Answer:
Seattle Widgets will be held liable because they are respondeat superior in this situation
Explanation:
The concept of respondeat superior states that an entity will be held liable for actions of their agents.
Usually when an agent acts in an official capacity or while performing duties for the employer the employer is held responsible for any wrongful act performed.
In the given instance Susan did not inquired into the criminal past of Bill. He now assaults a cashier while drunk.
If the cashier sues Seattle Widgets, the ruling will most likely hold Seattle Widgets liable because they are a respondeat superior and they were negligent in hiring Bill.
An analyst gathers the following information about Meyer, Inc.: Meyer has 1,000 shares of 8% cumulative preferred stock outstanding, with a par value of $100 and liquidation value of $110. Meyer has 20,000 shares of common stock outstanding, with a par value of $20. Meyer had retained earnings at the beginning of the year of $5,000,000. Net income for the year was $70,000. This year, for the first time in its history, Meyer paid no dividends on preferred or common stock. a. Calculate the total book value of Meyer's common stock. b. What is the book value per share of Meyer's common stock
Answer and Explanation:
The computation is shown below
a. Total book value is
= Equity par value + retained earnings + net income
= 20,000 shares × $20 + $5,000,000 + $70,000
= $5,470,000
b. The book value per share is
= Equity book value ÷ number of shares
= $5,470,000 ÷ 20,000shares
= $273.50
Hence, the total book value and book value per share is $5,470,000 and $273.50 respectively
A present value of $2600 is invested in an account with an annual interest rate of 4.1% . Determine the minimum amount of time required for the present value to triple, assuming the interest is compounded monthly. The minimum amount of time required is:
Answer:
The minimum amount of time required is:
26.82 years.
Explanation:
Present value = $2,600
Future value = $7,800 ($2,600 * 3)
Annual interest rate = 4.1%
Monthly interest rate = 4.1%/12 = 0.342%
$2,600 will need to be invested for 321.781 (26.82 years) periods to reach the future value of $7,800.00.
FV (Future Value) $7,800.00
PV (Present Value) $2,600.00
N (Number of Periods) 321.781
I/Y (Interest Rate) 0.342%
PMT (Periodic Payment) $0.00
Starting Investment $2,600.00
Total Principal $2,600.00
Total Interest $5,200.00
you are a euro-based portfolio manager and you have invested in the technology sector of the U.S. stock market. You want to keep your exposure to tech stocks but are worried about an impending financial crisis in the United States. What is the best way to manage your dollar currency risk
Answer: You enter into Euro/USD forward contract.
Explanation:
Based on the information given in the question, the best way to manage the dollar currency risk is to enter into Euro/USD forward contract.
A forward contract is a contract between two parties whereby an asset is being bought it sold at a particular price in the future. It should be noted that forward contract is good for speculations.
On January 1, 2020, Marvel Company purchased an investment in Stark Industries for $5 million, representing 35% of the book value of Stark Industries. During the year, Stark reported net income of $1,200,000 and pays cash dividends of $100,000. At the end of the year, the fair value of Marvel’s investment is $5.4 million. Required At what amount is the investment reported on Marvel’s balance sheet at year-end? What amount of income from investments does Marvel report? Prepare journal entries to record the transactions for Marvel Company.
Answer:
1. Investment at beginning $5,000,000
Add: Net Income (1200000*35%) $420,000
Less: Dividend (100000*35%) $35,000
Investment at year end $5,385,000
2. Amount of Income from Investment = $1,200,000*35% = $420,000
3. Journal entries to record transactions
Particulars Debit Credit
Investment in Marvel Co. $420,000
Equity Income $420,000
(Recording receipt of net income)
Cash $35,000
Investment in Marvel Co $35,000
( Recording receipt of dividend)
Yanita Company, an IFRS reporting firm, has three bank accounts. The respective account balances are as follows: Account 1: $50,000; Account 2: $70,000; Account 3: $(10,000). Consistent with IFRS, cash and cash equivalents are equal to:
Answer:
Consistent with IFRS, cash and cash equivalents are equal to:
$110,000.
