Considering the accounting principle, when reporting inventory using the lower cost or market method, the market should not be more than "Net realizable value less a normal profit margin."
This is because the lower cost or market method is a method that emphasizes that during the inventory measurement, inventory should be documented on the balance sheet using their historical price or the market value, that is, the value of the inventory when purchased.
This implies that the replacement cost of inventory cannot be lower than net realizable value, less a normal profit margin.
Hence, in this case, it is concluded that the correct answer is option D. "Net realizable value less a normal profit margin."
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Suppose the current price of a pound of chicken is $3 per pound and the equilibrium price is $6 per pound. What takes place
If the current price of a pound of chicken is $3 per pound and the equilibrium price is $6 per pound what takes place is: a) There is a shortage , so the price rises and quantity demanded decreases.
The current price of $3 per pound is lesser that the equilibrium price of $6 per pound which means that their is shortage.
The shortage indicate that their is increase in demand in the market because the quantity demanded is higher than the quantity supplied.
Therefore the rise in price of goods and services will lead to decrease in the quantity demanded of such goods or product.
Inconclusion what takes place is: a) There is a shortage , so the price rises and quantity demanded decreases.
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The question is
b) why does the equilibrium quantity remain the same even after the demand and supply curves change from D1 to D2 and S1 to S2 respectively?
Multiple-choice help me, pls.
16) If the supply of iPads increases, then
i. the supply curve for iPads has shifted rightward.
ii. the price of iPads has decreased.
iii. there will be a movement upward along the iPad supply curve.
A) i only
B) i, ii and iii
C) i and ii
D) ii and iii
E) i and iii
30) Which of the following statements is correct?
A) Consumer surplus equals the price paid for a good.
B) The consumer surplus from a good is always larger than the total benefit from the good.
C) An increase in price decreases consumer surplus.
D) An increase in price has no effect on consumer surplus.
E) The consumer surplus from a good or service must always equal producer surplus.
Answer:
33) A firm's marginal revenue is
A) the change in total revenue that results from a one-unit increase in the quantity sold.
B) total revenue minus total cost.
C) the change in total revenue minus the change in total cost.
D) the change in total revenue that results from an increase in the demand for the good or service.
E) less than the market price for a perfectly competitive firm.
Answer:
34) Suppose a perfectly competitive firm's minimum average variable cost is $3 when it produces 50. If the price is $2 and the firm's marginal cost is $2, the firm should
A) continue to produce, but produce more than 50.
B) continue to produce 50.
C) continue to produce, but produce less than 50.
D) shut down.
E) continue to operate, but to determine the amount of production needs more information than is given.
Answer:
42) Discretionary fiscal policy is a fiscal policy action, such as
A) an interest rate cut, initiated by an act of Congress.
B) an increase in payments to the unemployed, initiated by the state of the economy.
C) a tax cut, initiated by an act of Congress.
D) a decrease in tax receipts, initiated by the state of the economy.
E) an increase in the quantity of money.
Answer:
43) The magnitude of the government expenditure multiplier is ________ the magnitude of the tax multiplier.
A) greater than
B) equal to
C) less than
D) not comparable to
E) greater than for expansionary policy and less than for contractionary policy
Answer:
44) An increase in government expenditure can ________ potential GDP and an increase in taxes can ________ potential GDP.
A) increase; increase
B) increase; never change
C) decrease; decrease
D) never change; never change
E) increase; decrease
Answer:
45) When the Fed increases the federal funds rate,
A) there is no effect on investment because investment depends on the real interest rate.
B) the real interest rate falls, and investment increases.
C) the real interest rate rises, and investment decreases.
D) the real interest rate is unaffected, but investment still decreases.
E) the real interest rate rises, and investment does not change.
Answer:
46) The Fed raises the federal funds rate. Which of the following changes occurs most rapidly?
A) Exchange rate rises.
B) Consumption expenditure decreases.
C) Aggregate demand decreases.
D) Real GDP growth decreases.
E) Inflation rate decreases.
Answer:
47) If the Fed increases the quantity of money and lowers the federal funds rate, real GDP ________ and the price level ________.
