Answer:
A) 25%
Explanation:
Just got it right on edge
Mark works for a financial company. He has been tasked to protect customer data. He decides to install a mantrap and an HVAC system in the data center. Which of the following concepts has he addressed?
A. Availability.
B. Integrity.
C. Confidentiality.
D. Recovery.
E. Accountability.
Answer:
a
c
Explanation:
Rodgers Company gathered the following reconciling information in preparing its May bank reconciliation.
Calculate the adjusted cash balance per books on May 31.
Cash balance per books, 5/31 $3,170
Deposits in transit $215
Notes receivable and interest collected by bank $955
Bank charge for check printing $43
Outstanding checks $1,152
NSF check $173
A. $1,170
B. $3,015
C. $3,909
D. $2,233
Answer:
C. $3,909
Explanation:
Calculation for the adjusted cash balance per books on May 31.
Cash balance per books, 5/31 $3,170
Add Notes receivable and interest collected by bank 955
Less Bank charge for check printing ($43)
Less NSF check ($173)
Adjusted cash balance per books on May 31 $3,909
Therefore the adjusted cash balance per books on May 31 will be $3,909
Complete the steps you will use to create a document using a word processor.
Pick an existing template
Format the fonts of the text as required
Use Save As to save the document with
an appropriate name.
Open your word processing application.
Replace the placeholders with text and
images.
Answer:
open word app
pick template
format font
replace placeholders
save as
Explanation:
both font and changing placeholders can be interchangable. I prefer to have the font right at the start.
Determine the number of cycles per day and the production quantity per cycle for this set of vehicles:
Product /Daily Quantity
A, 20
B ,12
C, 4
D, 16
Determin the number of cycles.
Answer:
the number of cycles is 4
Explanation:
The computation of the number of cycles are presented below;
Product Daily Quantity Daily unit per cycle
A 20 20 ÷ 4= 5
B 12 12 ÷ 4= 3
C 4 4 ÷ 4= 1
D 16 16 ÷ 4= 4
hence, the number of cycles is 4
An internal study by the Technology Services department at Lahey Electronics revealed company employees receive an average of two emails per hour. Assume the arrival of these emails is approximated by the Poisson distribution.
a. What is the probability Linda Lahey, company president, received exactly 1 email between 4 P.M. and 5 P.M. yesterday?
b. What is the probability she received 5 or more emails during the same period?
c. What is the probability she did not receive any emails during the period?
Answer:
0.2706 ; 0.05265 ; 0.1353
Explanation:
Given that :
λ = 2
According to the poisson distribution formula :
P(x = x) = (λ^x * e^-λ) / x!
P(x = 1) = (2^1 *e^-2) / 1!
P(x = 1) = (2 * 0.1353352) = 0.2706
P(x ≥ 5) = 1 - P(x < 5)
1 - P(x < 5) = 1 - [p(x = 0) + p(x = 1) + p(x = 2) + p(x = 3) + p(x = 4)]
We obtain and add the individual probabilities. To save computation time, we can use a poisson distribution calculator :
1 - P(x < 5) = 1 - (0.13534+0.27067+0.27067+0.18045+0.09022)
1 - P(x < 5) = 1 - 0.94735 = 0.05265
P(x ≥ 5) = 1 - P(x < 5) = 0.05265
Probability that no emails was received :
x = 0
P(x = 0) = (2^0 *e^-2) / 0!
P(x = 0) = (1 * 0.1353352) / 1 = 0.1353
Holly Company has the following information for December 1 to December 31. All direct materials are 100% complete.
Beginning balance December 200 units, 20% complete for conversion $14,000
Completed 800 units and transferred to finished goods inventory $131,182
Direct materials 54,000
Direct labor 34,000
Factory overhead Property taxes 6,000
Depreciation 32,000
Utilities 18,000
Indirect labor 4,000
Ending balance December 31, 300 units, 40% complete 30,818
Required:
Calculate equivalent units using the weighted-average and FIFO methods.
Answer:
Weighted Average : Materials = 1,100 units, Conversion Costs = 920 units
FIFO : Materials = 1,100 units, Conversion Costs = 1,260 units
Explanation:
Weighted Average
Materials
Ending Work In Process (300 ×100 %) = 300 units
Completed and Transferred (800 ×100 %) = 800 units
Equivalent units in respect to materials = 1,100 units
Conversion Costs
Ending Work In Process (300 ×40 %) = 120 units
Completed and Transferred (800 ×100 %) = 800 units
Equivalent units in respect to conversion costs = 920 units
FIFO
Materials
To finish Opening Work in Process (200 × 0%) = 0 units
Started and Completed (800 × 100%) = 800 units
Ending Work in Process (300 × 100%) = 300 units
Equivalent units in respect to materials =1,100 units
Conversion Costs
To finish Opening Work in Process (200 × 80%) = 160 units
Started and Completed (800 × 100%) = 800 units
Ending Work in Process (300 × 40%) = 300 units
Equivalent units in respect to materials =1,260 units
An office's computers are connected in a mesh topology. How many cables are required to connect four computers to each other?
Vicky Torres and Juanita Alva were the first in line at Best Buy during a Black Friday sale so that they could secure a large-screen TV, which was normally $499 and was advertised on sale at $199. Because they arrived three weeks early, they ended up waiting in line for a total of 500 hours! The authors of your textbook found their choice puzzling because of the high opportunity cost in this scenario. The authors say: "Saving $300 by spending 500 hours makes Vicky and Juanita's time worth 60 cents an hour. They could have spent 30 hours working an extra job at $10 an hour and each earned enough money to purchase the TV at full price-and still had 470 hours to do other things. In short, they don't seem to have been aware of the opportunity cost of waiting in line." But this is not the only conclusion one can draw from Vicky and Juanita's behavior. Choose the conclusion below that would be consistent with the idea that Vicky and Juanita were aware of the opportunity costs yet still found the three-week-wait to be worthwhile.
a. "However, they might have enjoyed the experience of camping out in line, meeting other customers, and gaining a degree of fame for their commitment to getting a good deal."
b. "Vicky and Juanita really enjoy their high paying jobs and don't like camping at all."
c. "If they are able to camp out for three weeks, they probably do not have full-time jobs, so earning 60 cents an hour is a good decision for the shoppers."
Answer:
a. "However, they might have enjoyed the experience of camping out in line, meeting other customers, and gaining a degree of fame for their commitment to getting a good deal."
Explanation:
Opportunity costs refer to the extra costs or benefits lost associated with choosing one activity or investment over another alternative. In other words, every activity that you carry out includes the opportunity cost of not doing something else. Vicky and Juanita obtained more than just the $300 discount, they also met new people and a little bit of fame.
In Year 1, in a project to develop Product X, Lincoln Company incurred research and development costs totaling $10 million. Lincoln is able to clearly distinguish the research phase from the development phase of the project. Research-phase costs are $6 million, and development-phase costs are $4 million. All of the IAS 38 criteria have been met for recognition of the development costs as an asset. Product X was brought to market in Year 2 and is expected to be marketable for 5 years. Total sales of Product X are estimated at more than $100 million.
Required:
a. Determine the impact research and development costs have on Lincoln Company's Year 1 and Year 2 income under (1) IFRS and (2) U.S. GAAP.
b. Summarize the difference in income, total assets, and total stockholders' equity related to Product X over its five-year life under the two different sets of accounting rules.
Answer:
Answer is explained in the explanation section below.
Explanation:
Data Given:
Research and Development Cost = $10 million
Research Phase Cost = $6 million
Development Cost = $4 million
Total Sales of Product X are estimated at more than = $100 million
Solution:
a.
1. IFRS:
Research cost of $6 million have been expensed in year 1 in case of IFRS.
Whereas, for year 2 developmental cost is reported as assets and amortization is recorded on the asset which is the 5th part of the developmental cost of $4 million.
$4,000,000/5 = $800,000
2. U.S. GAAP:
Under U.S. GAAP in year 1, total of $10 million have been expensed including both research and development cost.
Under U.S. GAAP in year 2, however, there is no asset reported and all the costs are expensed in year 1 hence, no impact on the income statement.
b.
Income: In year 1 under IFRS, income will be higher by $4 million ($10-$6)million before the implication of tax.
But for year 2 to year 5:
In case of IFRS, income will be lowered due to the amortization on the deferred development cost. It will decrease by $800,000.
The total assets and stock holder's equity under IFRS will be higher by the following amounts each of the years.
Year 1 $4,000,000
Year 2 $3,200,000
Year 3 $2,400,000
Year 4 $1,600,000
Year 5 $800,000
The above amount is decreased by $800,000 each year because of the amortization of asset.
Which of the following provides a statistical representation of survey data?
O diagram
O table
O graph
O chart
Answer:
it is diagram
Explanation:
The answer is:
table(Trust me)
As you learned more and more about the complexity of the HRM role, what do you view as the most challenging aspect of HRM in the international context? How do you view the impact of expatriates on your role in HRM?
Answer:
The interpretation including its question would be characterized in the explanatory segment elsewhere here.
Explanation:
(a)
The cultural divide is perhaps the most compelling as that of the complexities of corporation dramatically change in something like a foreign environment. Besides example, a thumbs-up gesture, which would be a complimentary sign throughout the West as well as the US, seems to have a different meaning in several other cultural groups and therefore is construed as bad-mannered throughout Asian countries like Thailand, whereby the significance has been less than that of trying to stick someone's hard to both the West.(b)
The negative effect of ex-pats mostly on the position of HRM would be that individuals start making the importance of HRM so much enlightening. The HR seems to be essential for safeguarding expatriates and then for the HR to safeguard foreign nationals, this should understand the ways of foreign residents such that the HR could even start educating other staff mostly on cultural values of migrants.You want to purchase your first house. A conventional mortgage will require a credit score of approximately 630. Your credit score is 560. You need to increase it by 70 points to get to 630. If you increase your score by 12% per year, how many years will it take to lift your score to 630?
Answer:
1.1 years
Explanation:
The currents credit score is 560
the credit score is increasing by 12% per year is
=12% of 560
=12/100 x 560
=0.12 x 560
=67.2
The required increase is 70 points
the years it will take = 70 points /67.2 points
=1.041 years
= 1 year and one month
What is liability? its a study question and i need the answer so i can pass my class
Answer:
the state of being responsible for something, especially by law.
Explanation:
So if you're a liability to someone they are responsible for you. Usually a bad thing like your dead weight.
Consider a two-good world: good x and good y. The ICC (income consumption curve) between good x and good y has a negative slope and the Engle curve of good x has a positive slope. Which of the following statements is false?
a. Good x is a normal good.
b. Goody is an inferior good.
c. The Engle curve for good y has a negative slope.
d. The income elasticity for good y is negative.
e. none of the above.
Answer: none of the above.
Explanation:
The Engle curve shows the relationship that takes place between the income of a consumer and the quantity of a particular good purchased.
From the question we are informed that the income consumption curve between good x and good y has a negative slope, this implies that good Y is an inferior good and that it has a negative income elasticity.
Also, since the Engle curve of good X has a positive slope, it implies that good X is a normal good.
Therefore, the answer to the question is "none of the above" as all options are true.
E2-7 (Assumptions, Principles, and Constraint) Presented below are a number of operational guidelines
and practices that have developed over time.
Instructions
Select the assumption, principle, or constraint that most appropriately justifies these procedures and practices.
(Do not use qualitative characteristics.)
(a) Fair value changes are not recognized in the accounting records.
(b) Financial information is presented so that investors will not be misled.
(c) Intangible assets are capitalized and amortized over periods benefited.
(d) Repair tools are expensed when purchased.
(e) Agricultural companies use fair value for purposes of valuing crops.
(f) Each enterprise is kept as a unit distinct from its owner or owners.
(g) All significant post-balance-sheet events are reported.
(h) Revenue is recorded at point of sale.
(i) All important aspects of bond indentures are presented in financial statements.
(j) Rationale for accrual accounting.
(k) The use of consolidated statements is justified.
(l) Reporting must be done at defined time intervals.
(m) An allowance for doubtful accounts is established.
(n) Goodwill is recorded only at time of purchase.
(o) A company charges its sales commission costs to expense.
Answer:
(a) Fair value changes are not recognized in the accounting records.
Category: Principle
Name: Measurement principle
(b) Financial information is presented so that investors will not be misled.
Category: Principle
Name: Full disclosure principle
(c) Intangible assets are capitalized and amortized over periods benefited.
Category: Principle
Name: Expense recognition principle
(d) Repair tools are expensed when purchased.
Category: Constraint
Name: Material constraint
(e) Agricultural companies use fair value for purposes of valuing crops.
Category: Principle
Name: Measurement principle
(f) Each enterprise is kept as a unit distinct from its owner or owners.
Category: Assumption
Name: Economic entity assumption
(g) All significant post-balance-sheet events are reported.
Category: Principle
Name: Full disclosure principle
(h) Revenue is recorded at point of sale.
Category: Principle
Name: Revenue recognition principle
(i) All important aspects of bond indentures are presented in financial statements.
Category: Principle
Name: Full disclosure principle
(j) Rationale for accrual accounting.
Category: Principle
Name: Expenses recognition principle and revenue
(k) The use of consolidated statements is justified.
Category: Assumption
Name: Economic entity assumption
(l) Reporting must be done at defined time intervals.
Category: Assumption
Name: Periodicity assumption
(m) An allowance for doubtful accounts is established.
Category: Constraint
Name: Conservatism constraint
(n) Goodwill is recorded only at time of purchase.
Category: Principle
Name: Measurement principle
(o) A company charges its sales commission costs to expense.
Category: Principle
Name: Expenses recognition principle
What is the best definition of marginal cost?
the possible income from producing an additional item
the price of producing one additional unit of a good
the additional income gained from selling an additional good
the financial gain from business activity minus expenses
Answer:
B
Explanation:
100% ed genuity
The best definition of marginal cost is B. the price of producing one additional unit of a good or service.
What is marginal cost?The marginal cost or variable cost is the change in the total production cost resulting from producing one additional unit.
The marginal cost can be computed by dividing the total cost by the total quantity.
Thus, the best definition of marginal cost is Option B.
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Because of specialization and comparative advantage, most people:_______
a. consume the products produced by their family and friends.
b. consume the products of many other specialists.
c. consume only what they produce themselves.
d. do not use money as a medium of exchange.
e. share whatever they produce
Answer:
B
Explanation:
A country (people) has comparative advantage in production if it produces at a lower opportunity cost when compared to other countries (people).
According to economic theory, a person should specialise in the production of goods for which it has a comparative advantage.
If a person specialises only in the production of goods he specialises, he would not to buy other goods from specialists since she does not produce all the goods
The revenues and expenses of Paradise Travel Service for the year ended May 31, 2018, follow: Accounts Fees earned $809,500 Office expense 295,200 Miscellaneous expense 10,600 Wages expense 450,900 Everett McCauley invested an additional $37,600 in the business in exchange for common stock, and $15,600 of dividends were paid during the year. Retained earnings as of June 1, 2017, was $340,000.
Required:
Prepare a retained earnings statement for the year ended May 31, 2018.
Answer:
$377,200
Explanation:
Preparation for a retained earnings statement for the year ended May 31, 2018
First step is to calculate the Net income
Net income During The Year
Accounts Fees earned $809,500
Less Office expense 295,200
Miscellaneous expense 10,600
Wages expense 450,900
Net Income $52,800
Second step is to calculate the Change In Retained Earnings
Dividends $15,600
Net Income $52,800
Change In Retained Earnings $37,200
($52,800-$15,600)
Now let calculate retained earnings statement
Beginning retained earnings $340,000
Add Change In Retained Earnings $37,200
($52,800-$15,600)
Retained Earning May 31, 2018 $ $377,200
($340,000+$37,200)
Therefore the retained earnings statement for the year ended May 31, 2018 is $377,200
While managing political
behaviours
in organization, the manager
requires discouraging:
Select one:
a. Dialogue
b. Negotiation
c. Relationships
d. Self interest
= Self interest
Answer:
You are right it is D
Explanation:
Having Self Intrest will cause selfishnes while doing political things.
Assume that Nevermore, Inc., a U.S.-based subsidiary wants to raise $US 1 million by issuing a bond denominated in Pakistani rupees (PKR). The current exchange rate of the rupee is $.02
How many PKR does the MNC need to obtain the $US 1 million needed?
Answer: 50,000,000 Pakistani rupees (PKR)
Explanation:
The company wants to raise enough money in Pakistani rupees to match a million American dollars.
The rate is a Rupee to $0.02.
A million dollars will be:
= 1,000,000/0.02
= 50,000,000 Pakistani rupees (PKR)
Which of the following is NOT a
characteristic of organizations with
significant political activity?
Select one:
a. Win-win approach to reward
allocations
b. Role ambiguity
c. Opportunities for promotion
an advancement
d. Declining or scarce resources
= Win-win approach to reward
allocations
Explanation:
Win-win approach to reward
allocations
Your project to obtain charitable donations is now 30 days into a planned 40-day project. The project is divided into three activities. The first activity is designed to solicit individual donations. It is scheduled to run the first 25 days of the project and to bring in $25,000. Even though we are 30 days into the project, we still see that we have only 90 percent of this activity complete. The second activity relates to company donations and is scheduled to run for 30 days starting on day 5 and extending through day 35. We estimate that, even though we should have 83 percent (25/30) of this activity complete, it is actually only 50 percent complete. This part of the project was scheduled to bring in $150,000 in donations. The final activity is for matching funds. This activity is scheduled to run the last 10 days of the project and has not started. It is scheduled to bring in an additional $50,000. So far, $175,000 has actually been brought in on the project.
Calculate the Schedule Variance, Schedule Performance Index, and Cost (actually value in this case) Performance Index. How is the project going? (Hint: Note that this problem is different since revenue rather than cost is the relevant measure. Use care in how the measures are interpreted.)
Answer:
1. schedule variance = -$52,500
2. SPI = 0.65
3. CPI = 0.56
Explanation:
to get the solution, we calculate for BRWS and BRWP
first we calculate the budgeted revenue of the work scheduled for each activity using this formula:
budgeted revenue * planned completion
A = 25,000 x 100percent
= $25000
B = 150,000 x (25/30) percent
= $125000
C = 50000 x 0percent
= 0$
total = $25000+$125000+$0
= $150000
Next we calculate budgeted revenue of work performed (brwp)
calculated using this formula:
budgeted revenue x actual completion
A = 25000 x 90percent
= 22500 dollars
B = 150000 x 50percent
= $75000
C = 50000 x 0%
= $0
total = 22500 + 75000 + 0
= $97500
1. schedule variance = BRWP - BRWS
= $97500 - $150000
= -$52500
we have a negative schedule, telling us that the project is behind schedule
2. schedule performance index = revenue of work performed divided by revenue of work schedule
= 97500/150000
= 0.65
3. cost price index = revenue of work performed divided by actual revenue
= 97500/175000
= 0.56
4. how the project is going:
the schedule performance index (SPI) is 0.65 which is less than 1. this is to say that the project is doing better than planned revenue when we talk of revenue
Justin is taking a class in which he is working on his future career goals. His teacher asked him to write an essay answering questions about his ideal future. Justin wrote this: "In five years, I will be 22 years old. I will have graduated with my bachelor’s degree. I will hopefully be living in Colorado, where I will have a job as a computer analyst. I am hoping that I will be near my family members, who also live in Colorado. I plan to be debt-free and regularly putting money into my savings account.” Which of these statements best provides new, additional information about Justin's future goals? I highly value my current talent for analyzing data with computer software. I would like to be training to run a marathon benefiting cancer research. I have been running on a cross country team since I was a freshman. I used to want to live in New York.
Answer:
answer b
Explanation:
I would like to be training to run a marathon benefiting cancer research.
What is a marathon?The marathon is a long-distance foot race that typically takes place on roads but can also be completed on trail routes. Its distance is 42.195 kilometers. You can run the marathon or use a run/walk method to finish it. There are several categories for wheelchairs. There are more than 800 marathons organized annually throughout the world, and while larger marathons can draw tens of thousands of competitors, the vast majority of those running them are recreational athletes. In 1896, the marathon was one of the first modern Olympic competitions. Before 1921, the distance was not standardized. The 1983-starting World Athletics Championships also feature the distance. It is the sole running road race that is a part of both championship events.
Around 490 BC, when the Persians were invading Greece, the marathon first appeared. The most well-known version describes Pheidippides, a Greek messenger tasked with telling the Athenians of the Greeks' victory over the Persians at the Battle of Marathon. Pheidippides went off on foot and ran nonstop because he thought the assignment was vital. He stormed into the government meeting at the city's gates, declared the Greek victory, then collapsed on the ground and passed away from weariness.
It's difficult, especially for novices, to run a marathon. But why does it seem to be so popular these days even if not everyone finds it appealing? There are many other reasons why people choose to participate in marathons, but these are just a few:
Raise awareness of and funds for causes; Put your own endurance to the test;Maintaining a healthy lifestyle and being in shape so we can continue to run;Running erratically and letting tension go strengthens friendships and solidarity. During the runs, encouragement is provided.Before beginning a marathon voyage, however, one should start off slowly and patiently, and training is essential to prepare for this drawn-out yet incredibly gratifying adventure.
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The incentive to improve material well-being by seeking to gain from economic activities is called
1 point
Legal Equality
Marginal Benefit
Open Opportunity
Profit Motive
Answer:
Profit Motive
Explanation:
Profit is the monetary gain or commercial reward for engaging in business. Profits increase the wealth of the entrepreneur.
The primary reason why Businesses are established is to generate profits for the owners. Entrepreneurs commit their resources, time, and efforts to avail goods and services to society expecting to make profits. The desire to increase wealth through profits is what drives people to start a business.
Marginal shows how much money can be made if a producer sells one additional unit of a good.
Answer:
Marginal revenue
Explanation:
Marginal revenue is the additional income attributed to the sale of an extra unit. It is the income a business generates by selling one more unit of a product. Marginal revenue (MR) is compared to Marginal cost( MC) to determine if a business should continue with production and selling activities. If marginal revenue is greater or equal to marginal costs, the company should proceed with production and selling.
Answer:
revenue
Explanation:
Suppose your own demand curve for sweaters slopes downward. Suppose also that, for the last sweater you bought this week, you paid a price exactly equal to your willingness to pay. Then
Use letters in alphabetical order to select options
A your consumer surplus on the last sweater you bought is zero.
B you already have bought too many sweaters this week.
C your consumer surplus on all of the sweaters you have bought this week is zero.
D you should buy more sweaters before the end of the week.
Answer:
A
Explanation:
Consumer surplus is the difference between the willingness to pay of a consumer and the price of the good.
Consumer surplus = willingness to pay – price of the good
If willingness to pay = price of the good , then consumer surplus is zero
On June 1 of the current year, Chad Wilson established a business to manage rental property. He completed the following transactions during June:
a. Opened a business bank account with a deposit of $30,000 from personal funds.
b. Purchased office supplies on account, $1,800.
c. Received cash from fees earned for managing rental property, $10,000.
d. Paid rent on office and equipment for the month, $4,500.
e. Paid creditors on account, $1,250.
f. Billed customers for fees earned for managing rental property, $16,800.
g. Paid automobile expenses (including rental charges) for the month, $750, and miscellaneous expenses, $980.
h. Paid office salaries, $4,000.
i. Determined that the cost of supplies on hand was $680; therefore, the cost of supplies used was $1,120.
j. Withdrew cash for personal use, $7,500.
Required:
Indicate the effect of each transaction and the balances after each transaction.
Answer:
a.
Assets = Increase $30,000
Liability = No effect
Equity = Increase $30,000
Balances : Cash = $30,000 , Capital = $30,000
b.
Assets = Increase $1,800
Liability = Increase $1,800
Equity = No effect
Balances : Office Supplies $1,800, Trade Payables $1,800
c.
Assets = Increase $10,000
Liability = No effect
Equity = Increase $10,000
Balances : Cash = $40,000, Revenue Earned $10,000
d.
Assets = Decrease $4,500
Liability = No effect
Equity = Decrease $4,500
Balances : Rent Expense $4,500, Cash $35,000
e.
Assets = Decrease $1,250
Liability = Decrease $1,250
Equity = No effect
Balances : Trade Payables $550, Cash $33,750
f.
Assets = Increase $16,800
Liability = No effect
Equity = Increase $16,800
Balances : Revenue Earned $26,800 , Trade Receivables $16,800
g.
Assets = Decrease $1,730
Liability = No effect
Equity = Decrease $1,730
Balances : Automobile expenses $750 , Miscellaneous expenses $980, cash $33,000
h.
Assets = Decrease $4,000
Liability = No effect
Equity = Decrease $4,000
Balances : Office salaries $4,000, cash $29,000
i.
Assets = Decrease $1,120
Liability = No effect
Equity = Decrease $1,120
Balances : Office Supplies $680, Supplies expenses $1,120
j.
Assets = Decrease $7,500
Liability = No effect
Equity = Decrease $7,500
Balances : Cash $21,500, Drawings $7,500
Explanation:
When required to give the effect of transactions, always remember the Accounting Equation : Assets = Equity + Liability
Transactions will affect one or more elements of the this equation. Here is a simple approach to arrive at the effects :
Step 1 : The initial step is to identify the Accounts affected.
Step 2 : Classify the Accounts as either Assets, Liabilities or Equity (Capital and Profit)
Step 3 : Give the Effect (Increase, Decrease or No Effect) on the Elements of the equation.
Which of the following scenarios are either not accounted for or measured inaccurately by either the income or the expenditure methods of calculating GDP for the United States?
a. The costs of over-fishing and other overly intensive uses of resources
b. The quality of goods available to consumers
c. Federal government paychecks to soldiers
d. The value of babysitting services, when the babysitter is paid in cash and the transaction isn't reported to the government
e. All the above
Answer:
E
Explanation:
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export
Items not included in the calculation off GDP includes:
1. services not rendered to oneself
2. Activities not reported to the government
3. illegal activities
4. sale or purchase of used products
5. sale or purchase of intermediate products
6. Externalities
You are the product manager for Vita-Joy, a consumer product with a retail price of $1.00. Retail margins on the product are 33%, while wholesalers take a 12% margin. Using the indicated supply chain, fill in the yellow boxes with dollar amounts. (Hint: Variable costs at one link of the chain become the price at a previous link in the chain. Begin your Vita-Joy calculations with the customer and move backwards; do not start with the company and move forward).
Variable manufacturing costs for Vita-Joy are $0.09 per unit. Fixed manufacturing costs are $900,000. The advertising budget for Vita-Joy is $500,000. Your salary and expenses total $35,000. Salespeople are paid entirely by a 10% commission. Shipping costs, breakage, insurance, and so forth are $0.02 per unit.
Now answer the following:_______.
1. By filling in the yellow and green boxes, determine the contribution per unit for Vita-Joy.
2. What is Vita-Joy's breakeven point?
Answer and Explanation:
The computation is shown below;
a. Contribution Unit for vita Joy
Retail Price $1.00
Retail Margin 33%
Retail Profit $0.33 (1.00 × 33%)
Retail Cost $0.67 (1 - 0.33)
Wholesale Margin 12%
Wholesale Profit $0.08 (0.67 × 12%)
Wholesale Cost $0.59 (0.67 - 0.08)
Manufacturers Selling Price per unit $0.59
Variable manufacturing cost per unit $0.09
Variable cost of commission per unit $0.06 (10% × 0.59)
Variable shipping cost brokerage etc $0.02
Total Variable cost per unit $0.17 (0.09+0.06+0.02)
Unit contribution of vita joy $0.42 (0.59 - 0.17)
2 Now Break even point in unit is
= Total Fixed Costs ÷ Contribution units
where,
Total fixed cost is
Fixed Manufacturing Cost $900,000
Advertising cost $500,000
Product manager's Salary and expenses $35,000
Total Fixed Costs $1,435,000
And, the contribution units is $0.42
So the break even point is
= $1,435,000 ÷ $0.42
= 3,416,667 units
You purchase a $1,000 asset for $800. It pays $60 a year for seven years at which time you receive the $1,000 principal. Prove that the annual return on this investment is not 9 percent.
Answer:
Please check explanations for answer
Explanation:
Here, we want to prove that the ROI is not 9 percent per annum
The amount spent buying the item is $800
Now, there is $60 payment per year for 7 years
The total amount received as the total of payment per year after the 7 years will be;
7 * 60 = $420
Now, instead of the $800 paid initially, $1000 was returned as the principal
What this mean is that there is an extra $200 gain including the $420 that was paid earlier
So the total amount of gain on the investment is $200 + $420 = $620
Now, we proceed to calculate the percentage this was, relative to the amount invested
That would be;
620/800 * 100%
= 77.5%
So there was a 77.5% ROI
so the yearly return on this will be;
77.5%/7 = 11.07 which is approximately 11%
So the ROI is 11% and not 9%