Answer: $4180
Explanation:
From the question, we are told that Chris purchases a living room furniture set for $4,345 and has a one-year, no interest, no money down, deferred payment plan. We are further told that She he made a $15 monthly payment for the first 11 months.
The total amount paid for the first 11 months will be:
= $15 × 11
= $165
Since he has to pay the total amount for 12 months, the amount that Chris will pay in the last month of this plan will be:
= $4345 - $165
= $4180
Were you surprised to learn how much companies focus on the teen market? Explain.
Answer:
Yes, a large percentage of consumers are influenced by people who are present on the internet, who are mostly younger people. In order to generate income, advertisements for young people are becoming less and less advertising look like.
For this reason, advertising pieces should always aim to entertain and inform, only to later sell. The experience with advertising content should be positive.
The teen audience may have many different tastes, but there is a high probability that everyone will use a cell phone. The device is part of the daily lives of young people and it is through it that teenagers communicate, consume content, and even shop.
Special Order Northern Company regularly sells its only product for $34 per unit and has a 25% profit on each sale. The company has accepted a special order for a number of units, the production of which would use part of its unused capacity. The special order sales price is 50% of the normal price, and the profit margin is only 60% of the regular dollar profit. What, apparently, is Note: Round answers to two decimal places, when applicable.
Answer:
the question is incomplete, so I looked for similar questions and found the following requirements:
Round answers to two decimal places, when applicable.
a. Northern’s profit per unit on the special order?
$5.10
b. Northern’s variable cost per unit?
$11.90
c. Northern’s average fixed cost per unit on regular sales?
$13.60
Explanation:
regular price $34
regular profit 25% x $34 = $8.50
special order price = $17
special order profit = $8.50 x 60% = $5.10
net profit = sales price - variable costs - fixed costs
$8.50 = $34 - variable costs - fixed costs
$5.10 = $17 - variable costs
variable costs = $25.50 - fixed costs
variable costs = $11.90
fixed costs = $13.60
deposited pierrs's check for $1000 in the bank what is the general jeneral entry?
Answer:
When a cheque received is not deposited on the same day, it is taken in the cash account and when it is deposited in bank, then a contra entry is passed. For example cheque received from Ram on 15th March is deposited on 18th March, following entries will be passed: 15/3 Cash A/c Dr.
Explanation:
Managers strive to increase the value of a firm. An increase in the intrinsic value of the firm’s stocks is a good measure of the increase in the value of the firm. Intrinsic value of a firm’s stock price is determined by calculating the present values of its free cash flows (FCF) discounted at a rate called the weighted average cost of capital (WACC). Tyler is a team member in Corporate Finance at a digital-content production company. He is required to forecast the free cash flows that the company will be able to generate in the next three years. Tyler takes into account only the following equation in his calculation: FCF = Sales Revenues – Operating Costs – Operating Taxes Will his calculation be an appropriate estimate of the FCF? No Yes Why or why not? Check all that apply. Because his calculation fails to include both the working capital and capital expenditures necessary to sustain the company’s operations Because his calculation fails to include the increase in the working capital required to grow sales Because his calculation fails to include the costs of the firm’s interest and dividend payments Because his calculation fails to recognize the increase in sales revenues
Answer:
No. Because his calculation fails to include both the working capital and capital expenditures necessary to sustain the company’s operations
Explanation:
Free Cash Flow (FCF) can simply be defined as the net flow for a company after taking account of cash operating expenses, taxes (some textbooks may omit this), and investments in working capital and capital expenditure required to sustain continuous business operations.
As such, an appropriate formula for FCF would be:
sales revenue - cash operating cost (this will exclude depreciation) - operating taxes - investment in working capital - capital expenditure.
Tyler's formula did not include investment in working capital and capital expenditure, thus making it incomplete.
