(a.) Marginal revenue equals zero when total revenue stops increasing as output expands and starts to decrease. From the table, total revenue reaches a maximum of $378.00 at 210 gallons. The price per gallon at that output is $1.80. Hubert's and Kate's profits are both $189 (i.e., $378/2).
(b.) After Hubert expands his output by 35, total output becomes 245 (i.e., 210+35). From the table, the price per gallon then falls to $1.50 per gallon. Total profit falls to $367.50. Assuming Kate must still be given her previous level of profits, she continues to get $189, leaving only $178.50 for Hubert. Of course, if they share the reduced profits equally, each will get $183.75.
(c.) If Kate follows Hubert and expands her output by 35 gallons, total output will now be 280. From the table, price will fall to $1.20 per gallon and total profit will be $336. Sharing profits equally now gives each $168.
In accounting, sales is the overall quantity of income generated by way of the sale of products and offerings related to the primary operations of the commercial enterprise. Industrial sales will also be known as income or as turnover. a few organizations receive revenue from interest, royalties, or different prices. "Sales" may additionally seek advice from profits in preferred, or it could check with the quantity, in a monetary unit.
Earnings or internet income commonly imply overall sales minus total expenses in a given length. In accounting, within the stability statement, revenue is a subsection of the fairness segment and revenue will increase equity, it's miles frequently referred to as the "top line" due to its position on the income declaration on the very pinnacle. This is to be contrasted with the "backside line" which denotes internet earnings (gross revenues minus overall costs).
In general usage, sales is the full amount of profits with the aid of the sale of products or offerings related to the enterprise's operations. income sales is profits acquired from selling goods or offerings over a time frame. Tax sales is profits that a central authority gets from taxpayers. Fundraising sales is profits received by way of a charity from donors and so forth. to in addition its social functions.
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which of the following suggestions would an experienced business owner offer to help someone who is thinking about starting a business venture?
Work with a thriving businessman to gain experience.
What distinguishes an entrepreneur from a businessperson?The pursuit of profit is just a businessperson's primary goal, and the greater the profit, the greater. Entrepreneur, on the other hand, typically concentrate on their passion and business growth. such that obtaining personal satisfaction from successfully designed products and services is the primary objective.
Can anyone succeed in business?Yes, anyone may start their own business, but not everyone will achieve the very same level of accomplishment. It takes a significant amount of experience, grit, and occasionally education to be an entrepreneur. Nevertheless, there really are entrepreneurs from each and every demography and there aren't any requirements to becoming one.
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TRUE OR FALSE the balanced scorecard perspective that assesses whether or not the organization encourages employees to make suggestions and question the status quo is known as the perspective.
It's true that the perspective is known as the state of affairs.
Why is having a perspective in life important?Perspective allows us to consider multiple viewpoints and other people's opinions, experiences, and points of view. This increases our ability for understanding and empathy. Prejudice, condemnation, and conflict are reduced.
What, for instance, does perspective mean?A method of considering and comprehending anything (such as a specific problem or life in general) [count] He gave us fresh eyes to view the issue from. [=angle, viewpoint] In the 1940s, the narrative is recounted from the viewpoint of a little kid.
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Market screening is a method of market analysis and assessment that permits management to identify a small number of desirable markets by eliminating those judged to be less attractive.
a. True
b. False
The common stock of Dayton Repair sells for $43.19 a share. The stock is expected to pay $2.20 per share next year when the annual dividend is distributed. The firm has established a pattern of increasing its dividends by 2.25 percent annually and expects to continue doing so. What is the market rate of return on this stock
Answer: 7.35%
Explanation:
Based on the information given, the market rate of return on this stock will be calculated as:
= (D1/P0) +G
where,
D1= Dividend at year 1 = 2.20
P = price at present =43.19
G = dividend growth rate =2.25%
We then slot the figures into the formula and we will get:
= (D1/P0) +G
= (2.20 / 43.19) + 2.25%
= 0.051 + 2.25%
= 5.1% + 2.25%
= 7.35%
Therefore, the market rate of return will be 7.35%.
