Answer:
$3,956.91
Explanation:
The future value of an annuity is determined by the following expression:
[tex]FV = P*(\frac{(1+r)^n-1}{r} )[/tex]
For annualdeposits of $170, at a 6 percent rate for 15 years, the future value is:
[tex]FV = 170*(\frac{(1+0.06)^{15}-1}{0.06})\\FV =\$3,956.91[/tex]
Elaine gains $3,956.91 from preparing her own tax return.
Elaine gains $455.94 by preparing her own tax return over a period of 15 years.
Explanation:To calculate how much Elaine gains from preparing her own tax return, we need to calculate the savings she makes each year by not hiring a tax preparer and then calculate the future value of those savings over 15 years. The amount she saves each year is $170. Assuming she can earn 6% on her savings, we can use the future value formula to calculate the total savings over 15 years.
The future value formula is:
FV = PV * (1 + r) ^ n
Where FV is the future value, PV is the present value (in this case the annual savings), r is the interest rate per period (6% or 0.06 in decimal form), and n is the number of periods (15 years). Plugging in the values, we get:
FV = $170 * (1 + 0.06) ^ 15 = $170 * 1.06^15 = $455.94.
So, Elaine gains $455.94 by preparing her own tax return over a period of 15 years.
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Prepare journal entries to record the following four separate issuances of stock.
1. A corporation issued 4,000 shares of $5 par value common stock for $35,000 cash.
Record the issue of 4,000 shares of $5 par value common stock for $35,000 cash.
DATE GENERAL JOURNAL DEBIT
CREDIT
1
2. A corporation issued 2,000 shared of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $40,000. The stock has a $1 per share stated value.
Record the issue of 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $40,000. The stock has a $1 per share stated value.
DATE GENERAL JOURNAL DEBIT CREDIT
1
3. A corportation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $40,000. The stock has stated no value.
Record the issue of 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $40,000. The stock has no stated value.
Date GENERAL JOURNAL DEBIT CREDIT
1
4. A corporation issued 1,000 shares of $50 par value preferred stock for $60,000 cash.
Record the issue of 1,000 shares of $50 par value preferred stock for $60,000 cash.
DATE GENERAL JOURNAL DEBIT CREDIT
1
Answer:
1. A corporation issued 4,000 shares of $5 par value common stock for $35,000 cash.
Account Debit Credit
Cash $35,000
Common Stock $20,000
Additonal Paid-In Capital
in Excess of Par Value $15,000
2. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $40,000. The stock has a $1 per share stated value.
Account Debit Credit
Promters Services Expense $40,000
Common Stock $2,000
Additonal Paid-In Capital $38,000
3. A corportation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $40,000. The stock has stated no value.
Account Debit Credit
Promters Services Expense $40,000
Common Stock $40,000
4. A corporation issued 1,000 shares of $50 par value preferred stock for $60,000 cash.
Account Debit Credit
Cash $60,000
Preferred Stock $50,000
Additonal Paid-In Capital $10,000
The tendency of employees in a functionally organized company to become fixated on their own concerns and work assignments to the exclusion of the needs of other departments is known as:
a. Myopia.
b. Nepotism.
c. Layering.
d. Siloing.
Answer:
d. Siloing.
Explanation:
Siloing is the present participle of the word silo which means isolated.
The tendency of employees in a functionally organized company to become fixated on their own concerns and work assignments to the exclusion of the needs of other departments is known as siloing because that particular employee is being isolated from other departments. This might include an IT system.
The following financial data are for the dental practice of Dr. Donna Wells when she began operations in July.
1. Owes $21,000 to the Allen Equipment Company.
2. Has cash balance of $15,500.
3. Has dental supplies of $5,650.
4. Owes $6,180 to Contemporary Furniture Supply.
5. Has dental equipment of $28,550.
6. Has office furniture of $10,000.
A) Determine the amounts that would appear in Dr. Wells' balance sheet.
Dr. Wells' balance sheet will list assets such as cash, dental supplies, dental equipment, and office furniture, and liabilities including accounts payable to two companies. The total assets amount to $59,700, and the total liabilities are $27,180. Equity is not specified and would be calculated as the difference between total assets and total liabilities.
