Answer:
the yearly depreciation expense is $5,500
Explanation:
The computation of the yearly depreciation expense using the straight line method is as follows;
= (Purchase cost - salvage value) ÷ (estimated useful life)
= ($24,000 + $800 + $1,200 - $4,000) ÷ (4 years)
= ($26,000 - $4,000) ÷ (4 years)
= $22,000 ÷ 4 years
= $5,500
hence, the yearly depreciation expense is $5,500
There may be a maximum balance requirement for a savings account.
True
False
Answer:
true
Explanation:
For example, if a bank account has a $100 minimum balance requirement, you want to make sure that you don't let your balance fall to $99.99 or less.
Sony introduces a new compact music player to compete with Apple's iPod that carries a two-year warranty against manufacturer's defects. Based on industry experience with similar product introductions, warranty costs are expected to be approximately 3% of sales. By the end of the first year of selling the product, total sales are $29.4 million, and actual warranty expenditures are $140,000. What amount (if any) should Sony report as a liability at the end of the year
Answer:
the warranty liability is $742,000.
Explanation:
The computation of the warranty liability is as follows;
= Expected warranty liability - actual warranty expenditure
= ($29.4 million × 3%) - $140,000
= $882,000 - $140,000
= $742,000
Hence, the warranty liability is $742,000.
It could be come by applying the above formula so that the accurate amount could arrive
The following information is taken from Reagan Company's December 31 balance sheet: Cash and cash equivalents $ 10,319 Accounts receivable 79,922 Merchandise inventories 69,862 Prepaid expenses 6,000 Accounts payable $ 16,850 Notes payable 96,138 Other current liabilities 11,400 If net credit sales for the current year were $602,000, the firm's days' sales uncollected for the year is: (Use 365 days a year.)
Answer:
49 days
Explanation:
Account receivable turnover ratio = Net credit sales / Accounts receivable
Account receivable turnover ratio = $602,000 / $79,922
Account receivable turnover ratio = 7.53
Average collection period = 365/7.53
Average collection period = 48.47277556440903
Average collection period = 49
Thus, firm’s sales uncollected for year is 49 days.
Q1. Big Money Monster is a business school. The school bases its budgets on two measures of activity: number of students and number of courses. The school uses the following data in its budgeting: Fixed cost per month Variable cost per student Variable cost per course Faculty wages $4,000 $0 $20 Course supplies $1,000 $10 $50 Administrative expenses $2,000 $20 $30 In July, the school budgeted for 300 students and 15 courses. Actual results for the month appear below: Number of Students 280 Number of Courses 18 Faculty wages $4,200 Course supplies $4,800 Administrative expenses $8,300 What is the spending variance for course supplies (choose the closest answer)
Answer:
Big Money Monster
The spending variance for course supplies is:
$50 Unfavorable.
Explanation:
a) Data and Calculations:
Fixed cost Variable cost Variable cost Total
per month per student per course
Faculty wages $4,000 $0 $20
Course supplies $1,000 $10 $50
Administrative expenses $2,000 $20 $30
Budgeted number of students = 300
Budgeted number of courses = 15
Actual number of students = 280
Actual number of courses = 18
Actual Faculty wages = $4,200
Actual Course supplies = $4,800
Budgeted Costs:
Fixed cost Variable cost Variable cost Total
per month per student per course
Faculty wages $4,000 $0 $20 $4,300
Course supplies $1,000 $10 $50 4,750
Administrative expenses $2,000 $20 $30 8,450
Budgeted costs:
Faculty wages = $4,000 + $0 + $20 * 15 = $4,300
Course supplies = $1,000 + $10 * 300 + $50 * 15 = $4,750
Administrative expenses = $2,000 + $20 * 300 + $30 * 15 = $8,450
Budgeted Cost of Course Supplies = $4,750
Actual Cost of Course Supplies = 4,800
Spending variance for Course Supplies = 50 Unfavorable
At the beginning of December, ABC Company had $1,500 in supplies on hand. During the month, supplies purchased amounted to $2,900, buy by the end of the month the supplies balance was only $2,200. What is the appropriate month-end adjusting entry
Answer and Explanation:
The adjusting entry is as follows:
Supplies expense Dr $2,200
To Supplies $2,200
(being the supplies expense is recorded)
Here the supplies expense is debited as it increased the expenses and credited the supplies as it decreased the assets
The computation is
= Opening supplies + purchased - closing supplies
= $1,500 + $2,900 - $2,200
= $2,200
Consider a Bertrand duopoly. Market demand is P(Q)=41-3Q, and each firm faces a marginal cost of $6 per unit. What is the sum of both firms' revenue in the Nash equilibrium? Enter a number only, no $ sign.
Answer:
$70.14
Explanation:
The Bertrand duopoly condition (Nash equilibrium condition) be: P =MC
Here, P = 41 - 3Q
P = MC
41 - 3Q = 6
3Q = 41-6
3Q = 35
Q = 35 / 3
Q = 11.6667
Q = 11.67
Total demand (Q) = Q1 + Q2 (Q1 = Firm 1 Output, Q2 = Firm 2 Output)
Q = Q1 + Q2
11.67 = Q1 + Q2
So price be: P = MC ==> P = 6
Sum of both firm revenue = (Price)*Total quantity)
= $6 * (Q)
= $6 * (Q1 + Q2)
= $6 * (11.69)
= $70.14
So therefore, the sum of both firms' revenue in the Nash equilibrium is 70.14
Do you think that the United States Federal Reserve has too much power and influence over our economy? Why or why not?
Bonita Clinic purchases land for $175900 cash. The clinic assumes $1700 in property taxes due on the land. The title and attorney fees totaled $900. The clinic has the land graded for $2000. What amount does Bonita Clinic record as the cost for the land
Answer:
$188,600
Explanation:
Cost for the land = Purchases Cost + Taxes + Attorney fee + Land graded cost
Cost for the land = 175,900 + 1,700 + 9000 + 2,000
Cost for the land = $188,600
So, the amount Bonita Clinic will record as the cost for the land is $188,600
The costs of organizing a corporation include legal fees, fees paid to the state of incorporation, fees paid to promoters, and the costs of meetings for organizing the promoters. These costs are said to benefit the corporation for the entity's entire life. These costs should be:_______
Answer:
expensed as incurred
Explanation:
In accrual method of accounting, it is known that revenues are known when earned and expenses are known when incurred.
Expenses are simply said to be amounts incurred to bring about or generate revenue for an organization or firm, they include cost of goods sold, operating expenses, interest, and taxes.companies has different types of expenses incurred e. g overhead expenses.
A firm should continue producing until A. average costs are at a minimum. B. the average cost when another unit is produced equals the average revenue obtainable from selling the extra unit. C. the cost of producing the output equals the revenues obtainable from selling the output. D. the cost of increasing output by one more unit equals the revenues obtainable from selling the extra unit.
Answer:
D. the cost of increasing output by one more unit equals the revenues obtainable from selling the extra unit.
Explanation:
The firm should continue to producing till the increasing cost output by one extra unit equivalent to the revenue received from selling the additional unit as we know that the marginal cost is equivalent to marginal revenue. In the case when the marginal revenue is more than the marginal cost so it would rise the production but if the case is opposite so the output would reduce
Therefore the option D is correct
A Japanese investor can earn a 1 percent annual interest rate in Japan or about 4.1 percent per year in the United States. If the spot exchange rate is 101 yen to the dollar, at what one-year forward rate would an investor be indifferent between the U.S. and Japanese investments? a. 95.99 b. 96.99 c. 97.99 d 98.99 e. 99.99 f. 100.99 g. 101.99 h. 102.99 yens per dollar
Answer: 97.99
Explanation:
The one-year forward rate that an investor would be indifferent between the U.S. and Japanese investments will be:
= Spot rate × (1 + Japanese rate / 1 + U.S rate)
= 101 × (1 + 1% / 1 + 4.1%)
= 101 × [(1 + 0.01) / (1 + 0.041)]
= 101 × (1.01/1.041)
= 101 × 0.9702209
= 97.99
Given the following production data, calculate the equivalent units of production. (Answers must be entered as numbers only without spaces, dollar signs, commas, decimals, etc. Example: 50000) Production Flow Percent Complete Units Materials Conversion Work in process, beginning inventory 200 55% 30% Units started this period 5,000 Total units: 5,200 Completed and transferred units this period 4,800 100% Work in process, ending inventory 400 40%
Answer:
Weighted Average Equivalent Units Materials 4960 Conversion 5200
Fifo Equivalent Units Materials 4850 Conversion 5140
Explanation:
Normally weighted average method is used when not specified.
Production Flow Percent Complete
Units Materials Conversion
WIP beginning inventory 200 55% 30%
Units started this period 5,000
Total units: 5,200
Completed and transferred 4,800 100%
Work IP, ending inventory 400 40%
Using Weighted Average method for Equivalent Units we add the completed units with the ending inventory
Particulars Units Materials Conversion
Completed 4800 4800 4800
+ WIP Ending 400 160 400
Equivalent Units 4960 5200
Materials EWIP = 400*40%= 160
Conversion EWIP= 400*100 %=400
If we use FIFO method then we deduct the beginning inventory from the weighted average method equivalent unit production
Particulars Units Materials Conversion
Completed 4800 4800 4800
+WIP Ending 400 160 400
- BWIP 200 110 60
Equivalent Units 4850 5140
Materials BWIP = 200*55%= 110
Conversion EWIP= 200*30%= 60
Question 1: Peking Duct Tape Company has outstanding a $1,000-face-value bond with a 14 percent coupon rate and 3 years remaining until final maturity. Interest payments are made semiannually. What value should you place on this bond if your nominal annual required rate of return is 14 percent?
Answer:
Price Value of bond = $1,000
Explanation:
Given:
Face value = $1,000
Coupon rate = 14% yearly
Semi-annual rate = 14 / 2 = 7%
Number of year = 3
Semi-annual year = 3 x 2 = 6
Computation:
pmt(Semi-annual) = (coupon rate x face value)/2
pmt(Semi-annual) = (14% x 1000)/2
pmt(Semi-annual) = 140/2
pmt(Semi-annual) = $70
By using PV formula
=PV(rate,nper,pmt,fv,type) , [Semi-annual]
=PV(7%,6,70,1000,0)
Price Value of bond = $1,000
The efficient market hypothesis has several forms. The weak form states that past price data is unrelated to future prices. prices reflect all public information. all information both public and private is immediately reflected in stock prices. none of these options are true.
Answer:
past price data is unrelated to future prices.
Explanation:
The efficient market hypothesis (EMH) is a theory of investment in which it proves that it is unattainable to strike the stock market.
Here there are 3 forms that is a weak one, semi-strong one and strong one
In the weak form it implies that there is an efficient market that represent the market information also the market rate of return is independent but the the rates that are in past have no impact on the future rates
therefore the first option is correct
Allowance for Doubtful Accounts has a credit balance of $463 at the end of the year (before adjustment), and bad debt expense is
estimated at 2% of sales. If credit sales are $552,500, the amount of the adjusting entry to record the estimated uncollectible accounts
receivable is
a. $11,050
b. $10,587
c. $11,513
d. $463
Answer:
I really need help can you guys please go to my page and answer them!:)
Explanation:
A share of stock gives the owner with other owners the right to pick the management of the company. does not promise a fixed annual payment. is a fractional ownership of the firm. all of the above.
Answer:
all of the above.
Explanation:
The share of the stock provides the following things like
a. Have the opportunity to pick the company management with the other owners
b. It does not provide the fixed annual payment it is variable annual payment
3. In addition to this, it has the fractional firm ownership
Based on the above things, the correct option is the last one
Hence, the same is to be considered
Which education and qualifications are most helpful for Revenue and Taxation careers? Check all that apply.
leadership skills
customer-service skills
adaptability and flexibility
integrity
math skills
foreign language skills
knowledge of finance laws
CORRECT ANSWERS:
Customer service skills
Integrity
Math skills
Knowlage of finance
Answer:
Customer service skills
Integrity
Math skills
Knowledge of finance
Explanation:
Answer:
1. Customer service skills 2. Integrity 3. Math skills
4. Knowledge of Finance
Explanation:
I got it right on edg
Company ABC provides a dependent care assistance flexible spending arrangement to its employees through a cafeteria plan. In addition, it provides occasional on-site dependent care to its employees at no cost. Emily, a single filing taxpayer and an employee of Company ABC, had $4,500 deducted from her pay for the dependent care flexible spending arrangement. In addition, Emily used the on-site dependent care several times. The fair market value of the on-site care was $700. Emily's Form W-2 should report $5,200 of dependent care assistance in Box 10. If all other conditions are met, what is the maximum amount excludable from gross income for the dependent care expenses Emily can report on her tax return
Answer:
Company ABC and Emily, a single filing taxpayer
The maximum amount excludable from Emily's gross income for the dependent care expenses, which Emily can report on her tax return is $3,000.
