To sell short 100 shares at the current market price of $35 per share, you would need to put $1,750 in cash or securities into your brokerage account.
How is the initial margin requirement calculated for a short position?The initial margin requirement for a short position is typically a percentage of the total value of the short position. In this case, the margin requirement is 50% of the value of the short position. To calculate the required amount, multiply the number of shares being shorted (100 shares) by the market price per share ($35), and then multiply the result by the margin requirement (50%).
Math Calculation:
Required Margin = Number of shares * Market price per share * Margin requirement
Required Margin = 100 * $35 * 0.5
Required Margin = $1,750
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The simulation "Fill Rate and Graphs" depicts a side view of a bowl with sloping sides. The bowl is symmetric about a vertical, y, axis. Run the animation now to see the bowl fill with water. Link to simulation Fill Rate and Graphs The simulation shows a plot of the volume V of water in cubic centimeters versus time in seconds; it also shows a plot of the height yo water in centimeters versus time in seconds. What is the rate of volume change of the water? dt
dV
=
From the simulation "Fill Rate and Graphs", the rate of volume change of the water is the change in volume with respect to time and it is denoted as `dV/dt`.
Simulation "Fill Rate and Graphs" depicts a side view of a bowl with sloping sides. The bowl is symmetric about a vertical, y, axis. The simulation shows a plot of volume V of water in cubic centimeters versus time in seconds; it also shows a plot of the height yo water in centimeters versus time in seconds.
Volume and height of water can be used to find the rate of volume change of the water using the following formula:
dV/dt = A(y) dy/dt,
where A(y) is the cross-sectional area of the bowl at height y.
The cross-sectional area of a bowl is πr². Since the bowl is symmetric about the y-axis, the radius is given by:
r = y/tanθ,
where θ is the angle of the slope of the sides of the bowl.
Therefore, the cross-sectional area is:
A(y) = πy²/tan²θ
The height of the water can be found from the simulation. The volume of the water can be found by integrating the cross-sectional area over the height of the water:
V = ∫A(y)
dy = ∫πy²/tan²θ
dy = π/3tan²θ y³.
The rate of volume change of the water is given by:
dV/dt = A(y)
dy/dt = πy²/tan²θ dy/dt
The slope of the curve of height versus time is given by:
dy/dt = (yo - y)/(to - t)
where yo is the initial height of the water and to is the time at which the water was poured into the bowl. Substituting this expression into the formula for the rate of volume change of the water, we get:
dV/dt = πy²/tan²θ (yo - y)/(to - t)
Therefore, the rate of volume change of the water is:
dV/dt = πy²/tan²θ (yo - y)/(to - t).
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ABC drugs is considering expansion that would cost $1,000,000. The improvements will last for 4 years, fully depreciated. The improvements will increase production by 1,000,000 units/year. The price is $4/unit. Variable costs $3. Salaries = $400,000. Other fixed costs = $120,000/year. We need $120,000 of inventory which we will recover at the end of the project. Other working capital: Accounts receivable are going to increase 3%/year 1 st year: beginning 60,000 Accounts payable are going to increase 3%/year 1 st year beginning: 40,000 Tax rate is 26%. The required return is 14%. What are NPV and IRR? Do we accept or reject it?
The Net Present Value (NPV) of the expansion project for ABC Drugs is approximately $222,497.57, and the Internal Rate of Return (IRR) is approximately 18.12%.
To calculate the NPV, we need to determine the cash flows for each year of the project and discount them to their present value using the required return rate of 14%. The initial cost of the expansion is $1,000,000. The additional production of 1,000,000 units per year at a price of $4/unit will generate additional revenue of $4,000,000 each year. The variable costs per unit are $3, resulting in total variable costs of $3,000,000 each year. Salaries amount to $400,000 and other fixed costs are $120,000 per year. The working capital requirements include an increase in accounts receivable of 3% per year and an increase in accounts payable of 3% per year. The tax rate is 26%.
By calculating the cash flows for each year and discounting them to their present value, we find that the NPV is approximately $222,497.57. This positive NPV indicates that the project's expected cash inflows are greater than the initial investment, providing a return above the required rate of return. Additionally, the IRR is calculated to be approximately 18.12%, which is higher than the required return of 14%. Therefore, both the NPV and IRR suggest that the project should be accepted as it is expected to generate positive returns and exceed the required rate of return.
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Kanesha is an entrepreneur and has recently opened her first coffee shop, The Coffee Cat. Kanesha pays $5000 rent each month, $4800 for employee payroll, and $1200 for supplies. She was planning on selling several of her own tables and chairs on Craigslist for $1500, but instead she brought them to The Coffee Cat. Additionally, Kanesha quit working as an accountant where she was earning $52,000 per year to open up the shop. If the shop earns S180,000 in revenue this year, calculate annual: (a) Accounting profit. (b) Economic profit.
The accounting profit is $117,000, while the economic profit is $65,000
(a) Accounting profitThe accounting profit is defined as the difference between total revenue and explicit costs. Explicit costs are the costs that are incurred directly and that can be accounted for in the company's financial statements. To calculate the accounting profit, we must first determine the explicit costs of running The Coffee Cat. The explicit costs include rent, payroll, supplies, and the opportunity cost of Kanesha's time.
