Answer with Explanation:
Yes, I believe credit scores should be considered by a person when choosing a partner. Having a partner also means sharing each other's financial burdens, thus, it is essential to know how a person handles his finances. Having a good credit score will most likely mean that the person is financially responsible. This may also mean that once you live together, he'll share in the expenses of the house and will be responsible in paying them on time. Many relationships end up in divorce because of financial constraints and if this is often the case, it just becomes reasonable to know first the credit score of the partner you'd be choosing.
Suppose the interest rate on your car loan is 15.00 percent and the inflation rate is 14.00 percent. Calculate the real interest rate.
Answer:Real Interest rate= 1%
Explanation:
Real interest rate is an adjusted rate of interest in which the effects of inflation has been removed. For an investor, real interest rate can allow for real yield of fund and for the borrower, the real cost of the fund after the maturity dates. Also, depending on the volatility ( variations ) in inflation real interest rate also can pose a risk or certainty to both parties.
Using the Fisher equation,
Real Interest rate = Nominal interest rate - the actual inflation rate.
= 15.00 % - 14.00%
= 1%
Mary's Music Store reported net income of $148,000. Beginning balances in Accounts Receivable and Accounts Payable were $26,500 and $20,500, respectively. Ending balances in these accounts were $31,500 and $14,800, respectively. Assuming that all relevant information has been presented, Mary's net cash flows from operating activities would be:______.
a. $160,900.
b. $131,100.
c. $151,100.
d. $140,900.
Answer:
Net cash flows from operating activities $137,300
Explanation:
The computation of the net cash flows from operating activities is shown below:
Net income reported $148,000
Less: Increase in account receivable ($31,500 $26,500) -$5,000
Less: Decrease in account receivable ($14,800 - $20,500) -$5,700
Net cash flows from operating activities $137,300
This is the answer but the same is not provided in the given options
On January 1, 1997, an investment account is worth 100,000. On April 1, 1997, the value has increased to 103,000 and 8,000 is withdrawn. On January 1, 1999, the account is worth 103,992. Assuming a dollar weighted method for 1997 and a time weighted method for 1998, the annual effective interest rate was equal to x for both 1997 and 1998.Calculate x.(A) 6.0% (B) 6.25% (C) 6.50% (D) 6.75% (E) 7.0%
Answer:
(B) 6.25%
Explanation:
January 1, 1997 = $100,000
April 1. 1997 = $103,000 - $8,000 = $95,000
January 1, 1999 = $103,992
annual interest rate for 1997 = i = (x - 100,000 + 8,000) / [100,000 - 8,000(1 - ³/₁₂) = (x - 100,000 + 8,000) / [100,000 - 8,000(1 - 0.25) = (x - 92,000) / 94,000
x = 92,000 + 94,000i
annual interest rate for 1998 = 1 + i = 103,992/x
x = 103,992/(1 + i)
0 = x(1 + i) - 103,992
now we replace x by 92,000 + 94,000i
0 = (92,000 + 94,000i)(1 + i) - 103,992
0 = (94,000 (1 + i) - 2,000)(1 + i) - 103,992
we now replace 1 + i by Y
0 = (94,000Y - 2,000)Y - 103,992
0 = 94,000Y² - 2,000Y - 103,992
using a calculator, Y = 6.25%
Taxable Equivalent Yield What's the taxable equivalent yield on a municipal bond with a yield to maturity of 4.25 percent for an investor in the 28 percent marginal tax bracket? (Round your answer to 2 decimal places.)
Answer: 5.90%
Explanation:
From the question, we are informed that we should calculate a taxable equivalent yield on a municipal bond with a yield to maturity of 4.25 percent for an investor in the 28 percent marginal tax bracket. This will be:
Taxable equivalent yield = Tax free municipal bond yield / 1 - Tax rate
= 4.25% / (1 - 28%)
= 0.0425 / (1 - 0.28)
= 0.0425 / 0.72
= 0.0590278
= 5.90%
If the money wage rate increased from $40.00 to 45.24 and hour and consumer prices rose by 16%, we would expect _______ people to try to find a job and employed people to want to work _______ hours.a. more; longer.b. the same number of; the same number of O c. fewer, shorter.d. fewer; longer would.The____O_____. a. quantity of labor supplied; decrease.b. quantity of labor supplied; increase.c. supply of labor; decrease.d. supply of labor, increase.
