, the manufacturing facilities would be unused and could be rented out for $10,000. If Damon purchases the component from the supplier instead of manufacturing it, the effect on income would be:
a. a $30,000 increase.
b. a $50,000 decrease.
c. a $70,000 increase.
d. a $10,000 decrease.
Answers
Answer:
d. a $10,000 decrease.
Explanation:
The computation of the impact on the income is given below:
In case of making the product
= Direct material + direct labor + variable manufacturing overhead + rented
= $100,000 + $160,000 + $60,000 + $10,000
= $330,000
And, in case of buying the product
= 20,000 × $17
= $340,000
So there is a decrease of $10,000
The Best Manufacturing Company is considering a new investment. Financial projections for the investment are tabulated here. The corporate tax rate is 34%. Assume all sales revenue is received in cash, all operating costs and income taxes are paid in cash, and all cash flows occur at the end of the year. All net working capital is recovered at the end of the project.
Year 0 Year 1 Year 2 Year 3 Year 4
Investment $40,000
Sales revenue $20,500 $21,000 $21,500 $18,500
Operating costs 4,300 4,400 4,500 3,700
Depreciation 10,000 10,000 10,000 10,000
Change in NWC 460 510 560 460 ?
Change in NWC in year 4 will be sum of all the NWC needed in year 0-3.
A. Compute the incremental net income of the investment for each year. Do not intermediate calculations.
Year 1 Year 2 Year 3 Year 4
Net income $ $ $ $
B. Compute the incremental cash flows of the investment for each year. Do not round intermediate calculations. Negative amounts should be indicated by a minus sign.
Year 0 Year 1 Year 2 Year 3 Year 4
Cash Flow $ $ $ $ $
C. Suppose the appropriate discount rate is 12%. What is the NPV of the project? Do not Round intermediate calculations and round your final answer to 2 decimal places.
NPV $____
Answers
Answer:
The Best Manufacturing Company
A. Incremental Net Income:
Year 0 Year 1 Year 2 Year 3 Year 4
Sales revenue $20,500 $21,000 $21,500 $18,500
Operating costs 4,300 4,400 4,500 3,700
Depreciation 10,000 10,000 10,000 10,000
Net Income 6,200 6,600 7,000 4,800
Incremental NI 6,200 400 300 -3,200
B. Incremental cash flows:
Investment -$40,000
Sales revenue $20,500 $21,000 $21,500 $18,500
Operating costs -4,300 -4,400 -4,500 -3,700
Change in NWC -460 -510 -560 -460 1,990
Net Cash flows -24,260 $16,090 $16,440 $14,340 1,990
Incremental
cash flows -$24,260 $8,170 $350 -$2,100 -$12,440
C. NPV = $14,686.77
Explanation:
a) Data and Calculations:
Corporate tax rate = 34%
Year 0 Year 1 Year 2 Year 3 Year 4
Investment $40,000
Sales revenue $20,500 $21,000 $21,500 $18,500
Operating costs 4,300 4,400 4,500 3,700
Depreciation 10,000 10,000 10,000 10,000
Net Income 6,200 6,600 7,000 4,800
Incremental NI 6,200 400 300 -3,200
Incremental cash flows:
Investment -$40,000
Sales revenue $20,500 $21,000 $21,500 $18,500
Operating costs -4,300 -4,400 -4,500 -3,700
Change in NWC -460 -510 -560 -460 1,990
Net Cash flows -24,260 $16,090 $16,440 $14,340 1,990
Incremental
cash flows -$24,260 $8,170 $350 -$2,100 -$12,440
Net Present Value of the project:
Net Cash flows Discount PV
Factor
Year 0 -24,260 1 -$24,260.00
Year 1 16,090 0.893 14,368.37
Year 2 16,440 0.797 13,102.68
Year 3 14,340 0.712 10,210.08
Year 4 1,990 0.636 1,265.64
NPV $14,686.77
A senior executive is offered a buyout package by his company that will pay him a monthly benefit for the next 20 years. Monthly benefits will remain constant within each of the 20 years. At the end of each 12-month period, the monthly benefits will be adjusted upwards to reflect the percentage increase in the CPI. You are given: The first monthly benefit is R and will be paid one month from today. The CPI increases 3.2% per year forever. At an annual effective interest rate of 6%, the buyout package has a value of 100,000. Calculate R.
