Answer: b. shoe-leather costs
Explanation:
This is the shoe-leather cost inflation. It refers to the time and effort expended by people to ensure that they are able to avoid their cash losing too much value to inflation. Includes for instance, going to the bank multiple times because you are holding little cash on hand so it does not lose value.
It is named shoe-leather costs as a play on words because it is assumed that the time and effort put will result in walking around alot and degrading the quality of your shoes.
On January 1, 2018, Busy Beaver, Inc., signed a $315,000, 5-year note payable to buy a new industrial veneer cutter. Busy Beaver plans to use the machine for 10 years and then sell it for its scrap value of $5,000. Using straight-line depreciation, Depreciation Expense for the year ended December 31, 2018 equals ______.
a. $284,000.
b. $31,500.
c. $283,500.
d. $31,000.
Answer:
Annual depreciation= $31,000
Explanation:
Giving the following information:
Purchase price= $315,000
Useful life= 10 years
Salvage value= $5,000
To calculate the depreciation expense, we need to use the following formula:
Annual depreciation= (original cost - salvage value)/estimated life (years)
Annual depreciation= (315,000 - 5,000) / 10
Annual depreciation= 310,000/10
Annual depreciation= $31,000
Employees at Smith's Club, a discount grocery chain, know that they have to stay on their toes at all times. Mr. Smith, the company founder, has been known to put on disguises and make unannounced visits to stores to make sure the staff is treating customers politely. This is an example of:________
a. a variable ratio schedule.
b. continuous reinforcement.
c. a variable interval schedule.
d. a fixed interval schedule.
e. a fixed ratio schedule.
Answer:
c. a variable interval schedule.
Explanation:
A variable interval schedule is the schedule in which the particular time amount would be passed i.e. non-predictable and this time amount would be changed or varies
Here in the given situation since it is mentioned that there is unannounced visits in order to check whether the staff is treating their customers in a polite way or not
Therefore the correct option is c.
A building offers 60,000 square feet of rentable space and it currently occupied by two tenants, A and B. If tenant A occupies 35,000 square feet of space and tenant B occupies 13,000 square feet.
Required:
a. What is the buildingís current occupancy rate?
b. If the annual expense for utilities is $2.15/sf and utilities are 30% fixed, what is the utility expense based on the occupancy rate?
Answer: a. 80% b. $30960
Explanation:
a. What is the buildingís current occupancy rate?
Occupancy rate can be calculated as:
= (Area of the space occupied / total area of the space) × 100
We.need to calculate the area of the space occupied which will be:
= 35,000+13,000
= 48,000 Sq.Ft
Therefore, Occupancy Rate:
= (48,000 / 60,000) × 100
= 80%
b. If the annual expense for utilities is $2.15/sf and utilities are 30% fixed, what is the utility expense based on the occupancy rate?
Total area of utilities will be:
= 30% × 48,000
= 0.3 × 48,000
= 14,400 Sq.Ft
Annual utility expense per Sq.Ft = $2.15
Therefore, total annual expense of utility will be:
= 2.15 × 14,400
= $30,960
sales journal.
7. Which of the following is recorded in the sales journal?
O return of merchandise purchased for cash
O sale of merchandise for cash
O sale of merchandise on account
O return of merchandise purchased on account
What are two examples of Secondary or non-core activities?
lidge points from all the parts i
Part A
1) What is the idea behind frequency distribution?
2) Which is the common sampling method?
3) What is the measure of central tendency called?
4) What observation basically describes a sample size?
5) What is the measure of dispersion from a mean called?
6) Sample mean or the population mean: which varies the most?
7) Sample mean or individual observation: which varies the most?
8) What is the benefit of increasing the sample size?