Answer:
If the money wage rate increased from $40.00 to 45.24 and hour and consumer prices rose by 16%, we would expect _______ people to try to find a job and employed people to want to work _______ hours.
a. more; longer.
The____ would _____.
b. quantity of labor supplied; increase.
Explanation:
Generally, when wage rates increase, this will led to an increase in the inflation rate. The problem is what happens if wages increase less than the inflation rate. This means that real wages will actually decrease once we adjust them to inflation. This will cause more people trying to get a job or working longer hours just to be able to pay for the same amount of goods as before.
In this example, the wage rate increased by 13.1%, but the inflation rate increased by 16%, so real wages decreased.
Researchers have just discovered that antibacterial agents in toothpaste are harmful to human health. At the same time, the price of toothpaste-making equipment has fallen. What definitely happens in the toothpaste market after these events occur (i.e., what are the new equilibrium price and quantity of toothpaste
Answer:
Answers are below:
Explanation:
1. A discovery is made, which shows that antibacterial agents in toothpastes are harmful to human health. This kind of discovery definitely will discourage the purchase of toothpastes, in other words, expect the demand for toothpastes to fall.
2. Simultaneously, the price of machinery (a factor of production) used in making toothpastes falls. This means a fall in the cost of production. This fall will result in increased production and supply of toothpastes.
The result is that there will be a larger amount of toothpaste supplied but a lower amount of toothpaste demanded.
- The new equilibrium price of toothpaste will be lower; both due to a fall in the cost of production of toothpaste and a drop in the demand for it.
- The new equilibrium quantity supplied will be higher
- The new equilibrium quantity demanded will be lower
Mortar Corporation acquired 80 percent of Granite Corporation's voting common stock on January 1, 20X7. On December 31, 20X8, Mortar received $390,000 from Granite for equipment Mortar had purchased on January 1, 20X5, for $400,000. The equipment is expected to have a 10-year useful life and no salvage value. Both companies depreciate equipment on a straight-line basis.Based on the preceding information, in the preparation of consolidation entries related to the equipment transfer for the 20X9 consolidated financial statements, the net effect on accumulated depreciation will be:a. an increase of $160,000.b. an increase of $135,000.c. a decrease of $135,000.Sky Corporation owns 75 percent of Earth Company's stock. On July 1, 20X8, Sky sold a building to Earth for $33,000. Sky had purchased this building on January 1, 20X6, for $36,000. The building's original eight-year estimated total economic life remains unchanged. Both companies use straight-line depreciation. The equipment's residual value is considered negligible.Based on the information provided, while preparing the 20X8 consolidated income statement, depreciation expense will be:a. debited for $750 in the consolidating entries.b. credited for $750 in the consolidating entries.c. debited for $1,500 in the consolidating entries.
Answer:
Following are the solution to this question:
Explanation:
In point a:
Its purchase of assets by a subsidiary to keep does not affect the accumulated depreciation accounts of the balance sheet as we will do the requisite removal of intracompany transactions, while consolidating the two, accumulated deflation will be raised by $135,000
Asset costs = 400,000
10 Days of Existence
Yearly [tex]= \frac{400,000}{10} = 40,000[/tex]
In four years (2005 to 2008) - $160,000 would've been a value regarding.
The accumulated loss was reduced by $160,000 when this was sold.
In the year 2009, [tex]\frac{390,000}{6} = 65,000[/tex] are paid for the depletion of Mortar.
The depletion surplus [tex](65,000-40,000)[/tex] is to become removed [tex]= 25,000[/tex].
Tax due should be removed from 160,000 fewer excess depreciation[tex]=160,000-25,000=135,000[/tex], i.e. 135,000 when consolidating.
In point b:
Planet depreciation = 33,000/5.5/2 (Earth expense /2) = 3000 Planet depreciation.
Sky would've had bee = 36 000/8/2 = 2,250 Half a year of deterioration
The crediting of depletion costs for consolidating entries eliminates the additional depreciation of $750 (3,000-2,250).
