An economist would research historical data on changes in the supply of money and record how the price level changed as a result.
What does economist say about price level and supply of money?Typically, controlled laboratory studies that would produce data for testing economic models and theories are not feasible for economists. This is particularly true of models that describe the overall economy, such those that deal with the level of prices, the rate of inflation, and the rate of unemployment. It is improbable that the Federal Reserve would permit an economist to alter the money supply (and potentially have a significant impact on the economy) only to test an economic theory if the economist wished to test the above model linking the price point to the money supply. Instead, an economist would probably need to review the information that is already available on previous changes to the money supply and how the market price changed as a result.
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TRUE OR ALSE When firms in a purely competitive industry are earning profits that are greater than normal, the supply of the product will tend to decrease in the long run.
The statement above is false. It is because in the purely competitive industry, the supply of product will increase to fulfill the community needs.
In economic and business, A purely competitive market generally can be defined as a marketing situation in which there are a large number of sellers of a product which cannot be differentiated. The condition that happen in the purely competitive market is no one firm has a significant influence on price. There are several situation that can make purely competitive happen, there are many sellers, there is easy entry and exiting of firms, products are identical from one seller to another, and sellers are price takers.
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Other things equal, when the real interest rate rises, a number of investment projects become unprofitable, and investment spending in the economy: ___
decreases.
Other things equal, when the real interest rate rises, a number of investment projects become unprofitable, and investment spending in the economy decreases.
What is the interest rate?
The amount of interest due each period expressed as a percentage of the amount lent, deposited, or borrowed is known as an interest rate. The total interest on a loaned or borrowed sum is determined by the principal amount, the interest rate, the frequency of compounding, and the period of time the loan, deposit, or borrowing took place. For instance, if you borrow $100 at 5% interest, your repayment to the lender will be $105 dollars. The money lender will profit $5. You could experience many interest types during your life. Every loan has a different interest rate, which will affect how much money you actually owe.
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when determining tax rates, the government should take into account the income needs of individuals.
When determining tax rates, the government should take into account the income needs of individuals in order to ensure that the tax burden is fair and equitable.
For example, individuals living in high-cost areas may need to pay more in taxes than those living in lower-cost areas. Additionally, individuals with lower incomes may need to pay a lower rate of tax than those with higher incomes. Additionally, the government should consider the different types of income that individuals have. For example, individuals who are self-employed may need to pay a different rate of tax than those who are employed by a company. Furthermore, the government should consider the different types of expenses that individuals have, such as medical expenses, childcare costs, and educational expenses. By taking into account the different types of income and expenses that individuals have, the government can ensure that the tax burden is fair and equitable.
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2. Do you know anyone that could serve as a business
mentor like Jill's business consultant? Why are
mentors important?
Seth Lewis is on of the popular business consultant. Mentors can help your business succeed by providing insights from those who have gone before you.
What is an business consultant?A business consultant is someone who works closely with business owners and managers to improve the operations and efficiency of their companies. Business consulting entails assisting companies in identifying, addressing, and overcoming obstacles to meeting their objectives.
Business consultants can help your company with almost any need. Business consultants can specialise in specific industries, or they can take a more general approach. While specific services differ, the following are some of the most common.
Determine the impediments to growth or efficiency.Determine what changes are required and assist in the implementation of those changes.Provide staff and management with any necessary training and resources.Bring in novel ideas to revitalise a company.Assist with business planning and the establishment of new ventures.Learn more about Business consultants
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always classified as long-term investments. always classified as short-term investments. equity securities where significant influence involved. equity securities that a company intends and is able to hold to maturity. debt securities that a company intends and is able to hold to maturity.
Held-to-maturity securities are debt securities that a company intends and is able to hold to maturity.
Held-to-maturity (HTM) securities are debt instruments that a corporation plans and is able to hold to maturity; depending on their maturity date, they may be expressed as either short-term or long-term assets. These securities are ones that organisations buy with the intention of holding them till maturity.
These securities typically differ from purchasing and selling securities or securities that are available for sale, where businesses normally do not maintain securities directly until they mature. This type of insurance is accounted for as an amortized cost on a firm's financial statements. It is also included on the debt protection form with a chosen maturity date.
