Answer:
The correct answer is letter "D": the satisfaction that results from the consumption of a good.
Explanation:
Utility is the satisfaction that a person receives from using a good or service. Utility is a very easy concept to understand but very hard to quantify. Economists may, however, indirectly calculate utility based on the economic choices made by consumers.
Discusses four types of perceptual distortions: stereotyping, halo effects, selective perception, and projection. Define each of these and provide an example
Final answer:
Perceptual distortions, such as stereotyping, halo effect, selective perception, and projection, represent biases in how we view others. These distortions can lead to inaccurate judgments based on overgeneralization, positive characteristics influencing unrelated traits, confirmation of preconceived beliefs, and attributing our own characteristics to others.
Explanation:
Perceptual distortions are cognitive biases or errors in the way we perceive others. Four types of perceptual distortions include stereotyping, the halo effect, selective perception, and projection.
Stereotyping
Stereotyping is when an individual assigns attributes to another person based solely on the other person's membership in a certain social or demographic group. An example would be believing all elderly people are poor drivers without considering individual abilities.
Halo Effect
The halo effect occurs when one positive characteristic of a person influences the observer to see other unrelated traits in a positive light. For example, if a teacher finds a student to be good at sports, they might also assume the student is diligent in their studies.
Selective Perception
Selective perception involves filtering information that is inconsistent with our preconceived beliefs and paying attention to information that confirms those beliefs. For example, if you believe that your favorite brand always produces quality products, you might overlook negative reviews.
Projection
Projection is ascribing one's own characteristics, feelings, or beliefs onto other people. When a distrustful person suspects others of being untrustworthy themselves, it is an example of projection.
Analyzing and Determining Liability AmountsFor each of the following situations, indicate the liability amount, if any, that is reported on the balance sheet of Bloomington Inc. at December 31, 2016.Next to each situation, enter the liability amount reported on Bloomington's balance sheet. If the amount is not reported as a liability, enter zero as your answer.a. Bloomington owes $230,000 at year-end 2016 for inventory purchase. b. Bloomington agreed to purchase a $29,000 drill press in January 2017. c. During November and December of 2016, Bloomington sold products to a customer and warranted them against product failure for 90 days. Estimated costs of honoring this 90-day warranty during 2017 are $4,100. d. Bloomington provides a profit-sharing bonus for its executive equal to 5% of reported pretax annual income. The estimated pretax income for 2016 is $850,000. Bonuses are not paid until January of the following year.
Answer:
(a) It is a liability for Bloomington to pay for the inventory purchase and it is recorded with the amount of $230,000.
(b) It is not a liability for Bloomington because the press is not yet purchased and agreed to be purchased in future. So, the liability is $0.
(c) In case, there is any discrepancy in the products then it is the responsibility of Bloomington to provide some solution. Therefore, the estimated warranted liability is $4,100 and the amount of liability recorded in the balance sheet is $4,100.
(d) The amount of liability recorded in the balance sheet is as follows:
Bonds payable:
= Estimated pretax income × Profit-sharing bonus
= $850,000 × 5%
= $42,500
Final answer:
The liability amounts to be reported on Bloomington Inc.'s balance sheet for the specified situations are $230,000 for inventory purchase, $0 for future purchase of a drill press, $4,100 for warranty costs, and $42,500 for profit-sharing bonuses.
Explanation:
For each of the provided situations for Bloomington Inc., the corresponding liability amount that should be reported on the balance sheet at December 31, 2016, would be as follows:
a. $230,000 for the year-end inventory purchase, as it represents an obligation to pay.
b. $0, because the commitment to purchase the drill press in January 2017 has not yet resulted in a liability as of December 31, 2016.
c. $4,100 for the estimated costs of the warranty that will be honored in 2017, as it reflects a present obligation resulting from past events.
d. $42,500 for the profit-sharing bonus (5% of $850,000), because even though the bonus is not paid until the following year, the obligation exists at the year-end.
These figures should be included in their respective categories on Bloomington Inc.'s balance sheet—either within accounts payable, accrued expenses, or other relevant payable accounts.
