Question Completion:
A binding minimum wage
▼
does not change
raises
lowers
the market wage and
▼
increases
decreases
does not change
the market employment level.
Answer:
A binding minimum wage
▼
raises
the market wage and
▼
decreases
the market employment level.
Explanation:
This action of the government of setting the minimum wage above the current equilibrium wage will disrupt the equilibrium of labor demand and supply. Certainly, more labor will be available (the supply side will increase) while the demand for labor by firms or labor consumers will decrease. This reflects the market dynamics caused by the increased price (in the form of increased minimum wage) and the quantities of labor supplied and demanded.
The previous statement for your credit card had a balance of $690. You make a payment of $260 but you make additional purchases of $170. The card carries an APR of 24%. What is the finance charge for this month
Answer:
744 hope this helps
Explanation:
Gold Corp. sells office furniture. In 2020, it sold 200 desks for $500 each. For each desk sold, Gold Corp. distributed a 50% discount coupon for purchase of an office chair valid for two months. Based on historical experience, Gold Corp. expects that approximately 20% of the coupons will be utilized. The chairs purchased with the coupons are priced at $150 and normally discounted 10%. What would be the stand-alone sales price used by Gold Corp. for the coupon when allocating the $500 transaction price to the performance obligations
Answer:
Gold Corp.
The stand-alone sales price is $135
Explanation:
a) Data and Calculations:
Selling price of desks = $500 per unit
Selling price of chairs = $150 per unit
Combined price of desks and chairs = $650
50% discount coupon on chairs = $75 (50% * $150)
Normal discount price of chairs = $135 ($150 * 90%)
Combined price of desks and discounted chair = $575 ($500 + $75)
Allocation of transaction price:
Desk = $575 * $500/$635 = $452.76
Chair = $575 * $135/$635 = $122.24
Total = $575
Which of the following is an expense that results from the usage of a natural resource? A. depletion B. obsolescence C. depreciation D. amortization
Answer:
A. depletion
Explanation:
Depletion is provided as an expense for usage of natural resources like mines, quarries and oil wells.
We typically hear of the gains from trade coming through specialization wherein each nation produces more of and exports that good which it produces at relatively less cost, and produces less of and imports that good which it produces at relatively higher cost. Indeed, classical trade theory is based on the benefits from such specialization in production. But, what if the nation cannot move any resources from the production of one good to the production of other and therefore cannot specialize in production
Answer:
Generally theoretical models work only in theory. E.g. perfect competition models exist in theory but no market is really a perfect competition market.
The Ricardian model or the H-O model, or other trade models make the mistake of assuming that resources can be allocated at will and almost immediately, e.g. a fisherman can immediately become an engineer and start developing apps. Or a farmer that produces corn or rye (very popular examples) can suddenly start working at a factory producing bluejeans.
In real life, it doesn't happen. Also, trade models never consider natural trade barriers and extra costs related to trade. E.g. it is not the same to sell $10,000 worth of corn (you need a very large truck) than selling $10,000 worth of jeans (all you need is a small delivery van). In real life, trade is not simple, it is actually extremely complicated.
E.g. everyone knows that manufacturing goods in America is not efficient, at best companies can be less inefficient, but no manufacturing company in America is really efficient if we compare them to foreign companies. Even people who work in manufacturing industries know this, but they want to continue working in them. They want the companies to keep producing in America and they want to keep their jobs. Not everyone in America has a college degree in computer programming, finances, is able to design robots, or is a doctor, etc.
In real life, efficient industries have to exist alongside inefficient industries, and the whole economy suffers from it. But it is unavoidable. In the long run, the economy will eventually shift resources to more efficient industries, but it takes a long time, and a lot of people and companies will be against it. E.g. every year there are less shoe manufacturers in America, and eventually sometime in the future there will be none.
An upward-sloping labor supply curve implies that A) a firm can always hire more workers, even without increasing the wage. B) more workers are willing work when wages are low. C) more workers are willing to work as the market wage increases. D) the labor supply is fixed. E) there is a continuously increasing demand for labor.
Answer:
C) more workers are willing to work as the market wage increases.