Compute interest and find the maturity date for the following notes. (Round answers to 0 decimal places, e.g. 825) Date of Note Principal Interest Rate (%) Terms (a) June 10 $80,000 6% 60 days (b) July 14 $50,000 7% 90 days (c) April 27 $12,000 8% 75 days
Answer and Explanation:
The computation of the interest and the maturity date is shown below:
a.
= Principal × rate of interest × given days ÷ total days
= $80,000 × 6% × 60 days ÷ 360 days
= $800
The Maturity date is August 9
b.
= Principal × rate of interest × given days ÷ total days
= $50,000 × 7% × 90 days ÷ 360 days
= $875
The Maturity date is October 12
c.
= Principal × rate of interest × given days ÷ total days
= $12,000 × 8% × 75 days ÷ 360 days
= $200
The Maturity date is July 11
Corentine Co. had $154,000 of accounts payable on September 30 and $133,500 on October 31. Total purchases on account during October were $283,000. Determine how much cash was paid on accounts payable during October. On September 30, Valerian Co. had a $103,500 balance in Accounts Receivable. During October, the company collected $103,890 from its credit customers. The October 31 balance in Accounts Receivable was $91,000. Determine the amount of sales on account that occurred in October. During October, Alameda Company had $104,500 of cash receipts and $105,150 of cash disbursements. The October 31 Cash balance was $19,600. Determine how much cash the company had at the close of business on September 30.
Answer:
Explanation:
a. Accounts Payable
Payments on account $303,500 | Beginning balance $154,000
| Purchases on account $283,000
|
| Ending balance $133500
b. Accounts Receivable
Beginning balance $103,500 | Cash receipts on account $103,890
Sales on account $91,390 |
|
Ending balance $91,000 |
c. Cash
Cash receipts $104,500 | Cash disbursements $105,150
Beginning balance $20,250 |
|
Ending balance $19,600 |
The two-year interest rate is 13.8% and the expected annual inflation rate is 6.9%. a.What is the expected real interest rate
Answer:
Real interest rate= -0.0048= -0.48%
Explanation:
Giving the following information:
The two-year interest rate is 13.8% and the expected annual inflation rate is 6.9%
First, we need to calculate the biannual inflation rate:
Biannual inflation rate= (1+r)^2 - 1
Biannual inflation rate= (1.069^2) - 1
Biannual inflation rate= 0.1428
Now, to calculate the real interest rate, we need to deduct from the nominal interest rate the effect of inflation:
Real interest rate= 0.138 - 0.1428
Real interest rate= -0.0048
The real interest rate is negative. It means that the purchasing power of an investment decrease due to the negative effect of inflation.
The ASQ Quality Glossary defines customer _____ as "the result of delivering a product or service that meets customer requirements.
a. engagement
b. satisfaction
c. enrichment
d. loyalty
Answer: satisfaction
Explanation:
The ASQ Quality Glossary defines customer satisfaction as "the result of delivering a product or service that meets customer requirements.
It should be noted that when the requirements of customers are net with regards to a certain product, the customers are satisfied. Customer satisfaction is necessary to achieve organizational goals. Customer satisfaction leads to happy customers which brings about the growth will of the business.
During the second quarter of Year 1, Barbara's Bakery purchased furnishings (7 year property) at an original cost of $15,000. She did NOT take bonus depreciation or Section 179 expense in the year of purchase. Due to other asset purchases in Year 1, the mid-quarter convention is being used for calculating the depreciation on the furnishings. If Barbara sells the furnishings in October of Year 4 how much can she deduct for depreciation in the year of sale
Answer:
$1,571
Explanation:
MACRS mid-quarter convention for assets placed into service in the second quarter:
year depreciation %
1 17.85%
2 23.47%
3 16.76%
4 11.97%
5 17.85%
Since Barbara sold the asset before the year's end, she must calculate the depreciation expense using a percentage of total depreciation per year:
depreciation for year 4 = asset's value x 21/24 half months x 11.97% = $1,571.06 ≈ $1,571
On January 1, 2020, Echo Company issued $550,000, 16 year, 9%, annual, callable bonds for $475,000. On December 31, 2025, Echo Company redeemed (called) the bonds at 102. REQUIRED: 1. Prepare the Journal Entry to record the Issuance of the Bond 2. Determine the amount of the Discount/Premium that is still not amortized (using the Straight-Line Method) 3. Prepare the Journal Entry to record the Retirement (Redemption) of the Bond.
