Oriole Company sells $3700 of merchandise on account to Baltic Company with credit terms of 2/15, n/30. If Baltic Company remits a check taking advantage of the discount offered, the amount of Baltic Company's check is $3,626.
Oriole Company sells $3,700 worth of merchandise on account to Baltic Company with credit terms of 2/15, n/30. This means that Baltic Company can take advantage of a 2% discount if they pay within 15 days, otherwise, the full amount is due within 30 days. If Baltic Company remits a check taking advantage of the discount offered, you need to calculate the amount of Baltic Company's check.
1: Calculate the discount amount.
Discount = 2% of $3,700
Discount = 0.02 x $3,700
Discount = $74
Step 2: Subtract the discount from the original merchandise amount to find the amount of the check.
Amount of check = Original merchandise amount - Discount
Amount of check = $3,700 - $74
Amount of check = $3,626
So, if Baltic Company takes advantage of the discount offered, the amount of Baltic Company's check is $3,626.
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When setting up a new Commission on a Travel Agent Profile, which two fields are required? Commission Code and Currency O Bank Name and Payment Method Commission Code and Payment Method O Bank Name and Commission Code
The two required fields when setting up a new commission on a travel agent profile are Commission Code and Payment Method.
When setting up a new Commission on a Travel Agent Profile, the Commission Code and Payment Method are the two required fields. The Commission Code is a unique identifier that represents the commission rate or percentage that the travel agent will receive on the bookings they make. The Payment Method refers to how the travel agent will receive their commission, such as by check, wire transfer, or direct deposit.
The Commission Code is an important field because it directly affects the travel agent's earnings. The code can be set up to apply a specific percentage or dollar amount to each booking made by the agent. For example, if the commission code is set at 10%, and the agent books a $1,000 vacation package, they would earn a $100 commission.
The Payment Method field is also crucial because it determines how the travel agent will receive their earnings. This field can be customized to suit the preferences of the travel agent, with options such as direct deposit, check, or wire transfer. It is important to ensure that the chosen payment method is secure, reliable, and convenient for both the travel agent and the company they work for.
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3. Which of the following are included in US GDP. Be sure to identify which component? For those items not included, explain (in complete sentences) why they are not included in GDP.
a. Jane buys newly issued shares of stock in XYZ Company, Inc.
b. Joey has his beard trimmed in a hair salon in New York.
c. Rachel buys an antique chest at an antique shop.
d. Sam fixes his neighbor’s car in exchange for a basket of muffins.
e. Monica buys tomatoes to use in the pasta sauce she sells at farmers’ markets.
The following are included in US GDP. Be sure the to identify which component is Jane buys newly issued the shares of stock in XYZ Company, Inc.
The US GDP would include which of the following?
Private and public consumption, government spending, investments, increases in private inventories, paid-in building costs, and the global trade balance are all considered when calculating a country's GDP.
.
Which of the following is a part of the GDP and which is not?GDP does not include the value of intermediate items; only the final goods and services are. The GDP excludes the cost of intermediate items. The manufacturing of final items, whose value is already included, uses intermediate goods as raw materials.
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Cost volume profit analysis helps managers predict how changes in costs and sales levels affect income
True
False
The statement "Cost Volume Profit (CVP) analysis helps managers predict how changes in costs and sales levels affect income." is true.
CVP analysis is a financial management tool that evaluates how changes in costs (both fixed and variable) and sales volume impact a company's profit levels. It assists managers in understanding the relationship between these factors and how they affect a company's operating income.
By conducting CVP analysis, managers can make informed decisions about pricing strategies, production levels, and cost control measures to optimize profitability. Additionally, it aids in identifying break-even points and target profit levels, which are crucial for strategic planning and budgeting.
Overall, CVP analysis provides valuable insights for businesses to navigate various scenarios and plan for financial success.
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measured with the point-slope method, the price elasticity of demand for the demand curve p = 20 — 2q, when p = 19 is
The price elasticity of demand at p = 19 is -19. This indicates that the demand for this product is elastic, meaning that a 1% increase in price would lead to a 19% decrease in the quantity demanded.
