Answer:
The correct answer is letter "C": class factors.
Explanation:
American sociologist Herbert Gans (born in 1927) in his book "The Levittowners" (1967) concludes after the observation of residents in Long Island (New York) that demographic factors like class, ethnicity, and culture are variables affecting the lifestyle of the neighborhood. In fact, class is the most important of all three that drive the community to success.
Herbert J. Gans argues that individual effort and socioeconomic factors can exert more influence than ethnic culture on the social mobility and success of ethnic groups. However, other scholars emphasize the need to consider multiple factors such as societal constructs and institutional biases, suggesting that the scope is broader than what Gans posits.
Explanation:Herbert J. Gans argues that certain socioeconomic factors account for more than ethnic culture in explaining the social mobility and success of ethnic groups. This emphasizes the belief that personal willpower and hard work are significant drivers to climbing the social ladder in American society, along with other factors such as education, economic structures, and political factors.
For instance, Gans highlighted these ideas in his study titled 'First Generation Decline: Downward Mobility among Refugees and Immigrants' showing that social mobility is not as easy to achieve as many people believe. Besides, socioeconomic classes or stratification, through factors like wealth and education, play a significant role.
However, other scholars critique this perspective, emphasizing the influence of societal constructs, such as racism and prejudice or institutional bias, on social mobility. This reflects that the success of ethnic groups cannot be entirely credited to specific factors and that a more comprehensive approach incorporating several factors including ethnic culture and socioeconomic factors is necessary for understanding social mobility.
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"________ marketers use online marketing to reach new business customers, serve current business customers more effectively, and obtain buying efficiencies and better prices."
Answer:
The correct word for the blank space is: Business.
Explanation:
Information Technology is part of nowadays business. It is a tool that lowers barriers for buyers and sellers from different regions to meet. From the sellers' end, it allows them to know more about customers, what their needs are, and also to have an overall idea of what their competitors might be doing to improve their marketing processes and boost sales.
The gross domestic product (GDP) of the United States is defined as themarket value of allfinal goods and services produced within the United States in a given period of time.
true-false
Answer:
true
Explanation:
Gross domestic product is the sum of all final goods and services produced in an economy within a given period which is usually a year.
GDP can be calculated using the expenditure approach.
GDP = Consumption spending + Investment + Government Spending + Net Export
GDP of the US for the 3rd quarter of 2019 was $5,385,635 million
I hope my answer helps you
Early in a project when very little detail is known about a project, it is impractical to render even a rough estimate of the final project cost.
True or False?
Answer:
The statement is: False.
Explanation:
The main purpose of project planning is determining the cost of handling a business to find out what is the amount of investment needed to keep the business going. Since the beginning, all the efforts of project planning involve coming up with all the factors that could involve offering a good or service and what their costs would be.
The statement is False. Rough estimates of the final project cost early on are feasible using expert insights and past project data. These early estimates provide a preliminary budget that can be refined as more details become available.
Estimating the final project cost early in a project's timeline can be challenging when there is little detail known about the project.
However, it is not impractical. Professionals in project management often use rough estimates or high-level approximations, even with limited information, by leveraging past experiences, expert insights, and statistical methods.These estimates, albeit rough, offer a preliminary budget which can be refined as more details emerge. The quality of any estimate is highly impacted by the planning horizon, with closer future activities resulting in more accurate estimates.Therefore, the statement is False. Estimations, even rough ones, are often necessary and feasible with the use of expert knowledge and past project data.There are many potential goals of a corporation, such as: minimize costs, maximize sales, maximize employment, maximize earnings, maximize shareholder wealth, maximize dividend payments, etc. Which one is the best for the long-term health of the company and society?
Answer:
The best for long-term health of the company and society is maximize the shareholder wealth.
Explanation:
'Shareholder wealth' means the market price of common stock of a firm. The goal to maximize the shareholder wealth means that management should try to make the current value of the returns as maximum that are expected in future, for the shareholders of the firm.