Explanation:
a) Data and Calculations for Emily:
Dependent care flexible spending arrangement deduction = $4,500
Fair market value of the on-site dependent care used = $700
Form W-2 reported dependent care assistance = $5,200
Maximum amount excludable from Emily's gross income for the dependent care expenses Emily can report on her tax return is $3,000.
b) According to the IRS records, Emily can exclude or deduct dependent care benefits provided by a dependent care benefit plan, an amount not exceeding $3,000 if one qualifying person was cared for or $6,000 if two or more qualifying persons were cared for. Since the number of persons cared for is not disclosed, it is assumed that Emily cared for only one qualifying person. Therefore, $3,000 is the maximum she is allowed to deduct.
You founded your own firm three years ago. You initially contributed $200,000 of your own money and in return you received 2 million shares of stock. Since then, you have sold an additional 1 million shares of stock to angel investors. You are now considering raising capital from a venture capital firm. This venture capital firm would invest $5 million and would receive 4 million newly issued shares in return. After the venture capitalist's investment, the post-money valuation of your shares is closest to
Answer:
$5 million
Explanation:
Calculation for the post-money valuation of your shares
First step is to calculate the total shares outstanding after the venture capitalist's investment:
Total shares = 2 million shares + 1 million shares + 4 million shares
Total shares = 7 million shares
Second step is to calculate the Amount paid by venture capitalist
Using this formula
Amount paid by venture capitalist = Total value / Number of shares purchased
Let plug in the formula
Amount paid by venture capitalist = $5 million / 4 million shares
Amount paid by venture capitalist = $1.25 per share
Last step is to calculate the post-money valuation
Using this formula
Post-money valuation = Amount paid by venture capitalist * Shares subscribed
Let plug in the formula
Post-money valuation = $1.25 * 4 million shares
Post-money valuation = $5 million
Therefore After the venture capitalist's investment, the post-money valuation of your shares is closest to$5 million
bear a coupon of 6 percent, payable semiannually. The bond matures in 20 years and has a $1,000 face value. Currently, the bond sells at $955. The yield to maturity (YTM) is
Answer:
6.4022%
Explanation:
The computation of the yield to maturity is as follows;
Here we applied the RATE formula
Given that
NPER = 20 × 2 = 40
PMT = $1,000 × 6% ÷ 2 = $30
PV = $955
FV = $1,000
The formula is shown below
= RATE(NPER;PMT;-PV;FV;TYPE)
The present value comes in negative
After applying the above formula, the yield to maturity is
= 3.2011% × 2
= 6.4022%
Suppose that the country of Libraria made a concerted effort to increase the educational level of its people. If this effort had no effect on the wages of its workers, one might consider this as evidence in support of a. the human-capital view of education. b. the signaling view of education. c. both the human-capital and the signaling view of education. d. neither the human-capital nor the signaling view of education.
Answer:
If this effort had no effect on the wages of its workers, one might consider this as evidence in support of:
d. neither the human-capital nor the signaling view of education.
Explanation:
The human capital view of education argues that education increases workers' productivity, which also affects some increase in workers' wages. The signaling view states that education passes a message about workers' various innate abilities to potential employers. This implies that the focus of the signaling view or theory is not the effect of education on the students but the message communicated in the labor market.
given quyens timeline below, which of the following events would prevent her from achieving her career goal on time as planned
Missing the deadline for vocational school applications would prevent her from achieving her career goal on time as planned. Since it will delay the process by one year. Therefore, A is the correct option.
What are vocational schools?Vocational schools are educational institutions in a country which either means secondary or post-secondary schools which provide vocational or career-related training which is required in a specific job or career field. This school attempts to make industry-ready professionals which are skilled and trained to perform the tasks of the industry in an efficient manner.
In present times, vocational training along with academic education is one of the most important tasks an individual should pursue. Trained and qualified professionals will work competitively which will in turn give a great output for the industries.
So missing the deadline for vocational school applications would prevent quyens from achieving her career goal of becoming a hairdresser on time. Therefore, A is the correct option.
To know more about vocational schools, visit the link below:
https://brainly.com/question/18235846
#SPJ2
Mountain View Resorts purchased equipment at the beginning of 2021 for $48,000. Residual value at the end of an estimated four-year service life is expected to be $8,700. The machine operated for 2,300 hours in the first year and the company expects the machine to operate for a total of 11,000 hours over its four-year life. Calculate depreciation expense for 2021, using each of the following depreciation methods: (1) straight-line, (2) double-declining-balance, and (3) activity-based.
