Answer:
January 18, 202x, merchandise sold using credit cards
Dr Cash 18,430
Dr Credit card fees 570
Cr Sales revenue 19,000
When credit card sales are deposited immediately (e.g. VISA, MasterCard) they are considered cash sales. When the credit card companies delays the deposit, they are considered accounts receivable, e.g. American Express.
Why do you think
Relationship skills are
important when you own a
business?
Assume that the accounts receivable (in millions) were $1,308 at the beginning of
1. Compute the accounts receivable turnover for Year 2 and Year 1. Round to two decima
Best Buy, Media Play,
Buy reported the following (in millions):
Sales
Accounts receivable at end of year
fiscal Year 1.
Year 2
$39,528
1,162
Year 1
$40,339
1,280
places.
2. Compute the days' sales in receivables at the end of Year 2 and Year 1. Use 365 dans
and round to one decimal place.
3.
What conclusions can be drawn from (1) and (2) regarding Best Buys
efficiency in collecting receivables?
4.
What assumption did we make about sales for the Best Buy ratio computa-
tions that might distort the ratios and therefore cause the ratios not to be comparable
for Year 2 and Year 1?
Answer:
hhhhhhhhhhhhhhhhggggggg
Marie is expected to receive $25,000 at the end of 7 years. If the interest rate is 10% per year, how much is it worth at the end of 10 years?
what are the three basic types of issues that arise in business finance?
Answer:
Capital Budgeting, Capital Structure Decisions, and working Capital Management.
• Read one of the following recommended books: Richest Man in Babylon by George S. Clason (HIGHLY RECOMMENDED) Financial Literacy for Teens by Chad Foster The Four Laws of Debt Free Prosperity by Blaine Harris & Charles Coonrandt Rich Dad, Poor Dad by Robert Kiyosaki The Millionaire Next Door by Thomas J. Stanley, Ph.D. Share what you learned with two other people in your social or family circle and summarize your conversation in your write up. Create or choose a graphic organizer to organize a visual representation of what you learned from your book. .Write a 500 word response on how you will apply what you learned from this class and the book you read. Your organizer and response will be graded using the following rubric: Requirement Possible Organizer: Graphic organizer is concise and well arranged with graphic elements representing parts of the book. Contains at least five topics covered in the book The organizer is specific to the main point covered in the book 50 Response: Describes how you plan to apply what you have learned to your financial circumstances. Contains a reflection of the conversation held with social/family circle. 50
Answer:
ok
Explanation:
I know it's late but do you still need the answer
Answer:
Did you ever get it done?
Explanation:
I need the exact same assignment rn.
The five competitive forces model suggests the bargaining power of buyers may affect industry competition. Which of the following is an example of a way buyers might affect an? industry?
A. The Technicolor Company no longer has any bargaining power over movie? studios, limiting the profitability of producing color movies.
B. McDonald's has significant bargaining power over napkin' suppliers, which raises the napkin prices they pay.
C. Walmart has limited bargaining power over suppliers, which results in many of their suppliers altering their distribution systems to accommodate Walmart's need to control the stocks of goods in stores.
D. GM has limited bargaining power in the tire market, which lowers tire prices.
E. Walmart has significant bargaining power over its suppliers, which decreases the profitability of the suppliers.
Answer: E. Walmart has significant bargaining power over its suppliers, which decreases the profitability of the suppliers.
Explanation:
Walmart as buyers have significant bargaining power over their suppliers because they are quite large in size and therefore buy in bulk.
As a result of this, they can negotiate prices with suppliers that favor them not the suppliers which will decrease the profitability of the suppliers who would be compelled to sell to Walmart because of how much of their goods Walmart can buy.
Which statement about the role of white papers in business solutions is true? Multiple Choice They directly address a customer's needs by minimizing click-away. They help a customer solve a problem without promoting a particular company's products. They are regularly updated websites, written in an informal and conversational style. They have the promotional objectives of brand positioning. They are very effective in building customers' trust when a subjective tone is used.
Answer: They help a customer solve a problem without promoting a particular company's products
Explanation:
White paper is simply refered to as an authoritative report that is used in order to addresses certain issues that are deemed to be vital and also provide solution to such issues.