Answers
Answer:
R is 545.72.
Explanation:
This can be calculated using the formula for calculating the present value (PV) of a growing annuity as follows:
PVga = (R / (r - g)) * (1 – ((1 + g) / (1 + r))^n) .................... (1)
Where;
PVga = Present value of the growing annuity or the value of the buyout package = 100,000
R = The first monthly benefit = ?
r = Monthly effective interest rate = annual effective interest rate / 12 = 6% / 12 = 0.06 / 12 = 0.005
g = monthly growth rate of monthly benefits = Annual CPI / 12 = 3.2% / 12 = 0.032 / 12 = 0.00266666666666667
n = number of months = Number of years * Number of months in a year = 20 * 12 = 240
Substituting the values into equation (1), we have:
100,000 = (R / (0.005 - 0.00266666666666667)) * (1 - ((1 + 0.00266666666666667) / (1 + 0.005))^240)
100,000 = (R / 0.00233333333333333) * 0.427568259925511
100,000 / 0.427568259925511 = R / 0.00233333333333333
233,880.784362762 = R / 0.00233333333333333
R = 233,880.784362762 * 0.00233333333333333
R = 545.721830179777
Rounding to 2 decimal places, we have:
R = 545.72
Therefore, R is 545.72.
Catherine inherited a lot of money and decided to start a business. She has purchased a building, bought tools and machinery, and hired employees. Her main problem is that she has no business experience, no ideas, and no experience creating products. Which category of economic resource does she require?
A.
labor
B.
entrepreneurial ability
C.
land
D.
capital
Answers
Because she is new at business and is just starting out. Her new business has originated from her self therefore making her self-employed. Entrepreneur
Catherine inherited a lot of money and decided to start a business. She has purchased a building, bought tools and machinery, and hired employees. Her main problem is that she has no business experience, no ideas, and no experience creating products. The category of economic resource she requires is Entrepreneurial ability.
What is Entrepreneurship?
The process in which a person decides to start a new business or venture with a unique idea is called Entrepreneurship. The person who generates the idea and starts the business is known as Entrepreneur.
Characteristics of Entrepreneur:InnovationPassionSelf ConfidenceCreativityLeadershipRisk TakingDecision makingCommunicationHence option B is the correct answer,
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The advantage of having many potential suppliers is their willingness to A. provide technical expertise. B. participate in JIT. C. provide innovations. D. offer lower prices in the short term.
Answers
Answer:
d
Explanation:
the more the suppliers the more the competition would be among suppliers to gain customers. As a result, they would offer lower prices in the short run to customers to gain them.
In the long run, suppliers would leave the oversaturated industry and equilibrium would be restored.
The LFH corporation makes and sells a single product, product t. each unit of product t requires 1.5 direct labor-hours at a rate of 10.50 per direct labor hour the company has budgeted to produce 28,000 units of Product T in June. The finished goods inventories on June 1 and June 30 were budgeted at 800 and 600 units, respectively. Budgeted direct labor costs for June would be:_____.
a. $294,000.
b. $441,000.
c. $444,150.
d. $437,850.
Answers
Answer:
b. $441,000
Explanation:
Calculation for Budgeted direct labor cost
Using this formula
Budgeted direct labor cost= Budgeted production * hours per unit * rate per hour
Let plug in the formula
Budgeted direct labor cost= 28,000 * 1.5 * 10.50
Budgeted direct labor cost= 441,000
Therefore the Budgeted direct labor costs for June would be 441,000
A good time to find a bargain on a swimsuit is at at
Answers
Answer: mid-season sale
Explanation:
5. Destiny is asked if she wants to open a Macy's credit card on the spot when she is checking out.
Macys is influencing which part of demand by this offer?
A. desire
B. ability to pay
C. willingness to pay
D.
none of the above
Answers
Please match term with the correct definition.
