Answer:
a statement of the knowledge, skills, and abilities required of a person to perform a job.
Explanation:
A job specification is a written statement that describes btge educational qualifications, experience, technical skills, and communication skills required to perform a job. Also responsibilities that are required on a job are stated.
A job specification is different from a job description which is a set of different duties and responsibilities performed by one employee.
Consider the recorded transactions below.
Debit Credit
1. Accounts Receivable 8,500
Service Revenue 8,500
2. Supplies 1,750
Accounts Payable 1,750
3. Cash 9,100
Accounts Receivable 9,100
4. Advertising Expense 1,100
Cash 1,100
5. Accounts Payable 2,600
Cash 2,600
6. Cash 1,200
Deferred Revenue 1,200
Post each transaction to T-accounts and compute the ending balance of each account. The beginning balance of each account before the transactions is: Cash, $2,100; Accounts Receivable, $2,900; Supplies, $270; Accounts Payable, $2,200; Deferred Revenue, $170. Service Revenue and Advertising Expense each have a beginning balance of zero.
Final answer:
A T-account is a visual representation of a balance sheet. For a bank, assets are placed on the left side, and liabilities and net worth are placed on the right side. The net worth of the bank is the total assets minus total liabilities.
Explanation:
A T-account is a visual representation of a balance sheet that helps track the changes in specific accounts related to a transaction. For a bank, assets are placed on the left side of the T-account, and liabilities and net worth are placed on the right side. The bank's assets include reserves, government bonds, and loans, while its liabilities include deposits made by customers. The net worth of the bank is calculated by subtracting total liabilities from total assets. In this case, the bank's T-account balance sheet would show:
Bank's Assets
Reserves: $50Government Bonds: $70Loans: $500Bank's Liabilities
Deposits: $400Bank's Net Worth
Net Worth: $220Which is a crucial question about markets in a macro sense? Select one: a. Is the market large enough today to support a variety of competitors? b. What is the predicted short- and long-term growth rate? c. How many customers are in my specific niche or segment? d. Both A and B
Answer:
b. What is the predicted short- and long-term growth rate?
Explanation:
Market is a place where sellers interact with buyers to sell goods and services.
In the micro sense, markete exist to maximise profit by considering dynamics of price which is determined by demand and supply.
But in the long run the rate of short term and long term growth is the primary concern. This will help sellers plan for long term production volumes of goods based on projections. And will reduce waste that will occur in a slow growth market.
The existence of ending Work In Process Inventory necessitates the use of the 5minusstep process costing procedure. true or false
Answer:
The statement is: True.
Explanation:
The Work In Progress (WIP) Inventory represents the sources needed during the production of a good. While calculating costs for those sources it is necessary to follow the 5-steps of process costing which are the following:
1) Determine the flow of units generated.
2) Adjust the inventory to calculate the equivalent units.
3) Identify the total cost.
4) Calculate the average cost per equivalent unit.
5) Record these costs to finished units and Work in Process units.
The price tag on a tennis ball in 1975 read $0.10, and the price tag on a tennis ball in 2005 read $1.00. The CPI in 1975 was 52.3, and the CPI in 2005 was 191.3. Refer to Scenario 24-1. In 1975 dollars, a 1975 tennis ball cost $0.10 and a 2005 tennis ball cost a. $0.27, so tennis balls were cheaper in 1975. b. $0.27, so tennis balls were cheaper in 2005. c. $3.66, so tennis balls were cheaper in 1975. d. $3.66, so tennis balls were cheaper in 2005
In 1975 dollars, a 1975 tennis ball cost $0.027, so tennis balls were cheaper in 1975.
Explanation:To find the cost of a 1975 tennis ball in 1975 dollars, we need to adjust the price using the Consumer Price Index (CPI). The formula to adjust for inflation is:
Inflation-adjusted price = (Nominal price) x (CPI in year 1) / (CPI in year 2)
Using this formula, the inflation-adjusted price of a 1975 tennis ball in 1975 dollars is:
Inflation-adjusted price = $0.10 x 52.3 / 191.3
Inflation-adjusted price = $0.027
Therefore, in 1975 dollars, a 1975 tennis ball would cost $0.027, which is closer to option a. $0.27. Therefore, tennis balls were cheaper in 1975.
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The correct option is B. Using the Consumer Price Index (CPI), a 2005 tennis ball costing $1.00 would be equivalent to $0.27 in 1975 dollars. Therefore, tennis balls were cheaper in 2005 in terms of 1975 dollars.
To determine the cost of a 2005 tennis ball in 1975 dollars, we need to adjust for inflation using the Consumer Price Index (CPI). The CPI in 1975 was 52.3, and in 2005 it was 191.3. We use the formula:
Adjusted Price = Nominal Price × (CPI in starting year / CPI in ending year)
For a 2005 tennis ball costing $1.00 with a CPI of 191.3:
Adjusted Price = $1.00 × (52.3 / 191.3) ≈ $0.27
So, in 1975 dollars, a 2005 tennis ball cost approximately $0.27, meaning the correct option is b.
