Answer:
a. Date Account Titles and Explanation Debit Credit
Account receivables $2,000
Revenue $2,000
(To record the service provided for payment
not yet received)
b. Date Account Titles and Explanation Debit Credit
Wage expenses $1,000
Wage payable $1,000
(To record the wage accrued but not yet paid)
c. Date Account Titles and Explanation Debit Credit
Interest expenses $400
Interest payable $400
(To record the interest earned but not received)
d. Date Account Titles and Explanation Debit Credit
Lawn serviced expenses $500
Lawn services payable $500
(To record the lawn service incurred but not yet paid)
e. Date Account Titles and Explanation Debit Credit
Interest receivable $200
Interest revenue $200
(To record the interest revenue earned but not received)
f. Date Account Titles and Explanation Debit Credit
Salary Expenses $900
Salary Payable $900
(To record the salary expenses accrued but not yet paid)
Ben and Molly are married and will file jointly. Ben generates $300,000 of qualified business income from his single member LLC (a law firm). He reports his business as a sole proprietorship. Wages paid by the law firm amount to $40,000; the law firm has no significant property. Molly is employed as a tax manager by a local CPA firm. Their modified taxable income is $386,600 (this is also their taxable income before the deduction for qualified business income).
Required:
a. What is their tentative QBI based on the W–2 Wages/Capital Investment Limit?
b. Determine their allowable QBI deduction?
Answer:
a) $5,680
b) $8,906
Explanation:
QBI deduction can be as much as 20% of QBI but it cannot exceed 20% of taxable income before QBI deduction and/or capital gains.
QBI deduction also starts to phase out if the couple's income is higher than $315,000.
phase out = 1 - [($386,600 - $315,000) / $100,000] = 0.284 = 28.4%
we must choose the higher between:
tentative QBI deduction based on W-2 wages = 50% x $40,000 x 28.4% = $5,680
or
QBI deduction based on capital investment limit = (25% x $40,000 x 28.4%) + $0 (no qualified property) = $2,840
allowable QBI deduction:
($300,000 x 20% x 28.4%) - {[($300,000 x 20% x 28.4%) - $5,680] x (1 - 28.4%)} = $17,040 - [($17,040 - $5,680) x 0.716] = $17,040 - $8,134 = $8,906
Klumper Corporation is a diversified manufacturer of industrial goods. The company’s activity-based costing system contains the following six activity cost pools and activity rates: Activity Cost Pool Activity Rates Supporting direct labor $ 7 per direct labor-hour Machine processing $ 3 per machine-hour Machine setups $ 40 per setup Production orders $ 160 per order Shipments $ 110 per shipment Product sustaining $ 775 per product Activity data have been supplied for the following two products: Total Expected Activity K425 M67 Number of units produced per year 200 2,000 Direct labor-hours 1,125 50 Machine-hours 3,200 40 Machine setups 19 1 Production orders 19 1 Shipments 38 1 Product sustaining 1 1
Required:Determine the total overhead cost that would be assigned to each of the products listed above in the activity-based costing system.Activity Cost Pool K425 M67Supporting Direct Labor Machine Processing Machine Setups Production Orders Shipments Product Sustaining Total Overhead Cost
Answer:
Activity Cost Pool Activity Rates
Supporting direct labor $7 per direct labor-hour
Machine processing $3 per machine-hour
Machine setups $40 per setup
Production orders $160 per order
Shipments $110 per shipment
Product sustaining $775 per product
Expected Activity K425 total overhead costs
Direct labor-hours 1,125 = 1,125 x $7 = $7,875
Machine-hours 3,200 = 3,200 x $3 = $9,600
Machine setups 19 = 19 x $40 = $760
Production orders 19 = 19 x $160 = $3,040
Shipments 38 = 38 x $110 = $4,180
Product sustaining 1 = 1 x $775 = $775
total overhead costs $26,230
Expected Activity M67 total overhead costs
Direct labor-hours 50 = 50 x $7 = $350
Machine-hours 40 = 40 x $3 = $120
Machine setups 1 = 1 x $40 = $40
Production orders 1 = 1 x $160 = $160
Shipments 1 = 1 x $110 = $110
Product sustaining 1 = 1 x $775 = $775
total overhead costs $1,555
Jorgensen High Tech Inc. is a calendar-year, accrual-method taxpayer. At the end of year 1, Jorgensen accrued and deducted the following bonuses for certain employees for financial accounting purposes:
$40,000 for Ken.
