Answer: b. debit of $7,000 to Notes Receivable.
Explanation:
James Company received a Note Receivable of $7,000 from Peter Long to settle the Receivable account so Notes Receivable will increase. As it is an asset, it will be debited when it increases so Note Receivable has to be debited $7,000.
Accounts Receivable will be credited with the same $7,000 indicate that the Receivables account has been settled by the Note.
The entry would include debit of $7,000 to Notes Receivable.
Here, James Company received a Note Receivable of $7,000 from Peter Long to settle the Receivable account, hence, the Notes Receivable will increase.
Since the Notes Receivable is an asset, it will be debited when it increases, thus, Note Receivable has to be debited with the amount of $7,000.
However, the Accounts Receivable will be credited with $7,000 to show that the Receivables account has been settled by the Note.
Hence, the Option B is correct because the entry by Jaymes Company on January 15, 2016 would include debit of $7,000 to Notes Receivable.
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A stock is currently selling for $50. The stock price could go up by 10 percent or fall by 5 percent each month. The monthly risk-free interest rate is 1 percent. Calculate the price of an American put option on the stock with an exercise price of $55 and a maturity of two months. (Use the two-stage binomial method.)
a. $5.10
b. $3.96
c. $4.78
d. $1.19
Answer:
$5.10
Explanation:
where interest rate = monthly rate*10 = 1*12 = 12%
Time period t in years = 1/no. of months in a year = 1/12 = 0.8333
50 = [55(x) + 47.5(1-x)]/(1.01) ; x = 0.4; 1-x = 0.6Payoffs at the end of month-2: $10.5; $2.25 ; and zero; [Exercise price = $50]End of one month values: [(10.5)(0.4) + 2.25(0.6)]/1.01 = 5.495 and [2.25(0.4) + 0]/1.01 = 0.891Price of the call option = [5.495(0.4) + (0.891)(0.6)]/1.01 = 2.71
A department store has budgeted sales of 12,000 men's coats in September. Management wants to have 6,000 coats in inventory at the end of the month to prepare for the winter season. Beginning inventory for September is expected to be 4,000 coats. What is the dollar amount of the purchase of suits if each coat has a cost of $75? Each suit has a cost of $75.
Answer: $1,050,000
Explanation:
The dollar amount of the purchase of suits if each coat has a cost of $75 can. Be calculated as thus:
Budgeted sales = 12000
Add: sales inventory = 6000
Less: September beginning inventory = 4000
Required purchase for September will now be:
= 12000 + 6000 - 4000
= 14000
The dollar amount will be:
= 14000 × $75
= $1,050,000
a community hospital in pennsylvania has a 15% supply expense ratio. If total operating expenses are $1 million this month, what is the total annual cost of supplies
Answer:
$150,000
Explanation:
The question says that the total operating expenses of the hospital is 1 million, while also saying that it has a supply expense ratio of 15%. An expense ratio can be by dividing a fund's total operating expenses it's average dollar value of its assets under it's management. This is what gave us the 15% we got in the question. Now, to get the total supply cost in dollars (not percentage), all we is multiply the percentage by the total cost we were given. Thus,
Total annual cost of supply =
15% * 1,000,000 =
15/100 * 1,000,000 =
$150,000.
Therefore, the total annual cost of supply is $150,000
A personal characteristic that fosters organizational politics is a) the desire to help. b) need for power. c) drive to be a vision-holder. d) requirement for participation. e) tendency to need to socialize
Answer: b) need for power.
Explanation:
Organizational politics are activities that people engage in to be able to further their personal interests even if these interests are not always in the best interest of the company itself.
To be able to further their interests, they need power and influence which means that the personal characteristic that fosters organizational politics is the need to have power.
A company purchases inventory on account for $45,000 with terms 2/10, n/30. Under the net method of accounting for purchases, the purchase would be recorded at:_______
a. $36,000.
b. $40,500.
c. $45,000.
d. $44,100.
Answer:d. $44,100.
Explanation:
The net method is a way a company or firm records its customer's invoice. Under the net method of Accounting for purchases, The record of purchases are recorded considering the cash discount.
Therefore
Purchase price = $45000
Cash Discount at terms 2/10 n/30
$45000 x 2% = $45,000 x 0.02 =$900
Net purchase price = $45000 - $900 = $44,100.