'Market value' means the value at which the stock trades in the market, like what is its price in 'New York Stock Exchange' is its market value. So, out of the given goals, to maintain a good health of company for a long time, it should maximize the shareholder wealth.
What is the present value of following streams of future cash flows if the discount rate is 11%?
Year 1: $10,000
Year 2: $11,000
Year 3: $13,000
a. $35,847
b. $27,949
c. $33,521
d. $29,067
e. None of the above
Answer:
b. $27,949
Explanation:
The computation of the present value is presented below
Year Amount DF factor @ 11% Present value
1 $10,000 0.90909 $9,090.91
2 $11,000 0.82645 $9,090.85
3 $13,000 0.75131 $9,767.03
Total $27,948.79
The present value of the given future cash flows at a discount rate of 11% is calculated using the present value formula, leading to a sum of $27,546.11, which means the correct answer is 'e. None of the above'.
The question asks about the present value of future cash flows given a discount rate of 11%. To determine the present value, we apply the formula for calculating the present value of a future payment:
PV = FV / (1 + r)ⁿ
Where, PV is the present value, FV is the future value, r is the discount rate, and n is the number of years until payment.
Applying this formula, we calculate the present values for each year's cash flows:
Year 1: PV = $10,000 / (1.11)¹ = $9,009.01
Year 2: PV = $11,000 / (1.11)² = $8,954.95
Year 3: PV = $13,000 / (1.11)³ = $9,582.15
Summing these gives us the total present value: $9,009.01 + $8,954.95 + $9,582.15 = $27,546.11. Hence, the correct answer is e. None of the above.
Sheridan Auto Supply does not segregate sales and sales taxes at the time of sale. The register total for March 16 is $26,400. All sales are subject to a 10% sales tax. Compute sales taxes payable, and make the entry to record sales taxes payable and sales revenue.
Answer and Explanation:
Compute sales taxes payable:
cash $26,400 -
sales revenue - $23,760
sales tax payable - $2,640
make the entry to record sales taxes payable and sales revenue:
sales tax payable $2,640 -
cash - $2,640
Answer:
Explanation:
Sales revenue x (100%+sales tax rate) = sales revenue with tax
sales revenue x 1.10 (100%+10%) = 26400
sales revenue = 26400/1.10
sales revenue = 24000
Sales revenue with tax - sales revenue = sales tax
26,400 - 24,000 = 2,400
journal entry
cash. 26,400
Sales revenue. 24000
Sales tax. 2400
The publisher from needs to change his calculations. Before the book is actually produced, rising paper costs increase variable costs to $2.10 per book. If the company wants to start making a profit at the same production level as before the paper cost increase,
for how much should they sell the book now?
The publisher should increase the selling price of the book by the amount the variable costs have increased due to the rise in paper costs, in order to maintain the same profit levels. In this case, the selling price should be increased by $0.10.
Explanation:Given that the variable cost per book has increased from $2.00 to $2.10 due to rising paper costs, the publisher must adjust the selling price to maintain the same profit level. If the publisher was previously selling the book at a price 'P,' then the profit per book was (P - $2.00). Now, considering the increased variable cost to maintain the previous profit, the book's selling price should be (P + $0.10), an addition representing the rise in the cost of paper.
So if, for example, the original selling price of the book was $5.00, to start making a profit at the same production level as before the paper cost increase, the publisher should now sell the book for $5.10.
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We observe that total costs increase from $1,500 to $1,800 when a firm increases output from 40 to 50 units. Which of the following is true if marginal cost is constant?
a. Fixed Cost = $100
b. Fixed Cost = $200
c. Fixed Cost = $300
d. Fixed Cost = $400
Answer:
c. Fixed Cost = $300
Explanation:
Because marginal cost is constant we can find the variable cost per unit and then subtract the total variable cost from the total cost in order to find the fixed cost. The firms total cost increase $300 (from 1500 to 1800) when output increases by 10 units (from 40 to 50), so the variable cost per unit is 300/10=30.
