Answer:
The appropriate response is "Progressive tax".
Explanation:
Progressive taxation appears to mean that the tax rate is higher for increased organizations as well as lower for low-income communities. Whenever the taxable income leads to higher, the above tax rate tends to increase. The approximately equal tax rate would be taxation that is set regardless including its up or down in tax liability.So that above is the correct answer.
Manufacturing cost data for Orlando Company, which uses a job order cost system, are presented below.
Direct materials used $ (a) $ 83,000 $ 63,150
Direct labor 50,000 140,000 (h)
Manufacturing overhead applied 42,500 (d) (i)
Total manufacturing costs 145,650 (e) 213,000
Work in process 1/1/14 (b) 15,500 18,000
Total cost of work in process 201,500 (f) (j)
Work in process 12/31/14 (c) 11,800 (k)
Cost of goods manufactured 192,300 (g) 222,000
Case A Case B Case C
Answer:
Instructions. Indicate the missing amount for each letter. Assume that in all cases manufacturing overhead is applied on the basis of direct labor cost and the rate is the same.
The Calculation of missing figure.
Particulars Case A Case B Case C
Direct materials used $53,150 $83,000 $63,150
Direct labor $50,000 $140,000 $81000
Manufacturing overhead applied $42,500 $119000 $68850
Total manufacturing costs $145,650 $342,000 $213,000
Work in process 1/1/14 $55,850 $15,500 $18,000
Total cost of work in process $201,500 $357,500 $231,000
Work in process 12/31/14 $9,200 $11,800 $11000
Cost of goods manufactured $192,300 $345,700 $222,000
O'Brien Inc. has the following data: rRF = 5.00%; RPM = 6.00%; and b = 1.10. What is the firm's cost of equity from retained earnings based on the CAPM?
a. 8.93%
b. 11.25%
c. 13.22%
d. 11.83%
e. 11.60%
Answer:
11.3%
Explanation:
O'Brien has the following data
rRF= 5%
RPM= 6%
b= 1.10%
Therefore the cost of equity can be calculated as follows.
= 5% + 6%(1.05)
= 5% + 6.3
= 11.3%
Hence the cost of equity is 11.3%
Potash Corporation acquired the voting stock of Safestyle Company on January 1, 2019 for $50 million. Safestyle's book value at the time was $10 million, consisting of $2 million of capital stock and $8 million of retained earnings. The $40 million difference between fair and book value was attributed to goodwill. It is now December 31, 2020, the end of the accounting year and two years after the acquisition. Safestyle's January 1, 2020 retained earnings balance is $11 million, and it reports net income of $1.8 million for 2020. Safestyle declares no dividends and has no other comprehensive income. Goodwill from the acquisition was impaired by $1 million in 2019 and $500,000 in 2020. Potash uses the complete equity method to report its investment in Safestyle on its own books. Support What is the December 31, 2020 balance for Investment in Safestyle, reported on Potash's books?
A. $53,300,000
B. $52,000,000
C. $50,000,000
D. $54,800,000
Answer: A. $53,300,000
Explanation:
Year 2019 balance for Investment
= Cash + Net income - amortization
Net income = Beginning retained earnings 2020 - Beginning retained earnings 2019
= 11 - 8
= 3 million
Balance 2019 = 50 + 3 - 1
= $52 million
Year 2020 balance
= Opening balance + Net income - amortization
= 52 + 1.8 - 0.5
= $53.3 million
= $53,300,000
Here are incomplete financial statements for Donavan, Inc. Calculate the missing amounts.
DONAVAN, INC.
Balance Sheet
Assets
Cash
$ 14,100
Inventory
17,100
Buildings
37,900
Total assets
$69,100
Liabilities and Stockholders' Equity
Liabilities
Accounts payable
$ 5,200
Stockholders' Equity
Common stock
Entry field with correct answer
(a)
Retained earnings
Entry field with correct answer
(b)
Total liabilities and stockholders' equity
$69,100
DONAVAN, INC.
Income Statement
Revenues
$85,800
Cost of goods sold
Entry field with incorrect answer now contains modified data
(c)
Salaries and wages expense
10,400
Net Income
$
Entry field with incorrect answer now contains modified data
(d)
DONAVAN, INC.
