On February 3, Snap Repair Service extended an offer of $83,000 for land that had been priced for sale at $95,000. On February 28, Snap Repair Service accepted the seller's counteroffer of $90,000. On October 23, the land was assessed at a value of $135,000 for property tax purposes. On January 15 of the next year, Snap Repair Service was offered $144,000 for the land by a national retail chain.At what value should the land be recorded in Snap Repair Service's records
Answers
Answer:
$90,000
Explanation:
As per the historical cost principle, the assets should be recognized at the purchase price or the historical cost. In this, no other cost should be recognized such as assessed value, land improvements, etc
Since in the given question the Snap Repair Service accepted the seller counter offer i.e. $90,000 so the same is to be presented in the financial statements
hence, the land should be recorded at $90,000
Related Questions
Sally Hamilton has performed well as the chief financial officer of the Maxtech Computer Company and has earned a bonus. She has a choice among the following three bonus plans: (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) A $50,000 cash bonus paid now. A $10,000 annual cash bonus to be paid each year over the next six years, with the first $10,000 paid now. A three-year $22,000 annual cash bonus with the first payment due three years from now. Required: Evaluate the three alternative bonus plans. Sally can earn a 6% annual return on her investments. (Round your answers to nearest whole dollar amount.) What is the present value of the first alternative
Answers
Answer and Explanation:
First alternative Present value;
= $50,000
The $50,000 is to be paid now so this is its present value.
Second alternative;
This is an Annuity due as the first payment is now. The present value is;
= 10,000 * Present Value of Annuity dude factor for 6 years, 6%
= 10,000 * 5.2124
= $52,124
Third alternative;
= 22,000/(1 + 6%)^3 + 22,000/(1 + 6%)^4 + 22,000/(1 + 6%)^5
= $52,337
The third alternative should be chosen as it offers the highest present value.
Information you might study in a particular class is called (blank)
an elective
a club
curriculum
an internship
Answers
Answer:
curriculum is the correct answer right no
Answer:
Information you might study in a particular class is called curriculum
if the marginal propensity to consume is 9.5, then a $100 increase in investment will result in a maximum increase in equilibrium real gross domestic product of $…..
Answers
Marginal propensity to consume is the fraction of additional income that is spent on consumption. Therefore, if the marginal propensity to consume is 9.5, then for every additional dollar earned, 95 cents will be spent on consumption. If investment increases by $100, the maximum increase in equilibrium real gross domestic product (GDP) can be calculated by multiplying the increase in investment by the marginal propensity to consume.
The formula to calculate the maximum increase in equilibrium real gross domestic product is:Maximum increase in equilibrium real GDP = Change in investment × Marginal propensity to consume. Substituting the given values into the formula, we get:
Maximum increase in equilibrium real GDP = $100 × 9.5% or 0.095. Therefore, the maximum increase in equilibrium real GDP is $9.5.Since the increase in investment results in a multiplier effect on the economy, it is expected to lead to a higher increase in GDP than the calculated maximum increase in equilibrium real GDP.
This is because the increase in investment would result in increased production, employment, and incomes, leading to a further increase in consumption and investment.
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reasons for looting
Answers
Answer:
to get supplies
Explanation:
I hope I helped
This chapter is all about trade--imports and exports and the balance of payments.
Answers
Benson, Inc., has sales of $38,530, costs of $12,750, depreciation expense of $2,550, and interest expense of $1,850. The tax rate is 21%. What is the operating cash flow, or OCF?
Answers
Answer:
$21,290.1
Explanation:
The operating cash flow is computed as seen below;
Sales. $38,530
Less: Costs ($12,750)
$25,780
Less:depreciation ($2,550)
EBIT. $23,230
Less: Interest expense ($1,850)
$21,380
Less : 21% taxes ($4,489.9)
Earnings after taxes $16,890.1
Operating cash flow = EBIT + Depreciation - Taxes
= $23,230 + $2,550 - $4,489.9
= $21,290.1
construct essay using the 4 factors of production
1. Land
2. Labour
3. capital
4. entrepreneurship
Answers
The four elements of production are land, labor, capital, and entrepreneurialism, according to economists.
