Answer:
Explanation:
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On December 31, 2017, Extreme Fitness has adjusted balances of $800,000 in Accounts Receivable and $55,000 in Allowance for Doubtful Accounts. On January 2, 2018, the company learns that certain customer accounts are not collectible, so management authorizes a write-off of these accounts totaling $10,000. What amount would the company report as its net accounts receivable on December 31, 2017
Answer:
Accounts receivable is $745,000
Explanation:
The company would report as net receivable, the total amount on accounts receivable minus total amount on the Allowance for uncollectible Accounts, which implies that the balance represent the amount of credit that will not be possible to collect again hence, the value represent balance on net accounts receivable.
Accounts receivable = Adjusted balance in accounts receivable - Allowance for doubtful accounts
= $800,000 - $55,000
= $745,000
Megan and Steve have found a home they want to purchase. The selling price is $320,000. They will put 20% down and get a 30 year, 6% APR, monthly payment mortgage. Insurance is $1,800 per year and taxes are $3,000 per year. What is their monthly PITI?
a. $1,684.85
b. $1,784.85
c. $1,934.85
d. $1,534.85
Answer:
c. $1,934.85
Explanation:
given data
selling price is $320,000
down payment = 20 %
APR r = 6% = 0.005 monthly
Insurance amount i = $1,800 per year
taxes T = $3,000 per year
Total time period n = 30 year = 360 months
solution
first we get here Principal Amount on the Loan that is
P = $320,000 - 20% down payment
P = $320,000 - $64,000 = $256,000
and now we get here Monthly PITI Payment that is express as
C = [tex]\frac{r\times P }{1-(1+r)^{-n}} + \frac{T}{12} + \frac{i}{12}[/tex] ...............1
C = [tex]\frac{0.005 \times 256000 }{1-(1+0.005)^{-360}} + \frac{3000}{12} + \frac{1800}{12}[/tex]
so The Monthly Payment is $1934.85.
correct answer is c. $1,934.85
Mr. Ghani wants to deposit his savings of Rs. 50,000 in a bank which offers 8% interest compounded semi-annually to withdraw Rs. 2,500 at the end of each six months from the date of deposit. How many withdrawals will he or his heir (in case of his death) be able to make before the entire amount is exhausted
Answer:
How many withdrawals will he or his heir (in case of his death) be able to make before the entire amount is exhausted is explained below in detail explanation.
Explanation:
Let the no of withdrawals be n, then
Present value of n withdrawals = 50000
Interest rate per 6 months =8%/2 =4%
Withdraw amt/(Int rate)*(1-1/(1+interest)^n) = 50000
=> 2500/0.04*(1-1/1.04^n) = 50000
1/1.04^n = 0.2
1.04^n = 5
=> n = ln(5) / ln(1.04) = 41.03
Total 41 withdrawals of Rs.2500 can be made (with a smaller 42nd installment of less than Rs.2500)
Goals set for and by first-line managers are called _____ goals.
po
Additional Activities
Activity 5 - 3
Business
Transactions
corresponding transactions.
TRANSACTIONS
VALUE RECEIVED
VALUE PARTED
WITH
debt or obligation
1.
delivery truck
cash
2.
furniture
cash
3.
right to occupy space
service
receivable
4.
cash
service of employees
5.
Indicated below is an exchange of values. Briefly describe the
Answer:
ok
Explanation:
Scribe Company reports net sales of $800,000, gross profit of $560,000, and net income of $230,000. What are its operating expenses?
Explanation:
we should use income statement to find the new profit and the gross profit first then we can find out the expenses while doing it down on the statement anything which had written expenses is expenses.
Your company has net sales revenue of $50 million during the year. At the beginning of the year, fixed assets are $22 million. At the end of the year, fixed assets are $24 million. What is the fixed asset turnover ratio
Answer:
Fixed assets turnover= 2.17
Explanation:
Calculation for The fixed assets turnover
Using this formula
Fixed assets turnover = Net Sales Revenue / Average Fixed Costs
Let plug in the formula
Fixed assets turnover = $ 50 Million / [ ( $ 22Million + $ 24Million) /2]
Fixed assets turnover =$ 50 Million / ($46Million /2)
Fixed assets turnover=$ 50 Million / $23 Million
Fixed assets turnover= 2.17
Therefore Fixed assets turnover will be 2.17
- How would demand have to change for a price change to be unitary elastic?
