Answer:
C is the correct answer
Explanation:
Denying the loan because the person is unlikely to pay it back is a bank most likely to take when evaluating a loan application from a person with a low credit score and a poor credit history.
What is loan application?Borrowers apply for loans via a loan application. Through the loan application, borrowers provide vital financial information to the lender.
The loan application is crucial in determining whether or not the lender will approve your funding or credit request.
Thus, option C is correct.
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If the European subsidiary of a U.S. firm has net exposed assets of 750,000 Euros, and the euro drops in value from $1.30/euro to $1.20/ Euro the U.S. firm has a translation:__________
a. gain of $75,000
b. loss of $75,000
c. gain of $65,000
d. loss of 546,923
ABC company had 8,000 in accounts receivable on Dec. 31, 2019. However, the company estimated that 2,000 of them would become bad debt. The company recorded the 2,000 as bad debt. What is the impact on the financial statement?
Answer:
Net income is reduced by 2,000 and the net value of receivables on balance sheet reduced by 2,000
Explanation:
Since it is given that there is $8,000 in account receivable out of which $2,000 would be estimated and recorded as a bad debt
So here the bad debt expense is recorded that means the expenses are increased that ultimately reduced the net income also at the same time the amount of receivable would also decreased by $2,000
Therefore the same is to be considered
What is the effect on China's aggregate demand when the United States goes into recession, when Japanese and European firms establish new plants in China, or when the Chinese yuan strengthens against the U.S. dollar?
Answer:
When the United States goes into recession - China's aggregate demand suffers greatly, meaning that it is reduced. This is because China is an important exporter of goods to the United States, so the exports element of Aggregate Demand will fall, bringing down Aggregate Demand as a whole.
When Japanese and European firms establish new plants in China - Chinese aggregate demand increases because more private investment from abroad arrives in the country, not only benefiting the Japanese owners, but also Chinese workers in the form of wages, Chinese companies in the form of more domestic consumption, and the Chinese government in the form of more tax revenue.
when the Chinese yuan strengthens against the U.S. dollar? - Aggregate demand will probably fall because a stronger yuan will decrease Chinese exprots, and increase American imports to China, and imports are not part of the Aggregate Demand calculation.
Buchanan Company recently was sued by a competitor for patent infringement. Attorneys have determined that it is probable that Buchanan will lose the case and that a reasonable estimate of damages to be paid by Buchanan is $300,000. In light of this case, Buchanan is considering establishing a $100,000 self-insurance allowance. What entry(ies), if any, should Buchanan record to recognize this loss contingency
Answer: Debit: Litigation expense $300,000
Credit: Litigation liability $300,000
Explanation:
Loss contingency is typically a charge to expense for a future occurence in this case, a lawsuit. A loss contingency simply makes the economic entity to be aware at an early stage of the loss and its likely financial implication.
The entries that Buchanan should record to recognize this loss contingency will be to:
Debit: Litigation expense $300,000
Credit: Litigation liability $300,000
According to Gardner, intelligence can be measure by a person having
a. the ability to create or find solutions to problems by gathering new knowledge
b. the ability to create a valued product or service
C. Skills that allow them to solve problems in life
d. all of the above
Answer: D. All of the above.
Explanation:
Answer:
its d
Explanation:
hope this helps
On August 25, a privately owned company exchanged 10,000 shares of its private common stock for land. There is no readily available estimate of the stock’s fair value but the land has a current appraised value of $240,000. The seller originally bought the land for $200,000 two years ago. The journal entry the buyer records for acquisition of the land includes:______.A. A credit to common stock of $200,000.B. A credit to gain of $40,000.C. A debt to land for $240,000.D. All of these answer choices are correct.
Answer:
C. A debit to land for $240,000.
Explanation:
As it is mentioned that the value of the land has the appraised value of $240,000 also at the same time the common stock value could not be predicted
Therefore the land should be recorded at the current appraisal value i.e $240,000
Thus, the correct option is c. a debit to land for $240,000
The same is to be considered
Explain why the consideration of opportunity costs may be very relevant to a firm. How can opportunity costs affect a business decision?
Answer:
Importance : Opportunity cost is lost Contribution
Effect : Opportunity cost increases the variable costs of the decision that has been chosen
Explanation:
Opportunity Cost is a lost contribution. Contribution is calculated as Sales less Variable Costs.
