Answer:
The statement is: False.
Explanation:
A life estate comprehends the property that someone owns during a lifetime. The benefit of a life estate is that property will transfer without the need of the beneficiary appearing in the will after the holder is deceased. They cannot put the property on sale until the holder's decease, though. As well, holders cannot do anything at will without consulting their simple-fee owners.
The statement is false. The holder of a life estate can use and benefit from the property but must do so in a way that preserves its value for future owners.
The statement that the holder of a life estate has the right to use property for whatever purpose he or she sees fit without regard to the rights of its fee simple owner is false. A life estate grants the holder the right to use, occupy, and benefit from a property for the duration of their life. However, this right is not absolute and must be exercised with regard to the rights of the remainderman or reversioner, who holds fee simple interest. The life tenant is obligated to avoid actions that would damage the property or significantly alter its value. Therefore, while they can make use of the property, their use is constrained by the need to preserve the property's value for future owners.
The appropriate discount rate for the following cash flows is 9 percent compounded quarterly. Year Cash Flow 1 $ 815 2 990 3 0 4 1,520 What is the present value of the cash flows? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
To calculate the present value of cash flows, discount each cash flow back to the present using the appropriate discount rate of 9 percent compounded quarterly.
The present value of the cash flows can be calculated by discounting each cash flow back to the present using the appropriate discount rate of 9 percent compounded quarterly.
Using the formula for present value:
PV = CF1/(1+r)^1 + CF2/(1+r)^2 + CF4/(1+r)^4
Where PV is the present value, CF is the cash flow in each period, r is the discount rate, and the numbers refer to the respective years. Plugging in the values, we get:
PV = $815/(1+0.09/4)^1 + $990/(1+0.09/4)^2 + $1520/(1+0.09/4)^4
Solving this equation gives the present value of the cash flows.
The present value of the cash flows is approximately [tex]\$3,211.93[/tex].
To find the present value (PV) of the cash flows, we'll use the formula for the present value of a series of future cash flows:
[tex]\[ PV = \dfrac{CF_1}{(1 + r)^1} + \dfrac{CF_2}{(1 + r)^2} + \dfrac{CF_3}{(1 + r)^3} + \dfrac{CF_4}{(1 + r)^4} \][/tex]
Where:
[tex]\( CF_1 = \$815 \)[/tex]
[tex]\( CF_2 = \$990 \)[/tex]
[tex]\( CF_3 = \$0 \)[/tex]
[tex]\( CF_4 = \$1,520 \)[/tex]
[tex]\frac{0.09}{4} = 0.0225[/tex] (quarterly rate)
Substituting the values:
[tex]\[ PV = \dfrac{815}{(1 + 0.0225)^1} + \dfrac{990}{(1 + 0.0225)^2} + \dfrac{0}{(1 + 0.0225)^3} + \dfrac{1,520}{(1 + 0.0225)^4} \][/tex]
[tex]\[ PV= \dfrac{815}{1.0225} + \dfrac{990}{(1.0225)^2} + \dfrac{0}{(1.0225)^3} + \dfrac{1,520}{(1.0225)^4} \][/tex]
[tex]\[ PV = 796.12 + 963.91 + 0 + 1,451.90 \][/tex]
[tex]\[ PV = 3,211.93 \][/tex]
From the following income statement accounts in the popupwindow
a. produce the income statement for the year.
b. produce the operating cash flow for the year.
a. produce the income statement for the year.
Income Statement Accounts for the Year Ending 2014
Account
Balance
Cost of goods sold
$1,419,000
Interest expense
$288,000
Taxes
$318,000
Revenue
$2,984,000
Selling, general, and administrative expenses
$454,000
Depreciation
$258,000
Complete the income statement below. (Round to the nearestdollar.)
Income Statement
Year Ending December 31, 2014
$
$
$
$
EBIT
$
$
Taxable income
$
$
Net income
$
Answer:
Income Statement For the Year Ended 2014 $
Revenue 2,984,000
Cost of Goods Sold (1,419,000)
Gross Profit 1,565,000
Selling, general, and administrative expenses (454,000)
Earnings before Interest and Tax 1,111,000
Interest Expense (288,000)
Profit before Tax 823,000
Tax Expense (318,000)
Profit After Tax 505,000
Operating Cash Flows $
Earnings before Interest and Tax 1,111,000
Depreciation 258,000
Interest Expense (288,000)
Tax Expense (318,000)
Cash Flow from Operating Activities 763,000
Explanation:
Revenue is an income statement item which is reported at the top. Cost of Goods Sold is deducted from revenue to find out Gross Profit. After the Gross Profit is derived then we deduct Selling and Administrative cost. We can now have Earnings before Interest and Tax (EBIT). Interest Expense is deducted from the EBIT. We derived Profit before Tax. After that we deduct Tax Expense and we can have Profit After Tax.