Explanation:The balance sheet for Dr. Wells' dental practice will show the assets, liabilities, and equity at the beginning of her
business operations. It would be formatted as follows:
Assets
Cash: $15,500Dental Supplies: $5,650Dental Equipment: $28,550Office Furniture: $10,000Liabilities
Accounts Payable (Allen Equipment Company): $21,000Accounts Payable (Contemporary Furniture Supply): $6,180EquityThis section of the balance sheet would typically detail the owner's equity, which is the residual interest in the assets of the entity after deducting liabilities. Since no specific equity information is provided, it would be assets minus liabilities. However, this can be complex without additional information, such as contributed capital or earnings.
The total assets equal $59,700 ($15,500 + $5,650 + $28,550 + $10,000), and the total liabilities equal $27,180 ($21,000 + $6,180). The difference between total assets and total liabilities would yield the net equity, assuming there are no other equity contributions or retained earnings.
Will Jones, LLP is a small CPA firm that focuses primarily on preparing tax returns for small businesses. The company pays a $500 annual fee plus $10 per tax return for a license to use Mega Tax software.
Required:
1. What is the company’s total annual cost for the Mega Tax software if:
Annual Fee – $500
License Fee per Return – $10 Total Cost
300 500 + 10 x 300 = $3,500
400 500 + 10 x 400 = $4,500
500 500 + 10 x 500 = $5,500
2. What is the company’s cost per return for the Mega Tax software if:
300 Total cost/units = $3,500 / 300 = $11.67
400 $4,500 / 400 = $11.25
500$ 5,500 / 500 = $11.00
3. Why does the cost per return differ at each of the three volume levels?
Answer:
The company pays $ 500 yearly fee to use Mega Tax Software which is record as fixed costs. Fixed costs do not differ with the variation in the manufacturing levels. Conversely, the fixed cost per unit declines as manufacturing increases, as the same fixed costs are extent over more units. Also the fixed costs per unit rises as the production decreases. Therefore when the production level increased from 300 units to 500 units, the fixed costs per unit reduced and since the variable cost per unit is the same at $ 10 per unit regardless of the levels of production, the total cost per return declines from $ 11.67 to $ 11.
The cost per return changes because the fixed cost of $500 is spread over an increasing number of returns. The more returns prepared, the lower the cost per return.
Explanation:Yes, your computations for the total and per unit cost of using the Mega Tax software for Will Jones, LLP, show a correct understanding of fixed and variable costs. The variable cost per unit is constant at $10 per tax return. However, the fixed annual fee of $500 spreads out differently over the volume of tax returns, making the total cost per return decrease as volume increases.
The company incurs a fixed cost of $500 annually regardless of how many tax returns they prepare. This is why it's cheaper on a per return basis when more returns are prepared. The $500 cost is spread over more returns, reducing the cost per return. On the other hand, each return incurs a variable cost of $10. So, the marginal cost of each return changes with the volume of business. This is why the cost per return differs at each of the three volume levels.
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Certain trends in the recent past have changed the way that businesses are managed and controlled. Four important recent business trends have been: increased transparency, globalization, increased use of information technology, and renewed focus on corporate governance. Which of the following best exemplifies the trend toward the increased use of information technology?
a. High-tech companies have research labs, development centers, and call centers in emerging markets like China and India. These markets give them the benefit of cost-effective services, a qualified workforce, and competitive pricing.
b. Companies are benefiting from e-commerce by buying and selling their products and services to consumers online.
c. Steps have been taken to enhance the interaction between shareholders and company managers so that managers work toward achieving the primary goal: maximize shareholder wealth.
Answer:
b. Companies are benefiting from e-commerce by buying and selling their products and services to consumers online.
Explanation:
This is the example that shows the pure application of IT in business. E-commerce platforms are something every business that has an online presence has in common. Although businesses can differ by industry or niche, e-commerce is a common information technology trend.
The A. answer may indicate that it is IT related, but it is actually more related to globalization and outsourcing.
After a gas pipeline ex osion that destroyed homes and injured dozens of people, Pacific Power Company publicly unveiled a new mission statement with a greater focus on safety and corporate accountability.
A. Changing communication technologies
B. Renewed emphasis on ethics
C. Heightened global competition
D. Saves Continue
Answer:
B. Renewed Emphasis on Ethics
Explanation:
The gas explosion destroying many homes and injuring people is primarily a Social Responsibility issue which speaks to the accountability of an organisation to the society or the people who are affected directly or indirectly by their business operations.
Pacific Power issued a statement focusing on safety and corporate accountability which means it sees that it needs reinforce its outlook on Corporate Social Responsibility. As such it is an ethical issue.
