Final answer:
The duties under the teaching contract are nondelegable, personal, and a novation would occur if the school district agrees to accept Stephanie's services, which would relieve Theresa of her obligation. Option d.
Explanation:
The situation described with Theresa and Stephanie involves legal principles related to employment and contract law within the education sector. We can assess the scenario based on those principles, particularly around the assignment and delegation of contract duties, as well as the concept of novation.
Nondelegable duties often exist in contracts that involve highly personalized services. In the case of a teaching contract, the services are typically considered personal because they are based on the unique skills, qualifications, and certifications of the hired teacher.
Given that teaching positions usually require specific credentials and bear personal responsibility for student outcomes, the duties under the teaching contract being delegated by Theresa are certainly personal in nature, which makes the delegation potentially problematic without consent.
However, if the school district agrees to accept Stephanie to fulfill Theresa's contract, a legal concept called novation would occur.
Novation is the substitution of a new contract in place of the old one, with the consent of all parties, and would relieve Theresa of her prior obligations to the district as Stephanie effectively becomes the new contracting party.
Therefore, the correct answer is d. All of the above are correct. The duties are nondelegable, personal in nature, and novation would relieve Theresa of her contractual obligations upon agreement of the school district. Option d.
To record a 6% stock dividend, accountants use ________. To record a 55% stock dividend, accountants use ________. A. par value per share; market price per share B. par value per share; par value per share C. market price per share; market price per share D. market price per share; par value per share
Answer:
Computers
Explanation:
They use computers these days.
Answer:
The correct answer is letter "D": market price per share; par value per share.
Explanation:
When a stock dividend represents less than 20 to 25% of the outstanding shares it is considered a small stock dividend since it does not have a bigger impact in the market value of the stock and is recorded at the market price. On the other hand, when a stock dividend is greater than 25%, it is considered a large stock dividend since may affect the market value of the stock and is recorded at par value.
Who did publisher Henry Luce credit with the provision of “the abundant life” in his blueprint for postwar prosperity, The American Century? a. Returning veterans. b. Labor unions. c. The Department of Defense. d. Free enterprise. e. The New Deal state.
Answer:
The correct answer is d. Free enterprise.
Explanation:
Henry Robinson Luce was known as an American publisher and journalist. They gave him the name of "the most influential private citizen in the America of his day". This magnate published what is called “The American Century.” “The American Century” also showed “the vision of America as the dynamic leader of world trade,” and this guy Henry Luce could not have fathomed any economic basis for national leadership besides “free enterprise.”
At March 1, 2017, Candy Inc. had supplies on hand of $2,000. During the month, Candy purchased supplies of $2,900 and used supplies of $2,800. The March 31 balance sheet should report what balance in the supplies account?
Answer:
The March 31st balance sheet should have $2100.
Explanation:
Candy Inc. had $2000 of supplies on hand. They purchased $2900 more.
Therefore at this time, Candy Inc. had a total of $4900 supplies. See below.
Total amount of supplies = supplies on hand + supplies purchased
Total amount of supplies = $2000+$2900
Total amount of supplies= $4900
They used $2800 in March. Therefore, the March 31st balance sheet should have $2100.
Balance=total amount of supplies-supplies used
Balance=$4900-$2800
Balance=$2100
For each separate case below, follow the 3-step process for adjusting the prepaid asset account at December 31. Step 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal. Step 3: Record the December 31 adjusting entry to get from step 1 to step 2. Assume no other adjusting entries are made during the year. a. Prepaid Insurance. The Prepaid Insurance account has a $4,700 debit balance to start the year. A re- view of insurance policies and payments shows that $900 of unexpired insurance remains at year-end. b. Prepaid Insurance. The Prepaid Insurance account has a $5,890 debit balance at the start of the year. A review of insurance policies and payments shows $1,040 of insurance has expired by year-end. C.PrepaidRent.OnSeptember1ofthecurrentyear,thecompanyprepaid$24,000 for 2 years of rentfor facilities being occupied that day. The company debited Prepaid Rent and credited Cash for $24,000.