Operating cash flows starts with Earnings before Interest and Tax. We add back Depreciation and deduct interest expense and Tax expense. Cash flow from Operating Activities is derived.
The income statement for the year ending December 31, 2014 shows revenue, costs of goods sold, selling, general, and administrative expenses, depreciation, interest expense, taxes, EBIT, taxable income, and net income.
Explanation:Income Statement for the Year Ending December 31, 2014:
Account
Balance
Revenue
$2,984,000
Cost of goods sold
$1,419,000
Selling, general, and administrative expenses
$454,000
Depreciation
$258,000
Interest expense
$288,000
Taxes
$318,000
EBIT (Earnings Before Interest and Taxes)
$307,000
Taxable income
$307,000
Net income
$189,000
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The trial balance would automatically reveal the following error: Land was purchased for cash but instead of crediting cash, the credit was made to Accounts Receivable.
a. True
b. False
Answer:
b. False
Explanation:
The trial balance shows the total debit and credit balances of individual accounts in a company's books. It shows all the balances of the assets, liabilities, income and expenses in two columns; debits and Credits.
A trial balance can only show an error where the debits and credit balances are not equal.
A credit to account receivables that should have been posted to the cash account would understate the receivables account but overstate the cash account. However, these are two assets accounts. As such, the trial balance would not detect this as the debits and credits would still be equal.
The right option is b. False
Betty's cat causes Suzy to sneeze. Betty values her cat's companionship at $300 per year. The cost to Suzy of tissues and her allergy medication is $350 per year. Based on the Coase theorem,
(A) Betty should pay Suzzy $350 for tissues and allergy medication.
(B) Suzy should pay Bety $325 to give away her cat.
(C) Betty should pay Suzy $400 so that she may keep her cat.
(D) Suzy should move.
Answer:
(B) Suzy should pay Bety $325 to give away her cat.
Explanation:
Based on the Coase theorem, Suzy should pay Bety $325 to give away her cat.
You want to buy a $300,000 home. You have $30,000 as a down payment. Therefore, buying the house will require you to take out a $270,000 mortgage. If you pay $1,262.70 per month for 30 years, how much money do you pay in interest over the course of the 30-year mortgage
Answer:
The amount of money do you pay in interest over the course of the 30-year mortgage is $184,572.
Explanation:
Total interest paid = total amount paid over 30 years - loan amount
= 1262.7*30*12 - 270000
= $184,572
Therefore, The amount of money do you pay in interest over the course of the 30-year mortgage is $184,572.
Lawrence Reed in his article "The Role of Incentive" states that the best way to curb pollution and misuse of resources is to?
Answer:
Like the title of the article states, all economy relayed choices are the results of an incentive or disincentive a potential polluter faces. He gave the example of the Lake Erie, stating that is highly reasonable (although highly unethical) it is polluted, as it is financially efficient to simply dump garbage in the lake, rather than invest in a recycling or waste management system. He also added, that since the lake is a public good, no one will look at the pollution as a serious concern, since it isn't owned by anybody.
All of this implies that a structured, incentive system has to be created in order to curb pollution.
Eagle Corp. operates Magnetic Resonance Imaging (MRI) clinics throughout the Northeast. At the end of the current period, the company reports the following amounts: Assets = $34,000; Liabilities = $19,000; Dividends = $1,400; Revenues = $10,800; Expenses = $7,400. Required: 1. Calculate net income.
Final answer:
Eagle Corp.'s net income is calculated by subtracting the expenses from the revenues. With revenues at $10,800 and expenses at $7,400, the net income comes out to be $3,400.
Explanation:
The student is asking how to calculate the net income for Eagle Corp., a company that operates MRI clinics. To find the net income, we subtract the total expenses from the total revenues. Given the revenues of $10,800 and expenses of $7,400, the net income can be calculated as follows:
Total Revenues: $10,800
Total Expenses: $7,400
Net Income: $10,800 - $7,400 = $3,400
Therefore, Eagle Corp's net income for the current period is $3,400.
Economists assume that the only reason people take the actions they do is in response to economic incentives.
A. True
B. False
Answer:
The correct answer is letter "B": False.
Explanation:
Economic incentives are the factors that drive people to react in a certain form. It allows individuals to go after their preferences. However, external factors can also push people to act in one way or another. Those factors could be inflation, low job opportunities or unplanned major events like war.
The following is the post-closing trial balance for the Whitlow Manufacturing Corporation as of December 31, 2015.
Account Title Debits Credits
Cash 4,100
Accounts receivable 1,100
Inventory 4,100
Equipment 10,100
Accumulated depreciation—equipment 2,600
Accounts payable 2,100
Common stock 9,000
Retained earnings 5,700
Sales revenue 0
Cost of goods sold 0
Salaries and wages expense 0
Rent expense 0
Advertising expense 0
Totals 19,400 19,400
The following transactions occurred during January 2016:
Jan. 1
Sold merchandise for cash, $2,600. The cost of the merchandise was $1,100. The company uses the perpetual inventory system.