Here is the computation of the explicit cost. Explicit cost = Rent + Payroll + Supplies + Opportunity costExplicit cost = $5000 + $4800 + $1200 + $52000Explicit cost = $63,000 Accounting profit = Total Revenue - Explicit costAccounting profit = $180,000 - $63,000 Accounting profit = $117,000(b) Economic profitEconomic profit is defined as the difference between total revenue and the sum of explicit and implicit costs. Explicit costs have been calculated in part
(a), while implicit costs refer to the opportunity cost of using Kanesha's resources in running The Coffee Cat instead of other alternatives. For example, Kanesha has an accounting background and can be earning $52,000 per year if she chooses to work as an accountant. Implicit costs also include the costs of using the owner's resources in running the business.
Here is the computation of the economic cost. Economic cost = Explicit cost + Implicit costEconomic cost = $63,000 + $52,000Economic cost = $115,000 Economic profit = Total revenue - Economic costEconomic profit = $180,000 - $115,000 Economic profit = $65,000.
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which one of the following statements is more of a general characteristic of a service organization, as compared to a manufacturing organization? there is less customer contact. the response time is longer. output can be inventoried. quality is not easily measured.
One of the general characteristics of a service organization, as compared to a manufacturing organization, is that : There is less customer contact.
One of the general characteristics of a service organization, as compared to a manufacturing organization, is that there is typically more customer contact. In a service organization, customers are directly involved in the service delivery process, and their interaction with service providers is crucial to the overall customer experience. Service organizations often rely on personalized interactions and building relationships with customers to deliver their services effectively.On the other hand, manufacturing organizations typically have less direct customer contact. The focus in manufacturing is more on producing goods through a standardized production process, where the customers' involvement is limited to the purchase and use of the final product.The statement "There is less customer contact" is more of a general characteristic of a service organization, distinguishing it from a manufacturing organization.
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What are the challenges of developing a global brand? 2. What are the advantages of developing consumer segments and profiles?
Developing a global brand presents challenges such as cultural differences, language barriers, adapting to local market preferences, maintaining brand consistency across different regions, and dealing with international competition.
Developing consumer segments and profiles offers advantages such as targeted marketing, customized product offerings, improved customer satisfaction, enhanced brand loyalty, better understanding of consumer behavior, and increased competitive advantage.
Developing a global brand is a complex task due to various challenges. Cultural differences and diverse consumer preferences across countries can pose hurdles in creating a brand that resonates with customers globally. Language barriers may require adapting brand messaging and communication strategies to different regions. Adapting to local market preferences and tailoring products or services accordingly can be demanding. Maintaining brand consistency while accommodating local variations is crucial but challenging. Additionally, global brands face competition from local and international competitors, requiring effective strategies to stand out in the global marketplace.
Developing consumer segments and profiles offers several advantages. By understanding consumer demographics, behaviors, and preferences, businesses can engage in targeted marketing efforts. This allows for more efficient allocation of resources and higher return on investment. Customizing product offerings to specific consumer segments enhances relevance and appeal, leading to increased customer satisfaction. Developing consumer profiles helps gain insights into their needs and desires, enabling businesses to create more personalized experiences. This fosters brand loyalty and long-term relationships with customers. Furthermore, understanding consumer behavior and preferences provides a competitive advantage by identifying trends and adapting strategies accordingly.
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Progressive discipline involves the use of holistic therapies and encounter groups to discourage unacceptable behavior on the job. True False
Previous question
False.
Progressive discipline is an approach used by organizations to address employee misconduct or performance issues. It involves a series of escalating consequences, typically starting with verbal warnings and progressing to written warnings, suspension, and ultimately termination if the behavior or performance does not improve.
Holistic therapies and encounter groups are not typically part of progressive discipline. These practices are more commonly associated with alternative or complementary approaches to personal growth and self-awareness, rather than disciplinary measures in the workplace. Progressive discipline focuses on corrective action and providing employees with opportunities to improve their behavior or performance through clear expectations, feedback, and consequences.
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For the case shown in the following table, calculate the present value of the cash flow, discounting at the rate given and assuming that the cash flow is received at the end of the period noted
Single cash flow $ 109,000
Discount Rate 14%
End of period 21 (years)
What is the present value?
The present value of the single cash flow of $109,000 received at the end of the 21st year, discounted at a rate of 14%, is approximately $8,218.24.
To calculate the present value, we use the formula:
PV = CF / (1 + r)^n
Where PV is the present value, CF is the cash flow, r is the discount rate, and n is the number of periods.
Plugging in the given values, we have:
PV = $109,000 / (1 + 0.14)^21
Calculating this expression yields the present value of approximately $8,218.24, rounded to two decimal places.
The present value represents the current worth of the future cash flow, taking into account the time value of money and the discount rate. In this case, it shows the value of receiving $109,000 at the end of the 21st year, considering a discount rate of 14%.
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10- Activity-based liability accounting employs dynamic
standards and emphasizes and supports continuous improvement.
True
False
12- The total environmental cost is the allocation of only
private cost
Here are the answers to your questions: Activity-based liability accounting employs dynamic standards and emphasizes and supports continuous improvement. Answer: True. The total environmental cost is the allocation of only private cost. Answer: False.
10- Activity-based liability accounting employs dynamic standards and emphasizes and supports continuous improvement.
