Answer:
c. $44,289.03
Explanation:
Given that: present value = $25000, rate = 10%, n = 6 years. Then the future value can be determined by:
FV = PV[tex](1+r)^{n}[/tex]
where: FV is the future value, PV is the present value, r is the rate and n is the number of years.
So that:
FV = 25000[tex](1 + 0.1)^{6}[/tex]
= 25000[tex](1.1)^{6}[/tex]
= 25000 x 1.771561
= 44289.025
FV = 44289.03
The price that the landowner would receive today is $44,289.03.
Mario a publicly held corporation with a 21 percent tax rate, has agreed to pay an annual salary of 1.3 million to its employees Mrs. ryman in making your calculations ignore the employer payroll tax
Answer:
ah
Explanation:
At the end of 2021, Windsor Co. has accounts receivable of $749,900 and an allowance for doubtful accounts of $23,580. On January 24, 2022, it is learned that the company’s receivable from Madonna Inc. is not collectible and therefore management authorizes a write-off of $4,564.
(a)
Prepare the journal entry to record the write-off. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Answer:
DR Allowance for Doubtful Debt $4,564
CR Accounts Receivable $4,564
Using the Allowance method means that an allowance has already been provided from which uncollectible accounts will be deducted from.
When an amount is uncollectible therefore, it will be debited to the Allowance account to reduce it. Accounts receivable will be credited to recognise that a receivable is now uncollectible.
Southeast Airline had retained earnings of $1.5 million, sales of $5 million and net income of $0.5 million this year. It also paid dividends of $0.2 million this year. If the sales is projected to increase by 20% next year, what is the projected retained earnings for next year?
Answer:
$1.86 million
Explanation:
Given the above data, we can calculate the retained earning for next year to be;
Retained earning this year end = $1.5 million retained earning at the beginning + $0.5 million net income - $0.2 million dividends
= $1.8 million
A user access agreement typically is __________ than the list of employee expected behaviors within an organization.
Answer:
Narrower
Explanation:
To make sure that all employees that work in an organization know all their responsibilities, that is ethical and legal. They are required to review and to also accept the terms that has been stated in the user access agreement form.
So for this question, the user access agreement is narrower than the list of employees expected behavior in an organization.
If you earn 10% per year on your bank account, how long will it take an account with $105 to double to $210? Do not round intermediate celculations. Round your answer to 2 decimal places.) Number of years _________.
Answer:
n= 7.27 years
Explanation:
Giving the following information:
Interest rate= 10%
Future value (FV)= $210
Present value (PV)= $105
To calculate the number of years to double the investment, we need to use the following formula:
n= ln(FV/PV) / ln(1+i)
n= ln(210/105) / ln(1.1)
n= 7.27 years
Johnson corporation began the year with inventory of 14,000 units of its only product. units cost $8 each. The company uses a Perpetual inventory system and the fifo cost method. The following transactions occurred during the year: a. purchase 70,000 additional units at a cost of $10 per unit. Terms of the purchases were 2 /10 n/ 30, and 100% of the purchases were paid within the 10-day discount. The company uses the gross method to record purchase discounts. The merchandise was purchased f. O. B. Shipping point and Freight charges of $0.40 per unit were paid by Johnson. b. 1400 units purchased during the year will return to suppliers for credit. Johnson was also given credit for the freight charges of $0.40 per unit it had paid on the original purchase. The units were defective and were returned two days after they were received. c. sales for the year totaled 65,000 units at $18 per unit. d. on December 28th Johnson purchased 5400 additional units at $10 each. The goods were shipped f. O. B. Destination and arrived at Johnson's Warehouse on January 4th of the following year e. 17600 units were on hand at the end of the year. required: 1. for financial reporting purposes, the company uses lifo (amounts based on the Periodic inventory system). Record the year-end adjusting entry for the lifo reserve, assuming the balance in the lifo Reserve at the beginning of the year it's $15,800 2. determine the amount the company would report as income before taxes for the year under lifo. Operating expenses other than those indicated in the above transactions amounted to $158,000