Business ethics actually deals with those practices and policies that surrounding the way a business carries out its daily operations. It will usually address controversial issues such as bribery, corporate governance and most especially corporate social responsibility.
The statement issued by the company is a renewed emphasis on ethics.
Diaz Company owns a milling machine that cost $126,600 and has accumulated depreciation of $92,600. Prepare the entry to record the disposal of the milling machine on January 3 under each of the following independent situations.
1. The machine needed extensive repairs, and it was not worth repairing. Diaz disposed of the machine, receiving nothing in return.
Record the disposal of the machine receiving nothing in return.
2. Diaz sold the machine for $17,500 cash.Record the sale of the machine for $17,500 cash.
3. Diaz sold the machine for $34,000 cash.
Record the sale of the machine for $34,000 cash.
4. Diaz sold the machine for $40,900 cash.
Record the sale of the machine for $40,900 cash.
Answer:
The Journal entries are as follows:
(i)
Accumulated Depreciation - Machine Equipment A/c Dr. $92,600
Loss on Disposal A/c Dr. $34,000
To Machine Equipment $126,600
(To record the disposal)
(ii)
Cash A/c Dr. $17,500
Accumulated Depreciation - Machine Equipment A/c Dr. $92,600
Loss on sale/disposal A/c Dr. $16,500
To Machine Equipment $126,600
(To record the sale)
(iii)
Cash A/c Dr. $34,000
Accumulated Depreciation - Machine Equipment A/c Dr. $92,600
To Machine Equipment $126,600
(To record the sale)
(iv)
Cash A/c Dr. $40,900
Accumulated Depreciation - Machine Equipment A/c Dr. $92,600
To Gain on sale/disposal A/c $6,900
To Machine Equipment $126,600
(To record the sale)
Borrowers who met certain requirements for mortgages, such as minimum income level relative to the total mortgage amount, could obtain mortgages that were qualified to be securitized. Such mortgages were called_________________.
Answer:
Subprime or Alt-A mortgages
Explanation:
Generally, there are three types of mortgages: prime mortgage, subprime mortgage, and Alt-A mortgage.
Prime mortgages are mortgages that are usually given to people with excellent credit rating, who can meet all requirements and they are considered as high quality borrowers. Therefore, the interest rates they are offered usually relatively low.
Subprime mortgages are mortgages that are usually given to people with poor credit ratings or histories, who cannot meet all requirements to be given conventional mortgages and are considered as low quality borrowers. Therefore, the interest rates they are offered usually relatively high because the mortgage is considered as the riskiest.
The full meaning of Alt-A mortgage is Alternative A Mortgages which is a type of mortgages for people whose credit ratings or risk profiles lie between prime and subprime. The holders can meet more requirements than the holders of subprime mortgage but not as much as the holders of a prime mortgage. This mortgage is riskier than the prime mortgage but less risky than subprime mortgage. Therefore, the interest rates it offered are therefore higher than what the holder of prime mortgage get but it lower than the interest rates offered to the holders of subprime mortgage.
Best of luck.
The Larson and Gobeli study that compared projects that had been managed in a variety of structural types revealed that new product development projects tended to be MOST effectively executed when the organizational structure was a: Project matrix. Balanced matrix. Project organization. Functional matrix.
Answer:
The correct answer is letter "C": Project organization.
Explanation:
Gobeli, D. and Larson, E. published in the Project Management Journal (1987) the Relative effectiveness of different project structures after their study on how projects are organized and how that organization affects the results of the team. According to them, superlative effectiveness is accomplished in project organization structures.
A Devil Team is a team that does not simply agree on what you say, but rather critique your ideas in order to create something better.
True or false?
Answer:
The statement is: True.
Explanation:
In management, devil teams are those composed of individuals who tend to have a critical way of thinking about ideas or methods of working proposed. Their objective is not to play the role of antagonists but to expose possible weak points on what is being proposed to them to improve it.
Patrice sells a parcel of land for $50,000 cash and the buyer assumes Patrice's liability of $7,000 on the land. Patrice's basis in the land is $40,000. What is the gain or loss she will recognize on the sale?
Answer:
Gain of $17,000
Explanation:
The basis of Patrice's land is $40,000 and he sells it for $50,000. That is a $10,000 gain because he sold the land for $10,000 more than his basis in the land. But also the buyer assumed Patrice's liability of 7,000, which means that Patrice had to pay someone $7,000 but now the buyer of the land will make this obligation which means that this 7,000 is also part of the gain on sale of land. So the total Gain is 10,000 +7,000= $17,000.
