Answer:
The answer is a. Demographic and population changes within society
Explanation:
Suppose that the total benefit and total cost from a continuous activity are, respectively, given by the following equations:
B(Q) = 100 + 36Q – 4Q^2 and C(Q) =80 + 12Q.
(Note: MB(Q) = 36 – 8Q and MC(Q) = 12.)
Use a negative sign (-) where appropriate.
a. Write out the equation for the net benefits.
b. What are the net benefits when Q = 1? Q = 5?
c. Write out the equation for the marginal net benefits.
Answer:
a. 20 + 24Q - 4Q^2
b. 40 ; 40
c. 24 - 8Q
Explanation:
The equations are as follows:
a. The net benefit is
= Total benefits - Total costs
where,
Total benefits = B(Q) = 100 + 36Q – 4Q^2
Total costs = 80 + 12Q.
So, the net benefit is
= 100 + 36Q - 4Q^2 - 80 - 12Q
= 20 + 24Q - 4Q^2
b. When Q = 1,
N(Q) = 20 + 24 ×1 - 4×1^2
= 40
When Q = 5,
N(Q) = 20 + 24 × 5 - 4×5^2
= 40
c. MNB(Q) = dN(Q) ÷ dQ
= 24 - 8Q
We use the derivatives
The equation for net benefits is NB(Q) = 20 + 24Q - 4Q^2. When Q = 1, the net benefits are 40, and when Q = 5, the net benefits are also 40. The equation for marginal net benefits is MNB(Q) = 24 - 8Q.
Explanation:a. The equation for net benefits is NB(Q) = B(Q) - C(Q). Substituting the given equations for B(Q) and C(Q), we have NB(Q) = (100 + 36Q - 4Q^2) - (80 + 12Q). Simplifying further, NB(Q) = 20 + 24Q - 4Q^2.
b. To find the net benefits when Q = 1, we substitute Q = 1 into the equation NB(Q). NB(1) = 20 + 24(1) - 4(1)^2 = 20 + 24 - 4 = 40. Similarly, when Q = 5, NB(5) = 20 + 24(5) - 4(5)^2 = 20 + 120 - 100 = 40.
c. The equation for marginal net benefits is calculated by taking the derivative of the net benefits equation. Taking the derivative of NB(Q) = 20 + 24Q - 4Q^2, we get the marginal net benefits equation as MNB(Q) = 24 - 8Q.
Learn more about Net Benefits here:https://brainly.com/question/24173553
#SPJ3
Ashley had $10,000 in credit card debt. She negotiated a settlement with the credit card company, and the credit card company agreed to cancel $6,000 of the debt.
If Ashley has total assets of $25,000 and total liabilities of $50,000 at the time the debt was cancelled, what amount of gross income does Ashley have as a result of the credit card company cancelling $6,000 of her debt?
Answer:
The amount waived off by the lender must be treated just like gross income. The total figure for the gross income will be:
Total assets = Equity + Liability
By putting values we have:
$25,000 = Earnings losses (Equity) + $50,000
Earnings Losses = $25,000 - $50,000 = -$25,000
So the Gross losses are $25,000. Now we will reduce this losses by $6000 which is debt cancellation. The Net losses are $19,000 which are trading losses and must be offset against trading income.
Marcos Company reported the following items on its financial statements for the year ending December 31, 2016:
Sales $ 560,000
Cost of goods sold $400,000
Salary expense 40,000
Interest expense 30,000
Dividends 20,000
Income tax expense 25,000.
Required:
1. How much will be reported as retained earnings on Las Palmas' balance sheet at December 31, 2017, if this is the first year of operations?
Answer:
$35,000
Explanation:
Gross Profit:
= Sales - Cost of Goods sold
= $560,000 - $400,000
= $160,000
Income before tax:
= Gross Profit - Salary Expense - Interest expense
= $160,000 - $40,000 - $30,000
= $90,000
Income after tax:
= Income before tax - Tax
= $90,000 - $25,000.
= $65,000
Transfer to Retained Earnings:
= Income after tax - Dividend
= $65,000 - $30,000
= $35,000
Closing Retained Earnings:
= Net Income (After tax) - Dividend payment
= $65,000 - $30,000
= $35,000
To calculate the retained earnings on the balance sheet, subtract the total expenses from the sales revenue to find the net income. Then, subtract any dividends paid out from the net income to find the retained earnings.
Explanation:To calculate the retained earnings on the balance sheet, we need to consider the net income of the company for the first year of operation. Net income is calculated by subtracting the total expenses from the sales revenue. In this case, net income would be calculated as: $560,000 (sales) - $400,000 (cost of goods sold) - $40,000 (salary expense) - $30,000 (interest expense) - $25,000 (income tax expense) = $65,000.