The four most important production elements are what?The four production elements are examined in further detail below, along with how their interactions impact the financial markets:
Land is seen as a component of production since it contains the natural resources used to create a good or service. These resources might be either nonrenewable ones, like oil, gold, or water, or renewable ones, like forests, according to Edward Petersmarck, executive director of practice development at M&O Marketing.
According to John Traynor, chief investment officer of People's United Advisors, labor is the component of production on which we focus the most. Labor is the work that members of a workforce perform. Its value is determined by the human capital, or the skills, knowledge, training, and education of these individuals.
A factor of production is defined as a set of resources, such as capital goods, that were produced by people and used in the production of commodities or services. The hammer of a carpenter or an MRI machine used by a doctor are only two examples provided by Petersmarck. Contrary to what he asserts, it cannot be confused with money as the latter "can buy capital but is not used to produce capital."
The purpose of consumer goods is to be consumed, whereas the purpose of capital goods is to be produced. Another technique to distinguish between capital goods and consumer products is in this way. The difference between a business complex and an apartment complex is that the former is a capital good, the latter is a consumer good.
Entrepreneurs are those who combine capital, labor, and other factors of production to produce goods and services for a profit. As an example of the entrepreneurial element in manufacturing, you may think of Ray Kroc, a McDonald's franchisee.
An economist from Montclair State University named Luis Portes claims that entrepreneurial activity is the catalyst for innovation because it introduces fresh schemes for allocating resources like labor, capital, and land to the production of new goods and services.
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I need a an idea of followership introduction help me!
Answers
Followership refers to the role, behavior, and actions of individuals who are not in a leadership position, but rather, they support and collaborate with their leaders to achieve shared goals. Followership is an essential aspect of organizational success, as it complements leadership and fosters a harmonious work environment.
Effective followers exhibit characteristics such as being proactive, taking responsibility, and engaging in open communication with their leaders. They also possess the ability to think critically and provide valuable feedback for the betterment of the team. By embracing the principles of followership, individuals contribute positively to the overall performance and morale of the organization.
It is important to note that followership does not imply blind obedience or passivity. Instead, it involves active engagement and collaboration with leaders to achieve common objectives. In this dynamic relationship, leaders and followers must work together, learn from each other, and adapt to changing circumstances.
In conclusion, followership is a vital component of successful organizations and plays a significant role in accomplishing shared goals. By cultivating strong followership skills, individuals can effectively support their leaders, enhance team performance, and contribute to the growth and success of the organization.
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i. Accrued service revenue Birr bu ii. depreciation birr 300 iii. accrued salary expense birr 800 iv. prepaid rent expired birr 500 v. supplies used birr 100 Requirements a) Journalize and post adjusting entries b) Prepare adjusted tribal balance c) Prepare financial statement d) Journalize closing entries e) Preparing post closing trial balance
Answers
The Following are required Journalize and post adjusting entries.
Debit Credit
Accrued Service Revenue A/cTo Service Revenue A/c
Depreciation A/c 300To Machinery A/c 300
Salary A/c 800To Salary Payable 800
Rent 500To Prepaid Rent 500
Supplies A/c 100To Payable 100
How do you record accrued service revenue?Accrued revenue is reported on a company's financial statements as an adjusting journal entry under current assets on the balance sheets and as a financial result and capital on the income statement. When the payment is made, it is recorded in the asset account as an adjusting entry for accrued revenue.
Thus, the mentioned above are required Journalize.