30,000 for Jayne.
20,000 for Jill.
10,000 for Justin.
How much of the accrued bonuses can Jorgensen deduct in year 1 under the following alternative scenario:
Jorgensen paid the bonuses to employees on March 1 of year 2, and there is a requirement that the employee remain employed with Jorgensen on the payment date to receive the bonus.
Answer:
$100,000
Explanation:
Based on the information given Jorgensen may lessen the amount of $100,000 in the second year which is year 2 reason been that the amount are NOT FIXED amount at the end of the year 1 because the employees are qualified to receive the bonus amount only in a situation where the employees are been employed on the date the bonuses amount were been paid.
Employees Deductible Year 1 Deductible Year 2
Ken $0 $40,000
Jayne $0 $30,000
Jill $0 $20,000
Justin $0 $10,000
Total $100,000
Fill in the blanks to complete the Marginal Product column for each worker and the Marginal Cost column at each level of labor. (Hint: Marginal cost is
the change in total cost divided by the change in the quantity of output. You can calculate it here by dividing the increase in total cost from hiring one
more worker by the marginal product from hiring one more worker.)
Labor Input
(Number of Workers)
0
123
4
S
Total Output
Marginal Product
(Burritos per day) (Burritos per day)
0
40
100
140
160
175
AAAAA
Total Cost
(Dollars per day)
$80
$200
$320
$440
$560
$680
Marginal Cost
(Dollars per burrito)
When hiring its third worker, Caroline's Burrito Stand faces increasing marginal returns to labor.
Over the range of workers for which the marginal product is increasing, Caroline's Burrito Stand faces
$
$
4
marginal cost.
When hiring its third worker, Caroline's Burrito Stand faces increasing marginal returns to labor.
How to explain the informationMarginal Product = Total Output (current level) - Total Output (previous level)
Marginal Product (Worker 1) = 40 - 0 = 40
Marginal Product (Worker 2) = 100 - 40 = 60
Marginal Product (Worker 3) = 140 - 100 = 40
Marginal Product (Worker 4) = 160 - 140 = 20
Marginal Product (Worker 5) = 175 - 160 = 15
Now, let's calculate the Marginal Cost. The Marginal Cost is the change in total cost divided by the change in the quantity of output.
Marginal Cost = Change in Total Cost / Change in Quantity of Output
Marginal Cost (Worker 1) = ($200 - $80) / 40 = $120 / 40 = $3
Marginal Cost (Worker 2) = ($320 - $200) / 60 = $120 / 60 = $2
Marginal Cost (Worker 3) = ($440 - $320) / 40 = $120 / 40 = $3
Marginal Cost (Worker 4) = ($560 - $440) / 20 = $120 / 20 = $6
Marginal Cost (Worker 5) = ($680 - $560) / 15 = $120 / 15 = $8
When hiring its third worker, Caroline's Burrito Stand faces increasing marginal returns to labor. Over the range of workers for which the marginal product is increasing, Caroline's Burrito Stand faces increasing marginal cost.
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A review of the ledger of Blossom Company at December 31, 2022, produces these data pertaining to the preparation of annual adjusting entries.
1. Prepaid Insurance $23,149. The company has separate insurance policies on its buildings and its motor vehicles. Policy B4564 on the building was purchased on July 1, 2021, for $15,510. The policy has a term of 3 years. Policy A2958 on the vehicles was purchased on January 1, 2022, for $10,224. This policy has a term of 18 months.
2. Unearned Rent Revenue $469,440. The company began subleasing office space in its new building on November 1. At December 31, the company had the following rental contracts that are paid in full for the entire term of the lease.
Date Term (in months) Monthly Rent Number of Leases
Nov. 1 9 $5,000 5
Dec. 1 6 $8,500 4
3. Notes Payable, $120,000. This balance consists of a note for 9 months at an annual interest rate of 9%, dated November 1.
4. Salaries and Wages Payable, $0. There are eight salaried employees. Salaries are paid every Friday for the current week. Five employees receive a salary of $700 each per week, and three employees earn $500 each per week. Assume December 31 is a Tuesday. Employees do not work weekends. All employees worked the last two days of December.
Prepare the adjusting entries at December 31, 2022.
