If Rachel invests $1700 today in an account that pays 6 percent interest compounded annually, how long will it take for her to accumulate $6,500 in her account?

Answers

Answer 1

Answer:

23.02 years

Explanation:

The expression that describes the future value of an investment (P) at an annual rate (r) for a period of n years, compounded annualy is:

[tex]FV = P*(1+r)^n[/tex]

If Rachel wants to accumulate $6,500 with an investment of $1,700 at 6% per year, the length of her investment, in years, must be:

[tex]6,500 = 1,700*(1+0.06)^n\\1.06^n = 3.8235\\n=\frac{log(3.8235)}{log(1.06)}\\n=23.02\ years[/tex]

It will take Rachel roughly 23.02 years to accumulate $6,500.


Related Questions

You are going to a dinner whith three (3) friends, one who likes steak, another wine, and the third is a vegetarian (which is assumed to be the least expensive). Which is true?a. The vegetarian will be better off with equal shares.b. Equal sharing of the bill ensures that people order a similar dollar amount of food.c. How the bill is shared has no effect on what and how much people choose to eat.d. The wine-drinker will argue for equal shares, and will drink as fast (and/or as much) as possible.

Answers

Answer:

The correct answer is letter "C": How the bill is shared has no effect on what and how much people choose to eat.

Explanation:

Regardless of the price, the friend who likes steak, the other who drinks wine, and the vegetarian are unlikely to change their eating preferences. Just because the bill is to be shared it does not imply that the vegetarian will eat stake or that the friend who eats steak will prefer to choose wine.

Relational integrity constraints enforce business rules vital to an organization's success and often require more insight and knowledge than relational integrity constraints. Question 33 options: True False

Answers

Final answer:

Relational integrity constraints ensure data quality and consistency in a relational database, while business rules are broader guidelines for organizational success. Relational integrity constraints focus on the database, while business rules consider the organization as a whole.

Explanation:

Relational integrity constraints are rules that are applied to the data in a relational database to ensure its quality and consistency. These constraints can include primary key constraints, foreign key constraints, and other rules that define the relationships between tables in the database. They ensure that data is correctly and consistently stored and manipulated.

On the other hand, business rules are specific rules or guidelines that are defined by an organization to ensure its success and operational efficiency. These rules can include policies, regulations, and best practices that govern the behavior and actions of the organization's members.

In comparison, while relational integrity constraints primarily focus on the data integrity and consistency within a database, business rules encompass a broader scope and consider the overall goals and requirements of the organization. Both are important for the success of an organization, but business rules often require more insight and knowledge specific to the organization.

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Now, assume that Addison’s savings institution modifies the terms of her account and agrees to pay 5.8% in compound interest on her $1,000 balance. All other things being equal, how much money will Addison have in her account in nine years?

Answers

Answer:

Addison will have $ 1,661 in her account in nine years.

Explanation:

This problem requires us to calculate value of our investment of $ 1000 dollars after nine years. The interest on the investment is 5.8% compounded annually.

This problem can be solved by using simple compounding formula given below.

Future Value = Present Value (1+interest rate%)^-period

Future Value = 1,000 (1+5.8)^9

Future = $ 1,661

Urban Window Company had gross wages of $240,000 during the week ended june 17. The amount of wages subject to social security tax was $240,000, while the amount of wages subject to federal and state unemployment taxes was $35,000. Tax rates are as follows:
Social security 6.0%
Medicare 1.5%
States unemployment 5.5%
Federal unemployment 0.8%
The total amount witheld from employee wages for federal taxes was $48,000.

Required:
a. Journalize the entry to record the payroll for the week of June 17.
b. Journalize the entry to record the payroll tax expense incurred for the week of June 17.

Answers

Answer:

Wages expense 240,000

  medicare payable          3,600 credit

  social security payable 14,400 credit

  wages payable          222,000 credit

payroll taxes         20,205‬ debit

   FUTA payable                  280  credit

   SUTA payable                1,925  credit

  medicare payable          3,600 credit

  social security payable 14,400 credit

Explanation:

                   MEDICARE 1.5% Social Security 6&

OASDI/HI    $ 240000 3600       14400

FUTA&SUTA $ 35000 SUTA: 5.5% = 1925 FUTA 0.8% = 280

NET WAGES:

240,000 - 3,600 - 14,400 =222,000

payroll taxes:

the employe pays the same amount for OASDI and HI and also pays FUTA and SUTA

14,400 + 3,600 + 1,925 + 280 = 20,205‬

In the venture life cycle, moving from the development stage to the startup stage frequently begins with the preparation of a business plan. The business plan is a written document that describes the proposed venture in all of the following terms except:
a. the proposed product or service opportunity
b. the accounting data for the last five years
c. current resources available to the venture
d. financial projections

Answers

Answer:

The correct answer is letter "B": the accounting data for the last five years.