The retained earnings can then be calculated by subtracting any dividends paid out from the net income. In this case, the dividends paid out are $20,000, so the retained earnings would be: $65,000 - $20,000 = $45,000.
Therefore, the amount reported as retained earnings on the balance sheet at December 31, 2017, if this is the first year of operations, would be $45,000.
Learn more about Retained earnings here:https://brainly.com/question/33501693
#SPJ3
You just graduated and landed your first job in your new career.
You remember that your favorite finance professor told you to begin the painless job of saving for retirement as soon as possible, so you decided to put away $2,000 at the end of each year in a Roth IRA.
Your expected annual rate of return on the IRA is 7.5%.
How much will you accumulate at retirement after 40 years of investing ***(note: this may assume that you are even retiring early)*** ?
which is best choice:
A). $1,088,632
B). $94,426
C). $247,921
D). $454,513
Answer:
correct option is D). $454,513
Explanation:
given data
Annuity = $2000
rate = 7.5 % = 0.075
time period = 40 year
solution
we get here Future value of annuity that is express as
Future value of annuity = Annuity × [tex]\frac{(1+r)^t -1}{r}[/tex] ......................1
here r is rate and t is time period so now put value and we get
Future value of annuity = $2000 × [tex]\frac{(1+0.075)^{40} -1}{0.075}[/tex]
Future value of annuity = $454513.03
so correct option is D). $454,513
The correct answer is D) $454,513, which is obtained by using the future value of an annuity formula that considers a $2,000 annual contribution, a 7.5% expected annual rate of return, and a 40-year investment period.
The question involves calculating the future value of an annuity when you plan to save $2,000 annually at the end of each year in a Roth IRA, with an expected annual rate of return of 7.5% over 40 years. To find the accumulated amount at retirement, we will use the future value of an annuity formula:
FV = P × [( 1 + r)^n – 1] / r
Where:
FV = Future Value of the annuity
P = Annual payment ($2,000)
r = Annual interest rate (7.5% or 0.075)
n = Number of years (40)
By plugging in the values:
FV = $2,000 × [( 1 + 0.075)^40 – 1] / 0.075
Therefore, After calculating the formula, we find that the amount you will accumulate at retirement after 40 years of investing is $454,513.
Current Attempt in Progress Restate the following income statement for a retailer in contribution format. Sales revenue ($100 per unit) $ 66,000 Less cost of goods sold ($56 per unit) 36,960 Gross margin 29,040 Less operating costs: Commissions expense ($6 per unit) $ 3,960 Salaries expense 7,900 Advertising expense 5,800 Shipping expense ($3 per unit) 1,980 19,640 Operating income $ 9,400
Answer:
Contribution Margin Income Statement for the year end MM DD, YY
$ $
Sales revenue ($100 per unit) 66,000
Less: Variable Cost
Less cost of goods sold ($56 per unit) 36,960
Commissions expense ($6 per unit) 3,960
Shipping expense ($3 per unit) 1,980
42,900
Contribution Margin 23,100
Less: Fixed Cost
Salaries expense 7,900
Advertising expense 5,800
13,700
Net Income 9,400
Andy: "This is to confirm our telephone conversation of earlier today. 200 lbs. of T-bone at $2.89 per pound." Barb: "Yes, but that's 100 pounds at $2.99." Andy: "Too late, we already reached agreement by phone." Barb: "Too bad, it wasn't in writing." Which of the following statements is true? a. Barb is incorrect. The phone conversation was a contract. b. Barb is correct. The agreement must be in writing to be enforceable. c. Andy can enforce the agreement with the parol evidence rule. d. none of the above
Barb is correct. The agreement must be in writing to be enforceable.
Explanation:
A written agreement that is legally binding is a true agreement and can therefore be enforced.
It ensures that the people that signed the agreement must perform their duties under the agreement. We can be penalized if they do not.
Although documents need not be published to be legally binding, it is a good idea to keep a record in writing of what you have agreed. It minimizes the likelihood that you and the other side will find themselves on the same page in a disagreement. The article describes the conditions for a legally binding written agreement.
Using a conservative end of period cash flow approach when applying the conventional payback method, what is the payback period when the upfront investment is 124,000 and the end of period cash flow is 25,000?
Answer:
5 years
Explanation:
According to the conservative end of period cash flow approach, cash flow is only computed at the end of the period. Therefore, the payback occurs at the year when the balance ceases to be negative. With constant cash flows of $25,000:
[tex]Initial\ \ \ \ \ \ \ \ \ \ \ \ -\$124,000\\End\ of\ year\ 1\ -\$99,000\\End\ of\ year\ 2\ -\$74,000\\End\ of\ year\ 3\ -\$49,000\\End\ of\ year\ 4\ -\$24,000\\End\ of\ year\ 5\ \ \ \ \ \$1,000[/tex]
The payback period is 5 years.
