Which are possible employers in the Financial career cluster? Check ALL that apply.

A. private company
B. government
C. nonprofit organization
D. bank
E. stock market

Answers

Answer 1

The correct option is B and D.

What is the Finance Career Cluster?

The Finance Career Cluster prepares students for careers in financial and investment planning, banking, insurance, and business financial management. Finance career opportunities are available in every sector of the economy and require skills in organization, time management, customer service, and communication.

What are the four career pathways in finance?

The four career pathways in the finance cluster are banking and related services, business financial management, financial and investment planning, and insurance services.

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Related Questions

Theresa works as a Risk Management Specialist for an investment corporation. Which best describes her educational pathway?

A. an associate’s degree, then a bachelor’s degree
B. a master’s degree, then vocational school
C. vocational school, then an associate’s degree
D. a bachelor’s degree, then a master’s degree

Answers

Answer:

The answer is b

Explanation:

i'm doing the unit test right now

Answer:

I feel that the correct answers is D because to become a Risk Management Specialist you must have a bachelors in business and most likely a master.

Explanation:

If national income is $5,000 billion, compensation of employees is $1,105 billion, proprietors’ income is $1,520 billion, corporate profits are $490 billion, and net interest is $128 billion, then rental income is equal to

Answers

Answer:

Rental income = $1,757 billion

Explanation:

National income is defined as the value of goods and services that a nation produces within a financial year.

Therefore it is made up of all economic actives that the nation is involved in.

The gross domestic product is a measure of the national income.

The formula for national income is given below

National income = employees compensation + proprietors' income + corporate profits + rental income +net interest

5,000 billion = 1,105 billion + 1,520 billion + 490 billion + rental income + 128 billion

Rental income = 5,000 billion - 3,243 billion

Rental income = $1,757 billion

Company XYZ closed at ​$ per share with a​ P/E ratio of . Answer the following questions. a. How much were earnings per​ share? b. Does the stock seem​ overpriced, underpriced, or about right given that the historical​ P/E ratio is​ 12-14?

Answers

Answer:

Hello your question is incomplete below is the complete question

Company XYZ closed at ​$53.02 per share with a​ P/E ratio of 14.02 .

Answer :

A)  $3.79

B) underpriced

Explanation:

Given data:

Closing price  ( price per share ) = $53.02

P/E ratio = 14.02

A ) How much earnings per share

Earnings per share = price per share / (P/E) ratio

                                =  53.02 / 14.02 =  $3.79

B) To check if the stock is overpriced, underpriced or about right

i) At P/E ratio = 12

 Earnings per share = 53.02 / 12 = $4.43

 Earning yield = ( earning per share / market value ) * 100

                        =  ( 4.43 / 53.02 ) * 100 = 8.33%

ii) At P/E ratio = 13

Earnings per share = 53.02 / 13 = $4.09

Earning Yield = ( earning per share / market value ) * 100

                      = (4.09 / 53.02 ) * 100 = 7.69%

iii) At P/E ratio = 14

Earnings per share = 53.02 / 14 = $ 3.8

Earnings yield = ( earning per share / market value ) * 100

                        = ( 3.8 / 53.02 ) * 100 = 7.14%

The average of the earning yield given P/E ratio is 12-14

= ( 8.33 + 7.69 + 7.14 ) % / 3 = 7.72%

while  The earning yield given P/E ratio is 14.02

=  ( earning per share / market value ) * 100

= ( 3.79 / 53.02 ) * 100 =  7.12%

Therefore the stock is underpriced

Apr. 2 Purchased $6,900 of merchandise from Lyon Company with credit terms of 2/15, n/60, invoice dated April 2, and FOB shipping point.
3 Paid $390 cash for shipping charges on the April 2 purchase.
4 Returned to Lyon Company unacceptable merchandise that had an invoice price of $500.
17 Sent a check to Lyon Company for the April 2 purchase, net of the discount and the returned merchandise.
18 Purchased $13,100 of merchandise from Frist Corp. with credit terms of 1/10, n/30, invoice dated April 18, and FOB destination.
21 After negotiations, received from Frist a $400 allowance toward the $13,100 owed on the April 18 purchase.
28 Sent check to Frist paying for the April 18 purchase, net of the allowance and the discount.

Required:
Prepare journal entries to record the above transactions for a retail store. Assume a perpetual inventory system.

Answers

Answer:

Apr. 2

Merchandise $6,900 (debit)

Accounts Payable : Lyon Company $6,900 (credit)

Purchased Merchandise from Lyon Company on credit

April 3.

