Farmer Lane is currently earning a profit. Farmer Lane does anything to increase his profit in the short run by increasing his profit by producing more output. The correct option is D.
How can perfect competition maximize profit?A perfectly competitive firm maximizes profits at the intersection of its total cost and total revenue curves. The difference between total revenues and total costs is referred to as economic profit.
In the long run, there are no economic profits in a perfectly competitive market because the drivers of profits eventually cease to exist.
A perfectly competitive firm can sell as much as it wants as long as it accepts the market price. If a company increases the number of units sold at a given price, total revenue will rise. If the product's price rises with each unit sold, total revenue rises as well.
Thus, the ideal selection is option D.
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Final answer:
Farmer Lane can increase his profit by producing more output in the short run because his marginal cost of production is currently below the market price.
Explanation:
The student's question revolves around whether Farmer Lane can increase profits in the short run given that he operates in a perfectly competitive market, with a current market price for cotton at $1.64 per kilogram and a marginal cost of $1.44 per kilogram. Since the marginal cost is less than the market price, Farmer Lane can increase profit by producing more output up until the point where marginal cost equals the market price. Therefore, the correct answer is (d) can increase his profit by producing more output.
In a perfectly competitive market, firms are price takers and cannot increase profit by raising prices, so option (c) is invalid. Farmer Lane would not benefit from shutting down, as he is currently making a profit, which eliminates option (e). Without further information, we cannot determine if there are alternative strategies for profit maximization besides increasing output, which discounts option (b). Finally, since profits can still be raised by increasing production while marginal cost is below market price, option (a) is also not correct.
Effective knowledge sharing is most likely when employees ________. (a) believe knowledge management is mandatory (b) see knowledge sharing as an additional responsibility (c) view knowledge as a means to have power over others (d) have easy access to information within the context of their jobs
For many years, the Justice Department has tried to break up large firms like IBM, Microsoft, and most recently Google, on the grounds that their large market share made them essentially monopolies. In a global market, where U.S. firms compete with firms from other countries, would this policy make the same sense as it might in a purely domestic context?
Answer:
Explanation:
Short answer: No it would not make any sense at all.
It is doubtful that international courts would take such a task on. International courts seldom deal with civil issues.
Big companies like IBM need their size to compete internationally. China for one, South Korea (surprise), can give them a run for their money.
Answer and explanation:
It depends on the region. There are countries where such kind of innovations are not locally produced so they have no option but to adapt to what other countries can provide them. According to their local regulations and market conditions, they could start processes against those types of organizations.
On the other hand, some other regions produce similar domestic goods that are even more preferred than imports. There, the policies the example refers seem useless.
The change in period-to-period operating income when using variable costing can be explained by the change in the
Answer:
Unit sales level multiplied by a constant unit contribution margin.
Explanation:
The change in period-to-period operating income when using variable costing can be explained by the change in the Unit sales level multiplied by a constant unit contribution margin.
Hope this helps!
1. What is the amount of interest earned after two years on a $100 deposit paying 4 percent simple interest annually? $8.00 $4.08 $8.16 $4.00 2. What is the amount of compound interest earned after three years on a $100 deposit paying 8 percent interest annually? $24.00 $8.00 $16.64 $25.97 3. A business just took out a loan for $100,000 at 10% interest. If the business pays the loan off in three months, how much did the business pay in interest? $2,500.00 $10.00 $250.00 $10,000.00 4. What is the annual percentage yield (APY) for a deposit paying 5 percent interest with monthly compounding? 5.00% 5.12% 79.59% 0.42%
Answer:
$8.00$25.97$2500Explanation:
1. The amount earned each year is 4% × $100 = $4. After 2 years, the account has earned 2×$4.00 = $8.00.
__
2. If the account earned simple interest, it would earn 8% × $100 = $8.00 each year. After 3 years, the interest would total $24.00. Since the interest is compounded, the interest also earns interest and the total amount of interest is more than $24.00. The appropriate answer choice is $25.97.
__
3. If the business had taken a year to pay off the loan, it would have paid in interest ...
10% × $100,000 = $10,000
Since the loan was paid off in 1/4 year, the amount of interest paid is 1/4 that amount, so is
(1/4) × $10,000 = $2,500
What are two different types of transactions
Leisure Vacations is considering a 5-year project which will require the purchase of $1.4 million in new 5-Year MACRS equipment The MACRS rates are 20 percent, 32 percent, 19.2 percent, 11.52 percent, 11.52 percent, and 5.76 percent for Years 1 to 6, respectively. The firm desires a minimal 14 percent rate of return and the tax rate is 34 percent. The equipment can be sold at the end of the project for an estimated $225,000. What is the amount of the aftertax salvage value? Select one: a. $95,322.15 b. $162,418.54 c. $147,600.00 d. $175,917.60 e. $144,238.97
Answer:
The aftertax salvage value will be $175,917.60
Explanation:
The Modified Accelerated Cost Recovery System (MACRS) is the tax depreciation system in the United States.
aftertax salvage value:
When a company perform a sale of a long term asset, if the sales value is higher than the book value, it must pay taxes for the diference.
So this definition sets the formula:
( salvage - book value ) x tax rate = tax expense in the sale
so the salvage value after tax will be:
salvage value - tax expense
Resuming
salvage value - (salavage value - book value) x tax rate = after tax salvage value
Now moving to this particular question:
The assets is being sold at the end of the project, which menas at year 5. Using the MACRS you can determinate each year depreciation, you need to know the book value at the end of year 5
Year Rate Depreciation Expense Book Value
adquisition $1.400.000
1 20% $280.000 $1.120.000
2 32% $448.000 $672.000
3 19.2% $268.800 $403.200
4 11.52% $161.280 $241.920
5 11.52% $161.280 $80.640
6 5.76% $80.640 $-
We got that the book value at year 5 is $80.640 and we also know that the salvage value estimated is for $225,000 and the tax rate will be of 34%
Now we calculate with the previous formula:
225,000 - (225,000 - 80640) x 34% = $175,917.60
The desired rate of return is not used in this calculation because that is use to determinate if an investment can yield that rate. Here we work with the facts of how much will the asset will worth after the fifth year being the taxes paid. The 14% will be use to determinate wether it is convinient or not to do the project.
The aftertax salvage value can be calculated by determining the book value of the equipment and subtracting the tax liability on that value. The book value is calculated as the initial cost minus the accumulated depreciation, which is found using the MACRS rates. The tax liability is then computed by multiplying the gain or loss with the tax rate. Finally, the after-tax salvage value is obtained by subtracting the tax liability from the market value of the equipment.
Explanation:The after-tax salvage value can be calculated as the difference between the market value of the equipment and the tax liability on that value. To calculate the tax liability, we need to first calculate the book value of the equipment, which is the initial cost minus the accumulated depreciation. The accumulated depreciation is calculated using the MACRS rates. The book value at the end of Year 5 is equal to the initial cost minus the sum of the depreciation deductions for Year 1 to Year 5.
Let's calculate the aftertax salvage value:
Depreciation deductions for Year 1 to Year 5Year 1: 20% of $1.4 million = $280,000Year 2: 32% of $1.4 million = $448,000Year 3: 19.2% of $1.4 million = $268,800Year 4: 11.52% of $1.4 million = $161,280Year 5: 11.52% of $1.4 million = $161,280Accumulated depreciation at the end of Year 5:$280,000 + $448,000 + $268,800 + $161,280 + $161,280 = $1,319,360
Book value at the end of Year 5:$1.4 million - $1,319,360 = $80,640
Gain or loss:Market value of equipment - Book value at the end of Year 5:
$225,000 - $80,640 = $144,360
Tax liability:Tax rate x Gain or loss:
0.34 x $144,360 = $49,102.40
Aftertax salvage value:Market value of equipment - Tax liability:
$225,000 - $49,102.40 = $175,897.60
Therefore, the amount of the aftertax salvage value is $175,897.60 (option d).
2. Cathy started her own line of custom-made and hand-embellished wedding shoes. She opened up her own shop, paying $2500 as a one-time licensing fee. She used about $3000 in raw materials and made $3500. At the end of the first month, Carly, her sister, looked at her financials and told her that she was losing money and should shut down. Cathy is heartbroken. As an economics guru, what would you advise her to do?
I would explain to Cathy that her sister Carly is not right. When starting a business, there must be investments that will be amortized over time, that is, profit is not immediate. In the case of the shoe store, I would explain that the first month was positive, since the difference between the cost of the material and the production sold was + $ 500. Thus, Cathy amortized $ 500 of the licensing fee. So if this sales pattern is maintained, by the fifth month the entire investment will have been amortized and from the sixth month on, Cathy will begin to make a profit from your business.
The state troopers in one state have a motto, “Nine you’re fine; ten you’re mine,” which is the standard that they use for pulling over speeders on the state highways. In other words, if the posted speed limit is 55 mph, drivers can drive at a rate up to 64 mph without fear of getting a ticket. Which of the following best describes the ethical culture in the state? a. The troopers are following a standard of positive law. b. The troopers are following a normative standard. c. The troopers are following a headline test. d. The troopers are following the Blanchard/Peale standard.
Your question asks what the ethical culture of the state is.
Answer: B). The troopers are following a normative standardThe reason why the answer "B). The troopers are following a normative standard" is correct because this is the standard that the troops go by--for instance when they pull someone over.
The reason why it's a "normative" standard is because it is a norm that they go by, and the norm "Nine you’re fine; ten you’re mine" is normal to them.
Their motto "Nine you’re fine; ten you’re mine" means that when someone is going 9 mph over the speed limit, they're fine, but if they're going 10 mph over the speed limit, then they will get pulled over.
That's why in the text it says "if the posted speed limit is 55 mph, drivers can drive at a rate up to 64 mph without fear of getting a ticket", due to the fact that from 55 mph to 64 mph is only 9 mph above the speed limit. If the driver were to go 65 mph, then they will get pulled over.
To sum it up, it's just a "normative standard" for the state troopers to not give tickets to people going 9 mph over the speed limit, but only to those who go 10 mph over the speed limit.
I hope this helps!Best regards, MasterInvestorYou own a coffee shop and you hire a band to play popular songs to your patrons while they sip their morning coffee. Who enforces the performance rights if you have not paid for a license to the music played in the shop?
if theres a BMI and ASCAP select it
Which of the following distribution systems offers speed and reliability when emergency supplies are needed overseas?A. railroadsB. airfreightC. truckingD. pipelinesE. waterways
Your question asks which is a fast and reliable source for emergency supplies that are needed overseas.
Answer: B). AirfreightThe reason why answer choice "B). Airfreight" is the correct answer because this is the distribution system that is the quickest to get things overseas.
When you think about going overseas, what do you use? A plane. When you think about going somewhere international, what do you use? A plane. That is the same concept when you're sending things overseas, you would use some sort of air craft to get it overseas.
An airfreight is a really big air craft that can transport tons and tons of supplies, items, etc. An airfreight can go over the ocean and to its destination very quickly. The plane can go hundreds and hundreds of miles per hour for a long period of time. This is why people would use an air freight to deliver emergency supplies overseas.
Why the other answer choices are incorrect:Answer choice "A). railroads" is incorrect because railroads can't go overseas. Have you seen railroads built over the ocean? Absolutely not. Therefore, trains can't go over the ocean because there's no railroads built over the ocean. This is why this answer choice is incorrect.
Answer choice "C). trucking" is incorrect because there is no road over the ocean, therefore the travel path would be cut off for the trucks. In order for the trucks to go overseas, they would need to be transported on a boat, in which would take a long time. This is why this answer choice is incorrect.
Answer choice "D). pipelines" is incorrect because pipelines don't extend to places that are overseas, and pipelines would not be a safe thing to use to get emergency equipment distributed. This is why this answer choice is incorrect.
Answer choice "E). waterways" is incorrect because water ways are just water, large bodies of water to be exact. There is no transportation system in waterways, therefore making this answer choice incorrect.
I hope this helps!Best regards, MasterInvestorAirfreight is the most suitable option for fast and reliable overseas delivery of emergency supplies, thanks to its speed and connectivity to local distribution networks.
Among the options given, airfreight offers the most speed and reliability when emergency supplies are needed overseas. Airfreight can deliver goods quickly over long distances, and it is less likely to be affected by traffic jams, adverse weather affecting roadways, or the physical limitations of infrastructure like bridges and tunnels.
Airports also tend to be well-connected to local distribution networks, allowing for the efficient 'last mile' delivery in different geographic regions, which is essential when time is critical.
Utility refers to: a. the costs incurred for a training program. b. the usefulness of a training program. c. the benefits derived from training relative to the costs incurred. d. training effectiveness in terms of increased outcomes.
Answer:
C
Explanation:
Utility denotes the usefulness of a good or service; however, it could be the ability to gain or not to gain from a decision based on individual preferences. Utility is the want-satisfying "power" of any commodity or the capacity of a commodity to give satisfaction
Utility in business refers to the benefits derived from a training program relative to the costs incurred. The idea assesses the effectiveness and value of a program by considering improvements in employee performance and alignment with an organization's goals.
Explanation:Utility, in the context of training and development in business, often describes the benefits derived from a training program in relation to the costs incurred. This concept is a measurement of a program's effectiveness and worth. This is determined by whether the advantages or benefits gained from the training program outweigh the financial and time expenses involved. Utility considers factors like improved job performance and efficiency, employee retention, and the overall contribution to an organization's objectives and goals. Therefore, answer option c - the benefits derived from training relative to the costs incurred - is the most suitable choice.
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in order to compara and evaluate choices, there must be a set of____.
a. resources
b. decisions
c. consequences
d. none of the above
In order to compare and evaluate choices, there must be a set of none of the above!
Sunny~ ☺
Answer:
its D
Explanation:
In late December you decide, for tax purposes, to sell a losing position that you hold in Twitter, which is listed on the NYSE, so that you can capture the loss and use it to offset some capital gains, thus reducing your taxes for the current year. However, since you still believe that Twitter is a good long-term investment, you wish to buy back your position in February the following year. To get this done you call your Charles Schwab brokerage account manager and request that he immediately sell your 1,400 shares of Twitter and then in early February buy them back. Charles Schwab charges a commission of $4.95 for online stock trades and for broker-assisted trades, there is an additional $25 service charge, so the total commission is $29.95. a. Suppose that your total transaction costs for selling the 1,400 shares of Twitter in December were $59.95. What was the bid/ask spread for Twitter at the time your trade was executed? b. Given that Twitter is listed on the NYSE, do your total transaction costs for December seem reasonable? Explain why or why not. c. When your February statement arrives in the mail, you see that your total transaction costs for buying the 1,400 shares of Twitter were $47.95. What was the bid/ask spread for Twitter at the time your trade was executed? d. What are your total round-trip transaction costs for both selling and buying the shares, and what could you have done differently to reduce the total costs?
The bid/ask spreads for selling and buying the shares of Tw-itter can be calculated by subtracting the total transaction costs from the commission charges. The total transaction costs for December seem reasonable for a stock listed on the NYSE. The total round-trip transaction costs for both selling and buying the shares can be reduced by placing limit orders instead of market orders.
Explanation:a. To find the bid/ask spread, we can subtract the total transaction costs from the commission charges. So, the bid/ask spread for Twi-tter at the time of selling the shares in December would be $59.95 - $29.95 = $30.
b. The total transaction costs for December seem reasonable for a stock listed on the NYSE. The bid/ask spread of $30 is a common expense when trading in highly liquid stocks like Twi-tter.
c. To find the bid/ask spread for buying the shares in February, we subtract the total transaction costs from the commission charges. Hence, the bid/ask spread for Twit-ter at the time of buying the shares in February would be $47.95 - $29.95 = $18.
d. The total round-trip transaction costs for both selling and buying the shares would be $59.95 + $47.95 = $107.90. To reduce the total costs, you could have considered placing limit orders instead of market orders, which would allow you to set a specific price at which you want to buy or sell the shares, potentially reducing the bid/ask spread.
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Two students are discussing energy sectors in the United States. Student 1 claims that the commercial sector includes automobiles and churches. Student 2 agrees but also includes construction in the commercial list. Who is correct?
In the context of U.S. energy sectors, churches are included in the commercial sector but automobiles are part of the transportation sector. Additionally, construction is typically associated with the industrial sector. Hence, neither student is completely correct in their assertions regarding the inclusion of these entities in the commercial sector.
The discussion between the two students revolves around the definition of the commercial sector in the context of energy consumption in the United States. The assertion by Student 1 that the commercial sector includes churches is correct, as non-commercial entities like churches and government buildings fall under the commercial sector regarding energy use. However, Student 1's inclusion of automobiles is misplaced since automobiles are typically classified under the transportation sector, particularly private automobiles. On the other hand, Student 2's addition of the construction into the commercial list is inaccurate, as construction is more closely aligned with the industrial sector, which entails different energy use patterns and distinctive accounting of energy resources.
Figures and definitions from energy information sources reveal that the commercial sector encompasses various types of enterprises with unique patterns of energy consumption, and it is important to make distinctions between these sectors for accurate energy accounting and management. Therefore, neither student is completely correct in their assertions. The commercial sector is defined by its non-residential and non-industrial buildings and their energy use, with office and mercantile uses being predominant.
Natalie is teaching employees how to use the company’s new software needed for their jobs. The knowledge, skills, and abilities they are learning will help them succeed in their work. Natalie is providing _________ to employees.
Your question asks what Natalie is providing to the employees.
Answer: TrainingNatalie is teaching employees how to use the company’s new software needed for their jobs. The knowledge, skills, and abilities they are learning will help them succeed in their work. Natalie is providing training to employees.
The reason why "training" is the correct answer because Natalie is training the employees on how to use the new software that the company has. After she's done training them, the employees could possibly get the hang of the new software and go off on their own with the knowledge of how to use it.
This training would allow the employees the be successful at work, and get the knowledge they need to exceed the work's new software.
I hope this helps!Best regards,MasterInvestorThe campus bookstore sells 4,000 sets of graduation regalia each year. Placing an order from their supplier costs $25 regardless of order quantity, so they usually place a large order (a half year's supply) at a time. It costs $5 per year to hold a cap and gown in inventory, primarily insurance costs for the highly flammable material. What is their optimal order quantity?
Answer:
The optimal order quantity will be 200
Explanation:
The formula is the following:
[tex]\sqrt{\frac{2 * 4000 * 25}{5}} = 200[/tex]
[tex]\sqrt{\frac{2 * Demand* RequestCost}{HoldingCost}} = 200[/tex]
The Math involving how to reach this formula finds their base on differential analysis maths, so it is beyond the scope of the question.
Now, let's focus on what using this method does to the university if implement:
It is quite easy to calculate so if the cost change or the annual demand changes, then it will be easy to find the new optimal quantity
It is important to consider that the demand must be steady during the year. This method does not fit when there is seasonal demand for the product or if there are punctual buyers of high volume. The method also has a problem with the time to replenish the inventory, because it is assuming it happens instantly. Also, it is important to notice that the units purchase cost is not in the calculation, so if a higher purchase volume gets discounts, it is not in being considered in this formula.
So resuming,
easy and quick way to determinate an order quantitydo not consider a discount for a larger purchasedo not consider if there is seasonal demand or large buyersdo not consider the travel time between requestsThe formula you should remember in case to calculate the cost will be this:
Total cost= cost to order + Cost of inventory
In this case will be cost to order = 20 request (4000 demand / 200 order) *$25 each = 500
cost of inventory = 200 * 5 = $1000
Total of $1,500
The campus bookshop sells 4,000 sets of graduation regalia each year. The optimal order quantity will be 200.
What is the optimal order quantity?The amount of inventory that a company should have on hand at any one time that is most cost-effective is called the optimal order quantity. Simply put, this figure shows the amount of stock an organization should order meeting demand without using up too much working capital.
The economic order quantity (EOQ) or the optimal order quantity is the amount of inventory that a company should order in order to meet demand while reducing overall ordering, receiving, and holding expenses.
Computation of optimal order quantity (EOQ):
EOQ = square root of [2(setup costs)(demand rate)] / holding costs.
EOQ = square root of [2×4000×25/5]
EOQ = 200
Therefore, the optimal order quantity 200.
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On July 7, you purchased 500 shares of Wagoneer, Inc. stock for $21 a share. On August 1, you sold 200 shares of this stock for $28 a share. You sold an additional 100 shares on August 17 at a price of $25 a share. The company declared a $0.95 per share dividend on August 4 to holders of record as of Wednesday, August 15. This dividend is payable on September 1. How much dividend income will you receive on September 1 as a result of your ownership of Wagoneer stock
Answer:$190 total
Explanation: most of the information is trying to throw you off what matters is that you sold in total 300 of your 500 shares and are left with 200 shares. If you times that by the amount per share you get 0.95 you end up with your amount by the day of $190. Hopes this helps!
Which steps would you take to determine how much an employee should be paid? Select all that apply. Determine the number of hours the employee was scheduled to work. Determine the number of hours the employee worked. Determine whether the employee worked overtime hours. Determine whether any of the days worked are holidays that receive holiday overtime payment rates. Determine the hourly rate this employee earns. Determine whether this is a new employee.
Explanation:
An employee should be paid for the number of hours he worked in the organization and the number of hours he worked overtime for the company. Also if the employee has worked for company on holidays, he should be paid overtime allowance for that.
So according to the above criteria, the following options are appropriate determinants of how much should an employee be paid.
Determine the number of hours the employee workedDetermine whether the employee worked overtime hoursDetermine whether any of the days worked are holidays that receive holiday overtime payment rates.So these above mentioned options determine how an employee should be paid.
Answer:
Determine the number of hours the employee worked.
Determine whether the employee worked overtime hours.
Determine whether any of the days worked are holidays that receive holiday overtime payment rates.
Determine the hourly rate this employee earns.
Explanation:
In the context of web marketing the _____ is computed by dividing the number of clicks on an ad
Tiptoe Shoes had annual revenues of $190,000, expenses of $106,200, and dividends of $20,000 during the current year. The retained earnings account before closing had a balance of $302,000. The entry to close the Income Summary account at the end of the year, after revenue and expense accounts have been closed, is:?
The revenue and expense accounts are closed at the end of the year, an entry is made to shut the income summary account is $83800. Thus, option (B) is the correct answer.
During an accounting period, all revenue and cost accounts from the income statement are moved into a temporary account called the income summary account.
Income/Lose
= Total revenue- Total Expenses.
= $190000 - $106200
= $83200
Income = $83200
Income transferred to Retained Earnings
Income Summary A/c (Dr)= $83800 Retained Earning (Cr)= $83800Thus, option (B) is correct Answer:
Debit income summary $83500
Credit Retained Earning $83800
Therefore, The revenue and expense accounts are closed at the end of the year, an entry is made to shut the income summary account is $83800. Thus, option (B) is the correct answer.
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The given question is incomplete, this is the complete question:
Tiptoe Shoes had annual revenues of $190,000, expenses of $106,200, and dividends of $20,000 during the current year. The retained earnings account before closing had a balance of $302,000. The entry to close the Income Summary account at the end of the year, after revenue and expense accounts have been closed, is:?
Group of answer choices:
a) Debit Retained earnings $83,800, credit Income Summary $83,800
b) Debit Income Summary $83,800, credit Retained earnings $83,800
c) Debit Retained earnings $63,800; credit Income Summary $63,800
d) Debit Income Summary $63,800; credit Retained earnings $63,800
e) Debit Retained earnings $302,000; credit Income Summary $302,000
Which of the following is an element of inventory holding costs? A. material handling costs B. investment costs C. housing costs D. pilferage, scrap, and obsolescence E. All of the above are elements of inventory holding costs.
Answer:
All of the above are elements of inventory holding costs.- E.
Material handling costs, housing costs, investment costs, pilferage, scrap, and obsolescence are all components of inventory holding costs. Option E is correct.
What is inventory holding costs?Inventory holding costs are defined as the fees that are incurred when inventory is put in a warehouse.
Inventory holding costs include rent for space, security, depreciation, and insurance. Inventory holding costs include material handling costs, housing costs, investment costs, pilferage, scrap, and obsolescence.
Therefore, option E is correct.
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If the demand curve for a good always has unitary price elasticity, what does this imp about consumer behavior? A) Consumers do not react to a price change. B) Consumers will spend a constant total amount on the good C) Consumers are irrational D) Consumers do not obey the Law of Demand.
Hello There!
This tells us that consumers will spend a constant total amount on the good
HAVE A GREAT DAY!
Thom owes $6,200 on his credit card. The credit card carries an APR of 17.9 percent compounded monthly. If Thom makes monthly payments of $200 per month, how long will it take for him to pay off the credit card assuming that he makes no additional charges?
Final answer:
To determine the time it will take Thom to pay off his $6,200 credit card debt at 17.9% APR with $200 monthly payments, an amortization formula or financial calculator is required. The calculation involves understanding both the effects of monthly compounding interest and how each payment is split between interest and principal repayment.
Explanation:
To find out how long it will take Thom to pay off a $6,200 credit card debt with a 17.9% APR compounded monthly and making $200 payments per month, we need to use the formula for the amortization of a loan. Calculating this requires either the use of a financial calculator, a loan amortization spreadsheet, or the application of the appropriate mathematical formula. Since the APR is given as an annual rate but compounded monthly, we will need to convert the annual rate to a monthly rate by dividing it by 12. Then, we need to set up the amortization formula to solve for the number of payments required to pay off the debt.
Taking into account the compounding interest each month, it is not a simple division of the total debt by the monthly payment. The compound interest will add to the balance each month, while part of each $200 payment will go towards paying off the interest, with the remainder paying down the principal.
As this is a complex calculation that typically requires financial functions not available without a calculator or spreadsheet, the exact number of months is not provided here, but the general approach has been outlined to assist in understanding the steps involved in such a calculation.
On October 10, Jayson Company receives an order for a $700 TV which it will deliver to the customer on October 17. The customer pays the full amount in cash at the time of the order. Besides recording the receipt of $700 cash, what else should Jayson record on October 10?
a. Record $700 revenueb. Record some of the $700 as revenue now and the rest on delivery of the TV
c. Record a $700 liability d. Make no record at this time; record revenue and receipt of cash on delivery of TV
Answer:
C.
Explanation:
It is the company's liability until the customer takes posession.
Answer:
Option "C" is the correct answer to the following statement
Explanation:
In the following situation, Jayson Company should record a liability of $700 until the customer gets his or her TV.
the customer gives order and full payment to Jayson Company of $700 on October 10 and receive his or her order on October 17.
So, $700 is a liability for Jayson Company and assets for the customer.
2. A box contains 50 slips of paper. Forty of the slips are marked $0, 8 of the slips are marked $20, 1 slip is marked $100, and the last one is marked $500. Find the expected net winnings of a person who pays $10 to randomly select one slip of paper. Interpret.
Explanation and answer:
If if the possible outcomes are xi, and the corresponding probability is pi, where i is one of the N events, then the expectation [E] is given by
[E] = sum (xi*pi)
In the given case, n= frequency of the event, N=50=total number of events
i n xi pi n*xi*pi
1 40 0 40/50 40*0*40/50 = 0
2 8 20 8/50 8*20/50 = 3.20
3 1 100 1/50 1*100/50 = 2.00
4 1 500 1/50 1*500/40= 10.00
Total (expected gross winning) = 15.20
Person has already paid $10,
so the expected net winning = 15.20 - 10 = 5.20
In a large number of games, on average, a player who pays $10 to randomly select a slip from the box in question can expect to win $5.20 per game.
Explanation:This question relates to the mathematical concept of expected value, which is a key idea in statistics and probability. In the context of this box game, we need to consider each possible outcome and its associated probability. The associated value is the amount of money on the slip minus the cost to play, which is $10.
So, considering each scenario:
There's a 40/50 chance of drawing a $0 slip, which means a loss of $10, yielding an expected value of 40/50*(-$10) = -$8.8/50*$10 = $1.60 from the $20 slips.1/50*$90 = $1.80 for the $100 slip ($100 minus the cost of play).1/50*$490 = $9.80 for the $500 slip.Adding these together, the overall expected net winnings (or more accurately, losses) per game played would be -$8 + $1.60 + $1.80 + $9.80 = $5.20. Thus, if played a large number of times, on average, a player would expect to win $5.20 per game, despite the fact that the most likely individual outcome on any given draw is a loss of $10. This happens due to the high winnings when the rare event of drawing a $500 slip occurs which increases the overall expected value of the game.
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James owns two houses. He rents one house to the Johnson family for $10,000 per year. He lives in the other house. If he were to rent the house in which he lives, he could earn $12,000 per year in rent. How much do the housing services provided by the two houses contribute to GDP? A. $0 B. $10,000 C. $12,000 D. $22,000
Real Losers, a diet magazine, collected $360,000 in subscription revenue in May. Each subscriber will receive an issue of the magazine for each of the next 12 months, beginning with the June issue. The company uses the accrual method of accounting. By the end of December, how much Subscription revenue has been earned?
Answer: the correct answer is $210,000. The months is which the service was given were June, July, August, September, October, Nevember, December. The total service is $360,000 which means it is $30,000 monthly. (360,000 divided by 12). $30,000 times 7 months is $210,000.
Explanation: If a company is using the accrual basis accounting method it has to record its earned revenue when services are rendered, even though cash may be received at a later date..
By the end of December, how much Subscription revenue has been earned is $210,000
Given:
Based on the information given each of the subscriber will receive an issue of the magazine for each of the next 12 months starting with the June .
June to December=7 months
Subscription revenue=$360,000
Now let how much Subscription revenue has been earned
Subscription revenue=$360,000×7months/12 months
Subscription revenue=$210,000
Inconclusion By the end of December, how much Subscription revenue has been earned is $210,000.
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What type of skills requires defining problems and selecting the best course of action to take
Problem Solving Skills
Hope that helped you!
Answer:
Problem solving skills
Explanation:
When a person has problem solving skills, this means that the person is particularly good at defining problems and selecting the actions that will allow him to deal with these effectively. It is important for a person to develop good solving skills. These are useful in many different contexts, including school, home and the workplace.
The band estimates it will use this equipment for four years, during which time it anticipates performing about 200 concerts. It estimates that after four years it can sell the equipment for $2,000. During year 2008, the band performs 45 concerts. Assume that Cerritos Band chose straight-line depreciation but realizes early in the second year that due to concert bookings beyond expectations, this equipment will last only a total of three years. The salvage value remains unchanged. Compute the revised depreciation for the second year. Book value at point of revision $ Remaining depreciable cost $ Depreciation per year for year 2 $
Answer:
There are several question
Explanation:
You do not provide the equipment adquisition value.
I will help you with this incomplete question, by giving you the procedure to reach the answers of your problem:
The information about concerts is not useful to determinate the straight-line depreciation, so you will ignore that part, on striaght-line you must focus on the espected life of the long-term asset, the adquisition value and the salvage value.
For depreciation expense for year 1.
You will do (adquisition value - salvage value ($2,000)) /4 years
The first part means, the ammount from which the band purchase the equipment, less the ammount they can sell it at the end of his useful life. This will be the ammount subject to depreciation.
Last part will be to divide this by the useful life in year.
Book value at the moment of revision will be:
book value = adquisition value - acumulated depreciation
Were the acumulated depreciation will be sum of the depreciation expense over the years. In this case we only have 1 depreciation so it will be
acumulated depreciation: dep expense year 1
Remaining depreciable cost at year 1 will be:
amount subject to depreciation - acumulated depreciation
remember that amount subject to depreciation will be:
adquisition value - salvage value
and the acumulated depreciation is the sum of the depreication of each year.
For depreciation expense for year 2
Then you will do (adquisition value - salvage value) / 3 years
Because the expected life decrease this value will be higher than year 1
Heidi, the founder of Camp Bow Wow, proves herself to be a leader as she asks her employees for suggestions and inputs before making decisions. In the given context, Heidi demonstrates _____.
Answer: the correct answer is Consideration
Explanation:
Heidi, the founder of Camp Bow Wow, proves herself to be a leader as she asks her employees for suggestions and inputs before making decisions. In the given context, Heidi demonstrates consideration.