Mountain View Resorts purchased equipment at the beginning of 2021 for $46,000. Residual value at the end of an estimated four- year service life is expected to be $6,100.
please mark as brainlist pleaseA manager wants to determine the number of containers to use for incoming parts for a kanban system to be installed next month. The process will have a usage rate of 71 pieces per hour. Because the process is new, the manager has assigned an inefficiency factor of .16. Each container holds 41 pieces and it takes an average of 50 minutes to complete a cycle. a-1. How many containers should be used
Answer:
the number of containers that should be used is 1.67 containers
Explanation:
The computation of the number of containers that should be used is as follows;
= Annual demand × time × (1 + inefficiency factor) ÷ holding pieces
= 71 × 0.83 × (1 + 0.16) ÷ 41
= 1.67 containers
Here The time is converted from minutes to hour i.e
= 50 minutes ÷ 60 minutes
= 0.83
Hence, the number of containers that should be used is 1.67 containers
During December, the production department of a process operations system completed and transferred to finished goods a total of 79,000 units of product. At the end of December, 14,000 additional units were in process in the production department and were 65% complete with respect to materials. The beginning inventory included materials cost of $58,800 and the production department incurred direct materials cost of $186,900 during December. Compute the direct materials cost per equivalent unit for the department using the weighted-average method.
Answer:
$2.81
Explanation
Completed and transferred (79,000 * 100%) 79,000
Ending Work in Process
Direct materials (14,000*60%) 8,400
Equivalent units 87,400
Costs of beginning inventory $58,800
Costs incurred this period $186,900
Total costs $245,700
Cost per equivalent unit = Total costs / Equivalent units
Cost per equivalent unit = $245,700 / 87,400
Cost per equivalent unit = 2.811212814645309
Cost per equivalent unit = $2.81
stock a has an expected return of 20%; stock b has an expected return of 5%, what is the ecpected return on a portfolio is comprised of 67% of stock a and 33% of stock b
Answer: 15.05%
Explanation:
Expected return is a weighted average of the individual returns of the composite stocks;
= (weight of A * return on A) + (weight on B * return on B)
= (67% * 20%) + (33% * 5%)
= 15.05%
When the overall market experiences a decline of 8%, an investor with a portfolio of defensive stocks will probably experience:
Answer:
losses greater than 8%
Explanation:
In a situation Where all the market experiences a reduction of 8% it means that investors that has a portfolio of defensive stocks will likely experience losses that are greater than 8% reason been that DEFENSIVE STOCK give continuous dividend.
Secondly DEFENSIVE STOCK earning are constant because they don't fluctuate despite the state of stock market.
One hundred identical mortgages are pooled together into a pass-through security. Each mortgage has a $150,000 principal, a fixed annual interest rate of 8 percent (paid monthly), and is fully amortized over a term of 30 years. What is the monthly payment on the mortgage pass-through
Answer:
The monthly payment on the mortgage pass-through is $110,064.69.
Explanation:
The monthly payment on the mortgage pass-through can be calculated using the formula for calculating the present value of an ordinary annuity as follows:
PV = M * ((1 - (1 / (1 + r))^n) / r) …………………………………. (1)
Where;
PV = Present value or principal of the pass-through = 100 * $150,000 = $15,000,000
P = Monthly payment on the mortgage pass-through = ?
r = monthly interest rate = fixed annual interest rate / 12 = 8% / 12 = 0.08 / 12 = 0.00666666666666667
n = number of months = 30 years * 12 months = 360
Substitute the values into equation (1) and solve for M, we have:
$15,000,000 = M * ((1 - (1 / (1 + 0.00666666666666667))^360) / 0.00666666666666667)
$15,000,000 = M * 136.283494133963
M = $15,000,000 / 136.283494133963
M = $110,064.69
Therefore, the monthly payment on the mortgage pass-through is $110,064.69.
The amount of the estimated average annual income for a proposed investment of $90,000 in a fixed asset, giving effect to depreciation (straight-line method), with a useful life of 4 years, no residual value, and an expected total income yield of $25,300, is
Answer: $6,325
Explanation:
Estimated average annual income = Total expected income/ Useful life of investment
= 25,300/ 4 years
= $6,325
After a company chooses the modules they want to implement, they must decide on _______options, which allow the customer to customize the modules to fit their business to some extent
Answer:
The correct option is (b) Configuration
Explanation:
The configuration is an arrangement of the parts to make it as a whole. Also it is used to customize the modules. It could be used so that proper working could be done
As in the question it is given that after selecting the modules for implementation they have to decide the configuration so that it permits the customer to do the customization with related to the modules that fit into their business
Therefore the correct option is (b) Configuration