Accounts Payable : Lyon Company $390 (debit)

Cash $390 (credit)

Payment of Freight Charges Include in Invoice (FOB)

April 4.

Accounts Payable : Lyon Company $500 (debit)

Merchandise $500 (credit)

Returned Merchandise to Lyon Company

April 17.

Accounts Payable : Lyon Company $6,010 (debit)

Discount Received $120 (credit)

Cash $5,890 (credit)

Payment of amount due to Lyon Company and discount received

April 18.

Merchandise $13,100  (debit)

Accounts Payable: Frist Corp $13,100  (credit)

Purchased Merchandise on credit from Frist Corp

April 2.

Accounts Payable: Frist Corp $400  (debit)

Purchase allowance $400 (credit)

Received and allowance from Frist Corp

April 28.

Accounts Payable: Frist Corp $12,700 (debit)

Discount Received $127 (credit)

Cash $12,573 (credit)

Payment of amount due to Frist Corp and discount received

Explanation:

See the journals and their narrations prepared above.

provide an example of two companies that have built an effective co-operation.briefly explain the relationship of it g

Answers

Answer:

An example of two companies that have built an effective co-operation is discussed below in details.

Explanation:

Louis Vuitton & BMW

Co-operation Operations: The Art of Travel

Designer Louis Vuitton and Carmaker BMW may not be the usual simple pairings. But if you believe about it, they have some significant things in general. If you concentrate on Louis Vuitton's trademark baggage lines, they're both in the industry of journey. They both value leisure. And finally, they're both well-known, fabulous brands that are recognized for high-quality craftsmanship.

Managers must be able to determine whether their workers are doing an effective and efficient job, with a minimum of errors and disruptions. They do so by using a performance appraisal, an evaluation that measures employee performance against established standards in order to make decisions about promotions, compensation, training, or termination. Managing effectively means getting results through top performance. That's what performance appraisals at all levels of the organization are for—including at the top, where managers benefit from review by their subordinates. In the 360-degree review, management gathers opinions from all around the employee, including those under, above, and on the same level, to get an accurate, comprehensive idea of the worker's abilities.

a. True
b. False

Answers

Answer:

a. True

Explanation:

This system of performance review is a 360-degree review or feedback process where a given employee receives inputs on her performance (or other criteria such as behaviors, competencies and results achieved) from different employees with varying working relationships and at different levels.  The idea is to ensure that the employee's performance is not partial or biased.  Using this system, the employee who may be a manager will have her performance reviewed by employees below, above, and on the same level with her.

Help me please thank you

Answers

Answer:

You have to be intelligent, risk taking and you haver to care about your people.

Explanation:

Which section of a CAR Residential Purchase Agreement is a provision divided into three sections: mediation, arbitration of disputes, and additional terms?

Answers

Answer: Appraisal contingency and Removal.

Explanation:

The appraisal contingency, is a kind of CAR residential purchase agreement, which allows a buyer to back out of the deal if the house appraises for less than the already agreed-upon value. and the loan contingency, this term lets the buyer back out if he/she can't get their loan approved for the said purposes.

The section of a car residential purchase agreement that separates it into three sections would be:

Section 9C

The section titled 9C functions to separate the property purchase provisions into three varied divisions. These divisions include mediation followed by arbitration of disputes, and the external terms that fulfill the remaining ones.The other options are present in order to fulfill if either of them fails to resolve the dispute.

Thus, "section 9C" is the correct answer.

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Apply What You’ve Learned - Managing Credit Cards and ConsumerLoans
Scenario: You are 30 years old, married, have two children, and household income (take-home pay) of$3,500 per month. Your credit and consumer debt is as follows:_______.
• Car loan, 6% interest rate, $10,000 balance, $295 per month
• Department store card, 28% interest rate, $600 balance, minimum payment 5% of balance
• Discover Card, 12% interest rate, $2,000 balance, minimum payment 2% of balance
• VISA Card, 13% interest rate, $3,000 balance, minimum payment 2% of balance
• MasterCard 1, 14% interest rate, $4,000 balance, minimum payment 2% of balance
• MasterCard 2, 14% interest rate, $0 balance, minimum payment 2% of balance
• Gasoline card, 21% interest rate, $300 balance, minimum payment 5% of balance
Assume all credit cards will assess a $35 late fee and ongoing penalty interest of 8% above the currentrate if you miss a payment. Your recent VISA card statement came with a blank cash advance check(for up to $10,000) with terms of 23.99% APR and a fee of 3% if you use it. Your recent MasterCard 2statement came with a balance transfer oFer (up to $4,000) with no fee and 0% APR for 12 months,after which the normal interest rate applies. You recently found an incorrect amount charged on yourVISA card from a store you frequent often. You’d like to come up with a plan to eliminate all of yourcredit card debt.
In general, is it a good idea to make only minimum payments on your credit cards?
Yes, you can invest the money saved each month to earn interest.
No, it will cause your interest rate to go up.
No, the small payment requirement is mathematically guaranteed to keep you in debt for manyyears.
Yes, this allows you more ±exibility in your cash budget.
Assuming you have $1,500 in your budget this month with which to pay down your credit cards, howmuch should you pay on each card?
CardInterestrateOutstandingRequired minimumRecommendedbalancepayment(%)payment($)debtrepaymentamount
store card
Discover Card12%2,0008%
VISA Card13%3,00010%
MasterCard 114%4,0008%
MasterCard 214%010%
Gasoline card21%30015%
Total$9,900$1,500