Explanation:
As we see in the question that there is an increase in upward sloping of labor supply curve that means more and more workers are ready or willing to work in that case where the wages of the market increased
Therefore according to the options, the option C is correct as it mets the current situation and the same is to be considered
Hence, all other options are incorrect
Southern Atlantic Distributors began operations in January 2021 and purchased a delivery truck for $40,000. Southern Atlantic plans to use straight-line depreciation over a four-year expected useful life for financial reporting purposes. For tax purposes, the deduction is 50% of cost in 2021, 30% in 2022, and 20% in 2023. Pretax accounting income for 2021 was $200,000, which includes interest revenue of $28,000 from municipal governmental bonds. The enacted tax rate is 25%. Assuming no differences between accounting income and taxable income other than those described above:
Answer:
1. Dr Income tax expense $43,000
Cr Deferred tax liability $2,500
Cr Income tax payable $40,500
2. $157,000
Explanation:
1. Preparation of the Journal entry to record income taxes in 2021
First step is to record income taxes in 2021
TAX RATE % TAX $ RECORDED AS
Pre-tax accounting income $200,000
Less Permanent difference ($28,000)
Income subject to Taxation
$172,000 ×25% $43,000 Income tax expense
Less Temporary difference
($10,000) ×25% - $2,500 Deferred tax liability
Income taxable in current year
$162,000 ×25% $40,500 Income tax payable
Calculation for Temporary difference
Depreciation in 2021 as per taxation=$40,000×50%
Depreciation in 2021 as per taxation=$20,000
Depreciation as per straight line=$40,000/4
Depreciation as per straight line=$10,000
Using this formula to calculate the Temporary difference
Temporary difference=Depreciation as per straight line-Depreciation in 2021 as per taxation
Let plug in the formula
Temporary difference=$20,000-$10,000
Temporary difference=$10,000
Preparation of Southern Atlantic Distributors JOURNAL ENTRY
Dr Income tax expense $43,000
Cr Deferred tax liability $2,500
Cr Income tax payable $40,500
(Being to record income tax expense)
2. Calculation for Southern Atlantic Distributors Net income
Income before income taxes $200,000
Less Income tax expense
Deferred tax liability ($2,500)
Income tax payable ($40,500)
Net income $157,000
($200,000-$2,500-$40,500)
Therefore 2021 Net income is $157,000
So I’m 13. I have a small business, and 2 months ago my mom canceled my credit card. I get paid through credit card.Since she canceled my card, I don’t have where to get paid. How can i get a credit card without my mom knowing?
Answer:
so if you are a minor you have to have a parent or guardian sign off to get you a card, I had the same issue my mom refused to get me a card even tho i worked. I just got my dad to sign on it because then my mom couldnt do anything about it because her name wasnt in it. I hope this helps, and what type of business do you have.
what is supply chain management
Answer:
the management of the flow of goods and services, involves the movement and storage of raw materials, of work-in-process inventory, and of finished goods as well as end to end order fulfilment from point of origin to point of consumption
Explanation:
A charitable foundation has $500,000 invested in an account that earns 7%. The foundation has promised to begin making annual payments to beneficiaries in one year, and the first payment will be $25,000. The foundation has promised that future payments will grow at a constant rate forever. At what rate can the foundation afford to increase payments assuming that it makes no additional deposits into the account?
Answer:
2%
Explanation:
Calculation for the rate that the foundation can afford to increase payments
Using this formula
Growth rate=Return-First payment/ Amount Invested
Let plug in the formula
Growth rate=7%- (25,000/500,000)
Growth rate=7%-5%
Growth rate=2%
Therefore the rate that the foundation can afford to increase payments will be 2%
Portfolio Beta is the ______________ average of the Betas of the investments included in the portfolio.
Answer:
Weighted
Explanation:
Beta can be defined as a measure of the volatilities of a specific portfolio such as stocks.