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Which of the following statement completions is CORRECT? If the yield curve is upward sloping, then the marketable securities held in a firm's portfolio, assumed to be held for emergencies, should a. consist mainly of long-term securities because they pay higher rates. b. be balanced between long- and short-term securities to minimize the adverse effects of either an upward or a downward trend in interest rates. c. consist mainly of short-term securities because they pay higher rates. d. consist mainly of U.S. Treasury securities to minimize interest rate risk. e. consist mainly of short-term securities to minimize interest rate risk.
Answers
Answer:
d. consist mainly of U.S. Treasury securities to minimize interest rate risk.
Explanation:
If the yield curve is sloping up, therefore marketable securities retained in the portfolio of a company, supposed to be kept for emergencies, will mainly consist of short-term securities to reduce interest rate risk.
Therefore in the given case, the correct option is d. i.e it mainly consists of U.S. Treasury securities so that the rate of interest rate could be minimized
For next year, By-Way has projected sales of $435,000, costs of $254,000, depreciation of $35,000, interest expense of $22,000, and taxes of $28,500. What is the amount of the projected operating cash flow
Answers
The amount of the projected operating cash flow is $152,500
What is operating cash flow?Operating Cash Flow (OCF) is what measure the amount of cash generated by a company's normal business operations in its day to day activities.
Operating Cash Flow (OCF) is computed below:
Projected sales 435,000
(-) Costs 254,000
(-) Depreciation 35,000
Operating income 146,000
Operating income 146,000
(+) Depreciation 35,000
(-) Taxes 28,500
Projected operating cash flow $152,500
Hence, Projected operating cash flow is $152,500
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Explain how to read the Production Possibilities Curve.
Answers
In economics, the maximum output of two items with a fixed amount of input is measured by a production possibilities curve. The four variables of production—natural resources (including land), labor, capital goods, and entrepreneurship—combine to make up the input.
What is the process to read the Production Possibilities Curve?An economy's capacity to produce different combinations of two items is displayed by a production possibilities curve. The production possibilities curve's descending slope implies scarcity.
The production possibilities curve has a bowed-out shape as a result of resource allocation based on comparative advantage.
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Careers that require a college degree and those
Answers
Answer:Careers that require a college degree and those that do not have different levels of education and skill requirements.
Explanation:
what are some ways the financial crisis in 2008 could've been avoided
Answers
The financial crisis in 2008 could've been avoided in some ways by Regulating the housing market, Proper regulation banks and financial institutions, Introduction of better accounting standards, Encouraging greater transparency, and Regulating credit rating agencies.
The global financial crisis of 2008 was a significant economic event that had a far-reaching impact on the worldwide economy. The crisis resulted in the collapse of numerous leading financial institutions, which led to unprecedented losses in the stock market, a decline in economic growth, and high levels of unemployment. It is commonly believed that the crisis could have been avoided if appropriate measures had been taken at the right time.
Here are some ways the financial crisis in 2008 could have been avoided:
1. Regulating the housing market: The financial crisis of 2008 originated from the housing market collapse. Banks and financial institutions had given loans to people who could not afford them, and when the housing bubble burst, a massive number of mortgages went into default. If the government had regulated the housing market more effectively, the financial institutions would not have been able to give out loans to risky borrowers, and the housing market would not have collapsed.
2. Proper regulation of banks and financial institutions: If banks and financial institutions were regulated more effectively, they would not have been able to engage in risky financial practices that led to the crisis. Regulators would have spotted the risky activities early on and would have been able to take corrective action before it was too late.
3. Introduction of better accounting standards: During the financial crisis of 2008, banks and financial institutions engaged in creative accounting practices to hide their losses. This deception made it difficult to ascertain the real situation of the banks and financial institutions, leading to a lack of confidence in the market. If better accounting standards had been introduced, this could have been avoided.
4. Encouraging greater transparency: The financial crisis of 2008 was partly caused by a lack of transparency in the market. If regulators had encouraged greater transparency, there would have been more information available to investors, which could have led to greater confidence in the market.
5. Regulating credit rating agencies: Credit rating agencies played a significant role in the financial crisis of 2008. They gave high ratings to toxic financial products, which misled investors and led to the collapse of the market. If credit rating agencies were regulated more effectively, they would not have been able to give high ratings to risky products, and the market would have been more stable.
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If Country A is an agricultural country and Country B has many cities and factories, it would make sense for
both countries to set up car manufacturing plants.
Country A to specialize in growing corn while Country B specializes in making cars.
Country A to specialize in making cars while Country B specializes in growing corn.
both countries to compete in growing more corn.
Answers
Answer:
Country A to specialize in growing corn while country B specializes in making cars
Southern California Publishing Company is trying to decide whether to revise its popular textbook, Financial Psychoanalysis Made Simple. The company has estimated that the revision will cost $75,000. Cash flows from increased sales will be $20,900 the first year. These cash flows will increase by 3 percent per year. The book will go out of print four years from now. Assume that the initial cost is paid now and revenues are received at the end of each year. If the company requires a return of 8 percent for such an investment, calculate the present value of the cash inflows of the project.
Answers
Answer:
$72,195.71
Explanation:
Calculation to determine the present value of the cash inflows of the project
Using this formula
PV = C {[1/(r – g)] – [1/(r – g)] × [(1 + g)/(1 + r)]^n}
Where,
C represent cash flow=$20,900
r represent rate of return = 8%
g represent growth rate=3%
n represent Period
Let plug in the formula
PV= $20,900*{[1/(0.08-0.03)] - [1/(0.08-0.03)] × [(1+0.03) /(1+0.08)]^4}
PV= $20,900*{20-[20*(1.03/1.08)^4]}
PV= $20,900*[20-(20*0.827283)]
PV= $20,900*(20-16.54566)
PV= $20,900*3.45434
PV= $72,195.71
Therefore the present value of the cash inflows of the project will be $72,195.71
A stock is not expected to pay dividends for the next ten years. Eleven years from today, the stock is expected to pay a dividend of $9.82 per share. Dividends will then grow at 4.50 percent per year indefinitely. The expected return on this stock is 11 percent. What is one share of the stock worth today?
Answers
Answer:
$53.21
Explanation:
using the dividend dividend discount model, we can calculate the terminal value at the end of year 10:
the terminal value at the end of year 10 = $9.82 / (11% - 4.5%) = $9.82 / 6.5% = $151.08
the present value (today) = $151.08 / (1 + 11%)¹⁰ = $$151.08 / 2.83942 = $53.21
Melissa is conducting a survey of our classmates because our teacher wants the class to learn more about hygiene habits Melissa House develop a list of 10 questions
Answers
Answer:
According to the case, the five kinds of share are directly relevant and can be calculated from the provided information are:
1. Authorized Capital
2. Issued Capital
3. Un-issued Capital
4. Subscribed Capital
5. Called-up Capital
Explanation:
Authorized Capital:
The authorized capital is known as the registered capital of the company, Authorized capital is the maximum amount of share that a company is authorized to issuing share to its shareholders.
In this case, the Alpha limited company registered on 5th January 2023 with the capital of 500,000 which is divided into 25,000 ordinary shares and the value of each share is Rs. 20.
Issued Capital:
The issued share capital of company is monetary value of shares which legally offers by company to its shareholders.
In this case, the Alpha limited company on 20th of January offered for sale to the public from authorized capital. The company put forward 15,000 and the value of each share is 20 Rs. Consequently, the company’s issued capital is 300,000 Rs (15,000 shares x 20 Rs.) .
Un-issued Capital:
The un-issued share capital reflects the part of authorized capital stock that the company has not yet issued to the public.
In this case, the Alpha limited company has not issued his 10,000 shares, and the value of each share is 20 Rs so its total un-issued capital is Rs. 200,000 (10,000 shares x 20 Rs.).
Subscribed Capital:
The subscribed capital is the portion of issued capital for which the public has been subscribed and the company has accepted.
In this case, the Alpha limited company on 23rd January received applications for 14,500 shares from the public which informed by company’s bank, so the subscribed capital is Rs. 290,000 (14,500 shares x 20 Rs.).
Answers
The five kinds of capital that are directly relevant are:
Authorized Capital: Rs. 500,000Issued Capital: Rs. 300,000Un-issued Capital: Rs. 200,000Subscribed Capital: Rs. 290,000Called-up Capital: Rs. 290,000What is a called-up capital?The called-up capital refers to the portion of the subscribed capital that the company has demanded and the shareholders are required to pay.
In this case, the Alpha limited company called up the entire subscribed capital of Rs. 290,000 on 25th January. Therefore, the called-up capital is also Rs. 290,000.
Summarily,
- Authorized Capital: Rs. 500,000
- Issued Capital: Rs. 300,000
- Un-issued Capital: Rs. 200,000
- Subscribed Capital: Rs. 290,000
- Called-up Capital: Rs. 290,000
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the unemployment rate includes marginally attached workers and underemployed workers. t or f
Answers
The unemployment rate includes marginally attached workers and underemployed workers False.
What is the unemployment rate made up of?The unemployment rate for any location is calculated by dividing the number of locals who are unemployed and actively looking for work by the total local workforce.
How is the unemployment rate calculated?A individual must be 16 years old and have been available for full-time employment for the previous four weeks in order to be declared jobless. During this time, the person ought to be actively hunting for work.
Who is included in the U-3 unemployment rate?All unemployed people who are available to accept a job and have actively looked for employment in the past four weeks are included in the official definition of unemployment (as measured in the CPS by U-3 in the U-1 to U-6 range of choices).
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States (and provinces) that have control over taxation sometimes reduce taxes in an attempt to spur economic growth. Suppose that you are hired by a state to estimate the effect of corporate tax rates on, say, the growth in per capita gross state product (GSP).
1. What kind of data would you need to collect to undertake a statistical analysis?
2. Is it feasible to do a controlled experiment? What would be required?
3. Is a correlation analysis between GSP growth and tax rates likely to be convincing? Explain.
Answers
1. The quantitative secondary data is the type of data that is going to be needed.
2. No it would not be feasible to do the controlled element
3. No the correlation is not likely to be convincing
What sort of information would you need to gather in order to do a statistical analysis?1. We need quantifiable data to comprehend how corporate taxes affect GSP. Testing the connection and type of link between the two variables can help one understand how corporate taxes affect GSP. Studying how taxes affect factors like income or consumption is another option. In the majority of states, the information on factors like consumption is open to the public. For a statistical analysis, we will require quantitative data for at least 15 years.
2. An ethical controlled experiment cannot be conducted. This is due to the fact that two groups would need to be taxed differently in order to conduct a controlled trial. Since individuals who are paying the higher tax rate will subsequently object for the income loss, this will create an ethical dilemma.
3. This is due to the fact that the major goal of the test is to determine how much the GSP will be impacted by a change in corporation taxation. What must be demonstrated is if a reduction in corporate taxes will result in an increase in capital gross product. (An effect like the Laffer curve, but in this case the amount of taxes that individuals must pay rises as the tax rate decreases to an ideal level.)
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If I have bought 4 books and 1 pen plus tax each: $12.99, $12.99, $11.99, $7.99, and $3.99. I gave them $60.00. How much money do I get back?
Answers
Your total would be $49.95.
$60 - $49.95
= $10.05
Dolan Company reports its income from investments under the equity method and recognized income of $25,000 from its investment in Moss Co. during the current year, even though no dividends were declared or paid by Moss during the year. On Dolan's statement of cash flows (indirect method), the $25,000 should:________. A) not be shown. B) be shown as cash inflow from investing activities. C) be shown as cash outflow from financing activities. D) be shown as a deduction from net income in the cash flows from operating activities section.
Answers
Answer:
The answer is B.
Explanation:
The correct option is B.
Dolan company has an investment in Moss which gave him an income(inflow) of $25,000. So on Dolan's statement of cash flow, this transaction will be under 'Cash flow from Investing Activities' and the line item will be:
Cash inflow from Investing Activities - $25,000.
It doesn't matter whether a cash flow is prepared in a direct or indirect manner for Investing Activities or Financing Activities, it only affect Operating Activities.
¿In two to three sentences, explain why it is important to have insurance.?
Answers
Answer:
Explanation:
Insurance protects yourself, your assets, or even your family against financial loss. Oftentimes, events, such as cancer or a car accident, are random and have the potential to financially run people. Insurance is a way to reduce the financial impacts of these risks.
Imagine that you are the manager of an aspiring multinational video conferencing company. What would not be a strategic reason for your company to expand outside your domestic market to improve its overall competitiveness
Answers
The option that would not be a strategic reason to expand outside your domestic market would be To Seek A Profit Sanctuary.
What is a profit sanctuary?These are the areas that businesses are known to make the most of their money. It is where they accumulate the bulk of their wealth steadily.
The company woyld not be going out of their domestic market place for this reason.
Complete question:
Imagine That You Are The Manager Of An Aspiring Multinational Social Media Company. What Would Not Be A Strategic Reason For Your Company To Expand Outside Your Domestic Market To Improve Its Overall Competitiveness? A. To Seek A Profit Sanctuary B. To Develop Export Markets C. To Create A New Licensing Opportunities D. To Establish A Subsidiary In A Foreign.
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One function of money is to use it as a medium of exchange.
A.)True
B.) False
Answers
Answer:
Explanation:
true
Past work and volunteer service can both be placed in the experience section of a résumé
Answers
Answer:
yes, if its properly filled because its considered credible work experience
Explanation:
Question 5
If an individual has a Holland code suggesting Conventional strengths,
career in which field might be most satisfying?
h
O Finance
O Teaching
O Food Service
O Medicine
Answers
If an individual has a Holland code suggesting Conventional strengths, the career in finance field might be most satisfying. Thus, the correct answer is option B.
What is a Holland Code?The Holland Codes, also known as the Holland Occupational Themes, are a taxonomy of interests based on a career and vocational choice theory developed by American psychologist John L. Holland.
The Holland Codes are a component of the Strong Interest Inventory, which is used to assess interests. Holland defines the "Conventional Type" as a person who has "a preference for actives that entail the explicit, ordered, systematic manipulation of data . These behavioral tendencies, in turn, lead to the development of clerical, computational, and business system competencies.
Therefore, a career in finance would be appropriate for an individual who has a Holland code suggesting Conventional strengths.
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Most people in the US own stocks or bonds primarily through
Answers
Answer:
There 401k or other retirement accounts
Explanation:
most people are provided these through there jobs and are provided so they do not have to do any research themselves
Clayton Alderfer’s ERG theory is a modification of Maslow’s hierarchy of needs because it states that human needs can be grouped into three instead of five categories. ________ is not one of the ERG categories.
Answers
According to Lderfer's ERG theory, there are three categories of basic needs: presence (E), relationship (R), and development (G). These three categories are referred to as ERG categories.
What analysed in order between Alderfer's and Maslow's motivational theories?Humans have three primary sorts of needs, according to Herzberg two - factor theory of motivation, which expands on Maslow's classification of needs: Existence, Relatedness, and Growth. These requirements may have varying degrees of priority for various people, and they relative importance to a person may change over time.
What are the implications of Alderfer's relatedness requirements on the value of preserving interpersonal relationships?The necessity of maintaining interpersonal connections is related to relatedness demands. These needs are centered on social connections with others and correspond to Maslow's levels of esteem-related needs and love/belonging-related wants (including companionship, love, and sexual intimacy) (gaining the respect of others).
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