Answer:
The above statement is FALSE
Brock Corp. reports operating expenses in two categories: (1) selling and (2) general and administrative. The adjusted trial balance at December 31, 20 x 5 included the following expense and loss accounts: Accounting and legal fees $120,000, Advertising 150,000, Freight-out 80,000, Interest 70,000, Loss on the sale of long-term investments 30,000, Officers' salaries 225,000, Rent for office space 220,000, Sales salaries and commissions 140,000. One-half of the rented premises is occupied by the sales department. Brock's total selling expenses for 20 x 5 are:________.
A. $480,000
B. $400,000
C. $370,000
D. $360,000
Answer:
correct answer is A. $480,000
Explanation:
given data
Accounting and legal fees = $120,000
Advertising = 150,000
Freight-out = 80,000
Interest = 70,000
Loss on the sale of long-term investments = 30,000
Officers' salaries = 225,000
Rent for office space = 220,000
Sales salaries and commissions = 140,000
solution
as here Rent for office space is
Rent for office space = $220,000 × 0.50
here 0.5 the rent is include in sell expense because sales department occupy only 0.5 premises
Rent for office space = $110,000
we get here total selling expenses that is
total selling expenses = Advertising + Freight-out + Rent for office space + Sales salaries and commissions
total selling expenses = $150,000 + 80,000 + 110,000 + 140,000
total selling expenses = $480,000
so correct answer is A. $480,000
Brock Corp.'s total selling expenses for the year 20 x 5 amount to $480,000, which includes advertising, freight-out, sales salaries and commissions, and half of the rent for office space occupied by the sales department.
Explanation:The question concerns the calculation of Brock Corp.'s total selling expenses for the year 20 x 5. To find the total selling expenses, we need to add all the expenses related to selling activities. This includes Advertising, Freight-out, Sales salaries and commissions, and half of the Rent for office space as half of it is occupied by the sales department.
Advertising: $150,000Freight-out: $80,000Sales salaries and commissions: $140,000Rent for office space (1/2 occupied by sales): $220,000 / 2 = $110,000Adding these amounts, we get:
$150,000 (Advertising) + $80,000 (Freight-out) + $140,000 (Sales salaries and commissions) + $110,000 (Half Rent for office space) = $480,000.
Therefore, the total selling expenses for Brock Corp. for the year 20 x 5 are $480,000, which corresponds to option A.
Which of the following statements is most correct? A. KSFs are often necessary, but not sufficient for competitive advantage.B. KSFs are neither necessary nor sufficient for competitive advantage. C. KSFs are often sufficient, but not necessary for competitive advantage. D. KSFs are both necessary and sufficient for competitive advantage. E. None of these statements are correct.
Answer:
A. KSFs are often necessary, but not sufficient for competitive advantage.
Explanation:
KSF
Key Success Factors (KSFs) represent business functions, practices or business activities as defined or seen by the customers or the market as being important or crucial to the development of consumer/business relationship.
KSFs represent areas organisations are to attend to based on the views of the market in order to achieve their goals. It could be in form strengths to maximize, weaknesses to address, aspects to take advantage of among others.
It becomes obvious that although important (from the view of the market or consumers who patronize the business), a business must makes its own due diligence in form of SWOT analysis among others to have the required competitive advantage.
The most accurate statement is 'A. KSFs are often necessary, but not sufficient for competitive advantage'. While Key Success Factors (KSFs) are vital for a company, they alone cannot guarantee a competitive advantage.
Explanation:The most correct statement is A. KSFs are often necessary, but not sufficient for competitive advantage. KSFs, or Key Success Factors, are elements that are vital for a company to achieve its goals and remain competitive in its market. However, simply having these elements is not enough to guarantee a competitive advantage. In addition to KSFs, a company must also utilize effective strategies and make accurate decisions in various areas such as product development, marketing, and customer service to achieve a competitive advantage.
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Jasmine is the director of marketing for a chain of clothing stores. She's been given a set budget and needs to drive as many potential customers to her website as possible. What automated bidding strategy should she use in her campaign?
Answer:
Strategy she should use is "Maximize Clicks"
Explanation:
Jasmine should use Maximize clicks automated bidding strategy as to drive her clients to her website so that maximum people can visit her website in a set budget and choose her clothing products.
The Smiths are purchasing a completely furnished cottage on a lake. They have obtained a deed of trust loan to cover the price of the property, including all furnishings and appliances. This type of financing is called a(n) ________.