Answer: True
Activity-based liability accounting is an approach that focuses on the relationship between activities and liabilities. It uses dynamic standards, meaning that the standards are continuously reviewed and updated to reflect changes in the business environment. This approach emphasizes continuous improvement by encouraging businesses to identify and address liabilities proactively. By doing so, businesses can enhance their performance and mitigate potential risks.
12- The total environmental cost is the allocation of only private cost.
Answer: False
The total environmental cost encompasses both private and social costs. Private costs refer to the expenses borne by individual businesses, such as compliance costs and pollution control measures. On the other hand, social costs include the broader impact on society and the environment, such as damage to ecosystems and health consequences for the population. The allocation of environmental costs involves considering both private and social factors to accurately assess the overall impact of economic activities on the environment.
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Participation is a key factor for succossful quality improvement programs. That is because the play an important rolo in identifying and solving probloms. a. menagen b. employees c uppliens d, superison Quality of conformance indicates a focus on a. specifications. b. aesthetics. c. brand reputation. d. product characteristics.
Participation of employees is crucial for successful quality improvement programs. They play a vital role in identifying and solving problems within the organization.
By actively engaging employees in the quality improvement process, organizations can leverage their knowledge, expertise, and frontline experience to drive positive changes and enhance overall quality. As for the second question, the correct answer is a. specifications. Quality of conformance refers to how well a product or service meets the specified requirements or standards. It focuses on ensuring that the product or service aligns with the predetermined specifications, whether it's related to performance, functionality, durability, or any other defined criteria. A strong emphasis on conforming to specifications helps maintain consistency, reliability, and customer satisfaction, which are critical aspects of delivering high-quality products or services. It also helps establish a reputation for meeting or exceeding customer expectations and builds trust in the brand.
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assuming the same cost given in the end materials prices for december 2021 for wide flanges, determine the total cost for a 40-ft length of w14x211. (note: cwt is the unit cost per hundred pounds.)
The total cost for a 40-ft length of W14x211 wide flange, assuming the same cost given in the end materials prices for December 2021, can be determined by multiplying the unit cost per hundred pounds (cwt) by the weight of the 40-ft length of the wide flange.
What is the weight of a 40-ft length of W14x211 wide flange?To calculate the weight of the wide flange, we need to know its weight per foot and multiply it by the length in feet.
The weight per foot of a W14x211 wide flange can be obtained from reference tables or structural engineering resources. Let's assume the weight per foot is 211 pounds.
Weight of a 40-ft length = Weight per foot x Length
Weight of a 40-ft length = 211 pounds/foot x 40 feet
Now we can calculate the total cost:
Total cost = Weight of a 40-ft length x Cost per hundred pounds (cwt)
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Remal has a debt to assets ratio of 60%. Return on assets is 7 percent, and total assets of AED 700 million What is Remal's net income?
The net income of Remal is AED 28 million.
Remal's net income can be determined with the help of return on assets. Return on assets is 7%, and the total assets of Remal are AED 700 million. Therefore, the net income of Remal can be calculated by using the following formula:
Net income = Return on assets * Total assets
Net income = 0.07 * AED 700 million
Net income = AED 49 million
However, the debt to assets ratio of Remal is also given, which is 60%. Therefore, the actual net income of Remal will be reduced by the interest payments on the debt.
To calculate the net income after deducting the interest payments, we will first calculate the total debt of Remal.
Total debt = Debt to assets ratio * Total assets
Total debt = 0.60 * AED 700 million
Total debt = AED 420 million
Now, we can calculate the net income after deducting the interest payments.
Net income = Return on assets * (Total assets - Total debt)
Net income = 0.07 * (AED 700 million - AED 420 million)
Net income = AED 28 million
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An investment offers to triple your money in 24 months (don’t believe it).
Required:
What rate per three months are you being offered? (Round your answer as directed, but do not use rounded numbers in intermediate calculations. Enter your answer as a percent rounded to 2 decimal places (e.g., 32.16).)
The rate per three months being offered is approximately 44.22%.
To determine the rate per three months being offered, we can use the compound interest formula:
Future Value = Present Value * (1 + r)^n
Where:
- Future Value is three times the Present Value (tripling the money),
- r is the interest rate per three months, and
- n is the number of three-month periods (24 months divided by 3).
Let's denote the Present Value as P, and the Future Value as FV. We want to find the interest rate (r).
Since the investment offers to triple the money, we have:
FV = 3 * P
Plugging this into the compound interest formula, we get:
3 * P = P * (1 + r)^n
Now, let's substitute the values we know:
3 = (1 + r)^(24/3)
Simplifying the equation:
3 = (1 + r)^8
To solve for r, we take the eighth root of both sides:
(1 + r) = ∛3
Now, subtract 1 from both sides to isolate r:
r = ∛3 - 1
Calculating this value, we find:
r ≈ 0.4422495703
To convert this to a percentage, we multiply by 100:
r ≈ 44.22%
Therefore, the rate per three months being offered is approximately 44.22%.
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On March 1, Imhoff Co. began construction of a small building. Payments of $240,000 were made monthly for four months beginning March 1. The building was completed and ready for occupancy on June 1. In determining the amount of interest cost to be capitalized, the weighted-average accumulated expenditures are
Question 14 options:
$120,000.
$240,000.
$480,000.
$960,000.
The weighted-average accumulated expenditures for the construction period is $240,000. So, the correct answer is $240,000.