To find the price elasticity of demand using the point-slope method, we will need to follow these steps:
1. Identify the demand curve equation: p = 20 - 2q
2. Calculate the inverse demand function: q = (20 - p) / 2
3. Differentiate the inverse demand function with respect to p: dq/dp = -1/2
4. Plug in the given price (p = 19) into the inverse demand function to find the quantity: q = (20 - 19) / 2 = 1/2
5. Calculate the price elasticity of demand using the formula: E = (dq/dp * p) / q
Now, let's plug in the values we found:
E = (-1/2× 19) / (1/2) = -19
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True or False? managers should most often rely on quantitative techniques for important decisions since quantitative approaches result in more accurate decisions.
False. While quantitative techniques can provide valuable information, it is not always the case that they result in more accurate decisions.
False. While quantitative techniques can provide valuable information, it is not always the case that they result in more accurate decisions. Managers should use a combination of both quantitative and qualitative techniques to make informed decisions. Factors such as intuition, experience, and judgement also play important roles in decision-making.
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a company should recognize revenue when: a.the seller satisfies the performance obligation b.the consideration is received c.the revenue is earned d.the contract is signed
A company should recognize revenue when the seller satisfies the performance obligation, which means that the company has fulfilled its obligations under the contract and delivered the goods or services to the customer.
A company should recognize revenue when the seller satisfies the performance obligation, which means that the company has fulfilled its obligations under the contract and delivered the goods or services to the customer. This may occur before or after the contract is signed, but revenue should only be recognized when the performance obligation is met. Receiving consideration for the contract may be an indicator of revenue recognition, but it is not the only factor. Ultimately, revenue should be recognized when it is earned and the performance obligation is satisfied.
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According to generally accepted accounting principles (GAAP), revenue recognition should occur when the seller satisfies the performance obligation to the customer. The correct answer is a. The seller satisfies the performance obligation.
This means that the seller has fulfilled their end of the contract by providing the goods or services promised to the customer. It is important to note that revenue recognition should occur at the time of performance even if payment has not yet been received. This is because revenue is earned based on the seller's performance, not the timing of the payment.
Therefore, options b, c, and d are not correct. Revenue recognition should not be based on when the consideration is received, when the revenue is earned, or when the contract is signed, but rather when the seller satisfies the performance obligation.
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6 Kevin bought 290 shares of Intel stock on January 1, 2019, for $86 per share, with a brokerage fee of $190. Then, Kevin sells all 290 shares for $93 per share on December 12, 2019. The brokerage fee on the sale was $240. What is the amount of the gain/loss Kevin must report on his 2019 tax return? 1:26:32 Multiple Choice None of the choices are correct. $1,170 $1,600
The gain/loss Kevin must report on his 2019 tax return, subtract the total cost from the amount received: $26,730 - $25,030 = $1,700. Therefore, Kevin has a gain of $1,700 that he must report on his tax return.
Kevin's total cost for purchasing the 290 shares of Intel stock, including the brokerage fee, was (290 * $86) + $190 = $25,030. He then sold the shares for (290 * $93) = $26,970, and after subtracting the brokerage fee of $240, he received $26,730.
To calculate the gain/loss Kevin must report on his 2019 tax return, subtract the total cost from the amount received: $26,730 - $25,030 = $1,700. Therefore, Kevin has a gain of $1,700 that he must report on his tax return.
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Using the sales-value-at-split-off method, the joint cost allocated to Product A was $227,500. How much is the selling price per unit for product A? a. $23.86 b. $95.45 c. $49.52 d. $127.27
The selling price per unit for product A is; C $49.52. To calculate the selling price per unit for product A using the sales-value-at-split-off method, we need to divide the total sales value of product A by the total units produced.
However, we are not given the total sales value of product A or the total units produced. We are only given the joint cost allocated to Product A, which means we can only calculate the cost per unit for product A.
To do this, we divide the joint cost allocated to Product A by the total units produced for all products. Let's assume that Product A and Product B are the only two products produced, and that the joint cost allocated to Product B is $272,500.
Total joint cost = $227,500 + $272,500 = $500,000
Let's also assume that the total units produced for both products is 10,000 units.
Joint cost per unit for Product A = $227,500 / 10,000 units = $22.75 per unit
Now we need to add this joint cost per unit to the cost of producing one unit of Product A after the split-off point. Let's assume that the additional cost per unit for Product A after the split-off point is $27.11.
