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
Good salespeople:_______. A. Help customers buy.B. Are never the only link between the firm and its customers.C. Are not part of the marketing information function for the firm.D. Are not expected to be marketing managers in their own territories.
Answer:
A. Help customers buy
Explanation:
Salespeople can be defined as a group of people or individuals who are saddled with the responsibility of selling goods and services to customers, in order to meet their needs or wants.
Good salespeople help customers buy because they are able to identify the basic requirements, needs, or wants of a customer and as such would be able to easily provide goods that will match the taste of the customers. In other instances, a good salesperson can also make great suggestions of products that a customer can choose from when stuck with multiple products.
What will happen to a typical isoquant if robots become increasingly good at doing manual and mental labor?A. Isoquants will become much steeper.
B. Isoquants will not change but movement will occur upward on the curve.
C. Isoquants will become much flatter.
D. Isoquants will become a negatively sloped straight line.
Answer:
C. Isoquants will become much flatter.
Explanation:
An isoquant which from Latin maeans "equal quantity"can be regarded as counterpart of the consumer's indifference curve of a company, it is curve which shows some kind of consistent amount of output. It can be known with it's negative slope. With isoquant all the inputs that gives rise to the same level of output can be known
Therefore, in a case whereby robots become increasingly good at doing manual and mental labor then a typical isoquant will become much flatter.
Under FICA only, cash tips of more than $100 in a month are defined as taxable wages.
a. True
b. False
Answer:
Option b: False
Explanation:
FICA is simply known as Federal Insurance Contributions Act. It is the act under which this tax is also deducted from the paycheck.The FICA tax rates and taxable wage bases are exactly the same for employees and employers.
Government uses FICA tax to provide
an income check to people at retirement age,health care, another service and others. It it a body that has its own rules, regulations and default in any of them may lead to penalty.
Big Lite Inc. purchases Canton Bulbs, its direct competitor, by buying most of its stock. In this scenario, Big Lite Inc. is involved in a(n) _____.
a. acquisition
b. leveraged buyout
c. conglomerate merger
d. franchise
e. vertical merger
Answer:
a. acquisition
Explanation:
Acquisition takes place when a company buys more or all the shares of another company to gain control over that company. when a company buy more than 50% of the stock and other assets allows the buyer to make decisions about newly acquired assets with no approval of the company shareholderso correct answer is a. acquisitionThe nonmoney benefits a person may receive in a job are sometimes referred to by economists as:___________.
A. nonpayment benefits
B. pecuniary benefits
C. nonpecuniary benefits
D. internal payments
Answer:
C. nonpecuniary benefits
Explanation:
Nonpecuniary benefits are also referred to as non cash benefits that are earned by employees as they occupy a particular position in a company.
Examples of nonpecuniary benefits are official car, accommodation, and schooling packages.
The non cash benefits an employee gets on a job are as important as the cash compensation they will get.
Nonpecuniary benefits go a long way in creating a conducive working environment to work.
Risk-taking and financing activities of channel intermediaries:
a, Is an important basic channel function these days.
b. Have been greatly increased over the last one hundred years.
c. Have been greatly reduced over the last one hundred years.
d. Both A and B
Answer:
c) Have been greatly reduced over the last one hundred years
Explanation:
financing activities which could be explained as the activities that involves
flow of cash when doing a business among business owner and creditors, it includes selling if stock, payment of dividend, paying back of investors and others, however in financial activities, risk taking is very crucial, when taking loan to run a business is a risk taking and other activities that may result in loss. It should be noted that Risk-taking and financing activities of channel intermediaries Have been greatly reduced over the last one hundred years
When using annual worth to evaluate the attractiveness of a single alternative, what value is the calculated AW compared to in determining if an investment is attractive?
a. PW
b. FW
c. 0.0
d. MARR
Option "C" is the correct answer to the following question.
0.0 is the correct answer.
The computed AW comparison to 0.0 in evaluating if an expenditure also investment is appealing when utilizing annual worth to determine the competitiveness of a single option.
If AW is less than zero, it is a good investment.
As a result, AW's standard is zero.
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Why do people buy stocks?
Answer:
Investors buy stocks for various reasons. Here are some of them: Capital appreciation, which occurs when a stock rises in price. Dividend payments, which come when the company distributes some of its earnings to stockholders.
3) A 20 year mortgage set up for uniform monthly payments with 6 percent interest compounded monthly is taken over by a new owner after 8 years. At that time $12,000 is still owed on the principal. What was the amount of the original loan?