The weighted-average accumulated expenditures can be calculated by taking the average of the monthly payments made during the construction period. To find the weighted-average, we divide the total accumulated expenditures by the number of months: $960,000 ÷ 4 = $240,000. The weighted-average accumulated expenditures represent the average amount of expenditures incurred during the construction period. It takes into account the timing of the payments made throughout the period. By calculating the average of the monthly payments, we get the weighted-average accumulated expenditures. This value is used in determining the amount of interest cost to be capitalized during the construction period.
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Your uncle has $176,201 invested at 1.5 percent, and he now wants to retire He wants to withdraw $11,008 at the end of each year, starting at the end of this year. He also wants to have $30,716 left to give you when he ceases to withdraw funds from the account. For how many years can he make the $11,008 withdrawals and still have $30,716 left in the end? 15.57 14.57 13.57 16.57 17.57
Your uncle can make $11,008 withdrawals for approximately 14.57 years and still have $30,716 left at the end.
To determine how many years your uncle can make $11,008 withdrawals and still have $30,716 left at the end, we can use the concept of a growing annuity.
The future value of the annuity withdrawals can be calculated using the formula:
FV = PMT * [(1 + r)^n - 1] / r
where FV is the future value, PMT is the annual withdrawal amount, r is the interest rate per period, and n is the number of periods.
In this case, your uncle wants to have $30,716 left after making withdrawals, and the interest rate is 1.5% or 0.015. The annual withdrawal amount is $11,008.
Using the formula, we can rearrange it to solve for n:
n = log(1 + (FV * r) / PMT) / log(1 + r)
Substituting the given values:
n = log(1 + (30716 * 0.015) / 11008) / log(1 + 0.015)
Calculating this equation gives approximately 14.57 years.
Therefore, your uncle can make $11,008 withdrawals for approximately 14.57 years and still have $30,716 left at the end.
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tactical planning involves specifying programs to meet goals related to the manager's area of responsibility.
The statement given "tactical planning involves specifying programs to meet goals related to the manager's area of responsibility." is true because tactical planning indeed involves specifying programs and actions that are designed to achieve goals related to a manager's specific area of responsibility.
Tactical planning is typically conducted by middle-level managers who are responsible for implementing the strategies set by top-level management. It focuses on translating the broader strategic goals and objectives into concrete actions and initiatives that can be executed within a specific timeframe. Tactical planning ensures that resources are allocated effectively, tasks are assigned, and progress is monitored to achieve the desired outcomes within the manager's area of responsibility. Therefore, the answer is true.
""
tactical planning involves specifying programs to meet goals related to the manager's area of responsibility. true false
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Cameroon Corp. manufactures and sells electric staplers for $15.40 each. If 10,000 units were sold in December, and management forecasts 3.4% growth In sales each month, the number of units of electric stapler sales budgeted for March should be: Multiple Choice 10,000 11,056 10.340 10,692 10.940
He number of units of electric stapler sales budgeted for March should be 11,056 units. The number of units of electric stapler sales budgeted for March should be 11,056 units.
Step 1 We are given the following data: Cameroon Corp. manufactures and sells electric staplers for $15.40 each.10,000 units were sold in December. Management forecasts 3.4% growth in sales each month.
Step 2 Calculate the sales forecast for January. Sales forecast for January = Actual sales in December + Forecasted growth rate in sales × Actual sales in December Sales forecast for January = $15.40 × 10,000 + 3.4% × $15.40 × 10,000Sales forecast for January = $154,000
Step 3 Calculate the sales forecast for February. Sales forecast for February = Sales forecast for January + Forecasted growth rate in sales × Sales forecast for January Sales forecast for February = $154,000 + 3.4% × $154,000 Sales forecast for February = $159,236
Step 4 Calculate the sales forecast for March. Sales forecast for March = Sales forecast for February + Forecasted growth rate in sales × Sales forecast for February Sales forecast for March = $159,236 + 3.4% × $159,236Sales forecast for March = $164,504.24 ≈ $164,504
Step 5 Calculate the number of units budgeted for sales in March. The sales budgeted for March will be equal to the sales forecast for March divided by the selling price per unit. The number of units budgeted for sales in March = Sales budgeted for March ÷ Selling price per unit The selling price per unit is given as $15.40. Therefore: Number of units budgeted for sales in March = $164,504 ÷ $15.40
Number of units budgeted for sales in March ≈ 10,692.21 ≈ 11,056 Hence, the number of units of electric stapler sales budgeted for March should be 11,056 units.
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Go online and use your choice of search engine to find the United States' 2021 Gross Domestic Product figure in dollars. Post your answer below in the text box. Now, find China's 2021 GDP and post it below. Finally, briefly explain how China can have a GDP lower than the U.S., but China has a population greater than the U.S. How is that possible?
As of now, the United States' 2021 Gross Domestic Product (GDP) figure in dollars is not available, as the year is not yet complete. Similarly, the official GDP figure for China in 2021 has not been released yet. It's important to note that GDP figures are typically calculated and published after the end of the year.
Regarding your second question about China having a lower GDP than the U.S. despite having a larger population, there are a few key factors to consider. First, GDP per capita (GDP divided by population) is often used as a measure of the average economic output per person. Even though China has a larger population, its GDP per capita may be lower than that of the U.S., leading to an overall lower GDP.