9) Numerically characterize a Standard Normal Distribution
Answer:
a frequency distribution is an overview of all different values in some variable and the number of times they occur that is frequency distribution tells how frequencies are distributed over values frequency distributions are mostly used for summarizing categorical variables.
in non probability sampling the sample is selected based on the random criteria and not every member of the population has a chance of being included, non probability sampling methods include convenience sampling voluntary response sampling purposive sampling snowball sampling and quota sampling.
in statistics a central tendency (or measure of central tendency) is a central or typical value for a probability distribution. ... Colloquially measures of central tendency are often called averages the term central tendency dates from the late 1920s
do some quick math to compare how much alana should be making per month and to compare it to how much she’s spending to determine why alana’s concerned.
Question Completion:
Alana earns $150 per week. She spends a total of $524 per month. She plans to save $200 per month. Out of her total spending, her real needs are as follows:
Car Insurance - $70
Gas for Car - $70
Cell phone - $50
Shoes - $60
Wants:
Coffee - $40
Movies - $36
The remainder of her expenses is on frivolities (called miscellaneous expenses).
Answer:
1. Alana should be making $600 ($150 * 4) per month.
2. Alana is not spending $76 ($600 - $524) per month.
3. She is concerned because she is not meeting her savings goal of $200 per month. If she concentrates her expenses per month on her needs and wants only, she will be spending only $326. This will enable her to save $274 per month, thereby exceeding her target.
Explanation:
a) Data and Calculations:
Car Insurance = $70
Gas for Car = $70
Cell phone = $50
Shoes = $60
Wants:
Coffee = $40
Movies = $36
Total expenses $326
At the end of March, the unadjusted trial balance of Tutor, Inc. included the following accounts:
Tutor uses the balance sheet approach in estimating uncollectible accounts expense, and aging the accounts receivable indicates the estimated uncollectible portion to be $8,600. What is the amount of uncollectible accounts expense recognized in Tutor's income statement for March?
A. $8,600
B. $6,800
C. $10,400
D. $1,800
Answer:
A. $8,600
Explanation:
the journal entry to record uncollectible accounts expense is:
March 31, 202x, bad debt expense
Dr Bad debt expense 8,600
Cr Allowance for uncollectible accounts 8,600
Allowance for uncollectible accounts is a contra asset asset that decreases the net balance of accounts receivable. While bad debt expense is a temporary account that is included under operating expenses in the income statement.
answers to the nearest whole dolar
Scenario #1: Raul
Raul is a saver. He sets aside $100 per month during his career of 40 years to prepare for retirement. He does not like
the idea of investing because he prefers to minimize his risk as much as possible, so he puts his money in a savings
account which earns 1.596 interest per year
1. What is the total balance in 2. How much of the total did
3. How much money did Raul
the account after 40 years?
Raul contribute himself?
make through compound
interest in this savings
account?
N
4. Identify one way Raul could have increased the total amount of money he made over the 40 years. Explain
your reasoning.
Mortgage loans that allow the borrower to switch among a variety of payment arrangements throughout the life of the loan are more commonly referred to as:________
a. option ARM loans.
b. hybrid ARM loans.
c. subprime loans.
d. alt-A loans.
Answer:
a. option ARM loans.
Explanation:
Mortgage loans that allow the borrower to switch among a variety of payment arrangements throughout the life of the loan are more commonly referred to as option ARM loans. This type of loans are adjustable and as such the borrower can make lower payments.
George operates a business that generated revenues of $50 million and allocable taxable income of $1.25 million. Included in the computation of allocable taxable income were deductible expenses of $240,000 of business interest and $250,000 of depreciation. What is the maximum business interest deduction that George will be eligible to claim this year?
A) $375,000
B) $522,000
C) $1,500,000
D) $300,000
E) $228,000
Answer:
B) $522,000
Explanation:
Calculation for the maximum business interest deduction
Using this formula
Maximum business interest deduction =(Allocable taxable income+Deductible expenses of business interest +Depreciation)× Standard Tax rate
Let plug in the formula
Maximum business interest deduction =
($1,250,000 + 240,000 + 250,000) × 30%
Maximum business interest deduction =$1,740,000*30%
Maximum business interest deduction = $522,000
Therefore the maximum business interest deduction that George will be eligible to claim this year will be $522,000
You invest $650 in security A with a beta of 1.2 and $450 in security B with a beta of 0.7. The beta of this portfolio is _________.
