Answer:
b. credit to Sales Revenue for $600.
Explanation:
The sales tax is 7% of the sales price which is $600
Sales tax=7%*$600=$42
The journal entries for this transaction would have a debit of $642(sales price plus sales tax i.e $600+$42=$642) in the cash account and not credit as shown by option a.
Also, sales revenue would be credited with sales price of $600 while sales tax payable is credited with the amount of sales tax which is $42( not a debit as shown by option e)
question 5 eiyfgeyfie
Answer:
where's the question?
Brian Inc. borrowed $8,000 from First Bank and signed a promissory note. What entry should Brian Inc. record?
Answer:
Dr Notes Receivable $8,000
Cr Cash $8,000
Explanation:
Based on the information given we were told that Brian Inc. borrowed the amount of $8,000 from First Bank in which they signed a promissory note which means that the journal entry that Brian Inc. should record the transaction is :
Dr Notes Receivable $8,000
Cr Cash $8,000
In an effort to create a healthcare safety net, the government requires employers to provide healthcare coverage to all employees. What impact will this increased coverage have on the supply of hospital beds in the short run?
a. It will decrease the supply
b. It will not affect the supply.
c. It will increase the supply.
Answer: It will decrease the supply
Explanation:
From the question, we are informed that in order to create a healthcare safety net, the government requires employers to provide healthcare coverage to all employees. Due to this, there will a rise in the number of hospital beds that will be required to cover for more people.
Since there is an increase in demand, there will be a reduction in supply in the short run as the increase in demand will be more than the supply of bed.
King Corporation owns machinery with a book value of $760,000. It is estimated that the machinery will generate future cash flows of $700,000. The machinery has a fair value of $560,000. King should recognize a loss on impairment of:_____.
A. $ 60,000.
B. $ 140,000.
C. $200,000.
D. $ -0-.
E. None of the other answers are correct.
Answer:
C. $200,000.
Explanation:
The computation of the impairment loss is shown below:
= Book value of the machinery - fair value of machinery
- $760,000 - $560,000
= $200,000
Hence, the impairment loss is $200,000
Therefore the correct option is c.
We simply applied the above formula so that the correct value could come
And, the same is to be considered
Which of the following is not a level of control
Answer:
ere are the option???
Explanation:
A survey reveals that, on a small island, 175 people have jobs, 25 people are not working but are looking for jobs, and 90 people are neither working nor looking for work. The unemployment rate on the island is:____.
Answer:
The answer is = 12.5%
Explanation:
The 175 people that have jobs are in unemployment (employed).
The 25 people that are not working but are looking for jobs are called unemployed.
The 90 people are neither working nor looking for work for work are not counted in the employment.
Therefore, the labor force is employed people + unemployed people.
Labor force is 175 + 25= 200 people.
So, unemployment rate is:
(unemployed people ÷ labor force) x 100
(25÷200) x 100%
=12.5%
Zwick Company bought 25,500 shares of the voting common stock of Handy Corporation in January 2021. In December, Handy announced $202,700 net income for 2021 and declared and paid a cash dividend of $3.00 per share on all 202,500 shares of its outstanding common stock. Zwick Company's dividend revenue from Handy Corporation in December 2021 would be:
Answer:
$76,500
Explanation:
Zwick Company owns 25,500 shares of Handy Corporation, which represents 25,500 / 202,500 = 12.59% of all common stocks. Since Zwick influence over Handy is not significant, all dividends received will be directly considered dividend revenue.
total dividends received = $3 per share x 25,500 shares = $76,500
Marigold Corp. constructed a building at a cost of $30600000. Weighted-average accumulated expenditures were $13000000, actual interest was $1300000, and avoidable interest was $604000. If the salvage value is $2400000, and the useful life is 40 years, depreciation expense for the first full year using the straight-line method is
Answer: 720,100
Explanation:
Given that:
Cost of building = 30600000
Avoidable interest = 604,000
Salvage value = 2400000
Useful life = 40 years
((Cost of building + Avoidable interest) - salvage value)) / 40
((30600000 + 604000) - 2400000)) / 40
= 28804000 / 40
= 720,100
You have been offered a 10-year bond issued by Tiger Inc., at a price of $950.00. The bond has a coupon rate of 8% and pays the coupon semiannually. Similar bonds in the market offers a yield of 9% today. Should you buy the bonds at the offered price
Answer:
since the market price is lower than the offered price, you should reject this offer
Explanation:
bond's market value
PV of face value = $1,000 / (1 + 4.5%)²⁰ = $414.64
PV of coupon payments = $40 x 13.00794 (PV annuity factor, 20 periods, 4.5%) = $520.32
market price = $934.96
since the market price is lower than the offered price, you should reject this offer
Last year, Big W Company reported earnings per share of $2.70 when its stock was selling for $40.50. If its earnings this year increase by 10% and the P/E ratio remains constant, what will be the price of its stock?