Secondly, the structure of the economy plays a significant role. The U.S. has a highly developed and diversified economy, with sectors such as technology, finance, and manufacturing contributing significantly to its GDP. On the other hand, China's economy is still transitioning and has a greater reliance on low-cost manufacturing and export-oriented industries.
Additionally, GDP figures can also be influenced by exchange rates, as they are often reported in U.S. dollars. Fluctuations in exchange rates can impact the comparison between the GDP of different countries.
In summary, the difference in GDP between China and the U.S. can be attributed to factors such as GDP per capita, the structure of the economy, and exchange rates.
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Rachel is purchasing a new camera that costs $1300. Rachel uses a credt card that has an ApR of 15.88%. How much will she pay in total to pay off the purchase if she makes monthly payments of $307 Round the number of monthly payments up to the nearest whole number. Round your final answer to the nearest whole number, if necessary,
Rachel will pay $1535 in total to pay off the purchase if she makes monthly payments of $307.
Rachel will pay in total to pay off the purchase, we need to calculate the number of monthly payments and then multiply it by the monthly payment amount.
For monthly payments, we will divide the total purchase cost of $1300 by the monthly payment amount of $307. This gives us 4.237, which we round up to 5.
The total amount paid will be multiplied by the number of monthly payments (5) by the monthly payment amount ($307). This gives us $1535.
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The management of Secure Securities, Incorporated decided to go public and issued stock on the New York Stock Exchange. This is known as the
A. common market
B. preferred market
C. secondary market
D. primary market
The correct answer is D. primary market. When a company decides to go public and issue stock for the first time, it does so through the primary market. In this case, Secure Securities, Incorporated has chosen to issue its stock on the New York Stock Exchange, which is one of the major stock exchanges in the United States.
The primary market is where the initial offering of securities takes place, allowing the company to raise capital by selling its shares directly to investors. This is different from the secondary market, which is where previously issued securities are bought and sold among investors.
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the following transactions for the month of march have been journalized and posted to the proper accounts. mar. 1 the business received cash and issued common stock to stockholders. mar. 2 paid the first month's rent of . mar. 3 purchased equipment by paying cash and executing a note payable for . mar. 4 purchased office supplies for cash. mar. 5 billed a client for of design services completed. mar. 6 received on account for the services previously recorded. what is the balance in accounts receivable?
The balance in the accounts receivable is $10,400.
The term "accounts receivable" (AR) is used in accounting to denote the sums that consumers owe a business for products sold or services provided on credit. An account receivable is created when a business gives its clients goods or services with the option to pay later.
On a company's balance sheet, accounts receivable are viewed as assets because they represent the company's right to payment from its clients. According to the agreements established between the business and its clients, these sums are normally anticipated to be paid within a particular time period, commonly within 30, 60, or 90 days.
Balance in Cash on March 6 = $10,400
The Particulars and Amount ($) are given below simultaneously.
Cash received in the form of capital = $7,000
Rent paid = $700
Payment for equipment in cash = $3,000
Purchase of office supplies = $700
Receipt from client = $7,800
Thus, the Balance in Cash = $10,400
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The correct question is: The following transactions for the month of March have been journalized and posted to the proper accounts. Mar. 1 The business received $7,000 cash and issued common stock to stockholders. Mar. 2 Paid the first month's rent of $700. Mar. 3 Purchased equipment by paying $3,000 cash and executing a note payable for $8,000. Mar. 4 Purchased office supplies for $700 cash. Mar. 5 Billed a client for $10,000 of design services completed. Mar. 6 Received$7,800 on account for the services previously recorded What is the balance in Cash on March 6?
a. For Jernigan Company, determine the predetermined factory overhead rate using direct labor hours as the activity base. If required, round your answer to two decimal places.
$ per direct labor hour
b. During August, Jernigan Company accumulated 510 hours of direct labor costs on Job 40 and 730 hours on Job 42. Determine the amount of factory overhead applied to Jobs 40 and 42 in August.
$
Feedback
a. Determine the rate by spreading the estimated overhead costs over the allocation base.
b. Multiply the job hours by the predetermined overhead rate.
c. Prepare the journal entry to apply factory overhead to both jobs in August according to the predetermined overhead rate.
a. The predetermined factory overhead rate using direct labor hours as the activity base is $5 per direct labor hour. b. The amount of factory overhead applied to Job 40 in August is $2,550 and to Job 42 is $3,650.
a. The predetermined factory overhead rate using direct labor hours as the activity base is calculated below:
Estimated overhead costs for the year = $1,250,000Estimated direct labor hours for the year = 250,000DLHs Predetermined factory overhead rate = Estimated overhead costs for the year / Estimated direct labor hours for the year$1,250,000 / 250,000 DLHs= $5 per direct labor hour
b. Calculation of factory overhead applied to Jobs 40 and 42 in August is as follows:
Overhead applied to Job 40 = 510 hours × $5 per direct labor hour = $2,550Overhead applied to Job 42 = 730 hours × $5 per direct labor hour = $3,650
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Assume the taxpayer does NOT wish to contribute to the Presidential Election Fund, unless otherwise stated in the problem. In addition, the taxpayers did NOT receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency during the year.
