Answer:
1. Maintain accurate financial records
2. Pay suppliers, customers, and debts on time
3. Ensure the prompt collection of receivables
An amortized loan is repaid with annual payments which start at $400 at the end of the first year and increase by $45 each year until a payment of $1,480 is made, after which they cease. If interest is 4% effective, find the amount of principal in the fourteenth payment
If the amortized loan repaid annually with $400, with interest of $45 and rate of 4 percent, the amount of principal in the last month is $530.18
How to solve for the principal amountPayment at the end of year 1 = 400
Year increments = 45
Last Payment made = 1480
years left after first payment
[tex]\frac{1480-400}{45} = 24[/tex]
= (1480 - 400) / 45 = 24
Length of the loan = 24 plus 1 = 25 years( the 25th year payment is 1480)
The payment made in the 14th year
400 + (13x45)
= 985
Calculation of Loan balance After 13 Years
25 - 13 = 12
formula for the present value of the loan = P*[1 - (1+r)^-n / r ] + G*[ ((1+r)^n - 1 / r^2*(1+r)^n) - n / r*(1+r)^n ]
P = amount of loan In 14th Year
= 985
r = 4%
n = Number of years = 12
G = 45
We have to put the values in the formula
present value loan balance = 985*[1 - (1+4%)^-12 / 4% ] + 45*[((1+4%)^12 - 1 / 4%^2*(1+4%)^12) - 12 / 4%*(1+4%)^12 ]
Balance after a period of 13 years = 11,370.45
Amount of interest to be paid in the 14th period = Loan balance * Interest rate
= 111370.45 x 0.04
= $454.82
Principal amount = Payment - Interest
Payment = 985
P = 985 - 454.82
Therefore the Principal is = $530.18
The amount of principal after the 14th payment is $530.18
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Rachel went on a mini vacation to the Rocky Mountains for a week. When she returned home, she opened the billing statement for her credit card account. She found that there were transactions on her credit card within the past week in her city that she couldn’t identify. What has Rachel become a victim of?
Answer:
Credit Card Fraud
Explanation:
If a customer or an employee is involved in a minor accident on the business premises, an employee is the businesses should do what
If a customer or an employee is involved in a minor accident, the case should be reported to the Health, Safety and Environmental department.
What is an Accident?An accident is an unplanned event that can lead to the injury or death of someone. It can also lead to the destruction of properties. This is an unintended, unexpected event that might have resulted from the carelessness of an individual or that might not have been caused by an individual.
If a minor accident should occur in a business premises, the case should be reported to the HSE department and appropriate actions should be taken so as to avoid a future occurrence.
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Dent, Inc., has a beginning inventory balance of $170,000 and purchased $320,000 worth of merchandise during the first 6 months of the calendar year. Dent also sold merchandise with a cost of $410,000 during the first 6 months of the calendar year. Under the periodic inventory method, the balance in Dent's Inventory account (per the general ledger) at June 30 is $ .
Under the periodic inventory method, the balance in Dent's Inventory account (per the general ledger) at June 30 is $170,000.
What is Periodic inventory method?Periodic inventory method can be defined as the process where inventory are recorded periodically.
Based on the information given the balance in Dent's Inventory account at June 30 will be $170,000 which is the beginning inventory balance reason being that under the periodic inventory method inventory are not record as the occur but are recorded at the end of accounting period.
Inconclusion under the periodic inventory method, the balance in Dent's Inventory account (per the general ledger) at June 30 is $170,000.
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A(n) ____________________ account is used to record increases in owner's equity from the sale of goods or services.
Answer:
A trading profit and loss account
what generally happens to the purchasing power of cash over time?
Answer:
it goes down.
Explanation:
back in the 1980s or whatever, someone working a job at a gas station could provide decently comfortably for their family... that is absolutely not true as of today. you will be out on the street starving if you work one job, that is a minimum wage job.
Answer:
A. It doubles.
Explanation:
Suppose the following list of events describes all of the economic activity resulting from an increase in government spending. Suppose that at each step after the initial one, the marginal propensity to consume is 0. 75, and there are no taxes Step 0. The government spends $5,000 on meat to host a very large dinner for foreign diplomats.
Step A. The butcher takes the income daughter. Arned by selling the meat, saves some, and spends the rest on a wedding cake for his
Step B. The baker who produced the wedding cake saves some of her earnings and uses the rest to purchase beautiful candlesticks as gifts for all of her friends.