The difference between the amount the government collects and how much it spends is known as the:_______
When the preceding term is combined with all of the privately held savings from across the country, it is known as the:__________
If the government spends more money than it takes in through taxes, it will experience a:_________
a. Budget surplus
b. National savings
c. Capital inflow
d. Budget deficit
e. Budget balance
Answers
Answer:
Budget balance, National savings, Budget deficit
Explanation:
The difference between the amount the government collects and how much it spends is known as the Budget balance.
When the preceding term is combined with all of the privately held savings from across the country, it is known as the National savings.
If the government spends more money than it takes in through taxes, it will experience a Budget deficit.
Jamie is considering leaving her current job, which pays $75,000 per year, to start a new company that develops applications for smartphones. Based on market research, she can sell about 50,000 units during the first year at a price of $4 per unit. With annual overhead costs and operating expenses amounting to $145,000. Jamie expects a profit margin of 20 percent. This margin is 5 percent larger than that of her largest competitor, Apps. Inc.
a. If Jamie decides to embark on her new venture, What will her accounting cost be during the first year of operation? Her implicit costs? Her opportunity costs?
Accounting costs: $_____
Implicit costs: $_____
Opportunity costs: $_____
b. Suppose that Jamie's estimated selling price is lower than originally projected during the first year. How much revenue would she need in order to earn positive accounting profits? Positive economic profits?
Revenue needed to earn positive accounting profits: $______
Revenue needed to earn positive economic profits:
Answers
Answer:
Follows are the solution to the given points:
Explanation:
For point A:
Cost with accounting=The actual manufacturing expenditures or spendings that appear on expensive sports or record of a company= [tex]\$ 145,000[/tex]
[tex]\text{Costs = gross pay} = 50000 \times 4 - 1.2 \times1,45,000 = 26000\\\\{ total \ cost = 120 \% \ of\ 145,000}[/tex]
Cost opportunity=75,000
Total revenue required besides positive accounting benefits=cost of accounting =145000
Income to create positive economic benefits=cost of accounts + implied cost
[tex]= 145000+26000=171000[/tex]
For point B:
Income required to make positive profit in accounts = 145,000 more than the accounting costs
Revenue necessary to earn positive profit = 220,000 more than opportunity cost
Carmen Camry operates a consulting firm called Help Today, which began operations on August 1. On August 31, the company's records show the following accounts and amounts for the month of August.
Cash $ 25,420 C. Camry,
Withdrawals $6,070
Accounts receivable 22,430
Consulting fees earned 27,070
Office supplies 5,330
Rent expense 9,630
Land 44,070
Salaries expense 5,670
Office equipment 20,080
Telephone expense 950
Accounts payable 10,550
Miscellaneous expenses 570
Use the above information to prepare an August statement of owner's equity for Help Today. The owner's capital account balance at July 31 was $0, and the owner invested $102,600 cash in the company on August 1.
Answers
Answer:
See below
Explanation:
Equity is calculated as
= Assets[ Fixed + Current] - Liabilities
= [$25,420 + $22,430 + $44,070 + $20,080] - [ $6,070 + $10,550]
= $112,000 - $16,620
= $95,380
Domingo Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 1,100 units. The costs and percentage completion of these units in beginning inventory were:
Cost Percent Complete
Materials costs $ 6,200 50%
Conversion costs $ 2,400 20%
A total of 7,500 units were started and 6,800 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month:
Cost
Materials costs $ 159,400
Conversion costs $ 121,100
The ending inventory was 85% complete with respect to materials and 75% complete with respect to conversion costs.
The cost per equivalent unit for materials for the month in the first processing department is closest to:______.
a. $18.82
b. $18.57
c. $18.05
d. $19.88
Answers
Answer:
Domingo Corporation
The cost per equivalent unit for materials for the month in the first processing department is closest to:______.
