Answer:
b. rises; left
Explanation:
Wage is the amount incurred in compensating workers for their services. It is a major expense for producers. Wage is one of the inputs in the manufacturing process; producers need labor services to continue operating. An increase in wages raises the production cost of the finished goods.
An increase in the cost of production may limit the quantity of output from the producers. As production cost increase, producers will require additional funds to finance the high production costs. Since resources are scarce in every industry, producers may opt to lower their output to avoid incurring high costs. A decrease in the production volume shifts the aggregate supply curve to the left.
____involves relying on one's
authority position or stressing that a
request is in accordance with
organizational policies or rules.
Select one:
a. Consultation
b. Legitimacy
c. Exchange
d. Rational persuasion
= Legitimacy
Explanation:
legitimacy involves relying on one's
authority position or stressing that a
request is in accordance with
organizational policies or rules.
Rodgers Company gathered the following reconciling information in preparing its May bank reconciliation.
Calculate the adjusted cash balance per books on May 31.
Cash balance per books, 5/31 $3,170
Deposits in transit $215
Notes receivable and interest collected by bank $955
Bank charge for check printing $43
Outstanding checks $1,152
NSF check $173
A. $1,170
B. $3,015
C. $3,909
D. $2,233
Answer:
C. $3,909
Explanation:
Calculation for the adjusted cash balance per books on May 31.
Cash balance per books, 5/31 $3,170
Add Notes receivable and interest collected by bank 955
Less Bank charge for check printing ($43)
Less NSF check ($173)
Adjusted cash balance per books on May 31 $3,909
Therefore the adjusted cash balance per books on May 31 will be $3,909
On June 1 of the current year, Chad Wilson established a business to manage rental property. He completed the following transactions during June:
a. Opened a business bank account with a deposit of $30,000 from personal funds.
b. Purchased office supplies on account, $1,800.
c. Received cash from fees earned for managing rental property, $10,000.
d. Paid rent on office and equipment for the month, $4,500.
e. Paid creditors on account, $1,250.
f. Billed customers for fees earned for managing rental property, $16,800.
g. Paid automobile expenses (including rental charges) for the month, $750, and miscellaneous expenses, $980.
h. Paid office salaries, $4,000.
i. Determined that the cost of supplies on hand was $680; therefore, the cost of supplies used was $1,120.
j. Withdrew cash for personal use, $7,500.
Required:
Indicate the effect of each transaction and the balances after each transaction.
Answer:
a.
Assets = Increase $30,000
Liability = No effect
Equity = Increase $30,000
Balances : Cash = $30,000 , Capital = $30,000
b.
Assets = Increase $1,800
Liability = Increase $1,800
Equity = No effect
Balances : Office Supplies $1,800, Trade Payables $1,800
c.
Assets = Increase $10,000
Liability = No effect
Equity = Increase $10,000
Balances : Cash = $40,000, Revenue Earned $10,000
d.
Assets = Decrease $4,500
Liability = No effect
Equity = Decrease $4,500
Balances : Rent Expense $4,500, Cash $35,000
e.
Assets = Decrease $1,250
Liability = Decrease $1,250
Equity = No effect
Balances : Trade Payables $550, Cash $33,750
f.
Assets = Increase $16,800
Liability = No effect
Equity = Increase $16,800
Balances : Revenue Earned $26,800 , Trade Receivables $16,800
g.
Assets = Decrease $1,730
Liability = No effect
Equity = Decrease $1,730
Balances : Automobile expenses $750 , Miscellaneous expenses $980, cash $33,000
h.
Assets = Decrease $4,000
Liability = No effect
Equity = Decrease $4,000
Balances : Office salaries $4,000, cash $29,000
i.
Assets = Decrease $1,120
Liability = No effect
Equity = Decrease $1,120
Balances : Office Supplies $680, Supplies expenses $1,120
j.
Assets = Decrease $7,500
Liability = No effect
Equity = Decrease $7,500
Balances : Cash $21,500, Drawings $7,500
Explanation:
When required to give the effect of transactions, always remember the Accounting Equation : Assets = Equity + Liability
Transactions will affect one or more elements of the this equation. Here is a simple approach to arrive at the effects :
Step 1 : The initial step is to identify the Accounts affected.
Step 2 : Classify the Accounts as either Assets, Liabilities or Equity (Capital and Profit)
Step 3 : Give the Effect (Increase, Decrease or No Effect) on the Elements of the equation.
which business is more likely to borrow from an investment bank
Answer:
Investment banks were seeking to borrow more money to trade more debt and earn more profits. Early on, for every one dollar the investment bank invested from its own funds, it invested an additional three dollars of borrowed funds.
You are considering three alternative banks in which to open a savings account. The first bank offers you an annual rate r1, and the interest is paid monthly. The second bank offers a rate r2, and the interest is paid daily. The third bank offers a rate r3, and it offers continuous compounding.
Give all answers to four decimal places.
1) Suppose you were to save $500.0000 in the first bank. The interest rate is r1=8.0000%. Three years from now, you should have $
2) Suppose you were to save $500.0000 in the second bank. The interest rate is r2=5.0000%. Three years from now, you should have $
3) Suppose you were to save $500.0000 in the third bank. The interest rate is r3=3.0000%. Three years from now, you should have $
4) Let the interest rate in the first bank be r1=8.0000%, and you are considering saving your money for 3 years. The interest rate from the second bank that would make you indifferent between the first and second bank is r2=
5) Let the interest rate in the third bank be r3=3.0000%, and you are considering saving your money for 3 years. The interest rate from the first bank that would make you indifferent between the first and third bank is ????
Answer:
1) Suppose you were to save $500.0000 in the first bank. The interest rate is r1=8.0000%. Three years from now, you should have
effective interest rate = 1.08 = (1 + r)¹²
r = 0.643403% per month
future value = $500,000 x (1.0643403)³⁶ = $629,856
2) Suppose you were to save $500.0000 in the second bank. The interest rate is r2=5.0000%. Three years from now, you should have
effective interest rate = 1.05 = (1 + r)³⁶⁵
r = 0.013368061% per day
future value = $500,000 x (1.00013368061)¹⁰⁹⁵ = $578,812.50
3) Suppose you were to save $500.0000 in the third bank. The interest rate is r3=3.0000%. Three years from now, you should have
future value = $500,000 x e⁰°⁰⁹ = $547,087.14
4) Let the interest rate in the first bank be r1=8.0000%, and you are considering saving your money for 3 years. The interest rate from the second bank that would make you indifferent between the first and second bank is r2=
$629,856 = $500,000 x (1 + i)¹⁰⁹⁵
(1 + i)¹⁰⁹⁵ = 1.259712
1 + i = 1.000210874
i = 0.000210874 = 0.0210874% per day or 7.7% annual
5) Let the interest rate in the third bank be r3=3.0000%, and you are considering saving your money for 3 years. The interest rate from the first bank that would make you indifferent between the first and third bank is
$500,000 x (1 + i)³⁶ = $547,087.14
(1 + i)³⁶ = 1.09417428
i = 0.2503128 per month = 3.05% annual
What kind of pricing is based upon the perception of value and can command a higher price point?
Premium pricing
Economy pricing
Psychological pricing
Pricing for penetration
Answer: economy
Explanation:
Which of the following describes the value of a product?
- the amount of money that consumers are willing to pay for the product
- the time and materials that it costs a manufacturer to make the product
- the difference between the cost of making the product and what consumers pay for the product
- the sum of the total cost of making the product and what consumers pay for the product
Answer:
- the amount of money that consumers are willing to pay for the product
Explanation:
A product's value can be described as the satisfaction it gives to consumers. A product's value is the benefit it generates to the final consumer. Customers are always willing to pay more for a product that offers higher benefits. The demand for goods and services that offer less satisfaction to customers is always low, which makes them have low market prices.
The value of a product can be expressed as the amount of money that customers are willing to pay to obtain it.
Scenario #2: One spouse thinks that their two children need new shoes. The other
spouse thinks that the family vehicle needs an oil change. Can both be done with only
$30 in the budget for blow money? How can this issue be resolved in the future?
Your coworker is creating the headings for a report. What advice should you give her?
Do not use first- and second-level headings.
Strive for parallel construction within heading levels.
Use headings as antecedents for pronouns.
Review the following report excerpt, and complete the sentence.
To: Tracy Smallman
From: Diane Martinez, Rene Guzman
Date: June 8, 2009
Subject: Online Certificate Program Status Report
The following status report provides an update on the progress of the Online Certificate Program. The report includes updates on the project outline, a summary of key findings, and an overall evaluation of the project to date.
Progress Update
Phase 1 (Development) is well underway, with research phase and discovery phase milestones completed. In the last month, we completed a course pilot and collected user feedback. Key findings have directed the development of new course offerings and guided the initial development of additional content for course modules to be launched next fall.
The heading "Progress Update" might be improved to read ________
To ensure formatting does not change, how should a report be sent?
As an Excel file
As a Word file
As a PDF file
As a Power Point file
Which of the following is best used for conveying complex information quickly and clearly?
Infographics
Slide decks
Templates
Written text
Which of the following are components of an effective report heading? Check all that apply.
It occurs no more often than every three pages in a report
It is grammatically equal to other headinggs in its level
It uses creative punctuation
It is short and clear
It has punctuation correctly applied
The heading "Progress Update" might be improved to read_______ "Currently accomplished tasks"
To ensure formatting does not change, how should a report Progress Update: Phase 1 accomplishments"
As an Excel file
Answer:
1. I will offer the following advice for creating effective reports:
a. Make use of appropriate heading levels
b. Use parallel construction
c. Use first- and second-level headings for short reports
d. Capitalize and underline headings carefully
e. Keep headings short and clear
f. Do not use headings as antecedents for pronouns, and
g. Include at least one heading per report page when appropriate.
2. The heading "Progress Update" might be improved to read ________
"Currently Accomplished Tasks"
3. To ensure formatting does not change, a report should be sent:
As a PDF file
4. To convey complex information quickly and clearly, the best is:
Infographics
5. Components of an effective report heading include:
It is short and clear
Explanation:
When writing informational reports, ensure that you emphasize the facts, using appropriate formats to convey them. But if it is an analytical report, the emphasis shifts to the reasoning process and the conclusion(s) to be drawn. Clear and short headings, including subheadings, are important in every report. They give reports more clarity and direction, guiding the reader appropriately.
The amounts of the assets and liabilities of Journey Travel Agency at December 31, 2018, the end of the year, and its revenue and expenses for the year follow. The retained earnings were $1,341,000 on January 1 2018, the beginning of the year. During the year, dividends of $75,000 were paid.
Accounts payable $69,500 Miscellaneous Expense $14,500
accounts receivable $236,500 Rent expense $22,500
cash $190,500 supplies $7,000
common stock $450,000 supplies expense $11,300
Fees earned $383,500 utilities expense $16,700
Land $1,500,00 wages expense
$170,000
1.Prepare an income statement for the year ended in December 31 2018
2. Prepare a retained earnings statement for the year
3. Prepare a balance sheet as of december 31 2018
4. What item appears on both the retained earnings statement adn the balance sheet?
Journey Travel Agency
Income Statement
For the Year Ended December 31, 2018
Revenue
Expenses
Misscellaneous expense
Supplies
Supplies expense
utilities expense
Net income
Journey Travel Agency
Statement of Retained Earnings
For the Year Ended December 31, 2018
Retained earnings, January 1, 2018
Retained earnings, December 31, 2018
Journey Travel Agency
Balance Sheet
For the Year Ended December 31, 2018
Assets Liabilities
Total liabilities
Stockholders' Equity
Total liabilities and
Total assets
stockholders' equity
(posted chart from excel, given by teacher)
Answer:
Income statement
Fee earned $383,500
Expenses:
Miscellaneous expense $14,500
Rent expense $22,500
Supplies expense $11,300
Utilities expense $16,700
Wages expense $170,000 $235,000
Net income $148,500
Statement of retained earnings
Retained earnings, beginning $1,341,000
Net income $148,500
Less: Dividend paid $75,000
Retained earnings, ending $1,414,500
Balance sheet
Assets
Cash $190,500
Accounts receivable $236,500
Supplies $7,000
Land $1,500,000
Total assets $1,934,000
Liabilities
Accounts payable $69,500
Stockholders' equity
Common stock $450,000
Retained earnings $1,414,500
Total stockholders' equity $1,864,500
Total liabilities and stockholders' equity $1,934,000
In the current year, Wilson Enterprises, a calendar year taxpayer, suffers a casualty loss of $90,000. The casualty was attributable to a Federally declared disaster. How much of the casualty loss will be deductible by Wilson under the following circumstances?
Required:
a. Wilson is an individual proprietor and has AGI of $225,000. The casualty loss was a personal loss, and the insurance recovered was $50,000 before any limitations. Wilson can claim a casualty loss as an itemized deduction of $_________
b. Assume Wilson is a C corporation, and the insurance recovered was $50,000 before any limitations Wilson can deduct $________
Answer:
Items Amount
a. Loss 90000
Less: Insurance Recovery 50000
Loss after Insurance reimbursement 40000
Less : Single event Deduction 100
Loss after $ 100 rule 39900
Less: 10%*225000(AGI) 22500
Casualty loss deduction $17,400
So, the casualty loss deductible by Wilson = $17,400
b. Wilson is a corporation, and the insurance recovered was $50,000. As the casualty loss is a personal loss, no deduction is available to Wilson Corporation . So,casualty loss deductible by Wilson = $0.
Thomas and Martina are on the same debate team at school. After the team completes a rehearsal the teacher points out how impressive Martina's performance was. Thomas realizes his own performance has never warranted such praise. He decides to watch Martina closely during the next rehearsal and learn some of her strategies.
Select the statement that describes a way Thomas could rehearse to improve his debate performance.
a. Thomas borrows Martina's stopwatch so he can time the parts of his speech.
b. Thomas attempts to mimic the tone and pace of Martina's speaking voice.
c. Thomas adds new graphics to his presentation that are eye-catching but unrelated to his argument.
d. Thomas decides he needs to speak at the same podium Martina is using.
Answer: B. Thomas attempts to mimic the tone and pace of Martina's speaking voice.
Explanation:
The statement that describes a way Thomas could rehearse to improve his debate performance is by attempting to mimic the tone and pace of Martina's speaking voice.
Mimicking Martina's tone and pace will help Thomas in capturing the attention of the audience and give an impressive performance.
Diskind Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets and performance reports. During October, the company budgeted for 6,700 units, but its actual level of activity was 6,650 units. The company has provided the following data concerning the formulas used in its budgeting and its actual results for October:
Data used in budgeting:
Fixed element
per month Variable element per unit
Revenue — $34.20
Direct labor $0 $6.20
Direct materials 0 13.80
Manufacturing overhead 37,000 1.70
Selling and administrative expenses 25,500 0.20
Total expenses
$62,500
$21.90
Actual results for October:
Revenue $228,900
Direct labor $41,130
Direct materials $93,235
Manufacturing overhead $43,500
Selling and administrative expenses $30,470
The direct materials in the flexible budget for October would be closest to:
A. $91,770
B. $93,965
C. $92,460
D. $93,055
Answer:
A. $91,770
Explanation:
The direct materials in the flexible budget for October:
Cost = Variable Cost + Fixed Cost
Variable Cost = Actual level of activity*Direct material Variable element per unit = 6,650 units * $13.80 = $91,770
Fixed Cost = $0
So, the direct materials in the flexible budget for October = $91,770 + 0 = $91,770.
A bank has total interest income of $62.736 million and total noninterest income of $10.077 million. This bank has total interest expenses of $22.065 million and total noninterest expenses (excluding PLL) of $23.858 million. Its provision for loan losses is $1.566 million and its taxes are $3.214 million. What is this bank's net noninterest income, to the nearest $0.001 million?
Answer:
-$15.347
Explanation:
Calculation for What is this bank's net noninterest income
Using this formula
Net noninterest income=Total noninterest income+(Total noninterest expenses+Loan losses)
Let plug in the formula
Net noninterest income=$10.077-($23.858+$1.566,)
Net noninterest income=$10.077-$25.424
Net noninterest income=-$15.347
Therefore the bank's net noninterest income will be -$15.347
There are 72,922 seats in Lambeau Field where the Green Bay Packers play football. The Packers have sold out their season tickets since 1960. There were about 70,000 people on the waiting list to buy season tickets in 2018. Packers tickets are a normal good. As a result of the economic recession in 2010 during which people's incomes decreased, the:________.
a. demand for Packers tickets decreased.
b. substitution effect changed the quantity demanded.
c. quantity demanded of Packers tickets decreased.
d. demand curve for Packers tickets shifted rightward.
Answer: quantity demanded of Packers tickets decreased.
Explanation:
First and foremost, we should note that normal goods are the goods that when the income of an individual rises, the individual will buy more and in a case whereby the income reduces, the person will buy less.
Therefore, during recession when people's incomes decreased, the quantity demanded of Packers tickets decreased as well
Perceptual skills can be enhanced
by
Select one:
a. Knowing and perceiving on
self accurately
b. Being empathetic
c. Both are incorrect
d. Both are correct
= Both are correct
Answer:
D
Explanation:
A and B both effect Perceptual skills so it would be D
The effective operation of a firm and its supply chain is more important than the design and implementation of its processes.
True False
Answer: False
Explanation:
The above statement is false. The design and implementation stage is vital as well as thus is the point where a particular product is designed and where the project will be executed.
A product can only be supplied to the customers if such product has give through the design and implementation phase. This implies that the phase is if importance.
Assume that Mahmood Corp. lends Ahmad $10,000 in exchange for a $10,000,
three-year note bearing interest at 10 percent annually. The market rate of interest for a
note of similar risk is also 8 percent.
1. What is the present value?
2. What the entry is at the date of lends?
3. Prepare the schedule of the loan?
4. What is the entry at the end of year?
Answer:
1) the present value of the note:
PV of face value = $10,000 / (1 + 8%)³ = $7,938.32
PV of interest payments = $1,000 x 2.5771 (PV annuity factor, 8%, 3 periods) = $2,577.10
PV of note = $10,515.42
2) Dr Notes receivable 10,515.42
Cr Cash 10,000
Cr Discount on notes receivable 515.42
3) assuming the loan was made January 2, 2021
Date Cash flow Discount Balance
January 2, 2021 -$10,000 $10,515.42
January 2, 2022 $1,000 $171.81 $10,343.61
January 2, 2023 $1,000 $171.81 $10,171.80
January 2, 2024 $11,000 $171.80 $0
4) December 31, accrued interest on notes receivable
Dr Interest receivable 1,000
Dr Discount on notes receivable 171.81
Cr Interest revenue 1,171.81
.
Which type of company can list and trade shares on the stock exchange?
А
company can list
Answer:
A corporation is owned by its shareholders, and selling shares on the open market is one way for a public company to raise capital. To promote trading of its stock, a corporation may choose to list its shares on a stock exchange.
When drafting an end-of-year summary report to her supervisor about the status and sales of the restaurant's newest pizza, Diane omits details about negative customer feedback. By only reporting positive feedback, which barrier of effective communication is she using?
A) deceptive tactics
B) perceptual differences
C) distractions
D) information overload
Ashton's gross pay is $82,000. He receives tax credits of $2,000. He pays total taxes of $4,500. What are his taxable and disposable incomes?
Ashton's taxable income is $
and his disposable income is $
v
Reset
Next
Answer:Therefore, Ashton's taxable income is, $80,000 while his disposable income is $75,500.
Explanation:
Why is a spending plan an important part of financial planning? Choose all that are correct. а b C Helps to manage your money in a positive manner Helps to set and reach goals Tells you what your net worth is Helps to analyze the opportunity costs of your trade-offs to maximize financial well-being Can help to Increase net worth
Answer:
- Helps to manage your money in a positive manner.
- Helps to analyze the opportunity costs of your trade-offs to maximize financial well-being.
- Can help to increase net worth.
Explanation:
Having a Spending plan is very crucial to ensure that you have a sufficient amount of money every time in order to use it in time of need or emergency. It helps in keeping control and management of the money you spend which promotes a managed financial future. This further enhances your net worth as an individual by preventing unnecessary expenses and also assist in attaining financial goals more effectively and efficiently.
Which of the following occupations would least likely to be
subjected to seasonal employment?
Select one:
a.
Easter Bunny.
b.
McDonald clown.
C.
Department store Santa Claus.
d.
Lifeguard.
= McDonald clown.
Answer:
McDonald Clown
Explanation:
B.
=MCDONALD
Suppose that there are only two firms in the automobile industry in a particular country. Which term describes the country's automobile market?
Use letters in alphabetical order to select options
A monopolistic competition
B duopoly
C double monopoly
D Nash equilibrium
Answer:
Duopoly ( B )
Explanation:
The term that describes a country's market whereby there are only two firms in any industry is ; Duopoly
A Duopoly economy is a type of economy whereby the entirety of an Economy is solely controlled/owned by a not more than two industries/companies, this type of economy can be said to be a form of Oligopoly in its simplest form. while a monopolistic competition involves just one company or industry controlling the economy
Is rental income debit or credit
Answer:
Debit
Explanation:
Rent Income is recorded by crediting the account. Cash is debited if cash is received. Rent Receivable is debited if it is to be collected at a later date.
Every day, Dawa comes to work
intoxicated, and this compromises
his work efficiency. Dawa is
engaging in
Select one:
a. corruption
b. Workplace deviancev
c. Property deviance
d. Sabotage
= Workplace deviance
Answer:
the answer is workplace deviancey
Answer:
You are indeed correct
Explanation:
Communication may account for as much as. Of a hiring decision
a 25%
b. 40%
C65%
d. 80%
Answer:
A) 25%
Explanation:
Just got it right on edge
M.A. was counting on her savings that she invested in Social Security. She doubts that this system will support her because the stock market crashed. She believes that the failure of the stock market, and its lack of recovery is because of poor presidential leadership.
a. True
b. False
Incomplete/unclear question. However, I answered based on what is found in the text.
Answer:
a. True
Explanation:
Based on the text, as part of her plans for old age, M.A was counting on her savings in social security.
And it is also possible for poor presidential leadership to negatively affect stock prices since the executive arm of government (the president) can draft out fiscal policies that could influence the amount of spending in an economy; thereby leading to a lack of recovery in stock prices.
The interest rate will increase as a result of:
Select one:
a. decrease in minimum lending rate
b. a reduction in income
c. an open market purchase of bonds by the central bank
d. Increase in tax rate
= decrease in minimum lending rate
The interest rate will increase as a result of decrease in minimum lending rate.
What will lead to an increase in the interest rate?Interest rate can be described as the cost of borrowing. It is the rate that borrowers charge lenders for the use of their funds.
When the demand for money increases, the interest rate will increase. When there is a decrease in the minimum lending rate, there would be an increase in the demand for money. As a result, interest rate would increase.
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The correct option is A when the rate of interest increases and there is a decrease in the minimum lending rate.
What is needed to increase the interest rate?It is a money-controlling technique to maintain the flow of money in the market. When there is excess money in the market, this measure can be used.
Thus, option A is correct the interest rate can be increased when there is excess money in the market, whereas the interest rate can be decreased when there is less money in the market in terms of providing loans at a reasonable rate.
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ICOT Industries issued 15 million of its $1 par common shares for $424 million on April 11, 2012. Legal, promotional, and accounting services necessary to effect the sale cost $2 million.
Required: Show the journal entry to record the issuance. How does this treatment compare to debt issue costs we talked about in chapter 14?
Answer:
Date Account title and Explanation Debit Credit
Apr 11 Cash ($424 million - $2 million) $422,000,000
Common stock $15,000,000
Paid in capital in excess of par value $407,000,000
($422,000,000 - $15,000,000)
(To record the issue of common Stock)