You are looking at a one-year loan of $26,000. The interest rate is quoted as 11 percent plus two points. A point on a loan is 1 percent (one percentage point) of the loan amount. Quotes similar to this one are common with home mortgages. The interest rate quotation in this example requires the borrower to pay two points to the lender up front and repay the loan later with 11 percent interest.
What rate would you actually be paying here? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
Interest rate %

Answers

Answer 1

Answer:

the rate of interest is 13.27%

Explanation:

The computation of the actual rate paid is shown below;

Present value is

= $26,000 - 2% of $26,000

= $26,000 - $520

= $25,480

The future value is

= $26,000 × (1 + 0.11)

= $28,860

Now as we know that

Future value = Present value × (1 + rate of interest)^number of years

$28,860 = $25,480 × (1 + rate of interest)

So, the rate of interest is 13.27%


Related Questions

An investor, who believes the economy is slowing down, wishes to reduce the risk of her portfolio. She currently owns 12 securities, each with a market value of $3,000. The current beta of the portfolio is 1.21 and the beta of the riskiest security is 1.62. What will the portfolio beta be if the riskiest security is replaced with a security of equal market value but a beta of 0.80

Answers

Answer:

1.14

Explanation:

Investors has number of securities = 12

Each with a market value = $3,000

Current beta of the portfolio (before replacement of riskiest security ) = 1.21

Beta of the riskiest security= 1.62

If the riskiest security is replaced = 0.80

Portfolio Beta before replacement of the riskiest security = Remaining number of securities / total number of securities * Beta of securities + Number of riskiest security / total number of securities * Beta of the riskiest security

Portfolio Beta before replacement of the riskiest security = Weight of securities*Beta of securities + Weight of riskiest security*Beta of riskiest security

Let the beta of securities be x.

1.21 =11/12 *x + 1/12 *1.62

1.21 =11/12 *x +0.135

1.21-0.135 = 11/12 x

1.075 =11/12 x

x = 1.075*12/11

x = 1.1727

Beta of securities = 1.17

Portfolio beta after the replacement of the riskiest security = 11/12*1.17 +1/12*0.8 = 1.0725 + 0.0666 = 1.1391 = 1.14


2. What are the ways of forecasting cost of sales?
a. cost of materials
b. cost of labor
c. cost of overhead
d. all of the choices​

Answers

Answer:

d. all of the choices​

Explanation:

Cost of Goods sold = Cost of material purchased + Conversion cost

And

Conversion cost hereby includes Direct labor cost and other production overheads directly attributable to the Goods sold.

So, The correct option is - d. all of the choices​

Match each variable with the best representation of where it appears in the financial accounting statements. Each is only matched once and some responses might not have a match. - Accounts payable - Change in Accounts Receivable - Change in Notes Payable - Property Plant and Equipment - Revenue - Change in long term debt A. Long Term Liabilities on the Balance Sheet B. The Income Statement C. Current Liabilities on the Balance Sheet D. Financing Segment Statement of Cash flows E. Financing Segment on the Statement of Cash Flows F. Fixed Assets on the Balance Sheet G. Operating Segment on the Statement of Cash Flow

Answers

Answer:

Variable                                           Financial accounting statements.

Accounts payable                           Current liabilities in the balance sheet.

Change in accounts receivable     Operating segment on the statement of

                                                        Cash flows.

Change in note payable                 Financing segment on the statement of

                                                         cash flows.

Property, Plant and Equipment      Fixed assets on the balance sheet.

Revenue                                          The income statement.

Change in long term debt              Investing segment on the statement of

                                                         cash flows.


Which of the following is a reason companies are hiring temporary workers more often than in the past?

A- Temporary employees work harder than permanent employees.

B- Temporary workers are more loyal to the company, thereby making them more productive.

C- Most companies provide temporary workers with very few, if any, benefits.

D- Workers seeking temporary employment are better educated than those seeking permanent employment​

Answers

C temporary workers do not receive any benefits & it save the company money.
the answer for this problem is C

1. What information is provided by the budget? Specifically, what questions can the bank manager ask of the Operations Department
manager?
2. What information does the static budget fail to provide? Specifically, could the budget information be presented differently to
provide even more insight for the bank manager?

Answers

Answer:

Some of the information provided by the budget is...

fixed costs - items such as rent, salaries and financing costs

variable costs - including raw materials and overtime

one-off capital costs - purchases of computer equipment or premises, for example

Some interview questions include:

What would you say is your leadership style?

