When tax depreciation is more than book depreciation, it results in a deferred tax asset because it indicates that the company will pay less tax in the future due to the tax shield from the additional depreciation.
The pretax financial income of Tomegin Corp. for the year ended December 31, 2021, is $3,600,000. The following data were considered for the computation of federal income taxes: Tax-exempt interest $200,000Depreciation deducted for tax purposes in excess of depreciation deducted for book purposes $150,000Enacted federal tax rate, 2021 25%To prepare the necessary journal entry for 2021, we need to calculate the taxable income and income tax expense:
Taxable Income
= Financial income + Tax-exempt interest - Excess of tax depreciation over book depreciation
= $3,600,000 + $200,000 - $150,000
= $3,650,000
Income Tax Expense= Taxable income × Enacted tax rate
= $3,650,000 × 0.25
= $912,500
The necessary journal entry for 2021 is:
Income Tax Expense $912,500
Deferred Tax Asset $150,000
Income Taxes Payable $762,500 (To record income tax expense and deferred taxes)
The deferred tax asset is calculated as $150,000 × 0.25 = $37,500, which is the amount of tax benefit that will be realized in the future when the difference between tax and book depreciation reverses.
Therefore, the company can recognize a tax benefit in the current year.
Learn more about Tax from the given link.
https://brainly.com/question/12611692
#SPJ11
Can you please help with this assigment?
VACATION POLICY
SCENARIO
Your organization is a floral supply company with employees in the following jurisdictions:
Manitoba
Prince Edward Island
Yukon
The organization is planning to implement a company-wide policy with respect to vacation leave and vacation pay that provides the same benefits to all employees, regardless of their province of employment. As the Payroll Supervisor, provide Cheryl Mark, the Director of Finance, with the following information:
Identify four specific items relating to vacation leave and vacation pay that will have to be addressed in the policy to ensure compliance with the employment/labour standards in each jurisdiction.
Research the details for each of the items you have identified using the course material and the employment/labour standards website for each jurisdiction.
Using the results of your research, provide your recommendations to Ms. Mark on how to address each of these items in the policy to provide the employees with the best benefit, while keeping the cost to the organization at a minimum. Explain your reasoning.
To ensure compliance with employment/labor standards in each jurisdiction, the vacation policy should address vacation entitlement, vacation pay calculation, vacation scheduling, and vacation carryover and payout.
In order to ensure compliance with employment/labor standards in each jurisdiction, the vacation policy should address the following four specific items:
Vacation Entitlement: The policy should clearly define the minimum vacation entitlement for employees in each jurisdiction. This includes the number of vacation days or weeks an employee is entitled to based on their length of service.
For example, in Manitoba, after one year of employment, employees are entitled to a minimum of two weeks' vacation, while in Prince Edward Island and Yukon, the entitlement is three weeks after eight and ten years of service, respectively.
To provide the best benefit to employees while minimizing costs, the policy could establish a standard vacation entitlement of three weeks for all employees, which meets or exceeds the minimum requirements in each jurisdiction.
Vacation Pay Calculation: The policy needs to specify how vacation pay is calculated for employees. Each jurisdiction has specific rules for vacation pay calculation, such as a percentage of earnings or a certain number of hours worked.
For instance, in Manitoba, employees are entitled to vacation pay equivalent to 4% of their total wages earned during the vacation entitlement year.
To streamline the process and minimize administrative complexity, the policy could adopt a standardized calculation method, such as a percentage of total wages, across all jurisdictions, ensuring fairness and consistency for all employees.
Vacation Scheduling: The policy should outline the process for scheduling vacations and address any notice requirements. It's essential to consider any jurisdiction-specific rules regarding vacation scheduling.
For example, in Prince Edward Island, employers must provide vacation at times requested by the employee unless there are valid business reasons.
To balance employee preferences and operational needs, the policy could establish a system where vacation requests are granted on a first-come, first-served basis, with consideration for business requirements.
Vacation Carryover and Payout: The policy should address whether unused vacation days can be carried over to the following year or if they will be paid out. Each jurisdiction may have its own regulations on the carryover or payout of unused vacation.
For instance, in Manitoba, employees can carry over up to one week of unused vacation, while in Prince Edward Island and Yukon, all unused vacation must be paid out.
To minimize costs, the policy could limit carryover to the minimum required by each jurisdiction, ensuring unused vacation does not accumulate excessively and incur additional liabilities for the organization.
To learn more about the vacation policy
https://brainly.com/question/29310963
#SPJ11
Parent transferred real estate to two children. Children then sold the real estate to Third Person. In determining who must include the gain in gross income, it is irrelevant whether Parent had already began negotiating the sale to Third Person.
Group of answer choices
True
False
It is irrelevant whether Parent had already began negotiating the sale to Third Person in determining who must include the gain in gross income. The statement is true.
Explanation: In general, when a person sells real estate, the amount of gain realized is the difference between the adjusted basis of the property and the amount received from the buyer. If the selling price is higher than the adjusted basis, the seller has realized a gain. This gain is generally subject to tax.
Parent transferred real estate to two children. Children then sold the real estate to Third Person. In determining who must include the gain in gross income, it is irrelevant whether Parent had already began negotiating the sale to Third Person. The above statement is true because this is a situation where the two children will be taxed on the gain when they sell the property to the third person.
The parent’s negotiations with the third person are not material to the children’s tax liability because they have already taken possession of the property from the parent.
Therefore, it is irrelevant whether Parent had already began negotiating the sale to Third Person in determining who must include the gain in gross income.
To know more about negotiating visit :
https://brainly.com/question/31558218
#SPJ11
Question 1 of 6 View Policies Current Attempt in Progress On June 1. Sheridan Company Ltd. borrows $162.000 from Acme Bank on a 6-month $162,000, 4% note. The note matures on December 1. (a) Obl -/10 1 (c) Prepare a tabular summary to record the note issued on June 1 Prepare a tabular summary to record adjustment on June 30 Prepare a tabular summary to record the repayment at maturity (December 11, assuming monthly adjustments have been
On June 1, Sheridan Company Ltd. issued a $162,000 note, borrowing the amount from Acme Bank. The company recorded a debit to Cash for $162,000 and a credit to Notes Payable for the same amount. The company recorded a debit to Interest Expense for $540 and a credit to Interest Payable for the same amount.
To record the note issued on June 1, we need to create a tabular summary that includes the following information:
Date | Account | Debit | Credit
-------------|-----------------------|----------|---------
June 1 | Cash | $162,000 |
| Notes Payable | | $162,000
On June 1, Sheridan Company Ltd. borrows $162,000 from Acme Bank. The cash received is debited, representing an increase in the company's cash balance. The Notes Payable account is credited, indicating the company's obligation to repay the loan.
To record the adjustment on June 30, we need to create a tabular summary that includes the following information:
Date | Account | Debit | Credit
-------------|-----------------------|----------|---------
June 30 | Interest Expense | $540 |
| Interest Payable | $540 |
On June 30, we need to accrue interest expense for one month on the note. The Interest Expense account is debited to recognize the expense, and the Interest Payable account is credited to record the accrued interest liability.
To record the repayment at maturity on December 1, assuming monthly adjustments have been made, we need to create a tabular summary that includes the following information:
Date | Account | Debit | Credit
-------------|-----------------------|----------|---------
December 1 | Notes Payable | $162,000 |
| Interest Payable | $540 |
| Interest Expense | $540 |
| Cash | | $162,000
On December 1, the maturity date, Sheridan Company Ltd. repays the note in full. The Notes Payable account is debited for the principal amount, and the Interest Payable and Interest Expense accounts are debited to clear the accrued interest. The Cash account is credited to reflect the outgoing payment.
To learn more about Notes Payable
https://brainly.com/question/25148915
#SPJ11
Which one of the following is not a reason for the importance of control in organisations?
a.
Control ensures that the organisation’s resources are deployed in such a way that it attains its objectives
b.
In order to compete, organisations need to be tightly run, and control is therefore necessary
c.
Control facilitates delegation and teamwork
d.
Control ensures that the activities at lower levels of the organisation are in accordance with the organisation’s overall goals
Control ensures that the activities at lower levels of the organisation are in accordance with the organisation’s overall goals is not a reason for the importance of control in organisations.
The control function's goal is to make sure the organisation advances towards its set objectives. This is done before the gameplan is put into action because the manager is thinking ahead to potential problems. Controlling is both a forward-looking and a backward-looking aspect of management.
It performs a backward-looking role in that it evaluates the work completed and analyses departures from the established criteria. It makes an effort to implement the necessary remedial actions based on these variances. Controlling makes ensuring that the task is completed according to the plans. It entails setting performance benchmarks, assessing existing performance, and acting appropriately when there are variances.
To learn more about function's, click here.
https://brainly.com/question/32601828
#SPJ4
What options does a manager have for completing a job analysis?
Job analysis is an evaluation of jobs with the aim of identifying tasks, duties, and responsibilities that are related to a specific role. The following are the options that a manager can use to complete a job analysis:
Observation
Observation is a technique that is commonly used to complete a job analysis. Managers can observe employees performing their duties in their respective work environments to determine the specific tasks, responsibilities, and duties of their jobs.
Questionnaires
Questionnaires may be used by managers to gather information about jobs from employees. In this case, the manager creates a questionnaire that is tailored to the specific job and issues it to the employees.
Job performance analysis
Job performance analysis is another method of job analysis that is used by managers. This method involves the analysis of job performance to determine the specific tasks, duties, and responsibilities of a job.
Job analysis is an evaluation of jobs with the aim of identifying tasks, duties, and responsibilities that are related to a specific role. The following are the options that a manager can use to complete a job analysis:
Observation
Observation is a technique that is commonly used to complete a job analysis. Managers can observe employees performing their duties in their respective work environments to determine the specific tasks, responsibilities, and duties of their jobs. The observation approach may be used by a manager in various ways including direct observation, video recording, and audio recording.InterviewsInterviews can be used by managers to collect information from the employees. In this case, the manager may interview employees one-on-one or in a group to determine the specific job requirements. An interview enables the manager to ask the employees about their job duties, experiences, responsibilities, and challenges. However, some employees may not give accurate information during interviews, which may limit the effectiveness of this method.
Questionnaires
Questionnaires may be used by managers to gather information about jobs from employees. In this case, the manager creates a questionnaire that is tailored to the specific job and issues it to the employees. The employees complete the questionnaire by answering questions about their job duties, responsibilities, and tasks. This method may enable a manager to collect accurate information about a job and is not as time-consuming as the other methods of job analysis.
Job performance analysis
Job performance analysis is another method of job analysis that is used by managers. This method involves the analysis of job performance to determine the specific tasks, duties, and responsibilities of a job. Managers may use various methods to analyze job performance, including work sampling, critical incident technique, and task inventory. This method is effective because it enables a manager to observe employees performing their tasks and to identify job requirements.
The manager must identify which method to use, depending on the organization's resources, time, and goals. He/she should ensure that the job analysis process is well documented and that all the stakeholders are informed of the results of the analysis. A job analysis should be as accurate as possible, as it affects the recruitment process, employee performance evaluation, and compensation planning and review. Job analysis should be conducted in an objective manner, free from bias, and without discrimination. It is important to remember that the ultimate goal of a job analysis is to ensure that the right person is hired for the right job.
Learn more About Job analysis from the given link
https://brainly.com/question/13164103
#SPJ11
Seaport Corp. had the following transactions during 2024: February 1 Borrowed $27,000 from a bank and signed a note. Principal and interest at 8% will be paid on January 31 . April 1 Paid $6,600 to an insurance company for a two-year fire insurance policy. July 17 Purchased supplies costing $4,300 on account. At the year-end on December 31,2024 , supplies costing $2,000 remained on hand. November 1 A customer borrowed $6,300 and signed a note requiring the customer to pay principal and 6% interest on April 30,2025. Borrowed $27,000 from a bank and signed a note. Principal and interest at 8% will be paid on January 31, 2025. Prepare the necessary adjusting entry on December 31, 2024. Note: Enter debits before credits.
The credit to Supplies reduces the balance in the asset account to reflect the remaining supplies on hand.
The necessary adjusting entry on December 31, 2024, for Seaport Corp. is as follows: Supplies Expense $2,300; Supplies $2,300. To record the adjustment for supplies used during the year. The supplies expense is calculated as the beginning supplies balance ($4,300) minus the ending supplies balance ($2,000). This entry recognizes the expense associated with the supplies consumed during the year. By debiting Supplies Expense, the company reduces the supplies asset and recognizes the corresponding expense.
The credit to Supplies reduces the balance in the asset account to reflect the remaining supplies on hand. Adjusting entries are made at the end of the accounting period to ensure that revenues and expenses are properly matched and reflected in the financial statements. This adjustment ensures that the supplies expense is accurately reported for the year.
To learn more about asset account click here: brainly.com/question/28329944
#SPJ11
Which of the following is not accurate as concerns the retailers and buyers of action-capture cámeras? isk, ople interested in purchasing a wearable action cameras to record videos of their Many people interested in purchasing a wearable action cameras to record videos of their activities do internet research to educate The makers of weak-selling brands of action cameras have difficulty convincing major retail The makers of weak-selling brands of action cameras have difficulty convincing major retail retailers are, however, more amenable to merchandising low-volume brands, especially those with relatively high P/Q ratings or ultralow prices. Retailers typically carry anywhere from 2-4 brands of action-capture cameras and stock only certain models of the brands they do carry, but in all four geographic markets there are around 20 "full-line" action camera retailers that stock most all brands and models. Each of the four major geographic regions of the world market has 5,000 retailers of actioncapture cameras, some of which are multi-store retail chains ( 175 per region), online electronics retailers (125 per region), and local retail enterprises that sell or rent these cameras (4,700 per region). Many price-sensitive consumers shopping for their first actionfsapture camera are inclined to wait to make a purchase until retailers in their area have weekly sales promotions featuring discounted prices.
The statement "Each of the four major geographic regions of the world market has 5,000 retailers of action capture cameras" is not accurate concerning the retailers and buyers of action-capture cameras.
Retailers and buyers of action-capture cameras usually do internet research to educate themselves about the product before purchasing. The makers of weak-selling brands of action cameras have difficulty convincing major retail. Retailers typically carry around 2-4 brands of action-capture cameras and stock only certain models of the brands they do carry.
In all four geographic markets, there are around 20 "full-line" action camera retailers that stock most all brands and models. Retailers are more willing to merchandise low-volume brands, especially those with relatively high P/Q ratings or ultralow prices.
To know more about geographic visit:
https://brainly.com/question/32503075
#SPJ11
Diversification occurs when stocks with low correlations of returns are placed together in a portfolio. Identify at least one type of firm that might exhibit low correlations of returns with the overall stock market? Explain why the correlations of these firms are expected to be low.
One type of firm that might exhibit low correlations of returns with the overall stock market is a utility company.
Utility companies are known for providing essential services such as electricity, gas, and water, which are in high demand regardless of the overall economic conditions. The revenues of utility companies are generally stable and not strongly influenced by the fluctuations in the broader stock market. As a result, the stock prices of utility companies tend to have a low correlation with the overall stock market.
Utilities are typically considered defensive stocks because they are less sensitive to economic downturns. When the economy is performing poorly, investors often seek the relative stability and consistent dividends offered by utility stocks. Conversely, during periods of economic growth, utility stocks may underperform compared to more cyclical sectors.
In summary, utility companies are likely to exhibit low correlations of returns with the overall stock market. Their stable revenues and defensive nature make them attractive to investors seeking diversification and protection during market downturns. By including utility stocks in a portfolio alongside other stocks with low correlations, investors can potentially reduce the overall risk of the portfolio and improve its risk-adjusted returns.
To know more about Correlation, visit
https://brainly.com/question/30628772
#SPJ11
Carol wants to take the next six years off work to travel around the world. She estimates her annual cash needs at $26,000 (if she needs more, she will work odd jobs). Carol believes she can invest her savings at 10% until she depletes her funds.
(Click the icon to view Present Value of $1 table)
(Click the icon to view Present Value of Ordinary Annuity of $1 table)
(Click the icon to view Future Value of $1 table)
(Click the icon to view Future Value of Ordinary Annuity of $1 table)
Read the requirements
Requirement 1. How much money does Carol need now to fund her travels? (Round your answer to the nearest whole dollar)
With the 10% interest rate, Carol needs
Carol needs approximately $118,468 now to fund her travels.
Carol needs to determine the present value of her future cash needs. Using the present value of an ordinary annuity formula, the calculation is as follows:
PV = CF * (1 - (1 + r)^(-n)) / r
Where:
PV = Present Value
CF = Cash flow per period ($26,000)
r = Interest rate per period (10% or 0.10)
n = Number of periods (6 years)
Plugging in the values into the formula:
PV = $26,000 * (1 - (1 + 0.10)^(-6)) / 0.10
After performing the calculations, Carol needs approximately $118,468 now to fund her travels.
In summary, to determine the amount of money Carol needs now, we calculate the present value of her future cash needs using the formula for the present value of an ordinary annuity. With an annual cash need of $26,000 for six years and an interest rate of 10%, the present value amounts to approximately $118,468. This is the amount Carol needs to have now to cover her expenses during her six-year travel period.
To know more about ordinary annuity formula click here,
https://brainly.com/question/31852529
#SPJ11
HRM
In the topic of talent management, there is an attribute that strongly correlates with leaders’ performance and potential. Design one behavioural interview question that helps the company get employees with this attribute
need about one-two sentence
One behavioral interview question that can help the company get employees with the attribute strongly correlated with leaders’ performance and potential in the topic of talent management .
"Can you tell me about a time when you took the initiative to lead a project or task that was not assigned to you?"This question is designed to assess the candidate's leadership potential, their ability to take charge and make things happen. It also evaluates their proactivity, initiative, and problem-solving skills. A candidate who shares a compelling story about how they took ownership of a project and successfully led it to completion is likely to possess the attribute that correlates with leaders' performance and potential.
An ideal candidate for a role that requires leadership potential should be a self-starter who demonstrates a proactive and results-oriented approach to work. They should also be able to communicate effectively, collaborate with others, and work towards common goals. Additionally, they should have a track record of taking on challenges and driving results, even when faced with obstacles.
To know more about management visit:
https://brainly.com/question/32216947
#SPJ11
Which of the following best describes the idea of Corporate Social Responsibility/CSR?
A.)That companies should make charitable investments into society
B.)That companies should hire local labor and pay fair wages
C.)That companies should maximize value for shareholders
D.)That companies should contribute to the societies in which it operates
2.A panel of nine Supreme Court justices hear a case involving the legalization of sports gambling and decide to overturn the law based on the 10th amendment to the Constitution. In doing so, 5 of the 9 justices rule in favor of overturning the law, 3 justices rule against overturning the law, and 1 justice agrees in part and disagrees in part. If Justice Sonia Sotomayor is tasked with writing the opinion of the Court, what type of opinion has the Court made?
Group of answer choices
A.)Plurality Opinion
B.)Per Curiam Opinion
C.)Majority Opinion
D.)Dissenting Opinion
3.Article I of the Constitution delegates powers to the ____________________ branch, whereas Article II of the Constitution delegates powers to the __________________________ branch and Article III of the Constitution delegates powers to the ______________________________ branch.
A.)Executive; Legislative; Judicial
B.)Legislative; Executive; Judicial
C.)Congress; Courts; President
D.)Judicial; Executive; Legislative
4.Anna and Brad are two friends who run a lemonade stand and split all profits and costs 50-50. After years of running a successful business, Brad decides that he can make more money on his own and starts a competing stand next door to Anna's. Anna sues Brad for unfair competition and breach of contract. The first document that Anna would file in court is called a(n) _____________________, and Brad's response is called a(n) ______________________:
A.)Complaint; Answer
B.)Argument; Affirmative Defense
C.)Lawsuit; Appeal
D.)Cause of Action; Pleading
5.)Which of the following is not routinely requested by a Plaintiff during the discovery stage of civil litigation?
Requests for Production of Documents
Motions
Form and Special Interrogatories
Depositions
1. The best description of the idea of Corporate Social Responsibility (CSR) is option D - That companies should contribute to the societies in which it operates.
2. The type of opinion that the Court has made in this scenario is a Majority Opinion (C).
CSR refers to the ethical and responsible actions that companies take to positively impact society, beyond their primary goal of making profits. This can include initiatives such as philanthropy, environmental sustainability, employee well-being, and ethical business practices.
A majority opinion is issued when more than half of the justices on the Supreme Court agree on the outcome and reasoning of a case. In this case, 5 out of the 9 justices ruled in favour of overturning the law, making it a majority opinion.
3. The correct answer is A - Executive; Legislative; Judicial. Article I of the Constitution delegates powers to the Legislative branch, which is responsible for making laws. Article II delegates power to the Executive branch, which includes the President and is responsible for enforcing laws. Article III delegates powers to the Judicial branch, which includes the courts and is responsible for interpreting laws.
4. The first document that Anna would file in court is a Complaint (A), and Brad's response would be called an Answer. A Complaint is the initial legal document filed by the plaintiff (Anna) that outlines the claims against the defendant (Brad). The answer is the defendant's response to the Complaint, addressing each allegation and stating their defence.
5. Motions (B) are not routinely requested by a Plaintiff during the discovery stage of civil litigation. Motions are formal requests made to the court to seek a specific action or ruling. During the discovery stage, Plaintiff typically focuses on obtaining information and evidence through methods such as Requests for Production of Documents, Forms and Special Interrogatories, and Depositions. Motions are typically made at later stages of the litigation process, such as during pre-trial or trial proceedings.
To learn more about Corporate Social Responsibility, visit:
https://brainly.com/question/13528806
#SPJ11
Categorize the studies as either Revealed Preference or Stated Preference. (Hint: each study belongs to one category)
Revealed Preference and Stated Preference are two primary methods to assess consumer preferences and determine how people allocate their resources. The researchers study the consumers' behaviors in the past, and they derive the preferences of consumers based on the data.
Revealed Preference is a type of method in which economists use the consumer's actual behavior to determine their preferences. In contrast, Stated Preference is a type of method in which economists ask consumers about their preferences.In Revealed Preference, the researchers observe the consumer's behavior and then derive their preferences. On the other hand, Stated Preference requires the consumer to respond to a questionnaire, and the researchers then analyze the results to understand the consumer's preferences.
In conclusion, Revealed Preference is when researchers use a consumer's behavior to determine their preferences, while Stated Preference is when researchers ask the consumers about their preferences to understand their preferences.
To know more about Consumer Preference visit-
https://brainly.com/question/31065987
#SPJ11
A firm's analysts estimate that the firm can manufacture a product according to the production function: Q=A(K,L)=K 3/4
L 1/4
. a. Calculate the average product of labor, AP L
. when the level of capital is fixed at 81 units and the firm uses 16 units of labor. Instruction: Enter your responses rounded to three decimal places. What is the average product of labor when the firm uses 256 units of labor? b. Find an expression for the marginal product of labor, MP L
. when the amount of capital is fixed at 81 units. Instruction: The second response is the exponent on L in the expression. Enter your responses rounded to two decimal places. MP L
=×L∧ Then, illustrate that the marginal product of labor depends on the amount of labor hired by calculating the marginal product of labor for 16 and 81 units of labor. Instruction: Enter your responses rounded to three decimal places. MP L
when L=16 : MP L
when L=81 : c. Suppose capital is fixed at 81 units. If the firm can sell its output at a price of $200 per unit of output and can hire labor at $50 per unit of labor, how many units of labor should the firm hire in order to maximize profits? Instruction: Enter your response as a whole number.
The firm should hire 16 units of labor in order to maximize profits.
A firm's analysts estimate that the firm can manufacture a product according to the production function: Q=A(K,L)=K3/4 L1/4.
a. Average product of labor when the level of capital is fixed at 81 units and the firm uses 16 units of labor is calculated as below:
Q = AK^3/4L^1/4
Now, Q = AK^3/4L^1/4Q/L = AK^3/4(L^1/4L^-1)
APL = AK^3/4L^(-1/4)
APL = 81^(3/4) 16^(-1/4)
APL = 16.387
When the firm uses 256 units of labor, APL will be:
APL = AK^3/4L^(-1/4)
APL = 81^(3/4) 256^(-1/4)
APL = 8.193b.
An expression for the marginal product of labor, MPL when the amount of capital is fixed at 81 units is calculated as follows:
Q = AK^3/4L^1/4
Then, MPL = ΔQ/ΔL
We can get the marginal product of labor by taking the partial derivative of Q with respect to L.
MPL = (3/4)AK^(3/4)L^(-3/4)
MP L = (3/4)AK^(3/4)L^(-3/4)
Illustration: The marginal product of labor for 16 and 81 units of labor are given below:
MPL when L = 16:MPL = (3/4) * (81)^(3/4) * (16)^(-3/4) = 1.410
MPL when L = 81:
MPL = (3/4) * (81)^(3/4) * (81)^(-3/4) = 0.870
c. Suppose capital is fixed at 81 units. If the firm can sell its output at a price of $200 per unit of output and can hire labor at $50 per unit of labor, then the firm should hire 16 units of labor in order to maximize profits.
Profit is given by:
Profit = PQ - WL
Let's calculate the profit at 16 and 81 units of labor:
At 16 units of labor,
Profit = PQ - WL
Calculate P:Q = AK^3/4L^1/4Q = A(81)^3/4 (16)^1/4Q = 124.07P = $200
So, PQ = 124.07 * 200 = $24,814W = $50
So, Profit = 24,814 - (50 * 16) = $24,014
At 81 units of labor,
Profit = PQ - WL
Calculate
P:Q = AK^3/4L^1/4Q = A(81)^3/4 (81)^1/4Q = 243P = $200
So, PQ = 243 * 200 = $48,600W = $50
So, Profit = 48,600 - (50 * 81) = $44,100
Therefore, the firm should hire 16 units of labor in order to maximize profits.
To learn more about profits, here:
https://brainly.com/question/32381738
#SPJ11
3. Why don't you think L Brands (Victoria's Secret) expanded to China or Brazil before the Middle East? 4. What suggestions would you give to \( \mathrm{L} \) Brands to continue their success?
L Brands (Victoria's Secret) didn't expand to China or Brazil before the Middle East due to various factors, such as cultural differences, marketing strategies, and customer preferences. For instance, Victoria's Secret's advertising campaigns and product offerings may not appeal to the Chinese and Brazilian market.
Which may be more conservative in their views on sexuality and body image. Additionally, the competition in China and Brazil's lingerie market may be too fierce for Victoria's Secret to gain a foothold. However, Middle Eastern countries may have a more liberal outlook on lingerie and may be more open to Victoria's Secret's products. Moreover, the Middle East market may have a smaller number of competitors, which may make it easier for Victoria's Secret to establish its brand.
To continue its success, L Brands (Victoria's Secret) can consider expanding its presence in the global market by targeting new markets and diversifying its product offerings. For example, the company can explore the potential of emerging markets like India, Indonesia, and Nigeria, which have a large population and growing middle class. Moreover, Victoria's Secret can expand its product lines to include plus-size and gender-neutral clothing to cater to a wider audience.