Identify the factors that cause the bank statement balance to differ from the depositor's book balance by matching each it its definition on the right.
1. Outstanding check
2. Deposit in transit
3. NSF check
4. Bank charges
A check that has been written but has not yet been cashed, deposited, or cleared by the bank is considered an outstanding check. A personal or business check can be outstanding.
Why a company's balance deposits in transit will differ from a bank's balance. Costs associated with check printing and bank service. Errors in the books of the company.
Charges and deposits made electronically that are shown on the bank statement but have not yet been recorded in the company's books.
What distinguishes the book balance from the bank statement?The cash balance that is recorded in a bank's records is shown on the bank statement balance. Some financial transactions that are not included in the bank balance are recorded in the book balance. The balance on a bank statement reveals transactions that are not included in the book balance of the business.
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which of the following examples are outcomes of a well-planned digital marketing strategy? select three.
This calls for improving interactive technology, online services, and digital audience engagements in order to improve customer service.
What results from using digital marketing?Students should have the chance to study the importance of content, its uses, and how to create a variety of content campaigns in a digital marketing course. The choice-making of the audience is significantly influenced by content creation.
What is a good example of a digital marketing strategy?An online presence can be built utilizing technologies like social media, paid search, organic search, and other web-based platforms like your website. The target market, the best way to reach them, the price point at which the good or service should be sold, and the method by which the business will evaluate its performance will all be determined by the marketing strategy.
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A manufacturer has an estimated practical capacity of 90,000 machine hours, and each unit requires two machine hours. The following data apply to a recent accounting period: Actual variable overhead$ 240,000 Actual fixed overhead$ 442,000 Actual machine hours worked 88,000 Actual finished units produced 42,000 Budgeted variable overhead at 90,000 machine hours$ 200,000 Budgeted fixed overhead$ 450,000 Of the following factors, the manufacturer's production volume variance is most likely to have been caused by: A. A wage hike granted to a production supervisor. B. A newly imposed initiative to reduce finished goods inventory levels. C. Acceptance of an unexpected sales order. D. Temporary employment of workers with lower skill levels than originally anticipated.
Answer:
Of the following factors, the manufacturer's production volume variance is most likely to have been caused by:
D. Temporary employment of workers with lower skill levels than originally anticipated.
Explanation:
a) Data and Calculations:
Estimated practical capacity = 90,000 machine hours
Machine hours per unit = 2
Estimated production units based on capacity = 45,000 (90,000/2)
Budgeted Actual
Variable overhead = $200,000 $240,000
Actual fixed overhead = $450,000 $442,000
Machine hours 90,000 88,000
Units produced 45,000 42,000
Estimated units to be produced based on standard machine hour
= 44,000 units (88,000/2)
Variance between standard units to be produced and actual = 2,000 (44,000 - 42,000) Unfavorable
In 1933, U.S. manufacturers, which used to enjoy steady relationships with their foreign distributors and export nearly 30% of their output, realized that their exports had fallen to only 10% of total output. Which of the following is the most likely reason for this decrease in exports?
a. The low quality of U.S. products
b. Retaliatory tariffs by trading partners
c. War between the United States and Mexico
Answer: b. Retaliatory tariffs by trading partners
Explanation:
In the 20s, the United States instituted a series of tariffs on imports that culminated with the Smoot-Hawley tariff of 1930 as they hoped to protect the local industry and to increase government revenue.
Some countries replied with their own tariffs on American exports such that American exports to these countries fell significantly and world trade reached a new low as well.
In the current year, a company paid interest of $40,000, had net capital expenditures of $300,000, and issued net new debt of $75,000. In addition, the company reported cash flow from operating activities of $600,000, cash flow from investing activities of ($250,000), and cash flow from financing activities of $65,000. The marginal tax rate is 35%. Compute the free cash flow to the firm. In the current year, a company paid interest of $40,000, had net capital expenditures of $300,000, and issued net new debt of $75,000. In addition, the company reported cash flow from operating activities of $600,000, cash flow from investing activities of ($250,000), and cash flow from financing activities of $65,000. The marginal tax rate is 35%. Compute the free cash flow to the firm.