Answer:
Original loan = $16,344.91
Explanation:
No of monthly payments remaining at the end of 8 years = 12* 12 = 144
Monthly rate= 6%/12 = 0.5% = 0.005
Loan balance at the end of year 8 = Present value of remaining 144 monthly payments
Present value of annuity = Annuity amount * {1-(1+r)^-n}/r
$12,000 = Monthly payment * (1-1.005-144)/0.005
$12,000 = Monthly payment * 102.47474
Monthly payments = $12,000/102.47474
Monthly payments = $117.10
Original loan = Present value of 240(20 years *12) monthly payments
Original loan = $117.10*(1-1.005^-240)/0.005
Original loan = $16,344.91
Explain why, in the absence of a patent, a technical innovation invented and pioneered in one tofu factory will cause the supply curve for the entire tofu industry to shift to the right. What will finally halt the rightward shift? Use supply and demand curves to demonstrate what happens. If the government grants a patent to the one tofu firm that developed the innovation, what type of market for the newly innovated and differentiated product would result (ie perfect competition, monopolistic competition, oligopoly, or monopoly)? Why would the government do this? What would happen to price and consumer surplus under a patent?
Answer:
We should start by assuming that before the technological break through is made, the tofu industry is at equilibrium. The new technology will result in the production costs of tofu decreasing, which will shift the supply curve to the right. At first, production costs of just the innovative firm will decrease, but eventually other firms will catch up with the new technology. In the short run, the innovative firm will be able to make an economic profit since the industry will not have reached equilibrium. But after a while, as more firms adopt the new technology, equilibrium will be reached and economic profit will disappear (halting the rightward shift).
If the government grants a patent to the innovative firm that developed the new technology, then a monopoly might result. This is something similar to monopolies resulting from patents in the pharmaceutical industry. The profits of this specific company will increase, resulting in economic profit. Governments hand out patents as a way to reward innovation and encourage it. Imagine if patents didn't exist, how many companies would invest billions in R&D if they know that their competition will use that research for free?
When patents are granted, prices increase, and consumer surplus decreases.
If a manufacturing process takes 4 hours per unit of x and 2 hours per unit of y and a maximum of 100 hours of manufacturing process time are available,then an algebraic formulation of this constraint is:_______.
A) 4x + 2y ï³ 100
B) 4x ï 2y ï£ 100
C) 4x + 2y ï£ 100
D) 4x ï 2y ï³ 100
Answer:
The algebraic formulation of the constraint is 4X+2Y ≤ 100
Explanation:
The algebraic formulation of the constraint is shown below:
Given that
The number of hours taken per unit of x is 4 hours
And the number of hours taken per unit of x is 2 hours
And, the maximum hours available is 100
Now based on the above information
The algebraic formulation of the constraint is
= 4X+2Y ≤ 100
hence, the same is to be considered
What kind of warranty is often offered not through the manufacturer but instead through a third party? a. manufacturer’s warranty b. extended warranty c. full warranty d. limited warranty Please select the best answer from the choices provided
Answer:
The correct answer is B.
Explanation:
I just took the test, and B is correct.
An extended warranty is often offered by a third party instead of a manufacturer. The correct option is b.
What do you understand about an extended warranty?An extended warranty or service agreement is a prolonged warranty offered to customers in addition to the standard warranty on new items. This kind of warranty can be offered by the warranty administrator, the retailer or the manufacturer.
Extended warranties cost extra and for a percentage of the item's retail price. Occasionally some extended warranties that are purchased for multiple years state in writing that during the first year the consumer must still deal with the manufacturer in the occurrence of malfunction.
There are certain terms and conditions in extended warranty which may not match the original terms and conditions. For instance, these may not cover anything other than mechanical failure from normal usage.
Some common examples of extended warranties are automobiles and electronics.
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The Hewitt Company has calculated that their average collection period (ACP) is 25 days. They are hoping that the new cash discounts they have implemented will reduce the ACP. After one month, they have the following data: 60% pay in 15 days and 40% pay in 30 days. How much is the change in the ACP?
a. 4 days reduced
b. 4 days increased
c. 17 days increased
d. 21 days reduced
Answer:
a. 4 days reduced
Explanation:
Calculation for How much is the change in the ACP
First step is to calculate New Collection Period
New Collection Period =( 60% * 15 Days) + (40% * 30 Days )
New Collection Period=9 Days+12 Days
New Collection Period= 21 Days
Last step is to calculate Change in ACP using this formula
Change in ACP =Current Average Collection Period -New Collection Period
Let plug in the formula
Change in ACP = 25 Days - 21 Days
Change in ACP= 4 Days (Reduced)
Therefore the change in the ACP will reduced by 4 days
Priscilla Presley and investment manager Jack Snowden formed _____________ on June 7, 1982 to conduct business and manage the assets of Elvis' estate.