Dufner Co. issued 14-year bonds one year ago at a coupon rate of 7.9 percent. The bonds make semiannual payments. If the YTM on these bonds is 5.6 percent, what is the current dollar price assuming a par value of $1,000
Answer:
Bond price= $1,210.4
Explanation:
Giving the following information:
Coupon rate= 0.079/2= 0.0395
YTM= 0.056/2= 0.028
Face value= $1,000
n= 13*2= 26
To calculate the price of the bond, we need to use the following formula:
Bond Price= cupon*{[1 - (1+i)^-n] / i} + [face value/(1+i)^n]
Bond price= 39.5*{[1 - (1.028^-26)]/0.028} + [1,000 / 1.028^26]
Bond price= 722.67 + 487.73
Bond price= $1,210.4
According to the basic quantity equation of money, if price and output fall while velocity increases, then:
Answer:
The quantity of money will fall
Explanation:
basic quantity equation of money's theory stressed that the general price of goods/services is attributed to the flow of money in circulation, I.e they have a linear relationship.The equation below gives the relationship between the quantity of money as well as price level. MV = PT
Where M = quantity of money
V =velocity of circulation
P = price level
According to the basic quantity equation of money, It should be noted that if price and output fall while velocity increases, then The quantity of money will fall.
Professional Properties is considering remodeling the office building it leases to Heartland Insurance. The remodeling costs are estimated at $3.4 million. If the building is remodeled, Heartland Insurance has agreed to pay an additional $820,000 a year in rent for the next 5 years. The discount rate is 15 percent. What is the benefit of the remodeling project to Professional Properties? A) -$651,233 B) -$489,072 C) $5,214 D) $128,399 E) $311,417
Answer:
A) -$651,233
Explanation:
The computation of the benefit generated of the remodelling project is shown below:
If we considered the discounted rate i.e. 15% for 5 years of $820,000 so its present value would be $2,748,767 ($820,000 × 3.3521)
And, the predicted cost is $3,400,000
So here the cost is there instead of the benefit of
= $2,748,767 - $3,400,000
= -$651,233
Hence, the correct option is A
Jerry works as an accountant in a manufacturing firm. His firm has sold goods to customers on credit, while the full payment for the goods is expected after a month. In which category should Jerry mention the price of these goods? A. accounts payable B. accounts receivable C. cost of goods sold D. depreciation E. operating expenses
Answer:
If we are talking about the price Jerry and his firm purchased goods for I would say "Cost of goods sold", if we are talking about the revenue that will be collected from customers in the future I would say "accounts recceivable"
Explanation:
Answer:
the answer is b. accounts receivable
Explanation:
a word-for-word copy from edmentum:
"Accounts receivable: Let’s say that a business sells goods to a customer on credit. The customer plans to make the payment a few months later. A business recognizes this amount as a current asset called accounts receivable until it receives the payment."
Dominic is an architect and wants to represent a pocket door in the plan. Which symbol should he use?
Answer:
The answer is C.
A trading arrangement that eliminates most or all barriers to trade among participating nations and utilizes common barriers to trade with other countries outside the group is called a
Answer:
preferential trade agreement
Explanation:
This agreement is known as a preferential trade agreement. It is called this because it tends to make it easier for specific goods to be traded but only to the countries that are part of the group and/or agreement. This agreement also makes it harder for countries that are not part of the agreement to be able to trade with the countries that are in order to maintain the countries within the agreement trading with each other.
June Corp. sells one product and uses a perpetual inventory system. The beginning inventory consisted of 100 units that cost $20 per unit. During the current month, the company purchased 580 units at $20 each. Sales during the month totaled 450 units for $43 each. What is the number of units in the ending inventory?