Answer:
The percentage change in quantity demanded is exactly equal to the percentage change in price. The percentage change in quantity demanded is exactly equal to the percentage change in price.
Suppose you will receive a payment of $300 one year from now. True or False: If during the year the interest rate rises, this increases the present value of your future payment. True False
Answer:
False
Explanation:
When value of money is evaluated over time, the interest rate is put into consideration.
Present value of future cash flows of a loan is an estimate of how much will be paid on a certain amount given a specific interest rate over a period of time.
So if there is a fall in interest rate it means that less of the original amount is being discounted, so present value increases.
On the other hand when interest rate increases more of original amount is discounted. So the present value reduces.
In the given scenario when you receive a payment of $300 one year from now and during the year the interest rate rises, this reduces the present value of your future payment
Jim had a car accident in 2019 in which his car was completely destroyed. At the time of the accident, the car had an adjusted basis of $40,000. Jim used the car 100% of the time for business use. He received an insurance recovery of 70% of the value of the car at the time of the accident. If Jim’s AGI for the year is $60,000, determine Jim's deductible loss on the car.
Answer:
the deductible loss on the car is $12,000
Explanation:
The computation of the Jim deductible loss on the car is shown below:
Given that
Car value = $40,000
Insurance recovery = 70%
Now the deductible loss is
= Car value - (car value × insurance recovery)
= $40,000 - ($40,000 × 70%)
= $40,000 - $28,000
= $12,000
hence, the deductible loss on the car is $12,000
Stanley Hart invested in a municipal bond that promised an annual yield of 6.7 percent. The bond pays coupons twice a year. What is the effective annual yield (EAY) on this investment? (Round percentage to two decimal places.) 13.4% 6.81% 6.70% None of the above
Answer:
the effective annual yield (EAY) on this investment is 6.81%
Explanation:
The computation of the effective annual yield is shown below:
= (1 + rate of interest ÷ number of compounding period)^number of compounding period - 1
= (1 + 0.067 ÷ 2) ^2 - 1
= 6.81%
Hence, the effective annual yield (EAY) on this investment is 6.81%
We simply applied the above formula so that the correct value could come
And, the same is to be considered
A firm receives a cash flow from an investment that will increase by 10 percent annually for an infinite number of years. This cash flow stream is called:
a. an annuity due.
b. a growing perpetuity.
c. an ordinary annuity.
d. a growing annuity.
Answer:
b. a growing perpetuity.
Explanation:
As we know that an annuity is a stream of the cash flow that goes for the limited time period i.e. number of years
But in the case of perpetuity it would go for an infinite time period
Since in the question the cash flow arises from an investment rises by 10% for an infinite number of years so this represents the growing perpetuity
Hence, the correct option is b.
What risks do you think you would face if you were a successful manager in a large organization who suddenly had an offer to go into business for yourself? Why do you think Treadwell decided to become a multi-brand franchisee instead of staying with KFC?
Answer: I would consider the risk, factor of starting a new market and seeing it become better.
Treadwell decided to become a multi-brand franchise instead of staying with KFC,because he gained a full understanding of the retail fast food industry.
Explanation:
Starting a new business requires a lot of patience, strategic planning, funds, and a lot of policies to put in place. As a manager coming from a bank of exposure, you would be experienced but it would still require you building a brand, which isn't easy as you'll have to face completions from already existing marketers, but the right policy, good competitive edge would set you up for the best, but would need a lot of work.
Treadwell decided to become a multi-brand franchise instead of staying with KFC,because he gained a full understanding of the retail fast food industry. His experience revolved around how the corperate structure works, branding and what sets the motion for the organization. This were well enough for him to handle a brand for himself
What is INCOTERM DDP?
Answer:
DDP stands for Delivery Duty Paid, an international commerce term (Incoterm) used to describe the delivery of goods where the seller takes most responsibility.Explanation:
both retail and business banks are important to the US economy because they
Answer:
Retail businesses are important because they provide millions of jobs in the United States. According to the most recent figures, almost 10 million Americans work in retail, from cashiers to store vendors, to low-level clerks.