Pacifica Industrial Products Corporation makes two products, Product H and Product L. Product H is expected to sell 39,000 units next year and Product L is expected to sell 8,000 units. A unit of either product requires 0.81 direct labor-hours.
The company's total manufacturing overhead for the year is expected to be $1,800,000
Required:
1-a.
The company currently applies manufacturing overhead to products using direct labor-hours as the allocation base. If this method is followed, how much overhead cost per unit would be applied to each product? (Do not round intermediate calculations.Round your answers to 2 decimal places.)
Answer:
Each product will be allocated with 38.30 dollars of manufacturing overhead as both takes 0.81 DLH
Explanation:
[tex]\frac{Cost\: Of \:Manufacturing \:Overhead}{Cost \:Driver}= Overhead \:Rate[/tex]
To calcualte the overhead rate we need to distribute the expected cost over the expected cost driver, in this case, labor hours:
(39,000 + 8,000) x 0.81 DLH = 38,070 labor hous
$1,800,000 overhead / 38,070 DLH = 47,281323877
the overhead per hour is $47.28
overhead per product:
47,281323877 x 0.81 = 38,29787234 = 38.30
You bought 1,000 shares of Tund Corp. stock for $68.12 per share and sold it for $90.03 per share after a few years. How will your gain or loss be treated when you file your taxes?
As a capital gain taxed at the long-term tax rate
As a capital gain taxed at the current ordinary-income tax rate
Answer:
The gain will be treated as a capital gain taxed at the long-term tax rate.
Explanation:
Capital gain tax is paid on profit derived from selling an investment asset, like stock or bond. Under the tax law, capital gain can be taxed either at a long-term tax rate or current ordinary-income tax rate.
For a capital gain to be taxed at the long-term tax rate, the investment must have been held for more than one year and above. The tax rate under the long term range from 0% to 20%.
For the a capital gain to be taxed at the current ordinary-income tax rate, the investment must be held less than one year. When this occur,the capital gain is taxed at the ordinary income tax rate because the gain is assumed to be part of the taxable income for the year.
In the case of Tund Corp, the capital gain will be taxed at long term tax rate of 0% to 20% because the investment is held more than a year.
You just started your first job today. Besides your 401K, you are planning to save $3,000 a year for 40 years for your retirement when you receive tax returns. If the first deposit is made a year from now into an account with the annual interest rate of 8%, how much will you have in your account in 40 years? Round to the nearest cent. Do not include any unit (If your answer is $111.11, then type 111.11 without $ sign.)
Answer:
The correct answer is 777.169.56.
Explanation:
According to the scenario, the given data are as follows:
Payment per year (PMT) = $3,000
Time (N) = 40 years
Rate of interest (R)= 8%
So, the future value of the following can be calculated by using the following formula:
Future value = PMT × [tex]\frac{((1+r)^{n} -1)}{R}[/tex]
Now, put the value of the following in the formula. then,
= 3,000 × [tex]\frac{((1+8/100)^{40} -1)}{8/100}[/tex]
= 3,000 × 259.0565
= 777,169.56
Hence, the value in the account after 40 years will be 777,169.56.
Final answer:
By saving $3,000 annually for 40 years in an account with an 8% interest rate, you will accumulate approximately = 777,169.56 , calculated using the future value of an annuity formula.
Explanation:
To calculate the future value of saving $3,000 a year for 40 years in an account with an annual interest rate of 8%, we use the future value of an annuity formula. This formula is given by FV = P *[((1 + r)ⁿ - 1) / r], where P is the annual payment, r is the annual interest rate (as a decimal), and n is the number of payments.
In this case, P = $3,000, r = 0.08 (8% expressed as a decimal), and n = 40. Plugging these values into the formula gives FV = 3000 * [((1 + 0.08)⁴⁰ - 1) / 0.08],
3,000 × 259.0565 which calculates to a future value of approximately = 777,169.56
Thus, after 40 years of saving $3,000 annually at an 8% interest rate, you will have= 777,169.56 in your account.
g Which of the following situations is likely to generate noncooperative behavior in repeated games?8)A)The payoffs can change rapidly from one game period to the next.B)The game is repeated a finite number of times.C)There are many players in the game.D)All of these situations can generate noncooperative behavior.
I'm just going off of the information you have given, I would think it would be all of the above because too much of anything is mentally draining and ends up becoming menotanus.
The situations that can lead to noncooperative behavior in repeated games include: rapidly changing payoffs, finite repetitions of the game, and a large number of players.
Noncooperative Behavior in Repeated Games
In repeated games, players engage in strategic interactions multiple times, which can lead to differing levels of cooperation based on various factors. Situations that are likely to generate noncooperative behavior include: when payoffs can change rapidly from one period to the next, when the game has a finite number of repetitions, and when there are many players. Rapid changes in payoffs can make it difficult for players to predict and trust each other, thus undermining cooperation. A finite repetition of games enables a 'last period' problem, where players have no incentive to maintain cooperation in the final round, leading to a potential unraveling of cooperation backward from the last period. Lastly, with many players, the likelihood of *defection* going unpunished and untracked is higher, making noncooperative strategies more prevalent.