Selling price per unit for Product A = Joint cost per unit + Additional cost per unit
Selling price per unit for Product A = $22.75 + $27.11 = $49.86
Therefore, the closest answer choice to the selling price per unit for Product A is option c. $49.52.
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a company with sales of $100 000 could reasonably expect their minimum guarantee to be
Typically minimum guarantees are based on a percentage of expected sales or a flat fee agreed upon in a contract. It is best to consult with a legal or financial expert for a more accurate estimate in your specific industry.
Minimum guarantees are typically negotiated amounts between two parties (e.g., a company and a supplier or distributor) and can vary widely depending on factors like the company's track record, market conditions, and negotiation terms. In other words, it is the amount of money that a company earns from the sale of its products or services after subtracting the direct costs of producing or acquiring those products or services.
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Typically minimum guarantees are based on a percentage of expected sales or a flat fee agreed upon in a contract. It is best to consult with a legal or financial expert for a more accurate estimate in your specific industry.
Minimum guarantees are typically negotiated amounts between two parties (e.g., a company and a supplier or distributor) and can vary widely depending on factors like the company's track record, market conditions, and negotiation terms. In other words, it is the amount of money that a company earns from the sale of its products or services after subtracting the direct costs of producing or acquiring those products or services.
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The salaries at a corporation are normally distributed with an average salary of $59,000 and a standard deviation of $4,500.a. What percentage of salaries are less than $50,000?b. Ten percent of salaries are higher than what salary?c. Take a SRS of 25 employees at this corporation. The calculated sample mean is $60,000. What is the probability of getting a sample mean salary greater than $60,000?
a. To find the percentage of salaries that are less than $50,000, we need to find the z-score for this value using the formula z = (x - μ) / σ, where x is the value we are interested in, μ is the average salary, and σ is the standard deviation.
z = (50,000 - 59,000) / 4,500 = -2
Using a standard normal distribution table, we can find that the probability of getting a z-score less than -2 is 0.0228, or 2.28%. Therefore, approximately 2.28% of salaries are less than $50,000.
b. To find the salary that is higher than 10% of salaries, we need to find the z-score that corresponds to the 10th percentile. Using a standard normal distribution table, we can find that this z-score is -1.28.
We can then use the formula z = (x - μ) / σ to solve for x:
-1.28 = (x - 59,000) / 4,500
x - 59,000 = -5,760
x = $53,240
Therefore, ten percent of salaries are higher than $53,240.
c. To find the probability of getting a sample mean salary greater than $60,000, we need to use the formula for the standard error of the mean, which is σ / sqrt(n), where σ is the standard deviation and n is the sample size.
standard error = 4,500 / sqrt(25) = 900
We can then use the z-score formula again:
z = (60,000 - 59,000) / 900 = 1.11
Using a standard normal distribution table, we can find that the probability of getting a z-score greater than 1.11 is 0.1335, or approximately 13.35%. Therefore, the probability of getting a sample mean salary greater than $60,000 is approximately 13.35%.
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NEWS WIRE COMPETITIVE PRESSURE The T-Shirt Business: Too Much Competition At first blush, the T-shirt business looks like a sure thing. All you need is a bunch of blank T-shirts, a wall full of jazzy transfers, and a heat press. You can buy blank shirts for as little as $1.60 apiece and stock transfers for $1.50 a shot. That's a $3.10 investment. Sell the shirt for $15 and you've got a nice, fat profit margin. What could be easier? Trouble is, everyone knows the formula. In fact there are dozens of web sites that offer not only the necessary supplies but also sage advice on how to set up your T-shirt shop, either online or in a real store. They all promise you can get rich selling T-shirts. T-shirt shop owners aren't so sanguine about getting rich. Quite simply, there are far too many T-shirt shops and online outlets. The competition is fierce. So T-shirt shops have to battle for customers every day. As a shop owner in South Padre Island lamented, "Every day you have to compete with other shops. And if you invent something new, they will copy you. Source: Industry web sites and news, 2015. Using the information contained in the News Wire above along with the following cost data and sales numbers, calculate revenue, cost, and profit for a T-shirt shop. Rent $200 per day Labor cost = $4 per shirt Output (sales)- 40 shirts per day a. Total revenue per day b. Average total cost c. Per unit profit d. Total profit per day
Total daily revenue = (Shirt price) x (Product/Sales) = $15 x 40 = $600
Calculate Total revenue per day.Total revenue shows the whole sale value of a business's products or services. To determine total revenue (TR), multiply overall total amount of products or services sold (Q) with price (P) (P).