Answer:
Free cash flow to the firm = $326,000
Explanation:
The free cash flow to the firm can be computed using the following formula:
Free cash flow to the firm = Cash flow from operating activities + (Interest paid * (100% - Tax rate)) - Net capital expenditures ............... (1)
Where:
Cash flow from operating activities = $600,000
Interest paid = $40,000
Tax rate = 35%
Net capital expenditures = $300,000
Substituting the values into equation (1), we have:
Free cash flow to the firm = $600,000 + ($40,000 * (100% - 35%)) - $300,000 = $326,000
FILL IN THE BLANK The ______ approach gives upper management a quick but thorough view of the organization via four indicators: customer satisfaction, internal processes, innovation and improvement activities, and financial measures.
Thru four factors: client satisfaction, processes, innovation and enhancement activities, a balanced scorecard approach offers upper management with a fast but thorough look at the company.
What exactly does the term "customer" mean?
Customer identification: A client is an individual or company who purchases services or products from that other company. Customers are important because they generate income. Businesses would fail if they did not exist.
What is the significance of customer service?
Customer service is essential because it fosters customer loyalty while also making employees' jobs easier. This, in turn, aids business growth. Organizations can recoup acquisition costs, retain the talented, and foster brand loyalty by providing excellent customer service.
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On December 28, 2024, Tristar Communications sold 10 units of its new satellite uplink system to various customers for $25,000 each. The terms of each sale were 1/10, n/30. Tristar uses the gross method to account for sales discounts.
In what year will income before tax be affected by discounts, assuming that all customers paid the net-of-discount amount on January 6, 2025? By how much?
In , income before tax will be by
Earnings before tax (EBT)-It is the quantity of cash left after all charges are subtracted from revenues. Because companies pay tax at distinctive charges depending on the place they are located, EBT is a more true reflection of profitability than profits after tax (EAT).
Is EBIT identical as profit earlier than tax?Profit before taxes and revenue earlier than activity and tax (EBIT), are both fantastic measures of a company's profitability. However, they grant barely one-of-a-kind views on monetary results. The most important difference is that whilst PBT money owed for pastime in its calculation, EBIT doesn't.
Is profits before taxes or after?Gross annual earnings is your income earlier than tax, whilst internet annual profits is the amount you are left with after deductions. This topic is important if you're a wage earner or a commercial enterprise owner, in particular when it comes to filing your taxes and applying for loans.
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https://brainly.com/question/13793671#SPJ4The figures above show plots of monthly excess returns for two stocks plotted against excess return for a market Index. Use the figures to answer the next question Which stock is riskier for an investor currently holding just one stock in their portfolio? O Stock A is riskier. O Both stocks are equally risky O Stock Bis riskier. O Cannot be determined from the information given.
As per the given portfolio, the most risker stock is stock A.
Here we have given that show plots of monthly excess returns for two stocks plotted against excess return for a market Index.
And we need to find in which stock is riskier for an investor currently holding just one stock in their portfolio
While we looking into the given question we have identified that the risk of the diversified portfolio consists primarily of systematic risk.
Now, we have to looking into the Beta measures systematic risk which one is the slope of the security characteristic line.
Therefore, based on the beta score, we have concluded in that the two figures depict the stocks' SCLs, here Stock B's SCL is steeper, where as the stock has the overall broad steep.
Therefore, option (a) is correct.
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Heidi hired Michael as an agent to sell her house. Michael received an offer from a potential third-party buyer, but he decided not to tell Heidi because he was afraid the ridiculously low offer would insult her. Michael has breached which, if any, of the following duties?
Multiple Choice
O The duty of loyalty
O The duty to indemnify
O The duty of obedience
O The duty of notification
O Michael has not breached any duty owed Heidi; instead, as Heidiâs agent, Michael had the discretion to determine whether the offer was sufficient to justify informing her of the offer
Michael received an offer from a potential third-party buyer, but he decided not to tell Heidi because he was afraid the ridiculously low offer would insult her. Michael has breached the duty of notification.