Ries and Bax each have a partner’s capital balance of $17,500. They split profits and losses equally. Royce is accepted as a 1/3 partner in RB&R Company after contributing $10,000 cash. The partners agree that a 10% interest allowance will be given on each partner’s beginning-year capital balance. In addition, Bax and Royce are to receive $5,250 salary allowances. The remainder of the income or loss is to be divided between Ries, Bax, and Royce in a 3:2:1 ratio.
12/31/2015 - The partnership’s income for the year is $60,000.
12/31/2016 - The partnership incurred losses of $34,000 for the year. The balance sheet shows $12,500 cash, $135,000 inventory, and $77,000 of accounts payable as of 12/31/16. After selling inventory and using all assets to pay off accounts payable at book value, there is $18,600 cash remaining. The partnership decides to liquidate. Negative capital balances will be covered by other partners.
Answer:
tbh i did b
Explanation:
i did it
The Alliance Corp. expects to sell the following number of units of copper cables at the prices indicated, under three different scenarios in the economy. The probability of each outcome is indicated.
Outcome Probability Units Price
A 0.20 315 $38
B 0.50 550 53
C 0.30 870 73
What is the expected value of the total sales projection?
Answer:
$36,022
Explanation:
Given that,
Outcome A:
Probability = 0.20
Units = 315
Price = $38
Outcome B:
Probability = 0.50
Units = 550
Price = $53
Outcome C:
Probability = 0.30
Units = 870
Price = $73
Therefore,
Expected value of the total sales projection:
= Outcome A + Outcome B + Outcome C
= (0.20 × 315 × $38) + (0.50 × 550 × $53) + (0.30 × 870 × $73)
= $2,394 + $14,575 + $19,053
= $36,022
The expected value of the total sales projection is $36,346.
Explanation:The expected value of the total sales projection can be calculated by multiplying the number of units sold in each scenario by the corresponding probability and price, and then summing up those values. In this case, we have three scenarios: A, B, and C. Here are the calculations:
Now, we can find the total expected value by summing up the values for each scenario:
Total expected value = $2,394 + $14,575 + $19,377 = $36,346
Learn more about expected value here:https://brainly.com/question/35639289
#SPJ3
If a company is considering the purchase of a parcel of land that was acquired by the seller for $96,000 is offered for sale at $172,000, is assessed for tax purposes at $106,000, is recognized by the purchaser as easily being worth $162,000, and is purchased for $159,000, the land should be recorded in the purchaser's books at:a. $106,000. b. $159,000. c. $160,500. d. $162,000. e. $172,000.
Answer:
correct option is b. $159,000
Explanation:
given data
purchase land = $96,000
offer sale = $172,000
assessed for tax purposes = $106,000
recognized purchaser worth = $162,000
purchased = $159,000
solution
we know that when we purchase a parcel of land then
the price paid for by the purchaser is the amount and that amount is to be recorded in the books
so that land will record in the purchaser books is $159,000
so correct option is b. $159,000
Badger World Wide manufactures military, work, sport, and casual footwear and leather accessories under a variety of brand names, such as Caterpillar, Hush Puppies, Wolverine, and Steve Madden. The following transactions occurred during a recent month.
a. Made cash sales of $54,600 (example).
b. Purchased $4,650 of additional supplies on account.
c. Borrowed $62,600 on long-term notes.
d. Purchased $25,200 in additional equipment, paying in cash.
e. Incurred $29,700 in selling expenses, paying two-thirds in cash and owing the rest on account.
f. Paid $8,200 in rent for this month, and $8,200 for next month.
Required:
For each of the transactions, complete the table below, indicating the account, amount, and direction of the effect (+ for increase and − for decrease) of each transaction under the accrual basis. Include revenues and expenses as subcategories of stockholders’ equity, as shown for the first transaction, which is provided as an example. Also, determine the company’s preliminary net income. (Enter any decreases to account balances with a minus sign.)
Answer:
a) The table is completed in the explanation
b) Net income = $16,700
Explanation:
The question is to complete a calculation table for each of the transactions as follows:
Transaction Assets = Liabilities + Stockholders Equity
a. Cash $54,000 Revenue 54,000
b. Supplies +4,650 Account Payable +4,650
c. Cash +62,600 Notes Payable +62,600
d. Equipment +25,200
Cash -$25,200
e. Cash -$19,800 Accounts Payable +9,900 Sell Exp -29,700
f. Prepaid Expense +$8,200 rent Exp -8,200
Cash -$16,400
$93.850 $77,150 $16,700
2. Calculate the Preliminary Net income for the company
Description Amount
Sales Rev. $54,600
Subtract:
Selling Expenses ($29,700)
Rent Expenses ($8,200)
Net Income $16,700
The transactions affected various accounts under the accrual basis in different ways, some increasing and some decreasing. The preliminary net income for the month was calculated to be $16,700.