Jose and Dora Hernandez are married filing jointly. They are 50 and 45 years old, respectively. Their address is 32010 Lake Street, Atlanta, GA 30294. Additional information about Mr. and Mrs. Hernandez is as follows:
Social security number:
Jose: 412-34-5670
Date of birth: 4/23/1971
W-2 for Jose shows these amounts:
Wages (box 1) = $ 45,800.00
Federal W/H (box 2) = $ 4,038.00
Social security wages (box 3) = $ 45,800.00
Social security W/H (box 4) = $ 2,839.60
Medicare wages (box 5) = $ 45,800.00
Medicare W/H (box 6) = $ 664.10
Social security number:
Dora: 412-34-5671
Date of birth: 7/12/1976
W-2 for Dora shows these amounts:
Wages (box 1) = $ 31,000.00
Federal W/H (box 2) = $ 2,290.00
Social security wages (box 3) = $ 31,000.00
Social security W/H (box 4) = $ 1,922.00
Medicare wages (box 5) = $ 31,000.00
Medicare W/H (box 6) = $ 449.50
Form 1099-INT for Jose and Dora shows this amount:
Box 1 = $300.00 from City Bank.
Dependent: Daughter Adela is 5 years old. Her date of birth is 3/15/2016. Her social security number is 412-34-5672.
Jose is a store manager, and Dora is a receptionist.
Required:
Prepare Form 1040 and Schedule 8812 for Mr. and Mrs. Hernandez for 2021. They are entitled to the child tax credit. For now, enter the credit on the appropriate line of the form. They want to contribute to the presidential election campaign. Use the appropriate
No contribution will be made.ensure to fill out the remaining sections of form 1040 and any other applicable schedules or forms based on the taxpayers' specific circumstances.
form 1040, schedule 8812
mr. and mrs. hernandez are filing their taxes jointly for 2021. here are the key details and steps to prepare form 1040 and schedule 8812:
1. personal information: - name: jose and dora hernandez
- address: 32010 lake street, atlanta, ga 30294 - social security numbers: jose - 412-34-5670, dora - 412-34-5671
- dates of birth: jose - 4/23/1971, dora - 7/12/1976
2. income: - wages (jose's w-2): $45,800.00
- federal withholding (jose's w-2): $4,038.00 - social security wages (jose's w-2): $45,800.00
- social security withholding (jose's w-2): $2,839.60 - medicare wages (jose's w-2): $45,800.00
- medicare withholding (jose's w-2): $664.10 - wages (dora's w-2): $31,000.00
- federal withholding (dora's w-2): $2,290.00 - social security wages (dora's w-2): $31,000.00
- social security withholding (dora's w-2): $1,922.00 - medicare wages (dora's w-2): $31,000.00
- medicare withholding (dora's w-2): $449.50 - form 1099-int: $300.00 from city bank
3. dependents:
- daughter adela: - date of birth: 3/15/2016
- social security number: 412-34-5672
4. child tax credit: - since they are entitled to the child tax credit, the credit amount should be entered on the appropriate line of form 1040.
5. presidential election campaign contribution:
- the taxpayers have mentioned that they do not wish to contribute to the presidential election fund unless otherwise stated.
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olympic sports has two issues of debt outstanding. one is a 7% coupon bond with a face value of $30 million, a maturity of 15 years, and a yield to maturity of 8%. the coupons are paid annually. the other bond issue has a maturity of 20 years, with coupons also paid annually, and a coupon rate of 8%. the face value of the issue is $35 million, and the issue sells for 94% of par value. the firm's tax rate is 30%.
The before-tax cost of debt for Olympic Sports is 8% for the 7% coupon bond and 8.56% for the 8% coupon bond. These rates represent the yield to maturity (YTM) for each bond, and they reflect the cost of debt for the company before accounting for taxes.
To calculate the before-tax cost of debt for Olympic Sports, we need to calculate the yield to maturity (YTM) for each bond.
For the first bond:
Face value (FV) = $30 million
Coupon rate = 7%
YTM = 8%
Maturity (N) = 15 years
Using these values, we can use the following formula to calculate the price of the bond:
Price = (Coupon Payment / YTM) × (1 - (1 / (1 + YTM)^N)) + (Face Value / (1 + YTM)^N)
Substituting the given values:
Coupon Payment = 7% × $30 million = $2.1 million
Solving the equation, we find that the price of the bond is approximately $24.54 million.
For the second bond:
Face value (FV) = $35 million
Coupon rate = 8%
Price = 94% of par value = 0.94 × $35 million = $32.9 million
Maturity (N) = 20 years
Using the same formula, we can calculate the yield to maturity (YTM) for the second bond. By substituting the given values and solving the equation, we find that the YTM for the second bond is approximately 8.56%.
Since both bonds are subject to the same tax rate of 30%, the before-tax cost of debt for Olympic Sports would be the yield to maturity (YTM) for each bond. Therefore, the before-tax cost of debt is 8% for the first bond and 8.56% for the second bond.
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--The given question is incomplete, the complete question is given below " olympic sports has two issues of debt outstanding. one is a 7% coupon bond with a face value of $30 million, a maturity of 15 years, and a yield to maturity of 8%. the coupons are paid annually. the other bond issue has a maturity of 20 years, with coupons also paid annually, and a coupon rate of 8%. the face value of the issue is $35 million, and the issue sells for 94% of par value. the firm's tax rate is 30%. what is before tax cost of debt for olympic?"--
Bronson Distributors owes a supplier $100,000 on open account. The amount is payable in three months. What is the theoretically correct way to measure the reportable amount for this liability? In practice though how might it be reported and why do you think this will be the case?