Answer:
Ending inventory in units= 230
Explanation:
Giving the following information:
Beginning inventory= 100 units
Purchases= 580 units
Sales during the month totaled 450 units
To calculate the ending inventory in units, we need to use the following formula:
Ending inventory in units= total units - units sold
Ending inventory in units= 680 - 450
Ending inventory in units= 230
Under the ABC costing method,
a. departments are identified as activities.
b. activity rates are calculated by dividing the budgeted activity cost by the total activity-base usage.
c. the budgetary activity costs are assigned to products using factory overhead rates for each activity.
d. All of these choices are correct.
Answer:
d. All of these choices are correct.
Explanation:
Activity Based Costing system is the cost attribution to cost units (products) on the basis of benefits received from indirect activities, that is overheads that can not be allocated to a particular product or process.
So the process involves identifying activities driving the overheads. Determining the activity rates and assigning the costs using activity rate.
So, all the options given are applicable.
Sheridan Company receives a $14000, 3-month, 8% promissory note from Carla Vista Company in settlement of an open accounts receivable. What entry will Sheridan Company make upon receiving the note?
Answer and Explanation:
The journal entry to record while receiving the note is shown below:
Notes receivable Dr. $14,000
To Accounts receivable $14,000
(Being receiving of the note is recorded)
Here the note receivable is debited as it increased the assets and credited the account receivable as it decreased the assets
The same is to be considered
Under the Real Estate Law of California, an agent is required to give a copy of the listing agreement to his principal at:__________.
a. the close of escrow.
b. the beginning of escrow.
c. once the buyer has signed it.
d. at the time of signing.
Answer:
d. at the time of signing.
Explanation:
Under Section 10142 of real estate law agent has to submit a copy of the listing agreement to the principal.
Section 10142 of the real estate law of California is attached with this is attached please find it.
Headers and footers are handling instructions. True False
Answer:
False
Explanation:
Answer:
its true
Explanation:
edg got it correct
Irfan runs a small business. His business’s total liabilities amount to $200,000. His net profit for the latest accounting period is $50,000. The total value of all the business assets comes to $600,000. What is the debt to asset ratio in the case of Irfan’s business? The debt to assets ratio of Irfan’s business, to two decimal places, is percent.
Small businesses are either services or retail operations like grocery stores, medical stores, tradespeople, bakeries, and small manufacturing units.
What is the meaning of Small businesses?Small companies typically offer services or are retail establishments like grocery stores, pharmacies, tradesmen, bakeries, and micro-manufacturing facilities. Small businesses are privately held companies that need less equipment, labor, and cash than larger companies.
The most straightforward type of business is a sole proprietorship. Small businesses are distinct legal entities such as corporations, partnerships, and sole proprietorships that have fewer employees and/or lower yearly income than a regular-sized company. Businesses are considered "small" if they are eligible for government assistance and favorable tax treatment.
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Macroeconomic is the branch of economics that focuses on ?
Answer:
economic principles affecting entire countries
Explanation:
What is the value today of receiving $5,000 at the end of six years, assuming an interest rate of 8% compounded semiannually?
Answer:
$3,122.96
Explanation:
Future value = 5000
i = 8%
n = 6
m = 2
Present Value = FV(1+i/m)^mn
Present Value = 5,000(1+0.08/2)^-2*6
Present Value = 5,000(1.04)^-12
Present Value = 5,000 / (1.04)^12
Present Value = 5,000 / 1.6010322
Present Value = 3122.985284118583
Present Value = $3,122.96
The manager of Lawn and Garden Services would like to estimate the proportion of her employees' time spent performing various gardening and lawn care activities. She has made 400 random observations of a typical worker, with the following results:
Activity Time Observed
Mowing 200
Trimming 80
Raking 40
Miscellaneous 80
What is the probability that the true proportion of time spent mowing is exactly equal to the sample proportion?
a) 1
b) 0
c) .5
d) .2
e) 1
Answer:
b) 0
Explanation:
In this case, the manager observed that a worker spent 50% of his/her time mowing the garden, but in case this is correct, it would only apply to this worker. She would need to collect data and analyze it from a much larger sample which includes other workers in order to determine if this proportion applies to whole group. You cannot infer a conclusion based on a limited amount of data collected from just one subject. The methodology is incorrect.