2 Purchased equipment on account for $4,600 from the Strong Company.
4
Received a $200 bill from the local newspaper for an advertisement that appeared in the paper on January 2.
8 Sold merchandise on account for $4,100. The cost of the merchandise was $1,900.
10 Purchased merchandise on account for $9,050.
13 Purchased equipment for cash, $900.
16 Paid the entire amount due to the Strong Company.
18 Received $4,000 from customers on account.
20 Paid $900 to the owner of the building for January’s rent.
30 Paid employees $2,100 for salaries and wages for the month of January.
31
Paid a cash dividend of $900 to shareholders.
Required:
1, Prepare general journal entries to record each transaction.
2, Post the transactions into the appropriate T-accounts.
3,Prepare an unadjusted trial balance as of January 31, 2016.
The journal entries to record each transaction is given below.
Anything that involves a shift in the financial situation of more than one entity, whether they be people or businesses.
A transaction is described as the exchange of goods and services, the transfer of money, or the agreement to trade goods and services in the future, depending on the transaction definition.
Any exchange involving another person can be referred to as a transaction, including significant business deals involving the purchase or sale of items. There are exchanges of money, concepts, and even e-mail. An agreement or completion are both described by the Latin word transaction.
Sold merchandise for cash, [tex]$4,300[/tex]. The cost of the merchandise was [tex]$2,800[/tex]. The company uses the perpetual inventory system.
Debit Cash Account Asset [tex]$ 4,300[/tex]
Credit Sales Income Account [tex]$ 4,300[/tex]
Debit Cost of goods sold [tex]$ 2,800[/tex]
Credit Inventory Account [tex]$ 2,800[/tex]
Purchased equipment on account [tex]$6,300[/tex] of the Strong Company.
Debit Equipment Asset [tex]$ 6,300[/tex]
Credit Payable [tex]$ 6,300[/tex]
4 Received a $100 bill from the local newspaper for an advertisement that appeared in the paper on January 2.
Debit Advertisement expense [tex]$ 100[/tex]
Credit Payable [tex]$ 100[/tex]
Sold merchandise on account for $5,800. The cost of the merchandise was $3,600.
Debit Account Receivable [tex]$ 5,800[/tex]
Credit Sales Income [tex]$ 5,800[/tex]
Debit Cost of Goods Sold [tex]$ 3,600[/tex]
Credit Inventory [tex]$ 3,600[/tex]
Purchased merchandise on account for [tex]$9,900.[/tex]
Debit Inventory [tex]$ 9,900[/tex]
Credit Payable [tex]$ 9,900[/tex]
Purchased equipment for cash,[tex]$700.[/tex]
Debit Equipment Asset [tex]$700.[/tex]
Credit Cash [tex]$ 700[/tex]
Paid the entire amount due to the Strong Company.
Debit Payable [tex]$ 6,300[/tex]
Credit Cash [tex]$ 6,300[/tex]
Received [tex]$5,600[/tex] from customers on account.
Debit Cash [tex]$5,600[/tex]
Credit Receivable [tex]$ 5,600[/tex]
Paid [tex]$700[/tex] to the owner of the building for January’s rent.
Debit Rent expense of [tex]$ 700[/tex]
Credit Cash [tex]$ 700[/tex]
Paid employees [tex]$3,800[/tex] for salaries and wages for January.
Debit Salary expense of [tex]$ 3,800[/tex]
Credit Cash ` [tex]$ 3,800[/tex]
Paid a cash dividend [tex]$ 3,800[/tex] to shareholders.
Debit Dividend payable/Retain Earning [tex]$ 1000[/tex]
Credit Cash [tex]$ 1000[/tex]
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Aberzombie purchases denim jeans from manufacturer oversees. The current purchase price is $9.2 per unit. Efforts to improve quality has prompted sourcing to consider making the jeans in-house. Annual sales should increase from 150,000 to 600,000 units. Fixed costs would increase by about $1,125,000 per year for the new equipment and tooling needed. The cost of raw materials and variable overhead would be about $2 per unit, and labor costs would be $3 per unit produced.What is the break-even quantity? _________ units (Enter your response rounded to the nearest whole number.)
Answer:
234,375 units
Explanation:
The computation of the break-even quantity is shown below:
= (Fixed cost) ÷ (Contribution margin per unit)
where,
Contribution margin per unit = Selling price per unit - variable cost per unit
= $9.2 per unit - $2 per unit - $3 per unit
= $4.8
So, the break even quantity would be
= $1,125,000 ÷ $4.8
= 234,375 units
We assume the current purchase price would be equal to selling price per unit
Mary's Mugs produces and sells various types of ceramic mugs. The business began operations on January 1, year 1, and its costs incurred during the year include these:
Direct materials cost $ 3,400 Direct manufacturing labor costs 25,280 Indirect manufacturing costs 1,140 Administration and marketing 2,350 Fixed costs: Administration and marketing costs 11,800 Indirect manufacturing costs 4,180
On December 31, year 1, direct materials inventory consisted of 3,400 pounds of material. Production in that year was 17,000 mugs. All prices and unit variable costs remained constant during the year. Sales revenues for year 1 was $52,500. Finished goods inventory was $6,000 on December 31, year 1. Each finished mug requires 0.4 pounds of material. (Do not round intermediate calculations.)