A written provide from a dealer to a ability sponsor is called a offer. When a consumer takes into consideration elements apart from fee whilst creating a purchase, enterprise proposals are regularly an vital section withinside the complicated income process.
A idea is whilst one character shows to every other that they may be inclined to behave or chorus from appearing for you to get the alternative character's popularity of the proposed act or refraining from appearing. A idea informs the patron approximately the dealer's capacity to satisfy their needs at the same time as additionally putting the consumer's necessities in a context that advantages the dealer's items and services.
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When using earned value techniques, Actual Cost (AC) refers to the total of costs incurred in accomplishing work on the activity during a given period.
True or false?
When using earned value techniques, Actual Cost (AC) refers to the total of costs incurred in accomplishing work on the activity during a given period is true.
What does the term "total real cost" mean?The total amount needed to acquire an asset is its actual cost, which may take into account a variety of elements. the cost that was charged by your provider. the expense of delivering the asset. the price of establishing the asset. the price of evaluating the asset.
Which value actually means?Subtracting any depreciation, the replacement value is the same as the actual cash worth. There are rules for declaring the worth of the products while importing them. Customs duty and other taxes are determined using this number as a starting point. The worth of an imported good can be determined using a variety of techniques.
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Select the statement that is most accurate with regard to materiality.
a Materiality does not create discretionary choices for managers, executives and auditors.
b Earnings management is not sufficiently material to constitute fraud.
c Materiality is based on a percentage of net sales.
d Materiality includes both quantitative and qualitative factors.
The primary purpose for setting overall materiality when planning the audit is that it is used to identify performance materiality relative.
Unfortunately, under U.S. Generally Accepted Accounting Principles, materiality is not defined in any particular way (GAAP). But according to the International Financial Reporting Standards' (IFRS) Conceptual Framework for Financial Reporting: Information is considered substantial if leaving it out or reporting it incorrectly could affect the choices users make when using financial data regarding a particular reporting entity. In other words, the nature, size, or both of the things to which the information refers in the context of an individual entity's financial report determine materiality for that entity. There are numerous ways to define materiality. However, the general rule is that a financial misrepresentation is serious if it has the potential to affect the choices made by users of financial statements.
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Taxable income and pretax financial income would be identical for Skysong Co. except for its treatments of gross profit on installment sales and estimated costs of warranties. The following income computations have been prepared.
Taxable income 2019 2020 2021
Excess of revenues over
expenses (excluding two
temporary differences) $154,000 $191,000 $88,100
Installment gross profit
collected 8,500 8,500 8,500
Expenditures for warranties (4,500) (4,500) (4,500)
Taxable income $158,000 $195,000 $92,100
Pretax financial income 2019 2020 2021
Excess of revenues over
expenses (excluding two
temporary differences) $154,000 $191,000 $88,100
Installment gross profit
recognized 25,500 -0- -0-
Estimated cost of
warranties (13,500) -0- -0-
Income before taxes $166,000 $191,000 $88,100
The tax rates in effect are 2019, 40%; 2020 and 2021, 45%. All tax rates were enacted into law on January 1, 2019. No deferred income taxes existed at the beginning of 2019. Taxable income is expected in all future years. Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2016, 2017, and 2018.
Answer:
See the journal entry below.
Explanation:
Before preparing the journal entry, the following are calculated first:
Income tax expense in 2019 = (Taxable income in 2019 * Tax rate in 2019) + (Taxable income in 2020 * Tax rate in 2020) + (Taxable income in 2021 * Tax rate in 2021) = ($158,000 * 40%) + ($195,000 * 45%) + ($92,100 * 45%) = $193,395
Deferred tax liability in 2019 = (Taxable income in 2020 * Tax rate in 2020) + (Taxable income in 2021 * Tax rate in 2021) = ($195,000 * 45%) + ($92,100 * 45%) = $129,195
Income tax payable in 2019 = Taxable income in 2019 * Tax rate in 2019 = $158,000 * 40% = $63,200
Income tax payable in 2020 = Taxable income in 2020 * Tax rate in 2020 = $195,000 * 45% = $87,750
Income tax payable in 2021 = Taxable income in 2021 * Tax rate in 2021 = $92,100 * 45% = $41,445
The journal entry will look as follows:
Date General journal Debit ($) Credit ($)
31 Dec 2019 Income tax expense 193,395
Deferred tax liability 129,195
Income tax payable 63,200
(To record income tax payable.)
31 Dec 2020 Deferred tax liability 87,750
Income tax payable 87,750
(To record income tax payable.)
31 Dec 2021 Deferred tax liability 41,445
Income tax payable 41,445
(To record income tax payable.)
The Market Place recently announced that it will pay its first annual dividend two years from today. The first dividend will be $0.50 a share with that amount doubling each year for the following two years. After that, the dividend is expected to increase by 4 percent annually. What is the value of this stock today if the required return is 15 percent?
Answer:
$12.99
Explanation:
Calculation to determine the value of this stock today if the required return is 15 percent
First step is to calculate P4
P4= ($0.50 *2^2*1.04)/(0.15 - 0.04)
P4= $18.91
Now let calculate the value of this stock today (P0)
P0= [$0.50/1.15^2] + [$1/1.15^3] + [($2 + $18.91)/1.15^4]
P0= $12.99
Therefore the value of this stock today if the required return is 15 percent will be $12.99
Acreddited investor i am a knowledgeable executive an individual who is an executive officer, director, trustee, general partner, or person serving in a similar capacity, or the advisor.
An accredited investor is a person or a company that is authorised to trade securities even if they are not officially registered with the financial authorities.
Securities that have not been registered with regulatory bodies like the SEC may be legally purchased by accredited investors. Many businesses decide to directly market securities to this group of accredited investors. Companies can save a lot of money thanks to this decision's exemption from having to register securities with the SEC.
A private placement is the term used to describe this kind of share offering. These accredited investors could be exposed to a lot of risk as a result. Authorities must therefore make sure that they are experienced, financially secure, and knowledgeable about their risky endeavours.
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Metaline Corp. uses the weighted average method for inventory costs and had the following information available for the year. The number of units transferred to finished goods during the year is: Beginning Work in Process (40% complete, $1,100)200 units Ending inventory of Work in Process (80% complete)400 units Total units started during the year3,200 units Multiple Choice 3,200 units. 3,000 units. 3,400 units. 3,160 units.
Answer:
Results are below.
Explanation:
The weighted average method blends the costs and units of the previous period with the costs and units of the current period.
Units completed in the period + Equivalent units in ending inventory WIP (units*%completion) = Equivalent units of production
Units completed= (3,200 + 200) - 400= 3,000
Equivalent units of production= 3,000 + 400*0.8
Equivalent units of production= 3,320 units
A large wine maker would like to buy new stainless steel containers for aging its wine. It is planning to purchase a number of containers for a total of $450,000. They have 9 years of usable life and lose the same value each year. The wine maker will then sell them in 3 years for an estimated $200,000 to replace with brand new ones at that time. The wine maker falls into a 40% tax rate bracket. Calculate the after-tax salvage value at the time the containers will get sold.
Answer:
After-tax salvage value = $240,000
Explanation:
This can be calculated as follows:
Tax rate = 40%
Purchase price = $450,000
Annual depreciation expense = Purchase price / Number of usable life = $450,000 / 9 = $50,000
Accumulated depreciation after year 3 = Annual depreciation expense * 3 = $50,000 * 3 = $150,000
Remaining book value in 3 years = Purchase price - Accumulated depreciation after year 3 = $450,000 - $150,000 = $300,000
Salvage value in 3 years = Estimated sales price in 3 years = $200,000
Since the Net book value in 3 years of $300,000 is greater than the Salvage value in 3 years of $200,000, that means there is a tax saving. Therefore, the the after-tax salvage value at the time the containers will get sold can be calculated using the following formula:
After-tax salvage value = Salvage value + (Tax rate * (Remaining book value - Salvage value)) = $200,000 + (40% * ($300,000 - $200,000)) = $240,000
how would increased benefits paid by employers affect worker's wages?
Answer:
it would lower the wages
Explanation:
We have implicitly assumed that Dallas Airline starts paying the salary of $15,000 per month only at the end of the two-month school. Such a practice drew significant complaints from the trainees. Dallas Airline decided to change its practice and pay the trainees during the training session as well. How would the new policy change Dallas Airline's class size
Answer:
The new policy will attract more trainees to the Dallas Airline school, thus increasing the class size to the maximum capacity.
Explanation:
The size of the class will increase dramatically. The Dallas Airline School may not have enough space to accommodate the training applicants. The payment of the salary during training is a motivating factor to trainees. It eliminates the significant complaints from the trainees. It levels the training ground for the Dallas Airline School to become consistent in practice with other airlines schools.
Which of the following is not a condition requiring the use of the finance lease reporting method? O The lease automatically transfers ownership of the leased asset from the lessor to the lessee at the termination of the lease O The lease term is at least 75% of the economic useful life of the leased asset O The lease allows the lessee to use the leased asset during the lease term O The lease provides that the lessee can purchase the leased asset for a nominal amount (bargain purchase price) at the termination of the lease
The finance lease permits the tenant to use the chartered quality throughout the lease term. The transfer of the actual asset's possession at the lease term (LT) ends. The tenant should purchase the quality below the honest price from the proprietor.
The LT is typically for a serious or good portion of the involved asset's helpful life. Situations that may usually result in a lease being classified as a finance lease embrace the following: the lease transfers possession of the quality to the tenant by the top of the lease term.
A finance lease during which all risks and rewards area unit transferred to the owner of assets. The title might or might not eventually be transferred. 2. Lease term that tenant has choice to buy the assets type proprietor at value which is under honest price on the date once option become exercisable. To be classified as a finance lease, a minimum of one in every of the subsequent criteria should be true: A transfer of possession of associate quality to the tenant at the top of the term of the initial lease.
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a graph titled changes in the u s consumer price index from 2006 to 2016 has year on the x-axis and average percent change on the y-axis, from negative 1 to positive 4. in 2008 the percent change was 4 percent, in 2009 negative 0.3 percent, in 2010 1.8 percent, in 2011 3.1 percent, in 2012, 2.1 percent, in 2013 1.5 percent, in 2014 1.6 percent, in 2015 0 percent, and in 2016 1.3 percent. use the drop-down menus to complete the statements. inflation is a measure of how prices increase . disinflation occurred . the inflation rate was about in 2014. overall, prices declined .
The rate at which prices rise is measured by inflation. In 2009, when the percent change was -0.3%, disinflation took place.
Inflation in 2014 hovered at 1.6%. Since the average percent change was positive, prices did not generally decrease during this time. S rise in the general price level reduces the purchasing power of money by lowering the amount of products and services that each unit of currency can buy. This is why growing prices often cause inflation. High inflation may be undesirable, but low inflation may be equally damaging to the economy.
When the economy is struggling and inflation is too low, the Fed will switch to the opposing approach by lowering interest rates or buying assets to increase cash flow. Cost-push inflation results from a decrease in total supply of goods and services caused by rising manufacturing costs. Demand-driven inflation could be made worse by rising labour or raw material costs.
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Answer: increase, between 2008-2009, 1.5%, in 2009 only
Explanation: Just confirmed on edge
Consumer surplus results when companies charge a lower price for products than the value placed on them by customers. This occurs because
Costs of production are reduced as a result of the creation of value. Economies of extension depict circumstances were delivering at least two products together outcomes in a lower negligible expense than creating them independently.
Which term refers to increased product production as a result of consumer cost savings?A company's (and, by default, its customers') ability to save money through efficient production processes is known as an economy of scale. The average cost of producing something decreases as production volume increases, resulting in these cost savings.
What is preventing the company's global expansion from increasing profitability and profit growth?The necessity of localization limits a company's ability to grow profits and profitability by expanding globally. By customizing products to meet the tastes and preferences of people from different cultures, the company can increase profitability through the localization strategy.
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a whole life insurance policyowner does not wish to continue making premium payments. which of the following enables the policyowner to sell the policy for more than its cash value?
A life settlement agreement enables the policyholder to sell their insurance policy for a higher price than the policy's cash value.
J decides to pay his Whole Life insurance premiums in a monthly installment plan. Which of these assertions is true? When opposed to paying annually, the total premium is greater when paid monthly. A whole life insurance's "termination for lower paid-up policy of the same kind" clause permits the policyholder to do just that (n) On Mary's life insurance application, a mistake was made. Which of the following sectors does the incontestable clause NOT apply to, where mistakes on applications are frequently made? Beneficiary Contingent of the Insured J opts for a recurring monthly premium payment option on his Whole.
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which of the following is the characteristic of a perfectly competitive industry that allows for long-run adjustment to restore efficiency when there is a change in costs or demand?
(b) the easy entry or exit allows the number of firms to change in response to changes in supply or demand is the characteristic of a perfectly competitive industry that allows for long- run adjustment.
A hypothetical market system is referred to as perfect competition. Perfect competition offers a valuable model for illustrating how supply and demand influence pricing and behavior in a market economy, despite perfect competition seldom occurring in actual markets.
There are numerous buyers and sellers in a market with perfect competition, and prices always reflect supply and demand. Companies only make as much money as is necessary to stay in operation.
Other businesses would enter the market and reduce revenues if they were to make excessive profits. One standard or ideal kind to which actual market structures can be contrasted is perfect competition.
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Correct question:
Which of the following is the characteristic of a perfectly competitive industry that allows for long- run adjustment to restore efficiency when there is a change in costs or demand?
(a) the standardized good which allows for consumers to substitute one firm's goods or services
for another.
(b) the easy entry or exit allows the number of firms to change in response to changes in supply or demand.
(c) the large number of firms allows them to grow or shrink in size. (d) the interdependence of firms allows them to meet together to respond to changes.
The _____ the distance between the time of the event and the time the client knows about the events, the greater _____. greater; the probability of achieving the project goals greater; the likelihood of satisfying the client lesser; the client's doubt in the project team's ability to do the task lesser; the frustration of the client greater; the client's frustration and mistrust
Answer:
greater; the client's frustration and mistrust.
Explanation:
Project management can be defined as the process of designing, planning, developing, leading and execution of a project plan or activities using a set of skills, tools, knowledge, techniques and experience to achieve the set goals and objectives of creating a unique product or service.
The fundamentals of Project Management includes;
1. Project initiation
2. Project planning
3. Project execution
4. Monitoring and controlling of the project
5. Adapting and closure of project.
It is very important and essential that project managers in various organizations, businesses and professions adopt the aforementioned fundamentals in order to successfully achieve their aim, objectives and goals set for a project.
Generally, projects are considered to be temporary because they usually have a start-time and an end-time to complete, execute or implement the project plan.
The greater the distance between the time of the event and the time the client knows about the events, the greater the client's frustration and mistrust. Thus, project managers are advised to reduce a client's frustration and enhance trust by reducing the distance between the time of the event and the time the client knows about the events i.e timely dissemination of informations to the client.
Fraud Investigators Inc. operates a fraud detection service. On March 31, 10 customers were billed for detection services totaling $21,000. On October 31, a customer balance of $1,300 from a prior year was determined to be uncollectible and was written off. On December 15, a customer paid an old balance of $760, which had been written off in a prior year. On December 31, $460 of bad debts were estimated and recorded for the year.
Required:
1. Prepare journal entries for each transaction above. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
a) Record the service revenue of $34,000 billed on account.
Transaction General Journal Debit Credit
a
B) Record the write-off of a certain customer account from a prior year which is not collectible totaling $1,950..
Transaction General Debit Credit
C1.Record the reversal of the write-off of a $810 customer account.
C2. Record the receiptof cash of $810 from the customer.
D. Record the estimate bad debts of $590 for the year.
2. Complete the following table, indicating the amount and effect (+ for increase, − for decrease, and NE for no effect) of each transaction. Ignore income taxes.
Transaction Net Receivable Net Sales Income From Operation
A
B
C
D
Option for A : NE, +/- 34,000, +34,000, -34,000
Option for B : NE, +/- 1950, +1950, -1950
Option for C: NE, +/- 810, +810, -810
Option for D : NE, +/- 590, +590, -590
Answer:
Fraud Investigators Inc.
1. Journal Entries:
March 31: Debit Accounts Receivable $21,000
Credit Service Revenue $21,000
To record the rendering of service on account.
Oct. 31: Debit Allowance for Uncollectible Accounts $1,300
Credit Accounts Receivable $1,300
To write-off uncollectible accounts.
Dec. 15: Debit Accounts Receivable $760
Credit Allowance for Uncollectible Accounts $760
To reverse a previously written-off account.
Dec. 15: Debit Cash $760
Credit Accounts Receivable $760
To record the cash collected from the customer.
Dec. 31: Debit Bad Debts Expense $460
Credit Allowance for Uncollectible Accounts $460
To record bad debts expense for the year.
A) Debit Accounts Receivable $34,000
Credit Service Revenue $34,000
To record the rendering of service on account.
B) Debit Allowance for Uncollectible Accounts $1,950
Credit Accounts Receivable $1,950
To write off uncollectible accounts.
C1) Debit Accounts Receivable $810
Credit Allowance for Uncollectible Accounts $810
To reverse a previously written-off debt.
C2) Debit Cash $810
Credit Accounts Receivable $810
To record the receipt of cash from the customer.
D) Debit Bad Debts Expense $590
Credit Allowance for Uncollectible Accounts $590
To record bad debts expense for the year.
2. Transaction Net Receivable Net Sales Income From Operation
A +34,000 +34,000 +34,000
B -1,950 NE -1950
C +/- 810 NE +810
D NE NE -590
Explanation:
a) Data and Analysis:
March 31: Accounts Receivable $21,000 Service Revenue $21,000
Oct. 31: Allowance for Uncollectible Accounts $1,300 Accounts Receivable $1,300
Dec. 15: Accounts Receivable $760 Allowance for Uncollectible Accounts $760
Dec. 15: Cash $760 Accounts Receivable $760
Dec. 31: Bad Debts Expense $460 Allowance for Uncollectible Accounts $460
A) Accounts Receivable $34,000 Service Revenue $34,000
B) Allowance for Uncollectible Accounts $1,950 Accounts Receivable $1,950
C1) Accounts Receivable $810 Allowance for Uncollectible Accounts $810
C2) Cash $810 Accounts Receivable $810
D) Bad Debts Expense $590 Allowance for Uncollectible Accounts $590
Corinne is offered a job with a salary of $70,000, which she turns down to start her own business. She uses $20,000 of her own savings to help start the business, savings that had been providing her a return of $1,000 per year. Over her first year in business, Corinne collects total revenue of $180,000 and must cover explicit costs of $105,000. During her first year in business, Corinne's accounting profit is _____, and her economic profit is _____.
Answer:
Accounting profit $75,000
Economic profit $4,000
Explanation:
Calculation to determine the ACCOUNTING PROFIT
Using this formula
Accounting profit=Total revenue - Isxplicit costs
Let plug in the formula
Accounting profit=$180,000- $105,000
Accounting profit=$75,000
Calculation to determine the ECONOMIC PROFIT using this formula
Economic profit=Total revenue-Explicit costs of -Salary-Return per year
Let plug in the formula
Economic profit=$180,000-$105,00-$70,000-$1,000
Economic profit=$4,000
Therefore During her first year in business, Corinne's accounting profit is $75,000 and her economic profit is $4,000