Explanation:

A Business Plan is a written document that states how a company will achieve its goals. Few good companies last long without one. Business plans give direction to new companies, while established ones used them to determine new ventures. A business plan should paint a clear picture of the costs and drawbacks that come with each important decision.

Requesting and analyzing accounting data for the last five years is not included in the making of a business plan.

In January 2000 Ecuador officially replaced its national currency, the Ecuadorian sucre, with the U.S. dollar. This practice is known as: A. bi-currencyism B. a Yankee bailout C. securitization D. dollarization

Answers

Answer: D. Dollarization

Explanation: Ecuador officially changing its currency to the US dollar means that it has substituted its Sucre with the Dollar. This is termed dollarization, also known as currency substitution, a process whereby a country, officially, or its residents, unofficially, adopting the US dollar or other foreign currency in parallel to or instead of the domestic currency. It has its advantages as well as disadvantages. Some of the advantages include lower administrative costs, a firm basis for a sounder financial sector, and lower interest rates. Its disadvantages ranges from the loss of monetary autonomy, national symbol as well as greater vulnerability to foreign influence among others.

Investment Assets at Year End $170,000 Investment Assets at Beginning of Year $125,000 Savings $25,000 Employer Match to 401(k) $4,800 Gross Income $120,000 Total Assets at Year End $650,000 Total Assets at Beginning of Year $610,000 Total Liabilities at Year End $235,000 Total Liabilities at Beginning of Year $240,000. What was the return on assets (ROA) for the year?

a. 1.67%.
b. 3.25%.
c. 6.56%.
d. 13.74%.

Answers

Answer:

correct option is a. 1.67%

Explanation:

given data

Total Assets at Year End = $650,000

Total Assets at Beginning =  $610,000

Total Liabilities at Year End = $235,000

Total Liabilities at Beginning = $240,000

Savings  = $25,000

Gross Income  = $120,000

Employer Match = $4,800

solution

we get here return on assets that is express as

return on assets = (Total Assets at at year end - ( Total Assets at Beginning + Savings + Employer Match  ) ) ÷ Total Assets at Beginning  .........................1

put here value and we get

return on assets = [tex]\frac{650000-610000+25000+4800}{610000}[/tex]  

return on assets =  0.016721

return on assets = 1.67 %

so correct option is a. 1.67%

Final answer:

The return on assets (ROA) for the year is approximately 30.51%.

Explanation:

To calculate the return on assets (ROA), we need to determine the change in investment assets and the average investment assets for the year. The change in investment assets is calculated by subtracting the investment assets at the beginning of the year from the investment assets at the end of the year. ($170,000 - $125,000 = $45,000)

The average investment assets for the year can be calculated by adding the investment assets at the beginning of the year to the investment assets at the end of the year and dividing by 2. (($125,000 + $170,000) / 2 = $147,500)

Now we can calculate the ROA by dividing the change in investment assets by the average investment assets and multiplying by 100 to express it as a percentage. (($45,000 / $147,500) * 100 = 30.51%)

Therefore, the return on assets (ROA) for the year is approximately 30.51%.

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Seller agrees to supply all gasoline fire needs for the next year three dollars per gallon. After three months the price of gas falls to 233 per gallon. Buyer refuses to keep buying from seller unless the seller lowers the price. Seller agrees to months later the average price of gas goes up to $3.50 per gallon. Seller asked buyer to agree to the price range, but the buyer refuses which of the following is true
A. Buyer must pay three dollars per gallon for the rest the year
B. buyer must pay $2.33 per gallon for the rest of the year
C. Buyer must pay $3.50 per gallon for the rest of the year
D. Seller can legally refuse to supply by with any more gasoline for the rest of the year

Answers

Answer:

B. buyer must pay $2.33 per gallon for the rest of the year.

Explanation:

The correct answer is B. The seller agrees to supply gasoline for next year at $3 per gallon, the buyer agreed to it. When the gasoline prices declined the buyer insisted to reduce price and seller agreed to it. When the prices rise again the seller asked to raise price but buyer refused. Buyer cannot terminate the contract instead it has to continue buying at $2.33 per gallon if the seller is agreed to sell on this price for the rest of the year.

Analytical CRM tools can slice-and-dice customer information to create made-to-order views of _________________. Multiple Choice customer spending customer value All of these are correct. customer segmentation

Answers

Answer:All of these are correct.

Explanation:CRM(customer relations management) is a concept applied by Organisations to help them manage their relationship with their customers,it helps to know what customers need and do the necessary changes or actions to meet them.

Analytical customer relationship management has to do with the analysis(slicing and dicing)carried out on customer information in order to understand the values customer have for a given product or service, customer spending choices and customer segmentation. Analytical CRM is very useful in making effective customer satisfaction and customer relationship.