Answer: Package deed of trust
Explanation:
According to the question, the smiths are basically purchasing the various types of appliances and also furnishing material that is obtained from a loan a deed of trust so that they can easily cover the property price.
In this type of financing a real transaction we can obtain in the form of loan from the third party such as from borrowers and banks.
We uses the mortgage in the for of package deed of trust for purchasing the various types of products and items.
Therefore, Package deed of trust is the correct answer.
Final answer:
A deed of trust loan is financing obtained by the Smiths that includes the property as collateral, similar to a mortgage. The property is held by a trustee until the loan is repaid, and if defaulted, the property can be sold to satisfy the debt.
Explanation:
The Smiths are purchasing a fully equipped cottage that includes all furnishings and appliances, and for this, they have procured what is known as a deed of trust loan. This financing arranges for the property to be held as collateral by a trustee until the loan is paid back in full. The concept is akin to that of a mortgage, which is another type of loan that allows a borrower to buy a house or other real estate with the borrowed funds, with the property serving as collateral. If the borrower fails to repay the loan as agreed, the lender can initiate a foreclosure process to recoup the investment.
Just like with a bank loan for a firm where the business must repay the borrowed amount plus interest over a set period, a deed of trust works similarly for individual real estate transactions. Should the Smiths default on the loan, the trustee has the power to sell the property to satisfy the debt. This offers protection to the lender and defines the terms under which the Smiths are borrowing the funds to purchase their new property.
Arlene makes earrings in the shape of the mascot of a local university. Last year Arlene made 250 pairs of earrings, which she sold to the university bookstore for $10 each. Arlene works out of her home, so her only cost is $3 per pair for materials and $85 for tax help. If Arlene didn't produce earrings, she would spend her time babysitting her nephews and make about $500 per year. a. Arlene's economic profit is $1,665. b. Arlene's accounting profit is $1,165 c. Arlene's total costs are $835. d. Arlene's total revenue is $2500.
Answer:
d. Arlene's total revenue is $2500.
Explanation:
Given that
Number of earrings pair = 250
Sale value each = $10
Material cost per pair = $3
For tax help =$85
Per year produce value = $500
By considering the above information
The total revenue would be
= Number of earrings pair × sale value each
= 250 pairs × $10
= $2,500
Hence the total revenue is $2,500
Only d option is a true statement rest options are wrong.
A manager will essentially require ________ skills to test ideas clearly on a small scale, before taking bigger risks or committing significant resources to a larger project.
a) collaboration
b) experimentation
c) interpersonal
d) systems thinking
e) social
Answer:
d) systems thinking
Explanation:
in starting a business. a organization should start the business with small scale production to know how consumer react to the product and the necessary improvement that needed to be develop from the feedback gotten from the consumer.
the significant of starting a business with system thinking is numerous which includes: exploring boundaries, understanding the target market response, make improvement to develop a better product, e.t.c
A manager requires experimentation skills to test ideas on a small scale before committing to larger projects. These skills allow for risk management and informed decision-making. Good communication, critical, and strategic thinking also contribute to effective management.
Explanation:A manager will essentially require experimentation skills to test ideas clearly on a small scale, before taking bigger risks or committing significant resources to a larger project. These skills include forming hypotheses, conducting small-scale experiments, and analyzing results to inform larger decisions. Experimentation allows for iterative testing and validation of concepts, minimizing risk and streamlining resource allocation.
Building a productive and collaborative team involves aligning members' ideas toward sustainability and requires good communication and negotiation skills. To prevent and manage disputes, a manager must use their interpersonal skills daily, practicing transparency and restraint. In addition, understanding social systems and the ability to collect and analyze statistical information are crucial for assessing the impact of projects.
Moreover, critical thinking enhances strategic thinking, which improves decision-making and problem-solving abilities, preparing one to cope with change and foster continuous improvement. This combination of skills and approaches forms a foundation for executing effective and efficient management strategies.
Three business partners owned 100% of a certain company. When they sold the company, one partner received exactly 5/8 of the proceeds of the sale and the other partners shared the remainder of the proceeds. How much money did the partner who received the smallest amount of the proceeds receive from the sale? A) The partner who received the smallest amount from the sale received exactly 1/5 the amount received by the partner who received the second largest amount. B) The partner who received the second largest amount from the sale received half of the two million dollars received by the partner who received the largest amount.