Noncooperative strategies are a stable choice because they prevent exploitation by another player who may choose not to cooperate. Under circumstances that make future interactions uncertain or less valuable, players have less incentive to cooperate in the present, as there is less to be gained from building a reputation for cooperation.
If a 1% change in the price of a good causes a 1% change in the quantity demanded, the good has an elasticity of demand: a. equal to 1. b. less than 1. c. equal to 0. d. greater than 1.
Answer:
a. equal to 1.
Explanation:
Elasticity of demand measures the responsiveness of quantity demanded to changes in price.
Elasticity of demand = percentage change in quantity demanded / percentage change in price.
1% / 1 % = 1
Demand is unit elastic.
I hope my answer helps you
If a taxpayer is filing H/H and qualifies for the Retirement Savings Contribution Credit, what percent of the contribution would qualify if the AGI is $29,000?
Answer:
10%
Explanation:
Adjusted gross income (AGI) is the amount arrived at after some specific allowable deductions have been deducted from the total gross income.
The Retirement Savings Contributions Credit now called the Savers Credit provides a special tax break to those who are saving for retirement and in the low-income and moderate-income taxpayers category.
The amount to deduct depends on the AGI and how regularly the individual files tax returns. The rate of tax credit which is not refundable is 10%, 20% or 50% of the first $2,000 the parson contributed to a retirement account during the year.
The table for 2019 AGI shows that a single filler with the income range of $20,751-$32,000 can have a 10% savers credit.
Since the tax payer is a single filler, he is therefore qualified for 10% of his AGI of $29,000 which $2,900.
Which statement concerning cash is true? a.Cash is increased by debiting. b.Cash will always have more debits than credits. c.Cash will never have a credit balance. d.All of these choices are correct.
Answer:
The answer is A. Cash is increased by debiting
Explanation:
Like all assets, to debit means to increase while to credit means to decrease.
There is no rule that states cash must always have more credits than debit or more debits than credits. Cash account can have more credits than debited and the balance will still be positive and vice-versa.
Cash account can have a credit balance. If this happens that means the business is owing or in debt.
The correct statement concerning cash is that it is increased by debiting. The balance of the cash account, whether it is a debit or credit balance, depends on the specifics of the transactions.
Explanation:Out of the options provided concerning cash, the accurate statement is: Cash is increased by debiting.
In the double-entry bookkeeping system, a debit entry increases an asset account, and cash is considered an asset. Thus, to increase your cash account, you would debit it.
However, the statements 'Cash will always have more debits than credits' and 'Cash will never have a credit balance' are not universally true. The balance of the cash account depends on the transactions. If there are more debits (increases) to the account than credits (decreases), then it will have a debit balance. If there are more credits than debits, it could potentially have a credit balance.
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DuPont analysis is conducted using the DuPont equation, which helps you analyze three important factors that drive a company's ROE. According to the equation, which of the following factors affect a company's ROE directly? Check all that apply.
a. perational efficiency
b. Market-to-book-value ratio
c. Efficiency in use of total assets
Answer: a. Operational efficiency
c. Efficiency in use of total assets
Explanation:ROE(RETURNS ON EQUITY) This is a term used in financial analysis,it is the percentage representation of the value of a company's NET INCOME DIVIDED BY THE VALUE OF THE SHAREHOLDERS SHARES. Both the balance sheet and the income statement is used when calculating ROE.
OPERATIONAL EFFICIENCY tries to Describe how well the management of the entire Operations is carried out. It is a major determining factor in ROE.
EFFICIENCY IN USE OF TOTAL ASSETS this is a term used to determine how well a company is effectively using it's assets. This assets can be in the form of Financial, Machines,raw materials etc.
Since ROE involves NET INCOME, efficiency in use of total assets is a major determining factor in ROE.
DuPont analysis evaluates operational efficiency and efficiency in total assets' use as essential factors for a company's Return on Equity (ROE). In contrast, the market-to-book-value ratio doesn't directly affect the ROE.
Explanation:The DuPont analysis is a performance measurement method that helps evaluate the factors driving a company's return on equity (ROE). According to the DuPont equation, a company's ROE is directly affected by three factors: the company's operational efficiency, its efficiency in the use of total assets, and financial leverage. The market-to-book-value ratio, however, is not part of the DuPont analysis and thus does not directly influence a company's ROE.
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Identify each of the following as Asset, Liability, or Equity.
a. Accounts Payable Liability
b. Cash Asset
c. Common Stock Equity
d. Accounts Receivable Asset
e. Rent Expense Liability
f. Service Revenue Equity
g. Office Supplies Asset
h. Dividends Equity
i. Land Equity
j. Salaries Expense Liability
Answer:
a. Accounts Payable Liability
b. Cash Asset
c. Common Stock Equity
d. Accounts Receivable Asset
e. Rent Expense Equity
f. Service Revenue Equity
g. Office Supplies Asset
h. Dividends Equity
i. Land Assets
j. Salaries Expense Equity
Explanation:
Assets:
The assets will be the property, plant and equipemnt owned by the company or the right or claim it has on third party to provide cash in favor of the company (accounts receivables) or services ( prepaid insurance)
Liabilities:
Will be debt or obligation to do taken from the company in exchange of soemthing
Equity:
The equity will represent the investment of the owner plus the accumualted earning thus, the revenus and income have impact on equity.
Assets like Cash and Accounts Receivable, liabilities such as Accounts Payable, and equity items including Common Stock and Dividends are identified to understand a business's financial position. Proper classification helps distinguish between resources, obligations, and owner claims. Rent and salaries expenses are not directly liabilities but affect equity.
Identifying whether an item is an Asset, Liability, or Equity is crucial for understanding the financial position of a business. Here's the classification:
Accounts Payable - LiabilityCash - AssetCommon Stock - EquityAccounts Receivable - AssetRent Expense - Expense (generally not counted as a Liability directly but impacts Equity)Service Revenue - EquityOffice Supplies - AssetDividends - EquityLand - AssetSalaries Expense - Expense (generally not counted as a Liability directly but impacts Equity)Key Definitions:
Assets are resources owned by the business that provide future economic benefits, such as Cash, Accounts Receivable, and Land.Liabilities are obligations that the business needs to settle in the future, such as Accounts Payable.Equity represents the owner's claims on the assets after all liabilities have been deducted, such as Common Stock and Dividends.You win a scratch off lottery ticket that promises to pay an initial payment of 10,000 next year and grow at a rate of 2% forever. If the discount rate is 5%, what is the present value of the lottery ticket?
Answer:
[tex]PW=\frac{10,000}{0.05-0.02}\\ PW=\$333,333.333[/tex]
Present value of lottery= $333,333.333
Explanation:
Given Data:
Initial Payment=$10,000
Rate at which payment grow=2%=0.02
Discount Rate=5%=0.05
Required:
Present value of lottery=?
Solution:
[tex]PW=\frac{Initial\ Payment}{r-g}[/tex]
where:
r is the discount rate
g is the growth rate
[tex]PW=\frac{10,000}{0.05-0.02}\\ PW=\$333,333.333[/tex]
Present value of lottery= $333,333.333
Howard is saving for a holiday. He deposits a fixed amount every month in a bank account with an EAR of 14.7%. If this account pays interest every month then how much should he save from each monthly paycheck in order to have $14,000 in the account in four years' time?
A) $176
B) $308
C) $220
D) $352
Answer:
C) $220
Explanation:
First calculate the APR using an EAR of 14.7% and monthly compounding,
which comes to 13.7937 %. Then using a periodic rate of 13.7937 /12, calculate
the payment over 48 months that gives a future value (FV) of $14,000 , which is
$110.15.
Bob: Listen, donuts are made to bring joy into our lives and to wake up our glated faculties. Just let them be distributed according to unchanging moral principles of justice. The donuts will distribute themselves according to natural principles. We just take what we want and the leftovers will be appreciated by those who enjoy them most. Don't over complicate this. Where's the chocolate milk? A) Natural law school of thought. B) Historical perspective school of thought C) Irrational forces perspective. D) Critical legal studies school of thought
Answer:
Option D
Explanation:
This type of school of thought is usually inter twinned with social issues which makes the law have social biased because it is always supporting the interest of those who create it.
Final answer:
Bob's statement aligns with the Natural law school of thought (A), where goods and services, like donuts, are believed to distribute themselves according to inherent moral principles without the need for governmental interference, reflecting Natural Law Theory.
Explanation:
Bob's statement reflects the Natural law school of thought (A), which posits that justice is a part of natural order and goods will equitably distribute themselves according to natural principles. His view suggests that distributive justice should occur with minimal governance, aligning with Natural Law Theory. Natural Law Theory emphasizes that moral principles are inherent in the behaviors corresponding with human nature and reasoning.
Principles of distributive justice play a critical role in shaping ideologies concerning what basic needs are, how resources should be allocated, and the level of governmental interference in these processes. The natural law perspective holds that there should be as little governmental interference as possible in the distribution of goods, relying on the principle of individuals acting in accordance with inherent moralities. Moreover, the idea of self-regulation without any external imposition aligns with this philosophical stance.
Bob's casual mention of donuts distributing themselves according to who enjoys them most invokes the intuition that all things, including resources and goods, should find their place in society naturally. This reflects the broad principle of Natural Law Theory, where the distribution of goods is seen as a reflection of natural justice, rather than a system built on social or governmental constructs.
Robert and Maxine Thomason are planning to purchase a new refrigerator-freezer for their new home. They have compared the quality, style, and price of four models. For the Thomasons, a refrigerator-freezer is a(n) _____ product.
A. specialty
B. generic
C. industrial
D. convenience
E. shopping
Robert and Maxine Thomason are planning to purchase a new refrigerator-freezer for their new home. They have compared the quality, style, and price of four models. For the Thomasons, a refrigerator-freezer is a(n) Shopping product (E)
Explanation:
A shopping product is a product which involves a lot of research and comparison with the similar products of other brand.
A shopping product can be categorized into
Homogeneous ProductHeterogeneous ProductHomogeneous Product are the products that share similar features,nature and the final purchase decision is based on the lowest price available in the market for that particular product
Final answer:
The refrigerator-freezer that the Thomasons are planning to purchase is regarded as a shopping product, which consumers compare thoroughly before buying.
Explanation:
For Robert and Maxine Thomason, the refrigerator-freezer they are planning to purchase for their new home is considered a shopping product. Shopping products are those for which consumers spend considerable time comparing different options, such as quality, style, and price, before making a purchase. Unlike convenience products, which are bought frequently and with minimal effort, or specialty products that have unique brand identification for which a significant group of buyers is willing to make a special purchase effort, shopping products lie somewhere in between in terms of buyer effort and product distinctiveness.
Misk Co. purchased the following securities during 2018 to be classified as held-to-maturity securities, trading securities, or available-for-sale securities: I. Debt securities bought and held for the purposes of reselling in the near future. II. U.S. Treasury bonds that Misk intends and is able to hold to maturity. III. An investment in stock that Misk does not intend to sell in the near future. Which of above securities purchased by Misk should be classified as available-for-sale securities?a. I and II onlyb. I and III onlyc. III onlyd. None of the above
Answer:
C. III only
Explanation:
Option III states An investment in stock that Misk does not intend to sell in the near future. Which of above securities purchased by Misk should be classified as available-for-sale securities?
The choice of this option alone is based on the reasoning that Available for Sale (AFS) Securities are usually presented based on their fair values. As such an increase in investment will be needed when the Fair value exceeds is more than the cost of the securities.
The other effect of the transaction of Misk Co is that it will lead to an increase in other comprehensive income.
Securities purchased by Misk Co. are classified based on their intent and ability to sell. Debt securities held for quick turnover are trading securities, Treasury bonds held until maturity are held-to-maturity securities, while a stock investment planned for long-term holding but not until maturity is classified as available-for-sale securities. Hence, 'III. An investment in a stock that Misk does not intend to sell in the near future is classified as available-for-sale securities.
Explanation:The securities purchased by Misk Co. can be classified into held-to-maturity securities, trading securities, and available-for-sale securities based on their intent and ability to sell.
I. Debt securities bought and held for the purposes of reselling in the near future. These are classified as trading securities because they are bought with the intention of reselling them in the near future to earn profit from price changes.
II. U.S. Treasury bonds that Misk intends and is able to hold to maturity. These are deemed as held-to-maturity securities because the investor intends to and is capable of holding these until their maturity date.
III. An investment in a stock that Misk does not intend to sell in the near future. These are termed available-for-sale securities because they are neither intended to be sold in the near term (like trading securities) nor held until maturity (as with held-to-maturity securities). They can be sold if necessary, but that is not the primary intention.
Therefore, based on the above classification, the answer to the question, 'Which of the above securities purchased by Misk should be classified as available-for-sale securities?' is (c.) III only.
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Formulating a Statement of Stockholders' Equity from Raw Data Gap, Inc., reports the following selected information at January 30, 2010 ($ millions).Contributed capital, Jan. 30, 2010 $2,990Treasury stock, Jan. 30, 2010 (9,069)Retained earnings, Jan. 30, 2010 10,815Accumulated other comprehensive income, Jan. 30, 2010 155During fiscal year 2011, Gap reported the following:1. Sale of stock $42. Purchase of stock 1,7973. Net income 1,2044. Cash dividends 2525. Other comprehensive income 30Use this information to prepare the statement of stockholders' equity for Gap, Inc., for year ended January 29, 2011.
To prepare the statement of stockholders' equity for Gap, Inc., for the year ended January 29, 2011, calculate the ending balances of contributed capital, treasury stock, retained earnings, and accumulated other comprehensive income by considering the changes in each component during fiscal year 2011.
Explanation:To prepare the statement of stockholders' equity for Gap, Inc., for the year ended January 29, 2011, we need to consider the changes in the different components of stockholders' equity. The statement should include information about contributed capital, treasury stock, retained earnings, and accumulated other comprehensive income.
Based on the provided data, we can calculate the ending balance for each component by considering the changes during the fiscal year 2011. Here is the statement of stockholders' equity for Gap, Inc.:
Contributed capital: January 30, 2010 balance ($2,990 million) + Sale of stock ($42 million) - Purchase of stock ($1,797 million) = Ending balanceTreasury stock: January 30, 2010 balance ($9,069 million) - Purchase of stock ($1,797 million) = Ending balanceRetained earnings: January 30, 2010 balance ($10,815 million) + Net income ($1,204 million) - Cash dividends ($252 million) = Ending balanceAccumulated other comprehensive income: January 30, 2010 balance ($155 million) + Other comprehensive income ($30 million) = Ending balanceThe statement of stockholders' equity should present these ending balances for each component, indicating the total equity at the end of the fiscal year 2011.
