Employees who possess transaction authorization should have control over data control functions as needed in order to keep the system running effectively would follow good internal control guidelines within the IT department.
Internal control is a method utilized by an entity to ensure that it achieves its objectives in a safe and efficient manner. Internal controls provide a framework for a company to achieve its objectives while also providing a degree of assurance that its financial reporting is accurate and trustworthy. Some of the benefits of implementing internal controls in an organization include the following: Provide assurance to senior management and board members that an organization is operating effectively and meeting its goals. Enhance the reliability and accuracy of financial reporting. Increase operational effectiveness and efficiency. Safeguard the organization's assets by reducing the chance of fraud or embezzlement. Ensure compliance with regulatory and legal requirements. The above mentioned scenario that follows the good internal control guidelines within the IT department is that employees who possess transaction authorization should have control over data control functions as needed to keep the system running efficiently.
To learn more about employees, visit:
https://brainly.com/question/30737212
#SPJ11
Suppose you deposit $2,848.00 into an account today. In 13.00
years the account is worth $3,593.00. The account earned ____% per
year. Answer format: Percentage Round to: 2 decimal places
(Example: 9.
The account earned an interest rate of 2.75% per year. By using the given values and the formula for compound interest, we determined the annual interest rate that resulted in the given growth of the deposit amount over a period of 13 years.
Given:
Deposit amount = $2,848.00
Value of the account after 13 years = $3,593.00
To determine the interest rate earned per year on the deposit, we use the formula:
Amount = Principal × (1 + Interest Rate)^n
1. Plugging in the given values, we have:
$3,593 = $2,848 (1 + r)^13
2. Now, let's solve for the interest rate, r:
$3,593 / $2,848 = (1 + r)^13
1.262 = (1 + r)^13
3. To isolate r, we take the 13th root of each side:
1.262^(1/13) = (1 + r)^(13/13)
1.0275 - 1 = r
0.0275 or 2.75%
Therefore, the account earned an interest rate of 2.75% per year. By using the given values and the formula for compound interest, we determined the annual interest rate that resulted in the given growth of the deposit amount over a period of 13 years.
To know more about account click here:
https://brainly.com/question/30977839
#SPJ11
Bokhari Company prepares annual financial statements. Below are listed some selected accounts and their balances in the September 30 trial balance before any adjustments have been made for the year ended September 30, 2014.
BOKHARI COMPANY
Trial Balance (Selected Accounts)
September 30, 2014
Debit Credit
Office Supplies.. $ 2,700
Prepaid Insurance.. 5,400
Office Equipment.. 16,200
Accumulated Depreciation Office Equipment... $ 6,480
Unearned Rent Revenue............ 1,200
(Note: Debit column does not equal credit column because this is a partial listing of selected account balances.)
An analysis of the account balances by the company's accountant provided the following additional information:
1. A physical count of office supplies revealed $1,200 on hand on September 30.
2. A one-year life insurance policy was purchased on June 1 for $5,400.
3. Office equipment is expected to have a life of 5 years. Depreciation is recorded monthly.
4. The amount of rent received in advance that remains unearned at September 30 is $500.
Instructions:
Prepare the adjusting entries that should be made by Bokhari Company on September 30.
To prepare the adjusting entries for Bokhari Company on September 30, we need to consider the additional information provided. Here are the adjusting entries that should be made:
Adjusting entry for office supplies:
Debit: Office Supplies Expense - $1,500
Credit: Office Supplies - $1,500
Explanation: (2,700 - 1,200) = 1,500 reduction in office supplies.
Adjusting entry for prepaid insurance:
Debit: Insurance Expense - $450
Credit: Prepaid Insurance - $450
Explanation: (5,400 / 12 months) x 3 months = 1,350, so 5,400 - 1,350 = 4,050 remains as prepaid insurance.
Adjusting entry for depreciation of office equipment:
Debit: Depreciation Expense - Office Equipment - $270
Credit: Accumulated Depreciation - Office Equipment - $270
Explanation: (16,200 / 5 years) / 12 months = 270 monthly depreciation.
Adjusting entry for unearned rent revenue:
Debit: Unearned Rent Revenue - $500
Credit: Rent Revenue - $500
Explanation: Recognizing $500 as earned revenue.
After making these adjusting entries, the account balances will be correctly adjusted to reflect the correct amounts as of September 30.
to know more about Depreciation Expense click this link
brainly.com/question/30369224
#SPJ11
To prepare the adjusting entries for Bokhari Company on September 30, we need to consider the additional information provided. Here are the adjusting entries that should be made:
Adjusting entry for office supplies:
Debit: Office Supplies Expense - $1,500
Credit: Office Supplies - $1,500
Explanation: (2,700 - 1,200) = 1,500 reduction in office supplies.
Adjusting entry for prepaid insurance:
Debit: Insurance Expense - $450
Credit: Prepaid Insurance - $450
Explanation: (5,400 / 12 months) x 3 months = 1,350, so 5,400 - 1,350 = 4,050 remains as prepaid insurance.
Adjusting entry for depreciation of office equipment:
Debit: Depreciation Expense - Office Equipment - $270
Credit: Accumulated Depreciation - Office Equipment - $270
Explanation: (16,200 / 5 years) / 12 months = 270 monthly depreciation.
Adjusting entry for unearned rent revenue:
Debit: Unearned Rent Revenue - $500
Credit: Rent Revenue - $500
Explanation: Recognizing $500 as earned revenue.
After making these adjusting entries, the account balances will be correctly adjusted to reflect the correct amounts as of September 30.
to know more about Depreciation Expense click this link
brainly.com/question/30369224
#SPJ11
According to Justice Scalia, during the 1960's, courts and law schools took the interpretation of the Constitution in radical direction. He points out 2 doctrinal developments that were central to this change. What are they?
According to Justice Scalia, during the 1960s, courts and law schools adopted a radical interpretation of the Constitution. Two doctrinal developments that were central to this change, as pointed out by Scalia, are:
1. Substantive Due Process: This doctrine expanded the scope of individual rights protected by the Constitution beyond its original intent. It argued that certain fundamental rights were implied within the Due Process Clause of the Fourteenth Amendment, allowing the courts to strike down laws that were seen as infringing upon these rights.
