The white-box approach in auditing systems are :-
It is adequate when automated systems applications are relatively simple.
It is to audit around the computer.
The advantage of this approach is that the systems will not be interrupted for auditing purposes.
Auditing is defined as the on-web page verification interest, which include inspection or exam, of a procedure or nice device, to ensure compliance to requirements. An audit can follow to a whole company or might be precise to a function, system, or production step.
An audit is an "unbiased exam of financial facts of any entity, whether or not earnings oriented or not, no matter its length or legal form while such an exam is carried out on the way to specific an opinion thereon.”
The reason of an audit is to shape a view on whether the records presented within the financial record, taken as a whole, reflects the monetary function of the company at a given date.
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What can happen if you do not pay back money you have borrowed?
A. You can be offered more credit.
B. You can ignore late payment notices.
C. You can be charged penalties and fees.
D. You can get an increase in your credit.
The answer is C.
Explanation:
So when you have a credit line and you spend money using that credit, you are borrowing money from someone else. You not paying it is the same as not paying back debt. To help keep people from just stealing money there is a system in place to make someone owe more money the longer they don't pay their debt, even going so far as to jail people, sue them, or collect collateral damage to pay the debt.
beauty corp. is planning to add manufacturing capacity by installing new high-tech machines. the machines would increase revenues by $200,000 per year and increase costs by $50,000 per year. the new machines cost $560,000 and would fully depreciated at the time of purchase. investment in net working capital of $30,000 would be required at the time of installation. the firm is planning to keep the machines for 7 years and then sell them for $80,000. the firm has a required rate of return on investment projects of 13% and a marginal tax rate of 25%. what is the initial outlay in the year zero?
The initial outlay for the new high-tech machines Beauty Corp. plans to add to its manufacturing capacity is $450,000.
What is the initial outlay?The initial outlay is the initial investment required for a project.
The initial outlay can be computed by adding the cost of new machines to the operating expenses and subtracting tax reductions recorded in the year zero.
Depreciation in year 0 = $560,000
Marginal tax rate = 25%
Cost of new machines = $560,000
Net working capital = 30,000
Tax reduction in year 0 = (140,000) ($560,000 x 25%)
Initial outlay $450,000
Thus, Beauty Corp. will incur an initial outlay of $450,000 in year zero.
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Fairmont company has shipped goods to willowbook recreation fob shipping point. Fairmont will recognize sales revenue when?.
Fairmont company has shipped goods to willow book recreation fob shipping point. Fairmont will recognize sales revenue when the goods leave Fairmont's shipping dock.
The notion of revenue recognition is a crucial aspect of accrual-basis accounting. Contrary to alternative cash-basis accounting, which recognizes revenue at the moment cash is received, this accounting approach recognizes revenue once it is thought to have been earned. The revenue recognition concept does not apply in cash-basis accounting.
The revenue recognition principle essentially states that revenues are recorded by businesses when the service or good is deemed supplied to the client rather than when the money is received. It can take longer and more in-depth investigation than one would think to determine what counts as a transaction.
When the products leave the seller's location and are in route to the buyer, sales revenue is recorded. As a result, it will be apparent here when the products leave Fairmount's shipping dock.
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what is the primary purpose of a data warehouse? group of answer choices to aggregate information throughout an organization into multiple repositories in such a way that employees can make decisions and undertake business analysis activities. to disaggregate information throughout an organization into multiple repositories in such a way that employees can make decisions and undertake business analysis activities. to aggregate information throughout an organization into a single repository in such a way that employees can make decisions and undertake business analysis activities. to disaggregate information throughout an organization into a single repository in such a way that employees can make decisions and undertake business analysis activities.
The primary purpose of a data warehouse is to aggregate information throughout an organization into a single repository in such a way that employees can make decisions and undertake business analysis activities.
A data warehouse is a primary repository of facts that may be analyzed to make greater informed choices. facts flows right into a statistics warehouse from transactional systems, relational databases, and other sources, usually on a ordinary cadence.