Now to calculate the total variable cost we will multiply variable cost per unit by the number of units.
50*30= 1500
Now we will subtract 1500 from 1800 in order to find the fixed cost.
1800-1500=300
Fixed cost is $300.
In this scenario, the firm's fixed cost would likely be around $300, not $100, $200, or $400, as stated in the choices. This calculation assumes a constant marginal cost.
Explanation:In this scenario, the marginal cost is the cost of producing one additional unit. Since the marginal cost is constant, it remains the same for every additional unit produced. Therefore, if the total cost increases by $300 ($1,800-$1,500) to produce 10 more units (50-40), the marginal cost is $300/10 = $30 per unit.
The fixed cost, however, remains the same regardless of the level of output. Therefore, none of the options provided could be the fixed cost since none of them refer to costs that would remain the same regardless of output levels.
However, if we were to estimate the fixed cost in this scenario, we would subtract the total variable cost (which is the number of units times the marginal cost) from the total cost. For example, if there are 40 units going to 50 units, the total variable cost would be 50*$30 = $1500. The total cost is stated to be $1800. Therefore, the fixed cost would be $1800 - $1500 = $300.
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1. Wholesale Banners pays $ 240 comma 000 cash for a group purchase of land, building, and equipment. At the time of acquisition, the land has a market value of $ 25 comma 000, the building $ 150 comma 000, and the equipment $ 75 comma 000. Journalize the lump-sum purchase.
Answer:
To journalize the lump-sum purchase;
Item Value
Land $24,000
Building value $144,000
Equipment value $72,000
Lump-sum value $240,000
Explanation:
Step 1: Determine the total market value of the acquisition
Total market value=land+building+equipment market value
where;
land market value=$25,000
building market value=$150,000
equipment market value=$75,000
replacing;
Total market value=25,000+150,000+75,000=$250,000
Step 2: Determine the proportion of market value that contributes to the lump-sum
Land value=(land market value/total market value)×lump-sum
Land value=(25,000/250,000)×240,000=$24,000
Building value=(Building market value/total market value)×lump-sum
Building value=(150,000/250,000)×240,000=$144,000
Equipment value=(Equipment value/total market value)×lump-sum
Equipment value=(75,000/250,000)×240,000=$72,000
Step 3: Journalize the lump-sum purchase
To journalize the lump-sum purchase;
Item Value
Land $24,000
Building value $144,000
Equipment value $72,000
Lump-sum value $240,000
Deluxe Company expects to pay a dividend of $2 per share at the end of year 1, $3 per share at the end of year 2, and then be sold for $32 per share at the end of year 2. If the required rate of return on the stock is 15 percent, what is the current market value of the stock?
Answer:
The current price of the stock is $28.20
Explanation:
The stock rate of return is 15% this includes both, the dividends and capital gains. Therefore, we should discount our expected cash flow at the required return rate:
Year 1:
2 / (1 + 0.15) = 2 / 1.15 = 1.73913
Year 2:
(3 dividends + 32 stock) / 1.15^2 = 35/ 1.3225 = 26.4650
Then we add both discounted cash flow:
1.73913 + 26.4650 = 28.20413
The current market value of the Deluxe Company stock is calculated by discounting the future dividends and sale price using a 15% rate of return. It amounts to $28.2377 per share after adding the present values of the expected dividends and the sale price together.
To calculate the current market value of the Deluxe Company stock, considering the expected dividends and the sale price at the end of year 2, we would discount these future cash flows back to their present value using the required rate of return, which is 15%. The present value of the year 1 dividend ($2) is calculated by dividing $2 by (1+0.15)1. The present value of the year 2 dividend ($3) is calculated by dividing $3 by (1+0.15)2. And finally, the present value of the sale price ($32) at the end of year 2 is calculated by dividing $32 by (1+0.15)2. Adding these present values together gives us the stock's current market value.