Who are the key participants in the transactions of financial institutions a. ndividualsb. businessesc.governments
Answer:
The correct answers are letters "A", "B", and "C": individuals; businesses; and governments.
Explanation:
A financial transaction is an economic agreement or moves handled by a buyer and a seller where an asset is given in exchange for payment. The participants in these types of activities are individuals and businesses who can play the role of buyers and sellers and vice-versa, and the government granting that minimum legal conditions are provided for those transactions to take place.
The owner of Marshall Restaurant is disappointed because the restaurant has been averaging 7,500 pizza sales per month, but the restaurant and wait staff can make and serve 10,000 pizzas per month. The variable cost (for example, ingredients) of each pizza is $1.55. Monthly fixed costs (for example, depreciation, property taxes, business license, and manager's salary) are $12,000 per month.
Sales price is $10 per pizza. The owner wants cost information about different volumes so that some operating decisions can be made.
Fill in the following chart to provide the owner with the cost information.
Monthly Pizza Volume 6,000 7,500 10,000
Total fixed costs
Total variable costs
Total costs
Fixed cost per pizza
Variable cost per pizza
Average cost per pizza
Selling price per pizza
Average profit per pizza
Answer:
No of units 6,000 7,500 10,000
Total fixed cost $12,000.00 $12,000.00 $12,000.00
Total variable cost $9,000.00 $11,250.00 $15,000.00
Total cost $21,000.00 $23,250.00 $27,000.00
Fixed cost per pizza $2.00 $1.60 $1.20
Variable cost per pizza $1.50 $1.50 $1.50
Average cost per pizza $3.50 $3.10 $2.70
The cost is the expenditure required to produce or sell the product or get an asset ready for normal use. In other words, it is the amount paid to manufacture a product, sell merchandise, purchase inventory or get the equipment ready to use in a business process.
What does the definition of the term cost?
In accounting, the costs are defined as the cash amount or the cash equivalent given up for an asset. Cost includes all costs necessary to get an asset in place and ready for use. For example, the cost of an item in inventory also includes the item's freight-in cost. The cost of land includes all costs to get the land ready for its use.
No of units 6,000 7,500 10,000
Total fixed cost $12,000.00 $12,000.00 $12,000.00
Total variable cost $9,000.00 $11,250.00 $15,000.00
Total cost $21,000.00 $23,250.00 $27,000.00
Fixed cost per pizza $2.00 $1.60 $1.20
Variable cost per pizza $1.50 $1.50 $1.50
Average cost per pizza $3.50 $3.10 $2.70
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Which of the following is NOT a skill the authors say managers must have to be successful?
a. technical knowledge
b. creativity
c. human relations skills
d. critical thinking skills
Answer and Explanation:
b. creativity
Answer:
The correct answer is letter "B": creativity.
Explanation:
There are many skills managers must meet to conduct business successfully. Planning, communication, decision-making, delegation, problem-solving, and motivation are the most common. Besides, it is important for high-rank executives to possess technical knowledge, human relations, and critical thinking skills. Creativity is also crucial but not necessary for a manager. It is vital though for the marketing department of an organization.
Bouchard Company's stock sells for $20 per share, its last dividend (D0) was $1.00, its growth rate is a constant 6 percent, and the company would incur a flotation cost of 20 percent if it sold new common stock. Which of the following is the cost of issuing new common stock? (Round off the answer to two decimal places.)a. 12.63 percentb. 11.96 percentc. 10.24 percent
Answer:
Option (A) is correct.
Explanation:
Given that,
Flotation cost, FC = 20 percent
Dividend growth rate, g = 6%
Share price, P = $20
Dividend in the next year, D1:
= 1 × 0.06
= 0.06
Cost of new equity:
= D1 ÷ [P × ( 1 - FC)] + g
= 1.06 ÷ [20 × (1 - 0.20)] + 0.06
= 1.06 ÷ (20 × 0.8) + 0.06
= 1.06 ÷ (16) + 0.06
= 0.06625 + 0.06
= 0.12625 or 12.63%
The cost of issuing new common stock is approximately 12.63%.
