Even though they are not a party to the contract, a third-party beneficiary may still have legal standing before the court after the contract has been consummated, hence option D) is correct.
A third-party beneficiary is a person or entity who benefits from a contract between two other parties, known as the contracting parties. This beneficiary is not a party to the contract and, therefore, does not have privity of contract with the contracting parties. This means that they do not have any contractual rights or obligations under the agreement. However, even though they are not a party to the contract, a third-party beneficiary may still have legal standing before the court after the contract has been consummated. This means that they may be able to bring a lawsuit against the contracting parties if they believe that the terms of the contract have been breached and they have suffered harm as a result. In order to establish legal standing, the third-party beneficiary must show that they were intended to benefit from the contract by the contracting parties. This intention must be clearly stated in the contract, or it must be apparent from the circumstances surrounding the agreement. In conclusion, a third-party beneficiary is someone who benefits from a contract between two other parties, but does not have privity of contract with them. While they may not have any contractual rights or obligations, they may still be able to establish legal standing before the court if they can show that they were intended to benefit from the agreement. Therefore option D) is correct
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how do you distinguish between the concepts of demand and supply functions in microeconomics and the concepts of ad and as functions in macroeconomics? why are they different?
In microeconomics, demand and supply functions refer to the relationship between the price of a good or service and the quantity that consumers are willing and able to buy, and the quantity that producers are willing and able to sell, respectively.
These functions are used to determine the equilibrium price and quantity of a good or service in a market. In macroeconomics, the concepts of aggregate demand (AD) and aggregate supply (AS) functions refer to the relationship between the overall level of prices and the level of output in the economy.
AD represents the total amount of spending in the economy, while AS represents the total amount of goods and services produced. These functions are used to determine the equilibrium level of output and price level in the overall economy.
The main difference between these concepts is the level of analysis. Demand and supply functions are used to analyze the behavior of individual consumers and producers in a specific market, while AD and AS functions are used to analyze the behavior of the entire economy as a whole.
Additionally, AD and AS functions take into account factors such as inflation, unemployment, and government policies, which are not typically included in demand and supply functions. Another key difference is the nature of the relationship between price and quantity.
In demand and supply functions, there is an inverse relationship between price and quantity, meaning that as price increases, quantity demanded decreases and quantity supplied increases. In AD and AS functions, there is a positive relationship between price and output, meaning that as prices increase, the level of output also increases.
In summary, while demand and supply functions in microeconomics and AD and AS functions in macroeconomics are related concepts, they differ in their level of analysis and the nature of the relationship between price and quantity or output.
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what is the difference in allocation between two activity cost pools and three activity cost pools? is the difference in allocation worth using the third activity cost pool
The main difference between two activity cost pools and three activity cost pools is the level of detail in the allocation of overhead costs.
In a two activity cost pool system, overhead costs are allocated to two categories of activities: typically, a "machine-related" activity pool and a "labor-related" activity pool. The costs are allocated to products based on the relative usage of these two activities.
In contrast, a three activity cost pool system uses an additional activity category, typically "setup-related" activities, to allocate overhead costs. This allows for a more detailed and accurate allocation of overhead costs to products based on the specific activities that drive the costs.
The decision to use a three activity cost pool system would depend on whether the additional level of detail in the allocation of overhead costs is worth the additional complexity and cost of implementing the system.
For some businesses with relatively simple operations, a two activity cost pool system may provide sufficient accuracy in the allocation of overhead costs.
However, for businesses with more complex operations or significant variation in the activities that drive overhead costs, a three activity cost pool system may provide a more accurate allocation of overhead costs, allowing for better decision-making about product pricing, production processes, and resource allocation.
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At December 31, 2021, Cullumber Imports reported this information on its balance sheet.
Accounts receivable$640,000Less: Allowance for doubtful accounts41,000
During 2022, the company had the following transactions related to receivables.
1.Sales on account$3,060,0002.Sales returns and allowances50,0003.Collections of accounts receivable2,760,0004.Write-offs of accounts receivable deemed uncollectible42,0005.Recovery of bad debts previously written off as uncollectible20,000
Prepare the journal entries to record each of these five transactions. Assume that no cash discounts were taken on the collections of accounts receivable. (Omit cost of goods sold entries.) (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Enter the January 1, 2022, balances in Accounts Receivable and Allowance for Doubtful Accounts, post the entries to the two accounts and determine the balances. (Post entries in the order of journal entries posted in the previous part)
Prepare the journal entry to record bad debt expense for 2022, assuming that aging the accounts receivable indicates that estimated bad debts are $47,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Compute the accounts receivable turnover. (Round answer to 1 decimal place, e.g. 12.4.)
Compute the average collection period. (Round answer to 1 decimal place, e.g. 12.4. Use 365 days for calculation.)
The accounts receivable turnover and average collection period by using the data of general entries is equal to 3.99 and 91.5 (rounded to 1 decimal place).