Your mom is thinking of retiring. Her retirement plan will pay her either $ 200 comma 000 immediately on retirement or $ 280 comma 000 five years after the date of her retirement. Which alternative should she choose if the interest rate​ is: a. 0 % per​ year? b. 8 % per​ year? c. 20 % per​ year?

Answers

Answer:

a.  $280,000 after 5 years.

b. $200,000 immediately after retirement.

c.  $200,000 immediately after retirement.

Explanation:

The future value of a $200,000 payment, after 5 years at a rate 'r' is:

[tex]F = 200,000*(1+r)^5[/tex]

For each rate 'r', your mom should only choose to receive the $200,000 immediately on retirement if F > $280,000, otherwise she should opt for the $280,000 in 5 years.

a. 0 % per​ year

[tex]F = 200,000*(1+0)^5\\F= \$200,000[/tex]

She should opt for the $280,000 after 5 years.

b. 8 % per​ year

[tex]F = 200,000*(1+0.08)^5\\F= \$293,865.62[/tex]

She should opt for the $200,000 immediately after retirement.

c. 20 % per​ year

[tex]F = 200,000*(1+0.2)^5\\F=\$497,664[/tex]

She should opt for the $200,000 immediately after retirement.

Vore Corp. bought equipment on January 2, 20X4 for $200,000. This equipment had an estimated useful life of five years and a salvage value of $20,000. Depreciation was computed by the 150% declining balance method. The accumulated depreciation balance at December 31, 20X5 should be:

Answers

Final answer:

The accumulated depreciation of Vore Corp.’s equipment at December 31, 20X5, using the 150% declining balance method, is calculated by applying a 30% depreciation rate to the diminishing book value each year. After two years, the accumulated depreciation is $102,000.

Explanation:

To calculate the accumulated depreciation for Vore Corp.’s equipment at the end of two years using the 150% declining balance method, we need to apply the accelerated depreciation rate to the book value at the beginning of each year. As the equipment was purchased for $200,000 with a salvage value of $20,000, the depreciation base is $180,000. The annual depreciation rate is therefore 150% divided by the useful life of the equipment, which is 5 years, resulting in a 30% annual depreciation rate.

For the first year (20X4), the depreciation expense is 30% of $200,000, which is $60,000. The book value at the end of the first year will be $200,000 - $60,000 = $140,000. For the second year (20X5), we apply the 30% rate to the new book value of $140,000, resulting in a depreciation expense of $42,000 for that year. Therefore, the total accumulated depreciation at the end of 20X5 would be the sum of the two years’ depreciation expenses, which is $60,000 + $42,000 = $102,000.

The incentives built into the market economy ensure that resources are put to good use and that opportunities to make people better off are not wasted.
This means that:

A) people usually are not selfish enough to exploit opportunities to make themselves better off.
B) markets move toward equilibrium.
C) resources should be used as efficiently as possible to achieve society's goals.
D) markets usually lead to efficiency.

Answers

Answer:

D) markets usually lead to efficiency.

Explanation:

The incentives built into the economy ensures that the efficiency is achieved in markets except in case of market failure.

The 2011 income statements of Leggett & Platt, Inc., reports net sales of $3,636.0 million in 2011 and $3,359.1 million in 2010. The balance sheet reports accounts and other receivables, gross of $527.9 million at December 31, 2011, and $501.0 million at December 31, 2010. Calculate the average number of days that receivables were outstanding in 2011. Explain in plain English, what this ratio means. Did it improve from 2010?

Answers

Answer:

a) Average number of days in 2011 = 53 days

b) The days are lower than 2010, so it is better than 2010.

Explanation:

the question is to calculate the average number of days that receivables were outstanding in 2011

First, the formula

= (Accounts Receivable/The Net Credit Sales for the Period) x 365 days (days in a year)

Therefore:

1) The Net Sales for 2011 = $3,636 million

Accounts receivable for 2011=  $527.9 million

We then calculate the Receivable days outstanding for 2011 as follows

= 527.9 million  / 3,636 million x 365 = 53 days

2) The Net Sales for 2010= $3,359.1 million

Accounts receivable for 2010=  $501  million

We then calculate the Receivable days outstanding for 2010 as follows

= 501 million  / 3359.1 million x 365 = 54. 4 day

It should be noted that the higher the days of receivable were outstanding then the slower the revenue collection rate after sales. Therefore, a lower number of days is better.

Based on this, 2011 is better than 2010 because the number of days have reduced from 54.4 to 53 days.