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When a transaction requires only a _____, there is not any actual proof that a particular person conducted that transaction. Group of answer choices
А. written signature
B. digital signature
C. password
D. driver's license
E. fingerprint scan
Answer:
C. password
Explanation:
A transaction is a business activity that involves buyers and sellers. the se two parties agree to exchange goods and services for money. Everyone needs to be on the same page when this happens ; meaning, the sellers should be willing to give out their goods and services and the buyers should be willing to to pay for the what they are interested in. A complete transaction also requires a receipt which is a proof of the exchange . Therefore, having a password is not the only requirement for a transaction.
Accounting Professionals Inc. experienced the following events in 2014, its first year of operation:1. Performed services for $20,000 cash.2. Purchased $4,000 of supplies on account.3. A physical count on December 31, 2014, found that there was $1,000 of supplies on hand.RequiredBased on this information alonea.Record the events under an accounting equation. (Enter any decreases to account balances with aminus sign.
Answer:
Explanation:
The accounting equation is presented below:
Particulars Assets = Liabilities = Stockholders equity
Cash Supplies Account payable Retained earnings
1. Service
Performed $20,000 $20,000
2. Supplies
Purchased $4,000 $4,000
3. Supplies
Used -$3,000 -$3,000
Total $20,000 $1,000 $4,000 $17,000
Mary is filing Head of Household with a taxable income of $79,280. What is her income tax for Marks: 1 2018? a. $11,989 b. $13,380 c. $9,320d. $11,978
Answer:
Option (a) $11,989
Explanation:
Data provided in the question:
Taxable income = $79,280
Now,
we should know,
Tax rate Taxable income Tax owed
10% $0 to $13,600 10% of taxable income
12% $13,601 to $51,800 $1,360 plus 12% of the amount over $13,600
22% $51,801 to $82,500 $5,944 plus 22% of the amount over 51,800
Since,
Income of $79,280 lies in the taxable income bracket of $51,801 to $82,500
Therefore,
Income tax for Marks = $5,944 + 22% of ($79,280 - $51,800 )
= $5,944 + ( 0.22 × 27480 )
= $5,944 + $6,045.6
= $11,989.6 ≈ $11,989
Hence,
Option (a) $11,989
One characteristic of Internet recruiting is:_________ Select one: a. Screens out job "browsers" b. Produces a wider applicant pool c. More expensive than newspaper advertising d. Delays applicant responses
Answer:
The correct answer is letter "B": Produces a wider applicant pool.
Explanation:
Nowadays most job positions are offered online. It is easier for companies to publish their openings on a web page and wait for applicants to massively submit their resumes. This process serves as a screening of the recruiting process since the most prospective individuals can be selected and all those whose profile does not match with what the company is looking for can be discarded.
Final answer:
Internet recruiting is characterized by its ability to produce a wider applicant pool, making job postings accessible to a global audience and increasing candidate diversity.
Explanation:
One characteristic of Internet recruiting is that it produces a wider applicant pool. Unlike traditional methods such as newspaper advertising, the internet makes it possible for job postings to reach a global audience, thereby increasing the number and diversity of applicants. Additionally, platforms like LinkedIn facilitate networking and make it easier for job seekers to find and apply for jobs, thus broadening the pool of candidates from which employers can select. Online recruiting provides access to extensive job market information, allows for faster communication, and makes it easier for employers to find suitable candidates, potentially reducing the time and costs associated with the hiring process.
Requirement 1. Match each function with its representative cost driver. Function Representative Cost Driver 1. Accounts payable ▼ 2. Recruiting 3. Network maintenance 4. Production 5. Purchasing 6. Warehousing 7. Billing
Answer:
production
Explanation:
the production is the highest of all the more afterall
A semi-annual coupon U.S. Treasury bond was purchased for settlement on November 12, 2017. The last coupon was paid on September 15, 2017. Using the ACT/ACT day count convention, answer the following questions: a. on what date will the next coupon be paid? b. how many days passed between the last coupon paid and the settlement date? c. how many days are there in the current coupon period?
Answer:
a) 15 March 2018
b) 58 days passed between the last coupon paid and the settlement date
c) There are 123 days in the current coupon period.
Explanation:
a) So, next coupon will be paid on 15 March 2018.
(b) Coupon was paid on 15th September 2017 and settleent date is November 12, 2017, hence using the ACT/ACT day count convention, the number of days passed between the last coupon paid and the settlement date is (15 days of September + 31 Days of October + 12 days of November) = 58 days.
(c) The next coupon date is 15th March 2018. Hence, the number of days in current coupon period is (18 days of November + 31 days of December + 31 days of January + 28 days of February + 15 days of March ) = 123 days
The answers to the questions are as follows:
a. The next coupon will be paid on March 15, 2018.
b. There were 58 days between the last coupon paid (September 15, 2017) and the settlement date (November 12, 2017).
c. There are 184 days in the current coupon period.
a. U.S. Treasury bonds pay coupons semi-annually, which means every six months. Since the last coupon was paid on September 15, 2017, adding six months to this date brings us to the next coupon payment date. September has 30 days, so adding six months to September 15 would be 30 days for September, plus 31 days each for October, November, December, January, and February, plus 15 days for March, totaling 184 days. However, since February has only 28 days in a non-leap year, we subtract one day, resulting in 183 days. Therefore, the next coupon payment date is March 15, 2018.