The journal to record the inventory purchased on account using the net method will be
Accounts Titles Debit Credit
Inventory $44,100.
Accounts payable $44,100.
________ products have a product life cycle that reflects benefits that are readily understood by consumers,and because the products are easily imitated by competitors,the appropriate marketing strategy is to broaden distribution quickly.
Answer:
Low-learning products
Explanation:
Low learning products are those that are easily accepted and understood by the general public, i.e. they do not require consumer education. These types of products are generally convenience goods, e.g. potato chips, detergent, etc.
On the other hand, high learning products required that consumers receive a prior education process before the general public begins to purchase them, e.g. Blu-rays in the 2000s.
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Select the correct answer.
Which factor is critical to the successful implementation of IS?
A person is considered an entrepreneur because she?
A person is considered an entrepreneur because she combined resources to create new products. Thus, option (c) is correct.
A person who starts a new firm, taking on the majority of the risks and reaping the majority of the gains, is an entrepreneur. Entrepreneurship is the practice of starting a business.
Every economy requires entrepreneurs because they have the knowledge and drive to foresee demands and promote novel ideas. Entrepreneurship that succeeds in assuming the risks involved in founding a firm is rewarded with earnings and expansion possibilities.
Therefore, option (c) is correct.
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During 2017, Sunland Company reported cash provided by operations of $762000, cash used in investing of $659000, and cash used in financing of $182000. In addition, cash spent for fixed assets during the period was $265000. Average current liabilities were $624000 and average total liabilities were $1647000. No dividends were paid. Based on this information, what was Sunland free cash flow?
Answer:
the free cash flow is $497,000
Explanation:
The computation of the free cash flow is shown below:
Free cash flow is
= cash flow from operating activities - capital expenditure
= $762,000 - $265,000
= $497,000
Hence, the free cash flow is $497,000
We simply applied the above formula so that the correct value could come
And, the same is to be considered
Urgent Corporation had earnings per share of $4 last year, and it paid a $2 dividend.
Total retained earnings increased by $12 million during the year, and book value per
share at year-end were $40. Urgent Corporation has no preferred stock, and no new
common stock was issued during the year. If Argent’s year-end debt (which equals its
total liabilities) was $120 million, what was the company’s year-end debt/assets ratio?
Your storage firm has been offered 100,000 in one year to store some goods for one year. Assume your costs are $95,000, payable immediately, are the cost of capital is 8%. Should you take the contract?
Answer:
We should not take the contract
Explanation:
Net present value = Initial investment + Present value of cash inflows
Net present value = -95000 + 100000/1.08
Net present value = -2407.41
Thus, the contract should not be taken because the NPV is negative
Which of the statements are true of an entrepreneur? Check all that apply.
A) An entrepreneur faces huge risks if things do not go well for the business.
B) An entrepreneur is usually an inventor.
C) An entrepreneur operates a business.
D) Being an entrepreneur is not a risky endeavor.
E) An entrepreneur does not have a say over what goods and services his or her company produces.
Answer:
A and C are true. Happu thanksgiving
An entrepreneur is a person who operates a business and faces huge risks if things do not go well for the business.
What is an entrepreneur?An individual who bears the risk of starting a new business is known as an entrepreneur.
An entrepreneur is the one who is going to initiate, organize, perceive and manage an enterprise. He bears all the risks and uncertainties associated with the setting up, running, and outcome of the enterprise.
Therefore, A and C are the correct options.
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What factors under the control of owners and managers make a firm successful and allow it to earn economic profits?
Owners and managers control some of the factors that make a firm successful such as:______.
A, The goverment's ability to promote economic growth
B. Sheer chance
C. The role foreign oil plays in determining transportation costs
D. The firm's ability to produce at an average cost above the minimum long - run average cost
E. The firm's ability to differentiate its product
Answer: E. The firm's ability to differentiate its product
Explanation:
The factor under the control of owners and managers that make a firm successful and allow it to earn economic profits is the firm's ability to differentiate its product.
Product Differentiation has to do with making a product unique from that of its rivals so that it'll be attractive to the customers and the target market. This will slow be vital for the company to produce at a average cost that is lower than that of its competing firms. This will help the company to have a competitive edge over others.