Explanation:Transaction (a): Cash account increases by $54,600 (+). Revenues increase by $54,600 (+), affecting stockholders' equity positively.
Transaction (b): Supplies account increases by $4,650 (+). Accounts Payable increases by $4,650 (+), affecting stockholders’ equity negatively.
Transaction (c): Cash account goes up by $62,600 (+). Long-term Notes Payable increase by $62,600 (+), which doesn't affect stockholders' equity directly.
Transaction (d): Equipment account increases by $25,200 (+). Cash account decreases by $25,200 (-), which doesn't affect stockholders’ equity directly.
Transaction (e): Selling expenses amount to $29,700 (+), which decreases stockholders' equity. Cash goes down by $19,800 (-) and Accounts Payable go up by $9,900 (+).
Transaction (f): Prepaid Rent account goes up by $8,200 (+). Cash account decreases by $16,400 (-). Rent Expense decreases stockholders’ equity by $8,200 (-).
Preliminary Net Income: This is the total Revenue minus the Expenses. If we count the revenues as $54,600 and selling expenses as $29,700 and rent expense as $8,200, the preliminary net income will come out to $16,700.
Learn more about Accrual Accounting here:https://brainly.com/question/34770329
#SPJ3
g You take a loan for $25,000 to pay for school. You want to pay it back within 4 years by making equal monthly payments. There is a 15% interest rate on the money borrowed. Determine the monthly payment.
Answer:
$696 (approx)
Explanation:
Given:
Loan amount(P) = $25,000
Years = 4
Interest rate = 15%
Number of total month(n) = 4*12 = 48
Monthly interest rate(r) = 15 / (12*100) = 0.0125
[tex]EMI = \frac{pr(1+r)^n}{(1+r)^n-1} \\EMI = \frac{25,000\times 0.0125(1+0.0125)^{48}}{(1+0.0125)^{48}-1}\\\\ EMI = \frac{312.5(1.0125)^{48}}{(1.0125)^{48}-1}\\\\ EMI = \frac{312.5(1.81535485)}{(1.81535485)-1}\\\\EMI = \frac{567.2983}{0.81535485}\\\\EMI = 695.7685[/tex]
Suppose nominal GDP increased in a given year. Based on this information, we know with certainty that:
A. real output has increased.
B. the price level (GDP deflator) has increased.
C. real output and the price level (GDP deflator) have both increased.
D. either real output or the price level (GDP deflator) have increased.
E. real output has increased and the price level has decreased.
Answer:
D. either real output or the price level (GDP deflator) have increased.
Explanation:
GDP is the total value (price x quantity) of goods & services produced by an economy during an a time period.
Real GDP is calculated on the basis of base year price index. Nominal GDP is calculated on the basis of current year price index.
So: Real GDP increases only due to rise in output quantity, not by price. Nominal GDP can increase due to rise in both output quantity or in price level (reflected in deflator).
This makes Real GDP a better measure of Economic growth than Nominal GDP, since it captures effect of increased production only (& not price).
Deflator is a measure of average price level change =
Nominal GDP X 100
Real GDP
Deflator > 100 shows inflation in general price level, Deflator < 100 shows deflation in general price level.
International Turtle Trap Manufacturing Corporation's side payments to government officials in exchange for favorable business contracts in foreign countries are considered, in the United States,
A. True
B. False
Answer: THEY ARE CONSIDERED IN THE UNITED STATES AS ILLEGAL AND UNETHICAL.
Explanation: The side payment for favorable business contracts in foreign countries made by International Turtle Trap Manufacturing Corporation is an ILLEGAL AND UNETHICAL ACT, which is punishable under the Constitution of the United States of America and most other developed countries of the world.
Side payments are payments made outside the recommended payments as stated or listed in the terms of agreement in order to subvert justice and Due process in the execution of tasks or contracts.
Cotrone Beverages makes energy drinks in three flavors: Original, Strawberry, and Orange. Company is currently operating at 75 percent of capacity. Worried about the company's performance, the company president is considering dropping the Strawberry flavor. If Strawberry is dropped, the revenue associated with it would be lost and the related variable costs saved. In addition, the company's total fixed costs would be reduced by 15 percent.Segmented income statements appear as follows:Product Original Strawberry OrangeSales $ 33,300 $ 42,400 $ 50,900 Variable costs 23,310 38,160 40,720 Contribution margin $ 9,990 $ 4,240 $ 10,180 Fixed costs allocated to each product line 4,600 6,400 7,800 Operating profit (loss) $ 5,390 $ (2,160 ) $ 2,380 Required:a. Prepare a differential cost schedule.Status Quo Alternative:DropStrawberryDifference (all lower underthe alternative)Revenue Less: Variable costs Contribution margin Less: Fixed costs Operating profit (loss) b. Should Cotrone drop the Strawberry product line?YesNo
Relevant Information:
The relevant information is as under:
Segmented income statements appear as follows:
Product Original Strawberry Orange
Sales 65,200 85,600 102,400
Variable costs (44,000) (77,200) (80,200)
Contribution margin 21,200 8,400 22,200
Fixed costs allocated (9,400) (12,000) (14,200)
Operating profit (loss) 11,800 (3,600) 8,000
Answer:
The product not be closed because it is generating net cash flows of ($3,060), which will generate loss for the organization. The better option would be to not abandoning the manufacturing of Strawberry.
Explanation:
Relevant costing says that any savings or losses are relevant if it satisfy following three conditions:
Is a cash flow.Future related (Not arising due to Past bindings).Differential or Incremental in nature.Its crystal clear that any inflows and outflows that are considered would be cash in nature, not related to past events it must be arising as a consequence of taking the decision whose consequences are we considering now, I mean it must arise in future due to the decision made which are considering. The last condition is the concept of differential that lies in the heart of relevant costing and is easily understood by following the following steps:
Step 1: What are the losses or savings if we don't make decision?
Step 2: What are the losses or savings if we make the decision?
Step 3: The difference between step one and two is differential or incremental cost.
Here we learned that relevant cost arises if we take the decision (closing manufacturing of Strawberry), and it doesn't arises if we don't take the decision (not abandoning manufacturing of Strawberry).
Relevant costs associated with the decision are as under:
Step 1 Step 2 Step 3
Make Decision If we Don't Differential
Revenue loss (85,600) - (85,600)
Variable Costs Savings 77,200 - 77,200
Fixed costs Savings (W1) 5340 - 5340
Operating Profit (3,060)
Working1: Fixed costs Savings
Total Fixed costs =21400+12000+14200 = $35,600
The saving is 15% of the total fixed cost and is as under:
Fixed costs Savings = $35,600 * 15% = $5340
Note:
Kindly also practice the following question:
https://brainly.com/question/14423321
Crane Machine Works produces soft serve ice cream freezers. The freezers sell for $17,000, and variable costs total $12,100 per unit. Crane incurs $25,860,000 in fixed costs during the year. The company’s tax rate is 28%. How many freezers must Crane sell to generate net income of $7,668,000? (Round answer to 0 decimal places, e.g. 5,275.)
Answer:
7,451
Explanation:
The net income is the profit/loss made after the deduction of all expenses from the revenue or sales made including taxes.
The cost elements includes the fixed cost and the variable cost which is dependent on the level of activities.
Given,
Fixed cost = $25,860,000
Variable cost per unit = $12,100
Selling price per unit = $17,000
Tax rate = 28%
Net income planned = $7,668,000
Let the number of freezers to be sold be p
17000p - (12100p + 25,860,000) - 0.28((17000p - (12100p + 25,860,000))= 7,668,000
0.72((17000p - (12100p + 25,860,000)) = 7,668,000
3528p = 7,668,000 + 18619200 = 26287200
p = 26287200 /3528
p = 7451
Crane Machine Works would have to sell 7,451 freezers to make a net profit of $7,668,000.
Final answer:
Crane Machine Works must sell approximately 7,451 soft serve ice cream freezers,
Explanation:
To calculate how many soft serve ice cream freezers Crane Machine Works must sell to generate a net income of $7,668,000, we first need to determine the contribution margin per unit, which is the selling price minus the variable costs. The contribution margin is $17,000 - $12,100 = $4,900 per freezer.
Next, we must calculate the total amount needed to cover the fixed costs and desired net income before taxes. This amount is $25,860,000 (fixed costs) + $7,668,000 (desired net income) = $33,528,000. As Crane's tax rate is 28%, the pre-tax income must be $7,668,000 / (1 - 0.28) = $10,650,000. Therefore, the total amount needed before taxes would be $25,860,000 + $10,650,000 = $36,510,000.
Finally, dividing this amount by the contribution margin per unit gives us the number of freezers Crane needs to sell: $36,510,000 / $4,900 approx. 7,451 freezers.
Consider the following income statement: Sales $510,944 Costs 332,416 Depreciation 77,300 EBIT ________? Taxes (32%) ________? Net income ________? What is the amount of the depreciation tax shield?
Answer:
$101,228; $68,835; $24,736
Explanation:
Given that,
Sales = $510,944
Costs = $332,416
Depreciation = $77,300
Tax rate = 32%
EBIT:
= Sales - costs - Depreciation
= $510,944 - $332,416 - $77,300
= $101,228
Net income = EBIT - Taxes
= $101,228 - ($101,228 × 32%)
= $101,228 - $32,393
= $68,835
Depreciation tax shield:
= Depreciation × Tax rate
= $77,300 × 32%
= $24,736
Fill in the blanks with given options:
Suppose the price elasticity of demand for heating oil is 0.2 in the short run and 0.7 in the long run.
a. If the price of heating oil rises from $1.90 to $2.10 per gallon, the quantity of heating oil demanded will _______ by in the short run and by ________ in the long run. The change is ________ in the long run because people can respond ________ easily to the change in the price of heating oil.
Options:
1. fall/rise
2. smaller/larger
3. less/more
Answer:
1. fall
2. Larger
3. more
Explanation:
The price elasticity is relative measure of change in demand. When the demand of heating oil decreases due to increase in price then the heating oil is considered as price elastic. The elasticity of heating oil is 0.2 in the short run and 0.7 in the long run which means customers respond less in change of demand in short run due to change in price. When the price of heating oil increases, the demand will fall in the short run.
In the short run customers may not find time to respond to the change in price. The change in demand in short run is smaller and change in demand in Long run will be larger.
The price elasticity of heating oil is more in long run because customer may find alternate sources at a cheaper rate and may switch to it causing a greater fall in demand of heating oil.
Mr. and Mrs. Dane and their six children own 100 percent of the stock in three family corporations. Do these corporations qualify as an affiliated group eligible to file a consolidated corporate tax return?
Mr. and Mrs. Dane and their six children may be an affiliated group eligible to file a consolidated corporate tax return if they meet the IRS criteria of common control and unitary business. An individual who owns a corporation and is the sole employee is liable for federal income tax, self-employment tax, and possibly corporate income tax, depending on the structure of the corporation.
Explanation:The question pertains to whether Mr. and Mrs. Dane and their six children, who own 100 percent of the stock in three family corporations, are considered an affiliated group eligible to file a consolidated corporate tax return. Under IRS regulations, a group of corporations may file a consolidated tax return if they are engaged in a unitary business under common control. Typically, common control entails direct ownership of at least 80 percent of the voting power and value of the stock. If Mr. and Mrs. Dane and their children meet these criteria with each of their family corporations, they could potentially file a consolidated return. However, there are additional rules and complexities to consider when determining eligibility for filing a consolidated return.
Regarding the question about the types of federal tax an individual would have to pay if they own a corporation and are the only employee, the individual will generally be responsible for several types of taxes. These typically include federal income tax, self-employment tax (which covers Social Security and Medicare taxes), and potentially corporate income tax, depending on the corporate structure. If the corporation is a C corporation, it would pay its own corporate income tax, whereas if it's an S corporation or LLC taxed as a disregarded entity, income and losses are passed through to the owner's personal tax return.
People with high collectivism:
a. accept unequal distribution of power.
b. also have low individualism.
c. value harmonious relationships in the groups to which they belong.
d. value thrift, savings, and persistence.
e. appreciate the unique qualities that distinguish themselves from others
Answer:
The correct answer is letter "C": value harmonious relationships in the groups to which they belong.
Explanation:
Collectivism is the idea of sharing before reserving certain goods to individuals. People and communities with this point of view tend to promote a cooperative environment where the main objective is the satisfaction of all the members of the societies.
1. Organize around outcomes, not tasks. 2. Identify all the organization’s processes and prioritize them in order of redesign urgency. 3. Integrate information processing work into the real work that produces the information.4. Treat geographically dispersed resources as though they were centralized.5. Link parallel activities in the workflow instead of just integrating their results.6. Put the decision point where the work is performed, and build control into the process.7. Capture information once and at the source.This is
Answer:
Business Process Re-engineering
Explanation:
This involves redesign business processes in such a manner that repetition is avoided and wastes as well as its costs are avoided.
By re-engineering business processes,organizations can identify those activities that are value adding and prioritize,while those that do not add value are eliminated.
The income statement for Nadeen, Inc. shows income before income taxes $700,000, income tax expense $210,000 and net income $490,000. If Nadeen has 100,000 shares of common stock outstanding throughout the year, earning per share is:
A $7.00
B $4.90
C $2.10
D None
Answer:
B $4.90
Explanation:
The earnings per share ratio (EPS), is an entities net income after tax that is available the shareholders divided by the weighted average number of shares of common stock that are outstanding during the period of the earnings.