In computing, a data warehouse, additionally called an company records warehouse, is a system used for reporting and information analysis and is taken into consideration a core issue of commercial enterprise intelligence. DWs are central repositories of incorporated facts from one or more disparate resources.
A data warehouse is a type of statistics control device this is designed to enable and guide commercial enterprise intelligence (BI) sports, specially analytics. data warehouses are solely supposed to carry out queries and analysis and often contain massive amounts of historical records.
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10) suppose an investor deposits $5,000 in an interest-bearing account at her local bank. the account pays 2.5% (annual) with interest compounded monthly. if the investor plans on withdrawing the original principal plus accumulated interest at the end of ten years, what is the total amount that she should expect to receive assuming interest rates do not change?
The total amount that she should expect to receive assuming interest rates do not change is $6,418.20.
$5,000 is the first investment (PV). The interest rate is equal to 0.025/12, or 0.002083. Periods (n) = 10 * 12 = 120 months.
The following formula must be used to determine the future value (FV):
FV= PV*(1 + i)^n = 5,000*(1.002083^120) = $6,418.20.
An interest rate is an amount of interest that is payable each period stated as a percentage of the amount that was lent, deposited, or borrowed. The principal amount, interest rate, frequency of compounding, and duration of the loan, deposit, or borrowing determine the total amount of interest on a sum that was lent or borrowed.
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actory overhead costs are budgeted and controlled by separating factory overhead into a.rate and time components. b.labor and materials components. c.price and quantity components. d.fixed and variable components.
The ongoing costs of running a business are known as overhead costs. No matter how much or how little a business sells, it must pay overhead on a regular basis. Overhead expenses fall into two categories: variable and fixed.
What distinguishes a variable from a fixed one?No matter how many units are produced, fixed costs are incurred. When units are produced, variable costs are incurred. Does the number of units affect it? With an increase in the number of units produced, fixed costs decrease.
What is an overhead on a variable?The costs of running a business that change depending on the level of business or manufacturing activity are known as variable overhead. Variable overhead fluctuates in tandem with production output.
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solar power llc and trey enter into an oral contract under which solar agrees to provide trey with lifetime employment. this contract may be enforceable by
The contract may be enforceable by either Solar or Trey. Hence the correct choice of answer for this question would be option (b).
Give a brief account on corporate law.Corporate law, usually referred to as business law, is the body of legislation that regulates the rights, relationships, and behavior of individuals, groups, and enterprises. The phrase describes the idea of companies as well as the legal practice of corporate law. Law that deals with issues that directly result from a corporation's life cycle is frequently referred to as corporate law. Thus, it includes the creation, financing, administration, and dissolution of a corporation.
Similar legal traits and legal issues occur across numerous jurisdictions, notwithstanding differences in the minute form of corporate governance as exemplified by share ownership, capital market, and business culture rules. Corporate law controls how businesses, creditors, shareholders, directors, employees, and other stakeholders—including customers, the public, and the environment—interact with one another.
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Solar Power LLC and Trey enter into an oral contract under which Solar agrees to provide Trey with lifetime employment. This contract may be enforceable by
a. Trey only.
b. either Solar or Trey.
c. any interested third party, such as a Solar supplier.
d. Solar only.
suppose a rallying stock market causes aggregate expenditures by consumers to increase by $200. if the mps is 0.2, what is the change in real gdp associated with this positive shock to the economy?
The current market value of all the finished goods and services in the economy is known as aggregate expenditure.
