Answer:
No.This is because the contract is on specially manufactured sweaters which both parties agreed on.
Explanation:
A contract can be described as a spoken or written agreement that is legally binding between two or more parties relating to sales, rendering of services, tenancy, employment, and among others. The aim of a contract is to ensure that each party to the contact performs his duty and their rights are protected.
From the definition above, it obvious that a contract can be spoken or written. Therefore, Helen's contract does not have to be in writing for her to enforce it since they both agreed on the agreed to make specially manufactured sweaters.
On July 15, 2021, the Nixon Car Company purchased 2,200 tires from the Harwell Company for $45 each. The terms of the sale were 2/10, n/30. Nixon uses a perpetual inventory system and the gross method of accounting for purchase discounts.
Final answer:
The question asks about the accounting treatment for a purchase with a payment term that includes a discount using the gross method in a perpetual inventory system. The purchase is initially recorded at the full amount and later adjusted if the discount is taken within the prescribed discount period.
Explanation:
The question involves the application of purchases with a discount term under a perpetual inventory system using the gross method of accounting. On July 15, 2021, the Nixon Car Company purchased 2,200 tires at $45 each from the Harwell Company, with payment terms of 2/10, n/30. These terms imply that Nixon Car Company has the option to take a 2% discount on the total purchase price if payment is made within 10 days; otherwise, the net amount is due in 30 days.
Under the gross method, we initially record the purchase at the total cost without accounting for the potential discount. If the discount is taken, the accounting records will then be adjusted to reflect the discount on the date of payment within the discount period. If payment is not made within the discount period, no adjustments for purchases discounts will occur.
In this case, assuming Nixon pays within the discount period, the journal entry on the date of purchase (July 15, 2021) would be to debit Inventory for $99,000 (2,200 tires × $45 each) and to credit Accounts Payable for $99,000. If the payment is made within 10 days, then Nixon will debit Accounts Payable for $99,000 and credit Cash for $97,020 (which represents a 2% discount on $99,000) and an Inventory (Purchase Discount) for $1,980, reflecting the discount taken.
Variable Cost Ratio, Contribution Margin Ratio
Head-First Company plans to sell 5,000 bicycle helmets at $75 each in the coming year. Unit variable cost is $45 (includes direct materials, direct labor, variable factory overhead, and variable selling expense). Fixed factory overhead is $20,000 and fixed selling and administrative expense is $29,500.
Required:
1. Calculate the variable cost ratio.
%
2. Calculate the contribution margin ratio.
%
Answer:
Instructions are listed below.
Explanation:
Giving the following information:
Head-First Company plans to sell 5,000 bicycle helmets at $75 each in the coming year. The unit variable cost is $45. Fixed factory overhead is $20,000 and fixed selling and administrative expense is $29,500.
To calculate the variable cost ratio, we need to use the following formula:
Variable cost ratio= unitary variable cost / selling price
Variable cost ratio= 45/75= 0.6
The contribution margin rate is the difference between the contribution margin and the selling price:
CM ratio= Contribution margin / selling price
CM ratio= (75 - 45)/ 75= 0.4
Which of the following is correct for Qualified Tuition Programs? a. Contributions are deductible and qualified educational expense distributions are tax-free. b. Contributions are deductible and qualified educational expense distributions are taxable. c. Contributions are not deductible and qualified educational expense distributions are taxable. d. Contributions are not deductible and qualified educational expense distributions are tax-free.
Answer:C
Explanation:
Contributions are not deductible and qualified educational expense distributions are taxable
The right answer is d. Contributions to Qualified Tuition Programs are not tax-deductible but the earnings and distributions for educational expenses are tax-free.
Explanation:The correct option for Qualified Tuition Programs is d. Contributions are not deductible and qualified educational expense distributions are tax-free. A Qualified Tuition Program, also known as a 529 plan, is a tax-advantaged savings plan designed to help pay for education. Contributions to these plans are made with after-tax dollars but any income the account earns is tax-free as long as it's used for qualified education expenses. These expenses can include tuition fees, books, and room and board for college students. So, while the contributions themselves are not tax-deductible, the earnings and distributions for educational expenses are tax-free.