Required:
a. Compute the direct materials inventory cost, December 31, year 1.
b. Compute the finished goods ending inventory in units on December 31, year 1. (Do not round intermediate calculations.)
c. Compute the selling price per unit. (Round your answer to 2 decimal places.)
d. Compute the operating profit (loss) for year 1.
Answer:
Explanation:
a.
Direct Material cost per unit = Cost of Direct materials/ units produced = $3400/17000 mugs = $0.20 per mug
Direct material used per mug = 0.40 pounds
Direct material cost per pound = $0.20 / 0.40 = $0.50 per round
Direct material inventory = 3400 * $0.50 = $1700
b. Compute the finished goods ending inventory in units on December 31, year 1.
Finished Goods inventory (in units) = Finished goods inventory / manufacturing cost per unit
Manufacturing cost per unit = (Direct material + Direct Labour + Indirect manufacturing cost)/Units Produced
= ($3400+$25280+$1140+$4180)/17000 = $2 per unit
Finished Goods inventory (in unit) :
Year 1 = $6,000/$2 = 3000 units
c. Compute the selling price per unit.
Selling price per unit = Revenues / units sold
Units sold = Units produced - units in the ending finished goods inventory = 17000-3000 = 14000
Selling price per unit = $52,500/14000 = $3.75
d.Compute the operating profit (loss) for year 1
Operating income for the year :
Revenues $52,500
Cost of goods sold (14000*$2) (28000 )
-----------------------------------------------------------------
Gross Margin $24,500
Less marketing and administrative cost:
Variable cost ($2,350)
Fixed cost ($11,800)
-----------------------------------------
($14,150)
Operating Profit $10,350
To compute the direct materials inventory cost, multiply the units produced by the material required per unit and subtract the ending inventory. Divide the finished goods inventory value by the unit variable cost to determine the number of units. Divide the total sales revenue by the number of units sold to find the selling price per unit. Subtract the total costs incurred from the total sales revenue to calculate the operating profit (or loss) for the year.
Explanation:a. To compute the direct materials inventory cost on December 31, year 1, we need to calculate the value of the direct materials used in production and subtract any ending inventory. The direct materials used can be calculated by multiplying the units produced by the material required per unit. We then multiply this by the cost per pound to get the total cost of direct materials used. Subtracting the ending inventory from this total gives us the direct materials inventory cost.
b. To compute the finished goods ending inventory in units on December 31, year 1, we need to use the information given about production and the unit variable costs. By dividing the finished goods inventory value by the unit variable cost, we can determine the number of units in the inventory.
c. To compute the selling price per unit, we divide the total sales revenue by the number of units sold.
d. To compute the operating profit (loss) for year 1, we subtract the total costs incurred (direct materials, direct manufacturing labor, indirect manufacturing costs, and administration and marketing costs) from the total sales revenue. This gives us the operating profit (or loss) for the year.
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In the obsolescing bargain situation, bargaining power of the host country government will be stronger when the MNC has made larger investments in that country.
True or False?
Answer:
True
Explanation:
The obsolescing bargain is a model of interaction between a multinational enterprise and a host country government, which initially reach a bargain that favors the MNE but where, over time as the MNE's fixed assets in the country increase, the bargaining power shifts to the government
A ________ is a descriptive fact about a product or service; a ________ is what the customer gains from that characteristic.
Answer:
The correct words for the blank spaces are: feature; benefit.
Explanation:
The product features are all the characteristics that represent it: design, size, and price, and availability are some of them. The product features make a good or service unique and differentiate it from competitors. The product benefit is the value customers provide to the good or service based on the need it satisfies. The more beneficial, the more frequent customers will purchase it.
Simon Company had the following summarized operations for the month of May: Revenues earned: for cash, $32,000; and on account, $18,000; and Expenses incurred: for cash, $5,000; and on account, $10,000. In addition, the company purchased Equipment for $8,000 on account and Supplies for $5,000 for cash. The net income for the month of May is $35,000. $27,000. $45,000. $14,000.
Answer:
$35,000
Explanation:
Given that,
Revenues earned:
cash = $32,000
on account = $18,000
Expenses incurred:
cash = $5,000
on account = $10,000
Net Income:
= Income - Expenses
= (Cash revenue + account revenue) - (cash expenses + Expenses on account)
= ($32,000 + $18,000) - ($5,000 + $10,000)
= $35,000
Therefore, the net income for the month of May is $35,000.
The net income for the month of May is $35,000.
Based on the information given, the revenue will be:
= $32000 + $18000
= $50000
The expenses will be:
= $5000 + $10000
= $15000
The net income will be:
= Revenue - Expenses
= $50000 - $15000
= $35000
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The 2017 balance sheet of Dream, Inc., showed current assets of $3,175 and current liabilities of $1,645. The 2018 balance sheet showed current assets of $2,920 and current liabilities of $1,620.
What was the company’s 2018 change in net working capital, or NWC? (Do not round intermediate calculations. A negative answer should be indicated by a minus sign.)
Answer:
-$230
Explanation:
Working Capital is the capital of a business which is used in its day-to-day trading operations, calculated as the current assets minus the current liabilities.
WC 2017 = $3175 - $1645 = $1530
WC 2018 = $2920 - 1620 = 1300
Change in Working Capital = -$230
The change in Net Working Capital (NWC) of Dream, Inc. from 2017 to 2018 is a decrease of $230, calculated by subtracting the 2017 NWC ($1,530) from the 2018 NWC ($1,300).
Explanation:The formula for calculating the Net Working Capital (NWC) is Current Assets - Current Liabilities. To find the change in NWC from 2017 to 2018, we first determine the NWC for both years and then subtract the 2017 NWC from the 2018 NWC.
For 2017, the NWC calculation would be $3,175 (Current Assets) - $1,645 (Current Liabilities), which results in $1,530.
For 2018, the NWC is $2,920 (Current Assets) - $1,620 (Current Liabilities), which equals $1,300.
So, the change in NWC from 2017 to 2018 is $1,300 (2018 NWC) - $1,530 (2017 NWC) = -$230. Therefore, the NWC of Dream, Inc decreased by $230 from 2017 to 2018.
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On January 1, 2017, Fisher Corporation purchased 40 percent (86,000 shares) of the common stock of Bowden, Inc. for $986,000 in cash and began to use the equity method for the investment. The price paid represented a $66,000 payment in excess of the book value of Fisher's share of Bowden's underlying net assets. Fisher was willing to make this extra payment because of a recently developed patent held by Bowden with a 15-year remaining life. All other assets were considered appropriately valued on Bowden's books.
Bowden declares and pays a $104,000 cash dividend to its stockholders each year on September 15. Bowden reported net income of $396,000 in 2017 and $354,000 in 2018. Each income figure was earned evenly throughout its respective year.
On July 1, 2018, Fisher sold 10 percent (21, 500 shares) of Bowden's outstanding shares for $328,000 in cash. Although it sold this interest, Fisher maintained the ability to significantly influence Bowden's decision-making process.
Prepare the journal entries for Fisher for the years of 2017 and 2018. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Round your final answers to the nearest whole dollar.)
An entry in your business books called a journal serves as a record of a transaction. A minimum of two journal entries must be made for each transaction in double-entry bookkeeping. The required entries are in Fisher Corporation.
The following are the required Journal entries in the books of Fisher Corporation.
1. To record the purchase of Bowden, Inc. stock:
Debit: Investment in Bowden, Inc. $986,000
Credit: Cash $986,000
2. To record Bowden's dividend declaration and payment:
Debit: Dividend Receivable from Bowden $41,600 ($104,000 × 40%)
Credit: Investment in Bowden, Inc. $41,600
3. To record the sale of 10% of Bowden's shares:
Debit: Cash $66,000
CredInvestment in Bowden, Inc. $48,800
Gain on Sale of Investment $17,200
Therefore, these Journal entry adjusts Fisher's investment in Bowden after the sale of shares.
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The journal entries for Fisher Corporation for the years 2017 and 2018 are provided, including the initial purchase of shares, dividend payments, and the sale of shares.
Explanation:Journal entries for Fisher Corporation for the years 2017 and 2018:
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Martha can produce 90 quilts or 180 batches of chocolate chip cookies in a month. Jane can produce 6 quilts or 18 batches of chocolate chip cookies in a month. Distinguish between comparative advantage and absolute advantage. _______ has an absolute advantage in both goods. A. Martha B. Jane ______ has a comparative advantage in quilts. ______ has a comparative advantage in chocolate chip cookies. A. Jane; Martha B. Martha; Jane C. Jane; Jane D. Martha; Martha
Answer: The correct answers are a) & b). That is MARTHA, MARTHA; JANE.
Explanation: Absolute advantage exists when a party can oroduce a highe quantity of a good or product. This is the situation with Martha in her productions.
Comparative advantage on the other hand is when a party has a lower opportunity cost. This exists in both the production of quilts and chocolate chip cookies.
The correct answer to the given question is:
A. Jane; MarthaAbsolute AdvantageThis refers to the economic situation where a person has the ability to produce goods which are of a higher quantity when compared to another person.
Comparative AdvantageThis refers to the economic situation where one person has a lower opportunity cost which shows that he or she has foregone alternatives in comparison to another.
Therefore, the correct answer is option A
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In Statistical Process Control (SPC), if a sample of items is taken and the mean of the sample is outside the control limits, the process is:
a. out of control and the cause should be established
b. producing high quality products
c. in control and capable of producing within the established control limits
d. in control, there is no need for concern within the established control limits with only natural causes of variation
The process will be out of control and the cause must be established
Explanation:
The statistical method in which the employers handle to control the quality and to control the process of a specific process and they help to function efficiently
This will ensure that the products operates efficiently and if the products produce more specifications and the tools that are included will include the run charts the control charts and the main focus will be on the continuous improvement and in the design of the experiments
At a price of $1.94 per bushel, the supply of corn is 9,800 million bushels and the demand is 9,300 million bushels. At a price of $1.82 per bushel, the supply is 9,400 million bushels and the demand is 9,500 million bushels.
a) Find a price-supply equation of the form p mx b, where p is the price in dollars and x is the corresponding supply in millions of bushels.
b) Find a price-demand equation of the form p mxb, where p is the price in dollars and x is the corresponding supply in millions of bushels.
c) Using Excel, graph the price-supply and price-demand equations in the same coordinate system and find their point of intersection (equilibrium point)
Answer:
Hi there!
1) Supply ecuation: P = -0.0006 * Q + 7.52
2) Offer ecuation: P = 0.0003 * Q - 1
3) Equilibrium point : Q = 9,466.67 ; P = 1.84
Explanation:
1) First, we find the slope of the supply ecuation
[tex]m= \frac{P2-P1}{Q2-Q1} = \frac{1.94-1.82}{9500-9300}= \frac{0.12}{200} \\\\m = 0.0006[/tex]
Then, we replace with a value for the price and another for the quantity, both that correspond, and we will obtain the supply function
[tex]P = -0.0006 Q + b\\1.82 = -0.0006 * 9500 +b\\1.82 = -5.7 + b\\b = 1.82 + 5.7\\b = 7.52[/tex]
2) First, we find the slope of the offer function
[tex]m= \frac{P2-P1}{Q2-Q1} = \frac{1.94-1.82}{9800-9400}= \frac{0.12}{400} \\\\m = 0.0003[/tex]
Then, we replace with a value for the price and another for the quantity, both that correspond, and we will obtain the offer function
[tex]P = 0.0003Q +b\\1.82 = 0.0003 * 9400 + b\\1.82 = 2.82 + b\\b = 1.82 - 2.82\\b= -1\\[/tex]
3)To calculate the equilibrium point, we must match the demand and supply function
[tex]-0.0006 * Q + 7.52 = 0.0003 * Q - 1\\-0.0006 * Q - 0.0003 * Q = - 1 - 7.52\\-0.0009 * Q = -8.52\\Q=\frac{-8.52}{-0.0009}\\\\Q= 9,466.67[/tex]
We replace the amount of equilibrium in some of the equations and obtain the equilibrium price
[tex]P = 0.0003 * Q - 1\\P = 0.0003 * 9,466.67 - 1\\P = 2.84 - 1\\P = 1.84[/tex]
The correct answers are:
The Supply equation: P = -0.0006 * Q + 7.52The Offer equation: P = 0.0003 * Q - 1The Equilibrium point : Q = 9,466.67 ; P = 1.84Calculations and Parameters:1. We find the slope of the supply equation:
m= 0.12/200
m = 0.0006
To get the supply function:
P= 0.0006Q + b
1.82= -5.7 + b
b= 7.52
2. To find the slope of the offer function:
m= 0.12/400
m= 0.0003
To get the offer function,
P= 0.0003Q + b
b= 1.82 - 2.82
b= -1
3. To find the equilibrium point, we match the demand and supply function:
-0.0009 x Q
= -8.52
Q= -8.52/-0.0009
Q= 9,466.67
We replace the amount of equilibrium in some of the equations and obtain the equilibrium price:
P= 0.0003 x Q -1
=2.84-1
P= 1.84
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Suppose the demand function (D) for golf clubs is: Qequals150minus1.00P, where P is the price paid by consumers in dollars per club and Q is the quantity demanded in thousands. Suppose the supply curve (S) for golf clubs is estimated to be: Qequals1.00P. Calculate the equilibrium price for golf clubs and the equilibrium quantity sold. The equilibrium price is $ nothing per club (Enter your response as an integer.)
Answer:
P = $75 per club
n= 75,000 clubs
Explanation:
The demand and supply functions are:
[tex](D): Q=150-1.00P\\(S): Q=1.00P\\[/tex]
The equilibrium price is the price that yields a quantity demanded equal to the quantity supplied:
[tex]150-1.00P=1.00P\\P=\frac{150}{2}\\P=\$75[/tex]
The number of units sold at that price is:
[tex]n=1,000*(1.00*75)\\n=75,000\ units[/tex]
The equilibrium quantity sold is 75,000 clubs (since the original equation had quantities in thousands).
To find the equilibrium price, we need to set the demand and supply equations equal to each other and solve for P.
Demand: Qd = 150 - 1.00P
Supply: Qs = 1.00P
Equating the two:
150 - 1.00P = 1.00P
Solving for ( P ):
150 = 2.00P
P = 150/2.0
P = 75
So, the equilibrium price for golf clubs is $75 per club.
To find the equilibrium quantity, we can substitute the value of ( P ) into either the demand or supply equation:
Equilibrium Quantity (using the supply equation):
Qs = 1.00 x 75 = 75
The equilibrium quantity sold is 75,000 clubs (since the original equation had quantities in thousands).
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Describe several ways that communication technology can assist individuals and organizations.
Answer:
Describe several ways that communication technology can assist individuals and organizations?
Communication Technology has greatly helped individuals to build confidence or increase it, also it helps to grow or develop a good interpersonal relationship, it also helps individual to be expressive either by writing or speaking, it helps enhances smooth running of organization in terms of team work, synergy, among others
Explanation:
Suppose that the Bethesda Mining Company had sales of $2,166,873 and net income of $108,381 for the year ending December 31, 2019. Calculate ROE using the DuPont identity. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Enter the profit margin and return on equity as a percent.)
Answer: attached below
Explanation:
The return on equity is 24.01%. As the profit margin is 3.30% and assets turnover is 29.9. The equity multiplier is 2.65. The image is attached for better understanding.
What is return on equity?Return on equity is the proportion of a company's net income to its shareholders' equity. Return on equity is a metric used to assess a company's financial performance and the efficiency of its revenue generating.
The higher the ROE, the better a company is in converting equity financing into profits. ROE is used to compare the financial performance of companies in the same sector. As it specifies the profit generated by the firm.
It measures the management's ability to turn a profit with the equity at hand. A return of 15% to 20% is considered to be favourable.
Thus, The return on equity is 24.01%.
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Tim woke up this morning with a stomachache and decided to skip class in order to get more rest. What is the opportunity cost of Tim's decision to sleep in?
a) the improvement in how he feels by getting more rest
b) the actual enjoyment of lying in bed instead of sitting in class
c) the value of attending the class he decided to miss
d) the level of pain he endured from the stomachache
Answer:
The correct answer is letter "C": the value of attending the class he decided to miss.
Explanation:
Opportunity cost reflects the benefit of the option chosen -out of different variables- compared to the benefit that could have been obtained if another option was taken. It is the return of the option taken in reference to the option forgone. Opportunity cost could be positive or negative.
In Tim's case, as he decides to stay at home because of his stomachache, he will be missing class. Thus, the class missed is Tim's opportunity cost over sleeping in.
Answer: C - the value of attending the class he decided to miss
Explanation: Opportunity costs are best defined in values of forgone alternatives. It is the cost gotten for not picking another available option. Waking up with a stomach ache and going to class are the two options Tom has, by deciding to stay at home Tom has sacrificed being at school and learning. That sacrificed value is the opportunity cost for staying at home. Therefore the answer is C and not the rest of the other options.
On January 1, 2013, JWS Corporation issued $693,000 of 7% bonds, due in 10 years. The bonds were issued for $645,911, and pay interest each July 1 and January 1. JWS uses the effective interest method. Prepare the company's journal entries for
(a) the January 1 issuance,
(b) the July 1 interest payment, and
(c) the December 31 adjusting entry. Assume an effective interest rate of 8%. (List multiple debit/credit entries from largest to smallest amount, e.g. 10, 5, 2. Round answers to zero decimal places, e.g. 2,510.)
Answer:
Explanation:
Calculation for A:
Jan 1
Outstanding Balance 645,911
Calculation for B:
July 1
Cash Interest Payment 693,000 *0.07 *6/12 = 24,255
Interest Expense 645,911 *0.08 *6/12 =25,836.44
Discount Amortized =25,836.44 - 24,255=1,581.44
Outstanding Balance 645,911 + 1,581.44 = 647,492.4
Calculation for C:
Dec 31
Cash Interest Payable 24,255
Interest Expense 647,492.44 *0.08 *6/12 = 25,899.696
Discount Amortized 1,644.693
Outstanding Balance 647,499.24 + 1,644.693 = 649137.096
Now, Journal entries:
(a)
Dr Cash 645,911
Dr Discount on Bonds Payable 47,089
Cr Bonds Payable 693,000
(b)
Dr Interest Expense 25,836
Cr Discount on Bonds Payable 1,581
Cr Cash 24,255
(c)
Dr Interest Expense 225,899
Cr Discount on Bonds Payable 1,644
Cr Interest Payable 24,255
Bill Lister contracted with Plimsoll Corporation to complete the roofing on a housing complex. A signed contract established a flat amount for the services rendered by Bill Lister. Bill is a licensed roofer and does his business under the business name, Lister Roofing. He hires his own roofers who are treated as employees for federal employment tax purposes. If there is a problem with the roofing work, Lister Roofing is responsible for paying for any repairs. Bill Lister, doing business as Lister Roofing, is a(n)
Multiple Choice
a. agent.
b. independent contractor.
c. bailor.
d. lessee.
Answer:
The correct answer is letter "B": independent contractor.
Explanation:
An independent contractor is typically a third party hired to perform a specific job on behalf of other companies without the need of sharing employees. The independent contractor acts as another company with its own payroll and has all the benefits and liabilities according to the type of organization it selects for business.
Which process is recommended for those products with the highest volume and the highest standardization on the product continuum?
Answer:
correct answer is Continuous flow
Explanation:
highest volume and the highest standardization is Continuous flow
because in the Continuous-flow process it involve moving of 1 work unit at a time between the every step of the process without break in the time and sequence and substances
simply continuous flow save the time, energy and the cost with high volume and the high standard
so here the correct answer is Continuous flow
A(n) ____ strategy involves a partnership with a long-term commitment that can be used to acquire new technology and information.
Answer:
joint venture
Explanation:
Joint venture -
It is the type of business agreement , where two or more companies or business organisation , comes together to merge their resources in order to accomplish a common activity or a new project together , is referred to as a joint venture.
In this scenario , the profit or loss to the new business is equally shared between both the companies.
Hence, from the given statement of the question,
The correct term is joint venture .
The accountant for Sysco Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available: Retained earnings balance at the beginning of the year Net income for the year Cash dividends declared for the year $ 819,000 230,e00 42,000 1,007,000 10,00e Retained earnings balance at the end of the year Cash dividends payable at the beginning of the year Cash dividends payable at the end of the year 11,000
What is the amount of cash dividends paid that should be reported in the financing section of the statement of cash flows? Multiple Choice
$42,000.
$42.000
$43,000
$63.000.
$1,000
$41000
Answer:
The correct answer is $ 41,000.
Explanation:
This problem requires us to calculate the amount of cash dividend that will be reported in the financing section of the statement of cash flows. In statement of cash flow the dividend paid in cash during the period is reported. Dividend declaration in not relevant as far as statement of cash flow is concerned.
Cash dividend to reported is calculated as follow.
Dividend payable opening balance = 10,000
Divdend declared = 42,000
Dividend payable closing balance = (11,000)
Dividend paid = 41,000
The amount of cash dividends paid that should be reported in the financing section of the statement of cash flows for Sysco Company is $41,000. This is calculated by adding the dividends declared to the dividends payable at the beginning of the year and subtracting the dividends payable at the end of the year.
Explanation:To calculate the cash dividends paid that should be reported in the financing section of the statement of cash flows, we consider the dividends declared and the balance of dividends payable at both the beginning and end of the year. In this scenario, Sysco Company declared $42,000 in dividends. Dividends payable were $10,000 at the beginning of the year and $11,000 at the end. So, Cash dividends paid = Declared dividends + Dividends payable at the beginning - Dividends payable at the end. Therefore, Cash dividends paid = $42,000 + $10,000 - $11,000 = $41,000.
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In which stage of the product planning and development process would it be appropriate to give product samples to a panel of potential customers?
A. Idea stage
B. Concept stage
C. Product development stage
D. Commercialization stage
Answer:
c. Product development stage
Explanation:
Product development stage -
In the method of product planning and development , the product development is one of its stage .
Product development stage basically incircles the technical activities of the design and engineering .
In this stage the brand name , packaging and label is deceased , and in this very step the samples are given to certain potential customers .
Hence, from the given information of the question,
The correct option is c. Product development stage .
There are different stages of product planning. The stage of the product planning and development process that would it be appropriate to give product samples to a panel of potential customers is Product development stage.
There are seven known stages of the New Product Development process. They include;
Idea generationIdea screeningConcept development, and testingBuilding a market strategyProduct development Market testingMarket commercializationProduct Planning is simply known as the current process of knowing and articulating market needs that is specific to a product's feature set. It is known to be the basis step taken for decision-making about price, distribution and promotion.
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A _____ is a statement of company rules, guidelines, and instructions with a purpose to inform, build image, and goodwill. A. monthly and annual report B. transmittal C. 10 K report D. policy and procedure bulletin E. quarterly report
Answer:
The correct answer is letter "D": policy and procedure bulletin.
Explanation:
The policy and procedure bulletin is the document that states all the practices and behavior the company expects from the employees after hiring them. The policy and procedure bulletin represents the rules of the firm that must be followed within the organization to ensure worker's safety and a peaceful work-frame.