Answer: $44.55
Explanation:
P/E ratio last year = Market price / Earnings per share
= 40.50/2.70
= 15
PE ratio remains constant.
Earnings increase by 10% = 2.70 * 1.10 = $2.97
15 = Market Price / 2.97
Market Price = 15 * 2.97
= $44.55
_____ is the system used to record a firm's financial transactions in a routine and clerical process.
Answer:
book-keeping
Explanation:
The MerryWeather Firm wants to raise $11 million to expand its business. To accomplish this, the firm plans to sell 15-year, $1,000 face value zero-coupon bonds. The bonds will be priced to yield 4%. What is the minimum number of bonds the firm must sell to raise the $11 million it needs?
a. 20,711.
b. 113,377.
c. 41,422.
d. 56,688.
e. 23,000.
Answer:
$19,810.54
Explanation:
Calculation for the minimum number of bonds the firm must sell to raise the $11 million it needs
First step is to calculate the price of each bond
Price of each bond =1,000 / (1+0.04)^15
Price of each bond =1,000 / (1.04)^15
Price of each bond =$555.26
Now let calculate the minimum number of bonds the firm must sell
Minimum number of bonds to sell=$11 million/$555.26
Minimum number of bonds to sell=$19,810.54
Therefore the minimum number of bonds the firm must sell to raise the $11 million it needs is
$19,810.54
Which sentence in this excerpt from Ambrose Bierce's "An Occurrence at Owl Creek Bridge" uses personification? Excepting the group of four at the center of the bridge, not a man moved. The company faced the bridge, staring stonily, motionless. The sentinels, facing the banks of the stream, might have been statues to adorn the bridge. The captain stood with folded arms, silent, observing the work of his subordinates, but making no sign. Death is a dignitary who when he comes announced is to be received with formal manifestations of respect, even by those most familiar with him. In the code of military etiquette silence and fixity are forms of deference.
Answer:
The sentence in this excerpt from Ambrose Bierce's "An Occurrence at Owl Creek Bridge" that uses personification is:
Death is a dignitary who when he comes announced is to be received with formal manifestations of respect, even by those most familiar with him.
Explanation:
Here, Ambrose Bierce or the narrator addresses death as a person. He makes death to become a dignitary, capable of visiting a person or community. Grammatically, personification is a literary device or a figure of speech in which human attributes or characteristics are ascribed to non-human things or objects as if they were human. It uses metaphor, another literary device, to achieve this attribution.
Answer:
Death is a dignitary who when he comes announced is to be received with formal manifestations of respect, even by those most familiar with him.
Explanation:
Paolo owns a pizza shop. The price of pizza recently increased from $3 to $5 a slice. Paolo responded by increasing the quantity of slices he supplied from 100 to 150 slices per day. By the midpoint method, Paolo's price elasticity of supply is:_______.
Answer:
Paolo's price elasticity of supply is 0.80.
Explanation:
From the question, we have:
New quantity supplied = 150
Old quantity supplied = 100
New price = $5
Old price = $3
Generally, the formula for calculating the price elasticity of supply is as follows:
Price elasticity of supply = Percentage change in quantity supplied / Percentage change in price ................ (1)
Where, based on the midpoint formula, we have:
Percentage change in quantity supplied = {(New quantity supplied - Old
quantity supplied) / [(New quantity supplied + Old quantity supplied) /
2]} * 100 = {(150 - 100) / [(150 + 100) / 2]} * 100 = 40%
Percentage change in price = {(New price - Old price) / [(New price + Old
price) / 2]} * 100 = {(5 - 3) / [(5 + 3) / 2]} * 100 = 50%
Substituting the values into equation (1), we have:
Price elasticity of supply = 40% / 50% = 0.80
Therefore, Paolo's price elasticity of supply is 0.80.
On June 1 of the current year, Cross Corp. issued $300,000 of 8% bonds payable at par with interest payment dates of April 1 and October 1. In its income statement for the current year ended December 31, what amount of interest expense should Cross report?
a. $14,000.
b. $6,000.
c. $12,000.
d. $8,000.
Answer: amount of interest expense Cross should report =a. $14,000.
Explanation:
interest expense = Principal( Face value) x Rate x period( Time)
Carrying value of the bond ( face value ) =$300,000
Rate= 8%
year ended on December, therefore The interest expense recorded would be for four months ( From June 1 to December 31 )
Therefore the Interest Expense = $300,000 x 8% x 7/12
= $300,000 x 0.08 x 7/12
= $168,000/12
$14,000
The amount of interest expense Cross should report at the current year end is $14,000
Celeste transferred 100 percent of her stock in Supply Chain Company to Marketing Corporation in a Type A merger. In exchange, she received stock in Marketing with a fair market value of $562,000 + $562,000 in cash. Celeste's tax basis in the Supply Chain stock was $1,320,000. What amount of loss does Celeste recognize in the exchange and what is her basis in the Marketing stock she receives?