How do you calculate aggregate expenditure?The formula for total spending is AE = C + I + G + NX. The equation is written as follows: Total expenditure = sum of household consumption (C), investments (I), government spending (G), and net exports (NE).Consumption (C): The total annual household consumption.Investment (I): Capital expenditures that are budgeted.Federal, state, and municipal government spending is indicated by the letter "G," or "government expenditure." Infrastructure or transfers are examples of government spending that raise the total amount spent by the economy.Net exports (NX) are the sum of all exports minus all imports.Given:
The initial change in total spending was $200; the MPS was 0.20. Find the multiplier for expenses. Multiplier for expenses =1/MPS=1/(0.2)=5. Initial change in aggregate expenditures x expenditure multiplier ($200 x 5) equals $1000 in terms of the overall impact on real GDP.To Learn more About aggregate expenditure refer to :
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over the 5 years, the median return for stock funds was as follows: large growth 9%, small growth 12.1%, large value 16.3%. supposed to have 10,000 to invest in 3 funds, decide to invest 2000 more in the large growth fund than in the small growth fund. how much should you invest in each fund for one year to get return 11% a.) name the unknown quantities b) set up system of 3 equations and 3 unknowns
Largegowth = 9%, Smallgrowth = 12.1%, Large value = 16-3 %, After finding the inverse matie of A and product sin with the matrix we will find the value of the fund invested in each fund.
The thing being sold is called a "product." An item or service can be considered a product. Physical, virtual, or cyberspace forms are all possible. Every good has a price because it costs money to produce it.
Regardless of their official title within the company, whoever is ultimately in charge of defining the product holds the role of product manager or product strategist.
A fund is a type of investment that amasses funds from numerous investors. Following that, fund managers invest the money in a range of stocks and bonds. Units representing a portion of the fund's holdings are distributed to each investor. Here is a list of the most popular mutual fund categories in India: Equity funds
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the model of loanable funds uses a supply and demand diagram to model savings and investment. this model helps us determine the price of a loan which is called an .
To represent savings and investment, create a supply and demand diagram. This model aids in calculating the interest rate, which is the cost of a loan.
Interest rates and the amount of money in circulation are inversely related. A bigger money supply results in lower market interest rates, which reduces the cost of borrowing for consumers. In contrast, lower money supply tends to result in higher market interest rates, increasing the cost of borrowing for consumers.
Individuals and companies who save money (or make financial investments, which is the same thing) are on the supply side of the financial market. On the demand side of the financial market are those who borrow money.
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monopoly arises when: a. there is a firm desiring to compete in many markets b. there is a firm wanting to maximize profits c. there are barriers to the entry of other firms d. there is government intervention to establish and enforce a price ceiling
The correct Option is C. Monopoly arises when there are barriers to the entry of other firms.
An economics-themed board game with many players is called Monopoly. To move across the game board, acquire, trade, and develop properties with homes and hotels, players roll two dice.
To force their rivals into bankruptcy, players collect rent from them. Tax squares, Community Chest cards, and Chance cards all have a financial component. Every time they pass "Go," players are paid a stipend.
However, they also risk getting locked up and cannot leave until one of three requirements has been satisfied. House rules, numerous spin-offs, hundreds of publications, and related media are all available.
Having been published in more than 37 languages and having local licenses in more than 103 countries, Monopoly has ingrained itself into global popular culture.
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a monopolistic competitor has fixed costs of $200 and marginal costs of $10 per unit. what is its average cost of producing 100 units?
The average cost of producing 100 units will be $22
Cost of one product can be found as total cost / number of units
200/ 100 = $2
Marginal cost per unit is $10
Hence average marginal cost is 200/10 = $20
So total average cost is 20 + 2 = $22
A form of imperfect competition known as monopolistic competition pits numerous producers against one another by selling distinctive goods that are not exact substitutes for one another. A company engaged in monopolistic competition disregards how the prices set by its rivals are impacted by its own prices and considers them as given. In the face of coercive authority, monopolistic competition will transform into a government-granted monopoly.
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a settlement awarded $2 million to each of the four hundred individuals harmed by the effects of groundwater emissions created by manufacturing processes at standard corporation the award money is an example of
Punitive damages are one type of settlement that paid $2 million to each of the 400 people who were harmed by Standard Corporation's manufacturing processes' effects on groundwater emissions.