8. Katie pays $10,000 in tax-deductible property taxes. Katie’s marginal tax rate is 32%, average tax rate is 28%, and effective tax rate is 25%. Katie's tax savings from paying the property tax is
Answer:
The Tax savings for the property tax is 3200 USD.
Explanation:
As Katie paid property taxes as $10000 in tax-deductible property taxes. In calculation of this the marginal tax rate is used in calculation. Thus
[tex]Tax_{savings}=Tax_{Marginal-rate} \times Amount paid\\Tax_{savings}=32\% \times 10,000\\Tax_{savings}=\frac{32}{100} \times 10,000\\Tax_{savings}= \$ \, 3200\\[/tex]
So the Tax savings for the property tax is 3200 USD.
A computer rework center has the capacity to rework 300 computers per day. The expected number of computers needing to be reworked per day is 225. The center is paid $26 for each computer reworked. The fixed cost of renting the reworking equipment is $250 per day. Work space rents for $150 per day. The cost of material is $18 per computer and labor costs $3 per computer. What is the break-even number of computers reworked per day
Answer: 80 computers per day
Explanation:
In calculating the break-even point, it important to consider two types of costs. There are fixed costs, costs that don´t change no matter what happens with demand (in this case computers to be fixed), and variable costs, that varies depending on the demand.
Fixed costs:
Equipment Rent: 250
Space Rent: 150
Variable Costs:
Material per computer: 18
Labor per computer: 3
We have to pay $400 no matter what, and more depending on how many pcs are fixed. Now it’s a matter of calculating how many pcs are necessary to pay for that fixed costs and the variable costs that will come with it.
If there were no variable costs, the break-even point would be 16 pcs [16*26=416] (a little more than 15 but u can’t fix half of a pc lol).
However, knowing that the cost per pc is $21, we realize that we earn only $5 per pc. And how many $5 there are in $400? 80 pcs!
Phew! Let’s recap:
80 pcs fixed: $2080 revenue
Variable Cost: 21*80 = $1680
Fixed Cost: $400
2080 – 1680 – 400 = 0. Break-even!
As a side note: in this case, the center capacity is irrelevant because we can break-even well beneath the limit. However, in order to maximize profits, it would be a important data to work with.
Fatima is struggling in her job and is experiencing increased dissatisfaction. She related to you that her manager has been unfair to her because her manager gave a promotion to a coworker who deserved it less than she did. She has also said on numerous occasions that she does not like her manager. Just yesterday, Fatima shared with you that she intends to continue in her job. You have also been hearing from several other coworkers that she is complaining about her manager to anyone who will listen. Fatima's statement that she intends to continue in her job in spite of her dissatisfaction makes you think that Fatima will likely experience _______________.a. The cognitive component of her attitude about her managerb. The evaluation component of her attitude about her managerc. The affective component of her attitude about her managerd. Cognitive dissonancee. The behavioral component of her attitude about her manager.
Answer:
Cognitive dissonance
Explanation:
Cognitive dissonance is a psychological notion when an individual experiences thoughts and emotions that are not consistent (no matter the environment). In this example, it was expected from Fatima to quit her job (since she hated the manager). In spite of that, she continued to work. That caused the cognitive dissonance in her behavior, as she changed her attitude.
You are trying to determine how much money to save (invest) each year in your 401(k) Plan to fund your retirement in order to pay yourself 70% of your final salary each year (that increases with inflation).
Answer:
the money you will invest per year to fund 70% of your salary after retirement is given by,
[tex]\frac{401000}{100}[/tex] X 70%=280 700.
Explanation:
you will need to save 280 700 in order to pay yourself 70% of 401 000.
since percentage is by 100, you will divide the salary by 100 and multiply the result by the new percentage.
At the start of the strategy-making process, a company's senior managers must struggle with the issue of what directional path the company should take and whether its market positioning and future performance prospects could be improved by changing the company’s product offerings,
Answer:
Engaging the company in one way against another pushes all managers to draw some reasoned conclusions about how to modify the company's commercial disposition and the market position that it should rethink. For this it is necessary to take into account factors that shape the management when deciding where to go the company and why that address makes business sense.