As such, given;
net income after tax = $490,000
number of shares = 100,000
EPS = net income after tax/number of shares
= $490,000/100,000
= $4.90
The welding department supplies parts to the final assembly line. Management decides to implement a kanban system and has collected the following data. The daily demand is 2000 units The production lead time is 4 days (this includes processing time, transport time, and waiting time) Management has decio One container fits 400 units
How many kanban containers will be needed to support this system? _____ containers
Answer:
25 kanban containers
Explanation:
Given that,
Daily demand = 2,000 units
Production lead time = 4 days
Container size = 400 units
Lead time demand:
= Daily demand × Production lead time
= 2,000 units × 4 days
= 8,000 units
Safety Stock:
= Number of days × Daily demand
= 1 day × 2,000 units per day
= 2,000 units
Number of Kanban containers needed:
= (Lead time demand + Safety Stock) ÷ Container size
= (8,000 + 2,000) ÷ 400
= 10,000 ÷ 400
= 25
To support the Kanban system in the welding department, 20 Kanban containers will be needed, based on the daily demand, production lead time, and container capacity.
To calculate the number of Kanban containers needed in the welding department to support the Kanban system, we can use the following formula:
(Daily demand) * (Production lead time in days) / (Container capacity)
Using the data provided:
Daily demand = 2000 units
Production lead time = 4 days
One container fits = 400 units
Now, let's plug in the values:
(2000 units per day) * (4 days) / (400 units per container) = 20 containers
Therefore, 20 Kanban containers will be needed to support this system efficiently.
eptune Accounting Services expects its accountants to work for 24 comma 000 direct labor hours per year. The company's estimated total indirect costs are $ 222 comma 000. The direct labor rate is $ 75 per hour. The company uses direct labor hours as the allocation base for indirect costs. If Neptune performs a job requiring 30 hours of direct labor, what is the total job cost? (Round any intermediate calculations to the nearest cent, and your final answer to the nearest dollar.)
Answer:
$2,527.5
Explanation:
Indirect labor hours:
= Estimated total indirect costs ÷ Direct labor hours per year
= $222,000 ÷ 24,000
= $9.25
Total job cost:
= Direct labor cost + Indirect labor cost
= (direct labor rate per hour × Number of direct labor hours) + (Number of direct labor hours × Indirect labor rate per hour)
= ($75 × 30) + (30 × $9.25)
= $2,250 + $277.5
= $2,527.5
When Andy Forsummer, the owner of Barcelona Restaurants Group, rejects management philosophies that stress employee social relations and employee happiness, he is refuting ideas championed bya.the human relations approach to management.b.the systems approach to management.c.Henri Fayol's administrative management.d.Max Weber's bureaucratic management.
Answer:
The correct answer is letter "C": Henri Fayol's administrative management.
Explanation:
Turkish economist Henri Fayol (1841-1925) is considered the father of modern management. Fayol summarized his ideas on corporate management in 14 principles in which he emphasizes organizational hierarchy, fair and kind employee treats, and corporate spirit.
The conservatism constraint prescribes that:
a) A company use the same accounting methods period after period.
b) All items of a material nature are included in financial statements.
c) All inventory items are reported at full cost.
d) Revenues and expenses are reported in the period in which they are earned or incurred.
e) When multiple estimates of amounts to be received or paid in the future are equally likely, then the least optimistic amount should be used.
Option E
The conservatism constraint prescribes that: When multiple estimates of amounts to be received or paid in the future are equally likely, then the least optimistic amount should be used.
Explanation:Conservatism constraint designates the aid of the less optimistic amount when more extra than unity assessment of the amount to be collected or repaid endures and these assessments are thereby uniformly likely.
The conservatism constraint suggests that, all annexes equal, we require to choose the postulate that is more moderate for assets and more leading for liabilities, these hypotheses forming the company resemble worse or most traditional. Conservatism constraint restricts the opportunity of economic statements being proffered that are emphasized, an overstatement that investors could perform on.
The conservatism constraint prescribes that a company use the same accounting methods period after period to provide consistent and reliable information in financial statements.
Explanation:The conservatism constraint in accounting prescribes that a company use the same accounting methods period after period. This means that a company should be consistent in its treatment of accounting transactions and follow the same principles and rules over time.
For example, if a company chooses to use the FIFO method to value its inventory, it should continue using the same method in subsequent periods.
The aim of the conservatism constraint is to ensure that financial statements reflect a more cautious and conservative estimate of the company's financial position and performance.
By using the same accounting methods, a company provides users of financial statements with consistent and reliable information to make informed decisions.