Given the following:
Number purchased Cost per Unit Total
January 1 inventory 40 $4 $160
April 1 60 7 420
June 1 50 8 400
November 1 55 9 495
205 1,475
a. Calculate the cost of ending inventory using the weighted-average method (ending inventory shows 61 units). (Round the "average unit cost" and final answer to the nearest cent.)
Cost of ending inventory
b. Calculate the cost of goods sold using the weighted-average method. (Round your intermediate calculations and final answer to the nearest cent.)
Cost of goods sold
Answer:
a) The cost of ending inventory using the weighted-average method is:
$439.20
b) The cost of goods sold using the weighted-average method is:
$10,36.80
Explanation:
a) Data and Calculations:
Number purchased Cost per Unit Total
January 1 inventory 40 $4 $160
April 1 60 7 420
June 1 50 8 400
November 1 55 9 495
Total 205 $1,475
Weighted-average cost per unit = $1,475/205 = $7.20
Ending inventory = 61 units * $7.20 = $439.20
Cost of goods sold = 144 units * $7.20 = $10,36.80
b) The weighted-average method allocates the cost of inventory and the cost of goods sold using an average that is based on the total cost of goods available for sale (beginning inventory plus purchases) divided by the total units available for sale.
William and Charlotte Collins divorced in November of Year 1. William moved out and Charlotte remained in their house with their 10-month-old daughter, Autumn. Diana, Charlotte's mother, lived in the home and acted as Autumn's nanny for all of Year 1. William provided 70 percent of Autumn's support, Diana provided 20 percent, and Charlotte provided 10 percent. When the time came to file their tax returns for Year 1, William, Charlotte, and Diana each wanted to claim Autumn as a dependent. Their respective adjusted gross incomes for Year 1 were $50,000, $35,000, and $52,000. Who has priority to claim Autumn as a dependent
Answer:
Charlotte has the priority to claim Autumn as her dependent even though William covered 70% of her living expenses during the year. In order for a parent to be able to claim a child as a dependent, he/she must live with the child for more than half the year. In this case, since William left the house, Charlotte has preference over claiming Autumn as her dependent (even though William lived with Autumn for 10 months). Also, a parent always has priority over other relatives including a grandparent.
Jamie Patterson is doing research in Los Angle on a new product for Hispanic men and women, ages 18 to 39. She needs to choose a sampling technique. Which would you recommend? a) convenience sample b) any would work perfectly well c) stratified random sample d) quota sample e) random sample
Answer:
c) stratified random sample
Explanation:
Sampling is the process by which a small and representative part of a population is analysed and used to draw conclusions about the larger population.
The main aim of sampling is to reduce the time spent in drawing conclusions about he population not interest. It is easier to analyse small number of variables than the whole population.
Stratified random sample involves choosing a sample that has smaller sub groups called strata. This allows the sample to effectively represent a population when there are more than one characteristic to be considered.
In the given scenario the population is for Hispanics with subgroups of men, women, and age of 18 - 39 years.
So stratified random sampling is the best option
Flask Company reports net sales of $2,190 million; cost of goods sold of $2,060 million; net income of $410 million; and average total assets of $1,960 million. Compute its total asset turnover.
Answer:
1.12
Explanation:
Flask company has a net sales of $2,190 million
The cost of goods sold is $2,060 million
Net income is $410 million
Average total assets is $1,960
Therefore it's total assets turnover can be calculated as follows
= sales/Total assets turnover
= $2,190 million/$1,960 million
= 1.12
When firms invest in suppliers to exchange knowledge and collaborate on improvements, they create shared value for:_______
a. The public.
b. Both the supplier and the lead firm.
c. The supplier only.
d. The lead firm only
Which of the following poses a workplace hazard that may cause accidents?
a. Horizontal layout of office space
b. Elevators in the office building
c. Poor housekeeping of office space
Answer:
c. Poor housekeeping of office space
Explanation:
workplace hazards could be regarded as part of the work which could bring
health and safety risks to the workers, this are aspect of the work with potential to harm. In every business or organization there will always a potential harm even though it varies from one work place to another. Types of hazard in work place are biological, chemical, physical hazard and others.