White papers gives awareness regarding particular products and it helps customer solve a problem without promoting a particular company's products.
Jamie is single. In 2020, she reported $108,000 of taxable income, including a long-term capital gain of $5,800. What is her gross tax liability? (Round your answer to the nearest whole dollar amount.) (Use the tax rate schedules, long-term capital gains tax brackets.)
a. $19.478
b. $20143
c. $18,728
d. 516 200
Answer:
$19,478
Explanation:
Computation of tax liability
i. Total income excluding LTC gain = 108,000 - 5,800 = 102,200
ii. Tax on 102,200 as per single tax schedule = 14605.5+((102200-85525)*24%) = 18607.50
iii. Tax on LTC gain at 15% = 5800 * 15% = 870
So, Gross Tax liability = $18607.50 + $870 = $19477.50 = $19,478
Note: As per Long term capital gain schedule
Corporation is considering permanently shutting down a department that has an annual contribution margin of $32,000 and $64,000 in annual fixed costs. Of the fixed costs, $16,000 cannot be avoided. The effect of eliminating this department on Fabio's overall net operating income would be:________.
Answer:
an increase of $16,000
Explanation:
Calculation for what The effect of eliminating this department on Fabio's overall net operating income would be
Calculatation of Segment Margin
Contribution Margin 32,000.00
Less Avoidable Fixed Costs( 48,000.00)
(64,000+16,000)
Segment Margin (-$16,000)
Based on the above calculation in a situation where the department was eliminated it means that the company have to eliminate the segment margin department's with negative amount of $16,000 which will lead to the overall net operating income to increase by the amount of $16,000
Therefore The effect of eliminating this department on Fabio's overall net operating income would be:an increase of $16,000
1. Depreciation expense was $17,500. 2. Dividends declared and paid were $20,000. 3. During the year equipment was sold for $8,500 cash. This equipment cost $18,000 originally and had accumulated depreciation of $9,500 at the time of sale. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
Answer:
the question is incomplete since the net income is missing, so I looked for a similar question and found the attached images.
Statement of Cash flows
For the Year ended December 31, 2017
Cash flow from operating activities
Net income $32,000
Adjustments to net income:
Depreciation expense $17,500Increase in accounts payable $4,000Increase in accounts receivable ($6,000)Increase in inventory ($8,000)Decrease in taxes payable ($1,000) $6,500Cash flow from operating activities $38,500
Cash flow from investing activities
Sale of equipment $8,500
Cash flow from financing activities
Issuance of common stocks $4,000
Dividends paid ($20,000)
Decrease in bonds payable ($16,000)
Cash flow from financing activities ($32,000)
Net increase in cash position $15,000
Beginning cash balance $20,000
Ending cash balance $35,000
January 1, 20x1, as related to the establishment of the patent. On June 30, 20x2, Pitchfork spent $130,000 to successfully defend a patent infringement case against the drug. As a result, the estimated remaining useful life was determined to be 16 years from June 30, 20x2. Pitchfork uses the straight-line method to amortize intangibles. What is the amount of amortization expense Pitchfork will record on their December 31, 20x2, Income Statement
Answer:
The question is incomplete since the cost of the patent is missing. I will try to answer the question using some random number for the cost:
purchase cost of the patent = $200,000
assuming that the patent originally had a useful life of 10 years
patent amortization for 2021 = $200,000 / 10 = $20,000
patent's carrying value Dec. 31, 2021 = $200,000 - $20,000 = $180,000
since the company incurred legal costs = $130,000 and was able to extend the patent's useful life:
amortization expense January 1 to June 30 2022 = $20,000 x 6/12 = $10,000
carrying value of the patent on June 30, 2022 = $180,000 - $10,000 + $130,000 = $300,000
since the patent's useful life was extended to 16 years, starting June 30, 2022, the amortization expense per year = $300,000 / 16 years = $18,750
total amortization expense during 2022 = $10,000 (for the first 6 months) + $18,750/2 (for the remaining 6 months) = $10,000 + $9,375 = $19,375
Oscar makes purchases of an existing product (X) such that the marginal utility of the last unit he consumes is 10 utils and the price is $5. He also tries a new product (Y) and the marginal utility of the last unit he consumes is 8 utils and the price is $1. The equal marginal principle suggests that Oscar should rev: 04_09_2018 Multiple Choice increase his consumption of product Y and decrease his consumption of product X.
Answer:
INCREASE in Consumption of product Y
DECREASE in Consumption of product X
Explanation:
Based on the information given we were told that the already existing product (X) has a marginal utility of 10 utils as well as the price of the amounts of $5 while the new product (Y) has a marginal utility of 8 utils as well as the price of the amounts of $1 which means that PRODUCT Y marginal utility and price is lower than that of PRODUCT X marginal utility and price.
Therefore equal marginal principle suggests that Oscar should INCREASE his consumption of product Y and DECREASE his consumption of product X reason been that product Y has a lower marginal utility of 8 utils and the price of the amounts of $1 which means that his consumption of Product Y has to be INCREASED while product X on the other has a higher marginal utility 10 utils as well as the price of the amounts of $5 which means that his Consumption of Product X has to DECREASED.
Computer user support Is another narme for:
A. Customer service
B. Technical support
C. Network support
D. Information security
Answer: Technical support
Explanation: Computer user support, knows also as technical support, is responsible for providing help and support to individuals and organizations using computers and various equipment. They respond through phone calls and also through emails, in order to provide a service so that it is available in different ways for its users. In various situations, it is necessary for the support technician to make a visit as there are situations that cannot be done through calls or emails.
OKRs were naturally integrated into the management of MyFitnessPal. A successful innovation to the OKR system made by Mike Lee was to match objectives to people rather than match people to objectives.
A. True
B. False
Answer:
A. True
Explanation:
Since in the question it is mentioned that QkR is naturally integrated into the MyFitnessPal management. Also the innovation would become the successful when the objectives are matches according to the people instead matching the people to objectives as in this the people are aligned and understand what the firm wants that they work like this
Therefore the given statement is true
Cutting down on costs by earning an Associate’s degree first and then transferring to a four-year college or university can be done by going to what type of higher education institution?
A local community college.
A trade school.
A specialized training program.
Both b and c are correct.
Answer:
[tex]\boxed {\boxed {\sf A. \ Local \ community \ college}}[/tex]
Explanation:
Local community colleges are a great option because they provide a foundation of education. They offer courses that are equivalent to a four-year college/university's, but at much lower costs. This type of education allows you to earn a 2 year Associate's degree.
You can decide your path after, but many people choose to transfer to another four-year college/university. When they transfer, the 2 years at the community college counts as 2 years at the chosen institution, so they enter as a junior.
Trade schools and training programs offer valuable education, but typically not Associate's degrees.
So, the best answer is choice A. Local community college
Answer:
A local community college.
Explanation:
Merger Co. has 10 employees, each of whom earns $2,000 per month and has been employed since January 1. FICA Social Security taxes are 6.2% of the first $128,400 paid to each employee. and FICA Medicare taxes are 1.45% of gross pay. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to each employee.
Required:
Prepare the March 31 journal entry to record the March payroll taxes expenses.
Answer: Please see answer in explanation column
Explanation:
Journal To record the employer's payroll taxes Expense on March 31st by Merger Co.
Date Account Titles and Explanations Debit Credit
Mar. 31 Payroll Tax Expenses $2,730
FICA - Social Security Taxes Payable $1,240
FICA - Medicare Taxes Payable $290
Federal Unemployment Taxes Payable $120
State Unemployment Taxes Payable $1,080
Calculation:
FICA - Social Security Taxes Payable= 6.2 % x 2000 x 10 employees
= $1,240
FICA - Medicare Taxes Payable=1.45% x 2000 x 10 employees
=$290
Federal Unemployment Taxes Payable=0.6% x 2000 x 10 employees
=$120
State Unemployment Taxes Payable=5.4% x 2000 x 10 employees
=$1.080
Payroll Tax Expenses= FICA - Social Security Taxes Payable + FICA - Medicare Taxes payable + Federal Unemployment Taxes payable +State Unemployment Taxes= $1,240 + $290 + $120 + $1,080 =$2,730
Assuming a company has no other funding sources other than debt and common equity, what is the difference between enterprise value and equity value?
Answer:
eat potato bitc 1234567890
Proponents of rational expectations argued that the sacrifice ratio:______.a. could be high because people might adjust their expectations quickly if they found anti-inflation policy credible. b. could be low because people might adjust their expectations quickly if they found anti-inflation policy credible. c. could be low because it was rational for people not to immediately change their expectations. d. could be high because it was rational for people not to immediately change their expectations.
Answer:
b. could be low because people might adjust their expectations quickly if they found anti-inflation policy credible
Explanation:
In the given situation, it is mentioned that the rational expectations proponets said that the sacrified ratio would be lesser as the people wants to adjust their expectations in a fastest way in the case when they found that the anti-inflation policy is credible
Therefore as per the given situation, the option b is correct
When people who earn higher incomes pay higher taxes, this represents what role of government?
a supervisory body
one that reallocates income
an entrepreneurship
a source of public good
Answer:
one that reallocates income
what is the fullform of MAN
Answer:
hope help to u
Explanation:
Metropolitian Area Network
Answer:
metropolitian area network
After completing a career search Patrick has decided that he wants to be a paralegal which two skills or abilities are important for him to have in order to excel in this career
A.Research skills be
B.analytical thinking skills
C.creative thinking skills
D.math skills
A granary allocates the cost of unprocessed wheat to the production of feed, flour, and starch. For the current period, unprocessed wheat was purchased for $320,000, and the following quantities of product and sales revenues were produced. Product Pounds Price per pound Feed 100,000 $ 1.60 Flour 72,000 2.50 Starch 40,000 1.50 How much of the $320,000 cost should be allocated to flour if the value basis is used
Answer:
the cost that should be allocated to flour is $144,000
Explanation:
The computation is shown below:
Particulars Total value
Feed (100,000 × $1.60) = $160,000
Flour (72,000 × $2.50) = $180,000
Starch (40,000 × $1.50) = $60,000
Total $400,000
Now the allocation made to flour is
= $180,000 ÷ $400,000 × $320,000
= $144,000
Hence, the cost that should be allocated to flour is $144,000
Suppose that you are an economic-policy advisor. Environmental groups are pressuring you to implement the highest-possible carbon tax while industry groups are pressuring you to implement no carbon tax at all. Both argue that their position makes more sense economically. In fact, the most efficient tax level is: Group of answer choices a tax equal to the social cost. a tax equal to the external cost. the highest possible tax. no tax at all.
Answer: a tax equal to the external cost.
Explanation:
The most efficient taxes are those that will be equal to the external cost of production that a company is imposing on the environment. This means in effect that a company is paying for the pollution it is inflicting on the environment.
Companies polluting less would pay less and those polluting more would pay more. This is the logic of a tax equal to the external cost.
Bantam company calculated its net income to be $77,600 based on the unadjusted trial balance. The following adjusting entries were then made for: Salaries and wages owed but not yet paid of $795. Interest earned but not received from investments of $755. Prepaid insurance premiums amounting to $555 have expired. Deferred revenue in the amount of $755 has now been earned. Required: Determine the amount of net income (loss) that will be reported after the adjustments are recorded.
Answer:
$77,760
Explanation:
After adjustment items of expenses will be deducted from the Net income, and items of income will be added to the net income.
Item of expenses = unpaid salary + Prepaid insurance (Expired)
Item of income = Interest earned + revenue
Net income after deduction = 77,600 - 795 - 555 + 755 + 755
Net income after deduction = $77,760
With current technology, suppose a firm is producing 800 loaves of banana bread daily. Also assume that the least-cost combination of resources in producing those loaves is 5 units of labor, 5 units of land, 4 units of capital, and 1 unit of entrepreneurial ability, selling at prices of $40, $60, $60, and $20 per unit, respectively.
a. If the firm can sell these 800 units at $1 per unit, will it continue to produce banana bread?
b. What is the firm's total revenue?
c. What is the firm's total cost?
d. What is the firm's profit or loss?
Answer:
a. Since a profit of $40 is being made as obtained in part d, the firm will continue to produce banana bread.
b. Firm's total revenue is $800.
c. Firm's total cost is $760.
d. Firm's profit is $40.
Explanation:
a. If the firm can sell these 800 units at $1 per unit, will it continue to produce banana bread?
The decision criteria is to continue to produce if profit is being made or stop to produce if loss is being incured.
Since a profit of $40 is being made as obtained in part d, the firm will continue to produce banana bread.
b. What is the firm's total revenue?
Total revenue = Selling price per unit * Sales unit = $1 * 800 = $800
c. What is the firm's total cost?
This can be calculated as follows:
Cost of labor = Unit of labor * Unit labor cost = 5 * $40 = $200
Cost of land = Unit of land * Unit land cost = 5 * $60 = $300
Cost of capital = Unit of capital * Unit capital cost = 4 * $60 = $240
Cost of entrepreneurial ability = Unit of entrepreneurial ability * Unit entrepreneurial ability cost = 1 * $20 = $20
Total cost = Cost of labor + Cost of land + Cost of capital + Cost of entrepreneurial ability = $200 + $300 + $240 + $20 = $760
d. What is the firm's profit or loss?
Profit (loss) = Total revenue - Total cost = $800 - $760 = $40
BlueInk Corporation's accumulated depreciation increased by $14,000, while parents decreased by $3,875 between consecutive balance sheet dates. There were no purchases or sales of depreciable or intangible assets during the year. In addition, the income statement showed a loss on sale of land of $1,950. Accounts receivable increased $6,320, inventory decreased $3,125, prepaid expenses decreased $720, and account payable increased $2,760. Reconcile a net income of $55,000 to net cash flow from operating activities.
Answer:
$69,285
Explanation:
Reconcilation of the net income of net cash flow from operating activities.
Cash flow from operating activities
Net income $55,000
Adjustments made to reconcile:
Add: Depreciation expense $14,000
Less Increase in account receivable ($6,320)
Add Decrease in inventory $3,125
Add Decrease in prepaid expense $720
Add Increase in account payable $2,760
Net cash flow from operating activities $69,285
Therefore the net income of net cash flow from operating activities will be $69,285
Amazon's start of rapid delivery services in some U.S. cities is an example of which type of strategy?
Answer:
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What are examples of professional organizations? Check all that apply.
Answer:
AABB (formerly American Association of Blood Banks)
Academy of International Business (AIB)
Academy of Management (AOM)
American Institute of Certified Public Accountants (AICPA)
Association for the Advancement of Cost Engineering (AACE International)
Association for Computing Machinery (ACM)
The following data has been provided for Hisjum631 Corporation for the period below:_______.
Return on investment 22 %
Average operating assets $ 40,000
Minimum required rate of return 16 %
What is the residual income for Hisjum631 for the period (closest to)?
Answer:
$2,400
Explanation:
Calculation for the residual income for Hisjum631 for the period
First step is to calculate the ROI Using this formula
ROI = Net operating income ÷ Average operating assets
Let plug in the formula
0.22 = Net operating income ÷ $40,000
Net operating income = 0.22× $40,000
Net operating income = $8,800
Now let calculate the Residual income using this formula
Residual income = Net operating income − (Average operating assets × Minimum required rate of return)
Let plug in the formula
Residual income= $8,800 − ($40,000 × 0.16)
Residual income= $8,800 − $6,400
Residual income= $2,400
Therefore the residual income for Hisjum631 for the period (closest to) $2,400
Haas Enterprise Inc. has outstanding 30,000 shares of $50 par value, 6% preferred stock and 70,000 shares of $1 par value common stock. During its first three years in business, it declared and paid no cash dividends in the first year, $310,000 in the second year, and $90,000 in the third year. (a) If the preferred stock is cumulative, determine the total amount of cash dividends paid to each class of stock in each of the three years.
Answer:
Year 1
Preferred stock $0
Common stock $0
Year 2:
preferred stock $180,000
common stock $130,000
Year 3:
Preferred stock $90,0000
Common stock nil
Explanation:
The fact that preferred stock is cumulative means that dividends left unpaid in years when no dividends were declared would be paid in subsequent years.
annual preferred stock dividends=30,000*$50*6%=$90,000
No dividends were declared in year 1, hence no dividends were paid
In year 2 $310,000 of dividends were declared
Dividends paid to preferred stock in year 2=$90,000+$90,000=$180,000(for both first year and second year)
common stock dividends in year 2=$310,000-$180,000=$130,000
In year 3 the dividends of $90,000 declared would be paid to preferred stock