Answer:
$1,919.69
Explanation:
when the daughter is 9 years old, total savings = $1,500 x 5.6371 (FVIFA, 6%, 5 periods) = $8,455.65
first 5 payments:
birthdays = 5, 6, 7, 8, 9
the present value of the $40,000 that he needs for her daughter's college = $10,000 x 3.4651 (PVIFA, 6%, 4 periods) = $34,651
the FV until the 17th birthday = $8,455.65 x 1.06⁸ = $15,650.82
he needs to save = $34,651 - $15,650.82 = $19,000.18
value of annual deposits = $19,000.18 / 9.8975 (FVIFA, 6%, 8 peridos) = $1,919.69
Your business sponsor and customer informed you that you have to deliver your project much sooner than anticipated. When you break the news to your team, they are not happy with the decision for they are concerned that the project will now fail. Using the information you learned from readings, what can you do as a leader to ensure your project team that this is the right thing to do
Answer:
Motivate the team
Explanation:
The team needs to be motivated to be working hard and the project does not fail. The workers can be motivated with extensive work plan which is also needs to be achievable, split the work in small tasks and goals so the workers stay motivated while working. Attach monetary rewards for completing the tasks on time, overtime can also be included with enough motivating $/hour.
ou plan to deposit $5,900 at the end of each of the next 20 years into an account paying 10.8 percent interest. a. How much will you have in your account if you make deposits for 20 years
Answer:
$326,622.73
Explanation:
Calculation to determine How much will you have in your account if you make deposits for 20 years
Using this formula
Future value = Annuity × {( 1 + interest rate) ^ time period - 1} ÷ interest rate
Future value = $5,900 × {( 1 + 0.097 ^ 20 years - 1} ÷ 0.097
Future value= $5,900 × 55.3597842916
Future value= $326,622.73
Therefore the amount you will have in your account if you make deposits for 20 years is $326,622.73
Solutions to the moral hazard problem include Select one: a. low net worth b. greater reliance on equity contracts and less on debt contracts c. monitoring and enforcement of restrictive covenants. d. greater reliance on debt contracts than financial intermediaries
Answer:
C) monitoring and enforcement of restrictive covenants.
Explanation:
Moral hazard can be regarded as the situation which take place when an individual get some chances whereby he/she can take advantage of a financial deal or financial situation, when he/she knows that all the risks as well as fallout will be accounted to another party. moral hazard can be reduced by strong up policies which will prevent immoral behavior as well as regular monitoring. One of the Solutions to the moral hazard problem is monitoring and enforcement of restrictive covenants.
On July 1, 2019, Stacy Company signed a $140,000, one-year, 6 percent note payable. The principal and interest will be paid on June 30, 2020. How much interest expense should be reported on the income statement for the year ended December 31, 2019
Answer:
Stacy Company
The amount of interest expense that should be reported on the income statement for the year ended December 31, 2019 is:
= $4,200.
Explanation:
a) Data and Calculations:
6% Notes Payable = $140,000
Date of issuance = July 1, 2019
Interest rate per annum = 6%
Total interest expense for the one year = $8,400 ($140,000 * 6%)
Interest expense for the half-year = $4,200 ($140,000 * 6% * 1/2)
b) Therefore, the cash payment on June 30, 2020 will amount to $148,400 ($140,000 + $8,400)
Andy views beer and pizza as complements to one another. If the price of pizza decreases, economists would expect: Group of answer choices
Answer:
4
Explanation:
1. Andy’s demand for pizza to increase
2. Andy’s demand for pizza to decrease
3. Andy’s quantity of pizza demanded to decrease
4. Andy’s demand for beer to increase
Complementary goods are goods that are consumed together. If the price of pizza decreases, the quantity demanded of pizza would increase. this is according to the law of demand.
According to the law of demand, the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.
While, the quantity demanded of beer would increase. this is because more of pizza is being consumed and both goods are complements
The major advantage of a regular partnership or a corporation as a form of business organization is the fact that both offer their owners limited liability, whereas proprietorships do not. True False
Answer:
True
Explanation:
Some owners of a regular partnership (limited liability partnership) or a corporation (S-corporation) enjoy limited liability, unlike the owners of proprietorships, whose business liabilities and solvency are backed with the personal assets of the owners. The owners of a C-corporation enjoy full limited liability unless the corporate veil is lifted by the court, depending on prevailing circumstances. With limited liability also comes limited participation in the management of the entity.
Determine the average rate of return for a project that is estimated to yield total income of $936,000 over eight years, has a cost of $1,200,000, and has a $100,000 residual value.
