Inflation is defined as a rise in the general price level. Inflation, on the other hand, affects people differently depending on their economic situation.
Here is how inflation helps and hurts each of the individuals in the situations given:
Jack retired five years ago and now lives on a fixed-income annuity and a small savings account that pays him 1% interest on the balance. The current inflation rate is Inflation harms Jack since he is a fixed-income earner. The money he gets each month from his annuity is the same, but its worth decreases as inflation rises.
Jack's $1,000 may have been able to buy him a month's worth of food, but with 3% inflation, he can only buy a week's worth of food. Jack's cash in his savings account also has a lower value as inflation rises. As a result, if inflation rises while his money is in the bank, he may lose money by keeping it there.
Jill has worked at her current position without a raise for 4 years. Because inflation has risen 5% over the course of the 4 years, she has struggled to pay day-to-day living expenses and her house payment. She asked her employer for a raise and he gave her a 6% raise because she is such a good worker.Inflation helps Jill because she receives a pay raise. Jill was able to make a strong argument to her employer for a raise due to her excellent work. In the end, Jill's employer gave her a 6% raise, which was enough to keep up with inflation and possibly enhance her standard of living.
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Describe only 02 different types of identity thefts with the help of an example for each one of them and also explain what security measurements can an organization take to minimize them.
Identity theft refers to the act of stealing someone's personal information, such as their name, social security number, or credit card information, and using it for fraudulent purposes. It can result in financial loss, damage to credit score, and emotional distress.
It is the crime of stealing personal information from another individual without their knowledge or consent. It is a common problem that is becoming increasingly prevalent in today's world.
Here are two different types of identity theft with examples of each and security measures that organizations can take to minimize the risk of them.
1. Phishing
Phishing is a common type of identity theft that involves tricking individuals into providing their personal information through fraudulent emails or websites.
2. Dumpster Diving
Dumpster diving is a type of identity theft that involves searching through someone's trash to find personal information. For example, a person may throw away a credit card statement or a bank statement without shredding it first. An identity thief may then retrieve the statement from the trash and use the information on it to steal the victim's identity.
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Tanner and Teresa share income and losses in a 2:1 ratio (2/3 to Tanner and 1/3 to Teresa) after allowing for salaries of $45,000 to Tanner and $64,200 to Teresa. Net income of the partnership is $131,400. How should income be divided for Tanner and Teresa? Oa. Tanner, $54,800; Teresa, $76,600 Ob. Tanner, $76,600; Teresa, $54,800 Oc. Tanner, $55,800, Teresa, $75,600 Od. Tanner, $59,800, Teresa, $71,600
The answer is: Tanner, $76,600; Teresa, $54,800
Tanner's share is $87600, and Teresa's share is $43800 after deducting both salaries from the net income of the partnership. Because Tanner's share is 2/3 and Teresa's share is 1/3, it is clear that 2 parts represent Tanner, and 1 part represents Teresa. Let x be the share of one part. 2x + x = 131400 - 109200, according to the partnership agreement. 3x = 22200 x = $7400 Tanner's share is 2x = $14800, and Teresa's share is x = $7400. Subtract each salary from each share to obtain the final amounts. Tanner gets $76,600 ($14800 - $45000), and Teresa gets $54,800 ($7400 - $64200). Shares are fractional ownership interests in a corporation. For some businesses, shares are a type of financial instrument that allows for the equitable distribution of any declared residual profits in the form of dividends. A stock with no dividend payments does not distribute its income to its shareholders. Instead, they look forward to further stock price growth as business profits rise.
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A company purchased a patent for $1,425,000. The useful life is expected to last 20 years. The journal entry to record the amortization expense for the first year includes: OA. A debit to accumulated
The journal entry to record the first-year amortization expense for the purchased patent includes a debit to accumulated amortization for $71,250.
When a company purchases a patent for $1,425,000 with a useful life of 20 years, the journal entry to record the amortization expense for the first year includes a debit to accumulated amortization for $71,250. The cost of the patent is allocated over its useful life, and for the first year, the amortization expense is calculated as $71,250. The journal entry would be recorded as a debit to Amortization Expense for $71,250 and a credit to Accumulated Amortization for the same amount. This entry reflects the systematic allocation of the patent's cost over its expected useful life.In conclusion, to record the amortization expense for the first year of a purchased patent, the journal entry includes a debit of $71,250 to accumulated amortization.
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QUESTION 1 Despite the ample merits of regressive tax system, many scholars opined that such a tax system is not the best for a low middle income country like Ghana. As a tax law student, do you agree with this statement and why?
As a law student studying tax law, I concur that a regressive tax system is not ideal for a low to middle-income country like Ghana.
A regressive tax system is one where people with lower incomes pay a higher percentage of their income in taxes compared to those with higher incomes.
Scholars argue that such a tax system is not ideal for a low to middle-income country like Ghana. As a tax law student, I agree with this statement.Lower-income individuals in Ghana are already struggling to make ends meet, and taxing them more heavily would only exacerbate this situation.
Regressive taxation, in this context, will negatively impact the poor in the country. The government could use alternative tax systems such as a progressive tax system that would require high-income earners to pay a higher percentage of their income in taxes.
This would allow for more equitable distribution of the tax burden, with the wealthy paying more in taxes and the poor paying less.
A regressive tax system may generate revenue quickly, but the adverse effects on lower-income individuals, who are already struggling to make ends meet, should not be overlooked. Therefore, it's imperative that Ghana move towards a more progressive tax system to reduce the burden on low-income earners. I
n conclusion, as a law student studying tax law, I concur that a regressive tax system is not ideal for a low to middle-income country like Ghana.
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Suppose a duopoly in a market for homogeneous goods. The market demand and costs of the two firms, A and B, are given by: P = 144 50 Qt where Qt Qa + Qb
CTA = 47+ 26 Qa
CTb = 47+ 26 Qb
Assuming that the two companies announce a merger, and that there are no synergies or cost reductions with the transaction. What will be the market price after the merger?
In a homogeneous goods market , if two companies announce a merger and that there are no synergies or cost reductions with the transaction than market price will remain same as before the merger.
To determine the market price after the merger, we need to find the equilibrium quantity and then substitute it into the demand function.
The total quantity in the market after the merger will be the sum of the quantities produced by firm A (Qa) and firm B (Qb). Since there are no cost reductions or synergies, the total quantity will remain the same as before the merger.
Given that Qt = Qa + Qb, we can rewrite the demand function as P = 144 - 50Qt.
To find the equilibrium quantity, we set the quantity demanded equal to the quantity supplied. So, Qt = Qa + Qb.
Now, let's substitute the value of Qt into the demand function:
P = 144 - 50(Qt)
P = 144 - 50(Qa + Qb)
Since the total quantity (Qt) remains the same after the merger, the market price (P) will also remain the same as before the merger.
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EXPLAIN how HRM has taken on the
characteristics of a profession
HRM (Human Resource Management) has taken on the characteristics of a profession through the development of specialized knowledge, the establishment of professional associations and certifications, and the adoption of ethical standards and codes of conduct.
Over the years, HRM has evolved into a distinct field of study with its own body of knowledge and theories. Professionals in HRM have access to specialized education and training programs that equip them with the necessary skills and expertise to effectively manage human resources within organizations. This specialized knowledge enables HR professionals to provide strategic guidance and make informed decisions that contribute to organizational success.
Professional associations, such as the Society for Human Resource Management (SHRM) and the Chartered Institute of Personnel and Development (CIPD), have been established to promote the HR profession and provide resources, networking opportunities, and professional development to HR practitioners. These associations play a crucial role in setting standards, conducting research, and advocating for the profession.
Moreover, the establishment of certifications, such as the SHRM Certified Professional (SHRM-CP) and the CIPD qualifications, further solidify HRM as a profession. These certifications validate the competency and expertise of HR professionals, ensuring they meet recognized standards of practice.
Ethical standards and codes of conduct have also been developed to guide HR professionals in their interactions with employees, stakeholders, and organizations. Adhering to these ethical principles helps maintain professionalism, integrity, and trust within the HRM profession.
Overall, the presence of specialized knowledge, professional associations, certifications, and ethical standards demonstrates that HRM has taken on the characteristics of a recognized profession.
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Measu Al Basel and Ziad are sharing income and loss in a 43.2 rato respectively and decided to partners A has a capital balance of $30,000), Basel has a capital balance of $72,000, and Ziad has a capi
Ziad's capital balance is approximately $1,666.67.
Measu, Al Basel, and Ziad are partners in a business and have agreed to share income and losses in a ratio of 43.2:1 respectively. Additionally, the capital balances of the partners are as follows: Partner A has a capital balance of $30,000, Basel has a capital balance of $72,000, and Ziad's capital balance is not mentioned in the question.
To calculate Ziad's capital balance, we need to determine the proportion of capital he contributes to the partnership. Since the ratio of income and loss sharing is given as 43.2:1, we can consider this as the ratio of their capital contributions as well.
Let's assume Ziad's capital contribution is represented by 'C.' Since Basel's capital balance is $72,000, and the ratio between Basel and Ziad is 43.2:1, we can set up the following equation:
Basel's Capital Balance / Ziad's Capital Balance = 43.2 / 1
$72,000 / C = 43.2 / 1
Cross-multiplying, we get:
$72,000 * 1 = 43.2 * C
$72,000 = 43.2C
Dividing both sides by 43.2:
$72,000 / 43.2 = C
C ≈ $1,666.67
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Discuss how prospect theory has a role in the explanation of the house money effect
Prospect theory is a behavioral economic theory that attempts to explain how people make decisions when faced with uncertainty. This theory has a significant role in the explanation of the house money effect. The house money effect is a phenomenon in which people tend to be more willing to take risks when they perceive that they are playing with "found money," such as winnings from a casino or a bonus from work.
Prospect theory suggests that people's decision-making is influenced by the way that choices are framed and presented to them. According to this theory, people tend to weigh losses more heavily than gains when making decisions. This is known as loss aversion. As a result, people may be more willing to take risks when they perceive that they have nothing to lose, such as when they are playing with house money.
The house money effect can also be explained by the endowment effect, which is another principle of prospect theory. The endowment effect is the tendency for people to value things more highly when they own them. When people perceive that they have "won" some money, they may feel a sense of ownership over it, which can make them more willing to take risks with it.
Overall, prospect theory provides a useful framework for understanding the house money effect. By showing how people's decision-making is influenced by the framing and presentation of choices, this theory helps to explain why people may be more willing to take risks with money that they perceive as "found." This is important for policymakers and marketers to understand, as it suggests that people's behavior can be influenced by how choices are presented to them.
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1. If Saudi Arabia had negative net exports last year, then it bought more abroad than it sold abroad and had a trade deficit.
2. A reduction in the money supply is likely to decrease the interest rate.
3. Net capital outflow (NCO) is defined as domestic residents' purchases of foreign assets minus foreigners' purchases of domestic assets
4. Trade deficit occurs when there is an excess of exports over imports.
5. The current, financial, and capital accounts of a country are linked by a very important relationship such that the sum of the balances of these three accounts must add them all up, equal zero.
6. In the balance of payment (BOP) account system, any action that gives rise to a demand for foreign currency is a surplus item.
7. Nominal exchange rate is defined as the rate at which one country's currency trades for another.
8. Devaluation means that the government intervention to increase the value of the Saudi Riyal.
9. Inflows - payments from foreigners to Saudi citizens. (Suppose your uncle in Egypt sends you a check.)
10. Appreciation is defined as a decrease in the value of a currency as measured by the amount of foreign currency it can buy.
1. Negative net exports:
Negative net exports occur when a country's imports exceed exports. When a nation has a negative net export balance, it implies that it is purchasing more foreign goods and services than it is selling to other nations. It indicates a trade deficit since the value of imports exceeds the value of exports.
2. Money supply and interest rate:
When the money supply is reduced, it causes a decrease in the supply of loanable funds in the economy. A decrease in the supply of loanable funds causes an increase in the interest rate, making borrowing more expensive and leading to a reduction in consumption and investment spending.
3. Net Capital Outflow:
The difference between foreign purchases of domestic assets and domestic residents' purchases of foreign assets is known as net capital outflow (NCO). It can be negative, implying that domestic residents are purchasing foreign assets in excess of foreigners purchasing domestic assets.
4. Trade Deficit:
A trade deficit occurs when the value of imports exceeds the value of exports. It indicates that more goods and services are being imported than exported.
5. Relationship between Current, Financial and Capital Accounts:
The current account, capital account, and financial account are the three accounts that make up the balance of payments. The balances of these three accounts must add up to zero because of the fundamental economic concept that every transaction must have two sides.
6. Surplus items in BOP:
Any activity that results in a demand for foreign currency, such as tourism or foreign investment, is a surplus item in the BOP account.
7. Nominal exchange rate:
The exchange rate at which one country's currency may be traded for another is known as the nominal exchange rate.
8. Devaluation:
A reduction in the worth of a currency by the government or central bank is known as devaluation. It occurs when the government or central bank actively intervenes in the foreign exchange market to lower the value of the domestic currency.
9. Inflows:
Inflows refer to payments from foreign sources to domestic residents. Inflows might include payments such as remittances or investment funds.
10. Appreciation:
An increase in the value of a currency relative to foreign currency is referred to as appreciation. It is quantified by the amount of foreign currency that may be purchased with the domestic currency.
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The Acmeville Metropolitan Bus Service currently charges $0.99 for an all-day ticket, and has an average of 588 riders a day. The bus company is not earning a profit, but according to their contract with the city, they cannot cut the number of buses on the road. They must therefore find a way to increase revenues. The bus company is considering increasing the ticket price to $ 1.1 . The marketing department's studies indicate this price increase would reduce usage to 337 riders per day. Calculate the absolute value of the price elasticity of demand for bus tickets using the simple percentage change method. Round your answer to one decimal place.
Answer:
-3.88 or 3.88
Explanation:
Calculation to determine the absolute value of the price elasticity of demand
Using this formula
Price elasticity of Demand = % change in quantity demanded / % change in price
Price elasticity of Demand =%∆QD / %∆P
Let plug in the formula
Price elasticity of Demand= (( 337 - 588 )/( 1.1- 0.99)) * ( 0.99 / 588 )
Price elasticity of Demand= (-251 / 0.11) * ( 0.0017)
Price elasticity of Demand= -22,81.8181 * 0.0017
Price elasticity of Demand= -3.88 or 3.88 ( absolute value)
Therefore the absolute value of the price elasticity of demand will be -3.88 or 3.88
There are three sets of financial securities that impacted the LTCM portfolio? Name the three sets of securities (really five definitions) and briefly define each.
The three sets of financial securities that impacted the LTCM portfolio are: government bonds, interest rate swaps and currency forwards.
Each financial security set impacted the LTCM portfolio in a different way and all were related to the hedge fund's investment strategy. Government bonds, for instance, were used by LTCM to leverage their bets. Interest rate swaps were used to take advantage of the differences in interest rates of two different countries, and currency forwards were used to speculate on the direction of currency movements. Overall, the use of these financial securities played a significant role in the eventual downfall of LTCM, highlighting the risks involved in hedge fund investing.
The fund's trading strategy was to make convergence trades, which take advantage of opportunities for arbitrage between securities. At the time of the trade, these securities must be priced incorrectly in relation to one another for success.
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The sequential service constraint feature in a deposit contract implies that
a. the amount that the bank pays to a withdrawing depositor depends on what was promised by the bank and on their place in the queue of depositors wishing to withdraw.
b. the amount that the bank pays to a withdrawing depositor depends only on what the bank promised.
c. the amount that the bank pays to a withdrawing depositor depends on what was promised by the bank and how long the queue of withdrawing depositors is.
d. the amount that the bank pays to a withdrawing depositor depends only on how much money the bank has at the time.
The sequential service constraint feature in a deposit contract implies that the amount that the bank pays to a withdrawing depositor depends on the order in which the customers make their withdrawals.
In a sequential service constraint, the bank pays customers in the order in which they present themselves, from the oldest to the youngest. Customers can only withdraw funds after their previous transactions have been completed, and the bank can only lend funds after all previous transactions have been completed.
This implies that the amount that the bank pays to a withdrawing depositor depends on the order in which the customers make their withdrawals. It means that customers who make withdrawals earlier will be paid first, and the customers who make withdrawals later will have to wait until the earlier transactions have been completed.
In a sequential service constraint, if there is insufficient money in the bank, some customers may be unable to withdraw their deposits, even if they present themselves in the right order. The bank must, therefore, ensure that there is enough money in the bank to meet the demand from all customers.
If the bank cannot meet the demand, it may need to borrow funds from other banks or from the central bank to satisfy its obligations to its depositors. In conclusion, the sequential service constraint feature in a deposit contract implies that the amount that the bank pays to a withdrawing depositor depends on the order in which the customers make their withdrawals.
This means that the bank pays customers in the order in which they present themselves, from the oldest to the youngest.
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Furniture, Inc., estimates the following number of mattress sales for the first four months of 2020:
Month Sales
January 10,000
February 14,000
March 13,000
April 16,000
Finished goods inventory at the end of December is 3,000 units. Target ending finished goods inventory is 30% of the next month's sales. How many mattresses need to be produced in January 2020?
The number of mattresses produced in January 2020 is 1,200.
To determine the number of mattresses to be produced in January 2020, we need to consider the target ending inventory of finished goods and the next month's sales forecast.
Given:
Finished product inventory at the end of December = 3,000 units
Target ending inventory of finished goods (as a percentage of next month's sales) = 30D
44 Let's calculate the target ending inventory of finished goods for each month based on the forecasted sales.
January:
Target ending inventory of finished goods = 30% of February sales = 0.30 * 14,000 = 4,200 pieces
February:
Target ending inventory of finished goods = 30% of March sales = 0.30 * 13,000 = 3,900 pieces
march:
Target ending inventory of finished goods = 30% of April sales = 0.30 * 16,000 = 4,800 pieces
April:
Target ending inventory of finished goods = 30% of May sales (not shown)
To calculate the number of mattresses produced in January 2020, we need to consider the change in finished goods inventory from December to January.
Completed inventory change = Target completed inventory Ending inventory - End of December completed inventory
Completed inventory changes = 4,200 - 3,000 = 1,200 units
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A new product costs $.84 each to manufacture and 5.52 each to market. If 50,000 will be sold, what must the price of each product be to provide a profit of 15 percent of the price? O $1.48 O $51.60 O $1.86 O S1.36 O $1.75
The price of each product must be $1.86 to provide a profit of 15 percent of the price.
To calculate the price of each product, we need to consider the manufacturing cost, marketing cost, and the desired profit margin.
Given:
Manufacturing cost = $0.84
Marketing cost = $5.52
Quantity sold = 50,000
Desired profit margin = 15% of the price
Let's assume the price of each product is P.
Total cost = (manufacturing cost + marketing cost) * Quantity sold
Total cost = ($0.84 + $5.52) * 50,000
Total cost = $6.36 * 50,000
Total cost = $318,000
Profit = Price - Total cost
Profit = 0.15 * Price
Setting the profit equal to the desired profit margin:
0.15 * Price = Profit
0.15 * Price = 0.15 * Price
0.15 * P = P - $318,000
0.15P = P - $318,000
0.85P = $318,000
P = $318,000 / 0.85
P ≈ $374,117.65
Therefore, the price of each product must be approximately $1.86 to provide a profit of 15 percent of the price.
To achieve a profit of 15 percent of the price, the price of each product should be set at $1.86.
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During which of the following situations would the government most likely engage in contractionary fiscal policy?
a. When the nation is experiencing high inflation
b. When the nation is experiencing high unemployment
c. When the nation is experiencing high real GDP growth without significant inflation
d. Both a and b
The answer is a. When the nation is experiencing high inflation, the government most likely engage in contractionary fiscal policy
Contractionary fiscal policy refers to government measures aimed at reducing aggregate demand in the economy to combat inflationary pressures. Inflation occurs when there is a sustained increase in the general price level of goods and services. When the nation is experiencing high inflation, the government is likely to engage in contractionary fiscal policy to curb excessive spending and reduce the overall demand for goods and services.
By implementing measures such as reducing government spending, increasing taxes, or decreasing transfer payments, the government aims to reduce the amount of money in circulation and limit the purchasing power of consumers. These actions help to decrease aggregate demand and cool down the economy, thereby controlling inflationary pressures.
Option b, which refers to high unemployment, is more closely associated with expansionary fiscal policy. In such situations, the government typically implements measures to stimulate economic activity, increase aggregate demand, and reduce unemployment rates. Therefore, the most likely situation for the government to engage in contractionary fiscal policy is when the nation is experiencing high inflation (option a).
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Which of the following credit ratings by Agencies is considered "investment grade"? OB1 OBB+ O Bal OBBB- O None of the above are considered investment grade
Among the given credit ratings by Agencies, OBBB- is considered "investment grade". Option D) OBBB- is the correct option.
The credit rating agencies are independent bodies that provide a credit rating to governments and companies that issue bonds or debt. They assess their creditworthiness based on their financial conditions, management quality, market position, and other factors. Credit ratings measure the ability of issuers to repay their debts.
Investment-grade is a rating that signifies that the issuer's financial strength is sound enough to repay the bonds on time. Generally, credit ratings above BBB- are considered investment grade, while those below are considered high yield, or junk. Hence, D) OBBB- is regarded as "investment grade".
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Consider the table of marginal costs of producing t-shirts in a perfectly competitive market below. If the market price is equal to $10, what is the profit maximizing number of t-shirts to produce and
The profit-maximizing number of t-shirts to produce in a perfectly competitive market where the market price is equal to $10 is 100 units.
In a perfectly competitive market, firms are price takers, which means that they do not have the ability to affect the market price of their goods. Thus, in order to maximize profits, they must produce at the quantity at which marginal cost equals marginal revenue, which is the market price in this case. By looking at the table of marginal costs, we can see that at a production level of 100 units, the marginal cost is equal to $10, which is equal to the market price. At any higher production level, the marginal cost is greater than the market price, which would result in negative profits. Therefore, the profit maximizing number of t-shirts to produce is 100 units.
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2 7.5 points eBook References On April 6, Year 1, Home Furnishings purchased $37,000 of merchandise from Una Imports, terms 2/10 n/45. On April 8, Home returned $7,800 of the merchandise to Una Imports, Home paid cash for the merchandise on April 15, Year 1 Required a. What is the amount that Home must pay Una Imports on April 157 b. Record the events in a horizontal financial statements model c. How much must Home pay for the merchandise purchased if the payment is not made until April 20, Year 17 d. Record the payment in Requirement c in a horizontal financial statements model. Complete this question by entering your answers in the tabs below. Required A Required S Required C Required D What is the amount that Home must pay Una Imports on April 157 Net amount due Required >
The amount that Home must pay Una Imports on April 15, Year 1, is $36,260.
The calculation of the net amount due is shown below:
Total merchandise cost = $37,000
Less: Return of merchandise on April 8, Year 1 = $7,800
Net merchandise cost = $29,200
Discount = 2% of $29,200 = $584
Net amount due = $29,200 - $584 = $28,616.
Home Furnishings purchased $37,000 of merchandise from Una Imports on April 6, Year 1, with terms of 2/10 n/45.
On April 8, Home Furnishings returned $7,800 of the merchandise to Una Imports.
Therefore, the net merchandise cost was $29,200.
This means that a discount of 2% ($584) is offered to Home Furnishings if they pay within ten days (i.e., by April 16).
If Home Furnishings does not pay within ten days, they must pay the net amount ($28,616) within 45 days (i.e., by May 30).
Thus, if Home Furnishings pays on April 15, they are within the discount period, and their net amount due is $28,616.
On April 15, Year 1, Home Furnishings must pay Una Imports $28,616.
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Describe Marbury v. Madison. Why was it significant? (no
less than 300 words).
Marbury v. Madison is an important case that took place in the Supreme Court of the United States in 1803. It was a lawsuit between William Marbury and James Madison, where Marbury, a Federalist, was appointed to be a justice of the peace for the District of Columbia by President John Adams before leaving office.
His appointment was not delivered before the new President, Thomas Jefferson took office, and the new Secretary of State, James Madison, refused to deliver it. Marbury then sued Madison in the Supreme Court, asking for a writ of mandamus to require Madison to deliver the appointment. Although Marbury lost his case, the case established the principle of judicial review, which gave the Supreme Court the power to declare acts of Congress unconstitutional. This principle has been an essential aspect of the American legal system since then, and it has been used in many important cases throughout the country's history.
The significance of Marbury v. Madison is that it established the principle of judicial review, which gave the Supreme Court the power to declare acts of Congress unconstitutional. This power was not granted explicitly to the Supreme Court in the Constitution but was instead established through the Court's interpretation of the Constitution. The decision in Marbury v. Madison was also significant because it was the first time that the Supreme Court had declared an act of Congress unconstitutional, and it established the Supreme Court as the final arbiter of the Constitution's meaning. The principle of judicial review has been used in many important cases throughout American history, such as Brown v. Board of Education, Roe v. Wade, and United States v. Nixon.
Overall, Marbury v. Madison was a crucial case in the history of the United States because it established the principle of judicial review, which gave the Supreme Court the power to declare acts of Congress unconstitutional. This power has been used in many important cases throughout American history and has been instrumental in shaping the country's legal system. Although Marbury did not win his case, his lawsuit had a significant impact on the development of American law and the role of the Supreme Court in American politics.
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A forward contract exists for a unit of two-year government securities with delivery to take place three years from now. Suppose the price of these securities three years from now is uniformly distributed from a low $800 to a high of $1,400. The one-year expected riskless rate of interest is 5 percent for all periods under consideration.
1. If investors are risk neutral, what should be the current forward price?
2. Suppose now that investors are risk averse and that the forward price is $1,200. What do you know about the relationship between the market value of two-year government securities and overall consumption?
3. Continue to assume (as in (2)) that the current forward price (at time 0) is $1,200. One year from now (at time 1) the forward price for the same item and same delivery date is $1,000. Determine the time 1 value (to the buyer) of the contract that was agreed upon at time 0.
The current forward price (P0) is calculated by the following formula:
P0 = (E[P3]/(1 + rf )^3)
where E[P3] is the expected value of the price of the two-year government security at the delivery date. Since the price of the two-year government security three years from now is uniformly distributed between $800 and $1,400, its expected value is
E[P3] = (800 + 1400)
2 = $1,100.
The risk-free interest rate for all periods under consideration is 5%, so
P0 = ($1,100)/(1.05)^
3= $915.17
The risk-averse investors' acceptance of the forward price of $1,200 for two-year government securities with delivery in three years indicates that they prefer the certainty of the known price today to the uncertainty of the unknown future price of government securities. This also means that the price of the two-year government security is greater than the expected discounted value of the delivery price; that is,
S2 > (E[S3]/(1 + rf )^3),
where S is the price of a security.
The consumer has a greater preference for current consumption than for future consumption. 3. Let us presume that the initial contract was for $1,200 at time 0 and that the forward price one year later was $1,000. According to the contract, the buyer of the contract is obligated to purchase the security at the delivery date for $1,200. The value of the forward contract one year later to the buyer is equal to the difference between the forward price at that time and the price that was agreed upon in the initial contract.
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in her job, ira makes many choices and decisions throughout the workday. research suggests that such a job would promote certain _____ personality changes in her.
In her job, Ira making many choices and decisions throughout the workday would promote certain adaptive personality changes in her.
Research suggests that certain types of jobs can have an impact on an individual's personality traits. In the case of Ira, who regularly makes choices and decisions in her job, this kind of work would likely promote adaptive personality changes.
Jobs that involve decision-making and frequent choices can contribute to the development of several positive personality traits. These traits may include:
Increased conscientiousness: Consistently making choices and decisions requires a certain level of responsibility and organization. Over time, Ira may develop a greater sense of conscientiousness, which is characterized by being diligent, reliable, and focused on achieving goals.
Improved emotional stability: Jobs involving decision-making often require managing stress and handling unexpected situations. This can lead to increased emotional stability, enabling Ira to remain calm, composed, and resilient in the face of challenges.
Enhanced confidence: Regularly making choices and decisions can build self-confidence. As Ira gains experience and expertise in her job, she is likely to develop a greater belief in her abilities, leading to increased confidence in her decision-making skills.
In summary, the nature of Ira's job, which involves making choices and decisions throughout the workday, is likely to promote adaptive personality changes. These changes may include increased conscientiousness, improved emotional stability, and enhanced confidence. Engaging in decision-making tasks can contribute positively to an individual's personal and professional growth, fostering the development of valuable traits that can benefit Ira in her job and beyond.
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Which of the following is the most suitable for measuring the level of non-material well-being of society?
a. Average annual salary
b. GDP per capita
c. Annual free time
d. Housing prices
e. Average consumption per day
The most suitable option for measuring the level of non-material well-being of society is annual free time.
Non-material well-being refers to the quality of life. Material well-being represents the physical things, possessions, and money that make life comfortable, while non-material well-being includes intangible factors such as personal satisfaction, job security, and work-life balance.
In this regard, annual free time can be the best measure of non-material well-being. It is the time a person has for himself and his family. This time can be used to pursue hobbies, travel, or spend time with loved ones. The more time a person has, the more he can enjoy life.
Average annual salary is a measure of material well-being, while GDP per capita, average consumption per day, and housing prices are indicators of economic progress and standard of living. Therefore, among the given options, annual free time is the most suitable option for measuring the level of non-material well-being of society.
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Simion wants to have $500,000 in an investment account 6 years from now. The account will pay 6.96 percent annually If he saves money every month, starting one month from now, how much will he have to save each month to reach his goal? A) $5,614.90 B) $6,049.86 C) $5,391.05 D) $5,053.86 E) $5,360.94
The amount of money that Simion has to save per month to accumulate $500,000 in 6 years is $5,391.05.
To reach a goal of $500,000 in an investment account in 6 years time, Simion wants to know how much he has to save per month, if the account pays 6.96 percent annually. The compound interest formula is used to solve this question.Compound Interest Formula: A = P(1 + r/n)^nt, where;A = the amount of money accumulated after n years,P = the principal (the starting amount),r = the annual interest rate,n = the number of times the interest is compounded per year,t = the number of years.
For this question, Simion wants to save money every month, which means his principal will be changing every month, that's why we will use the formula:A = P(1 + r/n) to the power nt and where P = the monthly savings = x, n = 12 (the number of times per year that the interest is compounded), r = 0.0696 (6.96 percent), t = 6 (years) and A = $500,000.
Therefore, $500,000 = x(1.0058)⁷².
The monthly savings amount, x, can be calculated by dividing $500,000 by (1.0058)⁷².
x = $500,000 ÷ (1.0058)⁷²
x = $5,391.05
Therefore, the amount of money that Simion has to save per month to accumulate $500,000 in 6 years is $5,391.05. Option C is correct.
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Hive Apiary is a leading consulting business that specializes in teaching farmers how to raise bees. Its accounting records reported the following data on December 31, 2019. Accounts appear in no part
Note that the unadjusted trial balance is attached accordingly.
What is the explanation of the attached trial balance?The debits and credits will be entered in their respective columns when preparing the unadjusted trial balance.
The trial balance represents the initial financial snapshot of Hive Apiary as of December 31, 2019. It lists various accounts and their corresponding debit or credit balances.
The balances include assets such as supplies, equipment, and cash, liabilities like accounts payable, and equity accounts related to capital, withdrawals, and revenue.
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Full Question:
Although part of your question is missing, you might be referring to this full question:
See attached.
under the allowance method, estimated uncollectible receivables are credited to
Under the allowance method, estimated uncollectible receivables are credited to the allowance for doubtful accounts (or allowance for bad debts) account. The allowance for doubtful accounts is a contra-asset account that reduces the accounts receivable balance on the balance sheet.
It represents the estimated amount of receivables that a company expects will not be collected from its customers. By creating this allowance, a company acknowledges that a portion of its accounts receivable is likely to be uncollectible and takes it into consideration in its financial reporting. To record the estimated uncollectible receivables, a company would credit the allowance for doubtful accounts account. This credit entry reduces the net accounts receivable balance, reflecting the anticipated loss due to uncollectible accounts.
The corresponding debit entry is typically made to an expense account such as bad debt expense or provision for doubtful accounts, which represents the cost of the estimated uncollectible receivables. Overall, the allowance for doubtful accounts is credited to record the estimated uncollectible receivables and reflects the company's recognition of the potential loss associated with these uncollectible accounts.
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(Individual or component costs of capital) Your firm is considering a new investment proposal and would like to calculate its weighted average cost of capital. To help in this, compute the cost of capital for the firm for the following:
a. A bond that has a $1,000 par value (face value) and a contract or coupon interest rate of 12.7 percent that is paid semiannually. The bond is currently selling for a price of $1.122 and will mature in 10 years. The firm's tax rate is 34 percent.
b. If the firm's bonds are not frequently traded, how would you go about determining a cost of debt for this company?
c. A new common stock issue that paid a $1.76 dividend last year. The par value of the stock is $14, and the firm's dividends per share have grown at a rate of 7.4 percent per year. This growth rate is expected to continue into the foreseeable future. The price of this stock is now $27.02.
d. A preferred stock paying a 10.2 percent dividend on a $130 par value. The preferred shares are currently selling for $153.86.
e. A bond selling to yield 12.1 percent for the purchaser of the bond. The borrowing firm faces a tax rate of 34 percent.
Cost of capital is the expense of funds used to finance a business' assets, whereas weighted average cost of capital is the average of the total cost of capital for the entire corporation.
The formula for WACC is:WACC = wd × Kd (1 - T) + wp × kp + wc × kcwhere wd, wp, and wc are the weights of debt, preferred stock, and common equity in the capital structure, and kd, kp, and kc are the costs of debt, preferred stock, and common equity, respectively, and T is the corporation's marginal tax rate.a. The price of the bond is 112.2 percent of the face value, or $1,122. The annual coupon payment is $1,000 x 12.7 percent = $127. The semi-annual payment is half that, or $63.50. The current yield-to-maturity on the bond is used to determine the after-tax cost of debt. n = 2 × 10 = 20 PV = -$1,122 FV = $1,000 PMT = $63.50 Solve for i/y = 6.15 percent y = 6.15% × 2 = 12.3% Pre-tax cost of debt = 12.3% After-tax cost of debt = 12.3% × (1 - 0.34) = 8.12%b.
Determine the yield to maturity for a comparable bond to determine the after-tax cost of debt. Another alternative is to apply a debt rating to the firm's outstanding bonds and estimate the bond's yield based on that rating.c. The firm's cost of common equity may be calculated using the dividend model:ke = (D1/P0) + gWhere: D1 = $1.76 x 1.074 = $1.89 P0 = $27.02 ke = 7.09% + 7.4% = 14.49%d. The cost of preferred stock is computed using the following equation:kp = Dp / PnetWhere: Dp = $130 x 10.2% = $13.26 Pnet = $153.86 - $130 = $23.86 kp = 55.59%e. The bond's after-tax cost of debt is computed using the formula: Kd (after-tax) = Yield-to-maturity (1 - T)Where: Yield-to-maturity = 12.1% T = 34% Kd (after-tax) = 7.99%Therefore, WD × KD × (1 - T) = 0.53 × 7.99% × (1 - 0.34) = 2.78% WP × KP = 0.16 × 55.59% = 8.89% WC × KE = 0.31 × 14.49% = 4.49%The weighted average cost of capital (WACC) for the firm is calculated as follows:WACC = WD × KD (1 - T) + WP × KP + WC × KEWACC = 2.78% + 8.89% + 4.49%WACC = 16.16%Therefore, the company's weighted average cost of capital is 16.16 percent.
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Mary Jones completed her Master’s degree at Webster University ten years ago, and recently inherited $125,000. After taxes of $20,000, and a couple of parties and cruises, she still has $100,000. It is in a short-term CD earning 1%. She has been working for 10 years at a job that pays her $45,000 a year, plus benefits. She is a single mom, 50 years old and has one child left at home who will be graduating from high school this year and plans to go to college. She has been interested in starting a business of her own for some time, but never had the funds to jump start the idea.
Her monthly expenses which include mortgage, car payments insurance, etc. are $3,500
Harry Smith works at the same place. He is a single dad with one child that is a junior in high school who plans to go to college. He earns $45,000 plus benefits each year and is also 50. He and Mary have talked about starting a business off and on for several years. He has accumulated $100,000 that he is willing to commit.
His monthly expenses which include mortgage, car payments insurance, etc. are $3,200
They have agreed that a fast-food business of some sort would work for them. They are looking at some businesses that are available now. Neither has any experience in this type of business.
1. Charlie’s Fast Snacks can be bought for $40,000 down and $60,000 (0 interest) over the next 5 years.
2. Jill’s Juice Bar can be bought for $30,000 down and $70,000 (0 interest) over the next 5 years.
3. The Squeeze Box (a franchise). $75,000 down and $25,000 (5% interest) over the next 5 year
Which of the three small businesses in the Harry and Mary case should they buy?
Considering their financial situation and the potential for profitability, Jill's Juice Bar appears to be the most suitable option for Harry and Mary. The demand for healthier food and beverages aligns with market trends, and the investment structure is manageable.
In evaluating the three small business options, Charlie's Fast Snacks, Jill's Juice Bar, and The Squeeze Box franchise, Harry and Mary should carefully consider their financial situation and long-term goals.
Considering their combined available funds of $200,000 and the fact that both Harry and Mary are interested in starting a business, they have the potential to make a substantial investment. However, it's essential to assess the profitability and feasibility of each business option. Charlie's Fast Snacks requires a $40,000 down payment and a remaining $60,000 with 0% interest over the next five years. This option provides flexibility in terms of the payment structure, which may be beneficial for Harry and Mary's cash flow. However, they should thoroughly investigate the business's financial health, potential for growth, and the overall fast-food market in their area. Jill's Juice Bar, with a $30,000 down payment and $70,000 payable over the next five years at 0% interest, presents an interesting opportunity. Considering the increasing demand for healthy food and beverages, a juice bar can be a viable option. However, they need to conduct market research to assess the competition and potential profitability of such a venture. The Squeeze Box franchise requires a $75,000 down payment and $25,000 payable over the next five years at a 5% interest rate. While franchises often provide a proven business model and support, the higher down payment and interest rate make it a riskier choice for Harry and Mary. However, they should conduct a thorough business analysis, including a detailed financial projection, to ensure the viability and success of their chosen venture.
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which of the four categories of business markets is apple pay best suited for, and why?
Apple Pay is best suited for the "Institutional Markets" category of business markets due to its security features, mobile convenience, contactless payments, integration within the Apple ecosystem, and alignment with institutions' focus on security and brand reputation.
There are several reasons why Apple Pay is well-suited for the institutional market:
1. Security and Privacy: Apple Pay offers enhanced security measures, including tokenization and biometric authentication (such as Touch ID or Face ID). This makes it appealing to institutions that handle sensitive data and prioritize security and privacy, such as government agencies, healthcare organizations, and educational institutions.
2. Mobile Convenience: Apple Pay allows for seamless mobile payments, which aligns with the increasing trend of digitalization and mobile-centric activities within institutions. It offers a convenient and efficient payment method for various purposes, including tuition payments, donations, and purchases within institutional settings.
3. Contactless Payments: In light of the COVID-19 pandemic, there has been a significant shift towards contactless payment methods to minimize physical contact. Apple Pay enables institutions to provide a safer payment option by eliminating the need for physical cards or cash transactions.
4. Integration and Ecosystem: Apple Pay is integrated into the broader Apple ecosystem, which includes devices like iPhones, iPads, and Apple Watches. This integration allows for a seamless experience across multiple devices, making it appealing to institutions that leverage Apple products for their operations or offer Apple devices to their staff or members.
5. Innovation and Brand Reputation: Apple has a strong reputation for innovation, user-friendly interfaces, and high-quality products. Institutions often seek to align themselves with reputable brands that reflect their own commitment to excellence. By adopting Apple Pay, institutions can enhance their brand image and demonstrate their embrace of cutting-edge technology.
In summary, Apple Pay is best suited for institutional markets due to its strong security measures, mobile convenience, contactless payments, integration within the Apple ecosystem, and alignment with institutions' focus on security, convenience, and brand reputation.
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Assume the following:
Sales
$ 240,000
Overapplied overhead
$ 8,000
Cost of goods manufactured
$ 180,000
Beginning finished goods inventory
$ 10,000
Ending finished goods inventory
$ 14,000
The net operating income in this case would be, approximately $30,000 (Option A).
How is this so?To calculate the net operating income,we need to subtract the cost of goods sold and selling and administrative expenses from the sales revenue.
Cost of Goods Sold (COGS) can computed like this.
Beginning Finished Goods Inventory+ Cost of Goods Manufactured - Ending Finished Goods Inventory
COGS = $10,000 + $180,000 - $14,000 = $176,000
Net Operating Income = Sales - COGS - Selling and Administrative Expenses
Net Operating Income = $240,000 - $176,000 - $33,000
= $31,000
Therefore, the net operating income is $31,000. The closes option to this is Option A.
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Full Question:
Although part of your question is missing, you might be referring to this full question:
Assume the following:
Sales
$240,000
overapplied overhead
$ 9,000
Cost of goods manufactured
$180,000
Beginning finished goods inventory
$ 10,000
Ending finished goods inventory
$ 14,000
Sei i ing and administratlve expenses
$ 33,000
What is the net operating income?
Multiple Choice $30,000 $22.000 $16.000
.Cullumber Company is considering these two alternatives for financing the purchase of a fleet of airplanes.
1. Issue 52,000 shares of common stock at $45 per share. (Cash dividends have not been paid nor is the payment of any contemplated.)
2. Issue 11%, 15-year bonds at face value for $2,340,000.
It is estimated that the company will earn $803,000 before interest and taxes as a result of this purchase. The company has an estimated tax rate of 40% and has 91,500 shares of common stock outstanding prior to the new financing.
Determine the effect on net income and earnings per share for issuing stock and issuing bonds. Assume the new shares or new bonds will be outstanding for the entire year
The effect on net income for issuing bonds is $327,360 and the earnings per share is $2.28.
Number of new shares issued = 52,000
Price per share = $45
Total proceeds from issuing stock = 52,000 × $45 = $2,340,000
There is no effect on net income or earnings per share from issuing stock because there are no cash dividends paid.
For Issuing Bonds
Face value of bonds = $2,340,000
Interest rate = 11%
Interest expense = $2,340,000 × 11% = $257,400
Pre-tax earnings = $803,000
Interest expense = $257,400
Earnings before taxes = $803,000 - $257,400 = $545,600
Taxes (40%): $545,600 × 40% = $218,240
Net income: $545,600 - $218,240 = $327,360
Total shares outstanding after issuing stock = 91,500 + 52,000 = 143,500
New Earnings per share: $327,360 / 143,500 = $2.28 per share
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