Answers

Answer:

1) In general, is it a good idea to make only minimum payments on your credit cards?

No, the small payment requirement is mathematically guaranteed to keep you in debt for many years.

All you have to do is analyze the interest rates charged by the credit card companies and it is really difficult for any investment to match those interest rates.

2) Assuming you have $1,500 in your budget this month with which to pay down your credit cards, how much should you pay on each card?

I would start with the cards that charge the highest interest rates. I would pay the full balance of the department store card and the gasoline card = $600 + $300 = $900

Since I have $600 left, I would then pay the minimum payments for the cards that charge the least interest rates. I would pay $40 to Discover card and $60 to VISA.

The remaining $500 would be used to pay MasterCard 1 card and lower its balance.

Air conditioning for a college dormitory will cost $2.1 million to install and $170,000 per year to operate at current prices. The system should last 19 years. The real cost of capital is 9%, and the college pays no taxes. What is the equivalent annual cost

Answers

Answer:

$404,634

Explanation:

the formula that we can use to calculate equivalent annual costs is:

EAC = asset price x {discount rate / [1 - (1 + discount rate)⁻ⁿ]} + annual maintenance costs

EAC = $2,100,000 x {0.09 / [1 - (1.09)⁻¹⁹]} + $170,000

EAC = $2,100,000 x {0.09 / [1 - (1.09)⁻¹⁹]} + $170,000 = $234,634 + $170,000 = $404,634

EAC is basically the cost of using an asset during its lifetime. We are determining the cost per year, assuming that they are all equal.

The following summary transactions occurred during 2021 for Bluebonnet Bakers:
Cash Received from:
Collections from customers $490,000
Interest on notes receivable 11,500
Collection of notes receivable 54,000
Sale of investments 34,000
Issuance of notes payable 175,000
Cash Paid for:
Purchase of inventory 235,000
Interest on notes payable 7,500
Purchase of equipment 90,000
Salaries to employees 95,000
Payment of notes payable 40,000
Dividends to shareholders 35,000
The balance of cash and cash equivalents at the beginning of 2021 was $26,000.
Required:
Prepare a statement of cash flows for 2021 for Bluebonnet Bakers. Use the direct method for reporting operating activities

Answers

Answer and Explanation:

The preparation of the statement of cash flows is presented below:

Bluebonnet Bakers

Cash flow statement

For the year 2021

Cash flow from operating activities

Collections from customers $490,000

Interest on notes receivable 11,500

Less: Interest on notes payable 7,500

Less: Purchase of inventory 235,000

Less: Salaries to employees 95,000

Net cash flow from operating activities $164,000

Cash flow from investing activities

Collection of notes receivable 54,000

Sale of investments 34,000

Less: Purchase of equipment 90,000

Net cash flow from investing activities -$2,000

Cash flow from financing activities

Issuance of notes payable 175,000

Less: Payment of notes payable 40,000

Less: Dividends to shareholders 35,000

Net cash flow from financing activities $100,000

Net increase or decrease in cash $262,000

Add: Opening cash balance $26,000

Ending cash balance $288,000

In an example, a local church is made up of people who are very different in their lifestyles and their stages of life. Mary is a 23-year-old single parent who earns the minimum wage. Jonathan is 60 years old, extremely wealthy, and works because he enjoys it. Jane is a 45-year-old lawyer who earns well and is well-respected in her profession. She is extremely career-oriented and is proud of her achievements. Which of the following do you think would motivate Jonathan the most?
a. safety
b. physiological
c. self-actualization
d. growth
e. esteem

Answers

Answer:

C) Self actualization

Explanation:

From the question, we are informed about example of alocal church is made up of people who are very different in their lifestyles and their stages of life, we are told if Mary who is is a 23-year-old single parent who earns the minimum wage. Jonathan is 60 years old, extremely wealthy, and works because he enjoys it. Jane is a 45-year-old lawyer who earns well and is well-respected in her profession. She is extremely career-oriented and is proud of her achievements.