Jessica thinks that she might have made a mistake on her tax return and paid more tax than she needed to. Complete the statements describing
what Jessica can do.
Answer:
Jessica thinks that she might have made a mistake on her tax return and paid more tax than she needed to. Complete the statements describing what Jessica can do.
Jessica can hire
a certified public accountantto check her tax return. If a mistake is found, Jessica can file Form
1040Xto have the IRS correct the mistake and refund any excess taxes she paid.
I guessed and got it right checked on my quiz
Jessica paid more tax than she needed to because she made a mistake on her tax returns. Here's a list of things she can do to correct her mistake:
A) Wait for IRS correction.
What is IRS correction?
IRS, or the Internal Revenue System, might rectify the miscalculation and notify Jessica about the same through a letter. In that case, IRS will intimate Jessica about the changes along with the list of steps she needs to follow to fix the mistake.
B) Fill out the 1040X form.
What is Form 1040X?
In case Jessica doesn't want to wait for IRS to fix the mistake, she can correct it by herself. Jessica can apply to rectify her mistake through form 1040X. It is the only form she can file to correct the previous mistake on her tax returns. The form can be downloaded as a pdf and is easy to fill. It acts as a rectification to form numbers 1040, 1040A, 1040EZ, 1040NR, and 1040NR-EZ. She should not apply for a new 1040. However, Jessica should keep a copy of 1040 with her.
There are three columns in form 1040X. Jessica needs to sum up the original 1040 in the first column. In the second column, Jessica needs to highlight the modification. Jessica will have to write the amount she originally had to pay.
How should Jessica support her claims?
Jessica should explain her situation clearly in part three of the form. She should also attach the relevant documents to support her claim.
How to get a refund?
Jessica must file the 1040X in two to three years to receive a refund on her overpayment.
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A manager wishes to build a 3-sigma range chart for a process. The sample size is five, the mean of sample means is 16.01, and the average range is 5.3. What are the UCL and LCL, respectively, for this range chart?
a. 33.9 and 11.2
b. 6.3 and 0
c. 11.2 and 0
d. 33.9 and 0
Answer:
c. 11.2 and 0
Explanation:
The computation of the upper control limit and the lower control limit is shown below:
Average Range = R = 5.3
Now
The Upper control Limit is
= D4 × R
= 2.115 × 5.3
= 11.2095
And,
The Lower control limit is
= D3 × R
= 0 × 5.3
= 0
Hence, the correct answer is Option C i.e. 11.2 and 0
A competitive market is one in which:
a. few large sellers compete for a majority of the market share.
b. individual sellers and buyers have a lot of influence over market price.
c. government oversees its operation.
d. fully informed price-taking buyers and sellers easily trade a standardized good.
Answer:
d. fully informed price-taking buyers and sellers easily trade a standardized good.
Explanation:
A competitive market is a market where there is a large number of buyers and sellers that sell and purchased homogenous products. The sellers are to be considered as price takers also they cannot influence the price of the market. Plus, the demand for the perfect competition is perfectly elastic
Therefore the correct option is D.
What is the present calue of 1000 received 10 years in the future if interst rates are 10% compounded quarterly?
Answer:
The present value is $57.31.
Explanation:
Future value, FV = $ 1000, n = 10 years, rate = 10% and m = 3.
FV = PV[tex](1 + r)^{mn}[/tex]
where FV is the future value, PV is the present value, r is the rate, m is the number of periods, n is the number of ears.
⇒ 1000 = PV[tex](1 + 0.1)^{10*3}[/tex]
= PV[tex](1.1)^{30}[/tex]
1000 = PV x 17.4494
PV = [tex]\frac{1000}{17.4494}[/tex]
= 57.31
The present value is $57.31.