Explanation:
a) Data and Calculations:
Account 1: $50,000
Account 2: $70,000
Account 3: $(10,000)
Total $110,000
b) Yanita's cash and cash equivalents are the assets that are cash or can be converted into cash immediately, which include bank accounts and marketable securities such as commercial paper and short-term government bonds. Under IFRS, cash and cash equivalents also include bank overdrafts, which are recorded under current liabilities on the Balance Sheet. However, under US GAAP, bank overdrafts are not treated as part of the cash and cash equivalents. This implies that under US GAAP, Yanita's cash and cash equivalents would be totaling $120,000.
.Universal Containers users a Hybrid Sharing model where Accounts and Contacts are Read Only and Opportunities and Cases are private. Account Executives own all the Accounts. Some Contacts are owned by AEs, and other Contacts are owned by support reps. How should a system admin ensure the AEs can edit all the Contacts associated with their accounts, no matter who owns the Contacts
Answer: Select the edit all associated contacts option for the AE Role in the Role Hierarchy.
Explanation:
The individual should select edit for all the associated contacts option for the AE role in the role hierarchy
Collins, Inc. issued a nontaxable stock dividend of one share for each share owned. Melissa, a shareholder of Collins, had a total basis in her 500 shares of stock of $5,000. The total basis of Melissa's 1,000 shares of stock after the dividend is ______.
Answer:
$5,000
Explanation:
Based on the information given we were told that had a total basis in her 500 shares of stock of the amount of $5,000 which means that The total basis of Melissa's 1,000 shares of stock after the dividend is $5,000 which is her total basis in her 500 shares of stock.
The government of Japan sets a limit on the amount of rice that can be imported from the United States. This is Group of answer choices a quota. a dumping duty. an antidumping duty. a tariff.
Answer:
a quota
Explanation:
The quota is the type of the restriction made in the trade where the physical limit is set on the quantity of the products or goods that could be imported in a country under a prescribed period of time. It benefits the producers of goods
Therefore as per the given situation, since the Japan government sets a limit for the rice amount that can be imported from the United states so this represents the quota
Therefore the first option is correct
Dean has earned $75,000 annually for the past seven years working as an architect for WCC Incorporated Under WCC's defined benefit plan (which uses a seven-year graded vesting schedule) employees earn a benefit equal to 4.5 percent of the average of their three highest annual salaries for every full year of service with WCC. Dean has worked for seven full years for WCC and his vesting percentage is 99 percent. What is Dean's vested benefit (or annual retirement benefit he has earned so far)
Answer:
$23,388.75
Explanation:
Calculation for Dean's vested benefit
Dean's vested benefit =$75,000 x (4.5% x 7 years) x 99%
Dean's vested benefit =$75,000×0.315×99%
Dean's vested benefit =$23,388.75
Therefore Dean's vested benefit will be $23,388.75
When a company issues 25,000 shares of $1 par value common stock for $10 per share, the journal entry for this issuance would include: Multiple Choice A credit to Common Stock for $250,000. Incorrect A debit to Cash for $25,000. A debit to Additional Paid-in Capital for $25,000. A credit to Additional Paid-in Capital for $225,000.
Answer:
A credit to Common Stock for $25,000
Explanation:
Based on the information given in a situation where a company issues 25,000 shares of $1 par value common stock for $10 per share, the journal entry for this issuance would include:A credit to Common Stock for $25,000
Dr Cash $250,000
Cr Common Stock 25,000
Cr Additional Paid-In Capital 225,000
($250,000-25,000)
air transportation results in lower inventory holding costs.” True or false?