Business banks are important because they provide much needed deposit services and credit to businesses and individuals. The modern economy would not work without banking, and this is why the banking sector is highly regulated by the government, and often rescued in times of economic crisis.
Answer: B. Use deposits to provide loans and financing
Explanation:
A.P.E.X
What federal agency or agencies is/are responsible for: _______
a. regulating labor-management relations in the airlines.
b. regulating price-fixing and other anti-competitive practices in aviation and aerospace.
c. operating the air traffic control system.
d. regulating labor-management relations in the aerospace industry.
e. research and development in aerodynamics and aviation technology.
The next dividend payment by ASAP, Inc., will be $2.00 per share. The dividends are anticipated to maintain a 4.00% growth rate, forever. If ASAP stock currently sells for $14.75 per share, what is the required return?
Answer:
r = 0.175593 or 17.5593% rounded off to 17.56%
Explanation:
Using the constant growth model of dividend discount model, we can calculate the price of the stock today. The DDM values a stock based on the present value of the expected future dividends from the stock. The formula for price today under this model is,
P0 = D1 / (r - g)
Where,
D1 is dividend expected for the next period /year g is the growth rate r is the required rate of return
Plugging in the values for D1, P0 and g, we can calculate the value of r to be,
14.75 = 2 / (r - 0.04)
14.75 * (r - 0.04) = 2
14.75r - 0.59 = 2
14.75r = 2 + 0.59
r = 2.59 / 14.75
r = 0.175593 or 17.5593% rounded off to 17.56%
What is the value of a stock that is expected to pay a constant dividend of $2 per year if the required return is 15%
Answer:
the value of the stock is $13.33 per share
Explanation:
The computation of the value of the stock is shown below:
The Value of the stock is
= Constant annual dividend ÷ required rate of return
= $2 ÷ 0.15
= $13.33 Per share
Hence, the value of the stock is $13.33 per share
We simply applied the above formula so that the correct value could come
And, the same is to be considered
Zimmerman Corp. had 1,500 units of part M.O. on hand May 1, 2020, costing $21 each. Purchases of part M.O. during May were as follows.
Units Unit Cost
May 9 2,000 $22.00
17 3,500 23.00
26 1,000 24.00
A physical count on May 31, 2020, shows 2,000 units of part M.O. on hand. Using the FIFO method, what is the cost of part M.O. inventory at May 31, 2020?
Answer:
Zimmerman Corp
Using the FIFO method, the cost of part M.O. ending inventory at May 31, 2020 is
$47,000
Explanation:
a) Data and Calculations:
Date Items Units Unit price Total
May 1, 2020 Beginning inventory of M.O. 1,500 $21.00 $31,500
May 9 Purchases 2,000 22.00 44,000
May 17 Purchases 3,500 23.00 80,500
May 26 Purchases 1,000 24.00 24,000
Total 8,000 $180,000
May 31 Ending inventory 2,000
Valuation of ending inventory under FIFO:
Ending inventory = (1,000 * $24) + (1,000 * $23) = $47,000
Cost of goods sold = ($180,000 - $47,000) = $133,000
Under the FIFO method of inventory valuation, it is assumed that goods sold are from the ones put in store first. This means that the earlier purchased goods are sold first before the later ones. Therefore, the ending inventory is always from the inventories that are newly purchased.
Consumer Goods Corporation sells products that are poorly made. Tina, who has never bought a product from Consumer Goods, files a suit against the firm alleging that its products are defective. The firm could ask for dismissal of the suit on the basis:
Answer: Tina doesn't have a standing
Explanation:
From the information given in the question, we are told that Consumer Goods Corporation sells products that are poorly made.
We are further told that Tina, who has never bought a product from Consumer Goods, files a suit against the firm alleging that its products are defective.
The firm could ask for dismissal of the suit on the basis that Tina doesn't have a standing. This is because Tina has never bought their goods before and therefore shouldn't be alleging that the product of the company is bad. Assuming Tina has bought their products before, then it'll have been harder for the firm to ask for dismissal.