Walton Inc., makes an unassembled product that it currently sells for $55. Production costs are $20. Walton isconsidering assembling the product and selling it for $68. The cost to assemble the product is estimated at $12.What decision should Walton make?
a. process further because NI will be $13 greater
b. sell before assembly because NI per unit will be $12 greater
c. process further because NI will be $1 greater
d. sell before assembly because NI per unit will be $1 greater
Answer:
c. process further because NI will be $1 greater
Explanation:
Calculation to know What decision that Walton should make
First step is to calculate the current selling price profit
Using this formula
Current selling price profit= selling price -cost price
Let plug in the formula
Current selling price profit= =$55-$20
Current selling price profit = $35
Second Step is to calculate the new selling price profit
New selling price profit= $68-($20+_12)
New selling price profit=$68-$32
New selling price profit= $36
Last step is to calculate the NI using this formula
NI=New selling price profit-Current selling price profit
Let plug in the formula
NI=$36-$35
NI=$1
Based on the above calculation their is an increase in net income of the amount of $1 which means that the decision that Walton should make will be to process further because NI will be $1 greater
Olivia requested for leave from her supervisor for one week since her daughter fell sick and required home care. The employer refused to grant her leave and as a result Olivia was forced to be absent from work without pay. She later filed a suit against her employer alleging violation of Title VII. Under the assumption that Olivia is a productive employee, the court most likely held that:____________
Answer:
b. Olivia is entitled for leave under F M L A.
Explanation:
From the question, we are informed about Olivia who requested for leave from her supervisor for one week since her daughter fell sick and required home care. The employer refused to grant her leave and as a result Olivia was forced to be absent from work without pay. She later filed a suit against her employer alleging violation of Title VII. In this case, Under the assumption that Olivia is a productive employee, the court most likely held that Olivia is entitled for leave under F M L A. Title VII can be regarded as a law that applies to private as well as public employers with 15 employees and more, the enforcement is carried out by
the Equal Employment Opportunity Commission in the state.It gives prohibition on sexual sex harassment or hostile work environment by the employers to the employees, the law can also be enforced in a case whereby an employee is facing a situation where by the employer refused to promote the employees
.
EXERCISE 5–2 Prepare a Cost-Volume-Profit (CVP) Graph LO5–2 Karlik Enterprises distributes a single product whose selling price is $24 per unit and whose variable expense is $18 per unit. The company’s monthly fixed expense is $24,000. Required: 1. Prepare a cost-volume-profit graph for the company up to a sales level of 8,000 units. 2. Estimate the company’s break-even point in unit sales using your cost-volume-profit graph.
Answer:
Cost volume profit analysis (CVP) refers basically to determining the break-even point of a company and how we can use that information to predict how different changes might affect it. When you are performing a CVP analysis you have to decide which variables will be constant, i.e. ceteris paribus, and which will be altered to predict the effect on the company’s operating income.
1)
sales level total revenue variable costs fixed costs total costs
2,000 48,000 36,000 24,000 60,000
4,000 96,000 72,000 24,000 96,000
6,000 144,000 108,000 24,000 132,000
8,000 192,000 144,000 24,000 168,000
2) break even point = 4,000 units
sales level total revenue variable costs fixed costs total costs
2,000 48,000 36,000 24,000 60,000
4,000 96,000 72,000 24,000 96,000
6,000 144,000 108,000 24,000 132,000
8,000 192,000 144,000 24,000 168,000
2) thus, reach point = 4,000 units
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Renoir Associates has declared a $49,000 cash dividend to shareholders. The company has 4,000 shares of $16par, 6% preferred stock and 11,000 shares of $16par common stock. The preferred stock is noncumulative. How much will be distributed to the preferred and common stockholders on the date of payment?
Answer:
Preferred stock dividend is paid our before common dividends are paid out. Preferred dividends are;
= 4,000 * 16 * 6%
= $3,840
Common Stock Dividends
= 49,000 - 3,840
= $45,160
When preparing the financial analysis for a business plan, the required statements and schedules will depend on the:
Complete Question:
When preparing the financial analysis for a business plan, the required statements and schedules will depend on the:
Group of answer choices
A. size of the particular project.
B. plan's presentation procedure that is expected in your own organization.
C. project's complexity.
D. All of these are correct.
Answer:
D. All of these are correct.
Explanation:
Financial analysis can be defined as the process of analyzing the stability, profitability, accuracy and viability of a business entity through its financial statements.
Financial statements can be defined as a document used for the formal communication or disclosure of financial information and statements to present and potential users such as investors and creditors. These includes balance sheet, statement of retained earnings and income statement.