Complete Question
Held-to-maturity securities are:
a. Always classified as Long-Term Liabilities.
b. Equity securities that have a maturity value greater than cost.
c. Always classified as Long-Term Investments.
d. Equity securities that a company intends and is able to hold to maturity.
e. Debt securities that a company intends and is able to hold to maturity.
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Which of the following historical findings will most likely lead to a diagnosis of panic disorder?
O Chest pain
O Flashbacks
O Hyperarousal
O Loss of interest
true/false. to determine the for a given country for a given year, you need to know the total value of all goods and services a national economy produces during one year using its domestic factors of production plus its population.
true. GDP per capita to determine the for a given country for a given year, you need to know the total value of all goods and services a national economy produces.
during one year using its domestic factors of production plus its population. The gross domestic product, or GDP, of a country is often used to assess the size of its total economy. GDP is the value of all final products and services produced inside a country in a given year. A population's growth rate may be calculated similarly to any other growth rate calculation by taking the current population size and subtracting the prior population size. Subtract that much from the previous size. Divide the figure by 100 to obtain the percentage. The proper response is (i). The aggregate value of all final products and services at current prices is known as nominal GDP, whereas the aggregate value of all final goods and services at constant prices is known as real GDP.
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on march 1, 2017, taft corporation issues 10-year bonds on january 1, 2014 when the martket rate is 5%. interest is paid annually on december 31. w
The interest expense is paid annually on december 31 of the year is 8,000 and 24000.
What is interest?Interest is the cost of borrowing money, or the return on an investment. It is the amount of money paid by a borrower to a lender, or the amount earned by an investor for the use of their money. Interest is typically expressed as a percentage of the principal amount, and is usually paid periodically at intervals, such as monthly or annually. Interest can be calculated in a variety of ways, depending on the type of loan or investment. For example, simple interest is calculated as a percentage of the principal amount, while compound interest is calculated on the principal plus any accumulated interest.
How do you calculate the interest expense?
(800,000 x 0.06 x 2/12) = 8,000
1. Record bond issuance at par plus accrued interest
Debit: Cash 808,000
Credit:
- Bonds payable 800,000
- Interest expense 8,000
B) Calculate interest expense
(800,000 x 0.06 x 1/12) = 4,000
- 4,000 x 6 months = 24,000
Debit: Interest expense 24,000
Credit: Cash 24,000
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The complete question is:
March 1, 2017, Taft Corporation issues 10-year bonds, dated January 1, 2017, with a par value of $800,000. These bonds have an annual interest rate of 6 percent, payable semiannually on January 1 and July 1. . Because Taft issues the bonds between interest dates, it records the bond issuance at par plus accrued interest as follows
b)The purchaser advances 2 months interest. On July 1, 2017, four months after the date of purchase, Taft pays the purchaser six months' interest. Taft makes the following entry on July 1, 2017.
FILL IN THE BLANK ______ culture is exemplified by the ways people within a particular geographic area refer to product categories differently from people in other areas of the country.
Regional culture is exemplified by the ways people within a particular geographic area refer to product categories differently from people in other areas of the country.
What is regional culture?
Each area has its own unique cuisine, wardrobe, poetry, dance, music, and artistic expression, which are all referred to as the region's culture. Based on characteristics, we frequently recognise residents in a specific area. However, this isn't always the case because a region's culture develops as a result of the blending of local customs with those from other regions of the subcontinent. Give us additional information about the regional cultures that make up the Indian subcontinent.
Regional cultures of today frequently result from intricate interactions between regional traditions and ideas from other regions of the subcontinent. Some customs seem to be unique to certain areas.
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To detail inflation on a monthly basis, click on the ellipsis in the first column. Varying inflation cates can be applied throughout a single calendar year for different months. To apply inflation to the first year of the analysis select Modeling Policies from the ribbon and activate the Allow Inflation in Year One option.
The ellipsis in the first column can be clicked to display inflation data on a monthly basis.
Different inflation categories may be used for various months of a same calendar year. Select Modeling Policies from the ribbon and turn on the Allow Inflation in Year One option if you want to include inflation in the analysis's first year.Give a brief account on inflation.Inflation can be regarded as the rate of price growth over a given period of time. Examples of prominent broad measurements of inflation are the price of living in a nation or the general growth in prices. However, it can also be estimated more precisely—for example, for certain items like food or for services like getting a haircut. In any circumstance, inflation refers to the increase in price of the pertinent group of goods and/or services over a predetermined time frame, most frequently a year. The cost of living for consumers is influenced by the cost of several goods and services as well as their proportion in household spending. Government agencies conduct home surveys to identify a basket of regularly purchased goods and monitor the cost of these purchases over time to ascertain the average consumer's cost of living.
