Answer:
Finch has an interest expense deduction of the amount of $6,300.
Explanation:
Based on the information given in a situation where Finch pays George interest of the amount of $6,300 in which the amount of $7,000 was the principal payment on the note which means that Finch will have an interest expense deduction of the amount of $6,300 reason been that the amount of interest that was paid to George which is $6,300 will be the amount that is allowed for deduction.
Take a quick look at all the market segments by clicking on the SEGMENTS/SUMMARY tab. As you analyze the opportunity for each segment, pay particular attention to the DEMOGRAPHICS for each segment. As you do so, note the SEGMENT SIZE of each market and its GROWTH RATE. From looking at the information provided about each segment, which segment represents the greatest portion of the entire market at close to 36%?
Question Completion:
Demographic Data on Market Segments
Segment Market Growth Purchase Average
Size Rate Behavior Price
Urban Commuters 20,000 3% 23% $45.00
School Children 35,000 1% 20% $24.00
Outdoor Enthusiasts 14,000 5% 12% $90.00
Luxury Trend Followers 5,000 7% 11% $70.00
University Students 24,000 5% 15% $32.00
Answer:
From looking at the information provided about each segment, the segment which represents the greatest portion of the entire market at close to 36% is:
School Children.
Explanation:
a) Data and Calculations:
Demographic Data on Market Segments
Segment Market Growth Purchase Average Market
Size Rate Behavior Price Size %
Urban Commuters 20,000 3% 23% $45.00 20.4%
School Children 35,000 1% 20% $24.00 35.7%
Outdoor Enthusiasts 14,000 5% 12% $90.00 14.3%
Luxury Trend Followers 5,000 7% 11% $70.00 5.1%
University Students 24,000 5% 15% $32.00 24.5%
Total market size 98,000
b) Market Size in percentage is computed as a ratio of each market segment to the total market size. Companies engage in market segmentation and sizing by dividing a target market into smaller, more defined categories that share similar characteristics such as demographics, interests, needs, or locations. The purpose is to identify the different groups within the target market so that more tailored and valuable goods and services can be provided to meet the customers' sweet spots.
Fatima is a regional sales manager and has decided that each member of the sales team must increase his or her current sales figures by 80% within two months if they want to remain with the company. Overall, the economy for the industry has dropped dramatically and she has decided this is the best way to motivate her sales team. Which aspect of the marketing objective is Fatima failing to recognize
Answer:
Achievable
Explanation:
Marketing objectives are set to meet up with the goals of the business. Which isnto.ake profit.
The SMART approach to marketing objectives are outline below. The marketing objectives should be;
- Specific, that is a particular objective should be set. In this case Fatima has set 80% increase on current sales figures.
- Measurable, that is the objective should be quantifiable. 80% of the current performance is measurable.
- Achievable, means that the objective should be within a reasonable scope. Targets should not be set too high.
In this case the economy for the industry has dropped dramatically, so setting objective of 80% sales increase on current performance is most likely not achievable.
- Realistic, are there sufficient personel and resources to achieve the goal.
- Time specific, it must be within a defined time period. In this case 2 months was set to achieve the objective.
Calculate the cash flow to creditors. (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) f. Calculate the cash flow to stockholders. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.