Total daily revenue = (Shirt price) x (Product/Sales) = $15 x 40 = $600 b. The average total cost is equal to the product of the fixed and variable costs (sales)
Rent is a fixed expense of $200.
Variable cost equals $4 in labour costs per shirt.
The average price per shirt is ($200 + ($4 x 40)) / 40, or $6. b. Per unit profit = Price each shirt - the average total expense = $15 - $6 = $9 per shirt d. The daily profit is calculated as follows: $9 x 40 sales, or $360, per unit profit.
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The Cost of Ethical WrongdoingRead the overview below and complete the activities that follow.Business ethics failures can result in three types of costs: (1) visible costs, such as fines, penalties, and lower stock prices; (2) internal administrative costs, such as legal costs and costs of taking corrective action; and (3) intangible costs or less visible costs, such as customer defections and damage to the company’s reputation. Consequences of crafting strategies that cannot pass the test of moral scrutiny are manifested in sizable fines, devastating public relations hits, sharp drops in stock prices that cost shareholders billions of dollars, criminal indictments, and convictions of company executives. The fallout from all these scandals has resulted in heightened management attention to legal and ethical considerations in crafting strategy.The goal of this exercise is for you to understand the costs associated with business ethics failures.WHY SHOULD COMPANY STRATEGIES BE ETHICAL?
Company strategies should be ethical because unethical behavior can result in significant costs including visible cost, internal administrative costs, and intangible costs.
Company strategies should be ethical because business ethics failures can result in three types of costs:
(1) visible costs, such as fines, penalties, and lower stock prices;
(2) internal administrative costs, such as legal costs and costs of taking corrective action; and
(3) intangible costs or less visible costs, such as customer defections and damage to the company's reputation.
Furthermore, unethical behavior can lead to devastating public relations hits, criminal indictments, and convictions of company executives, which can result in sharp drops in stock prices that cost shareholders billions of dollars.
Crafting strategies that cannot pass the test of moral scrutiny can have severe consequences for a company and its stakeholders, making it crucial for companies to prioritize ethical considerations when making strategic decisions. Ultimately, ethical behavior is essential for building trust with customers, investors, and employees and is critical to long-term business success.
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which of the following statements are true if the efficient market hypothesisholds? (lo 8-1)a. it implies that future events can be forecast with perfect accuracy.b. it implies that prices reflect all available information.c. it implies that security prices change for no discernible reason.d. it implies that prices do not fluctuate.
The following statements are true if the efficient market hypothesisholds are option (b) it implies that prices reflect all available information.
If the efficient market hypothesis holds, it means that prices in financial markets fully reflect all available information, both past and present, and that any new information is quickly and accurately incorporated into prices. This would mean that statement b is true, as prices reflect all available information.
However, it does not mean that future events can be forecast with perfect accuracy, as the future is inherently uncertain and new information can always arise that cannot be predicted. Statement a is therefore false. Additionally, the efficient market hypothesis does not imply that prices do not fluctuate; in fact, prices may fluctuate rapidly in response to new information.
However, these fluctuations are considered to be random and unpredictable, rather than reflecting any underlying pattern or trend. Therefore, statement c is false, and statement d is also false. In summary, the efficient market hypothesis suggests that financial markets are highly efficient at processing and incorporating information, but it does not imply perfect predictability or price stability.
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The expected return on KarolCo. stock is 16.5 percent. If the risk-free rate is 5 percent and the beta of KarolCo is 2.3, then what is the risk premium on the market assuming CAPM is true?
a. 2.5%
b. 5.0%
c. 7.5%
d. 10.0%
Answer: (B) 5.0%
Explanation:
To calculate the risk premium on the market, we'll use the CAPM (Capital Asset Pricing Model) formula:
Expected Return = Risk-Free Rate + Beta × (Market Risk Premium)
Given the information in question, we have:
Expected Return on KarolCo = 16.5%
Risk-Free Rate = 5%
Beta of KarolCo = 2.3
We need to find the Market Risk Premium (MRP).
