Answer:
$32,500
Explanation:
The items that appear on the Bank Statement and not on the Cash Book are used to update the Cash Book Balance.
Rahm Corp
Cash Book
Debit :
Balance before adjustment $32,800
Interest earned $100
Total $32,900
Credit :
Dishonored check $400
Balance (adjusted) $32,500
Total $32,900
Therefore,
Rahm Corp.'s adjusted cash balance at September 30, 2017 is $32,500
g On January 1, 2019 FirstEnergy Corp issued 19,000 shares of $100 par, 8%, cumulative, preferred stock for $110 per share. No dividends have been paid to preferred or common shareholders. What amount of dividends will a preferred shareholder owning 100 shares receive in 2021 if FirstEnergy pays $1,000,000 in dividends
Answer: $2640
Explanation:
Based in the information given,
Par value of preferred stock = $110
Rate of dividend = 8%
Therefore, the preferred dividend per share will be:
= $110 × 8%
= $110 × 0.08
= $8.80
It should be noted that the cumulative dividend from 2019 to 2021 will be for 3 years. Therefore, the dividend to 100 preferred shareholder in 2021 will be:
= 100 × $8.80 × 3
= $2640
A monthly payment of X is calculated on a 30 year, 100,000 mortgage at a nominal rate of interest of 9%, convertible monthly. If a payment of one-half of X is made every two weeks, how many years will it take to pay off the mortgage, assuming a year consists of exactly 52 weeks
Answer:
the number of years taken to pay off the mortgage is 22 years
Explanation:
The computation of the number of years taken to pay off the mortgage is as follows;
= NPER (((1 + 9% ÷ 12)^(12 ÷ 26) - 1),0.5 × PMT(9% ÷ 12,12 × 30 ,100,000),100,000)
= 567.398762 biweeks or 21.82302931 years
= 22 years
hence, the number of years taken to pay off the mortgage is 22 years
On December 31, 2017, Swan Company sold for $150,000 an old machine having an original cost of $170,000 and a book value of $120,000. The terms of the sale were as follows: $30,000 down payment $60,000 payable on December 31 each of the next two years The agreement of sale made no mention of interest; however, 9% would be a fair rate for this type of transaction. What should be the amount of the notes receivable net of the unamortized discount on December 31, 2017 rounded to the nearest dollar
Answer:
the amount of the notes receivable net of the unamortized discount is $105,546
Explanation:
The computation of the amount of the notes receivable net of the unamortized discount is shown below:
= AMount payable for next two years × present value of an ordinary annuity at 9% for 2 years
= $60,000 × 1.75911
= $105,546
hence, the amount of the notes receivable net of the unamortized discount is $105,546
When Joshua's income increases, he purchases more prime-rib dinners than he did before his income increased. For Joshua, prime-rib dinners are Group of answer choices a normal good. an inferior good. an optimal good. a Giffen good.
Answer:
a normal good
Explanation:
A normal good is one that a consumer buys normally and when there is an increase in his income there is an increase in the demand of this good.
The opposite of this is an inferior good whose demand falls sometimes to zero as income increases. Consumers choose other goods to consume as income increases.
In the given instance where Joshua's income increases and he purchases more prime-rib dinners than he did before his income increased, this is a normal good for him.
g A contractionary fiscal policy is a policy that: reduces aggregate demand by decreasing government purchases. reduces aggregate demand by decreasing money supply. reduces aggregate demand by decreasing interest rates. reduces aggregate demand by decreasing taxes.
Answer:
reduces aggregate demand by decreasing government purchases.
Explanation:
Fiscal policy in economics refers to the use of government expenditures (spending) and revenues (taxation) in order to influence macroeconomic conditions such as Aggregate Demand (AD), inflation, and employment within a country. Fiscal policy is in relation to the Keynesian macroeconomic theory by John Maynard Keynes.
A fiscal policy affects combined demand through changes in government policies, spending and taxation which eventually impacts employment and standard of living plus consumer spending and investment.
Generally, the national government of a country might use a contractionary policy to slow down the economy when inflation is high and gross domestic product (GDP) is growing too.
Hence, a contractionary fiscal policy is a policy that is typically used by the government to reduce aggregate demand by decreasing government purchases.
Aggregate demand (AD) can be defined as the total quantity of output (final goods and services) that is demanded by consumers at all possible price levels in an economy at a particular time.
An aggregate demand curve gives a negative relationship between the aggregate price level for goods or services and the quantity of aggregate output demanded in an economy at a specific period of time.