PART A
Answer:
Insurance expense debit for 3,800
Insurance prepaid credit for 3,800
Explanation:
a.- Prepaid Insurance. The Prepaid Insurance account has a $4,700 debit balance to start the year. A re- view of insurance policies and payments shows that $900 of unexpired insurance remains at year-end.
Step 1: Currently equals to $4,700
Step 2: It should equal $900
In this Case: It is giving us the begining balance, and then it proceeds to tell us the ammount unexpired, which means the ending balance. So the diference will be the adjuting entry
Step 3: $4700 - $900 = $3,800
insurance expense debit for 3,800
insurance prepaid credit for 3,800
PART B
Answer:
insurance expense 1040 debit
prepaid insurance 1040credit
Explanation:
b.- Prepaid Insurance. The Prepaid Insurance account has a $5,890 debit balance at the start of the year. A review of insurance policies and payments shows $1,040 of insurance has expired by year-end.
Step 1: Curently equals to $5,890
Step 2: 5,890 - 1,040 expired portion = 4,850 unexpired portion
The blaance should be 4,850
In this Case: It is giving us the begining balance, and then it proceeds to tell us the ammount expired, which means the adjusting entry. So the diference will be the ending balance
Step 3
The adjusting entry must be made for 1,040 which is the expired portion
insurance expense 1040 debit
prepaid insurance 1040credit
PART C
Answer:
rent expense 4,000 debit
prepaid rent 4,000 credit
Explanation:
C.- PrepaidRent. On September 1 of the current year, the company prepaid $24,000 for 2 years of rent for facilities being occupied that day. The company debited Prepaid Rent and credited Cash for $24,000.
Step 1 Current balance is 24,000
In this Case: It is giving us the begining balance, and then it proceeds to tell us information about the contract, which means we are going to work to get the expired portion and with that calculate the ending balance like on part B
Step 2 We are at December 31th the expired portion will be 4 months (September, October, November and December) so:
24,000
----------------------------- x 4 months expired = 4,000 expired portion
24 month of contract
24,000 - 4,000 = 20,000
begining - expired = ending AKA "unexpired"
The balance should be equal to 20,000
Step 3: the adjusting entry should be done for 4,000 which is the expired portion of the rent.
rent expense 4,000 debit
prepaid rent 4,000 credit
Adjusting Journal Entries at December 31:
a. Debit Insurance Expense $3,800
Credit Prepaid Insurance $3,800
To record Insurance Expense for the year.
b. Debit Insurance Expense $1,040
Credit Prepaid Insurance $1,040
To record Insurance Expense for the year.
c. Debit Rent Expense $4,000
Credit Prepaid Rent $4,000
To record Rent Expense for the year.
Data Analysis and Calculations:
a. Prepaid Insurance.
Steps:
1. Balance at beginning $4,700 debit
2. Balance at end $900
3. Insurance Expense = $3,800 ($4,700 - $900)
Insurance Expense $3,800 Prepaid Insurance $3,800
b. Prepaid Insurance.
Steps:
1. Balance at beginning $5,890
2. Balance at end = $4,850 ($5,890 - $1,040)
3. Insurance Expense $1,040
Insurance Expense $1,040 Prepaid Insurance $1,040
C. Prepaid Rent
Steps:
1. Prepaid Rent $24,000
2. Balance at end = $20,000 ($24,000 - $4,000)
3. Rent Expense = $4,000 ($24,000 x 4/24)
Rent Expense $4,000 Prepaid Rent $4,000
Learn more about recording adjusting entries at https://brainly.com/question/13035559
enjoy a great working relationship and just recently have started dating. They can't seem to get enough of each other outside of the workplace. At work, however, they usually only interact during breaks and lunch, which they take together. They are clearly infatuated with each other but do not engage in public displays of affection. Romance of any kind has no place at work. This couple's relationship is clearly at risk for sexual harassment.