d. $19.88
Explanation:
a) Data and Calculations:
Beginning inventory = 1,100
Cost Percent Complete
Materials costs $ 6,200 50%
Conversion costs $ 2,400 20%
Units Materials Conversion
Work in process, beginning 1,100 50% 20%
Started into production 7,500
Completed and transferred out 6,800 100% 100%
Work in process, ending 1,800 85% 75%
Cost of production:
Materials Conversion
Work in process, beginning $6,200 $2,400
Cost added during June $159,400 $121,100
Total cost of production $165,600 $123,500
Equivalent units of production:
Units Materials Conversion
Completed and transferred out 6,800 6,800 (100%) 6,800 (100%)
Work in process, ending 1,800 1,530 (85%) 1,350 (75%)
Total equivalent units 8,330 8,150
Cost per equivalent unit:
Materials Conversion
Total cost of production $165,600 $123,500
Total equivalent units 8,330 8,150
Cost per equivalent unit $19.88 $15.15
On January 1, Year 1, a contractor began work on a $3.2 million construction contract that is expected to be completed in 3 years. The contractor concludes that it is appropriate to recognize revenue over time using the input method based on costs incurred (cost-to-cost method). At the inception date, the estimated cost of construction was $2.4 million. The following data relate to the actual and expected construction costs:
Year 1 Year 2 Year 3
Costs incurred $720,000 $1,170,000 $1,110,000
Expected future costs $1,680,000 $810,000 $0
For this long-term construction contract, the contractor needs to calculate the estimated dollar values of the revenue and gross profit (loss) to be recognized each year. Complete the contractor's long-term construction contract using the information above. Write the appropriate amounts in the associated cells. Indicate losses by using a leading minus (-) sign. Round all amounts to the nearest dollar. If no entry is necessary, enter a zero (0).
Revenue Gross profit (loss)
Year 1
Year 2
Answers
Answer:
Revenue Costs Incurred Gross profit (loss)
Year 1 $768,000 $720,000 $48,000
Year 2 $1,248,000 $1,170,000 78,000
Year 3 $1,184,000 $1,110,000 74,000
Total $3,200,000 $3,000,000 $200,000
Explanation:
a) Data and Calculations:
Construction contract = $3.2 million
Completion period = 3 years
Estimated cost of construction = $2.4 million
Construction costs:
Year 1 Year 2 Year 3 Total Costs
Costs incurred $720,000 $1,170,000 $1,110,000 $3 million
% of annual costs to total 24% 39% 37% 100%
Expected future costs $1,680,000 $810,000 $0
Annual Revenue $768,000 $1,248,000 $1,184,000 $3.2 million
Revenue Calculation:
Costs incurred/Total costs * $3,200,000
Revenue Costs Incurred Gross profit (loss)
Year 1 $768,000 $720,000 $48,000
Year 2 $1,248,000 $1,170,000 78,000
Year 3 $1,184,000 $1,110,000 74,000
Total $3,200,000 $3,000,000 $200,000
b) The revenue for each year is based on the costs incurred, as determined by the contractor.
Rushing River Boats has the following data in its Social Security tax payable General Ledger account:
Social Security tax payable ACCOUNT NO. 221
DATE DESCRIPTION POST REF. DEBIT CREDIT DEBIT CREDIT BALANCE
Jan 31 J4 420 1,620
Feb 15 J5
It is a monthly schedule depositor. What entry should appear in the General Ledger to reflect the tax remittance on February 15?
a) Credit $420
b) Debit $420
c) Credit $1,620
d) Debit $1,620
Answers
Answer:
Is debit 420
Explanation:
Noe No sque poner mas porque me pide que escriba mas
The debt ratio is calculated by dividing total assets by total liabilities.
True
OR
False
Answers
Answer:
False
Explanation:
It is meant to Total liabilities/Total assets
The debt ratio could not be calculated by dividing total assets by total liabilities.
The following information related to the debt ratio is
The debt ratio should be calculated by dividing the total debts from total assets.In this, the total debts should be on the numerator side and the total asset should be on the denominator side. The ratio should always be on time.Therefore we can conclude that the given statement is false.
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Suppose that you have been given a summer job as an intern at Issac Aircams, a company that manufactures sophisticated spy cameras for remote-controlled military reconnaissance aircraft. The company, which is privately owned, has approached a bank for a loan to help finance its growth. The bank requires financial statements before approving the loan.
Required:
Classify each cost listed below as either a product cost or a period cost for the purpose of preparing financial statements for the bank.