Oak Island Amusements Center provides the following data on the costs of maintenance and the number of visitors for the last three years:Number of Visitors per Year: (thousands) Maintenance Costs ($000)1,925 $3,535 2,105 3,868 4,325 7,615Required:a. Use the high-low method to estimate the fixed cost of maintenance annually and the variable cost of maintenance per visitor. (Enter your answers in dollars not in thousands of dollars. Round "Variable cost" answer to 2 decimal places.) b. The company expects a record 2,800,000 visitors next year. What would be the estimated maintenance costs? (Enter your answer in dollars not in thousands of dollars.)

Answers

Answer:

formula for maintenance cost:

maintenance cost = 1.7 visitors + 262.5

cost for 2,800,000 visitors $5,022,500

Explanation:

We find and subtract low from high:

[tex]\left[\begin{array}{ccc}High&4325&7615\\Low&1925&3535\\Diference&2400&4080\\\end{array}\right][/tex]

With that we solve for the slope which is the variable cos:

cost 4080

Unis 2400

variable cost 1.7

now, we solve for the fixed cost:

Total Cost                7615.00

Variable 4325 x 1.7 =  7352.50  

Fixed Cost                  262.50

expected cost for 2,800 visitors:

(2800 x 1.7 + 262.5) x 1,000 = 5,022,500‬

What is the present value of a cash flow that begins with $1,500 deposited at the end of year 1 and increases by $500 per year thereafter through year 30 (so year 2 deposit is $2,000, and the last deposit will be at the end of year 30)? Assume interest is 6% annual rate compounded annually.

Answers

Answer:hahah

Explanation:u are so unsmart hahah lol

The following information is available for Aikman Company. January 1, 2022 2022 December 31, 2022 Raw materials inventory $21,000 $30,000 Work in process inventory  13,500  17,200 Finished goods inventory  27,000  21,000 Materials purchased $150,000 Direct labor  220,000 Manufacturing overhead  180,000 Sales revenue  910,000 Instructions a. Compute cost of goods manufactured. b. Prepare an income statement through gross profit. c. Show the presentation of the ending inventories on the December 31, 2022, balance sheet. d. How would the income statement and balance sheet of a merchandising company be different from Aikman's financial statements?

Answers

Answer:

a. $537,300

b.            Aikman Company  

             Income Statement  

For the year ended December 31, 2022  

 

Sales Revenue                 $910,000

Less: Cost of goods sold  

Raw material, beginning               21,000

Add:Purchases                  150,000

Raw materials available    171,000

Less: Raw material, end    30,000

Cost of raw material used    141,000

Add: Direct labor                  220,000

Prime Cost                           361,000

Add: Factory overhead   180,000

Manufacturing cost            541,000

Add: Work in process, beginning   13,500

Less: Work in process, Ending     17,200

Cost of Goods Manufactured  537,300

Add: Finished Goods, beginning   27,000

Less: Finished Goods, Ending    21,000

Cost of Goods Sold          543,300

Gross Profit                 $366,700

c. Raw materials, ending $30,000

Work in process, ending $17,200

Finished goods, ending $21,000

Total inventory               $68,200

d. The difference in the balance sheet and income statement of Aikman Company to Merchandising company is that, Aikman income statement consists of expenses arising from the manufacturing of goods that the merchandising company never incur. In addition to that, Aikman Company has ending inventory of Raw materials, work in process and finished goods while the other merchandising company only has ending inventory of good purchased not yet sold.

Explanation:

a. Aikman's statement of goods manufactured is presented below.    

               Aikman Company

Statement of Cost of Goods Manufactured

For the year ended December 31, 2022

Raw material, beginning               21,000

Add:Purchases                  150,000

Raw materials available    171,000

Less: Raw material, end    30,000

Cost of raw material used    141,000

Add: Direct labor                  220,000

Prime Cost                           361,000

Add: Factory overhead   180,000

Manufacturing cost            541,000

Add: Work in process, beginning   13,500

Less: Work in process, Ending     17,200

Cost of Goods Manufactured  537,300

b. Income statement of Aikman starts from the sales revenue that the company incurs for the period and then deduct the cost of goods sold to arrive the gross profit.

c. Aikman's inventory balance consists of Raw materials, work in process and finished goods balances.

The cost of goods manufactured for Aikman Company is calculated by adding materials, labor, and overhead costs to the opening WIP inventory and subtracting the ending WIP inventory. This is deducted from sales revenue to reveal gross profit. A merchandising company’s financial statements differ in that their COGS does not involve production costs.

To calculate the Cost of Goods Manufactured (COGM) for Aikman Company, we need to add the costs of materials, labor, and manufacturing overhead to the beginning Work in Process (WIP) inventory, and then subtract the ending WIP inventory. The COGM is the total cost incurred to manufacture products and transfer them into finished goods inventory during a set time period.

To prepare an income statement through gross profit, we need to subtract the COGM from the sales revenue. The balance left is the gross profit. The ending inventories would be presented under the current assets section in the balance sheet dated December 31, 2022.

Comparatively, a Merchandising company's financial statements differ mainly in terms of cost calculation. These companies directly purchase finished goods, thus their Cost of Goods Sold (COGS) would not include production costs such as direct labor or manufacturing overhead that are common for manufacturing companies like Aikman.

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Government survey takers determine that typical family expenditures each month in the year designated as the base year are as follows:

25 pizzas at $10 each
Rent of apartment, $600 per month
Gasoline and car maintenance, $100
Phone service (basic service plus 10 long-distance calls), $50

In the year following the base year, the survey takers determine that pizzas have risen to $11 each, apartment rent is $700, gasoline and maintenance have risen to $120, and phone service has dropped in price to $40.

a) Find the CPI in the subsequent year and the rate of inflation between the base year and the subsequent year

Answers

Answer:

1. CPI in the subsequent year: 1,135

2. Rate of inflation: 13.5%

Explanation:

1. Calculate the CPI

CPI is the consumer price index.

CPI is created using a basket of goods and services that are typically consumed.

In the given case the typical basket is:

25 pizzasRent of apartmentGasoline and car maintenancePhone service (basic service plus 10 long-distance calls).

Then to find the CPI for a determined year you multiply each item by its price and then add up all the results.

For the base year, the expenditures per month were:

25 pizzas at $ 10: $10 × 25 = $250 Rent of apartment:  $600Gasoline and car maintenance: $100Phone service (basic service plus 10 long-distance calls): $50

Then, the CPI for the base year is:

CPI = $250 + $600 + $100 + $50 = $1,000

The year following the base year, the expenditures per month are:

25 pizzas at $ 11 : $11 × 25 = $275 Rent of apartment:  $700Gasoline and car maintenance: $120Phone service (basic service plus 10 long-distance calls): $40

Then the CPI for the followng year is:

CPI = $275 + $700 + $120 + $40 = $1,135

2. Calculate the rate of inflation

The rate of inflation is defined as the increase of the CPI of the given year with respect ot the base year:

The formula to calculate the rate of inflation is:

Inflation = (CPI of the year - CPI of the base year) / (CPF of the base year) × 100

Inflation = [ (1,135 - 1,000) / (1,000)]  × 100 = 13.5%

Hence, the rate of inflation for the subsequent year is 13.5%

Which of the following are included in the typical bond indenture? I. the basic terms of the bond; II. details of the protective covenants; III. sinking fund arrangements; IV. call provisions

Answers

Answer:

D. I, II, III, IV. All of the above

Explanation:

Bond indentures are legal contracts between the issuer and the trustee that specifies the scope and responsibilities of everyone involved (borrower, trustee and lender) and also the features of the bond like maturity date and so on.

Things found in a bond indenture may include but not all

1. The name of the issuer.

2. Terms of the bond

3. Its features such as the principal value, coupon rate, dates when interest payments will be made, and maturity date.

4. Issuer’s obligations.

5. If the bonds are secured or not.

6. Protective Covenants details

7. call provisions.

8. Bondholders’ rights

9. Sinking fund arrangements.

Four of which are mentioned in the question, hence the answer given.

____________ is not an important middleware standard. CORBA (Common Object Request Broker Architecture Distributed Computed Environment (DCE) Asynchronous Transfer Mode (ATM) Open Database Connectivity (ODBC) None of the above is an appropriate answer

Answers

Answer:

Asynchronous Transfer Mode (ATM)

Explanation:

A middleware is a software that connects the frontend (user interface) with the backend (software core). For example when a user makes a request for data it passes throught the middleware before it gets to the backend where databases are stored.

Asynchronous transfer module (ATM) is a transfer protocol for transferring packets of data. Has more to do with networking.

Final answer:

'Asynchronous Transfer Mode (ATM)' is not an important middleware standard. Rather, it's a data transmission protocol. Therefore, it does not belong to the same category as CORBA, DCE, and ODBC, which are key middleware standards.

Explanation:

In the context of middleware standards, 'Asynchronous Transfer Mode (ATM)' is not regarded as an important middleware standard. Middleware allows applications to communicate with each other and work cohesively in an interconnected environment. Middleware standards like CORBA (Common Object Request Broker Architecture), DCE (Distributed Computed Environment), and ODBC (Open Database Connectivity) help in achieving this objective. However, 'Asynchronous Transfer Mode (ATM)' is actually a protocol used for data transmission and does not belong to the middleware category.

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A revenue center manager:

a. would normally be held accountable for producing an adequate return on invested capital.

b. does not have the ability to produce revenue.

c. may be the manager who oversees the operations of a retail store.

d. may be involved with the sale of new marketing programs to clients.

e. often oversees divisional operations.

Answers

Answer:

d. may be involved with the sale of new marketing programs to clients.

Explanation:

A revenue center manager -

It refers to the person , who is responsible for the generation of the sales , is referred to as a revenue center manager .

