Answer:
the minimum cash loan borrowed is $369,000
Explanation:
The computation of the minimum cash loan borrowed is given below:
= Purchase value of an equipment - cash balance budgeted for september month + minimum cash balance
= $400,000 - $56,000 + $25,000
= $369,000
hence, the minimum cash loan borrowed is $369,000
On April 1, Griffith Publishing Company received $27,180 from Santa Fe, Inc. for 36-month subscriptions to several different magazines. The company credited Unearned Fees for the amount received and the subscriptions started immediately. Assuming adjustments are only made at year-end, what is the adjusting entry that should be recorded by Griffith Publishing Company on December 31 of the first year
Answer:
Debit Unearned Fees, $6,795; credit Fees Earned, $6,795.
Explanation:
Based on the information given the appropriate adjusting entry that should be recorded by Griffith Publishing Company on December 31 of the first year will be :
Debit Unearned Fees $6,795
Credit Fees Earned $6,795
[$27,180/36 months*9 months]
April 1 to December 31=9 months
I need money help me!
Answer:
Leadership in restaurants calls for implementing systems that ensure the smooth running of the business. This means setting up systems that help with cash flow management, inventory tracking, staff management, training programs and others. That is not all.
Explanation:
Great knowledge of the restaurant business
Motivate your staff and recognize their achievement
Set Goals
Set training programs
Handle stress
Delegate wisely
Be approachable and trustworthy
Leaders in the restaurant industry are realizing that old vertical leadership styles don't bring the desired results. By generating resentment, dependence, passivity, feelings of inferiority or mistrust, they do not motivate people to give their best, to work with excellence and to be in a continuous learning process; nor do they encourage unity, collaboration, and synergy.
It is for this reason, a growing number of restaurant owners are beginning to practice service-oriented leadership, which I define as servant leadership.
A Forman of a construction company is responsible for a construction crew comprised of many unskilled workers. The work is hard, and employee turnover rate is high with individuals often leaving without notice. Throughout the work week employees record their attendance on separate time cards, which the foreman approves and submits to the payroll department at the end of week. Based on the time cards, the payroll department prepares the paychecks, sends them to the foreman who then distributes the checks to his work crew. Required Identify the segregation of duties problems in the system. What sorts of fraud may result from the above control problem(s)
Solution :
In the context, it is given that foreman in a construction company is responsible for the workers who are unskilled labors.
1. The segregation of the duties which involves the separation of the main functions and have them to conducted by the different workers. But here in this case, the approval of the attendance of the employees and the distribution of the checks to the worker are the important activities that are being conducted by a single employee.
2. This may result into frauds to the company. If the segregation of the duties is not implemented, then the company is at risk. This is because a single employee does the work for the approval of the attendance of the workers and distributing the checks to them for their work. So this can result in a fraud if the foreman wants to do fraud. But distributing the work among two employee will reduce the risk of fraud as one employee many not be willing to do fraud.
Segregation of duties is an internal control designed to prevent error and fraud by ensuring that at least two individuals are responsible for checking and authorizing transactions.
The segregation of the duties which involves the separation of the main functions and have them to conducted by the different workers. In the above scenario, the approval of the attendance of the employees and the distribution of the checks to the worker are the important activities that are being conducted by a single employee.
What sorts of fraud may result from the above control problem?The above may bring about fraud in the company where segregation of the duties is not in place. This means that the company is at risk.
Reason is that a single employee does the work for the approval of the attendance of the workers and distributing the checks to them for their work. Hence, can result in a fraud if the foreman wants to engage in fraud.
Learn more about segregation of duty here : https://brainly.com/question/26589679
What is one thing every good career should provide you
Cash $13,000; Short-term Debt $21,000; Buildings and Equipment $420,000; Inventory, $44,000; Notes Payable $60,000; Accumulated Depreciation $110,000; Common Stock $80,000; Accounts Receivable $38,000; Retained Earnings $237,000; Accounts Payable $17,000.
Total assets on the balance sheet are: _________
Answer:
$405,000
Explanation:
Computation of total assets on balance sheet.
Fixed assets:
Building and equipment
$420,000
Less:
Accumulated depreciation
($110,000)
Net book value
$310,000
Total fixed assets $310,000
Current assets:
Cash
$13,000
Inventory
$44,000
Accounts receivable
$38,000
Total current assets $95,000
Therefore,
Total assets
= Total fixed assets + Total current assets
= $310,000 + $95,000
= $405,000
Two countries, Alpha and Beta, have identical production possibilities frontiers. What is the outcome if Alpha produces at point A and Beta produces at point B?
Answer:
C.) Alpha consumes more than Beta today, but it will grow slower than Beta.
Explanation:
In the case when the two countries i.e. Alpha and beta have the same kind of production probabilities so the outcome when the alpha produced at point A while beta produced at point b is that the alpha consumers more than beta but the growth is slow as compared to beta because the beta is the point where there is a large capital but the less consumption. And, when there is a more capital goods so the growth if we compared with the alpha growth
A group of 10 people have the following annual incomes: $24,000, $18,000, $50,000, $100,000, $12,000, $36,000, $80,000, $10,000, $24,000, $16,000. Calculate the share of total income that each quintile receives from this income distribution. What percent of the total income is represented by the highest quintile
Answer:
48.65%
Explanation:
Given Income are written in increasing order
First Quintile 10,000 12,000
Second Quintile 16,000 18,000
Third Quintile 24,000 24,000
Fourth Quintile 36,000 50,000
Fifth Quintile 80,000 100,000
Total Income % share
First Quintile 10,000 12,000 22,000 5.95
Second Quintile 16,000 18,000 34,000 9.19
Third Quintile 24,000 24,000 48,000 12.97
Fourth Quintile 36,000 50,000 86,000 23.24
Fifth Quintile 80,000 100,000 180,000 48.65
Total income in the economy 370,000 100%
The percentage of the total income of the highest quintile is 48.65%
One of the advantages of work group cohesiveness is: the absence of conflict with other work groups formalized group norms reduced employee turnover the absence of resistance to change groupthink
Answer:
reduced employee turnover
Explanation:
Group cohesiveness occurs at the time when the bonds between the social group members to one another or the overall group are linked with each other. It can be in social relations, emotions, task relations, etc forms
Its advantage is that it decreased the turnover of the employees .Here the objective to accomplish the goal as a group rather than an individual
Therefore the above represent the answer
Identify which statement is a characteristic of long-run for a firm.
A. Time period with at least one fixed element
B. Time period with the least control over constraints
C. Time period of determining quantity and cost that yields the greatest profit
D. Time period when constraints are most likely to be variable
Answer:
D. Time period when constraints are most likely to be variable
Explanation:
The long run period of a firm is when the factors of production such as land, labor , capital etc varies. In this period, a firm is flexible in its production decision due to the variability in the factors of production.
In the long run, a firm has time to build a bigger factory hence respond to changes in demand. Also, the price level(general), expectation, and contractual wages , all adjust to the prevailing economic condition in the long run period.
Answer:
D. Time period when constraints are most likely to be variable
Explanation:
The long run is a period of time in which all factors of production and costs are variable. In the long run, firms are able to adjust all costs, whereas in the short run firms are only able to influence prices through adjustments made to production levels.
The $1,000 face value ABC bond has a coupon rate of 10%, with interest paid annually, and matures in 3 years. If the bond is priced to yield 12%, what is the bond's value today
Answer:
Bond Price = $951.9633746 rounded off to $951.96
Explanation:
To calculate the quote/price of the bond today, which is the present value of the bond, we will use the formula for the price of the bond. As the bond is an annual bond, we will use the annual coupon payment, annual number of periods and annual YTM. The formula to calculate the price of the bonds today is attached.
Coupon Payment (C) = 1000 * 10% = $100
Total periods remaining (n) = 3
r or YTM = 12%
Bond Price = 100 * [( 1 - (1+0.12)^-3) / 0.12] + 1000 / (1+0.12)^3
Bond Price = $951.9633746 rounded off to $951.96
Overhead costs include: Multiple Choice Direct and indirect costs. Indirect costs only. Direct costs only. Neither direct nor indirect costs.
Answer:
Indirect costs only
Explanation:
Overhead is defined as cost incurred by a business in running it's operations, it cannot be directly linked to a product in the manufacturing process.
These costs are incurred regardless of how successful a business is.
For example rent, tax, utilities, insurance, and maintenance of machinery are all overhead costs.
Since they do not contribute directly to the product they are referred to as indirect costs.
You are to make monthly deposits of $1,721 into a retirement account that pays 8 percent interest compounded monthly. If your first deposit will be made one month from now, how large will your retirement account be in 5 years?
Answer:
FV= $126,585.60
Explanation:
Giving the following information:
Monthly deposit (A)= $1,721
Interest rate (i)= 0.08/12= 0.0067
Number of periods (n)= 12*5= 60 months
To calculate the future value, we need to use the following formula:
FV= {A*[(1+i)^n-1]}/i
A= monthly deposit
FV= {1,721*[(1.0067^60) - 1]} / 0.0067
FV= $126,585.60
James Ryan has been a Budweiser Beer distributor for the past 20 years. James owns a ________ franchise.
Answer:
product and trademark
Explanation:
These are the options for the question
business format
product and business format
product plus
business design
product and trademark
product and trademark
Product franchise can be regarded as franchising agreement in which manufacturers give a retailers access to distribute the products of the manufacturer using the trademark as well as names of the manufacturer. It is right given to to market a product using another person trade mark.
For, instance in the case whereby James Ryan has been a Budweiser Beer distributor for the past 20 years. Then James owns a product and trademark
franchise.
Express the following comparative income statements in common-size percents.
Using the common-size percentages, which item is most responsible for the decline in net income?
Income Statement Reason for
Decline in Net Income
GOMEZ CORPORATION
Comparative Income Statements
For Years Ended December 31
Current Year Prior Year %
Sales 770,000 $635,000
Cost of goods sold 568,100 284,400
Gross profit 201,900 350,600
Operating expenses 129,200 262,400
Net income 72,700 88,200
Using the common-size percentages, which item is most responsible for the decline in net income?
Answer:
Gomez Corporation
Using the common-size percentages, the item that is most responsible for the decline in net income in the current year when compared with the prior year is:
Cost of goods sold. It increased to 74% from 45% in prior year, an increase of about 100%.
Explanation:
a) Data and Calculations:
GOMEZ CORPORATION
Comparative Income Statements
For Years Ended December 31
Current Year % Prior Year %
Sales 770,000 100% $635,000 100%
Cost of goods sold 568,100 74% 284,400 45%
Gross profit 201,900 26% 350,600 55%
Operating expenses 129,200 17% 262,400 41%
Net income 72,700 9% 88,200 14%
You currently have $20,000 in a bank account that pays you 5 percent interest annually. You plan to withdraw $800 (starting 1 year from now) every year for the next 10 years in the same account. How much are you going to have in that account at the end of 10 years?
Answer: $22,515.58
Explanation:
Based on the information given, the amount that'll be in the account at the end of the 10 years will be:
Present Value, PV = $20,000
Interest rate = 5% = 0.05
PMT = 800
nper = 10 years
Therefore, the future value will be solved in Excel by using the formula:
= FV(rate,nper,pmt,pv,type)
= FV(0.05,10,800,20000,0)
= $22,515.58
Therefore, the value in the account at the end of 10 years is $22,515.58
Consider the following game. Harry has four quarters. He can offer Sally from one to four of them. I
Answer:
i think Harry should be nice a gave Sally 2 of them.Then, they well have the same amount
Explanation:
The Matching Principle Three methods of matching costs with revenue were described in the chapter: (a) directly match a specific form of revenue with a cost incurred in generating that revenue, (b) indirectly match a cost with the periods during which it will provide benefits or revenue, and (c) immediately recognize a cost incurred as an expense because no future benefits are expected. For each of the following costs, indicate how it is normally recognized as expense by indicating either (a), (b), or (c). If you think that more than one answer is possible for any of the situations, explain why. 1. New office copier2. Monthly bill from the utility company for electricity3. Office supplies4. Biweekly payroll for office employees5. Commissions earned by salespeople6. Interest incurred on a six-month loan from the bank7. Cost of inventory sold during the current period8. Taxes owed on income earned during current period9. Cost of three-year insurance policy
Answer:
1. B
2. C
3. C
4. B
5. A
6. B
7. A
8. C
9. B
Explanation:
1. B
2. B/C This is Expense for the inflows of the current month but this will be treated as an expense and charged in the current month.
3. C
4. B
5. A
6. B
7. A
8. B/C This is also expense for the current month causing inflows in the month, but will be treated as an expense in the current month.
9. B
calculate how much credit created by commercial bank when there is a deposit of 80000, reserve requirement is 8% and withdrawl is 35%?
Answer:
Amount of credit created by commercial bank = 47,840
Explanation:
Given:
Total deposit in bank = 80,000
Reserve requirement = 8%
Withdrawal = 35%
Find:
Amount of credit created by commercial bank
Computation:
Amount available for withdrawal = Total deposit in bank[1 - Reserve requirement]
Amount available for withdrawal = [80,000][1-8%]
Amount available for withdrawal = 73,600
Amount of withdrawal = Amount available for withdrawal[35%]
Amount of withdrawal = 73,600[35%]
Amount of withdrawal = 25,760
Amount of credit created by commercial bank = 73,600 - 25,760
Amount of credit created by commercial bank = 47,840
Keating Co. is considering disposing of equipment with a cost of $63,000 and accumulated depreciation of $44,100. Keating Co. can sell the equipment through a broker for $26,000 less 8% commission. Alternatively, Gunner Co. has offered to lease the equipment for five years for a total of $47,000. Keating will incur repair, insurance, and property tax expenses estimated at $10,000 over the five-year period. At lease-end, the equipment is expected to have no residual value. The net differential income from the lease alternative is
Answer:
$11,080
Explanation:
Calculation to determine what The net differential income from the lease alternative is
Using this formula
Equipment leased net differential income = Lease amount - Estimated expenses - Net sale of equipment
Let plug in the formula
Equipment leased net differential income= $47,000-$10,000-[$26,000-($26,000*8%)]
Equipment leased net differential income=$47,000-$10,000-($26,000-$2,080)
Equipment leased net differential income=$47,000-$12,000-$23,920
Equipment leased net differential income=$47,000-$35,920
Equipment leased net differential income=$11,080
Therefore The net differential income from the lease alternative is $11,080
Suppose you are buying your first condo for $250,000, and you will make a $30,000 down payment. You will finance the remainder with a 30-year, monthly payment, amortized mortgage at a 6% nominal interest rate, with the first payment due in one month. What will your monthly payments be
Answer:
The monthly payments will be
= $1,319.01.
Explanation:
a) Data and Calculations;
Cost of the first condo = $250,000
Down payment = $30,000
Principal loan amount = $220,000 ($250,000 - $30,000)
Period of monthly payments = 30 years or 360 months
Nominal interest rate = 6%
N (# of periods) 360
I/Y (Interest per year) 6
PV (Present Value) 220000
FV (Future Value) 0
Results
PMT = $1,319.01
Sum of all periodic payments $474,844.02
Total Interest $254,844.02
what is the major source of competition for motor carrier?
Answer: The major source of competition for motor carrier is intermodal in nature.
The major source competition for motor carriers is railroad. This is because rail system is quicker than motor carriers and has been used widely. Railroads do not cover all geographical zones but they have been a trend in several regions.
Explanation:
John invested $10,000 into a money market account and took out $2,000 at the end of year 1. He found out at the end of 7 years that the rest of the money in the account grew to a sum of $29,860. What is the annual interest rate John earned in this investment
Answer: 20%
Explanation:
The annual interest rate that John earned in this investment will be calculated thus:
At the annual interest rate, the money that's invested will be equal to the money that's earned. Therefore,
10000 = 2000/[1+20%]¹ + 29860/[1+20%]^7
10000 = 2000/(1+0.2)¹ + 29860/(1+0.2)^7
10000 = 1666.67 + 8333.33
10000 = 10000
Therefore, the annual interest rate John earned in this investment is 20%.
Crane Company is contemplating the replacement of an old machine with a new one. The following information has been gathered: Old Machine New Machine Price $200000 $400000 Accumulated Depreciation 60000 -0- Remaining useful life 10 years -0- Useful life -0- 10 years Annual operating costs $160000 $120000 If the old machine is replaced, it can be sold for $14000. The company uses straight-line depreciation with a zero salvage value for all of its assets. The net advantage (disadvantage) of replacing the old machine is
Answer:
Crane Company
The net advantage of replacing the old machine is:
= $154,000
Explanation:
a) Data and Calculations:
Old Machine New Machine
Price $200,000 $400,000
Accumulated Depreciation 60,000 -0-
Remaining useful life 10 years -0-
Useful life -0- 10 years
Annual operating costs $160,000 $120,000
Relevant costs:
Old Machine New Machine
Annual operating costs $160,000 $120,000
Total annual operating costs 1,600,000 1,200,000 ($120,000 * 10)
Relevant cost Price 140,000 400,000
Sales value of old machine (14,000)
Total costs $1,740,000 $1,586,000
The net advantage of replacing the old machine is $154,000 ($1,740,000 - $1,586,000)
A portfolio is entirely invested into BBB stock, which is expected to return 16.4 percent, and ZI bonds, which are expected to return 8.6 percent. Stock BBB comprises 48 percent of the portfolio. What is the expected return on the portfolio
Answer:
the expected return on the portfolio is 12.34%
Explanation:
The computation of the expected return on the portfolio is shown below:
Expected Return is
= Investment in BBB × Return+ Investment in ZI × Return
= 16.4 × 48% + 8.6 ×52%
= 7.87% + 4.47%
= 12.34%
hence, the expected return on the portfolio is 12.34%
g has 25,000 shares of $10 par common stock outstanding and 12,500 shares of $100 par, 6.00% cumulative, nonparticipating preferred stock outstanding. Dividends have not been paid for the past two years. This year, a $350,000 dividend will be paid. What are the dividends per share payable to preferred and common, respectively
Answer:
Preferred stock dividend in arrears = (12500 shares * $100 par * 6%) * 2 years
Preferred stock dividend in arrears = $150,000
Dividend paid this year = $350,000.
Dividend paid to Preferred stockholders = $150,000 in arrears + $75,000 current period = $225,000.
Dividend paid to Common Stockholders = $350,000 - $225,000 = $125,000.
Dividend per share of preferred stock = $225,000 / 12500 shares
Dividend per share of preferred stock = $18
Dividend per share of common stock = $125,000 / 25000 shares
Dividend per share of common stock = $5
The relationships between the dependent variables and the independent variables used in causal forecasting methods are described by two measures. What following best describes these measures?
Answer:
Coefficient of Chaos and Coefficient of Exponential smoothing.
Explanation:
Coefficient of exponential smoothing is the measure to smoothly run the timeseries data without using moving average data. It helps the identification of relationship between dependent and independent variables. It is same as regression model technique which determines the extent of dependence of the two variables.
1. A company purchased the following units of an inventory during the year:
Beginning inventory 10 units at $55
First purchase 25 units at $60
Second purchase 30 units at $65
Third purchase 15 units at $70
They use the periodic inventory system. During the year, 50 units of the item were sold. Using FIFO, the value of ending inventory is which of the following?
a. $1,350.
b. $1,150.
c. $1,375.
d. $1,250.
Answer:
$2,025
Explanation:
The computation of the value of the ending inventory is shown below:
But before that first we have to calculate the ending inventory units which is
= Beginning inventory + first purchase units + second purchase units + third purchase units - sold units
= 10 units + 25 units + 30 units + 15 units - 50 units
= 30 units
Now the ending inventory is
= 15 units × $70 + 15 units × $65
= $1,050 + $975
= $2,025
A management decision may be beneficial for a given profit center, but not for the entire company. From the overall company viewpoint, this decision would lead to
Answer:
A management decision may be beneficial for a given profit center, but not for the entire company. From the overall company viewpoint, this decision would lead to:
Sub-optimization.
Explanation:
Suboptimization describes a situation whereby changes effected in a unit of an organization improves the specific component without benefiting the whole organization. It is a common policy mistake that management makes when it uses its success in a department or division to apply the same techniques in a different division without achieving similar results. This implies that management may focus on one component of its organization and make improvements in that one component while the effects on the other components are ignored. Simply, it means optimizing the results of a unit rather than the results of the whole organization.
Ano ang dapat nating tandaan kapag nagbibigay ng pangunang lunas?
During year 8, Clark Company manufactured equipment for its own use at a total cost of $2,400,000. The project required the entire year to complete and all costs were incurred uniformly throughout the year. At the beginning of the period, Clark was able to borrow $1,500,000 at 6% specifically for the purchase of materials and the manufacture of the equipment. The entire debt, with interest was repaid on December 31, year 8, replaced with a long-term loan. Throughout year 8, Clark Company had additional debt of $1,000,000 with a weighted average interest rate of 7%. If Clark Company capitalizes the maximum amount of interest allowable under GAAP, how much will Clark report as interest expense in year 8
Answer:
$88,000
Explanation:
Calculation to determine how much will Clark report as interest expense in year 8
First step is to calculate the total interest expense for the year
Total interest expense = ($1,500,000 x 6%) + ($1,000,000 x 7%)
Total interest expense = $90,000 + $70,000
Total interest expense=$160,000
Second step is to calculate the weighted average costs
Weighted average costs = $2,400,000 / 2
Weighted average costs= $1,200,000
Third step is to calculate the capitalize interests
Capitalize interests =$1,200,000 x 6%
Capitalize interests= $72,000
Now let calculate the interest expense in year 8 using this formula
Year 8 Interest expense=Total interests - Capitalized interests
Let plug in the formula
Year 8 Interest expense= $160,000 - $72,000
Year 8 Interest expense= $88,000
Therefore The amount that Clark will report as interest expense in year 8 is $88,000