Indicate whether the following items are capitalized or expensed in the current year. a. Purchase cost of a patent from a competitor. b. Research and development costs. c. Organizational costs. d. Costs incurred internally to create goodwill.
Answer:
The correct answers are:
A) Purchase cost of a patent from a competitor. (Capitalized)
B) Research and development costs. (Expensed)
C) Organizational costs. (Expensed)
D) Costs incurred internally to create goodwill. (Expensed)
Explanation:
Basically, for accounting purposes, the difference between capitalization and expenditure relies on the period the assets will be used. When assets are acquired to be used more than in a single period, they are capitalized. When those assets are purchased to be used within part of the current period, they are expensed. Thus:
A) Purchase cost of a patent from a competitor. (Capitalized)
B) Research and development costs. (Expensed)
C) Organizational costs. (Expensed)
D) Costs incurred internally to create goodwill. (Expensed)
Suppose the current issue of The New York Times reports an outbreak of mad cow disease in Nebraska, as well as the discovery of a new breed of chicken that gains more weight than existing breeds that consume the same amount of food. How will these developments affect the equilibrium price and quantity of chickens sold in the United States?
Answer:
Price and quantity of chickens sold will increase.
Explanation:
Due to the prevalence of the mad cow disease, demand for cow meat will go down. Since chicken is a substitute for cow meat and there is a breed that grows twice as much with the same feeds, the demand for chicken will rise.
In economics when other factors apart from price changes it results in demand shift. In this instance demand will shift to the right.
As illustrated in the attached diagram, there will be higher quantity demanded at higher prices than before.
You wish to retire in 20 years, at which time you want to have accumulated enough money to receive an annual annuity of $24,000 for 25 years after retirement. During the period before retirement you can earn 10 percent annually, while after retirement you can earn 12 percent on your money. What annual contributions to the retirement fund will allow you to receive the $24,000 annuity? Use Appendix C and Appendix D for an approximate answer, but calculate your final answer using the formula and financial calculator methods. (Do not round intermediate calculations. Round your final answer to 2 decimal places.
Answer:
$3,286.52
Explanation:
PVA= A×({1 −[1 / (1 + i)n]} / i)= $24,000 ×({1 −[1 / (1.12)25]} / .12)
= $188,235.34
FVA= A×{[(1 + i)n−1] / i}A=
FVA/ {[(1 + i)n−1] / i}= $188,235.34 / {[(1.10)20−1] / .10}= $3,286.52
To determine the annual deposit into an account earning 10 percent that is necessary to accumulate$188,235.34 after 20 years, solve for the annuity:
N= 20
I/Y=10
PV=0
PMT=CPT PMT -3286.52
FV=188 235.34
Answer: $3,286.52
Of all the companies on the New York Stock Exchange, profits are normally distributed with a mean of $6.54 million and a standard deviation of $10.45 million. In a random sample of 73 companies from the NYSE, what is the probability that the mean profit for the sample was between 3.0 million and 6.0 million?
Answer:
[tex]P(3.0<\bar X<6.0)= P(-2.894< Z< -0.442) = P(Z<-0.442) -P(Z<-2.894) = 0.329 -0.0019=0.327[/tex]
Explanation:
Previous concepts
Normal distribution, is a "probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean".
The Z-score is "a numerical measurement used in statistics of a value's relationship to the mean (average) of a group of values, measured in terms of standard deviations from the mean".
Solution to the problem
Let X the random variable that represent the profits of a population, and for this case we know the distribution for X is given by:
[tex]X \sim N(6.54,10.45)[/tex]
Where [tex]\mu=6.54[/tex] and [tex]\sigma=10.45[/tex]
We are interested on this probability :
[tex]P(3.0<\bar X<6.0)[/tex]
And the best way to solve this problem is using the normal standard distribution and the z score given by:
[tex]z=\frac{x-\mu}{\frac{\sigma}{\sqrt{n}}}[/tex]
And we can find the z score for the two limits 3.0 and 6.0 and we got:
[tex] z_1 = \frac{3-6.54}{\frac{10.45}{\sqrt{73}}} = -2.894[/tex]
[tex] z_2 = \frac{6- 6.54}{\frac{10.45}{\sqrt{73}}} =-0.442 [/tex]
So then we can calculate the probability on this way:
[tex]P(3.0<\bar X<6.0)= P(-2.894< Z< -0.442) = P(Z<-0.442) -P(Z<-2.894)[/tex]
And we can use the normal standard distribution or excel to calculate the probabilities and we got:
[tex]P(3.0<\bar X<6.0)= P(-2.894< Z< -0.442) = P(Z<-0.442) -P(Z<-2.894) = 0.329 -0.0019=0.327[/tex]