Answer:
insurance expense 11,986 debit
prepaid insurance 11,986 credit
unearned revenue 84,000 debit
rent revenue 84,000 credit
interest expense 1,800 debit
interest payable 1,800 credit
salaries expense 2,000 debit
salaries payable 2,000 credit
Explanation:
expired insurance
Policy B4564 adjustment:
15,510 / 36 months x 12 months = 5,170
Plicy A2958 adjusment:
10,224 / 18 months x 12 months = 6,816
Total insurance expense: 11,986
earned revenue:
monthly rent x accrued month x number of lease
$5,000 x 2 months x 5 lease = 50,000
$8,500 x 1 months x 4 lease = 34,000
total 84,000
interest calculations:
principal x rate x time
120,000 x 9% x 2/12 = 1,800
salaries accrued:
5 employees x 700 each x 2/5 days = 1,400
3 employees x 500 each x 2/5 days = 600
Total accrued wages: 2,000
the pros and cons of using a credit card, checking account, and debit card.
Credit card and debit card
PROS
You have digital moneyYou have digital moneyYou can buy things onlineCONS
You have to go to the bank to take money outSomeone can hack your card and take your moneyThe United States is _____.
The United States is a federal republic and a democratic country situated in North America, bordered by Canada to the north, Mexico to the south, and the Pacific and Atlantic Oceans on the west and east respectively.
With a total area of 3.8 million square miles, the country is the third largest country in the world by area. It also has a diverse population, consisting of people of different ethnic, racial, and religious backgrounds. The United States has a long history of promoting democracy, human rights, and freedom around the world. Its constitution guarantees basic freedoms like the freedom of speech, religion, and the press, and the right to bear arms.
The country has a capitalist economy that is the largest in the world, and is driven by its vast natural resources, technological innovations, and a well-educated workforce. The United States is a member of several international organizations like the United Nations, the World Trade Organization, and NATO. It also has an important role in maintaining global peace and security, as well as tackling global challenges like climate change and terrorism.
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You have two job offers, starting November 1st, 2020. At Company A you will have an initial annual salary of $75,000 and a raise of 7% on November 1st of each year thereafter. Here, the 7% raise is computed based on the salary on the date the raise is given. So, on November 1st, 2021 your salary would be $80,250, and then on November 1st, 2022 it would be $85,867.50, and so on. At Corporation B you will have an initial salary of $90,000 and a raise of 2% on November 1st of each year thereafter.
Required:
On November 1st of what year would the salary at Company A be greater than the salary at Corporation B?
Answer:
On November 1, 2024, the salary offered by Company A would be higher than the salary offered by Company B ($98,309.70 > $97,418.89).
Explanation:
Company A Company B
Date Salary Salary
Nov. 1, 2020 $75,000 $90,000
Nov. 1, 2021 $80,250 $91,800
Nov. 1, 2022 $85,867.50 $93,636
Nov. 1, 2023 $91,878.23 $95,508.72
Nov. 1, 2024 $98,309.70 $97,418.89
We can use the future value formula to determine the salaries for any given year:
FV = PV x (1 + r)ⁿ
PV = $75,000
r = 7%
or
PV = $90,000
r = 2%
Sunrise Coffee Company roasts and packs coffee beans. The process begins in the Roasting Department. From the Roasting Department, the coffee beans are transferred to the Packing Department. The following is a partial work in process account of the Roasting Department at December 31:
ACCOUNT Work in Process-Roasting Department ACCOUNT NO.
Date Item Debit Credit Balance
Debit Credit
Dec. 1 Bal., 15,500 units, 40% completed 64,170
31 Direct materials, 268,200 units 630,270 694,440
31 Direct labor 363,624 1,058,064
31 Factory overhead 523,264 1,581,328
31 Goods transferred, 270,500 units ? ?
31 Bal., ? units, 90% completed ?
Required:
Prepare a cost of production report, using the average cost method, and identify the missing amounts for Work in Process—Roasting Department.