Hence, when preparing the financial analysis for a business plan, the required statements and schedules will depend on the following;
A. size of the particular project.
B. plan's presentation procedure that is expected in your own organization.
C. project's complexity.
Some years back, a number of manufacturers of low-end, inexpensive cell phones started introducing their products into the Eastern African market. David, the owner of a medium-sized firm manufacturing mid-priced cell phones, believes the Eastern African market is now ready for slightly more expensive phones with greater functionality. If he's right, David has identified a(n):
Answer:
entrepreneurial opportunity
Explanation:
Entrepreneurial opportunities refer to business opportunities where new or different goods or services can be introduced into a market. In this case, the cell phone market in eastern African countries is basically saturated with low-end phones, but David sees the opportunity of selling more expensive and better cell phones. Since he wants to offer different goods into an established market, he is identifying an entrepreneurial opportunity.
Elena's aunt gave her $100 for her birthday with the condition that Elena buys herself something. In deciding how to spend the money, Elena narrows her options down to four choices:
Option A, Option B, Option C, and Option D. Each option costs $100. Finally, she decides on Option B. The opportunity cost of this decision is:________
a. the value to Barb of Options A, C and D combined.
b. the value to Barb of the option she would have chosen had Option B not been available.
c. the average of the values to Barb of Options A, C, and D.
d. $100.
Answer: b. the value to Barb of the option she would have chosen had Option B not been available.
Explanation:
The opportunity cost of an alternative is the benefit/ value of the next best alternative that would have been picked if the current alternative had not been available.
In this case Elena chose B. The opportunity cost of this decision therefore is the value of the option she would have picked had B not been available because this would be the next best alternative.
Assume that the salespeople of Excellent Corp. are paid 3% of sales as commission. The level of sales is $290,000 for this month, and the only fixed selling costs are $20,000. Excellent's budgeted selling costs for this month are:_____.a. $11,300. b. $38,700. c. $20,000. d. $28,700.
Answer:
d. $28,700.
Explanation:
The computation of the budgeted selling cost for the given month is shown below:
= Fixed selling cost + variable selling cost
= $20,000 + $290,000 × 3%
= $20,000 $+ $8,700
= $28,700
We simply applied the above formula so that the correct value could come
And, the same is to be considered
Hence, the correct option is d. $28,700
What is a country that wants to increase its per capita GDP trying to achieve?
A. It wants to prevent its currency from gaining or losing value too
quickly.
B. It wants to increase its economic productivity per person in the
country.
C. It wants to reduce the number of people who can't find a job.
D. It wants to lower the value of goods and services it produces.
Answer: B
Explanation: taking the test rn and I got it right
It wants to increase its economic productivity per person in the is country that wants to increase its per capita GDP trying to achieve. Thus, option B is correct.
What is per capita GDP?By dividing a country's GDP by its community, the GDP is a budgetary method of quantifying the productive capacity per human in a country and people. Sector's contribution by all growers who are residents of the economy combined with any brand taxes that are not factored into yield valuation makes up GDP per capita.
The goal of the nation seeking to enhance its per population GDP is to enhance its economic production per person. Average earnings rise as a result of sustained expansion, which is also closely related to decreasing poverty.
A fundamental estimate of the production value of every person is provided by GDP per capita, it serves as an additional measure of per capita. GDP as well as GDP per capita expansion are seen as wide
Therefore, option B is the correct option.
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On January 1, 2017, Boston Enterprises issues bonds that have a $3,400,000 par value, mature in 20 years, and pay 9% interest semiannually on June 30 and December 31. The bonds are sold at par.
Required:
1. How much interest will Boston pay (in cash) to the bondholders every six months?
2. Prepare journal entries to record (a) the issuance of bonds on January 1, 2017: (b) the first interest payment on June 30, 2017; and (c) the second interest payment on December 31, 2017 3.
3. Prepare the journal entry for issuance assuming the bonds are issued at (a) 98 and (b) 102.
Answer:
1. Par Value = $3,400,000
Semi-annual coupon rate = 9%/2 = 4.5%
Semi annual coupon = Semiannual rate * Par value = 4.50$*$3,400,000
= $153,000
So, the interest that Boston will pay (in cash) to the bondholders every six months is $153,000
2. Date Account Titles and Explanation Debit Credit
Jan 1, 2017 Cash $3,400,000
Bonds payable $3,400,000
(To record the issuance of bonds)
Jun 30, 2017 Interest expenses $153,000
Cash $153,000
(To record the first interest payment)
Dec 31, 2017 Interest expenses $153,000
Cash $153,000
(To record the second interest payment)
3. S/n Account Titles Debit Credit
a Cash (3,400,000*98%) $3,332,000
Discount on Bonds payable $68,000
Bonds payable $3,400,000
b Cash (3,400,000*102%) $3,468,000
Premium on bonds payable $68,000
Bonds payable $3,400,000
Peter Metcalf founded Black Diamond which creates, produces, and sells outdoor equipment. This is an example of
Answer:
manufacturing organization
Explanation:
This is an example of a manufacturing organization. This is an organization that focuses on gathering all of the necessary ingredients, which are then placed in a specific process to which combines them to make a unique product. This product is then sold to other companies or individual customers to generate profit for the company. This is exactly what Black Diamond does in order to produce outdoor equipment.
A major element in budgetary control is A. the preparation of long-term plans. B. the comparison of actual results with planned objectives. C. the valuation of inventories. D. approval of the budget by the stockholders.
Answer:
b. the comparison of actual results with planned
Explanation:
Budgetary control can be regarded as a way whereby budgets are been set up because if the future period then make comparison with the actual performance so that variances could be found if any. To find variance as well as corrective measures, , there should be a comparison of budgeted figures with respect to actual figures by management. It should be noted that major element in budgetary control is the comparison of actual results with planned
A firm is deciding between two different sewing machines. Technology A has fixed costs of $500 and marginal costs of $50 whereas Technology B has fixed costs of $250 and marginal costs of $100. At what quantity is the firm indifferent between the two technologies?
Answer: 5 units
Explanation:
Use equations.
Cost of Producing with Tech A;
= 500 + 50Q
Cost of Producing with Tech B;
= 250 + 100Q
Point of indifference;
500 + 50Q = 250 + 100Q
500 - 250 = 100Q - 50Q
50Q = 250
Q = 5 units
If a competitive firm can sell a bushel of soybeans for $25 and it has an average variable cost of $24 per bushel and the marginal cost is $26 per bushel, the firm should:_______
Answer: reduce output.
Explanation:
In a competitive market, firms do not have control over the price that they sell their goods in the market but they do have control over their costs. It is recommended to produce/ sell goods at a quantity where Marginal Revenue will equal Marginal cost (MR = MC).
In a Competitive Market, Price is the same as Marginal revenue which means that Marginal revenue here is $25 and the Marginal Cost is $26. At this quantity of output, the Marginal Cost is larger than the Marginal revenue.
Company should therefore reduce output to a quantity where Marginal Cost will equal Marginal revenue.
Comparing health insurance policies. Use Worksheet 9.1. Lexi Thomas, a recent college graduate, has decided to accept a job offer from a nonprofit organization. She’ll earn $44,000 a year but will receive no employee health benefits. Lexi estimates that her monthly living expenses will be about $2,000 a month, including rent, food, transportation, and clothing. She has no health problems and expects to remain in good health in the near future.
Using the Internet or other resources, gather information about three health insurance policies that Lexi could purchase on her own. Include at least one HMO. Use Worksheet 9.1 to compare the policies’ features. Should Lexi buy health insurance? Why or why not? Assuming that she does decide to purchase health insurance, which of the three policies would you recommend and why?
Answer:
um can you egsplain that a bit beter please and then i might be able to help
Explanation:
Hannah Spiritway works for a cable TV company in a large city. She handles telephone calls from customers who are having problems with their cable service. Hannah is a(n):_____.a. a sales promotion specialist.
b. a customer service rep.
c. an order taker.
d. an order getter.
If a monopolist is able to increase the amount of product she sells from 400 to 420 units by lowering the price of that product from $50 to $45, her marginal revenue is: multiple choice $-55.
Answer:
-$55
Explanation:
The computation of the marginal revenue is shown below:
As we know that
Total revenue = Price × Quantity
For 400 units, the total revenue is
= 400 × $50
= $20,000
And for 420, the total revenue is
= 420 × $45
= $18,900
Now the marginal revenue is
= ($18,900 - $20,000) ÷ (420 units - 400 units)
= -$55