Portfolio Beta is the weighted average of the Betas of the investments included in the portfolio.
ere are simplified financial statements for Watervan Corporation:
INCOME STATEMENT
(Figures in $ millions)
Net sales $
888.00
Cost of goods sold
748.00
Depreciation
38.00
Earnings before interest and taxes (EBIT) $
102.00
Interest expense
19.00
Income before tax $
83.00
Taxes
17.43
Net income $
65.57
BALANCE SHEET
(Figures in $ millions)
End of Year Start of Year
Assets
Current assets $
376
$
326
Long-term assets
272
229
Total assets $
648
$
555
Liabilities and shareholders’ equity
Current liabilities $
201
$
164
Long-term debt
115
128
Shareholders’ equity
332
263
Total liabilities and shareholders’ equity $
648
$
555
The company’s cost of capital is 8.5%.
a. Calculate Watervan’s economic value added (EVA). (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.)
b. What is the company’s return on capital? (Use start-of-year rather than average capital.) (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)
c. What is its return on equity? (Use start-of-year rather than average equity.) (Enter your answer as a percent rounded to 2 decimal places.)
d. Is the company creating value for its shareholders?
Answer:
income statements okay
Explanation:kokay
You are training a new employee at a credit card company on how to reply to customers when their credit application has been denied. What points should you cover in your training? Check all that apply. How to offer no explanation of the reason for a credit refusal How to avoid disclosures that could cause a lawsuit How to discourage future business with denied applicants How to use language that doesn’t cause hard feelings
Answer:
How to avoid disclosures that could cause a lawsuit , How to use language that doesn’t cause hard feelings
Explanation:
While training a new employee at a credit card company on how to reply to customers when their credit application has been denied, following points should be covered in the training :
How to avoid disclosures that could cause a lawsuit , How to use language that doesn’t cause hard feelings
Describe how a manager who derives satisfaction from both income and shirking allocates a 10-hour day between these activities when paid an annual, fixed salary of $110,000.
Incomplete question. The remaining part reads;
"When this same manager is given an annual, fixed salary of $110,000 and 3 percent of the firm's profits—amounting to a total salary of $155,000 per year—the manager chooses to work 8 hours and shirks for 2 hours. Given this information, which of the compensation schemes does the manager prefer?"
Answer:
The scheme with a fixed payment of $110,000 and a percentage of profits.
Explanation:
It can be observed that the scheme with a fixed payment of $110,000 and a percentage of profits lead to a reduction of working hours by the manager.
However, to show that he [the manager] prefers the later compensation, we are told that he "shirks for 2 hours."
Cornerstone Exercise 5-35 (Algorithmic) Notes Receivable Link Communications programs voicemail systems for businesses. For a recent project, they charged $135,000. The customer secured this amount by signing a note bearing 11% interest on February 1, 2019. Required: 1. Prepare the journal entry to record the sale on February 1, 2019. fill in the blank 8dca2303e075fa6_2 fill in the blank 8dca2303e075fa6_4 Record sale 2. Determine how much interest Link will receive if the note is repaid on December 1, 2019. Round your answer to the nearest whole dollar. $fill in the blank 0365ff0a4046fbb_1 3. Prepare Link's journal entry to record the cash received to pay off the note and interest on December 1, 2019. If an amount box does not require an entry, leave it blank. fill in the blank a9105402601503d_2 fill in the blank a9105402601503d_3 fill in the blank a9105402601503d_5 fill in the blank a9105402601503d_6 fill in the blank a9105402601503d_8 fill in the blank a9105402601503d_9 Record collection of note
Answer:
1) February 1, 2019, service revenue
Dr Notes receivable 135,000
Cr Service revenue 135,000
2) if the note is collected on December 1, 2019, the amount of interest revenue = $135,000 x 11% x 10/12 months = $12,375
3) December 1, 2019, note receivable and interest collected
Dr Cash 147,375
Cr Notes receivable 135,000
Cr Interest revenue 12,375
Lilliput is a country that has closed borders and does not import or export any goods or services; hence, they do not worry about trade with other countries. Total spending for the federal government of Lilliput for the last fiscal year was $4.71 billion. The country collected $4.83 billion in taxes during this same fiscal year. Assume government transfers were zero. Based on this information, what is Lilliput's budget balance
Answer: $0.12 billion
Explanation:
Based on the information given in the question:
Total spending for Lilliput last fiscal year = $4.71 billion
Tax collected(Revenue)= $4.83 billion
Government transfers = $0
Lilliput's budget balance based on the information provided will be:
= (Taxes - Government transfers) - Government expenditures
= ($4.83 billion - $0) - $4.71 billion
= $0.12 billion
A stock just paid a dividend of $4.01 and is expected to maintain a constant dividend growth rate of 4.7 percent indefinitely. If the current stock price is $66, what is the required return on the stock?
Answer:
11.06%
Explanation:
According to the given situation, the computation of the required return on the stock is shown below:-
Required rate of return = Current Dividend × (1 + growth) ÷ Current Price + Growth
= $4.01 × (1 + 4.7%) ÷ 66 + 4.7%
= 11.06%
Therefore for computing the required rate of return we simply applied the above formula.
MATURITY RISK PREMIUM An investor in Treasury securities expects inflation to be 2.1% in Year 1, 2.7% in Year 2, and 3.65% each year thereafter. Assume that the real risk-free rate is 1.95% and that this rate will remain constant. Three-year Treasury securities yield 5.20%, while 5-year Treasury securities yield 6.00%. What is the difference in the maturity risk premiums (MRPs) on the two securities; that is, what is
Answer and Explanation:
Please find answer and explanation attached
Nash Company reported 2020 net income of $152,900. During 2020, accounts receivable increased by $17,160 and accounts payable increased by $9,582. Depreciation expense was $48,000. Prepare the cash flows from operating activities section of the statement of cash flows. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) NASH COMPANY Cash Flow Statement choose the accounting period select an opening section name select an item $enter a dollar amount Adjustments to reconcile net income to select a subsection name select an item $enter a dollar amount select an item enter a dollar amount select an item enter a dollar amount enter a subtotal of the adjustments select a closing section name $enter a total amount for the section
Answer:
$112,478
Explanation:
Cash flows from operating activities
Net income $152,900
Adjustments to reconcile net income
Depreciation expense $48,000
Increase in accounts payable $9,582
Increase in accounts receivable $ (17,160) $40,422
Net cash provided by operating activities $112,478
Lawn Master Company, a manufacturer of riding lawn mowers, has a projected income for the coming year as follows: Sales $ 44,000,000 Operating expenses: Variable expenses $ 28,600,000 Fixed expenses 7,700,000 Total expenses 36,300,000 Operating profit $ 7,700,000 Required: 1. Determine the breakeven point in sales dollars. 2. Determine the required sales in dollars to earn a before-tax profit of $9,152,500. (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.) 3. What is the breakeven point in sales dollars if the variable expenses increases by 9%
Answer:
Please see attached
Explanation:
• Break even point in sales dollars $22,000,000
• Required sales in dollars $48,150,000
• Break even point in sales dollars $34,010,600
See as attached, detailed solution to the questions above.
Answer:
Results are below.
Explanation:
Giving the following information:
Sales $44,000,000
Variable expenses $ 28,600,000
Fixed expenses 7,700,000
To calculate the break-even point in dollars, we need to use the following formula:
Break-even point (dollars)= fixed costs/ contribution margin ratio
Break-even point (dollars)= 7,700,000 / [(44,000,000 - 28,600,000)/44,000,000]
Break-even point (dollars)= $22,000,000
Now, we incorporate the desired profit of $9,152,500
Break-even point (dollars)= (fixed costs + desired profit) / contribution margin ratio
Break-even point (dollars)= (7,700,000 + 9,152,500) /0.35
Break-even point (dollars)= $48,150,000
Finally, the new break-even point in dollars:
Total variable cost= 28,600,000*1.09= 31,174,000
Break-even point (dollars)= 7,700,000 / [(44,000,000 - 31,174,000) / 44,000,000]
Break-even point (dollars)= 7,700,000 / 0.2915
Break-even point (dollars)= $26,415,094.34
Your employer contributes $55 at the end of each week to your retirement account. The account will earn a weekly interest rate of .17 percent. How much will the account be worth when you retire in 25 years?
Answer:
FV= $262,014.43
Explanation:
Giving the following information:
Weekly deposit= $55
Interest rate= 0.0017
Number of periods= 25*52= 1,300
To calculate the future value, we need to use the following formula:
FV= {A*[(1+i)^n-1]}/i
A= weekly deposit
FV= {55*[(1.0017^1,300) - 1]} / 0.0017
FV= $262,014.43
Suppose you won a $77,000 after-tax cash prize in the lottery. You want to start a new business that you think will lose money for a while, after which it will be up and running and bringing in big bucks. You plan to invest the funds immediately in securities that are expected to earn 8% per year. Suppose you would need only $19,000 per year during the start-up period. How long could you operate before you would require cash from the new business, i.e., how long could you receive payments of $19,000 per year? The first withdrawal will be made a year from today, and your answer will contain a fraction of a year.
Answer:
The right solution is "5.09 years".
Explanation:
The given values are:
Lottery amount
= $77,000
Withdrawal
= $19,000
Rate
= 8%
The number of withdrawal will be:
⇒ [tex]NPER(Rate,-withdrawal,lottery \ amount)[/tex]
On putting the values, we get
⇒ [tex]NPER(8 \ percent,-19000,77000)[/tex]
⇒ [tex]5.09 \ years[/tex]
g You own shares of a company that reported after-tax earnings of $29 million and has issued 2 million shares of stock. The company's stock price is $5.09 per share. Calculate the company's price-earnings (PE) ratio.
Answer: 0.35
Explanation:
The Price to Earnings ratio is used to value companies and is calculated by dividing the company's stock price by its earnings per share.
Earnings per share = 29,000,000/2,000,000 shares
= $14.50
PE ratio = Share price / Earnings per share
= 5.09/14.50
= 0.35
Ford Motor Company has issued 8% convertible debentures, convertible at a 25:1 ratio. Currently the debenture is trading at 110. The stock is trading at 38. What is the conversion price of the stock
Answer:
40
Explanation:
Calculation for the conversion price
Based on the information given we were told that the company's convertible ratio is 25:1 which simply means that 1,000 par will be divided by the covertible ratio .
Hence,
Conversion price of the stock = 1,000/25
Conversion price of the stock = 40
Therefore the Conversion price of the stock will be 40
explain the utility of statistics as a manegerial tool
Answer:
"Statistics is a board of method for maintaining knowledge. It is a simple and economical method to find the means and valuable data even for large numbers. In a managers life it is a very helpful tool to do analysis and making business growth values and make right forecast".
Explanation:
The average price for regular gasoline at U.S. pumps fell almost 4 cents in March to $2.50 a gallon. The price of crude oil dropped to $43.46 per barrel on March 17, the lowest since March 2009.
Answer: C. lower the cost of producing gasoline and increase the supply of gasoline
Explanation:
Gasoline is derived from the distillation of crude oil which means that Crude oil is the main raw material in the production of gasoline. This means that if crude oil sees a reduction in price, input costs for gasoline will decrease as well.
Producers of gasoline will take advantage of this to buy more crude oil and therefore process and make more gasoline which will increase the supply of gasoline in the market and reduce its price.
f the inverse demand function for toasters is p = 60 - Q , what is the consumer surplus if price (p) is $30?
Answer and Explanation:
A consumer surplus is the gain a consumer makes by paying less than he is willing to pay for a product. Example if a consumer is willing to pay $300 for a mobile phone but pay $200 for the phone, the consumer surplus is $100
Given that the demand function is P=60-Q
And price is 30
Therefore consumer surplus is, substitute 30 in p
30=60-Q
30-60=-Q
-30=-Q
Q=-30/-1
Q=30
Therefore consumer surplus = 30
Mattress Wholesalers, Inc. is constantly trying to reduce inventory in its supply chain. Last year, cost of goods sold was $ million and inventory was $ million. This year, costs of goods sold is $ million and inventory investment is $ million. a) What was its weeks of supply last year? nothing weeks (round your response to two decimal places). b) What is its weeks of supply this year? nothing weeks (round your response to two decimal places). c) Is Mattress Wholesalers making progress in its inventory reduction effort? Since the number of weeks that cover the supply has ▼ decreased not changed increased , Mattress Wholesalers is making ▼ negative progress no progress progress in its inventory-reduction effort.
Answer:
A. Weeks supply= 10.7
B. Weeks supply= 9.53
C. Yes
DECREASED, PROGRESS
Explanation:
A. Calculation for last year’s weeks of supply
First step is to find the Average cost of sold good on week basis
Using this formula
Average cost of sold good on week basis =Cost of goods sold /Numbers of weeks in a year
Let plug in the formula
Average cost of sold good on week basis= $7.54 million/ 52
Average cost of sold good on week basis= $ 0.145 million
Last step is to find last year Weeks supply using this formula
Last year Weeks supply=Investment in inventory/ Average cost of sold good on week basis
Let plug in the formula
Last year Weeks supply=$1.46/0.145
Last year Weeks supply= 10.7
B. Calculation for weeks supply this year?
Using this formula
Average cost of sold good on week basis =Cost of goods sold /Numbers of weeks in a year
Let plug in the formula
Average cost of sold good on week basis= $8.62 million/ 52
Average cost of sold good on week basis= $ 0.165769 million
Last step is to find this year Weeks supply using this formula
This year Weeks supply=Investment in inventory/ Average cost of sold good on week basis
Let plug in the formula
This year Weeks supply=$1.58/0.165769
This year Weeks supply= 9.53
C. Yes, Mattress Wholesalers is making progress in its inventory reduction effort .
Since the numbers of weeks that cover the supply had DECREASED, Wholesalers is making PROGRESS in its inventory reduction effort
For an effective frame, the primary business message should be approximately ______ words in length.
Answer:
10 to 15
Explanation:
Business messaging in accounting can be described as a set of channels that provide means by which the firms/ company and the consumer can have effective communication.
The primary business message is very essential in business, it must reflect clarity as well as simplicity, it enables company to pass their overarching information to the consumer, they are intentional content. In a situation whereby operations in a company needed relocation, primary message is passed. It should be noted that For an effective frame, the primary business message should be approximately 10 to 15 words in length.
Hello!
For an effective frame, the primary business message should be approximately 10 to 15 words in length.
By how much does GDP rise in each of the fol- lowing scenarios? Explain. (a) A computer company buys parts from a local distributor for $1 million, assembles the parts, and sells the resulting computers for $2 million. (b) A real estate agent sells a house for $200,000 that the previous owners had bought 10 years earlier for $100,000. The agent earns a commission of $6,000. (c) During a recession, the government raises unemployment benefits by $100 million. (d) A new U.S. airline purchases and imports $50 million worth of airplanes from the European company Airbus.
Answer:
a. GDP increases by $2 million. Only final good and services are included in GDP. the parts used in making the computer represents intermediate goods. Intermediate goods are not included in the calculation of GDP.
b. GDP would increase by $6000. Only goods produced in the current year are included in GDP. The house wasn't built in the current year so it would not be included in GDP. So, only the agent's fees would be included
c. 0 Transfer payments are not included in GDP
d.0. Imports would increases and net export would decrease. Also, business spending would increase. Taking these two effects together, there would be no change in GDP
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
Net export = exports imports
When exports exceed import there is a trade deficit and when import exceeds import, there is a trade surplus.
Items not included in the calculation off GDP includes:
services not rendered to oneself
Activities not reported to the government
illegal activities
sale or purchase of used products
sale or purchase of intermediate products
Which of the following is included in the calculation of GDP? a. The purchase of tutoring services from a tutor who holds citizenship outside the country but resides within the country. b. The purchase of a new edition of a foreign textbook that was produced in a different nation. c. The purchase of ink and paper supplies by a textbook company for the production of new textbooks. d. The purchase of a used textbook from a friend who took the same class last year.
Answer:
a. The purchase of tutoring services from a tutor who holds citizenship outside the country but resides within the country
Explanation:
Gross domestic product knowns as GDP provide the total market value of all produced goods/service in a country within particular period of time. It allows to know the Economic growth rate of a particular country.
GDP can be analysed an calculated using three most common ways ;it can be through
1)expenditures
2)production
3) incomes.
It can be calculated by by the summation of all money spent by government or consumer at a particular period of time. Hence nominal GDP is the value.It gives measures on production. It should be noted that The purchase of tutoring services from a tutor who holds citizenship outside the country but resides within the country is included in the calculation of GDP.