The present value calculations for each cash flow stream are:
Year 1 dividend: $2 / (1.15)1 = $1.7391
Year 2 dividend: $3 / (1.15)2 = $2.2660
Sale price at the end of year 2: $32 / (1.15)2 = $24.2326
Adding these up, the current market value of the stock is $1.7391 + $2.2660 + $24.2326 = $28.2377 per share.
If the corporate form of business organization has so many advantages over the sole proprietorship, why is it so common for small businesses to initially be formed as sole proprietorships?
Final answer:
Small businesses often start as sole proprietorships due to their simplicity, owner autonomy, and the ease of starting up without the need for significant capital or dealing with extensive regulations. While corporations offer limited liability and easier fund-raising capabilities, they come with more complexity and formal requirements.
Explanation:
Despite the advantages of the corporate form, sole proprietorships are common among small businesses primarily due to their simplicity and ease of formation. Sole proprietorships require less capital to establish, involve less paperwork, have no specific regulatory body to govern them, and provide the owner with complete control over business decisions. Additionally, sole proprietors enjoy all profits directly but at the cost of personal liability for business debts and obligations. In contrast, corporations provide limited liability, easier access to investment, and perpetual existence but require more complex processes to set up, including government permissions, and are subject to more regulations and double taxation.
Sole proprietorships remain the initial choice for many entrepreneurs because starting one doesn't require the legal formalities or capital that forming a corporation does. The ability to retain full control and benefit from all profits without having to adhere to corporate formalities or share profits with shareholders often outweighs the personal risks associated with owning a sole proprietorship.
Generally, when business startup costs exceed the maximum amount allowed, the remaining costs may be amortized over_____ months.(A) 240(B) 180(C) 120(D) 60
Answer:
The correct answer is letter "B": 180.
Explanation:
During the first year a business operates, companies can elect to deduct up to $5,000 from their costs. If the costs are higher than $50,000, the deduction of $5,000 will be reduced by the exceeding amount. However, that exceeding amount can be amortized for up to 15 years (180 months).
On September 30, 2018, the San Fillipo Corporation issued 8% stated rate bonds with a face amount of $340 million. The bonds mature on September 30, 2038 (20 years). The market rate of interest for similar bonds was 10%. Interest is paid semiannually on March 31 and September 30.
Required:
Determine the price of the bonds on September 30, 2018. (Enter your answers in whole dollars. Round your final answers to nearest whole dollar amount.)
Answer:
The price of the bond is $281.6 million
Explanation:
In order to calculate the price of the bond we need to know its par value/future value which is given to us as $340 million, the interest rate which is also given to us as 10%, the payments which are 8% of the face value and number of periods to maturity. However because this is a semi annual bond we will have to adjust the interest rate, payments and number of periods accordingly.
Interest = 10/2= 5% because semi annual
Payment = 0.08* 340 million *0.5= 13 .6 million
Number of periods = 20*2=40
Now we will input the following into a financial calculator in order to find the price of the bond.
FV= 340 million
I=5
N= 40
PMT= 13.6 million
Compute PV=281.6 million
Types of Economic Data For each of the following e whether the data are cross-section, time series or panel data. (a) Quarterly data on the level of U.S. new housing construction from 2000 to 2018. (b) Data on number of doctor visits in 2018 for a sample of 192 individuals. (c) Data on annual health expenditures for each U.S. state from 2000 to 2018. (d) Data on usual mode of transportation used to commute to work for a sample of 151 individuals. xamples state whether the data are numerical or categorical, and state
Answer:
A. Time series
B. Cross Sectional
C. Panel
D. Cross Sectional
Explanation:
(a) Quarterly data on the level of U.S. new housing construction from 2000 to 2018, Time series data, numerical
(b) Data on number of doctor visits in 2018 for a sample of 192 individuals. Cross sectional data, numerical
(c) Data on annual health expenditures for each U.S. state from 2000 to 2018. Panel Data, Numerical
(d) Data on usual mode of transportation used to commute to work for a sample of 151 individuals. Categorical
Last year Randolph Company had sales of $325,000 and a net income of $19,000, and its year-end assets were $250,000. The firm's total-debt-to-total-assets ratio was 45.0%. What was total assets turnover, what was equity multiplier, what was profit margin, and what was the ROE?