Answer:
Beta of this portfolio = 0.9953
Explanation:
Given:
Investment in security A = $650 beta 1.2
Investment in security B = $450 beta 0.7
Find:
Beta of this portfolio
Computation:
Beta of this portfolio = [650 / (650+450)]1.2 + [450 / (650+450)]0.7
Beta of this portfolio = [650 / (1,100)]1.2 + [450 / (1,100)]0.7
Beta of this portfolio = 0.7090 + 0.2863
Beta of this portfolio = 0.9953
Petrus Framing's cost formula for its supplies cost is $1,840 per month plus $12 per frame. For the month of March, the company planned for activity of 624 frames, but the actual level of activity was 631 frames. The actual supplies cost for the month was $9,650. The activity variance for supplies cost in March would be closest to:________
Answer:
$84 unfavorable
Explanation:
The computation of the activity variance for supplies cost is shown below:
Supplies cost for the standard one is
= $1,840 + (624 frames × $12 per frame)
= $9,328
And, the supplies cost for the actual one is
= $1,840 + (631 frames × $12)
= $9,412
So the activity variance is
= $9,328 - $9,412
= $84 unfavorable
As the standard cost is less than the actual one
Apr. 15. Received $800 from Jean Tooley and wrote off the remainder owed of $1,200 as uncollectible. Aug. 7. Reinstated the account of Jean Tooley and received $1,200 cash in full payment.
Required: Journalize the above transactions, using the direct write-off method of accounting for uncollectible receivables. Refer to the Chart of Accounts for exact wording of account titles.
Answer:
Date Account Titles and Explanation Debit Credit
15 Apr Cash $800
Bad debt expenses $1,200
To accounts receivables $2,000
(To writeoff bad debts)
07 Aug Accounts receivables $1,200
To bad debt expenses $1,200
(For reinstatement of earlier written off)
07 Aug Cash $1,200
To account receivables $1,200
(For receipt of cash from customers)
Why does Sutton draw a distinction between endogenous sunk costs, such as advertising, and other sunk costs, such as capital investments?
Answer:
Advertising cost tends to keep increasing compared to other endogenous sunk cost
Explanation:
Sunk cost are defined as cost that have been incurred and cannot be recovered by a business.
Prospective costs on the other hand are those ones a business anticipates it will incur in the future.
Sutton drew a distinction between advertising and other sunk cost because in a competitive market that companies find themselves advertising cost continues to increase to keep the brand visible compared to others.
Companies increasingly invest more in brand awareness.
Other endogenous sunk cost however tend to be relatively constant.
According to Miles and Snow, a company that operates in at least two different product-market areas in which one product is stable and the other one is variable, reflects which strategic orientation?A) initiators
B) reactors
C) analyzers
D) prospectors
E) defenders
The level strategy and the chase strategy are examples of a(an)________ aggregate production strategy.
a) Long term
b) Constant
c) Pure
d) Combined
Answer:
c) Pure
Explanation:
Chase, Level and Mixed are the three type of aggregate production strategy. Both level and chase strategy are pure strategies in terms of operations planning wherein the aggregate resources are matched with that of the capacity to satisfy the production level in its aggregate form, when applied in isolation. The other options of constant, long-term and combined does not hold true because Chase cannot be constant, and level and chase are not mixed to make it a combined one while it could be both long or short term in nature.
The following inventory was available for sale during the year for Dolphin Tools: Beginning inventory 10 units at $120 First purchase 15 units at $165 Second purchase 30 units at $210 Third purchase 20 units at $195 Dolphin Tools has 25 units on hand at the end of the year. What is the dollar amount of inventory at the end of the year according to the first-in, first-out method?a. $6,600.b. $11,900.c. $6,300.d. $7,800.