A) increases; increases
B) increases; decreases
C) decreases; increases
D) decreases; decreases
E) increases; does not change
Answer:
48) Raising the federal funds rate shifts the aggregate demand curve ________ so that real GDP ________ and the price level ________.
A) rightward; increases; rises
B) leftward; decreases; rises
C) rightward; increases; falls
D) leftward; decreases; falls
E) leftward; increases; rises
Answer:
Jay, a divisional vice president of a consumer goods manufacturer, gives a presentation to all divisional employees to outline the company’s goals for the coming year. This is an example of what type of organizational communication?
✔ a. Downward communication
b. Grapevine communication
c. Lateral communication
d. Upward communication
e. Virtual communication
Answer:
downward communication
your salary is $50,000 income tax rate is 21% on the first $35,000 and 23% on the rest of your income what is the total amount of tax that you owe A.$10,500 B. $10,770 C. $10,800 D.$11,500
Answer:
C
Explanation:
35000 = 100%
35000×0.21 = 21% = $7350
50000 - 35000 = 15000 = 100%
15000×0.23 = 23% = $3450
so, in total, I pay
7350 + 3450 = $10,800
a deductible of $500 requires ( select the correct answer )
Answer:
ɴᴏ ᴘɪᴄ sᴏʀʀʏ :(( ʙʏᴇ :)))
Dominique and Isidora Wilson are wealthy entrepreneurs who are very interested in helping people who have been wrongly convicted of crimes. What philosophy would they choose to implement
People do things for different reasons.The philosophy they would they choose to implement is Philanthropy.
Philanthropy is a term that goes beyond the act of giving, Its aim is to encourage change in the community and people.This act been pursued is equally beneficial for the performer and the recipient. The field of philanthropy is lead by professional companies and people to worthy causes.
Giving yourself to a cause is very personal, and sometimes emotionally taxing of your time and money.
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The new chairman of the Ionian Central Bank (ICB) is preparing for her first board meeting. She is expected to recommend a monetary policy for the board to pursue. She decides to use the Taylor rule, which was originally developed for the U.S. Federal Reserve. Ionia's potential GDP is 100 million drachma, but current GDP is 96 million . What is Ionia's output gap
By using the Taylor rule used the U.S. Federal Reserve, the Output gap for Ionian Central Bank will equal -4%.
Output gap helps to measure the difference between the actual output of an economy and its potential output.
The formula to use to derive Ionia's Output gap is {[Current GDP - Potential GDP} / 100}}
Ionia's Output gap = (96 - 100)/100
Ionia's Output gap = -4 / 100
Ionia's Output gap = -4%
Therefore, by using the Taylor rule used the U.S. Federal Reserve, the Output gap for Ionian Central Bank will equal -4%.
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SSG Cycles manufactures and distributes motorcycle parts and supplies. Employees are offered a variety of share-based compensation plans. Under its nonqualified stock option plan, SSG granted options to key officers on January 1, 2021. The options permit holders to acquire 12 million of the company’s $1 par common shares for $11 within the next six years, but not before January 1, 2024 (the vesting date). The market price of the shares on the date of grant is $13 per share. The fair value of the 12 million options, estimated by an appropriate option pricing model, is $3 per option. Required: 1. Determine the total compensation cost pertaining to the incentive stock option plan. 2. & 3. Prepare the appropriate journal entries to record compensation expense on December 31, 2021, 2022, and 2023. Record the exercise of the options if all of the options are exercised on May 11, 2025, when the market price is $14 per share.
1. The total compensation cost pertaining to the incentive stock option plan is $36 million.
2. & 3. The appropriate journal entries to record compensation expense on December 31, 2021, 2022, and 2023 are:
1. Total compensation expense
Total compensation expense=Total option× Fair value per option
Total compensation expense=$3×12 million
Total compensation expense= $36 million
2. SSG Cycles Journal entry
December 31, 2021
Debit Compensation expense $12 million
Credit Additional-paid in capital -Stock options $12 million
($36 million/3 years = $12 million per year)
(To record compensation expense)
December 31, 2022
Debit Compensation expense $12 million
Credit Additional-paid in capital -Stock options $12 million
($36 million/3 years = $12 million per year)
(To record compensation expense)
December 31, 2023
Debit Compensation expense $12 million
Credit Additional-paid in capital -Stock options $12 million
($36 million/3 years = $12 million per year)
(To record compensation expense)
3. May 11, 2025
Debit Cash $132 million
($11×12 million)
Debit Additional-paid in capital -Stock options $36 million
Credit Common stock $12 million
($1×12 million)
Credit Additional-paid in capital -excess par $156 million
($132 million+$36 million-$12 million)
(To record the exercise of stock option)
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Ethan, a manager, says, “Email is a very efficient way of communicating, especially across time zones and to large numbers of people. Are there situations in which I shouldn’t use email?” You advise Ethan that he should not send an email in which of the following situations? Check all that apply.