b. To calculate the number of days between the last coupon payment and the settlement date, we use the ACT/ACT day count convention, which counts the actual number of days in each month. Starting from September 15, 2017, to November 12, 2017, we have:
- The rest of September: 15 days (since September has 30 days)
- October: 31 days
- November: 12 days (up to the 12th)
Adding these up gives us a total of 15 + 31 + 12 = 58 days.
c. The current coupon period started right after the last coupon payment on September 15, 2017, and will end on the next coupon payment date, which we determined to be March 15, 2018. Using the ACT/ACT day count convention, we count the actual number of days in each month:
- September: 15 days (from the 15th to the end of the month)
- October: 31 days
- November: 30 days
- December: 31 days
- January: 31 days
- February: 28 days (in a non-leap year)
- March: 15 days (up to the 15th)
Adding these up gives us a total of 15 + 31 + 30 + 31 + 31 + 28 + 15 = 181 days. However, since we are including both the start and end dates in our count, we add one more day, resulting in 182 days. But since we subtracted one day in the calculation of the next coupon payment date due to February not being a leap year, the total number of days in the current coupon period is 184 days."
If entrepreneurs realize that all the traditional applications for their products have disappeared and that they have surplus products, which of the following elements of the SCAMPER tool are they most likely to employ?
A.Eliminate
B. Sectionalize
C.Restitute
D. Put to other uses
Answer:
The correct answer is D
Explanation:
SCAMPER tool is the technique which is an Idea Manipulation technique, that guide the business in generating diverse ideas. Instead of thinking the original ideas, this technique provokes the business to gather ideas from the divergent fields, fuse and manipulate as per the requirements.
So, in this case, the entrepreneur got to know that all the applications of the product have disappeared and the entrepreneur have the surplus products with them, so the element of the tool which they could employ is that they could put to other uses the surplus products.
In the case of surplus products and vanished conventional applications, entrepreneurs are most likely to 'Put to other uses' from the SCAMPER model. This encourages finding new uses for a product.
Explanation:If entrepreneurs find that all the traditional applications for their products have disappeared and they are left with surplus products, the element of the SCAMPER tool they are most likely to employ is 'Put to other uses'. The 'Put to other uses' option encourages exploring non-traditional uses for a product, which can help the entrepreneurs to use up their surplus. For instance, baking soda, originally used for baking, found its way into a variety of uses, such as cleaning, neutralizing odors, and health applications.
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John is ready to pay $5 for an extra loaf of bread. Due to an ongoing discount in the store, he gets a loaf for $2. John's consumer surplus from the purchase is ________.
a.$2.50
b.$10
c.$3
d.$2
Answer:
3$
Explanation:
yes
Consumer Surplus is the economic benefit a buyer gets when they pay less for a product than what they were willing to. In this instance, the consumer surplus is $3 as John was willing to pay $5 for the loaf but only paid $2.
Explanation:In economics, the term Consumer Surplus is used to define the economic benefit obtained by consumers when they are able to purchase a product for a lower price than they are willing to pay. In John's case, he was willing to pay $5 for a loaf of bread, but he only paid $2 because of the ongoing discount. Hence, the calculation of Consumer Surplus would be his willingness to pay ($5) minus the actual price paid ($2), which equals to $3. So, John's consumer surplus from this purchase is $3.
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Knowledge Check 01 Future Corporation has a single product; the product selling price is $100 and variable costs are $60. The company's fixed expenses are $10,000. What is the company's break-even point in sales dollars? A. $25,000 B. $2,500 C. $250 D. $16,667
Answer:
The company's break-even point in sales dollars is A. $25,000
Explanation:
The break-even point is the level of production at which the costs of production equal the revenues for a product and calculated by using following formula:
Break-even point in units = Fixed expense/(Selling price per unit-Variable expense per unit) = $10,000/($100-$60) = $10,000/$40 = 250 units
Break-even point in sales dollars = Break-even point in units x Selling price per unit = 250 x $100 = $25,000
Answer:
A. $25,000
Explanation:
Break even point is the level of production at which the costs incurred in production equal the revenues for a product and calculated by using following formula;
Break-Even Point (sales dollars) = Fixed Costs ÷ Contribution Margin ratio
where,
Contribution Margin ratio = (selling Price – Variable Costs)/selling price
Given;
Selling price per unit = $100
variable cost per unit = $60
Fixed cost = $10,000
Contribution margin ratio = ($100 - $60)/$100
= 0.4
Break-Even Point (sales dollars) = $10,000/0.4
= $25,000
Calculate the present value of $4,000 received five years from today if your investments pay (Do not round intermediate calculations. Round your answers to 2 decimal places. (e.g., 32.16)) Present Value a. 6 percent compounded annually $ b. 8 percent compounded annually c. 10 percent compounded annually d. 10 percent compounded semiannually e. 10 percent compounded quarterly
Answer:
A = $2,989.30
B = $2,722.33
C = $2,483.68
D = $2,455.65
E = $2,441.08
Explanation:
Given:
Future value (A) = $4,000
Present value (P) = ?
Number of Year (N) = 5.