Considering opportunity costs is very relevant to a firm because it constitutes part of the money lost that cold have been earned when another alternative course of action is chosen over another. The opportunity cost would have been the revenue for the disregarded option.
So opportunity cost increases the variable costs of the decision that has been chosen.
Simms Corp. is considering a project that has the following cash flow data. What is the project's IRR? Note that a project's projected IRR can be less than the WACC or negative, in both cases it will be rejected.
Year 0123
Cash flow -$1000 $425 $425 $425
a. 13.87%
b. 13.21%
c. 15.29%
d. 12.55%
e. 14.56%
Answer:
the project's IRR is b. 13.21%
Explanation:
The Internal Rate of Return (IRR) of a Project is interest rate that causes the the Present Values of the Project Cashflows to equal the price of the Initial Investment.
This can be calculated using a financial calculator as follows ;
-$1000 CFj
$425 CFj
$425 CFj
$425 CFj
Then Shift IRR/YR we get 13.2054 % that is 13.21%.
Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (c) FIFO, and (d) LIFO.
Question Completion:
Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March.
Date Activities Units Acquired at Cost Total Cost / Sales
Mar. 1 Beginning inventory 70 units at $50.40 $3,528
Mar. 5 Purchase 210 units at $55.40 11,634
Mar. 9 Sales 230 units at $85.40 19,642
Mar.18 Purchases 70 units at $60.40 4,228
Mar. 25 Purchases 120 units at $62.40 7,488
Mar. 29 Sales 100 units at $95.40 9,540
Total units available for sale = 470
Total Sales = 330 units
Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification.
For specific identification, the March 9 sale consisted of 50 units from beginning inventory and 180 units from the March 5 purchase; the March 29 sale consisted of 30 units from the March 18 purchase and 70 units from the March 25 purchase.
Answer:
Warnerwoods Company
Cost Assignment Ending Inventory Cost of Goods Sold
(a) specific identification: $8,206 $18,672
(b) weighted average 8,414 18,464.50
(c) FIFO 8,696 18,182
(d) LIFO 8,080 18,798
Explanation:
a) Data and Calculations:
Date Activities Units Acquired at Cost Total Cost / Sales
Mar. 1 Beginning inventory 70 units at$50.40 $3,528
Mar. 5 Purchase 210 units at $55.40 11,634
Mar. 9 Sales 230 units at $85.40 $19,642
Mar.18 Purchases 70 units at $60.40 4,228
Mar. 25 Purchases 120 units at $62.40 7,488
Mar. 29 Sales 100 units at $95.40 $9,540
Total units available for sale = 470 $26,878
Total Sales = 330 (230 + 100) units $29,182
Ending Inventory = 140 (470 - 330) units
1. For specific identification, Cost of goods sold:
March 9 sale 50 units from beginning inventory at $50.40 = $2,520
and 180 units from the March 5 purchase at $55.40 = 9,972
March 29 sale 30 units from the March 18 purchase at $60.40 = 1,812
and 70 units from the March 25 purchase at $62.40 = 4,368
Total for cost of goods sold under specific identification = $18,672
Ending Inventory = Cost of goods available for sale minus Cost of goods sold
= $8,206 ($26,878 - $18,672)
Weighted Average:
Cost of goods Sold
March 9 sales of 230 units at $54.15 ($3,528+11,634)/280 = $12,454.50
March 29 sales of 100 units at $60.10 $2,707.50+4,228+7,488) 6,010.00
Total cost of goods sold = $18,464.50
Ending Inventory = 140 units at $60.10 = $8,414
Workings:
Balance of inventory of 50 units at $54.15 2,707.50
Purchases 70 units at $60.40 4,228
Purchases 120 units at $62.40 7,488
Total 240 units $14,423.50/240 = $60.10
FIFO:
Cost of Goods Sold
March 9 sales of 230 units (70*$50.40 + 160*$55.40) = $12,392
March 29 sales of 100 units (50*$55.40 + 50*$60.40) = 5,790
Total cost of goods sold = $18,182
Ending Inventory:
Cost of goods available for sale minus Cost of goods sold
= $8,696 ($26,878 - 18,182)
LIFO:
Cost of Goods Sold
March 9 sales of 230 units (20*$50.40 + 210*$55.40) = $12,558
March 29 sales of 100 units (100*$62.40) = 6,240
Total cost of goods sold = $18,798
Ending Inventory
Cost of goods available for sale minus Cost of goods sold
= $8,080 ($26,878 - 18,798)
If a firm is a factor price taker in the labor market,a) it will continue to hire workers as long as MFC > MRP. b) it must pay higher wages in order to hire additional workers. c) it must hire all workers who apply for a job. d) it can hire all the workers it wants to at the going wage rate.