A good revenue center manager is determined by his or her ability to generate the sales , not  by the cost incurred .

Hence , from the given question,

The correct option is d.

An economy produces computer chips and fish. In 2014, one pound of fish costs $10, a computer chip costs $10, and the economy produces 10 pounds of fish and 10 computer chips. In 2015, when the economy produces 5 pounds of fish and 20 computer chips, one pound of fish costs $20 and a computer chip costs $5. Real GDP in 2015 (at 2014 prices) was _____ dollars.

Answers

Answer:

Real GDP (2014 price) = $ 250

Explanation:

GDP is the total value (PxQ) of goods & services, produced by an economy during a period of time. Real GDP is the value at constant base year prices.

Given [2015] : Fish Quantity =  5 , Computer Chip Quantity =  20

Base Year [2014] price : Fish = $10 , Computer Chip = $10

2015 Real GDP at 2014 base year price = Price 2014 x Quantity 2015

= (Fish PXQ) + (Computer Chip PXQ)

= (10 x 5) + (10 x 20)

= 50 + 200

= $ 250

The Real GDP in 2015 (at 2014 prices) is calculated by multiplying the quantities of goods produced in 2015 by their 2014 prices, resulting in a total of $250.

The student's question involves calculating the Real GDP in 2015 using 2014 prices. To find the Real GDP for 2015, we use the quantities of goods produced in 2015 and multiply them by the prices from 2014. For fish, in 2015, 5 pounds were produced, and the 2014 price was $10 per pound. For computer chips, 20 were produced in 2015, with the 2014 price being $10 each.

The Real GDP in 2015 at 2014 prices can be calculated as follows:

Real GDP from fish = Quantity in 2015 imes Price in 2014 = 5 pounds imes $10/pound = $50

Real GDP from computer chips = Quantity in 2015 imes Price in 2014 = 20 chips imes $10/chip = $200

Adding these values together gives:

Real GDP in 2015 (at 2014 prices) = $50 + $200 = $250 dollars.

Adjusting Entry at Balance Sheet Date

Yum! Brands, Inc. has the following receivables and payables denominated in foreign currencies, prior to closing on December 31. The spot rates at December 31 are also given.

Item Current $ balance FC balance December 31 spot rate
1. Receivable $65,000 1,000,000 Mexican pesos $0.06
2. Receivable 165,000 225,000 Canadian dollars 0.75
3. Payable 556,000 400,000 Jordan dinar 1.41
4. Payable 56,000 200,000 Saudi Arabian riyal 0.27

Prepare the adjusting entry recorded by Yum! Brands at December 31.

Answers

Answer:

The entries are prepared and explained in the explanations.

Explanation:

The question is to prepare the adjusting entries recorded by Yum! Brand

Number 1:

Account Items                                   Debit                   Credit

Cash                                               $60,000

Foreign Exchange loss                   $5,000

Accounts Receivable                                                  $65,000

(1,000,000 x 0.06= $60,000

65,000 - 60,000= $5,000 loss)

Number 2:

Account Items                                   Debit                   Credit

Cash                                              $168,750

Account Receivable                                                     $165,000

Foreign Exchange gain                                                $3,750

225,000 x 0.75= 168, 750

$168,750- $165,000 = $3,750

Number 3:

Account Items                                   Debit                   Credit

Accounts Payable                           $556,000

Foreign Exchange loss                    $8,000

Cash                                                                             $564,000

400,000 x $1.41 = $564,000

564,000-556,000= $8,000

Number 4:

Account Items                                   Debit                   Credit

Accounts Payable                          $56,000

Foreign Exchange gain                                                $2,000

Cash                                                                               $54,000                                

200,000 x $0.27= $54,000

56,000- 54,000=$4000

If Miles and Hunter work​ together, which of the following points would NOT be on their​ economy-wide PPF? A. 15 dogs walked and 11 dogs groomed B. 0 dogs walked and 14 dogs groomed C. 40 dogs walked and 0 dogs groomed D. 20 dogs walked and 4 dogs groomed

Answers

Answer:

D. 20 dogs walked and 4 dogs groomed

Explanation:

The point (20,4) comes inside of the PPF, if we place all the point on a graph paper then we get a graph where the point (20,4) is inside than the other points so it is not on the PPF .

As a Christmas thank you for being a good employee, Ed's TV Repair gave 62-year-old Edwina three shares of its stock worth $20 per share. Edwina then received dividends of $1 per share related to the stock. How much should be included in Edwina's gross income? a. $0 b. $60 c. $3 d. $63 e. None of these

Answers

Answer:

d. $63

Explanation:

This "thank you" classifies as a performance bonus and, therefore, Edwina should include the whole market value plus dividends received from the three shares of Ed's TV Repair stock that she earned. The total amount for the shares' value plus dividends earned is:

[tex]A = 3*(\$20+\$1)\\A=\$63[/tex]

Edwina should include $63 in her gross income.

The fiscal 2016 financial statements of Nike Inc. shows average net operating assets (NOA) of $8,450 million, average net nonoperating obligations (NNO) of $(4,033) million, average total liabilities of $9,014 million, and average equity of $12,483 million. The company's 2016 financial leverage (FLEV) is: Select one: A. (0.477) B. (0.559 C. (0.323) D. (0.447) E. There is not enough information to determine the ratio.

Answers

Answer:

C. (0.323)

Explanation:

The computation of financial leverage is shown below:

= (Average net nonoperating obligations) ÷ ( average equity)

= ($4,033 million) ÷ ($12,483 million)

= (0.323)

In order to find out the financial leverage, we deduct the average net non-operating obligations by the average equity so that the financial leverage could come

The financial leverage (FLEV) for Nike Inc. in 2016 is approximately 1.91. None of the provided options in the choices accurately represents this ratio, as FLEV is typically a positive value.

To calculate the financial leverage (FLEV) for Nike Inc. in 2016, you can use the following formula:

[tex]\[FLEV = \frac{NOA}{NOA + NNO}\][/tex]

Where:

- NOA = Average Net Operating Assets

- NNO = Average Net Nonoperating Obligations

Plugging in the given values:

NOA = $8,450 million

NNO = $(4,033) million (note that this value is negative)

[tex]\[FLEV = \frac{8,450}{8,450 - 4,033} = \frac{8,450}{4,417} \approx 1.91\][/tex]

Since the result is positive, the correct answer is none of the provided options.

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The following account balances were taken from the 2021 post-closing trial balance of the Bowler Corporation: cash, $9,500; accounts receivable, $19,500; inventory, $35,000; equipment, $210,000; accumulated depreciation, $78,000; accounts payable, $75,000; salaries payable, $31,000; retained earnings, $21,000; and common stock, $69,000.
Prepare a balance sheet

Answers

Final answer:

The balance sheet of the Bowler Corporation for 2021 includes total assets of $196,000 (cash, accounts receivable, inventory, and net equipment), total liabilities of $106,000 (accounts payable and salaries payable) and total equity of $90,000 (common stock and retained earnings). The sum of total liabilities and total equity equals the total assets, corroborating the fundamental accounting equation.

Explanation:

The Balance Sheet of Bowler Corporation for the year ending 2021 would look like this:

AssetsCash: $9,500Accounts Receivable: $19,500Inventory: $35,000Equipment: $210,000 less Accumulated Depreciation: $78,000 equals Net Equipment: $132,000Total Assets

=$196,000

LiabilitiesAccounts Payable: $75,000Salaries Payable: $31,000Total Liabilities

=$106,000

EquityCommon Stock: $69,000Retained Earnings: $21,000Total Equity

=$90,000

Do note that the Total Assets is equal to Total Liabilities plus Total Equity which satisfies the fundamental accounting equation.

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When you were​ born, your grandfather established a trust fund for you in the Cayman Islands. The account has been earning interest at the rate of 66​% per year. If this account will be worth ​$120 comma 000120,000 on your 2323th ​birthday, how much did your grandfather deposit on the day you were​ born?

Answers

Answer:

$1.0391

Explanation:

The question is asking for the calculation of the present value of a future sum.

First, the Future Value = $120,000 = FV

The number of years to achieve the value is = 23 years = N

and the earning interest rate per year is 66%= r

Based on these information, the formula for calculating the future value is as follows:

FV / (1/ (1+ r)∧)n)

Using the formula, we have the following:

$120,000/ [1/(1+0.66)∧23]

$120,000 /(1/115474.48258)

$120,000/ (0.0000086599)

=$1.0391

Final answer:

Using the compound interest formula and provided the interest is compounded annually, it's calculated that the grandfather deposited approximately $138.51 in the trust fund upon the student's birth.

Explanation:

This problem is about understanding compound interest. The formula for compound interest is A = P(1 + r/n)nt where:

A is the money accumulated after n years, including interest. P is the principal amount (the initial money). We’re trying to find this. r is the interest rate (decimal). In this case, it's 0.66. n is the number of times that interest is compounded per unit t. t is the time the money is invested for in years. Here it's 23 years.

Since we don’t have the details on how many times the interest is compounded, we’ll consider it compounded annually. So n = 1.

Plugging in the known values into the compound interest formula gives us:

120,000 = P(1 + 0.66)23

Solving for P, we find that the amount of money that your grandfather deposited on the day you were born would have been approximately $138.51.

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Yi Min started an engineering firm called Min Engineering. He began operations and completed seven transactions in May, which included his initial investment of $18,000 cash. After those seven transactions, the ledger included the following accounts with normal balances. Cash $ 37,600 Office supplies 890 Prepaid insurance 4,600 Office equipment 12,900 Accounts payable 12,900 Common stock 18,000 Dividends 3,370 Engineering fees earned 36,000 Rent expense 7,540 Required: 1. Prepare a trial balance for this business as of the end of May.

Answers

Answer:

                                            Trial balance for Yi Min

                                                on the May 31, YY

                                                                             Dr.                  Cr.

                                                                              $                     $

Cash                                                                  37,600

Office supplies                                                      890

Prepaid insurance                                             4,600

Office equipment                                             12,900

Dividends                                                            3,370

Rent expense                                                      7,540

Accounts payable                                                                    12,900

Common stock                                                                         18,000

Engineering fees earned                                                     36,000

                                                                           66,900         66,900

Final answer:

The trial balance includes all the accounts and balances. The total debit is $66,900 and total credit is $66,900, so the trial balance is balanced.

Explanation:

To prepare a trial balance, you list all the accounts titles and their balances. In trial balance, debits will be listed on the left and credits on the right. We start with assets accounts followed by liabilities, equity, revenue, and finally expenses. The sum of debit balance should be equal to the sum of credit balance.

Here is the trial balance for Min Engineering at the end of May:

Debit: Cash $37,600Debit: Office Supplies $890Debit: Prepaid Insurance $4,600Debit: Office Equipment $12,900Credit: Accounts Payable $12,900Credit: Common Stock $18,000Debit: Dividends $3,370Credit: Engineering Fees Earned $36,000Debit: Rent Expense $7,540

Total Debit = $37,600 + $890 + $4,600 + $12,900 + $3,370 + $7,540 = $66,900

Total Credit = $12,900 + $18,000 + $36,000 = $66,900

The totals of debit and credit match, so the trial balance is balanced.

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The accounting department of a garment manufacturing company has estimated that the variable cost will be $21 per unit for a new designer-labeled dress to be introduced for teenage girls. Fixed costs are anticipated to be $1M per year. Forty percent of the business for this garment will be with one preferred customer and will be charged $28 per unit. The remaining 60% of the business will be with several other customers who will be charged $40 per unit. i. Compute a. the breakeven volume for this plant. b. the unit cost if 100,000 units are made per year. c. the annual profit for this quantity. ii. The management wants to know if it should really make this garment if it expects a profit of at least $500,000 per year on this venture.

Answers

Answer:

i.

a. Break-even volume: 70,423 units;

b. Unit cost if 100,000 units are made: $31;

c. Annual profit at 100,000 units made: $420,000.

ii.

The company should make this garment if the company should be able to manufacture and sell 105,634 units per year.

Explanation:

i.

a. Break-even volume:

Denote x is the break-even volume, then we have:

1,000,000 = 0.4* X * ( 28 - 21) + 0.6 * X * ( 40 -21) <=> 14.2X = 1,000,000 <=> X = 70,423 units;

b. Unit cost if 100,000 units are made:

Total cost if 100,000 units are made = 1,000,000 + 100,000 * 21 = $3,100,000;

Unit cost = 3,100,000 / 100,000 = $31.

c. Annual profit at 100,000 units made = Total revenue - Total cost = 100,000*0.4*28 + 100,000*0.6*40 - 3,100,000 = 3,520,000 - 3,100,000 = $420,000.

ii.

To meets the minimum expected profit given costs, selling price and sell structure remains the same, the company should be able to manufacture and sell Y units per year, with Y is calculated as below:

0.4 * Y * (28-21) + 0.6 * Y * (40-21) - 1,000,000 = 500,000 <=> 14.2Y - 1,000,000 = 500,000 <=> 14.2Y = 1,500,000 <=> Y = 105,634 units

So, it should make this garment if the company should be able to manufacture and sell 105,634 units per year.

Harlan Gravity Grips produces spike sets for track shoes. CEO Brittany Harlan has gathered the following information about the company’s sales volume and marketing cost for the past six months. Sales Volume Total Marketing Costs January 550,840 $82,788 February 390,728 $72,871 March 561,080 $83,092 April 543,000 $82,188 May 546,336 $82,492 June 552,544 $82,864 Collapse question part (a) Using the high-low method, compute the variable marketing cost per spike set. (Round unit cost to 2 decimal places, e.g. 12.50.) Variable marketing cost = $ per spike set sold

Answers

Answer:

0.06 per spike set sold

Explanation:

The computation of the variable marketing cost per spike set is shown below:

Variable cost per spike set  = (High total marketing cost - low total marketing cost) ÷ (High sales volume - low sales volume )

= ($83,092 - $72,871) ÷ (561,080 - 390,728)

= $10,221 ÷ 170,352

= 0.06 per spike set sold

Hence, the variable marketing cost per spike set is $0.06

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