Answer: $196000
Explanation:
Firstly, we have to calculate the stock basis which will be the difference between the carryover Basis and the cash received. This will be:
= $1,320,000 - $562,000
= $758,000
If the sticks are being sold at $562,000, this will bring about a loss of:
= $758,000 - $562,000
= $196000
Belkin co provides medical care and insurance benefits to its retireees in the current year belkin agrees to contribute 5% of the employees 310000 gross salaries to a terirement program what is the amount of employee benefits expense for the current period?
a. $25
b. $100
c. $250
d. $12,500
e. $25,000
Answer: 15,500
Explanation:
From the question, we are informed that Belkin co provides medical care and insurance benefits to its retireees in the current year Belkin agrees to contribute 5% of the employees 310000 gross salaries to a terirement program.
The amount of employee benefits expense for the current period will be calculated as:
= 5% × 310,000
= 5/100 × 310,000
= 0.05 × 310,000
= 15,500
Flavor Enterprises has been approached about providing a new service to its clients. The company will bill clients $140 per hour; the related hourly variable and fixed operating costs will be $75 and $18, respectively. If all employees are currently working at full capacity on other client matters, the per-hour opportunity cost of being unable to provide this new service is:______
a. $0.
b. $47.
c. $65.
d. $93.
e. $140.
Answer:
c. $65.
Explanation:
The computation of the per hour opportunity cost is as follows:
= Per hour revenue - per hour variable cost
= $140 - $75
= $65
The fixed cost would not be considered as it is a sunk cost
Therefore the per hour opportunity cost is $65
We simply applied the above formula so that the correct value could come
And, the same is to be considered
What is the percentage return on a stock that was purchased for $48.40, paid a $1.67 dividend, and was then sold after one year for $46.20?
a) -1.10%
b) -2.50%
c) 0.23%
d) -0.33%
Answer:
a) -1.10%
Explanation:
To calculate the holding period return we will use the foloowinf formula
Holding Period return = ( Dividend Income + Price appreciation ) / Initial price
Where
Dividend Income = $1.67
Price appreciation = Selling Price - Initial price = $46.20 - $48.40 = -$2.20
Initial Price = $48.40
Placing the above values in the formula of Holding period return
Holding period return = ( $1.67 + ( -$2.2 ) ) / $48.40
Holding period return = ( $1.67 - $2.2 ) / $48.40
Holding period return = -$0.53 / $48.40
Holding period return = -0.01095
Holding period return = -1.095%
Holding period return = -1.10%
On the foundation day of an organization, the president of the organization awards exceptionally performing employees with a bouquet and a plaque at a banquet every year. This is an example of:
Answer:
Ceremony
Explanation:
Ceremony which can as well be reffered to as Rites and Rituals in an organization can be regarded as a pre-planned events which has social, formalities as well as latents purposes. This manifest purpose have effect on how the organization is working and in aiding the acheiving the organizational goals. It involves motivation of employee in the organization by giving bout award to the outstanding among them. For instance, On the foundation day of an organization, the president of the organization awards exceptionally performing employees with a bouquet and a plaque at a banquet every year is an example of a ceremony.
When the grocery store orders a large shipment of chocolate candy just before Valentine's Day, this type of inventory is typically called:_______
A. Smoothing Inventory
B. Hedge Inventory
C. Cycle Stock
D. Transportation Inventory
E. Anticipation Inventory
Answer:
E. Anticipation Inventory
Explanation:
In the case when the grocery store wants to order for a big chocolate shipment prior to the valentine day so there the inventory type would be anticipation inventory as it represents the demand anticipation for the forthcoming event i.e. valentine day
So the same is to be considered
Hence, the correct option is E
And, the other options are incorrect
In U.S. price support programs, the "loan rate" is:______.
a. determined by Federal Reserve policy.
b. the interest rate a farmer must pay if he borrows from the government with his crop as collateral.
c. the difference between the market price and the target price.
d. the proportion of the farmer's crop he can loan to the government.
e. the effective price (i.e. price floor) for the commodity to ensure loan repayment.
Answer: E. the effective price (i.e. price floor) for the commodity to ensure loan repayment
Explanation:
The Price Support Programm is a policy by the government that is used in order to help farmers when there's a reduction in prices of agricultural products by giving out insurance to the farmers.