Ms. Smith employs 50 salespeople to sell copiers. If she wants information on the typical number of copiers sold by a salesperson, which Data Analysis tool should she use
Answer:
Descriptive statistics
Explanation:
If Ms smith wants information on the typical number of copiers sold by a salesperson she has to use descriptive statistics.
Descriptive statistics is used to describe data. It gives basic summary of the sample and also measures. It entails the usage and analysis of the collected data. Therefore descriptive statistics is the data analysis tool that she would need.
A stock had returns of 18.58%, -5.58%, and 20.81% for the past three years. What is the variance of returns?
Answer:
Variance = 0.02141851
Explanation:
We first calculate the mean for the stocks
Mean = (0.1858 - 0.0558 + 0.2081) / 3
Mean = 0.3381 / 3
Mean = 0.1127
Variance = [(0.1858 - 0.1127)^2 + (- 0.0558 - 0.1127)^2 + (0.2081 - 0.1127)^2] / 3 -1
Variance = [0.0731^2 + (-0.1685^2) + 0.0954^2] / 2
Variance = 0.00534361 + 0.02839225 + 0.00910116 / 2
Variance = 0.04283702 / 2
Variance = 0.02141851
The variance of returns is 0.02141851
A deposit of $1000 is made in a bank account that pays 24% interest per year compounded quarterly. Approximately how much money will be in the account after 10 years
Answer:
$10,285.72
Explanation:
In this scenario, we can use the compound interest formula to calculate the total after 10 years. The formula is the A = P * [tex](1 + r/n)^{nt}[/tex]
where,
A = final value after interest
P = initial investment amount
r = annual interest rate in decimal form
n = number of time the interest is compounded based on t
t = total amount of time
In this case, the interest is compounded quarterly meaning 4 times a year, therefore we can plug all the values into the formula and solve for A
A = P * [tex](1 + r/n)^{nt}[/tex]
A = 1000 * [tex](1 + 0.24/4)^{4*10}[/tex]
A = 1000 * [tex](1.06)^{40}[/tex]
A = 1000 * 10.2857
A = 10,285.72
Therefore after 10 years the account will have a total of $10,285.72
If a company has $10,000 in Cash, $2,000 in Accounts Receivable, $100,000 in Building and Land, $30,000 in Accounts Payable, and $20,000 in Notes Payable, how much is the business worth or what is its equity?
Answer:
the business is worth 162000
Explanation:
I added all of the stuff up to create a number have a nice day please
If a company has $10,000 in Cash, $2,000 in Accounts Receivable. The business worth and its equity is equal to $62,000.
What is the term Equity about?
Stockholders' equity, also referred to as shareholders' equity, it is the remaining amount of assets available to shareholders after all liabilities have been paid.
Given Information:
Cash=$10,000Accounts receivable=$2,000Building and land=$100,000Accounts payable=$30,000Notes payable=$20,000Solution:
Equity=Total assets- Total liabilities
Equity=$10,000+$2,000+$100,000-$30,000-$20,000
Equity=$62,000
Hence, the equity of a company is equal to $62,000.
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Cosplay Unlimited sells 1,140 outfits per year at an average price of $143. The terms of the sale are 1/15, net 40. The discount is taken by 71 percent of customers. What is the company's accounts receivable balance?
a. $19,651.73
b. $17,865.21
c. $9,937.52
d. $8,632.13
e. $7,326.74
Answer: c. $9,937.52
Explanation:
The Accounts receivable balance can be calculated by;
= Outfits per years * Average Price * (Collection period/365)
Collection period;
71% take the discount which means that they pay in 15 days while the rest pay in 40.
= (71% * 15) + (29% * 40)
= 22.25 days
Accounts Receivable balance = 1,140 * 143 * (22.25/365)
= $9,937.52