Answer:
13.82%
Explanation:
Data provided in the question:
Sales = $325,000
Net income = $19,000
Assets = $250,000
Total-debt-to-total-assets ratio = 45.0% = 0.45
Now,
Total asset turnover = Sales ÷ Total assets
= $325,000 ÷ $250,000
= 1.3
Profit margin = Net income ÷ Sales
= $19,000 ÷ $325,000
= 0.05846
Equity multiplier = 1 ÷ [ 1 - Debt to asset ratio]
= 1 ÷ [ 1 - 0.45 ]
= 1.818
thus,
ROE = Profit margin × Total asset turnover × Equity multiplier
= 0.05846 × 1.3 × 1.818
= 0.1382
or
= 0.1382 × 100%
= 13.82%
You would like to implement an interval DRO procedure with one of your students with autism to decrease hand flapping (so that you can get the student to attend to her work eventually). You conduct some baseline observations and find that the student stops flapping her hands for about 2 minutes on average. What would an appropriate initial DRO interval be
Answer: one minute, forty-five seconds(1:45secs)
Explanation: DRO (DIFFERENTIAL REINFORCEMENT OF OTHER BEHAVIOR) is a procedure used to reinforce or reward a student of an undesireable or negative Behavior was not repeated over a given period of time. This approach is positive and not Purnishment or penalty is involved in this procedure, in certain instances it requires a 1:1 Student: Teacher ratio and an observer who is independent to record data and where necessary, It usually doesn't put the students under any pressure or compulsion.
Fill in the missing numbers for the following income statement. (Input all amounts as positive values. Do not round intermediate calculations.)
Sales $ 687,900
Costs 442,800
Depreciation 115,400
EBIT $
Taxes (30%)
Net income $
Calculate the OCF.
What is the depreciation tax shield?
Answer:
OCF = $206,190
Depreciation tax shield = $34,620
Explanation:
The computation of the depreciation tax shield is shown below:
= Depreciation × tax rate
= $115,400 × 30%
= $34,620
And the operating cash flow is
= EBIT + Depreciation - Income tax expense
where,
EBIT = Sales - cost of good sold - depreciation expense
= $687,900 - $442,800 - $115,400
= $129,700
And, the income tax expense is
= (Sales - cost of good sold - depreciation expense) × tax rate
= ($687,900 - $442,800 - $115,400) × 30%
= $129,700 × 30%
= $38,910
So, the OCF is
= $129,700 + $115,400 - $38,910
= $206,190
A collection of related activities that produce a produce or service of value to an organization is known as a business alignment
True
False
Answer:
The statement is: False.
Explanation:
A business process is the set of steps structured in a company to manufacture a product or to render services. A business alignment represents the consensus among the different departments of a firm to achieve the common goal all of them work for.
Shen spends $200 to purchase legal service from Rowan and Martin Associates. Valerie spends $8 to order a mojito cocktail. Shen earns $375 per week working for Little Havana. Which of the elements of this scenario represent a flow from a household to a firm? This could be a flow of dollars, inputs, or outputs. Check all that apply. The $375 per week Shen earns working for Little Havana The $200 Shen spends to purchase legal service from Rowan and Martin Associates The mojito Valerie receives
The flows from a household to a firm are the $200 Shen spends on legal services and the labor Shen provides to Little Havana in exchange for his weekly earnings of $375.