In U.S. price support programs, the "loan rate" is simply the effective price (i.e. price floor) for the commodity to ensure loan repayment.
The marginal propensity to expend is 0.5 and there is a recessionary gap of $200. What fiscal policy would you recommend? (Assume mpe mpc)
A. Expansionary fiscal policy, increase government expenditures by $100, or cut taxes by $200.
B. Contractionary fiscal policy, decrease government expenditures by $200, or cut taxes by $100
C. Contractionary fiscal policy,decrease govenment expenditures by $100, or cut taxes by $200.
D. Expansionary fiscal policy, increase government expenditures by $200, or cut taxes by $100.
Answer: A. Expansionary fiscal policy, increase government expenditures by $100, or cut taxes by $200.
Explanation:
Recessionary gap = $200
Marginal Prospensity to Consume = 0.5
Spending multiplier will them be calculated as:
= 1/(1-0.5)
= 2
Tax multiplier will be:
= -0.5/(1-.5)
= -1
Therefore, the answer is option A"Expansionary fiscal policy, increase government expenditures by $100, or cut taxes by $200"
Congress votes to substantially increase the minimum wage. The determinant causing the shift in this scenario is:___________.
Answer:
resource cost or availability
Explanation:
In the case when there is a votes of congress that rise the minimum wage. So this results in the shifting of the cost of the resource or the availability
Therefore as per the given situation there would be rightward shifting as the minimum wage is rised
Also the shifting could be done with respect to the resource cost or the availability
dishwashers. How many of each type should Sparkle Clean produce to fulfill the order AND minimize their production cost
Answer:
hello your question is incomplete attached below is the complete question
Answer :
112 units of standard dishwashers and
178 units of deluxe dishwashers
Explanation:
from the calculations we can see that
D(x,y) > 0 and Vxx > 0
The cost will be minimized during production when 112 units of standard dishwashers and 178 units of deluxe dishwashers are produced by sparkle clean
attached below is a detailed solution
The term inadequacy refers to:______
A. The inability of a plant asset to meet its demands.
B. An asset that is worn out.
C. An asset that is no longer functional.
D. The condition where the salvage value is too small to replace the asset.
Answer: A. The inability of a plant asset to meet its demands.
Explanation:
When something is said to be inadequate, it means that it is not in enough quantity or rather lacks the capacity to perform the tasks that it is needed for.
The same goes when this is being spoken in relation to an asset. A plant asset that is inadequate is unable to meet the demands that it was acquired for.
Amy Farmer is getting a loan to buy a used car.The bank wants to know the trade-in value of the car she is purchasing.Which of the 5 Cs of credit is the bank examining?
A) Character
B) Capacity
C) Capital
D) Collateral
E) Conditions
Answer:
D) Collateral
Explanation:
In the given situation it is mentioned that the Amy farmer wants a loan so that Amy could purchased the car also the bank wants to know the car trade in value So here the examination done by the bank would be collateral as the loan is to be taken for buying a car
So the same is to be considered
hence, the correct option is D
And all the other options are incorrect
An investor purchases a long call at a price of $3.05. The strike price at expiration is $46. If the current stock price is $46.10, what is the break-even point for the investor?
a. $32.50
b. $35.00
c. $37.50
d. $37.60
Answer: $49.05
Explanation:
The call was purchased at $3.05 and the strike price at expiration is $46. The total expenses at expiration is:
= 46 + 3.05
= $49.05
To make a profit, the stock price will have to be above $49.05 which makes it the breakeven point.
Option not included.
Higher Ed Publishing is conducting market research to determine what customers think about its educational technology products. Which statement is the best example of how this company can use primary data to gauge customer opinions and interest in its products?
Answer:
It can conduct a telephone survey about its products.
Explanation:
Researches regarding the product, customer opinions and interests of the customers are obtained through the primary and secondary data collection. The collection of the such data helps in gathering the information and helping in the advancement of the product.
In the given excerpt, the company is using the primary data and collecting the information from the customers. The primary data here is gathered through the telephonic survey about the product. The opinions and interests of the customer are collected through market research.
The information that follows relates to Khan Corporation:________.
Sales margin: 7.5%
Capital turnover: 2
Invested capital: $20,000,000
On the basis of this information, the company's sales revenue is:______.
A) $40,000,000.
B) $10,000,000.
C) $1,500,000.
D) $3,000,000.
E) None of the answers is correct.
Answer:40,000,000
Explanation:
Sales margin: 7.5%
Capital turnover: 2
Invested capital: $20,000,000
The company sales revenue will be calculated thus:
Capital turnover = Sales / Invested capital
Therefore, 2 = Sales / 20,000,000
Sales = 2 × 20,000,000
Sales = 40,000,000
Therefore,the company sales revenue is 40,000,000