Answer:
Sunrise Coffee Company
Roasting Department
Production Cost Report
Units
Opening WIP 15,500
Direct materials 268,200
less units transferred (270,500)
Ending WIP 13,200
Degree of completion = 90% * 13,200 = 11,880
Unit Unit Cost Total Production Cost
Transferred out 270,500 $5.60 $1,514,800
Ending WIP 11,880 $5.60 66,528
Total equivalent 282,380 $1,581,328
Explanation:
a) Data:
Date Item Debit Credit Balance
Dec. 1 Bal., 15,500 units, 40% completed 64,170
31 Direct materials, 268,200 units 630,270 694,440
31 Direct labor 363,624 1,058,064
31 Factory overhead 523,264 1,581,328
31 Goods transferred, 270,500 units ? ?
31 Bal., 13,200 units, 90% completed ?
Equivalent units:
Transferred out 270,500
Ending WIP 11,880
Total equivalent 282,380
Cost per equivalent unit = $1,581,328
Average cost = $1,581,328/282,380 = $5.60
See if you can match the design approaches Kate uses to the messages she applied them to.
Click to select each message design approach, then click the blank space for the message it
matches to move it.
"I know you're on deadline, but I also know that the project is very important for all of us. May
I ask you a question about it..."
"We've just experienced three problems with the ABC product. The problems are... I see three
simple solutions, and they are... I'll go ahead and implement these solutions on Thursday
unless I hear otherwise from you before then..."
"Given your announcement that customer service is our #1 priority for the month, I would like
your approval to hire a temp to help Bill this month so he can focus on service enhancements."
"Have you seen this quarter's revenue figures? They're 30 percent higher than last quarter.
Would you like to increase the budget for the XYZ product?"
Select one
Select one
Select one
Select one
The design approaches to the messages as observed are Emotional appeal, Problem-solution approach, Persuasive approach based on shared values, and Data-driven approach.
What are the appropriate matching of the approaches?Matching each message with its corresponding design approach are as follows:
1. "I know you're on deadline, but I also know that the project is very important for all of us. May I ask you a question about it..."
Design approach: Emotional appeal
2. "We've just experienced three problems with the ABC product. The problems are... I see three simple solutions, and they are... I'll go ahead and implement these solutions on Thursday unless I hear otherwise from you before then..."
Design approach: Problem-solution approach
3. "Given your announcement that customer service is our #1 priority for the month, I would like your approval to hire a temp to help Bill this month so he can focus on service enhancements."
Design approach: Persuasive approach based on shared values
4. "Have you seen this quarter's revenue figures? They're 30 percent higher than last quarter. Would you like to increase the budget for the XYZ product?"
Design approach: Data-driven approach
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Kendra makes custom baby quilts embroidered with the baby’s name and date of birth. Although quilts can be partially completed in advance, all quilts remain in the Work in Process Inventory account until the final embroidery is completed. Quilt BBGR12 was completed in July. At the beginning of July, costs accumulated on the quilt were direct materials of $50, direct labor of $75, and overhead of $20. Completing the quilt required 2.5 hours of direct labor at $12 per hour. Overhead is applied at $3 per direct labor hour. What is the total cost on the job cost sheet for Job BBGR12 at the end of July? (Show your work.)
Answer:
$182.50
Explanation:
Calculation of the total cost on the job cost sheet for Job BBGR12
Manufacturing Costs Schedule
Beginning Work In Process Inventory :
Direct Materials $50.00
Direct labor of $75.00
Overhead of $20.00
Incurred during the year :
Direct labor (2.5 hours × $12) $30.00
Overheads (2.5 hours × $3) $7.50
Total cost on the job cost sheet $182.50
Use below information to prepare general journal entries for Belle Co.’s 1 through 7 transactions.
a. D. Belle created a new business and invested $5,900 cash, $6,900 of equipment, and $12,900 in web servers in exchange for common stock.
b. The company paid $6,000 cash in advance for prepaid insurance coverage.
c. The company purchased $800 of supplies on account.
d. The company paid $600 cash for selling expenses.
e. The company received $6,000 cash for services provided.
f. The company paid $800 cash toward accounts payable.
g. The company paid $4,000 cash for equipment.
Answer and Explanation:
The Journal entries are shown below:-
a. Cash Dr, $5,900
Equipment Dr, $6,900
Web servers Dr, 12,900
To D.Belle, Capital $25,700
(Being owner investment is recorded)
b. Prepaid Insurance Dr, $6,000
To Cash 6,000
(Being payment made in advance for prepaid Insurance is recorded)
c. Supplies Dr, $800
To Accounts payable 800
(Being purchase of supplies is recorded)
d. Selling expenses Dr, $600
To Cash $600
(Being made for selling expenses is recorded)
e. Cash Dr, 6,000
To Service revenue $6,000
(Being cash received from service provided is recorded)
f. Accounts payable Dr, $800
To Cash $800
(Being accounts payable is recorded)
g. Equipment Dr, $4,000
To Cash $4,000
(Being purchase of equipment is recorded)
Briana Foods Inc., a manufacturer and distributor of grocery products, uses online recruiting for sales personnel.On its Website, Briana says, "A sales representative is required to distribute, sell, and promote Briana products.He or she should be the primary link with retail customers and consumers, execute company promotions, meet inventory needs, and monitor the competition within their region.A representativespends most of the worktime communicating with the customer to create a win-win solution." Which of the following goals of recruiting is Briana trying to meet in the given scenario?