Answer: $4,950
Explanation:
If the company is using the First In First Out method for Inventory valuation then the earlier inventory is sold off first which would mean that the inventory at year end will be the more recent inventory.
The 25 units at the end of the year will be the most recent units purchased and so will be;
20 units from the third purchase
5 units from the 2nd purchase
Inventory value = (20 * 195) + ( 5 * 210)
= $4,950
The options are not for this question.
You have just landed in London with $ 790 in your wallet. Stopping at the foreign exchange? booth, you see that pounds are being quoted at $1.97/£. For how many pounds can you exchange your $790??
Answer:
£401.02
Explanation:
Exchange rate is defined as the rate at which one currency is exchanged for another.
In international trade exchange rate is used to determine how much a country will pay or recieve in export or import transactions.
In the given instance where the exchange rate is $1.97/£ it means that $1.97 is required to get £1.
So when we want to calculate the amount of pounds $790 can get
$1.97 = £1
$790 = x
Cross multiply
1.97 x = 790 * 1
x = 790 ÷ 1.97
x = £401.02
Define the three economic aspects of monopoly and the three economic effects of oligopoly?
Answer:
MONOPOLY
1) Ownership of a Key Resource
A firm that has exclusive control or ownership of a key resource can restrict access to that resource and establish a monopoly. The limited availability of the key resource will make it impossible for new sellers to enter the market. Although this factor is important in economic theory, monopolies rarely ever arise for this reason in reality anymore. Mainly because most resources are available in various regions across the globe.
One famous example of a monopoly that arose because of ownership of a key resource is the diamond market in the twentieth century. During this period, the company De Beers effectively controlled most of the world’s diamond mines, either through direct ownership or exclusive agreements. As a result, De Beers could dominate the market and influence the market price at will.
2) Government Regulation
The government can restrict market entry by law (e.g. through patents or copyright laws), which may result in a monopoly. Governments usually do this to serve the public interest, because these regulations promote innovation as well as research and development (R&D). The idea behind this is that firms can be rewarded for their R&D efforts by getting exclusive rights to sell their product. Without this kind of protection, it would be more reasonable for many firms to let others do the research and just copy their products once they are on the market. However, this would eventually eradicate all innovation and research.
Arguably the most prominent (and controversial) examples of government-regulated monopolies can be found in the pharmaceuticals industry. It often takes more than a decade for companies to develop new drugs. However, if they succeed, the firms can apply for a patent and become the sole seller of the new drug for a set period of time. This monopoly position allows them to make enough profits to make up for high R&D expenditures.
3) Economies of Scale (i.e. Natural Monopoly)
In some industries, a single firm can supply a good or service at a lower cost than two or more firms could. We call this a natural monopoly (because it arises without government intervention). A natural monopoly can arise in industries where firms face high fixed costs but are able to realize significant economies of scale over the relevant range of output. Those circumstances result in decreasing average total costs as output increases, which makes it more difficult for new firms to enter the market.
The market for electricity is a common example of a natural monopoly. Building the infrastructure to supply a city with electricity is extremely expensive. Thus, the market has high barriers to entry. However, connecting an additional house to the power grid is relatively cheap once the infrastructure is in place. As a result, a single firm can supply a whole city at a lower cost than two or more competing companies could.
Explanation:
OLIGOPOLY
Some of the oligopoly effects are discussed as follows:
i. Restriction on output:
Implies that oligopoly results in small output and high prices as compared to other market structures, such as perfect competition.
ii. Price exceeds average costs:Implies that under oligopoly, there are restrictions on entry of new organizations. Thus, organizations charge prices more than the average costs. Therefore, consumers have to pay more in case of oligopoly market.
iii. Lower Efficiency:
Leads to non-optimum levels of output. This is because the output produced under oligopoly depends on the market share held by the organization. Thus, the oligopoly organizations fail to build the optimum scales of economies and achieve optimum output.
iv. Selling Costs:
Refer to high promotional costs. The oligopolists engage in high promotion tasks to take the share of its rivals. Thus, the resources are wasted in form of high selling costs which do not add to the satisfaction of customers.