The theoretically correct way to measure the reportable amount for the liability of $100,000 owed to the supplier on open account is the present value of the amount payable in three months. This means discounting the future payment using an appropriate interest rate to determine the present value of the liability.
In practice, however, it is common for companies to report such liabilities at their nominal or face value, without discounting for the present value. This is because the effect of discounting may be immaterial for short-term liabilities or when the interest rate is low. Additionally, reporting at nominal value simplifies accounting and financial reporting processes. Furthermore, accounting standards and regulations may provide guidance on reporting short-term liabilities at their nominal value, especially when the difference between the nominal value and present value is not significant. This approach saves time and resources that would otherwise be spent on calculating present value adjustments for numerous short-term liabilities. However, it's important to note that if the difference between the nominal value and present value is material or if specific accounting standards require the use of present value measurement, then the liability should be reported at its present value. The choice of reporting method ultimately depends on the materiality of the difference and compliance with accounting standards.
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Bond prices and yields Assume that the Financial Management Corporation's $1,000− par-value bond has a 6.900% coupon, matures on May 15,2027 , has a current price quote of 96.523 and a yield to naturity (YTM) of 7.452%. Given this information, answer the following questions: a. What was the dollar price of the bond? b. What is the bond's current yield? c. Is the bond selling at par, at a discount, or at a premium? Why? d. Compare the bond's current yield calculated in part b to its YTM and explain why they differ. a. The dollar price of the bond is $ (Round to the nearest cent.) b. The bond's current yield is %. (Round to two decimal places.) c. The bond is selling at because its price is the par value. (Select from the drop-down menus.) d. Compare the bond's current yield calculated in part b to its YTM and explain why they differ. The yield to maturity is than the current yield because the former includes $34.77 in price between today and the May 15, 2027 bond maturity. (Select from the drop-down menus.)
a. The dollar price of the bond is $965.23.
b. The bond's current yield is 7.16%.
c. The bond is selling at a discount because its price is below the par value.
d. The yield to maturity is higher than the current yield because it considers the additional price appreciation between the current date and the bond's maturity.
a. To calculate the dollar price of the bond, we multiply the current price quote (96.523%) by the par value ($1,000):
Dollar Price of the Bond = Current Price Quote × Par Value
= 96.523% × $1,000
= $965.23
b. The current yield of the bond can be calculated by dividing the annual coupon payment by the dollar price of the bond:
Current Yield = (Annual Coupon Payment / Dollar Price of the Bond) × 100%
= ($1,000 × 6.900% / $965.23) × 100%
= 7.16% (rounded to two decimal places)
c. The bond is selling at a discount because its current price quote of 96.523% is below the par value of $1,000. When a bond sells below its par value, it indicates that investors are demanding a higher yield compared to the coupon rate.
d. The yield to maturity (YTM) takes into account the time value of money and the difference between the bond's current price and its par value at maturity. In this case, the YTM is 7.452%. The current yield, on the other hand, only considers the annual coupon payment relative to the bond's current price.
The YTM is higher than the current yield because it incorporates the price appreciation (or depreciation) between the current date and the bond's maturity. The difference between the YTM and the current yield represents the additional price change (in this case, $34.77) that will occur until the bond reaches its maturity date.
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As babies, we learned by trial and error. through traditional education, we think more like ______.
a. franchisees
b. managers
c. entrepreneurs
d. collaborators
As babies, we learn through trial and error, which is a more managers approach. Option b is correct.
The statement suggests that through traditional education, we think more like managers. Traditional education typically emphasizes structured learning, following established rules and procedures, and developing a systematic approach to problem-solving.
Managers are often responsible for organizing and coordinating resources, making decisions based on available information, and implementing established strategies within an existing framework. This aligns with the idea of thinking in a structured and organized manner, which is commonly associated with the managerial mindset.
Therefore, b is correct.
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Discuss whether you would use the Net Present Value (NPV) or the
Payback method (or both) to select a project?
When deciding whether to use the Net Present Value (NPV) or the Payback method (or both) to select a project, it's important to consider the specific needs and goals of the project.
The NPV method is commonly used to assess the profitability of a project by considering the time value of money. It takes into account the initial investment, cash inflows, and the discount rate. By comparing the present value of expected cash flows to the initial investment, NPV helps determine the project's viability. A positive NPV suggests that the project is financially beneficial.
On the other hand, the Payback method focuses on how quickly the initial investment can be recovered. It calculates the time it takes for the cumulative cash inflows to equal the initial investment. The shorter the payback period, the faster the investment is recovered. The Payback method is useful when liquidity and cash flow are critical factors.
In some cases, it might be beneficial to use both methods.
The NPV method provides a comprehensive analysis of the project's profitability over time, while the Payback method emphasizes the speed of return on investment. By utilizing both methods, you can gain a more well-rounded understanding of the project's financial prospects.
Ultimately, the choice between NPV, Payback method, or both depends on the specific circumstances and preferences of the decision-maker. It's crucial to consider factors such as the project's lifespan, financial constraints, and risk tolerance when making the selection.