Answer:
18%
Explanation:
The computation of the average rate of return is shown below:
The average of annual income is
= $936,000 ÷ 8 years
= $117,000
And, the average investment is
= ($1,200,000 + $100,000) ÷ 2
= $650,000
Now the average rate of return is
= $117,000 ÷ $650,000
= 18%
You got $200 from your grandma for your birthday. What should you do first? Option A A Record it as income in your budget. Option B B Stick it under your bed for safekeeping. Option C C Deposit it all straight into your savings account. Option D D Spend it.
When reviewing the performance appraisals for the marketing department, the HR manager found what appeared to be leniency errors, as most employees received similar ratings that were above average. Going forward, raters are going to be required to use a forced distribution, as this will reduce the chance of leniency or strictness errors.
a. True
b. False
True Is the Answer dear....
It is true that raters are going to be required to use a forced distribution when reviewing the performance appraisals of marketing department by HR manager.
What is performance appraisal?This is a process of evaluating how well an employee has performed in an organization and in line with the employee's key performance indicator.
The aim of perfomace apprailsal for the organization to know whether or not an employee abide with the indicators set by the company.
Hence, It is true that raters are going to be required to use a forced distribution when reviewing the performance appraisals of marketing department by HR manager.
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If a business had a capacity of $10,000,000 of sales, actual sales of $6,000,000, break-even sales of $4,500,000, fixed costs of $1,800,000, and variable costs of 60% of sales, what is the margin of safety expressed as a percentage of sales
Answer:
2000000
Explanation:
because that is what is left
Ryan's Sparkling Jewels estimated its payroll for the coming year to be $84,000. Its workers' compensation insurance premium rate of 0.6% is paid at the beginning of each quarter
Required:
1. Calculate the estimated cost of workers' compensation insurance for the year.
2. Show the journal entry for the first quarterly payment on January 2, 20.
3
a. Assume Ryan's actual payroll for the year was $89,000. Calculate the additional premium owed for 20--.
b. Assume Ryan's actual payroll for the year was $89,000. Record the adjustment needed on December 31, 20--. The actual payment of the additional insurance premium will not take place until January of the following year.
Answer:
Following are the responses to the given choice:
Explanation:
Please find the solution in the attached file.
Jill is a cash basis attorney. This year, she performed services in connection with the formation of a corporation and received stock with a value of $4,000 for her services. By the end of the year, the value of the stock had decreased to $2,000. She continued to hold the stock. Jill must recognize $4,000 of gross income from the stock for the current year.
a) true
b) false
Answer:
a) true
Explanation:
Since in the question it is mentioned that the stock is received with the value of $4,000 and at the closing of the year the stock value is decreased to $2,000
But she continue to hold the stock and record $4,000 of the gross income from the stock
So at the time of income receipt, the realizable value is $4,000
Therefore the given statement is true
Sales $3,400,000 $2,100,000 Contribution margin $1,500,000 $900,000 Divisional segment margin $1,000,000 $300,000 Net operating income last year for SegR-1882 Corporation was $550,000. In last year's income statement segmented by division, what were SegR-1882's total common fixed expenses
Answer: $750,000
Explanation:
Based on the information given, in last year's income statement segmented by division, SegR-1882's total common fixed expenses will be calculated thus:
Note that Net operating income = Total segment margin - Common fxed expenses
Therefore, Common fixed expense = Net operating income - Total segment margin
Common fixed expenses:
= $1,300,000 - $550,000
= $750,000
Therefore, common fixed expenses is $750,000
Note that total segment margin = $1,000,000 + $300,000 = $1,300,000
Answer the two questions relating to supply and the law of supply. A shift in the supply curve can be caused by a shift in demand. a change in one of the determinants of supply. a change in the price of a good. a change in buyers' incomes. If the price of a kayak increases, sellers offer fewer kayaks for sale. the supply of kayaks increases. sellers offer more kayaks for sale. the supply of kayaks decreases.
Answer: 1. a change in one of the determinants of supply
2. sellers offer more kayaks for sale.
Explanation:
1. Supply refers to the amount of goods or services that a seller is willing to sell at a given price and time. A shift in the supply curve can be caused by a change in one of the determinants of supply. e.g. number of sellers in the market or price of input.
When there's a change in one of these factors e.g let's say there's an increase in the number of sellers of a good on the market, this will lead to a shift in the supply curve to the right as there'll be more goods to be sold.
2. When the price of kayak increases, the sellers will offer more kayaks for sale. This follows the law of supply which explains that when price increases, the quantity supplied will increase as well.
Please answer the question posted in the image
Answer:
its c
Explanation:
How much total interest will she pay over the course of the mortage for this house
Answer:
How are we suppose to know??????
Explanation:
Bob went out with his friends to celebrate his birthday. They went to a bar where they drank copious quantities of alcohol. In the morning, Bob had not slept and was still obviously intoxicated. He found his way to a car dealership near his house and entered into a contract to buy a Mercedes Benz SUV for the cost of $140,000.00. The car salesman could smell alcohol on Bob's breath, he noticed his eyes were bloodshot and "glossy" while they were signing the papers relating to the sale, and when Bob left he could see that he was unsteady on his feet. Bob left the dealership and went home and went to bed. He slept for two days. The car salesman from the dealership called Bob 4 days later to tell him that his vehicle was ready for pick up. Bob had no memory of the buying any car.