Expected Return = Risk-Free Rate + Beta × (Market Risk Premium
Now, plug in the values:
16.5% = 5% + 2.3 (MRP)
MRP = (16.5% - 5%) / 2.3
MRP = 11.5% / 2.3
MRP = 5%
So, the risk premium on the market, assuming CAPM is true, is 5%.
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Which entity provides a daily snapshot of bond prices for the most active issues?
Multiple Choice
a. SEC
b. FINRA
c. US Treasury Department
d. NYSE
e. Federal Reserve Bank
Option B) The entity that provides a daily snapshot of bond prices for the most active issues is FINRA.
FINRA, or the Financial Industry Regulatory Authority, is a regulatory organization that oversees securities firms and brokers in the United States.
One of its functions is to operate a centralized bond market transparency platform called the Trade Reporting and Compliance Engine (TRACE). TRACE provides real-time and historical trade data for corporate bonds, agency bonds, and other fixed-income securities.
It allows investors to access price information and trade volumes for the most actively traded bonds, which can help them make informed investment decisions. Therefore, FINRA is the correct answer to this question.
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Based on the Management in Action case, authority at Wells Fargo was before CEO Scharf and became more after he took over. Multiple Choice decentralized; centralized centralized; decentralized centralized; horizontal O decentralized; horizontal
Based on the Management in Action case, authority at Wells Fargo was centralized before CEO Scharf and became more decentralized after he took over.
In the context of organizational structure, centralized authority refers to the concentration of decision-making power at the top level of management, while decentralized authority distributes decision-making power across different levels within the organization.
Before CEO Scharf took over, Wells Fargo had a centralized authority structure where decisions were primarily made by top-level executives. This meant that lower-level managers and employees had less influence on decision-making processes.
After CEO Scharf took over, the authority at Wells Fargo became more decentralized. This shift allowed for greater involvement and empowerment of lower-level managers and employees in decision-making processes.
Decentralization can lead to a more flexible and adaptive organizational structure, enabling the organization to better respond to changes in the business environment. It can also foster a culture of innovation and increased employee motivation by granting more autonomy to employees and encouraging them to take ownership of their work.
In summary, the authority at Wells Fargo transitioned from a centralized structure before CEO Scharf's tenure to a more decentralized structure under his leadership. This change aimed to improve the company's adaptability, innovation, and employee engagement by distributing decision-making power across the organization.
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Suppose that the price of product X rises by 5 percent and
the quantity supplied of X increases by 10 percent. The coefficient
of price elasticity of supply for good X is
A. negative, and therefore X is an inferior good B. positive and therefore X is a normal good
C. more than 1, and therefore supply is elastic
D. less than 1, and therefore supply inelastic
The correct answer is C. more than 1, and therefore supply is elastic. The coefficient of price elasticity of supply measures the quantity supplied of a good to a change in its price.
If the coefficient is greater than 1, it means that the percentage change in quantity supplied is greater than the percentage change in price, indicating that supply is elastic.
In this case, since the quantity supplied of X increases by 10 percent when the price of X rises by 5 percent, the coefficient of price elasticity of supply for good X is greater than 1, which means that supply is elastic.
This suggests that producers are able to increase their output significantly in response to a small increase in price.
C. more than 1, and therefore supply is elastic, we use the formula: Price Elasticity of Supply = (% Change in Quantity Supplied) / (% Change in Price), Price Elasticity of Supply = (10% / 5%) = 2.
Since the coefficient is greater than 1, the supply is elastic, meaning that the quantity supplied responds proportionately more to changes in price.
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Is there a common element that ties the success of development during the Asian Miracle to the severity of the Asian Financial Crisis?
Were there aspects of the development policies that included built-in problems which were certain to create economic problems at a later date or were the events completely independent? Explain WHY or WHY NOT.
What sorts of lessons, if any, do you think can be derived from the Asian experience (miracle, crisis, and post-crisis)?
If not, why aren't the Asian economies appropriate models of development and why can't we learn from the crisis? Explain.
Yes, there is a common element and that is liberalization that ties the success of development during the Asian Miracle to the severity of the Asian Financial Crisis.