Answer:
1. Prepare the Journal Entry to record the Issuance of the Bond
January 1, 2020, bonds issued at a discount
Dr Cash 475,000
Dr Discount on bonds payable 75,000
Cr Bonds payable 550,000
2. Determine the amount of the Discount/Premium that is still not amortized (using the Straight-Line Method)
total bond life = 16 years, 5 years have passed
amortization of bond discount per coupon payment = $75,000 / 16 = $4,687.50
so $51,562.50 have not been amortized yet
3. Prepare the Journal Entry to record the Retirement (Redemption) of the Bond.
Before being able to redeem the bonds, the remaining discount must be amortized:
December 31, 2025, amortization of bond discount
Dr Interest expense 51,562.50
Cr Discount on bonds payable 51,562.50
the journal entry to record the redemption of the bonds
December 31, 2025, bonds redeemed at a loss
Dr Bonds payable 550,000
Dr Loss on retirement of debt 11,000
Cr Cash 561,000
How much must you deposit in a bank account today to have $1,000 at the end of 5 years if the bank quotes a rate of 5%, compounded daily? Assume a 365-day year and round your answer to the nearest dollar.
Answer:
PV= $774.54
Explanation:
Giving the following information:
Future value= $1,000
Number of periods= 5*365= 1,825 days
Interest rate= 0.05/365= 0.00014
To calculate the initial investment, we need to use the following formula:
PV= FV / (1+i)^n
PV= 1,000 / (1.00014^1,825)
PV= $774.54
Vriend Software Inc.’s book value per share is $12.37. Earnings per share is $1.68, and the firm’s stock trades in the stock market at 2.5 times book value per share. What will the P/E ratio be? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
Answer:
18.41
Explanation:
Vriend software incorporation has a book value of $12.37
The earnings per share is $1.68
The firm stock trade in the stock market is 2.5 times
The first step is to calculate the price
= 2.5 × book value
= 2.5 × 12.37
= 30.93
Therefore the P/E ratio can be calculated calculated as follows
= price/earnings per share
= 30.93/1.68
= 18.41
Hence the P/E ratio is 18.41
Which phrase best describes a country's monetary base?
Answer: all money in circulation throughout the economy
Explanation: apex
Answer:
all money in circulation throughout the economy
Explanation:
Which of these is an acceptable less hazardous method of cleaning than solvents?
A. Using disposable wipes B. Using a dishwasher C. Using a water hose D. Mechanical cleaning
Answer:
D
Explanation:
An Acceptable and less hazardous method of cleaning than the use of chemical solvents is D. Mechanical cleaning.
Mechanical cleaning involves the use of sandpaper, abrasives, or other cleaning devices. This implies that large quantities of chemical solvents are not used.
Disposable wipes contain chemical solvents. Sometimes, the wipes are littered or improperly disposed of, thereby contaminating the environment.
Dishwashers use chemical solvents. Otherwise, they are just electro-mechanical devices for washing food dishes and other utensils.
A water hose used for cleaning must combine some chemical solvents to achieve cleaning effects.
Thus, the only solvent-free and less hazardous method of cleaning is Mechanical Cleaning.
Learn more about mechanical cleaning here: https://brainly.ph/question/8504944
Two methods can be used for producing solar panels for electric power generation. Method 1 will have an initial cost of $550,000, an AOC of $160,000 per year, and $125,000 salvage value after its 3-year life. Method 2 will cost $830,000 with an AOC of $120,000, and a $240,000 salvage value after its 5-year life. Assume your boss asked you to determine which method is better, but she wants the analysis done over a 3-year planning period. You estimate the salvage value of method 2 will be 35% higher after 3 years than it is after 5 years. If the MARR is 10% per year, which method should the company select?