A defendant who has been found guilty of committing a wrong or offence may also be required to pay punitive damages in addition to compensatory damages. They are given out when it is determined that compensatory damages, or the money paid to the injured party, are insufficient.Punitive damages go beyond just making the wronged party whole. They are intended specifically to punish defendants whose actions are judged to have been either egregiously negligent or willful. Punitive damages are also known as exemplary damages because they are meant to serve as a warning to prevent repeat offenses.Punitive damages are always awarded alongside other damages; they are never awarded on their own. In essence, they provide a means of punishing the defendant even more for their actions.Learn more about Punitive damages, here
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time management experts often recommend that you write goals for your education or career and leave other areas of life unplanned.
Time management specialists frequently advise writing down objectives like your education or profession while leaving other elements of your life unscheduled, however this advice is untrue.
What is your definition of management?In order to achieve desired goals and objectives, the person or group of people should be challenged and managed, according to the concept of management. Furthermore, the ability to organize, monitor, and help guide is a part of management.
Why is the management important?A manager's job is to give all attempts to achieving organizational objectives general direction and leadership. Increasing effectiveness: Through effective planning, organizing, managing, and directing, management increases productivity, which in turn helps the business become more efficient.
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The prices of high-coupon bonds tend to be less sensitive to a given change in interest rates than low-coupon bonds, other things held constant.
The statement that the prices of high-coupon bonds tend to be less sensitive to a given change in interest rates than low-coupon bonds, other things held constant is a True statement.
A Bond may be defined as the kind of collateral that is brought or sold by any individual or firm in order to gain profits in the near future. The price of the bond will increase as the bond will earn an amount of interest and bond will earn interest within its maturity period and after maturity period the price of bond will be increased. The coupon rate may be defined as the rate at which the bond will yield an interest. It is the rate which will be paid by the issuer. A high-coupon bond will be the one in which the coupon rate will be more and the interest earned will be more. A low-coupon bond will be the one in which the coupon rate will be less and the interest earned will be less, High coupon bonds are less sensitive as compared to low coupon bonds.
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Complete Question:
The prices of high-coupon bonds tend to be less sensitive to a given change in interest rates than low-coupon bonds, other things held constant. True or False
a new range of organic confectionary was introduced by bounty foods. the company is forced to give its dealer high margins and also needs to invest heavily in advertising. their production costs are also high. in which plc stage is the company most likely to be?
The company is most likely to be in Introductory stage.
What is Introductory stage?The introduction stage refers to the first phase of the product life cycle. A notable factor at this stage is that the product has just hit the market, the sales are slow and you have to spend a lot of money on advertising to make it attractive to your customers. During the Introductory stage , you should focus on building your product base and focus on the following marketing elements: Pricing. distribution. financial support. Increased product awareness through advertising/word of mouth. Offer a discount on your product – Penetration pricing to get customers to try your product. Reach out to early adopters and influential market leaders. For example, a company can offer free product reviews to influential bloggers in the market.To learn more about Introductory stage from the given link :
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which of porter's four competitive strategies is involved when a company offers products or services that are of unique or superior value compared to those of competitors and that target a wide market?
When a business targets a large market and provides goods or services that are distinct from those of rivals or offer better value, differentiation strategy is at play.
Write a short note on product differentiation.The primary characteristic or characteristics that distinguish a company's goods or services from those of its competitors are referred to as its products. Product differentiation that works results in brand loyalty and higher revenue.
Finding and presenting a product or company's distinguishing qualities as well as the most important differences between it and its competitors are part of a product differentiation strategy. Making a product or service appealing to a target market or audience depends on developing a compelling value proposition and product distinctiveness.
Product differentiation, when done correctly, can give the product's seller a competitive advantage and ultimately boost brand recognition. Two examples of distinct products are the fastest high-speed Internet service and the most economical electric vehicle on the market.
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joan is concerned about her company's liquidity. of the following parts of the balance sheet, which would provide her with the information she needs? a.) equity b.) current assets c.) calculate the total liabilities d.) non-current assets
(b)Current assets of the company will give the information required by Joan.
A financial statistic called a liquidity ratio is used to assess a company's capacity to settle its short-term loan obligations. The statistic aids in figuring out if a business can use its liquid, or current, assets to pay its current liabilities.
The current ratio, quick ratio, and cash ratio are the three liquidity ratios that are most frequently utilized. The amount of current liabilities is put in the denominator of the equation for each liquidity ratio, and the amount of liquid assets is put in the numerator.
Ratios above 1.0 are desired due to the ratio's structure, which places assets on top and liabilities at the bottom. With a ratio of 1, a business can fully cover all of its current liabilities with its cash on hand.
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jenna is seeking to raise money to develop a new app where individuals can buy and sell used clothing. she is looking for long-term investors in her product, and she wants to protect her personal assets from any liabilities associated with borrowing capital. which form of business structure would clearly meet jenna's needs? a.) partnership b.) limited liability partnership c.) sole proprietorship d.) corporation
The correct choice is option c. Sole proprietorship .A person who runs an unincorporated business alone is known as a sole proprietor.
What is a sole proprietor?A person who runs an unincorporated business alone is known as a sole proprietor.However, if you want to classify a domestic limited liability company (LLC) as a corporation and you are the only member, you are not a sole owner. Small companies like a neighborhood grocery store, a neighborhood clothing store, an artist, a freelance writer, an IT consultant, a freelance graphic designer, etc. are examples of sole proprietors. An LLC exists independently of its members, who are its proprietors.Members are not personally liable for the obligations and liabilities of the company, nevertheless.The LLC is in charge here.A sole proprietorship is a single person-owned, unincorporated company. A sole proprietorship has many advantages, including little paperwork and inexpensive setup.There is also how simple it is to maintain.It's actually the simplest and least expensive form of business you may start, according to the SBA. The owner of a sole proprietorship is personally liable for all of the company's debts, putting his or her personal assets and future earnings at jeopardy.This is the main justification for staying away from sole proprietorships.To learn more about sole proprietor refer
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cost drivers are a. activities that cause costs to increase as the activity increases. b. accounting techniques used to control costs. c. accounting measurements used to evaluate whether or not performance is proceeding according to plan. d. a mechanical basis, such as machine hours, computer time, size of equipment, or square footage of factory, used to assign costs to activities.
Cost drivers are Activities that cause costs to increase as the activity increases.
What are Cost drivers?A cost driver is the immediate reason for a cost and has an impact on the overall cost incurred. For instance, if you need to figure out how much electricity was used during a specific time period, the number of units consumed determines the total electricity bill.
Any action that causes the cost of another thing to increase is a cost driver. An illustration of this might be how the cost of your water bill is based on how much water your office uses each month. The cost is represented by the water bill, while the cost drivers are the water units.
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which cost of quality category includes performing audits to confirm that the quality system is operating properly? which cost of quality category includes performing audits to confirm that the quality system is operating properly? prevention costs external failure costs internal failure costs appraisal costs
The appraisal Cost of the quality category includes performing audits to confirm that the quality system is operating properly. Option(d) is correct.
Cost of quality refers to a system that enables an organization to assess how much of its resources are allocated to operations that avoid subpar quality, evaluate the quality of the firm's goods and services, and are caused by both internal and external failures.
Costs of appraisal are related to quality monitoring and measurement activities. These expenses relate to the suppliers' and clients' verification of the specifications compliance of the materials, procedures, goods, and services they have purchased.
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what do the aba model guidelines for the utilization of paralegal services say about the use of screens in conflicts cases involving paralegals?
According to the state guidelines for the use of paralegals, a paralegal's role in maintaining client confidentiality is to safeguard the client-confidentiality agreement and client confidences.
To avoid disclosing the client's information or using the client's information to disadvantage them in court, the ABA Guidelines recommend "exercising care" around the client. In a similar vein, the client confidentiality rules of the paralegal associations are largely identical. They are all in agreement regarding the significance of the confidentiality agreement with the client and the obligation to maintain confidentiality.
Professional conduct helps to separate the personal from the professional; It restricts relationships to the current business setting. A judge, for instance, cannot talk directly to a plaintiff or defendant. While completing transactions on behalf of customers, bank tellers act as representatives of the company.