Answer:
I think its false
In the management assistance area, the Small Business Administration (SBA) provides all of the following EXCEPT: Group of answer choices free college credit courses in management toll-free advice numbers training and educational programs counseling by business development officers free publications on business topics
Answer: Free college credit courses in management
Explanation:
The Small Business Administration (SBA) is a Federal government agency that aims to help small businesses and entrepreneurs by providing them with resources to make them grow.
They have toll-free phone numbers that entrepreneurs and small businesses can call for advice, they have trading training programs and business development offices who offer advice and counsel on business techniques and they even free publications on business topics.
They do not however offer free college credit courses in management.
In the Sheffield Corp., indirect labor is budgeted for $108000 and factory supervision is budgeted for $36000 at normal capacity of 160000 direct labor hours. If 180000 direct labor hours are worked, flexible budget total for these costs is:_______
a. $157500.
b. $144000.
c. $162000.
d. $148500.
Answer:
Total flexible cost= $157,500
Explanation:
Factory supervisor is a fixed cost.
First, we need to calculate the unitary variable cost:
Unitary variable cost= 108,000/160,000= $0.675
Now, the total flexible cost for 180,000 hours:
Total flexible cost= 0.675*180,000 + 36,000
Total flexible cost= $157,500
An asset group is being evaluated for an impairment loss. The following financial information is available for the asset group: Carrying value $100,000,000 Sum of the undiscounted cash flows $95,000,000 Fair value $80,000,000 What amount of impairment loss, if any, should be recognized
Answer:
The amount of the impairment loss that should be recognized is:
$20,000.
Explanation:
a) Data and Calculations:
Undiscounted cash flows = $95,000
Carrying value = $100,000
Fair value = 80,000
Impairment loss = $20,000
b) Impairment loss for the asset group is the difference between the fair value and the carrying value. It is recognized when the fair value declines from the carrying value. This implies that the calculation to determine the impairment loss is achieved by deducting the fair value from the carrying value.
Private investment during a year includes Group of answer choices spending on plant and equipment plus capital formation the value of inventories plus the values of stocks and bonds spending on plant and equipment plus government spending plus household spending on stocks and bonds stocks and bonds purchased by firms spending on plant and equipment, new housing construction, and changes in inventories
Answer:
spending on plant and equipment, new housing construction, and changes in inventories
Explanation:
A private investment can be defined as funds used by business firms to purchase capital assets such as plants and equipments, new office building and inventories required for the smooth running of the business and are typically expected to generate revenues in the future (cash-flow) and appreciate in value.
Private investment during a year includes spending on plant and equipment, new housing construction, and changes in inventories.
Some business owners may decide to make more investment in their business on an annual (yearly) basis or perennially depending on the type of business and their level of capital expenditure.
1. The capital structure weights used in computing the weighted average cost of capital: A. are based on the book values of total debt and total equity. B. are based on the market values of total debt and total equity. C. are restricted to the firm's debt and common stock only D. remain constant over time unless the firm issues new securities.
Fontaine and Monroe are forming a partnership. Fontaine invests a building that has a market value of $356,000; the partnership assumes responsibility for a $128,000 note secured by a mortgage on the property. Monroe invests $103,000 in cash and equipment that has a market value of $78,000. For the partnership, the amounts recorded for the building and for Fontaine's Capital account are:_______.
a. Building $356,000; Fontaine, Capital $309,000.
b. Building $356,000; Fontaine, Capital $356,000.
c. Building $228,000; Fontaine, Capital $128,000.
d. Building $228,000; Fontaine, Capital $228,000.
e. Building $356,000; Fontaine, Capital $228,000.
Answer: e. Building $356,000; Fontaine, Capital $228,000.
Explanation:
The company would record the building which Fontaine brought in at its Market value which is $356,000.