Answer:
method 1 should be selected.
Explanation:
for method 1:
p = 550000
a = 160000
s = 125000
I = 10%
n = 3 years
aw = -550000(a/p, 0.10,3)-160000+125000(a/f,0.10,3)
= -550000(0.4021)-160000+125000(0.3021)
= -221155-160000+37762.5
= -343.392.5 dollars
for method 2:
salvage value = 240000x1.35
= 324000
p= 830000
a = 120000
s = 324000
I = 0.10 or 10%
n = 3
aw = -830000(a/p,0.10,3)-120000+324000(a/f,10%,3)
= -830000(0.4021)-120000+324000(0.3021)
= -333743-120000+97880.4
= -355862.6 dollars
after comparing both values, method 1 is better
Freeze Corporation uses the lower of cost or net realizable value method to write down inventory. Freeze determines that the inventory should be written down by $1,000. The effect on the financial statements is to ______.
Answer:
The journal entry to record the write down is:
Dr Cost of goods sold 1,000
Cr Inventory 1,000
Since cost of goods sold increases, then net income (income statement) will decrease. A decrease in net income will also result in lower retained earnings (balance sheet).
If charlie's utility function where x^2a xb, the price of apples were pA, the price of bananas were pB, and his income were m, then Charlie's demand for apples would be:______.
a. 0.67m/pA.
b. 0.50pAm.
c. ml(pA + pB).
d. m/(2pA).
e. 1.50pBm/pA.
Answer and Explanation:
Please find attached
The government sets a minimum wage above the current equilibrium wage. What effect does the minimum wage have on equilibrium in the labor market? What are its effects on consumer surplus, producer surplus, and total surplus in the labor market? (Hint: in the labor market, workers are 'producers' and firms are 'consumers'.)
Question Completion:
A binding minimum wage
▼
does not change
raises
lowers
the market wage and
▼
increases
decreases
does not change
the market employment level.
Answer:
A binding minimum wage
▼
raises
the market wage and
▼
decreases
the market employment level.
Explanation:
This action of the government of setting the minimum wage above the current equilibrium wage will disrupt the equilibrium of labor demand and supply. Certainly, more labor will be available (the supply side will increase) while the demand for labor by firms or labor consumers will decrease. This reflects the market dynamics caused by the increased price (in the form of increased minimum wage) and the quantities of labor supplied and demanded.
If a firm averages $2,000 in daily credit sales and offers 60-day terms, the average accounts receivable balance will be $120,000.
a. True
b. False
Answer:
a. True
Explanation:
The computation of the average accounts receivable balance is shown below:
= Daily credit sales × day terms
= $2,000 × 60 days terms
= $120,000
We simply multiplied the average amount with the day term so that the average account receivable balance could come
Hence, the given statement is true
Therefore the correct option is a.
At the beginning of 2015, Elixir Inc. has the following ledger balances:During the year, credit sales amounted to $800,000. Cash collected on credit sales amounted to $760,000 and $18,000 has been written off. At the end of the year, company adjusted for bad debts expense using the percent-of-sales method and applied a rate, based on past history, of 2.5%. The ending balance in the Allowance for Bad Debts would be ________. Prepare all necessary journal entries.
Answer:
$$7,000
Explanation:
Calculation for the ending balance in the Allowance for Bad Debts
Using this formula
Allowance for Bad Debts Ending balance =
Debts - Write offs + Bad Debt Expense
Let plug in the formula
Allowance for Bad Debts Ending balance= $5,000 - $18,000 + (2.5%*$800,000)
Allowance for Bad Debts Ending balance= $5,000 - $18,000 + $20,000
Allowance for Bad Debts Ending balance = $$7,000
Therefore the ending balance in the Allowance for Bad Debts would be $7,000
Mr. C made the following gifts: $12,000 to a university to pay tuition costs for his niece. An undeveloped tract of land to his sister that had an adjusted basis to Mr. C of $4,000 and a fair market value of $25,000. Various shares of stock to his wife that had an adjusted basis to Mr. C of $15,000 and a fair market value of $40,000. Mr. C did not consent to gift-splitting. What is the total amount of taxable gifts
Answer:
$10,000
Explanation:
Gifts are only taxed when their fair market value is higher than $15,000. Any gifts made to your spouse are not taxable. Gift taxes are calculated on a per person base, as long as they do not exceed the lifetime exemption (which is $11.58 million).
The tuition costs of her niece are not taxable since they are less than $12,000. The stocks given to his wife are not taxable either. The only taxable gift is the land given to his sister which had a FMV of $25,000. The taxable amount = $25,000 - $15,000 = $10,000
Cutter Enterprises purchased equipment for $54,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $8,400. Using the double-declining-balance method, depreciation for 2021 and the book value at December 31, 2021, would be:_______
Answer:Book value at December 31, 2021 =$32,400
Explanation:
using double declining balance method
Depreciation expense = 2×Straight-line depreciation percent ×Book value
Given value of machine = $54,000
Residual value = $8,400
Expected life = 5 years
But
straight line depreciation percent = 100% /5years = 20%
Depreciation expense = 2×Straight-line depreciation percent ×Book value
= 2*20% x$54,000 = 40% x $54,000=$21,600
or
Depreciation expense by double declining = depreciation rate x cost of equipment
but depreciation rate = 1/estimated useful life x 2= 1/5 x 2= 2/5 x100% =40%
= 40% x $54,000= $21,600
Book value at December 31, 2021, = Purchase cost - depreciation expense
=$54,000 - $21,600=$32,400
Business is booming for Cargill Company, so the firm has decided to expand its operations internationally. The company will sell new shares of common stock using a general cash offering in order to raise the $16.8 million it needs to fund its overseas expansion. Cargill's investment bankers agreed to a spread of 7.85 percent, the administrative costs will be $515,000, and the offer price will be $21 per share. How many shares of stock must be sold for Cargill to receive the expansion funds it needs
Answer:
894,763 stocks
Explanation:
total flotation costs = 7.85% of total stocks issued + $515,000
the corporation will receive $21 x (1 - 7.85%) = $19.3515 per stock issued
$16,800,000 = $19.3515X - $515,000
$17,315,000 = $19.3515X
X = $17,315,000 / $19.3515 = 894,762.68 ≈ 894,763 stocks
Braden Corp. uses a process costing system. Beginning inventory for January consisted of 1,600 units that were 69% completed. 10,000 units were started into the process during January. During January, 11,300 units were completed. How many units were in ending inventory on January 31?
Answer:
Ending inventory = 300 units
Explanation:
The formula for calculating ending inventory is given as follows:
Ending inventory = (Beginning inventory + units started into process) - (completed units)
Ending inventory = (1,600 + 10,000) - (11,300)
Ending inventory = 11,600 - 11,300
Ending inventory = 300 units
Note, the percentages completed are distractor information
Category of cost not associated from the extension of credit and accounts receivable is
A: Capital costs
B: Delinquency costs
C: Direct costs
D: Default costs
Answer:
A.Capital costs
Explanation:
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You business sells widgets to customers. On May 1, you purchase 50 widgets at $4 each from your widget supplier. During May You sell 37 widgets to your customers for $10 each. What is the Cost of Goods Sold for May
Answer:
COGS= $148
Explanation:
Giving the following information:
Purchase= 50 widgets at $4 each
Sales= 37 widgets
To calculate the cost of goods sold, we need to use the following formula:
COGS= beginning finished inventory + cost of goods purchased - ending finished inventory
COGS= 0 + 50*4 - 13*4
COGS= $148
4. Sectoral shifts, frictional unemployment, and job searches Suppose the world price of steel falls substantially. The demand for labor among steel-producing firms in Pennsylvania will . The demand for labor among automobile-producing firms in Michigan, for which steel is an input, will . The temporary unemployment resulting from such sectoral shifts in the economy is best described as unemployment. Suppose the government wants to reduce this type of unemployment. Which of the following policies would help achieve this goal? Check all that apply. Improving a widely used job-search website so that it matches workers to job vacancies more effectively Establishing government-run employment agencies to connect unemployed workers to job vacancies Increasing the benefits offered to unemployed workers through the government's unemployment insurance program
Answer:
decrease
increase
structural unemployment
Improving a widely used job-search website so that it matches workers to job vacancies more effectively
Establishing government-run employment agencies to connect unemployed workers to job vacancies
Explanation:
If the world price of steel falls, the profits that can be earned from producing steel would fall. This would make steel-producing firms cutback on production. If they do this, they would lead less labour, so the demand for labour would fall.