In this case, self actualization would motivate Jonathan the most. This is because self actualization can be regarded as self fulfilment, it is when one fully realize his/her potential and gives appreciation, and here

Jonathan is 60 years old, and described as extremely wealthy, and works because he enjoys it. Hence self actualization is the best answer.

CAM charges for retail leases in a shopping mall must be calculated. The retail mall consists of a total area of 2.8 million square feet, of which 800,000 square feet has been leased to anchor tenants that have agreed to pay $2 per rentable square foot in CAM charges. In-line tenants occupy 1.3 million square feet, and the remainder is a common area, which the landlord believeswill require $8 per square foot to maintain and operate each year. If the owner is to cover total CAM charges, how much will in-line tenants have to pay per square foot?

Answers

Answer:

$3.08 per square foot

Explanation:

Calculation for how much will in-line tenants have to pay per square foot

First step is to find the common area

Common area = 2,800,000−800,000−1,300,000 Common area= 700,000

Second step is to find Common area operating costs

Common area operating costs = 700,000×8

Common area operating costs= $5.6 million

Third step is to find the Operating costs charged to in-line tenants

Operating costs charged to in-line tenants = 5,600,000−800,000×2

Operating costs charged to in-line tenants = 4,000,000

Last step is to calculate the In-line CAM charges using this formula

In-line CAM charges=Operating costs charged to in-line tenants -In-line tenants square feet

Let plug in the formula

In-line CAM charges = 4,000,000 ÷ 1,300,000

In-line CAM charges= $3.08

Therefore the amount that in-line tenants have to pay per square foot will be $3.08 per square foot.

connecting u dropped its price from $20 to $16 per gigabyte of data. Joe according to the midpoint formula, Connecting U reduced its price by what percentage?

Answers

Answer:

-$22.2

Explanation:

The computation of price by percentage is shown below:-

Price by percentage = (End price - Beginning price) ÷ (End price - Beginning price) ÷ 2 × 100

= ($16 - $20) ÷ ($16 - $20) ÷ 2 × 100

= -$4 ÷ $18 × 100

= -$400 ÷ $18

= -$22.2

So, we have applied the above formula.

And, the same is to be considered

Connecting u dropped price in percentage is 22.2%

Midpoint formula:

Given that;

Old price = $20

New price = $16

Find:

Connecting u dropped price in percentage

Computation:

[tex]Dropped\ price\ in\ percentage=[\frac{16-20}{\frac{16+20}{2} }]100\\\\Dropped\ price\ in\ percentage=[\frac{16-20}{18}]100\\\\Dropped\ price\ in\ percentage=[\frac{-4}{18}]100\\\\Dropped\ price\ in\ percentage=22.2[/tex]

Connecting u dropped price in percentage = 22.2%

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Wainwright Corporation owns and operates a wholesale warehouse.
The following transactions occurred during March 2016:
1. Issued 30,000 shares of capital stock in exchange for $300,000 in cash.
2. Purchased equipment at a cost of $40,000. $10,000 cash was paid and a note payable was signed for the balance owed.
3. Purchased inventory on account at a cost of $90,000. The company uses the perpetual inventory system.
4. Credit sales for the month totaled $120,000. The cost of the goods sold was $70,000.
5. Paid $5,000 in rent on the warehouse building for the month of March.
6. Paid $6,000 to an insurance company for fire and liability insurance for a one-year period beginning April 1, 2016.
7. Paid $70,000 on account for the merchandise purchased in 3.
8. Collected $55,000 from customers on account.
9. Recorded depreciation expense of $1,000 for the month on the equipment.
Required:
1.Analyze each transaction and classify each as a financing, investing and/or operating activity.
A transaction can represent more than one type of activity.
Also indicate the cash effect of each, if any.
Activities:
Transaction Financing Investing Operating
1
2
3
4
5
6
7
8
9

Answers

Answer:

Wainwright Corporation

Activities:

Transaction                   Financing     Investing     Operating     Cash Effect

1. Common Stock Issue  $300,000                                                $300,000

Transaction                   Financing     Investing     Operating     Cash Effect