A) Ensuring that applicants are qualified
B) Exaggerating the job description to attract the best talent
C) Providing an honest assessment of the job
D) Generating fine distinctions between applicants
E) Keeping the applicant pool at a reasonable size
Answer:
C) Providing an honest assessment of the job
Explanation:
In the given scenario the online recruitment process begins with a detailed job description of the sales representative position.
A job description is a statement of the requirements of a job role and also indicates key success steps on the job
Briana states that - A sales representative is required to distribute, sell, and promote Briana products.He or she should be the primary link with retail customers and consumers, execute company promotions, meet inventory needs, and monitor the competition within their region.A representativespends most of the worktime communicating with the customer to create a win-win solution.
This provides the applicants with a honest assessment of the job so they will know what to expect should they be successful
Naranjo Company designs industrial prototypes for outside companies. Budgeted overhead for the year was $385,000, and budgeted direct labor hours were 22,000. The average wage rate for direct labor is expected to be $35 per hour. During June, Naranjo Company worked on four jobs. Data relating to these four jobs follow:
Job 39 Job 40 Job 41 Job 42
Beginning balance $26,200 $36,000 $15,900 $1,200
Materials requistioned 16,600 21,400 8,700 14,400
Direct labor cost 7,700 18,500 3,350 5,300
Overhead is assigned as a percentage of direct labor cost. During June, Jobs 39 and 40 were completed; Job 39 was sold at 120 percent of cost. (Naranjo had originally developed Job 40 to order for a customer; however, that customer was near bankruptcy and the chance of Naranjo being paid was growing dimmer. Naranjo decided to hold Job 40 in inventory while the customer worked out its financial difficulties. Job 40 is the only job in Finished Goods Inventory.) Jobs 41 and 42 remain unfinished at the end of the month.
1. Calculate the overhead rate based on direct labor cost.
_ % of direct labor cost.
2. Set up a simple job-order cost sheet for all jobs in process during June.
3. What if the expected direct labor rate at the beginning of the year was $28 instead of $35? What would the overhead rate be? If required, round your answer to one decimal place.
_ % of direct labor cost
Answer:
Please find attached solution
Explanation:
1. Overhead rate
Total direct labor cost = Direct labor hours × Rate per hour
= 22,000 × $35
= $770,000
Overhead rate
= Estimated overhead / estimated direct labor cost
= 385,000 / 770,000
= 0.5 or 50% of direct labor cost.
Please find attached solution to question 2 and 3.
Sid's LLC has purchased fish from Fred's Fisheries. Sid wrote a check for $22,000 to Fred's. A thief broke into Fred's office and stole the cash on hand as well as the unindorsed check from Sid's. The thief took the check to the Corner Check Cashing Company (CCCC) and received $22,000 less the cashing fee of $2000. Fred, notified Sid, who then notified First Commerce Bank, the drawee of the check, of the theft. CCCC presented the check for payment, and First Commerce refuses to pay. CCCC says it is a holder in due course. Using the IRAC format determine whether CCCC is entitled to the money.
Answer:
Issue
Is CCCC eligible to get the payment for an unendorsed instrument?
Rule
As per the Negotiable instrument, any kind of instrument will be paid only if it is completed endorsed so for the endorsement of the check, it was important that the name of the person has to be written on the instrument.
Analysis
The check was un-endorsed, and it was wrongfully cashed by the thief. Sid was notified by Fred, before he notifies the First Commerce Bank, the drawee of the check. Unendorsed checks should not be cashed in by the company.
Conclusion
As the negotiable instrument has to be endorsed to make it payable to the person, the Corner Check Cashing Company (CCCC) did not verify the endorsement of the right person, thus Corner Check Cashing Company (CCCC) is not entittled to get the money for a as it was not endorsed by the drawee.