Therefore, mong the options "only option c" poses a workplace hazard that may cause accidents
Assume that banks keep 10% of deposits as reserves. Households hold money such that the currency-deposit ratio is 80%. The money multiplier is given by:________. a. 1.8 b. 2 c. 1.7 d. None of the other answers e. 1.9
Answer:
b. 2
Explanation:
The computation of the money multiplier is shown below:
Money multiplier is
= (1 + currency deposit) ÷ (reserves + currency deposits)
= (1 + 0.80) ÷ (0.10 + 0.80)
= 1.8 ÷ 0.9
= 2
hence, the money multiplier is 2
Therefore the correct option is b. 2
We simply applied the above formula so that the correct value could come
And, the same is to be considered
In a closed economy, what remains after paying for consumption and government purchases is:________
a. public saving.
b. private saving.
c. national disposable income.
d. national saving.
Answer: d. national saving.
Explanation:
In a closed economy, GDP is calculated by adding Consumption, Investment and Government purchases. The investment in this instance can be thought of as National Saving.
National saving is the difference between the income in the country and the consumption and government purchases. It represent what households and the government save up from their income sources which can be used for investment.
Wasson Widget Company is contemplating the production and sale of a new widget. Projected sales are $300,000 (or 75,000 units) and desired profit is $36,000. What is the target cost per unit?
a. $2.50
b. $2.20
c. $2.80
d. $3.00
Answer:
Target cost per unit = $3.52
Explanation:
Given:
Projected sales = $300,000 or 75,000 units
Desired profit = $36,000
Find:
Target cost per unit
Computation:
Target cost per unit = [Projected sales - Desired profit] / Total units
Target cost per unit = [$300,000 - $36,000] / 75,000
Target cost per unit = $264,000 / 75,000
Target cost per unit = $3.52
Your leader demonstrates both high concern for performance and high concern for employee welfare. Which leadership studies would this be consistent with?
Answer:
The Ohio State studies
Explanation:
A Leader is someone in a group that is straddled with the task of directing task-relevant group activities or, in the absence of a chosen leader, carrying the primary responsibility for performing the above functions in the group.
The Ohio's research/ studies carried out focus on Behavioral approach which was begun by researchers at Ohio State University. Its Leadership theory focus on the kinds of behavior engaged in by people in leadership roles and identified two major types which are consideration and initiating structure. Consideration as a type of behavior identified in the Ohio State studies are behavior showing mutual trust, respect, and a certain warmth and communication between the supervisor and group.
On October 1, 2021, Oberley Corporation loans one of its employees $40,000 and accepts a 12-month, 9% note receivable. Calculate the amount of interest revenue Oberley will recognize in 2021 and 2022.
Answer: Oberley Corporation will recognize in 2021 and 2022 are $900 and $2,700 respectively
Explanation:
Interest Revenue for 2021
= Principal x rate x time
$40,000 x 9% x 3 / 12 ( This is from October to December 31st year end of 2021)
=$900
Interest Revenue for 2022
= Principal x rate x time
$40,000 x 9% x 9 / 12 ( This is from January 1st of 2022 to Octobner 1st , 2022)
=$2,700
Therefore, Interest Revenue Oberley Corporation will recognize in 2021 and 2022 are $900 and $2,700 respectively.
Question 3
A car manufacturer notices that they can sell 11 cars at £18,200, but in order to sell 12 cars they have to
drop the price to £17,400. The marginal cost of producing the 12th car is £9,000. Which of the following
statements is correct?
a) The marginal revenue from selling the 12th car is £18,200.
b) The loss in total revenue of increasing the total number of cars sold from 11 to 12 cars is £800.
c) The marginal revenue when the output is 11 cars is £8,600.
d) The firm should increase its output to maximise its profits.
Answer:
b) The loss in total revenue of increasing the total number of cars sold from 11 to 12 cars is £800.
Explanation:
Marginal revenue is the benefit associated with the sale of one more unit, while marginal costs are the expenses incurred in producing an extra unit. To determine the marginal revenue, one has to isolate the revenue from the last item sold with revenue from the previous units.
In this case, the marginal revenue will be the price of the 12th item minus the price of the 11th item.
Marginal revenue =$17,400 -$18,200
=-$800
Marginal revenue = - $800
The statement that is correct is B. The loss in total revenue of increasing the total number of cars sold from 11 to 12 cars is £800.