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The complete question is mentioned below :
How to detail inflation on a monthly basis?
Which of the following events would create a temporary tax difference with respect to either a deferred tax asset or deferred tax liability?a) cash dividends received by a corporation from another domestic corporation b) the use of the installment sales method for tax reporting purposes c) payment of federal and state income taxes d) Life insurance proceeds received on the death of an individual
The use of the installment sales method for tax reporting purposes.
What is deferred tax liability?A company's tax debt to the government that has not yet been settled is known as a deferred tax liability. The tax laws permit businesses to postpone or delay paying taxes on specific forms of accounting income, which gives rise to liability.
Do deferred income taxes represent a long-term obligation?Taxes that a business will someday pay on its own taxable income but are currently due to be paid are known as deferred taxes. Since there is typically no expectation that the tax liability would be paid within the following 12 months, it is frequently listed as a long-term obligation on the balance sheet.
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the fact that large firms like arthur anderson and worldcom fell to ethical lapses and can no longer hire college graduates is an example of how unethical marketing practices harm
These types of ethical lapses can lead to loss of trust from customers and investors, legal penalties, and damage to the company's brand. It also harms the graduates who would have been hired by these firms and the society as a whole.
It is therefore important for companies to prioritize ethical marketing practices in order to avoid these negative consequences. Unethical marketing practices refer to any advertising or promotional tactics that deceive, mislead, or exploit consumers. To avoid these negative consequences, companies should prioritize ethical marketing practices and adhere to industry standards and regulations.
Examples include false advertising, bait-and-switch tactics, and the use of subliminal messaging. These practices can harm consumers by leading them to make poor purchasing decisions, and they can also harm the reputation and long-term success of the companies that engage in them.
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A) Compare and contrast the characteristics of monopolistically competitive, monopolistic, and perfectly competitive markets.
B) Provide an organization that is an example of each and discuss how changes in their pricing affect your purchase decisions.
Characteristic of firms operating on each markets are:
Monopolistically competitive: Multiple firms in the market, unique products and non-substitutions, low entry barriersMonopoistic: one firm only, unique products and non-substitutions, high entry barriersPerfectly competitive: multiple firms in the market, no unique products and subtitutes for others, low entry barriers.Example of each markets are:
Monopolistically competitive: hairdressersMonopolistic: Gas petrolPerfectly competitive: farmers' marketMonopolisitcally competitive market have multiple firms in the market acting as price makers. Firms have total control of the market and creates high entry and exit barriers. Products in monopolistically competitive market are uniques.
Monopolistic market has one single firm operating in the market. Products in monopolistic market commonly are basic products such as gas petrol, electrics, and other common goods. Monopolistic market has high entry and exit barriers since the profit in this market is not high.
Perfectly competitive market has multiple firms acting as price takers because the supply and demand in the market decide the products' prices. This market has low entry and exit barriers but the firms in the market earned almost no profit.
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sophie tells nick about a great new restaurant. sophie is practicing . question 2 options: social advertising group advertising viral advertising word-of-mouth communication
Nick learns about a fantastic new restaurant from Sophie. Using "word of mouth communication," Sophie
Define the term mouth promotion?Word-of-mouth marketing is a strategy used to encourage casual conversations and endorsements for a service or business. Basically, it's encouraging people to speak about your company, brand, or product.
Everyone wants people to talk about company products because such discussions typically have a greater impact on sales than any other form of marketing.At minimum five times as many sales are generated from one offline word-of-mouth impression as there are from paid advertisements. Consumers have the highest level of trust for earned media (such as referrals from friends and family) at 92%. 8% of brand-related conversations take place online, while 90% take place offline.Thus, when Nick learns about a fantastic new restaurant from Sophie. Using "word of mouth communication," Sophie.
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The correct question is-
Sophie tells Nick about a new great restaurant. Sophie is practicing _______.
social advertising
group advertising
viral advertising
word-of-mouth communication
during the most recent year, banigo corporation experienced an increase in total assets of $72,600 and an increase in total liabilities of $40,900. assuming that capital stock increased by $5,000 and no dividends were paid, calculate banigo's net income or net loss for the end of the year.
Banigo's net income of $26,700. Net income is the amount of money you may have left over after taxes and other withholdings from your paycheck.
Net income is the amount of revenue received by an entity less costs of goods sold, expenses, depreciation and amortization, interest, and taxes for a particular accounting period. It is also referred to as total comprehensive income, net earnings, net profit, bottom line, sales profit, or credit sales in business and accounting. It is calculated as the sum of all sales and gains less all expenses and losses for the period and has further been described as the net growth in shareholders' equity as a result of a company's operations. It's distinct from gross income, which just subtracts the cost of products sold from revenue. Net income is defined as (gross) income less taxes and other deductions for households and individuals (e.g. mandatory pension contributions).
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a homeowner entered into a contract with a landscaper. the contract specified that the homeowner would pay the landscaper $10,000 upon completion of a list of projects. the landscaper performed the work while the homeowner was away on vacation. when the landscaper sought payment, the homeowner refused, noting that a tree had not been trimmed as required by the contract. the landscaper responded that, since he would now have to forego other work in order to trim the tree, he would do it but only if the homeowner agreed to pay him a total of $10,500 for his services. the homeowner, desperate to have the work completed, agreed. once the work was completed, however, the homeowner gave the landscaper a check for $10,000, and refused to pay more. the landscaper sued for breach of contract. Is the landscaper likely to succeed in his claim?
In his lawsuit for contract violation, the landscaper is certain to prevail.
What is a contract?A contract is a commitment made between two or more parties that is enforceable by law. It is a voluntarily reached, legally binding agreement between the parties. An offer, acceptance, and consideration are frequently included in contracts (something of value that is promised or exchanged between parties). A contract may be verbal or written, formal or informal. A contract's terms might outline the parties' rights and obligations, as well as pledges to do or not do anything. It can be applied in a number of circumstances, including purchasing, selling, renting, and forming partnerships.Contracts clearly outline the expectations of the parties involved and spell down the terms of the agreement, including any warranties or guarantees. A party who has been wronged by a contract breach may seek legal redress.
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identify the statement that most accurately describes the difference between the market and the administrative versions of utilitarianism. multiple choice the administrative version of utilitarianism promotes policies that protect property rights and encourage competition. the administrative version of utilitarianism turns to policy experts for the design and implementation of policies. the administrative version produces those goods that the consumers want. the administrative version of utilitarianism uses social sciences to predict consequences.
The administrative version of utilitarianism turns to policy experts for the design and implementation of policies is the statement that most accurately describes the difference between the market and the administrative versions of utilitarianism.
What are the versions of utilitarianism?According to the idea, there are two different kinds of utilitarian ethics used in business: "rule" utilitarianism and "act" utilitarianism. Competitive markets are regarded as the most effective way to maximize happiness under the "administrative" version of utilitarianism. A social contract serves to structure and facilitate interpersonal relations, in accordance with an ethical framework based on principles.
The "market" interpretation of utilitarianism contends that decisions regarding risk and safety should be made by professionals who establish requirements that businesses must adhere to. Our behavior should be guided by moral standards, such as safeguarding human rights, according to virtue ethics.
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The One Shovel Construction Company is hired by the City of Kalamazoo to lay sewer pipe from the east end of town to the west end of town using their single shovel to dig the trench. While the crew would like to begin at both ends simultaneously and have a dramatic ceremony when both ends meet, they find themselves with a bit of a: Resource-constrained, Capacity constrained. Mix-constrained. Time-constrained
The team is running into some Resource constrained despite their desire to start at both ends simultaneously and have a grand ceremony when they meet.
Resource constraint: what is it?
A resource constraint is any limitation or risk relating to project resources. During the project planning phase, identifying these resource management constraints is a crucial resource planning activity. Resource restrictions are a barrier that could derail your project and keep it from being successfully finished.
Constraints have a profound impact on the project life cycle in every aspect. The most common restriction in project management is actually the triple constraint of time, money, and scope. The project manager must be aware of every detail because projects involve costs and deadlines (scope).
The tools you need to quickly allocate the necessary resources are provided by project management software, which also manages your project resources.You may plan, manage, and assign resources based on their capabilities using a cloud-based tool called Project Manager.
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the time when operators or resources are not producing. -- a type of process in which sets of items move through the manufacturing steps in a group. -- a type of process where each job follows a distinct routing through the shop, often requiring equipment setups or changeovers, but enabling the production of a great variety of products. -- the sequence of activities that result in a product or service deliverable. -- a type of process in which items follow the same equipment routing and can be produced with little or no interruption. -- the duration between the completion of two successive, discrete units of production. 1. idle time 2. batch production 3. jumbled production 4. process flow 5. cycle time 6. continuous production
Idle time, batch production, jumbled production, process flow, cycle time, and continuous production.
What is jumbled production?A manufacturing method that allows for the production of a wide range of products but frequently necessitates equipment setups or switchovers. Each task follows a separate routing through the shop.
What is the production process?A style of manufacturing where the product's location is fixed. Transport of supplies, machinery, and personnel to and from product
What process is used in production?This approach, also known as mass production, focuses on using manufacturing line techniques to quickly produce a significant number of things on a huge scale while having workers concentrate on a single stage of the manufacturing process. With this approach, production is ongoing in preparation for future demand.
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the text explains the six strategies that impact your study skills. match each skill with its description
The six strategies are Setting Goals, Time Management, Note Taking, Organizing and Synthesizing and Active Reading.
A. Setting Goals: Setting goals is the strategy of setting specific, measurable, achievable, realistic, and timely objectives. This helps to provide focus and direction for studying, and can help to keep the student motivated and on track.
B. Time Management: Time management is the strategy of allocating time to tasks in order to maximize efficiency and productivity. This can involve breaking down large tasks into smaller sections and scheduling regular study sessions in order to ensure that all tasks are completed on time.
C. Note Taking: Note taking is the strategy of recording important information from lectures, textbooks, and other sources, in order to better understand and remember it. This can involve making diagrams, summarizing key points, and highlighting key words and phrases.
D. Organizing and Synthesizing: Organizing and synthesizing is the strategy of structuring and synthesizing information in order to draw connections, remember it better, and make it easier to understand. This can involve creating outlines and diagrams, summarizing material, and using mnemonic devices.
E. Active Reading: Active reading is the strategy of engaging with the material through reflection, questioning, and summarizing.
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selling a firm's unneeded assets is a reasonable last resort if sales revenues are declining and when neither equity capital nor debt capital can be found to meet a firm's need for capital.
a. true
b. false
(a) true Selling a firm's unneeded assets is a reasonable last resort when neither equity capital nor debt capital can be found to meet a firm's need for capital.
A firm with questionable credit should expect to pay the prime interest rate minus 2 percent.The pecking order theory states that companies prioritize their sources of financing from internal financing to equity and consider equity financing as a last resort.Internal funds are used first,and when they are depleted,debt is issued debt issuance until the debt capacity is reachedFor investors,the debt to equity ratio is used to indicate how risky it is to invest in a company.The higher the debt to equity ratio,the riskier the investment.Paying expenses as soon as invoices arrive in the mail.
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Any person who is actively involved in a real estate transaction at the service of another, in the expectation of receiving a commission, must be:
a. licensed.
b. married.
c. American born.
d. bonded.
Any person who is actively involved in a real estate transaction at the service of another, in the expectation of receiving a commission, must be licensed.
Either, a minimum of two years full-time licensed salesperson experience within the last five years, or two years of unlicensed equivalent experience, or a four-year degree with a major/minor in real estate is required. Brick refers to a physical presence of an organization or business in a building or other structure. A natural hazard zone refers to areas where homes are at greater risk for property damage or destruction by mother earth or mother nature. These risks include: earthquakes, tornados, landslides, wildfires, volcanoes, hurricanes, tsunamis and other natural disasters. As such, creditors can't pursue your personal assets, like a home or savings account, to pay the business debts. . Intellectual property is owned and legally protected by a person or company from outside use or implementation without consent.
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three basic team member types exist within a typical six sigma project team; members provide expert information, council, or help in accessing resources when called upon by the project team leader, members participate in all activities of the team and attend as many team meetings as possible, and members provide expertise on an as-needed basis as subject matter experts.
Regular, ad hoc, and resource members are the three basic categories of team members. Certified as a Black Belt White Belts.
A certified black belt's primary duty as a full-time employee is leading teams on Six Sigma projects.
How do Six Sigma teams work?
Stakeholders, executives, champions, and team members (yellow belts) who are under the direction of a green belt or black belt often make up a Six Sigma team formation. Master black belts, black belts, green belts, and yellow belts are examples of project level members who assist in managing the improvement endeavor.
For teams working on Six Sigma projects, how many full-time people are advised?
An ideal project team size is generally agreed to be between 4-6 individuals based on the extensive research that has been done on the subject.
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Suppose that a firm produces 300,000 units a year and sells them all for $9 each. The explicit costs of production are $2,000,000 and the implicit costs of production are $350,000. The firm eams an accounting profit of
A. $700,000 and an economic profit of $350,000
B. $2,700,000 and an economic profit of $300,000
C. $300,000 and an economic profit of $2,700,000
D. $350.000 and an economic profit of $700,000
The firm eams an accounting profit of $700,000 and an economic profit of $350,000.
Option A is correct .
Accounting profit :A company's net income, also known as revenue less expenses, is its accounting profit. The total costs of a company or investment can be subtracted from the total revenue or return to determine economic profit. For tax purposes, businesses report their accounting profits to investors on income statements and to the IRS.
Evaluating Accounting profit :Accounting Profit= Total Revenue - Explicit Cost
Total Revenue= 300,000 × 9
= 27 ,00,000
Explicit Cost= 2,000,000
Thus, 27 ,00,000-2,000,000
= 700,000
Economic Profit= Total Revenue- (Explicit+Implicit Cost)
Implicit Cost= 350,000
Thus, 27,00,000-( 2,000,000+350,000)
= 350,000
The firm eams an accounting profit of $700,000 and an economic profit of $350,000.
Why is profit accounting important?
Accounting profit is important because it represents actual company profits rather than economic profit is more theoretical values. Accounting profit provides a more precise picture of a company's performance and financial viability.
What is profit in economics?The difference between a company's sales revenue and the direct costs of producing its goods and services, as well as any opportunity costs, is its economic profit. Management determines opportunity costs, a type of implicit cost, which will vary according to various scenarios and perspectives.
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The text suggests that the most powerful time-management technique might be:
A. promising yourself and others that you'll get a task done
B. focusing on A-priority tasks
C. using a long-term planner
D. performing tasks as perfectly as possible
The text recommends that the most powerful time-management technique might be promising yourself and other people that you'll get a task done. So option A. is correct.
Time management is the coordination of chores and activities to maximize the significance of an individual's endeavors. Essentially, the objective of time management is encouraging people to get more and more reasonable work done in less time. Elements comprise organization, planning, and scheduling to best take benefit of the time functional to the individual, while also taking into statement the individual's respective condition and relevant factors.
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in 2018 the united states announced 25% tariffs on avocados imported from mexico and that the higher price of avocados would be paid entirely by mexico. supporters of the tariff claimed that the increased price would be paid by mexico. evaluate the validity of this claim by figuring out who gains and loses under this decision. in the accompanying graph: place point pw on the price line which depicts the world price before the tariff. place point pt on the price line which depicts the world price after the tariff.
The tarrif in this case-- Divide the total tariff revenue by the total import value to arrive at a trade-weighted average tariff rate. This is a typical method of reporting average tariffs because many nations consistently report these data.
The tax levied by the government on imports from other nations is referred to as a tariff. The primary purpose of tariffs is to protect domestic producers, but they are also used by the government to discourage imports from other nations and encourage the use of domestic products. In the past, import taxes were a source of income for the government. The taxes that were gathered weren't always given names. The Tariff Act of 1789 was only passed into law in 1789 by George.To know more tarriff here
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According to the Greek philosopher Aristotle, ________ explains why some people act unethically even when they know what is right.Multiple Choicenormative myopiachange blindnessweakness of willmoral imagination
Greek philosopher Aristotle claimed that some people act unethically while knowing what is right because of a lack of willpower.
What does Aristotle mean when he talks about willpower?The struggle and conflict that could arise between a person's practical thinking and actions are described by this phrase. This is the capacity for individuals to understand what they must do and stop from doing.Therefore, we might conclude that, in the words of the Greek philosopher Aristotle, some people act unethically even when they are aware of what is right due to weakness of will.Building positive habits is allegedly how Aristotle addresses willpower issues. To know the good is to do the good, according to Socrates.It is conceivable to come to the conclusion that one has good enough reason to disagree with one's own reason, which opens the door to weakness of will.To learn more about Aristotle, refer to:
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on december 31, reggit company held the following short-term investments in its portfolio of available-for-sale debt securities. reggit had no short-term investments in its prior accounting periods.
