When Phil lists his house on his balance sheet, he should record D. $85,000.
What is the value of an asset on the personal balance sheet?Since Phil is not a business entity, he should use the market value of the house to record it on the balance sheet.
The balance sheet shows the current financial position (assets and liabilities) at a point.
Data and Calculations:House price = $75,000
Insurance = $65,000
Market value = $85,000
Outstanding mortgage balance = $68,000
Annual real estate taxes = $2,000
Thus, when Phil lists his house on his balance sheet, he should record D. $85,000.
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Which of the following is an example of a GAAP standard?
Ensuring financial statements are accurate and complete
Ensuring products meet all quality standards
Ensuring the company makes a profit
Ensuring the safety of all employees
Answer:
A. Ensuring financial statements are accurate and complete
Explanation:
GAAP stipulates how to file income statements, what financial periods to include, and how to report cash flow.
The example of a GAAP (Generally Accepted Accounting Principles) standard is: Ensuring financial statements are accurate and complete.
GAAP refers to the standardized guidelines and principles that govern the preparation and presentation of financial statements by companies. Ensuring that financial statements are accurate and complete is a fundamental GAAP principle.
It involves accurately recording financial transactions, adhering to proper accounting methods, and presenting financial information in a transparent and consistent manner. This helps provide reliable and comparable financial information to stakeholders, such as investors, creditors, and regulators, facilitating better decision-making and assessing the financial health of a company.
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Suppose you are the manager of a local water company, and you are instructed to get consumers to reduce their water consumption by 10 percent. If the price elasticity of demand for water is 0.25, by how much would you have to raise the price of water
The price of the water needs to be raised by 40% when the consumption of water reduces by 10% and the price elasticity of demand results to 25%.
What is meant by the price of elasticity of demand?The price elasticity of demand is determined as the proportionate variation in quantity with respect to variation in the price of a good.
Given values:
Change in water consumption (fall): 10%
Price elasticity of demand: 25%
Computation of percentage change in the price of water:
[tex]\rm\ Change \rm\ in \rm\ price \rm\ of \rm\ water=\frac{\rm\ Change \rm\ in \rm\ water \rm\ consumption}{\rm\ Price \rm\ elasticity \rm\ of \rm\ demand} \\\rm\ Change \rm\ in \rm\ price \rm\ of \rm\ water=\frac{10\%}{25\%} \\\rm\ Change \rm\ in \rm\ price \rm\ of \rm\ water=40\%[/tex]
Therefore, there is an increase in water price by 40%.
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Which of the following is an example of an effective persuasive speech topic for a group of elementary school children? (edge 2022)
a.
the origins of Santa Claus in different cultures around the world
b.
abstinence: the best protection
c.
read at least 20 minutes a day
d.
staying in school is cool
M and M, Inc. produces a product that has a variable cost of $4.20 per unit. The company's fixed costs are $45,600. The product is sold for $8 per unit and the company desires to earn a target profit of $11,400. What is the amount of sales that will be necessary to earn the desired profit
The amount of sales that will be necessary to earn the desired profit is $120,000.
What is desired profit?Desired profit refers to the amount of the profit expected by the company which is estimated by them as per the sales of the company. The sales are also estimated and the company makes the budget of it.
To calculate the desired sale we need to calculate the contribution which is calculated as follows:-
Contribution margin per unit = (Selling price per unit - Variable costs per unit)
Contribution margin per unit = ($8 per unit - $4.20 per unit) = 3.80 per unit
Break-even point in units = (Fixed costs + Desired profit) ÷ Contribution margin per unit
Break-even point in units = ($45,600 + $11,400) ÷ 3.80 per unit = 15,000 units
Break-even point in dollars = Break-even point in units × Selling price per unit
Break-even point in dollars = 15,000 units × $8 = $120,000
Thus the desired sales is $120,000.
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Select all that apply
Which of the following are examples of resources?
A.An oven used to bake bread at a bakery
B.Workers hired to pick grapes at a vineyard.
C.A new technology improving the production process for tractors.
D.Social Security payments made to retired workers.
Answer:
A. An oven used to bake bread at a bakery
B. Workers hired to pick grapes at a vineyard
A resource is something a business needs for its production. A and B both directly benefit production while C indirectly benefits it and D has no impact.
Note: Answer C is a technological resource but it indirectly affects production. Most people do not include it as a resource but occasionally some do.
Among all the given examples, the best examples of resources are:
An oven used to bake bread at a bakery
Workers are hired to pick grapes at a vineyard.
Hence, Options A and B are correct.
What are resources?There are various things present in the world that are available for the use of humans. The role of these things is to make the work of humans easy and at the same time provide support to humans.
The term that is used to denote these things is "resources." All a person has to do is ensure that all available resources are used to their full potential.
There are various natural as well as man-made resources available that can be used by humans. Some of the examples of resources are food, water, oil, coal, natural gas, metals, and many more.
Thus, Options A and B are correct.
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Blue fin started the current year with assets of $716,000, liabilities of $358,000 and common stock of $216,000. during the current year, assets increased by $416,000, liabilities decreased by $58,000 and common stock increased by $291,000. there was no payment of dividends to owners during the year. what was the amount of blue fin's change in total stockholders' equity during the year
The amount of blue fin's change in total stockholders' equity during the year is: $474,000.
Change in total stockholders' equityChange in Assets = Change in Liabilities + Change in Stockholders' Equity
Change in Stockholders' Equity = Change in Assets − Change in Liabilities
Change in Stockholders' Equity = $416,000 − ($58,000)
Change in Stockholders' Equity =$416,000 + $58,000
Change in Stockholders' Equity = $474,000
Therefore the amount of blue fin's change in total stockholders' equity during the year is: $474,000.
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As a new leader you have decided to apply the path-goal theory in managing your staff. one of the two important personal characteristics of subordinates in this theory is locus of control. what is the other important personal characteristic that you should consider
A subordinate should have the ability to manage the organization's workforce as a leader. The subordinates' impression of their talents is an important personal quality.
What is the path-goal leadership theory?
According to the path-goal theory, a leader's conduct is influenced by their employees' satisfaction, motivation, and performance. The manager's task is considered as improving employees ’ performance in choosing the best pathways to achieve both their own and the company's goal.
Inclusive leaders, follower traits, task characteristics, and motivation is all aspects of the path-goal theory
As a result, the two most important personal characteristics of subordinates in the theory. for example locus of control and abilities perception.
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Find the a) amount, and b) compound interest. (From Example 1) Ramona Oden deposited $6,000 at 5.5% interest compounded daily for 25 days. 2. Chuck Lange deposited $6,000 at 5.5% interest compounded daily for 31 days.
Based on the amount deposited by Ramona and the interest rate, the amount would be $6,022.64 and the compound interest would be $22.64.
The amount for Chuck would be $6,027.18 and the compound interest would be $27.18.
What is the amount for Ramona?This can be found as:
= Amount x (1 + rate/compounding periods in a year) ^ number of periods
= 6,000 x (1 + 5.5%/365 days) ²⁵
= $6,022.64
The compound interest is:
= 6,022.64 - 6,000
= $22.64
What is the amount for Chuck?= 6,000 x (1 + 5.5%/365 days) ³⁰
= $6,027.18
Compound interest:
= 6,027.18 - 6,000
= $27.18
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A widely debated issue of the early 1990s was the ratification of the __ __ __ __ agreement, which created a free-trade area among the united states, mexico, and canada.
A widely debated issue of the early 1990s was the ratification of the North American Free Trade Agreement (NAFTA) agreement, which created a free-trade area between the United States, Mexico, and Canada.
What is NAFTA?The North American Free Trade Agreement (NAFTA) was implemented to promote trade between the United States, Canada, and Mexico. The agreement, which eliminated most tariffs on trade between the three countries, entered into force on 1 January 1994.
Therefore, A widely debated issue of the early 1990s was the ratification of the North American Free Trade Agreement (NAFTA) agreement, which created a free-trade area between the United States, Mexico, and Canada.
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Managers use a ______ strategy to distinguish their products from those of their competitors by focusing on characteristics such as design, quality, and after-sale service.
Answer:
This is product differentiation
Explanation:
I'm just a smart guy
True or false: Some projects, such as mines, have cash outflows followed by cash inflows, which are then followed by cash outflows, giving the project multiple rates of return.
"Some projects, such as mines, have cash outflows followed by cash inflows....giving the project multiple rates of return." this statement is true. This is further explained below.
What is cash flow?Generally, inflows and outflows of cash, particularly as it relates to liquidity.
In conclusion, It is possible to have multiple internal rates of return if future cash flows are both positive and negative.
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An organization of high school seniors performs services for patients at Leer Hospital. These students are volunteers and perform services that the hospital would not otherwise provide, such as wheeling patients in the park and reading to patients. Leer spent $1,500 on a recognition banquet and awards for these volunteers. Leer has no employer-employee relationship with these volunteers, who donated 4,000 hours of service to Leer during the year. At the minimum wage rate, these services would amount to $20,600, while it is estimated that the fair value of these services was $25,000. In Leer's statement of activities, what amount should be reported for donated services
"An organization of high school seniors performs services for patients at Leer Hospital."The amount that should be reported for donated services is 0$. This is further explained below.
What have donated services?Generally, donated services are simply defined as Contributed premises, advantageous financial agreements, or donated services are all ways in which a nonprofit might benefit from the generosity of others.
In conclusion, free labor, A unique collection of abilities is required, and we were going to buy it anyhow.
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A competitive firm maximizes profit by choosing the quantity at which.
Profit maximization can be achieved by a competitive corporation by choosing a quantity of output such that marginal revenue equals marginal cost.
How does a corporation maximize its profit?A corporation maximizes income via way of means of operating wherein marginal revenue equals marginal price. The corporation chooses quantity in order for that rate to equal marginal value so that it can maximize its profit.
Therefore, When the marginal revenue for an aggressive corporation equals the market rate, the firm maximizes its profit.
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The intrinsic nature of the work is the most important predictor of _________ and employee well-being.
The intrinsic nature of the work is the most important predictor of Turnover job satisfaction and employee well-being.
What is Job satisfaction?Job satisfaction can be regarded as the contentment of employees with the tasks that are involved in a particular job.
Therefore, intrinsic nature of the work is concerned with how the employee Will be satisfy with the work.
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The great thing about IRAs is that you can withdraw money anytime you want, with no financial penalty. True False
The great thing about IRAs is that you can withdraw money anytime you want with no financial penalty is a false statement.
What is IRA?An individual retirement account refers to a savings account with tax advantages that individuals can open to save and invest in the long term.
The great thing about IRAs is that you can withdraw money anytime you want, with no financial penalty is a false statement.
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Costs such as transportation-out, sales commissions, uncollectible accounts receivable, and advertising costs are sometimes called: multiple choice downstream costs. indirect costs. upstream costs. direct costs.
Costs such as transportation-out, sales commissions etc. are sometimes called the direct costs.
What is the direct cost?Direct cost is the cost, that is directly linked with the production of goods or services.
Direct cost mainly consists of the direct labor, direct material, commissions etc.
Direct cost is incurred by the business in the making of a product or service
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What is the purpose of a warranty?
A. to protect manufacturers from consumers
B. to refund your money if you are dissatisfied with a purchase
C. to repair or replace a defective purchase or item
D. to make businesses follow laws
The correct option is C. The purpose of a warranty is to repair or replace a defective purchase or item. A warranty is the written assurance of a product's or service's quality as given to a consumer by the manufacturer or service provider. Insofar as the warranty's provisions stipulate, warranties offer clients legally guaranteed service replacement or issue a correction for the period of the warranty.
What is the difference between a guarantee and a warranty?The primary distinction between a guarantee and a warranty is that the former is normally cost-free while the latter typically charges a fee for the coverage. The beautiful thing about a guarantee is that it strengthens your legal rights under consumer law and is legally enforceable.
A warranty is a seller's promise that they will fix or replace defective goods within a set period. A guarantee is a seller's assurance that a product will satisfy particular performance or quality requirements. If not, a repair or replacement will be made.
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HELP ASAP
1. Define ethics and norms. Provide an example to illustrate how ethics and norms are related.
2. Explain the relationship between personal ethics and business ethics. How are they the same? How are they different? What role should ethics play in business decision-making?
3. Describe the role of ethics in customer relationship management.
4. What is the reason for creating a code of conduct? How is it related to a code of ethics? Provide an example of a behavior that might be addressed in a company’s code of conduct, and explain how the code aligns with specific company values.
5. How does globalization pose ethical challenges to business operations? Provide an example of the benefits of globalization and then a corresponding example explaining the problems with it. Be sure to describe who is benefitting in each of your examples.
A primary challenge for marketers in discovering the needs of prospective customers is that.
A primary challenge for marketers in discovering the needs of prospective customers is that customers may not know or be able to describe what they need and want.
What is need?Needs refers to necessity. It is what people cannot do without having them hence important for human survival where as want is what people desired and not really mandatory for them to have it
Hence, a primary challenge for marketers in discovering the needs of prospective customers is that customers may not know or be able to describe what they need and want.
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Marginal cost is equal to average total cost when a. average variable cost is falling. b. marginal cost is at its minimum. c. average total cost is at its minimum. d. average fixed cost is rising.
Answer: C
Explanation: average total cost is at its minimum
2
Select the correct answer from the drop-down menu.
Which type of college credit program does the statement describe?
The
✓program is one of the more common ways to get college credit in high school. It includes an exam
that you must take at the end of the course.
Explanation:
The
✓program is one of the more common ways to get college credit in high school.
All powder laundry detergent is packaged in small 2 oz. packets so it will be more affordable for low-income consumers. All detergent convenience packets are small enough to be sold in vending machines to make them handy for students on a tight budget living on campus. This is an example of _______.
An example of an Income segmentation is when the detergent is packaged in different size for different class of people.
What is an Income segmentation?These aspect of segmentation involves segmenting people based on what they earn and how much disposable income they have
Therefore, the example of an Income segmentation is when the detergent is packaged in different size for different class of people.
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What is one way that students can develop managerial skills.
a.making a schedule for a debate team
b.taking notes in social studies class
c.telling a friend
One of the ways students can develop managerial skills is by making a schedule for a debate team.
How can managerial skills be developed?Managerial skills comprises the know-how, knowledge and skill needed to coordinate or manage a group of people.
One of the ways that managerial skills can be acquired is by studying management course. For example, human resource management. Another way of acquiring managerial skills is by undertaking managerial roles.
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ADE Company purchased equipment on January 1, Year 1 for $325,000. The equipment is estimated to have a 4-year useful life and a $75,000 salvage value. How much depreciation expense should Joseph recognize in Year 1 related to the use of the equipment
The depreciation expense to be recognized by Joseph in year 1 is $62,500.
What is depreciation?Depreciation is the gradual fall in the value of a fixed asset over its economic life. It doesn't apply to intangible assets.
Given values:
The purchase cost of equipment: $325,000
Residual value: $75,000
Number of years of useful life: 4
Computation of depreciation expense for the year 1:
[tex]\rm\ Depreciation \rm\ expense=\frac{\rm\ Purchase \rm\ cost - \rm\ Residual \rm\ value}{\rm\ Useful \rm\ life} \\\\rm\ Depreciation \rm\ expense=\frac{\$325,000-\$75,000}{4} \\\rm\ Depreciation \rm\ expense=\$62,500[/tex]
Therefore, the amount of depreciation charge comes out to be $62,500 to be reported in year 1.
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*PLEASE HELP ME!*
Sara could practice her guitar or complete her calculus homework. She does not really want to practice her guitar but does so anyway, what is her trade-off?
practicing her guitar
completing her calculus homework
the time it took her to practice guitar.
practicing her guitar and doing her calculus homework
Answer:
C
Explanation:
A prepayment that is originally recorded as an asset will be ______.
Nighthawk theaters has 15,000 shares of stock outstanding and projected annual free cash flows of $48,200, $57,900, $71,300, and $72,500 for the next four years, respectively. after that, the cash flows are expected to increase at a constant annual rate of 1.6 percent. what is the current value per share of stock at a discount rate of 15.4 percent?
The current value per share of stock is $31.57.
What is the current value per share ?The two-stage dividend model would be used to determine the current value per share of the stock. In the two-stage dividend growth model, the first stage is characterised by high growth rate. In the second stage, the high growth rate falls to a steady or normal growth rate
Total cash flows in the second stage of constant growth: (72,500 x 1.016) / (0.154 - 0.016) = 533,768.12
Now determine the present value of the cash flows:
($48,200 / 1.154) + ($57,900 + 1/154²) + $71,300/ 1.154³ + ($72,500 / 1.154^4) + (533,768.12 / 1.154^4) = $473,495.26
Current value per share = $473,495.26 / 15,000 = $31.57
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If a company is in new york city, and a qualified applicant lives across the country in california, what would be the most cost effective interview format to use? a. distance interview b. performance interview c. group interview d. behavioral interview please select the best answer from the choices provided a b c d
Answer:
Answer: Distance Interview
Explanation:
As the company is situated in New York city and the candidate for the interview lives in California the company can choose distance interview. Distance interviews can be telephone interviews or video interviews or screen sharing to know about the candidate's knowledge.
This is a cost saving method and quick method rather than inviting the candidate to New York office for which the company has to pay for the travelling expenses. So this would be the most effective way for the applicant as well as the company.
Explanation:
Select the question that can be answered using only raw data. Multiple choice question. Which of the perishable items used by a restaurant should be ordered first? What is the lowest sales per week compared with the economic interest rates? What is the date, amount sold, and customer number for a sale transaction?
The question that can be answered using only raw data is C. What is the date, amount sold, and customer number for a sale transaction?
What is raw data?Raw data refers to data that has not been processed for use.
For example, unlike the perishable items to be ordered first or the lowest sales per week data, the data on the date, amount sold, and customer number for a sale transaction remain unprocessed and therefore raw.
Thus, the question that can be answered using only raw data is C. What is the date, amount sold, and customer number for a sale transaction?
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Jeff, the owner of a business, withdrew $100 from the business for personal use. How would this affect the total equity of his business
Answer:
Jeff invests an additional $100 into his company from his personal checking account. How would this affect the equity of his business? Common stock would be increased and total equity would also increase J. Brown paid $40 to its stockholders.
The owner has effectively withdrawn part of their equity as inventory. The drawings account is a temporary account and is cleared at the end of each year either by a debit against the capital account, repayment by the owner or against the salary of the owner, depending on the circumstances of the original goods withdrawal.
Explanation:
Jeff, the owner of a business, withdrew $100 from the business for personal use. His total equity will get reduce. and his withdrawal from the business would rise.
What is a business?A business is an organization that engages in commercial, industrial, or professional activities with the aim of earning a profit. The businesses come in various sizes and forms, including sole proprietorships, partnerships, corporations, and limited liability companies.
The primary objective of most businesses is to create and deliver products or services that meet the needs or wants of their customers while generating revenue and profits for the owners or shareholders.
Jeff who is the owner of a business. If he withdrew $100 from the business for personal use. His total equity will get reduce.
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