The Boston Hotel
High-end linens
600-thread-count sheets
Coffeemaker and selected teas
Imported beer
Fresh-squeezed juices
Affordability
Food and drink
Double-thick bath towels
Silk pillowcases
Raw silk curtains with gold embellishments
$100/night four-star rooms
Free snacks, shampoo, and conditioner
Free wireless Internet
What are three subcategories in the previous scratch list?
what is fringe benefit?
Answer:
it is employee benefits
Answer:
Employee benefits
Consider the types of expenses you would track and how you
prioritize them.
Answer:
Some of the types of expenses that you should track, and how to prioritize them are:
1. Fixed expenses
Fixed expenses are those that stay the same each month, regardless of your income or spending. Rent, car payments, and insurance are all examples of fixed expenses. These expenses are important to track because they can make up a large portion of your monthly spending. By tracking your fixed expenses, you can see where your money is going and make sure that you are not overspending in any one area.
2. Variable expenses
Variable expenses are those that change each month, depending on your spending habits. Groceries, dining out, and entertainment are all examples of variable expenses. These expenses are also important to track, but they are not as critical as fixed expenses. By tracking your variable expenses, you can see where you can cut back if you need to save money.
3. Discretionary expenses
Discretionary expenses are those that you can choose to spend money on or not. Clothes, vacations, and gifts are all examples of discretionary expenses. These expenses are the least important to track, but they can still add up over time. By tracking your discretionary expenses, you can make sure that you are not spending more than you can afford.
Here is a list of the types of expenses you should track, in order of priority:
Fixed expensesVariable expensesDiscretionary expensesBy tracking your expenses, you can get a better understanding of your spending habits and make sure that you are not overspending in any one area. This can help you to save money and reach your financial goals.
You are the HR manager for a fifty-person firm that specializes in the development and marketing of plastics technologies. When you were hired, you felt the company had little idea what you should be paid and just made up a number, which you were able to negotiate to a slightly higher salary. While you have been on the job for three months, you have noticed a few concerning things in the area of multiculturalism, besides the way your salary was offered. The following are some of those items:
1. You know that some of the sales team, including the sales manager, get together once a month to have drinks at a strip club.
2. A Hispanic worker left the organization, and in his exit interview, he complained of not seeing a path toward promotion.
3. The only room available for breast-feeding mothers is the women’s restroom.
4. The organization has a policy of offering $200 to any employee who refers a friend, as long as the friend is hired and stays at least six months.
5. The manufacturing floor has an English-only policy.
6. You have heard managers refer to those wearing turbans in a derogatory way.
What do you think needs to be done to create a more inclusive environment, without losing the culture of the company?
What suggestions would you make to those involved in each of the situations?
LEONE COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Finished goods inventory, beginning Cost of goods manufactured Goods available for sale Less: Finished goods inventory, ending Cost of goods sold Gross profit General and administrative expenses Selling expenses Net income $ 84,000 84,000 92.000 $ 3,251,000 $ (8,000) 3,259,000 127.000 603,000 2,529,000
How do you find the cost of goods manufactured?
The cost of goods manufactured (COGM) is the cost of all the products that a company has manufactured during a period.
How to calculateIt is calculated by adding the beginning finished goods inventory to the total manufacturing costs, and then subtracting the ending finished goods inventory.
In the income statement you provided, the cost of goods manufactured is calculated as follows:
COGM = $92,000 + $3,251,000 - $127,000 = $3,224,000
Therefore, the cost of goods manufactured for Leone Company is $3,224,000.
Here is the formula for calculating COGM:
COGM = Beginning finished goods inventory + Total manufacturing costs - Ending finished goods inventory
The total manufacturing costs include direct materials, direct labor, and manufacturing overhead.
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need help with a business question
Answer:
D
Explanation:
I'm not positive, however it does add up to a realistic value.
Answer:
I think C
Explanation:
Consumer protections related to the Internet and telecommunications and direct-mail fraud are covered under the Financial Practices division of The Bureau of Consumer Protection.
True
False
A central bank buys treasury securities at market rates in order to:
O A. decrease the amount of money banks hold in reserve.
B. increase the discount rate for private banks.
C. increase the money supply in the economy.
O D. decrease the unemployment rate by hiring workers.
Answer:
C increase the money supply in the economy
Explanation:
apex
A central bank buys treasury securities at market rates in order to increase the money supply in the economy.
What is Treasury securities?Nothing says "safety of principal" like Treasury securities when it comes to conservative investments.
These securities have served as a safe haven in the instability of the investment markets for decades, serving as the last line of defense against any potential loss of principle.
Thus, option C, increase the money supply in the economy is correct.
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Last month, a processing facility (such as a check processing facility or a distribution center) transitioned from an unpaced assembly line to a machine-paced assembly line, so that now work is done to the product while it stays on the conveyor belt. Yesterday, the worker at the bottleneck station was replaced by another worker who works more slowly than the original worker (and nothing was done to compensate). Which of the following is most likely to result?
a. Inventory piles up before the new bottleneck worker.
b. Quality problems occur.
c. Cycle time increases.
d. The direction of the workflow changes
How does the cost of learning change as the division of labor increases (having more workers, doing more narrowly defined tasks)?
a. It tends to decrease at first but eventually starts growing again.
b. It tends to increase at first but eventually starts decreasing.
c. It tends to decrease with the growing degree of division of labor.
d. It is unchanged by the division of labor.
Answer: b. Quality problem occurs
• c. It tends to decrease with the growing degree of division of labor
Explanation:
From the scenario on the question, the most likely thing to result is for quality problems to occur. Quality simply has to do with the extent to which a particular product satisfies already specified requirements.
Based on the scenarios such as the worker at the bottleneck station being replaced by another worker who works more slowly than the original worker, the quality will be affected.
Division of labor is when task are being delegated in a workplace so that efficiency can be improved. When there is a rise in the division of labor, learning is affected as there'll be a decrease as division of labor increases. This is because everyone has his or her role to play rather than learning more about other departments or roles, the worker will be typically focused on one role.
You are the CEO of Fisher Corporation. You are very concerned with presenting the best financial picture possible to the owners of your company. Unfortunately, Fisher has a lawsuit pending at the end of the year, which could result in the company having to pay a large sum of money. On the bright side, Fisher also has business deal that might go through, which could result in the company making a large gain. The principle of conservatism would say that which of the following is true?
a. Fisher should not report the potential loss related to the lawsuit.
b. Fisher should report the possible gain from the business deal.
c. Fisher should report the potential liability it has related to the lawsuit.
d. Fisher should report the potential cash inflow it could receive from the business deal.
Answer:
c. Fisher should report the potential liability it has related to the lawsuit.
Explanation:
Remember, the principle of conservatism is one that encourages businesses to prioritize their future losses in their financial reports over any future gains.
Therefore, based on the principle of conservatism, instead of reporting the business deal could result in the company making a large gain, Fisher should report the potential liability (losses) it has related to the lawsuit.
Marriott International, Inc., is a leading global lodging company, with more than 6,000 properties in 122 countries. Information adapted from the company’s recent annual statement of cash flows indicates the following investing and financing activities during that year (simplified, in millions of dollars):
a. Additional borrowing from banks $ 1,482
b. Purchase of investments 1
c. Sale of assets and investments (assume sold at cost) 218
d. Issuance of stock 34
e. Purchases of property, plant, and equipment 199
f. Payment of debt principal 326
g. Dividends paid 374
h. Receipt of principal payment on a note receivable 67
Required:
For each of these, select whether the activity is investing or financing and the direction of the effects on cash flows (+ for increases cash; - for decreases cash).
Activity Type of activity Effect on cash
Additional borrowing from banks
purchase of investments
Sale of assets and investments (assume sold at cost)
Issuance of stock
Purchases of property plant, and equipment
payment of debt principal
Dividends paid
Receipt of principal payment on a note receivable
Answer:
Marriott International, Inc.
Selection of whether activity is investing or financing and the direction of the effects on cash flows (+ for increases cash; - for decreases cash):
Activity Type of activity Effect on cash
(millions of dollars)
a. Additional borrowing from banks financing + $1,482
b. Purchase of investments investing - $1
c. Sale of assets and investments investing + $218
(assume sold at cost)
d. Issuance of stock financing + $34
e. Purchases of property plant,
and equipment investing - $199
f. Payment of debt principal financing - $326
g. Dividends paid financing - $374
h. Receipt of principal payment financing + $67
on a note receivable
Explanation:
When Marriott International, Inc. prepares its statement of cash flows, it usually classifies the cash flow activities into three main categories. One is the operating activities section. Two is the investing activities section. And the third one is financing activities. Sometimes, the reconciliation to the cash balance is added, including some non-cash flow activities. The purpose of preparing the statement of cash flows in such sections is to group relevant activities together to enable users of the financial statements to make informed decisions. It is very important to make the separation since investing and financing activities are not the normal business of the entity, unless it is into such businesses like investment and finance houses and banks.
