From the ledger balances below, prepare a trial balance for Crane Company at June 30, 2022. All account balances are normal. Accounts Payable $ 2,000 Service Revenue $8,940 Cash 5,810 Accounts Receivable 2,680 Common Stock 17,410 Salaries and Wages Expense 3,610 Dividends 1,590 Rent Expense 1,320 Equipment 13,340

Answer:

We will consider positive interest rate which is i=0.21 or i=21%

Explanation:

The formula for Future value is:

[tex]FV=PV(1+i)^n[/tex]

The present value will become:

[tex]PV=FV(1+i)^{-n}[/tex]

where:

n is the number of years

Since the condition is same present value,so the given data form the equation:

[tex]6000+5940(1+i)^{-1}=12000(1+i)^{-1/2}[/tex]

Divide above equation by [tex](1+i)^{-1}[/tex]

[tex]6000(1+i)+5940=12000(1+i)^{1/2}[/tex]

Let [tex]z=(1+i)^{1/2}\\[/tex]. Above equation will become:

[tex]6000z^2+5940=12000z[/tex]

Rearranging above equation:

[tex]5940-12000z+6000z^2=0[/tex]

Solving the quadratic equation:

z=1.1,    z=0.9

Let [tex]z=(1+i)^{1/2}\\[/tex] will become:

[tex]z=(1+i)^{1/2}\\\\z^2=1+i[/tex]

[tex]i=z^2-1[/tex]

For z=1.1

[tex]i=(1.1)^2-1\\i=0.21[/tex]

For z=0.9

[tex]i=(0.9)^2-1\\i=-0.19[/tex]

we will consider positive interest rate which is i=0.21 or i=21%

Explanation:

The categorization is presented below:

For debited accounts

Transaction date    Basic Type   Specific account   Effect  Normal balance

Jan.2                        Asset            Cash                      Increase   $15,000

Jan.3                        Asset             Car used              Increase    $8,200

Jan.9                        Asset             Supplies              Increase     $500

Jan.11                        Asset             Account receivable  Increase  $1,800

Jan.16                       Expense         Advertisement        Increase   $200

Jan.20                      Asset              Cash                        Increase  $7,380

Jan.23                     Liability          Account payable     Decrease  $200

Jan.28                      Asset             Retained earnings   Decrease   $500

Jan.28                      Liability          Dividend payable    Decrease   $500

For credited accounts

Transaction date    Basic Type   Specific account   Effect  Normal balance

Jan.2                        Asset             Common stock     Increase   $15,000

Jan.3                        Asset             Cash                      Decrease   $6,800

Jan.9                        Asset             Account payable  Increase     $500

Jan.11                        Asset            Service revenue   Increase     $1,800

Jan.16                       Expense        Cash                     Decrease   $6,600

Jan.20                      Asset             Account receivable Decrease  $1,020

Jan.23                     Liability         Cash                         Decrease  $7,080

Jan.28                      Asset             Dividend payable   Increase   $500

Jan.28                      Liability          Cash                        Decrease   $6,580

We determining the balances by adding the received or that transactions which increases the balance and deduct the paid amount or that transactions which decreases the balance

The provided explanation details the type of account (Asset, Liability, Stockholders’ Equity), the specific account (Cash, Rent Expense, Service Revenue, etc.), whether the specific account is increased or decreased, and the normal balance for each given transaction on the specified dates in January.

Below is the required information for each transaction:

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Answer:

d. 120,000 shares.

Explanation:

In a stock split, the current number of shares outstanding is multiplied by the rate of the split and its par value is divided by the rate of the split.

In a 3-for-1 stock split with 40,000 shares outstanding originally, the new number of shares outstanding is:

[tex]n=40,000*3 =120,000\ shares[/tex]

There are 120,000 shares outstanding after the split.

Final answer:

Perceptual distortions, such as stereotyping, halo effect, selective perception, and projection, represent biases in how we view others. These distortions can lead to inaccurate judgments based on overgeneralization, positive characteristics influencing unrelated traits, confirmation of preconceived beliefs, and attributing our own characteristics to others.

Explanation:

Perceptual distortions are cognitive biases or errors in the way we perceive others. Four types of perceptual distortions include stereotyping, the halo effect, selective perception, and projection.

Stereotyping

Stereotyping is when an individual assigns attributes to another person based solely on the other person's membership in a certain social or demographic group. An example would be believing all elderly people are poor drivers without considering individual abilities.