1. Depreciation on salespersonsâ cars.
2. Rent on equipment used in the factory.
3. Lubricants used for machine maintenance.
4. Salaries of personnel who work in the finished goods warehouse.
5. Soap and paper towels used by factory workers at the end of a shift.
6. Factory supervisorsâ salaries.
7. Heat, water, and power consumed in the factory.
8. Materials used for boxing products for shipment overseas. (Units are not normally boxed.)
9. Advertising costs.
10. Workersâ compensation insurance for factory employees.
11. Depreciation on chairs and tables in the factory lunchroom.
12. The wages of the receptionist in the administrative offices.
13. Cost of leasing the corporate jet used by the companyâs executives.
14. The cost of renting rooms at a Florida resort for the annual sales conference.
15. The cost of packaging the companyâs product.
Answers
Answer:
Product cost are cost incurred in the manufacturing of a product while period cost are cost incurred for a period irrespective of the manufacturing activity.
1. Depreciation on salespersons cars.
Classification: Period cost
2. Rent on equipment used in the factory.
Classification: Product cost
3. Lubricants used for machine maintenance.
Classification: Product cost
4. Salaries of personnel who work in the finished goods warehouse.
Classification: Period cost
5. Soap and paper towels used by factory workers at the end of a shift.
Classification: Product cost
6. Factory supervisors salaries.
Classification: Product cost
7. Heat, water, and power consumed in the factory.
Classification: Product cost
8. Materials used for boxing products for shipment overseas. (Units are not normally boxed.)
Classification: Period cost
9. Advertising costs.
Classification: Period cost
10. Workers compensation insurance for factory employees.
Classification: Product cost
11. Depreciation on chairs and tables in the factory lunchroom.
Classification: Product cost
12. The wages of the receptionist in the administrative offices.
Classification: Period cost
13. Cost of leasing the corporate jet used by the company as executives.
Classification: Period cost
14. The cost of renting rooms at a Florida resort for the annual sales conference.
Classification: Period cost
15. The cost of packaging the company as product.
Classification: Product cost
When overhead is underapplied: A. Cost of Goods Sold is understated B. Work in Process inventory is overstated C. Finished Goods inventory is overstated D. Gross Profit is understated
Answers
Answer:
A
Explanation:
Overhead cost is the cost involved in the daily operations of a business. It is the cost that is not directly attached to the production of goods and services. e.g. administrative costs
Overhead is underapplied when the amount budgeted for as overhead is less than the actual overhead incurred. This leads to cost of goods sold been understated. To correct for this, cost of goods sold should be adjusted retroactively. This reduces the amount of net income reported
Distributors of cigarettes earn some monopoly profits in their local markets but see them slowly erode as substitutes enter the market. Suppose Nebraska has scheduled a vote on the legalization of marijuana. Additionally, suppose that marijuana and cigarettes are substitutes and that the legalization of marijuana would lead to a decrease in the price of marijuana.
Given the relationship between marijuana and cigarettes, the legalization of marijuana would lead to_______in demand for cigarettes. Thus, distributors of cigarettes would likely____the legalization of marijuana.
Answers
Answer:
The question is incomplete, the options are missing. The options are the following:
For the first gap: increase/decrease.
For the second gap: support/oppose.
And the correct answers are: Decrease/oppose.
Explanation:
To begin with, in the microeconomics theory when it comes to concept of substitutes it refers to the relationship that exists between two goods that are similar in characteristics and therefore that they are probably to substitue one for the other in the market in the case when one's price is higher that the other. That is why that in this case presented, the legalization of the marijuana would obviously lead to a decrease in the demand of the cigarattes due to the fact that now the consumers will start to consume more of the other, letting the cigarette fall. And therefore that the distributors of cigarattes would likely be oppose to the legalization because it will affect their business.
Referring to the information below, indicate the income statement and balance sheet impacts in each case a through e if Walker Corp. failed to record the necessary adjusting entries.
a. Interest expense of $120 for the month of December 2020 will be paid in January 2021.
b. Unbilled revenue for services performed in December 2020 is $400. The company will prepare and forward invoices for this amount in January 2021 to customers with a 30-day collection term.
c. $1,200 cash was received in advance on November 30, 2020, for future services to be performed by Walker Corp. and was recorded as deferred service revenue. The services were performed on December 20, 2020.
d. Walker Corp. acquired a two-year insurance policy on January 1, 2020, for $3,840 cash that was recorded initially as prepaid insurance.
e. Depreciation on equipment is $4,800 for 2020.