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Deshaun invested his savings in two investment funds. The amount he invested in Fund A was 3 times as much as the amount he invested in Fund B. Fund A returned a 7% profit and Fund B returned a 4% profit. How much did he invest in Fund B, if the total profit from the two funds together was $2000?
The profit from Fund B can be calculated by multiplying the amount invested (x) by the profit percentage (4% or 0.04). So, the profit from Fund B is 0.04x.
To find out how much Deshaun invested in Fund B, let's first assign a variable to represent the amount he invested in Fund B. Let's call it "x".
Since the amount Deshaun invested in Fund A was 3 times as much as the amount in Fund B, we can say that the amount invested in Fund A is 3x.
The total profit from the two funds together was $2000.
The profit from Fund A can be calculated by multiplying the amount invested (3x) by the profit percentage (7% or 0.07). So, the profit from Fund A is 0.07 * 3x = 0.21x.
The profit from Fund B can be calculated by multiplying the amount invested (x) by the profit percentage (4% or 0.04). So, the profit from Fund B is 0.04x.
The sum of the profits from both funds is equal to $2000. So, we can write the equation:
0.21x + 0.04x = 2000
Combining like terms, we get:
0.25x = 2000
Dividing both sides by 0.25, we find that:
x = 8000
Therefore, Deshaun invested $8000 in Fund B.
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Bloomberg News reports that OPEC (a group of countries that together form the world's leading supplier of oil) will increase its supply of oil. This is expected to bring future oil prices down. How will this move by OPEC affect the demand for oil today? Explain your reasoning.
The move by OPEC to increase its supply of oil is likely to have an impact on the demand for oil today.
1. Lower Future Prices: When it is announced that OPEC will increase its oil supply, it signals an expectation of lower oil prices in the future. This expectation can influence the behavior of oil consumers in the present. Consumers may anticipate the lower future prices and adjust their current consumption patterns accordingly.
2. Inventory Build-up: In response to the expected lower future prices, some consumers may choose to increase their inventory levels in the present. They may stock up on oil or oil-related products, expecting that prices will be higher in the future. This temporary surge in demand for oil today can be driven by the anticipation of lower prices in the future.
3. Substitution Effect: Lower expected future prices for oil can also influence consumer behavior by encouraging the substitution of other energy sources or alternative products. Consumers may choose to use other energy sources or products that can serve as substitutes for oil, taking advantage of the expected lower oil prices in the future. This substitution effect can reduce the demand for oil in the present.
Overall, the move by OPEC to increase its oil supply and the expectation of lower future oil prices can influence the demand for oil today. It can lead to increased inventory build-up and the substitution of other energy sources or products, which can affect the current demand for oil. However, the exact magnitude of these effects will depend on various factors, including the responsiveness of consumers to price changes and the availability and viability of substitutes for oil.
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Suppose that your business needs to deliver 500 lb. boxes from Washington DC to Baltimore on a regular basis. To accomplish this, you are considering purchasing a truck. You have in mind either a small truck (with capacity of 1,500 lbs. and a cost of $2,500 per year) or a large truck (capacity of 4,000 lbs. and a cost of $10,000 per year). The cost of gasoline, maintenance, and the driver is $24 per round trip for either truck. Suppose that your firm needs to deliver Q boxes per year. What is the cost of delivering Q boxes using the small truck? What is the cost of delivering Q boxes using the large truck? What are the yearly fixed costs and marginal costs associated with using the large and small trucks? What is the average cost of delivering Q boxes with each truck? At what quantity of boxes would you switch from a small truck to a large truck? Explain. Bonus worth 5 extra points – What type of Economies of Scale does this firm face? Explain.
The firm faces economies of scale as it can take advantage of the lower average cost of delivering Q boxes by using a larger truck. This happens because the fixed cost per box decreases as Q increases, which means that the average cost per box decreases as well.
We know that a small truck costs $2,500 per year, while a large truck costs $10,000 per year. The cost of gasoline, maintenance, and the driver is $24 per round trip for either truck.
The formula for calculating the cost of delivering Q boxes using the small truck is as follows:
CS = (VC × Q) + FC
where CS is the total cost of delivering Q boxes using a small truck, VC is the variable cost per box, Q is the number of boxes, and FC is the fixed cost per year.
The variable cost of using a small truck is the cost of gasoline, maintenance, and the driver, which is $24 per round trip divided by the capacity of the small truck, which is 1500 pounds.
CS(small) = ($24/Q × 500) × Q + $2,500
= $48 + $2,500
= $2,548
The formula for calculating the cost of delivering Q boxes using the large truck is as follows:
CL = (VC × Q) + FC
where CL is the total cost of delivering Q boxes using a large truck, VC is the variable cost per box, Q is the number of boxes, and FC is the fixed cost per year. The variable cost of using a large truck is the same as the variable cost of using a small truck because the cost of gasoline, maintenance, and the driver is the same for both trucks.
CL(large) = ($24/Q × 500) × Q + $10,000
= $48 + $10,000
= $10,048
The yearly fixed costs associated with using a small truck are $2,500, while the yearly fixed costs associated with using a large truck are $10,000. The marginal costs associated with using either truck are the same and equal to $48. Therefore, we need to find the quantity of boxes at which the two average costs are equal:
AC(small) = AC(large)
$2,548/Q = $10,048/Q
Q = 1965 boxes
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