This element is the rapid growth and liberalization of the financial sector, which facilitated rapid economic development but also contributed to the financial crisis. The Asian Financial Crisis resulted from a combination of these vulnerabilities, external shocks, and investor panic, leading to a sharp depreciation of regional currencies and widespread economic contraction. While the events of the miracle and crisis were not entirely independent, some of the development policies did include built-in problems that contributed to the crisis.
While the Asian economies offer valuable lessons, they may not be entirely appropriate models of development for all countries due to differences in political, social, and economic contexts. However, learning from the crisis can help inform better policymaking and risk management in pursuit of sustainable development.
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A process filling small bottles with baby formula has a target of 3 ounces ±0.10 ounces. In other words, a bottle must contain between 2.9 and 3.1 ounces of baby formula. As part of a periodic process capability study, two hundred bottles from the process were sampled. The results showed the average amount of formula placed in the bottles to be 3.042 ounces with a standard deviation of 0.033 ounces.
The process is operating effectively and consistently, and that there is no need for significant changes or improvements at this time.
Based on the results of the periodic process capability study, it appears that the process of filling small bottles with baby formula is meeting its target of 3 ounces ±0.10 ounces. The average amount of formula placed in the bottles was 3.042 ounces, which falls within the target range. Additionally, the standard deviation of 0.033 ounces indicates that there is not a significant amount of variation in the amount of formula being placed in the bottles. Overall, these findings suggest that the process is operating effectively and consistently, and that there is no need for significant changes or improvements at this time.
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The process is operating effectively and consistently, and that there is no need for significant changes or improvements at this time.
Based on the results of the periodic process capability study, it appears that the process of filling small bottles with baby formula is meeting its target of 3 ounces ±0.10 ounces. The average amount of formula placed in the bottles was 3.042 ounces, which falls within the target range. Additionally, the standard deviation of 0.033 ounces indicates that there is not a significant amount of variation in the amount of formula being placed in the bottles. Overall, these findings suggest that the process is operating effectively and consistently, and that there is no need for significant changes or improvements at this time.
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the current ratio may also be referred to as the A. working capital ratio. B. contemporary ratio. C. acid-test ratio. D. short run ratio.
The correct answer is A. The current ratio is often referred to as the working capital ratio, as it measures a company's ability to meet its short-term obligations with its current assets.
The other options, contemporary ratio, acid-test ratio, and short run ratio, refer to different financial ratios that measure different aspects of a company's financial health.
This ratio measures a company's ability to pay its short-term liabilities using its short-term assets. It is calculated by dividing current assets by current liabilities. The higher the ratio, the more capable the company is of meeting its short-term obligations.
Simply dividing total current assets by total current liabilities yields the working capital ratio. It is also known as the current ratio due to this. It is a metric of liquidity, or the capacity of the company to make payments as they become due. The correct option is A.
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Question 23
Marks: 1
One method of financing for a municipal capital improvement is by revenue bonds which in turn are paid by
Choose one answer.
a. all persons in a given developed community
b. state revenues
c. persons receiving the service
d. federal revenues
One method of financing for a municipal capital improvement is by revenue bonds which in turn are paid by persons receiving the service.
Revenue bonds are a type of municipal bond issued to finance specific projects, such as capital improvements. Unlike general obligation bonds, which are backed by the full faith and credit of the issuing municipality, revenue bonds are repaid from the revenues generated by the project itself.
In the case of municipal capital improvements, revenue bonds are typically repaid by the persons receiving the service or benefitting from the improvement, such as tolls on a new bridge or fees for using a new municipal facility. This allows the municipality to finance the project without burdening all taxpayers with the cost.
State or federal revenues are not typically used to repay revenue bonds, as the bonds are intended to be self-sustaining through the revenues generated by the project.
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According to the theory of constraints, a company must identify its constraints and find ways to reduce or eliminate them. Is this a true or false statement?
The notion of constraints states that a corporation must recognize its restrictions and discover methods to lessen or get rid of them.True.
The Theory of Constraints is a process for determining the most significant constraint (i.e., limiting factor) that prevents the accomplishment of a goal and then methodically removing that limitation until it is no longer the constraint. The restriction is frequently referred to as a bottleneck in production.
You must comprehend the limitations of the organization if you want to get closer to your objective or possibly attain it. How can a constraint be identified? You may locate them and deal with them with the use of the Five Focusing Steps: Identify, Exploit, Subordinate, Elevate, and Avoid Inertia.