Answers
Answer:
a.
Income Statement : Expenses - Interest Expense, will understated and Income overstated by $120
Balance Sheet : Liabilities - Interest Payable, will be understated by $120
b.
Income Statement : Income - Revenue Earned, will understated and Income understated by $400
Balance Sheet : Assets - Accounts Receivables, will be understated by $400
c.
Income Statement : Income - Revenue Earned , will be
understated and Income understated by $1,200
Balance Sheet : Liabilities - Deferred Service Revenue, will be overstated by $1,200
d.
Income Statement : Expenses - Insurance Expense, will be understated and Income overstated by $1,920
Balance Sheet : Assets - Prepaid, will be overstated by $1,920
e.
Income Statement : Expenses - Depreciation Expense, will be understated and Income overstated by $4,800
Balance Sheet : Assets - Equipment, will be understated by $4,800
Explanation:
So, the catch with this question is to make sure you understand what the adjusting entry should have been in the first place.
After that we then be able to tell the effect is that adjusting entry is not recorded.
Here are the adjusting entries should have been recorded :
a.
Debit : Interest Expense $120
Credit : Interest Payable $120
b.
Debit : Accounts Receivable $400
Credit : Revenue Earned $400
c.
Debit : Deferred Service Revenue $1,200
Credit : Revenue Earned $1,200
d.
Debit : Insurance Expense $1,920
Credit : Prepaid Insurance $1,920
e.
Debit : Depreciation Expense $4,800
Credit : Accumulated Depreciation $4,800
Then, see the effect discussed above.
The name preferred stock is in reference to the fact that:_____.
a. it is a type of corporate debt.
b. it is treated like debt for tax purposes.
c. preferred dividends must be paid in full before any additional interest may be paid.
d. preferred dividends must be paid in full before any common stock dividends can be paid.
e. fixed income traders prefer it to bonds.
Answers
Answer: d. preferred dividends must be paid in full before any common stock dividends can be paid.
Explanation:
Preferred stocks will see their dividends paid before those of common shares. Indeed if the company was to liquidated, preferred shareholders get preference over common shareholders.
Preferred dividends have preference over common dividends and so their name reflects this by being called ''preferred'' shares. Some classes of preferred shares such as cumulative shares have an even greater amount of preference as their dividends will always be paid even if it takes years to do so.
PROJECT FOCUS: One day, a sophisticated business man walks into the cafe and asks to speak to the owner. He introduces himself as Brawner Smith and says that he would like to talk to you in private. Brawner has just opened a local record store down the street and would like to purchase your customer lists from music events. Brawner is offering you a rather large sum of money for the e-mail addresses and phone numbers for all of the customers who have attended concerts at the cafe over the past five years. What do you do
Answers
Answer:
Explanation:
Solution
At first, we will determine that whether we have communicated to our customers in a past that we will keep their information confidential and never be sold to any other person or business for any future marketing. If we have made such communication, then we should take information confidential and do not give to others.Similarly, if there is no confidentiality communication made in a past, then we can put an offer towards Brawner. We offer him that instead of providing phone numbers and email to him, pay tome, we will email and call the customers and let them know about Brawner and local record store. So in case any customers want something, they will contact directly to you (Brawner) or his shop.
If there is a communication to customers or from customers that the data should be kept private and not shared with anyone, the café owner should not share it.
Decision making based theory:It's crucial to know how the data will be utilised and whether or not it will be shared with the owner of the record store.
Customers should be consulted before the data is shared, and the store owner's details and interest in them should be disclosed.
It makes good commercial sense to provide the data in exchange for money because the café owner has invested a significant amount of time, effort, and money in gathering the information.
An agreement can be reached with the store owner for the sharing of data with other businesses, limiting data usage and avoiding rivalry.
Find out more information about 'Agreement'.