The decrease in the price of steel would make purchasing steel by automobile companies cheaper. This would lead to a rise in production and as a result an increase in the demand for labour.
Structural unemployment occurs when there is a mismatch between the skills of labour and the jobs available. Measures taken to increase information on available jobs would reduce this type of unemployment
Assume that a Parent owns 80 percent of a Subsidiary that has 6 percent preferred stock outstanding with a reported par value of $720,000. Aside from the preferred dividends, no other dividends are paid (i.e., no dividends are paid to the common shareholders). The Parent owns none of the preferred stock. Assume that the Subsidiary reports net income of $117,000. During the year, the Parent company reported $261,000 of (pre-consolidation) income from its own operations (i.e., prior to any equity method adjustments by the Parent company). Compute the amount of consolidated net income attributable to the noncontrolling interest and the amount of net income attributable to the controlling interest.
Answer:
Consolidated net income attributable to the noncontrolling interest $14,760
Consolidated net income attributable to the controlling interest $320,040
Explanation:
Computation of the amount of consolidated net income attributable to the noncontrolling interest and the amount of net income attributable to the controlling interest.
CONSOLIDATED NET INCOME attributable to the noncontrolling interest
First step is to find the Divide amount
Dividend =6% x $720,000
Dividend= $43,200
Second Step is to find the Net Income from Subsidiary
Net Income from Subsidiary= $117,000-$43,200
Net Income from Subsidiary=$73,800
Last step is to calculate consolidated net income attributable to the noncontrolling interest
Noncontrolling interest =$73,800 x 20%
Noncontrolling interest = $14,760
NET INCOME attributable to the controlling interest
First step is to find the controlling interest amount
Controlling interest=80% x $73,800
Controlling interest= $59,040
Last step is to find the Parent company income
Parent company income= $261,000 + $59,040
Parent company income= $320,040
Therefore Consolidated net income attributable to the noncontrolling interest is $14,760 while the Consolidated net income attributable to the controlling interest is $320,040
Prescott Bank offers you a five-year loan for $53,000 at an annual interest rate of 7.75 percent. What will your annual loan payment be
Answer:
$13,186.84
Explanation:
Use the Time Value of Money Techniques to Solve the Problem
Pv = $53,000
N = 5
i = 7.75 %
Fv = $ 0
P/yr = 1
Pmt = ?
Using a Financial Calculator, the annual loan payment (Pmt) is $13,186.84.
How much cash would Deere have to pay to repurchase the 6.55% debentures at the quoted market price of 108.104
Answer: $216.208 million
Explanation:
It should be noted that the bonds are being traded at a premium which ch is the quoted market price of 108.104.
Due to this, to retire the bonds, Deere would pay more than the carrying value. Therefore, the cash outflow would be calculated as:
= $200 million × 108.104%
= $200 million × 1.08104
= $216.208 million
This would lead to a loss of: ($216.208 million - $200 million = $16.208 million) in debentures repurchase.
The answer is $216.208 million