Halo Effect

The halo effect occurs when one positive characteristic of a person influences the observer to see other unrelated traits in a positive light. For example, if a teacher finds a student to be good at sports, they might also assume the student is diligent in their studies.

Selective Perception

Selective perception involves filtering information that is inconsistent with our preconceived beliefs and paying attention to information that confirms those beliefs. For example, if you believe that your favorite brand always produces quality products, you might overlook negative reviews.

Projection

Projection is ascribing one's own characteristics, feelings, or beliefs onto other people. When a distrustful person suspects others of being untrustworthy themselves, it is an example of projection.

The question pertains to cost and revenue calculation in a business context using Sailmaster as an example. We calculate the total cost by adding labor, material, and energy costs. The total revenue is computed by multiplying the units sold by the sale price per unit.

The subject of this question is business, specifically it relates to cost and revenue calculation in a business setting. In this case, Sailmaster, a company that manufactures high-performance sails is taken as an example.

To answer your question directly, the total cost involves labor cost, material cost and energy cost. Total labor cost could be calculated by multiplying the total labor hours with the wage rate. Therefore, total labor cost equals 46,675 hours * $11/hour, which amounts to $513,425. The total material cost is given as $60,100 and total energy cost is $4,110. Adding all these costs together, we get a total cost of $577,635.

Further, the total revenue could be computed by multiplying the units sold by the sale price per unit. Therefore, total revenue equals 1,214 units * $1,697/unit, which would result in a total revenue of $2,059,538. Now, by subtracting total cost from the total revenue, we can calculate profit or loss.

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Answer:

$1,166.85

Explanation:

We use the PV function that is presented in the attachment. Kindly find the attachment below:

Mentioned that

Future value = $2,500

Time period or NPER = $2,500

Rate of interest = 11.5%

PMT = $0

Now the formula which is used is shown below:

= -PV(Rate;NPER;PMT;FV;type)

After solving this, the answer is $1,166.85

Answer: B. Consumers in foreign markets generally enjoy participating in marketing research.

Explanation: Consumers in foreign countries are accessible because there are currently many ways to address them, for example a company that sells clothes that wants to sell clothes in other markets and need to do a market research on a specific product, can use the large companies such as social networks or e-mail marketing to be able to offer the products or obtain the result of the research they are conducting.

The correct statement about conducting marketing research in a foreign country is option c. that reaching respondents is more difficult than in the United States. Obtaining good secondary data and consumer willingness to participate in research are also major challenges.

This is due to several factors:

While there is a wealth of economic and demographic data available, obtaining reliable and specific consumer data is difficult and costly. Companies often struggle to gather accurate information about local market conditions, consumer preferences, and effective communication methods.

Answer: 80 computers per day

Explanation:

In calculating the break-even point, it important to consider two types of costs. There are fixed costs, costs that don´t change no matter what happens with demand (in this case computers to be fixed), and variable costs, that varies depending on the demand.

Fixed costs:

Equipment Rent: 250

Space Rent: 150

Variable Costs:

Material per computer: 18

Labor per computer: 3

We have to pay $400 no matter what, and more depending on how many pcs are fixed. Now it’s a matter of calculating how many pcs are necessary to pay for that fixed costs and the variable costs that will come with it.

If there were no variable costs, the break-even point would be 16 pcs [16*26=416] (a little more than 15 but u can’t fix half of a pc lol).

However, knowing that the cost per pc is $21, we realize that we earn only $5 per pc. And how many $5 there are in $400? 80 pcs!

Phew! Let’s recap:

80 pcs fixed: $2080 revenue

Variable Cost: 21*80 = $1680

Fixed Cost: $400

2080 – 1680 – 400 = 0. Break-even!

As a side note: in this case, the center capacity is irrelevant because we can break-even well beneath the limit. However, in order to maximize profits, it would be a important data to work with.

Answer:

The correct answer is letter "D": Skilled workforce.

Explanation:

Goodwill refers to the value of an intangible asset found on a company's Balance Sheet. A company's brand recognition, intellectual property, skilled workforce, and reputation among its customers and employees can all count towards its goodwill value. When a company is acquired for a higher price than its book value, the excess value of the target company is recorded under a Balance Sheet goodwill.

Answer:

Cognitive dissonance

Explanation:

Cognitive dissonance is a psychological notion when an individual experiences thoughts and emotions that are not consistent (no matter the environment). In this example, it was expected from Fatima to quit her job (since she hated the manager). In spite of that, she continued to work. That caused the cognitive dissonance in her behavior, as she changed her attitude.

Answer:

The answer is A.

Explanation:

Answer:

e. multilateral

Explanation:

A multilateral approach is when there is combined participation of team members in achieving goals. Keith is open to various ideas and perspectives, considering them in making decisions.

In this approach each team member will feel valued and will be able to provide useful input in the team's activities.

Answer:

Multilateral

Explanation:

Multilateral

The meaning of mulitilateral is multi-sided. Keith's approach being multilateral simple means as its said that he is open to new ideas from everyone. This is already a multi-team, so the participation of the 15 team member of developers is a multi dimensional effort to solving problems. Keith considering all perspectives and ideas makes it multifaceted. He sure will be able to take proper and correct decisions

Answer:

Explanation:

U = 10 X²Z

Given

150 = 5X + 20Z

30 = X + 4Z

To maximise utility

differentiating partially wrt X

MU_x = dU/ dX = 20XZ

differentiating partially wrt Y

MU_y = dU/dY = 10X²

For optimal bundle

MU_x / MU_y = P_x / P_y

20XZ /  10X² = 5 / 20

2Z / X = 1/4

X = 8Z

30 = X + 4Z

30 = 8Z + 4Z

12Z = 30

Z = 2.5

X =  8 X 2.5

= 20

X = 20

Z = 2.5

Answer:

The correct answer is letter "D": political environment.

Explanation:

The marketing research problem intends to collect the most quantity of information possible about consumers to find out how effective is the current advertising campaign of a company. The marketing research problem mainly focuses on the interaction between an organization and its customers in front of issues such as loss of market share.

All those interactions that involve analyzing the market as a whole, such as the introduction of products in a foreign region, or the impact of politics in the market involve talking about the management decision problem.

Final answer:

Political environment is not a direct factor in the definition of a marketing research problem, although it influences broader market conditions. Environmental factors like marketing skills, objectives, and past information are crucial when defining research problems.

Explanation:

When defining the marketing research problem, it is essential to consider various environmental factors that can impact the feasibility and scope of the research. Some of these factors include marketing and technological skills, objectives of the research, past information and forecasts, as well as socio-political contexts. However, political environment as a standalone factor is typically not directly involved in the formulation of a marketing research problem, whereas it may generally influence the broader market conditions.

Understanding environmental context such as social, economic, and technological factors can greatly assist in recognizing the background and setting within which a marketing problem exists. Moreover, conducting preliminary investigations and relying on existing information can provide valuable insights and help in defining a precise and relevant research question. Option D

Answer:

effective interest rate = 4.75 %

Explanation:

given data

principal = $108,000

time = 8 months = [tex]\frac{8}{12}[/tex] year

rate = 10%

solution

we get here first interest that is

interest = principal × rate × time .................1

put here value

interest = $108,000  × 10% × [tex]\frac{8}{12}[/tex]

interest = $7200

so here effective interest rate will be here as

effective interest rate = [tex]\frac{interest}{principal- interest}[/tex] × time  ...........2

put here value

effective interest rate = [tex]\frac{7200}{108000-7200}[/tex]  ×  [tex]\frac{8}{12}[/tex]

effective interest rate = 0.04761

effective interest rate = 4.75 %

Answer:

the money you will invest per year to fund 70% of your salary after retirement is given by,

[tex]\frac{401000}{100}[/tex] X 70%=280 700.

Explanation:

you will need to save 280 700 in order to pay yourself 70% of 401 000.

since percentage is by 100, you will divide the salary by 100 and multiply the result by the new percentage.

Answer:

1. True

2. True

3. False

4.False

5.True

6.False

Explanation:

1. Business Cycles are basically due to country's economic growth trends. When a country's economy is prospering then the Business Cycle will be in a expansion category.

2. There are four phases of business cycle in an economy. Peaks, Troughs, Expansions and Recession. Expansion stage is characterized as when the economy is a country is growing, country is in a developing stage and employment increases.  

3. Business cycles are for every country. Even the developed countries face Business Cycle fluctuations due to Ups and Downs in an economic condition.

4. It is usually not true that the economy is operating at its capacity when it faces troughs in a Business Cycle. Trough is a stage where there is minimum of investment in a country, unemployment is increased, growth is business is near to zero and decline in business activities.

5. When an economy reaches to peak in a Business Cycle it then follows it cycle and enter into a recession or a downturn. At peak when there is end of expansion in a business it starts contacting and recession happens in a Business Cycle.  

6. Business Cycle may last for a few months or a year but it is not necessary that each Business Cycle lasts for exactly nine month. It can be lower or greater depending on the economic conditions of a country.

Final answer:

Business cycles consist of four phases—expansion, peak, contraction, and trough—and occur in all economies. A peak is followed by a downturn, and the trough signifies the lowest economic activity, not operating at full capacity. Business cycles do not have a fixed duration.

Explanation:

True or false: Business cycles can be described as fluctuations from the economy's long-term growth trend. This statement is True. Business cycles represent the short-term variations in economic activity relative to a long-term growth pattern.

True or false: The four phases of business cycles are peaks, troughs, expansions, and recessions. This statement is True. These are the commonly accepted four phases of the business cycle, each with distinct characteristics and economic impacts.

True or false: Business cycles are common in emerging economies but not in developed economies. This statement is False. Business cycles occur in all types of economies, regardless of their development status.

True or false: When a business cycle reaches the trough, the economy is usually operating at its capacity. This statement is False. The trough represents the lowest point in the business cycle, where economic activity is typically at its lowest, not its capacity.

True or false: The peak of a business cycle is followed by a downturn or recession. This statement is True. The peak is the highest point of the business cycle, after which economic activity generally declines, leading to a recession.

True or false: Business cycles last for approximately nine months. This statement is False. The duration of business cycles can vary greatly and is not limited to a specific time frame.

Answer:

d.is the cumulative total of net income, minus net losses, and minus dividends.

Explanation:

As we know that

The stockholder equity statement involves the common stock and the retained earnings statement

It is prepared to find out the ending balance of common stock and the retained earning that is shown below:

The ending balance of retained earning = Beginning balance of retained earnings + net income or minus net loss - dividend paid

And, the ending balance of the common stock = Beginning balance of common stock + issuance of the shares

Answer:

Annual increase is $1,108.4

Explanation:

In 2016, average price was $27,258.6

In 2010, average price was $20,608

Average increase in 6 years = $27,258.6 - $20,608 = $6,650.6

Annual average increase = $6650.6/6 = $1,108.4

Answer:

Engaging the company in one way against another pushes all managers to draw some reasoned conclusions about how to modify the company's commercial disposition and the market position that it should rethink. For this it is necessary to take into account factors that shape the management when deciding where to go the company and why that address makes business sense.

Explanation:

The points of view and conclusions taken by senior management on the direction of the company and the future focus of the product/market/customer/technology make up a strategic vision for the company. The strategic vision traces management's aspirations for your business, offering a panoramic view. Therefore, a strategic vision supports an organization in a particular direction, draws a strategic path and shapes the organizational identity of the company

It is false, it really depends on the situation

Answer:D

Explanation:

An offer is considered as a agreement between sender and receiver. Here, Sargol offers to pay $9,000 amount for a car to weber.

Therefore, Weber can accept Kavanaugh's offer to pay $10,000.

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Answer:

D. total assets to common​ stockholders' equity

Explanation:

The financial leverage multiplier (FLM) is defined as the ratio of the firm’s total assets to the shareholders’ equity.

Analyzing the answer choices provided, the one that better fits the description above is alternative D. total assets to common​ stockholders' equity

Answer:

The Tax savings for the property tax is 3200 USD.

Explanation:

As Katie paid property taxes as $10000 in tax-deductible property taxes. In calculation of this the marginal tax rate is used in calculation. Thus

                          [tex]Tax_{savings}=Tax_{Marginal-rate} \times Amount paid\\Tax_{savings}=32\% \times 10,000\\Tax_{savings}=\frac{32}{100} \times 10,000\\Tax_{savings}= \$ \, 3200\\[/tex]

So the Tax savings for the property tax is 3200 USD.

Answer:

$923,450

Explanation:

The question is to calculate the equity method balance of Domingo's investment in Martes. Inc at December 31,2015

Step 1: Determine the amortization of patents

Particulars                                                 Amount

Martes Inc Assets' Book Value             $4,808,000

Subtract: Liabilities                                    ($968,000)

Martes Inc Net Assets Book Value       $3,840,000

20% Voting Stock Book Value                  $768,000

(20% of $3,840,000)                  

Subtract: Purchase cost of the 20%         ($889,000)

Excess of Cost over book value                $121,000

Patent (the excess above)                          $121,000

Amortization of the patent in 10 years = $121,000/10 years = $12,100

Step 2: Calculate the Equity Investment of Domingo Inc

Particulars                                                                       Amount

Cost of Investment                                                        $889,000

Income accrued 2017 (0.2 x $225,000)                       $45,000

Subtract: Declared dividend (0.2 x $104,000)              ($20,800)

Income Accrued 2018 (0.2 x $276,250)                        $55,250

Subtract: Patent Amortization                                         ($12,100)

Subtract: Dividend declared 2018 (0.2 x $104,000)      ($20,800)

Subtract: Patent Amortization                                         ($12,100)

Domingo Inc's Investment in Martes Inc                        $923,450

Answer:

a. cause GDP to underestimate true welfare in the economy.

Explanation:

GDP is the total value of goods & services produced by an economy during a period of time.

Externalities are extra harm or benefit to un-involved parties, without any monetary exchange for the same.  

Extra benefit to other parties are Positive Externalities, Eg - Education benefit trickling down to society. Extra harm to other parties are Negative Externalities, Eg - Pollution harming society.

GDP i.e Flow of goods & services is only a measure of material welfare, because it ignores qualitative welfare elements like externalities.

Negative Externalities are harm to people's welfare, without monetary exchange. So, this makes GDP as an under estimated measure of welfare.

Answer:

(a) It is a liability for Bloomington to pay for the inventory purchase and it is recorded with the amount of $230,000.

(b) It is not a liability for Bloomington because the press is not yet purchased and agreed to be purchased in future. So, the liability is $0.

(c) In case, there is any discrepancy in the products then it is the responsibility of Bloomington to provide some solution. Therefore, the estimated warranted liability is $4,100 and the amount of liability recorded in the balance sheet is $4,100.

(d) The amount of liability recorded in the balance sheet is as follows:

Bonds payable:

= Estimated pretax income × Profit-sharing bonus

= $850,000 × 5%

= $42,500

Final answer:

The liability amounts to be reported on Bloomington Inc.'s balance sheet for the specified situations are $230,000 for inventory purchase, $0 for future purchase of a drill press, $4,100 for warranty costs, and $42,500 for profit-sharing bonuses.

Explanation:

For each of the provided situations for Bloomington Inc., the corresponding liability amount that should be reported on the balance sheet at December 31, 2016, would be as follows:

a. $230,000 for the year-end inventory purchase, as it represents an obligation to pay.

b. $0, because the commitment to purchase the drill press in January 2017 has not yet resulted in a liability as of December 31, 2016.

c. $4,100 for the estimated costs of the warranty that will be honored in 2017, as it reflects a present obligation resulting from past events.

d. $42,500 for the profit-sharing bonus (5% of $850,000), because even though the bonus is not paid until the following year, the obligation exists at the year-end.

These figures should be included in their respective categories on Bloomington Inc.'s balance sheet—either within accounts payable, accrued expenses, or other relevant payable accounts.

Answer:

a. 300 Popsicle will be sold per day in the long run.

Explanation:

When the price of goods changes the demand and supply also changes. The elasticity of supply is % change in quantity supplied / % change in price.

The price elasticity in the long run will be more and lesser in the short run. If the price of Popsicle increases from $1 to $2 in the long run and the price elasticity is 1.5 in the long run then the  quantity of Popsicle sold will be 300 per day. This is calculated as

= Price elasticity in long run * increased price in the long run * quantity sold per day.

= 1.5 * $2 * 100 Popsicle

= 300 Popsicle's.

If the price of popsicles increases to $2 in the long run, 250 popsicles will be sold per day due to an elasticity of supply of 1.50.

The elasticity of supply (Es) is a measure of how the quantity supplied changes in response to a price change. Here, in the long run, the elasticity of supply is 1.50, meaning that if the price increases by 1%, the quantity supplied will increase by 1.5%. When the price rises from $1 to $2, that is a 100% increase. So, if Es=1.50, the quantity supplied will increase by 100% * 1.5 = 150%. Since the current sales are 100 popsicles per day, with a 150% increase, the quantity supplied in the long run will be 100 + (150/100)*100 = 250 popsicles per day. Therefore, if the price rises to $2 each, 250 popsicles will be sold per day in the long run.

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The annual interest rate is 11.803%.

Assumptions:

- Interest is compounded annually.