2. Living Constitution Theory: This theory suggests that the Constitution is a living document that should adapt and evolve with society's changing values and needs. It rejects strict adherence to the original meaning of the Constitution, enabling judges to interpret and apply its provisions in a more flexible manner.
Justice Scalia criticized the direction taken by courts and law schools in the 1960s, asserting that they deviated from a strict originalist interpretation of the Constitution. Two significant doctrinal developments he identified were Substantive Due Process and the Living Constitution Theory.
Substantive Due Process expanded the interpretation of the Due Process Clause of the Fourteenth Amendment, allowing courts to protect individual rights not explicitly mentioned in the Constitution. The Living Constitution Theory advocates for a more flexible interpretation of the Constitution, arguing that its meaning should adapt to societal changes. Scalia's critique suggests that these developments led to a departure from the original intent of the framers and a more activist approach to constitutional interpretation.
learn more about constitution click here;
https://brainly.com/question/27962072
#SPJ11
the highest fifth of all families receive approximately what percent of the distribution of annual money income among families?
The specific percentage corresponding to the highest fifth of all families receiving annual money income may vary depending on the data and time period being referenced.
However, if we consider a commonly used measure of income distribution, such as the "Quintile Share Ratio," we can make a general statement.
In the Quintile Share Ratio, the highest fifth of families refers to the top 20% of income earners. This group consists of the families with the highest incomes in the distribution. Typically, this segment holds a significant portion of the total income in the distribution.
While the exact percentage may vary, it is common for the highest fifth of families to capture a significant share of the income distribution, often ranging from approximately 40% to 50% or even higher, depending on the specific distribution of income within a country or region. It is worth noting that income inequality can differ across countries and over time, leading to variations in the percentage held by the highest income group.
Learn more about Quintile Share Ratio here:
https://brainly.com/question/30540337
#SPJ11
Scott Corporation makes one product. Budgeted unit sales for October, November, December and January are 10,000, 11,600, 13,300, and 12,700 units, respectively. The ending finished goods inventory should equal 20% of the following month's sales. The budgeted required production for November is closest to: 16,580 units 11,940 units 14,260 units O 11,600 units
To calculate the budgeted required production for November, we need to calculate the required ending finished goods inventory for November and add the November unit sales to it.
Then we will deduct the October finished goods inventory to find out the required production for November.
Required Ending Finished Goods Inventory for November:20% of November sales = 20% of 11,600 units= 0.20 * 11,600= 2,320 unitsRequired Production for November:
Therefore, the budgeted required production for November is 12,920 units. This is closest to option B (11,940 units).
to know more about Inventory visit:
https://brainly.com/question/31146932
#SPJ11
Which of the following is NOT true about Efficient Markets (using the stock market as an example)? Multiple Choice In a perfectly efficient stock market, all stocks are trading at their fair value. Stock prices react(change) to unexpected news.
It is impossible for investors to make money on stocks It is difficult of the investors to beat the returns of the market
Efficient markets can be defined as markets that are organized and maintain a level of integrity that makes it easier for investors to purchase and sell securities while also increasing confidence in the market. the correct option that is NOT true about Efficient Markets is "It is impossible for investors to make money on stocks."
The following is NOT true about Efficient Markets:It is impossible for investors to make money on stocks.Because of the idea that prices react to unexpected news, market efficiency is frequently linked to the notion of information efficiency. This implies that investors' responses to new information is reflected in security prices instantaneously, making it difficult for investors to make money by trading stocks based on new information.What this implies is that any publicly available knowledge about the underlying value of the stock is already taken into account by the market's current price. So, in summary, investors cannot always expect to outperform the market because it is difficult to gain a competitive edge over other investors in a perfectly efficient market. To conclude, the correct option that is NOT true about Efficient Markets is "It is impossible for investors to make money on stocks."
To know more about Efficient markets visit:
https://brainly.com/question/28529377
#SPJ11
1. "When you are manufacturing at the scale of the global population, details matter. A victory came when they found a way to cut wastage and go from five doses per vial to six
Briefly discuss this statement in relation to SDG12: Responsible Consumption and
Production. Justify your position using TWO reasons based on utilitarianism.
From a utilitarian perspective, cutting wastage and increasing the number of doses per vial aligns with SDG12 by promoting responsible consumption and production. It maximizes overall utility by optimizing resource use, enhancing access to healthcare, and improving well-being for a larger population.
The statement highlights the importance of reducing wastage in manufacturing and its connection to SDG12: Responsible Consumption and Production. Utilitarianism, as an ethical framework, focuses on maximizing overall utility or happiness for the greatest number of people. Here are two reasons based on utilitarianism to justify the significance of cutting wastage in relation to SDG12:
1. Efficiency and Resource Optimization: By finding a way to increase the number of doses per vial from five to six, there is a reduction in wastage of the product. This optimization leads to more efficient use of resources, such as raw materials, energy, and packaging materials. From a utilitarian perspective, this reduction in wastage maximizes utility by minimizing the depletion of resources and allowing for the production of additional doses to meet the needs of a larger population. It contributes to responsible consumption by ensuring that resources are used effectively and sustainably to benefit a greater number of individuals.
2. Access to Healthcare and Improved Well-being: Cutting wastage and increasing the number of doses per vial has the potential to increase the availability and affordability of the product. This can have a significant positive impact on public health, as more people can access the necessary medication or treatment. Utilitarianism emphasizes the importance of promoting overall well-being and happiness. By reducing wastage and improving access to healthcare, the action aligns with the utilitarian principle of maximizing overall utility by providing more individuals with the means to lead healthier lives. This contributes to the broader goal of responsible consumption and production by ensuring that healthcare resources are utilized effectively and equitably.
Learn more about Utilitarianism here:
https://brainly.com/question/20392371
#SPJ11
Based on your understanding, briefly explain the way(s) to
detect the problem of multicollinearity in the model (Maximum 250
words).