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Tirri Corporation has provided the following information: Cost per UnitCost per PeriodDirect materials$ 7.05 Direct labor$ 4.20 Variable manufacturing overhead$ 1.55 Fixed manufacturing overhead $ 23,500Sales commissions$ 1.15 Variable administrative expense$ 0.40 Fixed selling and administrative expense $ 7,900 If the selling price is $27.20 per unit, the contribution margin per unit sold is closest to:
Answers
Answer:
Contribution margin per unit= $12.85
Explanation:
Giving the following information:
Direct materials$ 7.05
Direct labor$ 4.20
Variable manufacturing overhead$ 1.55
Sales commissions $ 1.15
Variable administrative expense$ 0.40
To calculate the contribution margin, we need to use the following formula:
Contribution margin per unit= selling price - total unitary variable cost
Contribution margin per unit= 27.2 - (7.05 + 4.2 + 1.55 + 1.15 + 0.4)
Contribution margin per unit= $12.85
Hi, please help me
A garage band wants to hold a concert. The expected crowd has a Normal distribution with the mean of 3000 and standard deviation of 200. The average expenditure on concessions is Uniformly distributed with a minimum of $10 and maximum of 25 dollars. Tickets sell for $10 each, and the band’s profit is 80% of the gate (ticket sale) and concession sales, minus a fixed cost of $12,000. Use the provided spreadsheet model and conduct a Monte Carlo simulation with 500 trials to analyze the band profit.
In your analysis,
a. find the minimum, maximum, average, and standard deviation for band profit.
b. create the frequency distribution (using FREQUENCY function) and the histogram for
band profit.
c. Find the probability that band profit will be greater than $62000.
Answers
A corporation sold 14,000 shares of its $10 par value common stock at a cash price of $13 per share. The entry to record this transaction would include: A credit to Paid-in Capital in Excess of Par Value, Common Stock for $42,000. A debit to Cash for $140,000. A credit to Common Stock for $182,000. A credit to Cash for $182,000.
Answers
Answer:
B) A credit to common stock for $ 140,000
Explanation:
Journal Entry will include:
Date Journal Entry Debit Credit
Cash/Bank A/C $182,000
(14,000 shares*$13)
To Common capital A/C $140,000
To Contributed capital in excess $42,000
of par value A/C
AssetsLiabilities Net Worth Reserves$60Checkable Deposits$150 Loans100Stock Shares135 Securities25 Property100 Refer to the accompanying consolidated balance sheet for the commercial banking system. Assume the required reserve ratio is 12 percent. All figures are in billions of dollars. The maximum amount by which the commercial banking system can expand the supply of money by lending is
Answers
Answer:
ngl is has been a you have a chance of being able and then you might be a little while not to mention the other room
Explanation:
which means alot
Avery Corporation's target capital structure is 35% debt, 10% preferred, and 55% common equity. The interest rate on new debt is 6.50%, the yield on the preferred is 6.00%, the cost of common from reinvested earnings is 11.25%, and the tax rate is 25%. The firm will not be issuing any new common stock. What is Avery's WACC
Answers
Answer:
8.15%
Explanation:
The computation of the weighted average cost of capital as follows;
= After Cost of debt × weightage of debt + cost of preferred stock × weight of preferred stock + cost of common equity × weight of equity
= 6.50% × (1 - 0.40) × 35 ÷ 100 + 6% × 10 ÷ 100 + 11.25% × 55 ÷ 100
= 1.37% + 0.60% + 6.19%
= 8.15%
Let x1 represent a typical good (i.e., consumers prefer more of good x1 to less). Let x2 represent a second good in a two-good world. Both goods have continuous indifference curves and income, m, is greater than $0. Under which of the following situations would consumers spend all of their income on just x1?
a. X1 and x2 are perfect complements.
b. The consumer has Cobb-Douglas preferences, and p2 > p1.
c. xi and x2 are perfect substitutes at a 1-to-1 ratio, and p2 > p1.
d. x2 is a bad, meaning less is preferred to more.
e. x2 is a neutral good.
Answers
Answer:
d. x2 is a bad, meaning less is preferred to more.
Explanation:
Consumer will spend all of his income on good x1 if good x2 is a bad. When x2 is not preferred by the consumer, he will spend all his income on other available good. The goods available for a consumer might be of different types but the preference is based on the goods.