However, because the partnership assumes responsibility for a $128,000 note secured by a mortgage on the property, this cannot be counted as a capital contribution from Fontaine so this will be removed from their capital contribution;
= 356,000 - 128,000
= $228,000
Bezos moved to Seattle, Washington because _________ and ______
a. no state taxes on retail purchases
b. of federal funding of his new project
c. it was near IBM
d. take advantage of the software talent
Answer:
a
Explanation:
Marsha is 23 years old and single. She cannot be claimed as a dependent by another taxpayer. Marsha earned wages of $18,500 and had $1,500 of federal income tax withholding in tax year 2020. Marsha gave birth to Shelby on November 10, 2020. Marsha paid all the cost of keeping up a home and support for Shelby. Shelby and Marsha are U.S. citizens and have valid Social Security numbers. Marsha filed Single with no dependents on her 2019 tax return and received a $1,200 Economic Impact Payment in May 2020. 3. Marsha is not required to file a return, but should file a return to claim a refund of her federal income tax withholding. True False
Answer:
a. Marsha is required to file a tax return.
Explanation:
Since in the question it is mentioned that Marsha who is 23 years old and single she earned $18,500 wages and federal income tax of $1,500 also Shelby and Marsha are U.S citizens
So as per the given situation she needs to file a tax return
Hence, the correct option is a
And, the same is to be considered
On January 1, 2019, Woodstock, Inc. purchased a machine costing $30,900. Woodstock also paid $1,700 for transportation and installation. The expected useful life of the machine is 5 years and the residual value is $4,600. How much is the annual depreciation expense, assuming use of the straight-line depreciation method
Answer:
Annual depreciation= $5,600
Explanation:
Giving the following information:
Total Purchase price= 30,900 + 1,700= $32,600
Useful life= 5 years
Residual value= $4,600
To calculate the depreciation expense under the straight-line method, we need to use the following formula:
Annual depreciation= (Total Purchase price - salvage value)/estimated life (years)
Annual depreciation= (32,600 - 4,600) / 5
Annual depreciation= $5,600
A startup will start paying dividends at the end of year 6. The initial growth rate is 10%. This growth rate will continue until year 10. Starting from year 11, the growth rate drops to 5%. The discount rate is 20%. What should the price be at the end of year 5 if the initial dividend is $10.
Answer: $76.46
Explanation:
The price at the end of year 5 is the sum of the present values of the dividends from year 6 to 10 and the present value of the terminal in year 10.
Year Dividends Discount factor Present value
6 10 ( 1 + 20%) 8.33
7 10 * 1.1 = 11 (1 + 20%)² 7.64
8 10 * 1.1² = 12.1 (1 + 20%)³ 7.00
9 10 * 1.1³ = 13.31 (1 + 20%)⁴ 6.42
10 10 * 1.1⁴ = 14.641 (1 + 20%)⁵ 5.88
Total 35.27
Terminal value at year 10 = Next dividend / (Discount rate - growth)
= (14.641 * 1.05) / (20% - 5%)
= $102.487
Present value = 102.487/ (1 + 20%)⁵ = $41.187
Price of stock = 41.187 + 35.27
= $76.46
Hannah makes the following charitable donations in the current year: Basis Fair Market Value Inventory held for resale in Hannah's business (a sole proprietorship) $ 8,000 $ 7,200 Stock in HBM, Inc., held as an investment (acquired four years ago) 16,000 40,000 Baseball card collection held as an investment (acquired six years ago) 4,000 20,000 The HBM stock and the inventory were given to Hannah's church, and the baseball card collection was given to the United Way. Both donees promptly sold the property for the stated fair market value. Disregarding percentage limitations, Hannah's current charitable contribution deduction is: a.$28,000. b.$67,200. c.$51,200. d.$52,000.
Answer:
c.$51,200.
Explanation:
Individual tax: Charitable contribution deduction ignoring % limit
Inventory will be valued at lower of FMV or basis $7,200
Stock in HBM (a capital investment assets $40,000
will be valued at FMV)
Baseball card collection (Non capital gain item, $4,000
valued at lower of FMV or basis)
Hannah's Current maximum charitable $51,200
contribution deduction
If a preferred stock from Pfizer Inc. (PFE) pays $4.00 in annual dividends, and the required return on the preferred stock is 8.00 percent, what's the value of the stock?
a. $50.00
b. $0.32
c. $32.00
d. $0.50
Answer:
Option a ($50.00) seems to be the right approach.