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Recent financial statement data for Harmony Health Foods (HHF) Inc. is shown below. Current liabilities $ 188 Income before interest and taxes $ 117 10% Bonds, long-term 370 Interest expense 37 Total liabilities 558 Income before tax 80 Shareholders' equity Income tax 28 Common stock 204 Net income $ 52 Retained earnings 294 Total shareholders' equity 498 Total liabilities and equity $ 1,056 HHF's debt to equity ratio is (Round your answer to 2 decimal places.): Multiple Choice 1.89. 1.12. 0.74. 0.55.
Answer:
0.74
Explanation:
The debt to equity ratio is a financial measure that shows how much of the company's activities is funded by long term debt or non current liabilities compared to the owner's equity.
A company with an element of long term debt financing is said to be geared. The higher the long term debt to equity ratio, the more geared the company is.
Debt to equity ratio is the ratio of debt to equity
= 370/498
= 0.74
When a company recognizes that the needs of one market segment is not the same as another and accordingly customizes its product offerings, it is said to be pursuing a __________ strategy. a. focus b. low-cost c. standardization d. segmentation e. stuck-in-the-middle
Answer:
Focus strategy.
Explanation:
Focus strategy is undertaken by a company to enter a narrow market or expand operations in such a market. The segment is specific and the business usually provides services that competitively meets customer needs.
Recognising that one market segment's needs are different from another one's is the basis for focus strategy. Resources will be used to meet and satisfy the unique needs of a target segment or niche. Involve a particular product line for example children clothing, detergents, lemon juice, children's shoes and so on.
On January 1, 20X9, Pitcher Corporation purchased 100 percent of Softball's stock. All tangible assets had a remaining economic life of 10 years at January 1, 20X9. Both companies use the FIFO inventory method. Softball reported net income of $17,000 in 20X9 and paid dividends of $4,700. Pitcher uses the equity method in accounting for its investment in Softball.
The equity method used by Pitcher Corporation means its investment in Softball is initially recorded at cost and adjusted annually to account for net income and dividends. In 20X9, the net income of $17,000 increased Pitcher's investment value, while the dividends of $4,700 decreased this value.
Explanation:Under the equity method of accounting, when a parent company, here Pitcher Corporation, purchases 100% of the stock of another company, Softball in this case, it records the investment as an asset. The initial investment is recorded at cost, and then the value of this investment is adjusted annually to account for the parent's share of the subsidiary's income and dividends.
In 20X9, Softball reported a net income of $17,000. As Pitcher owns 100% of Softball, it would recognize an increase in the investment of $17,000 in its financial statements. Additionally, when Softball pays dividends, these are treated as a return on investment and so Pitcher would decrease the carrying value of the investment. Here, the dividends amounting to $4,700 would decrease the investment account of Pitcher.
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Toll on a bridge was increased from $.50 to a dollar and the number of vehicles crossing the bridge decreased from 520,000 to 435,000. Calculate demand elasticity for bridge use.
Answer:
-0.1635
Explanation:
Given that,
Initial price = $0.50
New price = $1
Initial quantity = 520,000
New quantity = 435,000
Percentage change in quantity demanded:
= (Change in quantity demanded ÷ Initial quantity) × 100
= [(435,000 - 520,000) ÷ 520,000] × 100
= (-85,000 ÷ 520,000) × 100
= -0.1635 × 100
= -16.35%
Percentage change in price:
= (Change in price ÷ Initial price) × 100
= [(1 - 0.50) ÷ 0.50] × 100
= (0.50 ÷ 0.50) × 100
= 1 × 100
= 100%
Elasticity of demand:
= Percentage change in quantity demanded ÷ Percentage change in price
= -16.35 ÷ 100
= -0.1635
To maximize revenue from tolls, the city should charge a toll in the inelastic portion of the demand curve.