Answer and Explanation:
Missing information in the question:
Graffiti Advertising, Inc., reported the following financial statements for the last two years. 2016 Income Statement Sales $ 574,200 Costs of goods sold 273,935 Selling and administrative 124,715 Depreciation 54,558 EBIT $ 120,992 Interest 19,692 EBT $ 101,300 Taxes 40,520 Net income $ 60,780 Dividends $ 11,400 Addition to retained earnings $ 49,380 GRAFFITI ADVERTISING, INC. Balance Sheet as of December 31, 2015 Cash $ 13,500 Accounts payable $ 9,486 Accounts receivable 18,976 Notes payable 14,490 Inventory 13,812 Current liabilities $ 23,976 Current assets $ 46,288 Long-term debt $ 135,360 Net fixed assets $ 344,966 Owner's equity $ 231,918 Total assets $ 391,254 Total liabilities and owners’ equity $ 391,254 GRAFFITI ADVERTISING, INC. Balance Sheet as of December 31, 2016 Cash $ 14,486 Accounts payable $ 10,530 Accounts receivable 21,081 Notes payable 16,484 Inventory 22,772 Current liabilities $ 27,014 Current assets $ 58,339 Long-term debt $ 153,800 Net fixed assets $ 406,293 Owner's equity $ 283,818 Total assets $ 464,632 Total liabilities and owners’ equity $ 464,632
The computation is shown below:
Cash flow to creditors is
= Interest expense - long term debt on 2016 + long term debt on 2015
= $19,692 - $153,800 + $135,360
= $1,252
And, the cash flow to stockholder is
= Dividend paid - owner equity 2016 + owner equity 2015 + retained earnings
= $11,400 - $283,818 + $231,918 + $49,380
= $8,880
Jessica is a U.S. Army Reservist and in 2020 traveled 130 miles each way to serve duty at a local military installation. She was required to report four times in 2020. Her normal route from home to the base included a $1.75 toll each way. Jessica's for AGI deduction for these costs is:
Answer:
AGI Deduction = 580.8 US dollars.
Explanation:
Solution:
Data Given:
Miles traveled = 130 miles
Reporting Period = 4 times in 2020
Cost from home to base = $1.75 toll each way.
Jessica's for AGI deduction for these costs is:
First, we need to find the travel amount:
Travel amount = Miles x Reporting Period x 2 x Mileage rate for deduction
Here, mileage rate for deduction = 0.545 per mile. So,
Travel Amount = 130 miles x 4 times x 2 x 0.545
Travel Amount = 566.8 US dollars.
Now, we need to find the Jessica's Toll Expenses.
Toll Expenses = 1.75 x 2 x 4 times
Toll Expenses = 14 US dollars.
Finally, we can find the required AGI Deduction:
AGI Deduction = Travel Amount + Toll Expenses.
AGI Deduction = 566.8 US dollars + 14 US dollars
Hence, Jessica's AGI deductions are:
AGI Deduction = 580.8 US dollars.
Direct labor or machine hours may not be the appropriate cost driver for overhead in all areas of manufacturing due to the complexities of many manufacturing processes. Many companies use activity-based costing (ABC) which uses multiple drivers (items that consume resources) rather than just one driver to apply overhead to their activities. With ABC, a company can use a cost driver that has a direct cause/effect relationship in its applied overhead costs.
Waterways looked into ABC as a method of costing because of the variety of items it produces and the many different activities in which it is involved.
Using the following information, determine the overhead rates and the actual cost assigned for each of the activity cost pools in a possible ABC system for Waterways. (Round answers to 2 decimal places, e.g. 12.25.)
WATERWAYS CORPORATION
Activity Cost
Pools Cost Drivers Estimated
Overhead Expected
Use of Cost
Drivers per
Activity Actual Use of
Drivers
Irrigation installation Labor cost $1,998,432 12,960 12,941
Machining (all machine use) Machine hours 1,670,400 33,408,000 33,409,000
Customer orders Number of orders 30,636 2,553 2,520
Design Cost per design 820 8 7
Selling Number of sales calls 350,400 21,900 22,100
WATERWAYS CORPORATION
Activity Cost
Pools Activity-
Based
Overhead
Rates Actual
Cost
Assigned
Irrigation installation $
$
Machining (all machine use)
Customer orders
Design
Selling
How would you classify each of the following activities by level—unit level, batch level, product level, or facility level?
Testing of products (if all items are tested)
BatchProductFacilityUnit
Testing of products (if all items are not tested)
BatchFacilityUnitProduct
Designing new products
FacilityUnitBatchProduct
Packaging
BatchProductFacilityUnit
Molding
FacilityUnitProductBatch
Assembling
UnitFacilityBatchProduct
Depreciation
ProductBatchFacilityUnit
Machine maintenance
UnitBatchProductFacility
Advertising
ProductUnitFacilityBatch
Equipment setups
ProductBatchFacilityUnit
Electricity required to run equipment
BatchProductFacilityUnit
Requisitioning materials
UnitProductFacilityBatch
Answer:
WATERWAYS CORPORATION
a.