In these circumstances:
A. the contract is void ab initio because Bob lacked capacity to contract due to his intoxication
B. Bob can avoid or repudiate the contract within a reasonable time after he regains capacity and sobers up
C. Bob cannot avoid the contract because he is responsible for his intoxication and the car salesman had no way of knowing Bob was intoxicated at the time of entering into the contract
Several years ago, the City of Russell issued $7 million of 6 percent serial bonds at 101. Principal payments of $350,000 are due each June 30 for 20 years. Interest on the bonds is payable each December 31 and June 30. As of June 30, 2015, the city has not paid the June 30 principal and interest payment. The amount of interest payable (assuming an outstanding balance of $4,000,000 of bonds) that should be included on the balance sheet for the debt service fund of the City of Russell at June 30, 2015 is how much?
Answer:
the interest payable is $210,000
Explanation:
The computation of the interest payable is shown below:
= Principal payments × rate of interest × no of months ÷ total no of months × time period
= $350,000 × 6% × 6 months ÷ 12 month × 20years
= $210,000
hence, the interest payable is $210,000
The same should be considered and relevant
Geary Co. leased a machine to Dains Co. Assume the lease payments were made on the basis that the residual value was guaranteed and Geary gets to recognize all the profits. At the end of the lease term, before the lessee transfers the asset to the lessor, the leased asset and obligation accounts have the following balances:
Leased equipment $400,000
Less accumulated depreciation--capital lease 384,000
$ 16,000
Interest payable $ 1,520
Lease liability 14,480
$16,000
If, at the end of the lease, the fair value of the residual value is $9,800, what gain or loss should Geary record?
a. $4,680 gain
b. $8,280 loss
c. $6,200 loss
d. $9,800 gain
Answer:
c. $6,200 loss
Explanation:
Calculating the gain or loss Geary should record:
Gain or loss = Fair value of residual value - Value of leased equipment
Gain or loss = $9,800 - $16,000
Loss = $6,200
So, the loss that Geary should record is $6,200.
I applied to a university in mid October but it is June now an I haven't gotten a respond yet. is it a bad sign?
Find an article regarding full disclosure or the treatment of accounting changes. In 250-300 words, summarize the article that you found and post that summary in the discussion forum. Post the article name in the subject line and do not post on an article that another classmate has already posted. Participate in follow-up discussion by choosing one of the articles that your classmates' posted on and providing additional comments about the findings of that article. Your initial post should be 250-500 words, and should demonstrate solid academic writing skills. Please include proper citations in your discussion post. Points will be deducted if proper citations are not used.
Hi, since this is an academic writing activity, I simply provided suggestions and explanations of key terms.
Explanation:
Basically writing an essay involves consulting good written sources of information that discuss the subject. The term accounting changes disclosure basically refers to the requirement for companies to disclose
any changes to its:
accounting principle, accounting estimates, or reporting entity.Citation (reference) is a term used in reasearch to describe a source or a list of sources (published and unpublished) where information or data was consulted and used in the research work.
Cushman Company had $846,000 in sales, sales discounts of $12,690, sales returns and allowances of $19,035, cost of goods sold of $401,850, and $291,025 in operating expenses. Gross profit equals:
Answer:
Explanation:
I'm pretty sure that gross profit is simply just sales-Cost of goods sold
846,000-401,850= 444,150
High Step Shoes had annual revenues of $192,000, expenses of $107,200, and dividends of $20,800 during the current year. The retained earnings account before closing had a balance of $304,000. The entry to close the Income Summary account at the end of the year, after revenue and expense accounts have been closed, is:
Answer:
Debit Income Summary $84,800, Credit High Step Shoes, Capital $84,800
Explanation:
Preparation of what The entry to close the Income Summary account at the end of the year, after revenue and expense accounts have been closed, is:
Debit Income Summary $84,800
Credit High Step Shoes, Capital $84,800
($192,000-$107,200)
(To close the Income Summary account )
SwiftyCompany is considering two capital investment proposals. Estimates regarding each project are provided below:
Project Soup Project Nuts
Initial investment $380000 $492000
Annual net income 30000 46000
Net annual cash inflow 110000 146000
Estimated useful life 5 years 6 years
Salvage value 0 0
The company requires a 10% rate of return on all new investments.
Present Value of an Annuity of 1
Periods 9% 10% 11% 12%
5 3.89 3.791 3.696 3.605
6 4.486 4.355 4.231 4.111
The cash payback period for Project Nuts is:________.
a. 4.75 years.
b. 12.67 years.
c. 3.37 years.
d. 6.23 years.