Answer:
d) it can hire all the workers it wants to at the going wage rate.
Explanation:
The price taker means the company or an individual is ready to accept the prices that are prevailed in the market
In the case when a firm is a price taker in the labor market also it cannot set the prices as expected. The attached diagram represent the flat supply curve. It hire the workers depend upon the MPR and the factor supply curves
Therefore in the given situation, the last option is correct
When operating in a constrained environment, which products should be produced? a. products with the highest contribution margin per unit b. products with the highest contribution margin per unit of the constrained process c. products with the highest selling price d. products with the lowest allocated joint cost
Answer: B. products with the highest contribution margin per unit of the constrained process.
Explanation:
When operating in a constrained environment, the products that should be produced are the products with the highest contribution margin per unit of the constrained process.
This is essential for the company to maximize its total contribution margin. This in turn will help the company in realizing revenue and also maximizing profit.
What type of research is being used when gathering data from structured survey responses that are numerical in nature?A. Qualitative.
B. Observational.
C. Quantitative.
D. Secondary.
E. Tertiary.
Answer:
C. Quantitative.
Explanation:
Here in the question it is mentioned that the research type which is used at the time when the data is gathered from structured survey that response and are in the numerical so here the numerical means the data which can be count and we called as a quantitative
Therefore the option C is correct
hence, the same is to be considered
Question Help A company purchased mineral assets holding approximately 240,000 tons of ore for $960,000. The estimated residual value of the assets is zero. During the first year, 40,000 tons are extracted and sold. What is the amount of depletion for the first year?
Answer: $160,000
Explanation:
First calculate the Depletion rate per ton which is;
= ( Cost - residual value) / Capacity in tons
= (960,000 - 0) / 240,000
= $4 per ton
In first year, 40,000 tons were used. Amount of depletion is therefore;
= 40,000 * 4
= $160,000
The amount of depletion for the first year did by the company in purchasing the mineral assets were as below :
And will do Cost less the residual value and divide by capacity :
= 960000 - 0 / 240000
= $4 per ton.
In the first year the company acquired 40,000 extract .
= 40,000 x 4
= $160,000 amount of depletion happens in the first year .
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Chuck Russo, a high school math teacher, wants to set up an IRA account into which he will deposit $2,000 per year. He plans to teach for 20 more years and then retire. If the interest on his account is 7% compounded annually, how much will be in his account when he retires?
Answer:
FV= $819,909.85
Explanation:
Giving the following information:
Anual deposit= $20,000
Number of periods= 20 years
Interest rate= 7%
To calculate the future value, we need to use the following formula:
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
FV= {20,000*[(1.07^20) - 1]} / 0.07
FV= $819,909.85
Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Standard Standard Price Standard Quantity (Rate) Unit CostDirect materials (plastic) 9 sq ft. $ 1.30 per sq. ft. $ 11.70 Direct labor 0.3 hr. $ 13.50 per hr. 4.05 Variable manufacturing overhead(based on direct labor hours) 0.3 hr. $ 1.30 per hr. 0.39 Fixed manufacturing overhead($619,080 ÷ 938,000 units) 0.66 Parker Plastic had the following actual results for the past year:Number of units produced and sold 1,000,000Number of square feet of plastic used 12,800,000Cost of plastic purchased and used $ 15,360,000Number of labor hours worked 336,000Direct labor cost $ 4,200,000Variable overhead cost $ 1,700,000Fixed overhead cost $ 393,000Required:Calculate Parker Plastic’s variable overhead rate and efficiency variances and its over- or underapplied variable overhead. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable/Overapplied and "U" for unfavorable/underapplied.)Variable Overhead Rate Variance $Variable Overhead Efficiency Variance $Variable Overhead Spending Variance $
Answer:
Following are the solution to this question:
Explanation:
Overhead variable rate
[tex]=1700000-(336000 \times 1.30)= 1263200[/tex]
Performance Variance variable overhead
[tex]=1.3\times (336000-1000000 \times 0.3) = 46800[/tex]
Overhead variable spending[tex]=1700000-(1000000\times 0.39) =1310000[/tex]
The (a)____________ refers to a loss one party that is not offset by gains to someone else. For example, if you bought a gift for Jose for $235, but the gift is only worth $100 to Jose, then the (a)____________ is (b)____________.
