Suppose a young chef who recently graduated from culinary school in Cuba looks for work at local restaurants but is unable to find a job. After months of searching, she gives up on securing a traditional job and instead decides to offer cooking classes in her apartment, teaching American tourists how to prepare traditional Cuban dishes. She is unable to secure a license for her business, so she operates on a cash-only basis, not reporting her income to the government.
a. While searching for a job in a local restaurant, the chef
b. Two months after giving up her job scarch, thc chef
c. A year after starting her cooking class, the chef

Answer:

a. The chef should report her income from cooking classes held at her apartment.

b. the chef should continue and try to expand her cooking classes with reporting her income.

c. started earning and try to secure the license to get a job.

Explanation:

The young chef who got graduated from Cuba should try to secure a license first in order to secure a good job. The chef was unable to find a job and so she started cooking classes at her home. The income was unreported as she did not had license so she is unable to report her income to the government.

She operates on a cash-only basis, not reporting her income to the government is :

a. The chef should report her wage from cooking classes held at her apartment

b. The chef ought to proceed and attempt to extend her cooking classes with announcing her income.

c. She begun gaining and attempt to secure the permit to urge a job.

The youthful chef who got graduated from Cuba ought to attempt to secure a permit to begin with in arrange to secure a great job.

The chef was incapable to discover a work and so she begun cooking classes at her domestic.

The wage was unreported as she did not had permit so she is incapable to report her salary to the government.

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Helmers Corporation manufactures a single product. Variable costing net operating income last year was $95,000 and this year was $113,900. Last year, $35,400 in fixed manufacturing overhead costs were released from inventory under absorption costing. This year, $13,500 in fixed manufacturing overhead costs were deferred in inventory under absorption costing. What was the absorption costing net operating income last year

An investment had a nominal return of 10.7 percent last year. If the real return on the investment was only 6.5 percent, what was the inflation rate for the year?

Consider an economy described by the following​ equations: Y​ = C​ + I​ + G, G​ = 2,000 T​ = 2,000 C ​ = 250​ + 0.75YD I​ = 750 ​a) Is there a government budget​ deficit, budget​ surplus, or balanced​ budget? A. budget deficit B. budget surplus C. balanced budget ​b) Calculate the equilibrium value of Y. Y​ = ​$ nothing ​c) What is the value of autonomous consumption​ (c0)? autonomous consumption​ = ​$ nothing ​d) What is the value of​ MPC? What is the value of​ MPS? MPC​ = nothing MPS​ = nothing ​e) Calculate the value of APC and the value of APS. Round your answers at 2 decimal places. APC​ = nothing APS​ = nothing ​f) Calculate private​ saving, public saving and national saving. Private Saving​ = ​$ nothing Public Saving​ = ​$ nothing National Saving​ = ​$ nothing

The objective theory of contracts refers to the fact that in determining whether a valid offer exists, the court will mainly consider whether: (A) The offeror and offeree were acting in a calm, reasonable, unemotional manner. (B) The intentions--both obvious and unobserved--of the offeror and offeree match their actions. (C) The offer would seem fair from the perspective of a prudent and reasonable person. (D) A reasonable person, observing the situation, would believe a genuine offer had been made.

Let X be the damage incurred (in $) in a certain type of accident during a given year. Possible X values are 0, 1,000, 5,000, and 10,000, with probabilities 0.84, 0.09, 0.05, and 0.02, respectively. A particular company offers a $500 deductible policy. If the company wishes its expected profit to be $100, what premium amount should it charge (in dollars)

Cootributions of political institutions​

Required:
1. & 2. Prepare journal entries to record the transactions for April and post them to the ledger accounts in Requirement 6b. The company records prepaid and unearned items in balance sheet accounts.
3. Using account balances from Requirement 6b, prepare an unadjusted trial balance as of April 30.
4. Journalize the adjusting entries for the month and prepare the adjusted trial balance.
5a. Prepare the income statement for the month of April 30, 2017.
5b. Prepare the statement of retained earnings for the month of April 30, 2017.
5c. Prepare the balance sheet at April 30, 2017.
6a. Prepare journal entries to close the temporary accounts and then post to Requirement 6b.
6b. Post the journal entries to the ledger.
7. Prepare a post-closing trial balance.
April 1 Nozomi invested $47,000 cash and computer equipment worth $40,000 in the company in exchange for common stock
2 The company rented furnished office space by paying $2,200 cash for the first month's (April) rent
3 The company purchased $2,000 of office supplies for cash
10 The company paid $2,200 cash for the premium on a 12-month insurance policy. Coverage begins on April 11
14 The company paid $1,300 cash for two weeks' salaries earned by employees
24 The company collected $14,000 cash on commissions from airlines on tickets obtained for customers
28 The company paid $1,300 cash for two weeks salaries earned by employees
29 The company paid $300 cash for minor repairs to the company's computer
30 The company paid 1,100 cash for this month's telephone bill
30 The company paid $2,000 cash in dividends.
The company's chart of accounts follows:
101 Cash 106 Accounts Receivable 124 office Supplies 128 Prepaid Insurance 167 Computer Equipment 168 Accumulated Depreciation-Computer Equip 209 Salaries Payable 307 Common Stock 318 Retained Earnings 319 Dividends 405 Commissions Earned 612 Depreciation Expense Computer Equip 622 Salaries Expense 637 Insurance Expense 640 Rent Expense 650 Office Supplies Expense 684 Repairs Expense 688 Telephone Expense 901 Income Summary
Use the following information:
a. Two-thirds (or $122) of one month's insurance coverage has expired
b. At the end of the month, $600 of office supplies are still available
c. This month's depreciation on the computer equipment is $400.
d. Employees carned $580 of unpaid and unrecorded salaries as of month-end
e. The company carned $2,250 of commissions that are not yet billed at month-end

Ramon and Sammy are working on a group homework assignment. The homework consists of a set of essay questions and a set of questions on graphing models. Ramon can finish an essay question in about 15 minutes and a graphing question in about 30 minutes. Sammy can finish an essay question in about 20 minutes and a graphing question in about 35 minutes. Assume that Ramon and Sammy produce the same quality answers. Calculate Ramon and Sammy's opportunity cost of each task. Please round each answer to the nearest tenth.

The article entitled​ "My Drug​ Probem" best reflects the economic idea that A. ​Pharmac, like private drug​ companies, attempt to maximaize the revenue that they receive from selling drugs. B. scarcity implies competition over resources which implies that every society has to establish rules that ration the available or potential goods and services among its citizens C. markets are always the best way to allocate resources D. government health​ programs, such as​ Pharmac, do not have to make decisions or choices regarding the availability​ and/or distribution of medical treartments and drugs to its citizens

Stallion Corporation sold $190,000 par value, 10-year first mortgage bonds to Pony Corporation on January 1, 20X5. The bonds, which bear a nominal interest rate of 10 percent, pay interest semiannually on January 1 and July 1. The entry to record interest income by Pony Corporation on December 31, 20X7, was as follows:
Note: Assume using straight-line amortization of bond discount or premium.
General Journal Debit Credit
Interest Receivable 9,500
Interest Income 9,025
Investment in Stallion Corporation Bonds 475
Pony Corporation owns 65 percent of the voting stock of Stallion Corporation, and consolidated statements are prepared on December 31, 20X7.
Required:
A. What was the original purchase price of the bonds to Stallion Corporation?
B. What is the balance in Pony's bond investment account on December 31, 20X7?
C. Prepare the worksheet elimination entry or entries needed to remove the effects of the intercompany ownership of bonds in preparing consolidated financial statements for 20x7.
• Record the entry to eliminate the effects of the intercompany ownership in the bonds.
• Record the entry to eliminate the intercompany interest receivables/payables.

A cable TV company redesigned jobs so that one employee interacts directly with customers, connects and disconnects their cable service, installs their special services and collects overdue accounts in an assigned area. They also decided to do away with scripted customer interaction manuals and allow each employee to determine how best to interact with each customer. Previously, each task was performed by a different person and the customer interacted only with someone at the head office. This change most likely increased each employee's _______________. Group of answer choices

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26223-CZ company a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The 26223-CZ company based its predetermined overhead rate for the current year on the following data: Total machine-hours 50,000 Total fixed manufacturing overhead cost $ 400,000 Variable manufacturing overhead per machine-hour $ 6 Recently, Job D284 was completed with the following characteristics: Number of units in the job 40 Total machine-hours 100 Direct materials $ 750 Direct labor cost $ 2,750 If the company marks up its unit product costs by 60% then the selling price for a unit in Job D284 is closest to: (Round your intermediate calculations to 2 decimal places.)

CL
ratio
Cygnus has a
dividend cover ratio
of 4.0 times and expects
zero growth in dividends. The company
has one million $1 ordinary shares
în issue and the market capitalization of
the
company
is $ 50 million
After tax profits for next year is expected to be $20 million.What is the cost of equity capital?
​

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The following data from the just completed year are taken from the accounting records of Mason Company: Sales $ 659,000 Direct labor cost $ 88,000 Raw material purchases $ 135,000 Selling expenses $ 104,000 Administrative expenses $ 49,000 Manufacturing overhead applied to work in process $ 209,000 Actual manufacturing overhead costs $ 221,000 Inventories Beginning Ending Raw materials $ 8,600 $ 10,200 Work in process $ 5,400 $ 20,200 Finished goods $ 78,000 $ 25,600 Required: 1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials. 2. Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold. 3. Prepare an income statement.

Six Sigma programs: Group of answer choices suggest that all activities can be controlled, employee empowerment is the best control tool, and 100 percent control is possible. consist of a disciplined, statistics-based system aimed at producing not more than 2.5 defects per million iterations for a manufacturing or assembly process. All of these. are based on three principles: (1) all work is a statistically controllable process; (2) no well-controlled process allows variability; and (3) defect-free work requires tight statistical controls. utilize advanced statistical methods to improve quality by reducing defects and variability in the performance of business processes.

Suppose a farmer in Georgia begins to grow peaches. He uses​ $1,000,000 in savings to purchase​ land, he rents equipment for ​$90 comma 000 a​ year, and he pays workers ​$110 comma 000 in wages. In​ return, he produces 300 comma 000 baskets of peaches per​ year, which sell for ​$3.00 each. Suppose the interest rate on savings is 1 percent and that the farmer could otherwise have earned ​$45 comma 000 as a shoe salesman. What is the​ farmer's economic​ profit? The peach farmer earns economic profit of ​$nothing . ​(Enter your response as an​ integer.)

In 2020, Simon, age 12, has interest income of $7,500 on funds he inherited from his grandmother, and no earned income. He has no investment expenses. His parents have a taxable income of $82,250 and file a joint return. Assume that no parental election is made. If required, round the tax computations to the nearest dollar.
Simon's net unearned income is $.
Simon's allocable parental tax is $.
Simon's total tax is $.

Financial reports prepared for a variety of external users who are unable to obtain the accounting information for their own specific needs are known as:
a.
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c. Non-specific user reports
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15. Consider a no-load mutual fund with $400 million in assets, 50 million in debt, and 15 million shares at the start of the year; and $500 million in assets, 40 million in debt, and 18 million shares at the end of the year. During the year investors have received income distributions of $0.50 per share, and capital gains distributions of $0.30 per share. Assuming that the fund carries no debt, and that the total expense ratio is 0.75%, what is the rate of return on the fund

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Capital stock was issued in exchange for $363,000 cash.Purchase $186,000 of equipment by making a $63,000 cash down payment and signing a note payable for the balance.Made a $36,500 cash payment on the note payable from the purchase of equipment.Sold a piece of equipment for cash of $21,000. The equipment was sold at cost, so there is no gain or loss on the sale.What is the balance in the Note Payable account at the end of March

Perteet Corporation's relevant range of activity is 3,300 units to 7,500 units. When it produces and sells 5,400 units, its average costs per unit are as follows: Average Cost per Unit Direct materials $ 6.20 Direct labor $ 3.15 Variable manufacturing overhead $ 1.30 Fixed manufacturing overhead $ 3.10 Fixed selling expense $ 0.60 Fixed administrative expense $ 0.30 Sales commissions $ 0.40 Variable administrative expense $ 0.45 If 4,200 units are produced, the total amount of manufacturing overhead cost is closest to: Multiple Choice $18,480 $29,970 $22,200 $15,540

Do It! Review 9-2a On January 1, 2017, Salt Creek Country Club purchased a new riding mower for $17,500. The mower is expected to have a 10-year life with a $600 salvage value. What journal entry would Salt Creek make on December 31, 2017, if it uses straight-line depreciation

define investment bank.​

Fillmore Industries is a vertically integrated firm with several divisions that operate as decentralized profit centers. Fillmore's Systems Division manufactures scientific instruments and uses the products of two of Fillmore's other divisions. The Board Division manufactures printed circuit boards (PCBs). One PCB model is made exclusively for the Systems Division using proprietary designs, while less complex models are sold in outside markets. The products of the Transistor Division are sold in a well-developed competitive market; however, one transistor model is also used by the Systems Division. The costs per unit of the products used by the Systems Division are as follows:
PCB Transistor
Direct materials 1,85 0,40
Direct labor 4,20 0,90
Variable overhead 2,40 0,70
Fixed overhead 0,85 0,75
Total Cost 9,30 2,75
The Board Division sells its commercial product at full cost plus a 30 percent markup and believes the proprietary board made for the Systems Division would sell for $12 per unit on the open market. The market price of the transistor used by the Systems Division is $3.45 per unit.
Required:
1. What is the minimum transfer price for the Transistor Division? What is the maximum transfer price of the transistor for the Systems Division?
2. Assume the Systems Division is able to purchase a large quantity of
transistors from an outside source at $2.75 per unit. Further assume that the Transistor Division has excess capacity. Can the Transistor Division meet this price?
3. The Board and Systems divisions have negotiated a transfer price of $11 per printed circuit board. Discuss the impact this transfer price will have on each division.