2. Equipment purchase                      $40,000                              -$10,000

Transaction                   Financing     Investing     Operating     Cash Effect

3. Inventory purchase                                        $90,000

Transaction                   Financing     Investing     Operating     Cash Effect

4. Credit Sales                                                    $120,000  

Transaction                   Financing     Investing     Operating     Cash Effect

5. Rent Expense                                               $5,000                -$5,000

Transaction                   Financing     Investing     Operating     Cash Effect

6. Prepaid Insurance                                       $6,000                -$6,000

Transaction                   Financing     Investing     Operating     Cash Effect

7. Accounts Payable payment                       $70,000               -$70,000

Transaction                   Financing     Investing     Operating     Cash Effect

8. Cash Receipt from customers                 $55,000                $55,000

Transaction                   Financing     Investing     Operating     Cash Effect

9. Depreciation Expense                              $1,000                   None

Explanation:

These transactions of Wainwright Corporation in March 2016 are classified as financing, investing, or operating activities.  Some have cash effect, while others did not have any effect on the cash asset of the company.  Some cash effects are negative, representing outflows while others are positive, representing inflows.  The outflows are marked with the minus sign while the inflows are not marked.  This analysis shows that every transaction can be classified into financing, investing, or operating activities according to the presentation of the statement of cash flows but not all have cash effects.

The following transactions relate to the General Fund of the City of Buffalo Falls for the year ended December 31, 2020:

a. Beginning balances were: Cash, $98,000; Taxes Receivable, $197,000; Accounts Payable, $56,000; and Fund Balance, $239,000.
b. The budget was passed. Estimated revenues amounted to $1,280,000 and appropriations totaled $1,276,400. All expenditures are classified as General Government.
c. Property taxes were levied in the amount of $940,000. All of the taxes are expected to be collected before February 2021.
d. Cash receipts totaled $910,000 for property taxes and $310,000 from other revenue.
e. Contracts were issued for contracted services in the amount of $104,000.
f. Contracted services were performed relating to $93,000 of the contracts with invoices amounting to $90,400.
g. Other expenditures amounted to $986,000.
h. Accounts payable were paid in the amount of $1,130,000.
i. The books were closed.

Required:
a. Prepare journal entries for the above transactions.
b. Prepare a Statement of Revenues, Expenditures, and Changes in Fund Balance for the General Fund.
c. Prepare a Balance Sheet for the General Fund assuming there are no restricted or assigned net resources and outstanding encumbrances are committed by contractual obligation.

Answers

Answer:

Please see attached for the detailed solution.

Explanation:

a. Prepare Journal

b. Prepare statement

c. Prepare balance sheet

Please find attached solution to the above questions.

The adjusted trial balance of Gary Cooper Co. as of December 31, 2014, contains the following.
GARY COOPER CO.
ADJUSTED TRIAL BALANCE
DECEMBER 31, 2020
Debit Credit
Cash $20,892
Accounts Receivable 8,340
Prepaid Rent 3,700
Equipment 19,470
Accumulated Depreciation-
Equipment $6,315
Notes Payable 7,120
Accounts Payable 6,892
Common Stock 21,420
Retained Earnings 12,730
Dividends 4,420
Service Revenue 13,010
Salaries and Wages Expense 8,260
Rent Expense 2,154
Depreciation Expense 251
Interest Expense 189
Interest Payable 189
$67,676 $67,676
Instructions:
(a) Prepare an income statement.
(b) Prepare a statement of retained earnings.
(c) Prepare a classified balance sheet.

Answers

Answer: See attachment

Explanation:

An income statement is sometimes referred to as the profit and loss account. It should be noted that it shows the revenue and the expenses that are incurred by a particular company for a certain year.

With regards to the questions above, check the attachments for the solution.

Amy and Mitchell share equally in the profits, losses, and capital of the accrual basis AM Products LLC. The LLC does not need to report financial information to any third parties, so capital accounts are determined using tax rules (rather than GAAP). Amy is a managing member of the LLC (treated as a general partner) and is a U.S. person. At the beginning of the current tax year, Amy's capital account has a balance of $960,000, and the LLC has debts of $624,000 payable to unrelated parties. The debts are recourse to the LLC, but neither of the LLC members has personally guaranteed them. Assume that all LLC debt is shared equally between the partners. The following information about AM's operations for the current year is obtained from the LLC's records.