Metatrend’s stock will generate earnings of $4 per share this year. The discount rate for the stock is 10%, and the rate of return on reinvested earnings also is 10%. a. Find both the growth rate of dividends and the price of the stock if the company reinvests the following fraction of its earnings in the firm: (i) 0%; (ii) 30%; (iii) 50%. (Do not round intermediate calculations. Enter the growth rates as a whole percent.) b. Redo part (a) now assuming that the rate of return on reinvested earnings is 15%. What is the present value of growth opportunities (PVGO) for each reinvestment rate? (Do not round intermediate calculations. Round your answers to 2 decimal places.)
Answer:
sustainable growth rate = retention rate x ROE
ROE = 10%
a) growth rate:
if retention rate is 0%, growth rate = 0. P₀ = $4 / 10% = $40
if retention rate is 30%, growth rate = 3%. P₀ = $4.12 / 7% = $58.86
if retention rate is 50%, growth rate = 5%. P₀ = $4.20 / 5% = $84
b) growth rate if ROE increases to 15%
if retention rate is 0%, growth rate = 0. P₀ = $4 / 10% = $40
if retention rate is 30%, growth rate = 4.5%. P₀ = $4.20 / 5.5% = $76.36
if retention rate is 50%, growth rate = 7.5%. P₀ = $4.30 / 2.5% = $172
c) What is the present value of growth opportunities (PVGO) for each reinvestment rate?
PVGO = stock price - value of no growth
value of no growth = $40
when g = 0%, then PVGO = $40 - $40 = $0
when g = 3%, then PVGO = $58.86 - $40 = $18.86
when g = 5%, then PVGO = $84 - $40 = $44
when g = 4.5%, then PVGO = $76.36 - $40 = $36.36
when g = 7.5%, then PVGO = $172 - $40 = $132
Need help with some questions
Answer:
8
Explanation:
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Using the maximum ratios for a conventional mortgage, how big a monthly payment could the Danforth family afford if their gross (before-tax) monthly income amounted to $6,500? $ Would it make any difference if they were already making monthly installment loan payments totaling $800 on two car loans? Maximum mortgage payment they could make would be $
To solve for the first question you do $6500*0.3 which will give you $1950. 30% is the max in all situations.
The second half you do $6500*.38= 2470 then subtract the 800 from there which will give you $1670.
PE and Terminal Stock Price [LO2] In practice, a common way to value a share of stock when a company pays dividends is to value the dividends over the next five years or so, then find the "terminal" stock price using a benchmark PE ratio. Suppose a company just paid a dividend of $1.15. The dividends are expected to grow at 20 percent over the next five years. In five years, the estimated payout ratio is 40 percent and the benchmark PE ratio is 21. What is the target stock price in five years? What is the stock price today assuming a required return of 12 percent on this stock?
Answer:
$150.15
$92.31
Explanation:
Target stock price in year 5 = Earnings per share in year 5 x benchmark PE ratio
Earnings per share in year 5 = dividends per share in year 5/ pay-out ratio
Dividend in year 1 = $1.15 x 1.20 = $1.38
Dividend in year 2 = $ 1.15 x 1.20^2 = $1.66
Dividend in year 3 = $1.15 x 1.20^3 = $1.99
Dividend in year 4 = $1.15 x 1.20^4 = $2.38
Dividend in year 5 = $1.15 x 1.20^5 = $2.86
$2.86 / 0.4 = $7.15
$7.15 x 21 = $150.15
b. the stock price today can be found by finding the present value of the dividends
Present value can be found using a financial calculator
Earnings per share in year 5 = dividends per share in year 5/ pay-out ratio
Dividend in year 1 = $1.15 x 1.20 = $1.38
Dividend in year 2 = $ 1.15 x 1.20^2 = $1.66
Dividend in year 3 = $1.15 x 1.20^3 = $1.99
Dividend in year 4 = $1.15 x 1.20^4 = $2.38
Dividend in year 5 = $1.15 x 1.20^5 = $2.86
Stock price in year 5 = $150.15
i = 12%
Stock price (present value) = $92.31
To find the PV using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