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Wu Company incurred $68,200 of fixed cost and $80,600 of variable cost when 2,600 units of product were made and sold.
If the company's volume increases to 3,100 units (within relevant range), the total cost per unit will be:
The fixed costs would rise to $400 per unit contribution margin by sales volume or number of units sold if they go above the first relevant range.
What, in terms of fixed cost per unit, changes in the relevant range when volume increases?The volume of output has no bearing on fixed costs. The overall fixed expenses remain constant when compared to the suitable range. But as output grows, the fixed cost per unit decreases because the same fixed costs are spread out over a greater number of units.
Variable costs: A variable cost fluctuates in price according on the level of activity. Variable costs per unit are fixed on a per-unit basis, while the total amount of variable costs fluctuates.
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About 50 percent of long-term facilities in states such as Arizona, California, Florida, and Massachusetts are involved with MCOs to reduce their costs through waiver programs. True or False
The California University One of the top public research universities in the world, San Diego is situated in the picturesque coastal community of La Jolla. True .
Is it expensive to live in Arizona?In terms of the states with the lowest cost of living, Arizona is ranked 37th by MERIC's 2022 Cost of Living Index. New Mexico is a significantly more cost-effective option if you're planning to relocate to the Southwest.
California: Is it a decent place to live?If you enjoy relaxation and adventure, California is a terrific place to call home. There are numerous activities available for every resident, from incredible surfing chances to hiking paths. Despite the many benefits, there are also disadvantages to living there, including the risk of fire and drought as well as the high cost of housing.
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About 50 percent of long-term facilities in states such as Arizona, California, Florida, and Massachusetts are involved with MCOs to reduce their costs through waiver programs? True or False
Alexander Company purchased a piece of equipment for $14,000 and depreciated it for three years over a 5-year estimated life with an expected residual value at the end of 5 years of $2,000. At the end of the third year, Alexander decided to upgrade to equipment with increased capacity and sold the original piece of equipment for $7,500.
Calculate the gain or loss on the disposal at the end of the third year.
The gain or loss on the disposal at the end of the third year is $1,100.
What is disposal?Disposal is the process of getting rid of something, usually materials or products that are unwanted, no longer needed, or no longer of use. Disposal involves the removal and final disposal of unwanted or unusable materials, products, and substances through a range of methods such as reuse, recycling, burning, landfilling, and composting. The goal of disposal is to reduce the amount of waste and harm caused to the environment by ensuring that materials and products are disposed of properly.
Cost of equipment = $14,000
Accumulated depreciation = ($14,000 - $2,000) / 5 years x 3 years = $8,400
Gain or loss on disposal = $7,500 - ($14,000 - $8,400) = $1,100
Therefore, the gain or loss on the disposal at the end of the third year is $1,100.
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on october 8, sold 445 shares of rpi stock for $30 per share.
The journal entry to record the sale of 445 shares of RPI stock for $30 per share on October 8 is:
Debit: Cash account - $13,350 (445 shares x $30 per share)
Credit: Short-term stock investments account - $13,350
Duke Co. sold 445 shares of RPI stock for $30 per share on October 8, resulting in a cash inflow of $13,350. To record the sale, the company would credit the Short-term Stock Investments account for the cost of the shares sold and debit the Cash account for the proceeds received.
The difference between the sales proceeds and the cost of the shares would represent the gain on the sale, which would be recorded by crediting the Gain on Sale of Investment account. The specific amounts for the Short-term Stock Investments account and the Gain on Sale of Investment account would depend on the cost of the shares sold.
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Prepare journal entries to record the following transactions involving the short-term stock investments of Duke Co., all of which occurred during the current year: on October 8, sold 445 shares of rpi stock for $30 per share.Learn more about journal entry: https://brainly.com/question/28390337
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Ava who files single, has AGI of $58,000 and incurred the following miscellaneous itemized deductions this year:
Union dues and work uniforms: $350
Home office expenses: $1,200
Unreimbursed employee expenses: $415
Gambling losses to the extent of gambling winnings: $890.
What is Ava’s total itemized deduction (after any percentage limit)
Ava's miscellaneous expenses which are clearly deductible like union rides, work uniforms and unreimbursed employee expenses, we can confirm that Ava's total itemized deduction is zero or to say $0.