Apart from aforementioned points, oligopoly shows the poor performance from various other angles. From the point of economic welfare, it fails to satisfy customers since the price charged is very high, even more than average costs. In addition, sometimes oligopolists may face wasteful fluctuations in output as the output is not determined optimally.
HOPE IT HELPS.
On September 12, Vander Company, Inc. sold merchandise in the amount of $5,800 to Jepson Company on credit with terms of 2/10, n/30. The cost of the items sold is $4,000. Vander uses the gross method of accounting for sales and a periodic inventory system. On September 14, Jepson returns some of the merchandise. The selling price of the merchandise is $500 and the cost of the merchandise returned is $350. Jepson pays the invoice on September 18 and takes the appropriate discount. The journal entry that Vander makes on September 18 is:_________.
A) Cash 5,684
Sales discounts 116
Accounts receivable 5,800
B) Cash 5,800
Accounts receivable 5,800
C) Cash 4,000
Accounts receivable 4,000
D) Cash 5,684
Accounts receivable 5,684
E) Cash 5,194
Sales discounts 106
Accounts receivable 5,300
Answer:
E). Cash 5,194
Sales discounts 106
Accounts receivable 5,300
Explanation:
Preparation of the journal entry that Vander makes on September 18
Preparation of the journal entries made that Vander made earlier
Sep. 12
Dr Accounts receivable 5800
Cr Sales revenue 5800
(Being to record sales on account)
Sep. 14
Dr Sales returns and allowances 500
Cr Accounts receivable 500
(Being to record sales returns)
Preparation of the Journal entry that Vander makes on September 18
Sep. 18
Dr Cash 5194
[($5,800 -$500)- $106]
Cr Sales discount 106
[($5,800-$500) - (2% x $5,300)]
Cr Accounts receivable 5,300
($5,800 - $500)
(Being to record collection on account)
Heidi Company is considering the acquisition of a machine that costs $420,000. The machine is expected to have a useful life of 6 years, a negligible residual value, an annual net cash inflow of $120,000, and annual operating income of $83,721. The estimated cash payback period for the machine is:__________.
a. 5.1 years
b. 5 years
c. 4 years
d. 3.5 years
Answer:
d. 3.5 years
Explanation:
We know that payback period is the estimated length of time it takes cash inflow from a project to recover back the cash outflow.
It is to be noted that the payback period makes use of cash flow and not profit, hence denoted by;
Payback period = Initial cost / Annual net cash inflow
Given that;
Initial cost = $420,000
Annual net cash inflow = $120,000
Therefore,
Payback period = $420,000 / $120,000
Payback period = 3.5 years
how do you pay taxes and is it hard ( just curious)
TRUE or FALSE
1. Stressors are not the same for everyone
2. Adolescence and parents should have open communication
3. Self development is developing the whole person
4. Defense mechanism decrease your anxiety
5. Adolescence is an important period in one's life
Answer:
1. True
2. True
3. True
4. False
5. True
Explanation:
Answer:
1.F
2.T
3.T
4.T
5.T
Explanation:
3.
Jobs Boost as Lidl Unveils Plans for £20m Warehouse Expansion
The German supermarket giant Lidl has plans to expand its distribution centre in County Antrim and open additional stores across Northern Ireland. The company is already recruiting new employees to facilitate its growth and expansion plan. Throughout the build, it could be employing more than 100 construction workers as well.
Source: Belfast Telegraph, June 12, 2015
a. Which of Lidl’s decisions described in the news clip is a short-run decision and which is a long-run
decision?
b. Why is Lidl’s long-run decision riskier than its short-run decision?