Answer:
a. Deadweight loss
b. $135
Explanation:
The deadweight loss is a situation when the demand and the supply is not within the equilibrium. It could be applied at the time when there is a deficiency that results in non-efficient resource allocation
So as per the given situation, the deadweight loss is the answer
And, the amount would be
= Purchase value - worth value
= $235 - $100
= $13
A bond with a face value of $1,000 has and 9.29 percent coupon and pays interest semiannually. The current yield is 7.77 percent. What is the price of the bond?
Answer:
The price of the bond is $1,195.62
Explanation:
Current yield is the ratio of coupon payment of a bond to its current market price. It is calculated by using coupon payment and the current market value of the bond.
Using following formula of current yield we can calculate the price of the bond
Current Yield = Annual Coupon Payment / Current Market Price
Where
Coupon Payment = $1,000 x 9.29% = $92.9
Current Yield = 7.77%
Placing values in te formula
7.77% = $92.9 / Market value of the bond
Market value of bond = $92.90 / 7.77%
Market value of bond = $1,195.62
The _____________ define(s) what the system does.
A. mission of the system
B. RA
C. operational characteristics
D. previous findings
2- What may occur if you do NOT include the scope of the RA when defining it?
A. Attacks
B. exploited threats
C. Losses
D. missed deadlines
3- __________ define(s) how the system operates in your environment.
A. The mission of the system
B. Operational characteristics
C. RAs
D. Previous findings
With a planned volume of 15,000 units, the master budget includes variable costs of $450,000 and fixed costs of $350,000. If the actual volume is 12,000 units, the total costs under flexible budget should be:__________a. $490,000.b. $560,000.c. $650,000.d. $710,000.
Answer:
Total cost= $710,000
Explanation:
Giving the following information:
15,00 units:
Fixed costs= $350,000
Total variable cost= $450,000
First, we need to calculate the unitary variable cost:
Unitary variable cost= 450,000 / 15,000
Unitary variable cost= $30
Now, the total cost for 12,000 units:
Total cost= 350,000 + 30*12,000
Total cost= $710,000
When there is excess supply of loanable funds, interest rates will rise in response. A. True B. False
Answer:
that is my answer
Explanation:
i choose A Flase
6. Explain why a movement from a point inside a production possibilities frontier to the production possibilities frontier can be described as a free lunch and a movement along a production possibilities frontier is described as a tradeoff
Answer: Moving down along the PPF will produce more goods but less quality
Explanation:
On the production possibilities frontier, every choice along involves a trade-off, moving down along the PPF, production of capital goods is more but this will result in less quality for to consumers goods, when analysed with the opportunity cost, it is realized that the value of customer good o gone
have to produce less quantity of consumer goods. The opportunity cost of a capital good is the value of consumer good forgone.
A company purchased a new delivery van at a cost of $58,000 on July 1. The delivery van is estimated to have a useful life of 4 years and a salvage value of $4,600. The company uses the straight-line method of depreciation. How much depreciation expense will be recorded for the van during the first year ended December 31?a. $13,350.
b. $6,260.
c. $6,675.
d. $7,250.
e. $5,750.
Answer:
a. $13,350
Explanation:
Using straight-line method of depreciation the depreciable value of an assets is expensed over the useful life of the asset equally each year.
Use following formula to calculate the depreciable value
Depreciable value = Cost of asset - Salvage value
Placing values in the formula
Depreciable value = $58,000 - $4,600
Depreciable value = $53,400
Now use following formula to calculate the depreciation value of each year
Depreciation expense = Depreciable value of the asset / Useful life of the asset
Placing values in the formula
Depreciation expense = $53,400 / 4 years
Depreciation expense = $13,350
Amazon Corporation has preferred stock outstanding that pays a $12.80 annual dividend. It price is $158. What is the required rate of return (yield) on the preferred stock?
Answer:
8.10%
Explanation:
The required rate of return (yield) on the preferred stock = Dividend / Price
= $12.80 / $158 = 0.0810126582278481 = 8.10%
Managing the relationship between current assets and current liabilities of the firm in order to improve the flow of funds is called
Answer:
Working capital management
Explanation:
Working capital management refers to managing the working capital
Here working capital means
Working capital = Current assets - current liabilities
It is used for managing for the short term
The current asset involved cash, account receivable, stock etc
The current liabilities is an account payable, etc
Therefore according to the given situation, the working capital management is the answer
Also it improves the funds flow
If people's trust in the banking system is reduced due to a surge in bank failures, the money expansion resulting from a new deposit will:____________
a) increase
b) decline
c) not be affected
d) none of the above
Answer:
b) decline
Explanation:
If people's trust in the banking system is reduced due to a surge in bank failures, the money expansion resulting from a new deposit will decline. This happens because people lost trust and hastily withdrawn their money deposited with the bank.
Loki, Inc. and Thor, Inc. have entered into a stock-swap merger agreement whereby Loki will pay a 39% premium over Thor's pre-merger price. If Thor's pre-merger price per share was $42 and Loki's was $51, what exchange ratio will Loki need to offer?
Answer: 1.15
Explanation:
Premium = 39%
Thor's share price = $42
The compensation to shareholders will be:
= $42 + ($42 × 0.39)
= $42 + $16.38
= $58.38
Loki's share price = $51
We then calculate the exchange ratio which will be:
= $58.38 / $51
= 1.15
Loki will need to offer an exchange rate of 1.15.
Wickland Company installs a manufacturing machine in its production facility at the beginning of the year at a cost of $87,000. The machine's useful life is estimated to be 5 years, or 400,000 units of product, with a $7,000 salvage value. During its second year, the machine produces 84,500 units of product. Determine the machines' second year depreciation under the double-declining-balance method.A. $16,900.B. $16,000.C. $17,400.D. $18,379.E. $20,880.
Answer:
$13,920
Explanation:
Calculation to Determine the machines' second year depreciation under the double-declining-balance method
First step is to calculate the depreciation rate
Using this formula
Depreciation rate = 100% / Useful life *2
Let plug in the formula
Depreciation rate == (100%/5years) * 2
Depreciation rate =40%
Second Step
Year 1 =$87,000 *40% *2
Year 1= $69,600
Third step is to Determine the machines' second year depreciation under the double-declining-balance method
Year 2 Depreciation = ($87,000 - $69,600) *40% *2
Year 2 Depreciation= $13,920
Therefore the machines' second year depreciation under the double-declining-balance method will be $13,920
In the __________________ manufacturing environment, order acceptance occurs before the production lead time. Fill in the blanks.
Answer:
Make to order (MTO)
Explanation:
A Make to order (MTO) can be defined as a manufacturing technique which typically involves the production of goods only when an order has been placed by a customer. Thus, no product would be manufactured under this production technique or approach until a confirm order is received.
In the Make to order (MTO) manufacturing environment, order acceptance occurs before the production lead time.
What is the preferred method of resolving a partner's deficit balance, according to the Uniform Partnership Act?
a. Panners never have a deficit balance.
b. The other partners must contribute personal assets to cover the defict baliance.
c. The partnershlip must sell assets In order to cover the deficlt balance.
d. The partner with a deficlt balance must contribute personal assets to cover the deficit balance.
e. The partner with a deficlt balance contributes personal assets only If those personal assets exceed personal lablties.
Answer:
e. The partner with a deficlt balance contributes personal assets only If those personal assets exceed personal lablties.
Explanation:
The Uniform Partnership Act is a provision that resolves conflicts in a partnership that is not addressed in the partnership agreement.
The Act is used mostly with small and informal partnerships.
It has been adopted in all states except Louisiana.
Partners must settle their debts in order to redeem their interest in the partnership.
UPA provides that partner with deficit contributes personal assets only If those personal assets exceed personal liabilities.
The vast improvement in communications technology and globalization has caused the degree of competition many local retail businesses face to ___________.
a. fluctuate drastically
b. increase
c. decrease
d. stay the same
Answer:
b. increase
Explanation:
These changes have caused competition to greatly increase. This is mainly because with these changes anyone from around the world can provide the same services/products that a local retail business can provide while reaching customers from all over the world. Therefore, also competing with any retail brick-and-mortar business from any part of the world. Customers can easily communicate with these online businesses and purchase their products/services from the comfort of their homes and usually at a much better price.