Explanation:To calculate the cost of issuing new common stock, we need to use the formula:
Cost of issuing new common stock = (D0 × (1 + g) / (P0 × (1 - F))) + g
Where:
D0 is the last dividend, which is $1.00g is the constant growth rate, which is 6%P0 is the stock price, which is $20.00F is the flotation cost rate, which is 20%Plugging in the values:
Cost of issuing new common stock = (1.00 × (1 + 0.06)) / (20.00 × (1 - 0.20)) + 0.06
Cost of issuing new common stock = 0.0667 + 0.06
Cost of issuing new common stock ≈ 0.1263 or 12.63%
Therefore, option a. 12.63 percent is the correct answer.
The decision of what entry mode to use is primarily based on all of the following factors EXCEPT: a. the firm's unique set of resources, capabilities, and core competencies. b. the country's situation and government policies. c. the industry's competitive conditions. d. the worldwide economic situation.
Answer:
Explanation:
It would be c
Choose the best and worst answer to the following question:
Suppose your supervisor returns from vacation and notices that the work area looks terrible. You also had the last two days off. He's angry and criticizes you for being careless and sloppy. This wasn't your fault.
What would you do?
A. Tell him it wasn't your fault and not to criticize you unjustly.
B. Let the coworkers responsible know that you had to take the heat.
C. Suggest he talk directly to the people who left the place a mess.
D. Straighten up the department and try to reason with him later.
E. Take it up with your supervisor's boss.
Answer:
Choose the best and worst answer to the following question:
Suppose your supervisor returns from vacation and notices that the work area looks terrible. You also had the last two days off. He's angry and criticizes you for being careless and sloppy. This wasn't your fault.
What would you do?
Best answer: Let the coworkers responsible know that you had to take the heat.
worst answer: Tell him it wasn't your fault and not to criticize you unjustly.
Explanation:
______ reports contain unaudited financial statements and are submitted quarterly to the SEC.
Answer:
Quarterly report
Explanation:
Quarterly report is the report which is issued by the companies in every quarter (which is 3 months), it is a report which describes as the collection or the summary of the financial statements, that are unaudited ( it involves the cash flow statements, balance sheets and income statements).
And every traded public companies need or require to file their reports with the SEC (which stands for Securities Exchange Committee).
Therefore, the quarterly reports are the one which contain the unaudited financial statements and submitted to quarterly with SEC.
John Daniel opened a medical practice in Sacramento, California, and had the following transactions during the month of January.
Jan. 1 The business received $34,000 cash and issued common stock to Daniel.
2 Purchased medical supplies on account, $17,000.
4 Performed services for patients receiving $1,600.
12 Paid monthly office rent of $3,000.
15 Recorded $7,000 revenue for services rendered to patients on account.
Journalize the transactions of John Daniel, M.D. Include an explanation with each entry.
Answer:
Explanation:
The journal entries are shown below:
1. Cash A/c Dr $34,000
To Common stock A/c $34,000
(Being the cash is received in exchange of common stock)
2. Medical supplied A/c Dr $17,000
To Account payable A/c $17,000
(Being the medical supplies are purchased on account)
3. Cash A/c Dr $1,600
To Service Revenue A/c $1,600
(Being the cash is received for service performed)
4. Office Rent Expenses A/c Dr $3,000
To Cash A/c $3,000
(Being the office rent expense is paid for cash)
5. Accounts Receivable A/c Dr $7,000
To Service revenue A/c $7,000
(Being the service revenue is recorded)
The transactions of John Daniel, M.D. are recorded in a specific order: Issue of common stock, purchase of medical supplies on account, cash earned from patient services, rent payment, and revenue recorded from services on account. Each of these transactions affects the business' assets, liabilities, and owner's equity.
Explanation:Here is how we can journalize the transactions of John Daniel, M.D.
Jan. 1: Debit Cash $34,000; Credit Common Stock $34,000 (Explanation: The business issues common stock to John Daniel, increasing both the business' assets (Cash) and owner's equity (Common Stock).)Jan. 2: Debit Medical Supplies $17,000; Credit Accounts Payable $17,000 (Explanation: The business purchases medical supplies on account, increasing both the business' assets (Medical Supplies) and liabilities (Accounts Payable).)Jan. 4: Debit Cash $1,600; Credit Service Revenue $1,600 (Explanation: The business earns revenue by rendering services, increasing both the business' assets (Cash) and owner's equity (Service Revenue).)Jan. 12: Debit Rent Expense $3,000; Credit Cash $3,000 (Explanation: The business pays rent, decreasing the business' assets (Cash) and increasing its expenses (Rent Expense).)Jan. 15: Debit Accounts Receivable $7,000; Credit Service Revenue $7,000 (Explanation: The business earns revenue on account, increasing both the business' assets (Accounts Receivable) and owner's equity (Service Revenue).)Learn more about Journalizing transactions here:https://brainly.com/question/32325411
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Bonka Toys is planning to buy a robot costing $75,000.
After 5 years its salvage value will be $18,000.
An overhaul costing $10,000 will be needed in Year 3.
Operations and Maintenance costs will be $2000 per year.
What is the cash flow stream for using this robot?
The cash flow stream for using the robot is -$75,000, $2,000, $2,000, -$10,000, $2,000, $2,000, $2,000, $18,000. The cash flow stream is -$75,000 (Year 0), -$2,000 (Year 1), -$2,000 (Year 2), -$12,000 (Year 3), -$2,000 (Year 4), and $16,000 (Year 5).
Explanation:Using the given information, we can calculate the cash flow stream for using the robot. The initial cost of the robot is $75,000, and after 5 years, it will have a salvage value of $18,000. Additionally, an overhaul costing $10,000 will be needed in Year 3, and there will be operations and maintenance costs of $2,000 per year. Therefore, the cash flow stream for using the robot can be calculated as follows:
-$75,000 (initial cost)$2,000 (Year 1 operations and maintenance costs)$2,000 (Year 2 operations and maintenance costs)-$10,000 (overhaul cost in Year 3)$2,000 (Year 3 operations and maintenance costs)$2,000 (Year 4 operations and maintenance costs)$2,000 (Year 5 operations and maintenance costs)$18,000 (salvage value after 5 years)So the cash flow stream for using the robot is: -$75,000, $2,000, $2,000, -$10,000, $2,000, $2,000, $2,000, $18,000.
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On April 1, the cash account balance was $19,850. During April, cash receipts totaled $301,720 and the April 30 balance was $14,290. Determine the cash payments made during April.
ANSWER
$307,280
EXPLANATION
Cash is an asset to a business and the most liquid of all of its assets.
Using the double-entry accounting system, cash transactions are recorded as follows:
Increase in cash Debit
Decrease in cash Credit
The cash balance at the end of the period is determined as follows:
$
Cash balance at the beginning xxx
Add cash receipt during the period xxx
Less cash payment made (xxx)
Cash balance at the end xxx
We can apply this to the question:
14,290 = 19850 + 301, 720 - y (let y denote cash payment )
y = 19,850 + 301,720 - 14,290
y = 307,280
cash payment made $307,280
Final answer:
The cash payments made during April were $307,280, calculated by subtracting the beginning balance and end balance from the total cash inflows.
Explanation:
To determine the cash payments made during April, we need to use the cash account information provided. We have the beginning balance, the cash receipts, and the ending balance. The formula to find the cash payments is:
End Balance = Begin Balance + Cash Inflows - Cash Outflows.
Let's plug in the numbers:
( $14,290 = $19,850 + $301,720 - Cash Outflows\)
By rearranging the equation to solve for cash outflows, we find:
Cash Outflows = Begin Balance + Cash Inflows - End Balance
Cash Outflows = $19,850 + $301,720 - $14,290 = $307,280.
Therefore, the cash payments made during April were $307,280.
An economist is interested in studying the incomes of consumers in a particular country. The population standard deviation is known to be $1,000. A random sample of 50 individuals resulted in a mean income of $15,000. What is the upper end point in a 99% confidence interval for the average income (as a whole number without a dollar sign)?
Answer:
The upper end point in a 99% confidence interval for the average income is 15,364.
Explanation:
We have that to find our [tex]\alpha[/tex] level, that is the subtraction of 1 by the confidence interval divided by 2. So:
[tex]\alpha = \frac{1-0.99}{2} = 0.005[/tex]
Now, we have to find z in the Ztable as such z has a pvalue of [tex]1-\alpha[/tex].
So it is z with a pvalue of [tex]1-0.005 = 0.995[/tex], so [tex]z = 2.575[/tex]
Now, find M as such
[tex]M = z*\frac{\sigma}{\sqrt{n}}[/tex]
In which [tex]\sigma[/tex] is the standard deviation of the population and n is the size of the sample.
[tex]M = 2.575*\frac{1000}{\sqrt{50}}= 364.15[/tex]
The upper end of the interval is the mean added to M. So it is 15000 + 364.15 = 15,364.15 dollars.
So the upper end point in a 99% confidence interval for the average income is 15,364.
To calculate the upper end point in a 99% confidence interval for the average income, we can use the formula: upper end point = mean + (z * (standard deviation / sqrt(sample size))).
Explanation:In this question, the economist is interested in studying the incomes of consumers in a particular country. The population standard deviation, which represents the variation in incomes of the entire population, is known to be $1,000. The economist took a random sample of 50 individuals, and the mean income of this sample is $15,000.
To calculate the upper end point in a 99% confidence interval for the average income of the entire population, we can use the formula: upper end point = mean + (z * (standard deviation / sqrt(sample size))), where z is the z-score corresponding to the desired confidence level.
For a 99% confidence level, the z-score is approximately 2.576. Substituting the values into the formula, we get: upper end point = $15,000 + (2.576 * ($1,000 / sqrt(50))). Evaluating this expression gives us the upper end point as a whole number without a dollar sign.
uppose you bought a 20-year, $1,000 face-value bond for par 5 years ago. The annual coupon rate on this bond is 8.5% and interest payments are paid annually. If returns required by bond holders are now 1.5% higher than they were 5 years ago, then how much of a decrease have you experienced in the price of your bond
Answer:
Explanation:
Face Value=1000
Remaining term=15years
coupon rate=8.5% =YTM
purchased 5 years ago
Purchase price=1000
Current required rate of return=8.5%+1.5%=10%
Current price of bond = Coupon amount*PVIFA(RR,N)+Maturity value*PVIF(RR;N)=1000*8.5%*PVIFA(10%;15)+1000*PVIF(10%;15)=85*7.6061+1000*0.2394=885.9185
Decrease in the bond=1000-885.9185=114.0815
7. If the variable cost per unit increases by $1, spending on advertising increases by $1,400, and unit sales increase by 180 units, what would be the net operating income?
Complete Question:
Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000 units (the relevant range of production is 500 units to 1,500 units):
Sales ---------------------22,400
Variable Expenses -------12,800
Contribution Margin -----9,600
Fixed Expenses -----------7,968
Net Operating Income ---1,632
If the variable cost per unit increases by $1, spending on advertising increases by $1,400, and unit sales increase by 180 units, what would be the net operating income?
Solution:
Sales (current) = 22,400
Sales (revised) =[(1,000 + 180) X 22,400/1,000] = 26,432
Variable Expenses (current) = [12,800/1000 = 12.80] = 12,800
Variable Expenses (revised) = [12.80 + 1 = 13.8; 13.8 X 1,250] =17,250
Contribution Margin (current) = 9,600
Contribution Margin (revised) = 11,125
Fixed Expenses (current) = 7,968
Fixed Expenses (revised) = [7,968 + 1,400] = 9,348
Net Operating Income =[11,125 - 9,348]= 1,777
This question is incomplete, here is the complete questions:
Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000 units (the relevant range of production is 500 units to 1,500 units):
Sales: $20,000 Variable expenses: $12,000 Contribution margin: $8,000 Fixed expenses: $6,000Net operating income: $2,000If the variable cost per unit increases by $1, spending on advertising increases by $1,400, and unit sales increase by 180 units, what would be the net operating income?
Answer:
Sales: ((1000+180)=1180 units) * (($20,000/10)=$20) = $23,600
Variable Expenses: 1180 units * ((($12,000/1000)+1) = $13) = $15,340
Contribution Margin (Sales - Variable Expenses): $8,260
Fixed Expense (Variable Expense - Contribution Margin): $7,400
Net Operating Income (Contribution Margin - Fixed Expense): $860
Which of the following statements are examples of labor except:
A) a computer programmer debugs a complicated piece of code that permits a computer program to function properly.
B) a company manager develops a spreadsheet of all of the products of the company with the accompanying profits of each in order to weed out poor performing ones.
C) a group of church members gather clothes for a clothing drive for the poor in their community.
D) a mechanic replaces the water pump on a car at the local Ford dealership.
Answer:
C) a group of church members gather clothes for a clothing drive for the poor in their community.
Explanation:
The stated example is and example of voluntary work, which by most statutes does not count as labor. Although volunteering is technically work, it does not count as labor as volunteers are not paid for what they do. Instead, they do it for an ethical purpose which is not related to getting money. Therefore, volunteers do not coun as the working labor force.
Labor, in an economic sense, refers to human effort exerted in the production of goods and services. Thus, gathering clothes for a clothing drive, though valuable, would not be considered labor. Activities like programming, managing company products, and car maintenance would be.