1. Understanding opportunity cost You work as an assistant coach on the university swim team and earn $13 per hour. One day, you decide to skip the hour-long practice and go to the local carnival instead, which has an admission fee of $9. The total cost (valued in dollars) of skipping practice and going to the carnival (including the opportunity cost of time) is .
Answer:
Total cost = $22
Explanation:
Below is the calculaton:
The per-hour earning = $13 per hour
The admission fee of carnival = $9
In order to find the total cost, just add the per hour earning and fee of carnival.
Thus, total cost = Admission fee + Earning from assisting the swim team
Total cost = $9 + $13
Total cost = $22
NaviCal Inc., a personal navigation system company, has contracted its manufacturing to a firm in Malaysia for five years. NaviCal had high financial growth, and it wants to purchase the manufacturing facility. This market entry method is called ________.
Answer:
Direct foreign investment
Explanation:
Foreign direct investment (FDI) is done in the case when the company controls the ownership in the other country of the business entity
Here the foreign company would be directly linked with the day to day operations that done in the other country this means that here not only the contribution of money matters but also the knowledge, skills, capabilities, techonology is also matter
Therefore the above represent the answer
The government uses taxes and subsidies to guide consumption and production decisions.
a. True
b. False
Answer: True
Explanation:
Tax is the amount of money that's paid by an individual or firm to the government. Subsidies are the funds or other forms of assistance that's given by the government to firms in order to help them increase their production and lower the prices of goods.
Fir example, if the government wants to decrease consumption in the economy, the government can increase tax. On the other hand, the government can increase consumption by reducing tax as people will have money to spend and also more money for production purpose.
A closeout report is primarily used to
Answer:
draft the summary of a project plan and the performance efficiency of it.
Explanation:
A closeout report is primarily used to "draft the summary of a project plan and the performance efficiency of it."
Closeout report is a means of preparing an analysis of a project plan, including the result, in which the differences, pros, and cons, are listed out.
It also contains the performance rating or measure to determine the level of success of a project plan.
Diane Corporation is preparing its year-end balance sheet. The company records show the following selected amounts at the end of the year:
Total assets $530,000
Total noncurrent assets 306,000
Liabilities:
Notes payable (8%, due in 5 years) 21,000
Accounts payable 54,000
Income taxes payable 15,000
Liability for withholding taxes 1,000
Rent revenue collected in advance 11,000
Bonds payable (due in 15 years) 112,000
Wages payable 11,000
Property taxes payable 7,000
Note payable (10%, due in 6 months) 13,000
Interest payable 700
Common stock 120,000
1-a. What is the amount of current liabilities?1-b. Compute working capital.2. Would your computation be different if the company reported $250,000 worth of contingent liabilities in the notes to its financial statements?
Answer and Explanation:
The computation is shown below;
1-a
Current liabilities:
Acccounts payable $54,000
Income tax payable $15,000
Liability for withholding taxes $1,000
Rent revenue collected in advance $11,000
Wages payable $11,000
Property tax payable $7,000
Note payable $13,000
Interest payable $700
Current liabilities $112,700
1-b
Total assets $530,000
Less: Non Current assets $306,000
Current assets $224,000
Less: Current liabilities - $112,700
Working capital $111,300
2.
In the case when the company reported $250,000 as the contingent liability so it should not be impacted as they are not yet recorded
If interest rates increase, business investment expenditures are likely to ______ and consumer durable expenditures are likely to _________. Multiple Choice decrease; decrease decrease; increase increase; decrease increase; increase
Answer:
increase
decrease
Explanation:
When interest rate increases, the interest income earned on investments increases. As a result, investment expenditures increases
According to economic theory, disposable income is either saved or spent. If saving increases, expenditure decreases
Date Transaction Number of Units Unit Cost Apr. 1 Beginning inventory 500 $2.40 Apr. 20 Purchase 400 2.50 700 units of inventory were sold during the month. Ending inventory assuming FIFO would be:
Answer:
Ending inventory= $500
Explanation:
Giving the following information:
Apr. 1 Beginning inventory 500 $2.40
Apr. 20 Purchase 400 2.50
700 units of inventory were sold during the month
First, we need to determine the number of units in ending inventory:
Ending inventory in units= 900 - 700= 200
Under the FIFO (first-in, first-out) method, the ending inventory is calculated using the cost of the last units incorporated into the inventory.
Ending inventory= 200*2.5
Ending inventory= $500
What types of crime you experience most frequently?
Answer:
well if you live in a safe country
Explanation:
u wont experience any crime
Answer:
Hey mate.....
Explanation:
This is ur answer.....
There are many cases going on maybe now or everytime but like now around me there are no cases I experienced till now.....But if you are asking the frequent cases that take place nowadays is most probably Cyber bullying.....
Hope it helps!
Brainliest pls!
Follow me! :)
A welding company specializes in custom steel frames and uses job costing to account for its operations. The following information is available as of May 1 for the work-in-process inventory account:
Job# Direct Materials Direct Labor Man. Overhead Total Cost
304 $3,000 $1,800 $2,520 $7,320
306 4,000 2,100 2,940 9,040
Total Cost 7,000 3,900 5,460 16,360
Welding Company pays an hourly rate of $15 for direct labor. Manufacturing overhead costsare applied to jobs based on the direct labor hours used. During the month of May, Jacob Welding spends $5,800 to purchase materials and $4,650 for manufacturing overhead. The operations in May are summarized below.
Job# Material Requisition summary Time Card Summary (Hours)
304 $1,100 40
306 900 30
307 2,800 110
308 750 25
Total 5,550 205
Jobs 304, 306, 307 are completed in May but only Jobs 304 and 307 are delivered to customers.
Required:
Calculate the predetermined overhead rate used.
Answer: $21 per direct labor hour.
Explanation:
Based on the information given in the question, the predetermined overhead rate that is used will be calculated as:
= Manufacturing overhead / Direct labor
where,
Manufacturing overhead = 5460
Direct labor = 3900/15 = 260 hours
Therefore, predetermined overhead rate:
= 5460/260
= $21 per direct labor hour.
Suppose that Greece and Germany both produce oil and shoes. Greece's opportunity cost of producing a pair of shoes is 5 barrels of oil, while Germany's opportunity cost of producing a pair of shoes is 11 barrels of oil.
1. By comparing the opportunity cost of producing shoes in the two countries, you can tell that _____ has a comparative advantage in the production of shoes and _____ has a comparative advantage in the production of oil.
2. Suppose that Greece and Germany consider trading shoes and oil with each other. Greece can gain from specialization and trade as long as it receives more than _____ of oil for each pair of shoes it exports to Germany. Similarly, Germany can gain from trade as long as it receives more than _____ for each barrel of oil it exports to Greece.
3. Based on your answer to the last question, which of the following prices of trade (that is, price of shoes in terms of oil) would allow both Germany and Greece to gain from trade?
a. 1 barrel of oil per pair of shoes
b. 17 barrels of oil per pair of shoes
c. 9 barrels of oil per pair of shoes
d. 10 barrels of oil per pair of shoes
Answer:
1. Greece, Germany
2. 2.2 barrels of oil, 0.45 pairs of shoes
3. d. 10 barrels of oil per pair of shoes
Explanation:
a) Data and Calculations:
To produce a pair of shoes costs Greece 5 barrels of oil
To produce a pair of shoes costs Germany 11 barrels of oil
b) This means that it costs Germany more than Greece to produce a pair of shoes, and Germany produces a lot of oil to the extent that she is willing to exchange her 11 barrels of oil for a pair of shoes while Greece can only exchange 5 barrels of oil for a pair of shoes.
_____ is a system of marketing by which organizations communicate directly with target customers to generate a response and/or a transaction.
Answer:
Direct marketing
Explanation:
In direct marketing system, companies communicate directly to customers via email, social media, phones and sms. Here, the aim of the company is to generate direct response on a particular transaction from targeted customers.
Direct marketing has been around for a while and has been used to create or know the areas requiring improvement by companies. Hence if a company or an organization aims at getting direct response on a product from targeted customer, direct marketing is often used.
The Sit-Ins were accompanied by boycotts of businesses that insisted on segregation. This often meant that protesters would not shop at popular stores, eat at popular restaurants, or go to movies at the local theater. How did boycotting affect these businesses
Answer:
I. Disruption of business activities
II. Severe losses
III. Reduced customer patronage
IV. Reduced revenue
V. Loss of customer loyalty
Explanation:
I. Disruption of business activities: The Sit-ins affected business activities in the businesses as the protesters have to take up spaces for other paying customers preventing effective service delivery to the other customers.
II. Severe losses: The businesses involved incurred high levels of losses as they lost slot of revenue from unused or unsold foods are
III. Reduced customer patronage: Customer patronage dropped as other paying customers have to boycott the businesses affected.
IV. Reduced revenue: Reduced revenue as a result of reduced patronage from the customers.
V. Loss of customer loyalty: When a business does not offer the desired services to its customers caused either through service disruption, other other factors it will most likely lead to reduced number of loyal customers.
Tidy Service Company performed cleaning services during December 2019, but had not collected any cash from its customers as of December 31, 2019. What impact did performing these services have on the accounting equation
Answer:
The service increased assets and increased stockholders' equity
Explanation:
Based on the information given the impact that
did performing these services have on the accounting equation will be THE SERVICE INCREASED ASSETS AND INCREASED STOCKHOLDERS' EQUITY reason been that
when Performing the services will help to generate revenue,
anyone here earn money from brainly and how
please guide me
Hi, you've asked an incomplete question. However, I assumed you want to know what Brainly platformed.
Explanation:
It is interesting to note that the Brainly platform is designed specifically for students to learn from their peers mostly free of charge, and it allows them to find answers to homework questions.
Profit Suppose that the daily profit (in dollars) from the production and sale of x units of a product is given byP180xx210002000At what rate per day is the profit changing when the number of units produced and sold is 100 and is increasing at a rate of 10 units per day
Answer:
The answer is "1798".
Explanation:
[tex]\to p=180x-\frac{x^{2}}{1000}-2000[/tex]
In order to find the rate of profit increase each day, we differentiate between the money demand function and the time t.
[tex]\to \frac{dp}{dt}=180\frac{dx}{dt}-\frac{2x}{1000}\frac{dx}{dt} \\\\\to \frac{dp}{dt}=\frac{dx}{dt}\left (180-\frac{2x}{1000} \right ).................(1)[/tex]
Calculate [tex]\frac{dp}{dt}[/tex] when [tex]x=100[/tex]
[tex]\frac{dx}{dt}=10[/tex] (Extension rate of produced and delivered units per day)
[tex]x=100 \ and\ \frac{dx}{dt}=10 ......... in \ \ eq(1)\\\\\frac{dp}{dt} = 10\left (180-\frac{2(100)}{1000} \right )\\\\[/tex]
[tex]=10\left (180-0.2\right ) \\\\=1798 \\\\[/tex]
explain the function of an office
Answer: An office is a place to preform different activities of a business organization
Explanation:
The office preforms clerical function such as information collection recording and analyzing.
When an intranet is extended outside the corporate walls to include suppliers, customers, or other external agents, it becomes a(n
Answer:
Extranet
Explanation:
intranet can be regarded as private network which is been contained within an enterprise and it is used to securely share the information if company and computing resources among employees. It can also be utilized in facilitation of working in groups as well as teleconferences.
Extranet can be regarded as controlled private network which give access to partners as well as vendors and suppliers, and authorized set of customers so that they can be a
subset of the information which will be accessible from intranet of the organization. It should be noted that When an intranet is extended outside the corporate walls to include suppliers, customers, or other external agents, it becomes Extranet.
Calc, Inc. owns a machine that produces baskets for the gift packages the company sells. The company uses 900 baskets in production each month. The costs of making one basket is $4 for direct materials, $3 for variable manufacturing overhead, $2 for direct labor, and $5 for fixed manufacturing overhead. The unit cost is based on the monthly production of 900 baskets. The company determined that 30% of the fixed manufacturing overhead is avoidable. An outside supplier has offered to sell Calc the baskets for $13 each, and can supply all the units it needs.
Required:
a. Prepare an incremental analysis to determine if Calc should buy the baskets from the supplier.
b. Show the impact on net income and indicate whether they should make or buy the baskets.
Answer:
Cost Structure of producing 900 units
Particulars Cost Monthly Total cost
per unit production Units
Direct material cost 4 900 $3,600
Direct Labor 2 900 $1,800
Variable manufacturing overheads 3 900 $2,700
Fixed Manufacturing overhead
Avoidable (30% of $5) 2 900 $1,350
Unavoidable (70% of $5) 4 900 $3,150
Total cost of making 900 units $12,600
Cost Structure of buying 900 units from outside supplier
Particulars Cost per Units required Total cost
unit to buy
Cost of purchase 13 900 $11,700
Fixed Manufacturing overhead
Unavoidable $3,150
Total cost of buying 900 units $14,850
Conclusion: Because the cost of making is lesser than cost of buying bythe amount of $2,250, the company will have to choose option of making the basket.
Bonita Industries produces flash drives for computers, which it sells for $30 each. Each flash drive costs $6 of variable costs to make. During April, 1000 drives were sold. Fixed costs for April were $6000. How much does Bonita’s operating income increase for each $2400 increase in revenue per month?
Answer:
See below
Explanation:
Sales ($30 × 1,000 drives sold)
$30,000
Less:
Variable cost ($6 × 1,000 drives sold)
($6,000)
Contribution margin
$24,000
Less:
Fixed costs
($6,000)
Operating profit
$18,000
Therefore, Bonita's operating income increases by $18,000 per month
When an accounting change is reported under the retrospective approach, prior years' financial statements are:
When more than one security is sold for a single price and the total selling price is not equal to the sum of the market prices, the cash received is allocated between the securities based on:
Answer:
Relative market values
Explanation:
Secondary market can be defined as a market where various investors sell and buy securities from other investors.
Some examples of secondary market around the world are New York Stock Exchange (NYSE), NASDAQ, London Stock Exchange (LSE) and National Stock Exchange (NSE).
On the other hand, the primary market refers to the market where these securities that are being sold are issued or created.
Price can be defined as the amount of money that is required to be paid by a buyer (customer) to a seller (producer) in order to acquire goods and services.
In sales and marketing, pricing of products, securities or stocks is considered to be an essential element of a business firm's marketing mix because place, promotion and product largely depends on it.
Generally, when more than one security is sold for a single price and the total selling price is not equal to the sum of the market prices, the cash received is allocated between the securities based on relative market values.
On November 1, 2017, Austin Services issued $305,000 of five-year bonds with a stated rate of 12%. The bonds were issued at par, and Austin makes semiannual payments on April 30 and October 31. On December 31, 2017, Austin made an adjusting entry to accrue interest at year-end. No further entries were made until April 30, 2018, when the first payment was made. What amount of interest expense was recorded for the period of January 1 to April 30, 2018
Answer:
$12,200
Explanation:
Calculation to determine the amount of interest expense was recorded for the period of January 1 to April 30, 2018
Interest expense=$305,000*12%*4/12
Interest expense=$12,200
Therefore the amount of interest expense was recorded for the period of January 1 to April 30, 2018 is $12,200
Nov. 5 Purchased 600 units of product at a cost of $10 per unit. Terms of the sale are 2/10, n/60; the invoice is dated November 5.
Nov. 7 Returned 25 defective units from the November 5 purchase and received full credit.
Nov. 15 Paid the amount due from the November 5 purchase, minus the return on November 7.
Required:
Prepare the journal entries to record each of the above purchases transactions of a merchandising company.
Answer:
Journal Entries:
Nov. 5: Debit Inventory $6,000
Credit Accounts payable $6,000
To record the purchase of 600 units of a product at a cost of $10 per unit.
Terms of the sale are 2/10, n/60
Nov. 7: Debit Accounts payable $250
Credit Inventory $250
To record the return of 25 defective units.
Nov. 15: Debit Accounts payable $5,750
Credit Cash Discounts $115
Credit Cash $5,635
To record the payment for the purchase.
Explanation:
a) Data and Analysis:
Nov. 5: Inventory $6,000 Accounts payable $6,000
Terms of the sale are 2/10, n/60; the invoice is dated November 5.
Nov. 7: Accounts payable $250 Inventory $250
Nov. 15: Accounts payable $5,750 Cash Discounts $115 Cash $5,635
Explain the potential issues that can arise by not keeping a balanced checkbook.
Answer:
Explanation:
You might not catch bank errors.
You might make an error in calculating your bank balance which could cause you to overdraft.
You might not see valid charges made by the bank.
You might forget to list automatic drafts from your checking account.
You might not catch errors you make such as double postings, etc.
you might not post automatic deposits to customer accounts, causing errors in your subsidiary ledgers.
you could double pay a bill by accident, also causing errors in subsidiary ledgers.
416,000 people each receive an average refund of $3,600, based on an interest rate of 3 percent, what would be the lost annual income from savings on those refunds
Answer:
$44,928,000
Explanation:
The fact that 416,000 received a refund of $3,600 each means that the tax authority would lose the interest income that could have been generated on the total refund amount based on a 3% interest rate of return.
Lost annual income=number of people who got refund*average refund per person*interest rate of return
number of people who got refund=416000
average refund per person=$3,600
the interest rate of return=3%
Lost annual income=416,000*$3,600*3%
Lost annual income=$44,928,000