Marginal revenue implies the additional revenue that's made as a result of an extra unit sold. Marginal cost is the extra cost incurred as a result of an additional unit produced.
Based on the information given, the marginal revenue will be:
= $17400 - $18200
= -$800.
Therefore, there'll be a loss of $800.
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Suppose that Tyler is an entrepreneur. He works as an economic consultant and because of his quick wit, mastery of economics, and dashing good-looks, Tyler is offered a position that pays $7,000 per month. Tyler declines this offer because he thinks it is less than a normal profit. What does this mean? A) Tyler's dad worked as an economic consultant during the 1980s and earned a higher salary then (controlling for inflation). A normal profit implies that the incomes of people in similar industries should be similar over time. B) Tyler would have to give up the chance to earn more than $7,000 if he were to o accept this position. A normal profit refers to the profit that an entrepreneur can expect to earn in other business opportunities. C) Tyler's wife works as a legal consultant and she is paid more than $7,000 per month. A normal profit implies that consultants in all industries earn the same amount. D) Egnomists aren't normal and don't like earning money in the same way that other people do. E) Tyler's friend works in Europe as an economic consultant and earns a higher salary. The $7,000 per month must be less than a normal profit if European consultants are being paid more.
Answer:
B) Tyler would have to give up the chance to earn more than $7,000 if he were to accept this position. A normal profit refers to the profit that an entrepreneur can expect to earn in other business opportunities.
Explanation:
Since in the question it is mentioned that Tyler is an entrepreneur and works as a consultant of economics. As taylor offered a position where he received $7,000 per month but he declines it as he knows that he can earn above $7,000 so he should give him a chance to earn above $7,000.
But in this case if he accept that he will get a lower of normal profit so he should look other business opportunities in order to earn more than $7,000
Therefore the correct option is b.
A contingent liability: multiple choice is only remotely possible. cannot be estimated. will result from a future event. is a potential liability that has arisen because of a past event or transaction. will only result when a remote event becomes probable. is remotely estimable and probable
Answer:
is a potential liability that has arisen because of a past event or transaction.
Explanation:
A contingent liability is a potential liability that has arisen because of a past event or transaction.
Some of the characteristics of contingent liabilities includes being remote, probable, estimable, and reasonably possible.
In order to record a contingent liability as a liability on a company's balance sheet, it must be probable (likely to occur) and subject to estimate.
Hence, companies are advised to record the contingent liabilities so as to meet the Generally Accepted Accounting Principles (GAAP) and IFRS requirements.
Calculate the planned shortage in dollars if the planned shortage % is 1.64% and the planned net sales are $1,189,000.
Answer:
the planned shortage in dollars is $19,499.60
Explanation:
The computation of the planned shortage in dollars is shown below:
= Percentage of planned shortage × planned net sales
= 1.64% × $1,189,000
= $19,499.60
hence, the planned shortage in dollars is $19,499.60
We simply applied the above formula so that the correct value could come
And, the same is to be considered
A product sells for $200 per unit, and its variable costs are 61% of sales. The fixed costs are $456,300. What is the break-even point in sales dollars? (Do not round intermediate calculations.)
Answer:
Break-even point in sales dollars = $1,170,000
Explanation:
Computation table:
Sales 200
Less VC (61%) 122
Contribution 78
Fixed costs = $456,300
break-even point in units = FC / C = 5,850
break-even point in sales dollars = (break-even point in units)(Sales price) = $1,170,000
Type the correct answer in the box. Spell all words correctly.
Identify the type of goods in the given scenario.
Nina runs a small cafeteria in her neighborhood. Recently, she installed some coffee machines and other utilities in her café. Nina ordered
goods.
Answer:
Foundation
Explanaion:
Nina runs a small cafeteria in her neighborhood. Recently, she installed some coffee machines and other utilities in her café. Nina ordered Foundation goods.
I got this right on plato
On January 1, a store had inventory of $48,000. January purchases were $46,000 and January sales were $95,000. On February 1 a fire destroyed most of the inventory. The rate of gross profit was 25% of cost. Merchandise with a selling price of $5,000 remained undamaged after the fire.
A.) Compute the amount of the fire loss, assuming the store had no insurance coverage. Label all figures.
B.) Prepare any journal entries necessary to reconcile inventory.