Priscilla Presley and investment manager Jack Snowden formed a Partnership on June 7, 1982, to conduct business and manage the assets of Elvis' estate.
An agreement between two or more people to manage a business's operations and divide its assets and liabilities is known as a partnership.
What is the function of partnership?A partnership agreement is a legally binding agreement between two or more people or other legal entities with the aim of establishing a business entity.
There must be at least two people present. There must be an understanding. The business must distribute its gains. Mutual agency is required, meaning that all of them must do business on their own behalf or that any one of them may do so.
A partnership is a type of business where two or more persons enter into a legal agreement to be co-owners, share in the organization's profits or losses, and divide the duties for managing it.
All partners in a general partnership corporation split the company's assets and debts equally. Lawyers and other professionals frequently create limited liability partnerships.
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If capital is held constant, what happens when the price that firm receives for its goods increases?
Answer:
Then the constant increases?
Laurel, Inc., and Hardy Corp. both have 9 percent coupon bonds outstanding, with semiannual interest payments, and both are priced at par value. The Laurel, Inc., bond has four years to maturity, whereas the Hardy Corp. bond has 15 years to maturity.
If interest rates suddenly rise by 2 percent, what is the percentage change in the price of these bonds?(Negative answers should be indicated by a minus sign. Do not round intermediate calculations and round your final answers to 2 decimal places. (e.g., 32.16))
Percentage change in price of Laurel %
Percentage change in price of Hardy %
If interest rates were to suddenly fall by 2 percent instead, what would the percentage change in the price of these bonds be then? (Do not round intermediate calculations and round your final answers to 2 decimal places. (e.g., 32.16))
Percentage change in price of Laurel %
Percentage change in price of Hardy %
Answer:
If interest rate rises by 2%
Laurel Inc:
Percentage change in price = -0.0633 or -6.33%
Hardy Corp:
Percentage change in price = -0.1453 or -14.53%
If interest rate falls by 2%
Laurel Inc:
Percentage change in price = 0.06874 or 6.874%
Hardy Corp:
Percentage change in price = 0.1839 or 18.39%
Explanation:
Lets assume that both the bonds have a face value of $1000 and an initial coupon rate and interest rate of 9%. As the bonds are priced at par initially, this means that the interest rate or YTM is also 9%
If interest rates rises by 2%
We will first calculate the price of both the bonds then calculate the percentage change in prices.
To calculate the price of the bond today, we will use the formula for the price of the bond. As the bond is a semi annual bond, the coupon payment, number of periods and semi annual YTM will be,
When interest rates rise by 2%.
Laurel Inc
Coupon Payment (C) = 1000 * 0.09 * 6/12 = 45
Total periods (n) = 4 * 2 = 8
New interest rate = 9% + 2% = 11%
New interest rate or YTM (semi annual) = 0.11 * 6/12 = 0.055 or 5.5%
The formula to calculate the price of the bonds today is attached.
Bond Price = 45 * [( 1 - (1+0.055)^-8) / 0.055] + 1000 / (1+0.055)^8
Bond Price = $936.6543 rounded off to $936.65
Percentage change in price = (936.65 - 1000) / 1000 = -0.0633 or -6.33%
Hardy Corp
Coupon Payment (C) = 1000 * 0.09 * 6/12 = 45
Total periods (n) = 15 * 2 = 30
New interest rate = 9% + 2% = 11%
New interest rate or YTM (semi annual) = 0.11 * 6/12 = 0.055 or 5.5%
The formula to calculate the price of the bonds today is attached.
Bond Price = 45 * [( 1 - (1+0.055)^-30) / 0.055] + 1000 / (1+0.055)^30
Bond Price = $854.6625 rounded off to $854.66
Percentage change in price = (854.66 - 1000) / 1000 = -0.1453 or -14.53%
When interest rate falls by 2%
Laurel Inc
Coupon Payment (C) = 1000 * 0.09 * 6/12 = 45
Total periods (n) = 4 * 2 = 8
New interest rate = 9% - 2% = 7%
New interest rate or YTM (semi annual) = 0.07 * 6/12 = 0.035 or 3.5%
The formula to calculate the price of the bonds today is attached.
Bond Price = 45 * [( 1 - (1+0.035)^-8) / 0.035] + 1000 / (1+0.035)^8
Bond Price = $1068.7395 rounded off to $1068.74
Percentage change in price = (1068.74 - 1000) / 1000 = 0.06874or 6.874%
Hardy Corp
Coupon Payment (C) = 1000 * 0.09 * 6/12 = 45
Total periods (n) = 15 * 2 = 30
New interest rate = 9% - 2% = 7%
New interest rate or YTM (semi annual) = 0.07 * 6/12 = 0.035 or 3.5%
The formula to calculate the price of the bonds today is attached.