You have an underperforming team member–how do you handle that?

Your team's morale has been low–how would you go about fixing that?

Tell me about a past project that did not go as planned.

2. One key disadvantage of a static budget is that it is not flexible and so it cannot be changed to take advantage of changes in revenue or expenses as the year proceeds. With a static budget, companies cannot manage the impact of changes, for example, by decreasing a portion of the budget in response to slow sales.

Explanation:

Hopefully this helps!

Reamer Corporation uses a predetermined overhead rate based on machine-hours to apply manufacturing overhead to jobs. The Corporation has provided the following estimated costs for next year: Direct materials $ 1,000 Direct labor $ 3,000 Sales commissions $ 4,000 Salary of production supervisor $ 2,000 Indirect materials $ 400 Advertising expense $ 800 Rent on factory equipment $ 1,000 Reamer estimates that 500 direct labor-hours and 1,000 machine-hours will be worked during the year. The predetermined overhead rate per hour will be:

Answers

Answer:

$3.40 per machine-hour

Explanation:

Calculation for what The predetermined overhead rate per hour will be:

First step is to calculate the Total estimated manufacturing overhead

Manufacturing overhead:

Salary of production supervisor $2,000

Indirect materials $400

Rent on factory equipment$1,000

Total estimated manufacturing overhead $3,400

Now let calculate the Predetermined overhead rate using this formula

Predetermined overhead rate=Total estimated manufacturing overhead/Estimated machine-hours

Let plug in the formula

Predetermined overhead rate=$3,400/1,000

Predetermined overhead rate=$3.40 per machine-hour

Therefore The predetermined overhead rate per hour will be:$3.40 per machine-hour

Help? Its for personal finance.

Answers

Answer:

it's the bottom right

Explanation:

since the groceries have the biggest number it should have the biggest piece and that is the only one that has groceries as the biggest piece of the chart

It’s the bottom I think

Which of these is a characteristic of certificates of deposit (CDs)?

Answers

Answer:

They last for a certain period of time

Explanation:

Typically Certificates of Deposit are offered if the set amount is deposited and kept through the stated amount of time. (The length of the CD can be anywhere from 18 months to 3 years [most popular])  When the money is removed short of the stated time period a penalty is taken from the value of the CD.

Answer:

b.) They last for a set period of time.

The level of analysis for the Industry environment is the _____ level:

Answers

Luv I don’t know sorry very sorry

An accountant is starting a new job and wants to make sure he does not put himself or his company at legal risk. He talks to his companyâs law department about which areas of law he should brush up on. The company lawyer tells him relevant areas of the law he should be aware of include:

a. White collar crime, liability of accountants, contracts
b. Product liability, comparative law, agency law
c. Antitrust law, liability of accountants, insurance law
d. Liability of accountants, international law, employment discrimination
e. Antitrust law, international law, consumer law

Answers

Answer: White collar crime, liability of accountants, contracts

Explanation:

Based on the information given, the company lawyer will tell him relevant areas of the law he should be aware of such as white collar crime, liability of accountants, and contracts.

White-collar crime simply refers to crime that a person may commit against a business and they are financially motivated e.g embezzlement, fraud, money laundering etc.

Also, when a misstatement occurs when preparing an account, the accountant is liable and in such case,will be held responsible for any inaccuracies that was noticed.

Based on the above explanation, the accountant should be aware of white collar crime, liability of accountants, contracts.

A man with ​$20,000 to invest decides to diversify his investments by placing ​$10,000 in an account that earns 5.2​% compounded continuously and ​$10,000 in an account that earns 6.4​% compounded annually. Use graphical approximation methods to determine how long it will take for his total investment in the two accounts to grow to ​$35,000. It will take approximately nothing years for his

Answers

Answer:

9.749 years

Explanation:

Given that :

Principal, P = 20,000

Total investment A = 35000

Investment 1:

P = $10,000

Compounded continuously at r = 5.2% = 0.052

A = Pe^rt

Investment B:

P = $10,000

Compounded annually at r = 6.4% = 0.064

A = P(1 + r)^t

Hence, final amount, A on both investment = 35000

A = Pe^rt + P(1 + r)^t

35000 = 10000e^0.052t + 10000(1 + 0.064)^t

Divide through by 10000

3.5 = e^0.052t + 1.064^t

t = 9.749123

t = 9.749 years

You start a new business in town that is very successful. However, you find out after the first year of operation that you must have a safety permit, and that safety permit must be obtained upon commencement of your business. Obviously you have violated the law. You never had any training in running a business nor did anyone tell you about this law. You can tell the judge you did not know what the law was and he will dismiss your case because of that.

a. True
b. False

Answers

Answer:

b. False

Explanation:

False, the judge will not dismiss your case because the fact that you did not know about the safety permit does not exonerate you from fulfilling or breaching the law. As an entrepreneur, it is your legal responsability to meet all license requirements and permits that opening a business in your state requires.

It is false that the judge will dismiss your case because of ignorance.

What is ignorance of the law?

It is a legal principle that binds a person that is not aware of law and such individual may not escape the liability for violating the law merely by not being aware of its content.

Although ignorance of the law, is not a defence for violating a principle or law.

It is important as an entrepreneur, to meet all license and permits requirements for opening a business in your state.

Therefore, It is false that the judge will dismiss your case because of ignorance.

Learn more on Law here,

https://brainly.com/question/13383200

Which of the following scenarios illustrates the law of demand?
A. A research company finds that the more expensive a particular brand of a designer handbag, the more that consumers are willing to purchase the brand.
B. Kathleen eats more steak when the price is low, and less when the price is high.
C. Francis does not care about the price of coffee at the coffee shop – he must buy two cappuccinos every day, regardless of the price.
D. John likes to drink spring water. At $2 he buys four bottles of water, and at $1.50 he still buys four bottles of water.

Answers

Answer:

Option B is correct.

Explanation:

In order to answer this question correctly, we first need to understand the law of demands.

Law of demands: It says that the relationship of price and quantity demanded is inversely proportional. It means if the price of a particular product goes high, then the quantity of demand will be reduced. Similarly, if the price of the product is low then the quantity of demanded will be higher.

Here,

Option B is the most relevant to the Law of Demand which says that Kathleen eats more steak when the price is low. It means when the price is low, the quantity of steak demanded is higher in Kathleen's case. Furthermore, Kathleen eats less when the price is high. It means, when the price of steak is higher then the quantity of steak demanded from Kathleen is low.

Hence, Option B is the correct option which fulfills the law of demand.

Reporting Uncollectible Accounts and Accounts Receivable
LaFond Company analyzes its accounts receivable at December 31, 2016, and arrives at the aged categories below along with the percentages that are estimated as uncollectible.
Age Group Accounts Receivable Estimated Loss %
Current (not past due) $250,000 0.5%
1-30 days past due 90,000 1.0
31-60 days past due 20,000 2.0
61-120 days past due 11,000 5.0
121-180 days past due 6,000 10.0
Over 180 days past due 4,000 25.0
Total accounts receivable 381,000
At the beginning of the fourth quarter of 2016, there was a credit balance of $4,350 in the Allowance for Uncollectible Accounts. During the fourth quarter, LaFond Company wrote off $3,830 in receivables as uncollectible.
A. What amount of bad debts expense will LaFond report for 2016?
B. What is the balance of accounts receivable that it reports on its December 31, 2016, balance sheet? $376,300
C. Set up T-accounts for both Bad Debt Expense and for Allowance for Uncollectible Accounts. Enter any beginning balances and effects from the information above (including your results from parts a and b).
Bad Debts Expense Allowance for Doubtful Accounts
A) 4,700 0 Bag 0 4,350
Bal.
Balance 4,700 0 Write-off 3,850

Answers

Solution :

                                                         Account          Estimated           Estimated          

                                                         receivable          loss%               bad debts

Current                                              250,000              0.5                     1250

1-30 days of past due                       90,000                 1.0                       900

31-60 days of past due                     20,000                  2.0                     400

61-120 days of past due                    11,000                    5.0                      550

121-180 days of past due                   6,000                    10.0                     600

Over 180 days of past due                4,000                    25.0                   1000

Total account receivable                 381,000                                             4700

a). The amount for the bad debts expense is = 4700 - (4350 - 3830)

                                                                          = 4180

b). Balance in the accounts receivable

     Accounts receivable                                              =   381,000

     Less : allowance for bad debts                             =      - 4180

     Net realizable value of the accounts receivable =  376,820

c).      Bad debts expense

     a).           4180

     Balance: 4180

The allowance for un-collectible account

Beg. Bal   :       4350    

write off   :        3830

a).                     4180

Balance            4700                      

Question Mode Multiple Select Question Select all that apply At the end of the previous year, a customer owed Chocolates R US $500. On January 31 of the current year, the customer paid $900 total, which included the $500 owed plus $400 owed for the current month of January. What would be the journal entry on January 31 that reflects this

Answers

Answer:

January 31

Dr Cash $900.

Cr Service revenue $400.

Cr Accounts receivable $500.

Explanation:

Preparation of the journal entry

Based on the information given What would be the journal entry on January 31 that reflects this are :

January 31

Dr Cash $900.

Cr Service revenue $400.

Cr Accounts receivable $500.

Jeremiah expressed his disdain for the economic reports he heard on the news. "All economists care about is increasing GDP," he said. "I wish economists cared about living conditions and well-being instead of just some economic indicator." How could you acknowledge the shortcomings of GDP to Jeremiah, while also showing him how GDP functions as both an economic indicator and a measure of well-being? While it is true that GDP calculations omit such things as and , it is still a useful way to measure .

Answers

Answer: the value as opposed to the price of an item; environmental degradation; total output and income.

Explanation:

While it is true that GDP calculations omit such things as the value as opposed to the price of an item and environmental degradation, it is still a useful way to measure total output and income.

Gross Domestic Product is a means of measuring economic performance over a given period(usually a year). It works by adding up the final value of the goods and services produced in a country in that given period and thus can show the total output and income in a country.

Sadly however, it has some shortcomings. One of those is that it uses the prices of goods not their actual value. Another is that it does not take into account important factors such as environmental degradation which if added, would reduce GDP because the environment on average suffers negatively from production.

what are the consequences of bad netiquette​

Answers

Answer:

it can make people or students uncomfortable

student will feel irritation

students will feel embracement in front of many students

Explanation:

On January 1, 2020, HD Corp. paid $60,000 and issued a 5-year noninterest bearing note payable with a face value of $120,000 in exchange for a piece of equipment. The applicable interest rate is 8%. HD Corp depreciates over a straight-line basis and utilizes the effective interest method to record interest expense. The equipment is expected to be in service for 8-years at which point it will be worthless.

Required:
What is the carrying value of the note payable on 12/31/2021?

a. $120,000
b. $88,204
c. $75.136
d. $95.260
e. $89,335

Answers

Answer:

b. $88,204

Explanation:

The computation of the carrying value of the note payable is shown below:

= Present value of the notes + interest

= $120,000 × 0.680583 + ($120,000 × 0.680583 × 8%)

= $81,670 + $6,534

= $88,204

hence, the second option is correct

Think about the following products: cell phone, automobile, clothing, and social media site. Personally, how would you determine and assess the concept of value to the customer for each of these products? Which aspects, technical or social, have the most weight? Would you say that your analysis would be legitimate for others making the same decision?

Answers

Answer:

There are various aspects that would have the most weight.

Explanation:

What is a conversion rate?

Answers

Answer:

number of conversions divided by the total number of visitors.

Explanation:

Answer:

In electronic commerce, conversion marketing is marketing with the intention of increasing conversions--that is, site visitors who are paying customers. The process of improving the conversion rate is called conversion rate optimization.

At the time a $400 petty cash fund is being replenished, the company's accountant finds vouchers totaling $300 and petty cash of $100. The vouchers include: postage, $80; business lunches, $120; delivery fees, $60; and office supplies, $40. Which of the following is not recorded when recognizing expenditures from the petty cash fund?
A. Debit petty cash, $300
B. Credit petty cash, $300
C. Debit office supplies, $40
D. Debit postage expense, $80

Answers

Answer:

A. Debit petty cashier at the end of the

If a product's demand rises as income rises, ceteris paribus, the product is

a) an inferior good

b) not enough information

c) a notmal good

d) outside of the market equilibrium ​

Answers

Generally, when a product's demand rises as income rises, ceteris paribus, the product is outside of the market equilibrium ​

Market equilibrium occurs when a market price of quantity demanded is equal to the quantity supplied

Hence, when a product's demand rises as income rises, ceteris paribus, the product is outside of the market equilibrium ​

In conclusion, the Option D is correct.

Read more about Market equilibrium

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Consider an economy in which money does not exist, so that agents rely on barter to carry out transactions. When the economy was small, barter seemed sufficient. However, the economy has now begun to grow. If people in this economy trade five goods, the price tag of each good must list____prices, and the economy requires____prices for people to carry out transactions. Suppose that the number of goods people trade increases to 17. Then the price tag of each good must list____prices, and the number of prices that the economy requires increases to____.
Now suppose that our economy has a money. The government now issues a national currency and there is no longer any barter. In this economy, money and currency are not the same because:____.
1. The fact that the government issues currency means that the currency will be accepted as money by all agents.
2. The fact that the currency is backed by the government means that it will never lose value and will remain a perfect unit of account.
3. Just because the government issues currency does not mean that the currency will be accepted as money, since it must be used as a medium of exchange, store of value and standard of value.
4. Just because the government issues currency does not mean that the currency will be accepted as money, and buyers and sellers still need barter to ensure that money does not lose its value.
Suppose now that our economy is suffering from rapid, ongoing increases in the cost of living. Which characteristic of money is directly negatively impacted in that economy?
1.Medium of exchange.
2.Double coincidence of wants.
3.Store of value.
4.Unit of account.

Answers

Answer:

4. Just because the government issues currency does not mean that the currency will be accepted as money, and buyers and sellers still need barter to ensure that money does not lose its value.

Suppose now that our economy is suffering from rapid, ongoing increases in the cost of living. Which characteristic of money is directly negatively impacted in that economy?

3.Store of value.

Explanation:

The outstanding capital stock of Coronado Corporation consists of 1,900 shares of $100 par value, 9% preferred, and 5,400 shares of $50 par value common. Assuming that the company has retained earnings of $87,500, all of which is to be paid out in dividends, and that preferred dividends were not paid during the 2 years preceding the current year, state how much each class of stock should receive under each of the following conditions.

a. The preferred stock is noncumulative and nonparticipating.
b. The preferred stock is cumulative and nonparticipating.
c. The preferred stock is cumulative and participating.

Answers

Answer:

preferred stock dividends = 1,900 x $100 x 9% = $17,100

common stocks = 5,400 stocks

a) distribution of dividends:

preferred stocks = $17,100

common stocks = $70,400

b) distribution of dividends:

preferred stocks = $17,100 x 3 = $51,300

common stocks = $36,200

c) distribution of dividends:

preferred stocks = $51,300 + (1,900/7,300 x $19,100) = $56,271

common stocks = $17,100 + (5,400/7,300 x $19,100) = $29,429

The following information pertains to Darius Jakande's personal financial transactions. Opening Balances - December 1, 2018 Cash $14,200 Contents of Home $1,900 Automobile $19,900 House $156,900 Unpaid Accounts $6,400 Bank Loan $55,700 Transactions for the month of December 2018. 1. Paid maintenance expenses for the month of December with $800 cash. 2. Purchased a new computer worth $2,800 with cash. 3. Paid credit card liability of $6,400 (Unpaid Accounts) in full. 4. Paid telephone, electricity and water bill for December with $600 cash. 5. Purchased $2,100 of groceries and goods for personal consumption with cash. 6. Deposited $4,100 salary earned during the month. Do not enter dollar signs or commas in the input boxes. Use the negative sign for a deficit. The T-Account fields are labeled by transaction number. Record each transaction by entering the value into the corresponding T-Account field. Required a) Using the information provided, record the opening balances in the T-accounts. b) Record the transactions for the month of December in the T-accounts.

Answers

Answer:

Darius Jakande

T-accounts:

a) Opening balances:

Cash

Account Title                Debit     Credit

Beginning balance     14,200

Contents of Home

Account Title                Debit     Credit

Beginning balance       1,900

Automobile

Account Title                Debit     Credit

Beginning balance     19,900

House

Account Title                Debit     Credit

Beginning balance   156,900

Unpaid Accounts

Account Title                Debit     Credit

Beginning balance                      6,400

Bank Loan

Account Title                Debit     Credit

Beginning balance                    55,700

Net Worth

Account Title                Debit     Credit

Beginning balance                   130,800

b) Transactions for the month of December:

Cash

Account Title                Debit     Credit

Beginning balance     14,200

Maintenance expenses               800

Computer                                  2,800

Unpaid accounts                       6,400

Utilities expenses                        600

Food expenses                         2,100

Salary                          4,100

Contents of Home

Account Title                Debit     Credit

Beginning balance       1,900

Computer

Account Title                Debit     Credit

Cash                            2,800

Automobile

Account Title                Debit     Credit

Beginning balance     19,900

House

Account Title                Debit     Credit

Beginning balance   156,900

Unpaid Accounts

Account Title                Debit     Credit

Beginning balance                      6,400

Cash                             6,400

Bank Loan

Account Title                Debit     Credit

Beginning balance                    55,700

Net Worth

Account Title                Debit     Credit

Beginning balance                   130,800

Salary Income

Account Title                Debit     Credit

Cash                                             4,100

Maintenance Expenses

Account Title                Debit     Credit

Cash                                800

Utilities Expenses

Account Title                Debit     Credit

Cash                                600

Food Expenses

Account Title                Debit     Credit

Cash                              2,100

Explanation:

a) Data and Calculations:

Opening Balances - December 1, 2018

Cash                     $14,200

Contents of Home $1,900

Automobile          $19,900

House                $156,900

Total assets      $192,900

Unpaid Accounts $6,400

Bank Loan          $55,700

Total liabilities    $62,100

Net Worth = $130,800 ($192,900 - $62,100)

4. The following is Arkadia Corporation's contribution format income statement for last month: Sales $1,200,000 Variable expenses 800,000 Contribution margin 400,000 Fixed expenses 300,000 Net operating income $100,000 The company has no beginning or ending inventories and produced and sold 20,000 units during the month. (Each requirement is worth 3 points for a total of 18 points) Required: a. What is the company's contribution margin ratio

Answers

Answer:

Missing word "sold 20,000 units during the month at a sales price of $60 per unit.. b. What is the company's degree of operating leverage? c. How many units would the company have to sell to achieve a desired operating income before taxes of $150,000?"

a. Contribution Margin Ratio = Contribution margin / Sales

= 400000 / 1200000

= 0.3333

= 33.33%

b. Operating Leverage = Contribution / Net Income

= 400000 / 100000

= 4 Times

c. Sale to achieve desired profit = (Fixed Cost + Desired Profit) / Contribution Margin Ratio

= (300000 + 150000) / 0.3333

= $1350000

Sales in Units = $1350000 / 60 units = 22500 units

On March 31, 2012, Destin Incorporated reported the following balance sheet:
Assets
Cash 3,000
Inventory 14,000
Prepaid Insurance 3,000
Equipment (net) 20.000
Total Assets 40,000
Liabilities & Owners' Equity
Loan Payable 10,000
Common Stock 25,000
Retained Eamings 5,000
Total Liabilities and OE 40,000
During the month ended April 30, 2012, Destin reports the following activities:
They earn revenue totaling $16,000 related to selling inventory, all received in cash. The cost of the inventory sold is $9,000.
Employees earn $2,000, all of which is paid in cash during April.
Other operating expense total $1,000, all paid in cash during April.
They purchase inventory for cash at a total cost of $10,000.
Other information:
A. Depreciation on the equipment is $1,000 per month.
B. The insurance policy was purchased on January 1, 2012, and covers six months.
Required:
1. Calculate Destin's net income for the month ended April 30, 2012.
2. Calculate Destin's retained earnings as of April 30, 2012.
3. Calculate the total assets as of April 30, 2012.
4. Calculate the total liabilities as of April 30, 2012.
5. Calculate the total owners' equity as of April 30, 2012.
6. Calculate the balance of Accumulated depreciation as of April 30, 2012.

Answers

Answer:

Destin Incorporated

1. Net income for the month ended April 30, 2012 is $1,000.

2. Retained earnings as of April 30, 2012 is $6,000.

3. Total assets as of April 30, 2012 is $41,000.

4. Total liabilities as of April 30, 2012 is $10,000.

5. The total owners' equity as of April 30, 2012 is $31,000.

6. The balance of Accumulated depreciation as of April 30, 2012 is $4,000.

Explanation:

a) Data and Calculations:

Balance sheet:

Assets

Cash                                   3,000 + 16,000 -2,000 - 1,000 - 10,000 = 6,000