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Full Question = What do the state guidelines say about the paralegal's role in client confidentiality? What do the ABA Guidelines for the Utilization of Paralegal Services say? What about the paralegal's associations' rules? Are these sources in accord?
kenny, inc., is looking at setting up a new manufacturing plant in south park. the company bought some land six years ago for $5.3 million in anticipation of using it as a warehouse and distribution site, but the company has since decided to rent facilities elsewhere. the land would net $7.4 million if it were sold today. the company now wants to build its new manufacturing plant on this land; the plant will cost $26.5 million to build, and the site requires $1.32 million for an access road to a major highway. what is the proper cash flow amount to use as the initial investment in fixed assets when evaluating this project? why?
The proper cash flow amount to use as the initial investment in fixed assets when evaluating this project is $38,410,100
Cash flow amount = Opportunity costs + costs + upgrading costs
Cash flow amount = $7,700,000 + $29,300,000 + $1,410,000
Cash flow amount = $38,410,000
Cash flow refers to the net change in cash and cash equivalents coming into and leaving a business. Money received and spent serves as a representation of inflows and outflows, respectively. The cash inflows a business experiences from ongoing operations and outside sources of investment are all detailed in a financial statement called a cash flow statement. It also covers any cash withdrawals made during a specific time period to pay for investments and business expenses.
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when completing your 'a' tasks each day you should be willing to delegate and ask for help when needed. true false
It is true that when completing your a tasks each day you should be willing to delegate and ask for help when needed.
An essential managerial skill is delegation. But for some, putting it into practice is the most difficult. There are a number of reasons why managers might hesitate to assign work. They could:
To feel indispensable to their team by being the repository of specialized information, they believe it would take longer to explain the task than to actually complete it themselves. As a result, they prefer not to be reassigned.
You feel bad about adding more tasks to the list of things to do for another employee.
Lack of faith or confidence in the people they need to pass the project to Belief that they are the only ones capable of completing the task successfully
Whatever the reason, it's crucial to keep improving the ability because failing to delegate might have unfavorable effects.
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an advantage to collecting data with personal interviews is: group of answer choices it is cheap it can be done quickly it is easy to identify appropriate respondents more complicated issues can be examined
Sensitive topics are those that individuals often find awkward to discuss (like harassment, addictions, violence).
Numerous studies on the subject have demonstrated that people may conceal certain aspects of themselves when being interviewed in order to make a good impression on the interviewer. As a result, the information gleaned in this manner is not always accurate.It can be challenging for people to discuss sensitive topics, especially with a complete stranger (like a researcher). Therefore, it is advised not bringing up sensitive subjects during interviews; instead, use self-administered questionnaires where the respondent is not required to speak with anyone.A questionnaire is not advised when dealing with complex issues since it can leave the researcher with insufficient data, and because the subject is complex, the researcher may wish to be there to clarify respondents’ responses. Therefore, it is preferable to employ interviews for complex situations.
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carlos purchased an apartment building on november 16, 2017, for $3,000,000. determine the cost recovery for 2017.
The cost recovery is $13,650. In the cost recovery method of accounting, a company only records the revenue it makes from a transaction when the client has paid enough of the invoice to cover all of the transaction's costs.
Statement demonstrating calculations
Particulars Amount
Building costs were $3,000,000.00.
Deduction for cost recovery: 3,000,000 *.00455
$13,650.00 is the cost recovery for 2017.
An expense and cost recovery system (ECRS) is a focused subset of "extract, transform, load" (ETL) that serves as a strong and adaptable set of applications, including programs, scripts, and databases designed to enhance the cash flow of businesses and organizations by automating the movement of data between cost recovery systems, electronic billing from vendors, and accounting systems.
In the cost recovery method of accounting, a company only records the revenue it makes from a transaction when the client has paid enough of the invoice to cover all of the transaction's costs.
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At the end of the year 2 accounting period, deyoung company determined that the market value of its inventory was $79,800. The historical cost of this inventory was $81,400. Defazio uses the perpetual inventory method. Assuming the amount is material, how will the entry necessary to reduce the inventory to the lower of cost or market affect the elements of the company’s financial statements?.