Answer:
Lidi
a. Lidi's decisions:
1. short-term decision: The company is already recruiting new employees to facilitate its growth and expansion plan.
2. long-term decision: The German supermarket giant Lidl has plans to expand its distribution centre in County Antrim and open additional stores across Northern Ireland.
Throughout the build, it could be employing more than 100 construction workers as well.
b. Lidi's long-run decision is riskier than its short-run decision because increased uncertainty is involved in the long-run decision than in the short-run decision.
Explanation:
Short-run decisions are the decisions by Lidi that are current, usually within a year's horizon or covering a short period of about 12 calendar months. The long-run decisions are projections for the future, which are always shrouded with uncertainties because it difficult to predict with precision what happens in the long-run.
What spending category claimed the largest share of federal outlays during the 1960s? How about during the most recent decade?
The question is incomplete, below is the complete question.
Summarize how Federal spending priorities has changed since the 1960s.
(Changing budget priorities) What spending category claimed the largest share of federal outlays during the 1960s? How about during the most recent decade?
Answer:
A) Addressing on a national defence,largest share of federal outlays was claimed during the 1960s.
So to say,during the said 1960s, what contributed between 40 to 50 percent of federal outlays is spending on national defence.
B) Following the coming decade, that is during the most recent decade, Federal government having moved it's focus of spending from national defense to income redistribution. Some programs like Medicare,social security as well as other welfare related programs now account for federal spending.
Recently in this decade,just Medicare accounts for up to 30 percent of the federal outlays and when combined with welfare spending,up to 50% percent big outlays is visibly seen for these programs.
Moreover, spending on national defense has always been fixed in recent decades at about 18%.
Assuming no safety stock, what is the reorder point (R) given an average daily demand of 50 units, a lead time of 10 days, and 625 units on hand?
a. 550
b. 500
c. 715
d. 450
e. 475
Answer:
b. 500
Explanation:
Calculation for the what is the reorder point
Using this formula
Reorder point = d*L
where,
d represent average daily demand = 50
L represent Lead Time = 10 days
Let plug in the formula
Reorder Point = 50*10 = 500
Therefore Reorder Point will be 500
Financial information is presented below:________.Operating expenses $ 63000Sales returns and allowances 4000Sales discounts 5000Sales revenue 156000Cost of goods sold 92000The amount of net sales on the income statement would be:_________.
Answer: $147,000
Explanation:
Net Sales is calculated by deducting the Sales returns and allowances as well as the Sales discounts from Sales revenue.
= Sales revenue - Sales returns and allowances - Sales discounts
= 156,000 - 4,000 - 5,000
= $147,000
How,in practice,is cost-benefit analysis of public goods,such as city-funded fireworks displays,usually carried out?
A) through surveys of people attending fireworks displays
B) through surveys of people who live near fireworks displays
C) through public elections of local officials
D) through debates at community forums
E) through the passage of municipal regulations
Answer:
C) through public elections of local officials
Explanation:
The Cost–benefit analysis is also sometimes known as the benefit–cost analysis. It is the systematic approach in estimating the weaknesses and the strengths of the alternatives that is used to determine the options which provides the best method or approach to achieve the benefits while preserving a savings.
It is used to maximize the social welfare. It is for the optimal quantity of any public good. The cost benefit analysis of the public goods like the firework displays should be carried out by a public election of the local officials.
Using the percentage-of-receivables method for recording bad debt expense, estimated uncollectible accounts are $48000. If the balance of the Allowance for Doubtful Accounts is a $5600 credit before adjustment, what is the amount of bad debt expense for that period?
Answer: $42,400
Explanation:
The Bad debt expense for the year will be the Estimated uncollectible amount less the credit balance of the Allowance for doubtful accounts.
= Estimated uncollectible accounts - Credit balance on Allowance for doubtful accounts
= 48,000 - 5,600
= $42,400