Explanation:
The points of view and conclusions taken by senior management on the direction of the company and the future focus of the product/market/customer/technology make up a strategic vision for the company. The strategic vision traces management's aspirations for your business, offering a panoramic view. Therefore, a strategic vision supports an organization in a particular direction, draws a strategic path and shapes the organizational identity of the company
Many factors have an impact on the definition of the marketing research problem.These factors encompass the environmental context of the problem. Which of thefollowing is notone of the factors?
a.marketing and technological skills
b.objectives
c.past information and forecasts
d.political environment
Answer:
The correct answer is letter "D": political environment.
Explanation:
The marketing research problem intends to collect the most quantity of information possible about consumers to find out how effective is the current advertising campaign of a company. The marketing research problem mainly focuses on the interaction between an organization and its customers in front of issues such as loss of market share.
All those interactions that involve analyzing the market as a whole, such as the introduction of products in a foreign region, or the impact of politics in the market involve talking about the management decision problem.
Final answer:
Political environment is not a direct factor in the definition of a marketing research problem, although it influences broader market conditions. Environmental factors like marketing skills, objectives, and past information are crucial when defining research problems.
Explanation:
When defining the marketing research problem, it is essential to consider various environmental factors that can impact the feasibility and scope of the research. Some of these factors include marketing and technological skills, objectives of the research, past information and forecasts, as well as socio-political contexts. However, political environment as a standalone factor is typically not directly involved in the formulation of a marketing research problem, whereas it may generally influence the broader market conditions.
Understanding environmental context such as social, economic, and technological factors can greatly assist in recognizing the background and setting within which a marketing problem exists. Moreover, conducting preliminary investigations and relying on existing information can provide valuable insights and help in defining a precise and relevant research question. Option D
Which one of the following items is most likely to be reported as goodwill? A. In-process research and development B. Brand names C. Developed technology D. Skilled workforce
Answer:
The correct answer is letter "D": Skilled workforce.
Explanation:
Goodwill refers to the value of an intangible asset found on a company's Balance Sheet. A company's brand recognition, intellectual property, skilled workforce, and reputation among its customers and employees can all count towards its goodwill value. When a company is acquired for a higher price than its book value, the excess value of the target company is recorded under a Balance Sheet goodwill.
This past year inflation in Snowdonia has increased to 150%. As an economic analyst, you are charged with identifying those sectors of the population worst affected by this inflation event. Which group of people is likely to be worst affected by inflation?
A. pensioners drawing from a "defined contribution" retirement plan
B. disabled veterans living on fixed (non-adjustable) government transfer payments
C. homeowners with a 30 year fixed mortgage
Answer:
The answer is A.
Explanation:
Sailmaster makes high-performance sails for competitive windsurfers. Below is information about the inputs and outputs for one model, the Windy 2000. Units sold 1,214 Sale price each $ 1,697 Total labor hours 46,675 Wage rate $ 11 /hour Total materials $ 60,100 Total energy $ 4,110
The question pertains to cost and revenue calculation in a business context using Sailmaster as an example. We calculate the total cost by adding labor, material, and energy costs. The total revenue is computed by multiplying the units sold by the sale price per unit.
The subject of this question is business, specifically it relates to cost and revenue calculation in a business setting. In this case, Sailmaster, a company that manufactures high-performance sails is taken as an example.
To answer your question directly, the total cost involves labor cost, material cost and energy cost. Total labor cost could be calculated by multiplying the total labor hours with the wage rate. Therefore, total labor cost equals 46,675 hours * $11/hour, which amounts to $513,425. The total material cost is given as $60,100 and total energy cost is $4,110. Adding all these costs together, we get a total cost of $577,635.
Further, the total revenue could be computed by multiplying the units sold by the sale price per unit. Therefore, total revenue equals 1,214 units * $1,697/unit, which would result in a total revenue of $2,059,538. Now, by subtracting total cost from the total revenue, we can calculate profit or loss.
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Two years ago, you invested $3,000.00. Today, it is worth $3,750.00. What rate of interest did you earn?