Explanation:In this scenario, the elements representing a flow from a household to a firm are the $200 Shen spends to purchase legal service from Rowan and Martin Associates and the $375 per week Shen earns working for Little Havana. Here's why:
When Shen pays $200 for legal services, this is a flow of dollars from Shen (a household) to Rowan and Martin Associates (a firm).The $375 Shen earns weekly is a flow of dollars from Little Havana (a firm) to Shen (a household). However, in exchange for this income, Shen is providing labor to Little Havana, which is an input to the firm from the household.Learn more about Economic Flow here:https://brainly.com/question/33276150
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Storm, Inc. purchased the following available-for-sale securities during 2016, its first year of operations:
Name Number of Shares Cost
Dust Devil, Inc. 1,900 $81,700
Gale Co. 850 68,000
Whirlwind Co. 2,850 114,000
Total $263,700
The market price per share for the available-for-sale security portfolio on December 31, 2016, was as follows:
Market Price per Share,
Dec. 31, 2016
Dust Devil, Inc. $40
Gale Co. 75
Whirlwind Co. 42
Required:
a. Provide the journal entry to adjust the available-for-sale security portfolio to fair value on December 31, 2016
b. Is there any impact of December 31, 2016 journal entry on the income statement?.
Answer:
As per accounting standards available-for-sale securities are recorded at fair value through profit and loss account or other comprehensive income. We assume that company choose to record it at fair value through profit and loss account.
The answer of each requirement is given below.
a. Provide the journal entry to adjust the available-for-sale security portfolio to fair value on December 31, 2016
Loss on valuation $ 4,250
Investment Cost $ 4,250
Working
Dust Devil, Inc. = 40 * 1900 = 76,000 - 81,700 = -5,700
Gale Co. = 75 * 850 = 63,750 - 68,000 = -4,250
Whirlwind Co. = 42 * 2850 = 119,700 - 114,000 = 5,700
Profit/ (Loss) = (4,250)
b. Is there any impact of December 31, 2016 journal entry on the income statement
The company income for the year will be reduced by ($ 4,250).
Suppose we have a 2-person world, with only Stephen and his friend LeBron. Suppose that Stephen can move 70 boxes or bake 28 cookies in an hour. Suppose that LeBron could move 16 boxes or bake 4 cookies in an hour. Is trade possible?
A. No, trade isn’t possible, because LeBron has an absolute advantage in both making cookies and moving boxes.
B. Yes, trade is possible. Stephen should move boxes while LeBron makes cookies, because Stephen has a comparative advantage in moving boxes, whereas LeBron has a comparative advantage in making cookies.
C. Yes, trade is possible. Stephen should make cookies while LeBron moves boxes, because Stephen has a comparative advantage in making cookies and LeBron has a comparative advantage in moving boxes.
D. No, trade isn’t possible, because Stephen has an absolute advantage in both making cookies and moving boxes.
Answer:
Option (c) is correct.
Explanation:
Stephen can move 70 boxes or bake 28 cookies in an hour:
Opportunity cost of producing a box = (28 ÷ 70)
= 0.4 cookies
Opportunity cost of producing a cookie = (70 ÷ 28)
= 2.5 boxes
LeBron could move 16 boxes or bake 4 cookies in an hour:
Opportunity cost of moving a box = (4 ÷ 16)
= 0.25 cookies
Opportunity cost of making a cookie = (16 ÷ 4)
= 4 boxes
Therefore,
Stephen has a comparative advantage in making cookies because the opportunity cost of making cookies is lower than the LeBron.
LeBron has a comparative advantage in moving boxes because the opportunity cost of moving boxes is lower than the Stephen.
Yes, the trade is possible.
Stephen should make cookies and LeBron should move boxes.
What do you believe are the two most significant components of the medical billing workflow?
Answer:
Explanation:
Six critical components for medical calculation (the first two are the most important):
1: Eliminate confusion that it is really an invoice.
Insured patients often receive two service-related communications - a certificate of benefit from an insurance company (EOB) and an invoice from a health care professional. EOBs usually include service history, work done, who the provider is, the amounts allowed under the insurance plan, adjustments, deductions and patient liability.
2: Make sure the patients know what the invoice is.
For recurrent patients, there may be confusion as to what service or design the bill is about. Specify the date of service, medical care, and services provided so that the patient can see the amount paid.
3: Provide clear line items showing prepaid patient payments (co-payments) and contributions from the insurance company.
Explain to patients what credits are already used in the invoice. This can help insurers understand what they contribute, personal responsibility, and promote timely payments.
4: Provide invoices as patients wish to receive.
For some patients, paper invoices may be the method they choose to consult with health care providers. For others, electronic invoices may be more appropriate. Paper sheets can offer patients the opportunity to pay by check, write their payment card information, or use an online portal that supports one-time guest payments. Electronic invoices can reduce the cost of printing and shipping paper invoices, eliminate delays in document invoices, and provide direct access to online portals where they can edit and manage their billing practices.
5: Provide patients with different options to pay.
As patients prefer paper or electronic invoices, they have choices about how they want to pay. Some love the convenience of paying with a credit card, while others may opt for cash, check or debit card transactions. From billing solutions that support multiple payment methods and payment channels to credit card transactions on mobile devices, one billing solution can increase your ability to pay on time.
6: Help patients along the way.
No matter how much a health worker strives to meet the needs of his patients, patients will have questions regarding referral reports. Useful support professionals (both online and by phone) can provide easy access, help patients better understand their laws and encourage their timely payment.
The two most significant components of the medical billing workflow are Patient Registration and Claims Submission. Patient Registration involves gathering and updating the patient's information, while Claims Submission involves billing the insurance company for services provided.
Explanation:In my opinion, the two most significant components of the medical billing workflow are Patient Registration and Claims Submission. Patient Registration is the first and one of the most crucial steps where a record of each patient is created or updated, including their medical history, current diagnosis, and insurance details. Incorrect information in this stage may lead to claim denials later. Claims Submission, on the other hand, is the stage when the healthcare provider submits a claim to the insurance company for the services provided. Any errors in coding, documentation, or submission can result in rejected or denied claims, hyrting the efficiency of the entire process.
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Imaging Services was organized on March 1, 2018. A summary of the revenue and expense transactions for March follows:Fees earned $1,100,000Wages expense 715,000Rent expense 80,000Supplies expense 9,000Miscellaneous expense 12,000Prepare an income statement for the month ended March 31.
Answer:
Income statement of Imaging services for the month ended March 31, 2018.
Amount in $'000 Amount in $'000 Revenue 1,100
Cost of sales (Supplies expense) (9)
Gross income 1,091
Operating expenses
Wages expense 715
Rent expense 80
Miscellaneous expense 12
(807)
Net operating income 284
Explanation:
The income statement is one that that shows the revenue and expenses of an organization accumulating to the net income of the organization.
It considers all elements of cost from the cost of sales to all operating expenses and is given over a period.
After you collect data on risks and recommendations, you include that information in a report, and you give that report to management. Why do you do this?
Answer:
becauase if you dont then, if that problem ever continues again and you are for some reason not there that day then, your boss would need to know how to fix it
Explanation:
A fee interest timeshare divides the ownership of a unit into separate time intervals.
A. True.
B. False.
Answer:
The correct answer is letter "A": True.
Explanation:
A fee interest timeshare or a simple fee represents the highest possible ownership interest someone can hold in real estate. It implies the property in reference is deeded so it is provided officially the owners to the document holder. Thus, that individual could use the property at will.
The following information pertains to Eagle Co.'s Year 5 sales: Cash Sales Gross $ 80,000 Returns and allowances 4,000 Credit sales Gross 120,000 Discounts 6,000 On January 1, Year 5, customers owed Eagle $40,000. On December 31, Year 5, customers owed Eagle $30,000. Eagle uses the direct write-off method for bad debts. No bad debts were recorded in Year 5. Under the cash basis of accounting, what amount of net revenue should Eagle report for Year 5?
Answer:
The amount of net revenue Eagle should report for Year 5 is $ 80,000.
Explanation:
Under Cash basis of accounting revenue and expenses are recorded when payment against them is made or received. Expenses and revenues incurred are not relevant.
The amount of net revenue will comprises of revenue received in cash during the reporting period. Detail Calculations are given below.
Cash Sales $ 80,000
Returns and allowances ($ 4,000)
Discounts ($ 6,000)
Opening Receivable $ 40,000
Closing Receivable ($ 30,000)
Net revenue $ 80,000
Final answer:
Eagle Co. should report a net revenue of $76,000 for Year 5 under cash basis accounting, calculated by subtracting returns and allowances ($4,000) from cash sales ($80,000).
Explanation:
To calculate Eagle Co.'s net revenue for Year 5 under cash basis accounting, we begin by considering only the actual cash transactions. We will add the cash sales and subtract any returns and allowances, while credit sales and receivables are not considered under cash basis accounting unless cash is actually received.
Here is the breakdown: Cash Sales are $80,000 and Returns and Allowances are $4,000. We don't include Credit Sales, Discounts, or the beginning and ending accounts receivable because these do not represent cash exchanged during the year.
Net Revenue = Cash Sales - Returns and Allowances
= $80,000 - $4,000
= $76,000.
The net revenue that Eagle Co. should report for Year 5 is $76,000.
The requirement that there should be reasonable support for a tax return position before a CPA recommends it to a client most directly aligns with which tax standard?
Answer:
There is a realistic possibility of success if the tax position is challenged.
Explanation:
A CPA should refrain from preparing a tax return which is only based on false numbers, or where the fees of the CPA is dependent on the tax liability generated for the client.
Check My Work (1 remaining) Fraud detection is an important element of minimizing losses from fraud, and it is important that frauds be detected as early as possible. Early detection is important because, in most cases, losses are greater at the beginning of a fraud and decrease significantly over time. a. True b. False
Explanation:
The early detection of fraud needs to be done for the following reason:
Fraud will continue if not found earlier and thus leads to greater lossThe fraud team is not widen before huge loss happensEasy to recoverPossibility of finding the loop holes even if it is from external sourcesDetects weakness in the internal control and eradicate and make the system secureAvoid huge loss and threatsTo gain profitsTo keep up the name of the organizationTo bring business and to retain customers
when a company in the United States employs people in India to answer there customer service calls, this is an example of ___?
(a.) traditional careers
(b.) outsourcing
(c.) entrepreneurship
(d.) non-traditional careers
Answer: Its b
Explanation: Yea this is a wired one but it for sure b
When a company in the United States employs people in India to answer their customer service calls, this is an example of outsourcing. Thus, the correct option is (B).
Outsourcing is a contract in which one business employs another company to be responsible for a planned or current operation that would otherwise be or might be carried out internally, i.e. in-house.
It may also include the transfer of workers and assets from one organization to another.
Companies also utilize outsourcing to scale back and focus on the core components of their business, offloading less vital processes to third-party organizations.
Therefore, the correct option is "B".
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At an activity level of 9,400 machine-hours in a month, Curt Corporation's total variable production engineering cost is $823,440 and its total fixed production engineering cost is $195,020.
What would be the total production engineering cost per hour, both fixed and variable, at an activity level of 9,800 machine-hours in a month?
Answer:
$107.5 per machine hour.
Explanation:
Step 1: Calculate the total production engineering cost per hour at activity level of 9,800 machine hours in a month
a. Calculate the Variable cost per Unit = total variable cost/units produced
= $823,440/9400 (initial machine hours)
= $87.6 per machine hour
b. calculate the total variable cost for 9,800 machine hours
=variable cost per unit x 9,800 hours
= $858,480
c. Calculate total production cost for 9,800 hours
=total variable cost + fixed cost
= $858,480 + $195,020
= =$1,053,500
d) calculate the production engineering cost per unit
= Total cost for 9,800/ number of hours
=$1, 053, 500 / 9800 hours
=$107.5 per machine hour.