Activity Cost Overhead Actual Cost
Pools Activity- Rates Assigned
Based
Irrigation installation $ 154.20 $1,995,502.20
Machining (all machine use) $0.05 1,670,450.00
Customer orders $12 30,240.00
Design $102.50 717.50
Selling $16 353,600.00
b. Classification of activities by level:
Activities Levels
Testing of products (if all items are tested) Unit
Testing of products (if all items are not tested) Batch
Designing new products Product
Packaging Unit
Molding Product
Assembling Batch
Depreciation Facility
Machine maintenance Unit
Advertising Product
Equipment setups Batch
Electricity required to run equipment Facility
Requisitioning materials Unit
Explanation:
a) Data and Calculations:
WATERWAYS CORPORATION
Activity Cost Estimated Expected Actual Use
Pools Cost Drivers Overhead Use of Cost of Drivers
Drivers per
Activity
Irrigation installation Labor cost $1,998,432 12,960 12,941
Machining Machine hours 1,670,400 33,408,000 33,409,000
Customer orders No. of orders 30,636 2,553 2,520
Design Cost per design 820 8 7
Selling No. of sales calls 350,400 21,900 22,100
Overhead Rates:
Irrigation $1,998,432/12,960 = $154.20 per DLH
Machining 1,670,400/33,408,000 = $0.05 per machine hour
Customer orders 30,636/2,553 = $12 per order
Design 820/8 = $102.50 per design
Selling 350,400/21,900 = $16 per sales call
Activity Cost Overhead Actual Cost
Pools Activity- Rates Assigned
Based
Irrigation installation $ 154.20 $1,995,502.20 ($154.20*12,941)
Machining (all machine use) $0.05 1,670,450($0.05*33,409,000)
Customer orders $12 30,240 ($12*2,520)
Design $102.50 717.50($102.50*7)
Selling $16 353,600($16*22,100)
b) Levels of Activity:
Unit-level activities: At this level, the costs are concerned with direct materials, direct labor, and machine maintenance.
Product-level activities are specific to a product.
Batch‐level activities require a group (batch) of units to be produced or some processes performed together.
Facility-level activities are support activities required for the development and production of goods and services. They are organization-wide.
Eaton Tool Company has fixed costs of $407,400, sells its units for $90, and has variable costs of $48 per unit. a. Compute the break-even point. b. Ms. Eaton comes up with a new plan to cut fixed costs to $320,000. However, more labor will now be required, which will increase variable costs per unit to $51. The sales price will remain at $90. What is the new break-even point
Answer and Explanation:
The computation of the break even point is given below
As we know that
Break even point is
= (Fixed cost) ÷ (Selling price per unit - variable cost per unit)
a. Break even point is
= ($407,400) ÷ ($90 - $48)
= 9,700 units
b. The break even point is
= ($320,000) ÷ ($90 - $51)
= 8,205 units
A supply curve is upward-sloping because At higher prices sellers have a greater incentive to produce more, ceteris paribus. The law of supply states that as price rises, the quantity supplied increases. At lower prices sellers may not be covering their costs of production and are therefore willing to supply less. All of the answers are correct.
Answer:
All of the answers are correct.
Explanation:
The law of supply states that in a production process when the price of. Commodity increases the suppliers are more willing to supply more goods, while when price falls suppliers tend to supply less goods.
This is as a result of lower motivation to sell at a lower price where profit margins are low. The higher the price the more the profit made so they are more motivated.
Also when prices are too low the suppliers may barely cover their cost of production so they tend to supply less.
Attached is a diagram of the supply curve
Please answer thank you !!!
Answer:
I think its the 3 one
fter 15 years of employment in the airline industry, John started his own consulting company to use physical and computer simulation in the analysis of commercial airport accidents on runways. He estimates his average cost of new capital at 8% per year for physical simulation projects, that is, where he physically reconstructs the accident using scale versions of planes, buildings, vehicles, etc. He has established 17% per year as the MARR. What net rate of return on capital investments for physical simulation does he expect
Answer:
The answer is "9%".
