Answer:
see below
Explanation:
Financial accounting is a branch of accounting whose primary function is to gather information and produce reports of an organization's financial activities. Financial Accounting applies either the accrual basis or the cash accounting basis. It involves recording, summarizing, and preparing financial statements of a company's business transactions.
The financial statements communicate business performance and financial positions to stakeholders, including employees, management, business partners, investors, and shareholders.
The financial statements are
The income statementsThe balance sheetThe cash flow statementThe statement of retained earningsWhat term refers to people who are trendy and fashionable in order to impress others and are often impulse buyers?
a. stretchers
b. stunners
c. survivors
d. strivers
Answer: Strivers
Explanation:
The term that refers to people who are trendy and fashionable in order to impress others and are often impulse buyers is Strivers.
It should be noted that Strivers are usually consumers that are from low income families but they so much believe in style and fashion and really wants to impress and emulate celebrities or high income earners who use lastest trends or fashion.
Bramble Corp. incurred the following costs for 58000 units: Variable costs$348000 Fixed costs392000 Bramble has received a special order from a foreign company for 2500 units. There is sufficient capacity to fill the order without jeopardizing regular sales. Filling the order will require spending an additional $3000 for shipping. If Bramble wants to earn $5000 on the order, what should the unit price be
Answer:
Bramble Corp.
If Bramble wants to earn $5000 on the order, the unit price should be:
$9.20.
Explanation:
a) Data and Calculations:
Normal Per Unit Special
Production Cost Order
Production capacity = 58,000 units 2,500 units
Variable costs $348,000 $6.00 $15,000 ($6 * 2,500)
Fixed costs 392,000 $6.76 0
Additional shipping $3,000
Total costs $740,000 $12.76 $18,000
Profit on special order 5,000
Total Sales revenue $23,000
Unit price for special order ($23,000/2,500) $9.20
Using the following variables, calculate an organization's cost of debt on a $500,000 bond.Rt: 1% credit-risk rate: 5% t: 15% a. $30,000 b. $25,500 c. $29,550 d. $4,500
Answer:
b. $25,500
Explanation:
$500,000 bond
Rt: 1%
Credit-risk rate: 5%
t: 15%
Cost of debt = 1% + 5%
Cost of debt = 0.01 + 0.05
Cost of debt = 0.06
After tax cost of debt = Cost of debt *(1 - t)
After tax cost of debt = 0.06*(1 - 0.15)
After tax cost of debt = 0.06*0.85
After tax cost of debt = 0.051
Cost of debt = After tax cost of debt * $500,000
Cost of debt = 0.051*(500,000)
Cost of debt = $25,500
So, the organization's cost of debt on the $500,000 bond is $25,500
The doctrine that allows for a more flexible use of copyrighted material such as for educational purposes is known as _____.
Answer:
where are the options for these questions
Indicate whether each of the following groups would be happy or unhappy if the U.S. dollar appreciated.
a. U.S. pension funds holding U.K. government bonds
b. The Japanese automobile industry
c. Mexican tourists planning a trip to the United States
d. A British firm trying to purchase property in the United States
Answer:
A. If the US dollars appreciated, individuals holding funds in UK currency will receive less amount in dollars as the exchange rate goes in favor of united states. Hence, they will be unhappy.
B. Happy, since the importing of goods from Japan will become cheaper leading to extra demand in market.
C. Unhappy, since the tourists will now need to pay extra money to come to the United states.
D. Unhappy, since the firm now has to pay extra pounds or euros due to dollars appreciation.
Suppose the following transactions occur during the current year:
a. Kenji orders 40 bottles of wine from a French distributor at a price of $30 per bottle.
b. A U.S. company sells 200 spark plugs to a Korean company at $5.00 per spark plug.
c. Hubert, a U.S. citizen, pays $670 for a surfboard he orders from Greatwaves (a U.S. company).
Complete the following table by indicating how the combined effects of these transactions will be reflected in the U.S. national accounts for the current year.
Amount(Dollars)
Consumption
Investment
Government Purchases
Imports
Exports
Net Exports
Gross Domestic Product (GDP)
Answer:
Imports = Bottle of wines
Imports = 40 * $30 = $1,200
Exports = Spark plugs
Exports = 200 * $5 = $1,000
Net Exports = Exports - Imports
Net Exports = $1,000 - $1,200
Net Exports = -$200
Consumption = Surfboard + Wines
Consumption = $670 + $1,200
Consumption = $1,870
Government purchase = $0
Investment = $0
GDP = C + I + G + NX
GDP = $1,870 + $0 + $0 + (-$200)
GDP = $1,870 + $0 + $0 - $200
GDP = $1,670
________ communication is a form of two-way communication, a dialogue.
A) Mass
B) Target
C) External
D) Integrative
E) Interactive
If interest rates rise, Group of answer choices households are willing to borrow more money because their rates of return have increased. foreign entities are willing to borrow more money because their rates of return have increased. firms are willing to borrow less money because their costs of borrowing has increased. firms are willing to borrow more money because their rates of return have increased. it must mean that inflation has decreased because nominal rates have increased.
Answer: firms are willing to borrow less money because their costs of borrowing has increased.
Explanation:
Cost of borrowing refers to the interest rates that a borrower will have to pay on the loan they have borrowed.
If interest rates increase in the economy therefore, the cost of borrowing will increase and companies aim to keep costs as low as possible. This will lead to them borrowing less money so as not to incur the increase interest charges.
The Sons of Knute had a hunting lodge up on Loon Lake which burned down last winter. They plan to rebuild it this summer and are trying to decide how large the new lodge should be. The organization has 50 members. The marginal rate of substitution of each of them between square feet of hunting lodge and money for other goods is 1.2-.0004y where y is the size of the hunting lodge in square feet. What is the ecient size for the new hunting lodge?
Answer:
y = 2,250 sq.ft
Hence, 2,250 sq.ft is the efficient size for the new hunting lodge.
Note: It can vary according to the cost per sq.ft. In this problem, we have assumed it as $15.
Explanation:
Data Given:
Organization members = 50
Equation given = 1.2 - 0.0004y = for the goods and size of the lodge.
where, y is the size of the hunting lodge in sq.ft.
Required = What is the efficient size for the new hunting lodge? = So, we need to find the value of y.
Solution:
First of all, we need to assume the cost for each sq.ft required to build this hunting lodge. As we have not given the cost. If we do not put the value then we will get a general answer in terms of variables. So, it is better to assume some value.
Let's assume the value = $15 per sq.ft
And we have 50 members in the organization so, multiply it with the equation given above.
X = 50 x (1.2 - 0.0004y)
X = 60 - 0.02y
So in order to find y, we need to equate this X to our assumed value of $15.
60 - 0.02y = 15
60 - 15 = 0.02y
45 = 0.02y
y = 2,250 sq.ft
Hence, 2,250 sq.ft is the efficient size for the new hunting lodge.
Note: It can vary according to the cost per sq.ft. In this problem, we have assumed it as $15.
Which of the following statements is a valid critique of rational choice theory?A. People will rarely choose the acceptable option when they can choose an optimal option.B. People do not like to act predictably, even with perfect information.
C. Individual rationality is limited by the ability to conduct analysis.D. All of the above.
Answer:
B. People do not like to act predictably, even with perfect information.
Explanation:
Rational choice theory states that people tend to make logical calculations when they are trying to make choices. This is aimed at making sure that choices made are in line with their objectives.
The expectation is to provide the individual with greatest satisfaction.
Therefore people choose the optimal solution and not just the acceptable one.
The individual's ability to conduct analysis can limit their rationality.
However the statement that people do not act rationally even with perfect information is in conflict with the rational choice theory
In deciding whether to accept a special sales order which of the following costs are likely relevant?
A) Depreciation expense on manufacturing equipment.B) A portion of facilities-level costs.C) A portion of batch-level costs.D) Total batch-level costs.E) An allocated share of fixed manufacturing support costs.
Answer:
C) A portion of batch-level costs.
Explanation:
A special sales order is defined as a single time opportunity for the firm or for the business to sell a specific quantity of a product or a service in the market. It mainly comes from the customers directly and not from the various distribution channels or through other normal sales.
A special sales order is typically unexpected.
A batch level cost is the amount or price which is related to the group of units.
In determining whether to accept the special order sales or to reject the special sales order, a portion of the batch level cost is more relevant to the decision.
One of the most important features of a filing and record keeping system is that it works for you and meets your needs.A. TrueB. False
Answer:
True
Explanation:
One of the most important features of a filing and record keeping system is that it works for you and meets your needs.- True
Answer:
A) True
Explanation:
I just did the test
What is a question that should be asked about accounts receivable when forecasting?A. What is the lead time needed to replenish goods?B. Are we taking on too much debt?C. What percentage of sales will likely be made on credit?D. What do we anticipate owing to our suppliers?
Answer:
C. What percentage of sales will likely be made on credit?
Explanation:
Accounts receivable are defined as the claims of payment that can be legally enforceable which is held by any business for the supply of goods or the services that are rendered that the customers have utilized or ordered but not paid for it. It is the balance of the money which is due to the organization for the goods or the services taken.
So when forecasting about the accounts receivable, one question we need to ask is -- "What percentage of sales will likely be made on credit?"
When the cash is received by the debtor, and the transaction is recorded, the accounts receivable are credited and the cash is debited.
The question that should be asked related to the account receivable at the time of forecasting is option C
C. What percentage of sales will likely be made on credit?
The following information should be considered;
Accounts receivable refer to the the claims of payment that can be legally enforceable which is held by any business for the supply of goods or the services that are rendered that the customers have utilized or ordered but not paid for it. It is the balance of the money which is due to the organization for the goods or the services taken. So when forecasting about the accounts receivable, one question we need to ask is -- "What percentage of sales will likely be made on credit?"
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Sykes company has sales revenue of $585,000. cost of goods sold before adjustment is $335,000. the company's actual manufacturing overhead is $91,000, while allocated manufacturing overhead is $104,400.What is the actual gross profit?
a. $263,200
b. $249,800
c. $157,900
d. $236,400
Answer:
Actual Gross Profit $263,400
Explanation:
The computation of the actual gross profit is as follows:
Allocated manufacturing overheads $104,400
Actual manufacturing overheads $91,000
Over applied manufacturing overheads $13,400
Unadjusted cost of goods sold $335,000
Less: Over applied manufacturing overheads $13,400
Adjusted cost of goods sold $321,600
Sales Revenue $585,000
Less: Adjusted cost of goods sold $321,600
Actual Gross Profit $263,400
This is the answer but the same is not provided in the given options
If partner owned computers or IRS loaned computers or printers are lost or stolen, the partner is required to notify the IRS _____. Partners should provide all information that is readily available to the local SPEC Territory Office.
Answer:
If partner owned computers or IRS loaned computers or printers are lost or stolen, the partner is required to notify the IRS _immediately____. Partners should provide all information that is readily available to the local SPEC Territory Office.
Explanation:
All incidents of stolen and lost equipment must be reported to the IRS immediately, at least a day after the incident is reported. As part of the condition for the IRS-loaned equipment, partners are expected to report incidents of stolen and lost equipment not later than the next business day after the confirmation of the incident. If the lost or stolen equipment contained taxpayer PII data, the partner must report the loss of PII data based on the data breach guidance. This is why it is necessary to safely keep some information pertaining to the equipment, including the serial number, make, barcode, etc.
Of the following items, which one is not obtained from an individual operating budget? Selling and administrative expenses Sales Accounts receivable Cost of goods sold
Answer:
Accounts receivable
Explanation:
An individual operating budget is a budget that contains the expectations of a business on its daily operational activities.
The individual operating budget contains expectations of its :
salesmanufacturing costsselling expensesgeneral and administrative expensesThe reserve requirement is 20% and Leroy deposits his $1,000 check he received as a graduation gift in his checking account. The bank does NOT want to hold excess reserves. Which of the following is an accurate description of the bank's balance sheet immediately after the deposit?A. Reserves increase by $1000, and demand deposits increase by $1000.B. Reserves increase by $1000, and demand deposits decrease by $1000.C. Reserves decrease by $1000, and demand deposits decrease by $1000.D. Reserves decrease by $200, and demand deposits increase by $1000.
Answer:
A. Reserves increase by $1000, and demand deposits increase by $1000
Explanation:
Based on the information given the right description of the bank's balance sheet after the deposit is that the bank RESERVE will increase with the amount of $1,000 while the DEMAND DEPOSIT which is the deposit amount the customer can collect on demand on the other hand will as well increase with the amount of $1,000 reason been that the bank need RESERVE requirements because they need to have cash flow in their reserve in order to meet up with any liabilities that may arise due to customers withdrawal of fund.
Moneka reported $55,000 of income for the year by using absorption costing. The company had no beginning inventory, planned and actual production of 20,000 units, and sales of 18,000 units. Total variable manufacturing costs were $200,000, and total fixed manufacturing overhead was $50,000. If there were no variances, income under variable costing would be:_______
a. $45,000.
b. $55,000.
c. $65,000.
d. $105,000.
e. $5,000.
Answer:
Net income under variable costing= $50,000
Explanation:
The absorption costing method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.
We need to deduct to the net income of the absorption costing method, the fixed manufacturing overhead allocated into ending inventory.
Unitary fixed overhead= 50,000 / 20,000
Unitary fixed overhead= $2.5
Net income under variable costing= 55,000 - (2,000*2.5)
Net income under variable costing= $50,000
The importance of cash flows in the absolute valuation process is most similar to which of the following? a) A student deciding to attend law school, because she forgoes a full- time job today in hopes of a well-paying job in the future b) A government giving a tax break to wind farms, because it values future energy independence more than the cost of the subsidy to encourage alternative energy development c) A fishery exceeding fishing quotas, because it values short-term income more than long-term fishing stock d) A fitness instructor avoiding soda and candy, because he gives up foods he enjoys in order to live a healthier, longer life
Answer: c) A fishery exceeding fishing quotas, because it values short-term income more than long-term fishing stock
Explanation:
Absolute valuation is a valuation method used by businesses whereby the financial worth of a company is determined through the use of a discounted cash flow. Through this, the investors can know whether a stock is either overvalued or undervalued.
Based on the question, thee importance of cash flows in the absolute valuation process is most similar to a fishery exceeding fishing quotas, because it values short-term income more than long-term fishing stock.
Joel owns the following portfolio of securities. What is the beta for the portfolio?Company Beta Percent of PortfolioExxon-Mobil .95 40%Pacific Industries 1.20 35%Payson Restaurants 1.35 25%A) 1.0000B) 0.9500C) 1.1375D) 1.1705
Answer:
the beta of the portfolio is 1.1375
Explanation:
The computation of the beta of the portfolio is as follows:
= Company beta × portfolio percentage
= 0.95 × 0.40 + 1.20 × 0.35 + 1.35 × 0.25
= 0.38 + 0.42 + 0.3375
= 1.1375
Hence the beta of the portfolio is 1.1375
We simply applied the above formula so that the correct beta could come
What concerns do you have about managing distractions and obtaining the support you need to be successful
Answer:
The concerns about either the situations are defined following table.
Explanation:
Managing Distractions:
To evaluate the performance including its moment you start researching, working to recognize, and even get ahold of distractions. The effect would be an increased ability to concentrate mostly on tasks at hand, which ensures that you would rather concentrate and spend your attention increasingly constructively.External Study Environment:
During which your research paper could have a lot as far as how efficiently you analyze.Distractions:
Residence does seem to be famous because of its interruptions. Then again the parts of the country of the survey have been utilized for those certain operations.Isabella purchased $20,000 worth of 26-week T-Bills for $19,775. What will be the rate of return on her investment?
Answer: 2.28%
Explanation:
When they mature they will pay her $20,000 yet she bought them for $19,775.
The rate of return is a simple interest rate;
A = P * ( 1 + rt)
t = 26/52weeks = 0.5
20,000 = 19,775 ( 1 + 0.5r)
1 + 0.5r = 20,000/19,775
0.5r = 1.011378 - 1
r = 0.011378/0.5
r = 0.022756
= 2.28%
Whiteville Co. can further process Product B to produce Product C. Product B is currently selling for $45 per pound and costs $30 per pound to produce. Product C would sell for $80 per pound and would require an additional cost of $18 per pound to produce. What is the differential cost of producing Product C
Answer:
In this case, the differential cost os $18.
Explanation:
The differential cost is the increase in unitary or total production value in two or more steps of the decision-making process. In this case, the unitary cost of product B is not a differential cost. It would remain constant in both products, but, the additional $18 is a cost incurred only in product C.
In this case, the differential cost os $18.
You happen to be checking the newspaper and notice an arbitrage opportunity. The current stock price of Intrawest is $20 per share and the one-year risk-free interest rate is 8%. A one- year put on Intrawest with a strike price of $18 sells for $3.33, while the identical call sells for $7. Explain what you must do to exploit this arbitrage opportunity.
Answer:
Using put call parity:
C + X/(1+r)^n = S+P
C + 18/(1+0.08)^1 = 20+3.33
C + 18/1.08 = 20 + 3.33
C + 18/1.08 = 23.33
C + 16.67 = 23.33
C = 23.33 - 16.6667
C = 6.67
The call price ($7) is over price, so we should sell call and buy underlying ($6.67). After one year, the underlying option will get a gain of $0.33 ($7-$6.67). So, we should exploit this arbitrage opportunity.
Which of the following account groups are temporary accounts?
a. Common Stock, Dividends, Retained Earnings
b. Cash, Dividends, Wages Payable
c. Prepaid Insurance, Equipment, Fees Earned
d. Rent Revenue, Fees Earned, Miscellaneous Expense
Answer: d. Rent Revenue, Fees Earned, Miscellaneous Expense
Explanation:
Temporary accounts are also referred to as nominal accounts and they are the accounts that are closed when the year ends and began afresh the following accounting period and they basically relates to fees, expenses and gains.
From the options above, the answer will be option D "Rent Revenue, Fees Earned, Miscellaneous Expense"
Answer:
Which of the following accounts is not affected by closing entries?
Select one:
A. Retained Earnings
B. Common Stock
C. Cash Dividends
D. Service Fees Earned
Explanation:
TrinkCan is a soda manufacturing company. People can buy the company's soda from grocery stores, restaurants, vending machines, and online. In this scenario, TrinkCan has adopted
Answer: A) multichannel retailing
Explanation:
Multichannel retailing refers to when a company distributes their goods and services through various channels as opposed to a single one so that their goods can gain maximum exposure. .
These companies use brick and mortar channels such as grocery stores and the internet which is becoming ever so popular. Some companies are able to use varied channels due to the nature of their goods such as vending machines and restaurants for soda companies.
If the government decreases tax rates for all Americans, we would expect to see:
A. an increase in the demand for money.
B. a decrease in the demand for money.
C. an increase in the quantity of money demanded.
D. a decrease in the quantity demanded of money.
E. no change in the demand for money.
Answer: it would be D. The reaason is because they would be asking for less money which is stated in that question!
Explanation:
Finn is interested in taking over a small business, but he wants to pay a fair price for it, so he consults their income statements. How can he determine the company's overall profitability in each quarter of the previous year?
a. Calculate total revenue minus taxes paid.
b. Calculate operating revenue minus operating expenses.
c. Calculate total revenue minus operating expenses.
d. Calculate total revenue minus total expenses
Answer:
d. Calculate total revenue minus total expenses
Explanation:
Profit is Calculated as Total revenue minus Total expenses. Therefore, consider all Incomes generated by the Business whether Primary or Secondary. Also consider all Expenses incurred by the business including Non - Operating expenses.
What is an important quality that promotion and marketing managers need to have?
They like to work alone.
Customers are always looking for new products and services to improve their way of life.
Customers will work more closely with advertising, promotional and marketing managers in the future.
They need to be able to communicate well.
Answer:
well they need to have good marketing to get poeples attention and making them want to invest in such thing
Which of the following statement is not true about derivative contracts?
a. A long position is a bet that the number is going to fall while a short position is a bet that the number will rise in the future.
b. Derivative contract can be seen as a bet on which way the price of its underlying asset may move in the future.
c. Companies often use derivative contracts to transfer risk to another party.
d. Derivatives are often used for hedging, which aims at protecting a current financial position from potential losses.
Answer:
a. A long position is a bet that the number is going to fall while a short position is a bet that the number will rise in the future.
Explanation:
The derivative contract is a contract in which the contract is to be done between two or more parties regarding the value i.e. depend upon the financial asset i.e. underlying. It involves the bonds, commodities, etc
So according to the given options, the option a is correct as long position is a bet in which the number is to be decline while on the other hand in the short position the number would increase