Ordinary income $900,000
W-2 wages to employees 200,000
Depreciation expense 300,000
Interest income from bond 4,000
Long-term capital loss 6,000
Short-term capital gain 12,000
Charitable contribution 4,000
Cash distribution to Amy 20,000
Unadjusted basis of partnership depreciable property 1,600,000

Year-end LLC debt payable to unrelated parties is $140,000.

Required:
What income, gains, losses, and deductions does Amy report on her income tax return?

Answers

Answer: See explanation

Explanation:

Share of ordinary income:

= (Ordinary income - Wages - Depreciation)/2

= (900,000 - 200,000 - 300,000)/2

= 400,000/2

= 200,000

Share of net short term capital gain

= (12,000 - 6,000) × 50%

= 6,000 × 0.5

= 3,000

Share of interest income

= 4000 × 50%

= 4000 × 0.5

= 2000

Share of charitable contribution deduction

= 4000 × 50%

= 4000 × 0.5

= 2000

3. Identify TWO possible suitable sources of external finance Chris could consider, if the local bank
manager refuses to give him a loan for purchasing a new van for his business. (10 marks)
Please help

Answers

Answer:

Hire Purchase

Loans from friends

Explanation:

Hire purchase

A hire purchase (HP) , is also called an installment plan, it is is an financing contract whereby a customer agrees to acquire an asset by paying an initial deposit and repays the balance of the price plus interest on installment bases  over a period of time .

Loans from friends

These are loans received from friends which are mostly interest free

Etxuck327 Inc. sells a particular textbook for $39. Variable expenses are $28 per book. At the current volume of 49,000 books sold per year the company is just breaking even. Given these data, the annual fixed expenses associated with the textbook total:

Answers

Answer:

539,000.00  

Explanation:

As per the contribution margin analysis concept, the break-even point is obtained by dividing fixed cost by contribution margin per unit.

For Etuck327,

The selling price is $39

Variable expense is $28

Break-even in units is 49,000 books.

Contribution margin per unit = selling price - variable costs

=$39- $28

=$11

if Break-even = fixed cost/ contribution margin per unit, then

49,000= fixed cost / 11

fixed costs = 11 x 49000

Fixed costs = 539,000.00    

                   

3. The last dividend paid by New Technologies was an annual dividend of $1.40 a share. Dividends for the next 3 years will be increased at an annual rate of 8 percent. After that, dividends are expected to increase by 3 percent each year. The discount rate is 16 percent. What is the current value of this stock

Answers

Answer:

$12.60

Explanation:

The computation of the current value of the stock is shown below:-

= $1.40 × (1.08) ÷ 1.16 + 1.40 × (1.08)^2 ÷ (1.16)^2 + 1.40 × (1.08)^3 ÷ (1.16)^3 + 1.40 × (1.08)^3 × (1.03) ÷ (0.16 - 0.03) × (1.16)^3

= $1.3034 + $1.2136 + $1.1299 + $8.9520

= $12.60

Therefore for computing the current value of stock we simply solved the above equation.

Use the information from the balance sheet and income statement below to calculate the following ratios:

a. Current Ratio
b. Acid-test ratio
c. Times interest earned
d. Inventory turnover
e. Total asset turnover
f. Operating profit margin
g. Days in receivables
h. Operating return on assets
i. Debt ratio
j. Fixed asset turnover
k. Return on equity

Balance Sheet ASSETS

Cash $100,000
Accounts receivable 30,000
Inventory 50,000
Prepaid expenses 10,000
Total current assets $190,000
Gross plant and equipment 401,000
Accumulated depreciation (66,000)
Total assets $525,000

LIABILITIES AND OWNERS' EQUITY

Accounts payable $90,000
Accrued liabilities 63,000
Total current liabilities $153,000
Long-term debt 120,000
Common stock 205,000
Retained earnings 47,000
Total liabilities and equity $525,000
Income Statement Sales* $210,000
Cost of goods sold (90,000)
Gross profit $120,000
Selling, general, and
administrative expenses (29,000)
Depreciation expenses (26,000)
Operating profits $65,000
Interest expense (8,000)
Earnings before taxes $57,000
Taxes (11,970)
Net income $45,030

Answers

Answer:

a. Current Ratio  = current assets / current liabilities = 190,000 / 153,000 = 1.24

b. Acid-test ratio  = (current assets - inventory) / current liabilities = (190,000 - 50,000) / 153,000 = 0.92

c. Times interest earned  = EBIT / interest expense = 65,000 / 8,000 = 8.13

d. Inventory turnover  = COGS / inventory = 90,000 / 50,000 = 1.8

e. Total asset turnover  = net sales / total assets = 210,000 / 525,000 = 0.4

f. Operating profit margin  = operating income / total sales = 65,000 / 210,000 = 0.31

g. Days in receivables  = (accounts receivables / total sales) x 365 = (30,000 / 210,000) x 365 =  52.14 days

h. Operating return on assets  = operating income / total assets = 65,000 / 525,000 = 0.12

i. Debt ratio  = total liabilities / total assets = 273,000 / 525,000 = 0.52

j. Fixed asset turnover  = total sales / fixed assets = 210,000 / 335,000 = 0.63

k. Return on equity = net income / total equity = 45,030 / 252,000 = 0.18

Bird Corp.'s trademark was licensed to Brian Co. for royalties of 15% of the sales of the trademarked items. Royalties are payable semiannually on March 15 for sales in July through December of the prior year, and on September 15 for sales in January through June of the same year. Bird received the following royalties from Brian:
March 15 September 15
20X4 $5,000 $7,500
20X5 6,000 8,500
Brian estimated that the sales of the trademarked items would total $30,000 for July through December 20X5. In Bird's 20X5 Income Statement, the royalty revenue should be:______.
a. $13,000.
b. $14,500.
c. $19,000.
d. $20,500.

Answers

Answer:

a. $13,000

Explanation:

Calculation for what royalty revenue should be

First step is to find the estimated amount for the second half of the year

Royalties for the second half =

15%*$30,000

Royalties for the second half= $4,500

Now let Compute for the total royalty revenue

Total royalty revenue for 20X5=$8,500+$4,500

Total royalty revenue for 20X5=$13,000

Therefore the royalty revenue should be $13,000

Three workers each take home two packs of Post-It notes at a cost of $.67 per pack.

Answers

Answer:

$ 4.02

Explanation:

Take two packs ×3 and it = 6 then take 6 × 67 and you get $4.02

Martinez Corp. has the following beginning-of-the-year present values for its projected benefit obligation and market-related values for its pension plan assets.

Projected Benefit Obligation Plan Assets Value
2019 $2,340,000 $2,223,000
2020 2,808,000 2,925,000
2021 3,451,500 3,042,000
2022 4,212,000 3,510,000

The average remaining service life per employee in 2019 and 2020 is 10 years and in 2021 and 2022 is 12 years. The net gain or loss that occurred during each year is as follows:

2019, $327,600 loss; 2020, $105,300 loss; 2021, $12,870 loss; and 2022, $29,250 gain. (In working the solution, the gains and losses must be aggregated to arrive at year-end balances.)

Required:
Using the corridor approach, compute the amount of net gain or loss amortized and charged to pension expense in each of the four years, setting up an appropriate schedule.

Year Minimum Amortization of Loss
2013 $
2014 $
2015 $
2016 $


Answers

Answer:

2020  $11,700

2021  $8,080

2022  $14,040

Explanation:

PBO = Projected benefit Obligation

PA =  Plan Asset

Acc. OCI  = Accumulated OCI Gain /  Loss

Min. Amort loss = Minimum Amortization of Loss

Year : PBO ; PA ; Corridor 10% ; Acc. OCI ;  Min. Amort loss

2019 : $2,340,000 ;  $2,223,000 ;  $234,000

2020 : $2,808,000 ;  $2,925,000 ;  $280,800 ;  $397,800 ; 11,700

2021 :  $3,451,500 ;  $3,042,000 ;  $345,150 ;  $264,350 ; 8,080

2022 :  $4,212,000 ;  $3,510,000 ;  $421,200 ;  $280,800 ; 14,040

Producers of snack foods (such as candy bars or potato chips) are most likely to use a(n) _____________ distribution strategy for their products.

Answers

Answer:

A.intensive

Explanation:

Products such as chocolate bars and chips fit the classification of non-durable consumer goods, that is, those that are produced for immediate consumption.

Its characteristics involve meeting the needs of the final consumer periodically, generally they are low-cost products that need quick replacement to meet the high demand for these non-durable products.

Therefore, the best strategy for the distribution of non-durable products is the intensive strategy, making it available in different places with easy access to the consumer and with high replacement.

Question 3
20 pts
Solve the problem
A normal distribution has a limited range and can be skewed in either direction.
True
0 False
Next >

Answers

The answer is false....
The answer is false

Bristo Corporation has sales of 1,750 units at $40 per unit. Variable expenses are 30% of the selling price. If total fixed expenses are $39,000, the degree of operating leverage is:

Answers

Answer:

1,750=$40=1,750×40=70-30÷100×39,000=58,3

Explanation:

is total cost of production can be fixed cost +variable cost

Answer:

degree of operating leverage= 4.9

Explanation:

To calculate the degree of operating leverage, we need to use the following formula:

degree of operating leverage= Total contribution margin / operating income

Total Contribution margin= 1,750*(40*0.7)= $49,000

Operating income= 49,000 - 39,000= $10,000

degree of operating leverage= 49,000/10,000

degree of operating leverage= 4.9

The following income statement items appeared on the adjusted trial balance of Foxworthy Corporation for the year ended December 31, 2021 ($ in 000s): sales revenue, $22,600; cost of goods sold, $14,650; selling expense, $2,330; general and administrative expense, $1,230; dividend revenue from investments, $230; interest expense, $330. Income taxes have not yet been accrued. The company’s income tax rate is 25% on all items of income or loss. These revenue and expense items appear in the company’s income statement every year. The company’s controller, however, has asked for your help in determining the appropriate treatment of the following nonrecurring transactions that also occurred during 2021 ($ in 000s). All transactions are material in amount.

1. Investments were sold during the year at a loss of $300. Foxworthy also had unrealized losses of $200 for the year on investments.
2. One of the company’s factories was closed during the year. Restructuring costs incurred were $2,000.
3. During the year, Foxworthy completed the sale of one of its operating divisions that qualifies as a component of the entity according to GAAP regarding discontinued operations. The division had incurred operating income of $800 in 2016 prior to the sale, and its assets were sold at a
loss of $1,800.
4. Foreign currency translation gains for the year totaled $600.

Required:
Prepare Foxworthy's single, continuous statement of comprehensive income for 2021, including basic earnings per share disclosures. Two million shares of common stock were outstanding throughout the year.

Answers

Question attached

Answer and Explanation:

Please find attached

The following model is a simplified version of the multiple regression model used by Biddle and Hamermesh (1990) to study the tradeoff between time spent sleeping and working and to look at other factors affecting sleep:

sleep = β0 + β1totwrk + β2educ + β3age + u,

where sleep and totwrk (total work) are measured in minutes per week and educ and age are measured in years. (See also Computer Exercise.)

(i) If adults trade off sleep for work, what is the sign of β1?

(ii) What signs do you think β2 and β3 will have?

(iii) Using the data in SLEEP75.RAW, the estimated equation is

= 3,638.25 - .148 totwrk - 11.13 educ + 2.20 age n = 706, R2 = .113.

If someone works five more hours per week, by how many minutes is sleep predicted to fall? Is this a large tradeoff?

(iv) Discuss the sign and magnitude of the estimated coefficient on educ.

(v) Would you say totwrk, educ, and age explain much of the variation in sleep? What other factors might affect the time spent sleeping? Are these likely to be correlated with totwrk?

Use the data in SLEEP75.RAW from Biddle and Hamermesh (1990) to study whether there is a tradeoff between the time spent sleeping per week and the time spent in paid work. We could use either variable as the dependent variable. For concreteness, estimate the model

sleep =β0+ β1totwrk+u, where sleep is minutes spent sleeping at night per week and totwrk is total minutes worked during the week.

(i) Report your results in equation form along with the number of observations and R2. What does the intercept in this equation mean?

(ii) If totwrk increases by 2 hours, by how much is sleep estimated to fall? Do you find this to be a large effect?

Answers

Answer:

1. I²1 will have a negative sign

This is because the more work the adults do, the less sleep they will utilize.

2. The sign of i²2 is likely to be negative. This is because due to the demands placed on them, more educated people are likely to sleep less. Also, general as age increases some people sleep less. While some others sleep more as it increases. So i²3 is a bit complicated to judge.

3. Using the data

^sleep = 3638.24-0.148toteork-11.13educ + 2.20age

N = 706 r² = 0.113

We will convert 5 hours to minutes = 60x5 = 300

Coefficient of totwork = 0.148

O.148x300 = 44.4 minutes

In a week approximately 45 minutes of less sleep is not too much a change.

4. We are to discuss the sign and magnitude of estimated education

More education indicates less sleeping time. This is obvious given the sign of the variable educ. It is negative, but it's effect is quite small. Magnitude is -11.13.

So as education increases by 1 year, expected sleeping time decreases by 11.13 minutes weekly.

5. R² is 0.113. the 3 predictor variables gives us 11.3% of total variations in sleep and rest. 88.7% is unexplained.

Some factors that might also affect it are general health, number and age of children are factors that could correlate with totwork

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