Multicollinearity is a problem that arises when there is high correlation between predictor variables. This can lead to a number of issues, such as difficulty in interpreting the coefficients, instability in the coefficients, and decreased predictive power of the model.
There are a number of ways to detect multicollinearity in a model. One way is to look at the correlation matrix between the predictor variables. If there are high correlations (e.g., >0.7 or < -0.7) between two or more variables, this could indicate multicollinearity. Another way is to calculate the variance inflation factor (VIF) for each predictor variable. The VIF measures how much the variance of the estimated coefficient is increased due to multicollinearity.
To know more about estimated refer :
https://brainly.com/question/27981491
#SPJ11
Joe Techno placed an order to an online technology products company. The bundling of a printer, desk-top computer and 2 GB external hard drive in a single shipment by the wholesaler constitutes which of the following 21st0-century channel roles?
A. system solver
B. Resource prospector
The bundling of a printer, desktop computer and 2 GB external hard drive in a single shipment by the wholesaler constitutes the 21st-century channel role of a system solver.
System Solver is a 21st-century channel role that refers to a participant in a marketing channel that recognizes customers' problems and brings together all necessary resources to solve the problem. This ensures that the customer receives all items necessary to address their problems from a single supplier. In other words, a system solver bundles goods and services in response to a customer's specific needs.
Joe Techno placed an order for a printer, desktop computer, and 2 GB external hard drive from an online technology products company. The wholesaler bundled all three items in one shipment to meet Joe Techno's specific need. In this case, the wholesaler acts as a system solver.
For more about constitutes:
https://brainly.com/question/32303123
#SPJ11
What elements of culture do you expect to be challenging with respect to your country of choice? (exporting cocoa chocolate to Germany)
Choice Country: Germany
Product: Cocoa Chocolate
Exporting cocoa chocolate to Germany may pose cultural challenges related to taste preferences, labeling requirements, and consumer expectations.
German culture values high-quality and organic products, strict adherence to labeling regulations, and a preference for dark chocolate. Understanding these cultural elements is crucial to successfully market and sell cocoa chocolate in Germany. German consumers prioritize products that are sourced sustainably and produced with minimal additives or artificial ingredients. Exporters of cocoa chocolate to Germany should ensure that their products meet these expectations by highlighting the use of natural ingredients, sustainable sourcing practices, and any relevant certifications such as organic or fair trade.
Another cultural aspect to consider is Germany's strict labeling regulations. German consumers value transparency and expect clear and accurate product labeling, including information on ingredients, nutritional values, allergens, and any potential health claims. Exporters should ensure that their cocoa chocolate packaging complies with German labeling requirements to build trust and credibility among consumers.
Learn more about consumers here:
https://brainly.com/question/30132393
#SPJ11
At time t=0, R$= 15%, R€= 15%, and E$/€=1. Assume that Reserve Bank of Australia permanently increases money supply in Australia by 30% at time t=2. In addition, assume the following: 1. The policy change is anticipated at t=1
2. Prices are completely flexible in the short run and immediately respond to any change in money supply
3. Output is always fixed at Y 4. R€= 15% at t=1 and t=2
Select the most appropriate option:
A. E$/€=1.3 at t=1 and in the long-run; E$/€>1.3 at t=2
B. E$/€=1.3 at t=1, t=2, and in the long-run
C. E$/€=1.0 at t=1; E$/€>1.3 at t=2; E$/€=1.3 in the long-run
D. E$/€>1.3 at t=1 and t=2; E$/€=1.3 in the long-run
E. E$/€>1.3 at t=1; E$/€=1.3 at t=2; E$/€=1.3 in the long-run
The correct option is D)
E$/€>1.3 at t=1 and t=2; E$/€=1.3 in the long-run.What is the effect of an increase in the money supply on exchange rates?The question is about exchange rates and specifically about the effect of an increase in the money supply on exchange rates. The Reserve Bank of Australia increases the money supply in Australia by 30% at time t=2, which is the most critical piece of information required to answer the question. An increase in the money supply leads to a decrease in interest rates and causes the exchange rate to fall. The supply of currency has risen, causing the value to drop. A change in the money supply will affect exchange rates in the short and long run. It's worth noting that when prices are fully flexible in the short run, they immediately react to any changes in the money supply. Therefore, at t=1, individuals will anticipate a rise in the money supply, which will cause the Australian dollar to depreciate. However, by t=2, when the money supply actually rises, the exchange rate will have declined even more. So, E$/€ will be greater than 1.3 at t=1 and t=2, but in the long run, it will be 1.3.
To know more about Australia visit;
brainly.com/question/29988993
#SPJ11
Decisions made by the Federal Reserve are part of:
Budget Policy
Monetary Policy
Tax Policy
Fiscal Policy
The best option is b that is monetary policy. The Federal Reserve is an independent entity in the US government that is responsible for monetary policy. Monetary policy refers to the actions taken by the central bank to manage the money supply and interest rates to achieve its objectives.
The decisions made by the Federal Reserve are part of monetary policy, not budget, tax, or fiscal policy. The central bank uses monetary policy tools such as open market operations, reserve requirements, and the discount rate to influence the supply of money and credit in the economy. Monetary policy can be used to stabilize the economy by influencing aggregate demand, which is the total demand for goods and services in the economy. The Federal Reserve can use expansionary monetary policy to stimulate economic growth by increasing the money supply and lowering interest rates. Conversely, the central bank can use contractionary monetary policy to slow down an overheating economy by reducing the money supply and increasing interest rates. Overall, the Federal Reserve plays a crucial role in managing the economy by using monetary policy tools to achieve its objectives of low inflation, stable prices, and maximum employment.
to know about contractionary monetary policy visit:
https://brainly.com/question/30783932
#SPJ11
Vikings Inc. reports the following amounts: How much goodwill would be recorded if Torretta Holdings purchases Vikings for $720,000?
Book Value Fair Value
Assets $400,000 $500,000
Liabilities $45,000 $45,000
Net income $25,000 A. $180,000
B. $280,000
C. $255,000
D. $100,000
E. $155,000
If Torretta Holdings purchases Vikings Inc. for $720,000, the amount of goodwill recorded would be $155,000.
Goodwill is an intangible asset that represents the value of a company's reputation, customer relationships, and other non-physical assets. To calculate goodwill in an acquisition, the purchase price is compared to the fair value of the net assets acquired. In this case, the fair value of Vikings Inc.'s assets is $500,000, and the fair value of liabilities is $45,000. Thus, the fair value of net assets is ($500,000 - $45,000) = $455,000. The purchase price of $720,000 exceeds the fair value of net assets, resulting in goodwill. Therefore, the goodwill recorded would be ($720,000 - $455,000) = $265,000. However, goodwill cannot exceed the fair value of the net assets, so the maximum goodwill recorded would be $155,000. If Torretta Holdings purchases Vikings Inc. for $720,000, the amount of goodwill recorded would be $155,000, as it is the difference between the purchase price and the fair value of net assets.
Learn more about goodwill here:
https://brainly.com/question/31927963
#SPJ11
A discount security will:
a.
be traded in the primary market.
b.
pay face value to the investor at purchase
c.
pay a regular coupon or interest payment until maturity
d.
have a sale price less than (a
A discount security will have a sale price less than its face value. Therefore, the correct answer is option (d).
Discount securities are financial instruments that are sold at a price lower than their face value.
They do not pay a regular coupon or interest payment like regular bonds.
Instead, investors earn a return by purchasing the security at a discount and receiving the full face value at maturity.
Let's consider an example to illustrate this. Suppose there is a discount security with a face value of $1,000 and a maturity period of 1 year. The security is sold at a discount of 10%, which means it can be purchased for $900 ($1,000 - 10% discount).
At maturity, the investor will receive the full face value of $1,000, regardless of the purchase price. Therefore, the investor earns a return of $100 ($1,000 - $900) over the course of one year. This return represents the interest or yield on the investment.
A discount security is traded in the secondary market and is characterized by having a sale price lower than its face value.
Unlike regular bonds, discount securities do not pay regular coupon or interest payments. Investors earn a return by purchasing the security at a discount and receiving the full face value at maturity.
To know more about discount visit:
https://brainly.com/question/29753897
#SPJ11
Twilight Capital Inc. is a large holding company that uses long-term debt extensively to fund its operations. At December 31, the company reported total assets of $100 million, total debt of $55 million, and total equity of $45 million. In January, the company issued $11 billion in long-term bonds to investors at par value. This was the largest debt issuance in the companies history, and it significantly increase the companies ratio of total debt to total equity. Five days after the debt issuance, Twilight Capital, Inc. filed legal documents to prepare for an additional $50 billion long-term bond issue. As a result of this filing, the price of the $11 billion in bonds that the company issued earlier in the week dropped to 94 because of the increase risk associate with the company's debt. The investors in the original $11 billion bond issuance were not informed of the companies plan to issue an additional debt so quickly after the initial bond issue.
Discussion:
• Did Twilight Capital Inc. act unethically by not disclosing to the initial bond investor its immediate plans to issue an additional $50 billion offerings.
• What are the investors alternatives to this act? Please explain.
The decision of whether Twilight Capital Inc. acted unethically by not disclosing its immediate plans to issue an additional $50 billion in long-term bonds depends on various factors, including the legal obligations and ethical standards applicable to the company and the bond issuance process.
In general, transparency and disclosure are considered important principles in financial markets to ensure fair and informed decision-making by investors.
Failing to disclose material information that could significantly impact the investment decision of bondholders may be seen as unethical or even illegal in some jurisdictions.
In this case, the immediate plans to issue an additional $50 billion in long-term bonds could be seen as material information that could affect the value and risk profile of the initial $11 billion bond issuance.
If Twilight Capital Inc. deliberately withheld this information from the initial bond investors, it could be perceived as a lack of transparency and potentially unethical behavior.
Investors who purchased the initial $11 billion bond issuance may have several alternatives if they feel disadvantaged or misled by Twilight Capital Inc.'s actions:
Legal Action: Investors could explore legal options if they believe Twilight Capital Inc. violated any disclosure obligations or securities laws. They may seek compensation or other remedies through litigation or arbitration.
Secondary Market Trading: Investors who no longer wish to hold the bonds due to the changed circumstances may choose to sell their bonds on the secondary market. However, the price drop to 94 suggests that the market has already adjusted to the new information, potentially resulting in a loss for the initial bond investors.
Engagement and Advocacy: Investors can use their influence as bondholders to engage with the company, express their concerns, and advocate for improved disclosure practices and transparency in the future. This can involve participating in shareholder meetings, submitting proposals, or communicating directly with company management.
It is important for investors to carefully assess the available information, consult legal and financial professionals, and consider their individual circumstances before taking any actions or making decisions related to their investments.
to know more about legal obligations click this link
brainly.com/question/32393152
#SPJ11
The decision of whether Twilight Capital Inc. acted unethically by not disclosing its immediate plans to issue an additional $50 billion in long-term bonds depends on various factors, including the legal obligations and ethical standards applicable to the company and the bond issuance process.
In general, transparency and disclosure are considered important principles in financial markets to ensure fair and informed decision-making by investors.
Failing to disclose material information that could significantly impact the investment decision of bondholders may be seen as unethical or even illegal in some jurisdictions.
In this case, the immediate plans to issue an additional $50 billion in long-term bonds could be seen as material information that could affect the value and risk profile of the initial $11 billion bond issuance.
If Twilight Capital Inc. deliberately withheld this information from the initial bond investors, it could be perceived as a lack of transparency and potentially unethical behavior.
Investors who purchased the initial $11 billion bond issuance may have several alternatives if they feel disadvantaged or misled by Twilight Capital Inc.'s actions:
Legal Action: Investors could explore legal options if they believe Twilight Capital Inc. violated any disclosure obligations or securities laws. They may seek compensation or other remedies through litigation or arbitration.
Secondary Market Trading: Investors who no longer wish to hold the bonds due to the changed circumstances may choose to sell their bonds on the secondary market. However, the price drop to 94 suggests that the market has already adjusted to the new information, potentially resulting in a loss for the initial bond investors.