Answer and Explanation:
a. The computation of the amount of fire loss is as follows:
Fire loss = Beginning inventory + January Purchase - Cost of sale - Cost of undamaged inventory
Where,
Cost of sale = $95,000 ÷ 125% = $76,000
And cost of undamaged inventory = $5,000 ÷ 125% = $4,000
Now place the above value
So,
Fire loss is
= $48,000 + $46,000 - $76,000 - $4,000
= $14,000
b. The journal entry is
Loss on sale of fire $14,000
To Inventory $14,000
(Being the loss on sale of fire is recorded)
Here the loss on sale of fire is debited as it increased the losses and credited the inventory as it reduced the assets
If an asset costs $16,000, has an expected useful life of 8 years, is expected to have a $2,000 salvage value and generates net annual cash inflows of $2,000 a year, the cash payback period is:__________.
A) 8 years.
B) 7 years.
C) 6 years.
D)5 years.
Answer:A) 8 years
Explanation: For every business, the shorter the payback period, the more attractive the investments and the longer the payback period the less attractive such investment is.
Payback period is the time in which the initial cost of an investment is able to be recouped through inflow of cash generated by such investment.
It is calculated as cost of the initial investment divided by the annual cash flow. ie
Cash Payback Period= Initial Investment/ Annual Cash flow
= 16,000/ 2000
= 8 years
58:46
2
What best explains the relationship between a borrower's credit score and a down payment requirement?
ОООО
Someone with a high credit score may be required to make a higher down payment.
Someone with a high credit score may be required to make a lower down payment.
Someone with a low credit score may be required to make a lower down payment.
Someone with a low credit score may not have to make a down payment.
Answer:
Excellent
Explanation:
Over the next three years, Distant Groves wl pay annual dividends of $.65, S.70, and $.75 a share, respectively. After that, dividends are projected to Increase by 2 percent per year. What is one share of this stock worth today at a required return of 14.5 percent?
a) $5.49
b) $5.94
c) $5.68
d) $5.55
e) $5.86
Answer:
c) $5.68
Explanation:
The worth of this stock today is the present value of the future dividends which is computed by discounting future dividends as well as the terminal value using the required rate of return of 14.5% as the appropriate discount rate as shown thus:
Year 1 dividend=$.65
Year 2 dividend=$0.70
Year 3 dividend=$0.75
terminal value of dividends=Year 3 dividend*(1+g)/Ke-g
g=dividend terminal growth rate=2%
Ke=required rate of return=14.5%
terminal value of dividends=$0.75*(1+2%)/(14.5%-2%)=$ 6.12
Share price=$.65/(1+14.5%)^1+$.70/(1+14.5%)^2+$.75/(1+14.5%)^3+$6.12/(1+14.5%)^3
share price=$5.68
why banks exist as financial intermediaries.
Answer:
Banks act as financial intermediaries because they stand between savers and borrowers. Savers place deposits with banks, and then receive interest payments and withdraw money. Borrowers receive loans from banks and repay the loans with interest.
Explanation:
;)
Swifty Corporation sells two types of computer hard drives. The sales mix is 30% (Q-Drive) and 70% (Q-Drive Plus). Q-Drive has variable costs per unit of $105 and a selling price of $165. Q-Drive Plus has variable costs per unit of $120 and a selling price of $210. The weighted-average unit contribution margin for Swifty is:________
a. $165
b. $81
c. $82.5
d. $69.0
Answer:
b. $81
Explanation:
Calculation for theweighted-average unit contribution margin for Swifty
Using this formula
Weighted-average unit contribution margin = (Contribution per unit of Q-Drive × Weight of Q-Drive in sales mix) + (Contribution per unit of Q-Drive Plus × Weight of Q-Drive Plus in sales mix)
Let plug in the formula
Weighted-average unit contribution margin= [(Selling Price - Variable Costs) × 30%] + [( Selling Price - Variable Costs) × 70%]
Weighted-average unit contribution margin= [($165 - $105) × 30%] + [($210 - $120) × 70%]
Weighted-average unit contribution margin=($60 × 30%) + ($90 × 70%)
Weighted-average unit contribution margin= $18 + $63
Weighted-average unit contribution margin= $81
Therefore The weighted-average unit contribution margin for Swifty is $81