Explanation:
The given values are:
Annual dividend is,
= $4.00
Required return is,
= 8.00% i.e., 0.08
By using the formula, we get
⇒ [tex]Value \ of \ the \ stock=\frac{Annula \ Dividend}{Required \ return}[/tex]
On putting the above given values, we get
⇒ [tex]=\frac{4.00}{0.08 }[/tex]
⇒ [tex]=50[/tex] ($)
Assuming a FICA tax rate of 8% on the first $100,000 in wages, and a federal income tax rate of 20% on all wages, what would be an employee's net pay for the year if he earned $120,000 for the year?
Answer:
the answer is c
Explanation:
What has held Russia back from progressing to a free market?
Answer:
I dont knpwo
Explanation:
jfbwuybfuywfiuwkjedc
A business finds that sales increase when the outdoor temperature decreases. Identify the relation between sales and temperature. Select the correct answer below: Sales and temperature are positively correlated. An increase in sales causes an increase in temperature. Sales and temperature are negatively correlated. An increase in temperature causes an increas
an increase in temp causes qnd increase in sales
An increase in temperature causes an increase in sale is the relation between sales and temperature. Hence, option D is correct.
What is the increase in sales?The sales growth rate measures how successfully your company can generate revenue from sales over a specific period of time. This rate is used by investors to assess if your company is growing or starting to plateau. It is used by your firm to evaluate internal successes and difficulties.
Effective sales enable you to acquire quality leads and clients who are also useful to you. If the business was experiencing excellent sales, the employees would also be happy.
In reality, it will enhance worker performance and enable them to do their responsibilities in a more systematic and expert manner.
Thus, option D is correct.
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If the reserve ratio is 10 percent, $1,000 of additional reserves can create A. $5,000 of new money. B. $9,000 of new money. C. $10,000 of new money. D. None of the above is correct.
Answer:
C. $10,000 of new money.
Explanation:
The computation of the additional reserve developed is as follows;
= Additional reserve ÷ reserve ratio
= $1,000 ÷ 0.10
= $10,000
Hence, it would create $10,000 of new money
We simply applied the above formula so that the correct value could come
And, the same is to be considered
Therefore the correct option is C
Charlie's Chocolates' owner made investments of $66,000 and withdrawals of $28,000. The company has revenues of $99,000 and expenses of $72,000. Calculate its net income.
Answer:
$27,000
Explanation:
Charlie's chocolate has investments of $66,000
Withdrawals is $28,000
The company revenues is $99,000
Expenses is $72,000
Therefore the net income can be calculated as follows
= Revenue - expenses
= $99,000-$72,000
= $27,000
Hence the net income is $27,000
Suppose the Federal Reserve increases the amount of reserves by $100 million and the total money supply increases by $500 million. Instructions: Enter your answers as a whole number. a. What is the money multiplier
Answer:
the money multiplier is 5
Explanation:
The computation of the money multiplier is as follows:
As we know that
Increase in money supply = Increase in reserves × Money multiplier
Now after rearranged it the following formula is
Money multiplier = Increase in money supply ÷ Increase in reserves
= $500 million ÷ $100 million
= 5
Hence, the money multiplier is 5
If consumers view the output of any firm in a market to be identical to the output of any other firm in the market, the demand curve for the output of any given firm A. will be identical to the market demand curve. B. will be horizontal. C. will be vertical. D. cannot be determined from the information given.
Answer:
B. will be horizontal.
Explanation:
In the case when the firm is in the perfect competition market so here the demand curve would be horizontal as because of the same product and also the transaction cost is lesser that means if someone rise the prices so the producer would lost all its revenue
Therefore as per the given situation, the option b is correct