Answer:
The partner that received the largest amount got $2 million, the partner that received the second largest amount got $1 million, and the partner that received the lowest amount got $200,000
Explanation:
The partner that received the highest amount (I will call him A), got 5/8 of the proceeds.
The remaining 3/8 were divided in 1/6 for the partner that received the smallest amount (I will call him C) and 5/6 for the partner that received the second largest amount (I will call him B).
A got 5/8 or 10/16B got 5/6 x 3/8 = 5/16C got 1/6 x 3/8 = 1/16A got $2 million
B got $1 million
C got $200,000
"Evaluations of financial information made through the study of plausible relationships among both financial and non-financial data are referred to as__________.
Answer: Analytical procedure
Explanation:
The analytical procedure is the process of the financial audit that basically helps in understanding the main objective of the client in the business.
It is one of the type of evidence gathering process for the auditors and helps in evaluating all the financial related data by analyzing both the non-financial or the financial information.
According to the given question, the analytical procedure is the evaluation of all the financial related data and also study of the plausible relationship in the system.
Therefore, Analytical procedure is the correct answer.
plz help ASAP!!!!!
WILL MARK BRAILLRSIT
Answer:
for old fashioned: pros- it is official and original and cons- the tax papers can be lost and theft easilyfor tax preparation software- pros- it is convenient and time efficient to prepare tax papers in a software, cons- it may get deleted, or plagiarized. Also, one can easily steal the information thorugh hacking.for professional tax preparers : pros- they can neatly and easily prepare the papers, cons- they might be corrupted staff and can alter the numbersHope this answer helped...
Adapting to new conditions like new innovations by competitors, fast-changing technological developments, and constantly evaluating what is working result in A. an assured profitability strategy.B. a broad market entry strategy.
C.an emergent strategy.D. unlimited revenue generation.E. a proactive strategy.
Answer: The correct answer is "C.an emergent strategy.".
Explanation: Adapting to new conditions like new innovations by competitors, fast-changing technological developments, and constantly evaluating what is working result in an emergent strategy.
Although not intentional, adopting an emerging strategy can help a company adapt more flexibly to the practical aspects of changing market conditions.
With this strategy a destination or a planning point is not assumed. On the contrary, the approach is that the strategy will emerge and develop as the organization advances.
The strategy arises as more is discovered about the environment and the views on the world, the needs of the clients, proposals and intentions are evaluated. It is a process of learning and adaptation.
If demand is inelastic, then: a. buyers do not alter their quantities demanded much in response to advertising, fads, or general changes in tastes. b. the demand curve is very flat. c. buyers respond substantially to a change in price, but the response is very slow. d. buyers do not respond much to a change in price.
Answer:
d. buyers do not respond much to a change in price.
Explanation:
Inelastic demand means a stable demand. The phrase elasticity of demand is used to describe how responsive the demand for a service or a product is to changes in prices. Elastic demand means that the demand has stretching attributes. Changes in price will lead to a decrease or an increase in the quantity demand.
Inelastic demand means that changes in price do not have a significant impact on the quantity demanded. Essential goods and services that are necessary for survival, such as food and water, will have inelastic demand. Other items considered crucial such as fuel, oil, and gas will also have inelastic demand. People will have to consume them. A small change in price will not have an impact on demand.
he table gives the demand and supply schedules for boat rides. If the demand of boat rides increases by 40 rides a day, the price will ________.
Answer:The price will also increase
Explanation:According to the law of demand and supply, demand has a positive relationship with price, which means the higher the demand, the higher the price of the same commodity
As You Like It Inc. customizes its offers to each individual consumer. This practice of tailoring products and marketing programs to suit the tastes of specific individuals and locations is referred to as ________ marketing.a. nicheb. massc. differentiatedd. undifferentiatede. micro
Answer:
Micro marketing
Explanation:
The act of tailoring stuff for each individual customer is called micro marketing. It is designed to satisfy a small section.
If the product were not tailor made (same for all) yet targeted to a very selected section of the market, it would have been niche marketing.
The aspect of 'tailoring' products for the individuals is what differentiates between niche and micro marketing.
In early America, a traditional market structure existed when A) merchants purchased goods from England. B) farmers sold produce in markets in towns. C) people bartered goods they produced for goods they needed. Eliminate D) people set up guilds to regulate specific industries, like mason
In early America, a traditional market structure existed when people bartered goods they produced for goods they needed.
Explanation:
Bartering is the mechanism between two entities without the use of cash in the exchange of trading products or services. When people trade, they are all benefited by receiving goods or services that they need or want.
Bartering does have a benefit as there is something that even people with no money could get for them. Bartering may include exchanging an object for a service.
For eg, in return for a tin of apples from either a tree in their yards you might agree to work for somebody. If you choose to trade for a need, you can save cash for other requirements.
the answer is "c"..................................................................................................................
Consider the following bond quote: a municipal bond quoted at 101.25. If the municipal bond has a par value of $5,000, what is the price of the bond in dollars?
Answer:
= $5,062.5
Explanation:
A municipal bond represents a security usually of debt used primarily for capital expenditure financing by the government of a municipality, a state or a county. Such capital expenditure includes building infrastructures such as roads, schools, hospitals, bridges among several others.
Municipal bonds are usually exempted from taxes; federal taxes and even in quite a number of states both the state and the local taxes. This is done to motivate the people to purchase the bonds.
To calculate the price of the bond in dollars, the step is to
Multiply the Municipal bond quote (in percentage) by the Municipal bond par value
= Municipal bond quote = 101.25%
Municipal bond par value= $5,000
= 101.25% x $5000
= $5,062.5
Final answer:
The price of a municipal bond quoted at 101.25 with a par value of $5,000 is $5,062.50. If the bond's interest is less than the market interest rate, it would be priced less than its face value to remain competitive.
Explanation:
To calculate the price of a municipal bond quoted at 101.25 with a par value of $5,000, you would multiply the par value by the quoted percentage price. A quote of 101.25 means that the bond is selling for 101.25% of its par value. So the calculation is:
Price of bond = Par value × (Quoted price / 100)
Price of bond = $5,000 × (101.25 / 100)
Price of bond = $5,000 × 1.0125
Price of bond = $5,062.50
Therefore, the price of the municipal bond in dollars is $5,062.50.
When considering bond prices and interest rates, if the bond's interest rate is less than the market interest rate, you would generally expect to pay less than the par value for the bond. Using the provided example, if a bond's expected payments are $1,080 and the market interest rate is 12%, an alternative investment would need a present value of $964 to match that future value. This results in the bond being priced at or below $964 since it must be competitive with the market.
Suppose Oliver's marginal utilities from an ice cream cone and a box of chocolate cookies are valued at $6 and $10, respectively. The marginal costs of an ice cream cone and a box of chocolate cookies are $5 and $10, respectively. According to marginal analysis, Oliver should:
Answer:
Purchase the Ice Cream Cone for a net addition to marginal utility of $1
Explanation:
Marginal Utility is explained as the level of satisfaction that is added when a consumer consumes an additional unit of a product or patronizes a service. It determines the number of items an individual is willing to purchase based on his additional satisfaction from every extra item.
If the additional item leads to an increase in total utility then it is called positive marginal utility and when it decreases total utility then it is called negative marginal utility.
Oliver based on marginal analysis should purchase the Ice Cream Cone for the difference in value of $5 to 6$, that is the net additional marginal utility of $1, but should not purchase the box of chocolate because the marginal utility does not change it remains $10
Which of the following statements is CORRECT?a. The term "IPO" stands for Introductory Price Offered, and it is the price at which shares of a new company are offered to the public.b. IPO prices are generally established by the market, and buyers of the new stock must pay the price that prevails at the close of trading on the day the stock is offered to the public.c. In a "Dutch auction," investors who want to buy shares in an IPO submit bids indicating how many shares they want to buy and the price they are willing to pay. The company determines how many shares it wants to sell. The highest price that enables the company to sell the desired number of shares is the price that all buyers must pay.d. It is possible that the price set in an IPO is so high that investors will refuse to buy the number of shares that the company wants to sell. In this situation, the IPO is said to be oversubscribed.e. It is possible that the price set in an IPO is so low that investors will want to buy more shares than the company wants to sell. In that case, the company will have to issue more shares than it wants to sell.
Answer:
C
Explanation:
a is incorrect because IPO stands for "Initial Public Offering"
b is incorrect. Generally, yes, prices are set by market (supply and demand). However, buyers do not pay the price as described in this option
c is correct
Statement (c) regarding Dutch auctions in IPOs is correct. An IPO allows a company to raise capital for repayment and expansion, with no further funding from the secondary market where previously issued shares are traded. Oversubscription implies high demand, not an overpriced IPO.
The correct statement regarding Initial Public Offerings (IPOs) is (c) In a "Dutch auction," investors who want to buy shares in an IPO submit bids indicating how many shares they want to buy and the price they are willing to pay. The company then determines how many shares it wants to sell, and the highest price at which the company can sell the desired number of shares becomes the price that all buyers must pay. This method can help in price discovery, allowing for a more market-driven approach to determining the stock price. A Dutch auction is, however, just one method of conducting an IPO, and other methods might involve setting an IPO price through underwriters' assessments or negotiations with institutional investors.
An IPO represents a company's first sale of stock to the public, providing the company with funds to repay early-stage investors and to expand operations substantially. It is critical to note that a company does not receive any money from stock trading in the secondary market, which is where shares are traded after the initial offering. An IPO can be oversubscribed, which occurs when the demand for shares exceeds the supply, but this does not mean the IPO price is too high. Conversely, if the demand is low and investors are reluctant to buy the offered shares, it does not automatically mean the IPO is too high priced; it might indicate a lack of investor confidence or interest.
The component of communication that enables a sender of a message to know that the message was received is called _____.
Answer: Feedback
Explanation: Feedback could be termed as 'response'. It signals the receipt of information between communicating systems. Feedback is an important part of communication, it enables the sender to affirm receipt of information by the receiver. Feedbacks forms a loop between communicating systems where the systems adjusts on information or products in the medium. Feedbacks could be in form of body movement in terms of face-to-face communication, messages and other methods of acknowledging receipt of information.
A written pledge by a lender to lend a certain amount of money to a qualified borrower on a particular piece of real estate for a specified time under specific terms is a:_____________
Answer:
The correct answer is a LOAN COMMITMENT
Explanation: A loan commitment is a commitment by a lender of an amount that he will loan to a qualified borrower on a specific piece of real estate for a specified period of time under certain conditions.
This commitment may be conditional, qualified or firm and contains details of the borrower.
The value of Maggie's car decreased by 15% since last year, when she bought it. If the car is now worth $21,000.00, how much was the car worth when she bought it?
Answer:
car worth when she bought it is $24705.88
Explanation:
given data
value of car decreased = 15%
car now worth = $21,000.00
solution
we consider here car worth when she bought it = x
value of car decreased 15 % it mean
(100 - 15% ) price 85% = $21,000.00 ........1
when car price 100% = x ...............2
so from equation 1 and 2 we get
x × 85 = 100 × $21,000.00
solve it we get
x = 24705.88
so car worth when she bought it is $24705.88
Klingon Widgets, Inc., purchased new cloaking machinery three years ago for $6 million. The machinery can be sold to the Romulans today for $5.1 million. Klingon’s current balance sheet shows net fixed assets of $3.4 million, current liabilities of $895,000, and net working capital of $235,000. If the current assets and current liabilities were liquidated today, the company would receive a total of $1.15 million cash.
A. What is the book value of Klingon’s total assets today?
B. What is the sum of the market value of NWC and the market value of fixed assets?
Answer:
A. Book Value of Klingon’s Total Assets= Net Fixed Assets +Current assets = $3,400,000 + $1,130,000
=$4,530,000
B. What is the sum of the market value of NWC and the market value of fixed assets
i. Market Value of NWC = $5.1 million
ii. the market value of fixed assets =$5.1 million
Explanation:
Net working capital= Current assets minus current liabilities.
$235,000 =Current assets-$895,000
Current assets=$235,000 +$895,000= $1,130,000
Market value of new cloaking machinery(NWC) is equal to the market value of fixed assets. This is because the market values of other fixed assets is assume to be zero.
Book value of assets can be said as the value of the assets of the firm in the books of accounts. The total book value can be obtained by adding all the assets like fixed assets and current assets.
(a) The book value of Klingon Widgets Inc. can be calculated as follows:
Calculations[tex]\begin{aligned}\rm \: Total \:Assets&=\rm Net\: Fixed \: Assets+ Net\:Current\:Assets\\\rm Total \:Assets&= \$3,400,000+ \$1,130,000\\\rm \:Total \:Assets&= \$4,530,000 \end[/tex]
(b) Net Working Capital is the difference obtained by deducting current liabilities from current assets.
Net working capital is given as $235,000 in the question and fixed assets are assumed as zero. So the Sum of NWC and Fixed assets is also the same as NWC.
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Prospective payment methods of reimbursement (excluding capitation) always create an incentive for providers to reduce the volume of services provided.
Answer:
FALSE .
Explanation:
Prospective payment mechanisms beyond capitation don't provide an opportunity for companies to reduce the level of services provided.
A Prospective Payment System is a compensation system by which Medicare awards are made on the basis of a defined, set amount.The payment rate for a particular service is calculated on the basis of that service's grading system.Therefore, The following statement is false.
Kin based societies, headed by hereditary leaders or priests with the powers such as ceremonial and labor organization, land use supervision, and resource distribution are known as:____________.
Answer:
Chiefdoms
Explanation:
Kin based societies, headed by hereditary leaders or priests with the powers such as ceremonial and labor organization, land use supervision, and resource distribution are known as Chiefdoms
Chiefdoms are forms of hereditary political organization that is usually based on kinship, in which power is left in the hands of the most senior members of the royal family or selected ruling families. They also exercise economic powers of resource distribution.
Hot and Cold Corp. makes disposable coffee and soft drink cups for use in fast-food restaurants, hospitals, convenience stores, and the like. The company is working on a sturdy new product that will biodegrade within five years of being put in a landfill. According to the BCG matrix, this promising new product line would most likely be classified as a _____.
Answer:
Star in BCG matrix
Explanation:
BCG matrix is a system that helps the organization to decide on product sales, investment, etc. In BCG matrix, the product is divided into four types: dog, cash cows, stars and question marks.
stars - it is the type of product that makes high market share and growth. These produced large income but also require high investment
Hot and Cold Corp.'s new biodegradable cup line would likely be classified as a Question Mark in the BCG matrix, indicating a product with low market share in a high-growth market, requiring significant investment for growth.
According to the BCG (Boston Consulting Group) matrix, Hot and Cold Corp.'s new product line of disposable cups that biodegrade within five years of being placed in a landfill would most likely be classified as a Question Mark. The BCG matrix is a strategic tool used for portfolio analysis, categorizing business units or products into four quadrants based on their market growth rate and relative market share: Stars, Cash Cows, Question Marks, and Dogs.
A Question Mark represents a business or product with low market share but in a high-growth market. These products require significant investment to increase their market share but have potential for growth and possibly becoming Stars. Given the increasing pressure and demand for eco-friendly packaging solutions in the fast-food and beverage industry, this new line of biodegradable cups represents a high-growth opportunity but will initially have a small share in a competitive market as it seeks to establish itself.
The organization structure at Kinetic Machines is horizontally divided into Marketing, Finance, Production, and R&D departments. Identify the departmentalization mode being used here. a) product.
b) geographic.
c) functional.
d) customer.
e) matrix.
Answer:
e. Matrix mode of Departmentalization
Explanation:
The matrix mode of departmentalization seeks to bring a combination the best features of both the task force (product or project) as well as the functional departmentalization modes with the aim of improving the cooperation among several components that are required for a particular activity in the organisation.
The aim is to organize the departments in the organisation based on a particular project or product line as well as around functional lines. This ensures that the advantages of the two modes can be combined.
The matrix departmentalization mode puts each department on the same line as described in the question and since no department has an hierarchy over the other but are horizontally lined, it is expected that they can work better with one another. However, due to the lack of a clear hierarchical system of chain of order there could be uncertainty when defining the reporting chain.
The departmentalization mode being used at Kinetic Machines is functional, which groups employees based on their areas of expertise or job functions.
Explanation:The departmentalization mode being used at Kinetic Machines is functional. Functional departmentalization groups employees based on their areas of expertise or job functions. In this case, the departments at Kinetic Machines are divided based on the specific functions they perform: Marketing, Finance, Production, and R&D.
Ending assets for CompuHelp equals $650,000, and the beginning retained earnings was $325,000. If net income during the period was $225,000 and the cash dividends paid total $150,000, what is the ending liabilities (assume common stock is zero)?Ending liabilities will be $250,000
Answer:
It is $250,000
Explanation:
Ending retained earning = Retained earnings at the beginning+Income during the period-dividends paid
= $325,000+$225,000-$150,000
= $400,000
Ending liabilities = Total Assets- Ending retained earnings
= $650,000-$400,000
=$250,000
Using Accounting equation, All Assets= Total equity and liabilities
Assume you are given the following relationships for the Haslam Corporation: Sales/total assets - 1.9 Return on assets (ROA) - 4% Return on equity (ROE) - 6%Calculate Haslam's profit margin and liabilities-to-assets ratio. Suppose half its liabilities are in the form of debt. Calculate the debt-to-assets ratio.
Answer:
Profit margin = 2.11%
Haslam's liabilities-to-assets ratio = 33.33%
Debt-to-assets ratio = 16.50%
Explanation:
Calculate Haslam's profit margin. /total assets)
Profit margin = 4%/1.9
Profit margin = 2.11%
Calculate Haslam's liabilities-to-assets ratio.
Haslam's liabilities-to-assets ratio = 1- ROA/ROE
Haslam's liabilities-to-assets ratio = 1- 4/6
Haslam's liabilities-to-assets ratio = 33.33%
Suppose half of Haslam's liabilities are in the form of debt.
Debt-to-assets ratio = Haslam's liabilities-to-assets ratio = 0.33
Debt-to-assets ratio = 50%*0.33
Debt-to-assets ratio = 16.50%
Haslam's profit margin is 2.11% and the liabilities-to-assets ratio is 33.33%. Finally, his Debt-to-assets ratio is 16.50%
What is the calculation for profit margin?[tex]Profit margin = \frac{ROA}{total assets} \\=\frac{0.04}{1.9} * 100\\=2.11[/tex]
What is the calculation for the liabilities-to-assets ratio?[tex]1- \frac{ROA}{ROE} \\1-\frac{0.04}{6} \\=33.33[/tex]
What is the calculation for the debt-to-assets ratio?[tex]0.5*0.33\\=0.1665*100\\=16.5[/tex]
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Economic models are:
A. simplified versions of reality designed to analyze "what is" to explain human decision making in any context.
B. simplified versions of reality designed to analyze "what ought to be" to help the government improve outcomes.
C. simplified versions of reality designed to analyze "what is" to explain human decision making in a business context.
D. complex mathematical formulas designed to forecast future economic events such as inflation.
E. complex mathematical formulas designed to identify optimal market outcomes and guide policymakers.
Final answer:
Economic models are simplified tools that economists use to analyze and explain human decision making, specifically focusing on 'what is' in various contexts, rather than 'what ought to be' or predicting future events.
Explanation:
Economic models are simplified representations of reality that economists use to explain human behavior and decision making in various contexts. They serve as tools for analyzing "what is" rather than "what ought to be". These models usually involve the use of theories which, unlike mathematical formulas predicting future events, are fundamental in understanding and predicting economic outcomes.
For instance, the model of supply and demand curves exemplifies the concept of market equilibrium, demonstrating how prices tend to stabilize in the market place. This shows how economic models are vital in explaining economic phenomena and assisting in economic decision making at both a microeconomic and macroeconomic level.
Economic models, therefore, are not merely complex mathematical formulas used for forecasting but are built on both simple and complex assumptions that help explain real world scenarios, helping everyone from policymakers to individuals make informed decisions.
Journalize Payroll Tax The payroll register of Longboat Co. indicates $5,400 of social security withheld and $1,350 of Medicare tax withheld on total salaries of $90,000 for the period. Earnings of $10,000 are subject to state and federal unemployment compensation taxes at the federal rate of 0.6% and the state rate of 5.4%. Provide the journal entry to record the payroll tax expense for the period. If an amount box does not require an entry, leave it blank.
Answer:
Explanation:
Dr Payroll Tax Expense $7,350
Cr Social Security Taxes Payable $5,400
Cr Medicare Taxes Payable $1,350
Cr State Unemployment Tax Payable($10,000 * 5.4%) $540
Cr Federal Unemployment Tax Payable($10,000 * 0.6%) $60
Approximately __________ of trades involving shares issued by firms listed on the New York Stock Exchange actually take place on the New York Stock Exchange.
A.50%
B.75%
C.80%
D.95%
Answer: B. 75%
Explanation: The NYSE accounts for a large majority of equity trades in the North America and worldwide. But not all trades actually do go on on the NYSE. I think this is because in 2007 they acquired Euronext which combined the NYSE with the five major European exchanges, inclusive of the Paris Bourse, Amsterdam, the London International Financial Futures etc. This merger bumped up their trading capacity to up to 10 billion shares per day. While 75% of trades do go on on the NYSE, the rest are handled by the other aspect of the merger deal, Euronext.