Based on this case, why is it necessary to have laws related to sharing confidential information? to prevent businesses from manufacturing competing products O to prevent businesses from filing frivolous, time- wasting lawsuits O to prevent businesses from using ideas generated at another company O to prevent businesses from hiring employees from other companies
Answer: Cardi b...jk its C
Explanation:Edge.2020
It necessary to have laws related to sharing confidential information to prevent businesses from using ideas generated at another company. Thus option C is correct.
What is a law?The exact meaning of law is up for debate, but it is generally understood to be a collection of rules that are made and enforced by social or governmental bodies to control behavior. It has been called both a science and also the practice of justice in diverse contexts
Internal business maintain communication between the firm owner and another person is referred to be secret and either cannot or should never be disclosed to a third party.
This alone without boss's express permission. information essential to a business' activities that can only be learned inside that business. Therefore, option C is the correct option.
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Will mark
Which type of advertising does a business use to enhance its image in the market and society?
Through (__________) advertising, businesses try to enhance their reputation in the market as well as society.
Answer:
Sales
Explanation:
Answer:
institutional
Explanation:
Just took test
institutional advertising to promote the reputation and image of your business. Such advertising does not focus on your offerings to customers
Annyeonghaseyo, I have 1000+ followers in my Indian account Coz I'm an Indian, if you don't believe, then watch my following. This is just aI wanted to say.
Answer:
but annyeonghaseyo is a korean greeting ?
Ron is ready to purchase a house that costs $300,000. He wants the minimum LTV to avoid PMI. He qualifies for a 15-year fixed-rate loan at 4.5%, what is the total finance charges?
A) $80,890
B) $90,500
C) $90,150
D) $90,900
Answer:
B) $90,500
Explanation:
Minimum LTV to avoid PMI is 80% of house cost
Value of home = 300,000
Loan = 80%*300,000 = 240000
Monthly installments = -PMT(N, I/Y, Loan)
Monthly installments = -PMT(4.5%/12,15*12,240000)
Monthly installments = $1,835.98
Total repayment over 180 months $330,477.10
Less: Loan value $240,000
Finance Charges $90,477.10
The total amount of finance charges is $90,500 when Ron wants the minimum LTV (loan to value) to avoid PMI (partial molar volume).
Option B is correct.
What are finance charges?Finance charges are the number of fees that are charged for the use of money or for the expansion of the existing credit.
It may be a percentage of borrowing or also may be flat-free, but it is also computed on the basis of a percentage.
Computation of finance charges:
According to the given information,
Minimum LTV to avoid PMI = 80% of house cost.
Home's value = 300,000
Then, the total amount of the loan is:
[tex]\text{Loan} =\text{Minimum LTV Rate} \times \text{Value of Home}\\\text{Loan} =80\% \times \$300,000\\ \text{Loan} = \$240,000[/tex]
Now, the monthly repayment installments are:
[tex]\text{Monthly Installments} = \rm{PMT(\dfrac{N}{12} \times {I}\times{Y} \times Loan)}\\\\\text{Monthly Installments} =\text{PMT}( \dfrac{4.5\%}{12}\times \dfrac{15\%}{12}\times \$240,000)\\\\}\\\text{Monthly Installments} =\$1,835.98[/tex]
Total repayment over 180 months:
[tex]=\text{Monthly Payments} \times 180 {\text{Months}}\\=\$1,835.98 \times 180\\= \$330,477.10[/tex]
Then the finance charges will be:
[tex]\text{Finance Charges} = \text{Total Repayment - Loan Amount}\\\text{Finance Charges} =\$330,477.10 - \$240,000\\\text{Finance Charges} = \$90,477.10[/tex]
Therefore, option B is correct.
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is purchasing today a new Lamborghini for $140000 and the finance office at the dealership is quoting an APR of 7.32 compounded monthly for an eight year loan in order to buy the car If her first payment is one month from today what will her monthly payment be over the period of the loan What is the Effective Annual Rate of the loan
Answer:
7.57%
Explanation:
The formula for effective annual rate is provided below which forms the basis for determining the effective annual rate:
effective annual rate=(1+APR/m)^m-1
APR=annual percentage rate=7.32%
m=number of times in a year that is the interest is compounded=12
effective annual rate=(1+7.32%/12)^12-1
effective annual rate=(1+0.0061 )^12-1
effective annual rate=1.075706488 -1
effective annual rate=7.57%
What media format provides ads that do not disappear from sight or hearing
within a matter of moments?