The entries required to reduce inventory to a decreased value by reducing a company's overall assets and gross margin. Beside that, by reducing internet profit of the company also can make inventory decrease to the lower of cost or market affect.
Marginal cost refers to the value to provide one additional unit of manufacturing. It is a crucial idea in price accounting as marginal value helps decide the maximum green stage of manufacturing for a production process. It is calculated by determining what costs are incurred if one extra unit is best and what prices are incurred if best one extra unit is manufactured. The relation between marginal cost and inventory is marginal price represents the incremental expenses incurred while generating extra devices of an excellent or service. It is calculated by taking the whole alternate in the price of manufacturing greater items and dividing that through the alternate in the variety of products produced.
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ta failte romhat is a boutique store specializing in irish foods and gifts. they sell woolen sweaters handmade in the aran islands for 104 euros. the sweaters cost them 48 euros. if the manager of the store wanted to achieve a 65% target margin, what should be the selling price for the sweaters in euros?
The selling price is the cost a customer pays for a good or service. Depending on the price that consumers are willing to pay, the price's reasonableness in comparison to prices charged by competing businesses in the market, as well as the seller's acceptability threshold.
What is selling price ?The final price to the seller, or what the customer actually pays, is the selling price of a good or service. A good or service can be traded in a precise quantity, weight, or measurement.
The selling price, commonly referred to as the list price or marked price, is the amount that a seller currently earns from a customer after negotiating a price or striking a deal. Usually, the selling price is lower than the marked price. However, there are situations when the marked price as well as the selling price will be the same. One example of this is a store with a fixed pricing where the shopkeeper forgoes any form of discount or price decrease.
The price a consumer will pay to purchase a product is known as the selling price. A retailer must add an additional sum to the selling price in order to cover their product costs if they wish to generate a positive gross margin (or gross profit percentage). This extra sum must be enough to pay the retailer's selling, general, and administrative costs as well as a small profit.
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every two weeks, no more pencils, incorporated, disburses checks that average $90,000 and take six days to clear. how much interest can the company earn annually if it delays transfer of funds from an interest-bearing account that pays .011 percent per day for these six days? ignore the effects of compounding interest. (do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
The interest can the company earn annually if it delays transfer of funds from an interest-bearing account that pays .011 percent per day for these six days is $1,407.12.
Information given in the query:
Checks issued on average total = $82,000.
Checks are issued on average every two weeks.
also,
52 weeks make up a year.
Therefore, Checks are distributed 52/2 = 26 times per year.
Rate of Interest = 0.11%
Delay in payment days = 6.
Now,
The corporation earned interest = Amount of the checks × Days of
payment postponement × Weeks of
check disbursement × Interest rate
= $82,000 × 6 × 26 × 0.011%
= $1,407.12
In the fields of finance and economics, interest is the payment of a sum over and above the principal amount (the amount borrowed) to a lender or depositor at a set rate by a borrower or deposit-taking financial institution. It differs from a fee the borrower might pay the lender or another party. It also differs from a dividend, which is money given to shareholders (owners) by a company from its profit or reserve, but not at a set rate predetermined in advance, but rather on a pro rata basis as a portion of the rewards received by risk-takers who take on costs in order to generate revenue.Learn more about Interest, here
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accounting for employee share purchase plans is simplified if the plan meets three conditions. one of these conditions requires that the discount on the share purchase price is:
One of these conditions requires that the discount on the share purchase price is no greater than 5%.
Employee share purchase plans allow staff members to purchase shares of the company's common stock directly from the business on convenient or advantageous conditions. We merely report the sale of new shares as employees purchase them if such a plan fits all three of the following criteria, in which case it is deemed non-compensatory and no compensation expense is recorded:
There is an equitable opportunity for participation for nearly all full-time employees Participation is open to nearly all full-time employees on an equitable basis. The market discount is modest (no higher than 5%). The employee has one month from the date the pricing is set to determine whether to participate.To learn more about Employee shares, visit the link below:
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