To record each of the five transactions related to receivables, the following journal entries can be made,
Sales on account,
Accounts Receivable 3,060,000
Sales 3,060,000
Sales returns and allowances,
Sales Returns and Allowances 50,000
Accounts Receivable 50,000
Collections of accounts receivable,
Cash 2,760,000
Accounts Receivable 2,760,000
Write-offs of accounts receivable deemed uncollectible,
Allowance for Doubtful Accounts 42,000
Accounts Receivable 42,000
Recovery of bad debts previously written off as uncollectible,
Accounts Receivable 20,000
Allowance for Doubtful Accounts 20,000
Next, let's calculate the balances in the Accounts Receivable
And Allowance for Doubtful Accounts accounts as of January 1, 2022, after posting the above entries,
Accounts Receivable balance,
Beginning balance= $640,000
Sales on account = +$3,060,000
Sales returns and allowances = -$50,000
Collections of accounts receivable = -$2,760,000
Write-offs of accounts receivable = -$42,000
Recovery of bad debts = +$20,000
Ending balance in Accounts Receivable
= $640,000 + $3,060,000 - $50,000 - $2,760,000 - $42,000 + $20,000 = $868,000
Allowance for Doubtful Accounts balance,
Beginning balance= $41,000
Write-offs of accounts receivable = +$42,000
Recovery of bad debts = -$20,000
Ending balance in Allowance for Doubtful Accounts
= $41,000 + $42,000 - $20,000
= $63,000
To record the bad debt expense for 2022, assuming estimated bad debts are $47,000,
Bad Debt Expense 47,000
Allowance for Doubtful Accounts 47,000
To compute the accounts receivable turnover, we need the average accounts receivable for the period.
Assuming the only balances in Accounts Receivable are beginning and ending balances, average accounts receivable is,
= (Beginning balance + Ending balance) / 2
= ($640,000 + $868,000) / 2
= $754,000
Accounts Receivable turnover
= Net Credit Sales / Average Accounts Receivable,
Net Credit Sales
= Sales on account - Sales returns and allowances
= $3,060,000 - $50,000
= $3,010,000
Accounts Receivable turnover
= $3,010,000 / $754,000
≈ 3.99 (rounded to 1 decimal place)
To compute the average collection period,
Average Collection Period
= 365 days / Accounts Receivable turnover
= 365 days / 3.99
≈ 91.5 (rounded to 1 decimal place)
Therefore, the accounts receivable turnover and average collection period is equal to 3.99 and 91.5 (rounded to 1 decimal place).
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a worker who is dissuaded from filing a charge of discrimination by an employer’s threat to fire her fiancée has no basis for a claim of retaliation.
An employer's threat to fire an employee's fiancée as a means to dissuade the employee from filing a charge of discrimination could be considered an act of retaliation.
The statement is incorrect. If an employer threatens to fire an employee's fiancée as a means to dissuade the employee from filing a charge of discrimination, this could be considered an act of retaliation under certain circumstances.
Retaliation is prohibited under federal and state laws that prohibit discrimination in the workplace. It occurs when an employer takes adverse action against an employee in response to the employee engaging in protected activity, such as filing a discrimination complaint.
In this scenario, the employer's threat to fire the employee's fiancée is an attempt to dissuade the employee from engaging in protected activity, which is filing a charge of discrimination. This act could be considered an act of retaliation, and the employee may have grounds for a retaliation claim.
It is important to note that retaliation claims are fact-specific and require an analysis of the circumstances surrounding the alleged retaliation. In this scenario, the employee must demonstrate that the employer's actions were motivated by retaliation and that they suffered an adverse employment action as a result of engaging in protected activity.
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The spot rate for the euro is US$1.3125/euro and the 30-day forward rate is US$1.3606/euro. In this case the euro is trading at a(n) __________.a) improbable mannerb) discountc) premiumd) gray rate
In this case the euro is trading at a premium rate. Spot rates are the current exchange rates used in foreign exchange markets to buy or sell particular currencies.
The "right now" rate for any particular currency, to put it simply. Your chosen currencies will be exchanged at the current spot rate if you decide to perform a transaction right away.
Spot rates are the current exchange rates used in foreign exchange markets to buy or sell particular currencies. The "right now" rate for any particular currency, to put it simply. Your chosen currencies will be exchanged at the current spot rate if you decide to perform a transaction right away.
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how would continued expansion of minuteclinics affect revenues of primary care practices?
Continued expansion of minute clinics could potentially negatively affect the revenues of primary care practices. Minute clinics offer convenient and affordable healthcare services, such as routine check-ups and basic medical treatments.
Minute clinics can be seen as a substitute for primary care practices. Minute clinics often have lower prices and wait times than primary care practices, which can draw patients away from primary care practices.
This could result in a decrease in revenue for primary care practices, especially if minute clinics continue to expand and offer a wider range of services. However, it is important to note that primary care practices offer more comprehensive healthcare services than minute clinics and are better equipped to manage complex medical conditions.
Patients with more serious or chronic conditions are more likely to seek care from primary care practices, which could help mitigate the potential revenue loss.
Additionally, there may be opportunities for primary care practices to partner with minute clinics to provide more coordinated and integrated care for patients.
Overall, the continued expansion of minute clinics could have an impact on the revenues of primary care practices, but it is not necessarily a straightforward or definitive outcome.
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Write up a two-column cash book for a second hand bookshop from the following during the month of November 2020. 1* Balance brought forward from last month: cash (2950; bank €4,240 2nd Cash sales ¢3,100 3rd Took $2,000 out of the cash till and paid it into the bank 4th F. Bell paid us by cheque ¢194 5th Paid for postage stamps in cash 480 6th Bought office equipment by cheque ¢310 7th Paid L. Root by cheque ¢940 11th Withdrew ¢1,500 from the bank for business use 12th Paid wages in cash $400 13th Cash sales ¢430 14th Paid motor expenses by cheque ¢810 16th J. Bull lent us ¢1,500 in cash 20th K. Brown paid us by cheque ¢174 28th Paid general expenses in cash ¢350 30th Paid insurance by cheque ¢320
In the two-column Cash Book, the first column is for the date of the transaction, the second column is for the particulars of the transaction, the third column is for cash transactions, and the fourth column is for bank transactions. Positive numbers indicate inflow while negative numbers indicate outflow.