$237,600 worth of investments that are available for sale will be shown on the balance sheet at fair value.
With the surplus funds of the business, short-term investments are bought with the intention of producing interest income and are intended to be traded quickly. At the conclusion of each period, the investments will be revalued to reflect the current market value, resulting in a valuation allowance and an unrealized gain or loss.
The Asset Section of the Balance Sheet includes information on the valuation allowance on investments that are available for sale.
Unrealized Gain or Loss on Trading Investment is disclosed in the Stockholder's Equity section of the balance sheet.
The presentation of Reggit Company's balance sheet, with an emphasis on the asset section, is shown below.
Reggit Company
Balance Sheet - Asset Section
As of December 31, 20xx
Assets:
Investments that are currently for sale, at a price 246,700
Value-Added Percentage (9,100)
Investment trading, at a fair value 237,600
In the section under "Stockholders' Equity" of the balance sheet, unrealized loss on an investment that is available for sale is disclosed. This will represent a deduction in the Equity Section and act as a counter account.
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multinational corporations do not have the responsibility nor the incentive to follow international accounting standards as there still is no particular set of global standards that are generally accepted worldwide (T/F).
False There is still no particular set of global standards that are generally accepted worldwide, false multinational corporations neither have the responsibility nor the incentive to follow international accounting standards.
Standards for global accounting for global markets Modern economies rely on cross-border transactions and the free movement of capital from one country to another. It is anticipated that the number of international financial transactions will continue to rise to over a third of all transactions.
Companies raise capital, conduct transactions, or have international operations and subsidiaries in multiple countries, and investors worldwide seek diversification and investment opportunities.
Previously, the fact that different nations maintained their own distinct sets of national accounting standards made cross-border activities like these more difficult. Companies that prepare financial statements, investors, and others who use those financial statements to make economic decisions all face increased costs, complexity, and ultimately risk as a result of this jumble of accounting requirements.
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Assume that you are the president of Highlight Construction Company. At the end of the first year of operations (December 31), the following financial data for the company are available:Cash $25,400Receivables from customers (all considered collectible) 11,800Inventory of merchandise (based on physical count and prices at cost) 81,000 Equipment owned, at cost less used portion41,600Accts Payable owed to suppliers 47640Salary Payable ( on Dec 31, this was owed to an employee who will be paid on Jan 10) 3,600Total Sales Revenue 118,000Expenses, including the cost of the merchandise sold (excluding income taxes)89,200Income taxes expense at 30% x pretax income; all paid during the current year ?Common Stock (Dec 31) 98,700Dividends declared and paid during the current year 10,300(Note: The beginning balances in Common stock and retained earnings are zero because it is the first year of operations)
Common stock is a type of investment that represents ownership in an organisation.
Explanation:
Highlight Construction Company
Summarized Income Statement
118,000 in sales revenue and expenses (89,200)
Prior to taxes, net income was $10,000 Income tax expense was $10,300*30% (3,050)
25,400 in net income
Only a summary income statement has been prepared in accordance with the question's requirements.
One of a company's primary financial statements, the Income Statement, displays profit and loss over a specific time period.After deducting all costs associated with both operating and non-operating operations, the profit or loss is calculated.To learn more about common stock refer to:
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Based on the information provided, we can calculate the following financial measures for Highlight Construction Company at the end of its first year of operations:
What are the financial measures for highlight construction at the end of the year and calculate it?Current assets: Cash + Receivables + Inventory = $25,400 + $11,800 + $81,000 = $118,200Current liabilities: Accounts Payable + Salary Payable = $47,640 + $3,600 = $51,240Net income: Total Sales Revenue - Expenses - Income Taxes = $118,000 - $89,200 - (30% x ($118,000 - $89,200)) = $18,560Retained earnings: Net Income - Dividends = $18,560 - $10,300 = $8,260It should be noted that the current assets, current liabilities and net income are calculated based on the information given in the question. The retained earnings is calculated by subtracting the dividends declared and paid during the year from the net income.In summary:Current assets are $118,200Current liabilities are $51,240Net income is $18,560Retained earnings is $8,260The income taxes expense is $3,476 ( 30% * ($118,000 - $89,200))To learn more about financial measure refer:
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