Explanation:
Please find the complete question in the attached file.
The formula for calculating the net return rate:
[tex]\to \text{Net return rate= MARR - Capital Cost}[/tex]
[tex]= 17\% - 8\% \\\\= 9\%[/tex]
Therefore, the net return rate is 9%.
Which qualification is necessary for a Mental Health Counselor?
A.) Knowledge of psychology and related books and resources
B.) Understanding of a psychology and religious tradition
C.) Understanding of psychology, and mathematics
D.) Knowledge of psychology and history of psychology
Answer:
i think its C. Understanding of Psychology, and Mathematics. Sorry if im wrong
Explanation:
Understanding psychology and mathematics qualification are necessary for a Mental Health Counselor. The correct option is C.
What is the connection between psychology and mathematics?
The area of psychology known as mathematical psychology is concerned with using mathematical and computational models to analyze and forecast human behavior. Memory, attention, problem-solving, perception, decision-making, and motor control are typical areas of interest.
Psychologists can interpret data and gain a better understanding of the brain with math. Therefore, having these skills is essential if you want to be as productive as possible at work. Though they usually focus on a person's behavior and thought processes, therapists can benefit from having a basic understanding of math. Students who understand math will do better in their science classes because math is closely related to the subjects they study.
Thus, the ideal selection is option C.
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Michael's, Inc., just paid $2.60 to its shareholders as the annual dividend. Simultaneously, the company announced that future dividends will be increasing by 5.6 percent. If you require a rate of return of 9.8 percent, how much are you willing to pay today to purchase one share of the company's stock
Answer:
$65.37
Explanation:
Calculation for how much are you willing to pay today to purchase one share of the company's stock
Using this formula
P/0 = D0 ( 1 + g ) / R-g
Let plug in the formula
P/0 = $2.60 (1 + .056) / .098 - .056
P/0 = $2.60 (1 .056)/0.042
P/0=$2.7456/0.042
P/0=$65.37
Therefore how much are you willing to pay today to purchase one share of the company's stock will be $65.37
The present value of $40,000 to be received in two years, at 12% compounded annually, is (rounded to nearest dollar)
Oa. $40,000
Ob. 58,112
Oc. $31,888
Od. $48,112
Answer:
c. $31,888
Explanation:
The formula for calculating the present value is as below
Pv = FV x { 1/ (1+ r)^n }
Pv = $40,000 x { 1/ (1 +0.12)^2
Pv =$40,000 x (1/1.2544)
Pv =$40,000 x 0.7971938
Pv =$31,887.50
How start a digital platform?
Answer:
Building an effective platform starts with building a single source of truth about an individual. If a company wants to able to treat people as individuals with their unique identity, it needs to build a single repository or database about that individual.
Explanation:
Whispering Corporation has retained earnings of $715,700 at January 1, 2020. Net income during 2020 was $1,567,700, and cash dividends declared and paid during 2020 totaled $83,500. Prepare a retained earnings statement for the year ended December 31, 2020. Assume an error was discovered: land costing $88,840 (net of tax) was charged to maintenance and repairs expense in 2019.
Answer:
$2,288,740
Explanation:
Preparation of a retained earnings statement for the year ended December 31, 2020
RETAINED EARNINGS STATEMENT
For the Year Ended December 31, 2020
Retained earnings, January 1, as reported $715,700
Correction for overstatement of expenses in
prior period (net of tax) $88,840
Retained earnings, January 1, as adjusted $804,540
($715,700+$88,840)
Add Net income $1,567,700
Less Cash dividends ($83,500)
Retained earnings, December 31 $2,288,740
($804,540+$1,567,700-$83,500)
Therefore retained earnings statement for the year ended December 31, 2020 will be $2,288,740
On April 1, Cyclone's Co. purchases a trencher for $314,000. The machine is expected to last five years and have a salvage value of $57,000. Exercise 8-11 Straight-line, partial-year depreciation LO C2 Compute depreciation expense at December 31 for the first and second year assuming the company uses the straight-line method.
Answer:
Annual depreciation= $51,400
Explanation:
Giving the following information:
Purchase price= $314,000
Salvage value= $57,000
Useful life= 5 years
To calculate the depreciation expense under the straight-line method, we need to use the following formula:
Annual depreciation= (original cost - salvage value)/estimated life (years)
Annual depreciation= (314,000 - 57,000) / 5
Annual depreciation= $51,400
The depreciation expense is the same every year.
please HELP ME ILL GIVE BRAINLIEST
How does a command economy differ from a mixed market economy?
In a command economy, citizens have fewer property rights. In a mixed market economy, citizens have more property rights.
In a command economy, citizens have more property rights. In a mixed market economy, citizens have fewer property rights.
In a command economy, citizens own all public property. In a mixed market economy, the government owns all private property.
In a command economy, citizens own all private property. In a mixed market economy, the government owns all public property
Answer:
Market economies utilize private ownership as the means of production and voluntary exchanges/contracts. In a command economy, governments own the factors of production such as land, capital, and resources. Most nations operate largely as a command or market economy but all include aspects of the other.
Answer:
In a command economy, citizens have fewer property rights. In a mixed market economy, citizens have more property rights.
Explanation:
so easy
6 . How shifts in demand and supply affect equilibrium Consider the market for pens. Suppose that the number of students with an allergy to pencil erasers increases, causing more students to switch from pencils to pens in school. Moreover, the price of ink, an important input in pen production, has increased considerably.
Answer:
Suppose that the number of students with an allergy to pencil erasers increases, causing more students to switch from pencils to pens in school.
This will shift the demand curve to the right, increasing the total demand at all price levels.Moreover, the price of ink, an important input in pen production, has increased considerably.
This will shift the supply curve to the left, increasing the price of pens at every demand level.What is sure is that the price of pens will increase. It is likely that the quantity demanded increases, but the extent by which the quantity demanded will increase is unknown.
What is profit motive
Answer:
the desire for financial gain as an incentive in economic activity.
Kluth Corporation has two manufacturing departments--Molding and Customizing. The company used the following data at the beginning of the year to calculate predetermined overhead rates: Molding Customizing TotalEstimated total machine-hours (MHs) 9,000 3,600 12,600Estimated total fixedmanufacturing overheadcost $36,000 $13,320 $49,320Estimated variablemanufacturing overheadcost per MH $2.50 $3.00During the most recent month, the company started and completed two jobs--Job C and Job M. There were no beginning inventories. Data concerning those two jobs follow: Job C Job MDirect materials $16,700 $9,900Direct labor cost $23,400 $10,300Molding machine-hours 2,700 6,300Customizing machine-hours 3,000 600Required:Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments. Further assume that the company uses a markup of 20% on manufacturing cost to establish selling prices. Calculate the selling prices for Job C and for Job M.
Answer:
Selling price for Job C $93,300
Selling price for Job M $78,204
Explanation:
The computation of the selling prices for Job C and for Job M is given below:
But before that following calculations need to be done
Departmental overhead rates:
Molding 6.50 (2.5 + (36000 ÷ 9000))
Customizing 6.70 (3 + (13320 ÷ 3600)
Particulars Job C Job M
Direct materials $16,700 $9,900
Direct labor cost $23,400 $10,300
Overhead applied:
Molding $17,550 $40,950
(2700 × 6.50) (6300 × 6.50)
Customizing $20,100 $4,020
(3000 × 6.70) (600 × 6.70)
Total manufacturing cost $77,750 $65,170
Add: Markup at 20% $15,550 $13,034
Selling price $93,300 $78,204
Using the information presented above, determine the following: Determine EPS for Net Income ('x2) $_____________________ (Round your answer to the nearest whole cent. Example: if you determine EPS from Net Income to be $6.94724, round your answer to 6.95. If you determine EPS from Net Income to be $6.94321, round your answer to 6.94. Do not use dollar signs in recording your answer.)
Question Completion:
Income Before Taxes (from ongoing operations) $2,470,000
Income Tax Rate (’x2) 30%
5% Preferred Stock ($100 Par, 10,000 shares issued)
Common Stock ($1 par, 600,000 shares issued, 500,000 outstanding)
Answer:
The company's EPS is:
= 3.46
Explanation:
a) Data and Calculations:
Income Before Taxes (from ongoing operations) (’x2)= $2,470,000
Income Tax Rate (’x2) = (30% * $2,470,000) = $741,000
Net Income after taxes = $1,729,000
5% Preferred Stock ($100 Par, 10,000 shares issued) = $1,000,000
Common Stock ($1 par, 600,000 shares issued, 500,000 outstanding)
Outstanding common stock = $500,000
EPS (Earnings per share) = Net income after taxes/No. of outstanding shares
= $1,729,000/500,000
= $3.458
b) The earnings per share (EPS) equals Company A's net profit after taxes divided by the number of its outstanding common stock shares. Using the EPS, it indicates how much money Company A makes for each share of its stock. As a widely used metric, a potential stockholder of Company A can use it to estimate Company A's value when combined with the price per share.
Consider the case of the following annuities, and the need to compute either their expected rate of return or duration. Ryan inherited an annuity worth $3,280.16 from his uncle. The annuity will pay him five equal payments of $800 at the end of each year. The annuity fund is offering a return of
Answer:
7%
Explanation:
present value of an annuity = annual payment x PV annuity factor
PV annuity factor = $3,280.16 / $800 = 4.1002
using an annuity table, given 5 periods and the factor value, the i = 7%
you could also calculate it by solving:
4.1002 = [1 - 1/(1 + i)ⁿ ] / i
but it is much longer and difficult than just looking at a table
Jim and Joan owned a farm which produced fruits and vegetables for sale. The farm was located in a heavily populated area. Every year, hundreds of customers came to buy produce from them at the farm. One day, customers were surprised to see that the farm stand was gone and that Jim and Joan had sold the property for a much higher price than farm land would normally cost. Which principle of value did the appraiser use in determining the value of the property?
Answer:
Highest and best use
Explanation:
The highest and best use principle explains the probable as well as reasonable and legal use of lands that are vacant as well as improved property. This property or land must be financially feasible and be supported appropriately so that the result gives highest value.
There are a number of statistics computed to measure the price level, such as the GDP deflator and the CPI. The choice of which of these measures to use depends in many cases on the specific question in which you are interested. For each of the following situations, state whether the CPI or GDP deflator is a more appropriate measure to use and explain why the statistic is preferred.
Question Completion:
a. You are interested in looking at the impact of higher prices of imported oil in the overall cost of living.
b. The government is interested in whether increases in defense spending are affecting the price level.
c. An economic consulting firm is investigating the impact on the aggregate price level of more computers and electronic technology used in production.
Answer:
The GDP Deflator and the CPI
a. The CPI is used here, as its measure is not restricted to domestically produced goods and services.
b. The GDP Deflator is more appropriate here. Defense spending is not related to consumer goods and services but to government spending, which is a component of the GDP.
c. The GDP Deflator is more appropriate with this investigation. Computers and electronic technology used in production relate to business Investments, which are a component of the GDP and are not part of consumer goods and services or a component of the CPI.
Explanation:
The GDP deflator is exclusively used to measure the prices of all goods and services produced domestically in an economy and is based on the nominal or real GDP. On the other hand, the CPI (Consumer Price Index) is used to measure the weighted average prices of a basket of consumer goods and services, whether produced domestically or imported.
4.9 Each day of the week you meet with your direct supervisor and your coworkers for a morning meeting. The meeting is open-forum and issues, goals, topics, and ideas are all discussed at the meeting, during which the supervisor responds when able and asks for feedback often. This is an example of ___________________________________. A. authority compliance management B. team management C. country club management D. middle-of-the-road management
Answer:
B. team management
Explanation:
A team can be defined as a group of people or set of individuals with various skill set, knowledge and experience coming together to work on a project or task in order to successfully achieve a set goal and objective.
This ultimately implies that, a team comprises of individuals, workers or employees having complementary skills, knowledge and experience needed to execute a project or task successfully. Therefore, workers working as a team usually interact with the other team members and as a result, this enhances performance and strengthen the level of relationship they share.
In this scenario, each day of the week you meet with your direct supervisor and your coworkers for a morning meeting. The meeting is open-forum and issues, goals, topics, and ideas are all discussed at the meeting, during which the supervisor responds when able and asks for feedback often. This is an example of team management.
The dean of a school of business is forecasting total student enrollment for this year's summer session classes based on the following historical data: Year Enrollment Four years ago 2000 Three years ago 2200 Two years ago 2800 Last year 3000 What is this year's forecast using the least squares trend line for these data
Answer:
I used an Excel spreadsheet to calculate R² which gives us the least squares trend. See attached image.
y = 360x + 1600
R² = 0,9529
next year's enrollment should be = (360 x 5) + 1600 = 3400
Jose has the opportunity to invest in a scheme which will pay $5000 at the end of each of the next 5 years. He must invest $10,000 at the start of the first year and an additional $10,000 at the end of the first year. What is the present value of this investment if the interest rate is 8%?
Answer: $19963.6
Explanation:
The present value of this investment if the interest rate is 8% would be gotten by using the formula below;
PV = PMT/[r × (1+r)^n / (1+r)^n -1]
PV = 5000[8% × (1+8%)^5 / (1+8%)^5-1
PV = 5000[0.08 + 1.08^5 / 1.08^4
PV = 19963.6
Therefore, the present value of the investment is 19963.6
Assume that the entry closing total revenues of $3,190,000 and total expenses of $2,350,000 has been made for the year ending December 31. At the end of the fiscal year, Teresa Schafer, Capital has a credit balance of $1,885,000 and Teresa Schafer, Drawing has a balance of $770,000. Required: (a) Journalize the entry required to close the Teresa Schafer, Drawing account. Refer to the Chart of Accounts for exact wording of account titles. (b) Determine the amount of Teresa Schafer, Capital at the end of the period.
Answer:
a. To close off the Drawing account, post the drawing to the Capital account:
Date Account Details Debit Credit
December 31 Teresa Schafer, Capital $770,000
Teresa Schafer, Drawing $770,000
b. Amount in Capital account.
Calculate Net income:
= Revenue - Expenses
= 3,190,000 - 2,350,000
= $840,000
Teresa Schafer, Capital at December 31, 20XX
Opening Balance $1,885,000
Add: Net income $ 840,000
$2,725,000
Less: Drawing ($770,000)
Closing balance $1,955,000
The three steps for reframing a conversation with an angry customer are; here’s who we are here’s what we do and here’s how we can help
Select one:
True
False
The three steps for reframing a conversation with an angry customer are; here’s who we are, here’s what we do and here’s how we can help is the correct statement.
Who are customers?Customers are the people that buys some goods or services from the shop or anywhere. Customers always feel satisfied and accomplished with the overwhelming experience of shopping. If the customers are happy, they become permanent customers.
Thus, the statement is true.
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Assume sales are $14,570, cost of goods sold is $3,820, depreciation expense is $410, interest paid is $730, selling and general expenses are $960, dividends paid are $1,170, and the tax rate is 21 percent. What is the addition to retained earnings
Answer:
Amount added to retained earnings $5,663.50
Explanation:
The computation of the addition to the retained earning is shown below:
Sales $14,570
Less: Cost of goods sold -$3,820
Less: Depreciation -$410
Less: Interest paid -$730
Less: Selling and administration expenses -$960
Profit Before Tax $8,650
Less: Tax at 21% -1,816.50
Profit After tax $6,833.50
Less: Dividend paid -$1,170
Amount added to retained earnings $5,663.50
A grandfather wants to know the average height of all his grandchildren. He finds that the heights of his 9 grandchildren are given in inches by 67,68,71,67,76, 74, 77,70, 72 What is the population mean of the height of his grandchildren in inches? Round your answer to the nearest tenth of an inch and do not include units.
Answer:
71.3
Explanation:
to find the mean you have to add all of the heights together and then divide by nine, which is how many heights are given.