Cash Book for Second Hand Bookshop for November 2020
| Date | Particulars | Cash | Bank |
|------|------------|------|------|
| 1st | Balance brought forward | 2950 | 4240 |
| 2nd | Cash sales | 3100 | - |
| 3rd | Cash deposited into bank | - | 2000 |
| 4th | F. Bell paid by cheque | - | 194 |
| 5th | Paid for postage stamps | 480 | - |
| 6th | Bought office equipment by cheque | - | 310 |
| 7th | Paid L. Root by cheque | - | 940 |
| 11th | Withdrew from bank | 1500 | - |
| 12th | Paid wages in cash | 400 | - |
| 13th | Cash sales | 430 | - |
| 14th | Paid motor expenses by cheque | - | 810 |
| 16th | Cash lent by J. Bull | 1500 | - |
| 20th | K. Brown paid by cheque | - | 174 |
| 28th | Paid general expenses in cash | 350 | - |
| 30th | Paid insurance by cheque | - | 320 |
| Total | | 10760 | 7888 |
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Gordon & Co.’s stock has just paid its annual dividend $2 per share. Analysts believe that Gordon will maintain its historic dividend growth rate of 3%. If the required return is 8%, what is the expected price of the stock next year?
The expected price of Gordon & Co.'s stock next year is $41.20.
We can use the Gordon growth model to calculate the expected price of the stock next year:
P = D / (r - g)
where P is the expected price, D is the expected dividend, r is the required return, and g is the expected dividend growth rate.
In this case, the expected dividend next year can be calculated by multiplying the current dividend by 1 plus the expected dividend growth rate:
Expected dividend = $2 × (1 + 0.03) = $2.06
Plugging in the numbers, we get:
P = $2.06 / (0.08 - 0.03) = $41.20
Therefore, the expected price of Gordon & Co.'s stock next year is $41.20.
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What does it mean for the U.S. economy to have a positively skewed wage distribution?a.The distribution of wages is symmetric around the mean.b.The wage distribution has a long right tail.c.The wage distribution has a long left tail.d.A large proportion of workers earn very high wages.
For the U.S. economy to have a positively skewed wage distribution, it means that the wage distribution has a long right tail.
This means that a large proportion of workers earn very high wages, while the majority of workers earn lower wages. The distribution of wages is not symmetric around the mean, and there is a long tail on the higher end of the wage distribution. This can have implications for income inequality and overall economic growth.
A positively skewed wage distribution means that the wage distribution has a long right tail. This indicates that there is a relatively small number of workers earning exceptionally high wages, which pulls the average wage up, while the majority of workers earn lower wages. In this case, the distribution of wages is not symmetric around the mean, and a large proportion of workers do not earn very high wages.
Therefore, the correct answer is option b. The wage distribution has a long right tail.
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The following information pertains to Petit Four Inc. Net income $548,000 5% Convertible bonds issued at par $225,000 Weighted-average shares outstanding 188,000 Tax rate 25% Each $1,000 bond is convertible into 20 shares of common stock at the option of the bondholder. The bonds were outstanding all year. The company computes diluted EPS using the if-converted method.
Calculate basic and diluted EPS for the year assuming that the convertible bonds were issued on November 1.
A) $2.19 $2.19
B) $2.91 $2.91
C) $2.91 $2.89
D) $2.91 $2.80
The basic and diluted EPS for the given information on shares and convertible bonds is given by
Option D. $2.91 (Basic EPS) and $2.91 (Diluted EPS).
To calculate the basic and diluted earnings per share (EPS),
Use the given information.
Calculate the Basic EPS,
Basic EPS = Net Income / Weighted-average shares outstanding
⇒Basic EPS = $548,000 / 188,000
⇒Basic EPS = $2.9149 (rounded to two decimal places)
Calculate the Diluted EPS using the if-converted method,
First, calculate the potential additional shares from the convertible bonds,
Number of convertible bonds
= Convertible bonds issued at par / Conversion ratio
Number of convertible bonds = $225,000 / 20
Number of convertible bonds = 11,250
Potential additional shares
= Number of convertible bonds × Conversion ratio
⇒ Potential additional shares = 11,250 × 20
⇒ Potential additional shares = 225,000
Convertible Bond Interest
= Convertible Bond Principal × Convertible Bond Interest Rate
= $225,000 × 5%
= $11,250
Next, calculate the Incremental Shares from Conversion,
Incremental Shares from Conversion
= Convertible Bond Principal / Conversion Ratio
= $225,000 / 20
= 11,250
Now calculate the diluted EPS,
Diluted EPS
= (Net Income - Preferred Dividends + Convertible Bond Interest × (1 - Tax Rate)) / (Weighted-average Common Shares Outstanding + Incremental Shares from Conversion)
= ($548,000 - 0 + $11,250 × (1 - 0.25)) / (188,000 + 11,250)
= $548,000 + $8,438 / 199,250
= $556,438 / 199,250
= $2.7924 (rounded to the nearest cent)
≈ $2.80
Therefore, basic and diluted EPS for the year assuming that the convertible bonds were issued on November 1 is equal to,
Option D. $2.91 (Basic EPS) and $2.91 (Diluted EPS).
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This governmental program pays more financial benefits to children than any other federal government program. 1) Personal Responsibility and Work Opportunity Reconciliation Act 2) None of the answers are correct 3) Welfare 4) Social Security 5) Supplemental Nutrition Assistance Program (SNAP)
The program that pays more financial benefits to children than any other federal government program is the Supplemental Nutrition Assistance Program (SNAP), also known as food stamps.
This program provides low-income families with financial assistance to purchase food, including fruits, vegetables, dairy, meat, and more. SNAP is intended to supplement the food budget of eligible households, allowing them to put healthy meals on the table for their families. Unlike some other government programs, SNAP does not have a work requirement for adults, although many recipients do work. However, there are eligibility requirements based on income and household size, and benefits vary depending on these factors.
While other government programs such as welfare and Social Security also provide financial assistance to families with children, SNAP is specifically focused on ensuring access to nutritious food for low-income households.
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csh has ebitda of million. you feel that an appropriate ev/ebitda ratio for csh is . csh has million in debt, million in cash, and shares outstanding. what is your estimate of csh's stock price?
To calculate an estimate of the stock price, we would need additional information such as the EV/EBITDA ratio, the number of shares outstanding, and potentially other financial details.
How to calculate the estimate of csh's stock priceThe EV/EBITDA ratio is used to value a company by comparing its enterprise value (EV) to its EBITDA. The ratio varies depending on factors such as industry, company size, growth prospects, and market conditions. Without a specific ratio provided, it is not possible to estimate the stock price accurately.
To estimate the stock price of CSH (assuming EBITDA is provided in the question), we need the appropriate EV/EBITDA ratio and the relevant financial figures. However, the question does not provide the EV/EBITDA ratio or the number of shares outstanding. Without this information, it is not possible to calculate an estimate of CSH's stock price.
To calculate an estimate of the stock price, we would need additional information such as the EV/EBITDA ratio, the number of shares outstanding, and potentially other financial details.
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The U.S. government provides a research and development tax credit. How can this policy encourage economic growth? Firms get tax credits for sourcing inputs locally, and this encourages local economic growth. It encourages firms to engage in innovation and creative practices, which lead to technological advances that spur economic growth o It supports firms in their efforts to produce environmentally friendly products and services, Firms are encouraged to reuse existing capital, and this leads to a more efficient use of existing capital.
The research and development tax credit provided by the U.S. government can encourage economic growth is by incentivizing firms to engage in innovative and creative practices that lead to technological advances.
These advances can drive economic growth by creating new industries, products, and services that generate job opportunities and increase productivity.
The tax credit encourages firms to invest in research and development activities that can lead to technological advancements. This not only benefits the firms themselves but also the broader economy, as the resulting innovations can create new products and services, reduce costs, and improve overall efficiency. By providing tax credits for sourcing inputs locally, the policy also supports local economic growth, as firms are incentivized to purchase inputs from local suppliers.
Moreover, the tax credit encourages firms to produce environmentally friendly products and services, which can lead to a more sustainable and resilient economy. This can help to reduce negative externalities such as pollution and climate change, while also promoting the development of green industries that can create new job opportunities.
Finally, the tax credit encourages firms to reuse existing capital, which leads to more efficient use of resources and promotes productivity growth. By incentivizing firms to invest in research and development activities that can improve existing products and processes, the policy can help to increase the competitiveness of firms in both domestic and international markets, which can drive economic growth.
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The 2013 financial statements of Walgreen Co. reported the following information (in millions):Walgreen Co.20132012Cost of sales$51,098$51,291Inventories, net6,8527,036LIFO reserve2,1001,897Convert the above FIFO method to LIFO method and calculate the cost of goods sold for 2013 under LIFO.
Therefore, the cost of goods sold under LIFO for 2013 would be $51,015 million ($51,098 million - $203 million).
To convert from FIFO to LIFO method, we need to subtract the change in LIFO reserve from the change in inventory.
In this case, the change in inventory is a decrease of $184 million ($7,036 million - $6,852 million), and the change in LIFO reserve is an increase of $203 million ($2,100 million - $1,897 million).
The LIFO method assumes that the last items purchased are the first to be sold, which can lead to a higher cost of goods sold and lower taxable income.
Companies often choose LIFO when prices are rising, as it reduces taxable income and therefore taxes owed.
However, LIFO may not accurately reflect the true cost of goods sold and can lead to inventory shortages and higher costs in times of inflation.
It is important for companies to carefully consider which inventory method to use and to disclose it in their financial statements.
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Gain on disposal of plant assets is included in the other revenues and gains section of the income statemer All of the following items would be reported as other revenues and gains for a merchandiser except O gain on disposal of plant assets. interest revenue rent revenue. sales revenue.
All of the following items would be reported as other revenues and gains for a merchandiser except sales revenue.
In the income statement, the section for other revenues and gains includes financial transactions that are not directly related to the primary business operations.
These transactions are usually non-recurring, incidental, or peripheral to the core business activities. Gain on disposal of plant assets is an example of an item included in this section. This occurs when a company sells or disposes of a plant asset (like machinery or equipment) for an amount higher than its carrying value. The gain represents the difference between the selling price and the asset's carrying value.
Interest revenue is another example of an item reported under other revenues and gains. It refers to the income earned from investments, loans, or other interest-bearing accounts.
Rent revenue also falls under this section. It refers to the income generated from leasing out a property owned by the company.
However, sales revenue is not reported as an other revenue or gain for a merchandiser. Sales revenue, also known as net sales, is the primary source of income for a merchandising company. It represents the total revenue generated from the sale of goods, after deducting sales returns, allowances, and discounts. Sales revenue is typically reported at the top of the income statement in the revenues section, as it reflects the core business operations.
In summary, gain on disposal of plant assets, interest revenue, and rent revenue are included in the other revenues and gains section of the income statement, while sales revenue is reported separately as the main source of income for a merchandiser. The correct option is sale revenue.
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calculate the monthly payment on a $55,000, 7 year loan assuming an apr of 5 percent compounded monthly. (needs: nper, rate, pv)
The monthly payment for a $55,000 loan with a 7-year term and a monthly compounded APR of 5% is $765.71.
We must apply the present value of an annuity formula to get the monthly loan payment:
PMT is calculated as PV * (r * (1 + r)n) / ((1 + r)n - 1).
Where PMT stands for the monthly payment, PV for the loan's principle or present value, r for the interest rate, and n for the number of payments each month.
In this instance, the loan's current value or principle is $55,000, its annual percentage rate is 5% compounded on a monthly basis, and its duration is 7 years, or 84 months.
We divide the APR by 12 to get the monthly interest rate:
r = 0.05 / 12 = 0.004167
We multiply the number of years by 12 to get the total number of monthly payments:
n = 7 * 12 = 84
We can now solve for PMT by entering these values into the formula:
PMT = 55,000 * (0.004167 * (1 + 0.004167)^84) / ((1 + 0.004167)^84 - 1) = $765.71
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To calculate the monthly payment on a $55,000, 7-year loan assuming an APR of 5% compounded monthly, we can use the PMT function in Excel or a financial calculator.
The nper (number of periods) is 7 years * 12 months per year = 84 months. The rate is 5% / 12 = 0.004167 per month. The pv (present value) is $55,000. Using these values, we can calculate the monthly payment as: =PMT(0.004167, 84, -55000) . This gives us a monthly payment of approximately $785.15. Therefore, the borrower would need to make monthly payments of $785.15 for 84 months to fully pay off the loan.
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Hours Revenue
1 10
2 20
3 30
4 40
5 50
Sergio tutors fellow students for $10 an hour.
Refer to Table 1.1. What is Sergio's marginal benefit if he tutors for three hours instead of two hours?
$30
$20
$40
$50
$10
To determine Sergio's marginal benefit of tutoring for three hours instead of two hours, we need to calculate the additional revenue that he will earn by tutoring for an additional hour. From the table, we can see that if Sergio tutors for two hours, he will earn a revenue of $20 ($10/hour x 2 hours).
If he tutors for three hours, he will earn a revenue of $30 ($10/hour x 3 hours).Therefore, the marginal benefit of tutoring for three hours instead of two hours is $10 ($30 - $20), which is the additional revenue that Sergio will earn for tutoring one extra hour. $10. Based on the information provided in Table 1.1 and your question, the marginal benefit of Sergio tutoring for three hours instead of two hours can be calculated as follows:
Identify the revenue at 2 hours and 3 hours.- At 2 hours, the revenue is $20.- At 3 hours, the revenue i$30.: Calculate the marginal benefit.- Marginal benefit = Revenue at 3 hours - Revenue at 2 hours
- Marginal benefit = $30 - $20
Therefore, Sergio's marginal benefit if he tutors for three hours instead of two hours is $10. Your answer is: $10.
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3 You purchased 10 shares of JP Morgan (JPM) at $100 per share five years ago. JPM paid a $1.25 quarterly dividend. Today, JPM is worth $150 per share. What was your average annual return (%) (to two decimal places, xx.xx%)?
The average annual return on the JP Morgan investment, in two decimal places, is 11.78%.
To calculate the average annual return of your JP Morgan (JPM) investment. To do this, we'll consider the initial investment, dividends received, and the current value of the shares.
1. Initial Investment: You purchased 10 shares at $100 per share, so the initial investment was $1,000.
2. Dividends: JPM paid a $1.25 quarterly dividend for five years (20 quarters). For 10 shares, you received $12.50 per quarter or $250 in total dividends.
3. Current Value: Today, JPM is worth $150 per share. So, the current value of your 10 shares is $1,500.
Now, we'll calculate the total return and the average annual return.
Total Return = (Final Value - Initial Investment + Dividends) / Initial Investment
Total Return = ($1,500 - $1,000 + $250) / $1,000
Total Return = 0.75 or 75%
To find the average annual return, we'll use the formula:
[tex](1 + Total Return)^{(1 / Number of Years)}[/tex] - 1
[tex](1 + 0.75)^{(1 / 5)}[/tex] - 1
[tex]1.75^{0.2}[/tex] - 1
1.1178 - 1
0.1178 or 11.78%
So, your average annual return on the JP Morgan investment, to two decimal places, is 11.78%. This return includes both the capital appreciation of the shares and the dividends received during the five-year period.
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.Find total profits of the monopolist under the following market conditions: Demand: P=250-4Q Fixed Costs = 200 MC = 50
Select one:
a. 2600
b. 2450
c. 2300
d. 2750
The total profits of the monopolist under the following market conditions is (c) 2300.
To find the total profits of the monopolist, we need to calculate the total revenue and total costs first. From the given demand equation P=250-4Q, we can derive the total revenue as TR= P*Q = (250Q - 4Q^2).
To find the optimal quantity that the monopolist should produce, we set the marginal revenue (MR) equal to the marginal cost (MC). MR can be calculated by taking the derivative of the total revenue with respect to Q, which is MR = 250-8Q. So, setting MR = MC, we get 250-8Q=50, which gives Q=25.
Plugging Q=25 into the demand equation, we can calculate the price that the monopolist can charge, which is P=250-4*25=150. Therefore, the total revenue is TR= 150*25= 3750.
The total cost includes both the fixed cost and the variable cost, which is TVC= MC*Q = 50*25= 1250. So, the total cost is TC= 1250 + 200 = 1450.
Finally, the total profit is calculated as total revenue minus total cost, which is Profit= TR-TC= 3750 - 1450= 2300.
Therefore, the answer is (c) 2300.
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Bond A is a par bond and Bond B is a premium bond. All else equal, which bond has the higher coupon rate?
A
B
A=B
Bond A is a par bond and Bond B is a discount bond. All else equal, which bond has the lower coupon rate?
A
B
A=B
Bond A is a corporate bond and Bond B is a municipal bond. Which bond should have the higher yield to maturity?
A
B
A=B
a)Bond B should have the higher coupon rate.
b) Bond A should have the lower coupon rate.
c) Bond B should have the higher yield to maturity.
For the first question, a par bond is a bond where the issue price is equal to its face value or par value, while a premium bond is a bond where the issue price is higher than its face value. Assuming that Bond A and Bond B have the same maturity and credit rating, Bond B should have the higher coupon rate. This is because the higher issue price of Bond B means that investors are willing to accept a lower yield or return on their investment, and the coupon rate reflects the yield required by investors.
For the second question, a discount bond is a bond where the issue price is lower than its face value. Assuming that Bond A and Bond B have the same maturity and credit rating, Bond A should have the lower coupon rate. This is because the lower issue price of Bond A means that investors require a higher yield or return on their investment, and the coupon rate reflects the yield required by investors.
For the third question, municipal bonds are issued by state and local governments and are generally exempt from federal income tax and sometimes state and local income tax. Corporate bonds are issued by corporations and are subject to federal income tax. Assuming that Bond A and Bond B have the same maturity and credit rating, Bond B should have the higher yield to maturity. This is because the tax-exempt status of municipal bonds means that investors are willing to accept a lower yield on their investment compared to taxable corporate bonds. Therefore, the yield on municipal bonds needs to be higher to compensate for the tax advantage they provide.
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true/false. the rise of electronic payment systems has encouraged more peer-to-peer lending programs. these programs connect lenders and borrowers outside the traditional banking system.
This statement "The rise of electronic payment systems has indeed encouraged more peer-to-peer lending programs" is true. These programs have gained popularity in recent years and are transforming the lending industry by connecting lenders and borrowers outside the traditional banking system.
The use of electronic payment systems has made the process of lending and borrowing easier, faster, and more convenient. It has also increased access to credit for borrowers who may not qualify for loans from traditional financial institutions. Peer-to-peer lending platforms typically charge lower interest rates and offer more flexible terms than traditional banks. As a result, they have become a popular alternative for individuals seeking to borrow money for personal or business purposes. Electronic payment systems have made it possible for these lending programs to operate more efficiently and securely, providing a win-win situation for both lenders and borrowers.
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Snap Enterprises, a retail entity, provides the following data about its January purchases and sales of inventory: Jan 1 Jan 8 Jan 16 Jan 28 Qty Beg. Balance 1,000 Purchase 1,000 Purchase 1,000 Purchase 1,000 Price Extended $8 $8,000 $10 $10,000 $15 $15,000 $18 $18,000 Jan 12 Jan 22 Sale Sale Qty 1,400 800 Price Extended $28 $39,200 $28 $22,400 What gross profit will Snap report assuming the company maintains its inventory using a perpetual system and uses the weighted average method? [When necessary, round your weighted average cost per unit to 2 decimal places and final answers to the nearest $1.] $36,400 $33,550 $40,600 $38,800 $39,100
Snap Enterprises will report a gross profit of $38,800 assuming it maintains its inventory using a perpetual system and uses the weighted average method. Option d is correct.
Using the perpetual inventory system and weighted average method, we can calculate the weighted average cost per unit at each point in time and use this information to determine the cost of goods sold and gross profit for the period.
First, we calculate the weighted average cost per unit at each point in time:
Jan 1: $8 per unit (Beg. Balance)
Jan 8: (($8 * 1,000) + ($10 * 1,000)) / 2,000 = $9 per unit
Jan 16: (($8 * 1,000) + ($10 * 1,000) + ($15 * 1,000)) / 3,000 = $11 per unit
Jan 28: (($8 * 1,000) + ($10 * 1,000) + ($15 * 1,000) + ($18 * 1,000)) / 4,000 = $12.75 per unit
Next, we can use the weighted average cost per unit to calculate the cost of goods sold for the two sales:
Jan 12: 1,400 units sold * $9 per unit = $12,600
Jan 22: 800 units sold * $12.75 per unit = $10,200
Therefore, the total cost of goods sold for January is $22,800 ($12,600 + $10,200).
The total sales revenue for January is $61,600 ($39,200 + $22,400). The gross profit for the period is the difference between the total sales revenue and the cost of goods sold, which is $38,800 ($61,600 - $22,800).
Option d is correct.
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assuming the market for apples is perfectly competitive, what market price would result in a normal profit?
In a perfectly competitive market, the price of a product is determined by the intersection of supply and demand. In the case of apples, if the market is perfectly competitive, the price of apples would be such that it would result in normal profit for the producers.
Normal profit, also known as economic profit, is the minimum level of profit required by a firm to continue operating in the long run. It is the amount of profit that is just enough to cover all of the costs of production, including the opportunity cost of the resources used, such as labor and capital.
In a perfectly competitive market, firms are price takers, meaning they have no market power to influence the price of the product. Therefore, if the price of apples were to exceed the cost of production, new firms would enter the market to take advantage of the profit opportunity, leading to an increase in supply and a decrease in the price of apples. Conversely, if the price of apples were to fall below the cost of production, firms would exit the market, leading to a decrease in supply and an increase in the price of apples.
Therefore, in a perfectly competitive market, the market price that would result in a normal profit would be the price at which the average total cost of production is equal to the market price. At this price, firms would be able to cover all their costs, including the opportunity cost of their resources, and earn a normal profit.
In conclusion, in a perfectly competitive market, the market price of apples would be such that it would result in normal profit, which is the minimum level of profit required to keep the firm operating in the long run.
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Which account was displayed in the Deposit to field for the payment deposited in Step 1 of Practice Exercise 1. 1
Select one:
The checking account is displayed in the Deposit to field for the payment deposited in Step 1 of Practice Exercise
What is the checking account?In accounting, the Deposit to field refers to the specific account where a payment or deposit is recorded. In Step 1 of Practice Exercise 1.1, when making a deposit, the most common account displayed in the Deposit to field would be the checking account.
The checking account is a common type of bank account that businesses use for day-to-day transactions, such as receiving payments and making withdrawals. It serves as a central account where funds are deposited and from which payments are made.
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Which account was displayed in the Deposit to field for the payment deposited in Step 1 of Practice Exercise 1.1? Select one:
a. Cash
b. Accounts Receivable
c. Checking
One of your customers is delinquent on his accounts payable balance. You’ve mutually agreed to a repayment schedule of $540 per month. You will charge .94 percent per month interest on the overdue balance. If the current balance is $14,760, how long will it take for the account to be paid off?
To determine how long it will take to pay off the account, we need to calculate the number of months required based on the repayment schedule and interest rate.
Let's break down the calculation step by step:
Calculate the monthly interest rate:
Monthly interest rate = Annual interest rate / 12
Monthly interest rate = 0.94% / 100 / 12
Monthly interest rate = 0.00783
Determine the monthly payment:
Monthly payment = $540
Calculate the remaining balance after each payment:
Remaining balance = Current balance - Monthly payment
Calculate the number of months required to pay off the balance:
Number of months = Remaining balance / (Monthly payment + Monthly interest)
Let's perform the calculations:
Current balance = $14,760
Monthly payment = $540
Monthly interest rate = 0.00783
Remaining balance = $14,760 - $540 = $14,220
Number of months = $14,220 / ($540 + $14,220 * 0.00783)
Number of months = $14,220 / ($540 + $111.39)
Number of months = $14,220 / $651.39
Number of months ≈ 21.83
Therefore, it will take approximately 21.83 months (or about 22 months) to pay off the account.
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what responsibility does nike have for conditions of work at foreign factories making its products?
Nike has a responsibility to ensure that the conditions of work at foreign factories making its products meet certain ethical and safety standards. This includes ensuring that workers are paid fairly and work reasonable hours, that they are not subject to discrimination or harassment, and that their working conditions are safe and healthy.
Nike should also be transparent about its supply chain and work with its suppliers to improve conditions where necessary.
By actively monitoring and collaborating with suppliers, Nike can fulfill its corporate social responsibility and maintain its reputation as a global brand.
Ultimately, Nike is responsible for the ethical and humane treatment of workers throughout its supply chain and should take steps to ensure that its products are not made through the exploitation of workers.
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d. what percent of the total variation in profit does the model overall determine/explain?
The higher the R-squared value, the better the model's ability to explain the variation in profit. An R-squared value of 1 would indicate that the model perfectly explains all the variation in profit.
To determine what percentage of the total variation in profit is explained by the model, we need to look at the coefficient of determination, also known as R-squared. R-squared is a statistical measure that represents the proportion of the variance in the dependent variable (in this case, profit) that can be explained by the independent variables (the variables used in the model).
If the R-squared value is close to 1, it means that the independent variables in the model explain a large percentage of the variance in the dependent variable. Conversely, if the R-squared value is close to 0, it means that the independent variables in the model explain very little of the variance in the dependent variable.
To answer the question, we need to look at the R-squared value for the specific model in question. If the R-squared value is, for example, 0.75, it means that the model explains 75% of the total variation in profit. In other words, 75% of the changes in profit can be explained by the independent variables used in the model.
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Consider the following balance sheet for MMC bancorp (in millions of dollars):
Assets: 1. Cash and due from $6.25
2. Short-term consumer loans (1-year maturity) 62.50
3. Long-term currency loans (2-year maturity) 31.25
4. 3-month T-Bills 37.50
5. 6-month T-Bills 43.75
6. 3-year T-Bonds 75.00
7. 10 year, fixed rate mortgages 25
8. 30-year, floating rate mortgages 50
9. Premises 6.25
Total $337.50
Liabilities
1. Equity capital (fixed) $25
2. Demand Deposits 50
3. Passbook savings 37.50
4. 3-month CDs 50.00
5. 3-month Bankers' Acceptances 25.00
6. 6-month commerical paper 75.00
7. 1-year time deposits 25.00
8. 2-year time deposits 50.00
Total: $337.50
a) Calculate the value of MMC's rate-sensitive assets, rate-sensitive liabilties, and repricing gap over the next year
b) Calculate the expected change in the net interest income for the bank if interest rates rise by 1 percent on both RSAs and RSLs. If interest rates fall by 1 percent on both RSAs and RSLs. c) Calculate the expected change in the net interest income for the bank if interest rates rise by 1.2 percent on RSAs and by 1 percent on RSLs. If interest rates fall by 1.2 percent on RSAs and by 1 percent on RSLs.
a) The repricing gap is the difference between the value of RSAs and RSLs, which is $43.75 million. b) The expected change in NII would be a decrease of $0.43 million. c) The expected change in NII would be a decrease of $0.79 million.
a) The rate-sensitive assets (RSA) are the short-term consumer loans, the T-Bills, and the 6-month commercial paper, which have a total value of $181.25 million. The rate-sensitive liabilities (RSL) are the demand deposits, the passbook savings, and the 3-month CDs, which have a total value of $137.50 million. The repricing gap is the difference between the value of RSAs and RSLs, which is $43.75 million.
b) If interest rates rise by 1 percent on both RSAs and RSLs, the expected change in net interest income (NII) can be calculated as follows
For the RSAs, the interest income will increase by 1% of $181.25 million, or $1.81 million.
For the RSLs, the interest expense will increase by 1% of $137.50 million, or $1.38 million.
Therefore, the expected increase in NII is $1.81 million - $1.38 million = $0.43 million.
If interest rates fall by 1 percent on both RSAs and RSLs, the expected change in NII would be a decrease of $0.43 million.
c) If interest rates rise by 1.2 percent on RSAs and by 1 percent on RSLs, the expected change in NII can be calculated as follows
For the RSAs, the interest income will increase by 1.2% of $181.25 million, or $2.17 million.
For the RSLs, the interest expense will increase by 1% of $137.50 million, or $1.38 million.
Therefore, the expected increase in NII is $2.17 million - $1.38 million = $0.79 million.
If interest rates fall by 1.2 percent on RSAs and by 1 percent on RSLs, the expected change in NII would be a decrease of $0.79 million.
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according to the equation of exchange, if real gdp (q) is $8,000 billion, the price level (p) is 1.20, and the money supply (m) is $2,400 billion, the velocity of money (v) is:
The velocity of money (V) is 4.The equation of exchange is a key concept in macroeconomics that relates.
The equation of exchange can be expressed as follows: MV = PQ, where M is the money supply, V is the velocity of money, P is the price level, and Q is real GDP.
This equation shows the relationship between the nominal value of transactions in an economy and the quantity of money used to facilitate those transactions.
Given that real GDP (Q) is $8,000 billion, the price level (P) is 1.20, and the money supply (M) is $2,400 billion, we can use the equation of exchange to calculate the velocity of money (V). We can rearrange the equation to solve for V as follows: V = PQ/M.
Substituting the given values, we get: V = ($8,000 billion x 1.20)/$2,400 billion = 4. Therefore, the velocity of money in this economy is 4, which means that on average, each dollar of money supply is used to purchase $4 worth of goods and services in a year.
The velocity of money is an important indicator of the health of an economy, as it reflects the rate at which money is being circulated and used to facilitate transactions.
A higher velocity of money indicates a more active and productive economy, while a lower velocity of money can suggest slower growth or economic stagnation.
Understanding the factors that affect the velocity of money can help policymakers make informed decisions about monetary policy and economic development.
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Negotiated transfer pricing is not always used because of each of the following reasons except:
a. market price information is sometimes not easily obtainable
b. a lack of trust between the negotiating divisions may lead to a breakdown in the negotiations
c. negotiations often lead to different pricing strategies from division to division
d. opportunity cost is sometimes not determinable
Negotiated transfer pricing is not always used because of each of the following reasons except d. opportunity cost is sometimes not determinable.
Negotiated transfer pricing is a process by which divisions within the same company agree on the price at which goods or services are transferred between them. However, this method is not always used for several reasons. Firstly, market price information is sometimes not easily obtainable, which makes it difficult for divisions to agree on a fair price. Secondly, a lack of trust between the negotiating divisions may lead to a breakdown in the negotiations, making it difficult to agree on a transfer price.
Finally, opportunity cost is sometimes not determinable, which makes it hard to determine the value of goods or services being transferred. However, one reason why negotiated transfer pricing is not always used is that negotiations often lead to different pricing strategies from division to division, which can lead to confusion and inefficiencies. Overall, while negotiated transfer pricing can be a useful tool, it may not always be feasible or practical to use in certain situations. The correct option is d. opportunity cost is sometimes not determinable.
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