✔ - To the coordinator of a conference when Ethan needs to cancel his appearance as the keynote speaker
- To all employees to announce upcoming development workshops
✔ - To another manager who has just commandeered the computer equipment Ethan needs to meet a critical deadline
- To suppliers in China to report weekly defects within acceptable limits
Answer:
Explanation:
To another manager who has just commandeered the computer equipment Ethan needs to meet a critical deadline
To the coordinator of a conference when Ethan needs to cancel his appearance as the keynote speaker
Answer:
✔ To the coordinator of a conference when Ethan needs to cancel his appearance as the keynote speaker
✘ To all employees to announce upcoming development workshops
✔ To another manager who has just commandeered the computer equipment Ethan needs to meet a critical deadline
✘ To suppliers in China to report weekly defects within acceptable limits
Explanation:
Ethan should not email people when he is angry, so he should not shoot off an email to the other manager who just took the computers Ethan needs. It is also better to use a richer, more personal channel of communication when cancelling a commitment or apologizing for something. Thus, Ethan should call the conference coordinator rather than sending an email. Other times email is not optimal are when the sender is criticizing the receiver or when the receiver is likely to interpret the message as criticism.
A weekly report of defects that are within acceptable limits can be sent by email, as can a routine announcement of development opportunities available to all employees.
In the context of the common mistakes made during succession planning, the provisions of the _____ require boards to increase the priority of CEO succession.
Firms often have different ways of appointing successors. In the context of the common mistakes, the provisions of the Sarbanes-Oxley Act require boards to increase the priority of CEO succession.
The Sarbanes-Oxley Act provisions is known to input more demands that boards do in CEO succession planning.The Sarbanes–Oxley Act of 2002 is a common United States federal law that gives power for some specific practices in financial record keeping and reporting for corporations.
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The company has net nonoperating obligations (NNO) of $10,000 and 5,000 shares outstanding. Calculate the per-share stock price for 2021 using the FCFF information above, a discount rate of 7%, and a terminal growth rate of 2%. Hint: a. Calculate PV FCFF for each of 2022 to 2025 and sum them up; b. Calculate PV Terminal Year; c. Calculate Total Firm value by adding up (a) and (b); d. Subtract net nonoperating obligation to get total equity value; e. Divide total equity value by shares outstanding to get the per-share stock price (Please show your calculations)
The per-share stock price for 2021 using the FCFF information for Target Corp. is $2.37.
Explanation:
Net non-operating obligations (NNO) = $10,000
Outstanding shares = 5,000 shares
Discount rate = 7%
Terminal Growth rate = 2%
Expected free cash flows for Target Corp. for 2019:
Current Forecast Horizon Terminal
2019 2020 2021 2022 2023 Year
Free cash flows (FCFF) $4,650 $4,880 $5,130 $5,390 $5,650 $5,766
Discount factor at 7% 0.935 0.873 0.816 0.763 0.713
PV of FCFF $4,563 $4,478 $4,398 $4,311 $4,111
a. Sum of PV of FCFF for 2020 to 2032 = $17,750 ($4,563 + $4,478 + $4,398 + $4,311)
b. The PV Terminal Year = $4,111
c. Total Firm Value = $21,861 ($17,750 + $4,111)
d. Total Equity Value = $11,861 ($21,861 - $10,000)
e. Per Share Stock Price = $2.37 ($11,861/5,000)
Thus, the per-share stock price for 2021 using the FCFF information for Target Corp. is $2.37.
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A business owner makes 60 items by hand in 45 hours. She could have earned $35 an hour working for someone else. Her total explicit costs are $225. If each item she makes sells for $18, her economic profit equals:
$-720 is her economic profit equals. A business owner makes 60 items by hand in 45 hours. She could have earned $35 an hour working for someone else. Her total explicit costs are $225.
What is economic profit equals?Economic profit is equal to total revenue less total costs, which include both explicit and implicit costs. Economists use the term "zero economic" to indicate that a company has no economic profit when its total costs and total revenues are equal.
When a business is competitive and generates enough income to cover its costs, it may often declare a zero economic profit. Economic profit is calculated as revenues minus explicit costs minus opportunity costs.
In this equation, leaving out the opportunity costs only results in the accounting profit; however, leaving out the opportunity costs can also be used as a stand-in for assessing other strategies.
Thus, it is $-720.
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The market value weighted-average beta of firms included in the market index will always be _____________.
Please help! Need an expert in this and will give 50 points and brainliest if it’s answered. Getting reported if it’s answered for points
Pat Jones is a college student who is planning some networking opportunities for the current semester. Pat wanted to look professional for these events and felt a new suit would be a real benefit; however, the cost for the first event ended up being $75 which was a strain on the budget. Pat did not want to attend the
remaining three events in the same outfit, so a new strategy was developed. Instead of paying for new suits in cash, Pat decided to charge the suits on a credit card, wear them to the events, and then return them the next
day for full credit.
2. Do you feel Pat's new strategy is ethical? Why or why not? Could there be any consequences with this strategy?
3. How will this new strategy impact the company/companies where the suits are purchased?
4. What journal entry/entries would the company have to record related to the return of the suit?
Answer:
2. I feel like Pat's new strategy isn't ethical. Pat doesn't pay for the suits; he just buys them and then returns them. Pat benefits, but the store he gets the suits from doesn't. In fact, they are harmed from this transaction because they are unable to have the suit for others to buy while Pat has it. There could be consequences with this strategy. For example, the suit might be damaged, and Pat won't be able to return it. Another problem is that others might find out about Pat's strategy, and they might view them as unprofessional. This is a problem for Pat since the reason Pat wore those suits was to look professional.
3. The stores are harmed from this transaction. They are unable to sell the suits to other buyers. The stores lose potential customers, so the stores lose potential money.
4. The companies should record that Pat had bought the suit only to return it the next day, so that they can act accordingly when Pat or someone else comes back to "buy" a suit.
Explanation:
GeonHouses, a leading manufacturer and supplier of crockery, charges three dollars for each soup bowl. The cost of manufacturing each soup bowl is one dollar. In this scenario, the difference between the price GeonHouses charges per soup bowl and the cost of making it is referred to as _____.
The difference between the price that GeonHouses charges its customers and the cost of manufacturing a bowl of soup is C. captured value.
The captured value represents the difference between the $3 selling price and the $1 cost of manufacturing a bowl of soup for customers.
This captured value is also known as the gross profit. Based on the gross profit, GeonHouses deduct its expenses and taxes to determine the actual net income.
The $2 difference is not an abstract, modified, or differentiation value.
Data and Calculations:
Selling price per bowl of soup = $3
Manufacturing cost per bowl = $1
Captured value = $2 ($3 - $1)
Thus, the $2 difference is a captured value for GeonHouses.
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Options for this question are:
A. abstract value
B. modified value
C. captured value
D. differentiation value
In your opinion, what are the three most important microeconomic issues of our society today?
Answer:
voting rights, hand weapon violence, and the pandemic
Explanation:
the worldwide issue right now is the pandemic and that's what everybody is worried about, along with that comes healthcare.
3. Cash and credit sales, with returned merchandise. (a) Merchandise is sold for $340 cash. (b) $30 of merchandise sold for $340 is returned for refund. (c) Merchandise is sold on account for $280. (d) $25 of merchandise sold for $280 is returned for a credit. (e) Payment is received for balance owed on merchandise sold on account.
Answer:
The payment received is 1200
Tony’s favorite memories of his childhood were the times he spent with his dad at camp. Tony was daydreaming of those days a bit as he and Suzie jogged along a nature trail and came across a wonderful piece of property for sale. He turned to Suzie and said, “I’ve always wanted to start a camp where families could get away and spend some quality time together. If we just had the money, I know this would be the perfect place.” On November 1, 2022, Great Adventures purchased the land by issuing a $400,000, 6%, 8-year installment note to the seller. Payments of $5,257 are required at the end of each month over the life of the 8-year loan. Each monthly payment of $5,257 includes both interest expense and principal payments (i.e., reduction of the loan amount). Late that night Tony exclaimed, “We now have land for our new camp; this has to be the best news ever!” Suzie said, “There’s something else I need to tell you. I’m expecting!” They decided right then, if it was a boy, they would name him Venture.
Required: 1. Complete the first three rows of an amortization schedule.
Required 2&3. Record the purchase of land with the issuance of a long-term note payable on November 1, 2022, and the first two payments on November 30, 2022, and December 31, 2022, and calculate the remaining balance of the note payable as of December 31, 2022. (If no entry is required for a particular transaction, select "No Journal Entry Required" in the first account field.) then record the balance
Required 4. The 12 monthly payments in 2023 (following year) will reduce the note's balance by an additional $40574. How would the remaining balance of the note payable be reported in the balance sheet as of December 31, 2022?
1. The completion of the first three rows of a monthly amortization schedule is as follows:
Monthly Amortization Schedule
Beginning Interest Principal Ending
Balance Payment Repayment Balance
1 $400,000.00 $2,000.00 $3,257.00 $396,743
2 $396,743.00 $1,984.00 $3,273.00 $393,470
3 $393,470.00 $1,967.00 $3,290.00 $390,180
2&3. Journal Entries:
November 1, 2022:
Debit Land $400,000
Credit Note Payable $400,000
To record the issuance of the note payable for the purchase of the land.
November 30, 2022:
Debit Interest Expense $2,000
Debit Note Payable $3,257
Credit Cash $5,257
To record the first interest payment.December 31, 2022:
Debit Interest Expense $1,984
Debit Note Payable $3,273
Credit Cash $5,257
To record the second interest payment.3. The remaining balance of the note payable as of December 31, 2022, is $393,470.
4. In the balance sheet as of December 31, 2022, the remaining balance of the note payable ($393,470) will be reported under Current Liabilities of $40,574 and Long-term Liabilities of $352,896.
Data and Calculations:
Note payable = $400,000
Interest rate = 6% per annum
Maturity period = 8 years
Monthly installmental payment (interest and principal inclusive) = $5,257
Bal;ance of the Note Payable
November 1, 2022: Note Payable $400,000
First two repayments in Nov and Dec. 2022 = 6,530 ($3,257 + $3,273)
Balance as of December 21, 2022 393,470
Repayments from Jan. 1 to Dec. 2023 40,574
Balance as of December, 2023 352,896
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The cat ____ the food.
A. eat
b. drink
c. up
d. run
Answer:
eat
Explanation:
Answer:
eat
Explanation:
What is the MOST LIKELY reason for increase in the pricce of a specific stock?
Answer:
The item becomes too popular and starts to run out.
Fastest way of making balance sheet
Answer:
Reporting Date and Period. ...
Identify Assets. ...
Identify Liabilities. ...
Calculate Shareholders' Equity. ...
Add Total Liabilities to Total Shareholders' Equity and Compare to Assets.
Answer:
Determine the Reporting Date and Period.
Identify Your Assets.
Identify Your Liabilities.
Calculate Shareholders' Equity.
Add Total Liabilities to Total Shareholders' Equity and Compare to Assets.
Explanation:
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What makes a good leader
Answer:
A good leader is someone who is willing to hold up their own issues to help others. Another example of a good leader is someone who always tries to help no matter what.
As a department manager, you have decided to purchase two projectors to be installed in two of the conference rooms. Your brother has just started his own business in office supplies. He is able to provide you the two projectors with no installation cost. What might you want to consider? Please provide 4 answers.
In this situation, you need to consider factors such as total costs if you get the projectors from your brother, the total costs for getting the projects with a different supplier, the ethical implications, and the long-term effects.
If you are the manager of this company, your main objective is to get the protectors you need and get them installed. Moreover, as a manager you want the cost to be as lowest as possible without getting into ethical issues or obtaining a low-quality product.