Explanation:To maximize revenue from tolls, the city should charge a toll in the inelastic portion of the demand curve. The elasticity of demand measures how responsive the quantity demanded is to changes in price. In the inelastic portion, the demand for bridge use is relatively insensitive to price changes, meaning that even if the toll increases, the number of vehicles crossing the bridge will not decrease significantly. By charging a toll in this portion, the city can increase the price without losing too many customers, resulting in higher revenue.
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In service learning, you __________. Group of answer choices go through short-term, on-the-job training for pay or academic credit perform service work without pay compete against other students as part of a team complete a paid work assignment in a workplace
Answer:
The correct answer is letter "B": perform service work without pay.
Explanation:
Service-learning has similar features to volunteer programs, community programs or internships with the difference that service-learning only focuses on learning and the service objectives. It attempts to provide meaningful service through course content where the students must use their critical reflection to complete the tasks assigned. Anybody can be part of service-learning programs considered there is no economic compensation for it.
A company sells goods for $150,000 that cost $54,000 to manufacture. Which statement is true? a. The company will recognize sales on the balance sheet of $150,000. b. The company will recognize $96,000 gross profit on the balance sheet. c. The company will decrease finished goods by $54,000. d. The company will increase finished goods by $54,000.
Answer:
The correct answer is C
Explanation:
Finished goods are those goods which have been finished or completed through the process of the manufacturing or purchased or bought in the completed form, but not sold yet to the customers.
The finished goods cost or expense is considered to be a asset which is short term in nature, which is expected to be sold in less than a year or period.
So, when the company sold the goods that worth $54,000 to the manufacture for $150,000, this will lead to decrease in the finished goods of the company which worth $54,000.
Which statement corresponds to this specific situation? Rowan owns a computer programming business with 15 employees. He is hiring a new employee, and he turns down a 45-year-old man because he is "too old to keep up with the rest of the group." O
a. Employer may legally discriminate because the law doesn't apply to this situation
b. Employer may legally discriminate based on BFOQ
c. Employer may legally discriminate based on number of employees
d.Employer may not legally discriminate closed principal
Answer:
b. Employer may legally discriminate based on BFOQ exception
Explanation:
The statement that corresponds to the situation should be that the Employer can legally discriminate base on BFOQ exception. BFOQ means Bona Fide Occupational Qualification and under the United States laws, discrimination against people based on their gender, age, race, national origin religion, is generally prohibited. It is important to state that there are exceptions to this BFOQ law which allows an employer to refuse to employ a person under certain circumstances, for example, the nature of the job may allow the employer not to employ an Applicant seeking for employment.
Therefore, for an employer to reject employing an applicant, he must show that the situation at hand falls under the BFOQ exception, that is the BFOQ exception allows him to discriminate against the applicant. For example, where a doctor is required for a job in the hospital and pharmacist applied for the post, the employer is legally allowed to discriminate base on BFOQ exception.
So from the situation presented, Rowan is not legally allowed to turn down a 45-year-old man who applies for the job because he is too old to keep up with the rest of the group. Rowan may reasonably believe that the 45-year-old man is too old to keep up with the rest of the group but to the court perspective, the nature of the job does not require a young person to perform so anybody of any age can apply and the 45-year-old man is qualified for the job then Rowan will be liable for discrimination base on BFOQ because there is nothing about the responsibilities of the job that the 45-year-old man can not do.
On average, there are 8 customers arrives a local bank per hour. Bob is the only bank teller on duty at the bank currently and needs to run out for 6 minutes. What is the probability that no customer will arrive in the next 6 minutes
Answer:
The probability that no customer will arrive in the next 6 minutes is 1.2 minutes or ratio of 0.2
Explanation:
Expected value is the value on the probability of occurrence of the values.
Expected Time consumed on customer in an hour = 8 x 6 = 48 minutes
Probability of customer arrives = 48/60 = 0.8
Probability that customer will not arrive = 1 - 0.8 = 0.2
Expected time Customer will not come in 6 minutes = 6 x 0.2 = 1.2 minutes
If you bought a share of common stock, you would probably expect to receive dividends plus an eventual capital gain. Would the distribution between the dividend yield and the capital gains yield be influenced by the firm’s decision to pay more dividends rather than to retain and reinvest more of its earnings? Explain.