A. R = 6% = 0.06
[tex]P=\frac{A}{(1+R/100)^N}\\P=\frac{4000}{(1+0.06)^5}\\P=\frac{4000}{(1.06)^5}\\\\P=\frac{4000}{(1.06)^5}\\P=\frac{4000}{1.33822558}\\\\P=2,989.032[/tex]
B. R = 8% = 0.08
[tex]P=\frac{A}{(1+R/100)^N}\\P=\frac{4000}{(1+0.08)^5}\\P=\frac{4000}{(1.08)^5}\\\\P=\frac{4000}{1.46932808}\\\\P=2,722.3327[/tex]
C. R = 10% = 0.1
[tex]P=\frac{A}{(1+R/100)^N}\\P=\frac{4000}{(1+0.1)^5}\\P=\frac{4000}{(1.1)^5}\\\\P=\frac{4000}{1.61051}\\\\P=2,483.6852[/tex]
D. R= 10/2 = 5% N=5*2 = 10
[tex]P=\frac{A}{(1+R/100)^N}\\P=\frac{4000}{(1+0.05)^{10}}\\P=\frac{4000}{(1.05)^{10}}\\\\P=\frac{4000}{1.62889463}\\\\P=2,455.6530[/tex]
E. R = 10/4 = 2.5% N = 5*4 = 20
[tex]P=\frac{A}{(1+R/100)^N}\\P=\frac{4000}{(1+0.025)^{20}}\\P=\frac{4000}{(1.025)^{20}}\\\\P=\frac{4000}{1.63861644}\\\\P=2,441.08377[/tex]
The present value of $4,000 received five years from now varies depending on the interest rate and the frequency of compounding. If the rate is 6% compounded annually, it's $2,988.64; if it's 8% compounded annually, it's $2,722.54; at 10% compounded annually, it's $2,488.32; at 10% compounded semiannually, it's $2,454.60; and at 10% compounded quarterly, it's $2,434.08.
Explanation:To calculate the present value of $4,000 received five years from today under different compounding scenarios, we can use the formula for present value: PV = FV / (1 + r/n)^(nt), where FV is future value, r is interest rate, n is number of compounding periods per year, and t is number of years.
For a 6% interest rate compounded annually, n = 1 (since it's annually), r = 6/100 = 0.06 (converted to a decimal), t = 5 years and FV = $4,000. So, PV = $4,000 / (1 + 0.06/1)^(1*5) = $2,988.64.For an 8% interest rate compounded annually, PV = $4,000 / (1 + 0.08/1)^(1*5) = $2,722.54.For a 10% interest rate compounded annually, PV = $4,000 / (1 + 0.10/1)^(1*5) = $2,488.32. For a 10% interest rate compounded semiannually, n = 2 (since it's semiannually), r = 10/100 = 0.10, t = 5 and FV=$4,000. So, PV = $4,000 / (1 + 0.10/2)^(2*5) = $2,454.60.For a 10% interest rate compounded quarterly, n = 4 (since it's quarterly), r =10/100 = 0.10, t = 5 and FV=$4,000. So, PV = $4,000 / (1 + 0.10/4)^(4*5) = $2,434.08.Learn more about Present Value here:https://brainly.com/question/34554678
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Concord Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $1,932,000 on March 1, $1,212,000 on June 1, and $3,081,610 on December 31. Compute Concord’s weighted-average accumulated expenditures for interest capitalization purposes.
Answer:
$2,317,000
Explanation:
The computation of the weighted-average accumulated expenditures for interest capitalization purposes is shown below:
For expenditure on March 1
= $1,932,000 × 10 months ÷ 12 months
= $1,610,000
On June 1
= $1,212,000 × 7 months ÷ 12 months
= $707,000
On December 31, it would be zero
So, the accumulated expenditures is
= $1,610,000 + $707,000
= $2,317,000
Final answer:
The weighted-average accumulated expenditures for interest capitalization purposes for Concord Company is calculated by multiplying each expenditure by the number of months it was outstanding and summing them up. The total comes to $30,885,610.
Explanation:
The student is asking for the computation of Concord Company's weighted-average accumulated expenditures for interest capitalization purposes over the construction period of a building. To calculate this, we will consider the dates and amounts of expenditures made during the construction period.
Calculation of Weighted-Average Accumulated Expenditures:
Determine the amount of time each expenditure was outstanding during the construction period.
Multiply each expenditure by the number of months it was outstanding to calculate the weighted expenditure.
Add the weighted expenditures to determine the total weighted-average accumulated expenditures.
Expenditures were as follows:
$1,932,000 on March 1 (10 months outstanding)
$1,212,000 on June 1 (7 months outstanding)
$3,081,610 on December 31 (1 month outstanding)
The weighted expenditures will be:
$1,932,000 x 10 = $19,320,000
$1,212,000 x 7 = $8,484,000
$3,081,610 x 1 = $3,081,610
The total weighted-average accumulated expenditures for interest capitalization purposes is the sum of the individual weighted expenditures, which equals $19,320,000 + $8,484,000 + $3,081,610 = $30,885,610.