Bond Price = 45 * [( 1 - (1+0.035)^-30) / 0.035] + 1000 / (1+0.035)^30
Bond Price = $1183.9204 rounded off to $1183.92
Percentage change in price = (1183.92 - 1000) / 1000 = 0.1839 or 18.39%
The depreciation method that charges the same amount of expense to each period of the
asset's useful life is called:
Answer:
The straight-line depreciation method
Explanation:
Under the straight-line method, the depreciation amount is a percentage of the asset value at cost. The percentage is the depreciation rate. It is obtained by dividing one by the number of useful years.
i.e. depreciation rates =1/ useful life x 100.
Since the depreciation rate will be constant, and the asset cost does not change its value, the depreciation amount will be a constant figure throughout the useful life of the asset.
which of the following is a collaboration of software
Answer:
I dont see anything
Explanation:
why do you think states have licensing requirements for certain occupations?
Answer: to prevent improper use or causing an issue with the thing they have to get a license for
The Food Marketing Institute shows that 17% of households spend more than $100 per week on groceries. Assume the population proportion is p 5 .17 and a simple random sample of
800 households will be selected from the population.
Answer:
23.14
Explanation:
Storico currently has 30,000 shares outstanding that sell for $47.27 per share. The company plans to issue a stock dividend of 10 percent. How many new shares will be issued?
Answer:
The number of new shares that will be issued is 3,000 shares.
Explanation:
A stock dividend can be desctibed as dividend that paid to shareholders in shares instead of paying it in cash to the shaeholders.
From the question, we are given the following:
Number of shares outstanding = 30,000
Planned stock dividend percentage = 10%
Therefore, the number of new shares that will be issued as stock dividend to the shareeholders of Storico can be calculated as follows:
Number of new shares to issue = Number of shares outstanding * Planned stock dividend percentage = 30,000 * 10% = 3,000
Therefore, the number of new shares that will be issued is 3,000 shares.
A retailer such as Dillard's, Macy’s, or Sears sells products that it doesn’t produce. The retailer employs sales associates who receive varying levels of sales compensation. This type of scenario highlights third-party sales. Third-party sales are
Answer:
Conducted by anyone other than the producer of a product or service.
Explanation:
Conducted by anyone other than the producer of a product or service. Third party means not by the original producer.
Once a project is underway, the project manager is responsible for the:_______a. people. b. cost. c. time. d. All of these
Answer:
I think the answer is D. All of the above
Explanation:
When a project is underway, the project manager is responsible for the management of the:
peoplecosttimeWho is a project manager?This is a manager that are responsible for planning, organizing and directing the completion of specific projects for an organization.
Therefore, the Option D is correct.
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Cullumber Manufacturing Company purchased 14600 switches to make 6300 units. The standard allows for 2 switches per unit. The company actually used 15100 to produce the 6300 units. Cullumber budgeted $0.75 per switch but had to pay $0.80 per switch. What is Cullumber’s direct materials quantity variance for the period?
a. $1875 favorable
b. $1000 favorable
c. $2000 unfavorable
d. $1875 unfavorable
Answer:
d. $1,875 unfavorable
Explanation:
Direct material quantity variance is computed as;
= (AQ - SQ) × SP
AQ = Actual quantity = 6,300 units
SQ = Standard quantity = 14,200 / 2 = 7,300 units
SP = Standard price = $0.80
Direct material quantity variance
= (6,300 - 7,300) × 0.80
= -1,000 × $0.80
= -1,875 unfavorable
1- In 2013, Walmart decided to enter the Indian market in a joint-venture with Bharti Enterprises. Based upon your analysis of Walmartâs global expansion up to that point, do you think it was a good idea to go to India? To select joint-venture mode of entry?
2- In general, what do you think is the best way to enter a new market: acquisition, joint venture, or greenfield investment? (please compare and contrast) What is the impact on the Supply Chain? What are the location characteristics that affect this decision? What are the firm characteristics that affect this decision? What industry characteristics affect the decision?
Answer:
1- Walmart wanted global expansion and it availed the opportunity to expand its business by entering Indian market, however the Indian market is far different than the US market that is why a joint-venture was required to enter the different market as Bharti Enterprises was already operating in Indian market.
2- To enter a new market Joint-venture will be suitable because:
In acquisition the investor acquires all the shares of an existing organisation in this way the investor will not be able to operate with the same name as in other markets as the organisation whose shares are purchased already will have a name which if changed all the goodwill will be lost. In a Joint venture the investor and a local investor invests together to form a different organisation, in this method the organisations jointly own a newly formed organisation in which they both jointly decide the name and the local investor have knowledge about the local market which can be helpful if the customer taste is different than the investors market. In a Greenfield investment the investor purchases shares and bonds of an organisation already operating in the targeted market, in this way the investor will not be able to operate with the same name as in other markets as the organisation whose shares are purchased already will have a name which if changed all the goodwill will be lost.
Explanation:
1- Walmart wanted global expansion and it availed the opportunity to expand its business by entering Indian market, however the Indian market is far different than the US market that is why a joint-venture was required to enter the different market as Bharti Enterprises was already operating in Indian market.
2- To enter a new market Joint-venture will be suitable because:
In acquisition the investor acquires all the shares of an existing organisation in this way the investor will not be able to operate with the same name as in other markets as the organisation whose shares are purchased already will have a name which if changed all the goodwill will be lost. In a Joint venture the investor and a local investor invests together to form a different organisation, in this method the organisations jointly own a newly formed organisation in which they both jointly decide the name and the local investor have knowledge about the local market which can be helpful if the customer taste is different than the investors market. In a Greenfield investment the investor purchases shares and bonds of an organisation already operating in the targeted market, in this way the investor will not be able to operate with the same name as in other markets as the organisation whose shares are purchased already will have a name which if changed all the goodwill will be lost.
On April 12, Hong Company agrees to accept a 60-day, 9%, $7,200 note from Indigo Company to extend the due date on an overdue account. What is the journal entry that Indigo Company would make, when it records payment of the note on the maturity date? (Use 360 days a year.) A) Debit Cash $7,308; credit Interest Revenue $108; credit Notes Receivable $7,200. B) Debit Cash $7,308; credit Interest Revenue $108, credit Notes Payable $7,200. C) Debit Notes Payable $7,200, credit Interest Expense $108, credit Cash $7,092. D) Debit Notes Payable $7,200; debit Interest Expense $162; credit Cash $7,362 E) Debit Notes Payable $7,200; debit Interest Expense $108; credit Cash $7,308.
Blossom Company has provided you with the following sales data. September October November December Budgeted unit sales 20000 30000 50000 40000 The company requires that 5% of the next monthâs sales be on hand at the end of each month. Budgeted production for October is:_____________
Answer:
Production= 31,000
Explanation:
Giving the following information:
Sales:
October= 30,000
November= 50,000
The company requires that 5% of the next month's sales be on hand at the end of each month.
To calculate the production for October, we need to use the following formula:
Production= sales + desired ending inventory - beginning inventory
Production= 30,000 + (50,000*0.05) - (30,000*0.05)
Production= 31,000
A federal budget deficit can strain credit markets, forcing the real rate of interest to decrease. True False
Answer:
False
Explanation:
When the federal government has a budget deficit, it needs to borrow money to continue operating. It borrows money from the market, i.e. sells securities. This results in the crowding out effect since the funds used by the federal government cannot be used by private investors to finance private projects. Since the FED competes with private entities for available money, this with cause the real price of money, or the real interest rate, to increase.
Land originally purchased for $25,574 is sold for $78,584 in cash. What is the effect of the sale on the accounting equation?
Answer:
assets increase by $$53,010; owner’s equity increases by $$53,010
Explanation:
Calculation for the What is the effect of the sale on the accounting equation
Using this formula
Profit on sale of land = Proceed from sale - Cost of land
Let plug in the formula
Profit on sale of land =$78,584 -$25,574
Profit on sale of land = $53,010
The accounts that will be affected in the accounting equation are:
Cash will increase by $78,584
Land will decrease by $25,574
Owners equity will increase by $53,010
Therefore the effect of the sale on the accounting equation is that Assets increase by $53,010; Owner’s equity increases by $53,010
During 2020, Flint Corporation reported net sales of $5,490,000 and net income of $1,320,000. Its balance sheet reported average total assets of $1,500,000. Calculate the asset turnover.
Answer:
The asset turnover is 3.66 times
Explanation:
Asset Turnover is the efficiency rate of the assets of the business to generate revenue for the business. It shows how efficiently the assets of the business are used to generate revenue for the business.
Formula for Asset turnover is as follow
Asset Turnover = Net sales / Average total assets
Asset Turnover = $5,490,000 / $1,500,000
Asset Turnover = 3.66 times
It means that the sale for the period is generated to 3.66 times of average total asset of the business.