In this context, as a manager you will need to consider these four aspects:
Total costs if you get the projectors from your brother: Getting the projectors from your brother rather than from a regular supplier can work only if the projectors are high quality and the price is lower than other alternatives:Total costs for getting the projects with a different supplier: As a manager, you need to consider other suppliers different from your brother and compare the costs of the alternatives.The ethical implications: Even if getting the projector from your brother is cheaper this has ethical implications because you are choosing him based on a family bond rather than on objective factors such as quality or price.Long-term effects: As a manager, you will not consider the long-term effects such as how long will the durability of the projectors or the long-term ethical implications.
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Which person would benefit most from taking advantage of a low variable
interest rate?
A. Emilio needs a loan to support his business and needs his
payments to be as predictable as possible.
B. Ellie has just found her dream home and wants to get a mortgage
that will allow her to live there forever.
C. Evan needs to borrow money to pay for car repairs, but he will be
able to pay off the loan within two to three months.
D. Erica needs to borrow money to attend college, but she doesn't
have a good credit history.
Based on the information, the individual that'll benefit from the interest rate will be C. Evan needs to borrow money to pay for car repairs, but he will be able to pay off the loan within two to three months.
A variable interest rate simply means an interest rate that fluctuates. It's different from a fixed interest rate. It should be noted that variable interest rates have low interest rates and are typically used for short-term financing.
Therefore, the person that would benefit most from taking advantage of a low variable interest rate will be Evan who needs to borrow money to pay for car repairs, but he will be able to pay off the loan within two to three months.
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Answer:
c
Explanation:
The Laffer curve shows that Group of answer choices at some specific tax rate, tax revenue is maximized. tax revenue is constant overall tax rates. tax revenue decreases as tax rates increase. tax revenue is maximized at multiple tax rates. tax revenue increases as tax rates increase.
The Laffer curve shows that at some specific tax rate, tax revenue is maximized.
The Laffer Curve theory was developed by Arthur Laffer in 1974. The curve shows the relationship between tax rates and tax revenue. According to this theory, higher income tax rate diminishes the desire of labour to work and invest. This is because higher income increases the amount of tax to be paid. This means that at some point, increase in the tax rate would decrease government revenue rather than increase it.
The theory submits that there is an optimal tax rate at which tax income is maximised. Once this point is exceeded, increase in tax rate would reduce the revenue earned by the government.
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he following information relating to a company's overhead costs is available.
Budgeted fixed overhead rate per machine hour $ 0.50
Actual variable overhead $ 96,000
Budgeted variable overhead rate per machine hour $ 4.00
Actual fixed overhead $ 15,000
Budgeted hours allowed for actual output achieved 41,000
Based on this information, the total overhead variance is:
a $5500 unfavorable.
b $73,500 unfavorable.
c $73,500 favorable.
d $68,000 favorable.
e $5500 favorable.
Answer:
A) $2,000 favorable
Explanation:
Actual total variable overhead = $ 73,000
Actual total fixed overhead = $ 17,000
Budgeted variable overhead rate per machine hour = $ 2.50
Budgeted total fixed overhead = $ 15,000
Budgeted machine hours allowed for actual output = 30,000
Budgeted variable overhead = $ 2.50 x 30,000 = $ 75,000
Variable overhead variance = Budgeted variable overhead - Actual total variable overhead
Variable overhead variance = $ 75,000 - $ 73,000 = $ 2,000
Since the actual value is under the budgeted value, the variable overhead variance is $2,000 favorable.
Why was the system of checks and balances included in the Constitution?
a to keep the President of the United States from vetoing legislation
b to slow down the process of government so it doesn't move too fast
c to prevent one branch of the government from becoming too powerful
Answer:
C to prevent one branch of the government from becoming too powerful
Is L. Gore a mechanistic or an organic organization?
When using the effective-interest method of bond amortization, Interest Expense ______ each payment if the bonds were issued at a discount.
When the effective-interest method of bond amortization is used, the Interest Expense exceeds each payment if the bonds were issued at a discount.
In short, the Interest Expense is based on the bond's proceeds, which are always below the face value of the bonds when issued at a discount.
Thus, the interest expense is calculated using the effective interest rate on the bond's proceeds.
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Answer:
increases
Explanation: