Answer:
see below
Explanation:
In this transaction, Rs. 700 is used to pay for rent that the proprietor uses for personal use. The transaction will be captured in the drawings account. A drawing account is used to track all the money owners take from a business for personal use. The amount taken to pay rent, Rs. 700 will be debited Drawings A/c.
The transaction will decrease cash ( asset account) by Rs. 700. A decrease in assets is credited. Therefore, the cash account will be credited by Rs.700
The journal entry will be
Drawings A/c Dr. Rs.700
Cash A/c. Cr Rs.700
What is the coupon rate for a bond with 3 years until maturity, a price of $1,053.46, and a yield to maturity of 6%
Answer:
8%
Explanation:
we can use the approximate yield to maturity formula to calculate the coupon rate:
YTM = {coupon + [(face value - market value) / n]} / [(face value + market value) / 2]
0.06 = {coupon + [(1,000 - 1,053.46) / 3]} / [(1,000 + 1,053.46) / 2]
0.06 x 1,026.73 = coupon - 17.82
61.6038 + 17.82 = coupon
79.42 = coupon
since this is just an approximation, I would guess that the coupon rate is 8%, instead of 7.94%
Kenny is concerned that the amount of spam he is receiving is making him less productive at work. He knows that the
FTC is taking steps against spammers, so he begins to forward spam to them at
Answer:
Sorry, I could not type the answer here directly because it doesn't allow me.
It should be "spam" followed by "at" (the symbol sign) and "uce" plus "." and "gov"
There should be no spaces.
Explanation:
A "spam" refers to an email that you do not want in your inbox. They are mostly intended for commercial purposes–including some emails that are deceptive. There are actually many ways to reduce the amount of spam reaching your email. For example, you could use an email filter or choose a unique email address.
Kenny above wants to report the spam he is receiving, thus, he needs to forward it to the Federal Trade Commission (FTC). They are responsible for helping Kenny clear his inbox from spams.
Which one of these investments pools the funds of many investors, hires a professional money manager to manage those funds, and offers diversification to investors
Answer: Mutual Fund
Explanation:
You included no options however this should be the correct answer.
Mutual funds work by pooling the investments of many different investors and then hiring a professional to manage these funds such that the investors can make profits.
The investors will then own shares in the mutual fund which is equivalent to their investment. Mutual funds offers the advantage of diversification to its investors who will be able to invest in many diverse industries with a relatively low amount of money.
What is the prime reason that Jenny's discretionary income is more volatile than her salary?
A. Her cost of living is affected by high inflation in the neighborhood
B. Her tax rate remains 30%
C. Her mortgage payments and necessities are fixed
D. Her discretionary income and salary are equally volatile
Answer:
c. Her mortgage payments and necessities are fixed
Explanation:
Discretionary income is the remaining income after being paid out for all fixed expenses (i.e. Discretionary income = Salary - Mortgage - Income tax etc). The primary reason for variability in it is due to the mortgage payment and fixed expenses from the basic salary received.
So, option c is correct while other options are incorrect as tax does not affect as well as cost of living
As you know, the United States has consistently run a trade deficit for the past forty years. In which quarter(s), did the trade deficit fall?
Answer:
The United States has consistently run a trade deficit for the past forty years and the trade deficit fall is explained below in details.
Explanation:
The United States commerce deficit fell for the initial time in six ages in 2019 as President Donald Trump pounded China with import expenses. The Commerce Department said Monday that the hole among what the United States trades and what it purchases abroad dropped 1.8% last year to $626.9 billion.
How successful is ABC Company relative to the industry average and leaders in the small specialty retail store industry? Write two paragraphs or more. Include ratios found in the IBIS database to support your conclusion.
Answer: The first ratio, which is the current ratio have them sitting at 5.5 when the average for 2016-2017 was 1.7
Explanation:
From doing three ratios, ABC are doing well above average when it comes to the ratios carried out. The first ratio, which is the current ratio have them sitting at 5.5 when the average for 2016-2017 was 1.7 this doesn't mean they are worth meeting up with their target yet but it would require more loans and them building on what they currently have. This ratio informs them on their stand on taking more loans or not.
With an average of 2.0 in the 2016-2017 year, they are at a 1.2. The lower this ratio is the more debt they can put themselves in and not have to worry about if they could pay it off or not
Equipment that cost $653000 and has accumulated depreciation of $280000 is exchanged for equipment with a fair value of $480000 and $120000 cash is received. The exchange lacked commercial substance. The gain to be recognized from the exchange is $293000 $50600 $200000 $93000
Answer:
$50,600
Explanation:
Calculation for The gain to be recognized from the exchange is
Gain to be recognized= (12000+(12000/480000)*25300
Gain to be recognized= $50,600
Therefore The gain to be recognized from the exchange is $50,600
Mr.and Mrs.Hawell want to file thier income tax return together. Which filling status should they use?
Answer:
married
Explanation:
dont really have one
Answer:
I took that test, the examples to choose from are:
1.)Head of House Hold
2.) Married Filing Jointly
3.) Married Filing Separately
And I know that Answer is:
2.) Married Filing Jointly
Explanation:
Married filing jointly alludes to a filing status for married couples that have marry before the finish of the assessment year. When documenting under wedded documenting mutually status, couples can record their individual earnings, exceptions and derivations on a similar assessment form. Married filing jointly is ideal if just a single life partner has a critical salary.
As a human resource manager, how would you recommend that a part-time
employee is compensated?
Answer:
C. Part-time employees should be compensated with an hourly wage
because the number of hours they may work each month
changes
Multiple-choices
employee is compensated?
A. Part-time employees should be compensated with a salary
because the number of hours they may work each month
changes
O
B. Part-time employees should be compensated with an hourly wage
because the number of hours they work each month is always the
same.
O
C. Part-time employees should be compensated with an hourly wage
because the number of hours they may work each month
changes
O
D. Part-time employees should be compensated with a salary
because the number of hours they work each month is always the
same.
Explanation:
Part-time workers are called to duty on a need basis. Usually, part-time workers are assigned specific tasks to perform is within a particular duration. Their contribution is measured in terms of hours worked or completed units of output.
Part-time workers contrast with full-time workers who report for duty every working day. Part-time workers are not required to work for certain hours per week or month like full-time workers. The number of hours that a part-time worker works in a week varies from time to time. Therefore, the best way of compensating them is through an hourly rate.
Milhouse is a franchisee of Krusty Burger, LLC Their contract gives Krusty Burger the right to control virtually all aspects of Milhouse’s operation, including the hiring of employees. One of the employees, Nelson commits a tort against Ralph, one of Milhouse’s customers. Ralph files a suit against Krusty Burger. Krusty Burger is most likely
Answer:
risks liability under the doctrine of respondeat superior.
Explanation:
A franchise is a seperate business that uses the parent business brand.
The parent company can give in addition to the brand support in training, provision of some inventory, hiring, and so on.
According to the contract signed between them Krusty burger controls all aspects of the Milhouse operations, so they are a respondeat superior.
This means they are responsible for the actions of Milhouse because of their level of involvement in the franchise operations.
In the given scenario Nelson commits a tort against Ralph, one of Milhouse’s customers. Ralph files a suit against Krusty Burger.
Krusty burger will be liable because they are a respondeat superior
What challenges may arise if a U.S. project manager moves to a foreign country to manage a project for 5 years
Answer and Explanation:
The challenges that occurs is as follows;
1. Adaption of an outside atmosphere
2. Language related problem
3. Every person have different kind of understanding skills that is difficult also it must be adopted for explaining the project to the other people
So as per the given statement, the above represent the challenges that arise in the case when the project manager shifted to a foreign country for managing a project of 5 years
Assume that the Turner, Roth, and Lowe partnership is a limited partnership. Turner and Roth are general partners and Lowe is a limited partner. How much should each partner contribute to cover the remaining capital deficiency of $30,000
Explanation:
The loss on sale from selling the assets is calculated by deducting the cash proceeds from the sale of assets from the total book value of assets. The cash proceeds from sale of assets, is calculated by deducting the total liabilities remaining after paying proceeds of asset sales to creditors from the total liabilities before liquidation.
The Franklins can claim a recovery rebate credit of $________ for Cristina on their 2020 tax return. g
Answer:
The Franklins can claim a recovery rebate credit of $__1,200______ for Cristina on their 2020 tax return.
Explanation:
The CARES Act provided economic relief payments, called "Economic Impact Payments" or stimulus payments, valued at $1,200 per eligible adult, based on household adjusted gross income (AGI), plus $500 for each additional qualifying dependent under 17 years of age. According to the Act, these payments will continue through Dec. 31, 2020, and the Franklins will not be able to claim a recovery if Cristina is above 17 years. The amount can still be claimed by all eligible taxpayers in 2021 when filing their 2020 tax returns.
For bonds issued 2019, the taxpayer must amortize bond premium using which of the following methods?
a. Straight-Line Method
b. Constant Yield Method
c. Activity Depreciation Method
d. Double Declining Balance
Answer:
For bonds issued 2019, the taxpayer must amortize bond premium using the following method:
a. Straight-Line Method.
Explanation:
The premium paid by the taxpayer for a bond represents part of the cost basis of the bond. The bond premium can be tax-deductible at a rate spread out (amortized) over the bond's lifespan. The straight-line method for bond premium amortization is considered to be a simpler method than the effective interest amortization method. While the straight-line amortization divides the bond's total premium over the remaining payment periods, the effective interest, which is more complicated, computes some unique values at all points during the amortization process.
Office Depot has leveraged its store, website, and catalog channels with impressive results. The promotion of all three information and delivery channels indicates that Office Depot would like its customers to think of all of its channels as Office Depot. Office Depot is likely following a(n) __________ strategy.
Answer:
multichannel marketing
Explanation:
Marketing mix can be defined as the various choices about distribution strategy, product attributes, pricing strategy and communication strategy that a business firm or company make available to its targeted markets.
Generally, a marketing mix is made up of the four (4) Ps;
1. Products: this is typically the goods and services that gives satisfaction to the customer's needs and wants. They are either tangible or intangible items.
2. Price: this represents the amount of money a customer buying goods and services are willing to pay for it.
3. Place: this represents the areas of distribution of these goods and services for easier access by the potential customers.
4. Promotions: for a good sales record or in order to increase the number of people buying a product and taking services, it is very important to have a good marketing communication such as advertising, sales promotion, direct marketing etc.
In this scenario, Office Depot has leveraged its store, website, and catalog channels with impressive results. The promotion of all three information and delivery channels indicates that Office Depot would like its customers to think of all of its channels as Office Depot. Office Depot is likely following a multichannel marketing strategy.
A multichannel marketing can be defined as a mix of various promotional, communications and distribution channels to make goods and services available to the customers.
Budgeted fixed manufacturing cost was $890,000 for 40,000 units or 100,000 hours, Actual fixed overhead totaled $910,000. The standard fixed production overhead cost per direct-labor hour was: _________$
Answer:
Estimated fixed overhead= $8.9 per direct labor hour
Explanation:
Estimated overhead cost= $890,000
Standard hours allowed= 100,000 hours
To calculate the fixed estimated overhead per standard hour, we need to use the following formula:
Predetermined fixed manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined fixed manufacturing overhead rate= 890,000 / 100,000
Predetermined fixed manufacturing overhead rate= $8.9 per direct labor hour
Process capacity analysis is used to determine whether a process is able to meet a set of ______.
Answer:
design specification limits
Explanation:
capacity of the process can be regarded as maximum output rate of the system, and this can be measured in units which is produced per unit of time. Process capacity analysis helps in detection of number of units that goes through each of the activity. It gives the number of units that is produced due to the process realization. It should be noted that Process capacity analysis is used to determine whether a process is able to meet a set of design specification limits.
Read the scenario, and answer the questions. You are a project manager for a specialty sports equipment manufacturer. A critical member of your design team, Gwen, has been unprofessional and rude to her coworkers, and she has missed two deadlines. You need to address the problem before it gets out of hand and you fall behind schedule. What is your first step in offering Gwen constructive criticism
Answer:
Mentally outline your conversation
Explanation:
Since in the question it is mentioned that Gwen who is in a design team is unprofessional and even rude to her coworkers. Due to this, she missed two deadlines. Now you have to address this problem so here the first step is to outline your conversation in a mental way so that the chances of solving the problem is high
Therefore the same is to be considered
A corporation purchases 20 000 shares of its own $20 par common stock for $35 per share, recording it at cost. What will be the effect on total stockholders' equity?A. Increase by $400,000.B. Increase by $700,000.C. Decrease by $400,000.D. Decrease by $700,000.
Answer:
D. Decrease by $700,000.
Explanation:
The computation of the effect on the total stockholder equity is as follows
Given that
Number of shares is 20,000
Per share $35 recorded at a cost
Own shares at par is $20
As we know that if we purchased our own stock so it would be called as a treasury stock and the same is to be deducted from the shareholder equity as it is a contra equity account that reduce the equity balance
Now the effect would be
= 20,000 shares × $35
= $700,000
Hence, it is decreased by $700,000
Pacifica Industrial Products Corporation makes two products, Product H and Product L. Product H is expected to sell 40,000 units next year and Product L is expected to sell 8,000 units. A unit of either product requires 0.4 direct labor-hours. The company's total manufacturing overhead for the year is expected to be $1,632,000.
Required: 1-a. The company currently applies manufacturing overhead to products using direct labor-hours as the allocation base. If this method is followed, how much overhead cost per unit would be applied to each product?
Product H Product L
Overhead cost per unit
1-b. Compute the total amount of overhead cost that would be applied to each product
Product H Product L Total
Total overhead cost
Answer:
1a. Product H Overhead cost per unit = [$85 * 0.4] = $34.00
Product L Overhead cost per unit = [$85 * 0.4] = $34.00
Predetermined overhead application rate = Estimated total manufacturing overheads / Total direct Labor hours
Predetermined overhead application rate = $1632000 / {[40000 units * 0.4]+[8000 units * 0.4]}
Predetermined overhead application rate = $1632000 / 19200 direct labor hours
Predetermined overhead application rate = $85 per direct labor hour
1b. Product H Product L
Overhead cost $816,000 $816,000
/No.of units 40000 8000
Overhead cost per unit $20.40 $102.00
Product H Product L Total
Total Overhead cost $1,360,000 $272,000 $1,632,000
Note:
Total Overhead cost = No.of units * Overhead cost per unit
Schister Systems uses the following data in its Cost-Volume-Profit analyses: Total Sales $ 335,000 Variable expenses 184,250 Contribution margin 150,750 Fixed expenses 107,000 Net operating income $ 43,750 What is total contribution margin if sales volume increases by 20%
Answer:
New contribution margin = $180,900
Explanation:
Given:
Total Sales = $335,000
Variable expenses = $184,250
Contribution margin = $150,750
Fixed expenses = $107,000
Net operating income = $43,750
Find:
New contribution margin if sales volume increases by 20%
Computation:
New sales = 335,000 x (1+20%)
New sales = $402,000
New variable expenses = $184,250 x (1+20%)
New variable expenses = $221,100
New contribution margin = New sales - New variable expenses
New contribution margin = $402,000 - $221,100
New contribution margin = $180,900
Jacob works as a salesperson at a cosmetics showroom. The other day, Jacob worked with a customer who was checking out a product. Jacob,
sensing the customer's interest in the product, mentioned a gift that comes with the product. This information motivated the customer to make
the purchase. Which closing technlque did Jacob use in this scenario?
OA. opinions count close
OB. assumptlve close
OC. something for nothing close
OD. Impending event close
OE. Sollciting
tions close
Answer:
C. something for nothing close
Explanation:
The something for nothing closing strategy means adding something additional for free. In this case, Jacob was able to close the sale because he offered a free gift to the customer. Of course nothing is free, the cost of the gift is included in the price of the cosmetic, but the customer will evaluate the situation with the free gift or without the free gift.
Answer:
c) something for nothing close
Explanation:
__________ states that if there is no specific employment contract saying otherwise, the employer or employee may end an employment relationship at any time, regardless of cause. Multiple Choice Rule of law Employment at will Rule of fair treatment Employment flexibility Due-process policy
Answer:
Employment at will
__________ states that if there is no specific employment contract saying otherwise, the employer or employee may end an employment relationship at any time, regardless of cause.
Explanation:
Employment at will can cause the termination of an employee at any time without any reason, explanation, or warning, except for illegal reasons. Thus, employers can change the terms of employment, including the wages, benefit plans, or paid time off, without giving any notice or incurring any consequences or legal liability. Equally, employees are free to change jobs without notice if they so choose.
Diane is a self-employed graphic designer with a qualified in-home office. Which of the following is not a business expense for Diane?
A. 80% of expenses attributable to business lunches.
B. Tax preparation fees relating to the consulting business.
C. Direct and indirect expenses of using the home for business purposes.
D. Legal expenses attributable to her business.
Answer: A. 80% of expenses attributable to business lunches.
Explanation:
Based on the options given, the business expense for Diane would be tax preparation fees relating to the consulting business, the direct and indirect expenses of using the home for business purposes and the legal expenses attributable to her business.
It should be noted that 80% of expenses attributable to business lunches is the correct option. This is a sort of trick question. Why should only 80% of the lunch expense be attributable and not the whole 100%.
The correct option is A.
You own Bond B and are concerned about interest rates increasing soon. You have chosen Bond H to hedge your B risk. The greater H's dv01:__________.a) the more of it you need to buyb) the more of it you need to sell shortc) the less of it you need to buyd) the less of it you need to sell short
Answer:
The greater H's dv01:__________
c) the less of it you need to buy.
Explanation:
The dollar (or money) duration or DV01 is the dollar value per 01 (100 basis points) of a bond. It measures a bond’s interest rate risk in nominal or dollar-amount terms. Dollar (money) duration assumes that bonds have fixed rates with fixed interval payments. It is a linear approximation of how a bond's value will change in response to changes in interest rates.
Jerry is the owner of product X and the demand for product X has risen. To meet the high demand, Jerry lowered the price of product X which caused customers to buy more of it. From this scenario, which of the following occurred?
a. Demand elasticity
b. An inelastic
c. A unit elastic
d. An adequate substitute
Answer:
Explanation:
Demand elasticity is defined as the degree to which quantity of a good changes with changes in price.
The law of demand states that with all things being equal an increase in price of a good results in an decrease in quantity demanded and vice versa.
This means relationship between quantity demanded and price is inverse.
In the given instance Jerry want to increase the demand for product X. To do this he reduces the price of the product.
People tend to buy more at cheaper price and demand drops as price increases (becomes more expensive)
An auto repair shop orders cleaning rags in batches of 160 boxes. This inventory is depleted at a constant rate and new rags are ordered to arrive exactly when the on-hand inventory of rags reaches zero boxes. What is the average inventory level over time?
Answer:
80
Explanation:
Given that number of orders = 160 boxes , On hand inventory = 0
The formula for Average inventory level is given below:
Average inventory level = (Number of orders + On hand inventory) / 2
Average inventory level = 160 + 0 / 2
Average inventory level = 160 / 2
Average inventory level = 80
Therefore, the average inventory level over time is 80
Which of the following is an argument put forward by German philosopher Immanuel Kant?
a. One can have unmediated knowledge of how the world is, Independently of his or her ways of experiencing
b. People can only have knowledge of the world as they experience it
c. Knowledge comes only from reason
d. One acquires knowledge primarily from one's own sensory experience.
Answer:
Option b:. People can only have knowledge of the world as they experience it
Explanation:
Immanuel Kant is known as an 18th-century German philosopher.He trust in transcendental idealism. It all about morality which ensures or requires belief in God, freedom, and immortality, although these may not be to be proved, etc. He believed the take home for right action and behavior was good morals and ethics.
A firm has 120,000 shares of stock outstanding, a sustainable rate of growth of 3.8%, and $648,200 in next year's free cash flow. What value would you place on a share of this firm's stock if you require a 14% rate of return
Answer: $52.96
Explanation:
Based on the information given in the question, the value that should be placed on a share of this firm's stock if a 14% rate of return is required would be:
= [648200/(14%-3.8%)]/120000
= (648200/10.2%)/ 120000
= $52.96
Match each retail term with the correct definition
Answer:
what retall terms
Explanation: