The inventory turnover for Tango company are: 4.8, 5.3.
Inventory turnoverUsing this formula
Inventory Turnover = Cost Of Goods Sold / ((Beginning Inventory + Ending Inventory) / 2)
20Y7
Inventory Turnover =$3,864,000 /($770,000+$840,000)/2
Inventory Turnover=$3,864,000/$805,000
Inventory Turnover=4.8
20Y6
Inventory Turnover = $4,001,500 /($740,000+$770,000)/2
Inventory Turnover= $4,001,500 /$755,000
Inventory Turnover=5.3
Therefore the inventory turnover for Tango company are: 4.8, 5.3.
The complete question is:
Financial statement data for years ending December 31 for tango company follow
20Y7 20Y6
Cost of goods sold $3,864,000 $4,001,500
Inventories:
Beginning of year 770,000 740,000
End of year 840,000 770,000
Determine the turnover for 20Y7 and 20Y6.
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Before work can begin on the project, the customer must Group of answer choices sign a contract with the contractor that includes the project start date and payment plan. assess the risks for completing the project on time and reduce the award amount if there is any risk. announce who won the bid for the project so the work can start immediately. contact the contractor and say the project is the winner so the work can start immediately.
Answer:
sign a contract with the contractor that includes the project start date and payment plan.
Explanation:
A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.
Mutual assent is a legal term which represents an agreement by both parties to a contract. When two parties to a contract both have an understanding of the parameters, terms and conditions surrounding a contract, it ultimately implies that they are in agreement; this is generally referred to as mutual assent.
Hence, before work can begin on the project, the customer must sign a contract with the contractor that includes the project start date and payment plan.
100 POINTS + BRAINLIEST PLEASE HELP ME
Answer:
Hi there! Hope this helps you!
Explanation:
Three goals: Exercise,eat healthy, and do my work on time
I would write these on a paper and then I will check them with a pen, and every month I will try to do it and make a habit.
I dont know if this helped....
Have a great day!
Answer:
One of my career goals is a ufc fighter anther is a rapper third is a you tuber. I guess I would have to keep moving forward and never give up, if I feel doubt then I have to turn myself around.
Explanation:
Overcoming a challenge can very difficult for many people. I can't really remember a time I overcame a challenge, I guess I always stayed positive and It wasn't really a big deal to me, I just dealt with it and life goes on. But I can tell you some challenges I will or am trying to overcome in my present and future life. First, High School can be difficult for others for so many reasons, but my main problem getting through high school is passing and graduating. I guess I was dealing with a lot and couldn't really focus on my school work, so I failed and haven't passed a lot of classes so I'm very behind on my credits to graduate. Now I'm in twelfth grade and it's like taking every single class of high school I didn't pass all in one, so it's very overwhelming and a lot of work. Second, another challenge I will be overcoming in the future is to accomplish my goals and passion. I want to become a UFC fighter, rapper, and You Tuber. These goals are big dreams and achieving them can be almost not possible, but anything can be possible, you just have to have the mind set and tell yourself you can do anything. But it can be difficult if you don't know what to do or how to work towards your drams, so that's my main problem. Finally, my main challenge I'm trying to overcome is getting through life, some and many people don't really worry about life because there taking care of and been told they don't have to worry about anything. I have a rough life filled with tough love and scars and tears. But growing up didn't change my soul, I still believe I can accomplish anything and overcome anything. From what I learned from my challenges is that life can be overwhelming and can become hell but sometimes you have to go through hell to get to heaven. And going through experiences can make you wiser by learning from your mistakes and sometimes even learning from other peoples mistake. But I'm trying, it's seems like it's almost impossible to accomplish things I want to accomplish because bad things just happen to me and pulls me down and makes me want to give up on everything.
Gubser Welding, Inc., operates a welding service for construction and automotive repair jobs. Assume that the arrival of jobs at the company's office can be described by a Poisson probability distribution with an arrival rate of five jobs per 8-hour day. The time required to complete the jobs follows a normal probability distribution, with a mean time of 1.3 hours and a standard deviation of 1 hour. Answer the following questions, assuming that Gubser uses one welder to complete all jobs:
What is the mean arrival rate in jobs per hour? Round your answer to four decimal places.
jobs per hour _________
What is the mean service rate in jobs per hour? Round your answer to four decimal places.
jobs per hour _________
What is the average number of jobs waiting for service? Round your answer to three decimal places.
__________
What is the average time a job waits before the welder can begin working on it? Round your answer to one decimal place.
_________ hours
What is the average number of hours between when a job is received and when it is completed? Round your answer to one decimal place.
_________ hours
What percentage of the time is Gubser's welder busy? Round your answer to the nearest whole number.
_________ % of the time the welder is busy.
Answer:
a) Mean arrival rate in jobs per hour = 0.6250
b) Mean service rate in jobs per hour = 0.7692
c) The average number of jobs waiting for service = 2.802
d) Average time a job waits before the welder can begin working on it = 4.5 hours
e) Average number of hours between when a job is received and when it is completed = 5.8 hours
f) Percentage of the time is Gubser's welder busy = 81%
Explanation:
As given,
Number of jobs = 5
Rate = 8 hour per day
Average hours = 1.3
Standard deviation - 1 hour
a)
Mean arrival = [tex]\frac{No. of jobs}{rate}[/tex]
= [tex]\frac{5}{8}[/tex] = 0.6250 per hour
⇒Mean arrival rate in jobs per hour = 0.6250
b)
Mean service rate = [tex]\frac{hour}{average hour}[/tex]
= [tex]\frac{1}{1.3}[/tex] = 0.7692 per hour
⇒Mean service rate in jobs per hour = 0.7692
c)
Average number of job waiting for service = [tex]\frac{(0.6250)^{2} (1)^{2} + \frac{0.6250}{0.7692} }{2 ( 1 - \frac{0.6250}{0.7692} )}[/tex]
= [tex]\frac{1.05}{0.375}[/tex] = 2.802
⇒The average number of jobs waiting for service = 2.802
d)
Average time a job waits before the welder can begin working on it = [tex]\frac{2.802}{0.6250}[/tex]
= 4.5 hr
⇒Average time a job waits before the welder can begin working on it = 4.5 hours
e)
Average number of hours between when a job is received and when it is completed = 4.5 + [tex]\frac{1}{0.7692}[/tex]
= 4.5 + 1.3
= 5.8 hours
⇒Average number of hours between when a job is received and when it is completed = 5.8 hours
f)
Percentage of the time is Gubser's welder busy = [tex]\frac{0.6250}{0.7692}[/tex] ×100%
= 0.8125×100%
= 81.25% ≈ 81%
⇒Percentage of the time is Gubser's welder busy = 81%
Business Question! Just the first problem please, thank you
Answer:
34 coupons. $33.75Explanation:
The coupons are the interest payments the bond makes.
1. The bond has a term of 17 years and coupons are to be paid semi-annually.
This means that for every year, 2 coupon payments will be made.
In 17 years therefore:
= 17 * 2
= 34 coupons
2. The interest on this bond is 6.75% in a year. The coupon is however, semi-annual. Payment per coupon will therefore be half of the yearly rate:
= 6.75% * 1,000 * 1/2
= $33.75
Answer:
Huh? hshjssjsjsjshshshsjsjs
The following events occurred for Johnson Company:
a. Received investment of cash by organizers and distributed to them 1,180 shares of $1 par value common stock with a market price of $15 per share.
b. Purchased $8,200 of equipment, paying $1,500 in cash and owing the rest on accounts payable to the manufacturer.
c. Borrowed $14,000 cash from a bank. Loaned $800 to an employee who signed a note.
d. Purchased $20,343 of land; paid $9,000 in cash and signed a note for the balance.
Required:
For each of the events (a) through (d), perform transaction analysis and indicate the account, amount, and direction of the effect (increase or decrease) on the accounting equation.
Answer:
a. Received investment of cash by organizers and distributed to them 1,180 shares of $1 par value common stock with a market price of $15 per share.
Account Debit Credit
Cash $17,700
Common Stock $1,180
Additional Paid-In Capital $16,520
Assets increase, and stockholder's equity increase by the same amount: $17,700.
b. Purchased $8,200 of equipment, paying $1,500 in cash and owing the rest on accounts payable to the manufacturer.
Account Debit Credit
Equipment $8,200
Cash $1,500
Accounts Payable $6,700
Assets increase by a net $6,700 (Equipment - Cash), and Accounts Payable by $6,700 as well.
c. Borrowed $14,000 cash from a bank. Loaned $800 to an employee who signed a note.
Account Debit Credit
Cash $14,000
Notes Payable $14,000
Notes Receivable $800
Cash $800
Assets increase by a net $14,000 (Cash + Notes Receivable - Cash), and liabilities increase by $14,000
d. Purchased $20,343 of land; paid $9,000 in cash and signed a note for the balance.
Account Debit Credit
Land $20,343
Cash $9,000
Notes Payable $11,343
Assets increase by a net $11,343 (Land - Cash), and liabilities increase by the same amount.
If the price of output increases, the marginal revenue product curve will shift ________ and the profit maximizing quantity of labor demanded will ________. Group of answer choices up; decrease down; decrease down; increase up; increase
Answer:
Increase marginal revenue
If the price of output increases, the marginal revenue product curve will shift up and the profit maximizing quantity of labor demanded will decrease. Thus, option (a) is correct.
What is product?The thing being sold is called a “product.” A product and service market foundation. Items are divided into two categories: industrial products and consumer products. The product is to fulfill the needs of the consumer. There was the based on the commonly are the rules in the government to follow the product management.
When the quantities of other variables utilized fluctuate, the marginal revenue product of labor changes. It will also fluctuate as a result of changes in technology, the price of the product being produced, or the number of enterprises hiring workers. The product curve will trend upward, while the quality will fall.
As a result, the price of output increases, the marginal revenue product curve will shift up and the profit maximizing quantity of labor demanded will decrease. Therefore, option (a) is correct.
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Functions of money and barter
Consider an economy in which money does not exist, so that agents rely on barter to carry out transactions. When the economy was small, barter seemed sufficient. However, the economy has now begun to grow. If people in this economy trade three goods, the price tag of each good must list ______prices, and the economy requires______prices for people to carry out transactions. Suppose that the number of goods people trade increases to 15. Then the price tag of each good must list ______prices, and the number of prices that the economy requires increases to_____.
Now suppose that our economy has a money. The government now issues a national currency and there is no longer any barter. In this economy, money and currency are the same because:
1. Just because the government issues currency does not mean that the currency will be accepted as money, since it must be used as a medium of exchange, store of value and standard of value.
2. The fact that the government issues currency means that the currency will be accepted as money by all agents.
3. The fact that the currency is backed by the government means that it will never lose value and will remain a perfect unit of account.
4. Just because the government issues currency does not mean that the currency will be accepted as money, and buyers and sellers still need barter to ensure that money does not lose its value.
Suppose now that our economy is suffering from rapid, ongoing increases in the cost of living. Which characteristic of money is directly negatively impacted in that economy?
1. Medium of exchange.
2. Double coincidence of wants.
3. Store of value.
4. Unit of account.
Answer:
a. 9 prices
b. 9 prices
c. 225 prices
d. 225
e. 2. The fact that the government issues currency means that the currency will be accepted as money by all agents.
f. The characteristic of money that is directly negatively impacted in that economy by the rapid, ongoing increases in the cost of living is the:
3. Store of value.
Explanation:
Before the advent of money or currency, the system of exchanging goods and services between two people was the barter system. This system relies on the exchange of goods and services that are required by one person if she can find another person who has the goods or services and is willing to accept or actually needs the goods or services that the first person has. It was a complicated marketplace that involves locating the other party in the barter transaction.
Presented below is information related to Metlock Corp. for the year 2020.
Net sales $1,274,000 Write-off of inventory due to obsolescence $78,400
Cost of goods sold 764,400 Depreciation expense omitted by accident in 2019 53,900
Selling expenses 63,700 Casualty loss 49,000
Administrative expenses 47,040 Cash dividends declared 44,100
Dividend revenue 19,600 Retained earnings at December 31, 2019 960,400
Interest revenue 6,860 Effective tax rate of 20% on all items
Prepare a multiple-step income statement for 2017. Assume that 62,370 shares of common stock are outstanding. (Round earnings per share to 2 decimal places, e.g. 1.49.)
Answer:
Net Income $238,336
Earnings per share 3.82
Explanation:
Preparation of a multiple-step income statement for 2017.
Multiple-step income statement for 2017
Sales Revenue:
Net sales 1,274,000
Less: cost of goods sold (764,400 )
Gross profit sales[A] 509,600
Operating Expenses:
Selling Expenses 63,700
Admin Expenses 47,040
Total Operating Expenses (b) 110,740
Income from Operations (a - c]=c 398,860
Other Revenue and Gains
Dividend Revenue 19,600
Interest Revenue 6,860
Total other revenues and gains(d) 26,460
Other Expenses and Losses :
Write-off of Inventory Due to Obsolescence 78,400
Casualty loss 49,000
Total Other Expenses and Losses(e) 127,400
Income before income tax(c + d -e]=f 297,920
Less: Income tax 20%(g) 59,584
Net Income(f - g) 238,336
(297,920-59,584)
Number of shares outstanding 62,370
Earnings per share 3.82
Therefore the multiple-step income statement for 2017 will be $238,336
Dodie Company completed its first year of operations on December 31. All of the year's entries have been recorded except for the following:
a. At year-end, employees earned wages of $4,000, which will be paid on the next payroll date in January of next year.
b. At year-end, the company had earned interest revenue of $1,500. The cash will be collected March 1 of the next year.
Required:
a. What is the annual reporting period for this company?
b. Identify whether each transaction results in adjusting a deferred or an accrued account. Using the process illustrated in the chapter, prepare the required adjusting entry for transactions ( a ) and ( b Include appropriate dates and write a brief explanation of each entry.
c. Why are these adjustments made?
Answer:
a. What is the annual reporting period for this company?
January to December
b. Identify whether each transaction results in adjusting a deferred or an accrued account. Using the process illustrated in the chapter, prepare the required adjusting entry for transactions ( a ) and ( b Include appropriate dates and write a brief explanation of each entry.
a. At year-end, employees earned wages of $4,000, which will be paid on the next payroll date in January of next year.Dr Wages expense 4,000
Cr Wages payable 4,000
Accrued expense
b. At year-end, the company had earned interest revenue of $1,500. The cash will be collected March 1 of the next year.
Dr Interest receivable 1,500
Cr Interest revenue 1,500
Accrued revenue
c. Why are these adjustments made?
Even though the wages will be paid during January, the expense was incurred during December, therefore, the liability and the expense must be recorded. The interest will be collected in March, but it was earned during the past year.
Diaz Manufacturing had current assets worth $2,812,422 and long-term assets worth $300,600 in 2014. In 2013, current assets were $650,208 and long-term assets were $400,600. The firm had accounts payable of $196,522 , accruals of $259,054 , notes payable of $292,361 , and long-term debt of $405,830 in 2014. Calculate the net working capital for Diaz Manufacturing in 2014.
A radiology clinic is considering buying a new $700,000 x-ray machine, which will have no salvage value after installation because the cost of removal will be approximately equal to its sales value. Maintenance is
estimated at $24,000 per year as long as the machine is owned. After 10 years the x-ray source will be depleted and the machine must be scrapped. Which of the following represents the most economic life of this x-ray machine?
a.One year, because it will have no salvage after installation
b. Five years, because the maintenance costs are constant
c. Ten years, because maintenance costs don't increase
d. Cannot be determined from the information given.
Answer: c. Ten years, because maintenance costs don't increase.
Explanation:
With the maintenance costs constant at $24,000 a year, the machine is still expected to go 10 years before it's x-ray source is depleted and it has to be scrapped.
This means that the useful life is therefore 10 years because the maintenance cost will not increase but will still keep the machine going for 10 years.
Bedrock Company reported a December 31 ending inventory balance of $414,500. The following additional information is also available: The ending inventory balance of $414,500 included $72,500 of consigned inventory for which Bedrock was the consignor. The ending inventory balance of $414,500 included $23,000 of office supplies that were stored in the warehouse and were to be used by the company's supervisors and managers during the coming year. Based on this information, the correct balance for ending inventory on December 31 is:
Answer:
$391,500
Explanation:
Calculation for what the correct balance for ending inventory on December 31 is:
Using this formula
Ending inventory on December 31=Ending inventory balance-Office supplies
Let plug in the formula
Ending inventory on December 31=$414,500-$23,000
Ending inventory on December 31=$391,500
Therefore the correct balance for ending inventory on December 31 is:$391,500
A local college is deciding whether to conduct a campus beautification initiative that would involve various projects, such as planting trees and remodeling buildings, to make the campus more aesthetically pleasing. For the students of the college, the visual appearance of the campus is _____and ________Thus, the visual appearance would be classified as a public good. Suppose the college administrators estimate that the beautification initiative will cost $1,540. To decide whether the initiative should be undertaken,
administrators conduct a survey of the college's 380 students, asking each of them their willingness to pay for the beautification project. The average willingness to pay, as revealed by the survey, is $14.
The benefit of the beautification initiative, as suggested by the survey, is $ ________.Because the estimated benefit is________ than the cost, the college administrators _________ undertake the beautification initiative.
The calculation of the benefit of the beautification initiative relied on the ability of the administrators to capture the true willingness to pay of each student accurately.
Which of the following scenarios would cause the survey used by the college administrators to yield misleading data on willingness to pay?
a. Students believe that if the initiative does not happen, the funds for the initiative will not be spent elsewhere.
b. Students believe they will eventually be charged their willingness to pay.
Answer:
non-rival
non-excludable
$5320
greater
should
b
Explanation:
A public good is a good that is non rivalled and non excludable in consumption. An example is road networks.
If the beautification project is carried out, a student cannot be excluded from benefitting from the project. The benefit a student derives from the project isn't affected by the benefit other students derive from it
Benefit of the project = number of students x willingness to pay
$14 x 380 = $5320
Because the benefit is greater than the cost of the project, the project should be undertaken
Willingness to pay is the highest amount a consumer is willing to pay for a product
Willingness to pay might be misstated if students think they would be charged their willingness to pay. They would understate their willingness to pay.
Mark is a wealthy private financier who funds projects without utilizing a venture capital limited partnership structure. He typically provides funds for start-up projects that are $1 million or less. There have been instances in the past where Mark lost a huge share of money in some projects, but he also received high returns on some other projects. He is aware of the risks, but that does not stop him from funding start-ups. Which of the following would best describe Mark?
a. He is a broker.
b. He is a laggard.
c. He is an angel investor.
d. He is a market leader
Answer:
c. He is an angel investor.
Explanation:
Angle investors would represent the financing companies that are big and they are working for operating the base market in which the investor would be aware of what to be invested at the home markets. The tyoe of investment that discussed on the given situation represent the angle investing
Therefore the option c. is correct
What factors account for a fall in the long-run cost curve?
Compute the future value of $1,900 continuously compounded for: a. 7 years at an annual percentage rate of 8 percent. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. 5 years at an annual percentage rate of 11 percent. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. 8 years at an annual percentage rate of 5 percent. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) d. 5 years at an annual percentage rate of 7 percent. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Answer:
$14,407.72
$10,604.64
$15,979.32
Explanation:
The formula to be used is :
FV = PV x е^r x N
FV = Future value
P = Present value
R = interest rate
N = number of years
$1,900 x e^0.08 x 7 = $14,407.72
$1,900 x e^0.11 x 5 = $10,604.64
$1,900 x e^0.05 x 8 = $15,979.32
Ayayai Company started the year with $56400 in its Common Stock account and a balance in Retained Earnings of $41400. During the year, the company earned net income of $45100 and declared and paid $18800 of dividends. In addition, the company sold additional common stock amounting to $26300. As a result, the amount of its retained earnings at the end of the year would be
Answer: See Explanation
Explanation:
Based on the information that is given in the question, the amount of the company's retained earnings at the end of the year would be:
Ending retained earnings is calculated as:
= Beginning retained earnings + the net income - dividends
= $41400 + $45100 - $18800
= $67700
Assuming the opening retained earnings was debit, this would be:
= -$41400 + $45100 - $18800
= -$15100
explain the governance of internet
Answer:
Internet governance is defined as 'the development and application by governments, the private sector, and civil society, in their respective roles, of shared principles, norms, rules, decision-making procedures, and programs that shape the evolution and use of the Internet'
Hope it helps! ^-^
Explanation:
The growth or development and programmes by government at a public sector and all the institutions in their respective roles of mutual guiding beliefs,norms,rules,desicision making operation and broadcast programming that forms the intection or evolutionary term and use the internet can be defined as governance of internet.
"On January 1, 2019, the general ledger of Global Corporation included supplies of $1,000. During 2019, supplies purchased amounted to $5,000. A physical count of inventory on hand at December 31, 2019 determined that the amount of supplies on hand was $1,200. How much is the supplies expense for year 2019?"
Answer:
yes on 2020
Explanation:
aph development continues with an expression of the rationale or the explanation that the writer gives for how the reader should interpret the inform
On 2020 Aph development continues with an expression of the rationale or the explanation that the writer gives for how the reader should interpret the inform.
What is development?A subfield of economics called "development economics" is concerned with enhancing the fiscal, economic, and social situations in underdeveloped nations.
With an emphasis on enhancing conditions in the world's poorest nations, development economics takes into account elements including health, education, working conditions, local and international policy, and market conditions.
The area also looks at macroeconomic and microeconomic aspects of developing economies' structures, as well as domestic and global economic growth.
Because every country has a unique set of cultural, social, and economic institutions, the application of development economics is intricate and varied.
Mercantilism, nationalism, the linear stages of growth model, and structural-change theory are four popular theories of development economics.
Determining whether rapid population increase aids or hinders development, changing the way economies are structured, and the importance of education and healthcare are some components of development economics.
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Jill Angel holds a $200,000 portfolio consisting of the following stocks. The portfolio's beta is 0.88. Stock Investment Beta A $50,000 0.50 B $50,000 0.80 C $50,000 1.00 D $50,000 1.20 Total $200,000 If Jill replaces Stock A with another stock, E, which has a beta of 1.45, what will the portfolio's new beta be
Answer:
1.11
Explanation:
Calculation for what will the portfolio's new beta be
First step is to Calculate the weight of each investment
Stock E $ 50,000 / $ 2,00,000
Stock E= 0.25
Stock B $ 50,000 / $ 2,00,000
Stock B= 0.25
Stock C $ 50,000 / $ 2,00,000
Stock C = 0.25
Stock D $ 50,000 / $ 2,00,000
Stock D = 0.25
Now let calculate the portfolio new beta
Weight Beta
Stock E 0.25* 1.45 = 0.36
Stock B 0.25 * 0.80 = 0.20
Stock C 0.25* 1.00 = 0.25
Stock D 0.25 * 1.20 = 0.30
Total 1.11
(0.36+0.20+0.25+0.30)
Therefore portfolio's new beta will be 1.11
Prepare a journal entry for the purchase of office equipment on February 19 for $31,700, paying $7,600 cash and the remainder on account. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is enter.
CHART OF ACCOUNTS
General Ledger
ASSETS
11 Cash
12 Accounts Receivable
13 Office Supplies
14 Prepaid Insurance
15 Land
16 Office Equipment
17 Automobiles
LIABILITIES
21 Accounts Payable
22 Unearned Rent
23 Notes Payable
24 Salaries Payable
EQUITY
31 John Doe, Capital
32 John Doe, Drawing
Journal
Prepare a journal entry for the purchase of office equipment on October 27 for $32,750, paying $6,550 cash and the remainder on account. Refer to the Chart of Accounts for exact wording of account titles.
PAGE 1
GENERAL JOURNAL
DATE ACCOUNT TITLE POST. REF. DEBIT CREDIT
1
2
3
REVENUE
41 Fees Earned
42 Sales Commission
Answer:
A. Dr Office equipment $31,700
Cr Cash $7,600
Cr Accounts payable $24,100
B. Dr Office equipment $32,750
Cr Cash $6,550
Cr Accounts payable $26,200
Explanation:
Preparation of the journal entry
A. Based on the information given if the purchase of office equipment on February 19 was the amount of $31,700 in which the amount of $7,600 was paid as cash while the remainder on account which means that the journal entry will be:
Dr Office equipment $31,700
Cr Cash $7,600
Cr Accounts payable $24,100
($31,700-$7,600)
B. Based on the information given if the purchase of office equipment on February 19 was the amount of $32,750 in which the amount of $6,550 was paid as cash while the remainder on account which means that the journal entry will be:
Dr Office equipment $32,750
Cr Cash $6,550
Cr Accounts payable $26,200
($32,750-$6,550)
Babe Ruth was a famous baseball player in the 1920s. He made a salary of $80,000 in 1930, which was considered outrageous because it was more than President Hoover made ("I had a better year than he did" was Ruth's supposed response). Nowadays, baseball players make much more than $80,000; the average major league salary in 2017 is $4.47 million per year, and the highest salary is $33 million for Clayton Kershaw. Some of the difference in salaries between Babe Ruth and today's players is due to inflation, and some of it is due to the fact that major league players make more in real terms today, because the market for baseball has grown over times and because players have gotten a higher share of the baseball pie over time because they have a powerful union How much of the difference is due to inflation? What is Babe Ruth's 1930 salary in today's dollars? You can use the same "index method" formula that we used to convert nominal GDP to real GDP in class. There are various websites that show the Consumer Price Index for various years.
Answer:
In real dollars, Babe Ruth's salary = $80,000 / 0.0645 (CPI 1930) = $1,240,000
Since Babe Ruth was the highest paid baseball player back then, if we compare his updated salary to Kershaw's salary, it represents only = $1,240,000 / $33,000,000 = 3.76%.
That means that most of the players' salary raise was due to other factors, not just inflation.
Journalize the following transactions for Cullumber Company.
Sept. 1 Purchased supplies for $1,020 cash. 5 Paid $410 cash dividend to stockholders.
7 Received $5,500 down payment from customer for services to be provided in the future.
16 Received $770 cash from a previously billed customer for payment of services provided in the prior month.
22 Purchased equipment for $3,000 by paying $1,100 cash and issued a note payable for the balance.
Answer and Explanation:
The journal entries are shown below
On Sept 1
Supplies Dr $1,020
To Cash $1,020
(being supplies purchased in cash)
On Sept 5
Dividend Dr $410
To cash $410
(being cash dividend is paid)
On Sept 7
cash Dr 5,500
To Unearned service revenue $5,500
(being cash collection is recorded)
On Sept 16
Cash Dr $770
To Account receivable $770
(being cash collection is recorded)
On Sept 22
Equipment Dr $3,000
To cash $1,100
To Note payable $1,900
(being equipment purchased is recorded)
Which of the following is NOT true of the African Continental Free Trade Area (AfCFTA)?
The oldest trade agreement still in use today
Combined GDP $3.4 trillion
The Largest free trade agreement per number of member countries
1.3 billion people across 55 countries
Answer:
no te entiendo porque estas hablando en ingles y yoben español jajajaja ok te lo suplico ok
Superior Micro Products uses the weighted-average method in its process costing system. Data for the Assembly Department for May appear below:
Materials Labor Overhead
Work in process, May 1 $22,300 $35,694 $173,247
Cost added during May $135,305 $23,796 $115,498
Equivalent units of production 1,900 1,800 1,700
Required:
a. Compute the cost per equivalent unit for materials, for labor, and for overhead. (Round your answers to 2 decimal places.)
b. Compute the total cost per equivalent whole unit.
Answer:
Materials Labor Overhead
Work in process, May 1 $22,300 $35,694 $173,247
Cost added during May $135,305 $23,796 $115,498
Total $157,605 $59,490 $288,745
a. Compute the cost per equivalent unit for materials, for labor, and for overhead. (Round your answers to 2 decimal places.)
Materials cost per EUP = $157,605 / 1,900 = $82.95
Labor cost per EUP = $59,490 / 1,800 = $33.05
Overhead cost per EUP = $288,745 / 1,700 = $169.85
b. Compute the total cost per equivalent whole unit.
total cost per EUP = $82.95 + $33.05 + $169.85 = $285.85
An investor, who believes the economy is slowing down, wishes to reduce the risk of her portfolio. She currently owns 12 securities, each with a market value of $3,000. The current beta of the portfolio is 1.21 and the beta of the riskiest security is 1.62. What will the portfolio beta be if the riskiest security is replaced with a security of equal market value but a beta of 0.80
Answer:
1.14
Explanation:
Investors has number of securities = 12
Each with a market value = $3,000
Current beta of the portfolio (before replacement of riskiest security ) = 1.21
Beta of the riskiest security= 1.62
If the riskiest security is replaced = 0.80
Portfolio Beta before replacement of the riskiest security = Remaining number of securities / total number of securities * Beta of securities + Number of riskiest security / total number of securities * Beta of the riskiest security
Portfolio Beta before replacement of the riskiest security = Weight of securities*Beta of securities + Weight of riskiest security*Beta of riskiest security
Let the beta of securities be x.
1.21 =11/12 *x + 1/12 *1.62
1.21 =11/12 *x +0.135
1.21-0.135 = 11/12 x
1.075 =11/12 x
x = 1.075*12/11
x = 1.1727
Beta of securities = 1.17
Portfolio beta after the replacement of the riskiest security = 11/12*1.17 +1/12*0.8 = 1.0725 + 0.0666 = 1.1391 = 1.14
Explain using examples the three measures of measuring GDP
Answer: See explanation
Explanation:
The gross domestic product means the value in terms of money of the goods that a nation produces. The three measures of measuring the gross domestic product are:
1. Expenditure approach: This approach has to do with the addition of all the expenses that was incurred in a particular economy on the final goods and services. This can be calculated using C+I+G+(X-M)
where,
C = consumption.
I = investment
G = government expenditure
X = export
M = import
2. Income approach: This involves the addition of all the income that is earned in a particular country for the year. In this case, one will need to add the wages, salaries, interest, profit and rent.
3. Value added approach: This has to do with the addition of the value added which is down at every production level.
why is it important to have a good besiness background?
Manufacturers of large equipment such as aircraft and ships and companies involved in road construction have jobs that may require two or more years for completion. For example, Boeing Corporation might have an order for 50 aircraft for a particular airline, and the order will extend over a three- to five-year period. Aircraft are delivered as completed, but not in a batch of 50 at one time. In the typical fashion, the overhead application rate must be calculated and applied in such a way that each aircraft that is delivered has the proper amount of overhead for that aircraft. Required: What unique difficulties do you see in the calculation and application of overhead in industries such as aircraft manufacturing or shipbuilding
Answer and Explanation:
The unique difficulty that faced by industries in terms of aircraft manufacturing or ship building that includes the measurement of the capciaty cost that would be distributed each year with respect to the job. The overhead would be distributed to the capacity spent. Also the company find to be difficult for tracking the actual capacity i.e. used in the production of a single aircraft or ship. In this case, the predetermined overhead rate would not be worked.
Changes in population can:_________.
a. cause the price of a good or service to decrease in an area but cannot cause the price to increase.
b. shift the demand curve of a good or service in an area.
c. cause the price of a good or service to increase in an area but cannot cause the price to decrease.
d. alter the supply of a good or service in an area.
e. shift the supply curve of a good or service in an area.
Answer:
I'm thinking it is C. and D (if multiple choice)
Answer:
The Answer is C
Explanation:
It wouldn't go down if more people will be able to buy the good