A. Loud speaker announcements
B. Print publications
C. Television
O D. Radio
SUBMIT
Answer:
B. Print Publications
Explanation:
Speaker announcements, television, and radio ads disappear after the ad is done. But, printed ads stay on the paper.
Print publications media format provides ads that do not disappear from sight or hearing within a matter of moments. The correct option is B.
Why is print advertisement important?Print advertisements enable businesses to reach out to these consumers and market their products or services. Print ads are ideal for local businesses: Print ads can be used by local businesses to target consumers in their area. This is an excellent strategy to raise brand recognition and gain the trust of potential customers.
Print advertising refers to advertisements that are printed in hard copy in publications that your target audience is likely to read. Benefits: By purchasing an advertisement in a large circulation magazine, you boost your chances of reaching a large audience.
Thus, the ideal selection is option B.
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Which of the following are likely to be examples of perfect competition where the seller is a price taker? (There is more than one correct answer - select all.) Porsche selling its cars. Lachelle selling 100 shares of stock. A farmer selling 100 bushels of corn. An art collector selling a Picasso. Apple selling a new watch. A local dairy farmer selling milk.
Answer:
The correct answers are:
Lachelle selling 100 shares of stock
A farmer selling 100 bushels of corn
A local dairy farmer selling milk
Explanation:
To begin with, a perfect competition market is the one whose characteristics are the following: to have an homogeneous product; to have a lot of consumers and sellers as well so that they both are price takers given the forces of the market; to have transparent and clean information available for every consumer; there are not legal barriers at the entry or either at the exit for the companies.
Secondly, those situation are given in a perfect competitive market because they all have those characteristics. They are markets with homogeneous products and a lot of sellers and consumers as well.
g Mr. Clark owns a property he bought for $1,000,000. The land was valued at $220,000 and the structure was valued at $780,000. What is the adjusted cost basis of the property after eight years of ownership using a 39 year depreciable life
Answer:
$820,000
Explanation:
Land is not depreciable, so you must always report it at historical cost value.
You can depreciate the building, the depreciation expense per year = $780,000 / 39 years = $20,000
accumulated depreciation after 8 years = 8 x $20,000 = $160,000
cost basis of the property = $220,000 + ($780,000 - $180,000) = $220,000 + $600,000 = $820,000
What is the standard for determining how well marketing works in a free
market economy?
O A. The marketing mix
B. Producers of goods and services
C. Government legislation
O D. Consumer satisfaction
Answer:
D. Consumer satisfaction is your answer.
Explanation:
CSAT, or customer satisfaction, is a marketing word that is commonly employed. It evaluates whether a company's goods and services meet or exceed customers' expectations. Hence Option D is Correct .
What is Consumer Satisfaction ?A customer's reported experience with a company, its products, or its services (ratings) is described as "the number of customers, or percentage of total customers, whose reported experience exceeds stated satisfaction goals."
Customers have a crucial part in maintaining the usefulness of a good or service, thus it is in the interest of the company to assure customer satisfaction and foster client loyalty.
As part of its ongoing Common Language in Marketing Project, the Marketing Accountability Standards Board (MASB) supports the definitions, goals, and metrics found in Marketing Metrics. In a poll ofA customer satisfaction statistic was recognized as being extremely helpful by 71 percent of the roughly 200 senior marketing managers who answered.
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# SPJ 5
Many government programs that define eligibility for benefits based on recipients' income are referred to as:_______
a. conditional transfers.
b. means-tested.
c. cash transfers.
d. in-kind transfers.
Answer:
b. means-tested.
Explanation:
The government programs that represents the eligibility with respect to the benefits that depend upon the person who received the income is known as the mean tested. In this the low income should be considered. There are various examples like food stamps, subsidiaries of the houses, etc
Therefore the option b is correct
And, the other options are wrong