Engagement and Advocacy: Investors can use their influence as bondholders to engage with the company, express their concerns, and advocate for improved disclosure practices and transparency in the future. This can involve participating in shareholder meetings, submitting proposals, or communicating directly with company management.
It is important for investors to carefully assess the available information, consult legal and financial professionals, and consider their individual circumstances before taking any actions or making decisions related to their investments.
to know more about legal obligations click this link
brainly.com/question/32393152
#SPJ11
Ex
please answer my question thanks alot
Exercise #4 (30%) Slate Corporation had the following balances in its stockholders' equity accounts at December 31, 2021: Common Stock, $10 par, 500,000 shares authorized, 20,000 shares issued $200,00
Slate Corporation's stockholders' equity accounts at December 31, 2021, included Common Stock with a par value of $10 per share.
The company had authorized 500,000 shares, out of which 20,000 shares were issued. The total amount of Common Stock issued was $200,000.
To calculate the number of shares that can still be issued, we subtract the number of issued shares from the number of authorized shares.
Authorized shares - Issued shares = Unissued shares
500,000 shares - 20,000 shares = 480,000 shares (Unissued shares)
The total amount of Common Stock issued, $200,000, represents the par value of the issued shares.
The par value is the nominal value assigned to each share by the company. In this case, each share has a par value of $10.
To find the total value of the authorized shares, we can multiply the par value by the number of authorized shares.
Par value per share × Authorized shares = Total value of authorized shares
$10 per share × 500,000 shares = $5,000,000 (Total value of authorized shares)
In conclusion, Slate Corporation had 20,000 shares of Common Stock issued at a par value of $10 per share, resulting in a total value of $200,000.
The company still had 480,000 shares that could be issued based on the authorized shares of 500,000. The total value of the authorized shares is $5,000,000.
To know more about Stock visit:
https://brainly.com/question/25765493
#SPJ11
Requirement 1. Analyze the effects of these events on the accounting equation of the medical practice of Dr. Chris Evensen, P.C. Begin with the first transaction on March 6. (Use parentheses or a minus sign when decreasing accounts. If an input field is not used in the table leave the field empty, do not enter a zero. Enter the transactions in the same order as they appear in the original list.) Liabilities Assets - Accts Medical +Reo. + Supplies + Land = Stockholders' Equity Accts Note Common Retained Pay. + Payable + Stock + Earnings Type of Equity Transaction Cash More info Mar 6 145000 Mar 6 Evensen invested $145,000 in the business, which in turn issued its common stock to har Mar 9 The business paid cash for land costing $59,000. Evensen plans to build an office building on the land. 12 The business purchased medical supplies for $1,800 on account. Mar Mar Mar 15-31 15 Dr. Chris Evensen, P.C., officially opened for business. Requirements. During the rest of the month, Evensen treated patients and earned service revenue of $9,700, receiving cash for half the revenue eamed. Mar 15-31 1. Analyze the effects of these events on the accounting equation of the medical practice of Dr. Chris Evensen, P.C. The business paid cash expenses: employee salaries, $3,500; office rent, $800; utilities, $1,200. (Record the cash amount as a total and identify and record any other amounts separately.) 2. After completing the analysis, answer these questions about the business. Mar 31 The business sold supplies to another physician for cost of $500 and received cash. The business borrowed $31,000, signing a note payable to the bank. a. How much are total assets? Mar 31 b. How much does the business expect to collect from patients? Mar 31 The business paid $1,200 on account. c. How much does the business owe in total? d. How much of the business's assets does Evensen really own? e. How much net income or net lass did the business experience during its first month of operations? Print Done Print Done
a. Total assets are $210,650.
b. The business expects to collect $4,850 from patients.
c. The business owes a total of $1,800.
d. Evensen owns $145,000 worth of the business's assets (common stock).
e. The business experienced a net loss of $1,150 during its first month of operations.
How do the listed transactions affect the accounting equation of Dr. Chris Evensen, P.C.'s medical practice?To analyze the effects of the transactions on the accounting equation, let's go through each event step by step:
March 6:
Evensen invested $145,000 in the business, and common stock was issued.
Assets: +$145,000 (Cash)
Stockholders' Equity: +$145,000 (Common Stock)
March 9:
The business paid $59,000 in cash to purchase land.
Assets: -$59,000 (Cash), +$59,000 (Land)
March 12:
The business purchased medical supplies costing $1,800 on account.
Assets: +$1,800 (Accounts Receivable), +$1,800 (Medical Supplies)
March 15-31:
Dr. Chris Evensen, P.C., officially opened for business and earned service revenue of $9,700. Half of the revenue was received in cash.
Assets: +$4,850 (Cash, half of service revenue)
Stockholders' Equity: +$4,850 (Service Revenue)
March 15-31:
The business paid cash expenses: employee salaries of $3,500, office rent of $800, and utilities of $1,200.
Assets: -$5,500 (Cash)
Stockholders' Equity: -$3,500 (Salaries Expense), -$800 (Rent Expense), -$1,200 (Utilities Expense)
March 31:
The business sold supplies to another physician for the cost of $500 and received cash.
Assets: +$500 (Cash)
Stockholders' Equity: -$500 (Supplies Expense)
March 31:
The business borrowed $31,000, signing a note payable to the bank.
Assets: +$31,000 (Cash)
Liabilities: +$31,000 (Notes Payable)
Now let's answer the questions about the business:
a. Total assets = Cash + Accounts Receivable + Medical Supplies + Land
Total assets = $145,000 + $4,850 + $1,800 + $59,000 = $210,650
b. The business expects to collect $4,850 from patients (service revenue).
c. The business owes a total of $1,800 (Accounts Payable).
d. Evensen owns the business's common stock, which is $145,000.
e. To calculate net income or net loss, we need to consider the revenues and expenses:
Net Income = Total Revenue - Total Expenses
Net Income = $4,850 (Service Revenue) - $3,500 (Salaries Expense) - $800 (Rent Expense) - $1,200 (Utilities Expense) - $500 (Supplies Expense)
Net Income = $4,850 - $6,000 = -$1,150 (Net Loss).
Read more about accounting equation
brainly.com/question/28246336
#SPJ4
Which of the following is not among the developments associated with the Single Audit legislation that today is encompassed in Uniform Guidance? Select one:
a. Combining related OMB Circulars into one comprehensive document
b. Eliminating nonprofit organizations from these audit requirements
c. Threshold changes in amount and measurement from $100,000 federal awards received, ultimately to $750,000 federal awards expended.
d. Adding a risk-based approach to these audit engagements
2. Which of the following statements regarding the funding of governmental pension plans is not true?
Select one:
a. The GASB requires the funded ratio be reported as required supplementary information for each of the past 10 years.
b. Financial analysts should look to see if the government uses a high earnings rate assumption on plan investments because the higher the earnings assumption, the more likely it is that the plan will be well funded.
c. As a general rule, a funded ratio below 60 percent is considered to be "weak."
d. As a general rule, a funded ratio of 80 percent indicates that a pension plan to be reasonably funded.
Answer 1: Option B is the correct answer. There are a number of improvements that have been associated with Single Audit legislation, which is now included in Uniform Guidance. These are as follows:- The consolidation of associated OMB Circulars into a single, all-encompassing document.
Eliminating nonprofit organizations from the audit obligations.- Altering the threshold in terms of the amount and calculation from $100,000 in federal awards received to $750,000 in federal awards expended.- The addition of a risk-based method to audit engagements are among the advancements that have been made. Answer 2:Option B is the correct answer.There are a number of steps that financial analysts should take when analyzing the funding of governmental pension plans. Some of these measures are mentioned below:
They should search to see whether the government is using a high earning rate assumption on plan investments. Because the greater the earning assumption, the more probable it is that the plan will be well funded.As a general rule, a funded ratio of less than 60% is considered "weak."As a general rule, a funded ratio of 80% indicates that a pension plan is reasonably funded.However, the GASB does not mandate the funded ratio to be reported as required supplementary information for each of the previous ten years.
To know more about consolidation visit:
https://brainly.com/question/32261418
#SPJ11
Which of the following refers to no tax assessed on the earnings in the account in the year that the earnings are received? Tax-deferred earnings. Traditional IRA withdrawal. Pretax basis. O After-tax basis.
The correct answer is Tax-deferred earnings. No tax assessed on the earnings in the account in the year that the earnings are received refers to tax-deferred earnings.
A tax-deferred earnings is an investment in which taxes on certain transactions are delayed until a later time. In a tax-deferred investment, all capital gains, dividends, and interest payments are not taxed until withdrawn.
A tax-deferred investment may also provide tax deductions for certain contributions. These investments are usually in the form of individual retirement accounts (IRAs) or company-sponsored retirement plans.
Therefore, the correct answer is Tax-deferred earnings.
To know more about earnings visit:
https://brainly.com/question/30702029
#SPJ11
All of the following are nontraditional tools of monetary policy except O Buying long term bonds to influence mortgage rates.. O Bailing out Investment banks O C. Buying and selling of bonds thru open market operations Guaranteeing loans by banks for private businesses
All of the listed options are nontraditional tools of monetary policy except for "Guaranteeing loans by banks for private businesses."
he correct answer is "Guaranteeing loans by banks for private businesses." This is not a nontraditional tool of monetary policy. The other three options—buying long-term bonds to influence mortgage rates, bailing out investment banks, and buying and selling bonds through open market operations—are all examples of nontraditional tools used by central banks to implement monetary policy.
Buying long-term bonds to influence mortgage rates is a form of quantitative easing, where central banks purchase long-term bonds to lower interest rates and stimulate borrowing and economic activity. Bailing out investment banks refers to providing financial assistance to troubled financial institutions to prevent systemic risks and stabilize the financial system. Buying and selling bonds through open market operations is a traditional tool used by central banks to control the money supply and influence interest rates.
On the other hand, guaranteeing loans by banks for private businesses is not a direct tool of monetary policy. It falls more within the domain of fiscal policy or government programs aimed at supporting businesses and promoting economic growth rather than directly influencing the money supply or interest rates.
Learn more about monetary policy here:
https://brainly.com/question/32175013
#SPJ11
Here is the complete question:
All of the following are nontraditional tools of monetary policy except
Buying long term bonds to influence mortgage rates..
Bailing out Investment banks
Buying and selling of bonds thru open market operations
Guaranteeing loans by banks for private businesses
Organizational Design includes these key elements except...
A. Chain of command
B. Span of control
C. Formalization
D. Rules and policies
Organizational Design includes these key elements except rules and policies.The design of an organization is referred to as organizational design.
The different components and subcomponents of a company are set up and configured as a system in this process. This system aids in the development of a cohesive, efficient, and effective organizational structure. It is a method of developing or modifying the organizational structure that aids in achieving strategic goals.Organizational Design includes these key elements:Chain of command is a hierarchical organizational structure in which each employee, with the exception of the CEO, is responsible to one supervisor or boss.
This hierarchy also specifies the chain of control from the CEO or President to the lowest level employee.Span of control refers to the number of subordinates that a supervisor or boss is responsible for overseeing. It defines the maximum number of subordinates that a manager or supervisor can manage effectively.Formalization refers to the degree of written documentation and rules, guidelines, and procedures in an organization. It specifies how activities should be conducted, who is responsible for what tasks, and who reports to whom.Rules and policies are directives that explain how work should be performed and what behaviors are permissible and unacceptable in an organization. They assist in the development of uniformity and consistency in performance throughout the company.
To know more about Organizational Design visit:
https://brainly.com/question/28466649
#SPJ11
Suppose a perfectly competitive firm's total cost of production (TC) is TC(q) = 99 - 10q2 + 30q +5 + and the firm's marginal cost of production (MC) is MC(q) = 3q2 - 200 + 30 + The firm's short-run supply curve is given by A. P=02 - 100 + 30 for prices above $10 B. P = 392 - 200 + 30 for prices above $2.5. C. P=q2-109 +30 for prices above $5. OD P=02 - 10q +30 + 5 + q OE P=392-20 + 30 for prices above $5.
The short-run supply curve for the perfectly competitive firm can be represented by option B: P = 392 - 200 + 30 for prices above $2.5. This curve indicates that the firm will supply a positive quantity of output when the price exceeds $2.5.
The short-run supply curve reflects the marginal cost (MC) curve above the minimum average variable cost (AVC). In this case, the MC curve is given as MC(q) = 3q^2 - 200 + 30. The firm will produce and supply output as long as the price covers at least the marginal cost of production. Option B represents the short-run supply curve accurately, as it shows that the firm will supply output when the price exceeds the minimum level required to cover the variable costs. At prices below $2.5, the firm will not supply any output as it cannot cover its variable costs.
Learn more about short-run supply curves here:
https://brainly.com/question/13023505
#SPJ11
Following the interest rates trends that are presented in Table
1 from 2019 to 2024, discuss the monetary policy transmission
mechanism within the South African economy.
The monetary policy transmission mechanism within the South African economy refers to the process through which the monetary policy decisions of the South African Reserve Bank (SARB) affect the economy.
The transmission mechanism refers to how changes in the repo rate, the rate at which commercial banks borrow money from the SARB, filter through the financial system to impact on the economy at large. In South Africa, the repo rate serves as the key monetary policy tool used by the SARB to influence the economy. The SARB adjusts the repo rate to achieve its inflation target of between 3% and 6%.Table 1 shows that the repo rate decreased from 6.75% in 2019 to 3.5% in 2020 due to the COVID-19 pandemic. The lower repo rate led to a decrease in borrowing costs, which increased the demand for credit. Lower interest rates also led to a decrease in the cost of servicing existing debt, which increased consumer spending. This stimulated economic activity, increased aggregate demand, and supported economic growth.In 2021, the repo rate remained unchanged at 3.5%, and it is expected to remain at that level in 2022. The low-interest rates are expected to continue to stimulate economic activity and support economic growth. However, if inflationary pressures increase, the SARB may have to increase the repo rate to curb inflation. This may lead to an increase in the cost of borrowing, which could reduce consumer spending and investment, leading to a slowdown in economic growth.In conclusion, the monetary policy transmission mechanism within the South African economy works through changes in the repo rate, which affects borrowing costs, consumer spending, and investment. The repo rate is used by the SARB to achieve its inflation target of between 3% and 6%. The low-interest rates in 2020 and 2021 have supported economic growth, but if inflationary pressures increase, the SARB may have to increase the repo rate, which could reduce economic growth.
To know more about monetary policy visit:
https://brainly.com/question/32175013
#SPJ11
t-bills are financial instruments initially sold by ________ to raise funds. a) commercial banks b) the u.s. government c) state and local governments
T-bills are financial instruments initially sold by the U.S. government to raise funds. Treasury bills (T-bills) are one of several types of marketable securities that the United States government offers to investors to finance its operations.
'Treasury bills, like other marketable securities, are debt obligations of the federal government, with different maturity periods ranging from a few days to 52 weeks. Treasury bills are known for their low risk, high liquidity, and short maturity. They are often regarded as a risk-free investment since the federal government is unlikely to default on its debt obligations. As a result, T-bills have a lower yield than other securities since investors are willing to accept lower interest rates in exchange for the perceived security they provide.
To know more about investment refer :
https://brainly.com/question/1231328
#SPJ11
What is a continuous budget? O It is a budget that is constantly being revised as new information is gained. It is a budget that covers every aspect of the production process from the purchase of raw materials to the collection of revenue from sales It is a budget where the time period just completed is dropped and an equal future time period is added. It is a term used to describe a budget that is prepared by a budget committee that meets on a continuous basis
A continuous budget is a type of budget which is revised on a continuous basis as new information is gained. In the given options, option (a) is the correct answer.
It helps the business in controlling their expenses and profits effectively. This type of budget allows businesses to prepare a rolling forecast which means they can analyze the information that they gather and make necessary changes to the budget accordingly.
This type of budget is ideal for businesses where sales are volatile, and the profits fluctuate
.The concept of a continuous budgeting system was first introduced in the early 1920s. With the advent of computers, continuous budgeting has become more popular, as it is easier to make changes to the budget when new information is gained.
Usually, the continuous budget period is divided into smaller periods such as a quarter or a month. This helps in identifying the changes required for the next period and allows the businesses to take necessary corrective measures.
A continuous budget is a more flexible approach to budgeting as compared to traditional budgeting systems. It allows the businesses to react to the ever-changing economic environment.
Hence, Option (a) is the correct answer.
To learn more on budget:
https://brainly.com/question/29792126
#SPJ11
Consider the following table for a hypothetical economy in which the initial level of GDP (Y0) in all cases is 1000. Assume that real GDP grows according to the equation Y0(1 + growth rate)N, where N is the number of years in the future. Numbers are rounded to the nearest whole number.
Real GDP with Alternative Growth Rates
Year 1% 2% 3% 4%
0 1000 1000 1000 1000
1 1010
5
20
50
TABLE 25-1
Note: This question requires a calculator with an exponent function.
Refer to Table 25-1. What is real GDP in this economy in Year 20 if the annual growth rate is 4%?
Select one:
A. 836 683
B. 20 800
C. 8000
D. 80 000
E. 2191
The real GDP in this economy in Year 20, with an annual growth rate of 4%, is approximately 2191. The correct answer is E. 2191.
To calculate the real GDP in Year 20 with an annual growth rate of 4%, we can use the formula Y0(1 + growth rate)^N, where Y0 is the initial level of GDP, the growth rate is 4% (0.04), and N is the number of years (20).
Plugging in the values into the formula:
Real GDP = 1000(1 + 0.04)^20
Using a calculator with an exponent function, we can evaluate the expression:
Real GDP = 1000(1.04)^20 ≈ 2191
This calculation shows the compounding effect of economic growth over 20 years. Each year, the economy grows by 4% of the previous year's GDP, leading to an exponential increase in real GDP over time. In this case, starting from an initial GDP of 1000, the economy reaches approximately 2191 in Year 20.
It's important to note that this is a simplified calculation and does not take into account other factors that may influence GDP growth, such as fluctuations in investment, consumption, or government spending. Additionally, the actual growth of an economy is influenced by various complex factors and can vary significantly from the assumed growth rate used in this calculation.
To know more about real GDP, please click on:
https://brainly.com/question/28587972
#SPJ11
if apple chose instead to commit to an annual dividend from 2012-2017 think they could affect to distribute each year
Answer:
If Apple choose to distribute dividend for each year in the period of 2012 to 2017, the company would afford to pay $129 per share in the year 2012, because of the huge pile up of excessive cash on the balance sheet of the company.
If Apple chose instead to commit to an annual dividend from 2012-2017, the amount they could affect to distribute each year would depend on their earnings and financial condition. The dividend amount would be determined by the board of directors of Apple and would be based on various factors, including the company's financial performance, growth prospects, cash flow, and capital requirements.
Apple has been known to be cautious with its dividend payouts, as it prefers to retain earnings for future investment opportunities. However, the company has also been increasing its dividend payouts over the years, with the dividend per share increasing from $0.38 in 2012 to $0.82 in 2017.
It is important to note that dividend payouts are not guaranteed and can be subject to change based on various factors. Therefore, it is crucial for investors to consider the company's overall financial health and future growth prospects before making investment decisions.
For more question like Apple visit the link below:
https://brainly.com/question/19389823
#SPJ11
For the given cost=$212 and markup = $44, complete the following parts. a. Find the rate of markup based on cost. b. Find the selling price. www a. The rate of markup based on cost is%. (Round to the nearest tenth as needed.) b. The selling price is (Simplify your answer.) A lamp costs $36 and is marked up based on cost. If the lamp sold for $99, what was the percent of markup? The rate of markup is %
The percent of markup is approximately 175%. The selling price is $256.now, let's move on to the second question:
a lamp costs $36 and is marked up based on cost.
a. to find the rate of markup based on cost, divide the markup amount by the cost and multiply by 100:
rate of markup based on cost = (markup / cost) * 100
given:
cost = $212
markup = $44
rate of markup based on cost = (44 / 212) * 100 = 20.8% (rounded to the nearest tenth)
b. to find the selling price, add the markup to the cost:
selling price = cost + markup
selling price = $212 + $44 = $256 if the lamp sold for $99, we can find the percent of markup.
let's denote the rate of markup as x.
markup based on cost = x% of $36
selling price = $36 + markup based on cost
we know that the selling price is $99, so we can set up the equation:
$36 + (x/100) * $36 = $99
simplifying the equation:
36 + 0.01x * 36 = 99
36 + 0.36x = 99
0.36x = 99 - 36
0.36x = 63
x = 63 / 0.36
x ≈ 175
Learn more about amount here:
https://brainly.com/question/16629663
#SPJ11
Using one of the many financial apps (most of them free) that are available for your tablet or smartphone these days, you can become your own banker. In fact, trips to the bank or even to an ATM could soon become a thing of the past. The new apps let you do all the functions that you could do on a bank’s Web site and more. For example, to deposit a check into your banking account, you can simply take a photograph of the front and back of the check, after which the app will ask you for the amount you want to deposit. Then you type the account number and then press "OK" to complete the deposit. With the mint app (mint.com) from Intuit, you can even perform all sorts of analytics on your account. For example, you can establish a budget and keep track of the expenses in various categories such as food, gas and groceries. Another app that offers similar services is HelloWallet from hellowallet.com. Still other apps help you track and report work-related travel expenses. An example is an iPhone app called QuickShot. It allows you to take photos of your receipts, and the photos are automatically stored in an account on Dropbox, an internet file-storage service. Banks, brokerage firms and other financial institutions have developed their own apps that simplify their customers’ financial interactions with the institution.
Case study Questions: 2 – 1
1. Using your smartphone and a financial app, how do you deposit a check into your checking account? (2.5 marks).
2. Name some financial apps introduced in this case study (2.5 marks).
3. What are some examples of analytics that can be done using financial apps? (2.5 marks).
4. What are some other examples of financial apps? What are their applications? (2.5 marks).
Investment apps help users manage their investments and track their performance.
1. To deposit a check into your checking account using a smartphone and a financial app, you need to follow these steps:
Open the app and navigate to the check deposit feature.
Click on “deposit.”
Capture a photo of the front and back of the check using the app.
Enter the amount you want to deposit and select the account where you want to deposit the check.
Tap “submit” to deposit the check.
2. Some of the financial apps that are mentioned in the case study include:
Mint app from Intuit, HelloWallet from hellowallet.com, and QuickShot app for iPhone.
3. Some of the analytics that can be done using financial apps include establishing a budget, keeping track of expenses in different categories such as food, gas, and groceries, and tracking and reporting work-related travel expenses.
4. Other examples of financial apps include banking apps, brokerage apps, and investment apps. Banking apps allow users to access their bank accounts and make transactions, while brokerage apps enable users to buy and sell securities.
To learn more on Investment :
https://brainly.com/question/29547577
#SPJ11
under normal business operations, a company's accounts receivable department is responsible for...
Under normal business operations, a company's accounts receivable department is responsible for invoicing and collecting payments from customers. In this department, the accounting team creates invoices for goods or services that have been sold to customers and sends them out to those customers.
The accounts receivable department must ensure that the invoices are accurate and have been delivered to the correct recipients.Once invoices are sent to customers, the accounts receivable department monitors payment due dates to ensure that payments are received within the appropriate time frame. They also send payment reminders to customers who have overdue payments.
The accounts receivable department must work with customers who are unable to pay their invoices on time to create payment plans and make other arrangements to satisfy their outstanding debts.Accounts receivable departments maintain detailed records of customer transactions and payments. They reconcile accounts and resolve any discrepancies to ensure that all outstanding payments are accurately reflected.
Finally, they report any outstanding debts to the company's credit department to be pursued through legal means if necessary.
Learn more about Accounts receivable: https://brainly.com/question/24871345
#SPJ11