Answer and Explanation:
The answer is attached below
Sarah owns a vacation cabin in the Tennessee mountains. Without considering the cabin, she has gross income of $65,000. During the year, she rents the cabin for two weeks for $2,500 and uses it herself for four weeks. The total expenses for the year are $10,000 mortgage interest; $1,500 property tax; $2,000 utilities, insurance, and maintenance; and $3,200 depreciation.
If an amount is zero, enter "0".
a. What effect does the rental of the vacation cabin have on Sarah's AGI?
Sarah reports rental income of ? and rental expenses of ? for AGI.
b. What expenses can Sarah deduct, and how are they classified (i.e., for or from AGI)?
Note: Assume that she itemizes her deductions.
a. Utilities $
b. Insurance $
c. Property Taxes $
d. Mortgage interest $
e. Maintenance expenses $
Answer and Explanation:
The vacation home is classified as primarily personal because it was rented for fewer than 15 days during the year. As Sarah can exclude the $2,500 of rent income, the vacation home
transactions have no effect on her AGI.
b. The only expenses that Sarah can deduct are those she normally would deduct as itemized
deductions. This includes the following:
Mortgage interest $10,000 Property tax
1,500
Total
$11,500
Sarah cannot deduct any of the utilities, insurance, and maintenance expenses or the depreciation. None of the expenses are deductible for AGI.
Indicate whether each of the following statements is true or false: a. Because they can control product price, monopolists are always assured of profitable production by simply charging the highest price consumers will pay.
Answer:
The statement is true. Because they can control product price, monopolists are always assured of profitable production by simply charging the highest price consumers will pay.
Explanation:
In economics, a monopoly is a term that describes an industry or other economic sector where control rests with one supplier as that supplier is the only one supplying the market. In theory, that means total control or "complete monopoly" but in practice most monopolies today are "quasi-monopolies", with a supplier dominating the market almost completely but with the space for a few small companies as well. The monopolist can get a high price for his product by limiting market supply so that the supply of goods is less than the demand for it.
Kathy works full time during the day as an economist and faces an 80 percent marginal tax rate. If Kathy were to get an offer to work a second job in the evenings doing consulting work for a local business for $10,000 per year, how much of this additional income would she be able to keep as net pay after taxes? a. $10,000 b. $6,000 c. $2,000 d. $4,000
Final answer:
Kathy, with an 80 percent marginal tax rate on a second job offering $10,000 per year, would be able to keep $2,000 after taxes.
Explanation:
Kathy is considering taking a second job which offers $10,000 per year. Given her 80 percent marginal tax rate, we need to determine how much of this additional income she would be able to keep after taxes. The calculation is straight forward:
Amount offered for the second job: $10,000.Marginal tax rate: 80%.Amount taxed: $10,000 * 80% = $8,000.Net pay after taxes: $10,000 - $8,000 = $2,000.Therefore, Kathy would be able to keep $2,000 of the additional income as net pay after taxes. Option C is correct .
Assume that Global Cleaning Service performed cleaning services for a department store on account for $180. How would this transaction affect Global Cleaning Service's accounting equation? A. Increase both assets and liabilities by $180 B. Decrease liabilities by $180, and increase equity by $180 C. Increase both liabilities and equity by $180 D. Increase both assets and equity by $180
Answer:
D. Increase both assets and equity by $180
Explanation:
When a service is done on account, revenue will be recognized but the corresponding assets is accounts receivables and not cash. Hence the transaction will increase the company's revenue and assets balances . Revenue is turned into equity through retained earnings.
The accounting equation is
assets = liabilities + equity
This transaction will increase assets and equity be $180 each.
Providing a service on account, as Global Cleaning Services did, increases both assets and equity by the amount of the service provided. In this case, that would be $180.
Explanation:When Global Cleaning Service performs cleaning services for a department store on account for $180, this transaction will increase both assets and equity by $180. Here's why: In this scenario, Global Cleaning Service is providing a service on account which means they haven't received payment yet, but they will in future. This kind of transaction is considered an account receivable which is an asset to the company. At the same time, because they have effectively made $180 (even if they haven't received it yet), their equity (which represents ownership in the company) also increases. So, the correct answer to your question is option D.
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AC variant of the gene ACTN3 which inhibits fast-twitch muscles and seems to be less prevalent in sprinters has been studied. A separate study1 indicated ethnic differences: Approximately 20% of a sample of Caucasians, approximately 25% of a sample of Asians, and approximately 1% of a sample of Africans had the gene variant. One variable is whether or not the gene variant is present and the other is which of the three ethnic groups the individual belongs to.
Answer:
Category variable: Caucasians, Asians, Africans
Quantitative variable: 20%, 25%, 1%.
Explanation: The are two variables in these study. They are categorical variable and quantitative variable.
Categorical variables are variable that helps classify a given population eg race, hair colour, skin colour. Most of the time are not numerical, so we can't multiply, add or subtract them. As given in this assignment the Caucasians, Asians and Africans are category variables.
Quantitative variables are those that numerical and they reflect count, percentages(20%, 25%, 1%) and can be added, subtracted, or multiplied. The percentage of the ethnic group is an example of quantitative variable.
The ACTN3 gene contributes to muscle variation and is associated with fast-twitch muscle fibers which benefit power athletes like sprinters. Its prevalence varies across different ethnic groups, but genetic factors alone, including ACTN3, predict only a small percentage of muscle variation, emphasizing the role of both genes and environment in athletic performance.
Explanation:Understanding the Role of ACTN3 in Athletic PerformanceThe ACTN3 gene is associated with the production of a protein that is pivotal for fast-twitch muscle fibers, which are crucial in short-duration, high-intensity activities such as sprinting. While there is a clear indication that certain alleles of the ACTN3 gene are more prevalent among elite power athletes, such as sprinters and power-lifters, this gene variant is not the sole determinant of athletic ability. The prevalence of the AC variant, which inhibits fast-twitch muscles, varies among different ethnic groups, suggesting a genetic element to athletic prowess. However, research indicates that the prediction of muscle variation based on the ACTN3 gene is only about 2-3 percent in the general population.
Environmental factors, such as diet and training, play a significant role in developing athletic abilities alongside genetics. The influence of other genes related to athleticism, although not thoroughly understood, also contributes to the complexity of predicting athletic success. Additionally, the proportion of slow-twitch to fast-twitch muscle fibers varies among individuals, affecting their potential for endurance or power-based sports.
Anecdotal evidence, such as the reference to Usain Bolt likely possessing at least one fast-twitch allele, suggests how genetic potential can translate to real-world performance when combined with appropriate environmental factors, such as training and lifestyle. This highlights the multifactorial nature of traits like athletic performance, where both genetic makeup and environmental influences determine the outcome.
The following probabilistic activity time estimates are for the CPM/PERT network in Problem 9.9: TIME ESTIMATES (DAYS) TIME ESTIMATES (DAYS) ACTIVITY a m b ACTIVITY a m b 1 1 2 6 7 1 1.5 2 2 1 3 5 8 1 3 5 3 3 5 10 9 1 1 5 4 3 6 14 10 2 4 9 5 2 4 9 11 1 2 3 6 2 3 7 12 1 1 1 Determine the following: a.Expected activity times b.Earliest start and finish times c.Latest start and finish times d.Activity slack e.Critical path f.Expected project duration and standard deviation
Answer:
attached below
Explanation:
In many developing countries, the majority of citizens make their living through microenterprises- informal, tiny businesses that barely yield enough to survive.Without financial services, most of these entrepreneurs find growth simply impossible. The Foundation for International Community Assistance (FINCA), a nonprofit established in 1984, stepped into the gap by providing micro-loans ($50-$500) to the poorest of the poor entrepreneurs, through village banks that are administered by the people they serve. The FINCA program has been amazingly successful at breaking the vicious cycle of poverty for its clients. Check out their story on the Web at www.finca.org. Why has the FINCA approach worked so well? Do you think it would work in poor communities in the United States? Why or why not?
Answer:
The company provides micro financial services to poor and the needy people having no access to regular banking services
This helps to boost small businesses and financial inclusion which are heart of any economy and vital to the economy and promoting growth.
Possible measures taken by the organization includes providing funds for at lower interest rates and providing credit services. Subsidized credit to deficient areas increases productivity and employment growth by means of boosting the small and medium-sized enterprises.
This may work in poor communities in United States. However in united schemes there are lots of other governmental schemes such as coupons, free food etc program are already running.
However, these programs are also carrying a potential here. But there potential is much greater in poor countries having less developed banking and financial reach.
Explanation:
The FINCA approach has worked well due to providing micro-loans to the poorest entrepreneurs, fostering trust through local administration, but its applicability in poor communities in the United States may be limited due to differences in socio-economic conditions and infrastructure.
The success of the FINCA approach can be attributed to several key factors. Firstly, by providing micro-loans to the poorest entrepreneurs, FINCA empowers individuals to invest in their own businesses, generating income and lifting themselves out of poverty.
Secondly, the village bank model ensures that loans are administered locally, fostering trust and accountability within the community. Additionally, FINCA's focus on financial inclusion addresses a critical need in developing countries where access to traditional banking services is limited.
However, the effectiveness of the FINCA approach in poor communities in the United States may be limited due to differences in socio-economic conditions and infrastructure.
While microenterprise development programs can certainly benefit marginalized communities in the U.S., the extent of poverty and financial exclusion may not be as severe as in developing countries. Additionally, regulatory and cultural differences may present challenges to implementing a village bank model in the U.S.
Journalize the following foregoing transactions of the buyer, assuming that the company uses the perpetual inventory system. Refer to the Chart of Accounts for exact wording of account titles.
Dec. 1 Merchandise with a list price of $4,700 is purchased on account, terms FOB shipping point, 1/10, n/30. The seller prepaid freight costs of $100.
3 Prior to payment, $1,600 of the merchandise is returned.
8 The invoice is paid within the discount period.
Answer:
Buyer perspective:
Inventory 4700 debit
Accounts Payable 4700 credit
--to record purchase--
Accounts Payable 1600 debit
Inventory 1600 credit
--to record returned goods--
Accounts Payable 3100 debit
Inventory 31 credit
Cash 3069 credit
--to record payment within discount--
Explanation:
The freights are being paid by the seller as the FOB shipping point the goods are in their possesion until arrive at destination thus, it should assume the trasnportation cost
Account balance:
4700 invoice - 1600 return = 3,100
discount 1% of the balance: 31
cash outlay considering the discount
3,100 - 31 = 3,069
Economic growth and public policy Suppose Vaabo, a Finnish-owned auto manufacturer, builds a production facility in Kentucky. This is an example of foreign _______ investment in the United States.
Answer:
The correct word for the blank space is: direct.
Explanation:
Foreign Direct Investment is a type of cross-border investment to create a lasting interest that a resident company based in one country could have in a company operating in another. Lasting interest implies a substantial degree of interest in the company's management as well as establishing a long-term relationship between the direct investor and the direct investment business.
Data concerning Bedwell Enterprises Corporation's single product appear below: Selling price per unit $ 190.00 Variable expenses per unit $ 94.50 Fixed expense per month $ 438,790 The unit sales to attain the company's monthly target profit of $25,000 is closest to: (Do not round intermediate calculations.)
Answer:
Target sales unit = 4,856 units
Explanation:
We know,
Target sales unit = (Fixed expense + Target profit) ÷ (Sales price per unit - Variable expense per unit)
Given,
Fixed expense = $438,790
Sales price per unit = $190.00
Target profit = $25,000
Variable expense per unit = $94.50
Putting the values into the above formula,
Target sales unit = ($438,790 + $25,000) ÷ ($190.00 - 94.50)
or, Target sales unit = $463,790 ÷ $95.50
Therefore, Target sales unit = 4,856 units
An online bank is offering to pay 0.30% interest per month on deposits. Your local bank offers to pay 0.70% interest quarterly (every 3 months). Which is the higher interest rate?