The annual interest rate is 11.803%.
Assumptions:
- Interest is compounded annually.
Vasco's utility function is: Upper U equals 10 Upper X squared Upper ZU = 10X2Z The price of X is px = $55, the price of Z is pz = $2020, and his income is $150150. What is his optimal bundle? (round your answer to two decimal places)
Answer:
Explanation:
U = 10 X²Z
Given
150 = 5X + 20Z
30 = X + 4Z
To maximise utility
differentiating partially wrt X
MU_x = dU/ dX = 20XZ
differentiating partially wrt Y
MU_y = dU/dY = 10X²
For optimal bundle
MU_x / MU_y = P_x / P_y
20XZ / 10X² = 5 / 20
2Z / X = 1/4
X = 8Z
30 = X + 4Z
30 = 8Z + 4Z
12Z = 30
Z = 2.5
X = 8 X 2.5
= 20
X = 20
Z = 2.5
Currently, at a price of $1 each, 100 popsicles are sold per day in the perpetually hot town of Rostin. Consider the elasticity of supply. In the short run, a price increase from $1 to $2 is unit-elastic (Es = 1.0). In the long run, a price increase from $1 to $2 has an elasticity of supply of 1.50. (Hint: Apply the midpoints approach to the elasticity of supply.)
a. So how many popsicles will be sold per day in the long run if the price rises to $2 each?
Answer:
a. 300 Popsicle will be sold per day in the long run.
Explanation:
When the price of goods changes the demand and supply also changes. The elasticity of supply is % change in quantity supplied / % change in price.
The price elasticity in the long run will be more and lesser in the short run. If the price of Popsicle increases from $1 to $2 in the long run and the price elasticity is 1.5 in the long run then the quantity of Popsicle sold will be 300 per day. This is calculated as
= Price elasticity in long run * increased price in the long run * quantity sold per day.
= 1.5 * $2 * 100 Popsicle
= 300 Popsicle's.
If the price of popsicles increases to $2 in the long run, 250 popsicles will be sold per day due to an elasticity of supply of 1.50.
Explanation:The elasticity of supply (Es) is a measure of how the quantity supplied changes in response to a price change. Here, in the long run, the elasticity of supply is 1.50, meaning that if the price increases by 1%, the quantity supplied will increase by 1.5%. When the price rises from $1 to $2, that is a 100% increase. So, if Es=1.50, the quantity supplied will increase by 100% * 1.5 = 150%. Since the current sales are 100 popsicles per day, with a 150% increase, the quantity supplied in the long run will be 100 + (150/100)*100 = 250 popsicles per day. Therefore, if the price rises to $2 each, 250 popsicles will be sold per day in the long run.
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Because email, chat, and text messages are less formal methods of communication, good technical writing skills are less important for these messages.
O True
O False
It is false, it really depends on the situation
In January 2017, Domingo, Inc., acquired 20 percent of the outstanding common stock of Martes, Inc., for $889,000. This investment gave Domingo the ability to exercise significant influence over Martes, whose balance sheet on that date showed total assets of $4,808,000 with liabilities of $968,000. Any excess of cost over book value of the investment was attributed to a patent having a remaining useful life of 10 years. In 2017, Martes reported net income of $225,000. In 2018, Martes reported net income of $276,250. Dividends of $104,000 were declared in each of these two years. What is the equity method balance of Domingo’s Investment in Martes, Inc., at December 31, 2018?
Answer:
$923,450
Explanation:
The question is to calculate the equity method balance of Domingo's investment in Martes. Inc at December 31,2015
Step 1: Determine the amortization of patents
Particulars Amount
Martes Inc Assets' Book Value $4,808,000
Subtract: Liabilities ($968,000)
Martes Inc Net Assets Book Value $3,840,000
20% Voting Stock Book Value $768,000
(20% of $3,840,000)
Subtract: Purchase cost of the 20% ($889,000)
Excess of Cost over book value $121,000
Patent (the excess above) $121,000
Amortization of the patent in 10 years = $121,000/10 years = $12,100
Step 2: Calculate the Equity Investment of Domingo Inc
Particulars Amount
Cost of Investment $889,000
Income accrued 2017 (0.2 x $225,000) $45,000
Subtract: Declared dividend (0.2 x $104,000) ($20,800)
Income Accrued 2018 (0.2 x $276,250) $55,250
Subtract: Patent Amortization ($12,100)
Subtract: Dividend declared 2018 (0.2 x $104,000) ($20,800)
Subtract: Patent Amortization ($12,100)
Domingo Inc's Investment in Martes Inc $923,450
You have two options to repay a loan. You can repay $6,000 now and $5,940 in one year; or you can repay $12,000 in 6 months. Find the annual effective interest rate(s) i at which both options have the same present value.
Answer:
We will consider positive interest rate which is i=0.21 or i=21%
Explanation:
The formula for Future value is:
[tex]FV=PV(1+i)^n[/tex]
The present value will become:
[tex]PV=FV(1+i)^{-n}[/tex]
where:
n is the number of years
Since the condition is same present value,so the given data form the equation:
[tex]6000+5940(1+i)^{-1}=12000(1+i)^{-1/2}[/tex]
Divide above equation by [tex](1+i)^{-1}[/tex]
[tex]6000(1+i)+5940=12000(1+i)^{1/2}[/tex]
Let [tex]z=(1+i)^{1/2}\\[/tex]. Above equation will become:
[tex]6000z^2+5940=12000z[/tex]
Rearranging above equation:
[tex]5940-12000z+6000z^2=0[/tex]
Solving the quadratic equation:
z=1.1, z=0.9
Let [tex]z=(1+i)^{1/2}\\[/tex] will become:
[tex]z=(1+i)^{1/2}\\\\z^2=1+i[/tex]
[tex]i=z^2-1[/tex]
For z=1.1
[tex]i=(1.1)^2-1\\i=0.21[/tex]
For z=0.9
[tex]i=(0.9)^2-1\\i=-0.19[/tex]
we will consider positive interest rate which is i=0.21 or i=21%
Retained earnings a.over time will have a direct relationship with the amount of cash on hand if the corporation is profitable. b.cannot have a debit balance. c.is the cumulative total of net income plus dividends. d.is the cumulative total of net income, minus net losses, and minus dividends.
Answer:
d.is the cumulative total of net income, minus net losses, and minus dividends.
Explanation:
As we know that
The stockholder equity statement involves the common stock and the retained earnings statement
It is prepared to find out the ending balance of common stock and the retained earning that is shown below:
The ending balance of retained earning = Beginning balance of retained earnings + net income or minus net loss - dividend paid
And, the ending balance of the common stock = Beginning balance of common stock + issuance of the shares
According to the Census Bureau, in October 2016, the average house price in the United States was $27,258. 6 years earlier, the average price was $20,608. What was the annual increase in the price of the average house sold?
Answer:
Annual increase is $1,108.4
Explanation:
In 2016, average price was $27,258.6
In 2010, average price was $20,608
Average increase in 6 years = $27,258.6 - $20,608 = $6,650.6
Annual average increase = $6650.6/6 = $1,108.4
"The financial leverage multiplier is the ratio of" ________. A. current assets to current liabilities B. total assets to total debt C. current assets to common stockholders' equity D. total assets to common stockholders' equity
Answer:
D. total assets to common stockholders' equity
Explanation:
The financial leverage multiplier (FLM) is defined as the ratio of the firm’s total assets to the shareholders’ equity.
Analyzing the answer choices provided, the one that better fits the description above is alternative D. total assets to common stockholders' equity
There are many misunderstandings about the business cycle and how it can impact an economy. Determine if each of the given statements are true or false.
1. Business cycles can be described as fluctuations from the economy's long-term growth trend.
2. The four phases of business cycles are peaks, troughs, expansions, and recessions.
3. Business cycles are common in emerging economies but not in developed economies.
4. When a business cycle reaches the trough, the economy is usually operating at its capacity.
5. The peak of a business cycle is followed by a downturn or recession.
6. Business cycles last for followed by a downturn or recession approximately nine months.
Answer:
1. True
2. True
3. False
4.False
5.True
6.False
Explanation:
1. Business Cycles are basically due to country's economic growth trends. When a country's economy is prospering then the Business Cycle will be in a expansion category.
2. There are four phases of business cycle in an economy. Peaks, Troughs, Expansions and Recession. Expansion stage is characterized as when the economy is a country is growing, country is in a developing stage and employment increases.
3. Business cycles are for every country. Even the developed countries face Business Cycle fluctuations due to Ups and Downs in an economic condition.
4. It is usually not true that the economy is operating at its capacity when it faces troughs in a Business Cycle. Trough is a stage where there is minimum of investment in a country, unemployment is increased, growth is business is near to zero and decline in business activities.
5. When an economy reaches to peak in a Business Cycle it then follows it cycle and enter into a recession or a downturn. At peak when there is end of expansion in a business it starts contacting and recession happens in a Business Cycle.
6. Business Cycle may last for a few months or a year but it is not necessary that each Business Cycle lasts for exactly nine month. It can be lower or greater depending on the economic conditions of a country.
Final answer:
Business cycles consist of four phases—expansion, peak, contraction, and trough—and occur in all economies. A peak is followed by a downturn, and the trough signifies the lowest economic activity, not operating at full capacity. Business cycles do not have a fixed duration.
Explanation:
True or false: Business cycles can be described as fluctuations from the economy's long-term growth trend. This statement is True. Business cycles represent the short-term variations in economic activity relative to a long-term growth pattern.
True or false: The four phases of business cycles are peaks, troughs, expansions, and recessions. This statement is True. These are the commonly accepted four phases of the business cycle, each with distinct characteristics and economic impacts.
True or false: Business cycles are common in emerging economies but not in developed economies. This statement is False. Business cycles occur in all types of economies, regardless of their development status.
True or false: When a business cycle reaches the trough, the economy is usually operating at its capacity. This statement is False. The trough represents the lowest point in the business cycle, where economic activity is typically at its lowest, not its capacity.
True or false: The peak of a business cycle is followed by a downturn or recession. This statement is True. The peak is the highest point of the business cycle, after which economic activity generally declines, leading to a recession.
True or false: Business cycles last for approximately nine months. This statement is False. The duration of business cycles can vary greatly and is not limited to a specific time frame.
Michelle Sargol offers to pay $9,000 for a particular car located on John Weber’s car lot. Weber accepts Sargol’s offer and promises to transfer title next week, at which time Sargol will pay for the car. The next day, Laura Kavanaugh visits the car lot and offers to pay Weber $10,000 for the same car. Can Weber accept Kavanaugh's offer?
An offer is considered as a agreement between sender and receiver. Here, Sargol offers to pay $9,000 amount for a car to weber.
Weber can accept Laura's offer since there is no binding contract with Michelle.When a contract is being formed there are 3 stages. First there has to be an offer made by the offeror, there will be an acceptance by the offeree, and finally a binding contract will be made.
Therefore, Weber can accept Kavanaugh's offer to pay $10,000.
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Which of the following statements regarding conducting marketing research in a foreign country is correct? A. Good secondary data is easy to find in most foreign markets. B. Consumers in foreign markets generally enjoy participating in marketing research. C. Reaching respondents in other parts of the world is more difficult than it is in the United States. D. Globalization has slowed down, so international research is no longer necessary. E. Language translation will be easy.
Answer: B. Consumers in foreign markets generally enjoy participating in marketing research.
Explanation: Consumers in foreign countries are accessible because there are currently many ways to address them, for example a company that sells clothes that wants to sell clothes in other markets and need to do a market research on a specific product, can use the large companies such as social networks or e-mail marketing to be able to offer the products or obtain the result of the research they are conducting.
The correct statement about conducting marketing research in a foreign country is option c. that reaching respondents is more difficult than in the United States. Obtaining good secondary data and consumer willingness to participate in research are also major challenges.
This is due to several factors:
Good secondary data is challenging to obtain in most foreign markets.Consumers in foreign markets might not always enjoy participating in marketing research, due to cultural differences or distrust in multinational companies, especially in developing markets.Language translation is often complex, as it involves not just direct translation but also cultural nuances.While there is a wealth of economic and demographic data available, obtaining reliable and specific consumer data is difficult and costly. Companies often struggle to gather accurate information about local market conditions, consumer preferences, and effective communication methods.
Keith manages a team of fifteen developers in a software company. He is known to be open tonew ideas from everyone. He considers the various perspectives with patience and a positiveattitude. Keith’s approach is _____.
a.politically correct
b.nonjudgmental
c.risk-aversive
d.non-conflicting
e.multilateral
Answer:
e. multilateral
Explanation:
A multilateral approach is when there is combined participation of team members in achieving goals. Keith is open to various ideas and perspectives, considering them in making decisions.
In this approach each team member will feel valued and will be able to provide useful input in the team's activities.
Answer:
Multilateral
Explanation:
Multilateral
The meaning of mulitilateral is multi-sided. Keith's approach being multilateral simple means as its said that he is open to new ideas from everyone. This is already a multi-team, so the participation of the 15 team member of developers is a multi dimensional effort to solving problems. Keith considering all perspectives and ideas makes it multifaceted. He sure will be able to take proper and correct decisions
Households: a. are the largest purchasers of resources. b. supply goods and services. c. play a very minor role in an economy. d. set the price for goods. e. own and sell resources.
Answer:D
Explanation:
Jan. 2 Stockholders invested $15,000 cash in the business in exchange for common stock. 3 Purchased used car for $8,200 cash for use in the business. 9 Purchased supplies on account for $500. 11 Billed customers $1,800 for services performed. 16 Paid $200 cash for advertising. 20 Received $780 cash from customers billed on January 11. 23 Paid creditor $300 cash on balance owed. 28 Declared and paid a $500 cash dividend. For each transaction indicate the following. (a) The basic type of account debited and credited (Asset, Liability, Stockholders’ Equity). (b) The specific account debited and credited (Cash, Rent Expense, Service Revenue, etc.). (c) Whether the specific account is increased or decreased. (d) The normal balance of the specific account.
Explanation:
The categorization is presented below:
For debited accounts
Transaction date Basic Type Specific account Effect Normal balance
Jan.2 Asset Cash Increase $15,000
Jan.3 Asset Car used Increase $8,200
Jan.9 Asset Supplies Increase $500
Jan.11 Asset Account receivable Increase $1,800
Jan.16 Expense Advertisement Increase $200
Jan.20 Asset Cash Increase $7,380
Jan.23 Liability Account payable Decrease $200
Jan.28 Asset Retained earnings Decrease $500
Jan.28 Liability Dividend payable Decrease $500
For credited accounts
Transaction date Basic Type Specific account Effect Normal balance
Jan.2 Asset Common stock Increase $15,000
Jan.3 Asset Cash Decrease $6,800
Jan.9 Asset Account payable Increase $500
Jan.11 Asset Service revenue Increase $1,800
Jan.16 Expense Cash Decrease $6,600
Jan.20 Asset Account receivable Decrease $1,020
Jan.23 Liability Cash Decrease $7,080
Jan.28 Asset Dividend payable Increase $500
Jan.28 Liability Cash Decrease $6,580
We determining the balances by adding the received or that transactions which increases the balance and deduct the paid amount or that transactions which decreases the balance
The provided explanation details the type of account (Asset, Liability, Stockholders’ Equity), the specific account (Cash, Rent Expense, Service Revenue, etc.), whether the specific account is increased or decreased, and the normal balance for each given transaction on the specified dates in January.
Below is the required information for each transaction:
Jan. 2: (a) Asset, Stockholders’ Equity (b) Cash, Common Stock (c) Cash is increased, Common Stock is increased (d) Debit (Cash), Credit (Common Stock).Jan. 3: (a) Asset (b) Cash, Automobile (c) Cash is decreased, Automobile is increased (d) Debit (Automobile), Credit (Cash).Jan. 9: (a) Asset, Liability (b) Supplies, Accounts Payable (c) Supplies is increased, Accounts Payable is increased (d) Debit (Supplies), Credit (Accounts Payable).Jan. 11: (a) Asset, Stockholders’ Equity (b) Accounts Receivable, Service Revenue (c) Accounts Receivable is increased, Service Revenue is increased (d) Debit (Accounts Receivable), Credit (Service Revenue).Jan. 16: (a) Asset, Stockholders’ Equity (b) Advertising Expense, Cash (c) Advertising Expense is increased, Cash is decreased (d) Debit (Advertising Expense), Credit (Cash).Jan. 20: (a) Asset (b) Cash, Accounts Receivable (c) Cash is increased, Accounts Receivable is decreased (d) Debit (Cash), Credit (Accounts Receivable).Jan. 23: (a) Liability, Asset (b) Accounts Payable, Cash (c) Accounts Payable is decreased, Cash is decreased (d) Debit (Accounts Payable), Credit (Cash).Jan. 28: (a) Stockholders’ Equity, Asset (b) Dividends, Cash (c) Dividends is increased, Cash is decreased (d) Debit (Dividends), Credit (Cash).Learn more about Accounting Transactions here:https://brainly.com/question/34190871
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The cost of negative externalities that harm the environment, such as pollution costs:
a. cause GDP to underestimate true welfare in the economy.
b. are not included in GDP.
c. cause GDP to decline, but by only the cost of cleanup.
d. negatively affect the level of GDP by the full amount of the damage.
Answer:
a. cause GDP to underestimate true welfare in the economy.
Explanation:
GDP is the total value of goods & services produced by an economy during a period of time.
Externalities are extra harm or benefit to un-involved parties, without any monetary exchange for the same.
Extra benefit to other parties are Positive Externalities, Eg - Education benefit trickling down to society. Extra harm to other parties are Negative Externalities, Eg - Pollution harming society.
GDP i.e Flow of goods & services is only a measure of material welfare, because it ignores qualitative welfare elements like externalities.
Negative Externalities are harm to people's welfare, without monetary exchange. So, this makes GDP as an under estimated measure of welfare.
A corporation has 40,000 shares of $25 par value stock outstanding. If the corporation issues a 3-for-1 stock split, the number of shares outstanding after the split will be a.10,000 shares. b.40,000 shares. c.160,000 shares. d.120,000 shares.
Answer:
d. 120,000 shares.
Explanation:
In a stock split, the current number of shares outstanding is multiplied by the rate of the split and its par value is divided by the rate of the split.
In a 3-for-1 stock split with 40,000 shares outstanding originally, the new number of shares outstanding is:
[tex]n=40,000*3 =120,000\ shares[/tex]
There are 120,000 shares outstanding after the split.
On September 1, 2021, Hiker Shoes issued a $108,000, 8-month, noninterest-bearing note. The loan was made by Second Commercial Bank where the stated discount rate is 10%. Hiker's effective interest rate on this loan (rounded) is: (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
Answer:
effective interest rate = 4.75 %
Explanation:
given data
principal = $108,000
time = 8 months = [tex]\frac{8}{12}[/tex] year
rate = 10%
solution
we get here first interest that is
interest = principal × rate × time .................1
put here value
interest = $108,000 × 10% × [tex]\frac{8}{12}[/tex]
interest = $7200
so here effective interest rate will be here as
effective interest rate = [tex]\frac{interest}{principal- interest}[/tex] × time ...........2
put here value
effective interest rate = [tex]\frac{7200}{108000-7200}[/tex] × [tex]\frac{8}{12}[/tex]
effective interest rate = 0.04761
effective interest rate = 4.75 %
How much must you invest now in a savings account that earns 11.5% per year if you would like to have $2500 in 7 years?
Answer:
$1,166.85
Explanation:
We use the PV function that is presented in the attachment. Kindly find the attachment below:
Mentioned that
Future value = $2,500
Time period or NPER = $2,500
Rate of interest = 11.5%
PMT = $0
Now the formula which is used is shown below:
= -PV(Rate;NPER;PMT;FV;type)
After solving this, the answer is $1,166.85