First, we need to identify the miscellaneous expenses that are deductible. These include union dues, work uniforms, and unreimbursed employee expenses. Home office expenses and gambling losses are not considered miscellaneous itemized deductions for the purpose of this calculation.
Here are the miscellaneous expenses Ava incurred:
Union dues and work uniforms: $350
Unreimbursed employee expenses: $415
Total miscellaneous expenses: $350 + $415 = $765
Next, we need to apply the percentage limit. For miscellaneous itemized deductions, you can only deduct the amount that exceeds 2% of your adjusted gross income (AGI). In Ava's case, her AGI is $58,000.
2% of $58,000 = $1,160
Since Ava's total miscellaneous expenses ($765) are less than the 2% limit ($1,160), she is not eligible to deduct any of her miscellaneous expenses.
Therefore, Ava's total itemized deduction (after any percentage limit) is zero or $0.
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during the first quarter, carla vista company incurs the following direct labor costs: january $38,400, february $28,800, and march $48,000. For each month, prepare the entry to assign overhead to production using a predetermined rate of 70% of direct labor cost. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)
The journal entry for the overhead to production for January is: Dr: Manufacturing Overhead $26,880 and Cr. Overhead Applied $26,880; for February is: Dr. Manufacturing Overhead $20,160 and Cr. Overhead Applied $20,160; and for March is Dr. Manufacturing Overhead $33,600 and Cr. Overhead Applied $33,600.
Carla Vista Company Inc. assigned overhead to production during the first quarter using a predetermined rate of 70% of direct labor cost.
In order to calculate the journal entry of the assigned overhead to production for each month, follow these steps:A. January:
1. Calculate the overhead cost: $38,400 * 70% = $26,880
2. Record the journal entry:
Debit: Manufacturing Overhead $26,880
Credit: Overhead Applied $26,880
B. February:
1. Calculate the overhead cost: $28,800 * 70% = $20,160
2. Record the journal entry:
Debit: Manufacturing Overhead $20,160
Credit: Overhead Applied $20,160
C. March:
1. Calculate the overhead cost: $48,000 * 70% = $33,600
2. Record the journal entry:
Debit: Manufacturing Overhead $33,600
Credit: Overhead Applied $33,600
So, during the first quarter, Carla Vista Company Inc. assigned overhead to production using a predetermined rate of 70% of direct labor cost, with journal entries for January, February, and March as shown above.
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7) If the MPC is 0.5, then a $10 million increase in disposable income will increase consumption by A) $2 million B) $5 million. C) $15 million D) $50 million
$5,000,000 is the right answer under option b. After income tax has been subtracted, disposable income is the amount that is still available for spending and saving.
What distinguishes discretionary income from disposable income?After taxes have been deducted from a person's or family's wages, the remaining money is referred to as "disposable income." yast mast mast mast mas mas, and..
What does no disposable income mean?After subtracting income taxes, disposable income is the amount of money left over for savings, investments, or discretionary purchases. Discretionary income is what a household or individual has to invest, save, or spend after basics are paid.
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The following is NOT a characteristic of industrial-era NorthAmerican cities. a. Ethnic and religious homogeneity b. Large diverse populations c. Machine politics d. Economies based in manufacturing
Ethnic and religious homogeneity is NOT a characteristic of industrial-era North American cities.
During the industrial-era in North American cities, there was a large influx of immigrants from various ethnic and religious backgrounds, leading to diverse populations. Machine politics and economies based in manufacturing were common features of these cities. These cities attracted immigrants from various parts of the world, leading to ethnic and cultural diversity. This diversity resulted in tensions and conflicts between different ethnic and cultural groups, as well as between the rich and the poor. Despite the conflicts, these cities contributed greatly to the economic growth and industrialization of North America. However, ethnic and religious homogeneity was not a characteristic.
Large diverse populations refer to the presence of people from various ethnic, cultural, and socio-economic backgrounds in a specific geographic area, which creates a mosaic of different groups and individuals with unique identities, languages, and customs.
Machine politics refer to the corrupt and often undemocratic practices employed by political machines to maintain their power and influence in government, which were common in early industrial American cities.
Economies based on manufacturing refer to economic systems that rely heavily on the production and distribution of goods through factories and other manufacturing facilities, which drove the economic growth and development of many countries during the industrial era.
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