Answer:
The higher interest rate is 0.3% monthly rather than 0.7% quarterly
Explanation:
Equivalent Rates of Interest
Rates of interest are related to time. If we are given a specific monthly rate r, it can be found an equivalent rate in another time base. But it depends on the type of interest we're working with (simple or compound)
If we have a r=0.3% per month, we can find the equivalent quarterly rate by simply multiplying by 3, if the investment is made on the simple interest type. In this case r = 0.3%*3 = 0.9% quarterly.
If we are working with compound interest, the equivalent rate is more complicated to find
(1+r)=(1+0.003)^3=1.0009003
We find
[tex]r=0.009003*100=9.003\%[/tex]
In both cases, the higher interest rate is 0.3% monthly rather than 0.7% quarterly
The interest rate that is higher in comparison would be:
0.3% monthly
Find the rate of interestGiven that,
Interest rate per month = 0.3%
Interest rate per quarter = 0.7%
If we calculate the annual interest for monthly and quarterly rate, it will be:
Monthly
No. of months in a year = 12
Monthly rate = 0.3%
So,
Annual Interest = 0.3 × 12
= 3.6%
Quarterly
No. of quarters in a year = 4
Quarterly rate = 0.7%
So,
Annual Interest = 0.7 × 4
= 2.8%
Since 3.6 is greater than 2.8, thus, 0.3% monthly is higher.
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Current news and politics is full of concern about the environment, particularly as it is related to oil use and the auto industry. There are a number of ethical considerations that arise out of these issues. Please be sure to answer ALL of the following questions: Some propose that these concerns could be alleviated if our use of cars was limited by increased gasoline taxes--if gas is more expensive, we will use less of it and, as a beneficial by-product, improve the environment. What do you think of this proposal and what theory would support your position? Are there injustices built into such measures?
Answer:
It is true that raising gasoline prices (either by producing less of it, or by adding taxes) would reduce gasoline use. The concept of price elasticity of demand can helps us explain why.
Explanation:
A good can be either elastic or inelastic depending on its price elasticity of demand. A price elasticity of demand of less than 1 is considered inelastic, while a price elasticity of demand higher than 1 is considered elastic.
Elastic goods are those whose quantity demanded falls or rises more than the price. Inelastic goods are those whose quantity demanded falls or rises less than the price.
Gasoline is a inelastic good in the short-term because even with a price hike, most people will still buy gasoline because they need to move around. However, in the long-term, gasoline becomes more elastic because people replace their buy electric cars, or cars that use less fuel, etc.
What this tells us is that raising gasoline prices can reduce gasoline use in the long-term.
A built-in injustice in this measure is that it affects the poor disproportionally. Poor people also need cars to get around, and a rise in the gasoline price means that they have less money for other basic needs.
King Waterbeds has an annual cash dividend policy that raises the dividend each year by 44%. The most recent dividend, Div 0Div0, was $ 0.50$0.50 per share. What is the stock's price if a. an investor wants a return of 66%? b. an investor wants a return of 1010%? c. an investor wants a return of 1111%? d. an investor wants a return of 1313%? e. an investor wants a return of 1818%? a. What is the stock's price if an investor wants a return of 66%?
Answer:
Stock Prices expected of King Waterbeds are:
a. $8.67
b. $5.20
c. $4.73
d. $4.00
e. 2.89%
Explanation:
Based on Kin Waterbeds Dividend Policy of 4% incremental dividend Year on Year, it implies the next dividend Pay out would be $0.52 Per unit of share.
We understand that Returns on Investment in % is the actual Returns in Dollars divided by the invested Amount in Dollars.
Thus, to determine the Amount invested (now refereed to as Stock Prices), it will be my Actual Returns in Dollars divided by my expected Returns on Investment in %
The attached workings demonstrates how we arrived at the answers a to e.
Nine months ago, The Allstate Corporation sold a one-year policy to a customer and recorded the receipt of the premium by crediting Unearned Revenue for $2,496. No accounting adjustments have been prepared during the nine-month period. Allstate's annual financial statements are now being prepared.
Answer:
Journal entry recorded by the Company at the time of receipt:
Cash A/C Dr. $2496
To Unearned Revenue 2496
(Being unexpired insurance premium recorded)
After 9 months, the following journal entry would be passed for adjustment of insurance premium expired or the revenue which has been earned by the company.
Unearned Revenue A/C (2496 × [tex]\frac{9}{12}[/tex]) Dr. $ 1872
To Revenue A/C 1872
(Being proportion of insurance premium expired recorded)
Unearned Revenue A/C denotes a liability. At the time of receipt of payment, the insurance company creates this liability since services are due against the receipts.
At the time of preparation of financial statements, the unearned revenue which has now been earned is recorded by debiting i.e reducing the liability balance.
In order to be considered unemployed, a person must be: Instructions: You may select more than one answer. Click the box with a check mark for correct answers and click to empty the box for the wrong answers. not working. unanswered actively seeking work. unanswered willing and able to work. unanswered under 16 or over 65.
Answer:
The correct answer are letters "A", "B", and "C": not working; actively seeking work; willing and able to work.
Explanation:
Unemployment is the state in which individuals do not have a job but are actively seeking one. These people are willing and available to start working yet they have not been able to get a job according to their skills. The unemployment rate of the U.S. for 2019 was around 3.6% according to the Bureau of Labor Statistics (BLS).
Answer:Correct Not working, under 16 or over 65
incorrect actively seeking work, willing and able to work
Explanation:
A business school would like to know that whether the average number of years of work experience of MBA applicants is less than 3 years. Based on last year's applicants, it was found that among a sample of 47, the average number of years of work experience is 2.57 with a standard deviation of 3.67. Apply t-test to analyze the sample and draw a conclusion about the years of work experience of MBA applicants.g
Answer:
The test statistic t of the sample is -0.804.
There is sufficient evidence to ascertain that the average number of years of work experience of MBA applicants is less than 3 years.
Explanation:
Null hypothesis: The average number of years of work experience of MBA applicants is 3 years.
Alternate hypothesis: The average number of yet of work experience of MBA applicants is less than 3 years.
Test statistic (t) = (sample mean - population mean) ÷ sd/√n
sample mean = 2.57
population mean = 3
sd = 3.67
n = 47
t = (2.57 - 3) ÷ 3.67/√47 = -0.43 ÷ 0.535 = -0.804
Assuming a 5% significance level
degree of freedom = n - 1 = 47 - 1 = 46
The critical value corresponding to 46 degrees of freedom and 5% significance level is 2.013.
Conclusion:
Reject the null hypothesis because the test statistic -0.804 is less than the critical value 2.013.
The years of work experience of MBA applicants is less than 3.
Mia received a credit card offer in the mail. The credit card has an annual percentage rate of 26%. What is the approximate monthly interest rate that will apply to any unpaid balances on this credit card?
Answer:
Monthly interest rate = 2.16666667%
Explanation:
Given:
Annual percentage rate = 26% = 26 / 100 = 0.26
Total number of months in a year = 12 month
Monthly interest rate = ?
Computation of monthly interest rate :
Monthly interest rate = Annual percentage rate / Total number of months in a year
Monthly interest rate = 0.26 / 12
Monthly interest rate = 0.0216666667
Monthly interest rate = 2.16666667%
Leslie McCormack is in the spring quarter of her freshman year of college. She and her friends already are planning a trip to Europe after graduation in a little over three years. Leslie would like to contribute to a savings account over the next three years in order to accumulate enough money to take the trip. Assume an interest rate of 6%, compounded quarterly. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)
How much will she accumulate in three years by depositing $400 at the end of each of the next 12 quarters, beginning three months from now?
Answer:check attached document
Explanation:
please find the attached for an answer