It means that there is a 68% chance that the customer who purchased the lawnmower will also purchase the extended warranty since the percentage is always calculated in 100.
If your garden is small, you may choose a low-price reel mower for about $one hundred fifteen on average. However, in case you need a driving mower for huge belongings, it'd cost a mean of $3,070. The walk-behind mower, which is the maximum not unusual style for owners, costs a median of $475.
The overdue spring and early summer time provide several possibilities for reductions on the whole lot from lawn furniture to lawn system. Hold an eye fixed out for massive sales around Memorial Day (late May), Father's Day (mid-June), Independence Day (July four), and hard work Day (early September) for reductions on mowers.
Fuel mowers are extra durable; they definitely last longer. In phrases of engine existence, a fuel mower will run for 10 years or greater, while battery-powered lawnmowers will need to get replaced after about 5 years, on common.
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which of the following are signs of inflation? a. the price of a house in a high-demand market increased by 6% last year.
Some signs of inflation are (1) the price of a house in a high-demand market increased by 6% last year and (2) CPI in the European Union was 101 in 2017 and 104 in 2018.
What are signs of inflation?Inflation means a rise in prices, which can also mean the decline of purchasing power over time. The rate at which purchasing power drops can be reflected in the average price increase of goods and services over some period of time. This rise in prices means a unit of currency effectively buys less than it did in prior periods. The opposite of inflation is deflation, which occurs when purchasing power increases since prices decline.
The question's multiple choices are incomplete. The multiple choices are most likely these:
(A) Last year, the price of a house in a high-demand market increased by 6%.(B) In the European Union, CPI was 101 in 2017 and 104 in 2018.(D) As new production technologies make manufacturing cheaper, the price of lithium-ion batteries falls.In that case, the correct options would be A and B.
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Required information
Types of Innovation
This exercise addresses the strategic implications of innovation for a firm's competitive advantage, as well as the impact of innovation on markets and industry life cycles overall. This goal of this exercise is to recognize the four types of innovation, based on the following product descriptions:
Canon Copier - While Xerox had been the dominant supplier for copiers worldwide, Canon redesigned the copier, so it didn't require professional service and the user could maintain the machine.
Ford Model T- Ford's introduction of the Model T exemplifies targeting new markets with the use of new technology
Gillette Fusion Rezor - Gillette sustains its competitive advantage by continually improving its blades. The company initially developer razors with one blade; it now has razors with six blades.
Coursera MOOCS-Coursera created havoc among traditional university methods by offering massive open online courses.
Match each company to the type of innovation for which it is known.
a. Incremental
b. Disruptive
c. Architectural
d. Radical
Match each of the options above to the items below.
1. Canon Copier
2. Ford Model
3. Gillette Fusion Razor
4. Coursera M0OCS
Canon copier ----- Architectural innovation
Ford model T ----- Radical innovation
Gillette Fusion razor ----- Incremental innovation
Coursera MOOCs ---- Disruptive
Innovation is the practical implementation of ideas that result in the introduction of new items or services or improvement in presenting goods or services. ISO TC 279 within the trendy ISO 56000:2020 defines innovation as "a brand new or modified entity understanding or redistributing value".
Innovation can consult with some thing new, which includes an invention, or the exercise of developing and introducing new matters. An innovation is usually a new product, however it could also be a new manner of doing some thing or maybe a brand new way of wondering.
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the following data relate to the direct materials cost for the production of 50,000 automobile tires: actual: 725,000 lbs. at $3.00 per lb. standard: 730,000 lbs. at $2.95 per lb. a. determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. direct materials price variance $fill in the blank 1 direct materials quantity variance $fill in the blank 3 total direct materials cost variance $fill in the blank 5 b. the direct materials price variance should normally be reported to the . when lower amounts of direct materials are used because of production efficiencies, the variance would be reported to the . when the favorable use of raw materials is caused by the purchase of higher-quality raw materials, the variance should be reported to the
Explanation:
b. the direct materials price variance should normally be reported to the . when lower amounts of direct materials are used because of production efficiencies, the variance would be reported to the . when the favorable use of raw materials is caused by the purchase of higher-quality raw materials, the variance should be reported to the
Nelson is documenting all the steps it takes to recruit, hire, and onboard a new employee. What would be the best way to describe these steps?.
The best way to describe the steps is to define them in a systematic way.
Explanation:
For recruiting, Nelson should look for various alternatives where he can approach skilled group of people like institutions and colleges, placement agencies or he can also contact head hunters for highly skilled jobs.
For onboarding he should access the talent potential employee is bringing on the table considering the general market practice for such job and thus offering him a pay structure that would attract him to join keeping the best interest of the company in mind.
He should also make him clear the terms and conditions as per the job and providing him a healthy work environment and help him to get to know the people he will be working with.
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firms that adopt a(n) blank strategy have minimal need for integrating mechanisms because they are primarily concerned with local responsiveness. multiple choice question. localization global standardization transnational international
Firms that adopt a localization strategy have minimal need for integrating mechanisms because they are primarily concerned with local responsiveness. The correct answer would be option A.
A company's localization strategy is a distinctive market technique it uses to handle the varying cultural norms, consumer behaviors, and purchasing patterns in each country it operates in.
It can be difficult to provide customers in a new foreign market with an user experience that appears familiar and natural to them. Developing localization strategy for each country ensures that consumers from other countries receive the same high-quality service they would anticipate from a local company.
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the tax rate schedule for individuals who qualify as a head-of-household is more favorable than the tax rate schedule for single individuals. True or False
It is true that the tax rate schedule for individuals who meet the requirements to be considered a head-of-household is more favorable than the tax rate schedule for single individuals. Because individuals who qualify as a head-of-household have a lower tax rate and a higher standard deduction than single individuals.
The tax rate schedule is a rate sheet that individuals and corporations use to calculate their estimated taxes due. The schedule includes tax rates for various ranges of taxable income as well as specific taxable circumstances. The federal tax rates are determined by income and filing status.
Example tax rate in 2022
Single individuals with taxable income between $10,275 and $41,775 are subject to the 12% tax rate.Head-of-household with taxable income between $14,651 and $55,800 are subject to the 12% tax rate.Learn more about the tax rate schedule at https://brainly.com/question/28456845
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Joaquin moved from nicaragua to the united states. He learned to speak and write in english, changed his last names so that it would sound more "american," and no longer maintains any of his old culture’s styles of dress or customs. Joaquin has used which method of entering the majority?.
Joaquin has used assimilation method of entering the majority .
What is a meaning of assimilation?
In order to assimilate, a group must adopt the characteristics of the dominant culture to the point where they are no longer recognizable from other members of the society. Assimilation is the most extreme example of acculturation because of this.What does the word "assimilation" mean?
Assimilation is the process through which people and groups with different ancestries pick up the fundamental values, attitudes, and way of life of a welcoming culture.
Which four forms of assimilation are there?
A sound can sound like a nearby sound through the phonological process of assimilation. Assimilation can be full, partial, coalescent, progressive, regressive, or coalescent.
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cowboy bob signed an agreement with farmer joe under which cowboy bob agreed to purchase all the hay that farmer joe grew during the coming growing season. this contract will be:
As long as both sides behave in good faith and Bob doesn't unexpectedly demand more hay than what was fairly projected, this contract will be enforceable.
What is a contract?A contract is an enforceable legal arrangement that establishes, details, and regulates the rights and duties of the parties. The transfer of commodities, services, money, or a promise to transfer any of those at a later time is a common component of contracts.The following are the top three types of contracts:
Fixed-price arrangements. Cost-plus agreements. Contracts for supplies and time.In the given situation:
In a contract inked with farmer Joe, cowboy Bob committed to buying all the hay the latter would produce over the ensuing growing season.
As long as both sides behave in good faith and Bob doesn't unexpectedly demand more hay than what was fairly projected, this agreement will be enforceable.
Therefore, as long as both sides behave in good faith and Bob doesn't unexpectedly demand more hay than what was fairly projected, this contract will be enforceable.
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what is a disadvantage of related diversification? group of answer choices firms select new businesses and industries based on financial considerations. firms are able to look for promising investment opportunities for future profit
The disadvantage of related diversification is that firms are able to look for promising investment opportunities for future profit, which means option B is the right answer.
Diversification is the act of inducing more branches of a business to expand it in the preexisting operations in areas where it is not present. Related diversification enhances shareholder value by taking control over cross-business strategic fits. It enables transfer of skills and capabilities from one business to another. It causes a combination of new resources to produce batter capacities and capability. Related diversification can allow a firm to share and transfer critical success factors across different businesses leading to efficiencies in resource allocation. The disadvantages are often too optimistic and are harder to manage. Also, several significant barriers are present which actually capitalize on shared synergies and related diversification is often overvalued.
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what is the level of interdependence among departments (finance, marketing) in a business school? what kinds of coordination mechanisms might be used to handle that interdependence?
Following are the three levels of interconnectedness that affect organizational structure:
What is the Parsons Thompson model?The three layers or levels of the Parson and Thompson model describe what occurs in the enterprise and how a process or activity serves a particular goal.
Here is a summary of Thompson's levels of interdependence:
In order to create a team where each member contributes to the total, there are three types of interdependence that can be used.In a business school, the degree of connection between the departments of finance and marketing is:
Structure of Reciprocal Interdependence.There are various coordination techniques that might be applied to manage the interdependence, including:
complete cooperationextensive preparationMutual apprehensionWe must demonstrate the many layers of interconnectedness and how they might be applied in diverse systems, such as a business school's finance or marketing department, in order to answer the issue.
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assume that the united states government introduces an expansionary monetary policy, increasing the money supply in the market. in the accompanying graph, demonstrate the long run effect on aggregate demand and short run aggregate supply. then, answer the following question.
Short-run effect on aggregate demand and short-run aggregate supply is it has no effect on GDP SRAS lines shifts left, AD line shifts right.
Aggregate demand is the total demand for goods and services in a country's economy at a certain price level. In an open economy, aggregate demand consists of demand from four macroeconomic sectors, namely households, businesses, government, and the external sector. Aggregate demand can also be defined as the total quantity of goods and services that households, firms and the government want to buy at the existing inflation rate. In other words, the demand that occurs as a whole in a country.
Among examples of aggregate demand are:
Total imports of Indonesian motorized vehicles throughout 2019 show aggregate demand for motorized vehicles from within the countryIndonesia's total shrimp exports to Japan in 2020 shows the aggregate demand for shrimp commodities from Japan.Learn more about Aggregate demand here brainly.com/question/29349235
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the circular flow model is group of answer choices a simple model that explains how the economy is organized. a geographic model that shows economic development in a region. a model that shows the flow of money in major financial institutions. an engineering model that shows water flow in storm water sewers.
The circular flow model is a model that shows the flow of money in major financial institutions.
What is circular flow model?The circular flow model shows how money flows in an infinite loop from producers to households and back again. In an economy, money moves from producers to workers as wages, and from workers back to producers as workers spend money on products and services. In economics, a circular flow model represents the organization of the economy in a simple economic model. The diagram includes households, firms, markets for factors of production, and markets for goods and services.A circular flow model is an economic model that shows how money, goods, and services move between sectors of an economic system. This model is also known as the income cycle because money flows between sectors are also tracked to measure a country's national income or GDP.To learn more about circular flow model from the given link :
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timberly construction makes a lump-sum purchase of several assets on january 1 at a total cash price of $840,000. the estimated market values of the purchased assets are building, $467,500; land, $289,850; land improvements, $37,400; and four vehicles, $140,250. problem 8-1a (algo) part 1-3 required: 1-a. allocate the lump-sum purchase price to the separate assets purchased. 1-b. prepare the journal entry to record the purchase. 2. compute the first-year depreciation expense on the building using the straight-line method, assuming a 15-year life and a $32,000 salvage value. 3. compute the first-year depreciation expense on the land improvements assuming a five-year life and double-declining-balance depreciation.
1. a. Allocate the lump-sum purchase price to the separate assets purchased.
Calculation of Percent of Total Appraised Value
Building= $439300*100/955000= 46%
Land= $286500*100/955000= 30%
Land improvements= $28650*100/955000= 3%
Vehicles= $200550*100/955000= 21%
2. Prepare the journal entry to record the purchase.
Date General Journal Debit Credit
Jan 01 Building $381800
Land $249000
Land improvements $24900
Vehicles $174300
Cash $830000
(To record the cost of lump-sum purchase)
Compute the first-year depreciation expense on the building using the straight-line method, assuming a 15-year life and a $29000 salvage value.
Depreciation expense= (Cost-Salvage value)/Number of useful life
= $(381800-29000)/15= $23520
Depreciation expense on building $23520
3. Compute the first-year depreciation expense on the land improvements assuming a five-year life and double-declining-balance depreciation.
Depreciation rate= 100/5*2= 40%
Depreciation expense= $24900*40%= $9960
Depreciation expense on land improvements $9960
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as the price of tomatoes fell from $2.50 to $2.00, the quantity imported from mexico fell from 1,800 tons to 900 tons. the elasticity of supply of tomatoes imported from mexico is:
The quantity imported from Mexico decreased from 1,800 tons to 900 tons as the price of tomatoes decreased from $2.50 to $2.00. The supply elasticity of tomatoes coming from Mexico is 3.0.
What does supply elasticity mean?A good or service's responsiveness to supply after a change in its market price is measured by its price elasticity of supply. Basic economic theory states that when a good's price rises, its supply will also rise.
The following formula can be used to determine the supply's elasticity:
Elasticity is equal to [(Q2 - Q1)/(Q2 + Q1)/2)]. / [(P2 – P1) / ((P2 + P1) / 2)]
Alternatively, put another way: Elasticity is equal to (Q/Qave) / (P/Pave).
where Q and P, respectively, stand for quantity and price.
We are informed that
P1 equals $2.5 Q1 equals 1,800 tons
P2 equals $2 and Q2 equals 900 tons.
adding the specified values to the equation:
Elasticity is equal to [(900 - 1800)/(900 + 1800)/2)]. / [(2 – 2.5) / ((2 + 2.5) / 2)]
Elasticity is equal to (-900/1350)/(-0.5/2.25)
elastic factor = 3.
Positive elasticity means that the supply and price are inversely correlated.
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the disposable income from your part-time job in 2021 was $13,200. in 2020, you borrowed $1,400 at 12 percent interest. you repaid your loan with interest in 2021. how much would you have available for spending in 2021?
My left-over balance after paying $140168 from my disposable income of $13,200 which I earned from a part time job in 2021, will be $(140168-12000) = $128168.
What is defined as disposable income?
The amount of money available for spending and saving after income tax is subtracted is known as Disposable income.
Briefing:
Let's first figure out how much we have to spend to repay our loan from 2020 plus interest for a full year in order to address this problem.
Let's assume that the interest was compounded annually at a rate of 12% annually as we move forward.
According to the Compound Interest formula,
Where,
A = Final Amount (Principle + Interest).
P = Principle Interest in compounded
R = Rate of Compound Interest
n = Time period of interest .
Here, (P = $1400), (R = 12%) and (n = 1).
=1400 *(1+12/100)^1
=1400 *(1+12/100)
=1400*(100+12/100)
=(1400 * 100.12)
=140168
Hence, my left-over balance after paying $140168 from my disposable income of $17,000 which I earned from a part time job in 2020, will be $(140168-12000) = $128168
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Why does equiano blame the illness aboard ship on the ""improvident avarice"" of the slave traders?.
The slaves were brought on deck after they arrived in Barbados to be displayed to potential purchasers before being put up for auction.
What illness aboard ship on the ” improvident avarice”?One person would read Equiano's tale as a trip from ignorance to knowledge, while another might see it as a journey from freedom into captivity and back again.
Once people learned about the terrible conditions slaves endured, they would be moved to want to abolish slavery.
Therefore, Because of the ship's confined quarters, nauseating smell, and scarcity of food are the main causes of disease. All of these elements are the result of the trader's foolishness and greed.
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Compared with other phases of the new-product development process, the largest number of new-product ideas is rejected during the ____ phase.
In comparison of all phases of the new-product development process, the largest number of new-product ideas is rejected during the Screening phase.
What are new-product development stage?The new product development means the process of bringing a new product to the marketplace; the firm may need to engage in this process due to changes in consumer preferences, increasing competition and advances in technology as well as to capitalise on a new opportunity.
The stages of the new product development process includes an idea generation, screening, concept development, product development and commercialization.
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what is the marginal net benefit of producing the fourth unit? number units produced total benefit total costs 0 0 0 1 100 50 2 180 110 3 250 180 4 290 270 5 310 380 multiple choice
The marginal Net Benefit of fourth unit is -50.
What is Marginal net benefit?The utmost price a buyer will pay for an additional commodity or service is known as the marginal benefit.A marginal advantage is also the extra satisfaction a customer experiences after buying the extra commodity or service.The marginal benefit often declines with rising consumption.Consumer surplus refers to the willingness of a consumer to pay more than the going rate for a commodity or service.Any essential products, like medicine, do not lose some of their marginal benefits over time.Businesses can use the marginal benefit analysis they do to determine the ideal price point for the deal.Marginal net benefit is the difference between marginal benefit and marginal cost.
Marginal net benefit = Marginal Revenue – Marginal Cost
Marginal Revenue = Changes in TR/ Change in number of Units
Marginal Cost = Changes in TC / Change in number of Units
At 4th unit, the MR = (290-250)/(4-3)=40
At 4th unit, the MC = (270-180)/(4-3)=90
So, the marginal net benefit = 40–90 = -50
Therefore, the marginal net benefit of fourth unit is -50.
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When designing in-store signage, the supermarket omar manages develops yellow signs and shelf tags with bold lettering to catch consumers’ attention. The use of visuals in this manner represents the ________blank component of the communication process.
The encoding part of the communication process is represented by the use of visuals.
Encoding – what is it?The main form of human communication is the encoding and decoding of messages. The encoder is the person who generates and sends the message. In order to ensure that the audience interprets the message as intended, the encoder must determine how the audience will interpret the message.
The process of translating concepts into language is called encoding. The encoder sends the message over a "medium" such as a phone call, email, text message, in-person meeting, or another form of communication.
Varying signals require different encoding degrees of conscious cognition. The encoder should take care of any "noise" that could hinder their messages, such as other messages, diversions, or influences.
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Which of the following does not belong to the planning phase of project management? A)Monitoring Resources B)Defining the Project C) Goal Setting D) Team Organizaition
Monitoring Resources do not belong to the planning phase of project management.
Project management is the process of organizing a team's efforts to complete all project objectives within the allotted time and budget constraints. Typically, this information is detailed in project documentation that is created at the start of the development process. The second challenge is to allocate resources as efficiently as possible and use them to carry out predetermined objectives.
To produce a finished project that meets the goals of the client is the goal of project management. In many instances, the goal of project management is also to restructure or modify the client's brief so that it can realistically address the client's objectives.
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how should social and digital tools and technology should be considered in your overall marketing mix
Social and digital tools and technology should be considered in your overall marketing mix
Advertising on television on and in social media.
What is digital tools and technology?
Digital technologies can be defined as the electronic tools, systems, devices and resources that generate, store or process data. It include social media, online games, multimedia and mobile phones. Even digital learning is a part of this process. Even a video or a movie maker can be considered as an example. They are used to cover and attract a wide range of customers.
Hence, Advertising on television on and in social media. is the best option available.
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The right to receive a proportionate share of any assets remaining after the corporation goes out of business, sells its assets, and pays off its liabilities is the right of.
The proper to acquire a proportionate percentage of any property ultimate after the business enterprise is going out of business, sells its property, and can pay off its liabilities is the proper of liquidation.
The required details for Liquidation in given paragraph
Liquidation is the manner in accounting with the aid of using which a employer is delivered to an quit in Canada, United Kingdom, United States, Ireland, Australia, New Zealand, Italy, and plenty of different countries. The property and assets of the employer are redistributed. Liquidation is likewise now and again known as winding-up or dissolution, even though dissolution technically refers back to the closing degree of liquidation. The manner of liquidation additionally arises when customs, an authority or agency in a country chargeable for amassing and safeguarding customs responsibilities, determines the very last computation or ascertainment of the responsibilities or disadvantage accruing on an entry. Liquidation can also additionally both be compulsory or voluntary.
The term "liquidation" is likewise now and again used informally to explain a employer in search of to divest of a number of its property. For instance, a retail chain can also additionally want to shut a number of its stores.
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soft pegs that are periodically adjusted are called group of answer choices snakes. managed floats. hard pegs. crawling pegs.
Soft pegs that are periodically adjusted are called hard pegs.
A soft peg describes the sort of exchange rate regime applied to a forex to hold its value solid towards a reserve forex or a basket of currencies. Currencies with a gentle peg are halfway between those with a set or tough pegged alternate charge and those with a floating trade price.
In a tender peg exchange fee coverage, the forex marketplace typically determines a country's alternate price, but the authorities once in a while intervene to bolster or weaken it. In a tough peg change fee policy, the government chooses a trade price. A primary bank can intrude in change markets in two approaches.
A smooth peg is an exchange charge policy in which a government allows the change price to be set by means of the marketplace, but in some cases, especially if the change charge appears to transport hastily in one course, the primary bank will intervene in the marketplace.
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major businesses that own or own interests in radio or television production and broadcasting; motion pictures, movie theaters, and music companies; newspaper, periodical (magazine) and book publishing; and internet services and content providers that influence people and cultures worldwide are known as
media industries. The firms that enable the sharing of information are all included in the media sector.
Why is the media sector vital and what is it?The media sector is a significant stakeholder and consists of companies that are experts in the delivery of broadcast content, including print, Internet, television, radio, and direct mail. Additionally, the media influences how consumers view businesses. The media sector spans a vast range of disciplines, each with its own corresponding infrastructure, including advertising, broadcasting and networking, news, print and publication, digital, recording, and motion pictures. Creating, producing, marketing, and disseminating books, newspapers, magazines, advertisements, music and music media (records, CDs, and prerecorded tapes), motion pictures, television, and other forms of visual and auditory media are the main goals of these businesses. Page 5 The media industries' organization and traits 5 radio shows and a computer program
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the italian bread company purchased land as a factory site for $55,000. an old building on the property was demolished, and construction began on a new building. costs incurred during the first year are listed as follows: demolition of old building $ 7,500 sale of salvaged materials (1,000) architect fees (for new building) 12,500 legal fees (for title investigation of land) 1,500 property taxes on the land (for the first year) 2,500 building construction costs 450,000 interest costs related to the construction 15,500 required: determine the amounts that the company should record in the land and the building accounts
The company should record the land and building at $65500 and $478000 respectively
The cost of reconstruction is defined as what it would cost to create a similar structure today utilizing the same materials, construction standards, design, layout, and quality. The MSB reconstruction cost includes additional expenditures for the contractors hired to do repairs and restorations, the construction itself, the property's location, demolition charges, and debris removal. These elements lead to a valuation that is higher than one for a brand-new building.
Particulars Land Building
Purchase price 55,000
Demolition of the old building 7,500
Sales of salvage material -1,000
Architect fees 12,500
Legal fees 1,500
Property tax 2500
Building construction cost 450,000
Interest cost related to construction 15,500
Total cost 65500 478000
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company z's bonds have a $1,000 par value, and they mature in 30 years. the nominal, annual yield to maturity is 8.25%, but they pay interest semiannually, and their current price is $935. what is the bond's nominal coupon interest rate?
Bond price is the discounted present value of the future cash flow that a bond will produce. It is the total of the present values of all anticipated coupon payments plus the par value at maturity. The known future cash flows must simply be discounted in order to get the bond price.
$1000 in face value (FV).
There are two compounding periods each year.
There are 30 years till maturity.
NPER (number of compounding periods remaining until maturity): 60
8.25% yield till maturity
(RATE) Yield to Maturity: 4.15%
Bond price: $770 (PV).
Coupon rate is equal to 6.17% (Coupon payment x Compoundings per 12 year + $FV).
Bond prices and yields to maturity have a negative correlation with one another. A bond's price and face value are reversed when the yield-to-maturity is greater than the coupon rate.
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Coupon payment x Compounding per 12 year + $FV = 6.17% is the coupon rate.
What is a bond price?Investors' willingness to pay for an existing bond determines the bond's price. Bond prices are given as a percentage of face (par) value in both the online offering table and the statements you get. Example: You're thinking about purchasing a corporate bond.
NPER (amount of compounding cycles left before maturity): 60
yield until maturity of 8.25%
Yield to Maturity (RATE): 4.15%
Bond cost: $770. (PV).
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when money is used as a standard of value, a person is when money is used as a standard of value, a person is making a financial transaction. writing a check for groceries. earning more money than before. making price comparisons among products. purchasing a necessity.
When money is used as a standard of value, a person is when money is used as a standard of value for making price comparisons among products
Money as a standard value :
Money acts as a standard of value by framing it simple for people to compare the worth of different goods and services according to a livery source point. Money can similarly be used as a store of valuation to make trades more effective. Money serves as a standard of value by demonstrating a universal standard for the pricing of commodities and services. It allows Frank to fluently understand the costs of goods and services and frame comparisons between the value of those. Money is anything that serves as a mean of exchange.
Money :A mean of exchange is anything that's extensively accepted as a measure of payment.The 4 different types of money as classified by the economists are marketable money, fiduciary money, fiat money, commodity money. Money whose value comes from a something of which it's made is understood as commodity money.
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kelly and tim browne plan to refinance their mortgage to obtain a lower interest rate. they will reduce their mortgage payments by $83 a month. their closing costs for refinancing will e $1,670. how long will it take them to recover the cost of refinancing?
It will take 20.1 months to recover the cost of refinancing
A mortgage, just like another other type of credit extended, may be refinanced. This occurs when there is the replacement of an existing mortgage agreement with another mortgage under different terms.
Refinancing refers to the procedure of changing the terms of an existing credit agreement, frequently one that has a loan or mortgage as its focus. When a person or company chooses to refinance a credit obligation, they are essentially looking to change the interest rate, the repayment schedule, and/or other contract terms in a way that benefits them.
In order to determine the amount of time will pass in order to recover refinancing costs, we must refer to the payment savings and calculate the following:
=1,670/83
=20.1 months
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the records of concord company at the end of the current year show accounts receivable $98,400, credit sales $1,036,800; and sales returns and allowances $51,200. if concord uses the direct write-off method to account for uncollectible accounts and concord determines that matisse's $1,152 balance is uncollectible, what will concord record as bad debt expense? bad debt expense $ (b) if allowance for doubtful accounts has a balance of $1,408 and concord concludes bad debts are expected to be 10% of accounts receivable, what will concord record as bad debt expense? bad debt expense
The concord will record as bad debt expense that if allowance for doubtful accounts has balance of $1,408.
What is bad debt?Bad debt, also known as uncollectible accounts expense, is a sum of money that is owed to a creditor but is unlikely to be paid and for which the creditor is not willing to take action to collect for a variety of reasons, frequently due to the debtor not having the money to pay, for example due to a company going into liquidation or insolvency. Depending on accounting practices, regulatory considerations, and the institution provisioning, there are many technical definitions of what a bad debt is. Bank loans in the USA are referred to as "problem loans" if they are more than 90 days overdue. Accounting sources recommend deducting the whole amount of a bad debt as soon as it is anticipated from profit and loss or allocating a reserve for it.
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The checkbook balance on May 31 is $16,462.35
The Bank Statement shows an ending balance of $16,833.19
Deposits of $575 on May 29 and $1,075 on May 30 do NOT appear on the bank statement.
The bank statement shows a service charge of $20.00.
The following checks are outstanding:
Check 189 - $127.50
Check 191 - $462.19
Check 192 - $569.42
Check 194 - $881.73
in a journal
a) The journal entry to adjust the checkbook balance is as follows:
May 1 Debit Bank Charges $20
Credit Checkbook $20
b) The preparation of the Bank Reconciliation Statement is as follows:
Balance as per bank statement $16,833.19
Add Uncleared Deposits $1,650.00
Less Outstanding Checks $2,040.84
Balance as per adjusted checkbook $16,442.35
What is bank reconciliation?Bank reconciliation is an accounting process to bring the balance as per the bank statement to agree with the balance as per the checkbook.
The accounting process tries to identify discrepancies and accounting errors between these sets of records to correct and reconcile the differences.
Checkbook balance on May 31 = $16,462.35
Bank Statement balance on May 31 = $16,833.19
Uncleared Deposits:
May 29 $575
May 30 $1,075 $1,650
Outstanding Checks:
Check 189 - $127.50
Check 191 - $462.19
Check 192 - $569.42
Check 194 - $881.73 $2,040.84
Bank charges = $20.00
Checkbook Adjustment:Balance as per checkbook $16,462.35
Less Bank charges 20.00
Adjusted checkbook balance $16,442.35
Transaction Analysis for Journal:Bank Charges $20 Checkbook $20
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Question Completion:Journalize the adjusting entry for the checkbook balance and prepare the bank reconciliation statement.