Retained Earnings Statement
Beginning retained earnings
$19,100
Add: Net income
Entry field with incorrect answer now contains modified data
(e)
Less: Dividends
4,710
Ending retained earnings
$34,100
Answer and Explanation:
The computation of the missing amounts is shown below:
a. Common stock
= Total Liabilities and Stockholders' Equity - total liabilities - ending retained earnings
= $69,100 - $5,200 - $34,100
= $29,800
b. Retained earnings is $34,100
c. Cost of goods sold
= Revenues - salaries & wages expense - net income
= $85,800 - $10,400 - $19,710
= $55,690
Here net income would be
= Ending retained earnings + dividends - beginning retained earnings
= $34,100 + $4,710 - $19,100
= $19,710
d. Net income is $19,710
e. Net income is $19,710
Kevin Rogers is interested in buying a five-year bond that pays a coupon of 10 percent on a semiannual basis. The current market rate for similar bonds is 8.8 percent. What should be the current price of this bon?
a. $1, 099.
b. $982
c. $1.048
d. $965
Answer:
c. $1.048
Explanation:
Assuming face value to be $1000
Semi annual coupon = (10% of 1000) / 2 = 50
Number of periods = 5 * 2 = 10
Semi annual rate = 8.8% / 2 = 4.4%
Current price = Coupon * [1 - 1 / (1 + r)^n] / r + FV / (1 + r)^n
Current price = 50 * [1 - 1 / (1 + 0.044)^10] / 0.044 + 1000 / (1 + 0.044)^10
Current price = 50 * [1 - 0.650122] / 0.044 + 650.122225
Current price = 50 * 7.951768 + 650.122225
Current price = 397.5884 + 650.122225
Current price = 1047.710625
Current price = $1,048
A project has an initial cost of $10,600 and produces cash inflows of $3,700,$4,900,and $2,500 for Years 1 to 3,respectively.What is the discounted payback period if the required rate of return is 7.5 percent?
A) 2.65 years
B) 2.78 years
C) 2.94 years
D) 2.88 years
E) Never
Answer:
The project will never pay the initial investment.
Explanation:
The payback period is the time required to cover the initial investment.
We need to use the following formula on each cash flow:
PV= Cf/(1+i)^n
PV1= 3,700/1.075= 3,441.86
PV2= 4,900/1.075^2= 4,240.13
PV3= 2,500/1.075^3= 2,012.40
Now, the payback period:
Year 1= 3,441.86 - 10,600= -7,158.14
Year 2= 4,240.13 - 7,158.14= -2,918
Year 3= 2,010.4 - 2,918= -907.6
The project will never pay the initial investment.
Stepsis is doing laundry today, but the machine is not working, she crawls in and sees whats wrong, she fixes it but shes stuck, she calls StepBro.
What should StepBro do?
A. Call Jamal
B. Pull her out
C. Dice Roll Dance And Bunny Hop Dance
D. I like ya cut G her
Answer:
b or d
Explanation:
because pulling her out might get the problem done faster , but I like ya cut g her could resolve in even more action . um I go with d
Answer:
B
Explanation:
Be a decent human being boys
Oakland Tax Planning Service bought computer equipment for on January 1, 2018. It has an estimated useful life of four years and zero residual value. Oakland uses the straightline method to calculate depreciation and records depreciation expense in the books at the end of each month. Calculate the amount of Depreciation Expense for the period, January 1, 2018 through September 30, 2018, for this equipment. (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.)
A. $6,000
B. $6,500
C. $4,500
D. $5,000
Answer:
C. $4,500
Explanation:
The computation of the depreciation expense using the straight-line method is shown below:
= (Cost - residual value) ÷ Useful life of the asset
= $24,000 ÷ 48 months
= $500
Now for 9 months, it is
= $500 × 9 months
= $4,500
Hence, the depreciation expense is $4,500
Therefore the correct option is c. $4,500
Tumbling Haven, a gymnastic equipment manufacturer, provided the following information to its accountant. The company had current assets of $145,332, net fixed assets of $356,190, and other assets of $4,176. The firm had long-term debt of $76,445, common stock of $200,000, and retained earnings of $134,461. What amount of current liabilities did this firm have?
a. $94,792
b. $410,906
c. $171,217
d. $76,445
Answer:
a
Explanation:
Weighted Average Cost Flow Method Under Perpetual Inventory System The following units of a particular item were available for sale during the calendar year:
Jan. 1 Inventory 10,000 units at $75.00
Mar. 18 Sale 8,000 units
May 2 Purchase 18,000 units at $77.50
Aug. 9 Sale 15,000 units
Oct. 20 Purchase 7,000 units at $80.25
The firm uses the weighted average cost method with a perpetual inventory system. Determine the cost of goods sold for each sale and the inventory balance after each sale. Present the data in the form illustrated in Exhibit 5. Round unit cost to two decimal places, if necessary.
Answer:
Please see attached solution
Explanation:
a. Cost of goods sold . Detailed explanation attached.
b. Ending inventory. Detailed explanation attached.
Note 1.
Weighted average cost per unit on January 20
= $1,545,000/20,000 units
= $77.5
Note 2
Weighted average cost per unit on January 30
= $948,000/12,000 units
= $79.00
QUESTION 11
Which of the following is not a type of ethics theory?
O Deontology
O Utilatrianism
Behaviorism
Moral Realitism
The term that does not belong to type of ethics theory is Deontology.
The Bioethics can be regarded as a term that is used in explaining some disciplines such as;
medical ethics animal ethicsenvironmental ethics.Examples of types of ethic theory are;
UtilatrianismBehaviorismMoral RealitismTherefore, Deontology does not belong to type of ethics theory.
Learn more about ethics theory at;
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Suppose you come up with a wonderful new invention, and after borrowing as much as you can from a bank, you believe that additional capital is needed to make the invention marketable. Your small new company would be most likely to find additional capital from the:
A. bond credit channel.
B. equity credit channel.
C. stock credit channel.
D. venture capital credit channel.
Answer:
B. equity credit channel
Explanation:
Investment banks specialize in creating shares of stock for a company to raise funds through selling equity.
The credit channel mechanism of the monetary policy describes the theory that a central bank's policy changes, explained further.
What are Credit Channels?The credit channel mechanism of monetary policy reflects the hypothesis that changes in a central bank's policies impact the quantity of credit available to enterprises and consumers for purchases, hence affecting the real economy.
When someone comes up with new innovation and wants to sell it for as much money as possible by borrowing as much money as possible from a bank. The equity credit Channel is the most likely source of extra financing for your modest new organization.
Learn more about Credit Channels here:
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Bikes and More just announced its next annual dividend will be $2.42 a share and all future dividends will increase by 2.5 percent annually. What is the market rate of return if this stock is currently selling for $22 a share?
Answer:
13.5%
Explanation:
market rate of return can be calculated with below expresion
Current Price = D / (K - g)
Where
Current Price = $22 a share
D= Dividend in coming Year
dividend = $2.42
K= rate of return
g =growth rate
22 = 2.42 / (K - 0.025)
Cross multiply we have
22(K - 0.025)= 2.42
Open the bracket we have
22k- 0.55=2.42
2.42 + 0.55= 22k
K = 2.97 / 22
= 0.135
= 0.135×100%
= 13.5%
Therefore, the market rate of return if this stock is currently selling for $22 a share is 13.5
A perfectly competitive firm shuts down in the short run when:________. A. economic losses occur. B. the price is below the average total cost curve. C. the price is below the average variable cost curve. D. the price is below the average fixed cost curve.
Answer:
C. the price is below the average variable cost curve.
Explanation:
In a perfectly competitive market, there are many buyers and sellers (price takers) of homogeneous products (standardized products with substitute) and the market is free (practically open) to all individuals or business entities that are willing to trade all their goods and services.
Hence, a perfectly competitive market is characterized by the following features;
1. Perfect information.
2. No barriers, it is typically free.
3. Equilibrium price and quantity.
4. Many buyers and sellers.
5. Homogeneous products.
Some examples of a perfectly competitive market are the Agricultural sector, e-commerce and the foreign exchange market.
A perfectly competitive firm shuts down in the short run when the price it is selling its goods (products) in the market is below the average variable cost curve.
This ultimately implies that, a business firm should only continue to be in operation when its price is above or greater than its average variable costs based on the shutdown rule.
The market demand function for corn is Qd = 5 15 - 2P and the market supply function is Qs= 5P- 6, both quantities measured in billions of bushels per year. Suppose the government wants to raise the price to $4 per bushel. What are the aggregate surplus, consumer surplus, and producer surplus at the competitive equilibrium?
Answer:
The Producer surplus = 19.6.
consumer surplus = 12.25.
Aggregate supply = 31.85.
Explanation:
Normally, the demand equilibrium function equals to supply equilibrium function will get us the price which is $3 that is Qd = Qs. Hence, if we equate both function together like;
15 - 2P = 5P - 6.
15 +6 = 5P + 2P.
21 = 7P.
P = $3.
Thus, Qd = 15 - 2P= 15 - 2(3) = 15 - 6 = 9 units.
Qs = 5P - 6 = 5(3) - 6 = 15 - 6 = 9.
Therefore, if the price is going to be Increased by $4, we will have that;
Qd = 15 - 2P= 15 - 2(4) = 15 - 8 = 7 units.
=> The Producer surplus = 1/2 × 14 (4 - 1.2) = 19.6.
=> consumer surplus = 1/2 × 7 (7.5 - 4) = 12.25.
Aggregate supply = Producer surplus + consumer surplus = 19.6 + 12.25 = 31.85.
Pina Corporation sells rock-climbing products and also operates an indoor climbing facility for climbing enthusiasts. During the last part of 2017, Pina had the following transactions related to notes payable.
Sept. 1 Issued a $16,800 note to Pippen to purchase inventory. The 3-month note payable bears interest of 8% and is due December 1. (Pina uses a perpetual inventory system.)
Sept. 30 Recorded accrued interest for the Pippen note.
Oct. 1 Issued a $21,600, 9%, 4-month note to Prime Bank to finance the purchase of a new climbing wall for advanced climbers. The note is due February 1.
Oct. 31 Recorded accrued interest for the Pippen note and the Prime Bank note.
Nov. 1 Issued a $26,400 note and paid $8,800 cash to purchase a vehicle to transport clients to nearby climbing sites as part of a new series of climbing classes. This note bears interest of 7% and matures in 12 months.
Nov. 30 Recorded accrued interest for the Pippen note, the Prime Bank note, and the vehicle note.
Dec. 1 Paid principal and interest on the Pippen note.
Dec. 31 Recorded accrued interest for the Prime Bank note and the vehicle note.
Required:
Prepare journal entries for the transactions noted above.
Answer:
Pina Corporation
Journal Entries:
Sept 1:
Debit Inventory $16,800
Credit Notes Payable (Pippen) $16,800
To record the issue of a 3-month note payable with interest of 8%
Sept. 30:
Debit Interest Expense on Note ($16,800 * 8%/12) $112
Credit Interest Payable $112
To accrue interest for the note payable.
Oct. 1:
Debit Equipment (Climbing Wall) $21,600
Credit Notes Payable (Prime Bank) $21,600
To record the issue of a 4-month note, with 9% interest.
Oct. 31:
Debit Interest Expense on Note ($16,800 * 8%/12) $112
Credit Interest Payable $112
To accrue interest for the note payable.
Debit Interest Expense on Note ($21,600 * 9%/12) $162
Credit Interest Payable $162
To accrue interest for the note payable.
Nov. 1:
Debit Vehicles $35,200
Credit Notes Payable $26,400
Credit Cash $8,800
To record the purchase of a vehicle via a 12- month notes payable at 7% interest.
Nov. 30:
Debit Interest Expense on Note ($16,800 * 8%/12) $112
Credit Interest Payable $112
To accrue interest for the note payable.
Debit Interest Expense on Note ($21,600 * 9%/12) $162
Credit Interest Payable $162
To accrue interest for the note payable.
Debit Interest Expense on Note ($35,200 * 7%/12) $205
Credit Interest Payable $205
To accrue interest for the note payable.
Dec. 1:
Debit Notes Payable (Pippen) $16,800
Debit Interest Payable $336
Credit Cash $17,136
To record the payment of Notes to Pippen with interest.
Dec. 31:
Debit Interest Expense on Note ($21,600 * 9%/12) $162
Credit Interest Payable $162
To accrue interest for the note payable.
Debit Interest Expense on Note ($35,200 * 7%/12) $205
Credit Interest Payable $205
To accrue interest for the note payable.
Explanation:
The general journal is used to record transactions as they occur while the general ledger records details about each account and summarizes the balances at the end of the accounting period into the trial balance. Accounting records are based on the double-entry system and follow the accounting equation of Assets = Liabilities + Equity. Every business transaction at Pina Corporation involves two or more accounts. One or two are debited or credited, as the case may be.
Historically, a factory has been able to produce a very specialized nano-technology component with 35% reliability, i.e., 35% of the components passed its quality assurance test. They have now changed their manufacturing process and hope that this has improved the reliability. To test this, they took a random sample of 24 components produced using the new process and found that 13 components passed the test. If you do a hypothesis test to see if the new manufacturing process is more reliable, does this observation give you enough evidence to reject the null hypothesis at 5% level of significance? (Suggestion: Use Microsoft Excel for your calculations.)The table below shows the probability of observing number of components (X) passing the test out of 24 components, if the reliability is 35%.X Probability0 0.00001 0.00042 0.00263 0.01024 0.02895 0.06226 0.10617 0.14708 0.16829 0.161010 0.130011 0.089112 0.052013 0.025814 0.010915 0.003916 0.001217 or more 0.0004A) NoB) Yes
Answer:
Yes
Explanation:
From the given output
The Probability of getting 13 or more passed
when the reliability = 0.35. can be calculated as follows
=0.0258+0.0109+0.0039+.0012+0.0004 = 0.0422 ≈ 4.2%
Since the probability is less than the 5% level we will therefore reject the Null hypothesis
answer : YES
PLS HURRY!!!!
Write a short paragraph explaining the ecological benefits to high-yield agricultural techniques.
Answer:
The results suggest that more intensive production methods require less land, cause less soil loss, consume less water and may result in the production of fewer pollutants. Contrary to common belief, results from the study show that organic production is more ecologically damaging than conventional methods.
Explanation:
A stock is expected to pay a dividend of $1 per share in 2 months and in 5 months. The current stock price is $50, and the continuous compounded risk free interest rate is 8% per annum. An investor has just taken a short position in a 6-month forward contract on the stock.
Required:
a. What is the arbitrage free price of the forward contract?
b. What are the forward price and the initial value of the forward contract?
c. Three months later, the price of the stock is $48 and the risk-free rate of interest is still 8% per annum. What are the forward price and the value of the short position in the forward contract?
Answer:
b) the initial value of the forward contract is $0
we must determine the present value of the dividends that the stock is expected to pay in order to determine the forward price:
present value of dividends = ($1 x e⁽⁻⁰°⁰⁸⁾ ⁽⁰°¹⁶⁷⁾) + ($1 x e⁽⁻⁰°⁰⁸⁾ ⁽⁰°⁴¹⁶⁷⁾) = $1.954
forward price = ($50 - $1.954) · e⁽⁰°⁰⁸⁾ ⁽⁰°⁵⁾ = $50.0068 ≈ $50.01
c) again we first determine the present value of the dividends:
present value of dividends = ($1 x e⁽⁻⁰°⁰⁸⁾ ⁽⁰°¹⁶⁷⁾) = $0.9867
forward price = ($48 - $0.9867) · e⁽⁰°⁰⁸⁾ ⁽⁰°²⁵⁾ = $47.963 ≈ $47.96
short forward contract = -[$48 - $0.9867 - ($50.01 · e⁽⁻⁰°⁰⁸⁾ ⁽⁰°²⁵⁾)] = $2.006 ≈ $2.01
a) in order to determine the arbitrage free forward price, the NPV of our forward price must be 0. It is basically the same answer than (b) only that you calculate it in a different order:
$50 = $1.954 + forward price/e⁽⁰°⁰⁸⁾ ⁽⁰°⁵⁾
$48.046 = forward price/(1 + e⁽⁰°⁰⁸⁾ ⁽⁰°⁵⁾
forward price = $48.046 · e⁽⁰°⁰⁸⁾ ⁽⁰°⁵⁾ = $50.006 ≈ $50.01
Consider a bank policy to maintain 12% of deposits as reserves. The bank currently has $10 million in deposits and holds $400,000 in excess reserves. What is the required reserve on a new deposit of $50,000?
Answer: $4,000
Explanation:
The required reserve and the excess reserve held by the bank are different because the required reserve is imposed by the central bank and the excess reserve is done by the bank.
The 12% reserves the bank is holding are both the excess and required reserves.
This means that the excess reserve is;
= 400,000/10,000,000
= 4%
The required reserve ratio will therefore be;
= 12% - 4 %
= 8%
Required reserve on $50,000 will be;
= 8% * 50,000
= $4,000
Once the prototype of Wainwright Industries' new riding lawnmower, made especially for women, passes concept testing, the next step is ________
A) commercialization
B) focus group surveys
C) concept development
D) post-testing
E) marketing strategy
Answer: commercialization
Explanation:
Concept testing is the stage at which survey is being carried out for a particular product. This is done in order to know how consumers will accept a new product before such product is finally introduced to the market.
Since the product has passed the concept testing, the next step will be commercialization. This is when the product is then introduced and the business is managed in order to make profit.
Answer:
E) marketing strategy
Explanation:
When a new product is the be introduced to the market there are various stages the it should undergo to ensure it has high quality and is well recieved by the consumer.
The various steps are:
- idea development
- focus group survey
- concept testing
- market strategy development
- product development
- test marketing
- commercialisation
When the new product is confirmed as a viable one marketing strategy development is started to see how product can best be delivered to the consumer
This stage comes after concept testing.
Accurate Metal Company sold 39,000 units of its product at a price of $390 per unit. Total variable cost per unit is $196, consisting of $187 in variable production cost and $9 in variable selling and administrative cost. Compute the manufacturing margin for the company under variable costing.
Answer:
Manufacturing margin = 7566000
Explanation:
given data
sold = 39,000 units
price = $390 per unit
Total variable cost = $196 per unit
variable production = $187
variable selling and administrative cost = $9
solution
first we get here the sales revenue that will be
sales revenue = 39000 × 390
sales revenue = 15210000
and
Cogs = 39000 × 196 = 7644000
so here Manufacturing margin will be
Manufacturing margin = 15210000 - 7644000
Manufacturing margin = 7566000
On January 1, 20X8, Blake Company acquired all of Frost Corporation's voting shares for $280,000 cash. On December 31, 20X9, Frost owed Blake $5,000 for services provided during the year. When consolidated financial statements are prepared for 20X9, which entry is needed to eliminate intercompany receivables and payables in the consolidation worksheet?
A) Accounts Payable 5,000
Accounts Receivable 5,000
B) Accounts Receivable 5,000
Accounts Payable 5,000
C) Retained Earnings 5,000
Answer:
A) Accounts Payable 5,000 ; Accounts Receivable 5,000
Explanation:
The amount owed as accounts payable (i.e liabilities) would be reduced with the amount of account receivables(assets) i.e. the assets would decrease giving a credit and liabilities would decrease giving a debit.
The Republic of Yuck is a simple economy with no government, no taxes, and no imports and exports. Yuckers (citizens of Yuck) are creatures of habit. They have a rule that everyone saves exactly 22 percent of income. Assume that planned investment is fixed and remains at 67 billion Yuck dollars.Expert economists of the Republic of Yuck have estimated the following:Real GDP (Y) 192 billion Yuck dollarsPlanned Investment Spending (U): 67 billionYuck dollars You are asked by the business editor of the Weird Herald, the local newspaper, to predict the economic events of the next few months.Based on the information given above you predict that the inventories will _____ and output will _____ ,a. stay unchangedb increasec. decrease
Answer:
The inventories will decrease and output will increase
Explanation:
Note: The organized question is as attached
Real GDP is 192 billion
They consumes (100 - 22) = 78% of income.
Therefore, the consumption is 78% of 192 billion = 149.76 billion
The Investment is fixed at 67 billion . This implies that aggregate expenditure (AE = C + I) = 149.76 billion + 67 billion = 216.76 billion
Since Aggregate expenditure(AE) is greater than Real GDP (Y), It is likely that the inventories will decrease and the firms will produce more so that output will increase.
Monroe manufacturing has a quick ratio of 2.00x $31,000 in cash $17,500 in accounts recivable some inventory total current assets of $70,000 and total current liabilities of $24,500 the company reported annaul sales of $400,000 in the most recent annual reportOver the past year how often did Monroe manufacturing sell and replace its inventory?A) 19.05 xB) 20.96 xC) 2.86 xD) 8.01 x
Answer:
Inventory turnover ratio = 19.05 times
Explanation:
Quick ratio = (Current assets - Inventory) / Current liabilities
2 = (70,000 - Inventory) / 24,500
Inventory = $21,000
Inventory turnover ratio = Total sales / Inventory
Inventory turnover ratio = 400,000 / 21,000
Inventory turnover ratio = 19.05 times
Which of the following are frequently mentioned goals of the Federal Reserve? Check all that apply.
Answer:
Stability in the financial system
– Price stability—fighting inflation
– Full employment
– Economic growth
– Interest rate stability
– Currency stability
On October 1, 20XX, Bartley Corporation issued 5%, 10-year bonds with a face value of $500,000 at $520,000. The entry to record the issuance of the bonds would include a:___________
a) credit of $20,000 to Premium on Bonds Payable
b) credit of $520,000 to Bonds Payable
c) debit of $20,000 to Discount on Bonds Payable
d) credit of $480,000 to Bonds Payable
Answer:
b) credit of $520,000 to Bonds Payable
Explanation:
Date Accounts titles and explanation Debit Credit
Oct. 1 Cash $520,000
Premium on bonds payable $20,000
Bonds payable $500,000
(To record the issuance of bond at premium)
Shawn goes to the library to pick up a copy of a common tax form used file taxes. Which of the following is MOST likely the form that Shawn got?
1099
W-2
1776
1040
Answer:
Shawn would choose form 1040 filing tax form.
Explanation:
The answer is D.) 1040
I got a picture of the answer.
Hope this helps!
Jaguar-Land Rover and Chery's partnership can be described as a:_______.a. joint venture.b. exporting.c. license.d. franchise.
Answer:
.a. joint venture.
Explanation:
joint venture can be regarded as a kind of strategic alliances of business arrangement whereby there is an agreement by two parties to gather their resources ( money ,time, asset)together to achieve a goal, this could be a business activities, engaging in projects and do on. In this case Jaguar-Land Rover and Chery's partnership can be described as joint venture because they are different parties that comes together with their resources.
Jaguar-Land Rover and Chery's partnership can be described as a Joint venture. The correct option is a.
Chery Jaguar Land Rover (formally Chery Jaguar Land Rover Automotive Company Ltd.) is a Chinese automaker headquartered in Changshu.
It was created as a 50:50 joint venture between UK-based Jaguar Land Rover, a subsidiary of Tata Motors of India, and Chinese state-owned carmaker Chery to allow the manufacturing of Jaguar Cars and Land Rover vehicles in China's mainland. Chery Jaguar Land Rover's initial assembly plant is located in Changshu, and manufacturing began in October 2014. In August 2010, it was announced that Chery and Jaguar Land Rover were in talks about forming a Chinese joint venture manufacturing firm.
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3M Co. reports beginning raw materials inventory of $855 million and ending raw materials inventory of $717 million. Assume 3M purchased $3,646 million of raw materials and used $3,784 million of raw materials during the year. Compute raw materials inventory turnover and the number of days' sales in raw materials inventory.
Required:
Compute raw materials inventory turnover and the number of days' sales in raw materials inventory.