Answer:
d
Explanation:
The 2017 balance sheet of Dream, Inc., showed current assets of $1,530 and current liabilities of $820. The 2018 balance sheet showed current assets of $1,800 and current liabilities of $1,000. What was the company's 2018 change in net working capital, or NWC
Answer:
$90
Explanation:
net working capital = current assets - current liabilities
therefore
2017 = $710
2018 = $800
change = $90
The company's 2018 change in net working capital, or NWC is $90
Timeless Corporation issued preferred stock with a par value of $600. The stock promised to pay an annual dividend equal to 20.0% of the par value. If the appropriate discount rate for this stock is 13.0%, what is the value of the stock
Answer:
$923.08
Explanation:
Calculation to determine the value of stock
Annual Dividend = 20%*600 = D = 120
Discount rate = r = 13% = 0.13
Value of the preferred stock can be calculated using the perpetuity formula:
Value of the dividend = P = D/r = 120/0.13 = $923.08
Therefore the value of stock is $923.08
Stan is going to work for the next 30 years and then retire. Starting the day he retires, he would like to withdraw $90,000 per year (in monthly installments) from an investment account for a twenty-five year retirement. At the end of his retirement, he would like to leave a bequest of $100,000 to his heirs. He currently has $10,000 in his investment account for these purposes. Stan plans to save for retirement by making monthly deposits into the investment account, beginning two years from now and ending the month before he retires. The investment account pays 9 percent compounded monthly. Construct a flexible spreadsheet model to answer the following questions:
1. How much must Stan invest each month to accomplish his retirement goals?
2. If Stan's employer will contribute $0.50 for every $1.00 he invests, how much of the deposit in #1 will Stan have to contribute?
Stan is going to work for the next 30 years and then retire. Starting the day he retires, he would like to withdraw 90,000 per year (in monthly installments) from an investment account for a twenty-five year retirement. At the end of his retirement, he would like to leave a bequest of90,000peryear(inmonthlyinstallments)fromaninvestmentaccountforatwenty−fiveyearretirement.Attheendofhisretirement,hewouldliketoleaveabequestof100,000 to his heirs. He currently has $10,000 in his investment account for these purposes. Stan plans to save for retirement by making monthly deposits into the investment account, beginning two years from now and ending the month before he retires. The investment account pays 9 percent compounded monthly. Construct a flexible spreadsheet model to answer the following questions:
1. How much must Stan invest each month to accomplish his retirement goals?
2. If Stan's employer will contribute 0.50 for every0.50forevery1.00 he invests, how much of the deposit in #1 will Stan have to contribute?
Swifty Corporation has the following budgeted sales: January $30000, February $90000, and March $50000. 40% of the sales are for cash and 60% are on credit. For the credit sales, 50% are collected in the month of sale, and 50% the next month. The total expected cash receipts during March are:
Answer:
Total cash collection= $62,000
Explanation:
Giving the following information:
40% of the sales are for cash and 60% are on credit. For the credit sales, 50% are collected in the month of sale, and 50% the next month.
Sales:
January $30000
February $90000
March $50000
Cash collection March:
Sales in account February= (90,000*0.6)*0.5= 27,000
Sales in account March= (50,000*0.6)*0.5= 15,000
Sales in cash March= (50,000*0.4)= 20,000
Total cash collection= $62,000
Several artists in Charleston, South Carolina, show and sell their work in an art gallery downtown. The gallery is owned by an art lover who does not buy the paintings but displays the work of various artists. She collects a percentage on each piece sold. In terms of the marketing channel, the gallery is Multiple Choice an ultimate consumer. a manufacturer. a wholesaler. an agent. a clearinghouse.
ABC Partnership has the following capital balances and profit and loss percentages. A (50%) $100,000 B (30%) $200,000 C (20%) $300,000 D will pay a total of $200,000 to the three partners in a privately negotiated transaction to acquire a 25% ownership interest. The goodwill method is to be used. How much Goodwill is recorded by the partnership a. $300,000 b. $225,000 c. $400,000 d. $0 e. $200,000
The goodwill method is to be used. How much Goodwill is recorded by the partnership is 225,000. Hence, option B is correct.
What is goodwill method?Goodwill is calculated by subtracting the purchase price from the difference between the fair market value of the company's assets and liabilities. Companies are required to review their goodwill value on their financial statements at least once a year and reflect any impairments.
This method is used when profits fluctuate and the current year's profit is given primary importance. It's evaluated using the formula. Weighted Average Profit is the sum of all profits divided by the sum of all weights, and Goodwill is computed as Weighted Average Profit times the number of years since the purchase.
Goodwill valuation is the methodical evaluation of a company's goodwill for inclusion in its balance sheet under the heading of intangible assets.
Thus, option B is correct.
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