Step C. The local candlestick maker saves some of his revenue for retirement and spends the rest on building materials to improve his house.
Instructions:
Modify the settings in the interactive tool to represent this event. Then click "Spending Rounds" and use the table to answer the following questions. Round answers to the nearest cent, if necessary
1. How much does the baker earn for selling the cake? $
2. How much does the baker spend on candlesticks? $
1. The amount that the baker earns for selling the cake is $3,750 based on the butcher's marginal propensity to consume of 0.75 of his income ($5,000 x 0.75).
2. The amount that the baker spends on candlestick is $2,812.50 based on the candlestick maker's marginal propensity to consume 0.75 of his income ($3,750 x 0.75).
What is the marginal propensity to consume?Economics defines the marginal propensity to consume (MPC) as the proportion of the income that a consumer spends on the immediate consumption of goods and services.
The marginal propensity to consume (MPC) is the opposite of the marginal propensity to save (MPS). Both economic indexes describe how consumption or savings change, given some changes in income.
Data and Calculations:Marginal Propensity to Consume = 0.75
Taxes = 0%
Government spending on meat = $5,000
Step A:
Amount spent by butcher on daughter's wedding cake = $3,750 ($5,000 x 0.75).
Step B:
Amount spent on the purchase of beautiful candlesticks by baker for producing the wedding cake = $2,812.50 ($3,750 x 0.75).
Step C:
Amount spent by the local candlestick maker on building materials to improve his house = $2,109.38 ($2,812.50 x 0.75).
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Jessie's business sells souvenirs and craft items to tourists in Myrtle Beach, South Carolina. This is an example of a ____ business.
It should be noted that Jessie is into a Distribution business when she sells souvenirs and craft items to tourists in Myrtle Beach, South Carolina.
What is Distribution business all about?Distribution in business can be regarded as an activity of both selling and delivering products and services from manufacturer to customer.
It often called product distribution and it helps to ensure that customers and all members of the distribution channel are happy.
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QUESTION 1 of 10: You manage a staff of 9 employees. Each employee has equally done an excellent job this year. If upper management has allotted a bonus for your department of $30,000, what dollar bonus amount would each employee get if divided equally (round to nearest dollar
The amount that each employee will get out of the bonus to your department will be $3,000.
What will each employee get?You manage a staff of 9 employees in your department which means that there are 10 people in total.
The amount that each person will get from the bonus will therefore be:
= 30,000 / 10 employees
= $3,000
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A voucher is an internal document or file: Multiple Choice Used to prepare a bank reconciliation. Used as a substitute for an invoice if the supplier fails to send one. Used to collect information needed to control cash payments and to ensure that transactions are properly recorded. Takes the place of a bank check. Used by large companies to control cash receipts
Voucher is used as a substitute for an invoice if the supplier fails to send one and to collect information needed to control cash payments and to ensure that transactions are properly recorded.
What is Voucher?Voucher is a type of document used by a company, firm, organization or industry. It is used to record cash or money to be paid.
Different department in an organization also use it and it is important for backup.
Therefore, a Voucher is used as a substitute for an invoice if the supplier fails to send one and to collect information needed to control cash payments and to ensure that transactions are properly recorded
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What is the role of the three questions of economics?
Answer: 1. what to produce? 2. How to produce? 3. what consumes what is produced?
Explanation: Hope this helps :)
QUESTIUN S What is a premium?
Answer:
a premium is a price paid for higher and better quality value
Explanation:
the word premium comes from the Latin premium which means prize or reward hope this helps!!
The four overarching strategies to create and deliver value and to develop sustainable competitive advantages include locational, customer, operational and _______ excellence.
The four overarching strategies to create and deliver value and to develop sustainable competitive advantages include locational, customer, operational, and product excellence.
Indeed, the four overarching strategies for developing, creating, and delivering customer value and achieving sustainable competitive advantage are:
Customer Excellence.Operational Excellence.Product Excellence.Locational Excellence.What are competitive advantages?Competitive advantages are the factors that give the company the edge to produce goods or services better or more cheaply than its rivals.
The four recognized competitive advantages include cost leadership, differentiation, defensive strategies, and strategic alliances.
Thus, the four overarching strategies to create and deliver value and to develop sustainable competitive advantages include locational, customer, operational, and product excellence.
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The demand curve for oil shows: a. the quantity demanded of oil at different oil prices. b. the demand for oil at different prices of other goods. c. the demand for oil when there is a surplus or shortage. d. the quantity demanded of oil at different income levels.
The demand curve for oil shows the quantity demanded of oil at different oil prices.
What is the demand curve for a good?The demand curve for a good is the relationship between price of the good and quantity demanded of the good.
The demand curve is negatively sloped because the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.
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When units produced equals units sold, income under variable costing as compared to net income under absorption costing will be
Answer:
When units produced exceed units sold, income under absorption costing is higher than income under variable costing.
Explanation:
When units produced exceed units sold, income under absorption costing is higher than income under variable costing.
Adjusting entries to record expenses incurred in the current period, that will be paid in a future period, is described as
Answer: accruing unpaid expenses
Explanation:
brown corporation earns 720000 and pays cash dividends of 240000 during 2021. Dexter corporation owns 3000 of the 10000 outstanding shares of brown how much investment income should dexter report
If Dexter corporation owns 3000 of the 10000 outstanding shares of brown the amount of investment income should dexter report is :$1,104,000.
Investment incomeUsing this formula
Investment income=Beginning balance+(Earning×Outstanding shares percentage)-(Cash dividend×Outstanding shares percentage)
Let plug in the formula
Investment income=$960,000 + ($720,000 ×3,000/10,000) - ($240,000 × 3000/10000)
Investment income=$960,000 + ($720,000 × .3) - ($240,000 × .3)
Investment income=$1,104,000
Inconclusion the amount of investment income should dexter report is :$1,104,000.
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What role are textiles believed to have played in Incan culture? a. Used as decorative clothing used for rituals b. Used to identify a person’s profession c. Indicated a person’s ethnic identity and social rank Please select the best answer from the choices provided A B C
The role textiles believed played in Incan culture was in indicating a person’s ethnic identity and social rank.
What is Culture?
This can be defined as the way of life and is characterized by their language, clothing etc.
Incan culture involved ethnic groups and social ranks having their distinct clothings which is why option C was chosen as the most appropriate choice.
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Answer:
C just trust me
Explanation:
If the value of the goods and services a country produces increases while its
population stays the same, which statement must be true?
A. The country's unemployment rate has decreased.
B. The country's total GDP has decreased.
C. The country's per capita GDP has increased.
D. The country's rate of inflation has increased.
If the value of the goods and services a country produces increases while its population stays the same, "the country's per capita GDP has increased."
This is based on the idea that per capita GDP is a form of GDP measure that divides the total GDP, particularly a country with the population or number of people living in that country.
Therefore, when the value of the goods and services a country produces increases while its population stays the same, "the country's per capita GDP has increased."
Hence, in this case, the correct answer is option C. "the country's per capita GDP has increased."
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Answer: The country's per capita GDP has increased. So "C" is right.
Explanation: Just took the quiz
If a nonbinding price floor is imposed on a market, then the a. quantity sold in the market will stay the same. b. price in the market will increase. c. price in the market will decrease. d. quantity sold in the market will decrease.
The thing which would happen if a nonbinding price floor is imposed on a market is that the quantity sold in the market will stay the same
What is a NonBinding Price Floor?This refers to the price which is significantly lower than the equilibrium market price.
Hence, when a nonbinding price floor is imposed on a market, then this simply means that the quantity sold in the market will stay the same because they are operating way below the surplus.
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Inside Auto, an automobile parts manufacturer, is headquartered in South Carolina. The firm is shifting its operations from South Carolina to India due to lower labor costs and the availability of required skills in India. This scenario indicates that Inside Auto is engaging in the practice of
This scenario indicates that Inside Auto is engaging in the practice of Outsourcing and offshoring.
What is Outsourcing?
This refers to the practice of getting cheap labor from other places where there are high poverty rates but also good technical skills.
Hence, we can note that because Inside Auto is shifting its operations from South Carolina to India with the aim of getting lower labor costs, then this is an example of outsourcing and offshoring.
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________________________ 1. defense agreements among nations ________________________ 2. an understanding among nations ________________________ 3. information designed to influence people ________________________ 4. the line of battle ________________________ 5. an agreement to end the fighting ________________________ 6. the gathering of resources and preparations for war ________________________ 7. people who believe industries should be publicly owned ________________________ 8. a person opposed to the use of violence ________________________ 9. opposition ________________________ 10. spying ________________________ 11. secret action to damage a war effort ________________________ 12. payment for damage caused by war
The terms explained below relate to the International Agreement and Political System which are usually derived from the occurrence of international conflict or war.
Terms Used International Agreement Political System1. Alliance system refers to defense agreements among nations.
The Alliance system also refers to international defense treaties.
2. Entente is an understanding among nations.
Entente can also be referred to as a treaty between nations.
3. Propaganda refers to information designed to influence people.
Therefore, information intended to persuade individuals is referred to as propaganda.
4. Front refers to the line of battle.
The front also refers to the combat line.
5. Armistice refers to an agreement to end the fighting.
Armistice can also be referred to as a cease-fire agreement.
6. Mobilization refers to the gathering of resources and preparations for war.
Mobilization, therefore, refers to the act of accumulating resources and making military preparations for war.
7. Socialists are people who believe industries should be publicly owned.
Socialists, therefore, think that industries should be owned by the government.
8. Pacifist is a person opposed to the use of violence.
A pacifist is someone who is against the use employment of force.
9. Dissent refers to opposition.
10. Espionage refers to spying.
11. Sabotage refers to a secret action to damage a war effort.
Sabotage is therefore a covert operation used to harm a combat effort.
12. Reparation refers to payment for damage caused by war
This implies that the term "reparation" refers to the payment of damages incurred as a result of a war.
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According to the quantity theory of money, if the money supply is $40 billion, real output is $100 billion, and the price level is 1.2, what is the velocity of money
According to the quantity theory of money, the velocity of money is 3.
What is the quantity theory of money?The quantity theory of money is an economy theory that arose in the 16th century among monetary economists. The quantity theory of money postulates that the price of goods and services in an economy is directly proportional to the money supply and velocity.
Quantity theory of money = price x real output = money supply x velocity
Velocity = ( price x real output / money supply)
Velocity = (100 x 1.2) / 40 = 3
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If a person wants to work from home in the Business, Management and Administrative careers, what is required?
O a cubicle to keep the person on task
0 a private office to protect confidential information
proper technology to keep the person connected
proper travel arrangements to meet with customers
Answer:
proper technology to keep the person connected
Explanation:
Working from home entails accessing the office remotely. The employee gets connected to the company's private network while at home. A good internet connection is required for the employee to be connected to the office systems while at home.
Apart from connectivity, they may need a virtual private network application to access the company's private network. The employee's home computer will need configuration to access office applications. Proper technology is, therefore, required to keep an employee connected.
Answer:
C) proper technology to keep the person connected
Explanation:
According to the MLA format, which best demonstrates the similarities and differences between the citations of a magazine and a book?
Both require the title and author, while magazines require the editor of the magazine.
Both require a date of publication, while magazines require the page number of the article.
Both require the format of the book, while books require the page number of the information.
Both require a location of publication, while books require the edition of the book if there is more than one.
Answer:
Both require a date of publication, while magazines require the page number of the article.
Explanation:
Modern Language Association or MLA format is one style of providing citations in academic works. This style of citation or formatting one's papers is used majorly in many universities all around the world and is regarded as one of the most accepted styles to be used.
According to this style, providing citations for both a magazine and a book requires the date of publication of the book/ article/ magazine. At the same time, magazines also require the page number of the article from which the quote is taken or used as a source.
Thus, the correct answer is the second option.
Answer:
B
Explanation:
True or False: If you don't use online banking, it isn't necessary to review the debits and credits on your monthly bank statement for accuracy.
Answer:false
Explanation
Bushra Co. replaced a $1,000 account payable balance to Elin Co. with a 120-day, $1,000 note bearing 8% annual interest. Bushra's entry to record this transaction would include a credit to which account
Bushra Co.'s entry to record this transaction, replacing a $1,000 account payable balance to Elin Co. with a 120-day, $1,000 note bearing 8% annual interest, would include a credit to 8%, 120-day Note Payable in the sum of $1,000.
What is the correct journal entry to open a liability account?To open a liability account, such as the 8%, 120-day Note Payable, is to debit the account that receives the value and credit the liability account.
In this instance, the earlier Accounts Payable account will be debited with $1,000, while the new Note Payable account will be credited with $1,000.
Thus, Bushra's entry to record the transaction would include a credit to 8%, 120-day Note Payable.
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Answer:notes payable
Explanation:
The Nobel Prize-winning economist Oliver Hart once said, "If we know the marginal social cost [of pollution] emissions, a tax is better, but if we know the optimal quantity, cap and trade is better. " Given this statement and the knowledge of ways governments can intervene in markets, evaluate the following statement:
Any outcome that can be achieved by taxing can also be accomplished by establishing a quota.
This is because
a. If we know the marginal social cost, we can set the optimal quantity equal to the optimal price. If we know the optimal quantity, we can set a quota equal to the optimal price.
b. If we know the marginal social cost, we can set the tax so that price is equal to the optimal price. As a result, the optimal quantity will be achieved. If we know the optimal quantity, we can set a quota and the market will find the optimal price.
c. Knowing the marginal social cost allows companies to know how much to increase their prices and make more profits. This is better for the economy as a whole because then companies can create more jobs. Cap and trade restricts quantity, which lowers profits.
d. If we know the optimal quantity, cap and trade can be used to set the price. If we know the marginal social cost, a tax can be used to set the quantity
From the words of Oliver Hart, any outcome that can be achieved by taxing can also be achieved by establishing a quota because
if we know the marginal social cost, we can set the tax so that price is equal to the optimal price. As a result, the optimal quantity will be achieved. If we know the optimal quantity, we can set a quota and the market will find the optimal price.What is marginal social cost?This is the total cost that is accrued to a society given that there is a further action that was taken in a given economy.
This cost is greatre than social benefit at a point where the quantity demanded and the quantity supplied are equal.
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Which is an example of an interest group?
Answer:
sport club
Explanation:
because they share the same interest in sports :)
Whoosh Calendars imprints calendars with college names. The company has fixed expenses of $1,095,000 each month plus variable expenses of $6.50 per carton of calendars. Of the variable expenses, 68% is cost of goods sold, while the remaining 32% relates to variable operating expenses. The company sells each carton of calendars for $16.50.
Requirement:
1. Compute the number of cartons of calendars that Fast Spirit Calendars must sell each month to breakeven.
2. Compute the dollar amount of monthly sales Fast Spirit Calendars needs in order to earn $312,000 in operating income.
3. Prepare the company's contribution margin income statement for June for sales of 455,000 cartons of calendars.
4. What is June's margin of safety (in dollars)? What is the operating leverage factor at this level of sales?
5. By what percentage will operating income change if July's sales volume is 11% higher?
Original volume (cartons)Add: Increase in volumeNew volume (cartons)Multiplied by: Unit contribution marginNew total contribution marginLess: Fixed expensesNew operating incomevs. Operating income before change in volumeIncrease in operating income Percentage change
The number of cartons of calendars that Fast Spirit Calendars must sell each month to breakeven is 109500.
Breakeven1. Number of cartons
Number of cartons=fixed expenses/contribution margin per carton
Number of cartons=1095000/(16.5-6.5)
Number of cartons=109500
2. Target sales in dollars
Contribution margin ratio=contribution margin per carton/sales price per carton =
Contribution margin ratio=(16.5-6.5)/16.5
Contribution margin ratio=.61
Target sales in dollars=(fixed expenses + target operating income)/ contribution margin ratio
Target sales in dollars=(1095000+312000)/.61
Target sales in dollars=2,306,557
3. Contribution margin income statement
Sales revenue 7,507,500
(16.50x455,000)
Cost of goods sold 5,105,100
(6.50x455,000x68%)
Operating expenses 2,402,400
(6.50x455,000x32%)
Contribution margin 4,550,000
[(16.5-6.5)×455,000]
Fixed expenses 1095000
Operating income 3,455,000
(4,550,000-1,095,000)
4. Margin of safety (in dollars)
Sales revenue - sales revenue at breakeven = margin of safety ( in dollars) - ( sales price per carton x breakeven cartons) = margin safety in dollars
Margin safety in dollars=7,507,500-(16.5x109500)
Margin safety in dollars=7,507,500-1,806,750
Margin safety in dollars=5,700,750
Operating leverage factor =Contribution margin/operating income
Operating leverage factor =4,550,000/3,455,000
Operating leverage factor =1.316
Operating leverage factor =1.32 (Approximately)
5. Operating income
Operating income increase=Sales volume x operating leverage factor
Operating income increase=11%x1.32
Operating income increase=.1452
New volume=Original volume + increase in volume
{[455,000+45,500 x(16.5-6.5)]-1095000}-3,455,000
=[500,500x10)-1095000]-3,455,000
=(5,005,000-1095000)-3,455,000
=3,910,000-3,455,000
=455,000
455,000/3,455,000
=0.132
Inconclusion the number of cartons of calendars that Fast Spirit Calendars must sell each month to breakeven is 109500.
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