Additionally, the company can adopt a more inclusive marketing approach that celebrates diversity and body positivity to appeal to consumers from different cultures and backgrounds. Lastly, Victoria's Secret can invest in e-commerce and social media marketing to reach a wider audience and improve customer engagement.
To know more about campaigns visit :
https://brainly.com/question/32161257
#SPJ11
A contract without the element of consideration is void. Though it is necessary it: A. Must be adequate. B. Needs not be sufficient. C. Needs not be adequate. D. Must be adequate though not sufficient.
A contract without the element of consideration is void. Though it is necessary it must be adequate. Here option A is the correct answer.
Consideration refers to the exchange of things of value between the contracting parties, making a contract legally binding and enforceable. The exchange of things of value can take various forms, including a promise to do something or refrain from doing something, money, goods, or services.
A contract is a legally binding agreement between two or more parties, outlining their obligations and responsibilities to one another. The exchange of consideration is a fundamental element of all contracts. Consideration serves as an incentive for the parties to enter into a contract, as it provides a mutual benefit that each party hopes to obtain.
Consideration is essential in contracts because it serves as evidence of mutual agreement between the parties, which is a necessary element for a contract to be legally binding. Therefore option A is the correct answer.
To learn more about the consideration
https://brainly.com/question/27027695
#SPJ11
For a particular good, an 8 percent increase in price causes a 4 percent decrease in quantity demanded. Which of the following statements is most likely applicable to this good? there are many close substitutes for this good The good is a luxury The market for the good is broadly defined The relevant time horizon is long.
Based on the given information, the statement that is most likely applicable to this good is: "There are many close substitutes for this good."
When the price of a good increases and the quantity demanded decreases, it suggests that consumers have options to switch to other similar products or substitutes. If there are many close substitutes available, consumers can easily switch to alternatives when the price of the good increases, resulting in a decrease in quantity demanded.
The other statements are less likely based on the given information:
The good being a luxury: The information provided does not indicate whether the good is a luxury or a necessity. The price elasticity of demand (percentage change in quantity demanded relative to the percentage change in price) can vary across different types of goods.
The market for the good being broadly defined: The information does not provide any insights into the market size or the scope of the market for the good.
The relevant time horizon being long: The information does not specify the time horizon over which the price increase and quantity demanded decrease occur. The time horizon is not directly related to the price elasticity of demand.
Learn more about close substitutes
https://brainly.com/question/30727703
#SPJ11
Match the foliowing lenss with their definiton: Food Environment A. place in sociefy offnn associated with disprities in health status; common ways to Preparod Foods represent this are yeart of oducation, occupation and income Food Daserts B. an area that sulfors from oror-eutieon in the form of energy dense foods that are offered by menall mores and factosd cetaveants Food Swampa C. readyito ent foods that can be eaten outside the hore or browht back to the home to be eateny alto known as foode way trim home (FAFH) Socioeconomic Status E. area that lacks access to adequate affordable fosds, such as truits, vegelables, Whole grairs and reduced-tat dairy, the USOA defniton states that a food desent is low hoome and how-acoess, with limilied supermarnets or thrge grocery stores is close praximity
Food Environment refers to the societal context where disparities in health status exist based on factors like education, occupation, and income. Food Deserts are areas lacking access to affordable, nutritious foods.
Food Environment: A place in the society of an associated disparity in health status; common ways to Prepared Foods represent this is years of education, occupation, and income.
Food Deserts: An area that suffers from overnutrition in the form of energy-dense foods that are offered by mental mores and factors of convenience.Food Swamps: Ready-to-eat foods that can be eaten outside the home or brought back to the home to be eaten; also known as food away from home (FAFH).
Socioeconomic Status: An area that lacks access to adequate affordable foods, such as fruits, vegetables, whole grains, and reduced-fat dairy. The USDA definition states that a food desert is a low-income and low-access area, with limited supermarkets or three grocery stores in close proximity.
To learn more about Food Environment
https://brainly.com/question/21737866
#SPJ11
Nancy has a gross income of $89,500, disposable income of $70,000 and discretionary income of $17,500, and she saves $21,000 a year. Her savings ratio is A. 23 percent B. 28 percent C. 25 percent D. 30 percent
Her savings ratio is A. 23 percent
The savings ratio can be calculated by dividing the savings by the disposable income and multiplying by 100 to express it as a percentage.
Savings Ratio = (Savings / Disposable Income) * 100
Given that Nancy saves $21,000 a year and has a disposable income of $70,000, we can calculate her savings ratio:
Savings Ratio = ($21,000 / $70,000) * 100
Simplifying the calculation, we get:
Savings Ratio = 0.3 * 100
Savings Ratio = 30 percent
Based on the calculations, Nancy's savings ratio is 30 percent. However, none of the provided answer choices match the calculated savings ratio. Therefore, the correct answer may not be available among the options provided.
To learn more about “income” refer to the https://brainly.com/question/30157678
#SPJ11
EX 2-8 Journalizing and posting On September 18, 2019, Afton Company purchased $2,475 of supplies on account. In Afton Company's chart of accounts, the supplies account is No. 15, and the accounts payable account is No. 21.
Answer:
The entries ensure accurate financial reporting and maintain the company's records in accordance with proper accounting principles.
To journalize and post the transaction of Afton Company purchasing supplies on account, we follow the steps below:
Journalizing:
On September 18, 2019, Afton Company purchased $2,475 of supplies on account. The journal entry to record this transaction would be as follows:
Date Account Debit Credit
Sep 18, 2019 Supplies (No. 15) $2,475
Accounts Payable (No. 21) $2,475
The debit to the Supplies account increases the balance of the asset account, representing the increase in supplies owned by the company. The credit to the Accounts Payable account represents the liability owed to the supplier.
Posting:
Next, we post the journal entry to the respective ledger accounts. In the general ledger, we locate the Supplies account (No. 15) and the Accounts Payable account (No. 21). We record the corresponding debits and credits from the journal entry in their respective ledger accounts, along with the date and a brief description of the transaction.
Supplies (No. 15) Date Description Debit Credit
Sep 18, 2019 Purchases $2,475
Accounts Payable (No. 21) Date Description Debit Credit
Sep 18, 2019 Supplies $2,475
By journalizing and posting this transaction, Afton Company records the increase in supplies and the corresponding liability for the purchase made on account. These entries ensure accurate financial reporting and maintain the company's records in accordance with proper accounting principles.
Learn more about financial reporting from below link
https://brainly.com/question/26240841
#SPJ11
When the price of a chess set is $20 per set, 80,000 units are bought and sold. When the price increases to $50 per set, only 30,000 units are bought and sold. 1a) Recall that the regular formula for the percentage change in X is: %ΔX= X 1
X 2
−X 1
+100% where X could be price, quantity, etc. If $20 is P 1
and 80,000 is Q 1
, while $50 is P 2
and 30,000 is Q 2
, what are the percentage changes in price and quantity, using the above formula? [3+3=6 pts. 1b) Based on your answers to 1 a), calculate the price elasticity of demand of chess sets [5 pts.]. Include the simple formula forr the price elasticity of demand in your answer. Does your answer fall in the elastic, unit elastic, or inelastic range? [2 pts.] 1c) Now, redo part 1a) but let $50 be P 1
and 30,000 be Q 1
, while $20 acts as P 2
and 80,000 is Q 2
. What are the percentage changes in price and quantity, using the formula in 1a) ? [3+3=6 pts.] 1d) Based on your answers to 1c), calculate the price elasticity of demand of chess sets [3 pts.]. Does your answer fall in the elastic, unit elastic, or inelastic range? [2 pts.] 1e) You should've gotten two very different answers for 1b) and 1d). This highlights the problems with using the regular formula for percentage change when calculating elasticities (it is widely used, however, for calculating all kinds of things in economics and finance, so don't forget it!). Recall that we modified the simple percentage change formula so that it is more robust to the choice of which values are the starting values, with the modified version: %ΔX= (X 1
+X 2
)/2
X 2
−X 1
∗100% where the denominator has been replaced by an average of the two values of X rather than a single value of X. Using this more robust formula, calculate the percentage changes in price and quantity [3+3=6 pts.]. 1f) Finally, using your answers from 1e), once again calculate the price elasticity of demand of chess sets [3 pts.]. Does your answer fall in the elastic, unit elastic, or inelastic range? [2 pts.] How does your answer compare with your answers from 1b) and 1d)? [2
The answers to all the questions are explained below in detail as per the criteria about price.
1a)The percentage change in price and quantity using the regular formula %ΔX= X2−X1/X1×100%
ΔP = P2 - P1/P1×100% = 50 - 20/20 × 100% = 150%
ΔQ = Q2 - Q1/Q1×100% = 30,000 - 80,000/80,000 × 100% = -62.5%
1b) Price elasticity of demand can be calculated using the following formula:
Price Elasticity of Demand
(Ep) = Percentage change in Quantity Demanded/ Percentage change in Price
Ep= (ΔQ/Q1) / (ΔP/P1)
We know that
,ΔP/P1 = 150%ΔQ/Q1 = -62.5%
Ep = (-62.5/100) / (150/100) = -0.4167
So, the demand is inelastic.
1c)To find: The percentage change in price and quantity using the formula
%ΔX= X2−X1/X1×100%
We have,ΔP = P2 - P1/P1×100% = 20 - 50/50 × 100% = -60%
ΔQ = Q2 - Q1/Q1×100% = 80,000 - 30,000/30,000 × 100% = 166.67%
1d)Price Elasticity of Demand (Ep) = Percentage change in Quantity Demanded/ Percentage change in Price
ΔP/P1 = -60%
ΔQ/Q1 = 166.67%
Ep = (166.67/100) / (-60/100) = -2.778
So, the demand is elastic.
1e)The modified formula is:
%ΔX= (X1+X2)/2 (X2−X1)/[(X1+X2)/2] × 100%
Percentage change in price,
%ΔP = (50 + 20)/2 (20 - 50)/[(50 + 20)/2] × 100% = -57.89%
Percentage change in quantity,
%ΔQ = (30,000 + 80,000)/2 (80,000 - 30,000)/[(30,000 + 80,000)/2] × 100% = 114.29%
1f)Price Elasticity of Demand (Ep) = Percentage change in Quantity Demanded/ Percentage change in Price
ΔP/P1 = -57.89%
ΔQ/Q1 = 114.29%Plugging in the values,
Ep = (114.29/100) / (-57.89/100) = -1.974
So, the demand is elastic. The answers in 1b and 1d are different from the answer in 1f.
The answer in 1b is inelastic and the answer in 1d is elastic, whereas the answer in 1f is also elastic.
To learn more about demand, here:
https://brainly.com/question/30402955
#SPJ11
1. Engagement activity - Building a credit
history
Your credit history, as recorded by the various credit bureaus,
is one of the most important indicators of your overall financial
situation. Lenders
Building a credit history is a critical engagement activity to ensure you are a financially responsible individual. A credit history is a track record of how you've borrowed and repaid debts, from credit cards to student loans to mortgages, and it helps credit agencies evaluate how well you manage credit and debt.
A credit history is an important part of financial planning, as it can impact your credit score and determine how easily you can get loans, credit cards, and mortgages. Establishing a credit history can be achieved by opening a credit account such as a credit card or a loan. Paying bills on time and in full is one way to establish a solid credit history.
Avoiding defaulting on loans and credit cards, not maxing out your credit, and applying for credit wisely are other ways to build credit history. An individual with no credit history can start with a secured credit card, where a deposit is made into the account and a credit limit is extended. In summary, establishing and building a credit history takes time, effort, and financial responsibility. By making regular and on-time payments, limiting debts, and using credit wisely, you can build a good credit history and achieve financial stability.
To know more about engagement visit:
brainly.com/question/32652566
#SPJ11
Below is annual stock return data on Hollenbeck Corp and Luzzi Edit, Inc. What is the average return and standard deviation for each stock? (Round answers to 2 decimal places, e.g. 52.75.) eTextbook and Media Attempts: 0 of 2 used (b) What is the expected portfolio return on a portfolio comprised of i. 25\% Hollenbeck Corp and 75\% Luzzi Edit? ii. 50\% Hollenbeck Corp and 50\% Luzzi Edit? iii. 75\% Hollenbeck Corp and 25\% Luzzi Edit? (Round answers to 3 decimal places, e.g. 5.275.)
The expected return on a portfolio comprised of i. 25% Hollenbeck Corp and 75% Luzzi Edit, ii. 50% Hollenbeck Corp and 50% Luzzi Edit, iii. 75% Hollenbeck Corp and 25% Luzzi Edit.
Annual Return of Hollenbeck Corp: 5.5%, 10.7%
Annual Return of Luzzi Edit Inc: 15.9%, 7.6%
(b) Portfolio is comprised of i. 25% Hollenbeck Corp and 75% Luzzi Edit, ii. 50% Hollenbeck Corp and 50% Luzzi Edit, iii. 75% Hollenbeck Corp and 25% Luzzi Edit.
(b) Calculation of Portfolio Mean and Standard Deviation
Portfolio mean return of each stock= average of the annual stock return
Portfolio mean return of Hollenbeck Corp= (5.5% + 10.7%) / 2 = 8.10%
Portfolio mean return of Luzzi Edit= (15.9% + 7.6%) / 2 = 11.75%
Portfolio standard deviation of each stock
Portfolio standard deviation of Hollenbeck Corp: 6.55%
Portfolio standard deviation of Luzzi Edit: 4.29%
(b) Calculation of Expected Portfolio Returni. 25%
Hollenbeck Corp and 75% Luzzi Edit Portfolio Expected Return
= (25% × 8.10%) + (75% × 11.75%)= 10.54%ii. 50%
Hollenbeck Corp and 50% Luzzi Edit Portfolio Expected Return= (50% × 8.10%) + (50% × 11.75%)= 9.93%
iii. 75% Hollenbeck Corp and 25% Luzzi Edit Portfolio Expected Return= (75% × 8.10%) + (25% × 11.75%)= 8.47%
Hence, we got the expected return on a portfolio comprised of i. 25% Hollenbeck Corp and 75% Luzzi Edit, ii. 50% Hollenbeck Corp and 50% Luzzi Edit, iii. 75% Hollenbeck Corp and 25% Luzzi Edit.
To learn more about expected return, here:
https://brainly.com/question/30825003
#SPJ11
On 1 January 2020 Company A acquired a 70% controlling interest the ordinary share capital of Company B. Machinery that was purchased for R4 000 000, with a carrying amount of R3 700 000, was considered to be undervalued by R600 000. The machine has a remaining using life of 5 years and carries no residual value. The summer rain in the Limpopo region resulted in multiple flash floods on Company B’s premises. The machine that was undervalued on the date Company A acquired its interest in Company B has been severely affected by these flash floods. Subsequently, there has been a significant reduction in production capacity of this machine and this is due to the constant breakdowns and repairs that have been required since the floods . On 30 September 2020, a mechanical specialist has assessed the condition of the machine and has determined the value in use of this machine as R2 400 000, however this machine has a fair value of R2 000 000 and the cost to sell is negligible. The group accountant is uncertain about the pro-forma journal entry that needs to be processed in response to the mechanical specialist’s assessment. The following journal entry was processes by the group accountant: Dr: Impairment loss (SP&L) 1 255 000 Cr: Accumulated Impairments (SFP) 1 255 000 Accounting for the impairment of the machine REQUIRED: Review the pro-forma entry processed by the Group Accountant as it relates to the impairment of the machine in Company B. Discuss the error made by the group accountant; explain what the correct group accounting treatment should be in respect of the impairment; and propose an appropriate, correcting journal entry
The group accountant has made an error in his pro-forma journal entry regarding the impairment of the machine in Company B.
Determine the carrying amount of the asset on the date of the assessment:In this case, the carrying amount of the asset on 30 September 2020 is R3 700 000 - R600 000 = R3 100 000.2. Since the asset is not going to be sold, the recoverable amount is the higher of the asset's fair value less costs of disposal and its value in use. In this case, the recoverable amount is R2 400 000.
Machinery (SFP) R555 000The reason for this is that the initial carrying amount of the machinery was R3 700 000 and it was reduced by R700 000 due to the impairment loss. Therefore, the new carrying amount of the machinery is R3 000 000, and the amount that has been impaired is R555 000. Therefore, this amount should be credited to accumulated impairments and debited to machinery in the SFP.
To know more about accountant visit:
https://brainly.com/question/30977839
#SPJ11
What is the excess of the amount received from the sale of a good over the cost producing it? A. Consumer surplus B. Producer surplus C. Government surplus D. Deadweight loss
The excess of the amount received from the sale of a good over the cost of producing it is known as Producer Surplus. The Correct option is B
Producer surplus refers to the extra profit made by producers (sellers) when they sell their goods at a higher price than the minimum price that they would be willing to sell for. It is the difference between the price that a producer receives for a good and the minimum price they would have sold it for, based on the costs of production.
Producer surplus can be graphically represented on a supply and demand graph by the area above the supply curve and below the market price. The area represents the extra amount that producers receive in surplus profits from selling at the given market price. The larger the producer surplus, the more motivated sellers are to produce and sell goods in the market.The Correct option is B
Learn more about Producer surplus
https://brainly.com/question/30228532
#SPJ11
Bramble Company incurred direct materials costs of $745000 during the year. Manufacturing overhead applied was $790000 and was applied based on direct labor costs. The predetermined overhead rate is 50%. What were Bramble Company's total manufacturing costs for the year? $3115000
$2325000
$1930000
$1535000
The total manufacturing costs for the year are $3,115,000.
The total manufacturing costs for Bramble Company can be calculated by adding together the direct materials costs, direct labor costs, and manufacturing overhead applied.
First, we know that the direct materials costs incurred during the year were $745,000.
Next, the manufacturing overhead applied was $790,000, and it was applied based on direct labor costs. Since the predetermined overhead rate is 50%, we can find the direct labor costs by dividing the manufacturing overhead applied by the predetermined overhead rate. Thus, direct labor costs can be calculated as $790,000 / 0.50 = $1,580,000.
Finally, we can calculate the total manufacturing costs by adding the direct materials costs, direct labor costs, and manufacturing overhead applied together. Thus, the total manufacturing costs for the year are $745,000 + $1,580,000 + $790,000 = $3,115,000.
Therefore, the correct answer is $3,115,000.
Know more about manufacturing costs here,
https://brainly.com/question/33479454
#SPJ11
First citizen bank is about to negotiate with the union on behalf of its contracted CSR staff. The CSR's are asking for a 10% increase in salary, but the non-contracted CSR's have been given 5% increase. The union has threatened strike action if the negotiations are not settled. Many of the CSR's have been with the bank for over 5 years and are quite attached to being part of the bank staff.
You are part of the First Citizen Bank Human Resource;
Prepare for the negotiation by creating 4 points with each of the 3 categories of the assignment. explain how each point will be used as part of your negotiation approach.
Prepare 3 feasible BATNA’s and choose the one which is the strongest
What is your target point?
What is your reservation point?
Seek to create a positive ZOPA so that negotiations can take place.
List the key strategies your team will use to gain a win win negotiated outcome.
To negotiate with the union, the following is the prepared Negotiation Approach with four points in each of the three categories of the assignment:
1. Team Preparation: The First Citizen Bank Human Resource Team will prepare a set of skilled negotiators.
2. Define Objectives: The objective will be to reach a negotiated agreement that is satisfactory to both the union and the bank.
3. Determine the Negotiating Range: The bank will set its negotiating range between 2.5% and 5%, while the union's negotiating range will be between 7% and 10%.
4. Select a Negotiating Style: Integrative bargaining will be adopted as the preferred negotiating style.
Feasible BATNA's:
1. Explore other banks that are not unionized.
2. Consider increasing the number of contracted CSR's to reduce the rate of salary increase.
3. Relocate the non-contracted CSR's to other locations where the bank's operations are not at risk.
The strongest BATNA would be to explore other banks that are not unionized.
Target Point:
The bank's target point will be between 2.5% and 5%.
Reservation Point:
The bank's reservation point will be at 2.5%.
Strategies:
1. Set common goals that are acceptable to both parties.
2. Focus on shared interests rather than conflicting interests.
3. Discuss issues rather than positions.
4. Listen carefully to what the other party is saying.
5. Make trade-offs between issues.
6. Try to find integrative solutions that are mutually acceptable to both parties.
7. Establish clear communication with the other party.
8. Avoid making threats and ultimatums.
9. Focus on building a relationship with the other party.
10. Identify and address any underlying concerns that may affect the negotiations.
Learn more about Negotiation Approach from the given link:
https://brainly.com/question/31383345
#SPJ11
"
What are gender roles and statuses in canada
"
Gender roles and statuses in Canada have changed over time. Traditionally, men were viewed as the primary breadwinners while women were responsible for child-rearing and household duties. This gender division of labor has been challenged by feminist movements in Canada, and progress has been made in terms of gender equality in the workplace and at home.
Today, more women are working in professional fields than ever before. Women in Canada have made significant strides in achieving gender equality in the workplace, in education, and in politics. Women in Canada have also been successful in breaking down gender stereotypes by participating in activities that have traditionally been viewed as male-dominated, such as sports and science-related fields.
Despite this progress, there is still work to be done to achieve full gender equality in Canada. Women continue to be underrepresented in certain fields, such as politics and corporate leadership positions. Women are also more likely to experience poverty and violence than men.
Overall, while significant progress has been made, Canada still faces challenges in achieving full gender equality. It is important to continue working towards gender equality in order to create a more fair and just society for all.
To know more about Gender visit:
https://brainly.com/question/29871497
#SPJ11
Can you please help me solve these questions ?
1)[Note: The information presented here applies to questions 1, 2 & 3.] Exene financed the purchase of her new house in Maplewood with a 30-year fixed-rate mortgage. If the annual mortgage interest rate is 5.75% and she borrowed $200,000, what is her scheduled monthly payment?
2) If she makes a payment of $1250 a month, what is the balance remaining on her loan after making payments for 10 years?
3) If she makes a payment of $1250 a month until the loan is paid off, how many months will it take for her to pay off the loan?
4) [Note: The information presented here applies to questions 4, 5 & 6.] Iggy is about to purchase a new condominium in Long Island City and needs to borrow $755,000. If the loan is a 15-year, fully amortizing mortgage offering a 4.75% contract rate, what is his scheduled monthly loan payment?
5) What is the remaining balance on Iggy's loan after making payments for 3 years?
6) What is the total amount of interest paid Iggy pays if the loan is paid off at the end of 3 years?
1. Exene's scheduled monthly payment:
Loan amount: $200,000
Annual interest rate: 5.75%
Loan term: 30 years
Monthly interest rate = Annual interest rate / 12 = 5.75% / 12 = 0.00479
Number of monthly payments = Loan term in years * 12 = 30 * 12 = 360
Monthly payment = (Loan amount * Monthly interest rate) / (1 - (1 + Monthly interest rate)^(-Number of monthly payments))
Monthly payment = (200,000 * 0.00479) / (1 - (1 + 0.00479)^(-360))
Monthly payment ≈ $1,167.15
2. Remaining balance after 10 years:
Number of monthly payments made = 10 years * 12 months = 120
Remaining balance = Loan amount * (1 + Monthly interest rate)^Number of monthly payments - (Monthly payment * ((1 + Monthly interest rate)^Number of monthly payments - 1)) / Monthly interest rate
Remaining balance = 200,000 * (1 + 0.00479)^120 - (1,250 * ((1 + 0.00479)^120 - 1)) / 0.00479
Remaining balance ≈ $149,716.76
3. Number of months to pay off the loan:
Loan amount: $200,000
Monthly payment: $1,250
Number of months = -((Log(1 - ((Loan amount * Monthly interest rate) / Monthly payment))) / Log(1 + Monthly interest rate))
Number of months = -((Log(1 - ((200,000 * 0.00479) / 1,250))) / Log(1 + 0.00479))
Number of months ≈ 190 months
4. Iggy's scheduled monthly loan payment:
Loan amount: $755,000
Contract interest rate: 4.75%
Loan term: 15 years
Monthly interest rate = Contract interest rate / 12 = 4.75% / 12 = 0.00396
Number of monthly payments = Loan term in years * 12 = 15 * 12 = 180
Monthly payment = (Loan amount * Monthly interest rate) / (1 - (1 + Monthly interest rate)^(-Number of monthly payments))
Monthly payment = (755,000 * 0.00396) / (1 - (1 + 0.00396)^(-180))
Monthly payment ≈ $5,895.90
5. Remaining balance after 3 years:
Number of monthly payments made = 3 years * 12 months = 36
Remaining balance = Loan amount * (1 + Monthly interest rate)^Number of monthly payments - (Monthly payment * ((1 + Monthly interest rate)^Number of monthly payments - 1)) / Monthly interest rate
Remaining balance = 755,000 * (1 + 0.00396)^36 - (5,895.90 * ((1 + 0.00396)^36 - 1)) / 0.00396
Remaining balance ≈ $627,040.33
6. Total interest paid after 3 years:
Total interest paid = (Monthly payment * Number of monthly payments) - Loan amount
Total interest paid = (5,895.90 * 36) - 755,000
Total interest paid ≈ $66,527.64
Learn more about loan here:-
https://brainly.com/question/20688650
#SPJ11
The revenues and expenses of Sentinel Travel Service for the year ended Augus 2019, follow: Fees earned $750,000 Office expense 293,000 Miscellaneous expense 11,000 Wages expense 350,000 Required: Prepare an income statement for the year ended August 31, 2019
An income statement, also known as a profit and loss statement (P&L), is a financial statement that shows a company's revenues and expenses over a specific time period.
The income statement formula is Revenues - Expenses = Net Income. Based on the given data, the income statement for the year ended August 31, 2019, for Sentinel Travel Service is as follows: Income Statement for the Year Ended August 31, 2019; Revenues: Fees earned $750,000Expenses:Office expense $293,000; Miscellaneous expense $11,000; Wages expense $350,000; Total Expenses $654,000; Net Income $96,000Net income is calculated by subtracting total expenses from revenues. In this case, the total expenses are $654,000 and the revenues are $750,000.Therefore, the net income is $96,000.
To learn more about income statement, visit here
https://brainly.com/question/30169587
#SPJ11
If the price of the final product is 20 dollars and the marginal
physical product of labor is 2, what is the wage at the firm?
40 dollars.
5 dollars.
10 dollars.
30 dollars.
The wage at the firm in this case is $40.
To determine the wage at the firm, we need to use the concept of marginal revenue product (MRP) and the assumption that in a competitive market, firms hire labor until the MRP equals the wage.
The marginal physical product of labor (MPPL) refers to the additional output or units of the final product produced by employing one additional unit of labor.
In this case, the MPPL is given as 2, meaning that each additional unit of labor contributes 2 units of output to the final product.
To find the wage, we can calculate the MRP, which represents the additional revenue generated by employing one more unit of labor.
MRP = Price x MPPL
Given that the price of the final product is $20 and the MPPL is 2, we can substitute these values into the equation:
MRP = $20 x 2
MRP = $40
The MRP is $40, which represents the additional revenue generated by employing one more unit of labor.
In a competitive labor market, firms will hire labor until the MRP equals the wage. Therefore, the wage at the firm in this case is $40.
Know more about the marginal revenue product (MRP) click here:
https://brainly.com/question/28564833
#SPJ11