Explanation:In Economics, labor is defined as the human effort put into the production of goods and services. Thus, Activities A, B, and D would be examples of labor. In contrast, Activity C, where church members gather clothes for a clothing drive, would not generally count as labor in the economic sense, as they are not engaging in paid work or directly contributing to the production of goods and services. It's important to note that while this work may not be classified as 'labor' in an economic context, it is nonetheless valuable and important to society.
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A ________ tariff is designed to raise the price of imported products so that domestic goods are more competitively priced. a. revenue b.progressivec. restrictive protective
Answer:
The correct answer is letter "D": protective.
Explanation:
Protective tariffs are the ones a country imposes over imports to protect domestic production. Typically, this type of tariff brings economic trade war between the countries imposing the tariffs since they affect the revenues especially of the exporter country.
A protective tariff is imposed to raise the cost of imported goods, making domestic ones more competitively priced. This helps protect domestic industries from foreign competition.
Explanation:A protective tariff is designed to raise the price of imported products so that domestic goods are more competitively priced. Protective tariffs aim to protect domestic industries from foreign competition by increasing the price of imported goods. For example, if the country imports cars, a protective tariff can be placed on those to make local cars cheaper in comparison, thereby favoring the domestic automotive industry.
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Chick-fil-A’s "Eat Mor Chikin" advertising campaign features three cows holding signs that say things like "Save the cows, eat more chicken."If consumers began eating more chicken and less beef, would the cattle population increase or decrease? Explain.
Answer:
If consumers began eating more chicken and less beef, the cattle population would decrease.
Explanation:
Once the consumers shift to consuming more chicken than beef, the demand for beef would automatically go down. With an initiated increase in the consumption of chicken, the price of chicken would go up owing to the increase in demand and limited supply. Hence, people would look for alternatives to chicken and turn back to beef as the chicken would be unaffordable.Final answer:
Consumers eating more chicken and less beef would likely lead to a decrease in the cattle population.
Explanation:
Consumers eating more chicken and less beef would likely lead to a decrease in the cattle population. This is because the demand for beef would decrease, causing a shift in the demand curve for beef to the left. As a result, farmers would produce less beef, leading to a decrease in the number of cattle being raised.
________ from the manufacturer or service provider is the set of firms that supply the raw materials, components, parts, information, finances, and expertise needed to create a product or service.
Answer: Upstream from
Explanation:
The upstream is one of the processing from the service provider or the manufacturer that helps in providing the various types of information, raw materials, components and the finances for creating the different types of products and the services in the market.
The Upstream is refers to the first step for producing the products and then the products are deliver to the customers or users in the form of upstream in the supply chain system.
Therefore, Upstream is the correct answer.
Your salary was $32,000 in 2014. It increased to $35,000 in 2015. What was the percentage increase in your salary from 2014 to 2015?
The percentage increase in salary from 2014 to 2015 can be calculated using the formula (New Value - Old Value) / Old Value * 100%. Plugging in the provided values, the percentage increase is found to be 9.375%.
Explanation:The subject of this question is the percentage increase in a numerical value. Specifically, you had a salary of $32,000 in 2014, and it rose to $35,000 in 2015. You're asked to find the percentage increase in your salary from 2014 to 2015.
The formula for finding the percentage increase is: (New Value - Old Value) / Old Value * 100%.
In this case, the Old Value is $32,000, and the New Value is $35,000.
So, the calculation will be: ($35,000 - $32,000) / $32,000 * 100% = 9.375%.
So, the percentage increase in your salary from 2014 to 2015 was 9.375%.
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When the new manager told Cora, _________, to use high-pressure sales tactics with customers, Cora worked hard to carry out this instruction. Cora did this even though she knew customers would probably dislike being treated this way and take their business elsewhere.
Answer:
a conformist.
Explanation:
A professional with conformist behavior, like Cora, is one whose focus is to follow the orders of his superiors, performing tasks with an effective job and in accordance with what management requires, even if such conduct is unethical or causes some problem in relation to work. The conformist profile will do everything as requested without contesting or measuring the consequences, as they consider that avoiding conflict with their superiors is the best way to perform a job with quality and effectiveness.
Answer:
A conformist
Explanation:
A comformist is someone who follows traditional paths and does not try to deviate. In an office settings there are known as yes-men willing to follow rules and avoid arguments
Conformists do not consider the consequences of what they are being asked to do. They work hard and please their bosses by being completely obedient. This is why Cora is known as one.