Inventory                           14,000 + 10,000 - 9,000 = 15,000

Prepaid Insurance             3,000 - 2,000 = 1,000

Equipment (net)              20,000 - 1,000

Total Assets                    40,000

Liabilities & Owners' Equity

Loan Payable                  10,000

Common Stock              25,000

Retained Earnings           5,000

Total Liabilities and OE 40,000

Revenue                   $16,000

Cost of goods sold      9,000

Gross profit                $7,000

Wages                          2,000

Other expenses           1,000

Depreciation expense 1,000

Insurance expense     2,000

Total expenses         $6,000

Net income                $1,000

Retained earnings:

Beginning balance    5,000

Net income                1,000

Ending balance        6,000

Total assets:

Cash balance   6,000

Inventory         15,000

Prepaid insur.    1,000

Equipment      19,000

Total assets = 41,000

Total liabilities:

Loan Payable  10,000

Equity:

Common Stock     25,000

Retained earnings  6,000

Owners' equity     31,000

For the year, the balance of Accumulated Depreciation = $4,000 ($1,000 * 4)

Stupendous Productions, Inc. again this year want to put on its Rock-and-Roll Revival, a two-week fesitval with some of the greatest acts in the music industry, on your land. You are not sure you want to allow Stupendous Productions, Inc. to put on the festival. Stupendous is threatening legal action. What should Stupendous ask the Court to find?A. A prescriptive easementB. An implied license base upon prior useC. Breach of contractD. None of the above

Answers

Answer:

A. A prescriptive easement

Explanation:

A prescriptive easement is defined as the right of a person to use another person's property for a legally defined period of time.

This does not confer ownership to the user only the right to use the land.

In the given scenario Stupendous Productions, Inc. again this year want to put on its Rock-and-Roll Revival, a two-week fesitval with some of the greatest acts in the music industry, on your land.

Since they had used the land before, in court they can ask for a prescriptive easement to use the land for the concert

The Puck and Pawn Company manufactures hockey sticks and chess sets. Each hockey stick yields an incremental profit of $2 and each chess set, $4. A hockey stick requires 4 hours of processing at machine center A and 2 hours of processing at machine center B. A chess set requires 6 hours at machine center A, 6 hours at machine center B, and 1 hour at machine center C. Machine Center A has a maximum of 120 hours of available capacity per day, machine center B has 72 hours, and machine center C has 10 hours. If the company wishes to maximize profit, how many hockey sticks and chess sets should be produced per day

Answers

Answer:

For number of units of hockey stick = 24

For number of units of chess sets = 4

Maximum possible profit = $64

Explanation:

Decision Variables:

Number of units of Hockey sticks and chess sets

Number of Units           Hockey Sticks               Chess Sets

                                              H                                     C

Objective Function:

Maximize the total profit:

Max P = 2H + 4C

Constraints:

4H + 6C [tex]\leq[/tex] 120 hours    ---> A

2H + 6C [tex]\leq[/tex]  72 hours    ---->B

          C  [tex]\leq[/tex]  10 hours -----> C

H, C [tex]\geq[/tex] 0

For this question to solve, we need to draw a feasible region diagram, which I have attached in the attachment. Please refer to it.

So,

Points According to the feasible region are:

D(0,10) ; A(6,10) ; B(24,4) ; C(30,0) ;

Value of objective function at corner points:

At D(0,10) ;  P = 2H + 4C = 2x0 + 4 x 10 = $40

At A(6,10);   P = 2H + 4C = 2x6 + 4x10 =  $52

At B((24,4) : P = 2H + 4C = 2 x 24 + 4x4 = $64

At C(30,0) ; P = 2H +4C = 2x30 + 4x0 = $60

Hence,

P is maximum at corner point B(24,4)

For number of units of hockey stick = 24

For number of units of chess sets = 4

Maximum possible profit = $64

Fiji, Inc. started 2025 with $12,000 in assets and $2,500 in liabilities. Fiji had issued 50 shares of stock when it went into business in 2019 for $10 per share, and not stock has been issued since that time. At December 31, 2025, Fiji had $23,000 in assets and $4,000 in liabilities. How much was Fiji's net income during 2025 if the company paid $1,000 in dividends during the year?
a $11,500
b $12,000
c $10,500
d $11,000
e None of the above

Answers

Answer:

$See below

Explanation:

Fuji Net income in 2025 is computed as

= Beginning asset + Dividend - Beginning liabilities

Given that;

Beginning asset = $12,000

Dividend = $1,000

Beginning liabilities = $2,500

Net income

= $12,000 + $1,000 - $2,500

= $10,500

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