Answer:
uh what?
Explanation:
Final answer:
Workplace romances are controversial, as they can increase both satisfaction and productivity, but also introduce complex emotions and potential for sexual harassment. Companies have varied policies, from prohibiting these relationships to having 'love contracts.' Challenges include favoritism, gossip, and professional boundaries.
Explanation:
Workplace romances are a subject of controversy and debate due to their potential to introduce emotions and sexuality into the professional environment. While some argue that they have no place at work and can risk leading to sexual harassment, others point to research indicating that such relationships can increase employee satisfaction and productivity. Charles Pierce, Donn Byrne, and Herman Aguinis define a romantic workplace relationship as when "two employees have acknowledged their mutual attraction to one another and have physically acted upon their romantic feelings in the form of a dating or otherwise intimate association."
These relationships can have various motives, such as job motives (power, money, job security), ego motives (thrill of the chase, self-esteem boost), and love motives (desire for affection and companionship). The impacts of workplace romances can affect not just the couple but also coworkers and company policies. Companies take different approaches to managing workplace romances, from prohibitions to requiring "love contracts" or having open policies that support such relationships.
Challenges and Impacts of Workplace Romances
Despite the potential positive effects, workplace romances can create complications, such as favoritism, gossip, and blurred lines between attraction and harassment. High-profile examples like the firings of executives at the American Red Cross and the World Bank highlight the problematic nature of these relationships, particularly when they involve power dynamics. It's clear that workplace romances are not rare, with a significant proportion of people experiencing them as participants or observers.
Ultimately, the debate over workplace romances is complex and involves balancing personal freedom with professional boundaries. The communicative elements that affect these relationships are crucial, as they can lead to an environment that either supports or rejects romantic engagements among employees.
In a job order cost accounting system, the entry to record the flow of direct materials into production is: (a) debit Work in Process, credit Materials (b) Debit Materials, credit Work in Process (c) Debit Factory Overhead, credit Materials (d) Debit Work in Process, credit Supplies
Answer:
B
Please make brainliest?
Answer:
A
Explanation:
in the accounting double entry principle Material is debited to Work in progress account because it increase the volume of input of work in progress and credit Work in progress in material account with value of the material
The 2016 balance sheet of Microsoft Corp. reports total assets of $193,694 million, operating liabilities of $68,010 million, and total shareholders’ equity of $71,997 million. Microsoft 2016 nonoperating liabilities are: Select one: A. $140,007 million B. $ 53,687 million C. $ 68,010 million D. $121,697 million E. There is not enough information to calculate the amount.
Answer:
the answer is B
Explanation:
+71,997
68,010
=140,007
193,694-140,007=53,687
What is productivity?
Answer:
Productivity refers to a measure of effectiveness of a person, machine, process, action, etc. The productivity can be found by comparing the average output and the total resources used (Money, time, material, energy, etc).
For example, a person that takes 1 hour fixing a car is way more productive than a person that fixes the same car in 10 hours.
Another example could be, a factory that produces 50 plastic glasses in 3 minutes is way more productive than a factory that produces the same amount of plastic in an hour.
As mentioned before, you can measure productivity not only against time, but also against all the material used, the energy, money etc.
What form of arbritration refers to situations where local representatives agree to comply with the arbitraters decision before the proceedings?
Answer:
binding arbitration
Explanation:
Both parties agree to be bound by the decision of the arbiter and follow the recommendations/obligations stipulated by the arbiter at the end of the process.
That bound of the two parties makes it a binding arbitration.
As opposed to a non-binding arbitration where the result cannot be enforced onto the parties, a bit like a mediation. The result is more like a discussion starting point towards a negotiation of the end of the conflict.
Suppose that next year the U.S. will be in one of the following economic conditions: Boom, Moderate Growth, Recession, or Depression. The probability that each economic condition will occur, and that a jewelry store will earn profits within that broader economic condition are listed below:
Economic Condition Probability Store Profits
Boom 0.4 $ 400,000.00
Moderate Growth 0.3 $ 300,000.00
Recession 0.2 $ 100,000.00
Depression 0.1 $ (500,000.00)
The expected profit of the jewelry store during the next year is?
Answer:
$ 320,000
Explanation:
The expected profit of the jewelery can be calculated by Hope, a statistical concept that consists of the sum of the product of each probability of exit of the experience by its respective value.
Thus, the expected profit of the jewelry store will be: $ 320,000
Hope [(0.4) x 400,000 + (0.3) x 300,000 + (0.2) x100,000 + (0.1) x 500,000)] = 160,000 + 90,000 + 20,000 + 50,000 = $ 320,000
The expected profit of the jewelry store during the next year is $320,000.
Further explanationSuppose that next year the U.S. will be in one of the following economic conditions: Boom, Moderate Growth, Recession, or Depression. The probability that each economic condition will occur, and that a jewelry store will earn profits within that broader economic condition are listed below:
Economic Condition, Probability, Store Profits
Boom, 0.4, $ 400,000.00 Moderate Growth, 0.3, $ 300,000.00 Recession, 0.2, $ 100,000.00 Depression, 0.1, $ (500,000.00)The expected value of a discrete random variable is the average of all possible values weighted by the probability of each outcome
A discrete random variable takes a finite set of possible values. For example, flipping a fair coin produces only two possible outcomes.
The expected profit for the store is sum of expected profit in each economic condition.
[tex] = (0.4* 400,000.00)+ (0.3* 300,000.00) + (0.2*100,000.00) + (0.1*500,000.00) = $22,000 [/tex]
Therefore the expected profit of the jewelry store during the next year is $320,000.
Learn moreLearn more about The expected profit https://brainly.com/question/3316979Learn more about Economic Condition https://brainly.com/question/11895611Learn more about Recession https://brainly.com/question/8395694Answer detailsGrade: 9
Subject: business
Chapter: economic conditions
Keywords: Boom, Moderate Growth, Recession, Depression, The expected profit
Which of the following is true about corporate cultures?a. Corporate cultures are not influenced by the people comprising that organization.b. Corporate cultures are not subject to changes over time.c. Corporate cultures can hinder individuals in making the "right" decisions.d. Corporate cultures in a global firm differ significantly across different countries.
Answer:
Corporate cultures can hinder individuals in making the "right" decisions.-c.
Answer:
individuals in making the right decisions. yep got it right
Explanation:
Your parents have accumulated a $170,000 nest egg. They have been planning to use this money to pay college costs to be incurred by you and your sister, Courtney. However, Courtney has decided to forgo college and start a nail salon. Your parents are giving Courtney $20,000 to help her get started, and they have decided to take year-end vacations costing $8,000 per year for the next four years. Use 8 percent as the appropriate interest rate throughout this problem. Use Appendix A and Appendix D for an approximate answer, but calculate your final answer using the formula and financial calculator methods. a. How much money will your parents have at the end of four years to help you with graduate school, which you will start then?
Would the following be considered a purpose of the Digital Millennium Copyright Act? Select Yes or No. To outline penalties for bypassing or providing tools to bypass protection mechanisms built into copyrighted software.
Answer:
yes
Explanation:
because i said yes
Answer:
Yes
Explanation:
The Digital Millenium Copyright Act was passed in order to protect intellectual property on digital mediums, this includes software, audiovisual material, and other digital mediums that are part of that intellectual property, since the bypassing of protection mechanisms built into copyrighted software is part of that intellectual property protection, the Digital Millenium Act would be considered to have as purpose to deny this.
Professor Dought has a life insurance policy on his own life that provides that in the event of his death, his mother will receive the proceeds. Professor Dought's mother is a(n):a. incidental beneficiary.b. creditor beneficiary.c. donee beneficiary.d. assignee.
Answer:
c. donee beneficiary
Explanation:
A donee beneficiary is that person who will receive the amounts indicated in the insurance policy. For this reason, we can conclude that Professor Dought's mother is a donee beneficiary, because Professor Dought's life insurance indicates that she must receive the money indicated in the insurance policy if Professor Dough dies.
Answer:
Donee Beneficiary
Explanation:
Professor Dought is the policy holder that enter in to contractual agreement with the insurance company .he draw is life insurance plan .while a donee beneficiary's claim to benefit from the contract amounts to a gift from one of the contractual parties .
A cost estimation tool which is used to allocate money into an organization’s budget is known as a _____ estimate. a. ballpark b. budgetary c. rough order of magnitude d. definitive
Answer:
B. Budgetary.
Explanation:
They are used to do that because the range of variance could be from -10% to +20%.
Although this, it is not accurate enough to provide a solid basis for a firm commitment because it only represents an approximation of what is need to be done.
I hope this answer helps you.
Answer:
B
Explanation:
Budgetary is itemized, of expected income and expense for a given period in the future. a plan of operations based on such an estimate. an itemized allotment of funds, time, etc., for a given period.
A strategic plan is primarily designed to:A. provide the answer to all the organization's problems.B. provide input to the strategy implementation stage of strategic management.C. improve a firm's profit margins.D. gain and sustain competitive advantage.E. improve an organization's returns.
Hello There!
A strategic plan is primarily designed to "gain and sustain competitive advantage."
Refer to the following distribution: Cost of Textbooks Frequency $25 up to 35 2 35 up to 45 5 45 up to 55 7 55 up to 65 20 65 up to 75 16 What is the relative class frequency for the $25 up to $35 class?
The relative class frequency for the $25 up to $35 class is calculated by dividing the frequency of the class, which is 2, by the total frequency of all classes, which is 50. This gives us a relative frequency of 0.04 or 4%.
Explanation:The relative class frequency for the $25 up to $35 class is calculated by dividing the frequency of that class by the total frequency of all classes combined. To find the total, we add up all the frequencies for the given classes: 2 (25-35) + 5 (35-45) + 7 (45-55) + 20 (55-65) + 16 (65-75) = 50. Then, we calculate the relative class frequency for the $25 up to $35 class by dividing its frequency by the total frequency: 2/50, which simplifies to 0.04 or 4%.
Classify the following topics as relating to microeconomics or macroeconomics.
A firm's decision on which production method to use
The effect of rent control on the housing market
The effect of an increase in income tax on national income
The effect of externality on the quantity produced by the market
A student's decision about how to allocate hi
Answer:
Microeconomics
A firm's decision on which production method to use.
The effect of rent control on the housing market.
The effect of externality on the quantity produced by the market.
A student's decision about how to allocate hi
Macroeconomics
The effect of an increase in income tax on national income.
The classification of the following topics that are related to microeconomics or macroeconomics is as follows:
When the decision of the firm is taken for the production method so it is microeconomics.When the control of the rent on the housing market is impacted so it is microeconomics.When there is an impact on the rise in the income tax on the national income so it is the macroeconomics. The impact of the quantity generated by the market on an external basis so it is microeconomics.The decision of the student with respect to the distribution of his time that lies between two subjects should be microeconomics.Therefore we can conclude that the above topics should be classified as microeconomics or macroeconomics.
Learn more about the decision here: brainly.com/question/12111899
If the supply of aisle seats and middle seats on an airplane is the same, but the demand for aisle seats is greater than the demand for middle seats, then the equilibrium price of aisle seats will be less than the equilibrium price of middle seats.
True
False
Answer:
False
Explanation:
Offer is the quantity of a product or service available for purchase. Demand is the amount of products or services that consumers are willing to buy.
When demand is higher than supply, product prices tend to rise as consumers are willing to pay more to get a particular item. On the other hand, when supply is higher than demand, prices tend to fall.
For this reason, we can conclude that if the demand for the airplane's aisle seats is greater than the demand for the middle seats; the price for the aisle seats will be higher than the price of the middle seats.
2. Calculating the price elasticity of demand: A step-by-stepguide Suppose that during the past year, the price of a laptop computer fell from $2,650 to $2,430. During the same time period, consumer sales increased from 495,000 to 664,000 laptops.
The correct answer is: "price elasticity of demand = 4.11"
The demand function represents the quantity of a certain good or service that consumers are willing to purchase in the market at different price levels. The law of demand states that there is an inverse relationship between price and quantity demanded (ceteris paribus, hence, given that the rest remains equal). Therefore, when the price charged decreases, the amount that consumers are willing to purchase increases.
In turn, the elasticity of the demand function measures the sensitiveness of the quantity demanded by consumers when there is a certain price change. It is computed by dividing the percentage change of the price variation by the percentage change in the amount demanded and comparing the two figures like in the chart attached. The formula is attached in a second picture, afterwards the absolute value is applied to the result obtined from the formula.
Price elasticity of demand= I [(664000-495000)/495000)] / [(2,430-2,650)/2,650] I= 4.11
(the absolute value has been already applied in the formula I I )
This demand is elastic because the figure obtained exceeds 1. It means that the size of the amount demanded is larger than the size of the price variation, both measured in percentage.
The price elasticity of demand is calculated by dividing the percentage change in quantity demanded by the percentage change in price. Elastic, inelastic, and unitary elasticities indicate how the quantity demanded responds to price changes and affect the total revenue.
Explanation:Computing the Price Elasticity of Demand
To compute the price elasticity of demand, you need to calculate the percentage changes in price and quantity demanded between two points.
The price of a laptop decreased from $2,650 to $2,430. The quantity of laptops sold increased from 495,000 to 664,000. Using these figures, we can calculate the percentage change in quantity as:
((664,000 - 495,000) / ((664,000 + 495,000) / 2)) x 100 =
Next, we calculate the percentage change in price as:
((2,430 - 2,650) / ((2,430 + 2,650) / 2)) x 100 =
After finding the percentage changes, divide the percentage change in quantity by the percentage change in price to get the price elasticity of demand.
Elasticity of Demand = (% change in quantity) / (% change in price)
If the elasticity is greater than 1, it's considered elastic, meaning the quantity demanded changes significantly with price changes. If it's less than 1, it's inelastic. An elasticity of 1 indicates unitary elasticity.
To determine if total revenues would rise or fall, consider that if the demand is elastic, a reduction in price would lead to a proportionally larger increase in quantity demanded, thus, revenue would increase. Conversely, if the demand is inelastic, a reduction in price would not lead to a proportionally larger increase in quantity demanded, and revenue would decrease.
ABC Corporation has provided the following information: Cost per Unit Cost per Period Direct materials $ 6.80 Direct labor $ 4.15 Variable manufacturing overhead $ 1.65 Fixed manufacturing overhead $ 121,500 Variable selling and administrative expense $ 1.50 Fixed selling and administrative expense $ 40,500 If 10,000 units are produced, the total amount of manufacturing overhead cost is closest to:
Answer:
hope it helps and good luck
Explanation:
$138,000
$138000 is the total amount of manufacturing overhead cost.
Variable Manufacturing Overhead (1.65 x 10000)
= 16500
Fixed Manufacturing Overhead
= 121500
Total Manufacturing Overhead
= 138000
Variable manufacturing overhead per unit and total fixed manufacturing overhead does not change with change in units.
What are overhead charges?Overhead fees are what it costs to run the enterprise, such as hire, coverage, and utilities. Working expenses are required to run the enterprise and can't be avoided. Overhead prices ought to be reviewed frequently for you to boom profitability.
Which is an example of overhead fees?Examples of overhead consist of hire, administrative fees, or employee salaries. Overhead charges may be found on a corporation's income statement, in which they are subtracted from its income to arrive at the net income parent.
Learn more about the overhead cost here https://brainly.com/question/26454135
#SPJ2
Which of the following is true about value-based cultures?a. They emphasize obedience to the rules as the primary responsibility of ethics.b. They are only as strong and as precise as the rules with which workers are expected to comply.c. They reflect the traditional approach of classifying corporate culture.d. These cultures are perceived to be more flexible and far-sighted corporate environments.
Answer:
(D) These cultures are perceived to be more flexible and far-sighted corporate environments.
Explanation:
A corporation that operates as a value-based organization, is a corporation that operates on a culture that was shaped by the members of the organization, from employees to shareholders, and thus tends to be more flexible in how they operate compared to traditional corporation structures. Employees are committed to these types of organizations because they find alignment between their personal values and the values of the organizations, which in turn lead to better overall performance.
In Keynes's liquidity preference theory, what variables determine the demand for real money balances? A. The demand for real money balances depends on the interest rate and net exports. B. The demand for real money balances depends on the inflation rate and aggregate output. C. The demand for real money balances depends on the nominal interest rate and real income. D. The demand for real money balances depends on the inflation rate and real income.
Answer: the correct answer is C. the demand for real money balances depends on the nominal interest rate and real income.
Explanation:
According to Keynes the desire for liquidity or demand for money arises because of three motives:
(a) Transaction motive
(b) Precautionary motive
(c) Speculative motive
The demand for real money balances in Keynes's liquidity preference theory depends on the nominal interest rate and real income, with an increase in either leading to an increased demand for money.
In Keynes's liquidity preference theory, the demand for real money balances is determined by two primary factors: the nominal interest rate and real income or output. This reflects the trade-off between the liquidity that money provides and the higher interest that could be earned on other assets.
When real income increases, individuals and businesses need more money for transactions, hence the demand for real money balances increases. Conversely, as the nominal interest rates rise, the opportunity cost of holding money increases, leading to a decrease in the demand for real money balances as people prefer to hold other assets that yield higher returns.
Therefore, the correct answer to the question is: C. The demand for real money balances depends on the nominal interest rate and real income.
Walter wants to deposit $1,500 into a certificate of deposit at the end of each ofthe next 6 years. The deposits will earn 5 percent compound annual interest. IfWalter follows through with his plan, approximately how much will be in his accountimmediately after the sixth deposit is made?
Answer:
$10,202.87
Explanation:
The balance will be the sum of a 6-term geometric sequence with first term 1500 and common ratio 1.05. The sum of such a sequence is given by ...
sn = a1(r^n -1)/(r -1)
We have a1=1500, r=1.05, n=6, so the sum is ...
s6 = 1500(1.05^6 -1)/(1.05 -1) = 10,202.87
Walter's account balance after the 6th deposit will be $10,202.87.
2. You take $100 you had kept under your mattress and deposit it on your bank account. If this $100 stays in the banking system as reserves and if banks hold reserves equal to 10% of deposits, by how much does the total amount of deposits in the banking system increase? By how much does the money supply increase?
You own a contract that promises an annuity cash flow of $350 year-end cash flows for each of the next 3 years. (Note: The first cash flow is exactly 1 year from today). At an interest rate of 5%, what is the present value of this contract?
at an interest rate of 5%, the present value of the contract would be $953.14
When a market is in equilibrium, the buyers are those with the ________ willingness to pay and the sellers are those with the ________ costs.
Answer:
Highest, Lowest
Explanation:
Over the past 100 years, the level of government regulation of financial institutions and markets has ebbed and flowed or, as some economists might argue, has ebbed and flooded. Although the laws and regulatory agencies created by the government have various defined and not-so-well-defined goals, what, might you argue, is the single biggest benefit of government regulation?
Answer: the resulting trust and confidence in the financial institutions and markets derived by society.
The greatest benefit of government regulation of financial markets is to ensure market stability and integrity by protecting against fraud, enforcing contracts, and preventing market failures.
The single biggest benefit of government regulation might be argued to be the establishment and maintenance of market integrity and stability.
This is accomplished through various agencies like the Securities and Exchange Commission (SEC), which oversees exchanges and OTC markets, and the Federal Deposit Insurance Corporation (FDIC), which insures deposits and monitors financial institutions.
Trio Company reports the following information for the current year, which is its first year of operations. Direct materials $ 14 per unit Direct labor $ 16 per unit Overhead costs for the year Variable overhead $ 67,500 per year Fixed overhead $ 135,000 per year Units produced this year 22,500 units Units sold this year 16,500 units Ending finished goods inventory in units 6,000 units Compute the cost per unit of finished goods using 1) absorption costing and 2) variable costing.Cost per unit of finished goods using: Absorption costing Variable CostingCost per unit of finished goods Determine the cost of ending finished goods inventory using 3) absorption costing and 4) variable costing.Cost per unit of finished goods using: Absorption costing Variable CostingNumber of units in finished goods Total cost of finished goods inventory
Answer:
I will answer all of the parts in this table, look there for each value you are asked for:
ABSORPTION COSTING VARIABLE COSTING
Direct Materials 14 14
Direct Labor 16 16
Variable Overhead 3 3
Fixed Overhead 6 do not include them
Unit Cost 39 33
Ending Inventory (UNITS) 6,000 6,000
Ending Inventory (Dollars) $234,000 98,000
Units Sold 16500 16500
Cost of Goods Sold $643,500 $544,500
Net Income diference 36000
Explanation:
The variable costing Does not consider the fixed cost part of the unit cost, so they are posted entirely in the net income as expenses.
While the Absorption costing does include them in the unit cost, giving a higher unit value.
This diference (include or not the fixed assets) do not alter the ending inventory or the cost of goods sold, and indirectly the net income as long as the production and the sales equals. Once they difer, what it is happening is that some part of the fixed cost, which are expose entirely as expense in the net income under the variable cost, are hidden inside the ending inventory under the absorption cost.
The unit fixed cost times the ending inventory ($6 x 6,000) makes for the diference in both, net income and ending inventory.
As a result the company looks better under absorption cost, because it has better aassets an a net income higher, but behind that is one of reasons for the failure of absorption cost ot represent the reality. Currently, ABC or standart cost are more common because they have ways to handle this diferences and keep record of them.
Sam Robinson borrowed $21,000 from a friend and promised to pay the loan in 10 equal annual installments beginning one year from the date of the loan. Sam’s friend would like to be reimbursed for the time value of money at a 9% annual rate. What is the annual payment Sam must make to pay back his friend?
Final answer:
Sam must make an annual payment of approximately $3,508.40 to pay off a $21,000 loan over 10 years at a 9% interest rate, which can be calculated using the present value of an annuity formula.
Explanation:
To calculate the annual payment Sam must make to pay back his friend at a 9% annual rate, we can use the formula for the present value of an annuity. The loan amount of $21,000 is the present value of the 10 equal annual payments Sam will make in the future. The formula for the present value (PV) of an ordinary annuity is:
PV = PMT ×[tex][(1 - (1 + r)^{-n}) / r][/tex]
Where:
PMT = Annual payment
r = Annual interest rate (expressed as a decimal)
n = Number of payments
Given that the present value PV is $21,000, the annual interest rate r is 9% or 0.09, and the number of payments n is 10, we can rearrange the formula to solve for PMT, which is the annual payment Sam needs to make:
21,000 = PMT × [tex][(1 - (1 + 0.09)^{-10}[/tex]) / 0.09]
So the PMT is:
PMT = 21,000 / [(1 - (1 + 0.09)^{-10}) / 0.09]
Calculating the denominator first:
(1 -[tex](1 + 0.09)^{-10}[/tex]) / 0.09 = 5.9847 (rounded to 4 decimal places)
Now, calculate PMT:
PMT = 21,000 / 5.9847
PMT = $3,508.40
Therefore, Sam's annual payment to his friend to pay off the $21,000 loan over 10 years at 9% interest is approximately $3,508.40.